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.

Westlake Reed Leskosky promotes well deserved staff

April 25, 2015 by in AZRE Magazine | Blogs | Newsmakers

In its 111th year of operation, Westlake Reed Leskosky continues its tradition of design and technical excellence led by its talented and dedicated staff.  In recognition of outstanding performance and contributions that enhance the firm’s fully integrated services and thought leadership, Westlake Reed Leskosky promoted the following individuals: Shawn P. Carr, PE to Principal, Director… Read More →

Irgens opens Portico Place II in Chandler

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Irgens officially opened Portico Place II, a 48,173 sf, two-story, Class A multi-tenant office building located at 2195 West Chandler Boulevard in Chandler, Arizona. Designed and developed to meet the growing demand for contemporary office space in the Southeast Valley, Portico Place II is the first speculative, multi-tenant office building of similar size developed in… Read More →

Clear Sky Capital purchases Gilbert

The Vintage

DTZ announced today that Clear Sky Vintage, LP (Clear Sky Capital, Marcus Kurschat – principal) purchased The Vintage, a 106-unit apartment community at 1303 West Juniper Avenue in Gilbert, AZ, for $14.25 million ($134,434 per unit). The seller was Vintage Gilbert, LLC (Matt and Sam Blank, Darryl Berger, Rustin Randal – principals). DTZ Executive Managing… Read More →

Helix acquires new Sonoran Corporate Center

Sonoran Corporate Center Building 5
April 24, 2015 by in AZRE Magazine | Brokerage

Helix, an Arizona-based commercial real estate Investment, Development, Brokerage and Management Company, recently acquired another Scottsdale commercial property, Sonoran Corporate Center Building 5, for $3.93 million. Located at Princess and Hartford Drive, in Scottsdale, Sonoran Corporate Center includes a 21,064 square foot building. Helix will be converting much of the building to medical and corporate… Read More →

Black Rock RV Resort sells for nearly $4M

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The sale of the Black Rock RV Village located at 46751 E. Highway 60 in Brenda, AZ (near Quartzsite) sold April 2, 2015 for $3,925,000 to a California private investment firm.  John Grant and John Sheedy with Park Brokerage Inc. represented the buyer and the seller on the transaction. Black Rock is a winter, snowbird RV… Read More →

Crown on 7th adds eateries and retail

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The former Crown Imports building on 7th St., between Missouri and Bethany Home in Central Phoenix, is getting a major facelift. Dan Noma, Jr., principal of Venture REI, has joined real estate development veterans Buzz Gosnell and Niels Kreipke in investing $6 million to redevelop the mixed-use project. The project will be renamed Crown on 7th and… Read More →

State Farm building sells for more than $22.9M

Four Gateway

CBRE has recently completed the sale of Gateway Four, a 137,069-square-foot, single-tenant office building, located at 444 N. 44th Street in Phoenix. The property is fully leased to State Farm Insurance and commanded a sale price of more than $22.9 million. Tom Adelson and Jim Fijan with CBRE’s Phoenix office negotiated the sale. The buyer… Read More →

Big Deals: Multi-family/Sales, March 2015-April 2015

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April 22, 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 →

Kristie Jones appointed new role at GPE Management

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April 22, 2015 by in AZRE Magazine | Newsmakers

GPE Management Services announced the appointment of Kristie Jones as designated broker. In this new role and as director of operations, she will ensure GPE runs smoothly and is compliant with all real estate regulations.  In addition to being involved in company decisions and strategic planning, Kristie establishes and monitors corporate as well as property… Read More →

Verrado District Core sells for more than $13M

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April 22, 2015 by in AZRE Magazine | Featured | In The Spotlight

CBRE has completed the sale of the Verrado Main Street located in the master planned community of Verrado in Buckeye, Ariz. The investment sale consisted of the ±66,085-square-foot, mixed-use office and retail commercial core and an additional 6.88 acres of land. The assets commanded a sale price of more than $13.02 million. Barry Gabel and… Read More →

Ideation Design Group awarded work on Sheraton Mesa Hotel

Sheraton Mesa Lobby Rendering
April 21, 2015 by in After Hours | AZRE Magazine

The Arizona-based resort development firm Power Hotel Group, working with Starwood Hotels, selected Phoenix-based Ideation Design Group (IDG) to design the Valley’s newest Sheraton project. The four-story 160,000+ square foot hotel is nestled between the new Chicago Cubs’ spring training facility and Riverview Park in Mesa, Arizona, near Rio Salado Parkway and Dobson Road. The… Read More →

Medtail trends for neighborhood shopping centers

ChandlerPlaza

The Metropolitan Phoenix retail market continues its recovery, as noted in a recent report from CBRE Phoenix Research. With vacancy under 10 percent for the first time in seven years, demand for space is beginning to reflect that of pre-recession levels. However, while a sense of normalcy is slowly returning to the market, real estate… Read More →

$165M for LPC-Phoenix in 60 days

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Office investment and management expert Lincoln Property Company (LPC) and funds managed by Oaktree Capital Management, L.P. (Oaktree) have completed the $58 million purchase of Biltmore Commerce Center, a Class A, institutional-quality office building located in the heart of Phoenix’s coveted Camelback Corridor. The acquisition represents LPC’s second transaction in a partnership with Oaktree that has generated… Read More →

Gee Gee Entz joins Cresa Phoenix as a Senior Vice President

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April 20, 2015 by in AZRE Magazine | Newsmakers

Gee Gee Entz brings over 28 years of experience in commercial real estate, specializing in office tenant representation to Cresa Pheonix. Prior to joining Cresa, Ms. Entz worked at Heiple Travers Realty as a Senior Vice President and was consistently ranked among the top producers during her tenure Commitment to achieving the highest and best… Read More →

HSL acquires 44 Monroe in downtown Phoenix

Multi-Family Market - AZRE Magazine July/August 2011

HSL 44 Monroe, LLC, purchased a $50.65 million controlling interest in 44 Monroe, Arizona’s tallest luxury residential tower. Located at 44 Monroe on the northeast corner of 1st Avenue and E. Monroe Street, the property is located in the heart of the downtown Phoenix financial district. HSL purchased 184 condominium units in the 198-unit tower.… Read More →