AVONDALE, ARIZ. — Crescent Communities has broken ground on HARMON Ascend, a build-to-rent multifamily community in Avondale. Situated on West Indian School Road, HARMON Ascend will feature 125 three- and four-bedroom, two-story townhomes featuring individual two-car garages. The property is slated to welcome its first residents in spring 2026. HARMOND Ascend will offer charcoal grills, green spaces, lawn games and more to foster community engagement. The project team includes Heitman LLC as account manager, Atwell and Kimley-Horn as civil engineers, BSB Design as architects and Mosaic as general contractor.
QUEEN CREEK, ARIZ. — Creation, in partnership with Horizon Real Estate Ltd., has broken ground on The Switchyard, a $120 million mixed-use project in Queen Creek, about 40 miles southeast of Phoenix. The 10-acre project will feature 54,000 square feet of restaurant, retail and office space, as well as a 215-unit apartment community. The development’s restaurant lineup will feature Postino, a restaurant and wine café; Snooze, an A.M. Eatery, a breakfast and brunch restaurant founded in Denver; and Shake Shack, a modern burger chain. Creation states that lease negotiations are currently underway for most of the remaining spaces. The Switchyard will open in phases, with the first phase slated to deliver in mid-2026. Dallas-based GFF Design is the project’s architect, and LGE Design Build will lead the construction. “The Switchyard represents Queen Creek’s first true walkable, mixed-use development, marking a milestone in the town’s continued growth and evolution,” remarked David Sellers, co-founder of Creation. “With construction now underway, we’re eager to see this place come to life, seamlessly blending retail, dining, office spaces, apartments and a vibrant outdoor environment.” As part of the groundbreaking event for The Switchyard, the development team donated $25,000 to Ryan House, a nonprofit organization that …
CHANDLER, ARIZ. — New York-based TGM has purchased Ocotillo Bay, an apartment property in Glendale, from an undisclosed national fund manager for $90.5 million. The transaction marks TGM’s entry into the Phoenix market. TGM Communities will manage the community, which has been renamed as TGM Ocotillo Bay. Built in 1997, the 296-unit property features two pool areas with cabanas and barbecues; an outdoor lounge area with a bocce ball court, fireplace, barbecue and covered seating area; a resident clubhouse with business center and TV seating area; and a fitness center with weight training and cardio equipment, as well as a separate yoga/spin room. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal.
GLENDALE, ARIZ. — Wespac Construction has completed Marbella Northern Parkway Phase 1, a LEED-certified industrial development in Glendale. Developed by Panattoni Development Co. and designed by Ware Malcomb, the master-planned industrial park will offer six buildings spread across 51 acres. The first phase includes three tilt-panel buildings totaling 445,000 square feet. Each building features two storefront entrances and a north-facing speculative suite, as well as docking sides with automatic ramp-up doors, dock doors with mechanical levelers and designated semi-truck parking.
TUCSON, ARIZ. — Hazen Enterprises has completed the disposition of a single-tenant medical office building located at 4881 Grant Road in Tucson. Elliot Bay Medical Properties Holdings III LLC purchased the asset for $5.5 million. Pain Institute of Southern Arizona fully occupies the 15,000-square-foot property on a long-term lease. Originally constructed in 2008 and renovated in 2024, the property includes 58 surface and 20 covered parking spaces. Travis Ives, Gino Lollio and Tyler Morss of Cushman & Wakefield’s U.S. Healthcare Capital Markets team represented the seller and Bryce Horner of Cushman & Wakefield | PICOR provided local advisory services for the deal.
PHOENIX — Camblin Steel Service has completed the disposition of a freestanding industrial property in Phoenix to Capitol Engineering Inc., an owner/occupier, for $13 million. The buyer will relocate to the facility, which is situated on 11 acres at 1945 W. Broadway Road. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group in Phoenix, in partnership with Bryce MacDonald of the firm’s Sacramento office, represented the seller. Will Groves of Cushman & Wakefield’s Phoenix office represented the buyer in the deal. The 20,400-square-foot building features 14,400 square feet of flex space, 6,000 square feet of office space, four open production/manufacturing bays with overhead shelter and several overhead Kone Cranes. The property was initially built in 2005, with two of the bays constructed in 2013 and 2014. The warehouse features durable concrete tilt-up construction, ample parking for trucks and vehicles and a perimeter of secure fencing. The facility was formerly used as a state-of-the-art structural steel fabrication facility.
GILBERT, ARIZ. — Thompson Thrift has broken ground on The Gilmore, a $225 million mixed-use development located in the Phoenix suburb of Gilbert. The 35-acre project will comprise approximately 200,000 square feet of grocery, restaurant and retail space, 300 luxury apartment homes and a hotel. The development will feature a main street-style entrance with covered walkways, common areas, murals by local artists and landscaped outdoor gathering spaces. More than 25 retail leases have already been signed, including Better Buzz Coffee; Handel’s Ice Cream; Jersey Mike’s; Sweathouz; Rebel Wine Lounge; Square 1 Food Hall; Nook Kitchen; Phantom Fox Brewery; Level 1 Arcade Bar; Woof Gang Bakery & Grooming; Over Easy; and a 64,000-square-foot Safeway. Retailers are expected to begin opening in late 2026, while the first resident move-ins are planned for early 2027.
MESA, ARIZ. — Desert Troon Cos. (DT-SGE LLC and DT-SGW LLC) has completed the disposition of Superstition Gateway Shopping Center to an undisclosed Southern California-based family office for $121 million, or $244 per square foot. Jan Fincham, Mike Sutton and Brent Moser of Lee & Associates Arizona represented the seller in the off-market transaction. The seller was part of the original development partnership that built the shopping center almost 20 years ago. Situated on 65.7 acres at the southwest corner of US-60 and Signal Butte Road, Superstition Gateway offers 495,000 square feet of retail space, totaling 19 individual parcels. Current tenants at the 90 percent-occupied center include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress for Less, Marshalls, Five Below, PetSmart, Panera Bread, KFC, In-N-Out Burger and Chili’s. The asset was constructed in 2006 and 2012.
TUCSON, ARIZ. — Coral Sea LLC has purchased 5,584 square feet of industrial space at 3101, 3125 and 3141 E. Ajo Way in Tucson from PMC Revocable Trust and Vista Pacifica Properties for $1 million. Paul Hooker of Cushman & Wakefield | PICOR represented the buyer, while Jeramy Price of Volk Co. represented the seller in the deal.
PHOENIX — Living Well Homes has completed the disposition of Azul, a multifamily community in Phoenix, to a private buyer for $37.1 million, or $163,436 per unit. Completed in 1986, Azul offers 227 studio, one- and two-bedroom apartments with an average unit size of 766 square feet and in-unit washers/dryers in most floor plans. The two-story, garden-style community features two swimming pools and a spa. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
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