Record Transactions Transform Arizona’s Real Estate Market

Phoenix, Arizona – A Historic Year for Real Estate

In 2025, Arizona’s real estate market has experienced an unprecedented surge with three of the ten largest commercial real estate deals occurring within the past decade. As a result, the year is being hailed as a “blockbuster” for the state’s real estate landscape, reshaping the skyline and attracting significant attention from investors.

Record-Breaking Transactions

The largest real estate deal in Arizona this year involved the purchase of a luxury resort, a transaction that has set a new standard for high-value acquisitions in the region. The property, located at 5350 E. Marriott Dr. in Phoenix, was sold for $865,000,000 to Ryman Hospitality Properties. This opulent 950-room luxury resort, originally built in 2002, closed on June 10, 2025.

Following this significant transaction, the second notable sale was for a hotel/resort that closed on May 8, 2024. Located at 2400 E. Missouri Ave. in Phoenix, this property comprises 703 units and was sold for $705,000,000 to Henderson Park, previously owned by Blackstone.

The third major transaction occurred on June 26, 2025, involving a large mixed-use center located at 15015-15323 N. Scottsdale Rd. in Scottsdale. This property spans 790,000 square feet and was purchased by FalconEye Ventures for $645,100,000, with Washington Prime Group serving as the seller.

Recent Notable Transactions

Aside from the record-breaking deals in 2025, several other significant transactions have shaped Arizona’s real estate market in recent years. For instance, on December 15, 2021, a 1,222-unit apartment complex located at 16220 N. 7th St. in Phoenix was sold for $325,000,000 by Klein Financial Corporation to Jason W. Geer.

Further, a substantial land acreage deal took place on March 25, 2025, when NTT Data acquired 173.5098 acres of land at Signal Butte and Pecos roads in Mesa for $296,378,800, purchased from Levine Investments.

Other notable transactions include the sale of a 210-room AAA Five Diamond resort in Scottsdale for $267,800,000 on December 2, 2022, orchestrated between Braemar Hotels & Resorts and Strategic Hotels & Resorts. Additionally, Apartment Management Consultants purchased a 369-unit apartment complex in Scottsdale for $260,000,000 on May 9, 2022.

Additions to Arizona’s Real Estate Landscape

The influx of investments extends beyond luxury and mixed-use properties. Leading technology companies such as Microsoft Corporation and QTS Data Centers have also made significant purchases in vacant land and industrial properties throughout Arizona. The involvement of such major players further emphasizes the robust nature of the real estate market and its ongoing potential for growth.

Conclusion

With record-breaking transactions and continued interest from significant investors, Arizona’s real estate market in 2025 is setting a remarkable precedent. The state’s diverse range of properties, coupled with the willingness of buyers to invest at unprecedented levels, illustrates a thriving market that shows no signs of slowing down. As properties transform and evolve, Arizona’s skyline stands as a testimony to the dynamic real estate landscape that attracts both national and international interest.