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.

Hoskin-Ryan signs long-term Phoenix lease Vitaliy Vodolazskyy
by in AZRE Magazine | Brokerage | Office

Hoskin-Ryan Consultants, Inc., a full-service, civil engineering firm signed a long-term, 12,808 SF office lease at 5050 @ Camelback located near 40th Street and Camelback Road. Craig Coppola and Andrew Cheney, Principals and Gregg Kafka, Associate with Lee & Associates, represented the landlord, California-based Mark IV, Capital Inc., while Scott Nelson with Commercial Properties, Inc.… Read More →

Blue Desert Interiors brings luxury home style to office

Blue Desert Interiors
by in AZRE Magazine

Blue Desert Interiors recently completed a custom tenant improvement project for a Scottsdale financial planner at Edward Jones.  The 1,157 square foot office is located at 9590 E Ironwood Square Dr. #Suite 235 in Scottsdale. “The project was unique because most Edward Jones offices follow a corporate color and furniture scheme,” said Mark LaPalm, IFDA… Read More →

$57M Downtown Phoenix apartments to open in February

Downtown Phoenix Apartments
by in AZRE Magazine | Multi-Family

Two Phoenix apartment complexes near Washington and 12th Streets will have a public grand opening on Feb. 25. Phoenix Mayor Greg Stanton will commemorate the grand opening of Capital Place, a $57 million 292-unit apartment complex. The open house event will showcase the new project and highlight downtown living. In partnership with neighboring businesses, the… Read More →

Chandler Comfort Inn sold for $7.7 million feverpitched
by in AZRE Magazine | Hospitality

The Chandler Comfort Inn sold to a California-based hotel group for $7.7 million, and Tower Capital arranged a $5,600,000 acquisition loan for the purchase. The 129-room Comfort Inn is located near Chandler Boulevard and 56th Street. The 4-story limited service hotel was originally built in 1997 and renovated in 2012. The $5.6 million dollar loan… Read More →

Anthem property sells for $3.09M Oleg Dudko
by in AZRE Magazine | Brokerage

An Anthem property, that Valley Child Care leases, sold to Ira Stegner for $3,090,000 by Anthem Heritage, LLC. The building is located near Daisy Mountain Drive and Anthem Way, and is a 10,014 square-foot freestanding building. Valley Child Care & Learning Center is the sole-tenant of the property, and is in an absolute lease until… Read More →

Wells Fargo sells Tempe office building for $6.25M

Sold Sign
by in AZRE Magazine | Office

Well Fargo sold its office building near Broadway Road and Roosevelt Street in Tempe for $6.25 million to Evergreen Devco. The bank secured a short-term lease to continue occupancy of the 75,000-square-foot building. Senior Directors Don T. Rodie and Jim Crews of Cushman & Wakefield negotiated the sale and lease on behalf of Wells Fargo.… Read More →

Former Giant Industries offices sold for $8.5M Jakub Jirsak
by in AZRE Magazine | Office

The former Giant Industries corporate headquarters sold for $8.5 million to an investor who plans to convert the property into an assisted living facility. Generations at Pinnacle Peak, LLC of Grand Haven, MI, acquired the property, which is located at 23733 N. Scottsdale Rd., from United Insurance Co. of America, a company formed by Kemper… Read More →

Redeveloped Phoenix office space sells for $3.9M

BallyRedev-Exterior Building Rendering.jpg
by in AZRE Magazine | Office

CBRE completed the sale of a commercial property that had been redeveloped into an office space for $3.9 million. The property was formerly a Bally Total Fitness facility, and is located in the Arizona Business Park at 15401 N. 29th Avenue in Phoenix. Ashley Brooks and Jim Bayless with CBRE’s Phoenix office negotiated the transaction.… Read More →

Jokake Construction adds marketing project manager

Jokake Construction
by in AZRE Magazine | Newsmakers

General contractor, Jokake Construction, hired Allison Black as the company’s new marketing project manager. In her new role, Black will be managing marketing programs at Jokake both internally and externally and working with the marketing, business development and leadership teams on website and integrated campaigns. Black started with Jokake in December 2015 and is poised… Read More →

$50M Easy Street project coming to Carefree

Easy Street
by in AZRE Magazine | Multi-Family

A $50 million, exclusive condominium project, Easy Street, is coming to Carefree with plans to break ground in June to be finished by the Fall of 2017. Easy Street will feature 44 luxurious, amenity-stocked condos ranging in price from $600,000 to $2,500,000.  The project features some of Arizona’s most scenic mountain views and a resort-level… Read More →

Opus developing 390KSF industrial project near Sky Harbor

Opus Developing
by in AZRE Magazine | Industrial

Opus Development Company, LLC purchased a 23-acre parcel of land at the northeast corner of 7th and Elwood Streets in Phoenix, and plans to develop a 390,000 square-foot industrial property on the site. The project will break ground in February and is called Opus Airport Industrial. Opus Airport Industrial will feature a 390,000-square-foot cross-dock warehouse… Read More →

Desert Vista Commerce center sells for $8.9M

Desert Vista Commerce Center
by in AZRE Magazine | Brokerage

BKM Capital partners purchased a Tempe multi-tenant industrial center, Desert Vista Commerce Center, for $8,914,000. The 98,678 square foot, three-building complex was purchased in a value-add transaction. Kidder Mathews commercial real estate brokers, Darren Tappen, Mike Kasulaitis, and Aric Adams, represented BKM Capital Partners in the transaction. Washington-based Desert Vista LLC – Richard Donovan, a… Read More →

Roosevelt Business Park sells for $14.9M

Roosevelt Business Park
by in AZRE Magazine | Brokerage

The Roosevelt Business Park, a four-building industrial park near Roosevelt Street and 75th Avenue , was sold to California-based WLA Realty Group for $14.9 million. Cushman & Wakefield Senior Vice President Gary Anderson, Senior Managing Directors Paul Boyle and Rick Danis, along with Associate Mike Gilbert negotiated the sale transaction. WLA Realty Group bought the… Read More →

Phoenix warehouse sells for $3.57M

by in AZRE Magazine | Brokerage | Industrial

California-based Daum Commercial Real Estate Services negotiated the $3.57 million sale of a 35,318-square-foot industrial warehouse located at 21615 N. 7th Avenue in Phoenix. Chris Rogers and Trevor McKendry of Daum Phoenix represented both the buyer and seller in the transaction. Bob Lundstedt, first vice president of Daum Phoenix, assisted in representing the seller. The… Read More →

Plexus Worldwide moves into new headquarters

Plexus Worldwide
by in AZRE Magazine | Brokerage

Scottsdale-based Plexus Worldwide, a direct-marketing weight-loss and health-supplement seller, is moving into a new 70,000 square-foot headquarters near by its warehouse and fullfillment center, creating its own campus. Combined with Plexus’ 30,000 square-foot warehouse, the new headquarters creates a 100,000 square-foot combined campus. The campus is in the Pima Center, a 209-acre mixed-use business park… Read More →