ORO VALLEY (December 16, 2025) — Canada Crossroads, a neighborhood retail center located at 10325 N. La Cañada Drive in Oro Valley, at the southwest corner of La Cañada Drive and Lambert Lane, sold for $5.685 million, reflecting continued investor demand for stabilized retail assets in the Northwest submarket.

The property consists of two buildings totaling 26,348 square feet on 4.25 acres, constructed in 2000. The center sold at approximately $215.77 per square foot, a valuation consistent with well-located strip centers along Oro Valley’s primary commercial corridor. At the time of sale, the center had 16 tenant spaces, two of which were vacant.

The transaction closed on November 12, 2025.

In a separate transaction, a commercial pad located immediately adjacent to the center sold for $925,000 to Glenwood Development Company, positioning the site for future ground-up retail development with a drive-thru component. The pad is located at 10375 N. La Cañada Drive,  at the southwest hard corner of La Cañada Drive and Lambert Lane, and is expected to support a single-tenant retail concept, further enhancing the Canada Crossroads corridor.

The seller, Peregrine Investments II LLC, conveyed both the neighborhood center and the pad in all-cash sales. The buyer of the retail center, Canada Crossroads Baceline, LLC, is a Denver-based private investor managed by Dusty Batsell, highlighting continued out-of-state capital targeting Southern Arizona retail. Glenwood Development Company acquired the pad as a separate transaction earlier, on October 22, 2025.

Both transactions were marketed by Matthews Real Estate Investment Services, with Josh Jenkins and Alex DeSoto representing the seller in both.

Canada Crossroads benefits from strong demographics, long-term residential growth, and proximity to established neighborhoods and employment centers. The dual sale underscores the premium investors and developers continue to place on Oro Valley retail, where limited new supply, stable tenancy, and infill pad opportunities support long-term performance.

For more information, contact Jenkins and DeSoto at 866.889.0550.

Source: RED Comp #12192 and #12161.

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