Arizona

Brinkmann Constructors Completes 150,000 SF Office, Manufacturing Facility for Super Radiator Coils in Mesa, Arizona

by Amy Works June 12, 2025

MESA, ARIZ. — Brinkmann Constructors has completed a build-to-suit office and manufacturing facility in Mesa for Super Radiator Coils. Founded in 1928, the family-owned engineering and manufacturing company specializes in industrial heat exchangers and ancillary products used in a variety of applications, including power generation, gas compression, HVAC, industrial refrigeration, data center and electronics cooling, wind tunnels and semiconductor manufacturing. Designed by Ware Malcomb, the 150,000-square-foot property includes 18,000 square feet of Class A office uses, an engineered clean room area and the capacity to expand by another 50,000 square feet. The facility’s fully air conditioned manufacturing area is equipped with extra-thick cement flooring to accommodate an array of specialized machinery, overhead cranes and above-ground testing tanks. The facility features individual employees lockers, a large break room on the main floor and a coffee bar/quick mart. Additionally, the 11-acre site is equipped with EV charging stations and the structure design incorporates the correct roof loading and electrical infrastructure to accommodate future solar panel installation.

June 12, 2025

Arizona Development Multifamily Western

Habitat Metro Delivers 70-Unit Apartment Project in Downtown Phoenix

by Amy Works June 11, 2025

PHOENIX — Habitat Metro, as owner/developer, has completed ECO Phoenix, a multifamily property located at 301 E. Roosevelt in downtown Phoenix. CCBG Architects designed the 125,000-square-foot five-story property that offers 70 apartments and 3,300 square feet of retail space. Units feature quartz countertops, wood-style flooring, stainless steel appliances and efficient lighting. The $20 million project features solar energy utilization, a car-share program, greywater recycling and other urban sustainability amenities. Proof Bread occupies 600 square feet of the retail space. The bakery and café offers baked goods, beverages, indoor seating and a kids’ play area. Sletten Cos. served as general contractor. PK Associates, WERK Studio, Hartford Engineering and Ritcoh/Powell Associates served as subcontractors for the project.

June 11, 2025

Acquisitions Arizona Office Western

Avnet Purchases 150,000 SF Office Building in Tempe, Arizona as New Corporate Headquarters

by Amy Works June 9, 2025

TEMPE, ARIZ. — Avnet, a global technology distributor and solutions provider, has acquired 2155 East GoDaddy Way in Tempe from ElmTree Funds LLC for an undisclosed price. Avnet will use the 150,000-square-foot Class A office building as its new global headquarters. Currently headquartered at 2211 S. 47th Street in Phoenix, Avnet plans to move into the building in mid-2026. Built in 2014, 2155 S. Science Drive recently served as GoDaddy’s corporate headquarters and its address was changed to 2155 E. GoDaddy Way. The building features a variety of onsite and nearby amenities, including pickleball courts, a skate park, basketball and volleyball courts, soccer field, full-service kitchen, conference and training rooms, huddle rooms, fitness center, locker rooms and shower facilities, yoga room and a game center. Jim Fijan, Jack Fijan and Scott Baumgarten of Transwestern Real Estate Services represented ElmTree Funds in the deal.

June 9, 2025

Arizona Loans Multifamily Western

BWE Secures $31.2M Loan for Refinancing of Cabana Bullard Multifamily Property in Goodyear, Arizona

by Amy Works June 6, 2025

GOODYEAR, ARIZ. — BWE, on behalf of Scottsdale, Ariz.-based Greenlight Communities, has arranged $31.2 million to refinance Cabana Bullard, an apartment community in Goodyear. Located at North Bullard Avenue and West Van Buren Street, Cabana Bullard offers studio, one- and two-bedroom apartments. Located at 14780 W. Van Buren St., Cabana Bullard was built in 2023. Charlie Williams and Matt Terpstra of BWE originated the three-year, full-term interest-only loan with a competitive rate and flexible terms. A national life company lender provided the financing.

June 6, 2025

Acquisitions Arizona Multifamily Western

CBRE Arranges $90M Sale of Three-Property Multifamily Portfolio in Downtown Phoenix

by Amy Works June 5, 2025

PHOENIX — CBRE has negotiated the sale of a three-property multifamily portfolio in downtown Phoenix. Regent Properties acquired the portfolio from Baron Properties for $90 million. The portfolio includes the 104-unit Linear at 295 E. Roosevelt St., the 111-unit iLuminate at 290 E. Roosevelt St. and the 108-unit The McKinley at 280 W. McKinley St. The communities feature high-quality podium construction, air-conditioned interior corridors, multiple elevators, resort-style swimming pools, rooftop patios and contemporary urban design aesthetics. Totaling 323 units, the three properties are located within one-half mile of each other in the Roosevelt Row neighborhood. Baron Properties built the assets between 2016 and 2020. Asher Gunter, Matt Pesch, Austin Groen and Sean Cunningham of CBRE represented the seller in the deal. Jesse Weber and Andrew Behrens of CBRE Debt & Structured Finance arranged financing on behalf of the buyer. The transaction marks Regent Properties’ first Phoenix-area multifamily acquisition.

