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.

City of Mesa streets get $4.5M improvements

123RF.com, Shao-Chun Wang

The Phoenix office of Skanska has started work on improvements to Broadway Road in Mesa, Ariz., from Power Road to Sossaman Road. The $4.5 million street and utility improvements project for the City of Mesa includes extensive storm drain and potable water upgrades to the existing system, widening an older roadway to accommodate heavier traffic… Read More →

Aspire Real Estate Investments makes first acquisition

Surrounding Area Map, WEB

Aspire Real Estate Investments (Branden Lombardi, Zach Sakas, principals) announced its first acquisition since the formation of the residential land investment focused company, with the successful acquisition of +/- 40 acres of raw land at the northeast corner of Jomax Road and 120th Street in Scottsdale, Arizona. This property is one of the last remaining… Read More →

Ironline Partners bringing Adaptive Reuse Project to Phoenix

Phoenix will soon see new life breathed into a warehouse property in the downtown core. The building, located at 841 E. Jefferson, was recently purchased by Ironline Partners for $3 million. The local developer has plans to convert the property into a modern, relevant space for the right tenant. Kevin Calihan with CBRE’s Phoenix office… Read More →

Buchanan Street Partners closes $34.5M acquisition loan

Fountainhead

Buchanan Street Partners, a national real estate investment management firm, has structured $34.5 million in bridge financing for the acquisition of two Class A office buildings in Tempe, Arizona. Along with its active equity investment platform, the firm is growing its lending activity for mezzanine debt and bridge loans in primary markets in the Western… Read More →

Twin City Hardware leases 26KSF in Phoenix

5670 S 40th Street

Voit Real Estate Services, a  leading  full-service commercial real estate provider serving the Southwestern U.S. market, announced the completion of  a 25,960 square-foot industrial lease by Mike Ciosek and Eric Bell on behalf of Twin City Hardware (TCH) at 5670 S. 40th Street in Phoenix. “TCH is a great family-based company that has been in business… Read More →

Renovation of 12Fifty5 on University apartments complete

MIG Real Estate, a Newport Beach, California-based real estate investment company, is pleased to announce that they have completed renovations at 12Fifty5 On University Apartments in Tempe, Arizona. The community, formerly named Quadrangles Village, has undergone significant improvements to convert the property from conventional apartments to student housing. The 756-bed student housing community is located… Read More →

Renters Warehouse leases 12KSF in Phoenix

7227 N. 16th St.

Commercial Properties, Inc. announced the lease of a 12,199 square foot office space for Renters Warehouse Arizona.  Renters Warehouse will be expanding and relocating to 7227 N. 16th Street in Phoenix.  Scott Nelson of CPI’s Scottsdale Office Group represented the tenant, in this transaction. Renters Warehouse Arizona leased 12,199 SF in the Pointe Business Plaza, a… Read More →

Mark-Taylor, Kitchell open San Sonoma community

The development team of Mark-Taylor and Kitchell have opened the doors to their newest rental community, San Sonoma, an expansive 590-unit community located just southwest of Warner Road and Priest Drive. The “Next Generation” community is another example of why apartment living has become so attractive. “The process of renting an apartment with Mark-Taylor is a lot like… Read More →

Developing Leaders of NAIOP set agenda

NAIOP DLs
March 2, 2015 by in AZRE Magazine | Events | Featured | Networking

The 2015 NAIOP Arizona Developing Leaders’  calendar features educational events, a day at the ballpark and teaming up for Pat’s Run as part of its philanthropic endeavors. Highlights include: • Mix and mingle with the best and brightest young professionals in commercial real estate at the DL spring training game and mixer March 6 at Salt… Read More →

Ground breaks on Arizona Fallen Firefighter Memorial

AZ Fallen Firefighter Memorial

On March 6, ground will break on the first statewide memorial dedicated to the courage and memory of Arizona firefighters and paramedics who gave their lives in service of others.  To date, 105 firefighters and paramedics have lost their lives in Arizona since 1902. Two Arizona sculptors – Rusty Bowers from Mesa and Paul Olesniewicz… Read More →

NGKF awarded listing assignment for future Westgate healthcare campus

Newmark Grubb Knight Frank (www.ngkf.com) has been awarded the exclusive listing assignment for a comprehensive health care campus located off the Loop 101 freeway on the northwest corner of 99th and Glendale avenues in Glendale, Arizona, next to St. Joseph’s Westgate Medical Center. NGKF’s Global Healthcare Services group will represent the developer, 101 West Healthcare… Read More →

Church turns into retail development

February 27, 2015 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has completed the sale of a property located at 5601 E. Broadway Boulevard. The site, formerly home to the Christian Faith Fellowship church, has been slated for retail redevelopment. The property has commanded a sale price of $2.2 million. Nancy McClure and John Ash with CBRE’s Tucson office negotiated the transaction on behalf the… Read More →

Manufactured home community trades for $23.85M

February 26, 2015 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Chaparral Mobile Village, a fully improved, 359-site, all-age manufactured home community in Tempe, Ariz. The investment real estate asset sold for $23,850,000, which equates to $66,435 per space at a 6.25 percent… Read More →

Tablerock Apartments in Flagstaff sell for $14.35M

February 26, 2015 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cushman & Wakefield of Arizona, Inc. has negotiated the $14.35 million sale of Table Rock Apartments, located at 3400 S. Lake Mary Rd. The property, which was built in 1998, contains 100 apartment units in five buildings and was 98 percent occupied at the time of the sale. Virtu Investments of Venice, Calif., sold the… Read More →

OdySea will break ground March 5

McCarthy Building Companies will break ground at 5 p.m. March 5, 2015, on the OdySea Aquarium, which will be located adjacent to Butterfly Wonderland in Scottsdale. The groundbreaking celebration has been organized by OdySea founders Amram Knishinsky, Ph.D., and Martin Pollack and also involves the facility designer Deutsch Architecture Group. Poised to be one of Arizona’s… Read More →