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.

CBRE will relocate its Phoenix office

CBRE
by in AZRE Magazine

CBRE Group, Inc. announced plans to move its Phoenix office from its current location in Tower III to Tower IV of the iconic Esplanade complex in the Camelback Corridor. The new office is part of CBRE’s global “Workplace360” initiative, the company’s leading-edge approach to workplace strategy designed to promote flexibility, mobility and productivity through technology-enabled,… Read More →

Phoenix industrial facility sells for $2.55M

industrial facility
by in AZRE Magazine | Industrial

Arizona-based Commercial Properties, Inc. (CPI) negotiated the sale of an industrial building at 6902 W. Hadley St. in Phoenix. Lee & Associates represented the tenant, Sun Country Trailers, who exercised their lease purchase option and purchased the property for $2.55 million. The building is approximately 51,250 square feet, and was originally built in 1996 and is… Read More →

Lee & Associates hires retail leasing and investment principal

ABI Multifamily
by in AZRE Magazine | Newsmakers

Lee & Associates Arizona hired Sean M. Bishop, CCIM as principal. Bishop brings extensive experience in retail investment and tenant and landlord representation. Since 2008, Bishop was a principal and designated broker at Middlefork Commercial, LLC, a Phoenix-based commercial real estate firm that provided leasing, investment sales, tenant representation and property management services. “We are pleased to have… Read More →

Signs of life: medical office leasing gains momentum

medical office
by in AZRE Magazine | Brokerage | Newsmakers

Plaza Companies’ Brokerage Services Team secured six significant new leases as part of increasing momentum in the medical office real estate sector. The six leases exceed 39,000 square feet, ranging from 3,000 square feet to 12,131 square feet and boasting a total value of more than $4 million. Sharon Harper, president and CEO of Plaza Companies, says the six transactions were representative of an… Read More →

WFG National Title moves to Camelback Corridor

Totaling 104,618 square feet, the 2777 building sits at the southwest corner of 28th Street and Camelback Road, where WFG National Title Insurance is opening its new offices. (Photo courtesy of JLL Phoenix)
by in AZRE Magazine | Brokerage

A prime location in the heart of the Camelback Corridor attracted WFG National Title Insurance Company (WFG) to a new lease at 2777 E. Camelback Rd. WFG will relocate from 1420 E. Missouri Ave. in Phoenix into 6,058 square feet on the ground floor at the 2777 building in November. It joins current building tenants… Read More →

Apex Circuit Design creates tracks for Pinal County motorsports complex

Danrick Builders
by in AZRE Magazine

Attesa, the 2,360-acre recreational motorsports destination being developed by Danrick Builders near Casa Grande, Arizona will feature two world-class road racing courses designed by the best circuit design company in the industry. Apex Circuit Design Ltd. of Buckinghamshire, England is designing two separate 2.8-mile road courses plus a karting track, driver experience center and a… Read More →

AAED will examine impact of human capital on housing

The Home Furnishing & Design Show will debut March 28-29, 2015, at WestWorld of Scottsdale.
by in AZRE Magazine | Events

The Arizona Association for Economic Development’s (AAED) October luncheon will feature a panel discussion on Human Capital Affecting Housing Trends. It will be held on Oct. 11 from 11:30 a.m. to 1:15 p.m. at 2901 N. Seventh St. in Phoenix. The discussion will include views from companies about how their strategy on the access to… Read More →

Garden-Style Apartments in Phoenix Sell for $21M

Maya Linda, a 360-unit apartment community, located at 8222 N. 19th Avenue in Phoenix was sold today for $21 million.
by in AZRE Magazine | Brokerage | Newsmakers

Cushman & Wakefield announced today the $21 million sale of Maya Linda, a 360-unit apartment community located at 8222 N. 19th Ave. in Phoenix, to Phoenix-based Pacific Real Estate Partners. Jim Crews and Brett Polachek from the Cushman & Wakefield Phoenix office represented the owner, MG Properties of San Diego, Calif. “This property received significant buyer interest due to its… Read More →

HFF arranges $210M in financing across Arizona, other markets

HFF
by in AZRE Magazine | Finance & RE Law

Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a total of $210 million in first lien financing for Westwood Financial Corp comprising 10 multi-tenant retail centers totaling 973,985 square feet in Arizona, California, Kansas, North Carolina and Texas markets. HFF worked on behalf of the borrower, Westwood Financial Corp., in advising them… Read More →

Demand for new industrial space rising, JLL Phoenix says

Customers looking for increased efficiencies are flocking to this new Class A space, which features amenities such as wide column spacing and clear heights of up to 36 feet. This trend is actively playing out at Airport I-10, in the airport submarket. (Photo courtesy of JLL Phoenix)
by in AZRE Magazine | Industrial

The delivery of more than 2.8 million square feet of new industrial construction in Phoenix during the first half of 2016 has made an impact on the Valley, says the Phoenix office of JLL. In some cases, the additional industrial spaces have pushed industrial rental rates up by as much as 36 percent higher than their… Read More →

BOMA Greater Phoenix announces 2016-2017 Vice Chair

BOMA Greater Phoenix
by in AZRE Magazine

BOMA Greater Phoenix announced that Susan Engstrom, BOMA Fellow, RPA, FMA, recently was named the 2016-2017 Vice Chair of BOMA International’s BOMAPAC Council. BOMAPAC is BOMA International’s political action committee established to support political candidates who show a commitment to commercial real estate. Currently serving as Senior Manager at Main Street Real Estate Advisors in Phoenix, Engstrom… Read More →

3 retail buildings coming to Williams Field and Val Vista Roads

retail
by in AZRE Magazine

Scottsdale-based developer SimonCRE purchased ±3.04 acres of land at the southeast corner of Williams Field Road and Val Vista Road and will develop three retail buildings totaling ±15,000 square feet; a ±9,900-square-foot multi-tenant retail building, a 3,000-square-foot freestanding restaurant building, and a 3,009-square-foot freestanding building. The site is located approximately one mile west of SanTan… Read More →

Loco Patrõn Mexican Brewery expands to North Scottsdale

Loco Patrõn Mexican Brewery
by in AZRE Magazine

Longtime Valley restaurant operator, Loco Patrõn, leased the former Salty Senorita building on Northsight Boulevard for a new Loco Patrõn Mexican Brewery. The area is bustling with new restaurants, retailers and multifamily development. A luxury 297-unit apartment building is being constructed directly behind the Loco North building, along with the popular breakfast and weekend brunch… Read More →

60,000 SF retail center to be built at Pima Center

Pima Center
by in AZRE Magazine

MainSpring Capital, developer of the 232-acre mixed-use Pima Center, announced plans for its new retail development, The Block at Pima Center. The Pima Center recently announced plans for a $30 million senior living facility and a 150,000-square-foot light industrial facility. Located on the Northwest Corner of the Loop 101 and Via de Ventura on the… Read More →

DLR Group acquires Westlake Reed Lekosky

homes
by in AZRE Magazine

DLR Group CEO Griff Davenport, AIA, announced Tuesday that Westlake Reed Leskosky (WRL) is joining DLR Group. Together, DLR Group and WRL create a global design firm providing integrated architecture, engineering, interiors, planning, building optimization and specialty consulting services. The strategic aim is to deliver a wide range of building type expertise to a diverse group of… Read More →