Author Archives: 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.

Commercial real estate visionary Rusty Lyon dies

metrocenter, WEB
by in AZRE Magazine

The man behind popular projects such as Scottsdale Fashion Square, Chandler Fashion Square, Biltmore Fashion Park and The Boulders Resort, Rusty Lyon, passed away this month. A Celebration of Life Service is planned for Lyon on Nov. 2 at 2 p.m. at Scottsdale Bible Church at 7601 E. Shea Blvd. in Scottsdale. Lyon served at… Read More →

AAED will discuss Affordable Care Act’s business impact

by in AZRE Magazine | Events

The Affordable Care Act’s impact on healthcare in Arizona will be the topic at the Arizona Association for Economic Development’s (AAED) November luncheon. The AAED event will be held on Nov. 8 from 11:30 a.m. to 1:15 p.m. at 2901 N. Seventh St. in Phoenix. Greg Vigdor, president and CEO of the Arizona Hospital and Healthcare Association,… Read More →

Liberty Property Trust fills nearly finished Rio Salado office

by in AZRE Magazine | Office

Liberty Property Trust today announced that it has executed two new leases, filling its nearly complete 135,663 square foot speculative office building at 1930 West Rio Salado Parkway in Tempe. DriveTime Automotive Group, an existing tenant in 1720 West Rio Salado Parkway at Liberty Center at Rio Salado, will expand into 65,889 square feet of… Read More →

CBRE sells Holiday Inn Express & Suites in Tempe

by in AZRE Magazine

CBRE Hotels announces the sale of the Holiday Inn Express & Suites Phoenix-Tempe-University, a 72-room, limited-service hotel located at 1031 East Apache Boulevard in Tempe, Arizona. The hotel features modern design accents and is within proximity to Arizona State University and the popular Mill Avenue District.  Eric Guerrero, Michael Yu, Rahul Bijlani and Pravin Boteju… Read More →

Marcus & Millichap sells $8.5M apartment community

by in AZRE Magazine

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Aria on Mill, a 76-unit apartment community in Tempe, Arizona. The $8,525,000 sales price equates to more than $112,000 per unit.             “Developed in 1988, Aria on Mill provides new ownership with… Read More →

Western Wealth Capital’s Janet LePage earns honor  Elnur Amikishiyev
by in AZRE Magazine | Multi-Family

Esteemed Champagne House, Veuve Clicquot, has awarded Janet LePage, CEO and co-founder of Western Wealth Capital, with its 2016 New Generation Award. LePage was selected from a shortlist of young entrepreneurs from across Canada. LePage, 35 years old, has grown Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, to the 3rd largest… Read More →

LGE, Revelation Real Estate team up on $5M project

The $5 million mixed-use project planned for Revelation Real Estate broke ground today at 2301 South Stearman Drive, Chandler, AZ 85286.
by in AZRE Magazine | Construction | Mixed-Use | Office

LGE Design Build broke ground today on a massive $5 million mixed-use project for Revelation Real Estate in Chandler. Revelation Real Estate sets the gold standard when it comes to offering top-notch residential properties and employing the Valley’s most award-winning professionals, and LGE Design Build, too, sets the bar when it comes to designing and… Read More →

iBorrow provides $3.9M loan to refinance Mesa builiding

by in AZRE Magazine

iBorrow, a direct lender of private money loans for commercial real estate, has provided a $3.9 million loan to refinance a 40,980-square-foot office building located at 1750-1760 Mesa Drive in Mesa, Arizona.   Built in 1987, the property is a two-story, single-tenant administrative office building which is fully occupied by Fresenius Management Services, a global… Read More →

Camelback Collective will be redeveloped at 28th and Camelback

by in AZRE Magazine

A prominent ±3.62 acre infill, redevelopment site located in the prestigious Camelback Corridor area of Phoenix has sold for $17.475 million, or $111 per sq. ft. of land. The property, located at 2801 and 2845 E. Camelback Road, was acquired by a joint venture of  Las Vegas-based developer LaPour Partners, Inc. and Holualoa Companies, headquartered… Read More →

Valley’s industrial market remains red hot

New York Life Insurance Company

The Metro Phoenix industrial market remains strong through the third quarter of 2016, recording a vacancy rate of 9.3%, according to the third quarter industrial report released by Cushman & Wakefield. Fifteen of the 17 defined submarkets have experienced improvements in overall vacancy rates since Q3 2015. The Southwest Phoenix saw a decrease in vacancy, finishing… Read More →

Adaptive reuse project revitalizes Roosevelt Row Arts District

The Blocks at Roosevelt Row (Photo courtesy of Desert Viking)

A NEW DOWNTOWN PROJECT MERGES CHEF-DRIVEN DINING, ARTISAN RETAILERS AND WORKING ARTIST STUDIOS AND GALLERIES TOGETHER IN ONE COLLECTIVE SPACE ~The Blocks of Roosevelt Row Indulges Guests with a Place to Connect, Create and Collaborate~ Desert Viking Development is thrilled to announce a new project underway revitalizing a portion of the Downtown Phoenix’s beloved Roosevelt… Read More →

Take a Look: Oscar’s New Space at The Circuit

(Photos courtesy of Ryan Wilson Photography)
by in AZRE Magazine | New to Market | Office

Insurance company moves in this month to true adaptive re-use project New York-based insurance company Oscar has officially moved into The Circuit in Tempe, and is gearing up to take full advantage of its 90,000 square feet of true creative office space. The Circuit was purchased and redeveloped in 2014 by a joint venture between EverWest… Read More →

Camelback Corridor redevelopment property sells for $17M

Camelback Collective rendering (Courtesy of CBRE)

Obsolete Office Project Slated for Redevelopment into High-end Mixed-use Project  A prominent ±3.62 acre infill, redevelopment site located in the prestigious Camelback Corridor area of Phoenix has sold for $17.475 million, or $111 per sq. ft. of land. The property, located at 2801 and 2845 E. Camelback Road, was acquired by a joint venture of… Read More →

ASU breaks ground on $120M Biodesign C Research Building

(Rendering courtesy of McCarthy Buildings Companies)

McCarthy Building Companies recently broke ground on the new $120 million Biodesign C Research Building, the third building in ASU’s Biodesign Institute complex at Arizona State University. The new research facility will include five stories plus a basement and will be located on ASU’s main campus in Tempe, Ariz., adjacent to the ASU Biodesign B building.… Read More →

Cresa’s Ashley Snyder named to IAMC board

Ashley Snyder, Senior Vice President of Cresa. Photo by David Williams.
by in AZRE Magazine | Newsmakers

The Industrial Asset Management Council (IAMC) announced on Tuesday that Ashley Snyder, Senior Vice President of Cresa, has been elected to the IAMC board of directors. Jennifer Roth, Senior Manager, Real Estate at Bimbo Bakeries USA, Inc, and Don Hansen, Sr. Director of Real Estate and Development at W.W. Grainger were also elected to the… Read More →