Sales Transactions
1. Stockdale Capital Partners purchased Avant at Fashion Center, a 335-unit luxury apartment community in Chandler, for $110.25M. The property was approximately 94% occupied at closing. Steve Gebring and Cliff David of Institutional Property Advisors marketed the property for the seller.
2. The Department of Homeland Security recently purchased a 418.4KSF building at 13290 W. Sweetwater Ave. in Surprise for $70M. RG Surprise AZ LLC, an affiliate of Rockefeller Group, sold the property, which is named Surprise Pointe. The building will be turned into a processing facility that will hold roughly 1,500 beds.
3. Tucson Truck Terminal, also known as the Triple T Truck Stop, sold for $8.25M on Jan. 16. The asset encompasses approximately 39.6KSF on more than 14 acres at 5451 E. Benson Highway in Tucson. Satguru Enterprises III LLC of Litchfield Park acquired the property from Tucson Truck Terminal Inc. Jazz Deol with ORION Investment Real Estate represented the buyer.
4. ABI Multifamily announced the $7.4M sale of McClintock Townhomes, a 44-unit multifamily apartment community in Tempe. The buyer was represented by ABI‘s Dallin Hammond, Mitchell Drake, and Carson Griesemer. The buyer is based in Arizona, and the seller is based in California.
5. Fortis Development of Mesa, c/o Kevin Benson, sold a 1.5KSF drive-thru restaurant at 2574 N. Campbell Ave. in Tucson for $3.6M. The building, which is currently occupied by Angie’s Prime Grill, was purchased by Wilcox Center II LLC of Tucson, c/o Neil Kleinman. CBRE’s Benjamin Farthing and Owen Littrel handled the transaction.
6. The Mahoney Group office building at 5330 N. La Cholla Blvd. in Tucson sold for $3.2M in an owner-user deal. The single-story office property totals approximately 17KSF on roughly 1.7 acres within the Riverside Crossing commercial park. Spencer Land, LLC, an affiliate of Spencer Construction, acquired the building from M & O Tucson, LLC, an affiliate of The Mahoney Group. Isaac Figueroa with Larsen Baker represented the seller, and David Carroll with Paul Ash Commercial Real Estate represented the buyer.
7. Unisource Energy Services is planning a new operations headquarters on two freshly purchased parcels in Lake Havasu City. UES purchased the 28-acre site on Jan. 28 via a public auction for $2.3M.
8. A joint venture between Cypress West Partners and TPG Angelo Gordon acquired Pima Medical Pavilion, a 91.2KSF medical office building at 8415 N. Pima Road in Scottsdale. Healthcare Realty Trust sold the two-story property, which was 92% leased at the time of sale. JLL represented the seller. No transaction price was disclosed.
9. Cost Income Properties, Inc. recently purchased the 28.1KSF Halsted Medical Plaza at 1725-1727 W. Frye Road in Chandler for an undisclosed amount. CBRE’s Chris Bodnar, Brannan Knott, Cole Reethof and Philip Wurth represented the undisclosed seller, while the company’s Zack Holderman, Jesse Greshin and Amber Coleman arranged financing.
Lease Transactions
10. Amazon signed a lease for approximately 1.1MSF at West 202 Logistics, an eight-building industrial park developed by CapRock Partners near the I-10 and Loop 202 interchange in Phoenix. The facility is located at the NEC of North 59th Avenue and West Van Buren Street and will operate as a distribution center.
11. Planet Fitness, operated by Broadway FP, LLC, signed a lease for approximately 28.6KSF at ABC Broadway & Kolb Shopping Center at 7125 E. Broadway Blvd. in Tucson. The fitness center is expected to open in mid-2026. Craig Finfrock of Commercial Retail Advisors, LLC represented the landlord, ABC Broadway/Kolb Center, LLC, and Ben Craney of NAI Horizon represented the tenant.