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.

Phoenix industrial markets continue to break ground

Architectural Photography by Michael Baxter, Baxter Imaging LLC

The Phoenix industrial market continued to improve in the first quarter of the year, posting its lowest percentage vacancy (11.8%) since Q1 2008. In that 7-year time period, the Valley’s industrial inventory gained over 32 million SF of warehouse/distribution, manufacturing and flex space. The most recent seven quarters have yielded the most productive net absorption… Read More →

Ben Cooper joins Rose Law Group

ben cooper
April 18, 2015 by in AZRE Magazine | Newsmakers

Scottsdale based Rose Law Group pc recently hired Ben Cooper, an experienced business consultant and former member of the Gilbert Town Council and Vice President of Business Development for the Greater Phoenix Economic Council (GPEC). Cooper joins Rose Law Group as a Senior Project Manager. “It’s an honor to join Jordan Rose and her innovative… Read More →

Big Deals: Land/Sales, March 2015- April 2015

The Wells Mixed Use Site, Maricopa
April 18, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →

Big Deals: Office/Sales, March 2015-April 2015

Fountainhead Corporate Center, Tempe
April 17, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →

Ryan Lang to lead ARA Newmark’s student housing division

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April 17, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

ARA, A Newmark Company (ARA Newmark) recently hired Ryan Lang, a proven top producer in multifamily investment transactions, to lead its student housing division, further positioning the company to capture the sector’s continuing rapid growth. The addition comes after BGC Partners Inc., parent company of Newmark Grubb Knight Frank (NGKF), bought ARA in December 2014.… Read More →

Mike Hammond named to State Transportation Board

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Governor Doug Ducey appointed Michael S. Hammond to the State Transportation Board, representing the Pima County region in the planning and development of Arizona’s transportation network. The seven members of the State Transportation Board serve six-year terms while representing local communities throughout Arizona to prioritize transportation needs, projects and funding. “As someone who has lived… Read More →

De Rito Partners reports recent transactions

Roosevelt Pointe
April 17, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Barbershop opens first Valley location Park Avenue Barbershop completed a lease to open its first location at the northeast corner of 91st Avenue and Union Hills Drive in Peoria. Steve Bonnell represented the landlord in completing the deal for 1,045 square feet. Auto dealer leases former Hummer dealership Mr. Jim’s Deals on Wheels finalized a… Read More →

Spongberg joins CBRE’s Phoenix office as first vice president

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April 17, 2015 by in AZRE Magazine | Featured | Newsmakers

CBRE announced that LeDonna Spongberg, a retail leasing professional, has joined the company’s Phoenix office as a first vice president. Ms. Spongberg comes to CBRE to join regional retail leaders from the United Commercial Realty (UCR) Urban Leasing team. Dallas-based UCR was acquired by CBRE earlier this year. Locally Ms. Spongberg will partner with Vice… Read More →

STORE Capital closes $365M A+ rated securitization

Deloitte Report Reveals Mid-Market Companies Expect U.S. Economic Growth
April 17, 2015 by in AZRE Magazine | Featured

Scottsdale-based STORE Capital Corporation (NYSE: STOR), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, announced today that it has issued $365 million of 7- and 10-year fixed-rate notes designated as STORE Master Funding Net Lease Mortgage Notes, Series 2015-1. This is the sixth note issuance under STORE’s… Read More →

Mike Medici moves to SmithGroupJJR’s corporate leadership team

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Michael L. Medici, AIA, Russell P. Sykes, PE and Troy D. Thompson, AIA will assume managing partner roles for SmithGroupJJR effective May 18, 2015 upon their election by the Board of Directors. The three promotions represent an internal succession process started six years ago, and marks the continued evolution of the culture and organization of… Read More →

SimonCRE team adds Joe Acker to General Counsel

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April 16, 2015 by in AZRE Magazine | Newsmakers

Commercial real estate developer SimonCRE announced the addition of Joe Acker as General Counsel to the thriving SimonCRE team. Joe Acker has built a reputation as an experienced and knowledgeable commercial real estate and corporate transactional attorney. He brings a myriad of skills to SimonCRE including a broad knowledge of real estate law and a tenacious… Read More →

Big Deals: Industrial Sales, March 2015 – April 2015

5555 W. Lower Buckeye Road
April 16, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →

GPE Commercial Advisors sells 9,816 SF Phoenix school

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April 16, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

GPE Commercial Advisors, one of the oldest privately owned commercial real estate firms in Arizona, secured the sale of a 9,816 SF one-story school located at 812 South 6th Avenue in Phoenix. The building sold for $615,000. Executive Vice President, Nicholas A. Pelusio, and Senior Vice President, Kevin Helland represented the seller, Marie Maros Siblings,… Read More →

Intermountain Drilling Supply Corporation renews lease

620 S 80th Avenue
April 15, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the lease renewal of a 31,513 square foot industrial building at 620 South 80th Avenue in Tolleson, Arizona. The 31,513 square foot building is located just off Buckeye Rd and 80thAve. Jeff Hays, Chad Neppl and Ryan Steel represented the tenant, Intermountain Drilling Supply,… Read More →

Irgens leases class A office building in Phoenix to Integra

5055 East Washington

Irgens announced that Integra, one of the largest facilities-based providers of communication and networking services in the western United States, has leased the entire third floor of 5055 E. Washington St. in Phoenix. Integra’s lease of 17,979 square feet leaves just one suite at 1,609 square feet remaining in the Class A multi-tenant office building.… Read More →