Arizona

JLL Arranges $154.1M in Financing for Six-Property Retail Portfolio Spanning Three States

by Amy Works September 18, 2026

CALIFORNIA — JLL has arranged $154.1 million in financing for a six-property, 1.3 million-square-foot retail portfolio spanning California, Arizona and Georgia. Chris Drew, John Marshall, Wells Waller, Jarrod Howard, Gabriel Davenport and Preston Bacon of JLL Capital Markets secured financing for the borrowers, Kimco Realty Corp. and an institutional joint venture partner, through institutional investors advised by J.P. Morgan Asset Management. The portfolio includes Morena Plaza in San Diego, Rancho San Diego in El Cajon, Calif., Vail Ranch Plaza and Redhawk Towne Center in Temecula, Calif.; North Decatur Station in Decatur, Ga.; and The Summit at Scottsdale in Scottsdale, Ariz. The portfolio is 99 percent occupied with a 4.6-year weighted average lease term and features grocery anchors, including Costco, Walmart, Whole Foods Market, Sprouts Farmers Market and Safeway. National tenants occupy approximately 76 percent of the portfolio’s gross leasable area, with 46 percent of the tenant roster comprising investment-grade credit.

September 18, 2026

Arizona Development Multifamily Student Housing Western

Subtext Completes 769-Bed Student Housing Development Near Arizona State University

by Amy Works September 17, 2026

TEMPE, ARIZ. — Subtext has completed VERVE Tempe, a 769-bed student housing development located at 1047 S. Terrace Road near the Arizona State University campus in Tempe. Subtext completed the 15-story community in partnership with FrontRange Capital Partners and TPG Real Estate Partners. Kennedy Wilson provided financing. The development team included ESG Architecture & Design and Brinkmann Constructors. VERVE Tempe spans 479,388 square feet and offers 240 units in studio through four-bedroom configurations. Shared amenities include a rooftop pool and clubroom with a game lounge, photo booth and entertaining kitchen; hot tub and cold plunge; outdoor fire pits, a game lawn and grilling stations; two-story fitness center with smart workout equipment, indoor and outdoor fitness spaces, a dedicated yoga room and wellness suite with a meditation room and sauna; golf simulator; study lounge with private and group study spaces; a pet spa and dog run; lobby coffee bar; and 1,800 square feet of ground-floor retail space.

September 17, 2026

Acquisitions Arizona Industrial Western

Oxford Properties, Sagard Real Estate Divest of 113,110 SF Industrial Facility in Chandler, Arizona

by Amy Works September 16, 2026

CHANDLER, ARIZ. — Oxford Properties, in partnership with Sagard Real Estate, has completed the disposition of 800 East Germann Road in Chandler to Cohen Asset Management for an undisclosed price. Will Strong, Jack Stamets, Molly Miller, Michael Matchett and Madeline Warren of Cushman & Wakefield represented the buyer and seller in the deal. Brian Share and Ernesto Sanchez of Cushman & Wakefield led the debt placement, securing a loan through an insurance company lender. Delivered in 2021, the 113,110-square-foot facility features 1.5 acres of secured excess yard space, a fully gated truck court and efficient circulation. Ferguson Enterprises fully leases the property, which is located within Chandler Airpark.

September 16, 2026

Arizona Loans Office Western

Foundation 8 Receives $44.5M Loan for Office Component of Mixed-Use Tower in Downtown Phoenix

by Amy Works September 11, 2026

PHOENIX — Foundation 8 has received a $44.5 million loan secured by the office component of 333 N. Central Avenue, a mixed-use tower in downtown Phoenix. Hilco Group Real Estate Capital structured the first mortgage financing to refinance existing acquisition financing and provide additional capital to support leasing costs, tenant improvements, capital improvements and other costs associated with the execution of Foundation 8’s business plan. New York-based Sterling Realty Capital acted as debt placement agent and financing advisor to Foundation 8 in connection with the transaction. Adi Bedi of Sterling Realty Capital led the financing assignment and worked closely with Foundation 8 and the Hilco Global practice throughout the structuring, underwriting and closing process. Built in 2010, the property comprises 246,490 square feet of office space across the top eight floors of the tower, 2,522 square feet of ground-floor retail space, rooftop amenity rights and shared access to the building’s parking structure. A separately owned 242-key Westin Hotel occupies the middle portion of the building. The financing will support the repositioning of the office space from a historically single-tenant corporate headquarters into a multi-tenant office property. Foundation 8 purchased the office component in December 2025. Originally purpose-built for Freeport-McMoRan, the …

September 11, 2026

Arizona Loans Multifamily Student Housing Western

TSB Capital Arranges Refinancing for 448-Bed Student Housing Community Near Northern Arizona University

by Amy Works September 10, 2026

FLAGSTAFF, ARIZ. — TSB Capital Advisors has secured a refinancing for Commons at Sawmill, a 448-bed student housing community located near the Northern Arizona University campus in Flagstaff. TSB placed a floating-rate loan through Old National Bank on behalf of the borrower, a joint venture between Coastal Ridge Real Estate and Real Estate at Goldman Sachs Alternatives. Delivered in 1992 and renovated in 2023, the community offers 194 units in a mix of studio, two- and four-bedroom configurations. Shared amenities include a clubhouse, fitness center, study lounge, conference space and an outdoor courtyard with grilling stations.

