Phoenix Office

Cushman & Wakefield is pleased to offer FLATZ 602, a 180-unit modular garden style apartment community constructed in 2023 by Z Modular. FLATZ 602 offers its residents a high quality lifestyle experience near some of the West Valley’s largest employment and entertainment centers.

Z Modular specializes in modular building solutions that streamline the construction process. Using an innovative steel-based, prefabricated system, Z Modular delivers high-quality, customizable building components that can be rapidly assembled on-site. This approach not only reduces construction timelines and costs but also enhances structural integrity and sustainability.

Flatz 602 offers tenants a range of well thought-out floor plans, including studios, one bedroom and two bedroom floor plans, each offering high end finishes in a contemporary design. Each unit includes stainless steel appliances, quartz countertops with tile backsplashes, goose-neck faucets, kitchen islands with pendant lighting, plank style flooring, and spacious walk-in closets with built-in shelving, and private patio or balconies. A range of top-quality amenities are available to residents of Flatz 602 such as a resort style luxury pool and spa, state-of-the-art fitness center, co-working lounge with an indoor entertainment space and a billiards table. The community also offers a secure, gated entry, a pet park, and barbeque areas.

The property is being offered on a free and clear basis allowing purchasers the opportunity to acquire the property using their own financi.

Cushman & Wakefield is pleased to present a unique opportunity to purchase a fully entitled ±20,250 square foot, high density high-rise multifamily development site in Phoenix’s rapidly transforming Central Corridor located in the Opportunity Zone. Seller would also consider a co-development or build to suit. 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 is currently planned for a 37 story, 346 unit tower (Maximum density allows up to 384 units).

Cushman & Wakefield Inc., as exclusive advisor, is pleased to present the opportunity to acquire the Novus Lakefront Mixed-Use Development Site (the “Development Site”), presenting a rare opportunity to develop five lake front parcels. With significant frontage on Tempe Town Lake, the Development Site is comprised of approximately 14 acres in the Novus Innovation Corridor at Arizona State University, and represents the largest undeveloped contiguous lake front site on Tempe Town Lake.

Cushman & Wakefield is pleased to present the Scottsdale Crossing redevelopment opportunity featuring approximately 3.60 acres located just north of the dynamic Kierland area.

Cushman & Wakefield is pleased to offer SEVENTH, a 286-unit garden style apartment community offering exceptional value-add potential.

Ownership has spent nearly $10,000,000 upgrading the property since 2021. In late 2022, the equity investor took control of the partnership and operations.

Renovations include complete interior upgrades to 148 units including a conversion to individual HVAC systems in the entire west campus, additions and updates to property amenities, improvements to major mechanical systems, and substantial exterior renovations throughout the community.

Strong revenue upside is available through completing the renovations and moving in-place rents to market rents. Renovated market rental rates at SEVENTH are well below the rental rates of newer properties in the submarket with Class A studio units renting at over $300 higher and Class A one bedrooms renting at over $440 higher.

Attractive unit mix consisting of studio, one, two and three bedroom spacious units.

SEVENTH is strategically located in North Central Phoenix, one of the most desirable neighborhoods in Phoenix. Situated on 7th Street just north of Camelback Road, the location is perfect for residents looking to enjoy the conveniences of city living at an attainable price point.

Cushman & Wakefield is pleased to offer for the sale The Sheraton Phoenix Crescent Hotel. The property is being offered for sale by the receiver – Jeff Kolessar, Chief Development Officer, GF Hotels & Resorts – pursuant to a Court approved sale process, which will culminate in a Court Order approving the sale.

COURT ORDERED RECEIVERSHIP SALE - QUALIFIED BIDS DUE SEPTEMBER 16, 2024

Cushman & Wakefield is pleased to offer for sale of Wildcat Canyon Village a 76-unit lender-owned student housing community located within easy walking distance of the University of Arizona in Tucson, Arizona.

The University of Arizona, with an enrollment of over 45,000 undergraduate students, is ranked in the top 25 of public universities in the United States and offers students over 300 majors. A member of the BIG-12 Conference, the University of Arizona attracts students from all 50 states and throughout the world. As a top 20 public research institution the university has an annual research budget of over $825 million. Along with the State of Arizona and the city of Tucson, the university continues to grow at a rapid pace with an undergraduate enrollment increase of over 33% since 2015.

Residents of Wildcat Canyon Village are offered a mix of fully furnished one bedroom, two bedroom and three bedroom floor plans, each offered on a “by the bed” basis with individual 12 month lease terms (a small number of shorter term leases are offered on a select basis at a premium). Unit interiors were updated by the previous owner with updates including:

• New flooring

• New Cabinets in kitchens and bathrooms

• New kitchen appliances

• New light fixtures in kitchens and bathrooms

• New window coverings

The previous owner also started the process of converting a portion of the two-bedroom units into three-bedroom floor plans. 36 two-bedroom units have been converted to three-bedroom floor plans; however, it is our understanding that the necessary city approvals have not been obtained for occupancy of these units and therefore the current owner is not leasing the third bedroom in the converted units. A new buyer will have the option of obtaining city approval of the conversion of the two-bedroom units into three bedrooms and operate the property as a 164-bed community or convert the property back to its original format of one and two bedroom units and operate it as a 128-bed community.

Please note that the upgrades to the unit interiors were completed by the previous owner and neither the current owner nor Cushman & Wakefield has verified whether all units have been fully upgraded and whether the necessary city approvals were obtained.

Wildcat Canyon Village offers an excellent opportunity to acquire a lender-owned student housing community located within walking distance of one of the top universities in the country.

Cushman & Wakefield is pleased to present a unique opportunity to purchase a ±3.24 acre multifamily development site located at the southwest corner of Rio Salado Parkway and Perry Lane in Tempe, across from Tempe Marketplace, a 1.3M square foot open-air shopping center with over 100 shops, restaurants and entertainment venues to choose from, including Barnes & Noble, Dave & Busters, Harkins Theatres, DSW, Michaels, PetSmart, RoadRunner Sports, Total Wine and Target, plus dining options such as Barrio Queen, King’s Fish House, Lucille’s Bar-B-Que, Portillo’s Red Robin, Genghis Grill, California Pizza Kitchen, Thirsty Lion and Twin Peaks. The Rio & Perry site is well positioned to take advantage of easy access to the nearby 101 and 202 freeways.