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.

Historic El Cortez to be redeveloped into microapartments

El Cortez

CBRE has completed the sale of most of the units in the historic El Cortez condominium complex in midtown Phoenix. The sale included 146 of the 165 units in the complex for a sale price of $6.4 million. Brian Smuckler and Jeff Seaman with CBRE’s Phoenix office represented the seller, El Cortez Condominiums, LLC of… Read More →

Colliers assists Veterans Affairs with health center lease

Jonathan Ammon of

Colliers International in Greater Phoenix recently assisted the U.S. Department of Veterans Affairs in securing a long-term office lease in the 80,814-square foot Estrella Health Center in Phoenix. The Phoenix VA leased the 4th floor of the building, located at 9250 W. Thomas Road, from Legend Real Estate Management with corporate offices in Los Angeles.… Read More →

$350M luxury condos break ground at Silverleaf

The Sterling Collection

The Sterling Collection at Silverleaf, one of the largest residential projects in the Southwest, broke ground last week during a ceremony to celebrate the start of construction at the $350 million development by Cypress Development Group. Situated within the 2,000-acre Silverleaf neighborhood, The Sterling Collection is an intimate enclave with five, four-story buildings. Priced from… Read More →

Avenue5 leases entire floor at Anchor Centre West


Avenue5 Residential recently signed a long-term office lease for the entire 2nd floor at Anchor Centre West, 2201 E. Camelback Rd., Phoenix. Adam Tolson, Principal with Lee & Associates secured the tenant, Avenue5, who will take possession of the 17,974 SF, turn-key space early in 2016. Chris Walker, Michael Beall and Sean Spellman with Cushman & Wakefield… Read More →

Industrial facility will be leveled for office building

4039 E Raymond
by in AZRE Magazine | New to Market | Office

A 64,856 SF manufacturing building at 4039 E. Raymond St. in Phoenix recently sold for $3,600,000 ($55.51 per SF) to make way for a 90,000 SF office building. The property sits on 6.95 acres, strategically located at the NEC of I-10 and 40th St., just south of Phoenix Sky Harbor International Airport. Originally built in the… Read More →

Bryan Cave and Berkeley Research lease at Renaissance Square

Renaissance Square 2

Hines, the international real estate firm, announced it has renewed Bryan Cave’s long-term 38,878-square-foot lease and signed a new 6,244-square-foot lease for Berkeley Research Group, LLC at Renaissance Square. Bryan Cave, a law firm with more than 135 employees, has been located at Renaissance Square for 17 years. “We are pleased to renew our lease… Read More →

C&W | PICOR rolls out more November transactions Vitaliy Vodolazskyy
by in AZRE Magazine | Brokerage | New to Market

SALE AVIVA Children’s Services, Inc. purchased a 7,373 square foot industrial building at 821–825 E. 47th St. in Tucson from BOKF, National Association, dba Bank of Oklahoma, for $370,000.  Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller and Terry Lavery with Tucson Realty & Trust Company, represented the buyer in this… Read More →

Eastmark celebrates more than 500 sales in 2015


Eastmark, DMB’s newest masterplanned community, recently celebrated over 500 homes sales to date in 2015, bringing the community’s total sales to about 900 in just over two years.  Real estate experts continue to herald the East Valley as a strong housing market and those rising communities have had a number of key economic development wins… Read More →

60 days of multi-million dollar transactions for Sperry Van Ness Alexey Kuzin

The Sperry Van Ness Phoenix location is hitting it out of the ballpark lately. The last sixty days have been the commercial real estate playoffs for this team and several advisors made several strong plays to end up with a winning trophy. September was action-packed month for the same seven advisors closing significant deals such… Read More →

Dared 89 buys future Valley office building for $3.6M

4039 Raymond

Dared 89 LLC (dba Douglas Allred Company) of Cushman & Wakefield purchased a ±64,853 square foot industrial building at 4039 E. Raymond Street in Phoenix for $3.6 million. The San Diego-based full-service real estate firm announced plans to tear down the existing building and develop Allred 40, a ±90,000 square foot, two-story office building. Cushman &… Read More →

Clarendon Place in midtown Phoenix sells for $9.37M

Clarendon Place

Cushman & Wakefield announced that Clarendon Place, located at 300 W. Clarendon Ave. in Phoenix, sold to California-based investor Brentwood Mortgage Rose Plaza/MKN for $9.37 million. The seller was the Burton Family Foundation (Daryl Burton and Jeffrey Sauter) of Phoenix. Cushman & Wakefield’s Eric Wichterman and Mike Coover represented both parties during the sales transaction.… Read More →

Blaze Pizza comes to Tempe thanks to SimonCRE

Blaze Pizza

Commercial real estate developer SimonCRE purchased a +/-3,300 SF freestanding retail building in the heart of the ASU trade area and will begin renovations immediately for Tempe’s newest chain, Blaze Pizza, set to open in the spring. The building, located at 105 W. University, sits just west of the intersection of Mill Avenue and University… Read More →

Sundt wins top national DBIA Award

Old Main
by in Architecture | AZRE Magazine | Construction

Sundt Construction, Inc. ( led the design-build team that earned top honors at the Design-Build Institute of America’s (DBIA) 20th Annual Design-Build Project/Team Awards for its work on the Old Main renovation at the University of Arizona in Tucson. The project was one of just 10 projects to win an Award of Excellence in each of… Read More →

WP West acquires 4 acres of downtown Phoenix land Jakub Jirsak

Wood Partners’ entity WP West Acquisitions, LLC, one of the nation’s leading real estate developers, purchased 4.18 acres on Third Street and Thomas Road in the heart of downtown Phoenix. The sale was brokered through Michael A. Lieb, Ltd representing the buyer, while Stuart Milne and Rich Andrus with Menlo Group Commercial Real Estate represented… Read More →

Fort Valley Apartments sell for $3.65M feverpitched

Bruce Hanley represented Clear Sky Capital Partners in the acquisition of the 44-unit Fort Valley Apartments in Flagstaff, AZ for $3,650,000. The seller was Fort Valley Apartments LLC. Fort Valley Apartments is a class “B” property built in 1966 with units averaging 1,002 SF/each. Located in close proximity to Northern Arizona University and Arizona Snowbowl… Read More →