PHOENIX — Scottsdale, Ariz.-based ATLAS Capital Partners has completed the disposition of an infill parcel to the City of Phoenix for $29.6 million. The city has earmarked the land for revitalization as part of its regional Rio Reimagined initiative and the RIO PHX plan, which will promote 20 miles along the Rio Salado/Salt River corridor as a local and regional destination. Located at 3030 S. 7th St., the 29.4-acre site is currently occupied by a 42,469-square-foot industrial building with tenancy through 2028. The site is situated within an Opportunity Zone, less than two miles from Sky Harbor International Airport, minutes from downtown Phoenix and interstates 10 and 17. ATLAS partnered with OakPoint Real Estate, a vertically integrated real estate investment firm, on the transaction. Will Strong, Phil Haenel and Foster Bundy of Cushman & Wakefield’s Capital Markets Group represented ATLAS in the deal.
GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Monte Vista, an apartment community in Glendale. A workforce and affordable housing fund acquired the asset from a private seller for $25.5 million, or $122,596 per unit. Built in 1985, Monte Vista features 208 apartments, a swimming pool, laundry facility and covered parking. Apartments offer washer/dryer connections, dishwashers and walk-in closets. The average unit size is 787 square feet. Cliff David and Steve Gebing of IPA, along with Darrell Moffitt of Marcus & Millichap, represented the seller and procured the buyer in the transaction.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a medical investment property located at 4881 E. Grant Road in Tucson. Elliott Bay Medical Properties Holdings LLC acquired the asset from a private investment group for $5.5 million. Pain Institute of Southern Arizona occupies the 15,000-square-foot property on a long-term lease. Bryce Horner of Cushman & Wakefield | PICOR represented the seller in the deal.
GLENDALE, ARIZ. — Diversified Partners has broken ground on Shops at the Cardinal, a 25,000-square-foot shopping center located in Glendale, approximately nine miles northwest of Phoenix. Situated near State Farm Stadium, the $20 million project will span 9 acres and feature a mix of retail and restaurant concepts, as well as multiple drive-thru options and outdoor seating. Confirmed tenants at the property — which is nearing full lease-up — include Swig; Señor Taco; Nautical Bowls; Starbucks Coffee; Bonchon; Pacific Dental Services; La Botana; Jeremiah’s Italian Ice; a Mexican sushi concept; a nail salon and spa; and McDonald’s, who will occupy its own building. Additionally, 1,200 square feet is still available for lease. Further tenant build-outs will begin later this year, with openings anticipated for early 2026. The Renaissance Cos. is serving as the general contractor, while RKAA Architects is designing the center.
PHOENIX — Phoenix-based Christiansen Ventures LLC has purchased Broadstone Uptown PHX, an apartment community in Phoenix, from Scottsdale, Ariz.-based Alliance Residential Co. for $87 million. Austin Groen, Matt Pesch, Asher Gunter and Sean Cunningham of CBRE represented the seller in the deal. Troy Tegeler and CJ Connolly of CBRE’s Debt & Structured Finance team arranged financing for the buyer. Completed by Alliance Residential in 2024, Broadstone Uptown PHX offers 280 apartments with nine-foot ceilings, quartz countertops in the kitchen and baths, wood-style flooring, full-size washers/dryers, stainless steel kitchen appliances, five-burner gas cooktops and keyless entry. Community amenities include a swimming pool and spa area with private cabanas and a pool house featuring a community kitchen and billiards table; a resident clubhouse with a cafe with lounge seating, a complimentary coffee bar and a leasing office; and a 24-hour fitness center with weight training and cardio machines. Additional amenities include an outdoor ramada with 360-degree mister, ping-pong, fire pits, yard games, barbecue grills, a dog park, electric charging stations and parcel package lockers.
SCOTTSDALE, ARIZ. — Leon Capital Group subsidiary Leon Multifamily has completed the disposition of Soltra Kierland, an apartment property in North Scottsdale, to a private investor for $107.5 million. Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen of CBRE represented the seller in the transaction, which represents the highest price per unit for a multifamily sale in metro Phoenix since 2022. Completed in 2024, Soltra Kierland offers 202 apartments with wood-style flooring, custom built-ins, full-size washers and dryers, walk-in closets, custom cabinetry, walk-in rain showers, stainless steel appliances, eat-in kitchen islands and quartz countertops. Select units offer quartz waterfall island countertops, black stainless steel appliances, gas stoves, an under-counter wine fridge, soaking tubs and floor-to-ceiling bifold patio doors. Community amenities include a pool, spa, sunning decks, fire features, barbecue grills, a corn hole grotto and an entertainment deck, as well as a resident clubhouse with two-story floor-to-ceiling windows and a retro-style speakeasy with beer taps. The property also features a two-story fitness center with cardio and weight training equipment and a yoga terrace; a Soltra cafe Wi-Fi lounge; an off-leash dog park; a climate-controlled dog lounge and pet spa; and electric vehicle charging stations.
