Sales Transactions
1. Prologis purchased Cotton 303 Logistics Center, a 915.2KSF industrial facility in Glendale, for $104M. The property is on 54 acres at 6801 N. Cotton Lane and was developed by The Pizzuti Companies, in partnership with Heitman Capital Management LLC. Cushman & Wakefield’s Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren represented the seller, with Don MacWilliam and Payson MacWilliams of Colliers providing leasing advisory services. The building was completed in 2022 and is fully leased to Cubework.com under a seven-year agreement.
2. TerraCap Management purchased Tresa at Arrowhead, a 360-unit multifamily community in Glendale, for $82.15M from Hamilton Zanze. CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, and CBRE Debt & Structured Finance arranged financing for the buyer. Completed in 1998, the property features a two-story layout with 107 detached garages.
3. BKM Capital Partners, on behalf of BKM Industrial Value Fund II, recently purchased the 232KSF Northwest Business Park at 2310-2440 W. Mission Lane in Phoenix from an undisclosed seller. The property was purchased for $43M.
4. InvenTrust Properties’ affiliate, IVT Hudson Station Queen Creek 1031 LLC, purchased a portion of Marketplace at Hudson Station at 22355 E. Queen Creek Road for $31.2M. An affiliate of Barclay Group was the seller. CBRE’s Ryan Schubert and Michael Hackett handled the transaction.
5. A 2.5-acre site at 1815 E. Speedway Blvd. in Tucson sold for $25M. Mortensen Development Inc. acquired the property from Triple SSS LLC and Palm Shadows LLC. Transwestern’s Jim Fijan and Jack Fijan represented the seller. Plans call for a 19-story student housing development in partnership with the University of Arizona, targeted for completion in fall 2028.
6. CBRE announced it arranged the $11.2M purchase of Arizona Veterinary Specialty Center, a 28.8KSF veterinary specialty and emergency care facility in Gilbert. CBRE’s Nick Whitstone and Miles DeLong represented the buyer, Futurepath Development Services. Located at 86 W. Juniper Ave., the property was built in 2004 and is 68% leased to Arizona Veterinary Emergency & Critical Care Center and Thrive Pet Healthcare.
7. Woodside Health acquired Greenfield Medical Outpatient Building & Ambulatory Surgery Center, a 29.8KSF property at 2450 E. Guadalupe Road in Gilbert. The single-story property is fully occupied with nine tenants, anchored by Mountain View Surgery Center Gilbert. CBRE’s Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof and Jesse Greshin, in partnership with Phil Wurth, represented the seller. The property sold for $9.8M.
8. Aspen Nevada SPE LLC and Dolores Darnold sold a 29-acre land parcel in Florence for $4.7M to Entitlements LLC. The site is located at the SEC of Felix and Arizona Farms roads. Kidder Mathews’ Brian Rosella represented the seller.
9. Store Master Funding XII LLC sold the Clean Freak Car Wash at 837 W. Irvington Road in Tucson to RNL 2025F Owner LLC for nearly $4M. The 3.9KSF car wash was constructed on a 0.66-acre site.
10. A 3.1-acre land site at 3801 N. Campbell Ave. in Tucson sold for $2.48M. Elena Sotelo acquired the property from 3801 N Campbell Ave LLC. Rob Lamb of Long Realty represented both the buyer and seller. Plans call for a roughly 120-unit apartment development, pending approvals.
11. RGR16 LLC purchased Harrison Professional Plaza, a 15KSF mixed-use retail and office investment property at 1020 S. Harrison Road in Tucson, from BSH INVESTMENTS LLC for slightly more than $2M. Bryce Horner with Cushman & Wakefield | PICOR represented the seller.