Arizona

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

Acquisitions Arizona Industrial Western

DAUM Negotiates $10.6M Sale of Industrial Building in Phoenix

by Amy Works October 20, 2026

PHOENIX — DAUM Commercial Real Estate Services has negotiated the sale of a freestanding industrial building located at 2520 E. Rose Garden Lane in Phoenix. A private Taiwanese investment company acquired the asset from a privately held California company for $10.6 million. Situated in Phoenix’s Deer Valley submarket, the property offers 43,338 square feet of single-tenant industrial space, including 6,500 square feet of office space. Both the office and manufacturing areas are fully air conditioned. The building features a clear height of 18 feet, two dock-high loading doors and one ground-level loading door. Trevor McKendry, Chris Rogers, Parker Houston, Nick Reinhardt, Beau Citron and Nick Fajardo of DAUM represented the seller and procured the buyer in the off-market transaction.

October 20, 2026

Acquisitions Arizona Office Western

North Beacon Capital Sells 120,516 SF Chandler Center Commons in Arizona

by Amy Works October 19, 2026

CHANDLER, ARIZ. — Boston-based North Beacon Capital has completed the sale of Chandler Center Commons, a 10-building office campus in Chandler, to Chandler Commons Partners LLC for $30.5 million. Geoffrey Turbow of CBRE represented the seller in the deal. Jamie Swirtz, also of CBRE, assisted with the sale and serves as the property leasing agent for the property. Situated on 11.9 acres at 5500-5590 W. Chandler Blvd., Chandler Center Commons features 120,516 square feet of office space that is 94.4 percent leased to 19 office and medical office tenants. Current tenants include Action Behavior Centers, Brightmont Academy, Movement Mortgage and Retail Technology. Chandler Center Commons is located within 2.5 miles of Interstate 10, Loop 101 and Loop 202, as well as less than two miles from Chandler Fashion Center.

October 19, 2026

Arizona Development Loans Multifamily Western

Max Benjamin Partners Arranges $74.8M in Construction Financing for Townhome Property in Flagstaff, Arizona

by Amy Works October 16, 2026

FLAGSTAFF, ARIZ. — Beverly Hills, Calif.-based Max Benjamin Partners has secured a $74.8 million nonrecourse loan for Red Oak Development for the construction of Pine Haven, a townhome property located at 2951 S. Masonic Lane in Flagstaff. Cameron Lind of Max Benjamin Partners arranged the loan for the borrower. Totaling 83 townhomes, Pine Haven will offer three home collections — Ponderosa, Aspen and Juniper — each a three-bedroom, 2.5-bath townhome with a two-car garage and indoor/outdoor living space. The development will also include a dedicated wellness amenity center with a cold plunge, a Spanish cedar sauna and a Japanese meditation room. Situated on 13.8 acres in Arizona’s Coconino National Forest, roughly half of the property will remain preserved as forest. The community is backed by an extensive public trail system and will have dark-sky compliant lighting throughout. First unit sales are expected to commence in late 2027.

October 16, 2026

Acquisitions Arizona Industrial Western

Sierra Ridge Capital Buys 123,032 SF Industrial Building in Phoenix for $31M

by Amy Works October 15, 2026

PHOENIX — Los Angeles-based Sierra Ridge Capital has acquired 3137 East Elwood Street, an industrial property in Phoenix, from Arizona-based 3137 East Elwood LLC for $31 million. Gary Cornish, Nico Burgarello, Barry Gabel, CJ Osbrink and Chris Marchildon of Newmark represented the seller in the deal. Built in 1995 and renovated in 2026, the 123,032-square-foot property features a clear height of 22 feet, 10 oversized grade-level loading doors, one truckwell, secure yard space, heavy power capacity and full HVAC coverage. Situated on 9.8 acres in Phoenix’s Southbank Business Park, the property was fully leased to three tenants at the time of sale.

October 15, 2026

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