Sales Transactions
1. Cogent Communications Holdings Inc. agreed to sell 10 data centers across nine U.S. cities, including a Phoenix facility at 1530 E. Roeser Road, for $225M to a new entity sponsored by I Squared Capital. I Squared plans to use the acquisition to launch a new U.S. data center operating platform focused on colocation, high-density deployments and AI inference infrastructure.
2. Domain 3201in Tucson recently sold for $45.5M. Domain 3201 I CG, LLC sold the 289-unit multifamily property to The Bascom Group in an off-market transaction. Institutional Property Advisors’ Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David handled the transaction. Bryten Real Estate Partners will serve as the property manager.
3. A six-duplex built-to-suit multifamily investment at 2140 N. Ralph Ave. in Tucson sold for $2.55M. The sale included multiple parcels totaling approximately 0.87 acres in Tucson’s Northeast submarket. E & S Development LLC, an affiliate of Colin Properties LLC, sold the property to Auto Body of Murrieta in a 1031 exchange. Curt Stinson and Brenden Urias Buono of Engel & Völkers represented the seller. David Gray represented the buyer, and Dustin Allred and Cindy Allred of Realty Executives Arizona Territory handled the selling side. Three duplexes at 2122, 2126 and 2130 N. Ralph Ave. were completed at the time of sale, while three additional duplexes remained under construction. As part of the transaction, the seller will complete the remaining duplexes, resulting in six duplexes across five addresses upon completion.
Lease Transactions
4. Atashi Yokocho, a Japanese food hall concept from restaurateur Huy Truong, signed a 14KSF lease at The Sydney, a $100M entertainment-driven retail development near 90th Street and Loop 101 in Scottsdale on Salt River Pima-Maricopa Indian Community land. The concept will feature approximately 15 Japanese eateries under one roof and is expected to open in late 2027 or early 2028. Palmer Development Group is the developer of the 26-acre project, which also includes the five-story, 168-key Reverb by Hard Rock Scottsdale hotel. Marti Weinstein of Diversified Partners facilitated both sides of the lease transaction.