Sales Transactions
1. ARIS MESA LLC, an affiliate of La Costa Capital Partners, purchased Building C at The Cubes at Mesa Gateway, a 1.2MSF Class A industrial building at 7111 S. Crismon Road in Mesa, for $116M. The seller was CRG, the original developer of the 268-acre industrial park. The building was completed in 2023 as a build-to-suit facility for Lowe’s Home Centers LLC. Cushman & Wakefield’s Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren represented CRG and procured the buyer.
2. Four affiliates of Cohen Asset Management recently purchased the 516KSF Elliot Gateway industrial property in southeast Mesa for $98M. Trammell Crow Company was the seller. Both parties were represented by CBRE’s Rusty Kennedy, Evan Koplan, Joe Cesta, Tanner Ferrandi and John Werstler.
3. Oracle Station LLC and Oracle Station I LLC purchased Oracle Crossings, a 265.5KSF grocery-anchored retail center at 7621-7755 N. Oracle Road in Oro Valley, for $53.85M. The sellers were Oracle Crossings LLC and Oracle and Magee LLC. The property is 96% leased and anchored by Sprouts Farmers Market, with Kohl’s occupying a ground lease. JLL Capital Markets’ Investment and Sales Advisory team, Patrick Dempsey, Quin Madden and Ross Jorgensen represented the seller.
4. Stellar Broadway Proper LLC, c/o Harrison Street Real Estate Capital, sold a 232-bed assisted living facility called Broadway Proper Assisted Living Community to an affiliate of PropCo Holding LLC. The assisted living community, located at 400 S. Broadway Place in Tucson, sold for $52M. The seller was represented by Everett Benton.
5. United Integrated Services (USA) Corp., a partner of Taiwan Semiconductor Manufacturing Company, recently purchased 29 acres of land in the Mack Innovation Park for $41M. DAUM Commercial Real Estate Services’ Bob Lundstedt represented UIS in the purchase alongside Skip Corley, Jr. and Chase Heinemann.
6. Nitya Capital paid $41M to purchase the 13.06-acre, 274-unit Tides on McDowell multifamily community at 4620 W. McDowell Road in Phoenix. Nitya Capital assumed the financing from the current lender. Seller Tides Equities was represented by Northmarq’s Jesse Hudson, Logan Baca and Chris Michl.
7. Cushman & Wakefield announced it has arranged the $32.5M sale of a 129-acre parcel of land at the NWC of Southern Avenue and Rooks Road in Buckeye. The property will serve as the site for the future Summit Logistics Center. The Cushman & Wakefield team of Mike Haenel, Andy Markham, Phil Haenel, Foster Bundy, Justin Smith, Jordan Sims and Brian Lee represented the seller, Arizona Land Consulting. Additionally, Haenel, Markham, Haenel, Bundy, Smith and Sims represented the buyer, Scannell Properties, and have been retained to lease the property.
8. West Highlands Plaza, an 82.4KSF retail center, recently sold for $16M. The property is anchored by Food City, which was not included in the sale, and reached 100% occupancy before closing. Ari Spiro and Sean Stutzman represented the seller. The buyer acquired the property as part of a 1031 exchange.
9. BRANKA, LLC purchased a 20.7KSF single-tenant retail property at 383 N. Gilbert Road in Gilbert for $9.4M. The seller was CBDG Gilbert LLC, c/o Common Bond Development LLC. The property is fully leased to Culinary Dropout in Gilbert’s Heritage District. Chris Hollenbeck and Shane Carter of Cushman & Wakefield exclusively represented the seller.
10. The Copper Canyon Assisted Living and Memory Care facility at 5901 N. La Cholla Blvd. in Tucson recently sold for nearly $5M. Tucson Mountain Holding LLC, c/o Pennant Services, purchased the 41-unit assisted living facility from 5901 La Cholla LLC.
11. EAW-451, LLC purchased a 19.5KSF industrial building at 451 N. Bonita Ave. in Tucson for $2.79M from Brickyard Investments Limited Partnership, LLLP. The property is located west of Interstate 10 in Tucson’s Rio Nuevo North area and was formerly occupied by Treasure Chest Books. Natalie Furrier and Greg Furrier of Cushman & Wakefield | PICOR represented the seller. Pat Welchert of Alpha Commercial Real Estate Services represented the buyer.
12. Tiny Kat Investments LLC purchased the Dollar General STNL investment property located in Sierra Vista at 5240 E. Hwy. 90 from Sequoia Capital Realty, LLC for $2.48M. Dave Hammack with Cushman & Wakefield | PICOR represented the buyer. Jesse Limon with Marcus & Millichap represented the seller.
Lease Transactions
13. Midstate Mechanical, LLC expanded its Tucson office by leasing 31.4KSF of industrial space at 6223 S. Palo Verde Road, Suite 101, in Tucson from 6221 & 6223 S. Palo Verde Rd., Tucson, LLC. Stephen D. Cohen with Cushman & Wakefield | PICOR represented the landlord. Kyle McGinley and Payton Kruidenier with Ross Brown Partners, Inc., and Darrick G. Klamut with Rolls Realty Commercial, represented the tenant.