Sales Transactions
1. Lincoln Property Company sold two fully leased buildings at Park303, a 210-acre, four-building logistics park in Glendale, for $170.25M. The buildings combine for approximately 1.1MSF. One totals 629.8KSF and is fully leased to DHL, while the other totals 483.3KSF and is fully leased to Logisticus Group LLC. The properties are located along Loop 303 and Glendale Avenue near Luke Air Force Base. The buyer was identified as entities tracing to Nuveen Real Estate.
2. An entity affiliated with Camden Living acquired Camden Gilbert, a 320-unit luxury apartment community at 3150 E. Ray Road in Gilbert, for $124.5M. The seller was an entity affiliated with PGIM Real Estate. Built in 2021, the community consists of two four- and five-story mixed-use buildings totaling 536.6KSF. The property, formerly known as The Tyler, is located within the Epicenter mixed-use development in the Agritopia neighborhood.
3. Southwest Value Partners acquired Esplanade III, a 222.8KSF Class A office building at 2415 E. Camelback Road in Phoenix, for $86M. The seller was an LLC connected to Transwestern and C-III Capital Partners. JLL’s Ben Geelan, Will Mast and Charlie von Arentschildt represented the seller, while the buyer was self-represented. The 10-story building is 83.4% leased.
4. Bourn Companies, through BP Innovation Partners LLC, acquired approximately 333.6 acres of undeveloped commercial land within Innovation Park in Oro Valley for $21.25M. The property encompasses approximately 14.5MSF across 30 parcels in the Innovation Corporate Center Business Park. The seller was VWI/Vistoso Investment LLC, affiliated with Venture West Group and represented by Neil Simon. Rick Kleiner, Rob Glaser, Greg Furrier, Alexis Corona and Natalie Furrier of Cushman & Wakefield | PICOR represented the seller, with Kate Zimmerman supporting as Marketing Manager.
5. WinCo Foods LLC purchased an 11.59-acre commercial property assemblage at 5205 E. Broadway Blvd., 99 N. Beverly Ave. and adjoining Broadway frontage near Craycroft Road in Tucson for $18M. The seller was Sunbelt Stores Co. LP. The property includes approximately 505KSF of land and 119.9KSF of existing improvements. Edward Beeh of SRS Real Estate Partners represented WinCo. Current tenants include Angry Crab Shack and Pei Wei Asian Kitchen.
6. Phoenix Commercial Advisors facilitated the sale of Union Street at Norterra, a newly constructed, 16.5KSF multi-tenant retail center at the NEC of Norterra Parkway and Happy Valley Road in Phoenix, for $13.91M. The two buildings, completed in 2026, were 100% leased at the time of sale to Shake Shack, First Watch, CAVA, Tropical Smoothie Cafe and Firebirds Wood Fired Grill. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller. Neither the buyer or seller were disclosed.
7. Rein & Grossoehme Commercial Real Estate facilitated the sale of a 24.8KSF industrial building on 3.30 acres at 4040 E. Superior Ave. for $7.47M. Max Schumacher, Patrick Sheehan and Jack Hansen of Rein & Grossoehme Commercial Real Estate represented both the buyer and seller.
8. Sierra Holding LLC, affiliated with The Pennant Group, acquired Inspirations of River Centre, a 112-bed senior housing community at 5665 E. River Road in Tucson, for $7M. The 46.2KSF assisted living property sits on approximately 2.79 acres. The seller was Tucson AL RE LP.