Commercial real estate news and analysis for the Phoenix market.
Marcus & Millichap has successfully closed the $9.7 million sale-leaseback of two Super Star Car Wash locations in Tucson and Glendale, Arizona. The transactions highlight a continued appetite for single-tenant net-leased automotive properties in the Sun Belt region.
A joint venture between Creation and Horizon Real Estate has secured commitments from four new tenants at The Switchyard in Queen Creek, Arizona, signaling continued momentum for the Southeast Valley's retail sector. The 10-acre mixed-use development continues to attract interest as the submarket experiences population-driven expansion.
A 26-story, 458,047-square-foot Class A office tower at 3003 North Central Avenue sold for roughly $70 per square foot after $11 million in capital improvements, highlighting the discount still facing older high-rise office product.