SCOTTSDALE, ARIZ. — Bell Bank has purchased a 37,495-square-foot office building at 14631 N. Scottsdale Road in Scottsdale. A private seller sold the asset for $10.3 million. Situated on 112,000 square feet of land, the property is currently 84.5 percent leased. Bell Bank intends to occupy the building and expand its footprint over time as space becomes available. Geoffrey Turbow of CBRE, in collaboration with Shay Bolton and Kirill Azovtsev of Savills, represented the seller in the deal.
GLENDALE, ARIZ. — JLL Capital Markets has arranged the sale of Inspira Arrowhead, a seniors housing property in Glendale. A fund managed by affiliates of Fortress Investment Group sold the asset to a confidential buyer for an undisclosed price. JLL’s Senior Housing Capital Markets team represented the seller and procured the buyer in the deal. The firm also arranged nonrecourse acquisition financing for the buyer through a regional bank. Cogir Senior Living has been retained by the buyer to continue operations at the property. Situated on 14.2 acres at 20240 N. 78th Ave., Inspira Arrowhead features 165 independent living, assisted living and memory care units. Onsite amenities include various dining options, a theater, fitness center, pool, salon, barbershop, dog park, social outings and bocce ball.
SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Scottsdale Airpark Corporate Center, a two-building flex office and industrial property in Scottsdale. CEJ Scottsdale Airpark Corporate Center LLC sold the asset to SACC LLC for $13 million. Located at 15020 and 15030 N. Hayden Road, Scottsdale Airpark Corporate Center features 58,438 square feet of space that is occupied by Pillar Church, Copycats Printing and Vogel Prep. The property was built in 1985. Michael Kitlica, Tracy Cartledge and Robert Buckley of Cushman & Wakefield brokered the sale.
PHOENIX — A joint venture between Harrison Street Asset Management, LCS and Ryan Cos. US Inc. has received refinancing for Clarendale Arcadia, a senior living community located in the Arcadia neighborhood of Phoenix. Ryan Stoll and Taylor Mokris of BWE arranged the financing — which features full-term interest-only payments, an initial 36-month term and two one-year extension options — on behalf of the joint venture. Completed in 2023, Clarendale Arcadia totals 248 residences, with 240 independent living units, 68 assisted living units and 40 memory care units. Amenities at the property include a bistro, fitness center, heated swimming pool, jacuzzi spa, putting greens, a movie theater, salon and spa, landscaped outdoor spaces and a full-service bar.
SCOTTSDALE, ARIZ. — Creation, with development partner PGIM Real Estate, has broken ground on The Loop, an industrial campus in Scottsdale. Situated along Loop 101, The Loop will offer 267,000 square feet of Class A industrial space spread across four buildings ranging from 54,000 square feet to 101,000 square feet. Designed and built by LGE Design Build, the campus will feature footprints for light manufacturing, skilled assembly, industrial showrooms and distribution. Situated on 16.4 acres at Loop 101 and East Princess Drive, the development is slated for completion in late 2026. Pat Harlan and Steve Larsen of JLL are marketing the buildings for lease or sale.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Glenn East, a multifamily complex at 2333 E. Glenn St. and 2315 E. Glenn St. in Tucson. J and J Glenn East SFR LLC and J and J Glenn East LLC purchased the asset from LO PLA LLC and Glenn East LLC for $4.4 million. The 30,820-square-foot property features 47 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR handled the transaction.
GILBERT, ARIZ. — Kidder Mathews has arranged the $13 million sale of Lindsay Square, a 46,728-square-foot neighborhood shopping center located in Gilbert, a suburb of Phoenix. Tenants at the property include a mix of service-oriented retailers such as a daycare, fitness center, veterinary clinic, dry cleaner and specialty schools, as well as various restaurants. Jenette Bennett and Michelle Gardner of Kidder Mathews represented the buyer, a Washington-based family investment firm.
PHOENIX — A partnership between Dorn Properties and Far Western Properties has completed the disposition of Parkway Apartments in Phoenix to Parkway Apartments LLC for $4.5 million, or $125,000 per unit. Located at 5407 W. Glenrosa Ave., Parkway Apartments offers 35 two-bedroom/two-bath units and a one-bedroom/one-bath unit. All apartments are individually metered for electricity and feature large private front patios. The community was built in 1963. Brian Smuckler and Derek Smigiel of JLL represented the seller in the deal.
SCOTTSDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale and financing of Scottsdale on Main, a midrise apartment asset in Scottsdale. Baron Properties sold the asset to Goodman Real Estate for $66.1 million, or $555,462 per unit. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Completed in 2024, Scottsdale on Main offers 119 apartments, air-conditioned interior corridors, two elevators and a designer-appointed leasing office with floor-to-ceiling windows. Community amenities include a resort-inspired swimming pool and a rooftop deck with a covered outdoor kitchen and lounge. Apartments offer 10-foot to 12-foot ceilings, wine refrigerators, oversized pantries and walk-in showers.
GLENDALE, ARIZ. — Creation, in partnership with QuarterMoore, has broken ground on Harbor Park, a two-building industrial complex on 9.7 acres in Glendale. Located on Glen Harbor Boulevard within the Glen Harbor industrial submarket, Harbor Park will feature two single-story industrial buildings totaling 163,364 square feet. Completion is slated for third-quarter 2026. One building is being constructed as a 108,865-square-foot build-to-suit for PODS Phoenix, a local franchise division of PODS Moving & Storage. The second building will offer 54,499 square feet of speculative industrial space with a clear height of 24 feet, 25 dock-high doors, four grade-level doors and 106 parking spaces. The asset is already 67 percent leased to PODS Phoenix, with the second building available for lease or purchase. LGE Design Build is spearheading the construction and design of Harbor Park. Anthony Lydon, John Lydon, Kelly Royle and Hagen Hyatt of JLL are handling leasing efforts for the property.
