Arizona

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

Arizona Development Multifamily Student Housing Western

LV Collective Completes 829-Bed Student Housing Community Near Arizona State University

by Amy Works August 26, 2026

TEMPE, ARIZ. — LV Collective, in partnership with Kayne Anderson Real Estate, has completed Rambler Tempe, a purpose-built student housing property located at 1020 E. Apache Blvd. in Tempe, home of Arizona State University. Project partners included Shepley Bulfinch as architect, Layton as general contractor and Variant Collaborative as interior designer. Pacific Life provided debt financing for the project. The 14-story, 552,380-square-foot Rambler Tempe features 289 units totaling 829 beds in a mix of studio, one-, two-, three- and four-bedroom floor plans. Move-ins started in late July.

August 26, 2026

Arizona Development Industrial Western

Creation Breaks Ground on 700,000 SF Avondale Tech Center in Arizona

by Amy Works August 20, 2026

AVONDALE, ARIZ. — Local developer Creation, in partnership with a real estate fund advised by Crow Holdings Capital, has broken ground on Avondale Tech Center, a 700,000-square-foot Class A industrial campus on the western outskirts of Phoenix. LGE Design Build is serving as both architect and general contractor for the project, which is slated for completion in third-quarter 2027. Situated on 38 acres on the northwest corner of 117th Avenue Corporate Drive, Avondale Tech Center will feature three buildings ranging in size from 212,184 to 254,264 square feet. The buildings will offer 36-foot clear heights, seven-inch unreinforced slab floors, four EV chargers with eight charging stalls per building and fully gated entry. Riley Gilbert, John Lydon and Kelly Royle of JLL are handling leasing efforts for the development.

August 20, 2026

Arizona Loans Retail Western

CBRE Arranges $45.8 Million Loan for Refinancing of Scottsdale Towne Center

by Matthew Auchincloss August 19, 2026

SCOTTSDALE, ARIZ. — CBRE has arranged a $45.8 million loan for the refinancing of Scottsdale Towne Center, a 168,090-square-foot power center located at 15444 N. Frank Lloyd Wright Blvd. in Scottsdale. The center is nearly 100 percent leased and is anchored by TJ Maxx, Ross and Mountainside Fitness and shadow-anchored by Target. Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo of CBRE Capital Markets’ Debt and Structured Finance team secured a five-year, fixed-rate, full-term interest-only loan on behalf of the owner, who acquired the property in 2021.

August 19, 2026

Arizona Loans Retail Western

CBRE Arranges $45.8M Loan for Refinancing of Retail Center in Scottsdale, Arizona

by Amy Works August 18, 2026

SCOTTSDALE, ARIZ. — CBRE has arranged a $45.8 million loan for the refinancing of Scottsdale Towne Center, a retail center located at 15444 N. Frank Lloyd Wright Blvd. Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo with CBRE Capital Markets’ Debt and Structured Finance secured the five-year interest-only, fixed-rate loan on behalf of the undisclosed owner. The 168,090-square-foot retail center was nearly 100 percent leased at the time of the loan closing, with current tenants including T.J. Maxx, Ross Dress for Less and Mountainside Fitness. Additionally, the property is shadow-anchored by Target. The sponsor acquired Scottsdale Towne Center in 2021 and subsequently leased a previously vacant 50,000-square-foot space to Mountainside Fitness’ for a flagship location.

August 18, 2026

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