Arizona Archives - REBusinessOnline

Newmark Brokers $32.2M Sale of Thirty 03 Office Tower in Midtown Phoenix

Amy Works — Fri, 06 Feb 2026 15:07:46 +0000

PHOENIX — Newmark has brokered the sale of Thirty 03, a Class A office building located at 3003 N. Central Ave. in Phoenix. A Canada-based private buyer acquired the 26-story tower from Vancouver, Canada-based Balfour Pacific for $32.2 million. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark represented the seller in the deal. Offering 458,047 square feet of office space, Thirty 03 has undergone nearly $11 million in transformative capital improvements. Implemented in 2019, the plan included extensive lobby upgrades, full elevator modernization and speculative suites. At the time of sale, the building was 81 percent leased to a diverse mix of tenants spanning legal, healthcare, architectural, banking, government and professional services sectors.

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Knighthead Funding Arranges $11M Refinancing for Apartment Community in Tempe, Arizona

Amy Works — Thu, 05 Feb 2026 14:10:01 +0000

TEMPE, ARIZ. — Knighthead Funding has arranged an $11 million refinancing loan for The Heights on Lemon, a multifamily property in Tempe. The loan will refinance the existing facility and provide financial flexibility to the borrower, 1224 Lemon LLC, and its sponsor, Robert La France. With more than 11 years of multi-state real estate investor experience, La France acquired The Heights on Lemon in 2021. Built in 1976 and fully renovated in 2021, The Heights on Lemon features 65 apartments spread across four buildings. The property was 98 leased at the time of financing. The asset offers 84 parking spaces, a community pool and in-unit washers/dryers. Reuben Hedaya and Noah Schulman of Pivot Real Estate represented the borrower.

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PGIM Sells Two-Property Seniors Housing Portfolio in Metro Phoenix

Amy Works — Tue, 03 Feb 2026 14:56:48 +0000

GILBERT AND MESA, ARIZ. — PGIM has arranged the sale of a two-property seniors housing portfolio in metro Phoenix. The portfolio includes The Watermark at Morrison Ranch in Gilbert and Acoya Mesa, which is jointly owned by the original developer Ryan Cos. US, in Mesa. JLL Capital Markets represented the seller in the deal. Additionally, JLL worked on behalf of the undisclosed buyer to secure a 10-year acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, a Freddie Mac Optigo Lender for seniors housing loans. Built in 2019, The Watermark at Morrison Ranch features a two-story building with 115 units of assisted living and memory care units. The property offers Class A amenities including three distinctive dining venues, a fitness center, technology center, library and full-service salon. The asset is situated on 4.6 acres at 3333 E. Morrison Ranch Parkway. Developed and built by Ryan Cos. in 2019, Acoya Mesa consists of a three-story building offering 51 units of independent living, 91 units of assisted living and 28 units of memory care. Common areas feature a café/bistro/pub, restaurant-style dining, a movie theater, salon, game room, activities room and library. Acoya Mesa is situated on 7.9…

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IPA Brokers Sale, Arranges Financing for 335-Unit Multifamily Property in Chandler, Arizona

Amy Works — Fri, 30 Jan 2026 14:54:10 +0000

CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Avant at Fashion Center, an apartment community in Chandler. Steve Gebing and Cliff David of IPA represented the undisclosed seller and procured the undisclosed buyer. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged the financing. Built in 2017 on more than 11 acres, Avant at Fashion Center features 335 apartments with nine- and 10-foot ceilings, breakfast bars or kitchen islands and full-size washers/dryers. Select floorpans have wine refrigerators and wireless sound systems. Community amenities include a swimming pool and spa surrounded by a glass enclosure and a courtyard with grilling stations, café seating, hammocks and a game area.

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Investors Capital Group Acquires Vertical East Apartments in Tucson for $22M

Amy Works — Tue, 27 Jan 2026 14:12:34 +0000

TUCSON, ARIZ. — Vertical Street Ventures has sold Vertical East Apartments in Tucson to Seattle-based Investors Capital Group for $22 million. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller. The property was developed in 2001 and is comprised of two- and three-bedroom floor plans. Community-wide amenities include a pool and hot tub, a picnic area and a dog park.

