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.

ORION closes multi-tenant Scottsdale office building

ORION
by in AZRE Magazine | Office

ORION announced the sale of Scottsdale Executive Square, a 29,806 square foot, Class B multi-tenant office. The office building recently sold for $3,540,000. It’s situated on 97,200 square feet, just north of the northeast corner of Scottsdale and Thunderbird Roads, the building has excellent Scottsdale Road frontage with approximately 35,665 vehicles passing per day. Scottsdale Executive… Read More →

PHX Vegan Food Festival coming on Feb. 27

PHX Vegan Food Festival
by in Eat | Experience AZ Magazine

Davisson Entertainment presents the first annual PHX Vegan Food Festival on Saturday, Feb. 27 at the Phoenix Theatre and Phoenix Art Museum campus. The outdoor, family-friendly festival will be held from noon to 5 p.m., with one-hour early entrance for VIP ticket holders. Event highlights include vegan food trucks and restaurants, vegan-friendly food and products, demonstrations and presentations by chefs… Read More →

Apache road retail project approved for construction

construction industry
by in AZRE Magazine | Construction | Retail

Davis Enterprises – Investments & Development received approval from the City of Tempe to begin construction on a retail project at the northeast corner of Rural Road and Lemon Street in Tempe. Located in a high-density area of the city, the 11,800 square-foot project will feature storefront opportunities for 4-5 restaurant or retail users, with Rural Road frontage.… Read More →

Phoenix boutique apartment sells for $1.65M

Boutique apartment
by in AZRE Magazine | Multi-Family

Brian Smuckler and Jeff Seaman of CBRE’s Multifamily Investment Group completed the $1.65 million sale of The Carolina, an 18-unit boutique apartment community in Central Phoenix. The Carolina is located at 512-524 E. Mariposa St. in Central Phoenix. The buyer was KWA Properties Arizona 2 LLC of Seal Beach, California. The seller, Clear Sky Capital II LLC… Read More →

Multifamily Pavilions at Arrowhead sells for $31.6M

sold
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA) announced the $31.6 million sale of The Pavilions at Arrowhead, a 248-unit multifamily community located near 75th Avenue and the Loop 101, a 4,200-acre master-planned community in Glendale. “Operational momentum, supported by excellent submarket fundamentals, has laid the groundwork for the new owner to capitalize on significant loss-to-lease burn-off during the first year of… Read More →

Desert Commercial Advisors announces sales, leases

123rf.com: Vadim Guzhva
by in AZRE Magazine | Brokerage

Desert Commercial Advisors announced its recent sales and leases, totaling $1,515,000 million in sales across the Valley, and 21,915 square-feet worth of leased out space. Sales: Office advisors, Justin Horwitz and Paul Borgesen III sold 8,643 square-feet to Michael Smith, who was represented by SRM Development for $635,000.00. The retail property is located at 2722 N.… Read More →

Fully leased Phoenix Warehouse sells for $1.15M

Phoenix Warehouse
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services negotiated the $1.15 million sale of a 10,792-square-foot 100 percent leased warehouse located at 23042 N. 16th Ln. in Phoenix. Chris Rogers and Trevor McKendry of Daum Phoenix represented both the buyer and seller in the transaction. Bob Lundstedt, first vice president of Daum Phoenix, assisted in representation. The buyer, Hualapai Investments… Read More →

ENVY Residences set for spring completion

Envy Residences
by in AZRE Magazine | Multi-Family

The $47 million ENVY Residences condominium tower in Old Town Scottsdale, near Scottsdale and Camelback Roads is on track to open in late spring. Developed by Deco Communities, the residential project will bring 89 high-end residences to the heart of Scottsdale’s arts, entertainment and nightlife mecca. The building will celebrate its grand opening and welcome the first… Read More →

Irgens completes Harbor Vista Medical Center development

Harbor Vista Medical Center
by in AZRE Magazine | Medical

Irgens announced development completion of shell and core construction for Harbor Vista Medical Commons, the new Cigna Medical Group Sun City Multi-Specialty Center at 9069 W. Thunderbird Ave. The 60,000-square-foot, build-to-suit facility will offer health care delivery services to Cigna Medical Group patients. Scheduled to open for patients in October, project development is meeting Cigna’s… Read More →

Valley Partnership to talk on construction labor

Construction Employment - Welder
by in AZRE Magazine | Construction

Valley Partnership’s topic for its upcoming monthly breakfast on Friday, Feb. 26 will be on the availability of construction labor in Metro Phoenix. The panel will feature Jerry Barnier, Founder, Suntec Concrete; Jeff Eschliman, vice president of Operations of Maracay Homes; Fred Ingersoll, director of apprenticeship & training at Arizona Builders Alliance; and Brad Nelson, project superintendent… Read More →

Phoenix Kindred Transitional Care Center completed

Kindred Transitional Care Center
by in AZRE Magazine | Construction | Medical

The Weitz Company completed the newest Kindred Transitional Care Center located near 19th and Van Buren Streets, making it Kindred’s third transitional center in the Valley. Built near downtown Phoenix at1880 E. Van Buren Street, Kindred is a 120 bed post-acute care facility focused on patient rehabilitation. The facility is a new 3-story, 81,000 square foot structure… Read More →

ARM signs lease for Arizona operations in Chandler

ARM
by in AZRE Magazine | Brokerage | Office

Cushman & Wakefield, a commercial real estate services firm, announced, Monday, that ARM Inc. leased a 13,275 square-foot space for its new Arizona operations at The Park at San Tan in Chandler. ARM, headquartered in Cambridge, England, is a semiconductor intellectual property supplier. ARM licenses intellectual property to a network of partners, which includes the world’s… Read More →

Report: Phoenix construction activity rebounding

Arizona leads nation in Construction Employment
by in AZRE Magazine | Construction

Mortenson Construction released its quarterly Construction Cost Index report, Friday, for Phoenix along with five other metropolitan areas in the U.S. According to the report, after experiencing a dip in late 2014, the Phoenix construction market rebounded in 2015. The report also cites that local, non-residential construction employment continued to show positive growth in 2015, according… Read More →

Construction unemployment rises in January

Bernards & Construction
by in AZRE Magazine | Construction

The U.S. construction industry’s unemployment rate rose to 8.5 percent in January, the highest level since March of 2015, according to an analysis of U.S. Bureau of Labor Statistics data released Friday by Associated Builders and Contractors (ABC). The unemployment rate across all industries shed a tenth of a percentage point and now sits at… Read More →

Alliance Residential launches recruiting campaign

CBRE
by in AZRE Magazine

Multifamily developer and manager, Alliance Residential, is launching a month-long national recruiting campaign, aimed at attracting college students and recent graduates to a career in the apartment industry. “There is so much opportunity in the multifamily realm and, specifically, at Alliance – from property management to investment/development to corporate support, we currently have 240 available… Read More →