Arizona

Wood Partners Sells 278-Unit Alta Rise Multifamily Community in Gilbert, Arizona

by Amy Works May 29, 2026

GILBERT, ARIZ. — Wood Partners has completed the disposition of Alta Rise, an apartment property in Gilbert. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Terms of the transaction were not released. Completed in 2025, Alta Rise features 278 apartments with walk-in closets with built-in shelving, kitchens with quartz countertops, soft-close cabinetry and French door refrigerators. The four-story community includes a fourth-floor lounge and Skydeck, a bodega, speakeasy, lawn with yard games and a firepit, a multipurpose field, pickleball courts and a swimming pool and spa.

May 29, 2026

Acquisitions Arizona Retail Western

Marcus & Millichap Arranges $9.7M Sale-Leasebacks of Two Car Wash Properties in Arizona

by Amy Works May 29, 2026

TUCSON AND GLENDALE, ARIZ. — Marcus & Millichap has negotiated the sales of two single-tenant Super Star Car Wash properties in Tucson and Glendale for a combined $9.7 million. Super Star Car Wash sold the assets to two separate buyers for a combined $9.7 million in sale-leaseback transactions. The Tucson property, located at 8690 E. Golf Links Road, sold for $4.7 million. Built in 2024, the 4,226-square-foot car wash sits on approximately 1.2 acres. The Glendale property, located at 5131 W. Olive Ave., sold for $5 million. Completed in 2025, the 4,620-square-foot asset occupies approximately 1.1 acres. Founded in 1993, Super Star Car Wash operates approximately 117 locations across Arizona, California, Colorado and Texas. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office marketed the Tucson property on behalf of the seller and procured the buyer. In the Glendale deal, the team represented the buyer, a family trust, and the seller in the off-market sale.

May 29, 2026

Arizona Colorado Indiana Loans Minnesota Multifamily Top Stories

Harbor Group, Garrett Cos., Telis Group Receive $351M Refinancing for Multifamily Portfolio

by Hayden Spiess May 28, 2026

NORFOLK, VA. — Affiliates of Harbor Group International, in partnership with The Garrett Cos. and Telis Group, have received a $351 million loan for the refinancing of an eight-property multifamily portfolio across four states. ACRE, a vertically integrated real estate fund manager, provided the financing. Totaling 1,573 units, the portfolio is located in Arizona, Colorado, Indiana and Minnesota, with properties in the Denver, Colorado Springs, Phoenix, Indianapolis and Minneapolis metropolitan areas. The communities included in the portfolio were developed between 2024 and 2026 and are part of a larger, 11-property portfolio that was refinanced by the borrowers in January 2025. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Rimer, Michael Ianno, Nicholas Gillhooley, Craig West, Kevin Walsh and Holden Barry of Walker & Dunlop Capital Markets secured the loan on behalf of the borrowers. “This refinancing represents another important milestone for the portfolio and highlights the collaborative approach among all parties involved,” says Eric Garrett, CEO of The Garrett Cos. “We continue to see strong operating performance across the assets and remain confident in the long-term fundamentals supporting these markets.” Headquartered in Norfolk, Va., Harbor Group International is a privately owned global real estate investment and management …

May 28, 2026

Acquisitions Arizona Industrial Western

Marcus & Millichap Arranges $2.8M Sale of Industrial Building in Phoenix

by Amy Works May 27, 2026

PHOENIX — Marcus & Millichap has brokered the $2.8 million sale of an industrial warehouse property near Phoenix Sky Harbor International Airport. Jonathan Schulman, Tivon Moffitt and Peter Bauman of Marcus & Millichap represented the seller, a California-based private investor, and procured the buyer, a Phoenix-based private investor, in the transaction. Located at 3711 E. Atlanta Ave. in Phoenix, the property features 13,400 square feet of industrial manufacturing space. Located at 3711 E. Atlanta Ave., the 13,400-square-foot building is utilized as a lens manufacturing site for the existing tenant that negotiated a new 10-year lease extension. The new owner plans to complete targeted capital improvements at the asset, which was built in 1994, to support the tenant’s long-term operations.

May 27, 2026

Acquisitions Arizona Industrial Western

Trumark Real Estate Management Buys Multi-Tenant Industrial Building in Peoria, Arizona for $20.7M

by Amy Works May 26, 2026

PEORIA, ARIZ. — Trumark Real Estate Management has acquired a multi-tenant industrial building, located at 8700 N. 91st Ave. in Peoria, from The Initial Development Co. for $20.7 million. Geoffrey Turbow of CBRE represented the buyer in the transaction. The asset was acquired as part of a 1031 exchange. Completed in 2024, the 75,549-square-foot, multi-tenant industrial property features grade-level doors to each bay, two shared loading docks and visibility and signage opportunities along Loop 101. At the time of sale, the property was fully occupied.

