Phoenix, AZ (December 16, 2025) — Newmark announces that Keri Scott has joined the Company’s Phoenix office as Senior Managing Director, bringing more than 20 years of combined industrial real estate expertise to the firm’s growing Southwest business.

Scott joins alongside Senior Associate Alex Kas-Marogi, Associates Jack Kerkorian, Adam Pinard and Warren Kelly and Broker Services Specialist Lindsay Davi. The group specializes in agency representation, occupier strategy, investment advisory, and development consulting for a diverse client base ranging from institutional owners to local and national occupiers. Over the past 17 years, Scott has transacted more than 1,200 leases across both Greater Phoenix and national markets.

“We are thrilled to welcome Keri to Newmark,” said Nick DiPaolo, Executive Vice President, Regional Managing Director, Southwest Market Leader. “Her standout leadership, deep market insight and unwavering commitment to client success make her one of the top industrial brokers in the region. This move strengthens our Southwest industrial business and enhances Newmark’s ability to deliver best-in-class service to owners, investors and occupiers across Arizona and beyond.”

Mike Garlick, Executive Managing Director and Market Leader of Newmark’s Phoenix office, added, “With Keri and her team now on board, we have elevated our position in one of the fastest-growing industrial markets in the country. Keri’s experience in small-bay and mid-bay leasing, combined with the office’s data-driven approach, gives us the firepower to advise on Phoenix’s industrial landscape, from Sky Harbor infill to the booming West Valley corridors.”

Phoenix’s industrial market is exhibiting signs of stabilization as total vacancy decreased for the second consecutive quarter, settling at 12.8% during the third quarter of 2025, according to Newmark Research. Speculative construction deliveries are fewer than one year old. At the same time, net absorption in the first three quarters of 2025 was an impressive 15.6 million square feet, placing it second only to Dallas in the U.S. As sublease space diminishes and tenant interest in modern facilities persists, the market is poised to remain stable through 2026.

“I am excited to join Newmark and lead our talented group into this next chapter,” said Scott. “Newmark’s entrepreneurial culture, cutting-edge technology and global capital markets reach align well with our client-first philosophy. Together, we will continue delivering innovative, high-impact solutions for industrial owners and occupiers.”

TUCSON, Arizona (December 16, 2025) — A six-unit casita community near the University of Arizona has sold for $690,000 ($115,000 per unit and $203 PSF). The property, known as Casitas on Bellevue, is located at 3625 E. Bellevue Street in Tucson,  just east of Alvernon Way.

Edwin G. Heacox purchased the boutique multifamily asset, comprising six units: five 1-bedroom/1-bath casitas and one 2-bedroom/1-bath unit. Recent improvements, below-market rents, and the inclusion of rentable garages and storage units made the property a turnkey investment offering. Each unit is equipped with in-unit laundry, and the site benefits from proximity to the University of Arizona and central-city employment centers. The 3,200 square-foot complex was purchased from EA International Holdings, LLC.

Property sold with a 7.43% cap rate.

Cushman & Wakefield | PICOR’s Multi-Family Team, led by Allan Mendelsberg and Joey Martinez, represented the seller in the transaction. Matthieu Smith with Long Realty Company represented the buyer.

Source: RED Comp #12142

TUCSON, AZ (DECEMBER 15, 2025) — The Tucson Lease Report has 16,254 square feet of leasing activity for the week, driven primarily by 12,435 square feet of industrial leases, along with 2,430 square feet of retail renewals and 189 square feet of office leasing. The week’s largest transaction was Base Met Labs US Ltd, which leased 10,995 square feet of industrial space at 546 E. 25th Street, represented by Andrew Keim of Cushman & Wakefield | PICOR. Retail renewals at Sunrise Village Shopping Center accounted for the bulk of retail activity, while a small executive office lease on West Grant Road rounded out the report.

The following leases were reported to the Real Estate Daily News for the week of December 8–12, 2025.

INDUSTRIAL – 546 E. 25TH ST., TUCSON, AZ, 85713, SOUTH SUBMARKET
Base Met Labs US Ltd leased 10,995 square feet of industrial space at 546 E. 25th St. in Tucson from BLW Holdings, LLC. Paul Hooker, SIOR, Principal and Industrial Specialist at Cushman & Wakefield | PICOR, represented the landlord. Andrew Keim, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant.

INDUSTRIAL – 1870 W. PRINCE RD., SUITE 39, TUCSON, AZ, 85705, CENTRAL SUBMARKET
RLF Consulting LLC leased 1,440 square feet of industrial space at Exchange Place, 1870 W. Prince Rd., Suite 39 in Tucson, from Pegasus Tucson Owner, LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

OFFICE – 1955 W. GRANT RD., SUITE E, TUCSON, AZ, 85745, WEST SUBMARKET
MH Esthetics leased 189 square feet of office space at 1955 W. Grant Rd., Executive Suite E in Tucson, from WestGrant Investors, LLC. Molly Mary Gilbert, CCIM, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

RENEWALS

RETAIL – 4764 E. SUNRISE DR., TUCSON, AZ, 85718, NORTHEAST SUBMARKET
Postal Annex renewed its lease for 1,215 square feet of retail space at Sunrise Village Shopping Center, 4764 E. Sunrise Dr. in Tucson. Sunrise Village Investors, LLC is the landlord. Dave Hammack, Principal and Retail Specialist at Cushman & Wakefield | PICOR, represented the landlord.

RETAIL – 4760 E. SUNRISE DR., TUCSON, AZ, 85718, NOTHEAST SUBMARKET
Skyline Nails renewed its lease for 1,215 square feet of retail space at Sunrise Village Shopping Center, 4760 E. Sunrise Dr. in Tucson. Sunrise Village Investors, LLC is the landlord. Dave Hammack, Principal and Retail Specialist at Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – 4500 E. SPEEDWAY BLVD., SUITE 93, TUCSON, AZ, 85712, NORTHEAST SUBMARKET
Albireo Energy LLC renewed its lease for 1,200 square feet of industrial space at Midway Business Park, 4500 E. Speedway Blvd., Suite 93 in Tucson. Pegasus Tucson Owner, LLC is the landlord. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.

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