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.

Vestar to develop at Crossroads Towne Center

Colliers International in Greater Phoenix recently negotiated two separate long-term leases for a restaurant and dental office at a multi-tenant retail building soon to be under construction at Crossroads Towne Center in Gilbert. Local shopping center owner, developer and manager, Vestar Development Company of Phoenix, is developing a 7,800-square-foot building at 3787 S. Gilbert Road.… Read More →

Phoenix tackles public transit head on

LightRailQuestion
December 19, 2014 by in Blogs

Remember what it was like to rely on Phoenix public transit last century? Not in the early part of the last hundred years, but as recent as the 1990s. Phoenix had limited bus service and no service after midnight or Sundays. It was not the best system for a rapidly growing city. At that time,… Read More →

Chandler entertainment district gets 60KSF upgrade with The Row

Vintage Partners, Kitchell and RSP Architects will construct an Alamo Drafthouse in Chandler. Courtesy RSP Architects

Vintage Partners, the Phoenix-based commercial real estate development and investment company, announced its selection by the Chandler City Council to develop the The Row in downtown Chandler’s newly designated entertainment district, an all-new mixed used project on the SW corner of Arizona Avenue and Chandler Boulevard. Created in partnership with Alamo Drafthouse Cinema, this stylish… Read More →

Lisa Autino joins Caliente Construction

Lisa Autino
December 18, 2014 by in AZRE Magazine | Construction | Newsmakers

Caliente Construction welcomed Lisa Autino, CPA, CCIFP as the organization’s new controller on Thursday. Autino will manage the accounting operations, financial community relationships and lead the effort for continuous improvement in the financial and project management platforms of the firm. Autino began her career in public accounting after graduating from NAU in 1986 with a Bachelor… Read More →

Propak Logistics leases 50KSF in Phoenix

Estrella BP, CBRE, WEB
December 18, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has completed a 48,735-square-foot lease at Estrella Business Park located at 1010 S. 65th Avenue in Phoenix. Propak Logistics, Inc. has leased the space marking the companies first location in metropolitan Phoenix and bringing the property to 100 percent leased. Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s Phoenix office, along with Bob… Read More →

Historic Welnick Bros. market slated for infill project

Welnick Skyline Rendering, WEB

CBRE has completed the sale of Welnick Bros. Marketplace located at 345 W. Van Buren St. in downtown Phoenix. The property, which has been earmarked for a future, urban-infill retail project, commanded a sale price of $930,000. Christoper Ackel and Pat Horan with CBRE’s Phoenix office negotiated the transaction on behalf of both buyer and… Read More →

Rosalinda Apartments sells in Phoenix for $545K

Rosalinda Court Apartments_9-Units_Globe Street
December 17, 2014 by in AZRE Magazine | Economy | Featured

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, recently closed the transaction for Rosalinda Apartments, a 9-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $545,000 equates to $60,556 per unit or $61.44 per square foot. Jack A. Cardinal, a Managing Director of the… Read More →

BH Properties buys Plaza at Squaw Peak for $25M

Plaza SQ_PHOTO, WEB

On behalf of their client, IX CW Plaza Squaw Peak, LP, (an affiliate of Starwood Capital Group), Capital Asset Management announced today the successful sale of The Plaza at Squaw Peak, a 428,044-square-foot class-B office building, to BH Properties, a Los Angeles commercial real estate investment company. Located on 16th Street and Morten Avenue in… Read More →

New Ownership Renovates Scottsdale Hotel

Scottsdale_lobby-pro-search-plus.jpg.1920x807_default
December 17, 2014 by in AZRE Magazine | Featured | Hospitality

A critical financing package has led to an upgrade of one of south Scottsdale’s best-known hospitality facilities and will help modernize it to reflect the revitalization of the McDowell Road Corridor. The Best Western Papago Inn at 7017 East McDowell Road in south Scottsdale has undergone renovations and is now the Magnuson Hotel Papago Inn. The revitalization of the facility comes… Read More →

Peoria property sells for $2.1M

Lee and Associates, Industrial
December 16, 2014 by in AZRE Magazine

A 4-acre industrial property with two buildings totaling 18,373 SF at 12268 N. 92nd Dr. in Peoria sold for $2.1M, or $114.30 per SF. Matt Hobaica, principal with Lee & Associates brokered the transaction. The seller was One Cat Development Co., LLC of Peoria. The buyer was JAG Properties III, LLC of Shawnee, Kansas, dba… Read More →

PHX Architecture designs ASU doughnut shop

Fractured Prune
December 16, 2014 by in Architecture | AZRE Magazine | Construction | Featured

PHX Architecture has completed designs for a new doughnut shop near Arizona State University’s Tempe Campus- Fractured Prune Doughnuts. The shop is located in Tempe on Veterans Way and College Avenue inside of the new University House residential high rise. The shop is expected to open in late January, just in time for the Super… Read More →

Shops at Dynamite & Tatum sells for $1.9M

DynamiteTatum, WEB
December 16, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has completed the sale of the Shops at Dynamite & Tatum, a retail strip center located at 28255 N Tatum Blvd, in Cave Creek, Ariz. The property commanded a sale price of $1.9 million. Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office negotiated the transaction on behalf the seller, Bainbridge Island, Wash.-based Pacific… Read More →

Young’s Market Company leases 250KSF in Phoenix

Youngs Market, WEB
December 16, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cassidy Turley announced Tuesday that Young’s Market Company of Arizona leased 248,900 square feet at 402 S. 54th Pl. in Phoenix. Young’s Market Company is one of the nation’s largest distributors of wines and spirits with operations in California, Hawaii, Arizona, Oregon, Washington, Alaska, Idaho, Utah, Montana and Wyoming. Cassidy Turley’s Executive Managing Directors Andy… Read More →

Two Brothers Brewing Co. to open in Old Town Scottsdale

Rendering courtesy of PHX Architecture

PHX Architecture is currently designing a new restaurant, bar and brewery located in Old Town Scottsdale for Illinois-based Two Brothers Brewing Company. Formerly the SaddleRanch Chop House Restaurant, this renovation will bring a new brewery concept to the Old Town atmosphere, and have indoor and outdoor dining options, as well as an entire brewery system inside.… Read More →

Op-Ed: Read this before locking out a commercial tenant

123rf.com, tatiana53

Most commercial landlords and property managers are aware that, in Arizona, if a commercial property tenant neglects or refuses to pay rent and is in arrears for more than five days, or if a tenant violates another provision of the lease, under certain conditions and circumstances, Arizona law allows the landlord the option to reenter… Read More →