Author Archives: 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.

New pedestrian tunnel takes shape at Phoenix Raceway

by in AZRE Magazine | Construction

As the Phoenix Raceway Project Powered by DC Solar begins to take shape, the construction crew is digging into the fan experience with the excavation of the new pedestrian tunnel.  The pedestrian-only tunnel will provide quick and easy access to one of the centerpieces of the $178 million modernization project – a premium Fan Zone.… Read More →

Stantec will acquire RNL Design, with Phoenix office

by in Architecture | AZRE Magazine

Global design firm Stantec will strengthen the coast-to-coast reach of its US Buildings practice while broadening its civic and commercial capabilities through the acquisition of RNL, a Denver-based, 134-person integrated architectural, interior and urban design firm.  A recognized industry authority in transit facilities, urban design, workplace, civic, higher education, and mixed-use facilities, RNL also embraces… Read More →

Lee & Associates sells Tempe parcels for $3.2M

Tempe town lake at dusk
by in AZRE Magazine

Three commercial land parcels that total 5.3 acres just east of the northeast intersection of Rural and Baseline roads, has sold for $3,200,000. Price per SF was calculated at $13.91 per SF. The property will be developed featuring two retail components; Alamo Drafthouse, a movie theater and dining concept with another location in Chandler and… Read More →

301-unit apartment community in Phoenix sells for $12.7M

by in AZRE Magazine | Brokerage

Cushman & Wakefield announced the $12,742,000 sale of La Reserve at Forty-Fifth, a 301-unit apartment community located at 2627 N. 45th Avenue in Phoenix, to Phoenix-based Jevan Capital, PLLC. Brett Polachek and Jim Crews from the Cushman & Wakefield Phoenix office represented the seller, CEGOP-PHX 1, LLC of Fort Collins, Colo. Built in 1972, La… Read More →

64 journeymen graduate from ABA apprenticeship programs

by in AZRE Magazine | Construction

On Thursday, June 15, at the Sheraton Mesa Hotel, 64 individuals graduated from the ABA-AGC Education Fund’s three apprenticeship programs, enabling them to be Heavy Equipment Operators, Heavy Equipment Diesel Mechanics and Electricians.  “Graduating from the program means that these individuals hold journeyman status and will be recognized as certified, competent and highly skilled tradesmen… Read More →

Sedona Vista Village breathes new life into retail center

by in AZRE Magazine

Sedona Vista Village is set to transform the faltering 90,000-square-foot Sedona Village Factory Outlets with a renovation and by adding the town’s first Westin hotel to anchor the newly purchased 9-acre development located on SR 79 in the Village of Oak Creek, known as the gateway to Sedona. The new owners of Sedona Vista Village… Read More →

Contour on Campbell luxury condominiums are topped off

by in AZRE Magazine | Construction

The topping out of Contour on Campbel brings Phoenix’s newest condominium community closer to completion. A collection of contemporary residences, CONTOUR promotes the modern lifestyle by merging inspired design, urban living and advanced construction techniques in an authentic, community-based environment. Click here to see time-lapse construction video: Contour on Campbel, located at 2300 E. Campbell Ave.… Read More →

Cushman & Wakefield sells The Vig Fillmore for $2.3 million

by in AZRE Magazine

Cushman & Wakefield announced that The Vig Fillmore, located at 606 N. 4th Avenue in Phoenix, has been sold for $2.3 million to 4th & Fillmore Place, LLC. The owners sold the property as a long-term sale leaseback and will continue to occupy the space.  Cushman & Wakefield Senior Director Chris Hollenbeck represented the seller.… Read More →

Berkadia secures $29.7M for Phoenix multifamily property

Berkadia announced the sale of the 152-unit Park 28 Apartments, a new luxury multifamily community located in Phoenix. Senior Managing Director Mark Forrester, Senior Managing Director Ric Holway and Senior Director Dan Cheyne closed the $29.7 million sale on behalf of the seller, an entity of Evergreen Development Company. The buyer was Pure US Apartments… Read More →

Valley Partnership picks 30th community project recipient

Valley Partnership
by in AZRE Magazine

The Society of St. Vincent de Paul Phoenix has been selected as recipient of the 2017 Valley Partnership Community Project. The annual event, which brings together hundreds of community leaders from the real estate and development communities for a day of service, will take place on November 4, 2017. For the past few years, the St.… Read More →

Is 16th Street the newest commercial real estate hub?

by in AZRE Magazine | Construction | Investment

We are halfway through the year 2017 and the Phoenix downtown and central corridor market continues to show an influx of commercial real estate property growth.  Is 16th Street the new hub for commercial real estate development? Let’s take a moment to highlight what we do know.  The retailer, Target Corp. have a number of stores… Read More →

JLL completes $81.75M sale of Camelback office building

by in AZRE Magazine | Office

The Phoenix office of JLL today announced the sale of 3131 and 3133 Camelback on behalf of TR Camelback Corp. The two-building, Class A office property is in the heart of the Camelback Corridor, which has enjoyed an average 93 percent occupancy rate since its delivery to market in 1998. Archon Acquisition LLC, a Goldman Sachs company,… Read More →

Daum negotiates $5.925 sales with 2 flex/industrial buildings

by in AZRE Magazine | Brokerage

Daum Commercial Real Estate Services has negotiated the $5.925 million sale of two industrial buildings located in Tempe and Phoenix. Daum Phoenix Executive Vice President Rich Sica represented the buyer and seller in both transactions. In the first transaction, University Realty LLC, an affiliate of the ASU Foundation purchased a 50,450-square-foot single-story industrial office building… Read More →

NAI Horizon adds Matt Harper to Retail Properties Group

by in AZRE Magazine | Newsmakers

NAI Horizon announced that Matt Harper, CCIM, has joined the company as an Associate in the Retail Properties Group.      Harper’s primary areas of focus will be retail leasing and sales. He will continue working with his existing clients, representing both landlords and tenants. With its global platform, NAI gives Harper the ability to… Read More →

ABI brokers $9.1M sale of a multifamily community near GCC

by in AZRE Magazine | Multi-Family

ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, announced the $9,100,000 / $58,333 per unit sale of the Cambridge Square Apartment Homes, a 156- unit apartment community located in Glendale, Arizona. The property features (7) three-story buildings, built of frame/stucco construction in 1984 and rests on approximately 4.32 acres. Cambridge Square… Read More →