May 26, 2026

Acquisitions Arizona Office Western

Cushman & Wakefield | PICOR Brokers $3.3M Sale of Office Building in Tucson

by Amy Works May 26, 2026

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a 52,000-square-foot office building located located at 100-150 N. Tucson Blvd. in Tucson. Tucson Sam Hughes LLC acquired the asset from Eria LLC for $3.3 million. Richard Kleiner and Alexis Corona of Cushman & Wakefield | PICOR represented the seller, while Robert Davis of Tango Commercial Real Estate represented the buyer in the deal.

May 26, 2026

Arizona Data Centers Development Top Stories Western

Prime Data Centers Breaks Ground on Three Buildings at $3B Metro Phoenix Campus

by John Nelson May 26, 2026

AVONDALE, ARIZ. — Prime Data Centers, a Dallas-based developer and operator of hyperscale and purpose-built data centers, has broken ground on the first three facilities at PHX01, a five-building data center campus in Avondale. The 66.5-acre park sits roughly 19 miles west of Phoenix via I-10. Each data center at PHX01 will span 267,000 square feet and offer 48 megawatts (MW) of critical IT load capacity. The 1.3 million-square-foot campus will offer 240MW of total critical power upon completion. “Breaking ground on PHX01’s first three buildings is a defining moment for Prime’s partnership with Avondale and for the greater Phoenix region,” says Michael Wall, executive vice president of product delivery at Prime Data Centers. “This first phase represents the beginning of a long-term investment in Avondale, and the infrastructure we are putting in place today is built to scale alongside the demands of our customers for years to come.” An undisclosed hyperscale user has committed to leasing the first three buildings for which construction is underway at PHX01. Prime Data Centers is marketing Buildings 4 and 5 to single or multi-tenant hyperscale users. “This more than $3 billion investment by Prime with its customers investing an average 2X more represents a …

May 26, 2026

Acquisitions Arizona Development Retail Western

Legacy Purchases Development Site in Southern Arizona, Plans 45,000 SF Retail Center

by Amy Works May 22, 2026

MARICOPA, ARIZ. — Legacy Development Partners has purchased a development site in Maricopa for a planned, ground-up retail center. Construction on the property is expected to begin immediately. Dubbed Legacy on Porter, the 6.6-acre project will deliver more than 45,000 square feet of retail, restaurant and service-oriented space. Confirmed tenants include Goodwill, Chipotle Mexican Grill, Jersey Mike’s Subs, HTeaO, Orlie’s Taproom and Swig. Leasing negotiations for the remaining shop space and pad sites are ongoing.

May 22, 2026

Acquisitions Arizona Multifamily Western

Bascom Arizona Ventures Buys Multifamily Community in Tucson for $45.5M

by Amy Works May 22, 2026

TUCSON, ARIZ. — Bascom Arizona Ventures, a subsidiary of Irvine, Calif.-based The Bascom Group, has acquired Domain 3201, an apartment property in Tucson, from an undisclosed seller for $45.5 million, or $157,439 per unit, in an off-market transaction. Arizona-based Bryten Real Estate Partners will manage the asset. BrightSpire Capital Acquisitions provided acquisition financing, which was arranged by Brian Eisendrath, Cameron Chalfant, Ben Margolis and Jesse Zarouk of Institutional Property Advisors (IPA), a division of Marcus & Millichap. Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David of IPA advised the buyer and seller in the deal. Constructed in two phases in 1985 and 1990, Domain 3201 features 289 one-, two- and three-bedroom floor plans, three swimming pools, two spas, open green spaces, a fitness center, yoga studio, clubhouse, business center and two pickleball courts. The new ownership is planning a capital improvement program to refresh the clubhouse and leasing office spaces, enhance the pool, spa and fitness areas and upgrade residences.

May 22, 2026

Acquisitions Arizona Industrial Western

US Merchants Buys 453,960 SF Industrial Facility in Surprise, Arizona

by Amy Works May 21, 2026

SURPRISE, ARIZ. — US Merchants has purchased Building One at West Summit at Surprise from developer Mohr Capital for $63.9 million. Located at 13401 W. Sweetwater Ave., the 453,960-square-foot Building One features a clear height of 36 feet, LED lighting and a 2,951-square-foot speculative office suite. The fully air conditioned asset is served by 3,000 amps of expandable power, 60-foot speed bays, a 145-foot secured concrete truck court, 101 dock doors, four grade-level doors and the ability to park 368 cars and 144 trailers. Completed in third-quarter 2024, West Summit at Surprise features two industrial buildings offering a total of 704,472 square feet, with the 250,512-square-foot Building Two located at 12600 N. Summit Way. The project is located within Summit Business Park, along the BNSF Railroad. Anthony Lydon, John Lydon and Kelly Royle of JLL represented the seller, while Joey Sugar and John Grady of CBRE represented the buyer in transaction.

May 21, 2026

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