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.

Project News: September/October 2015

The Row, Chandler

Rowing Away The Row, a retail and entertainment property destined to kickstart downtown Chandler’s culture hub, has been delayed. As of press time, The Row’s expected 2015 groundbreaking is being delayed due to City of Chandler and developer agreements that need to be finalized. An issue, as reported by the Arizona Republic, includes potential need… Read More →

Rosecrest Apartments in the heart of midtown sells for $929K


ORION announced that Rosecrest Apartments has sold for $929,000, or $61,933/unit. The property is well-located in the heart of Midtown on 3rd Avenue and Camelback Road. Situated on an approximate half-acre of land, Rosecrest Apartments is comprised of three block-constructed buildings totaling 15 units. The property is individually metered for electricity and was 100% occupied… Read More →

LevRose facilitates sale of iconic Arizona building

September 28, 2015 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

LevRose Commercial Real Estate, a leading Arizona-based commercial real estate brokerage and management company, facilitated the sale of the Arizona School of Real Estate & Business building in Scottsdale for $7.7 million last week. Located at 7142 E. 1st Street in downtown Scottsdale, the 17,711 square-foot building is situated on 51,350 square feet of land and… Read More →

De Rito Partners promotes from within

Arizona Business People & Promotions
September 28, 2015 by in AZRE Magazine | Newsmakers

De Rito Partners, comprised of 5 entities including one of Arizona’s largest retail brokerage firms, announced that Matt Morrell has been promoted from Executive Vice President to President of De Rito Partners, Inc. Matt began his career in real estate in 2004 as the Development Coordinator for De Rito Partners Development, Inc. In this position… Read More →

C & W | PICOR comes out with more recent transactions Vitaliy Vodolazskyy

SALE 18Teen Jak Properties, LLLP purchased Oakwood Terrace Apartments, a 57-unit apartment complex at 2740 N. Balboa Ave. in Tucson from Pinnacle Realty Investors, LLC for $915,000.  Allan Mendelsberg, Investment Specialist with Cushman & Wakefield | PICOR, represented the buyer in this transaction. TDD Properties, Inc. purchased a 21,980 square foot office building at 3131 N. Country… Read More →

Construction begins at Madison Simis Elementary School


McCarthy Building Companies and Madison School District #38 are celebrating the start of construction of the new $16 million, 72,000-square-foot Madison Simis Elementary School and administrative building in north central Phoenix. Elected officials including Councilman Sal DiCiccio, Representative Dr. Eric Meyer, Representative Ken Clark and Representative Kate Brophy McGee will join school officials, teachers, parents,… Read More →

SuperShuttle relocates to building near Sky Harbor Airport


SuperShuttle has relocated its Phoenix operations to a building at 3545 S. 28th St. near Sky Harbor International Airport. Steve Mardian, Senior Vice President with Cushman & Wakefield, represented SuperShuttle in the lease negotiations. John Werstler of CBRE represented the landlord. SuperShuttle leased approximately 17,672 square feet of space and recently relocated from 36th Street… Read More →

P.B. Bell honored for Project Safe participation Sergey Ryzhov
September 27, 2015 by in AZRE Magazine | Events | In The Spotlight | Newsmakers

P.B. Bell, a leader in multifamily housing and real estate development, management and acquisitions, has been awarded for its outstanding participation in Project Safe, an interactive and family-friendly safety awareness program supported by the Arizona Multihousing Association. One of P.B. Bell’s Mesa communities, Reflections at Red Mountain, was honored for “Best Resident Participation,” while P.B.… Read More →

Ace Vending purchases $3.6M building in Gilbert

September 26, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Cushman & Wakefield has announced that Ace Vending has purchased an industrial building at 335 S. Hamilton Court in Gilbert, AZ, for $3.6 million. Andy Markham, SIOR, Mike Haenel, Will Strong and Phil Haenel of Cushman & Wakefield represented Ace Vending in the acquisition. Steve Larsen of Jones Lang LaSalle represented the seller, Arizona-based Bell Holdings… Read More →

C & W | PICOR September recent transactions


SALE Francisco J. Brito Herrera and Rosa Maria Ceballos Cazessus purchased an 8,106 square foot medical building at 2206-2208 N. Camino Principal in Tucson from Bank of Oklahoma, N.A. for $180,000. Tom Knox, SIOR, Office Specialist with Cushman & Wakefield | PICOR, represented the seller and Maria Zipf with Keller Williams of Southern Arizona, represented… Read More →

CORFAC international Announces 2015 Fall Summit Awards,  Elnur Amikishiyev

CORFAC International announced its annual Thomas B. Hayes Award and Standard of Excellence Awards at its recent Fall Summit held in Minneapolis, MN. CORFAC International is a network association of leading independent commercial real estate service firms with 78 offices throughout North America, Europe and Asia. Thomas B. Hayes Award: Scott Savacool, CORFAC International President… Read More →

Construction begins on 4th SkySong office building


A new building is set to rise at SkySong, The ASU Scottsdale Innovation Center. It’s a necessity to keep up with market demand— the other three office buildings are now almost full with some of the Valley’s most exciting businesses. Construction on SkySong 4 began last week and is expected to be completed in about a year. Like SkySong 3, which opened in… Read More →

NAIOP Arizona speaker sparks ‘interest’ in interest rates thodonal

Signs were there that the Federal Reserve Board was not going to raise interest rates, KC Conway told NAIOP Arizona members at a recent Market Leaders Series. Conway, a third-generation MAI and Counselor of Real Estate with SunTrust Bank in Atlanta, spoke to a standing-room only audience at the offices of Colliers International a day… Read More →

CorePower Yoga replaces old print shop on Mill Ave.

Mill Ave

ORION Investment Real Estate has announced the sale of a single-tenant retail building for $1,200,000, or $371.75/SF. The property is located in the heart of bustling Tempe on renowned Mill Avenue, just south of University Drive. The free-standing building is well-situated, located adjacent to Arizona State University’s Main Campus, and a short drive from the Phoenix… Read More →

Pure Barre leases two new locations in Phoenix

Photo courtesy of Pure Barre Facebook

SRS Real Estate has announced that Pure Barre, the largest and most established barre fitness concept in North America, has leased two new locations in the Phoenix area; a 1,935-square-foot space has been leased in Village Square at Dana Park at the intersection of Baseline Road and Val Vista Drive in Mesa, Ariz., and a… Read More →