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.

Valley retail portfolio sells for $150M

Target-Village Center, CBRE, WEB

CBRE has completed the sale of the Phillips-Edison Fund IV Portfolio. The nine-property retail portfolio sold for $150 million and totals over 1.35 million square feet. Jesse Goldsmith and Steve Julius of CBRE in Phoenix, Ariz., along with Christian Williams and Gleb Lvovich of CBRE’s National Retail Investment Group, negotiated the sale between the seller,… Read More →

Sand Capital acquires Four Peaks Plaza

Four peaks plaza

Sand Capital, a privately-held real estate investment company, located in Scottsdale, Ariz., has just closed on 140,390 square foot Target-anchored power center in Fountain Hills. Sand Capital is the financial arm and sister company to Sandor Development Company, which was founded in 1963 in Indianapolis, Indiana. Today, Sandor owns and manages over 8 million square… Read More →

PB Bell, Davis Enterprises to redevelop ‘Psycho’ building

Circle West - Barrister Building - West Elevation 08 25 14

P.B. Bell Companies, a leader in multi-family housing and commercial real estate development and management, and Davis Enterprises, an investment and development company serving Arizona’s retail and office sectors for six decades, have been selected by the City of Phoenix to redevelop the historic Barrister Place building in downtown Phoenix. City officials chose the P.B. Bell… Read More →

San Francisco investor buys St. Luke’s Medical building for $8.45M

555North18thStreet, Cassidy Turley, WEB

Cassidy Turley announced the successful sale of a ±49,816 square foot medical office building at 555 North 18th Street in Phoenix’s downtown submarket. San Francisco-based Stockbridge Funds purchased the St. Luke’s Medical property for $8.45 million ($169.62/psf) from Chicago-based Heitman Real Estate Investment Management. Executive Managing Director Eric Wichterman and Senior Vice President Mike Coover… Read More →

Villa Serena apartment complex sells for $6.42M

Villa Serena Main Pic, Colliers, WEB
August 27, 2014 by in AZRE Magazine | Blogs | Brokerage | In The Spotlight

Colliers International in Greater Phoenix recently completed the sale of Villa Serena, a 137-unit Class B apartment complex, for $6.42 million, or $46,861 per unit. Janet LePage of North Vancouver, BC, purchased the complex, located at 4221 W. Dunlap Avenue, from Bligh Group, LLC, of Rancho Santa Fe, Calif. Bill Hahn, Jeffrey Sherman and Trevor… Read More →

Cleart Title ranks on Inc. 500 | 5000 List

August 27, 2014 by in AZRE Magazine | Blogs | Finance & RE Law

Clear Title Agency of Arizona, a commercial and residential title and escrow service provider, is ranked No. 671 on the eighth annual Inc. 500|5000 List, an exclusive ranking of the nation’s fastest-growing private companies. It is the second straight year Clear Title has earned the distinction, moving up more than 300 spots from last year’s… Read More →

Kitchell finishes 171KSF patient tower at Chandler Regional

Chandler Regional Hospital

Kitchell recently completed a 171,000-square-foot expansion at Dignity Health Chandler Regional Medical Center, adding 96 beds and bringing the hospital’s bed count to 339, while adding and expanding comprehensive services. “Chandler Regional is truly a community hospital with more than 50 years of history in the East Valley,” said Tim Bricker, president and CEO of… Read More →

Penco Properties buys Harris Park Professional Plaza

Courtesy of CPI
August 26, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of Harris Park Professional Plaza.  Tyson Breinholt and Shane McCormick of CPI’s Tempe Office Group represented both the buyer and seller in this transaction. The 27,864 SF, Class B office building is located at 1550 E McKellips Road in Mesa, Arizona… Read More →

California company buys Sonoran Vista Apartments complex

Sonoran Vista Apartments
August 26, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

CBRE has completed the sale of the Sonoran Vista apartment community, a 264-unit apartment complex located at 9340 E. Redfield Rd. in Scottsdale, Ariz. The multifamily asset, which is situated in the heart of the north Scottsdale submarket was 95 percent leased at time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch… Read More →

California investor buys nearly half of Rialto Condominiums

Rialto in Tempe, ABI, WEB
August 26, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ABI Multifamily announced the sale of 22 of 54 units at Rialto Condominiums, a community near Arizona State University (ASU). Converted and renovated with condo grade finishes in 2006, the 22 units with HOA control sold for $1,530,435 or approximately $69,565 per unit. “The economic activity and development happening in Tempe has been very exciting. … Read More →

Lincoln Property Co. acquires Freeport Distribution Center

Freeport Distribution Center, WEB

Lincoln Property Company (LPC) has acquired the two-building, 219,240-square-foot Freeport Distribution Center industrial project in southwest Phoenix. Freeport Distribution Center is located at the northwest corner of Buckeye Road and 51st Avenue, just minutes from the Phoenix Sky Harbor International Airport. The project is a close-in infill site offering immediate connectivity to the I-10, I-17… Read More →

Luxury multifamily development opens in Oro Valley

The Villas at San Dorado

Almost a year after breaking ground, Mark-Taylor has opened its first luxury multifamily development in Pima County, the Villas at San Dorado. The community is part of a mixed-use development set against the gorgeous backdrop of the Santa Catalina Mountains. Located at the southeast corner of First Avenue and Oracle Road (10730 N. Oracle Road),… Read More →

Cassidy Turley reports two retail center sales

Marley Park Plaza
August 26, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Cassidy Turley announced the sale of Marley Park Plaza, a 77,545 square foot, grocery-anchored neighborhood shopping center at 15411 W. Waddell Road in Surprise. IMAN Enterprises, LLC of Surrey BC, Canada, purchased the retail center for $12.45 million from Donahue Schriber Realty Group. Cassidy Turley Executive Managing Directors Ryan Schubert, Michael Hackett, Dan Wald and… Read More →

Liberty Tolleson Center reaches 100 percent occupancy

Liberty Tolleson Center

Liberty Property Trust announced it has signed a lease with Green Light Direct Services at Liberty Tolleson Center, bringing the 200KSF project to 100 percent occupancy. Green Light Direct Services will move into its new location, 8601 W. Washington Street, in October. Rick Collins of CD Commercial Advisors represented Green Light Direct Services and Tony… Read More →

Ventana leases 60KSf build-to-suit in Marana

TCP-Ventana, CBRE, WEB

An affiliate of Cottonwood Properties announced they will be constructing and leasing a 60,000 square foot distribution facility for Ventana Medical Systems, Inc. (Ventana), a member of the Roche Group. The new facility is located in Tangerine Commerce Park located on Tangerine Farms Road just west of the Tangerine Road freeway interchange. This is the… Read More →