Sales Transactions
1. An entity tracing to SkyREM purchased the Confluence industrial property at the SWC of the Casa Grande-Picacho Highway and North Sunland Gin Road in Pinal County for $51.6M. Opus Group sold the two-building property. JLL’s Greer Oliver, Ben Geelan, Bryce Beecher and Gigi Martin represented the seller.
2. Tratt Properties acquired the former KOREPlex battery plant site, a roughly 214-acre industrial development site in Buckeye, for $32.5M. The seller was KORE Power Inc., which purchased the property in 2022 for $29M before abandoning plans for a $1B lithium-ion battery manufacturing campus. The site is located off Baseline Road and State Route 85 and has been rebranded as B85 Tech Park.
3. BP Bridges Partners LLC sold four properties in the Tucson Marketplace at The Bridges. The site consists of an eight-suite strip center, two gas stations with convenience centers and a drive-thru coffee shop. Collectively, the properties were sold for $17.6M. JLL’s Nick Franklin handled each transaction. MTHREE-D Properties LLC purchased the coffee shop; Fleming and Mary Hjorting Co-Trustees (Hjorting Family Trust) purchased the Circle K; BP Bridges Partners LLC purchased the QuikTrip, and an affiliate of Curbline Properties LP purchased the Shops at the Bridges.
4. Casa Del Coronado Apartments, a 208-unit multifamily property in Tucson’s Central submarket, recently sold. The 12-building, two-story community at 201 W. Blacklidge Dr. is 110.4KSF and situated on 6.6 acres. The seller, AI NPL REO 16 LLC, which is affiliated with Ascendant Capital Partners, acquired the property last August for $17.7M and sold it for $16M. San Miguel Town LLC, an affiliate of Hanapat Management, was the buyer.
5. Villages II, III, VI and VII at Linda Vista Village in northwest Tucson were purchased by Forestar (USA) Real Estate Group, Inc. AMH Linda Vista Development TRS, LLC sold the property for $10.5M. Land Advisors Organization’s Will White and John Carroll handled the transaction.
6. Albany Road Real Estate purchased a 41.3KSF medical office property at 4530 E. Shea Blvd. in Paradise Valley. Shea and Tatum LLC sold the asset for nearly $10M. The seller was represented by CBRE’s Geoffrey Turbow, Matt Pourcho and Anthony DeLorenzo.
7. Walmart Stores, Inc. purchased Blocks 7 and 8 at Crossroads at Gladden, a 28.1-acre retail pad site in Marana, for $9.8M in an all-cash transaction that closed Dec. 18. Tangerine 2021 LLC, managed by Crown West Realty, was the seller. The property is located near I-10 and Tangerine Road and is planned for a 176KSF Walmart store with fueling stations.
8. Copperwood Communities sold its Palm Drive Mobile Home & RV Park in Wickenburg to Commerce Building LLC. The 85-unit mobile home park was sold for $8M.
9. Citywide Commercial announced the sale of 30 N. 56th St. in Phoenix. The industrial/office property sold for $6.5M. Citywide’s Chad Neppl and Vince Utucu represented the undisclosed buyer, while the undisclosed seller was represented by the Sheehan | Schumacher Industrial Team.
10. A multi-tenant medical office building at 740 E. Highland Ave. in Phoenix, totaling 18.8KSF, has sold. The property traded for $3.3M at a 7% cap rate. RWJ Phoenix, LLC acquired the asset from Dermadent Holdings, LLC.
11. Foundation 333 LLC purchased the office portion of 333 North Central, a 26-story downtown Phoenix high-rise at 333 N. Central Ave. The transaction included the top eight floors, totaling roughly 250KSF of office space, along with ground-floor retail space and parking rights. Peakstone Realty Trust sold the office component, which was built in 2010 and previously served as Freeport-McMoRan’s headquarters. The 242-room Westin Phoenix Downtown hotel, which occupies the lower portion of the tower, was not part of the sale. Newmark represented the seller.
12. Power Commerce Park at 3380 S. Power Road in Gilbert recently sold for an undisclosed amount. The development comprises 12 12.2KSF buildings. Cavan Commercial sold the property to an undisclosed buyer.
13. JLL Capital Markets completed the sale of Thunderbird Senior Living, a 345-unit senior housing community in Glendale. The 13-building, three-story property at 5401 W. Dailey St. spans 7.8 acres and includes independent living, assisted living and memory care units. The community was renovated in 2018. Stellar Senior Living will remain as the operator following the sale.
14. ViaWest Group purchased 5416 E. Baseline Road, a 63.8KSF, two-story multi-tenant office building in Mesa. Founders Properties sold the asset, which was 95% occupied at the time of sale by eight tenants. Newmark represented the seller in the transaction, which closed for an undisclosed amount.
15. A Dallas-based investor acquired Anthem Eastside Shops, a three-building retail center at 3668–3720 W. Anthem Way in Phoenix. A Montana-based partnership sold the property, which Colliers marketed and closed. The retail center totals 31.2KSF on 5.5 acres and was 88.5% leased at the time of sale.
Lease Transactions
16. Banner Health recently signed a 67KSF lease at Bond Phoenix at 3200 E. Camelback Road in Phoenix. The health giant will move its headquarters to the building in Q4 2026.
17. Opus announced the Deer Valley 30 industrial development at 1300 W. Alameda Road is now fully leased. The development is a joint venture between Opus and Principal Asset Management®. A global shipping and logistics provider, which moved into 52KSF in Building A in January 2025, has signed a lease for the remaining 54KSF to take full occupancy of the building. Opus was the developer, design-builder and architect of record on the project. Chris McClurg, Ken McQueen, Blake Peters and Jack Sims with Lee & Associates marketed the available space.