In a blockbuster year for Arizona real estate, 2025 has already delivered three jaw-dropping megadeals—rewriting the record books and redefining the desert skyline. In an analysis of data collected by the commercial real estate tracking website Vizzda and AZRE magazine, three of the 10 biggest commercial real estate deals in Arizona over the last 10 years have happened in 2025.
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1. JW Marriott Phoenix Desert Ridge Resort & Spa
Price: $865,000,000
Close date: June 10, 2025
Location: 5350 E. Marriott Dr., Phoenix
Property: 950-room luxury resort built in 2002
Buyer: Ryman Hospitality Properties
Seller: Trinity Investments
2. Arizona Biltmore
Price: $705,000,000
Close date: May 8, 2024
Location: 2400 E. Missouri Ave., Phoenix
Property: 703-unit hotel/resort
Buyer: Henderson Park
Seller: Blackstone
3. Scottsdale Quarter
Price: $645,100,000
Close date: June 26, 2025
Location: 15015-15323 N. Scottsdale Rd., Scottsdale
Property: 790,000-square-foot mixed-use center
Buyer: FalconEye Ventures
Seller: Washington Prime Group
4. Vaseo Apartment Homes
Price: $325,000,000
Close date: Dec. 15, 2021
Location: 16220 N. 7th St., Phoenix
Property: 1,222-unit apartment complex
Buyer: Jason W. Geer
Seller: Klein Financial Corporation
5. Pacific Proving Technology Campus (planned)
Price: $296,378,800
Close date: March 25, 2025
Location: Signal Butte and Pecos roads, Mesa
Property: 173.5098 acres of land
Buyer: NTT Data
Seller: Levine Investments
Broker: Nathan & Associates
6. Four Seasons Resort Scottsdale at Troon North
Price: $267,800,000
Close date: Dec. 2, 2022
Location: 10600 E. Crescent Moon Drive, Scottsdale
Property: 210-room AAA Five Diamond resor
Buyer: Braemar Hotels & Resorts (REIT)
Seller: Strategic Hotels & Resorts
7. The Moderne – Apartments
Price: $260,000,000
Close date: May 9, 2022
Location: 4848 N. Goldwater Blvd., Scottsdale
Property: 369-unit apartment complex
Buyer: Apartment Management Consultants
Seller: JLB Partners
8. Copperwing Logistics Center
Price: $258,081,239
Close date: May 5, 31, 2024
Location: North Dysart Road and West Northern Parkway, El Mirage
Property: 282.78 acres of vacant industrial land
Buyer: Microsoft Corporation
Seller: Dermody Properties
9. Camelback 303 (proposed)
Price: $255,287,250
Close date: July 5, 2022
Location: Cotton Lane and Bethany Home Road, Glendale
Property: 390.7059 acres of land
Buyer: QTS Data Centers
Seller: First Industrial Realty Trust
10. Del Mar Terrace Apartments
Price: $255,000,000
Close date: Feb. 28, 2022
Location: 7007 W. Indian School Rd., Phoenix
Property: 1,012-unit apartment complex
Buyer: Tides Equities
Seller: Heers Management Company
