Phoenix & Southwest

An Albuquerque development team is spending $51 million on a two-phase multifamily housing project. The 128-unit project will be located at 724 64th St. NW. in the Atrisco neighborhood. The project is called “West Mesa Ridge A” and is the first phase of a two-phase development. Phase 2 of construction, with the remaining 144 units, …

Revere Capital completed The Hill, a $65 million, 149-unit Class A multifamily community in Los Alamos, New Mexico. The project reached completion after Revere assumed control during construction in 2025 and worked directly with Los Alamos County and the project’s general contractor to drive the development to a stabilized outcome.  “The Hill reflects what we …

Park Avenue Health and Rehabilitation Center, a 200-bed skilled nursing and rehabilitation facility at 2001 N. Park Avenue in central Tucson, sold for $34.3 million. Real Estate Daily News reports Park Villa Corporation sold the property to the Ensign Group, which was managing the center. The 62,000 square foot facility was built in 1987. Located …

LKY Development Company was greenlit by a Casa Grande planning agency to develop a 954-acre data center campus at Montgomery Road and Maricopa-Casa Grande Highway. Casa Grande is between Phoenix and Tucson. AZBEX reports LKY is looking for a buyer to purchase the Grande Valley Industrial site and take over development. The project will incorporate …

The San Manuel Investment Authority (SMIA) acquired the Fairmont Scottsdale Princess in Scottsdale, Arizona.  Set on 65 acres in the Sonoran Desert, the resort features 750 guest rooms and suites, including the exclusive Privado Villas; the 44,000-square-foot full-service Well & Being Spa; six pools; five food and beverage outlets, including signature restaurants from renowned chefs …

AXS Opportunity Fund acquired One North Central, a 429,120-square-foot, 20-story Class A office tower located at 1 North Central Avenue in the heart of Downtown Phoenix. Newmark’s Chris Marchildon, Barry Gabel and CJ Osbrink represented the seller, Parallel Capital Partners, who bought the building for $93 million in 2015. Constructed in 2001, the tower has …

Carmel Partners purchased Edison at RiNo, a 277-unit luxury apartment building at 3063 Brighton Blvd. in Denver. The company paid $76.6 million for the apartment complex. Clarion was the previous owner. JLL secured Clarion a $60.3 million as part of a refinancing for Edison. Edison is a nine-story building with ground-floor townhome-style units and high-level …

As ALDI enters its 50th year in the United States, the low-price grocer is doubling down on its nationwide expansion, announcing plans to open more than 180 stores by the end of 2026. ALDI is announcing expansion plans into the state of Colorado within the next five years, with more than 50 stores planned for …

Nuveen Real Estate has acquired Highpoint Marketplace, a 113,833-square-foot retail center in Aurora, Colo. Commercial Search reports that Gerrity Group sold the asset for $36.3 million or roughly $319 per square foot. Gerrity Group paid $24 million for the Safeway-anchored center in 2018. Located at 18730 E. Hampden Ave., the three-building property opened in 2001 on …

Real Capital Solutions (RCS), in partnership with Dunton Commercial, has acquired Terrace Tower, a 243,464-square-foot Class A office building in the Denver Tech Center. The 12-story tower is located at 5619 DTC Parkway in Greenwood Village, CO. The purchase price was not disclosed; however, RCS says the acquisition basis is substantially below the estimated cost of more …

NorthPoint Development and BGO inked Crocs’ HEYDUDE footwear for 8 more years in a 1 million-square-foot Las Vegas warehouse. The lease agreement calls for $111 million to be paid out through the end of the lease in 2033. With that kind of certainty, the two companies have secured a $127.4 million refinancing for North Vegas …

Agora Realty (Agora) has started construction on the third and final phase of development for its 73-acre master planned mixed-use community Hylo Park.  When completed the new $375-million, 25-acre phase will be a professional-level, mixed-use youth sports-and sports tourism-focused walkable entertainment district with a complementary mix of quality amenities to serve residents, youth and amateur …