Historically, when the conversation centers around summer blockbusters, it’s in reference to hit movies. But this season, the stars of the show have been the blockbuster commercial real estate deals that created more heat than the Phoenix summer. According to the commercial real estate tracking website Vizzda, there were at least 14 summer blockbuster deals that surpassed $100 million in Metro Phoenix.
Here are the biggest commercial real estate deals of summer 2021 in Metro Phoenix. These are deals that closed between June 21, 2021, and Sept. 21, 2021.
READ ALSO: Here’s NAIOP members’ commercial real estate outlook for 2022
1. Park 303 Phase I — $186,000,000
Type of property: Industrial
Location: Glendale
Seller: LPC Desert West
Buyer: BentallGreenOak
2. Tradition at Kierland — $159,000,000
Type of property: Multifamily
Location: Scottsdale
Seller: Bascom Group
Buyer: First Pointe Management Group/Ezralow Company
3. Legend at Kierland Apartments — $153,500,000
Type of property: Multifamily
Location: Phoenix
Seller: Bascom Group
Buyer: First Pointe Management Group/Ezralow Company
4. The District at Scottsdale — $150,500,000
Type of property: Multifamily
Location: Scottsdale
Seller: F & B Capital and Bluerock Real Estate
Buyer: Kohlberg Kravis Roberts & Co.
5. Strada Apartments — $136,100,000
Type of property: Multifamily
Location: Tempe
Seller: Blackstone
Buyer: Knightvest Capital and LEM Capital
6. The Scottsdale Grand — $130,000,000
Type of property: Multifamily
Location: Scottsdale
Seller: Kaplan Companies
Buyer: Oxford Properties
7. The Stewart Apartments — $125,500,000
Type of property: Multifamily
Location: Phoenix
Seller: Aspirant Development
Buyer: New York Life Investment Management
(tie) 8. Former Chrysler Proving Grounds — $125,000,000
Type of property: 5,458 acres of land
Location: Wittmann
Seller: iStar
Buyer: A Delaware-based entity managed by Greenberg Traurig
(tie) 8. ParcLand Crossing — $125,000,000
Type of property: Multifamily
Location: Chandler
Seller: Private Portfolio Group
Buyer: Sunroad Enterprises
10. Arrowhead Summit — $123,600,000
Type of property: Multifamily
Location: Glendale
Seller: Cortland
Buyer: Blackstone
11. Eastmark land — $123,184,182.71
Type of property: 388.95 acres of land
Location: Mesa
Seller: DMB Associates and Brookfield Residential
Buyer: An entity managed by Quarles & Brady
12. Broadstone Grand — $106,500,000
Type of property: Multifamily
Location: Tempe
Seller: Alliance Residential Co. and Appian Capital
Buyer: Decron Properties
13. Sky Ancala Apartments — $104,500,000
Type of property: Multifamily
Location: Scottsdale
Seller: The Ergas Group
Buyer: Benedict Canyon Equities
14. Lincoln Logistics Center 40 — $103,214,650
Type of property: Industrial
Location: Goodyear
Seller: Nike
Buyer: American Realty Advisors
