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.

Keyser adds veteran real estate attorney Roger Owers

Roger
by in AZRE Magazine | Newsmakers

Keyser has added veteran real estate attorney Roger Owers to its rapidly growing industrial practice group as a commercial real estate advisor.  Mr. Owers brings 15 years of commercial real estate legal experience to Keyser, and will be responsible for helping to service Keyser’s rapidly expanding local, national and global client base. “We are very pleased… Read More →

Arcadia apartments sell for $3.1M

123rf.com: feverpitched
by in AZRE Magazine | Multi-Family

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, negotiated the sale of the Horizons at Arcadia Apartments a 51-unit, apartment community for $3,100,000 or $48,750 Per Unit. Originally built in 1985, Horizons at Arcadia Apartments is comprised of three contiguous buildings that are constructed of block and wood with flat roofing. Over the last… Read More →

8 acres in Chandler sell for $2.4M

Chandler
by in AZRE Magazine | Site Selection

Colliers International’s  greater Phoenix office negotiated the sale of approximately eight acres of PAD-zoned land in Chandler, for $2,433,261 million or approximately $6.98 per square feet. The parcel is located north of the northeast corner of Juniper Drive and Chandler Boulevard within Chandler Corporate Center. Greg Hopley, executive vice president in Colliers’ Scottsdale office, represented… Read More →

New York Life Insurance Company buys Phoenix building

New York Life Insurance Company
by in AZRE Magazine | Industrial

Cushman & Wakefield completed the sale of Phase 1 at 10 West Logistics Center, 6200 W. Van Buren St. The buyer is an entity owned by New York Life Insurance Company. The sellers are Phoenix-based Wentworth Property Company (“WPC”) and Crow Holdings Capital of Dallas, joint venture partners in the development. Cushman & Wakefield Executive Managing Director Andy… Read More →

Slideshow: Downtown’s latest hip apartments, Proxy333

Proxy333 header
by in AZRE Magazine | Multi-Family

Some were miffed when the the original building where Proxy333 now stands was torn down, but they’d be excited to hear the upcoming luxury apartments are still paying homage to what once was. The Tilton Development Company and Goodman Real Estate developers commissioned local muralist Such Styles to work on murals at the new apartments,… Read More →

Berkadia completes midtown Phoenix multifamily sale

Berkadia
by in AZRE Magazine | Multi-Family

Berkadia completed, Wednesday, the sale of Barrington Regent, a Class B rental community in Phoenix. The $11 million sale was completed on May 18, and reflects a $88,709 per-unit price. Located at 825 W. Osborn Road, Barrington Regent is less than a mile from the Metro Light Rail and approximately one mile from the Downtown… Read More →

HFF expands presence by opening Phoenix office

Downtown Phoenix, Photo: Flickr, squeaks2569
by in AZRE Magazine | Newsmakers

Holliday Fenoglio Fowler, L.P. (HFF) is expanding its western U.S. presence by opening an office in Phoenix with a focus on debt and equity placement as well as investment sales serving Arizona and the greater southwest region. The opening of this office will represent HFF’s 23rd location in the U.S. Day-to-day operations of the Phoenix office, which… Read More →

Daum negotiates $5.6M industrial sale

Daum
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services has negotiated the $5.6 million sale of two industrial buildings located in Price Road Industrial Park in Chandler. The sale includes a 43,549 square-foot facility located at 2805 W. Frye Rd. and a 25,184-square-foot building located at 315 S. Bracken Ln., across five acres. Rich Sica with Daum Phoenix represented the seller,… Read More →

Photos: Newport at Tempe brings beach-style living to Valley

The Newport
by in AZRE Magazine | Multi-Family

The border between North Tempe and South Scottsdale just got a little bit cooler with the addition of The Newport at Tempe, a new luxury home community by Newport Beach-based Risi Development. The latest phase of The Newport shows its 38 new single-family homes that brings California beach house-style living to one of the Valley’s most… Read More →

Surplus Asset Management expands to Canada, Mexico

Surplus Asset Management
by in AZ Business Magazine | Economy

Surplus Asset Management (SAM Auctions), an auction and liquidation sales firm, is expanding into Mexico and Canada, which will allow it to serve grocery, restaurant, retail and big box industries across North America. Phoenix-based Surplus Asset Management International, LLC is now licensed to serve the Canadian market. Opening an office and establishing business presence will help the firm serve… Read More →

Cushman & Wakefield negotiates sale of Tempe lakefront property

Tempe lakefront property
by in AZRE Magazine | Brokerage | Multi-Family

Cushman & Wakefield negotiated the $25.13 million sale of The Nines Apartments, on behalf of owner FPA Multifamily, LLC of San Francisco. The buyer acquired the property with a $19.522 million dollar loan provided by Brandon Harrington and Matt Steffen of Walker & Dunlop in Phoenix. Located at 999 E. Baseline Rd. in Tempe, Ariz., the… Read More →

BKM acquires 3-property industrial portfolio in Phoenix

BKM
by in AZRE Magazine | Industrial

BKM Capital Partners, an institutional fund manager, acquired the RREEF Tempe portfolio, a 305,524 square-foot three-property portfolio, in an off-market transaction. The three properties are located in Tempe. The portfolio consists of 16 multi-tenant light industrial buildings and was purchased for $24.1 million, which is 34 percent below replacement cost. This portfolio was acquired as… Read More →

CoreNet Global Arizona will host ‘Midyear Market Update’

CoreNet Global Arizona
by in AZRE Magazine | Events

The 2016 commercial real estate industry in the Valley is showing signs of growth at midyear. But what lies ahead for the next six months in regards to job creation, vacancy rates and available capital? These and other topics will be discussed at the “Midyear Market Update: Brokers’ Perspective,” presented by CoreNet Global Arizona, June… Read More →

Irgens completes Chandler Airport Center project

Chandler Airport Center
by in AZRE Magazine | Office

Irgens – Phoenix finished development of its Ascend at Chandler Airport Center building, located at the northwest corner of South Cooper and East Germann roads in Chandler. The 81,712-square-foot flex/office building is expandable to 162,000 square-feet with addition of a second level. The building is located within the Chandler Airport Center, a multi-building corporate business park… Read More →

Bell Road mixed-use project announces retail tenants

Bell Road
by in AZRE Magazine | Construction | Mixed-Use

Evergreen Development is ramping up construction at its 31-acre Trellis on Bell community at 12th Street and Bell Road in north Phoenix. The Phoenix-based developer is beginning construction on the community’s residential apartments, while new restaurant and retail tenants Café Rio, Blaze Pizza and Arizona Hair Company have signed leases to help anchor the 12,171-square-foot shops… Read More →