Sales Transactions
1. Country Brook Apartments at 4909 W. Joshua Blvd. in Chandler recently sold for $109.5M. The 32-building property features 396 units. Colliers’ Cindy Cooke, Brad Cooke, Chris Roach and Matt Roach handled the transaction, with Colliers Mortgage’s Luke Donahue and Patrick O’Donnell coordinating financing. The buyer and seller were not disclosed.
2. Stetson Village Shopping Center at 3800 W. Happy Valley Road in north Phoenix was sold to Longpoint Capital Partners for $71M. An entity tied to The Pederson Group sold the 197KSF shopping center.
3. Sterling Investors sold three buildings to Ares Management for $46.5M. The first industrial property is located at 5757 W. Lower Buckeye Road in Phoenix. The 100.1KSF asset sold for $21.6M. A separate building at 4025 W. Buckeye Road in Phoenix was purchased for nearly $14M. The final property, located at 201 N. 86th Ave. in Tolleson, sold for $11M.
4. Costco purchased an 18.7-acre site in Chandler with the intention of building a Costco Business Center. The site was purchased for $15.7M.
Lease Transactions
5. CEVA Logistics has subleased 1.3MSF at Elwood Logistics Center, 16155 W. Elwood St. in Goodyear, from Home Depot. The facility, developed by Tratt Properties, includes 3.9KSF of office space, 233 dock doors, 691 trailer parking stalls and 40-ft clear height. CBRE represented the landlord, Elwood Logistics.
6. Zelis Healthcare has leased 44.5KSF at Sight Logistics, located at 6860 S. Harl Ave. in Tempe, bringing the two-building industrial park to full occupancy. ViaWest purchased and redeveloped the former Insight office facility into an industrial park and has since sold it to CBRE Investment Management. Colliers represented the landlord, while CRESA represented the tenant. Zelis will use the space to manufacture and distribute insurance cards and is scheduled to take occupancy in the fourth quarter of 2025.
7. Northside at SanTan Village in Gilbert has signed Perry’s Steakhouse & Grille to lease 11KSF as the phase one anchor. Phase I totals six buildings and 37.3KSF and is now roughly 60% leased. It is under construction on the east side of SanTan Village Parkway between Williams Field and Ray Roads, with completion and openings expected in Q1 2026. Okland Capital and San Tan Development Group are the developers; Okland Construction is the general contractor; Aline Architecture Concepts is the retail center architect, and Western Retail Advisors is handling retail and restaurant leasing. The project is part of the larger 20-acre Northside master plan.