Sales Transactions
1. A joint venture between Rockpoint and Related sold the 388-unit Town Deer Valley in Phoenix for $131.1M. Goodman Real Estate purchased the apartment complex. Institutional Property Advisors’ Cliff David and Steve Gebing procured the buyer and represented the seller.
2. The 149-room Courtyard by Marriott Tucson Airport Hotel sold at auction for $14.2M. The hotel is located at 2505 E. Executive Dr. in Tucson near Tucson International Airport. The seller, Skyline CM Tucson, LLC, was represented by Ebrahim Valliani and Michael Klar. Ryan Sarbinoff was the broker of record.
3. A 14.9KSF building in the Oracle Wetmore Shopping Center at 4420 N. Oracle Road in Tucson was sold for $3.7M. Cavender’s purchased the property and was represented by Western Retail Advisors’ Neil Board and Noah Anastassatos. Cushman & Wakefield’s Aaron LaPrise represented the seller, Tucson Arizona Partners.
4. FJM Merced Associates, L.O. purchased 26.4KSF of industrial space at 6898-6910 N. Camino Martin in Marana from Acorn Ventures, LLC for $2.5M. Alex Demeroutis and Andrew Keim with Cushman & Wakefield | PICOR represented the buyer. Max Fisher with BRD Realty, LLC represented the seller.
5. CBRE facilitated the $2.03M single-tenant net investment sale of Circle City ABA, located at 3719 N. Campbell Ave. in Tucson, to 4-D Properties LLP. CBRE’s Retail Investment Partners’ John Read, Trent Steeves and Philip Voorhees, along with Nancy McClure, represented seller 3719 Campbell Partners, LLC. The tenant, Circle City ABA, has committed to a long-term lease for the 8.2KSF property.
Lease Transactions
6. EoS Fitness leased a 40KSF space near the corner of Loop 303 and Cactus Road in Surprise. Echelon Realty Advisors handled the lease. The new location is expected to open in 2026.
7. JLL announced it signed Sprouts Farmers Market as the signature anchor tenant for Tribute Plaza at 4001 E. Buffalo Soldier Trail in Sierra Vista. Tribute Plaza is a neighborhood shopping center being developed by SimonCRE at the NEC of Highway 92 and Buffalo Soldier Trail. JLL’s Regan Amato represented Sprouts in the lease negotiations. The store is slated to open in 2027.
8. NAI Horizon’s Kevin Higgins and Thomas Smith represented the landlord, Superstition Development LLC, in a long-term lease for Echoes Church at the Mountain Vista Business Center at 10153 E. Hampton Ave. in Mesa. The 10.7KSF flex/office long-term lease is valued at $864.1K.