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.

Earthworks Environmental expands, opens Florida offices

Earthworks Environmental
by in AZRE Magazine | Construction

Earthworks Environmental LLC expanded its operations to Florida and added two employees at its Arizona office, Principal Cherie Koester announced. Mark Hubbard will run the Orlando/Tampa/Jackson, Fla., office as a Lead Compliance Manager. Hubbard will be responsible for Storm Water Pollution Prevention (SWPP) manual preparation, notice of intent/notice of termination filing, SWPP program management, site inspections,… Read More →

Construction starts on McKesson Corporation offices in Scottsdale

McKesson Corporation
by in AZRE Magazine | Construction

Ryan Companies broke ground Wednesday on a 271,000-square-foot, two-story twinned office complex at the Chaparral Commerce Center, which will serve as McKesson Corporation‘s regional headquarters. Upon completion in 2017, the new building will be home to McKesson’s existing Scottsdale-based workforce of more than 1,400, with room to accommodate nearly 2,200 total jobs over the next five… Read More →

Construction unemployment rates improve in 33 states

Copper State Rubber
by in AZRE Magazine | Construction

October not seasonally adjusted (NSA) construction unemployment rates were down in 33 states and the nation on a year-over-year basis, according to analysis released Tuesday by Associated Builders and Contractors (ABC). The national NSA construction unemployment rate of 5.7 percent was down 0.5 percent from a year ago, according to data from the Bureau of Labor Statistics (BLS). Arizona… Read More →

Avnet headquarters sell for $32M

Avnet Headquarters
by in AZRE Magazine | Brokerage

The corporate headquarters of Avnet Inc. has been sold to Phoenix-based Cole Office & Industrial REIT (CCIT II) Inc. for $32 million. The Class A, 176,402-square-foot building at 2211 S. 47th St. has been the technology company’s worldwide headquarters since 1997. “This signature property provided an opportunity to acquire a global corporate headquarters with a long-term,… Read More →

$63M Mesa multifamily project breaks ground

Mesa multifamily project
by in AZRE Magazine | Multi-Family

Multifamily developer Housing Trust Group (HTG) closed on financing and broke ground on Aviva, a new $63 million, multifamily development in Mesa, according to a Tuesday announcement. The luxury gated community, located at 8350 E. Baseline Rd., will consist of 325 one-, two-, and three-bedroom apartments, a large state-of-the-art clubhouse, a 150-foot resort-style pool, and extensive green space.… Read More →

CoreNet Global Arizona to host inaugural golf tournament

by in AZRE Magazine

CoreNet Global Arizona is sponsoring an inaugural golf tournament on Feb. 7, 2017, two days after the Waste Management Phoenix Open wraps up, at the TPC Scottsdale. The event begins with a 10 a.m. shotgun start at the Tournament Players Club, 17020 N. Hayden Rd., Scottsdale. Foursome registration is $2,500 until Jan. 7, 2017; foursome… Read More →

Nominate CRE projects for 2017 RED Awards before time runs out

by in AZRE Magazine

Don’t forget to nominate your company’s biggest, best and most notable commercial real estate projects for the 2017 Real Estate Development Awards before the deadline closes on Friday, Dec. 16. Now in its 12th year, the RED Awards are Arizona’s most comprehensive annual real estate awards, recognizing the top projects of 2016 along with the people… Read More →

Land Advisors Organization to host forum, forecast on land transactions

Copyright: wollertz / 123RF Stock Photo
by in AZRE Magazine | Site Selection

Proper site selection is vitally important for any development’s success. Land Advisors Organization is hosting a forum, on Wednesday, Dec. 7 that will analyze the past, present and future of land transactions and the data behind these land deals. The program will feature industry experts such as John Burns, CEO of John Burns Real Estate Consulting; Elliott Pollack,… Read More →

Developers buy North Scottsdale land occupied by LA Fitness

North Scottsdale land
by in AZRE Magazine | Brokerage

Fenix Development purchased the land occupied by LA Fitness, located at 13220 N. Scottsdale Rd. in Scottsdale, from Bayport Scottsdale Road Associates, LP for $9.85 million, according to Cushman & Wakefield. The Cushman & Wakefield team of Brent Moser, Mike Sutton and Brooks Griffith represented the Fenix Development. Fenix Development is the developer of the Watermark… Read More →

CBRE completes $12.3 million sale of Goodwill portfolio

Photo courtesy of CBRE
by in AZRE Magazine

CBRE completed the sale of two single-tenant, net-leased Goodwill retailers located at 6161 W. Bell Rd., in Glendale and 2933 S, 99th Ave., in Tolleson. The portfolio sale commanded a price of $12.3 million and included an additional parcel of land, totaling 27,473 square feet, located adjacent to the Tolleson Goodwill. Joseph R. Compagno, Barry Gabel and Chris… Read More →

58-acres purchased in Avondale

Photo: violin / 123RF Stock Photo
by in AZRE Magazine

California-based investment firm, Virtua Partners, acquired 58-acres for $4,500,000 of undeveloped land at 99th Avenue and Encanto Boulevard in Avondale. The site is directly adjacent to a Costco location, one half mile north of Interstate 10 and one quarter mile west of Loop 101. The property will be developed by Quyp Development Services, an affiliate of Virtua. Current… Read More →

CBRE completes 3 multifamily sales totaling $199.4M

by in AZRE Magazine | Brokerage

CBRE completed three multifamily property deals across the metro Phoenix area in the past five days, totaling in $199.4 million worth of transactions. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE worked on all three of the multifamily property sales. The three deals were completed in the last five business days, according to CBRE.… Read More →

Mark-Taylor community 1st multifamily property to earn ENERGY STAR rating in Arizona

by in AZRE Magazine | Multi-Family

Mark-Taylor’s Chandler multifamily San Palacio community is the first multifamily community in Arizona to earn the U.S. Environmental Protection Agency’s (EPA’s) lucrative ENERGY STAR certification, meaning that the building performs in the top 25 percent of similar facilities nationwide for energy efficiency, and meets strict energy efficiency performance standards set by the EPA. “This is an… Read More →

GPEC renews lease at Renaissance Square

by in AZRE Magazine | Brokerage

Hines, the international real estate firm, announced it has renewed a long-term 11,976-square-foot lease for the Greater Phoenix Economic Council (GPEC) at Renaissance Square in Phoenix. GPEC, which has been in Renaissance Square since its inception, will continue occupying its space on the 25th floor. The organization renewed an 8-year lease and is updating the office into a… Read More →

Olympus Property buys Vive in Chandler

Vive  is located 1901 West Germann Road in Chandler, near the Price Road Corridor, which is home to more than 32,000 employees. (Photo courtesy of Institutional Property Advisors)
by in AZRE Magazine | Multi-Family

Texas-based property management firm Olympus Property expands its multifamily Phoenix portfolio with the acquisition of Vive in Chandler, Arizona. Vive is the second purchase in Chandler, Arizona as Olympus recently acquired the Elevation Chandler property in September 2015. Vive is the sixth apartment community to be added to Olympus Property’s sixth fund. The investment structure provides investors… Read More →