All offers are due by Thursday, April 4, 2013 at 12:00 PM (PDT). If you have not already done so, we would urge you to schedule a property tour. PICOR Commercial Real Estate Services and Cushman & Wakefield are pleased to present the opportunity to purchase Mayfair Manor Apartments (140 units) and Shadow Pines Apartments (100 units) both located in Tucson, Arizona. The properties may be purchased together or separately. MAYFAIR MANOR Price: $5,500,000 Price/Unit: $39,285 Price/SF: $51.29 Cap Rate: 7.0% SHADOW PINES Price: $3,725,000 Price/Unit: $37,250 Price/SF: $51.13 Cap Rate: 6.8%
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Mayfair Manor & Shadow Pines
240 Units
5180 East 22nd Street, Tucson, Arizona 85711 & 4011 North First Avenue, Tucson, Arizona 85719
Tucson, AZ
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Mesa-Stillwater
   
1445 S Power Rd
Mesa
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Montelano
432 Units
8330 North 19th Avenue
Phoenix, AZ  85021
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Nueva Vista
72 Units
9423 N. 17th Ave.
Phoenix, AZ  85021
Type:  Multifamily

Cushman & Wakefield is pleased to present a unique opportunity to purchase a ±20,250 square foot, high density high-rise multifamily development site in Phoenix’s rapidly transforming Central Corridor located in the Opportunity Zone. This rare site is located along the Valley Metro Light Rail, with two stations within walking distance of the property at Central Avenue and Roosevelt Street, and Central Avenue and Van Buren Street. Phoenix’s urban revival has transformed the Central Corridor into a 24-hour live-work-play environment with new residential and trendy restaurants, coffee houses and bars. In addition to the Light Rail, the area has been influenced by anchor cultural, educational, research, sports and healthcare institutions, including Arizona State University’s 12,200-student downtown campus and the 1.5 billion dollar Phoenix Biomedical Campus. The result is an unprecedented demand for urban living solutions in the Central Corridor.

The opportunity consists of two (2) parcels with a combined total of ±20,250 square feet of developable land on the northwest corner of 1st Street and Pierce Street. This transit oriented development site is bound by two streets and provides for intense densities up to a maximum of 370 units and maximum height of 475 feet.

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NWC 1st St & Pierce Multifamily Development Site
   
NWC 1st Street & East Pierce Street
Phoenix, AZ  85004
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Orchidtree
278 Units
6801 East Camelback Road
Scottsdale, AZ  85251

Cushman & Wakefield is pleased to present a unique opportunity to obtain a long-term, prepaid ground lease for a ±1.0 net acre, high density multifamily development site within Arizona State University’s Novus Innovation Corridor. This rare opportunity is for Parcel 3F located on the southwest corner of 6th Street and Packard Drive, immediately north of the University Avenue Light Rail Transit Station.

Novus Innovation Corridor is a 350-acre master planned, mixed use development planned for approximately 10 million square feet along Tempe Town Lake, including State Farm's 2.1-million-square-foot Marina Heights regional office. Strategically integrated with Arizona State University (ASU), wholly on university-owned land, Novus is managed by master developer Catellus, a national leader in the development of urban mixed-use communities.

Novus is a unique opportunity to develop the 21st century urban community on an infill canvas in the center of one of the nation's largest and fastest growing metropolitan areas. The development will include a variety of urban neighborhoods that feature office, retail, hospitality and residential activities, creating the potential to bring more than 30,000 new jobs and 5,000 new residents to the thriving Tempe community.

Tempe, one of the Phoenix area’s most dynamic environments, features a large, educated workforce of over 200,000 people, a diverse mix of major employers including State Farm Insurance, First Solar, Amazon, Microsoft, ZipRecruiter, Chase Bank, Edward Jones, Medtronic and Wells Fargo among others. In addition, Tempe offers major events at venues such asvASU Gammage, Tempe Town Lake, Tempe Center for the Arts and at the various ASU athletic facilities. Tempe is also recognized as being the most bikable and walkable community in the Phoenix area.

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Parcel 3F - Novus Innovation Corridor
1 Acres
NWC 6th Street & Packard Drive
Tempe, AZ
Type:  Land
Cushman & Wakefield is pleased to present a unique opportunity to obtain a 99-year, prepaid ground lease for a ±2.36 gross / ±1.90 net acre multifamily development site within the Novus Innovation Corridor at Arizona State University. This opportunity is for Parcel 3G, located on the southeast corner of 6th Street and Rural Road, north of the University Drive/Rural Road light rail station. Parcel 3G is located within an Opportunity Zone.
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Parcel 3G - Novus Innovation Corridor
   
