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.

AZRE Forum educates a full house

AZRE Forum_DSC_0846

On Thursday, July 23, AZ Big Media hosted the inaugural AZRE Forum at the Ritz-Carlton. It was a meeting of the minds featuring the top producing brokers, most influential economic developers, bankers and developers in the state. The event sold out, with a standing-room only attendance of nearly 350 people. Another 40 people tuned into… Read More →

Partnerships form for new Troon North development

Troon North

In the first of several ventures, Remington Nevada and InterCapital Development have teamed up with locally-based Capital Asset Management (CAM), Phoenix, to purchase The Villages at Troon North Phase II, a 67,000 sq-ft office condominium project and The Villages at Troon North Phase III, a future upscale residential condominium development. Collectively, the properties sit on… Read More →

Cashen signs two leases within their 1,700,000 SF portfolio

123rf:  Andriy Popov

The first lease was signed at Mesa Fiesta Center located at Alma School Road and the U.S. 60 in Mesa.  A 25,000 s.f., ten year lease was finalized with the Feed My Starving Children organization.  The charity feeds 1,000,000 starving children around the world each year in 70 countries.  In 2014, they had over 900,000… Read More →

Phoenix Children’s expands to Biltmore Commerce Center

Best Public, Commercial Buildings - AZRE Magazine September/October 2011

Phoenix Children’s Hospital has committed to a 27,265-square-foot office lease at Biltmore Commerce Center, a Class A Camelback Corridor office building that was purchased just months ago by office investment and management expert Lincoln Property Company (LPC) and a fund managed by Oaktree Capital Management, L.P. (Oaktree). The company will move into Biltmore Commerce Center next month,… Read More →

Walton Development hires new CFO

Steven
July 27, 2015 by in AZRE Magazine | Featured | Newsmakers

The Walton Group of Companies (Walton), a privately-owned real estate investment and development group, has named Steven Friedman Chief Financial Officer of Walton Development & Management (USA), Inc. (WDM).  Friedman is an industry veteran with more than 30 years of experience and a strong track record of financial leadership and counsel. He joins Walton after… Read More →

Acquisition of Chandler office condo unit sells for $862K

Justin

Southgate Commerce Center II recently sold for approximately $862,000.  Senior Advisor, Justin Horwitz with Sperry Van Ness, LLC in Phoenix represented a client into the acquisition of an office condo unit at 7415 W. Boston St., Chandler, AZ 85226.  This transaction involved a sale leaseback.  The Seller was represented by Matt Leonard with Levrose Real… Read More →

WSM Architects wins Green Valley Recreation award

GVR

Green Valley Recreation, Inc. (GVR) has hired WSM Architects of Tucson to conduct a comprehensive assessment of GVR’s 14 facilities and develop a 10-Year Strategic Master Facility Plan. With approval of the GVR Board of Directors and the signing of the contract on July 15, WSM will begin the year-long project, which includes an assessment… Read More →

Colliers International announces recent transactions

Oak Tree Park

3333 Dunlap Associates LLC, formed by Bear Holdings Group LLC (Gary Saterbak, et al, principal) paid $8,064,000 ($28,000 per unit) to purchase the 288 unit Copper Glen apartments located 3333 W. Dunlap Ave. in Phoenix. The seller was Copper Glen Partners LP, a limited partnership in Vancouver, BC, Canada (Eyhan Caldwell, principal). The deal was… Read More →

ORION announces two multifamily transactions in Phoenix

Maryland East Apartments

ORION Investment Real Estate has announced the sale of two small apartment communities located in the Phoenix MSA. Located off the Loop 202 Freeway and Van Buren Street, Belaflora Condominiums sold for $1,255,000 or $83,667 per unit. This 15-unit portfolio sale of Class “A” Condos is part of a larger 185-unit complex within a strong… Read More →

C&W negotiates long-term lease for telemarketing company

123rf.com: feverpitched

Cushman & Wakefield of Arizona, Inc. negotiated a long-term sublease for DialAmerica Marketing, Inc. at Riverpoint, located at 3100 E. Broadway Rd. The transaction is for a new DialAmerica call center in the Valley. DialAmerica, headquartered in Mahwah, N.J., will occupy 50,267 square feet of office space at Riverpoint Building No. 2. The company’s lease… Read More →

Scottsdale’s Engel & Volkers partners with Bosa Development

real estate market

Bosa Development, the foremost leader in superior quality, luxury, design-focused waterfront residential living and S&P Real Estate have partnered with world-renowned Engel & Völkers Scottsdale to introduce Arizona residents to Bosa’s newest bayside project in San Diego, Pacific Gate. Engel & Völkers‚ Sandra Wilken, franchise broker and brokers Babbi Gabel and Mary Grassl are heading… Read More →

Multifamily property to be reverted to townhomes

Valencia-02

CBRE has completed the sale of a rental property in North Central Phoenix. The Valencia Townhome community, located at 550 West Maryland Avenue, commanded a sale price of $6.59 million. CBRE Multifamily Investment Properties’ Brian Smucker and Jeff Seaman negotiated the transaction. The buyer was Valencia Townhomes, LLC of Scottsdale, Arizona. The seller was American… Read More →

C&W | PICOR recent July transactions

Airworthy Aerospace Industries, Inc.

LEASE Airworthy Aerospace Industries, Inc. leased 16,176 square feet at 3990 S. Evans Blvd. in Tucson from Big Y, LLC.  Airworthy Aerospace’s mission has been to provide world-class support and solutions for the aviation industry.  Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord… Read More →

Flower joins Vertical Design as project architect

flower
July 25, 2015 by in AZRE Magazine | Newsmakers

Vertical Design Studios, Phoenix, announced Patricia (Trish) Flower has joined the firm as a project architect. She is a licensed architect and a LEED accredited professional with over 26 years in commercial architecture. In this role, Flower will work with retail developer clients in design, entitlements, CD production and construction administration. Flower brings more than… Read More →

Lee & Associates promotes Kurt Saulnier to Principal

kurt
July 24, 2015 by in AZRE Magazine | Newsmakers

Lee & Associates Arizona has announced the promotion of Kurt Saulnier to Principal. This significant accomplishment is the result of his strong work ethic and teamwork. Saulnier joined Lee & Associates in 2012 as an Associate and has been a consistent and significant contributor to the firm since his arrival. “Kurt is an excellent asset for… Read More →