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.

LGE Design Build completes Estrella Women’s Health Center

Estrella Women's Health Center
by in AZRE Magazine | Construction

Construction on Estrella Women’s Health Center‘s newest facility, that will help the Center better accommodate the growing need of women’s health care and birthing services in the area, has been complete. The facility is slated to open early this year, and includes 10,351 square feet of space that will help enhance patient privacy and improve staff… Read More →

Report: 2016 Phoenix land sales saw steady improvement

Copyright: wollertz / 123RF Stock Photo
by in AZRE Magazine

The Greater Phoenix housing market maintained its pace of steady improvement in the last six months of 2016, which encouraged an acceleration in land sales. Total land activity was nearly identical to 2015 and projections indicate continued momentum throughout this year, according to a report released by Colliers International in Greater Phoenix. Permitting for both… Read More →

2 Phoenix industrial buildings sell for $4.8M

Phoenix
by in AZRE Magazine | Industrial

Two industrial investment buildings at 3249 & 3259 E. Harbor Dr. were bought for $4.8 million by Tashi G Zouras, Trustee, according to Commercial Properties Inc./CORFAC International. The buildings equaled approximately 42,001 square feet and are located in Southbank Business Center, just off the I-10 and 40th Street. Ron Schooler of CPI’s Investment Specialist Team… Read More →

Deer Valley industrial facility sells for $4.75M

Deer Valley
by in AZRE Magazine | Industrial

A Deer Valley industrial facility sold for $4.75 million to a Los Angeles-based company, according to Cushman & Wakefield. West End Hotel LLC purchased the 36,907-square-foot property at 1733 W. Parkside Lane in Phoenix from Phoenix-based Accutron Real Estate Holdings. Cushman & Wakefield’s Executive Directors Rick Danis, Kent Hanson and Paul Boyle represented the seller. Bob Broyles… Read More →

Lee & Associates negotiates 16,299 SF lease in Midtown Phoenix

Lee & Associates
by in AZRE Magazine | Office

CMOC International recently signed a 7-plus year, 16,299-square-foot office lease at 2600 Tower, 2600 N. Central Ave., Phoenix. Lee & Associates Associate Michael Marsh, Principals Craig Coppola and Andrew Cheney and Associate Gregg Kafka, negotiated the transaction on behalf of CMOC. JLL brokers represented the property ownership, Adler Realty Investments Inc. CMOC International is a worldwide… Read More →

Insignia joins Sperry Commercial Global Affiliates as affiliate

Phoenix
by in AZRE Magazine

Insignia Commercial Real Estate has become the first Phoenix affiliate for Sperry Commercial Global Affiliates. The current Insignia team numbers seven brokers and support personnel with plans to grow to 15 to 20 brokers within the next 12 to 15 months. Neil Sherman, managing director, noted that the firm plans to add a property management… Read More →

Charter school purchases Peoria campus for $6.8M

Charter school
by in AZRE Magazine | Brokerage

Charter School Solutions Sonoran LLC purchased a school campus at 17667 N. 91st Ave. in Peoria for $6,800,000. The site is home to Sonoran Science Academy, which has leased the property since 2014 “This is yet another sale further validating educational based real estate as a defined institutional asset class,” says Todd Noel, executive vice… Read More →

Sanctuary Resort unveils $2M refresh of casitas and suites

Sanctuary Resort
by in AZRE Magazine | Hospitality

The Sanctuary on Camelback Mountain Resort & Spa has finished $2 million in renovations to its Spa Casitas and Spa Suites. The two-year capital investment was conducted in three stages, with the opening of a Spa House last year, and a redesign of the resort’s Mountain Casita accommodations in 2015. Sanctuary’s Spa Casitas surround the resort’s stunning… Read More →

Casa Grande retail center sells for $4.45M

Casa Grande
by in AZRE Magazine | Retail

A two-tenant retail center in Casa Grande sold for $4.45 million to Amir Fateh Amirian by an entity formed by the Hinkson Company LLC, according to CBRE who represented the sellers in the transaction. The 45,327-square-foot retail center is home to a Dollar Tree and Mor Furniture For Less at 1314 E. Florence Blvd., in… Read More →

Un-finished Scottsdale townhome development sells for $1M

Scottsdale Townhome
by in AZRE Magazine | Multi-Family

A townhome development near the heart of Scottsdale was sold for $1,000,000 to Scottsdale-based LNR Holdings LLC, according to ORION Investment Real Estate. The development, located at 70th Street and Earll Drive, contains a home and a duplex, which were vacant at the close of escrow. ORION represented the sellers, 70th St. And Earll Townhomes LLC, and … Read More →

CBIZ Plaza sells in Midtown for $26M

Cushman & Wakefield

A midtown office tower, near Central Avenue and Thomas Road, was sold to Houston-based Riva Ridge Development from Miami-based LNR Property Corporation for $26 million, which included fees assessed by an auction company, according to Cushman & Wakefield. The CBIZ Plaza is located at 3101 and 3111 N. Central Ave. in Phoenix, across the street… Read More →

Desert Ridge Marketplace announces $15M renovation

Main Entrance Rendering
by in AZRE Magazine

Phoenix-based Vestar has commenced the renovation of its shopping center Desert Ridge Marketplace located off Loop 101 and Tatum Boulevard in north Phoenix. The $15 million overhaul is being done with the community, residents and visitors to the area in mind. First opened in 2001, Desert Ridge Marketplace served as the cornerstone in generating the… Read More →

Optima Kierland sales running ahead of projections

kierland
by in AZRE Magazine

The first high-rise luxury condominium tower at Optima Kierland is over 50 percent sold, with the developer’s ability to customize each home, unmatched amenities and desirable location cited as the primary factors in accelerating sales, and helping the community to reach the development milestone ahead of schedule.  More than 115 homes have been sold in… Read More →

North Scottsdale land sold for $7.1 million

North Scottsdale Land
by in AZRE Magazine | Construction

A 4.5-acre land parcel near Scottsdale Road and Princess Boulevard was sold for $7,128,728, according to Lee & Associates. The new owners plan to develop a mixed-use project, including a 300-unit,. 4-story luxury apartment complex, on the land at the southwest corner of Scottsdale road and Chauncey Lane. The mixed-use development also includes a four-building, 33,000-square-foot retail… Read More →

Hotel coming to First and Polk Streets in Downtown Phoenix

Hotel
by in AZRE Magazine | Construction | Hospitality

Development has started on a 210-room, 11-story Hampton Inn & Suites in Downtown Phoenix, near the ASU Downtown Campus, according to an announcement from Mortenson. The hotel is expected to be completed in the summer of 2018, and is located at the intersection of First and Polk Streets. PK Architects and Design Force are the… Read More →