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.

Michael Lewis Co. buys parcel in Goodyear Gateway South

Goodyear Gateway South, EJM Development

Goodyear Gateway South, the 221-acre industrial zoned park being developed by EJM Development Co. just north of the Phoenix Goodyear Airport, has announced its first user. Michael Lewis Co. (MLCo) has purchased a 30-acre parcel for development. The financial terms of the transaction were not disclosed. Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s… Read More →

LGI Homes Arizona buys 151 lots in Buckeye

Sundance Lots_LGI Homes, Cassidy Turley, WEB

Cassidy Turley announced the sale of 40 finished and 111 platted lots in the master-planned subdivision of Sundance, located in Buckeye, AZ. LGI Homes Arizona, LLC (NASDAQ: LGIH) purchased the lots for $3.9 million. The seller was Kaufman Capital Sundance, LLC. Cassidy Turley Vice Presidents Brian Rosella and Will French negotiated the transaction on behalf… Read More →

Historic apartment complex in Phoenix sells for $1.2M

Palmcroft Pic, WEB
October 20, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate announced the sale of Palmcroft Apartments, a 12-unit apartment complex in Phoenix, for $1,200,000.  The property was built in 1940 and was 90% occupied at the time of sale.  It consists of three studios, eight one-bedroom and one two-bedroom units and is located in the Encanto Palmcroft Historic District. The Arizona-based sellers have owned… Read More →

CBRE to market office space at Chandler Viridian

Chandler Viridian, CBRE

CBRE has been awarded the marketing assignment for the ±240,000 SF office portion of Chandler Viridian, the $150 million, mixed-used project to be developed by Hines. The multi-faceted development project will be located on the former Elevation Chandler site near Chandler Fashion Center. Construction on the project is slated to begin 1Q 2015 and will… Read More →

AMA Members’ Projects

San Privada Apartments
October 20, 2014 by in AZRE Magazine | Featured

Highland Groves at Morrison Ranch Developer: P.B. Bell Companies General Contractor: MT Builders Architect: Todd & Associates Location: 105 N. Beebe St., Gilbert, Ariz.. Size: 228 units/Avg. 964 SF Value: $37.5M Estimated start/completion: December 2012 to July 2014 Highland Groves at Morrison Ranch is contained on 14 lush acres within the highly sought after Morrison… Read More →

Q & A with Tom Simplot, President and CEO of the Arizona Multihousing Association

Tom Simplot

Tom Simplot was named president and CEO of the Arizona Multihousing Association (AMA) in July 2008. The longtime Phoenix resident has served on the Phoenix City Council, president of the Maricopa County Board of Health, Maricopa County Industrial Development Authority, as chair of the Phoenix Historic Preservation Committee and was a member of the Phoenix… Read More →

Liberty Center at Rio Salado completes first building

Liberty Center at Rio Salado is a partnership between Liberty Property Trust and Markham Contracting Co.

Liberty Property Trust announced that it has completed the construction of its 155,000 square foot Class A office building, located at 1850 W. Rio Salado Parkway in Tempe.  The building opening marks Liberty’s first of up to potentially 11 buildings planned at Liberty Center at Rio Salado, and officially launches the innovative mixed-use business park.… Read More →

ZELL reports recent retail transactions

Scottsdale Seville, La Petite
October 17, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ZELL Commercial Real Estate Services, Inc., a full service shopping center management and leasing firm based in Phoenix, Arizona announces the following retail lease transactions: HERBAL NAILS & SPA GOING TO MARKETPLACE AT LINCOLN IN SCOTTSDALE, ARIZONA  Herbal Nails & Spa, offering organic nail, facial and waxing services, has leased 1,255 square feet in the… Read More →

Crossroads Corporate Center sells for $7.18M

Crossroads Corporate Center

CBRE has completed the sale of Crossroads Corporate Center located at the northwest corner of I-17 and Bell Road in metropolitan Phoenix. The ±105,107-square-foot office/flex building commanded a sale price of $7.18 million. Barry Gabel, Chris Marchildon, Ashley Brooks, Jim Bayless and Jenny Aust with CBRE’s Phoenix office negotiated the sale between the buyer, a… Read More →

HFF arranges acquisition financing for Camelback Center

HFF OM - Camelback Center

HFF announced it has arranged acquisition financing for Camelback Center, a 32,963-square-foot, CVS-anchored retail center in Phoenix. HFF worked on behalf of a private real estate fund advised by Crow Holdings Capital- Real Estate to secure the fixed-rate loan through Guggenheim Commercial Real Estate Finance, LLC.  Loan proceeds were used to acquire the property. Camelback… Read More →

Hines closes on purchase of 25-acre Chandler Viridian

C:UsersRogerDesktopProjectsHines - Chandler CommonsCADCD

Hines, the international real estate firm, announced today that it has closed on the purchase of the 25.5-acre site for Chandler Viridian, a mixed-use property on the northwest corner of the Loop 101/Loop 202 interchange, adjacent to the Chandler Fashion Center. Hines has been working on Chandler Viridian for nearly two years due to the… Read More →

Kitchell completes first phase of Scottsdale Bible Church renovations

Bible Church, Greg Vatt, Kitchell, WEB

Kitchell recently completed the first phase in transforming the Scottsdale Bible Church campus at Shea Blvd. and 76the Street. The work included construction of Grace Chapel, which serves as a “front door” to the entire 18-acre campus, as well as the Special Ministries classrooms and the Student Center. In addition, Kitchell remodeled administration areas, a large bathroom… Read More →

Three tenants sign, open Shops at 38th Street Plaza

Shops at 38th St Plaza, WEB
October 16, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

SRS announced three new tenants now open at Shops at 38th Street, a neighborhood shopping center located at the northwest corner of Indian School Road and 38th Street in the Arcadia area of Phoenix. The Whining Pig Beer & Wine Bar is opening their second location just one year after their first location opened at 16th Street… Read More →

Walton Group announces new senior vice president

Kip Gilleland
October 16, 2014 by in AZRE Magazine | Newsmakers

The Walton Group of Companies, with U.S. headquarters in Scottsdale, Ariz., announced that Kip Gilleland will join Walton’s land acquisitions and institutional relationships group, Walton Asset Management, as Senior Vice President. In his new role, Gilleland will oversee land acquisition and new market research in the Southwest United States in strategic growth areas like Arizona, California, Denver,… Read More →

TMC renovates expanded space in downtown Phoenix

TMC Rendering, WEB

Torres Multicultural Communications (TMC) – an independent, Latina-owned, full-service agency specializing in marketing and public relations solutions for today’s multicultural marketplace – continues to grow at a rapid pace with the relocation to a newly-renovated office space in Downtown Phoenix, in addition to launching Luna Culture Lab in the next months. According to TMC President… Read More →