Arizona

Northern-Parkway-Logistics-Center-Glendale-AZ

Panattoni Receives $58.7M Refinancing for Northern Parkway Logistics Center in Glendale, Arizona

by Amy Works November 11, 2026

GLENDALE, ARIZ. — Panattoni Development Co. has received $58.7 million in refinancing for Northern Logistics Center, a Class A industrial portfolio in Glendale. Jason Carlos, Frank Choumas, Ross Jorgensen and Andrew Mings of JLL Capital Markets secured the three-year, floating-rate loan through Mesa West Capital for the borrower. Completed in 2025, Northern Parkway Logistics Center features 445,187 square feet of industrial space spread across three buildings at 12815 W. Northern Ave. and 12795 W. Northern Ave. The property features 32- to 36-foot clear heights, 73 dock-high doors, eight grade-level doors, heavy power capabilities ranging from 3,000 to 6,000 amps, ESFR sprinkler systems, 62 trailer parking stalls and 451 vehicle parking spaces. The buildings are designed to accommodate both single-tenant and multi-tenant users. At the time of financing, the property was 57.9 percent leased.

November 11, 2026

Arizona Loans Multifamily Western

Dinerstein Cos., PCCP Receive $92.1M Refinancing for Multifamily Community in Mesa, Arizona

by Amy Works November 10, 2026

MESA, ARIZ. — The Dinerstein Cos. and PCCP have received $92.1 million in refinancing for Atlas Mesa, a Class A garden-style apartment property located at 5818 E. Baseline Road in Mesa. JLL Capital Markets represented the borrowers in arranging the loan through QuadReal Property Group. Delivered in 2025, Atlas Mesa is a four-story property offering 394 studio, one-, two- and three-bedroom layouts with an average unit size of 991 square feet. Unit amenities include two-toned kitchen cabinets, quartz countertops, wood-style flooring, full-size washers/dryers, indoor air quality systems and stainless steel appliances in select units. Community amenities include an outdoor sky deck and landscaped courtyards, private and group coworking spaces, an indoor/outdoor fitness center, barbecue grills, a pool with a deck, spa and lounge seating, a resident social lounge with full kitchen and TVs, a dog park, pet spa and a bike storage and repair station. Brad Miner, Cameron Cureton, Drew Lydon, Justin Savoie, Andrew Pappas and Jack Kurschat of JLL secured the financing for the borrowers.

November 10, 2026

Acquisitions Arizona Retail Western

PREP Property Group Acquires 480,000 SF Promenade at Casa Grande Shopping Center in Arizona

by Amy Works November 10, 2026

CASA GRANDE, ARIZ. — PREP Property Group has purchased Promenade at Casa Grande, a regional shopping center in Casa Grande, approximately 50 miles south of Phoenix. Terms of the acquisition were not released. Located at the northeast corner of I-10 and Florence Boulevard, Promenade at Casa Grande offers 480,000 square feet of retail space. Current tenants include Harkins Theatres, Ross Dress for Less, Marshalls, HomeGoods, Burlington, Michaels, Ashley Furniture, PetSmart, Five Below, Bath & Body Works, Shop Dept. Encore, Ulta Beauty and Dollar Tree.

November 10, 2026

Arizona Loans Office Property Type Western

RED Development Receives $69.3M Refinancing for Offices at The Grove in Phoenix

by Amy Works November 9, 2026

PHOENIX — RED Development has obtained $69.3 million in refinancing for The Offices at The Grove, a Class AA office building in Phoenix. Kevin Mackenzie, Jason Carlos and Frank Chums of JLL Debt Advisory team arranged the five-year, fixed-rate loan with PGIM’s real estate investment group for the borrower. The financing collateral consisted of the office building, Pyro restaurant, two retail spaces and an underground parking facility. Completed in fourth-quarter 2022, The Offices at The Grove features 185,536 square feet of fully leased office space. Current tenants include JPMorgan Chase, Clayco, First Solar, JLL, PwC, Caterpillar and Aon. The property offers best-in-class amenities, including a rooftop pickleball court and pavilion, first-floor dining with Pyro (a Japanese izakaya bistro by Flagship Restaurant Group), views of Camelback Mountain and 631 parking spaces in shared structured parking.

November 9, 2026

Acquisitions Arizona Retail Western

A&C Properties Sells Grocery-Anchored Retail Portfolio in Arizona for $108.7M

by Amy Works November 6, 2026

CHANDLER, CAVE CREEK, GILBERT, MESA AND TUCSON, ARIZ. — A&C Properties Inc. has completed the sale of Arizona Grocery Portfolio, a grocery-anchored retail portfolio in Phoenix and Tucson, to 11North Partners for $108.7 million. Totaling 422,949 square feet, the seven-property portfolio is currently 96 percent occupied with Fry’s Food & Drug as anchor tenant. The portfolio includes Gilbert Fiesta Marketplace, Shops at Gilbert Fiesta and Township Plaza in Gilbert; Riggs Marketplace in Chandler; Lindsay Marketplace in Mesa; Tatum Plaza in Cave Creek and Randolph Plaza in Tucson. Patrick Dempsey, Tess Berghoff and Ross Jorgensen of JLL Capital Markets represented the seller in the transaction. Jarrod Howard of JLL arranged $66.4 million in acquisition financing through an insurance company for the buyer.

