Arizona

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ArizonaGrocery-anchoredInvestment salesNews

JLL Negotiates $53.8 Million Sale of Grocery-Anchored Retail Center in Suburban Tucson, Arizona

by Abby Cox

Oro Valley, Ariz. — JLL Capital Markets has negotiated the $53.8 million sale of Oracle Crossing, a 265,530-square-foot retail center located in Oro Valley, approximately six miles northwest of Tucson. Patrick Dempsey and Ross Jorgensen of JLL represented the sellers, entities doing business as Oracle Crossings LLC and Oracle and Magee LLC. The buyers were two entities doing business as Oracle Station LLC and Oracle Station I LLC. Built in 2006, Oracle Station spans 30 acres and is anchored by Sprouts Farmers Market. Other tenants at the center, which was 96 …

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The-Lakefront-Scottsdale-AZ
ArizonaInvestment salesMixed-useNews

Diversified Partners Acquires Site for 100,000-Square-Foot Mixed-Use Project in Scottsdale, Arizona

by Abby Cox

Scottsdale, Ariz. — Diversified Partners has acquired a waterfront property in Scottsdale that will become The Lakefront at Scottsdale, a 100,000-square-foot mixed-use redevelopment. The property will be redeveloped in phases offering restaurant, retail and office space centered around walkability, gathering spaces and waterfront activation. Originally developed in 1978, the redevelopment will preserve elements of the property’s longstanding architectural character while modernizing the site to serve the needs of the Scottsdale community. The Lakefront at Scottsdale will feature signature restaurants with outdoor dining overlooking the lake, boutique and experiential retail concepts, luxury …

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2975-W-Dove-Valley-Rd-Phoenix-AZ
ArizonaInvestment salesNews

Marcus & Millichap Brokers $4.4 Million Sale of Single Tenant Retail Property in Phoenix

by Abby Cox

Phoenix — Marcus & Millichap has arranged the $4.4 million purchase of a single tenant retail property located at 2975 W. Dove Valley Road in Phoenix. Chipotle occupies the 2,458-square-foot restaurant building, which was built in 2025. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap represented the buyer, an Arizona-based limited liability company, in the off-market transaction.

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Super-Star-Car-Wash-Tucson-AZ
ArizonaInvestment salesNews

Marcus & Millichap Brokers $9.7 Million Sale-Leasebacks of Two Car Wash Properties in Arizona

by Abby Cox

Tucson and Glendale, Ariz. — Marcus & Millichap has negotiated the sales of two single-tenant Super Star Car Wash properties in Tucson and Glendale for a combined $9.7 million. Super Star Car Wash sold the assets to two separate buyers. The Tucson property, located at 8690 E. Golf Links Road, sold for $4.7 million. Built in 2024, the 4,226-square-foot car wash sits on approximately 1.2 acres. The Glendale property, located at 5131 W. Olive Ave., sold for $5 million. Completed in 2025, the 4,620-square-foot asset occupies approximately 1.1 acres. Founded in …

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ArizonaDevelopmentGrocery-anchoredInvestment salesNews

SimonCRE Acquires 10 Acres to Develop Prasada East Retail Project in Surprise, Arizona

by Abby Cox

Surprise, Ariz. — SimonCRE has acquired approximately 10 acres of land to develop Prasada East, a 98,000-square-foot open-air center located in Surprise, about 30 miles northwest of Phoenix. SimonCRE plans to break ground on the project later this spring. Prasada East will complement the existing Village at Prasada and Prasada North developments, which comprise more than 1 million square feet. The initial phase of Prasada East will feature a new 35,100-square-foot Whole Foods Market as the property’s anchor, as well as additional box spaces, multiple restaurant pads and shop space. Additional …

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Deer-Valley-Shoppes
ArizonaColoradoInvestment salesNevadaNewsNorth Carolina

CenterSquare Acquires Four Centers

by Abby Cox

Conshohocken, Pa. — Conshohocken, Pennsylvania-based CenterSquare Investment Management has acquired four shopping centers in four states. The portfolio includes Trade Court Shoppes Add-On, a fully leased, 14,721-square-foot retail center in Charlotte, North Carolina; Deer Valley Shoppes, a 17,000-square-foot retail strip center in Phoenix; Lake Mead Gateway Plaza, a fully leased, 19,671-square-foot shopping center in Henderson, Nevada; and The Shops at Foothills Mall, a 111,220-square-foot retail center in Fort Collins, Colorado. Together, the shopping centers span more than 162,000 square feet and were 93 percent occupied at the time of sale.

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modera-higley-commons
ArizonaLeasingMixed-useNews

Mill Creek Residential Signs Leases with Seven New Tenants at Modera Higley Commons in Gilbert, Arizona

by Abby Cox

Gilbert, Ariz. — Mill Creek Residential has signed seven new leases totaling 16,650 square feet at Modera Higley Commons, a mixed-use apartment community located in Gilbert, a suburb of Phoenix. Tenants will include The Mick Brasserie, California Closets, Pvolve, Zara Nail Bar, Playa Bowls, Bodybar Pilates and GoodVets. Roughly 85 percent of the retail space is now occupied. Modera Higley Commons features 19,602 square feet of ground-floor retail space, along with 276 apartments.

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ArizonaDevelopmentInvestment salesNews

Legacy Purchases Development Site in Southern Arizona, Begins Construction on Retail Center

by Abby Cox

Maricopa, Ariz. — Legacy Development Partners has purchased a development site for a planned, ground-up retail center located in Maricopa. Construction on the property is expected to begin immediately. Dubbed Legacy on Porter, the 6.6-acre project will deliver more than 45,000 square feet of retail, restaurant and service-oriented space. Confirmed tenants include Goodwill, Chipotle Mexican Grill, Jersey Mike’s Subs, HTeaO, Orlie’s Taproom and Swig. Leasing negotiations for the remaining shop space and pad sites are ongoing.

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Chop-Shop
ArizonaInvestment salesNews

Marcus & Millichap Brokers Sale of 2,847-Square-Foot Single-Tenant Restaurant Property in Phoenix

by Abby Cox

Phoenix — Marcus & Millichap has brokered the sale of a single-tenant restaurant property located at 2817 North 7th St. in Phoenix. Built in 1969, the 2,847-square-foot drive-thru building is occupied by Original Chop Shop, a Scottsdale-based fast-casual eatery with 27 locations across Arizona, Texas and Georgia. The restaurant will remain in operation following the sale. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, a California-based investor, in the transaction.

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Target-Verrado-Marketplace
ArizonaLeasingNews

Seven New Tenants to Open at Verrado Marketplace in Metro Phoenix

by Abby Cox

Buckeye, Ariz. — Seven new tenants will open this month at Verrado Marketplace, a 500,000-square-foot shopping center development located in Buckeye, approximately 35 miles outside Phoenix. The first wave of tenants includes Buckle, Ulta Beauty, Target, Bath & Body Works, Famous Footwear, Marshalls and HomeGoods. Target, which spans 148,000 square feet, will be the first anchor tenant to open at Verrado Marketplace on May 17. The next wave of tenants will debut in June, including Einstein Bros. Bagels, Elite Shutters & Blinds, Great Clips, Pacific Dental Services, NextCare Urgent Care, Paramount …

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