Today’s News 8-1-2025

A $140.2 million West Valley warehouse sale marks the largest single-building industrial transaction in the Valley since 2023, according to data from Costar Group. The building, which encompasses 1,023,610 square feet at 8900 N. Sarival Ave., is where global sportswear brand Puma houses its regional distribution center, along the Loop 303 corridor in Glendale. The sale closed July 29. Global giant LaSalle Investment Management, an independent subsidiary…»

Phoenix-based Banner Health has opened an outpatient surgery center focusing on heart care in the Arcadia area. Called Banner Cardiovascular Center – Arcadia, the new outpatient surgery centers is Banner’s first version of an outpatient model to partner with academic faculty physicians. The 7,142-square-foot space is on the first floor of Banner Health Center Plus – Arcadia, which originally opened in 2023 at 4200 E. Camelback Road. Integrity Building Co. was…»

Location: South Terrace Road and East Orange Street in Tempe. Description: Verve Tempe is a 15-story, 240-unit student housing complex near Arizona State University, light rail and nightlife. The 479,388-square-foot building offers 769 beds with a mix of studio, one-, two-, three- and four-bedroom layouts. It also features a two-story gym, study rooms, rooftop pool and hot tub, golf simulator, lobby coffee bar and more. There will also be 2,030 square feet of…»

More than 100 JCPenney stores, including four in Arizona, will be sold to a Boston private equity firm for $947 million. The all-cash sale of 119 JCPenney properties to an affiliate of Onyx Partners, Ltd. was announced on July 25. The companies expect a Sept. 8 closing of the deal for the net-lease stores, which pay rent and operating expenses. Property management company Newmark and Hilco Real Estate had been seeking buyers for these JCPenney locations…»

A handful of key retail fundamentals are dampening in 2025, as the sector faces noise and headwinds coming from shifting trade policies, as well as rising store fit-out costs, to name just two key factors. Yet, midyear, the retail ecosystem is still adjusting, once again showing its resilient side. While the sector realignment is ongoing, a few primary trends emerge. Here are our top takeaways from Cushman & Wakefield’s second-quarter U.S. retail report…»