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.

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 →

Dierks Bentley’s Whiskey Row in Gilbert breaks ground

Dierks Bentley's Whiskey Row
by in AZRE Magazine

LGE Design Build broke ground on the new Dierks Bentley’s Whiskey Row in downtown Gilbert, which will be designed to connect with the town’s agricultural roots. Country music star Dierks Bentley, Gilbert Mayor John Lewis, David Sellers, LGE Design Build president; Swen Anderson, LGE Design Build vice president of business development; and Ryan Hibbert, Riot… Read More →

December construction unemployment rates improve

homes
by in AZRE Magazine | Construction

Unusually mild weather in much of the country persisted in December, benefiting construction and reducing the size of the normal seasonal increase in construction unemployment rates. This was the warmest, or one of the warmest, Decembers on record for most cities in the eastern half of the country. Not seasonally adjusted (NSA) construction unemployment rates for the country… Read More →

Salt River Judicial Center nears completion

Salt River Judicial Center
by in AZRE Magazine | Construction | Public

The Salt River Pima-Maricopa Indian Community (SRPMIC) recently celebrated the topping out of the Salt River Judicial Center, a complex that will house the Community’s tribal court, legal services, prosecutors and defense advocates offices. The project is a joint venture of Au’Authum Ki and Kitchell, a collaboration that also completed the SRPMIC Detention Facility. Gould… Read More →

Glendale Industrial space sells for $1.75M

Industrial Space
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services negotiated the $1.750 million sale of a 16,150-square-foot industrial building located on 3.77 acres at 5150 N. Tom Murray Ave. in Glendale. Carl Johnson with Daum Phoenix represented the seller, MTCCG LLC of Paradise Valley. The company is a family trust who has owned the facility for 40 years. Daum… Read More →

Nonresidential construction spending falls again

PHOTO BY: Risk Management | Monitor
by in AZRE Magazine

Nonresidential construction spending dipped for a second consecutive month, falling 0.4 percent on a monthly basis in December, according to analysis of U.S. Census Bureau data released Monday by Associated Builders and Contractors (ABC). Nonresidential construction spending totaled $681.2 billion on a seasonally adjusted, annualized basis. November’s nonresidential construction spending estimate was revised lower by… Read More →

Hotel System Solutions positioned for growth in 2016

hospitality trends
by in AZ Business Magazine | Tech

Hotels never close.  Hotel System Solutions (HSS) doesn’t either. Co-Founders Erik Strom and Scott McGraw formed HSS in February 2015, drawing upon more than 40 years of combined hospitality management and technology experience to provide the hotel community with integrated systems and support for Opera PMS, POS, Interfaces and more with the Oracle Hospitality Suite.… Read More →

Hoskin-Ryan signs long-term Phoenix lease

123rf.com: Vitaliy Vodolazskyy
by in AZRE Magazine | Brokerage | Office

Hoskin-Ryan Consultants, Inc., a full-service, civil engineering firm signed a long-term, 12,808 SF office lease at 5050 @ Camelback located near 40th Street and Camelback Road. Craig Coppola and Andrew Cheney, Principals and Gregg Kafka, Associate with Lee & Associates, represented the landlord, California-based Mark IV, Capital Inc., while Scott Nelson with Commercial Properties, Inc.… Read More →

Blue Desert Interiors brings luxury home style to office

Blue Desert Interiors
by in AZRE Magazine

Blue Desert Interiors recently completed a custom tenant improvement project for a Scottsdale financial planner at Edward Jones.  The 1,157 square foot office is located at 9590 E Ironwood Square Dr. #Suite 235 in Scottsdale. “The project was unique because most Edward Jones offices follow a corporate color and furniture scheme,” said Mark LaPalm, IFDA… Read More →

$57M Downtown Phoenix apartments to open in February

Downtown Phoenix Apartments
by in AZRE Magazine | Multi-Family

Two Phoenix apartment complexes near Washington and 12th Streets will have a public grand opening on Feb. 25. Phoenix Mayor Greg Stanton will commemorate the grand opening of Capital Place, a $57 million 292-unit apartment complex. The open house event will showcase the new project and highlight downtown living. In partnership with neighboring businesses, the… Read More →

Chandler Comfort Inn sold for $7.7 million

123rf.com: feverpitched
by in AZRE Magazine | Hospitality

The Chandler Comfort Inn sold to a California-based hotel group for $7.7 million, and Tower Capital arranged a $5,600,000 acquisition loan for the purchase. The 129-room Comfort Inn is located near Chandler Boulevard and 56th Street. The 4-story limited service hotel was originally built in 1997 and renovated in 2012. The $5.6 million dollar loan… Read More →