Santa Cruz River Apartments

Tucson, Ariz. (October 21, 2025) – CBRE’s Jeff Casper has facilitated the sale of Santa Cruz River Apartments, a 55-unit multifamily community located at 851 West Ajo Way in Tucson, Ariz. The property was acquired by Santa Cruz River LLC for $3.62 million ($65,818 per unit).

Casper represented the seller, A&J Properties Three LLC, in the transaction. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer.

“This sale represents a significant opportunity in a growing area of Tucson,” said Casper, first vice president. “The property, which was a long-term hold for a family office, offers the Buyer a compelling value-add opportunity in a market experiencing strong population growth and expanding retail options. Its location near key employment corridors further enhances its appeal as an attractive investment.”

The four-building community features a mix of studio, one- and two-bedroom units. Built in 1983, select units have undergone renovations with the addition of new cabinets, countertops, vinyl plank flooring, and new appliances, which have been well-received by residents

Situated on 1.5 acres, Santa Cruz River Apartments is located along Interstate 19 (I-19) and offers convenient access to downtown Tucson and I-10.

JLL Capital Markets arranges permanent financing for two premier, open air shopping centers in Chandler

PHOENIX, (Oct. 21, 2025) – JLLCapital Markets announced today that it has arranged $73.25 million in permanent financing for the Chandler Shopping Center Portfolio, consisting of two shopping centers in the Phoenix Suburb of Chandler, Arizona.

JLL represented the borrower, a joint venture managed by a real estate investment trust, in securing the five-year, fixed-rate loans through a national bank. The financing was structured as one loan secured by two mortgages: $51 million for Chandler Festival and $22.25 million for Chandler Gateway.

The Chandler Shopping Center Portfolio encompasses 616,639 square feet of retail along Chandler Blvd. Chandler Festival spans 354,548 square feet and features major tenants including TJ Maxx, Ross Dress For Less, Nordstrom Rack, and PetSmart. Chandler Gateway spans 262,091 square feet and is anchored by Walmart and Hobby Lobby. The properties are situated adjacent to SR-101 and Price Rd, providing strong connectivity to the greater Phoenix metro area with high-volume traffic counts of 177,271 vehicles per day.

Chandler continues to be a highly sought-after retail submarket with only a 4.7% vacancy rate and limited new development. The assets rank in the top 10% of shopping centers nationally for foot traffic, drawing 9.9 million annual visitors combined.

JLL Capital Market’s Debt Advisory team, representing the borrower, was led by President Kevin MacKenzie, Senior Managing Director Jon Mikula, Senior Director Jason Carlos, and Analysts Quin Madden and Tyler Naughten.

“The successful refinancing of the Chandler Shopping Center Portfolio demonstrates the continued strength of well-positioned retail assets in high-barrier-to-entry markets,” said MacKenzie. “These properties’ exceptional occupancy rates, diverse tenant mix and strategic location make them standout performers in today’s retail landscape.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory, or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Tucson, AZ (October 21, 2025) — The 4th Annual DAY OF THE BREAD, a Bread Bazaar and Benefit, will take place at The Monica on Thursday, October 30th, from 6-9 pm. Set each year during The Day of the Dead (el Día de los Muertos) holiday where families welcome back the souls of their deceased relatives for a brief reunion and enjoy food, drink and celebration, the DAY OF THE BREAD event was founded by Chef Carlotta Flores and Ray Flores Jr as both a way to honor the holiday and to give back to the community.

This year’s beneficiary is the UA School Garden Workshop program, which has long been of special interest to the Flores family as it connects students in public schools with Tucson’s agricultural legacy by engaging in hands-on gardening activities.  The program supports and educates kids all over Tucson! School Gardens are one of the best proven methods to build community, teach children amazing life skills, and help feed families. For additional information visit: https://schoolgardens.arizona.edu

Throughout the evening, guests are invited to taste and purchase fresh-baked breads, pastries, and more from an array of local bakeries and bread shops, both big and small. Add in the best cocktails and mocktails, local chefs, live music, and arts, all in the lively, welcoming atmosphere of one of Tucson’s favorite restaurants, and you’ve got the perfect mix of something uniquely Tucson.

Tickets begin at $100 pp ($50 goes to the School Garden Workshop) and can be purchased at https://www.exploretock.com/the-monica-tucson/event/574622/day-of-the-bread. Each ticket includes two beverages and food sampling throughout the evening.

Support for DAY OF THE BREAD is provided by the Tucson City of Gastronomy team, Shamrock Foodservice, Tucson Foodie, Downtown Tucson, and Visit Tucson.