As we ring in the new year, let’s look back on the last quarter of 2025. In Q4, Cushman & Wakefield | PICOR completed 100 lease transactions valued at $22.6 million and 26 sales totaling $51.4 million. The top lease was closed by Andrew Keim for a 44,592 SF industrial property, and the top sale was of the Shannon Park Apartments, closed by the Multifamily team Allan Mendelsberg and Joey Martinez for $12,075,000 million.
Andrew Keim, Industrial Specialist, represented the tenant in a 44,592 SF lease renewal at 777 E. MacArthur Circle, Suite 151-161. The industrial space was leased by QED, an electrical supply company serving Arizona and Colorado. The property is located in a well-established industrial corridor with strong access to transportation routes and distribution networks. Industrial properties like this continue to anchor Tucson’s commercial real estate activity, driven by distribution, logistics, and manufacturing users seeking reliable facilities with room to grow.
The quarter’s top sale was Shannon Park Apartments, a 68,476-square-foot, 90-unit multifamily property at 3737 N. Country Club Rd., which sold for $12,075,000. Allan Mendelsberg and Joey Martinez, Principals and Multifamily Specialists, represented the buyer in the transaction. TW Shannon Park LLC acquired the asset, which is situated in Tucson’s north-central corridor, with plans to renovate all units. The property offers one- and two-bedroom floor plans with amenities including a resort-style pool, clubhouse, and convenient access to Campbell Plaza shopping and local restaurants. Strong location fundamentals, proximity to outdoor recreation, and a stable tenant base made Shannon Park an attractive long-term investment in Tucson’s multifamily market.
Throughout 2025, Cushman & Wakefield | PICOR’s quarterly activity reflected diverse demand across industrial, medical, office, retail, and multifamily sectors:
In Q1, Denisse Angulo-Badilla closed the top lease at Parque Industrial Nuevo Nogales for 56,049 SF, while Greg Furrier, Natalie Furrier, and Rob Tomlinson led the sale of Winterhaven Square for $5.4 million.
Q2 saw Alex Demeroutis and Jesse Blum complete the top lease with Alorica for 101,436 SF, and Bryce Horner led the sale of Pain Institute of Southern AZ for $5.5 million.
In Q3, Richard Kleiner and Alexis Corona represented TMC Healthcare in a 77,971 SF medical office lease at El Dorado Medical Campus, and Greg Furrier and Natalie Furrier closed a $5.7 million retail center sale at 9550 E. Golf Links Rd.
We’re looking forward to serving Tucson and Southern Arizona in 2026, and we’re eager to see what’s next for our region.
