Sunday, June 28, 2026
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ArizonaRetailWestern

Rosenthal & Rosenthal Acquires Whole Foods Property in Flagstaff

by Nellie Day

FLAGSTAFF, ARIZ. — Rosenthal & Rosenthal has acquired a retail property in Flagstaff that is leased to Whole Foods for $11.6 million. The property is located at 320 S. Cambridge Lane within the Aspen Place at the Sawmill development. The space is situated near Northern Arizona University, at the corner of Butler Avenue and Lone Tree Road. Other notable tenants at Aspen Place at the Sawmill include REI, Chico’s, Eddie Bauer, Flagstaff Jean Company, Wildflower Bread Company and Pita Jungle. Rosenthal & Rosenthal purchased the property through its affiliate Broadway Tenth/Flagstaff LLC. The seller, Sawmill NF LLC, an affiliate of The Aspen Group, was represented by Ryan Schubert and Michael Hackett of Cassidy Turley’s Retail Capital Markets Group.

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ArizonaOfficeWestern

Flex Office Building in Phoenix Sells for $21.6M

by Nellie Day

PHOENIX – A subsidiary of Griffin Opportunities has acquired a 145,000-square-foot flex-office showroom development in the Phoenix submarket of Deer Valley for $21.6 million. The building is located at 2851 W. Kathleen Road. The 9.5-acre property was developed in 1988 and renovated in 2009. It is fully leased to building technologies company Climatec. The subsidiary was represented by Ben Prater of Colliers International. The seller, Intravest 2851 Kathleen LLC, was represented by Bob Lundstedt and Chris Rogers of Daum. This is Griffin Opportunities’ first investment in Deer Valley. It also represents the largest transaction in the Deer Valley submarket so far this year, according to Daum.

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ArizonaOfficeWestern

SheKnows Leases Space at Element at Kierland in Scottsdale

by Nellie Day

SCOTTSDALE, ARIZ. – SheKnows has leased 20,000 square feet at Element at Kierland, a 55,268-square-foot office building in Scottsdale. The space is located at 14614 N. Kierland Blvd. The women’s lifestyle media platform will use this space as its corporate headquarters. SheKnows was represented by Clint Hardison of Keyser. The landlord, Montana Avenue Capital Partners, was represented by Luke Walker, Dave Carder and Eric Schultz of CBRE’s Phoenix office.

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ArizonaOffice

Regional Acceptance Corp. Leases Space at Papago Technology Center in Tempe

by Nellie Day

TEMPE, ARIZ. – Regional Acceptance Corp. has leased 40,000 square feet of space at Papago Technology Center in Tempe. The space is located at 1700 N. Desert Drive. Regional Acceptance is a division of BB&T Bank. It is a national auto finance company. Regional Acceptance was represented by JLL’s Jason Moore and Keith Lammersen. The landlord, WDP Partners, was represented by CBRE’s Bryan Taute.

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Avenue 25
ArizonaLoansWestern

Capital One Multifamily Finance Provides $24.8M Loan for Avenue 25 Apartments in Phoenix

by John Nelson

PHOENIX — Avenue 25 Apartments has received a $24.8 million bridge loan from Capital One Multifamily Finance (formerly Beech Street Capital). The 254-unit community is located at 18250 North 25th Ave. in Phoenix. Drew Anderman and Alan Blank of Meridian Capital Group negotiated the three-year balance sheet bridge loan on behalf of the borrower, TruAmerica Multifamily. The loan features a fixed, LIBOR-based interest rate, two one-year extensions and one year of interest-only payments.

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freeport-industrial
ArizonaIndustrialWestern

Elontec Leases Space at Freeport Industrial Center in Phoenix

by Jaime Lackey

PHOENIX — Elontec has leased 28,231 square feet of space at Freeport Industrial Center in Phoenix. The center is located at 5502 W. Buckeye Ave. The female-owned office furniture, relocation and cabling company will be consolidating and relocating from nearby 5402 W. Roosevelt Street. The new lease brings the 103,400-square-foot center to full occupancy. Elontec was represented by Ted Liles of Cresa. The landlord, Environmental Development, was represented by Justin LeMaster, Mike Gilbert and Paul Sweetland of Cushman & Wakefield’s industrial division.

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ArizonaRestaurantRetailWestern

Popeyes Louisiana Kitchen to Open New Tempe Location

by Jaime Lackey

TEMPE, ARIZ. — Popeyes Louisiana Kitchen will open a new 23,000-square-foot location at Elliot Plaza in Tempe. The new space will be located at the southwest corner of Elliot Road and Priest Drive. Popeyes’ second Tempe location is scheduled to open by the end of this year. The chain was represented by Velocity Retail Group. The landlord, TPP JV Maricopa LLC, was represented by Cliff Johnston, John Appelbe, Brad Douglass and Chris Hollenbeck of Cassidy Turley. Popeyes was founded in New Orleans in 1972. It is the world’s second largest quick-service chicken concept.

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waypoint-mesa-arizona
ArizonaOfficeWestern

American Traffic Solutions Leases Space at Waypoint Office Campus in Mesa

by Jaime Lackey

MESA, ARIZ. — American Traffic Solutions has leased Building One at Waypoint office campus in Mesa. The building is located near Phoenix Sky Harbor International Airport and Mesa Riverview, on the borders of Mesa, Scottsdale and Tempe. Waypoint office campus will be a two-building, Class A office campus. The second 150,000-square-foot building will soon be under construction. The landlords, Lincoln Property Company and Harvard Investments, are represented by CBRE’s Dave Carder, Luke Walker and Eric Schultz.

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