June 5, 2025

Arizona Development Leasing Activity Retail Western

Diversified Partners to Develop 75,000 SF Entertainment Space at Mixed-Use Project in Phoenix

by Amy Works June 5, 2025

PHOENIX — Scottsdale-based Diversified Partners has signed The Rush Funplex, a 75,000-square-foot indoor family entertainment center, to anchor its new 14-acre mixed-use development located in the Phoenix neighborhood of Laveen. Construction is expected to begin by early 2026, with a grand opening scheduled for December 2026. Developed by Diversified Partners and designed by RKAA Architects, the facility will feature go-karts, bowling, a rock-climbing wall with a foam pit, laser tag, mini-golf, arcade, bumper cars, kiddie cars, private party rooms and a café. Additional tenants that will join The Rush Funplex at the property include QuikTrip, Bubble Bath Car Wash, Express Oil Change & Tire Engineers, Hippo Veterinary Hospital and a national burger chain. This location marks The Rush Funplex’s second location in Arizona. The company’s first Arizona location will open in Goodyear as part of another Diversified Partners development.

June 5, 2025

Arizona California Florida Loans Multifamily Western

JLL Secures $255.3M Refinancing for TruAmerica, Oaktree Capital Management Multifamily Portfolio

by Amy Works June 4, 2025

LOS ANGELES — TruAmerica Multifamily and Oaktree Capital Management, both based in Los Angeles, have received a loan for approximately $255.3 million to refinance four multifamily properties. JLL Capital Market’s debt advisory team represented the borrower and was led by President Kevin Mackenzie and Managing Directors Annie Rice and Brandon Smith. The JLL team arranged a five-year, floating-rate loan through a national bank. The portfolio includes three Florida properties: Arbors at Carrollwood in Tampa and Audubon Park and Alcove Orlando in Orlando. In Arizona, the portfolio features Luxe Scottsdale. The properties were built between 2001 and 2017.

June 4, 2025

Arizona Hospitality Loans Walker & Dunlop Western

Walker & Dunlop Arranges $86M Refinancing for Caesars Republic Scottsdale Hotel in Arizona

by Amy Works June 4, 2025

SCOTTSDALE, ARIZ. — Walker & Dunlop has arranged an $86 million loan to refinance the Caesars Republic Scottsdale, a Hilton Hotel. Walker & Dunlop Arizona Capital Markets, led by Jim Pierson and Keaton Merrell, partnered with Walker & Dunlop New York Capital Markets, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Ari Hirt and Christopher de Raet, to arrange the loan as an exclusive advisor to HCW Development. A regional bank provided the financing. Jay Morrow and Carter Gradwell of Walker & Dunlop Hospitality guided HCW throughout the process, working in collaboration with the capital markets teams. Opened in March 2024, the 11-story hotel offers 265 guest rooms, including five exclusive top-floor penthouse suites with panoramic views, outdoor terraces and full kitchens, alongside 28 luxury suites. Amenities include three restaurants, two pools and more than 20,000 square feet of event space, including a 7,000-square-foot ballroom that opens to Cleopatra’s Pool & Bar and the 3,000-square-foot Camelback Veranda and several conference rooms. Caesars Republic Scottsdale is the first non-gaming hotel by Caesars Entertainment in the United States and represents a partnership between Caesars Entertainment, Hilton Hotels and HCW.

June 4, 2025

Arizona Development Mixed-Use Office Restaurant Retail Western

Wespac Breaks Ground on Sprouts Farmers Market Headquarters in Phoenix

by Amy Works June 3, 2025

PHOENIX — Wespac Construction has broken ground for the construction of Sprouts Farmers Market headquarters, a mixed-use campus in north Phoenix. Trammell Crow Co. is developing the project, which was designed by RSP Architects. Keyser and JLL are handling brokerage services for the project. Located within CityNorth near 56th Street and Loop 101, the 180,000-square-foot campus will feature a four-story, 144,500-square-foot Class A office building, a 25,000-square-foot flagship Sprouts grocery store, 11,000 square feet of high-end retail and restaurant space and a three-story parking garage. The campus will also offer modern amenities, including an onsite gym, yoga studio, top-floor deck, Press Coffee café, culinary kitchens, tasting rooms and a garden for chef-driven meals and community events. Sprouts will transition from its current 96,000-square-foot space to the new location by August 2026.

June 3, 2025

Acquisitions Arizona Office Western

Commercial Retail Advisors Brokers Sale of Oracle Gateway Office Building in Tucson, Arizona

by Amy Works June 2, 2025

TUCSON, ARIZ. — Commercial Retail Advisors has arranged the sale of Oracle Gateway, an office property at 3870 N. Oracle Road in Tucson. Spotted Fawn LLC acquired the asset from 3838 Oracle Plaza Joint Venture LLC for an undisclosed price. The two-story, 22,901-square-foot building was vacant at the time of sale. Craig Finfrock of Commercial Retail Advisors represented the seller, while the buyer was self-represented in the transaction. Ten-X facilitated the auction sale. Commercial Retail Advisors will represent Spotted Fawn LLC in the leasing of the property.

June 2, 2025

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