Arizona

Newmark Brokers $32.2M Sale of Thirty 03 Office Tower in Midtown Phoenix

by Amy Works February 6, 2026

PHOENIX — Newmark has brokered the sale of Thirty 03, a Class A office building located at 3003 N. Central Ave. in Phoenix. A Canada-based private buyer acquired the 26-story tower from Vancouver, Canada-based Balfour Pacific for $32.2 million. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark represented the seller in the deal. Offering 458,047 square feet of office space, Thirty 03 has undergone nearly $11 million in transformative capital improvements. Implemented in 2019, the plan included extensive lobby upgrades, full elevator modernization and speculative suites. At the time of sale, the building was 81 percent leased to a diverse mix of tenants spanning legal, healthcare, architectural, banking, government and professional services sectors.

February 6, 2026

Arizona Loans Multifamily Western

Knighthead Funding Arranges $11M Refinancing for Apartment Community in Tempe, Arizona

by Amy Works February 5, 2026

TEMPE, ARIZ. — Knighthead Funding has arranged an $11 million refinancing loan for The Heights on Lemon, a multifamily property in Tempe. The loan will refinance the existing facility and provide financial flexibility to the borrower, 1224 Lemon LLC, and its sponsor, Robert La France. With more than 11 years of multi-state real estate investor experience, La France acquired The Heights on Lemon in 2021. Built in 1976 and fully renovated in 2021, The Heights on Lemon features 65 apartments spread across four buildings. The property was 98 leased at the time of financing. The asset offers 84 parking spaces, a community pool and in-unit washers/dryers. Reuben Hedaya and Noah Schulman of Pivot Real Estate represented the borrower.

February 5, 2026

Acquisitions Arizona Multifamily Seniors Housing Western

PGIM Sells Two-Property Seniors Housing Portfolio in Metro Phoenix

by Amy Works February 3, 2026

GILBERT AND MESA, ARIZ. — PGIM has arranged the sale of a two-property seniors housing portfolio in metro Phoenix. The portfolio includes The Watermark at Morrison Ranch in Gilbert and Acoya Mesa, which is jointly owned by the original developer Ryan Cos. US, in Mesa. JLL Capital Markets represented the seller in the deal. Additionally, JLL worked on behalf of the undisclosed buyer to secure a 10-year acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, a Freddie Mac Optigo Lender for seniors housing loans. Built in 2019, The Watermark at Morrison Ranch features a two-story building with 115 units of assisted living and memory care units. The property offers Class A amenities including three distinctive dining venues, a fitness center, technology center, library and full-service salon. The asset is situated on 4.6 acres at 3333 E. Morrison Ranch Parkway. Developed and built by Ryan Cos. in 2019, Acoya Mesa consists of a three-story building offering 51 units of independent living, 91 units of assisted living and 28 units of memory care. Common areas feature a café/bistro/pub, restaurant-style dining, a movie theater, salon, game room, activities room and library. Acoya Mesa is situated on 7.9 …

February 3, 2026

Acquisitions Arizona Loans Multifamily Western

IPA Brokers Sale, Arranges Financing for 335-Unit Multifamily Property in Chandler, Arizona

by Amy Works January 30, 2026

CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Avant at Fashion Center, an apartment community in Chandler. Steve Gebing and Cliff David of IPA represented the undisclosed seller and procured the undisclosed buyer. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged the financing. Built in 2017 on more than 11 acres, Avant at Fashion Center features 335 apartments with nine- and 10-foot ceilings, breakfast bars or kitchen islands and full-size washers/dryers. Select floorpans have wine refrigerators and wireless sound systems. Community amenities include a swimming pool and spa surrounded by a glass enclosure and a courtyard with grilling stations, café seating, hammocks and a game area.

January 30, 2026

Acquisitions Arizona Multifamily Western

Investors Capital Group Acquires Vertical East Apartments in Tucson for $22M

by Amy Works January 27, 2026

TUCSON, ARIZ. — Vertical Street Ventures has sold Vertical East Apartments in Tucson to Seattle-based Investors Capital Group for $22 million. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller. The property was developed in 2001 and is comprised of two- and three-bedroom floor plans. Community-wide amenities include a pool and hot tub, a picnic area and a dog park.

January 27, 2026

Acquisitions Arizona Industrial Western

EQT Real Estate Buys 663,367 SF Industrial Facility in Glendale, Arizona

by Amy Works January 26, 2026

GLENDALE, ARIZ. — EQT Real Estate has acquired Commerce @ 303, a Class A industrial property and adjacent entitled, shovel-ready 32.6-acre development site at 5215 N. Alsup Road in Glendale, from New York Life Real Estate Investors and SteelWave for an undisclosed price. Developed by SteelWave, Commerce @ 303 features a 663,367-square-foot, cross-dock industrial facility. Built in 2022, the facility is currently fully leased to two third-party logistics providers. The adjacent parcel is a shovel-ready site, allowing for the development of a 497,2354-square-foot industrial facility, enabling the construction of a nearly 1.2 million-square-foot industrial campus. EQT plans to begin construction on a speculative building on the development site with an estimated delivery date of fourth-quarter 2026. Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren of Cushman & Wakefield handled the transaction.

