10 Biggest Commercial Real Estate Deals In Arizona In 2024 | Living In Phoenix Arizona
10 BIGGEST COMMERCIAL REAL ESTATE DEALS IN ARIZONA IN 2024
LIVING IN PHOENIX, ARIZONA
10 Biggest Commercial Real Estate Deals In Arizona In 2024
In 2024, Arizona’s commercial real estate sector witnessed significant transactions across various property types. Notably, the Ave Paradise Valley Apartments in Phoenix sold for $183 million, highlighting robust activity in the multifamily market. The office sector saw the sale of 24th at Camelback II, a Class A office asset in Phoenix, marking the largest metro Phoenix office sale since 2022. Additionally, a $7 billion project called Halo Vista is being planned in Phoenix, aiming to create a comprehensive community around Taiwan Semiconductor Manufacturing Company’s existing facility. These deals underscore Arizona’s dynamic real estate market, driven by industrial expansion, evolving office spaces, and large-scale mixed-use developments. With that being said, here are the 10 biggest commercial real estate deals in Arizona during 2024.
The 10 Biggest Commercial Real Estate Deals In Arizona
Here are the 10 biggest commercial real estate deals in Arizona during 2024, according to Vizzda.
1. Arizona Biltmore
Sale price: $705,000,000
Location: 2400 E. Missouri Ave., Phoenix
Buyer: Henderson Park
Seller: Blackstone
2. Copperwing Logistics Center – Lots 7-9
Sale price: $258,081,239
Location: Northwest corner and northeast corner of North Dysart Road and West Northern Parkway, El Mirage
Buyer: Microsoft Corporation
Seller: Dermody Properties
3. Hermosa Ranch – Lot 1 (206.83 Acres)
Sale price: $246,886,895
Location: Southwest corner of Avondale Boulevard and Lower Buckeye Road, Avondale
Buyers: Blackstone and QTS Data Centers
Sellers: Terry Klinger and Grand View Dairy
4. Desert Club Apartments
Sale price: $187,500,000
Location: 6901 E. Chauncey Lane, Phoenix
Buyer: Weidner Apartment Homes
Seller: Clarion Partners
5. Ave Paradise Valley Apartments
Sale price: $183,000,000
Location: 12400 N. Tatum Blvd., Phoenix
Buyer: RXR Realty
Seller: Street Lights Residential
6. Carter Apartments
Sale price: $161,400,000
Location: 3300 N. Scottsdale Rd., Scottsdale
Buyer: Kairoi Residential
Seller: Redwood Capital Group
7. Pearl Biltmore
Sale price: $152,000,000
Location: 2323 E. Highland Ave., Phoenix
Buyer: Covenant Capital Group
Seller: Mesirow Financial
8. San Valiente Luxury Homes
Sale price: $142,273,000
Location: 2220 W. Mission Lane, Phoenix
Buyer: Brookfield Properties
Seller: Blackstone
9. Buckeye Tech Corridor (Proposed)
Sale price: $136,069,993
Location: Southwest corner of Johnson Road and I-10, Buckeye
Buyer: Tract
Seller: Equity Land Group
10. The Cubes at Glendale Building B (Amazon Lease)
Sale price: $128,100,000
Location: 15301 W. Northern Ave., Glendale
Buyer: New York State Common Retirement Fund
Seller: Clayco/CRG – more at azbigmedia.com
