5 biggest commercial real estate deals from February

Article originally posted on AZ Big Media on March 2, 2026

The Heritage Tradition in Sun City West which was ranked as the No. 18 best senior living facility in the nation by Seniorly in its annual Best of Senior Living Awards 2025, was the biggest commercial real estate deal in Metro Phoenix in February 2026. Here are the five biggest commercial real estate deals in Metro Phoenix from February of 2026, according to data collected by the commercial real estate tracking website Vizzda and AZRE magazine.

1. Heritage Tradition

Sale price: $145,000,000

Address: 19303 N. New Tradition Rd., Sun City West

Property description: 306-unit assisted living facility

Buyer: Blackstone

Seller: Senior Resource Group (SRG)

2. The Residences at Stadium Village

Sale price: $87,710,000

Address: 16845 N. Stadium Way, Surprise

Property description: 382-unit, three-story apartment complex

Buyer: AEW Capital Management

Seller: Blackstone

3. Mack Innovation Park II – lots 2 and 3

Sale price: $59,924,000

Address: 19th Avenue and Pinnacle Peak Road, Phoenix

Property description: 51.983 acres of vacant industrial land

Buyer: Mornstair

Seller: Mack Real Estate Group

Broker: CBRE

4. Tierra Santa Apartments

Sale price: $54,056,000 (new auction, loan amount)

Address: 4620 W. McDowell Rd., Phoenix | Phoenix

Property description: 274-unit apartment complex

Lender: Ascendant Capital Partners

Borrower: Tides Equities

5. Phoenix Corporate Center

Sale price: $32,250,000

Address: 3003 N. Central Ave, Phoenix

Property description:

Buyer: Louis Mikhail

Seller: Balfour Pacific

Broker: Newmark