Equus Capital Partners sells 1.25 million square foot Shallow Bay Industrial Portfolio to Catalyst Real Estate and Everview Partners

TUCSON, Ariz. (Oct. 8, 2026) — Cushman & Wakefield | PICOR, Southern Arizona’s leading commercial real estate firm, is pleased to announce the sale of a 14-property, 1.25 million square foot industrial portfolio in Tucson for $165,750,000, or approximately $133 per square foot, the largest industrial sale on record in Tucson. The seller was Equus Capital Partners, through Pegasus Tucson Owner LLC. The buyers are Catalyst Real Estate and New York-based Everview Partners.

The sale closed on September 28, 2026. It is the largest commercial real estate sale by square footage in the Tucson MSA since 2007 and the largest industrial sale by price on record in the market.

Paul Hooker, SIOR, CCIM, Principal at C&W | PICOR, in conjunction with Cushman & Wakefield’s National Industrial Advisory Group (Will Strong, Michael Matchett, Madeline Warren, Molly Miller, and Jack Stamets), represented both the buyer and seller.

Known as the Tucson Shallow Bay Industrial Portfolio, the sale includes 85 buildings spread across established business parks. Shallow bay buildings are designed for smaller businesses and typically hold several tenants under one roof. The mix of warehouse, office, and flex space in these parks fits a wide range of operations, and at the time of sale the portfolio was 90% leased to 452 tenants, so no single occupant carries it. The parks sit along Tucson’s established industrial corridors, from Forbes Boulevard and Prince Road to Speedway Boulevard and East 29th Street.

The portfolio includes the following properties, with recorded sale prices:

Equus bought the portfolio in October 2021 from Reliance Management (Daryl Burton as Principal) as part of a larger $1.15 billion purchase of industrial properties across Tucson and Phoenix. The 14 Tucson parks traded for about $150 million at that time, according to Real Estate Daily News, which puts this sale roughly $15.75 million, or 10.5%, higher. That figure compares purchase prices only. It does not factor in improvements, income, or costs during Equus’ ownership.

C&W | PICOR has been involved with the portfolio through Equus for the past five years, but its history with the properties goes back more than two decades. It started when Robert C. Glaser, SIOR, CCIM, Principal and Industrial Specialist at C&W | PICOR, became a broker for Daryl Burton, who acquired and repositioned each individual asset throughout this time period.

For more information, contact Paul Hooker, SIOR, CCIM at C&W | PICOR at (520) 546-2704.

 SOURCES:

“Shallow Bay Industrial Portfolio Sold in Tucson for $165.75 Million.” Real Estate Daily News, 1 Oct. 2026, realestatedaily-news.com/shallow-bay-industrial-portfolio-sold-in-tucson-for-165-75-million/.

“Catalyst Real Estate & Everview Partners Acquire 14-Property Industrial Portfolio in Tucson for $165.75M.” Traded, traded.co/deals/arizona/industrial/sale/2015-north-forbes-boulevard/Catalyst. Accessed 5 Oct. 2026.

“More Details on Equus Capital’s Acquisition of Tucson / Phoenix Portfolio for $1.15 Billion.” Real Estate Daily News, 26 Oct. 2021, realestatedaily-news.com/more-details-on-equus-capitals-acquisition-of-tucson-phoenix-portfolio-for-1-15-billion/.

TUCSON, Arizona (Oct. 7, 2026) — GRP 829 W Silverlake LLC, an affiliate of Maryland-based Greenspring Realty Partners, purchased the industrial property at 829 W. Silverlake Road in Tucson for $3,267,000. The investment sale closed September 4, 2026.

The seller was Tucson Silverlake LLC c/o Craig Hughes, member. The buying entity is managed by Dan Flamholz, co-founder of Maryland-based Greenspring Realty Partners.

Greenspring Realty Partners is a family-owned industrial real estate investment firm with offices in Baltimore and Miami. The company specializes in industrial outdoor storage, heavy industrial properties and the acquisition and redevelopment of brownfield sites. According to the firm’s website, it invests its own capital and targets established industrial markets, emerging growth areas and infill locations.

The Silverlake acquisition fits that focus, combining a leased industrial facility with a substantial fenced yard and freeway access. Greenspring already had a Tucson presence, with another leased industrial property on E. Tennessee Street.

The Silverlake property includes two buildings totaling approximately 13,781 square feet on 3.23 acres in Tucson’s south industrial submarket. The purchase price equates to approximately $237 per square foot based on the total building area.

MTM Transit LLC occupies the property under a single-tenant, triple-net lease. The company provides transportation services in partnership with Sun Shuttle Dial-A-Ride.

Improvements include an approximately 11,970-square-foot metal shop constructed in 2014 and an approximately 1,811-square-foot masonry office building dating to 1962. The facility features offices, a reception area, a breakroom and kitchen, approximately 21-foot shop clear height, two grade-level roll-up doors, and a fenced and gated yard.

Located less than half a mile from the Interstate 10 and Interstate 19 interchange, the property provides access to Tucson’s regional transportation network. Marketing materials describe annual rent increases of 3% and potential rental upside when the existing lease expires.

Max Schumacher of Rein & Grossoehme Commercial Real Estate (Phoenix) handled the transaction.

For more information, Schumacher can be reached at 480-214-9403.

Source: RED Comp #12709.

TUCSON, Ariz. (Oct 6, 2026) — Park Avenue Health and Rehabilitation Center, a 200-bed skilled nursing and rehabilitation facility at 2001 N. Park Avenue in central Tucson, sold for $34,315,000 in a transaction that closed September 29, 2026.

Park Villa Corporation of Westlake Village, California, sold the property to 2001 North Park Avenue Health Holdings LLC of San Juan Capistrano, California, Chad Keetch, purchasing manager.

The purchase price equates to approximately $171,575 per licensed bed and $549.78 per building square foot.

Built in 1987, the property contains approximately 62,416 square feet of improvements on 2.26 acres. The acquisition encompasses seven parcels within the Biltmore subdivision, zoned O-3.

Located north of the University of Arizona and west of Banner–University Medical Center Tucson, Park Avenue provides short-term rehabilitation, skilled nursing and long-term care. The facility offers private and semi-private accommodations, with around-the-clock nursing care and an in-house rehabilitation team.

Its therapy services include physical, occupational and speech-language therapy, with individualized treatment plans supporting recovery, mobility and daily living activities. The Arizona Department of Health Services lists the facility’s license as active, with a capacity of 200 beds.

The purchasing entity appears affiliated with The Ensign Group, which already operated the facility through its subsidiaries.