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.

DTZ completes sale of Tharco Freeport Distribution Center

Tharco

DTZ, a global leader in commercial real estate services, announced that Bixby Land Company purchased Tharco Freeport Distribution Center, 640 S. 51st Ave. in Phoenix’s Southwest submarket. Pacifica Real Estate Group sold the 108,287 square foot institutional quality industrial distribution center for $8.1 million. The building is fully leased to Tharco, one of the largest… Read More →

Arrowhead Towne Center to undergo construction in August

Arrowhead Towne Center

Construction of a new transit center at Arrowhead Towne Center in north Glendale is scheduled to begin Aug. 3. The facility, which is scheduled to open in early November, will include new passenger amenities, including shaded bus shelters, free wi-fi, electrical outlets for phone chargers, bus pullouts and landscaping. The current location has no dedicated… Read More →

DTZ sells Camelback office complex for $11.8 Million

Deal, WEB

DTZ, a global leader in commercial real estate services, has announced that Camelback 2929 Owner, LLC, a company formed by Beverly Hills, CA-based Andell Inc., sold 2929 Camelback for $11.8 million. The buyer was West Valley Properties, Inc. of Los Altos, CA. This was the first Arizona purchase for the privately held investor. 2929 Camelback is… Read More →

Big Deals: Land/Sales, July-August 2015

phoenix

It’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from publication based on research compiled by DTZ and Colliers International with CoStar. 1. Paradise Ridge, Phoenix 49.6… Read More →

Wilson Electric & KSK Electric join forces

123RF.com, Copyright: valeriylebedev

As of August 1, 2015, Wilson Electric Services Corp. and KSK Electric Inc. will unite as one. “This is a very exciting event for both companies, our employees and our clients,” states Todd Klimas, Vice President/COO. The joining of two major firms with strengths that are highly complementary will enable the company to provide enhanced experience… Read More →

ABI sells prestigious Morningside Apartment Homes for $28M

Morningside Apartments Pic 1

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, has announced the $28,000,000 / $175,000 Per Unit sale of the 160-unit, Morningside Apartment Homes in Scottsdale, AZ. Morningside, originally built in 1989, features spacious 1, 2 and 3-bedroom units with a weighted average size of approximately 1,019 square feet and full size washer/dryer in… Read More →

P.B. Bell celebrates anniversary of their largest acquisition

PB Bell

P.B. Bell, a leader in multi-family housing development and management, is marking the one-year anniversary of its biggest acquisition by celebrating improved occupancies stemming from the completion of major renovations within the seven-property portfolio. The acquisition, which closed in July of 2014, included nearly 2,800 apartment units in complexes throughout metropolitan Phoenix. The transaction represented… Read More →

ViaWest buys Biltmore Financial Center for $163M

Biltmore Financial Center, Courtesy of CBRE

ViaWest Group recently purchased the Biltmore Financial Center, three Class A office buildings totaling approximately 635,000 square feet at the northwest corner of 24th Street and Camelback in Phoenix, for $163.1 million (or $257 per square foot). The transaction is the largest multi-tenant office sale in the Phoenix area since 2007 and third largest sale… Read More →

Hines completes 60,000 SF lease for Jones, Skelton & Hochuli

Renaissance Square-MAIN

Hines, the international real estate firm, recently completed a 60,000-square-foot long-term lease for Jones, Skelton & Hochuli at its downtown Renaissance Square. The Phoenix-based firm with 80 attorneys and 125 support staff will be relocating from mid-town Phoenix to the new downtown Phoenix location. The law firm specializes in trial practice, insurance law, personal injury… Read More →

Big Deals: Office/Sales, July-August 2015

AMEX Campus, Phoenix

It’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from publication based on research compiled by DTZ and Colliers International with CoStar. 1. AMEX Campus, Phoenix 513,361… Read More →

Colliers completes $6M sale of triple net retail center

Arrowhead Lakes Marketplace

Colliers International in Greater Phoenix recently completed the sale of Arrowhead Lakes Marketplace, a 22,280-square-foot, grocery-anchored retail center for $6 million ($269.30 per square foot). DCL Investments, LLC of Marreno, La., purchased the property, located at 20329 North 59th Avenue in Glendale, from AHR, LLC of Scottsdale. Steve Gonzalez, senior vice president; Marcus Muirhead, vice… Read More →

Big Deals: Industrial/Sales, July–August 2015

JLL_WhiteStar_4x6

It’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from publication based on research compiled by DTZ and Colliers International with CoStar. 1. White Star Portfolio, Phoenix… Read More →

Bahia in Scottsdale Airpark breaks ground

Bahia

Scottsdale-based developer, SAXA, Inc. and Caliber Companies groundbreaking ceremonies were held July 23rd for the new Bahia 101 Class-A Building. This event marks the development of North Scottsdale’s first commercial Class-A building in over 5 years. Planned for 40,000 square feet of space, the new 3-story commercial office building is on a 2.5-acre site, located within Horseman’s… Read More →

Janielle Penner joins Sperry Van Ness

sperry
July 28, 2015 by in AZRE Magazine | Newsmakers

The commercial real estate brokerage of Sperry Van Ness, LLC has announced that Janielle Penner has joined the brokerage as a Junior Advisor.  She will be working closely with industry leader and National Council Chair of Multi-tenant Retail, Shari A. Tucker-Gasser, specializing in retail property acquisitions and disposition, as well as the leasing of multi-tenant… Read More →

AZRE Forum educates a full house

AZRE Forum_DSC_0846

On Thursday, July 23, AZ Big Media hosted the inaugural AZRE Forum at the Ritz-Carlton. It was a meeting of the minds featuring the top producing brokers, most influential economic developers, bankers and developers in the state. The event sold out, with a standing-room only attendance of nearly 350 people. Another 40 people tuned into… Read More →