T
he top commercial real estate deals in Metro Phoenix for May 2025 were led by the sale of a luxury multifamily community in Chandler. According to data from Vizzda and AZRE magazine, here are the 10 biggest deals:
1. Zaterra Luxury Apartments sold for $137.5 million at 200 W. Germann Rd., Chandler. The 392-unit complex was purchased by Ares Management from PB Bell Companies.
2. The CORE Scottsdale traded hands for $97.5 million at 15333 N. Hayden Rd., Scottsdale. MC Companies acquired the 282-unit apartment complex from Starlight Investments.
3. Tides on Cave Creek sold for $61.2 million at 12810 N. Cave Creek Rd., Phoenix. Mack Real Estate Group bought the 206-unit apartment complex.
4. Oceana Apartments changed ownership for $53 million at 1700 N. 103rd Ave., Avondale. The buyer and seller were both 29th Street Capital.
5. Phoenix Gateway Center sold for $47.6 million at 410 N. 44th St., Phoenix. Western Alliance Bank acquired the 434,000 SF office complex from Bridge Investment Group Partners.
6. Edgecore Mesa North Data Center Campus (proposed) was purchased for $43.9 million at 9903 E. Elliot Rd., Mesa. The buyer, EdgeCore Digital Infrastructure, acquired 43.87 acres of land from Brookfield Properties.
7. Fountain View Village sold for $39.6 million at 16455 E. Avenue of the Fountains, Fountain Hills. Welltower (formerly Health Care REIT) bought the 244-unit assisted living facility from Focus Healthcare Partners.
8. A large tract of land in Tonopah was sold for $37.5 million. Arizona Land Consulting acquired the 2,075 acres from Avanti Properties Group.
9. The distribution warehouse at 130 S. 83rd Ave., Tolleson changed hands for $36 million. Longpoint purchased the 222,111 SF facility from The Opus Group with Cushman & Wakefield as broker.
10. Phelan Pecos Center I – Building C sold for $29.4 million at 8341 E. Pecos Rd., Mesa. Libitzky Property Companies acquired the 141,117 SF industrial flex space from Phelan Development with Cushman & Wakefield as broker.
