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.

Rosie Keller joins Cushman & Wakefield

March 23, 2015 by in AZRE Magazine | Newsmakers

Rosie Keller has joined the Corporate Occupier & Investor Services Division of Cushman & Wakefield of Arizona, Inc. as portfolio manager. Keller joins Cushman & Wakefield after 15 years at Ryan Companies, where she began her career in the construction and development departments. Her background includes experience as a property manager and senior property manager.… Read More →

Tom Case joins Sundt

March 22, 2015 by in AZRE Magazine | Newsmakers

Sundt Construction, Inc. recently hired Tom Case as senior vice president, civil group. Case will lead Sundt’s civil group to meet its expansion goals​, both in terms of work portfolio and presence in new geographic areas. Case, a well-respected member of the industry and current chairman of the Highway & Transportation Division for the Associated General… Read More →

Class-A office space in Scottsdale sold to private investment firm

March 22, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Laurus Corporation, a U.S.-based private real estate investment and development firm, acquired Canyon Village, a 93,890-square-foot, four-building, institutional quality office park, occupying approximately 5.6 acres in the heart of DC Ranch, a mixed-use development, in North Scottsdale, Arizona. The building is approximately five minutes from the Loop 101 Pima Freeway, the primary Scottsdale access for… Read More →

Colliers hires Senior Associate in National Investments Sector

March 22, 2015 by in AZRE Magazine | Newsmakers

Colliers International in Greater Phoenix recently hired Norah Brennan as a senior associate in the area of national institutional investment sales and single tenant net leased assets.   Brennan has worked in commercial real estate for four years, three of those years with Colliers International’s Sacramento office. Her transactions totalled more than $65 million last year.… Read More →

Security Title Plaza sells for $18M

DTZ, a global leader in commercial real estate services, announced that Investors Warranty of America, Inc., a subsidiary of AEGON USA, has sold Security Title Plaza, 3636 N. Central Avenue in Phoenix. Heckethorn Towers, LLC, a unit of Reven Capital of La Jolla, CA, purchased the 219,032 square foot, 12-story office tower for $18 million.… Read More →

Swen Anderson joins LGE Design Build

March 21, 2015 by in AZRE Magazine | Newsmakers

LGE Design Build has recently hired Swen Anderson to serve as vice president of business development to grow the company’s relationships with current and potential clients, economic development officials and industry leaders.   Anderson also will cultivate projects in existing sectors such as healthcare, industrial/warehouse, office, medical, education restaurant and retail while helping LGE expand… Read More →

Papago Arroyo sells for $40.85M

Lee & Associates Arizona announced the three-office building leasehold sale of Papago Arroyo, 1255, 1275 and 1295 E. Washington St., Phoenix for $40,850,000. Combined, the buildings total 279,503 SF which calculates to $146.15 per SF. The cap rate was reported to be 7% based on first year NOI performance.   Lee & Associates’ Coppola-Cheney Group… Read More →

Chicago firm acquires Glendale oil distribution center

Osprey Capital, LLC, a Chicago-based private equity firm, announced the acquisition of the Chevron Oil distribution center for the Phoenix market. The property includes an office, warehouse and tank farm. The acquisition is a part of the growth initiative for Orange Line Oil, a leading oil distribution company that Osprey also owns. Orange Line is expected… Read More →

Mark-Taylor awarded property management of three Central Phoenix communities

In a move that illustrates its effectiveness as a luxury multi-family manager with universal appeal, Mark-Taylor Residential was named manager of three hip, trendy urban communities for third-party developers in the central Phoenix area. Luxury metropolitan communities Domus (4445 North 36th Street), Level at Sixteenth (1550 E. Campbell Avenue) and the under construction @51 community (5251 N. 16th St) are now part of the company’s… Read More →

Big Brothers Big Sisters of Central Arizona relocate corporate office

DTZ, a global leader in commercial real estate services, announced the completion of a 10,097 square foot lease on behalf of Big Brothers Big Sisters of Central Arizona (BBBSCA) at Valley Commerce Center, 4745 N 7th Street in Phoenix.   Vice President Justin Himelstein with DTZ’s Occupier Services Office Group represented BBBSCA during the lease… Read More →

SAAR announces commercial real estate event in April

The largest commercial real estate event in Scottsdale will
focus on positioning the Valley as a global leader. Photo:, hkeita

For the past two years, hundreds of attendees have gathered for the Scottsdale Commercial Real Estate Summit. Attendees walked away with a knowledge of current and planned commercial developments in and around Scottsdale, as well as a better understanding of how commercial development both effects and is impacted by job growth, transportation issues, economic development,… Read More →

Fenway Properties purchases former bank and data center for $1.33M

March 19, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Newmark Grubb Knight Frank (NGKF), global full-service commercial real estate advisor, announced the sale of 3615 North 27th Avenue in Phoenix, AZ to Fenway Properties. The real estate investment company purchased the two-building, 120,000-square-foot property from Litmath LLC for $1,330,000, or $11.00 per square foot. San Diego-based Fenway Properties is an active area property owner with… Read More →

Autoline Industries announces site acquisition for new manufacturing facility

Autoline Industries, LLC, a manufacturer and distributor of high performance aftermarket automotive parts, announced plans for a new 70,000 square foot manufacturing facility and corporate headquarters at the northeast corner of Broadway Road and Country Club Drive in Mesa, Arizona.  “After carefully evaluating a number of prospective locations, Autoline Industries elected to purchase the site… Read More →

Colliers International completes $3.3M sale of church in Scottsdale

March 19, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Colliers International in Greater Phoenix recently completed the sale of the Impact Church building in North Scottsdale for $3.3 million or $143 per square foot. Scottsdale Training Facility Partners LLC of Scottsdale purchased the building, located at 15650 North 83rd Way, from Impact Church of Scottsdale. Greg Hopley, executive vice president with Colliers International, represented… Read More →

Apartment community in Phoenix sells for $525,000

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, represented the Seller in the sale of McLellan Apartments, an 8-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $525,000 equates to $65,625 per unit or $93.21 per square foot. Jack A. Cardinal, a Managing Director… Read More →