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.

Caution: Low-Flying Aircraft Policies

low flying aircraft
October 22, 2014 by in AZRE Magazine | Blogs | Featured

The Federal Aviation Administration (FAA) is considering a significant reduction in the maximum height limit of buildings near U.S. airports to ensure aircraft have clearance to continue an ascent in the unlikely event that an engine fails at takeoff. The proposed policy would limit building heights of new commercial projects within 10,000 feet of the… Read More →

Sundt to build temporary lodging at Luke AFB

Courtesy of Sundt

The U.S. Air Force 56th Contracting Squadron recently selected Sundt Construction, Inc. as the general contractor for a new temporary lodging facility at Luke Air Force Base in Glendale, Ariz. The $8.9 million, 42,000-square-foot project includes construction of four single-story lodging facilities with 28 units, providing Air Force personnel with short-term, quality housing accommodations as… Read More →

Silencing The Impact Fee

Silencing The Impact Fee
October 22, 2014 by in AZRE Magazine | Featured

In 2011, the legislature modified the development “impact” fee laws. First, a little “Impact Fees 101.” Arizona has the policy “new growth pays for itself.” When a developer wants to build a project, the city requires that the developer pay fees for the municipal infrastructure to service the project. Infrastructure includes “hard costs,” sewer lines,… Read More →

BOMA Greater Phoenix hosts inaugural industrial summit

LBAPhxIndustrial, WEB

The industrial market is hot, leading the way for both investment and development prospects in 2014 with expected prospects rising to almost the same level as the apartment sector last year. BOMA International is partnering with BOMA/Greater Phoenix to present its first Industrial Summit on Nov. 5 at the Renaissance Hotel Downtown Phoenix, 50 E.… Read More →

An Osha Takeover

man-falling-off-ladder
October 22, 2014 by in AZRE Magazine | Featured

Members of the Arizona State Legislature ground their way to final adjournment of the 2014 Legislative session in late April. As always, next year’s state budget was the driving force of the entire process. During the last few weeks of the session, about 300 bills were stacked in an intentional logjam created in both chambers.… Read More →

Leasing the sun

Mark Covington
Executive Director
Building Owners
Management Association of Greater Phoenix
October 22, 2014 by in AZRE Magazine | Blogs | Featured

BOMA Greater Phoenix has been working toward the efficiency and sustainability of its members and other commercial buildings for many years. Its Kilowatt Krackdown energy benchmarking and tuning program has engaged almost 500 commercial buildings in the Valley of the Sun since 2009 and has helped Phoenix to grow from No. 23 on the list… Read More →

Tuft & Needle relocates to Phoenix’s warehouse district

605 E. Grant, Tuft and Needle, CushWake, WEB

Tuft & Needle, a startup mattress company, is relocating its headquarters to the Levine Machine Building in Downtown Phoenix’s warehouse district. Cushman & Wakefield of Arizona, Inc. negotiated a 5-year lease as Tuft & Needle relocates from Tempe to a 5,100-square foot facility at 605 E. Grant St. Tuft & Needle designs and manufactures a… Read More →

Phoenix Rising Investments starts Centrica redevelopment in Mesa

Centrica, Courtesy of Cushman & Wakefield

Phoenix Rising Investments, LLC has begun redevelopment on Centrica, an up to 140KSF, class-A office building at 1550 W. Southern Ave. The adaptive re-use project located near the US 60/Loop 101 interchange in the Southeast Valley will turn three former big-box retail stores into an ideal location for companies seeking modern office space that offers… Read More →

Scott Kreitlein joins SmithGroupJJR

Scott Kreitlan, SmithGroupJJR
October 22, 2014 by in Architecture | AZRE Magazine | Newsmakers

SmithGroupJJR has hired  Scott Kreitlein, AIA, LEED AP, as leader of the Science & Technology Studio at its Phoenix office. He joins SmithGroupJJR from HDR, Houston, where he was science & technology principal. Kreitlein, a 20-year architecture veteran, is recognized for his expertise in the design and planning of biocontainment and animal holding facilities, a… Read More →

AFI-USA sells downtown Phoenix development site for $12.75M

Downtown_Phoenix_Aerial_Sketch-on

Real estate developer Africa-Israel USA (AFI-USA) announces the sale of a five-acre downtown Phoenix development site at the corner of Central Avenue and McDowell Road for $12.75 million. AFI-USA had owned the property since 2004. Lennar Multifamily Communities is the purchaser and plans to transform what is currently an empty lot into a 288,000-square-foot luxury residential… Read More →

Hartford Place in Scottsdale sells for $7M

Hartford Place, WEB

Cassidy Turley announced the $7 million ($104.79/psf) sale of Hartford Place located at 8388 E. Hartford Drive in Scottsdale, Ariz. Locally based Hartford Exchange, LLC and Reems & Greenway LLC purchased the ±66,800 square foot property from Newport Beach, CA-based Buchanan Street Partners (Newport Beach, CA). Cassidy Turley Executive Managing Director Eric Wichterman and Senior Vice… Read More →

Krispy Kreme signs lease in Avondale, along I-10

Krispy Kreme, WEB
October 21, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Krispy Kreme Doughnuts has leased the former Long John Silver’s / A&W building at the SEC of I-10 and Dysart in Avondale, Ariz. Andy Kroot of Velocity Retail Group, LLC represented the Tenant – Hot Glazed Enchantment, Inc., a New Mexico corporation and Jennifer Eggert of ZELL Commercial Real Estate Services represented the landlord. The building was +/-2,741 SF… Read More →

Jaclynn Walsh named president, COO of Irgens

Jaclynn Walsh, Irgens

Irgens announced that Jaclynn (Jackie) C. Walsh had been named president/COO, effective immediately. Walsh will oversee day-to-day company operations in support of its real estate portfolio including property and facilities management, design and construction administration, leasing, project management, information technology, and marketing/communications. Mark F. Irgens, CRE will continue as CEO/manager and lead the company’s strategic… Read More →

Michael Lewis Co. buys parcel in Goodyear Gateway South

Goodyear Gateway South, EJM Development

Goodyear Gateway South, the 221-acre industrial zoned park being developed by EJM Development Co. just north of the Phoenix Goodyear Airport, has announced its first user. Michael Lewis Co. (MLCo) has purchased a 30-acre parcel for development. The financial terms of the transaction were not disclosed. Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s… Read More →

LGI Homes Arizona buys 151 lots in Buckeye

Sundance Lots_LGI Homes, Cassidy Turley, WEB

Cassidy Turley announced the sale of 40 finished and 111 platted lots in the master-planned subdivision of Sundance, located in Buckeye, AZ. LGI Homes Arizona, LLC (NASDAQ: LGIH) purchased the lots for $3.9 million. The seller was Kaufman Capital Sundance, LLC. Cassidy Turley Vice Presidents Brian Rosella and Will French negotiated the transaction on behalf… Read More →