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.

50,000 SF manufacturing facility finished in Prescott

Manufacturing facility
by in AZRE Magazine | Construction

A 50,000-square-foot built-to-suit manufacturing facility in Prescott was finished for its occupants, Vinyl Visions LLC, which is relocating from Southern California to the new facility. The two-story facility sits on 3.5 acres and has vinyl extrusion capabilities. Vinyl Visions provides window trim and other products nationwide for the window and door industry. Sun State Builders completed… Read More →

Mesa apartments near Falcon District sell

sold
by in AZRE Magazine | Brokerage

California-based OpenPath Investments purchased Green Leaf Vista, a 98-unit apartment complex in Mesa, from Green Leaf Partners for an undisclosed amount, according to brokerage firm Marcus & Millichap who represented the sellers. The property is located at 3443 E. University Dr. in Mesa, four miles from the Falcon District, a 5,100-acre area composed of more than 10… Read More →

LGE Design Build completes Stone Collection offices, showroom

LGE Design Build
by in AZRE Magazine | Construction

LGE Design Build completed construction on a showroom for The Stone Collection, a wholesaler of natural stone slabs and other premium hard surface materials in Phoenix. The Stone Collection’s new 100,000-square-foot building, located at 4101 S. 38th St. in Phoenix, features a 12,500 square-foot, showroom that includes a dedicated gallery for viewing translucent semi-precious stones, collaborative… Read More →

Purchased land near Mill Ave. planned for high-rise apartments

Downtown
by in AZRE Magazine | Brokerage | Site Selection

An investment firm plans to develop a high-rise apartment project at one of the two plots of land it purchased near Mill Avenue, according to Cushman & Wakefield who represented the sellers in the deal. Core Campus Investment Partners LLC purchased .75 acres at the southeast corner of Seventh Street and Mill Avenue in Tempe, along… Read More →

Tucson retail center to add 3 stores

Copyright: 123kikovic / 123RF Stock Photo
by in AZRE Magazine | Construction

The ground was broken Thursday for a retail project in Tucson, which will include three additional stores at Houghton Town Center near Houghton and Old Vail Roads. Ryan Companies US is the owner, developer and general contractor of the retail project and is partnered with Diamond Ventures to add the three new retail stores. The additions… Read More →

Construction on largest APS solar plant finished

APS Solar Plant
by in AZRE Magazine | Construction

Arizona Public Service‘s (APS) largest solar plant to date was recently completed in Red Rock, Arizona, nearly 40 miles Northwest of Tucson near Interstate 10. McCarthy Building Companies Inc. finished the 40 megawatt, 400-acre solar plant at 25990 E. Camino Adelante Rd., for APS. The plant has 2,286 single-axis trackers supporting 182,880 photovoltaic panels. Construction on… Read More →

Sheila Bale and Ryan O’Connor join Cushman & Wakefield

Sheila Bale and Ryan O'Connor (Photos courtesy of Cushman & Wakefield)
by in AZRE Magazine

Sheila Bale and Ryan O’Connor have left Newmark Grubb Knight Frank, joining Cushman & Wakefield’s office healthcare division as managing director and senior director in the Phoenix office. Together, Bale and O’Connor bring 22 years of experience in the healthcare real estate market. They will be joining Tom Weinhold, managing director of the Phoenix office,… Read More →

Mesa retail center near U.S. 60 sells for $4.55M

Arizona Partners purchased the 30,195-square-foot retail center,  Stonebridge Shopping Center, which was 69 percent occupied at close of escrow.
by in AZRE Magazine | Retail

A 30,195-square-foot Mesa retail center anchored by a Safeway, located at Val Vista Drive and Southern Avenue,  was sold for $4,550,000 by Pac West Land LLC. Arizona Partners purchased Stonebridge Shopping Center, which was 69 percent occupied at close of escrow. Andrew Harrison and Ari Spiro at ORION Investment Real Estate represented both the buyer and… Read More →

Apartments near I-17 in Phoenix sell for $19M

apartments near I-17
by in AZRE Magazine | Multi-Family

Solano Terrace Apartments at 4715 N. Black Canyon Highway was sold to a California investor for $19 million, according to Colliers International. “This property offered a unique opportunity close to the major transportation sources of Interstate 17 and Light rail,” says Bill Hahn, executive vice president with Colliers International in Greater Phoenix. “The community is… Read More →

Bush’s Chicken coming to Old Town Scottsdale area

Bush's Chicken
by in AZRE Magazine | Retail

SimonCRE purchased a retail property located just outside of Old Town Scottsdale at Scottsdale and Thomas Roads, and is leasing the property out to a chicken restaurant. The 4,200-square-foot property was purchased from Astria Realty by SimonCRE for $1,492,460. SimonCRE plans to redevelop the property before its upcoming tenant, Bush’s Chicken moves in this summer. Bush’s Chicken… Read More →

Fully-occupied Paradise Valley medical offices refinanced

Sustainable Banks, Green Banking
by in AZRE Magazine

On behalf of Bayport PV Associated LP, JLL’s Capital Markets completed a $10.5 million refinancing for the Paradise Valley Medical Plaza. Principal Real Estate Investors provided the 10-year, fixed-rate loan for the fully occupied medical office plaza, located in Paradise Valley, Arizona. JLL was able to rate lock in September with an interest rate of… Read More →

HFF expands Phoenix team with hiring of Brad Miner

Brad Miner
by in AZRE Magazine

Holliday Fenoglio Fowler L.P. (HFF) expanded its Phoenix office with the hiring of Brad Miner as a director. Miner will focus on debt and equity placement transactions in Arizona with an emphasis on multi-housing transactions, among other asset classes. Miner has more than 11 years of experience in commercial real estate finance and most recently… Read More →

Roosevelt Row adaptive reuse project names tenants

Roosevelt Row
by in AZRE Magazine

Restaurant concepts from popular local chefs announced plans to move into the a prominent building, currently under renovations and part of an upcoming reuse project, on a popular corner in Downtown Phoenix’s Roosevelt Row Art’s District. Aaron Chamberlin, the restauranteur behind Phoenix Public Market Café and St. Francis, is planning to open up a new restaurant concept on… Read More →

5 myths about renewing your office lease

StartUp PHX Challenge
by in AZRE Magazine | Office

When renewing your office lease, there are some common myths floating around out there. Don’t fall for them. 1. MYTH: We have a great relationship with our landlord or landlord’s broker FACT: The landlord’s objective is to maximize profits and shift economic and non-economic risk to the tenant. The landlord’s advisor has a fiduciary obligation… Read More →

Report: Phoenix office absorption reaches 10-year high

Phoenix
by in AZRE Magazine | Office

Phoenix added millions of square feet of new office space in 2016, and companies filled that space at a near 10-year-high absorption rate, according to the Q4 2016 Phoenix Office Insight report released last week by the Phoenix office of JLL. Collectively, this activity improved the Valley’s office occupancy picture, pushing total vacancy rates down 120 basis points… Read More →