Phoenix, Ariz., September 22, 2026 – Phoenix Commercial Advisors facilitated the sale of Shake Shack, a newly built, single-tenant restaurant property. The property, located on the northeast corner of 99th Avenue and McDowell Road in Phoenix, sold for $3,900,000, or $1,083.33 per square foot.

A rising project in downtown Gilbert announced Tuesday a handful of new restaurant tenants.

The U.S. commercial real estate recovery is following markedly different paths across property sectors and markets, Integra Realty Resources (IRR) said in its newly released 2026 Mid-Year Viewpoint Report. More than 90% of retail markets surveyed are in recovery or expansion, while office markets remain evenly divided between recovery and recession.