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EQT Real Estate Buys 663,367 SF Industrial Facility in Glendale, Arizona

Amy Works — Mon, 26 Jan 2026 14:27:48 +0000

GLENDALE, ARIZ. — EQT Real Estate has acquired Commerce @ 303, a Class A industrial property and adjacent entitled, shovel-ready 32.6-acre development site at 5215 N. Alsup Road in Glendale, from New York Life Real Estate Investors and SteelWave for an undisclosed price. Developed by SteelWave, Commerce @ 303 features a 663,367-square-foot, cross-dock industrial facility. Built in 2022, the facility is currently fully leased to two third-party logistics providers. The adjacent parcel is a shovel-ready site, allowing for the development of a 497,2354-square-foot industrial facility, enabling the construction of a nearly 1.2 million-square-foot industrial campus. EQT plans to begin construction on a speculative building on the development site with an estimated delivery date of fourth-quarter 2026. Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren of Cushman & Wakefield handled the transaction.

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Vestar Completes $100M Vineyard Towne Center Retail Development in Queen Creek, Arizona

Abby Cox — Fri, 23 Jan 2026 12:45:00 +0000

QUEEN CREEK, ARIZ. — Vestar, a privately held shopping center developer and manager based in Phoenix, has announced the completion of Vineyard Towne Center, a 260,000-square-foot retail development located in Queen Creek, approximately 45 miles southeast of Phoenix. Following the 2021 groundbreaking, the $100 million development is now fully leased. “This center has seen incredible leasing momentum, and the strong response from both tenants and residents underscores the demand for high-quality destinations that blend convenience, variety and an elevated sense of place,” says Jeffrey Axtell, executive vice president of development at Vestar. Situated at the corner of Gantzel and Combs roads, Vineyard Towne Center is anchored by a 145,000-square-foot Target, which opened in October 2025. The tenant roster also includes Sprouts Farmers Market, Mountain America Credit Union, Academy Bank, LifeQuest, Cadence Running Company, Mattress Firm, Zara Nail Bar, Dentists of Queen Creek, Keep It Cut, European Wax Center, Crown One Beauty Supply, Five Guys, Better Buzz Coffee, Thai Chili 2Go, McDonald’s, Over Easy, Café Rio, Cinnaholic, Zaxby’s, Nekter Juice Bar, Mr. Pickle’s Sandwich Shop, Wingstop and Ono Hawaiian BBQ. Additional retailers, such as Verizon Wireless and My Dr. Now, have recently opened at the open-air center, with Pet Supplies Plus slated to…

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Gantry Secures $16.5M Refinancing for Two Industrial Facilities in Metro Phoenix

Amy Works — Wed, 21 Jan 2026 14:38:38 +0000

PHOENIX — Gantry has secured two permanent loans, totaling $16.5 million, for one borrower to refinance maturing debt on a pair of industrial properties in metro Phoenix. The first property is a 79,000-square-foot modern industrial building with a fenced truck court located in the Southwest Valley submarket of Phoenix, and the second asset is a 113,000-square-foot modern warehouse property with two buildings in Phoenix’s Northwest Valley submarket. Both facilities were fully leased to long-term tenants at the time of sale. Tim Storey, Chad Metzger and Andrew Christopherson of Gantry represented the borrower, a private real estate investor. Both loans were secured from one of Gantry’s correspondent life company lenders and feature full-term, interest-only payments at a fixed rate. Gantry will service both loans on behalf of its correspondent lender.

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Hanley Investment Real Estate Advisors Arranges $23M Sale of Mountain Ranch Marketplace in Goodyear, Arizona

Amy Works — Tue, 20 Jan 2026 13:55:04 +0000

GOODYEAR, ARIZ. — Hanley Investment Real Estate Advisors has arranged the $23 million sale of Mountain Ranch Marketplace, a 49,683-square-foot shopping center located in Goodyear, approximately 19 miles west of Phoenix. Originally built in 2009 on 12.4 acres, Mountain Ranch Marketplace was 94.6 percent occupied at the time of sale to tenants such as AutoZone, Starbucks, Papa John’s Pizza, Subway, Leslie’s Pool Supplies, Verizon, Edward Jones, North Star Animal Hospital, Oasis Bagels, T&T Martial Arts Academy and Great Clips. Tenants not included in the sale are Safeway, McDonald’s, Taco Bell, Walgreens and Chase Bank. Bill Asher, Jeremy McChesney and Lee Csenar of Hanley represented the buyer, Bershon Realty Co., in the transaction. Ryan Schubert, Michael Hackett and Zach Aulick of CBRE represented the seller and developer, Kitchell Development Co.

