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.

Caliber acquires Holiday Inn & Suites near airport

Phx Holiday Inn & Suites

The 44th and McDowell Hotel Group, LLC, an affiliate of the Caliber Distressed Real Estate Income Fund (CDIF, LLC) private equity fund managed by Caliber Companies, has announced its acquisition of the 4-story, 228-room Holiday Inn Hotel & Suites Phoenix Airport North in Phoenix Arizona. The hotel is the Company’s third hospitality acquisition in three… Read More →

Cresa negotiates on behalf of Southwest Jet Center

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Southwest Jet Center, owner of the largest private hangar at Scottsdale Airpark, recently purchased 73,826 SF on 5.6 acres of land at Phoenix-Mesa Gateway Airport, 5615 South Sossaman Road, in Mesa. Chris Walton, Gary Gregg, Eric Walker, and Ryan Burkett of Cresa Phoenix represented the buyer. The landlord, GE Capital, was represented by JLL. “We… Read More →

Energy Systems Design promotes Maria Leshner

esd
July 5, 2015 by in AZRE Magazine | Newsmakers

ESD has announced that Maria Leshner as been promoted to Business Development and Marketing Manager of Energy Systems Design, Inc. In her new role, Ms. Leshner will continue to manage ESD’s internal marketing efforts and, in addition, will coordinate and execute strategic business development plans designed to differentiate and promote ESD’s services, as well as… Read More →

Deer Valley Medical Buildings achieves maximum occupancy

6704 Deer Valley lll Photo Exterior

Ensemble Real Estate Solutions has closed three new leases totaling 25,000 square feet at Deer Valley Medical Office Buildings II & III on the campus of HonorHealth Deer Valley Medical Center. These new deals bring the two medical office buildings (totaling more than 154,000 square feet) to 100 percent occupancy. Recent transactions that brought the… Read More →

Natural Grocers to open at Scottsdale Towne Square

123rf.com: Jennifer Huls

DTZ, a global leader in commercial real estate services, has announced that Colorado-based Natural Grocers by Vitamin Cottage signed a lease for 27,827 square feet at Scottsdale Towne Square, 13802 N. Scottsdale Road.  DTZ Managing Director’s Cliff Johnston and John Appelbe represented the landlord, Holualoa Scottsdale Retail, LLC. Established in 1955 by Margaret and Philip… Read More →

CBRE recent transaction report for Southern Arizona

123rf.com: hanohiki

CBRE’s Tucson office has released the following recent transactions: Stewart Title & Trust of Tucson has leased 1,917 square-feet of office space at 3573 E. Sunrise Dr., La Paloma from DHS Property Investments. The tenant and landlord were represented by David Montijo and Bruce Suppes with CBRE’s Tucson office. Fidelity Brokerage Services LLC has leased… Read More →

Brentwood apartment property in Phoenix sells for $9.65M

brentwood

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Brentwood, a 224-unit apartment property in Phoenix. The asset sold for $9,650,000. Cliff David, a Marcus & Millichap vice president investments, and Steve Gebing, a senior director with Institutional Property… Read More →

Acacia Health Center undergoes $13.2M expansion

Acacia Health Center Exterior

Sagewood, a Continuing Care Retirement Community (CCRC) is expanding its onsite Acacia Health Center to double in size, according to Sagewood’s Executive Director, Stewart Ingram. The $13.2 million expansion will include another 36,300 square feet to Acacia Health Center at Sagewood. The addition of 60 beds will include a 20-bed memory care neighborhood and 40… Read More →

Tempe office warehouse building trades at $3.3 Million

tempe

A 33,400 SF warehouse at 1917-1965 W. First St., in Tempe near Rio Salado Pkwy. and Priest Dr. sold for $3,316,010 or $99.28 per square foot in an all-cash deal. Rick Robertson, Principal with Lee & Associates represented both the buyer and seller in this transaction. The buyer was Danari Temple, LLC an investment partnership… Read More →

De Rito Partners announce recent commercial transactions

123rf.com: feverpitched

Jamba Juice joins Shops at Norterra Jamba Juice finalized a deal to add a new location in North Phoenix, at the northwest corner of Happy Valley Road and Norterra Parkway. John Palmieri represented the tenant in completing the lease of the 1,057-square-foot space. Sonoran Cycles joins new mixed-use development in Surprise Sonoran Cycles signed a… Read More →

Zenefits continues rapid growth with new Tempe office building

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Zenefits, the free, cloud-based human resources technology company that automates and eliminates HR administrative work for businesses, has announced that due to its rapid growth and hiring it has signed a 10-year lease for a large, new office in Tempe, which will be its second office site in greater Phoenix. The San Francisco-headquartered company will… Read More →

Alliance Residential named “Top Companies to Work For”

123rf.com:  Elnur Amikishiyev

Alliance Residential, the largest multifamily developer and seventh largest multifamily manager in the nation, has been named one of CareerBuilder’s Top Companies to Work for in Arizona by Republic Media (The Arizona Republic, azcentral.com, La Voz) and CareerBuilder. This is Alliance’s second year on the annual listing. Companies are evaluated and selected based on a combination… Read More →

$7M JLL Hangar sale shows Phoenix aerospace is flying high

hangars

The Phoenix office of JLL has closed the $7 million sale of The Hangars at 5615, a major, state-of-the-art office and hangar facility with direct runway access to Phoenix Mesa-Gateway Airport, the hub of Phoenix’s up-and-coming aerospace corridor. Although the property is currently 100 percent vacant, it is being acquired by an investor with an expected commitment for… Read More →

SimonCRE purchases retail building from Los Olivos Norte

LosOlivos__SimonCRE

Commercial real estate developer SimonCRE purchases a +/- 7,000 SF retail building from a popular Scottsdale restaurant located within the Sonora Village Shopping Center. The building is located at 15544 N. Pima Road in Scottsdale, just off Frank Lloyd Wright and the Loop 101 in Scottsdale, AZ. After nearly 20 successful years in business, Los… Read More →

Capital One provides an $11.9 million Freddie Mac loan

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Capital One has announced that it has provided an $11.9 million Freddie Mac fixed-rate loan to refinance Catalina Village, a 376-space, all-age manufactured housing community (MHC) in Phoenix, Arizona. Damon Reed, Senior Vice President and Capital One’s Director of MHC Finance, originated the transaction. The key principal is a repeat customer of both Capital One and… Read More →