AZBEX NOTE: Over the last several months, we have seen a sharp increase in the number of CRE transactions submitted for publication without dollar amounts or, occasionally, the names of the parties involved. We understand brokerages and their clients may sometimes believe there is value in withholding this information, but this “shadow reporting” does a disservice to our readers.
Moving forward, we will no longer be publishing incomplete announcements to the AZBEX website. All submissions and aggregations must have the dollar amount and at least one of the two parties for inclusion. We will continue to include the complete list in the digital magazine, as transaction information, however limited, may offer some degree of value to our paid subscribers.
Sales Transactions
1. 2727 LLC, which is tied to Arte Moreno, recently purchased the Cortland Biltmore luxury living community at 2727 E. Camelback Road in Phoenix for $125M. An entity tracing to Cortland Partners sold the 253-unit property. The transaction was handled by CBRE’s Asher Gunter, Matt Pesch and Austin Groen.
2. The 70-unit Avalon Townhomes recently sold for $30.1M. Bela Flor Communities and TruVista Development sold the Built-to-Rent community at 13025 W. Thomas Road in Avondale. The sellers were represented by Berkadia’s Mark Forrester, Andrew Curtis, Ryan Boyle and Griffin Brenseke. LVP Partners Group was the buyer.
3. Neighborhood Ventures acquired Venture on 16th, an 86-unit multifamily community in the Biltmore District of Uptown Phoenix, for $19.5M in a short sale. The seller and transaction representatives were not disclosed. The property features a mix of two-, three- and four-bedroom units.
4. CJ Townhomes at 3426 E. University Dr. was recently purchased by Canopy Real Estate Partners for $13.39M. TBBG Investments will handle the day-to-day operations of the 36-unit townhome community, which will now be renamed The Sonoran Townhomes. The seller was not disclosed.
5. An outdoor storage facility at 3615 S. 28th St. called Model1 Commercial Vehicles was recently purchased by Realterm for $6.4M. The seller was undisclosed.
6. Sun Valley Assemblage LLC, an entity tracing to Michael S. Musulin, recently sold 708 acres of vacant land in Buckeye. Sun Valley 708 LLC, an entity tracing to Wilson Property Services, purchased the land for $6.37M. Nathan & Associates Inc. handled the transaction.
7. Meridiano Investments III LLC and Meridiano Investments LLC sold a two-property cannabis dispensary portfolio in Tucson for $6M. The portfolio, which is comprised of Earth’s Healing North at 78 W. River Road and Earth’s Healing South at 2075 E. Benson Hwy., totals 7.7KSF. The affiliated buyers were Sarionn LLC and Reonn LLC.
Lease Transactions
8. Logistics Property Company LLC signed two full-building leases totaling 1MSF at Olive Logistics Center, a two-building industrial development in Glendale, achieving full occupancy. The property is located at 17210 and 17240 W. Olive Ave. Andy Markham, Phil Haenel and Mike Haenel of Cushman & Wakefield represented the landlord, and Jim Wilson of Cushman & Wakefield represented the tenant, a third-party logistics provider.
9. A global third-party logistics provider signed a 629.8KSF full-building lease for Building A at Park303 in Glendale, bringing the 3.8MSF industrial development to full occupancy. The tenant was represented by Marc Hertzberg, Kelly Royle, Charlotte Elstob and Dan McGillicuddy of JLL. Lincoln Property Company is the developer, property manager and leasing agent for the project, which is located along Loop 303 at Glendale Avenue.
10. Symmetry Software, a Gusto subsidiary, recently signed a lease at George Oliver Companies’ Arbor Old Town at 14350 N. 87th St. in north Scottsdale. The lease covers a 32.5KSF portion of the nearly 350KSF office complex.
11. Barnes & Noble leased 16.1KSF of retail space at Oracle Wetmore Shopping Center, 4380 N. Oracle Road, Suite 150, in Tucson from Acacia-Tucson LLC. Aaron LaPrise with Cushman & Wakefield | PICOR represented the landlord. Phil Dagostini and Greg Laing with Phoenix Commercial Advisors represented the tenant. Barnes & Noble will open in late 2026.
12. Tucson Medical Center leased a 15KSF medical office building at 2070 W. Rudasill Road in Tucson from Redyns Development LLC. Thomas J. Nieman and Stephen D. Cohen with Cushman & Wakefield | PICOR represented the landlord. Richard M. Kleiner and Alexis Corona with C&W | PICOR represented the tenant.