September 10, 2026

Acquisitions Arizona Development Industrial Self-Storage Western

Basis Industrial Buys Land in Surprise, Arizona for Development of 707-Unit Self-Storage Facility

by Amy Works September 9, 2026

SURPRISE, ARIZ. — Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, Fla., has acquired a land parcel at 17140 W. Waddell Road in Surprise for the development of a self-storage facility. Additionally, Basis Industrial closed on a $20.5 million construction loan for the project. NexBank and NexPoint provided the construction financing. The development will encompass approximately 102,673 square feet with 707 climate-controlled storage units upon completion. Construction is expected to begin later this year, with completion and opening slated for fall 2027. The project will be situated within the Truman Ranch master-planned community, including more than 600 new apartment units.

September 9, 2026

Acquisitions Arizona Development Mixed-Use Multifamily Restaurant Retail Western

Evergreen Development Acquires 11.7 Acres in Mesa, Arizona, Plans Mixed-Use Project

by Amy Works September 8, 2026

MESA, ARIZ. — Evergreen Development has acquired 11.7 acres of land in Mesa, with plans to build a mixed-use project that will feature multifamily space and a new retail center. The retail portion of the site is planned to comprise an approximately 8,500-square-foot multi-tenant retail building for restaurant and retail uses, as well as a 2,360-square-foot freestanding Chipotle with a drive thru. The multifamily portion will include 261 apartments across nine three-story buildings. Evergreen plans to break ground on the project in the first quarter of 2027, with lease-up beginning in the second quarter of 2028. Brookfield sold the site for an undisclosed price.

September 8, 2026

Acquisitions Arizona Industrial Western

Lincoln Property Co. Sells Two Industrial Buildings at Park303 in Glendale, Arizona for $170.2M

by Amy Works September 2, 2026

GLENDALE, ARIZ. — Dallas-based Lincoln Property Co. has sold two industrial buildings within Park303 in Glendale. Nuveen Real Estate acquired the assets for $170.2 million. The transaction represents the last of the four buildings sold at Park303, a 210-acre, 3.7 million-square-foot logistics campus located along Loop 303 freeway and Glendale Avenue. The transaction includes Park303 Phase II – Building A, which totals 629,835 square feet and is fully leased to DHL, and Park303 Phase II – Building B, which totals 483,000 square feet and is fully leased to Logisticus Group LLC. Completed in 2025, Park303 Phase II includes three buildings totaling 2.5 million square feet. The phase’s Building C sold in October 2025 to Dollar Tree $147 million. Completed in late 2020, Park303 Phase I totals 1.2 million square feet and is fully leased on a long-term deal to Walmart. BentallGreenOak purchased this building in 2021 for $186 million. Will Strong and Molly Miller of Cushman & Wakefield represented Lincoln in the final Park303 Phase building sales.

September 2, 2026

Arizona Development Mixed-Use Office Retail Western

Trammell Crow Co. Completes Sprouts Farmers Market Headquarters in Phoenix

by Amy Works September 1, 2026

PHOENIX — Trammell Crow Co. has completed a 181,000-square-foot mixed-used development in Phoenix. Project partners include U.S. Realty Advisors, RSP Architects, Wespac Construction, Keyser and JLL. The 8-acre project consists of a 145,000-square-foot Class A office building serving as Sprouts Farmers Market’s corporate headquarters, a 25,000-square-foot flagship Sprouts grocery store and approximately 11,000 square feet of additional retail space. The grocery store opened to the public on July 24, 2026, and the office headquarters building is now ready for occupancy. Located within the CityNorth development near 56th Street and Loop 101, the headquarters features a community garden, rooftop deck, fitness center and culinary kitchens.

September 1, 2026

Acquisitions Arizona Healthcare Industrial Mixed-Use Office Western

Venture West Group Sells Innovation Park in Oro Valley, Arizona for $21.2M

by Amy Works August 27, 2026

ORO VALLEY, ARIZ. — Venture West Group has sold Innovation Park, a 333-acre master-planned business park in Oro Valley, to Bourn Cos. for $21.2 million. Robert Glaser, Richard Kleiner, Greg Furrier, Alexis Corona and Natalie Furrier of Cushman & Wakefield | PICOR represented the seller in the transaction. Kate Zimmerman, also with Cushman & Wakefield | PICOR, supported the transaction. Located at the northwest corner of Oracle and Tangerine roads, the business park is home to a variety of tenants, including Roche Tissue Diagnostics, the University of Arizona Center for Innovation at Oro Valley and Oro Valley Hospital.

August 27, 2026

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