Sales Transactions
1. Using multiple affiliated LLCs, Everview Partners, L.P. paid $165.75M for a 14-building shallow-bay industrial portfolio spanning multiple Tucson locations. The seller was Pegasus Tucson Owner LLC, an affiliate of Equus Capital Partners. Known as the Tucson Shallow Bay Industrial Portfolio, the sale is made up of 85 total buildings. The portfolio was comprised of:
- Broadbent Industrial Center: $17.1M;
- Butterfield Center: $10.7M;
- Clairemont Plaza: $9.35M;
- Coach Drive Industrial Building: $4.3M;
- Commerce Plaza: $6.8M;
- Dodge Business Center: $18.3M;
- Eastpoint Business Plaza: $4.7M;
- Exchange Place: $15.05M;
- Midpoint Business Plaza: $9.1M;
- Midway Business Park: $26M;
- North Tucson Business Center: $7.8M;
- Palo Verde Industrial: $11.5M;
- Ruthrauff Commerce Center: $16.45, and
- Town Central Business Park: $8.6M.
2. Breit Olympus MF Heritage LLC, linked to Blackstone subsidiary LivCor, sold Cadia Crossing Apartments, a 256-unit multifamily community at 230 E. Civic Center Dr. in Gilbert, for $80M. Cadia Crossing GSL Fund LLC, which traces back to Walter O. Grodahi, was the buyer. Built in 2017 on 13.18 acres, the property sold for $312,500 per unit.
3. De Rito Partners purchased 130 acres in Halo Vista near Loop 303 and 43rd Avenue in north Phoenix for $67.38M to develop an auto mall. Seven dealerships have committed to the project: Courtesy Automotive Group, Berge Auto Group, Bill Luke Automotive, Potamkin Automotive, Findlay Automotive Group, Sands Automotive Group and Coulter Automotive Group. The project will include 11 lots, with three remaining available. De Rito Partners will complete infrastructure and site preparation, while the dealers will build their dealerships. The first dealerships are expected to open in 2028.
4. Marcus & Millichap’s Institutional Property Advisors division announced the $47.8M sale of the 191-unit The Astor at Osborn multifamily community in Phoenix. IPA’s Steve Gebing and Cliff Davis represented the seller and secured the buyer.
5. Commercial Properties, Inc. announced the $18.5M sale of a 72.3KSF, three-building multi-tenant industrial complex located at 1610, 1660, and 1750 N. Rosemont in Mesa. The project consists of 23 industrial suites ranging from nearly 2.75KSF to 3.9KSF. The seller, Hyatt Investments USA LLP, was represented by Andrew Jaffe with CPI. The buyer, Falcon Commerce Park LLC, was represented by Leroy Breinholt and The Leroy Breinholt Team of CPI. Falcon, the new owner, plans to invest additional capital into the property while maintaining its long-term leasing strategy.
6. MCR Companies acquired medical office buildings at 5891 W. Eugie Ave. in Glendale and 1717 W. Chandler Blvd. in Chandler, while Empower College Prep purchased 2302 N. 75th Ave. in Phoenix, as part of a three-building portfolio totaling 98.5KSF for $12.8M. CBRE’s Geoffrey Turbow, Emily Minnier, Brian Butler and W. Glenn Dyke represented the seller, a national healthcare company. The two-story Glendale property totals 35.8KSF; the two-story Phoenix property totals 44KSF, and the single-story Chandler property totals 18.6KSF. The properties span approximately 9.3 acres and are located near Banner Thunderbird Medical Center, Banner Estrella Medical Center and Dignity Health Chandler Regional Medical Center, respectively.
7. MMOF IV Tucson AZ LLC, an entity associated with Nashville-based Montecito Medical Office Fund IV, purchased the 16.6KSF Camp Lowell Surgery Center at 4620 E. Camp Lowell Dr. in Tucson for $11.4M. Camp Lowell MD Investments LLC, managed by Dr. Laurence D. Kaye, was the seller. Nathan Huffman and Ryan O’Connell of Peranich Huffman Net Lease Group marketed the property. Camp Lowell Surgery Center LLC operates at the site under an absolute net lease with a term extending through March 31, 2036.
8. OmniTRAX, a Denver-based rail and real estate affiliate of The Broe Group, added a 25-acre rail-served industrial outdoor storage site near Thornton and Peters roads in Casa Grande to its Phoenix transportation and logistics portfolio. A subsidiary of The Broe Group purchased the property for $6.75M. The site expands OmniTRAX’s effort to develop a national network of rail-served real estate sites and supports manufacturing and logistics users in the area.
9. Stellar Steel Holdings LLC, managed by Ryan Schuff, purchased the Horizon Steel property at 2325 W. Curtis Road in Tucson for $5.3M. The seller was the Stephen J. Caffall Revocable Trust. The property includes three industrial buildings totaling 45.0KSF on approximately 9.3 acres. The property consists of two parcels zoned CI-2 for general industrial use.
10. Echoes Church purchased the former Macy’s department store at Superstition Springs Mall at 6535 E. Southern Ave. in Mesa for $5M. Chad Shipley of CRE8 Advisors represented the buyer. The property encompasses approximately 155.3KSF across three levels on 12.9 acres with 966 parking spaces. The church has begun a multimillion-dollar remodel of the property, with an opening targeted for late 2028. Echoes Church will maintain its existing headquarters on East Hampton Avenue.
11. 350 N 96th Avenue LLC purchased Sunrise Schools, an 8.8KSF early childhood education facility at 350 N. 96th Ave. in Tolleson, for $3.45M. Dragon Fly Maricopa LLC was the seller. Eric Garske of Marcus & Millichap’s Portland office, in association with Ryan Sarbinoff, represented the seller and procured the buyer. Built in 2017 on 1.38 acres, the property is occupied by Sunrise Schools, which will continue operating at the location.
12. REN Investments LLC sold a property at 7870 N. Leilani Lane in Tucson for $2.5M. Buyer VASAP LLC plans to use the site for a Lightbridge Academy early childhood education center. The seller was represented by Debbie Heslop with VOLK Company. The buyers were represented by Brandon Hiett and Emily Caron with MOHR Partners.
13. Yuhaaviatam of San Manuel Nation’s unincorporated governmental instrumentality, San Manuel Investment Authority, has bought the Fairmont Scottsdale Princess resort in Scottsdale. Terms of the acquisition were not disclosed. The Yuhaaviatam of San Manuel Nation is a federally recognized Native American tribe in California.