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Tucson Newcrest Buys 62,750 SF Retail Space at Eastpoint Marketplace in Tucson, Arizona

Amy Works — Tue, 20 Jan 2026 13:51:51 +0000

TUCSON, ARIZ. — Tucson Newcrest has acquired 62,750 square feet of retail space at Eastpoint Marketplace, located at 6964-6970 E. 22nd St. in Tucson. Eastpoint Kolb Additional Investors LLC, JRSL LLC, Union Financial Management Services and JDW CAT 10 sold the asset for $12.8 million. Rob Tomlinson of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.

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Cushman & Wakefield Arranges $3.2M Sale of Dollar Tree-Occupied Retail Property in Glendale, Arizona

Amy Works — Mon, 19 Jan 2026 15:26:48 +0000

GLENDALE, ARIZ. — Cushman & Wakefield has brokered the sale of a single-tenant retail property located at 6773 W. Bell Road in Glendale. WM Grace Cos. sold the asset to Teakwood Norman LLC for $3.2 million. Dollar Tree occupies the 12,064-square-foot property, which was built in 2002, under a net-lease structure. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller in the transaction.

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Bascom Group Acquires Value-Add Multifamily Community in Tucson for $53.4M

Amy Works — Thu, 15 Jan 2026 14:21:54 +0000

TUCSON, ARIZ. — Bascom Arizona Ventures, an affiliate of Irvine, Calif.-based The Bascom Group, has acquired The Retreat at Speedway in Tucson for $53.4 million via a value-add investment fund. The seller was Wiedner Apartment Homes. Institutional Property Advisors, a division of Marcus & Millichap, arranged the deal on behalf of Wiedner, as well as a loan from BrightSpire Capital Acquisitions LLC. Arizona-based property manager Bryten Real Estate Partners will manage the property. Built in 2001, the two-story Retreat at Speedway is comprised of one- and two-bedroom floor plans and amenities such as a pool, hot tub, fitness center and a clubhouse. Bascom is planning to renovate the amenity spaces and units.

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Hammes, NOVO Begin Development of 34,000 SF Medical Office Building in Scottsdale, Arizona

Amy Works — Wed, 14 Jan 2026 14:28:19 +0000

SCOTTSDALE, ARIZ. — A partnership between Hammes and Phoenix-based NOVO Development has broken ground for construction of a 34,000-square-foot medical office building in Scottsdale. The property will serve as an anchor component of the new 43-acre Sierra Bloom mixed-use wellness campus. The building’s anchor tenant will be Arizona Sports Medicine Center (ASMC), which is part of Abrazo Medical Group, a division of Abrazo Health. Occupying a majority of the new space, ASMC will offer sports medicine, imaging and other advanced medical services designed to meet the growing healthcare needs of the Scottsdale community. The medical office building is slated for completion in third-quarter 2026, with a topping out ceremony scheduled for late March.

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PCCP Provides $84M Refinancing for 335-Unit Multifamily Property in Phoenix

Amy Works — Wed, 07 Jan 2026 15:57:53 +0000

PHOENIX — PCCP has provided an $84 million senior loan to Los Angeles-based Pacific Development Partners for the refinancing of Montreux, a 335-unit multifamily community in Phoenix. The three-building property was developed in 2019 and is approximately 89 percent leased. James Bach of CBRE arranged the financing. Montreux’s units are offered in one-, two- and three-bedroom floor plans. Amenities include two pools, a fitness center, a rooftop clubhouse, pickleball and tennis courts, a game room with a multi-sport simulator and parking.

