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.

Tempe office warehouse building trades at $3.3 Million

tempe

A 33,400 SF warehouse at 1917-1965 W. First St., in Tempe near Rio Salado Pkwy. and Priest Dr. sold for $3,316,010 or $99.28 per square foot in an all-cash deal. Rick Robertson, Principal with Lee & Associates represented both the buyer and seller in this transaction. The buyer was Danari Temple, LLC an investment partnership… Read More →

De Rito Partners announce recent commercial transactions

123rf.com: feverpitched

Jamba Juice joins Shops at Norterra Jamba Juice finalized a deal to add a new location in North Phoenix, at the northwest corner of Happy Valley Road and Norterra Parkway. John Palmieri represented the tenant in completing the lease of the 1,057-square-foot space. Sonoran Cycles joins new mixed-use development in Surprise Sonoran Cycles signed a… Read More →

Zenefits continues rapid growth with new Tempe office building

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Zenefits, the free, cloud-based human resources technology company that automates and eliminates HR administrative work for businesses, has announced that due to its rapid growth and hiring it has signed a 10-year lease for a large, new office in Tempe, which will be its second office site in greater Phoenix. The San Francisco-headquartered company will… Read More →

Alliance Residential named “Top Companies to Work For”

123rf.com:  Elnur Amikishiyev

Alliance Residential, the largest multifamily developer and seventh largest multifamily manager in the nation, has been named one of CareerBuilder’s Top Companies to Work for in Arizona by Republic Media (The Arizona Republic, azcentral.com, La Voz) and CareerBuilder. This is Alliance’s second year on the annual listing. Companies are evaluated and selected based on a combination… Read More →

$7M JLL Hangar sale shows Phoenix aerospace is flying high

hangars

The Phoenix office of JLL has closed the $7 million sale of The Hangars at 5615, a major, state-of-the-art office and hangar facility with direct runway access to Phoenix Mesa-Gateway Airport, the hub of Phoenix’s up-and-coming aerospace corridor. Although the property is currently 100 percent vacant, it is being acquired by an investor with an expected commitment for… Read More →

SimonCRE purchases retail building from Los Olivos Norte

LosOlivos__SimonCRE

Commercial real estate developer SimonCRE purchases a +/- 7,000 SF retail building from a popular Scottsdale restaurant located within the Sonora Village Shopping Center. The building is located at 15544 N. Pima Road in Scottsdale, just off Frank Lloyd Wright and the Loop 101 in Scottsdale, AZ. After nearly 20 successful years in business, Los… Read More →

Capital One provides an $11.9 million Freddie Mac loan

housing.prices

Capital One has announced that it has provided an $11.9 million Freddie Mac fixed-rate loan to refinance Catalina Village, a 376-space, all-age manufactured housing community (MHC) in Phoenix, Arizona. Damon Reed, Senior Vice President and Capital One’s Director of MHC Finance, originated the transaction. The key principal is a repeat customer of both Capital One and… Read More →

Gila River Indian Community files lawsuit against FHA/ADOT

Tribes Pursue Retail Projects

The Gila River Indian Community (the “Community”) filed a lawsuit today challenging the recent decision by the Federal Highway Administration and the Arizona Department of Transportation to build the South Mountain Freeway along a path that borders the Community and that runs directly through the South Mountain, land that is sacred to Community members. According… Read More →

Ryan Companies and Group Health Cooperative break ground

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Officials from Group Health Cooperative, Ryan Companies US, Inc., and the city of Renton broke ground for their new operations facility in Renton, Washington. Renton Mayor Denis Law joined Group Health President and CEO Scott Armstrong and Ryan Companies US President and CEO Pat Ryan to mark the beginning of the construction project. “Group Health… Read More →

Monster Paint FX relocates to Avondale

Monster Paint FX
June 30, 2015 by in AZRE Magazine | Brokerage | New to Market | Retail

Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease for the relocation of Monster Paint FX to 1422 N. Eliseo C. Felix Jr. Way. The lease is for 13,230 square feet. Monster Paint FX, which previously was at 7115 N. 110th Ave. in Glendale, is a locally owned company that provides custom auto body… Read More →

C & W | PICOR recent transactions: June 25, 2015

4011 E. Columbia
June 29, 2015 by in AZRE Magazine | Brokerage | New to Market

SALE GMSK Properties, LLC purchased a retail pad at the southeast corner of Mission and Irvington Roads in Tucson from Charford, Inc. for $150,000.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the buyer and the seller in this transaction. Magee Marquez, LLC purchased a 1,271 square foot office building at 2292… Read More →

SimonCRE adds Peter Krahenbuhl as Project Manager

123rf.com: inq
June 28, 2015 by in AZRE Magazine | Newsmakers

Commercial real estate developer SimonCRE added Peter Krahenbuhl as Project Manager to assist with the development responsibilities of SimonCRE’s growing portfolio of projects. SimonCRE currently has over 50 projects in the pipeline valued at over $100 Million, creating thousands of jobs across the country. Krahenbuhl will work closely with the Vice President of Development coordinating… Read More →

Hines commences construction at Chandler Viridian

Chandler Viridian, CBRE

Hines, the international real estate firm, has commenced construction on the infrastructure at Chandler Viridian and is moving forward with the design of the Class-A, six-story office building for the mixed-use property’s master plan development. Chandler Viridian, located at the northwest corner of the Loop 101/Loop 202 interchange in the heart of the Price Corridor… Read More →

Cushman & Wakefield settles Dept. of Child Services lease

Mesa
June 27, 2015 by in AZRE Magazine | Blogs | Brokerage | Site Selection

Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease for the Arizona Department of Child Safety (DCS) at Mesa Financial Plaza, 1201 S. Alma School Road. The lease, for 46,401 square feet spanning 2 1/2 floors, is new operating office space for DCS. Mesa Financial Plaza, a 16-story high-rise office tower, was built in… Read More →

VCU dean selected as NAU Provost

provost
June 26, 2015 by in AZ Business Magazine | Education

James Coleman, dean of the College of Humanities and Sciences at Virginia Commonwealth University, has been selected as the university’s next provost, President Rita Cheng announced. “Jim’s broad background crosses multiple disciplines and his research focus makes him an excellent fit for provost. Perhaps more important, he shares our passion for transforming the lives of our students… Read More →