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.

Phoenix boutique apartment sells for $1.65M

Boutique apartment
by in AZRE Magazine | Multi-Family

Brian Smuckler and Jeff Seaman of CBRE’s Multifamily Investment Group completed the $1.65 million sale of The Carolina, an 18-unit boutique apartment community in Central Phoenix. The Carolina is located at 512-524 E. Mariposa St. in Central Phoenix. The buyer was KWA Properties Arizona 2 LLC of Seal Beach, California. The seller, Clear Sky Capital II LLC… Read More →

Multifamily Pavilions at Arrowhead sells for $31.6M

sold
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA) announced the $31.6 million sale of The Pavilions at Arrowhead, a 248-unit multifamily community located near 75th Avenue and the Loop 101, a 4,200-acre master-planned community in Glendale. “Operational momentum, supported by excellent submarket fundamentals, has laid the groundwork for the new owner to capitalize on significant loss-to-lease burn-off during the first year of… Read More →

Desert Commercial Advisors announces sales, leases

123rf.com: Vadim Guzhva
by in AZRE Magazine | Brokerage

Desert Commercial Advisors announced its recent sales and leases, totaling $1,515,000 million in sales across the Valley, and 21,915 square-feet worth of leased out space. Sales: Office advisors, Justin Horwitz and Paul Borgesen III sold 8,643 square-feet to Michael Smith, who was represented by SRM Development for $635,000.00. The retail property is located at 2722 N.… Read More →

Fully leased Phoenix Warehouse sells for $1.15M

Phoenix Warehouse
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services negotiated the $1.15 million sale of a 10,792-square-foot 100 percent leased warehouse located at 23042 N. 16th Ln. in Phoenix. Chris Rogers and Trevor McKendry of Daum Phoenix represented both the buyer and seller in the transaction. Bob Lundstedt, first vice president of Daum Phoenix, assisted in representation. The buyer, Hualapai Investments… Read More →

ENVY Residences set for spring completion

Envy Residences
by in AZRE Magazine | Multi-Family

The $47 million ENVY Residences condominium tower in Old Town Scottsdale, near Scottsdale and Camelback Roads is on track to open in late spring. Developed by Deco Communities, the residential project will bring 89 high-end residences to the heart of Scottsdale’s arts, entertainment and nightlife mecca. The building will celebrate its grand opening and welcome the first… Read More →

Irgens completes Harbor Vista Medical Center development

Harbor Vista Medical Center
by in AZRE Magazine | Medical

Irgens announced development completion of shell and core construction for Harbor Vista Medical Commons, the new Cigna Medical Group Sun City Multi-Specialty Center at 9069 W. Thunderbird Ave. The 60,000-square-foot, build-to-suit facility will offer health care delivery services to Cigna Medical Group patients. Scheduled to open for patients in October, project development is meeting Cigna’s… Read More →

Valley Partnership to talk on construction labor

Construction Employment - Welder
by in AZRE Magazine | Construction

Valley Partnership’s topic for its upcoming monthly breakfast on Friday, Feb. 26 will be on the availability of construction labor in Metro Phoenix. The panel will feature Jerry Barnier, Founder, Suntec Concrete; Jeff Eschliman, vice president of Operations of Maracay Homes; Fred Ingersoll, director of apprenticeship & training at Arizona Builders Alliance; and Brad Nelson, project superintendent… Read More →

Phoenix Kindred Transitional Care Center completed

Kindred Transitional Care Center
by in AZRE Magazine | Construction | Medical

The Weitz Company completed the newest Kindred Transitional Care Center located near 19th and Van Buren Streets, making it Kindred’s third transitional center in the Valley. Built near downtown Phoenix at1880 E. Van Buren Street, Kindred is a 120 bed post-acute care facility focused on patient rehabilitation. The facility is a new 3-story, 81,000 square foot structure… Read More →

ARM signs lease for Arizona operations in Chandler

ARM
by in AZRE Magazine | Brokerage | Office

Cushman & Wakefield, a commercial real estate services firm, announced, Monday, that ARM Inc. leased a 13,275 square-foot space for its new Arizona operations at The Park at San Tan in Chandler. ARM, headquartered in Cambridge, England, is a semiconductor intellectual property supplier. ARM licenses intellectual property to a network of partners, which includes the world’s… Read More →

Report: Phoenix construction activity rebounding

Arizona leads nation in Construction Employment
by in AZRE Magazine | Construction

Mortenson Construction released its quarterly Construction Cost Index report, Friday, for Phoenix along with five other metropolitan areas in the U.S. According to the report, after experiencing a dip in late 2014, the Phoenix construction market rebounded in 2015. The report also cites that local, non-residential construction employment continued to show positive growth in 2015, according… Read More →

Construction unemployment rises in January

Bernards & Construction
by in AZRE Magazine | Construction

The U.S. construction industry’s unemployment rate rose to 8.5 percent in January, the highest level since March of 2015, according to an analysis of U.S. Bureau of Labor Statistics data released Friday by Associated Builders and Contractors (ABC). The unemployment rate across all industries shed a tenth of a percentage point and now sits at… Read More →

Alliance Residential launches recruiting campaign

CBRE
by in AZRE Magazine

Multifamily developer and manager, Alliance Residential, is launching a month-long national recruiting campaign, aimed at attracting college students and recent graduates to a career in the apartment industry. “There is so much opportunity in the multifamily realm and, specifically, at Alliance – from property management to investment/development to corporate support, we currently have 240 available… Read More →

Phoenix Mountain Park Plaza sells for $9.7M

Mountain Park Plaza
by in AZRE Magazine | Retail

Colliers International in Greater Phoenix negotiated the sale of Mountain Park Plaza on 7th Street and Baseline Road in Phoenix, for $9,665,000. Mindy Korth, executive vice president; and Kirk Kuller, vice president, with Colliers’ Phoenix office represented the seller, Western America Commercial, which is a 19-member Tenant in Common based in Issaquah, Washington. The seller… Read More →

Volvo dealership coming to $60M autopark

Carvana
by in AZRE Magazine | Retail

The owners of Courtesy Chevrolet will be opening up a Courtesy Volvo dealership at the $60 million auto mall, Scottsdale AutoShow at Salt River. The new dealership will include a sales and service facility, and is currently in escrow. The auto mall where the new Volvo dealership will reside is set to be completed in… Read More →

Offices near Sky Harbor sell for $17M

Sold Sign
by in Blogs

Irgens purchased a 102,302 square-foot office building near Sky Harbor for $17 million near Van Buren and 44th Streets. The four-story building is located south of the Loop 202 and just off State Route 143 near Sky Harbor International Airport at 501 N. 44th St. The property, 501 Gateway, features 102,302 square-feet of prime office… Read More →