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.

CA Senior Living breaks ground on 2 communities in Arizona

by in AZRE Magazine | Construction

CA Senior Living LLC, the senior housing investment and development division of Chicago-based CA Ventures, announced it has broken ground on two senior living communities in Arizona: a 101-unit development in Oro Valley, a north suburb of Tucson, and a 115-unit community in Gilbert, a southeast suburb of Phoenix. Seattle-based Living Care Lifestyles will operate… Read More →

Industrial leads CRE investment sales in Phoenix, Colliers says

Phoenix Warehouse
by in AZRE Magazine | Investment

Sales of commercial properties in Greater Phoenix slowed down during first quarter of 2017, according to a report released by Colliers International.  Industrial activity ticked higher as other categories decreased in sales velocity. To access the full Colliers report, click HERE. In most cases, prices of commercial properties declined slightly during the first quarter.  This… Read More →

HTA closes $150M Dignity Health portfolio in Phoenix, Calif.

by in AZRE Magazine | Medical

Healthcare Trust of America, Inc. (NYSE: HTA), the largest owner and operator of medical office buildings in the United States, announced today that it closed on the previously announced medical office building portfolio in Arizona and Southern California. The total consideration for the portfolio was approximately $150 million, or $253 per square foot. The portfolio… Read More →

Check out progress of Arizona Center’s $25 million renovations

Arizona Center
by in AZRE Magazine | Construction | Retail

The $25 million Arizona Center renovations have made some progress and we’ve got photos of the recently completed areas. Developers completed work on the lobby and tenant amenities floor of the One Arizona Center building at the Arizona Center. Click on the slideshow to view the photos in fullscreen   Provided photos The renovations at… Read More →

DeMichele Group buys Chandler Airpark asset for relocation

by in AZRE Magazine | Industrial

Newmark Grubb Knight Frank (NGKF) announced the purchase of 2110 S. Douglas Drive, Building B, in Chandler, AZ. The 17,149-square-foot Class A industrial asset located in the Chandler Airpark will be the new home for DeMichele Group, a privately owned provider of software and equipment for the fenestration industry. NGKF’s Executive Managing Director Jerry Jacobs… Read More →

Vestar secures $8.67M financing for recently acquired retail center

by in AZRE Magazine | Retail

Vestar, one of the leading privately held real estate companies in the western United States, announced today that it has secured a 15-year permanent loan with the Lincoln National Life Insurance Company in the principal amount of $8,673,000 for the recently acquired Twin Creeks Marketplace. The 43,134-square foot grocery-anchored neighborhood center is located at 1265… Read More →

Construction job growth led by nonresidential sector

nonresidential construction
by in AZRE Magazine | Construction

National construction employment remained largely unchanged for the second consecutive month, adding 5,000 net new jobs on a seasonally adjusted basis in April, according to analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors (ABC). The nonresidential construction sector added 3,200 net new jobs in April after adding 8,500… Read More →

Scottsdale Airport Operations Center earns LEED Silver

by in AZRE Magazine | Building Green

The Airport Operations Center at Scottsdale Airport is the hub for monitoring daily operations, like safety, security and maintenance of the airfield. This building is a state-of-the-art facility and also environmentally friendly. The total cost for the project was $4.9 million. The U.S. Green Building Council recognized the City of Scottsdale’s Airport Operations Center, 15255… Read More →

W.E. O’Neil Construction breaks ground on assisted living facilities

by in AZRE Magazine

CA Ventures and W.E. O’Neil Construction Co. of Arizona announced they have broken ground on two new assisted living and memory care communities in Gilbert and Oro Valley, Arizona. The Gilbert project, designed by BKV Group, is located at the corner of Morrison Ranch Road and Higley Road. This 98,000 square feet, two-story community is… Read More →

Lowe’s ground lease trades hands for $22.7 million

by in AZRE Magazine

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 119,336-square-foot, triple-net Lowe’s ground lease in Tempe, Arizona. The sales price is $22.7 million.             “Highlighting the strength of the asset’s positioning within two of the area’s largest urban centers, central… Read More →

JLL closes $26.7M ASU Research Park Building

by in AZRE Magazine

On behalf of a joint venture between Phoenix-based ViaWest Group and Chicago-based Blue Vista Capital, JLL today announced the sale of Nexus @ ASU Research Park. This sale is an example of investors’ growing interest in the strong office market in Phoenix, largely driven by the area’s annual high-tech employment growth of 8.9 percent. Gramercy… Read More →

Watt Communities sees domino effect of success

Watt Communities of Arizona today announced that it has reached 100 percent sold out at Dorsey Lane, the residential townhome community near downtown Tempe that marked the company’s entrance into Arizona’s upscale urban infill housing market. Today, Watt’s presence has expanded into a $73 million project pipeline, with six properties either under construction or now… Read More →

Construction cam lets viewers track Phoenix Raceway project

Camping World 500
by in AZRE Magazine | Construction

Race fans will now be able to keep continuous track of the construction progress at Phoenix Raceway by visiting, as the modernization project’s webstream camera goes live. The DC Solar Construction Cam will provide fans with a way to keep tabs on the progress of the Phoenix Raceway Project Powered by DC Solar on… Read More →

NAI offices negotiate $9.675M purchase of retail properties

by in AZRE Magazine

The NAI Puget Sound Properties and NAI Horizon Investment Sales teams of Senior Vice Presidents Wyk Parker, Lane Neville, and Barbara Lloyd represented the buyer in the $9.675 million acquisition of two retail buildings at Litchfield Marketplace.      The new retail property is anchored by Fry’s Marketplace and Ace Hardware. The anchored center is… Read More →

Land Advisors Organization hires new president

by in Az Business Leaders

Land Advisors Organization named Brent Long, a former Berkadia Investment Sales executive, as its newest president. Brent Long is a 30-year veteran of the commercial real estate industry that includes brokerage, investment and technology. Most recently, as president of Berkadia Investment Sales, Long led it’s apartment sales team that spanned nationwide. Berkadia Investment Sales was formed… Read More →