Sales Transactions
1. Faraday Copper Corp. recently purchased 27,000 acres of land from BHP Copper for $503.84M. The seller also received a 30% stake in the buyer. Faraday has more than 35,000 acres of land it plans to use for the Redhawk Copper Complex mining hub.
2. CrossHarbor Capital Partners acquired The Alyssa, a 335-unit luxury multifamily community at 98 S. River Dr. in Tempe from StreetLights Residential. Corten Real Estate provided a $78.5M acquisition loan. The community debuted in 2024 and features two swimming pools, a gym, coworking areas and a resident clubroom.
3. Discount Tire acquired a 311.8KSF warehouse at West 101 Logistics near Loop 101 and Indian School Road in Phoenix from Trammell Crow Company for $64.5M. The property includes 21.8KSF of office space and 290KSF of warehouse space. CBRE’s Cooper Fratt, Tanner Ferrandi and John Werstler represented the seller, while Transwestern’s Jim Fijan and Jack Fijan represented the buyer.
4. Prep Property Group acquired The Promenade at Casa Grande, a 470.5KSF shopping center in Casa Grande from Lamar Companies for $63.1M. Built in 2007, the property includes Harkins Theaters, Ross, Michaels and Five Below. The sale excluded a separate section of the larger complex with Dillard’s, J.C. Penney and Target.
5. JCW Development and Ares Management Corp. acquired a 42-acre vacant industrial site at the SEC of 7th Avenue and Happy Valley Road in Phoenix for $45.63M. Most of the site was previously owned by REA Development, which proposed a three-building, 491KSF industrial project on 37 acres in 2022. DAUM Commercial Real Estate’s Skip Corley and Bob Lundstedt provided comments on the sale.
6. Luma Apartments at 2600 W. Inn Road in Tucson was recently sold by Village at The Foothills Owner LLC for $31.85M. HSL Luma Apartments LLC purchased the 180-unit complex. Institutional Property Advisors’ Clint Wadlund and Hamid Panhi handled the transaction.
7. GF Property 4 LLC acquired a newly constructed, 1KSF Dutch Bros. Coffee at 5960 W. Northern Ave. in Glendale from CVP-Northern AZ LLC, c/o Cole Valley Partners, for $2.88M in cash. Cushman & Wakefield’s Chris Hollenbeck and Shane Carter represented the seller.
8. Tyson Breinholt, Jack Elder and Caleb Allen of the Tyson Breinholt Team at Commercial Properties, Inc./CORFAC International completed the $2.01M sale of Goldcor Center, a 16.6KSF, multi-tenant office and retail property at 6499-6515 S. Kings Ranch Road in Gold Canyon. Sarge Glenn at CPI represented the buyer, Paul Gosar, D.D.S., while the Tyson Breinholt Team represented the seller, Goldcor Center, LLC.
Lease Transactions
9. nVent Electric plc leased 400KSF of manufacturing space in Goodyear. Production is slated to begin in the middle of 2027.
10. Ritz Safety leased 40KSF of industrial space at 3155 E. Roeser Road in Phoenix as it relocates from Tempe to accommodate continued growth. LevRose Commercial Real Estate’s Cameron Miller represented the tenant.
11. Mithril Industries Inc. leased 21.4KSF at 3325 E. Wier Ave. in Phoenix. Jean Jensen of SVN Desert Commercial Advisors assisted in the leasing.
12. Sonoran Land Resources, LLC leased 11.8KSF of office space at Gateway Business Park, 7202 E. Rosewood St., Suite 250, in Tucson from CB110 LLC and Paul Antonucci, LTD. Molly Mary Gilbert with Cushman & Wakefield | PICOR represented the tenant. Eric Lamb and Rob Fischrup with Vast Commercial Real Estate Solutions, LLC represented the landlord.