Author Archives: AZRE

AZRE

About AZRE

Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.

Washington Business Park sells for $11.15M

Washington Business Park

CBRE has completed the sale of Washington Business Park located at 5324-5330 E. Washington St. in Phoenix. The ±139,196-square-foot, four-building business park commanded a sale price of $11.15 million. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, BREOF AIP Phoenix, LLC of Toronto, Ontario, Canada. The buyer was Scottsdale-based CAM-10, LLC,… Read More →

AZRE Magazine January/February 2015

AZRE Digital Issue
January 27, 2015 by in Archives | AZRE Magazine | Featured

Sitting Bulls Arizona’s recovery is a bit hyperopic, compared with other states. However, the resounding chorus of industry experts reveal 2015 holds more of the same, but better! That particular phrasing is from an interview with Newmark Grubb Knight Frank’s Pete Bolton, but the sentiment is the broken record we have been listening to for… Read More →

West-MEC Southwest Campus to break ground Feb. 6

WASH FINAL, Mest Mex, McCarthy, WEB

McCarthy Building Companies recently began a $50 million new construction project, including site plan and infrastructure layout, for Western Maricopa Education Center (West-MEC) in conjunction with architect DLR Group. The West-MEC Southwest Campus project, which will be located at I-10 and Verrado Way in Buckeye, Ariz., will eventually serve 650 students in 12 to 14 different programs (including… Read More →

Prologis sells Phoenix warehouse for $24.25M

5555 W. Lower Buckeye Rd.

Colliers International in Greater Phoenix recently completed the sale of a 486,241-square-foot warehouse in Phoenix for $24.25 million, or $49.87 per square foot. Exeter Property Group, headquartered in suburban Philadelphia, bought the property, at 5555 W. Lower Buckeye Rd., from Prologis Inc., a San Francisco-based REIT. Executive Vice Presidents Don MacWilliam and Payson MacWilliam with… Read More →

Villa De Paz Plaza sells for $1.435M

indian_school, ORION, WEB
January 26, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate announced the sale of Villa De Paz Plaza located 1.5 miles from the Loop 101 on 107th Avenue and Indian School Road.  The plaza is located directly across from Fry’s Grocery Store and other major retailers. Villa De Paz Plaza is a 15,441 total square foot retail center with an additional… Read More →

California investor buys two Surprise office buildings

The Offices at Reems
January 26, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Colliers International in Greater Phoenix recently completed the sale of two office buildings in Surprise, for $2.15 million, or $182.17 a square foot, which are presently leased to One Step Beyond Inc., a nonprofit of Peoria. Richards Family Trust of San Diego purchased the buildings, located at 15527 and 15331 North Reems Road, from Reems… Read More →

Daum negotiates $1.7M industrial sale

819 W. Fairmont, Daum, WEB
January 26, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Daum Commercial Real Estate Services has negotiated the $1.721 million sale of a 27,872-square-foot industrial building located at 819 W. Fairmont Avenue in Phoenix. Rich Sica and Jay Krew with Daum Phoenix represented the seller. Justin LeMaster of Cushman & Wakefield represented the buyer in the transaction. The buyer, SPCLO IV, LLC of Phoenix bought… Read More →

Nelson Brown elected to ABA Board of Directors

ABA logo

The Arizona Builders Alliance welcomed Nelson Brown, president of J.B. Steel, as a newly elected board member of the ABA’s statewide board at the January 2015 board meeting.  J.B. Steel is an AISC certified fabricator and erector of structural and miscellaneous steel servicing Arizona. Nelson earned his Bachelor’s Degree in Chemical Engineering from Rensselaer Polytechnic… Read More →

Matt Nebeker joins Cushman & Wakefield

rsz_cushman&wakefield
January 26, 2015 by in AZRE Magazine | Brokerage | Newsmakers

Matt Nebeker has rejoined the Office Properties Division of Cushman & Wakefield of Arizona, Inc. Nebeker is a 10-year veteran of the Phoenix commercial real estate industry, focusing on East Valley office leasing. He previously worked at Cassidy Turley (now DTZ) and Trammell Crow, and returns to Cushman & Wakefield, where he worked from 2006-2008.… Read More →

Florida investor buys Target, US Bank buildings

TargetTempe, CBRE, WEB

CBRE has completed the sale of two single-tenant net leased investment properties in Tempe, Ariz. The transaction included a free-standing, single-tenant Target and US Bank at the northeast corner of McClintock Drive and Baseline Road. The properties are located on a 10.02-acre corner parcel and commanded a sale price of $11.9 million representing a 5.35… Read More →

SkySong 3 is now 90 percent leased

Plaza-Skysong-3

Two new key tech additions are coming to the newest building in SkySong, The ASU Scottsdale Innovation Center. An information technology solutions firm and an online technology and business library provider are going to call SkySong 3 their new home. Solugenix Corporation is the longest-serving IT consulting firm in the nation, doing pioneering work since… Read More →

Orvieto Investments purchases 4.61 acres in Tucson

123RF.com, Copyright: valeriylebedev
January 26, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Orvieto Investments LLC, owned by Barbara and Tom Mannschreck, has purchased an industrial property located at 3911 Highway Dr. in Tucson, which consists of an office/warehouse building of 10,760 sq. ft. with four additional outlying buildings on 4.61 acres. The facility is leased to Jacobs Field Services, an affiliate of Jacobs Engineering, a New Your… Read More →

Phoenix Heart buys its office building

Talavi, JLL, WEB

In a deal that points to rising corporate confidence, the Phoenix office of JLL has completed a $6.25 million class-A office building sale that brings Phoenix Heart – the anchor tenant at 5859 Talavi – from project tenant to project owner. JLL Senior Vice President Brian Ackerman represented the property seller, Credit Union West, in… Read More →

California company buys Desert Arbor complex

Desert Arbor, CBRE, WEB
January 26, 2015 by in AZRE Magazine | Brokerage

Stardom Apartments, LLC from Woodside, Calif., has purchased Desert Arbor apartment complex, a 73-unit multi-family property located at 725 West Vogel Avenue and 726 West Hatcher Road in Phoenix from Las Salas, INC of Phoenix. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented both buyer and the seller in negotiating the $1.7 million… Read More →

CBRE hires three VPs for Retail Services Group

Administration Officials - Hiring Quotas
January 24, 2015 by in AZRE Magazine | Featured

CBRE has hired Vice Presidents Greg Abbott, Bill Bones and Chris Ryan, three tenured, well-respected commercial real estate professionals, to join the firm’s Retail Services Group in Phoenix, Ariz.  They will partner on a team that will deliver integrated, strategic landlord advisory services including the leasing, acquisition and disposition of retail space in the Phoenix… Read More →