Sales Transactions
1. Cushman & Wakefield announced it has arranged the sale of the 264.4KSF Pima Center Small Bay Industrial Portfolio, comprised of four buildings located at 8425, 8435, 8455 and 8465 N. 90th St. in Scottsdale. Miramar Capital acquired the portfolio from Mainspring for a reported $62.5M. Cushman & Wakefield arranged the transaction, and Ross Brown Partners will continue leasing and management.
2. EDF Renewables Development Inc., a subsidiary of EDF Renewables, purchased 2,400 acres southeast of Arizona City for $22.55M. The site is proposed for a utility-scale 250MW solar generation and 250 MW battery energy storage facility. The seller traces to the Gabrych Family, care of Justin Carlson.
3. Albany Road Real Estate Partners, LLC, purchased Paradiso, a two-story, multi-tenant medical office building. The building is approximately 59.4KSF at 11000 N. Scottsdale Road in Scottsdale. The asset sold for $13.3M. Mark IV Capital Properties sold the property, and Cushman & Wakefield arranged the transaction.
4. TWR Real Estate Partners acquired a small-bay, single-tenant industrial facility and an adjacent industrial outdoor storage yard totaling approximately 2.3 acres at 7676 N. Glen Harbor Blvd. in Glendale for $12.2M. The M-1 Light Industrial-zoned property includes a roughly 76KSF warehouse with 24-ft clear heights and a 4.6KSF office, along with six dock doors and three grade-level doors. CBRE represented the buyer, and DAUM Commercial Real Estate Services represented the seller. CBRE will also handle leasing.
5. Canada Crossroads, a neighborhood retail center at 10325 N. La Cañada Drive in Oro Valley, sold for $5.7M. The stabilized retail property consists of two buildings totaling 26.3KSF on 4.25 acres at the SWC of La Cañada Drive and Lambert Lane. The seller, Peregrine Investments II LLC, sold the property in an all-cash transaction to Canada Crossroads Baceline, LLC. Matthews Real Estate Investment Services marketed the sale, which closed Nov. 12.
6. Rocket Lister purchased a two-story office building totaling 46.8KSF at 4625 S. Wendler Dr. in Tempe for $5.7M. The real estate marketing company will use a portion of the building as its headquarters and lease the remaining space. Batch Leads sold the property, which includes more than $1M in recently completed tenant improvements. Kidder Mathews represented the buyer and will continue to handle leasing.
7. Skyline Principal Investors LLC purchased a newly constructed, single-tenant Mister Car Wash at 7471 S. Houghton Road in Tucson for $5.1M. The 5.4KSF drive-thru facility, completed in 2024, occupies a 1.3-acre site at the intersection of Houghton and Valencia roads. CWPS Corp – Tucson sold the net-leased property, which closed Nov. 26.
8. Mapa Group, LLC acquired a 2.5KSF ARCO AMPM gas station and convenience store at 1201 E. Northern Ave. in Phoenix for $3.1M. The net-leased property sits on a high-visibility hard corner at 12th Street and Northern Avenue. CAZCO Asset Management sold the property, and Cushman & Wakefield arranged the transaction.
9. The three-building Gateway Center office complex at 930-950 North Finance Center Dr. in Tucson was recently purchased for $2.7M. Larsen Baker’s affiliate, Gateway Center Associates, LLC, purchased the 129KSF office complex. Larsen Baker’s Isaac Figueroa represented the buyer. The property was the former home of GEICO Insurance.
10. An absolute NNN, single-tenant Sinclair gas station at 2649 W. Indian School Road in Phoenix sold for $2.6M. The property includes a 2.9KSF convenience store and fueling station built in 2000 on approximately 0.9 acres. Glidepath, LLC purchased the retail asset from DRA852AZ, LLC. Cushman & Wakefield arranged the sale.
11. Idaho Central Credit Union purchased the former Bank of America building at 12132 N. Rancho Vistoso Blvd. in Oro Valley. Brentwood Developments (California) Fund III’s affiliate, Vistoso Plaza II LLC, a 4.5KSF retail property, sold for $2.3M. The buyer was represented by CBRE’s David Montijo, while the seller was represented by Kidder Mathews’ Tyler Griffith.
12. VCA McCormick Ranch Animal Hospital & Emergency Center, a 6.4KSF, single-tenant veterinary hospital at 10380 N. Hayden Road in Scottsdale, sold after more than 45 years of original ownership. The 24/7 facility has been owned since 1980 by a family acting through its trustee, while operated by VCA. Kidder Mathews arranged the transaction.
Lease Transactions
13. Freeport Logistics signed a 302.6KSF lease at Coldwater Depot, a Class A distribution facility at 1100 N. 127th Ave., Suite 100, in Avondale. The tenant consolidated three locations into the facility and took occupancy in November. The space includes approximately 9KSF of office space, 32-ft clear heights, 66 dock-high doors and two grade-level doors. Lake Washington Partners owns the 1MSF property. CBRE represented the landlord, and Cresa represented the tenant.
14. Kinella Capital selected Cushman & Wakefield to lease approximately 11KSF of ground-floor retail and restaurant space at One Camelback, a 163-unit residential conversion at the intersection of Central Avenue and Camelback Road in Phoenix. The retail space is part of the redevelopment of the former office property and will serve the Uptown submarket.