Arizona

Clarendale-Arcadia-Phoenix-AZ

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.

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The-Loop-Scottsdale-AZ

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.

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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.

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Lindsay-Square-Gilbert-AZ

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.

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5407-W-Glenrosa-Ave-Phoenix-AZ

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.

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Scottsdale-on-Main-Scottsdale-AZ

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.

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Harbor-Park-Glendale-AZ

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.

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1746-1748-W-Fillmore-St-Phoenix-AZ

PHOENIX — Stos Partners has purchased an infill industrial warehouse, located at 1746-1748 W. Fillmore St. in Phoenix, from a private seller for $2.9 million. The 20,850-square-foot property features 20-foot clear heights, secured yard space and flexible layouts suitable for one or two tenants. Additionally, the asset offers dual options, with two grade-level and two dock-high doors. Stos Partners plans to implement a capital improvements program that includes roof repairs, parking lot resurfacing, HVAC system upgrades, drought-tolerant landscaping, approximately 2,000 square feet of new speculative office space and comprehensive exterior and interior modernizations, including interior and exterior paint and lighting upgrades. Chris Reese of Colliers represented Stos Partners, while Jim Wilson and Garrett Wilson of Cushman & Wakefield represented the seller in the off-market transaction.

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West-101-Logistics-Center-Phoenix-AZ

PHOENIX — Trammell Crow Co. (TCC) has broken ground on West 101 Logistics Center, a 1.1 million-square-foot industrial development in Phoenix. The five-building speculative project is slated for completion by summer 2026. Located at the southeast corner of Arizona State Route 101 and East Indian School Road, West 101 Logistics Center will include: All five buildings will include abundant auto parking and power, speculative office space, LED lighting, oversized end-cap grade-level doors, full HVAC implementation and freeway-fronting signage opportunities. Building 3 will feature a clear height of 36 feet, while the others will include a clear height of 32 feet. La Caisse (formerly CDPQ) is providing project debt. CBRE will lead marketing and leasing efforts for the entire development.

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1609-W-Glendale-Rd-Phoenix-AZ

PHOENIX — Chicago-based multifamily investment firm 29th Street Capital has acquired Urban 148 in Phoenix. The 148-unit property will be rebranded as Agave Ridge Apartments, and 29th Street Living will handle property management. According to Apartments.com, the community offers two- and three-bedroom floor plans at monthly asking rents ranging from $1,425 to $1,655 and amenities such as a pool, playground, courtyard and dog park. The seller and sales price were not disclosed.

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