SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Hayden Corporate Center, a two-story office building located at 8283 N. Hayden Road in Scottsdale. Hayden Corporate Center LLC sold the asset to Revelation RE, with Bret Anderson as principal, for $10 million. The multi-tenant property consists of two wings adjoined by a two-story central lobby. Hayden Corporate Center features floor plates of 27,500 square feet, narrow bay depths and ample window lines. The new ownership plans to renovate the exterior and interior, as well as upgrading several major building systems.
FLAGSTAFF, ARIZ. — CBRE has arranged the ground-lease sale of a single-tenant retail property located at 1010 N. Country Club Drive in Flagstaff. Viking Properties VII LLC, a California-based farming family, acquired the asset for $8.4 million. Ben Farthing and Owen Littrell of CBRE represented the sellers, two Tucson-based private capital investors, in the all-cash transaction. 7-Eleven occupies the property on an absolute triple-net lease with 12 years remaining. The site includes 12 fueling stations, a car wash and a convenience store.
SURPRISE, ARIZ. — Christopher Todd Capital has acquired Yardly Paradisi, a 193-unit build-to-rent (BTR) property in Surprise, from Taylor Morrison. Northmarq arranged the sale as well as $32.8 million in acquisition financing. Scottsdale, Ariz.-based Taylor Morrison is a for-sale homebuilder that also develops and acquires newly constructed for-rent housing communities under its Yardly brand. The buyer is a BTR operator known for its Christopher Todd Communities brand. Northmarq’s Phoenix-based team, led by Trevor Koskovich, Jesse Hudson and Logan Baca, represented the seller in the transaction, while Brandon Harrington, Bryan Mummaw, Bryan Liu, Christopher Gitibin and Tyler Woodard arranged the acquisition financing on behalf of the buyer. Yardly Paradisi will be rebranded under the Christopher Todd Communities umbrella as Christopher Todd Communities Paradisi.
PHOENIX — Speed Bay, sponsored by Academy Partners Group, has purchased a 228,733-square-foot portfolio of industrial properties in Phoenix from Top Ten Properties for $43.7 million, or $191.27 per square foot. The portfolio includes Carleton Square at 1711-1741 W. Rose Garden Lane, Top 10 Business Center at 4845 and 4855 W. McDowell Road and Valley Commerce Center at 4810-4828 S. 40th St. KBC Advisors represented the buyer, while the Leroy Breinholt team at Commercial Properties Inc./CORFAC International represented the seller in the deal.
GLENDALE, ARIZ. — Lincoln Property Co. and Goldman Sachs have completed the disposition of the 1.3 million-square-foot Building C at Luke Field in Glendale. Walmart acquired the asset for $152.1 million. Luke Field, located at 13803 and 13543 Northern Ave. and 7733 Litchfield Road, spans three Class A industrial buildings: a 695,750-square-foot Building A, a 454,761-square-foot Building B and a 1.3 million-square-foot Building C. Each building features a clear height of 40 feet, 25-foot tall glass entries, 3,000 amps of power (expandable), automated dock doors, steel moment frame shear bracing and 5-foot by 10-foot clerestory windows. The project also includes Lincoln’s creative industrial amenities, including barbecue stations, a shaded outdoor eating area and employee collaboration spaces. Lincoln serves as the property manager and leasing agent for Luke Field. JLL’s Marc Hertzberg and Josh Lydon represented the buyer in the Building C acquisition.
GILBERT, ARIZ. — Richard Scheinfeld of Top Ten Properties has acquired Power Commerce Park, a small-bay industrial campus in Gilbert, part of Phoenix’s Southwest Valley submarket. Dave Cavan of Cavan Commercial sold the asset for $55 million, or $376.57 per square foot. Built in 2023, Power Commerce Park features 146,052 square feet of Class A industrial space adjacent to the Elliot Road Tech Corridor and Phoenix-Mesa Gateway Airport. The Leroy Breinholt team at Commercial Properties Inc./CORFAC International represented the seller in the transaction.
TUCSON, ARIZ. — Marcus & Millichap has arranged the $3 million sale of a restaurant property located at 6210 E. Broadway Blvd. in Tucson. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap represented the seller, an Arizona-based limited liability company, through a partnership with DSW Commercial Real Estate and Iridius Capital, and procured the buyer, a California-based limited liability partnership. Starbucks Coffee occupies the 2,200-square-foot property, which was built in 2024, on a new 10-year, corporate guaranteed net lease.
TEMPE, ARIZ. — Creation and LGE Design Build have broken ground on a 6-acre industrial development in Tempe. The project will encompass 120,000 square feet across two buildings, with joint venture partner Pacific Office Automation preleasing one building as its Southwest market headquarters. LGE Design Build is serving as architect and general contractor of the project, overseeing the ground-up construction of Pacific Office Automation’s 75,000-square-foot headquarters, in addition to a 45,000-square-foot building available for lease or sale. The development will feature 32-foot clear heights, a shared truck court and 185 parking spaces, including eight electric vehicle charging stations and 14 bike parking spaces. The project is located at 1400 W. 3rd St. Construction is underway, with completion slated for late 2026.
CHANDLER, ARIZ. — Phoenix Commercial Advisors has arranged the sale of Chandler Sunset Plaza, an entertainment- and fitness-anchored shopping center on 13 acres at the northeast corner of Rural and Ray roads in Chandler. The asset traded for $25.9 million, or $242 per square foot. Totaling 107,320 square feet, the property was 95 percent leased to a mix of national and local tenants, including Pickleball Kingdom, Jack in the Box, First Watch and Own Your Dream Sports Academy. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.
— By Bryan Ledbetter of Western Retail Advisors — Phoenix’s retail market continues to surge. Vacancies are dipping below 5 percent, gross absorption is exceeding 1.5 million square feet in the third quarter and asking triple-net rates continue to increase, reaching into the mid-$50 to $60 per square foot range for newly constructed space. West Valley Leads the Charge in New Development After decades of limited retail construction, metro Phoenix — and the West Valley, in particular — are flush with new space. Projects like SimonCRE’s Prasada in Surprise and Vestar’s Verrado in Buckeye are among the major new developments providing the high-end availability that tenants and residents have been asking for. Although elevated debt and construction costs have tempered new development, more than 1.2 million square feet is still under construction. The lion’s share of that product is already pre-leased. This keeps developers and investors bullish on Phoenix, and on the lookout for the Valley’s next development frontier. Though the West Valley reigns as Phoenix’s latest retail boom market, outliers in the East Valley are teeing up for their turn in the spotlight. Apache Junction is a great example… Far Southeast Valley Emerges as a Growth EngineA neighbor of …
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