Sales Transactions
1. Two entities tracing to LXP Industrial Trust purchased a six-building, 628.2KSF office campus at Broadway Road and 32nd Street in Phoenix for $103M from Epic Apollo LLC. CLP Riverpoint (4015, 4025 & 4050) LLC acquired three buildings for $51.5M, while CLP Riverpoint (4035, 4045 & 4055) LLC purchased the remaining three buildings for $51.5M. The campus includes one 10-story tower, two six-story towers, two parking garages and a 9.2KSF restaurant space. The property previously served as the headquarters campus for University of Phoenix, which continues to occupy approximately 82KSF at the site through 2031.
2. Belkorp purchased a 174KSF manufacturing facility at 3809 E. Watkins St. in Phoenix for $44.1M from an LBA Realty fund. Cushman & Wakefield’s Will Strong, Phil Haenel, Foster Bundy, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren represented both the buyer and seller. The fully leased asset is occupied by AZ Pharmacy (PillPack), a subsidiary of Amazon, with the lease backed by a corporate guarantee from Amazon.com. The property, located within the Sky Harbor Airport submarket, features 8,000 amps of power and offers access to Interstate 10, Interstate 17, Loop 202 and Phoenix Sky Harbor International Airport.
3. Prologis has paid $28M to acquire the 13.6-acre Innovation Centre Commerce Park site from Crow Holdings and now plans to serve as the developer moving forward. The project is planned for 2.16MSF of industrial and office use. Will Strong, Molly Miller, Michael Matchett, Madeline Warren and Jack Stamets of Cushman & Wakefield represented both parties.
4. Rosendin Electric acquired a new regional headquarters office in Chandler from Douglas Allred Company. Todd Noel and Michael Rosendin of Colliers represented Rosendin Electric, while Michael Strittmatter of Cushman & Wakefield represented the seller. Rosendin is investing approximately $25M in tenant improvements for the building, which will consolidate the company’s Tempe and Phoenix offices and support up to 400 employees. The renovated office will include a training center, technology lab, innovation space and marketing production areas. Construction is set to begin immediately, with the office expected to open in Q1 2027.
5. CBRE facilitated the $20.75M sale of a newly constructed, multi-tenant industrial building totaling 75.6KSF at 8700 North 91st Ave. in Peoria. CBRE’s Geoffrey Turbow represented buyer Trumark Real Estate Management. The seller was The Initial Development Company, led by principal David Baum. Completed in 2024, the industrial property is fully occupied and was acquired as part of a 1031 exchange.
6. Rock Forge, LLC purchased the Hackberry Silver Mine, a 231-acre mining property approximately 27 miles northeast of Kingman, for $10M from the Hughes Family Trust. Compass Arizona Associate Broker Anne Sheldon represented the seller. Rose Law Group attorney George Finn handled the legal aspects of the sale, and Kelly Silva of WFG National Title coordinated research.
7. Jadian Capital recently acquired three industrial buildings on a 5.64-acre site at the SEC of 35th Avenue and Thomas Road in Phoenix for $7.3M. MLC Bridgestone LLC sold the 51.9KSF property. The buyer was represented by DAUM Commercial Real Estate’s Trevor McKendry, Chris Rogers, Nick Reinhardt, Beau Citron and Nick Fajardo, while Steve McKendry and Kirk Jenkins represented MLC Bridgestone.
8. TNT Plaster and Construction sold a 3.4-acre site containing four buildings at 724 E. Southern Pacific Dr. in Phoenix to Union Pacific Railroad Company for $6.6M. The seller was represented by Cushman & Wakefield’s John Pompay and Will Groves.
9. A 48.94-acre property at the SEC of North Thorton Road and Gila Bend Highway in Casa Grande recently sold for $4.07M. Ecobat Resources sold the industrial and commercially zoned site to Sunbelt Investment Holdings.
10. Tucson Sam Hughes, LLC purchased a 52KSF office building at 100-150 N. Tucson Blvd. in Tucson from Eria, LLC for $3.3M. Richard M. Kleiner and Alexis Corona with Cushman & Wakefield | PICOR represented the seller. Robert Davis with Tango Commercial Real Estate, LLC represented the buyer.
Lease Transactions
11. Consumer Cellular Inc. recently signed a 123.3KSF lease at 8501 E. Raintree Dr. in north Scottsdale. The phone services provider will take over the entirety of the office building for 15 years. The tenant was represented by Keyser Commercial Real Estate’s Jonathan Keyser. Tryperion Holdings, the landlord, was represented by JLL’s Bryan Taute.