Newmark Arranges $103 Million Office Real Estate Sale of Phoenix Education Partners Campus, Largest in City Since 2022

PHOENIX, Ariz. — June 2, 2026 — Newmark has arranged the $103 million sale of the Phoenix Education Partners Headquarters Campus, a three-building, 599,664-square-foot Class A office complex located at 4025, 4035 and 4045 South Riverpoint Parkway in Phoenix, Arizona. The transaction is the largest office sale in Phoenix since 2022, according to Newmark Research, and reflects continued investor demand for scaled, high-quality assets offering durable income and long-term strategic flexibility.

Deal Details: A Fully Leased Campus on 37 Acres

The campus spans approximately 37.12 acres and comprises one 10-story building and two six-story buildings, all developed in 2008 to serve as the global headquarters of Phoenix Education Partners, Inc. (NYSE: PXED), the parent company of the University of Phoenix. The property is 100% leased to the University of Phoenix under a long-term lease, providing stable, in-place cash flow at the time of sale.

The buyer, described as an undisclosed national developer, was drawn to the combination of secure near-term income and the redevelopment or repositioning potential offered by a 37-acre infill site of this scale. The campus features a parking ratio of 7.7 spaces per 1,000 square feet, supported by two multi-level parking structures and extensive surface parking.

Newmark Executive Managing Directors Barry Gabel, CJ Osbrink and Chris Marchildon, Managing Director Gary Cornish, and Associate Nico Burgarello represented the seller in the transaction. The seller was not disclosed.

Strategic Location and Opportunity Zone Designation

The property sits adjacent to Interstate 10 and is within a 10-minute drive of Downtown Phoenix, Downtown Tempe, and Phoenix Sky Harbor International Airport. The campus is also located within a designated Opportunity Zone, which Newmark cited as a factor enhancing the asset's long-term investment appeal.

"This transaction highlights continued investor appetite for well-located institutional-quality assets that offer both dependable income and meaningful long-term optionality," said Osbrink. "Opportunities to acquire a fully leased campus of this size and quality, particularly with significant underlying land value, in a core infill location are increasingly limited in Phoenix."

Covered Land Strategy

Newmark characterized the sale as a covered land investment — a strategy in which buyers target assets with strong existing cash flow while also recognizing the long-term redevelopment or repositioning potential of the underlying land. The firm noted that its Phoenix investment sales team has advised on a growing number of similar transactions across the region as land constraints and shifting demand drivers reshape the market.

At $103 million across 599,664 square feet, the deal implies a price of approximately $172 per square foot, based on the disclosed transaction price and property size.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm. The firm reported revenues of more than $3.4 billion for the twelve months ended March 31, 2026. As of that date, Newmark and its business partners operated from over 185 offices with more than 9,600 professionals across four continents.

Sources: Newmark Press Release, June 2, 2026