ViaWest Group and Barings to develop 808,448-square-foot ReDiscover Logistics Park

PHOENIX, (Nov. 7, 2025) –  JLL Capital Markets announced today it has arranged $107 million in construction financing for ReDiscover Logistics Park, an 808,448-square-foot industrial development located at 2402 W Beardsley Rd. in Phoenix, Arizona.

JLL worked on behalf of the developer, ViaWest Group and Barings, to secure a loan through a life insurance company.

The project encompasses four state-of-the-art industrial buildings located on 43.5 acres in the highly sought-after Deer Valley submarket. It is strategically positioned adjacent to the Loop 101 and Interstate 17 interchange, providing immediate freeway access and unparalleled regional connectivity. The property sits approximately 15 minutes from Taiwan Semiconductor Manufacturing Company’s $165 billion manufacturing facility, positioning it to capitalize on the influx of suppliers and support businesses attracted to the semiconductor hub.

ReDiscover Logistics Park will feature individual building sizes ranging from 189,280 to 212,000 square feet with clear heights of 32 to 36 feet, designed to accommodate a diverse range of manufacturing and distribution tenants. The development incorporates premium building specifications, including flexible space configurations, 200-foot shared truck court depth, FM Global-compliant sprinkler systems, and 980 parking spaces.

Construction has commenced, with project completion anticipated for the first quarter of 2027.

The JLL team was led by Capital Markets President Kevin MacKenzie, Senior Director Jason Carlos and Analyst Lilley Kroll.

“We’re seeing unprecedented demand in the Deer Valley submarket driven by TSMC’s transformational investment and the broader semiconductor supply chain ecosystem it’s creating,” said Carlos. “With no additional development currently under construction in the submarket and active tenant requirements exceeding available vacancy, ReDiscover Logistics Park’s premium specifications and irreplaceable location at the Loop 101 and I-17 interchange make it ideally positioned to serve the next generation of tenants seeking proximity to this critical industrial hub.”

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 (November 7, 2025) — Tucson’s Q3 Office Market Report concluded the quarter with an overall vacancy rate of 10.2%, reflecting stable conditions. Healthcare remained the primary demand driver, with Tucson Medical Center (TMC) accounting for two of the quarter’s largest lease transactions. TMC’s activity included new leases supporting cancer care and other medical services, underscoring the sector’s ongoing role as the leading source of office absorption. Medical leases included 77,971 square feet (sf) at 1400 North Wilmot Road and 30,757 sf at 603 North Wilmot Road.

Submarket dynamics varied. The Foothills and Northwest Tucson continued to demonstrate strong performances, with limited availability contributing to sustained demand. Downtown Tucson, by contrast, experienced relatively stable occupancy with modest leasing momentum. Suburban areas near healthcare hubs demonstrated resilience and continued to be attractive to medical professionals. Construction activity was limited, as the abundance of available space reduced the need for speculative projects.

Average lease rates remained consistent at $24.28 per square foot (psf), with tenant demand continuing to focus on well-located and smaller suites. In comparison, larger contiguous blocks of space are experiencing slower activity. Class A average lease rates were slightly higher at $25.15 psf.

Sales activity was limited as investors remain selective. Transaction volume slowed as high construction and financing costs kept many buyers on the sidelines, with only value-add opportunities attracting interest. 5320 North La Cholla Boulevard was the most notable sale at $1,134.56 psf.

The cost of new construction remains a significant barrier to new projects. Instead, adaptive reuse has become a trend: former call center spaces are increasingly being repurposed for industrial use, reflecting a persistent lack of demand in that segment. Looking ahead, a potential decline in interest rates may improve office investment activity, although no significant near-term absorption gains are expected.

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Los Angeles Investor Purchases Newly Built Luxury Adult Apartments

Phoenix (November 7, 2025) — 55 Resort Scottsdale, a recently completed luxury adult apartment property in Scottsdale, has been sold to a Los Angeles investor for $32.75 million ($321,078 per unit). The development, located at 9449 N. 90th St., is situated within the popular McCormick Ranch master plan community.

“This transaction underscores the exceptional demand for high-quality active adult housing in Scottsdale,” said Matt Roach of Colliers. “Despite being only nine percent occupied at the time of sale, 55 Resort Scottsdale attracted significant investor interest due to its Scottsdale location and the powerful demographic tailwinds driving this asset class.”

DEM, Inc., a Los Angeles-based private real estate investment company focused on acquiring midsize, newly constructed multifamily properties, purchased the property from Dallas-based Velocis Edison McCormick JV, LP. Matt Roach, Chris Roach, Brad Cooke and Cindy Cooke of the Cooke Multifamily Team at Colliers handled the transaction.

55 Resort Scottsdale, completed in 2025, is the first multifamily development to be constructed within McCormick Ranch in the past 30 years. McCormick Ranch, one of Scottsdale’s first master planned communities, is comprised of 4,200 acres and is home to 27,000 residents. The area features 10 scenic lakes, two golf courses and 25 miles of walking/biking paths.

Located near the intersection of Via Linda and 90th Street, the 55 Resort Scottsdale development offers direct access to the Greenbelt, an 11-mile park system that offers year-around recreation. The property is walkable to shopping, dining, and medical providers. The average home price within a one-mile radius of the apartment building is $1,500,000.

55 Resort Scottsdale is a core active adult community with 102 units that average 671 square feet in size. The three-story building is situated on a 2.5-acre site with views of surrounding mountains. Apartments are appointed with modern finishes, including quartz countertops, a tiled shower with a bench, a full-sized washer & dryer, and a private patio/balcony. Designed for affluent, active adults, 55 Resort Scottsdale offers residents an abundance of amenities. These include a resident lounge, community bar, and inviting fireplace within the Club House. A state-of-the-art fitness center, wellness studio, and space for group yoga, fitness, and health-related programs are also on-site. In addition to a resort-style heated pool and spa, the outdoor offerings include a firepit, outdoor lounge areas, and rooftop deck. Residents also benefit from a community library, business center, club room, dog wash station and bike wash. Carports are included for residents, as well as EV charging stations.