Author Archives: AZRE

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.

Symphony Apartments sell for $35.5M

Symphony Apartments

CBRE has completed the sale of the Symphony Apartments, a 234-unit apartment complex located at 2225 W. Frye Rd. in Chandler, Ariz. The multifamily asset commanded a sale price of $35.5 million. The property was 95 percent leased at time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office… Read More →

Roof Products Inc buys Phoenix manufacturing facility

5341 W. Luke, WEB
August 22, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Cushman & Wakefield of Arizona, Inc. negotiated the $1.45 million sale of a manufacturing facility at 5341 W. Luke Ave. The 35,000-square-foot property was built in 1985, and sits on two acres. The property was not on the market at the time of the sale. However, when discovered, it turned out to be the ideal… Read More →

Great Hearts Academies completes 5 charter schools

Great Hearts

Great Hearts Academies and Nations|Wright announced today the recent completion of construction on five Valley charter schools.  The two newest Great Hearts campuses, Cicero and Arete, as well as an expanded Maryvale Preparatory Academy campus all opened on or before Aug. 11 for the 2014-2015 school year. Nations Wright, serving as Owner’s Representative for Great Hearts, managed… Read More →

Lockheed Martin signs lease in Goodyear

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August 21, 2014 by in Aerospace | AZRE Magazine | Brokerage | Featured

Lockheed Martin, a publicly traded aerospace and defense company, announced on Monday, Aug. 11 that it has signed a two-year lease for 31,540 square-feet of office space in Buildings 12 and 13 at 1300 S. Litchfield Road in Goodyear. Jones Lang LaSalle acted as Lockheed’s broker in the transaction. The landlord, Reliance Management, is pleased… Read More →

Mike Duffy joins SRS Real Estate

Mike Duffy, SRS Real Estate

SRS announced the hiring of Mike Duffy as senior associate in the Phoenix office. He will focus on landlord representation, tenant representation and land brokerage. Duffy joins SRS with more than 20 years of experience in real estate. His introduction to commercial real estate came while at Marcus & Millichap, but his most recent experience… Read More →

Passco offers investors crowdfunding option for Tempe property

Ovation at Tempe, WEB

Passco InSite, LLC,  a joint venture between Passco Companies, LLC and InSite Investment Realty, has acquired the 270-unit Class B garden-style multifamily community Ovation at Tempe for $25.85 million. According to Bill Passo, CEO and Founder of Passco Companies, this new joint venture is an extension of a 20-year relationship with long-standing track record, market… Read More →

Laminate company renews 16KSF lease at Granite Commerce Center

Granite Commerce Center
August 21, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease renewal at Granite Commerce Center, 405 N. 75th Ave., Suite 180, for a lamination distribution company. The lease renewal of 15,988 square feet is for USI Inc. of Madison, Conn. USI  markets roll and pouch laminating machines and films, binding equipment and supplies and many… Read More →

Ensemble finishes Santa Fe Plaza renovations

Santa Fe Exterior Web

Ensemble Real Estate Solutions recently oversaw extensive improvements to Santa Fe Plaza in north Scottsdale.  Ensemble is currently the leasing agent and property management company of the building. Santa Fe Plaza is a unique medical office property that was built in 1985. The adobe, Spanish-style, 25,241-sq.-ft. building has excellent visibility from two major thoroughfares―90th Street… Read More →

ZELL recent completed transactions list

La Mirada
August 20, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

The Vitamin Shoppe leases space in Foothills Park Place The Vitamin Shoppe has signed a lease for 3,867 square feet in the Foothills Park Place Shopping Center located at the northeast corner of 48th Street and Ray Road in Phoenix, Arizona. Foothills Park Place Shopping Center, situated on the west side of Interstate 10, is… Read More →

CPI sells 11KSF retail building in Mesa

CPI, WEB
August 20, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Commercial Properties, Inc., announced the sale of a 10,992 SF freestanding, retail building located at 1021 E Main Street in Mesa, Ariz., to Northern Partners Holding, LLC. Rex Griswold of CPI’s Tempe office represented the seller in this transaction. 1021 E. Main St. is a single-tenant, retail building with frontage on Main Street.  The building… Read More →

Cooke team sells multifamily portfolio in Tucson for $34.5M

Summit Ridge, Colliers International

Colliers International in Greater Phoenix recently completed the sale of four Class B multifamily value-add properties in Tucson for $34.65 million for the 1,166-unit portfolio. Omninet Capital, LLC, of Beverly Hills, Calif., purchased the four properties from Gaines Investment Trust of La Jolla, Calif. The portfolio, Omninet’s first acquisition in Tucson, included: ·       Sedona Springs,… Read More →

Dunbar buys Cabot Business Center in Phoenix

Cabot Business Center, Voit, WEB

Darren Tappen, Senior Vice President, Aric Adams, Vice President, and Mike Kasulaitis, Vice President of Voit Real Estate Services’ Phoenix office successfully directed the $9.275 million sale of a 109,684 square-foot industrial warehouse in Phoenix, on behalf of the buyer, Dunbar CBC, LLC, an affiliate of El Segundo, California-based Dunbar Real Estate Investment Management.  The… Read More →

Garmin opens new research, development office in Chandler

Garmin, Chandler, WEB

Garmin International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), the global leader in satellite navigation, Friday formally opens its new 60,000 square foot research and development facility in the Chandler Corporate Center. “We are delighted to open such a state-of-the-art research and development facility here in Chandler,” said Merlin Smith, director of auto OEM… Read More →

Ryan Companies wins City of Chandler RFP

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Chandler City Council has awarded Ryan Companies the request for proposal for the premier downtown property known as Site 6, located on Arizona Avenue, directly across from Chandler’s award-winning City Hall. Ryan Companies, a nationally recognized company specializing in office development, construction and management, proposes to develop and lease a mixed-use project consisting of two… Read More →

Land Advisors reports recent transactions

Rancho Vistoso
August 19, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

RANCHO VISTOSO | Oro Valley, Arizona Offering: 140 gross acres (2 closings – 48 acres and 92 acres) Location: Rancho Vistoso Blvd, in Oro Valley, Arizona Sales Price: $13,600,000 total Seller: Vistoso Partners Buyer: Mattamy Homes Arizona Agents: Will White and Greg Vogel RIVERVIEW ESTATES | Mesa, Arizona Offering: 12.79 acres Location: E/SEC of Alma… Read More →