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.

LGE Design Build starts construction on Crown Castle BTS

Crown Castle photo, WEB

LGE Design Build has broken ground and is currently in the process of constructing Crown Castle’s 70KSF, two-story class-A office build to suit in Chandler. Crown Castle, the nation’s largest provider of wireless infrastructure, expects to move into the new facility next summer, located at southeast corner of Germann Road and Stearman Drive. Crown Castle… Read More →

Chermack Consulting Group merges with Keyser

Tom Chermack, Keyser
November 14, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Chermack Consulting Group (CCG), a Scottsdale-based, full-service project management firm representing global clients throughout the Southwest, announced Friday its agreement to merge with Keyser to lead Keyser’s growing project management division. “Our approach has always been to focus as much on the people we serve as the ‘sticks and bricks’”, stated Tom Chermack, founder of Chermack… Read More →

The Plaza Companies hires four employees

November 13, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

The Plaza Companies, which inked a total of approximately $12.4 million in leases as of the third quarter of 2014 and added an additional 400KSF of property to the portfolio, took steps recently to expand its team with four new hires. John Trusiak is joining the Plaza leasing team. Trusiak, a current Arizona State University student, comes to Plaza from Applied Microarrays… Read More →

Marcus & Millichap arranges sale of Southern Ridge

Southern Ridge, Grass, WEB
November 13, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, announced Wednesday the sale of Southern Ridge, a 113-unit apartment property located in Mesa, Ariz., according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $6,510,000. Pete Te Kampe, an investment specialist in… Read More →

GPE vice president appointed to Mesa Economic Development Advisory Board

Dominic M. Perry, CCIM,
Vice President,
GPE Commercial Advisors
November 13, 2014 by in AZRE Magazine | Blogs | In The Spotlight | Newsmakers

Dominic M. Perry, CCIM, Vice President at GPE Commercial Advisors has been appointed to the City of Mesa Economic Development Advisory Board. The Economic Development Advisory Board acts as the advisory board to the Mesa City Council on matters pertaining to economic development, including goal setting, strategic planning, marketing and business recruitment, retention and expansion.… Read More →

John Goodwin joins Walton Group of Companies

John Goodwin
November 13, 2014 by in AZRE Magazine | In The Spotlight | Newsmakers

Scottsdale-based The Walton Group of Companies, a family-owned real estate investment and development group, announced Thursday that John Goodwin will join Walton’s land acquisitions and institutional relationships group, Walton Asset Management-USA, as senior vice president of retail development. Goodwin will focus on retail and commercial development sites owned or managed by Walton. His work will… Read More →

AZRE Magazine November/December 2014

November 12, 2014 by in Archives | AZRE Magazine

Footloose When people hear I survived in Phoenix without a car during college, their reaction is universal. How did I get anywhere? You walked. It helped that I actually lived in Tempe. All the essentials to a balanced life were within reasonable distance of my front doors over the years. But, everything changed when I… Read More →

Keith Earnest leaves RED, joins VanTrust Real Estate

November 12, 2014 by in AZRE Magazine | Blogs | In The Spotlight | Newsmakers

VanTrust Real Estate, LLC announced Wednesday that Keith Earnest has joined the firm as its executive vice president and market leader to grow and manage the local VanTrust real estate portfolio. Prior to joining VanTrust, Earnest spent nine years with RED Development as executive vice president of development. While at RED his resume included the… Read More →

Granite Reef Properties exits Phoenix market with Scottsdale Hacienda sale

Scottsdale Haciendas Closing Press Release (Hi-Res Image)
November 12, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ABI Multifamily, a multifamily brokerage and advisory services firm, announced the bulk condominium sale of Scottsdale Haciendas, a condo conversion community that is located in Scottsdale, Ariz. on Wednesday. The purchase consisted of 79 garden-style condominium and townhome units (out of an original 180 units total on the property) and transferred HOA control to the… Read More →

Ryan Companies named general contractor mentor of the year

Ryan Companies Logo
November 12, 2014 by in AZRE Magazine | Construction | In The Spotlight

“Honored to be recognized for building these lasting community relationships,” is how Senior Project Manager Cindy Olsen described the recognition of Ryan Companies US, Inc. as General Contractor Mentor of the Year by the Associated Minority Contractors of Arizona (AMCA) at its 17th Annual Awards Banquet on November 8. Ryan Companies continues its long history… Read More →

Failed condo project re-assembled from 57 ownership groups

Southern Ridge

ABI Multifamily, a multifamily brokerage and advisory services firm, announced the sale of Southern Ridge, an apartment community platted as individual condos, located in Mesa, Ariz. The 113-unit garden-style community was originally built in 1985. Southern Ridge sold for $6,510,000, which reflects a price of $57,610 per unit. The sale is one of three significant… Read More →

Talon Test Labs buys industrial space in Southpark Business Center

6145 W Detroit Street, WEB
November 11, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Commercial Properties, Inc. announced the sale of 6145 W Detroit Street, Chandler, Ariz.  Jeff Hays, Chad Neppl and Ryan Steele of CPI’s Tempe Industrial Group represented the buyer in this transaction. The ±24,565 SF, freestanding research and development/manufacturing building is located at 6145 W Detroit Street in Chandler, Arizona just north of Chandler Blvd., and… Read More →

HFF closes $12.45M sale of Tempe distribution center


HFF announced Monday that it has closed the sale of Normal Junction Distribution Center, a two-building, 140,314 SF distribution center in Tempe, Ariz. HFF marketed the property on behalf of the seller, American Realty Advisors.  Industrial Property Trust purchased the center for $12.452 million free and clear of existing debt. Normal Junction Distribution Center is… Read More →

Mountainview Apartments sold in Phoenix

Mountainview Apartments
November 10, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cooper, Cardinal and Company LLC, a boutique multifamily investment brokerage firm with headquarters in Phoenix, recently closed the transaction for Mountain View Apartments, a 26-unit turn-key multi-family community located in Phoenix, Arizona near the I-17 and Metrocenter Mall.  The sale price of $800,000 represents a capitalization rate of 6.5 percent on Proforma income. It equates… Read More →

Physician-owned MOB under construction near Chandler Regional

Proposed rendering, courtesy of Ensemble

Construction is underway on a new state of the art medical office building, located at 77 S. Dobson Rd. in Chandler, Ariz. Construction began on the 17,500 SF, one-story building in June 2014 and is set to complete by the end of December. Once finished the new building’s owner, Premier Cardiovascular, will occupy 8,800 SF… Read More →