Author Archives: 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.

One Step Beyond leases 12KSF in Surprise

The Offices at Reems in Surprise pic 2, WEB
July 16, 2014 by in AZRE Magazine | Brokerage | New to Market

Colliers International in Greater Phoenix recently completed an 11,800-square-foot office lease in Surprise for One Step Beyond, Inc., a Peoria-based day training organization for individuals with developmental disabilities. One Step Beyond is leasing space at The Offices at Reems, an office condo project. The tenant signed a 10.5 year-lease for two buildings located at 15527… Read More →

New City Church buys office shell in downtown Phoenix

Photo credit CoStar

Colliers International in Greater Phoenix has recently completed the sale of a Class C office shell in downtown Phoenix for $2.3 million, or $130 a square foot. Phoenix-based New City Church purchased the building, located at 1300 N. Central Ave., from Drapac Group of Los Angeles. The New City Church has experienced tremendous growth in… Read More →

North Pointe business park in Utah refinanced by Churchill Commercial Capital

Northsight, WEB

Churchill Commercial Capital, Inc. has arranged a $36.50 million first mortgage and $4 million mezzanine loan secured by the 100 percent leased North Pointe Business Park Buildings C, D and E in American Fork, Utah. In addition to the debt, replacement equity for the ownership was arranged by Churchill. The loans were funded by a… Read More →

Palisades Private Capital Fund acquires Chandler Corporate Center

ChandlerCorpCenter, WEB

Palisades Private Capital Fund 1, a $50-million Fund created by Palisades Mexico Partners (PMP), has acquired Chandler Corporate Center, a two-story, 67,561-square-foot Class A office asset in Chandler, Ariz., for $13.9 million. PMP is a joint venture of Joaquin de Monet, founder and managing principal of Palisades Capital Realty Advisors, LLC, an investment management and… Read More →

CPI sells 10KSF masonry building in Chandler


Commercial Properties, Inc., announced the sale of a 10,196 SF industrial service building located at 4041 W. Milky Way in Chandler, Ariz. Leroy Breinholt of CPI’s of Tempe office represented the owner in this transaction. The masonry building was built in 2006, has a fenced yard, and is a single-tenant building formerly owned by Stellar… Read More →

Lee & Associates reports two industrial transactions in Tempe

609 W. Knox, WEB
July 15, 2014 by in Blogs

59,375 SF Manufacturing Building Sells for $2.4M A Tempe manufacturing building at 1531 W. 17th St. in Tempe, sold for $2.4M. The 59,275 SF facility brought a price SF of $40.42. The transaction was completed on June 26. Lee & Associates principals, Matt Hobaica and Matt McDougall represented the seller, JCS, LLC of Tempe. The… Read More →

Cire Equity acquires Pecan Promenade retail center in Tolleson

Pecan Promenade, WEB
July 15, 2014 by in AZRE Magazine | Brokerage

Cassidy Turley announced today that they have been awarded the leasing assignment for Pecan Promenade, a ±40 acre, ±336,023 square foot (sf) retail center on the northeast corner of 99th Avenue and Lower Buckeye Road by the property’s new owner, CIRE Equity of La Jolla. Cassidy Turley’s Brad Douglass and Chris Hollenbeck have the leasing… Read More →

Green Street Communities hires two specialists for Phoenix, Arcadia projects

David Brantner
July 15, 2014 by in AZRE Magazine | Blogs | Construction | Newsmakers

Derek Jarr, CEO of Green Street Communities, INC. (GSC) announced the recent hires of David Brantner as Construction Operations Manager and Larry Gamso as Construction and Land Development Specialist. Both individuals join a dedicated team of designers, contractors, architects and sales associates working to provide timeless and high-quality residential development projects. “Green Street Communities is… Read More →

Jeff Hooper named ABA’s director of apprenticeship and training

Jeff Hooper, ABA
July 15, 2014 by in AZRE Magazine | Construction | Newsmakers

Jeff Hooper has been appointed the director of apprenticeship and training for the Arizona Builders’ Alliance, according to ABA Executive Director Mark Minter. Hooper will oversee the day-to-day operations of the ABA, AGC Education Fund and its programs in Phoenix, Tucson and Casa Grande. Hooper comes to the ABA from Seattle Wash., by way of… Read More →

JLL completes one of the largest industrial leases of the year in SW Phoenix

Durango, WEB

On behalf of Clarion Partners, the Phoenix office of JLL has completed a 93,489-square-foot lease with Benson Industries, LLC at Durango Commerce Center in Phoenix. The deal represents one of the largest industrial lease transactions in Phoenix’s Southwest Valley submarket this year. It also brings the 670,000-square-foot, two-building Durango Corporate Center to 91 percent occupied and locates… Read More →

Colliers reports two industrial transactions in Scottsdale

91st Street

$2.9 Million Sale of 7327 E. Tierra Buena Lane in Scottsdale Colliers International in Greater Phoenix announces the $2.9 million sale of a 21,008-square-foot office/warehouse/flex building at 7327 E. Tierra Buena Lane in Scottsdale. The property was built in 1996. Henry Mohrschladt of Newport Beach, Calif., purchased the property from TR & RT Properties, Inc.… Read More →

Ground breaks on second building at Liberty Center at Rio Salado

Liberty Center at Rio Salado, a Class A LEED Silver office development in Tempe.

Liberty Property Trust will break ground this week on its second building at its new park, Liberty Center at Rio Salado in Tempe. Located at 1910 W. Rio Salado Parkway, Building Two will be a two-story, 156,030 square foot Class A office building. The project is designed to achieve LEED® Silver certification and the total… Read More →

CBRE reports recent Tucson transactions

58 W. Congress St., Tucson, Ariz.

CBRE’s Tucson office has released the following recent leasing transactions for the greater Tucson area: Ridgewood Associates, a full-service public relations and integrated marketing communications firm, has leased 2,378 square feet of office space at the Pioneer Building located at 100 N. Stone Ave. in Tucson, Ariz. Ridgewood Associates was represented by David Montijo and… Read More →

Plaza Fountainside shopping center sells for $4.1M

Plaza Fountainside, WEB
July 14, 2014 by in AZRE Magazine | Brokerage | Featured

After receiving close to a dozen offers during the 30-day marketing period, ORION Investment Real Estate is pleased to announce the closing of Plaza Fountainside located at 12645 North Saguaro Boulevard in Fountain Hills, Arizona for $4,100,000 ($178/SF) to LIPA, LLC and KUNA, LLC, family partnerships with principals in California and Arizona. The seller was… Read More →

Cassidy Turley releases Q2 ‘Market Snapshots’


Cassidy Turley has released its Q2 market snapshots for Phoenix. The brokerage firm reported the following market trends: “The metro Phoenix economy continues to post positive gains, adding 24,000 net new jobs year-over-year through the second quarter 2014 with a total employment base of 1,830,000 jobs. Moody’s recently raised its employment forecast for year end… Read More →