Sales Transactions
1. Lincoln Property Co. sold a 1.3MSF industrial building at its Park303 logistics park in Glendale to Dollar Tree for $147.1M. The facility, known as Phase 2 Building C, will serve as the retailer’s first regional distribution center in metro Phoenix. CBRE’s Reid Wilbraham and Cooper Fratt represented the tenant.
2. Verde Investments sold the 345KSF industrial asset at 2402 W. Beardsley Way in Deer Valley for $60M. An entity tracing to Viawest Group purchased the two-building property. The property also includes six MW of power, two 4,000 amp switchboards, a 2,000 amp switchboard and backup generators.
3. Newmark announced it arranged the sale and acquisition financing for Park Tower Apartments, a 180-unit multifamily community in Chandler. The property sold for $40.1M. Newmark’s Chris Canter, Brad Goff and Brett Polachek represented the buyer, TruAmerica Multifamily. The seller was Univest.
4. An entity tracing to PSP Partners purchased a 148.7KSF industrial building at 4455 W. Camelback Road in Phoenix. Westcore Properties sold the industrial property for $26M.
5. HSL Properties purchased the 204-unit The Vintage Apartments at 8225 E. Speedway Blvd. near Pantano. Core Woodridge JV LLC’s RP WR8255 LLC sold the 126.3KSF property for $24.5M.
6. The Initial Development Company purchased Olive 101 Industrial Center in Peoria for $18.1M. The 75.5KSF building at 8700 N. 91st Ave. sits on 4.8 acres and is fully leased to two tenants. Colosseum AZ, LLC was the seller, and Colliers handled the transaction.
7. CRE8 Advisors brokered the $14.1M sale of a 17-acre commercial site at SR-24 and Meridian–Pecos Road in Queen Creek. The property was sold by Meridian 17, LLC to Horne 1200, LLC through a 1031 Exchange.
8. Lindsay Square, a 46.7KSF fully leased shopping center at Lindsay and Williams Field Roads in Gilbert, sold for $13M to a Washington-based family investment firm. Kidder Mathews represented the buyer and will continue leasing the property.
9. JRG Capital Partners purchased the Milum Textile Services site, a 90-year-old industrial laundry property in downtown Phoenix, for $8.5M. The property, located at Van Buren Street and Seventh Avenue, includes two buildings with rare lamella roofs, a storage yard and a parking lot. The seller was the Milum family, represented by SVN Desert Commercial Advisors. JRG said the parcel could be positioned for a large-scale development.
10. 29th Street Capital has acquired Agave Ridge Apartments, a 148-unit multifamily community in Phoenix. The property, formerly Urban 148, will be managed by 29th Street Living. Agave Ridge recently underwent significant renovations and will be rebranded.
11. An entity tied to Kathryn L. McEuen purchased the Primrose School of Gilbert at San Tan property for $5M. The 11.8KSF day-care center, built in 2015, is on 1.6 acres at 4050 S. Val Vista Dr. in Gilbert. The seller was an entity tied to Neeta Manubhai Madhavbhai Bhakta.
12. JLL Capital Markets announced the sale of Marigold Two-Pack, a two-building industrial portfolio totaling 237.8KSF located in metro Phoenix. The first property is a 100KSF in the southwest Valley. The second building totals 137.8KSF and is located near the airport. JLL’s Ben Geelan and Greer Oliver represented the undisclosed seller. Ares Industrial Management purchased the properties. Transaction details were undisclosed.
13. A local investment group that includes Steve Kerr purchased the Arizona Inn, a 95-year-old boutique resort in Tucson. The 14-acre property at 2200 E. Elm St. has 89 rooms and was founded in 1930. The sale price was not disclosed. The new owners plan to restore guest rooms, upgrade amenities and reopen the Audubon Bar as Bar 1933.
Lease Transactions
14. JLL signed a 30.3KSF lease that relocates and expands the corporate headquarters of technology company Showit to downtown Chandler. With its new lease, the company joins the tenant roster at The Johnathan, a 107.5KSF creative office building at 55 N. Arizona Place. JLL’s Kyle Seeger, Ryan Bartos and Jami Savage-Gray represented Showit in its lease negotiations. JLL’s Brett Thompson represented the owner, Asana Partners. Showit is expected to move into its new offices in February 2026.
15. Valley of the Sun United Way signed a long-term lease for 14KSF at the Graham Building at Park Central in midtown Phoenix. The nonprofit will relocate its headquarters on Dec. 1 from the 28KSF Bond building at 3200 E. Camelback Road. Lee & Associates handled the transaction.