SEC 6th Street & Rural Road
Tempe, AZ  85281
The River Ranch Apartments is a 188 unit two story garden style complex built in 1986. It is composed of eleven buildings including a stand-alone office. The property is surrounded by single family housing valued in the $380,000-500,000 range, well-above the Phoenix average. The River Ranch Apartments offers an attractive product at an affordable price point with modern touches which make the property highly desirable.
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River Ranch
188 Units
6152 West Oakland Street
Chandler, AZ  85226
Located in northern Arizona and nestled at the base of the San Francisco Peaks, Rock Ridge Apartments is a garden-style apartment community in Flagstaff, Arizona. This large multifamily property was constructed in 1984 and is comprised of spacious 1 bedroom (40%) and 2 bedroom (60%) units. Each unit has a washer and dryer hookup, individual heating and cooling, wood-style flooring, and abundant off-street parking. Located 5 miles east of the junction of I-40, I-17 and Northern Arizona University, the property is easily accessible to major transportation arteries and just minutes away from numerous employment opportunities, retail amenities, and ample outdoor recreation.
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Rock Ridge
   
5205 E Cortland Blvd
Flagstaff, AZ  86004
Type:  Multifamily
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SSWC 91st Ave & Glendale Ave
   
91st Ave & Glendale Ave
Glendale, AZ

Cushman & Wakefield’s Southwest Multifamily Advisory Group is pleased to present the exclusive listing of the 130-unit Summerhill apartment community centrally located in Phoenix, Arizona. This asset is situated in a desirable and strategically located neighborhood between Central Phoenix and Scottsdale. Built in 1970, Summerhill represents an outstanding opportunity to invest in a strong location at a price below comparable sales.

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Summerhill
130 Units
2925 N. Greenfield Road
Phoenix, AZ  85016

Cushman & Wakefield is pleased to introduce the opportunity to purchase Terra Vista Palms, a 138-unit garden-style apartment community built in 1975 offering value-add potential to new ownership. Terra Vista Palms, at 59th and Northern Avenues, falls within the Downtown Glendale focus area. Historic Downtown Glendale has been experiencing a resurgence of restaurants and retail that attracts many residents with its quaint, city square feel. The property profits from good visibility on 59th Avenue with close proximity to many local conveniences and employment centers.

Terra Vista Palms offers an operational upside utilizing an interior and exterior renovation plan with the ability to increase effective rents and add value based on strong occupancy and projected rent growth. Contact us today to schedule your personal tour of Terra Vista Palms.

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Terra Vista Palms
138 Units
5902 W. Royal Palm Road
Glendale, AZ  85302
Type:  Multifamily
Unpriced offering
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The Colonnade
415 Units
1930 East Camelback Road
Phoenix, AZ  85016
The Colony Apartments is a 236-unit, one and two-story, garden-style complex built in 1979. It is composed of 41 buildings including a leasing office. The property is located across the street from Maryvale Park, Maryvale Community Center, YMCA, and the Palo Verde public library. The Colony Apartments offers an attractive product with large units in a relatively low density setting.
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The Colony
236 Units
4337 N 53rd Ln
Phoenix, AZ  85031
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Timberline Place
102 Units
4343 East Soliere Avenue
Flagstaff, AZ  86004

Cushman & Wakefield is pleased to introduce the opportunity to purchase Twillingate, an attractive, garden-style asset comprised of 52 units located on the METRO Light Rail on 19th Avenue. This submarket is expected to exceed above average revenue growth due to improved demographics associated with the impact of the METRO Light Rail operation and redevelopment of the Metrocenter area nearby.

Find out more about the value-add opportunities available with interior upgrades coupled with strong occupancy and convenient location. Contact us today to schedule your personal tour of Twillingate.

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Twillingate
52 Units
7141 N. 19th Ave.
Phoenix, AZ  85021
Type:  Multifamily
University Villa at Ironwood is a 140-unit/484-bed, purpose built student apartment community located at the northwest corner of Ironwood Hill Drive and Greasewood Road in Tucson, Arizona, approximately 4 miles west of the University of Arizona. This outstanding location is within walking distance of a grocery store, with nearby access to the I-10 and I-19 freeways, shopping, restaurants, banks and parks. New ownership has the strategic opportunity to implement a renovation program to enhance the property’s overall market position within the Tucson student housing submarket. University Villa at Ironwood has tremendous potential to unlock value by upgrading the unit interiors.
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University Villa at Ironwood
140 Units | 484 Beds
2550 West Ironwood Hill Drive
Tucson, AZ  85745
Unpriced Offering Lender Owned
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Veritas at McCormick Ranch Condominiums
36 Units
8233 North Paseo Del Norte
Scottsdale, AZ  85258
Type:  Multifamily
Williams Gateway is a 72-unit, two-story, garden-style complex built in 1982. It is comprised of 6 rental buildings with stucco frame construction and pitched tile roofs. This well maintained property is individually metered for utilities. Property amenities include a stand alone rental office, swimming pool, laundry facility, dog park, community BBQ and outdoor dining space.
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Williams Gateway
   
5850 S. Power Road
Gilbert, AZ  85295

Zen Senior Living is a 99 unit, two story garden complex built in 1985. This recently renovated, well maintained property is individually metered for utilities, with stucco frame construction and pitched tile roofs. Property amenities include an expansive clubhouse and TV lounge, fully equipped fitness center, new on-site pet park, sparkling swimming pool and hot tub, covered parking and community library. The property is one of Phoenix’s premier options for Active Adult Senior Living.

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Zen Senior Living
99 Units
11645 North 25th Place
Phoenix, AZ  85028