January 26, 2026

Arizona Development Retail Top Stories Western

Vestar Completes $100M Vineyard Towne Center Retail Development in Queen Creek, Arizona

by Abby Cox January 23, 2026

QUEEN CREEK, ARIZ. — Vestar, a privately held shopping center developer and manager based in Phoenix, has announced the completion of Vineyard Towne Center, a 260,000-square-foot retail development located in Queen Creek, approximately 45 miles southeast of Phoenix. Following the 2021 groundbreaking, the $100 million development is now fully leased. “This center has seen incredible leasing momentum, and the strong response from both tenants and residents underscores the demand for high-quality destinations that blend convenience, variety and an elevated sense of place,” says Jeffrey Axtell, executive vice president of development at Vestar. Situated at the corner of Gantzel and Combs roads, Vineyard Towne Center is anchored by a 145,000-square-foot Target, which opened in October 2025. The tenant roster also includes Sprouts Farmers Market, Mountain America Credit Union, Academy Bank, LifeQuest, Cadence Running Company, Mattress Firm, Zara Nail Bar, Dentists of Queen Creek, Keep It Cut, European Wax Center, Crown One Beauty Supply, Five Guys, Better Buzz Coffee, Thai Chili 2Go, McDonald’s, Over Easy, Café Rio, Cinnaholic, Zaxby’s, Nekter Juice Bar, Mr. Pickle’s Sandwich Shop, Wingstop and Ono Hawaiian BBQ. Additional retailers, such as Verizon Wireless and My Dr. Now, have recently opened at the open-air center, with Pet Supplies Plus slated to …

January 23, 2026

Arizona Industrial Loans Western

Gantry Secures $16.5M Refinancing for Two Industrial Facilities in Metro Phoenix

by Amy Works January 21, 2026

PHOENIX — Gantry has secured two permanent loans, totaling $16.5 million, for one borrower to refinance maturing debt on a pair of industrial properties in metro Phoenix. The first property is a 79,000-square-foot modern industrial building with a fenced truck court located in the Southwest Valley submarket of Phoenix, and the second asset is a 113,000-square-foot modern warehouse property with two buildings in Phoenix’s Northwest Valley submarket. Both facilities were fully leased to long-term tenants at the time of sale. Tim Storey, Chad Metzger and Andrew Christopherson of Gantry represented the borrower, a private real estate investor. Both loans were secured from one of Gantry’s correspondent life company lenders and feature full-term, interest-only payments at a fixed rate. Gantry will service both loans on behalf of its correspondent lender.

January 21, 2026

Acquisitions Arizona Retail Western

Hanley Investment Real Estate Advisors Arranges $23M Sale of Mountain Ranch Marketplace in Goodyear, Arizona

by Amy Works January 20, 2026

GOODYEAR, ARIZ. — Hanley Investment Real Estate Advisors has arranged the $23 million sale of Mountain Ranch Marketplace, a 49,683-square-foot shopping center located in Goodyear, approximately 19 miles west of Phoenix. Originally built in 2009 on 12.4 acres, Mountain Ranch Marketplace was 94.6 percent occupied at the time of sale to tenants such as AutoZone, Starbucks, Papa John’s Pizza, Subway, Leslie’s Pool Supplies, Verizon, Edward Jones, North Star Animal Hospital, Oasis Bagels, T&T Martial Arts Academy and Great Clips. Tenants not included in the sale are Safeway, McDonald’s, Taco Bell, Walgreens and Chase Bank. Bill Asher, Jeremy McChesney and Lee Csenar of Hanley represented the buyer, Bershon Realty Co., in the transaction. Ryan Schubert, Michael Hackett and Zach Aulick of CBRE represented the seller and developer, Kitchell Development Co.

January 20, 2026

Acquisitions Arizona Retail Western

Tucson Newcrest Buys 62,750 SF Retail Space at Eastpoint Marketplace in Tucson, Arizona

by Amy Works January 20, 2026

TUCSON, ARIZ. — Tucson Newcrest has acquired 62,750 square feet of retail space at Eastpoint Marketplace, located at 6964-6970 E. 22nd St. in Tucson. Eastpoint Kolb Additional Investors LLC, JRSL LLC, Union Financial Management Services and JDW CAT 10 sold the asset for $12.8 million. Rob Tomlinson of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.

January 20, 2026

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