November 6, 2026

Arizona Loans Multifamily Western

CrossHarbor Capital Secures $78.5M in Construction Financing for Multifamily Community in Tempe

by Amy Works November 6, 2026

TEMPE, ARIZ. — CrossHarbor Capital Partners has received $78.5 million in construction take-out financing for The Alyssa, a Class A apartment property in Tempe. Brad Miner, Drew Lydon, Jack Kurchat and Henry Smith-Hastie of JLL Capital Markets Debt Advisory secured the loan form Corten Real Estate through its senior credit platform. Delivered in 2024, the four-story The Alyssa features 335 studio, one-, two- and three-bedroom floor plans ranging from 504 square feet to 1,658 square feet with an average unit size of 881 square feet. Unit interiors include natural stone countertops, Shaker-style cabinetry, wood-style flooring, custom pendant and under-cabinet lighting, stainless steel appliances, 10-foot ceilings in living rooms and full-size in-unit washers/dryers. The community features a resort-style amenity package, including a swimming pool with fountain features and sundeck, an outdoor lounge with fireplace and private dining spaces, Peloton-equipped fitness center with cardio and strength equipment, coworking lounges with coffee bar, 605-space controlled-access parking garage with EV charging stations and a community pet wash station.

November 6, 2026

Acquisitions Arizona Healthcare Western

Meridian, Harrison Street Dispose of 182,900 SF El Dorado Medical Plaza in Tucson

by Amy Works November 6, 2026

TUCSON, ARIZ.— Meridian and Harrison Street Asset Management have completed the sale of El Dorado Medical Plaza, a three-story healthcare campus located at 1400 N. Wilmot Road in Tucson. Franklin, Tenn.-based Medical Realty acquired the asset for an undisclosed price. Situated on 11.7 acres, El Dorado Medical Plaza offers 182,900 square feet of medical office space, a surgery center and hospital uses. The facility is anchored by Tucson Medical Center (TMC) and El Dorado Springs Behavioral Health, a Lifepoint Health behavioral health hospital. Meridian, in partnership with Harrison Street, negotiated a lease extension with TMC, which now occupies approximately 78,000 square feet of the property. JLL’s Medical Properties Group represented the seller in the deal. Andrew Milne, Evan Kovac, Matt DiCesare and Sam Prendergast of JLL facilitated the sale, while John Chun and Jarrod Howard of JLL arranged financing for the buyer. Meridian and Harrison Street purchased El Dorado Medical Plaza in March 2021 through a joint venture partnership. During its ownership, the joint venture invested in capital improvements at the property and worked with its major tenants on multi-year lease commitments and expansions.

November 6, 2026

Acquisitions Arizona Office Western

CBRE Brokers $19.7M Sale of Two-Building Office Park in Peoria, Arizona

by Amy Works November 5, 2026

PEORIA, ARIZ. — CBRE has arranged the sale of Thunderbird 101, a two-building office park at 14050 and 14100 N. 83rd Ave. in Peoria. An undisclosed seller sold the asset to a buyer group including Holualoa Cos. and David Walter of DWRE. Geoffrey Turbow and Anthony DeLorenzo of CBRE represented the undisclosed seller in the transaction. Completed in 2005, Thunderbird 101 consists of two two-story multi-tenant office buildings on 10.9 acres. Totaling 143,597 square feet, the property offers a range of suite sizes for healthcare, financial services, real estate and other professional services users, as well as 718 parking spaces. CBRE’s Property Management will manage the property, and Ashley Brooks and Jasmina Bays of CBRE will lead leasing efforts for the asset.

November 5, 2026

Arizona Development Multifamily Western

Origin Investments, Mill Creek Residential to Develop 190-Unit Apartment Community in Old Town Scottsdale

by Amy Works October 29, 2026

SCOTTSDALE, ARIZ. — Origin Investments and Mill Creek Residential have unveiled plans to develop Modera Old Town, a multifamily property in Old Town Scottsdale. Construction on the 190-unit property will begin in October, with completion slated for mid-2029. The new development is the second venture between Origin and Mill Creek Residential and is an expansion of Mill Creek’s Modera brand. Situated on 2 acres at 7120 E. Indian School Road, Modera Old Town will feature 73 one-, 101 two- and 16 three-bedroom apartments averaging 1,076 square feet. Apartment interiors will include stainless steel appliances, quartz countertops, tile backsplashes, vinyl-plank flooring, premium cabinetry, kitchen islands, undermount sinks, under-cabinet lighting, full-size washers/dryers, private patios or balconies, roller shades and smart home features. Community amenities will include a resort-style pool, an outdoor kitchen, poolside cabanas, lounge seating, and outdoor grilling and entertainment areas with a fire feature. Additional amenities will include a resident clubhouse, entertainment lounge, modern dining and bar space, a fitness center, coworking spaces and private conferences rooms. For Origin, Modera Old Town represents the final investment in its Opportunity Zone Fund III and its 22nd overall opportunity zone development. Modera Old Town is Mill Creek’s 12th opportunity zone development.

October 29, 2026

Acquisitions Arizona Multifamily Western

Founders Group Sells 202-Unit Multifamily Community in Tucson

by Amy Works October 23, 2026

TUCSON, ARIZ. — The Founders Group has completed the disposition of The Place at 2120, an apartment property in Tucson. AndMark acquired the property for $18 million, or $89,356 per unit. Hamid Panahi and Clint Wadlund of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 1986 on more than 7 acres, The Place at 2120 features 202 one-, two- and three-bedroom floor plans, with select units offering vaulted ceilings and linen closets. Community amenities include a swimming pool and spa, a fitness center, dog park, laundry facilities and playground. Previous ownership upgraded approximately 90 percent of the unit interiors.

October 23, 2026

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