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.

Vestar celebrates 25th anniversary

rsz_tempe-marketplace-01

Vestar, the largest privately held retail developer in the western US, is celebrating 25 years of creating and managing leading shopping and entertainment destinations. Today Vestar owns and operates over 23 million square feet of retail property located across several western states. The company’s most noteworthy projects include Desert Ridge Marketplace, the award winning 1.2… Read More →

Berkadia negotiates $21.5M for multifamily acquisition

Sierra Ranch Apartments Photo, Berkadia, WEB

The Phoenix office of Berkadia Commercial Mortgage LLC (Berkadia) recently negotiated the financing and acquisition of Sierra Ranch Apartments, a multifamily property located in Phoenix. Senior Vice President Charlie Williams worked with the borrower to secure a $21.5 million, 10-year, fixed-rate acquisition loan through a life company correspondent, while Senior Partner Mark Forrester and Partner… Read More →

Gold Canyon Candles signs 3-year lease in Chandler

Gold Canyon Candles signs lease at 6205 S. Arizona Ave., in Chandler, Ariz.
September 19, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

An Arizona-based company signed a 36-month lease for 42,000 SF at the Gold Canyon Candles Building at 6205 S. Arizona Ave. in Chandler, Ariz. Lee & Associates principals TJ Swearengin, Stein Koss, SIOR and Tom Louer, SIOR, represented the landlord, Gold Canyon Candles, which occupies a majority portion of the 212,070 SF warehouse building. Andy… Read More →

HFF finances multifamily property in Chandler, Ariz.

San Brisas

HFF announced that it has arranged financing for two garden-style multi-housing communities – San Brisas in Chandler, Arizona and The Preserve at Arbor Hills in Plano, Texas. HFF worked on behalf of Pure Multi-Family REIT LP, to secure the seven-year loan through Northwestern Mutual.  Loan proceeds were used to acquire the properties. San Brisas is… Read More →

BH Properties acquires Shasta Beverages warehouse in Phoenix

BH Properties, WEB

BH Properties, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed real estate properties, has purchased the Shasta Beverages, Inc. warehouse facility, located at 301 S. 29th St. in Phoenix, for $1.9 million. The all-cash deal closed in 18 days. “This property presented a prime investment opportunity as we are actively… Read More →

Solar Solutions AZ buys three industrial buildings, recent PICOR transactions

Retail Service Systems, Inc. leased 18,424 square feet at 1150 S. Plumer Ave. in Tucson.
September 19, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Cushman & Wakefield | PICOR announced the following recent transactions: Retail Service Systems, Inc. leased 18,424 square feet at 1150 S. Plumer Ave. in Tucson from Antonio Gonzalez.  Paul Hooker and Ron Zimmerman, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. ___ Solar Solutions AZ, LLC purchased three industrial… Read More →

City of Phoenix opens RFP for Adams Street Corridor

Phoenix Convention Center, GoGreen Conference 2011

The city of Phoenix is seeking proposals from proposers who can help revitalize the Adams Street corridor in downtown Phoenix.  Proposals that would rejuvenate the area along Adams and Second streets, adjacent to the Phoenix Convention Center and downtown hotels are highly encouraged. Proposers should address how their business will create vibrant places and active… Read More →

Hacienda Healthcare to break ground on children’s hospital

Hacienda, WEB

On Monday, Sept. 22, at 11 a.m., Hacienda HealthCare and RJM construction will host the groundbreaking ceremony for the new 24-bed, 20,900-square-foot children’s hospital in Mesa, Ariz. The hospital, located at 610 W. Jerome Ave., will feature: Four themed patient wings with unique floor cuts and patient room headwalls to synchronize with the themes Four… Read More →

Peoria Marketplace sells for $5.1M

Peoria Marketplace
September 19, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has completed the sale of Peoria Marketplace, a ±25,481-square-foot multi-tenant shopping center in Peoria, Ariz. The grocery shadow-anchored retail property is located at 7521, 7549 and 7611 West Cactus Road and commanded a sale price of $5.1 million. Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office negotiated the transaction between the seller, G… Read More →

Paul Schoeffler joins Adolfson & Peterson Construction

Adolfson & Peterson Construction (A&P) announced the addition of Paul Schoeffler as senior preconstruction manager for the Southwest region. Schoeffler has over 35 years of experience within the commercial construction industry, primarily in preconstruction roles with large commercial contractors.  Schoeffler will be responsible for working with clients to provide initial conceptual estimates, constructability reviews, and… Read More →

Opportunity for high-tech firms spills into Phoenix’s suburban markets

Infusionsoft

As goes the high-tech industry, so goes opportunity. Once a high-tech company anchors a neighborhood, housing prices rise, new amenities spring up and unemployment dips. JLL’s latest High-Technology Office Outlook reveals where high-tech companies are looking for (and finding) reasonably priced labor and real estate, and how new and unexpected markets like suburban Phoenix are… Read More →

Auto aftermarket company signs 109KSF lease in Phoenix

Canal Crossing

A leading auto aftermarket company has signed a 10-year + lease for 109,060 SF at Canal Crossing Logistics Center at 5670 S. 32nd St. in Phoenix. The project is currently under construction. Lee & Associates principals Jeff Conrad and Allen Lowe represented the landlord, Conor Commercial Real Estate (a real estate development and investment arm… Read More →

Vintage Partners to redevelop ’50s era shopping center

Courtesy of MMPR Marketing

Vintage Partners, the Arizona-based commercial real estate development and investment company, announced its selection by Uptown Plaza Associates, LLC to lead the redevelopment of Uptown Plaza, the landmark 1950s era shopping center in central Phoenix on the NE corner of Central Avenue and Camelback Road.  Kicking off with a groundbreaking in September 2014 (exactly 59… Read More →

AZRE Magazine September/October 2014

AZRE Magazine Digital Issue
September 17, 2014 by in Archives | AZRE Magazine

Out of Office Earlier this year, I was at a conference where the keynote spent a good portion of his speech poking fun at Millennials. One of the highlights of the speech had to do with a claim that people between the ages of 18 and 33 are an exceptionally demanding group of employees. The… Read More →

NAIOP Commercial Real Estate 2014: A Special AZRE Report

AZRE_NAIOP_frontpage_small
September 17, 2014 by in Archives | AZRE Magazine

Out of Office Earlier this year, I was at a conference where the keynote spent a good portion of his speech poking fun at Millennials. One of the highlights of the speech had to do with a claim that people between the ages of 18 and 33 are an exceptionally demanding group of employees. The… Read More →