CHANDLER, ARIZ., TEMECULA, CALIF., AND HUNTSVILLE, ALA. — Choice Hotels International has opened Everhome Suites properties in Chandler, Temecula and Huntsville. Choice Hotels now maintains 10 Everhome Suites across the country and is on track to have 25 hotels open by year’s end with 20 currently under construction. The new hotels include:– The 114-room Everhome Suites Chandler at 3200 W. Willis Road. The project team included ServiceStar Capital Management and Genesis Cos. as developers, 101 Architecture as architect and PATH Construction as general contractor.– The 117-room Everhome Suite Temecula at 27165 Madison Ave. The hotel was developed and is owned by Paladin Equity Capital. The project team included Woolpert Architects and Buffalo Construction.– The 98-room Everhome Suites Huntsville at 5581 Holmes Ave. The project team included EHS Huntsville LLC as developer, Woolpert as architect and Integrated Construction as contractor. Each Everyhome Suites offers a variety of amenities, including:– Fully equipped kitchens with full-sized refrigerators, dishwashers, stovetops, microwaves, flatware, cookware and counter space– Spa-like bathrooms with high-quality fixtures– Large closets and additional open and closed storage– Weekly housekeeping– Free WiFi– Pet-friendly options– Contemporary multipurpose lobbies– Communal outdoor amenity areas with barbecue grills, fire pits and green spaces; pools at select locations– 24/7 …
TUCSON AND GREEN VALLEY, ARIZ. — Northwest Healthcare Properties has completed the sale of a medical office building portfolio in Tucson and Green Valley to MLL Capital for $6.1 million. The portfolio consists of Riverstone Medical Plaza and Green Valley Medical Plaza. Travis Ives, Gino Lollio and Tyler Morss of Cushman & Wakefield’s U.S. Healthcare Capital Markets team represented the seller in the deal. Additionally, Tom Neiman and Bryce Horner of Cushman & Wakefield | PICOR provided local advisory services for the transaction. Built in 1998 and renovated in 2018, Riverstone Medical Plaza offers 18,976 square feet of single-tenant medical office space. Tucson Physician Group Holdings LLC fully occupies the building, which is located at 4892 N. Stone Ave. Located at 1055 La Canada Drive in Green Valley, Green Valley Medical Plaza offers 23,746 square feet of multi-tenant medical office space. Originally built in 1992, the building was 98 percent leased to several small healthcare users at the time of sale.
TEMPE, ARIZ. — ViaWest Group has sold Sight Logistics Park, a two-building industrial property in Tempe. Terms of the transaction were not released. Completed in 2023, Sight Logistics Park consists of the 155,916-square-foot Building 1 at 6840 S. Harl Ave. and the 201,187-square-foot Building 2 at 6860 S. Harl Ave. The buildings feature 32-foot clear heights, 100 percent HVAC coverage, 66 dock-high doors, a 200-foot truck court, 10 grade-level doors and 8,400 amps of power. At the time of sale, the park was 88 percent occupied by a variety of tenants, including nVent, Daikin, Rentex and Supply Chain Solutions. Ben Geelan, Greer Oliver and Connor Nebeker-Hay of JLL Capital Markets Investment Sales handled the transaction. Rob Martensen, Phil Breidenbach and Sam Jones of Colliers handled local leasing efforts for the property.
MESA, ARIZ. — CBRE has negotiated the sale of Bella Encanta, a build-to-rent (BTR) community in Mesa. Bela Flor Communities sold the asset to a global institutional investor for $95.7 million. Griffen Tymins, Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the Mesa-based seller in the deal. Completed in 2023, the 212-unit property features duplex-style homes with wood-style plank flooring, nine- and 10-foot ceilings, full-size washers/dryers, granite countertops, undermount sinks, eat-in islands, stainless steel appliances, gas cooktops, Shaker-style cabinetry and subway tile backsplashes, as well as a private two-car attached garage with electric vehicle charging capabilities. Community amenities include a resident clubhouse with a fitness center with climbing wall, demonstration kitchen, billiards table, leasing office, conference room, meeting space and seating areas. Outdoor amenities include soccer fields, two pet parks with a wash station, a sand volleyball court, a basketball half-court, two pickleball courts, a children’s playground, walking paths and multiple picnic areas with barbecue grills.