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JLL Brokers Sale of 345-Unit Thunderbird Senior Living Community in Glendale, Arizona

Amy Works — Tue, 06 Jan 2026 14:03:22 +0000

GLENDALE, ARIZ. — JLL Capital Markets has arranged the sale of Thunderbird Senior Living, a seniors housing community in Glendale. Terms of the transaction were not disclosed. JLL’s Seniors Housing Capital Markets team represented the undisclosed seller and procured the undisclosed buyer in the deal. Most recently renovated in 2018, Thunderbird Senior Living consists of 13 interconnected three-story buildings offering 285 independent living, 40 assisted living and 20 memory care units. All residences include a dedicated kitchen, private bathrooms and bedrooms. Community amenities include an art room, beauty salon/barber shop, bistro, game room, heated outdoor pool, library, living room/lounges, nature trails, sun decks and a theater. Stellar Senior Living will continue to operate the property, which is situated on 7.8 acres at 5401 W. Dailey St.

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Westfield Co., RGA ReCap Sell Fairway Commerce Center in Avondale, Arizona for $89.8M

Amy Works — Mon, 05 Jan 2026 14:56:59 +0000

AVONDALE, ARIZ. — Westfield Co. and RGA ReCap Inc., on behalf of RGA, have completed the sale of Fairway Commerce Center, a distribution facility located at 12250 W. Corporate Drive in Avondale. The United States Postal Service occupies the 450,260-square-foot property, which is situated on 26 acres, on a 10-year, triple-net lease. Completed in 2024, the cross-dock facility features a clear height of 40 feet, 13,800 amps of power, complete climate control, 83 dock-high loading positions and secured truck courts. Ben Geelan, Greer Oliver, Bryce Beecher and Gigi Martin of JLL Capital Markets represented the seller in the transaction.

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Rocket Lister Purchases Office Building in Tempe, Arizona for $5.7M

Amy Works — Fri, 19 Dec 2025 14:11:19 +0000

TEMPE, ARIZ. — Home photographer Rocket Lister has acquired a two-story office building, located at 4625 S. Wendler Drive in Tempe, from Batch Leads for $5.7 million. Rocket Lister will use a portion of the 46,804-square-foot building for its headquarters and lease the remaining space. Kurt Kerner and Connor Maloney of Kidder Matthews represented Rocket Lister in the transaction and will manage leasing of the property.

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Time Equities Acquires Cactus Plaza Retail Property in Glendale, Arizona for $4.5M

Amy Works — Fri, 19 Dec 2025 14:09:47 +0000

GLENDALE, ARIZ. — New York City-based Time Equities Inc. (TEI) has acquired Cactus Plaza, a 25,620-square-foot neighborhood shopping center in Glendale, roughly nine miles northwest of downtown Phoenix near the Arizona State University West Valley campus. Built in 1985, the center was 93 percent leased to a mix of restaurant, beauty and service-oriented tenants at the time of sale. Cactus Plaza marks the second retail property that TEI has acquired in the state. Ami Ziff, Jonathan Kim and Grant Scott internally represented TEI in the transaction. Chase Dorsett of Newmark represented the seller.

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Mark IV Capital Sells Paradiso Medical Office Building in Scottsdale, Arizona for $13.3M

Amy Works — Tue, 16 Dec 2025 14:29:41 +0000

SCOTTSDALE, ARIZ. — Mark IV Capital Properties has completed the sale of Paradiso, a two-story, multi-tenant medical office building in Scottsdale. Albany Road Real Estate Partners acquired the property for $13.3 million. The 59,445-square-foot asset features a large central courtyard with decorative fountains and seating areas, private entrances and balconies, covered breezeways, patios off several ground-floor suites and full-length storefront windows. The property is located at 11000 N. Scottsdale Road. Eric Wichterman, Alexandra Loye, Chris Toci and Mike Coover of Cushman & Wakefield represented the seller in the transaction.

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Campus Invesco Buys Wildcat Canyon Village Student Housing Property in Tucson for $8M

Amy Works — Fri, 12 Dec 2025 14:30:00 +0000

TUCSON, ARIZ. — Campus Invesco has acquired Wildcat Canyon Village, a student housing community located at 1050 E. 8th St. in Tucson, from Federal Home Loan Mortgage Corp. (Freddie Mac) for $8 million. Originally built in 1968, Wildcat Canyon Village features 76 units, totaling 128 beds. The property includes a value-add component offering the potential to expand to 164 beds through strategic unit conversions. Onsite amenities include a swimming pool, basketball court, picnic area with barbecue grills and a coffee bar. Additionally, the community features controlled access, package lockers, a laundry facility and free resident parking. Steven Nicoluzakis and David Fogler of Cushman & Wakefield represented the seller in the deal.

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