Sales Transactions
1. Blue Owl Capital acquired an 881.5KSF distribution warehouse in Tolleson for $85.27M. The property spans nearly 85 acres at the SWC of 99th Avenue and Van Buren Road. Built in 1995, the facility currently operates as an Albertson’s distribution center.
2. Millburn & Company has purchased the 260-unit Ascend at Black Canyon apartment community in north Phoenix for $58.7M. The seller was DR Horton. Institutional Property Advisors’ Steve Gebing and Cliff David procured the buyer and represented DR Horton.
3. J.P. Morgan Asset Management purchased a three-building, 248.9KSF industrial complex near Interstate 10 and 75th Avenue for $47.47M. Forms+Surfaces Inc. was the seller. The buildings were constructed between 1999 and 2007 on roughly 13 acres.
4. Cohen Asset Management Inc. purchased a fully leased 113.1KSF Class A industrial facility at 800 E. Germann Road in Chandler for $26M from Oxford Properties and Sagard Real Estate. Cushman & Wakefield’s National Industrial Advisory Group represented the buyer and seller. Completed in 2021, the facility includes a 1.5-acre secured yard and gated truck court. Ferguson Enterprises leases the entire building.
5. MGC Pure Chemicals America acquired 25 acres of industrial land in Mesa for $15M. An LLC tied to the chemical manufacturing company purchased the property from Signal Butte Land LLC, affiliated with Trammell Crow Company. The site is at the SEC of Signal Butte and Pecos roads, near MGC’s chemical plant at 6560 S. Mountain Road.
6. GI Partners purchased a 5.43-acre development site at the SEC of 7th Avenue and Grant Street in Phoenix for $14.72M. Scottsdale-based LKY Development was the seller. The site is next to an APS substation and is planned for data center use.
7. Outfront Media sold a 5.26-acre industrial flex property at 6250 N. Black Canyon Hwy. in Phoenix for $6.25M. The property includes approximately 14.9KSF of office space, 7KSF of warehouse space and a large outdoor storage yard. The buyer was an entity tracing to Taylor E. Megdal.
8. Hanley Investment Real Estate Advisors announced the $4.13M sale of a 4.6KSF Starbucks Café and drive-thru at 15615 S. Desert Foothills Pkwy. in Phoenix. The former bank building was remodeled in 2025 and converted to a single-tenant Starbucks under a new 10-year triple-net corporate-guaranteed lease. The property sits on 1.25 acres and includes a double drive-thru. Hanley’s Sean Cox, Bill Asher and Lee Csenar represented the seller, private investors affiliated with Pooya Dayanim and Andrew Gharibian of Chaser Capital. Thomas Chou of ALTC Realty represented the private investor buyer.
9. Taiwan-based Jetwell Computer Co. purchased a 10.1KSF industrial building at 205 W. Deer Valley Road in Phoenix for $3.3M. Medical imaging equipment supplier CompRay Inc. was the seller, represented by DAUM Commercial Real Estate’s Trevor McKendry, Chris Rogers, Nick Reinhardt, Beau Citron and Nick Fajardo.
10. Marcus & Millichap brokered the sale of a Black Rock Coffee Bar property at 6295 E. 22nd St. in Tucson for $2.48M. The property is leased to Black Rock Coffee Bar under an absolute triple-net lease with approximately 14 years remaining and 10% rent increases every five years. Marcus & Millichap’s Zack House, Mark Ruble and Chris Lind represented the seller, a Texas limited partnership, and procured the buyer, an Arizona limited liability company.
11. KC Tucson LLC purchased a 3.9KSF childcare property at 8425 E. Old Spanish Trail in Tucson for $2.3M. The 0.5-acre property is occupied by Skyrise School on Old Spanish Trail, part of the KinderCare family of early education centers, and was sold with a new 15-year triple-net lease to KinderCare, backed by a corporate guaranty. The seller was Tucson AZ (8425 E Old Spanish) LLC, an entity affiliated with InSite Real Estate. Fisher James Capital’s Putnam Daily and Lindsey Snider marketed the property in association with Scott Reid of ParaSell Inc., the Arizona-licensed broker.
Lease Transactions
12. Castle Biosciences recently leased 55KSF at 8667 E. Hartford Dr. in north Scottsdale. The company started moving into the new space in August.
13. Strategic Mission Critical signed an 80-month lease for approximately 38KSF at Waterview in Phoenix. Citywide Commercial’s Bo Sederstrom represented the tenant. SMC will continue to occupy the space as its headquarters, complementing additional offices in Upstate New York and Atlanta.