Arcadia Complex Hits Market; Held Takes Chandler Asset

By Alex Girda, Associate Editor

Arcadia Cove, a multi-family asset near the Phoenix Gateway Center and the upscale Arcadia neighborhood, has come to market with an asking price of $47.25 million, rentv.com reported. Located at 2522 North 44th Street, the 432-unit residential community was built in 1996 by Picerne Real Estate Group and features units with one-, two- and three-bedroom floor plans.

The units offer fully equipped kitchens, washer/dryer units and walk-in closets. Some  apartments feature vaulted ceilings, wood-burning fireplaces and wood-style flooring. Resident amenities include a stand-alone clubhouse, a fitness center open around the clock, controlled-access gated entry, two swimming pools, two spas, common areas featuring free Wi-Fi, barbecue stations, reserved parking facilities and private storage units.

In other investment news, Held Properties Inc. acquired the Chandler Office Center for $9.9 million. Located north of Loop 202 near  Loop 101 and Interstate 10, the  67,600-square foot property was sold by Corporate Center Investments. A team from Cushman and Wakefield Inc. that included Chris Toci, Chad Littell, Karsten Peterson and Dave Seegar arranged the transaction.

Photo courtesy of city-data.com