Sales Transactions
1. Axis Raintree, a 179.4KSF office building at 8605 E. Raintree Dr. in Scottsdale, was purchased by an entity tracing to D.R. Horton for $70.7M. Trammell Crow Company sold the office building. The seller was represented by CBRE’s Jenny Knowlton and JLL’s Charlie von Arentschildt. Cushman & Wakefield’s Brad Anderson and Mike Strittmatter represented the buyer.
2. The 210-unit Cimarron Apartments property in downtown Mesa was recently purchased by Rockwell Property Company for $33M.
3. Sares Regis Group sold Monument, a 163-unit multifamily community in Chandler, for $46M. The property at 2300 W. Pecos Road was purchased by a private investor who obtained $24.6M in acquisition financing through NorthMarq Capital. The six-acre development includes five two- and three-story buildings.
4. JLL Capital Markets arranged the $20M sale of Summers Point, a 164-unit value-add multifamily community in Glendale’s West Valley. JLL represented the seller, Wealhouse Capital Management, and arranged financing. The community at 4441 W. Bethany Home Road spans 4.3 acres across 16 buildings and offers studios, one- and two-bedroom units averaging 572SF. 98 units in the complex are renovated, and 66 are available for future improvements.
5. Neighborhood Ventures added Venture at Route 66, a 24-unit multifamily property in Flagstaff, to its NV REIT portfolio through a $5.5M Section 721 UPREIT exchange. The fully renovated and occupied community is located at 1914 E. Mountain View Ave.
6. JLL completed the $3.6M sale of a 13.5KSF industrial building at 2020 W. Guadalupe Road in Gilbert on behalf of ViaWest Group. The off-market transaction was part of ViaWest’s six-building, 428.4KSF East Valley portfolio purchased in early 2024. The flex industrial property includes roughly 9.5KSF of office space and a 4KSF warehouse. Lee & Associates represented the buyer, BAM Elite LLC.
7. WAA 5251 E Speedway Blvd, LLC purchased a 23KSF building at 5251 E. Speedway Blvd. in Tucson from Inspired Adventures Investments, LLC for $3.5M. Cushman & Wakefield | PICOR’s Natalie Furrier and Greg Furrier represented the seller, while C&W | PICOR’s Robert C. Glaser and Paul Hooker represented the buyer.
8. Bang Realty represented both buyer Monte Verde Redhawk LLC and seller Tucson-Broadway Take Five LLC, an affiliate of Durban Group, in the $2.4M sale of Take 5 Oil Change in Tucson. The 1.2KSF building is located at 7960 E. Broadway Blvd. The sale includes rent escalations and four five-year renewal options.
Lease Transactions
9. Kovach Enclosure Systems signed a 15-year lease for 190.5KSF across two buildings at Chandler Freeways Business Park, an office-to-industrial redevelopment near 6955 W. Morelos Place. The Ryan Companies and Alidade Capital joint venture is redeveloping the property into two Class-A industrial buildings, at 87.6KSF and 102.9KSF, with completion expected in the third quarter of next year. Cushman & Wakefield brokered the lease.
10. CBRE arranged a 40.4KSF Class A office lease for California State Automobile Association Insurance Group at Terrawest, located at 25800 N. Norterra Pkwy. in Phoenix. Silver Creek Development is the landlord. The three-story building was built in 2021. CSAA plans to occupy the space in Q2 2026.