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.

Berkadia sells Phoenix multifamily property for $14.05M

123rf.com: Vadim Guzhva
by in AZRE Magazine | Brokerage

Berkadia negotiated the recent sale of a portfolio of three for rent multifamily properties located across Phoenix. The sale was facilitated by Senior Managing Director Mark Forrester, Managing Director Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff, based in the Phoenix office. The $14.05 million transaction was completed on August 19. The sellers were… Read More →

Owners of The Met rejoin for hotel venture in Chandler

Towneplace Suite - The Met at Fashion Center
by in AZRE Magazine | Construction

Construction commenced today on a 109-unit TownePlace Suites by Marriott at the corner of Chandler Boulevard and Hearthstone Way in Chandler. Project owners include HCW Development  and Statesman Group of Phoenix. This same duo brought The Met at Fashion Center luxury apartments to Chandler in the fall of 2015. The Towneplace Suites development is located on two acres adjacent to the 303-unit Met at… Read More →

Desert Commercial Advisors announce August sales and lease transactions

Desert Commercial Advisors
by in AZRE Magazine | Brokerage

Desert Commercial Advisors continue to prove that retail and office are still thriving in today’s Arizona market. Directors of Retail Leasing and Investment Sales, Rommie Mojahed and Mary Nollenberger have focused on the economic development of Chandler and Surprise, Arizona. The team has been instrumental in lease transactions for the upscale entertainment center at Chandler Crossings… Read More →

$30 million senior living facility coming to Pima Center

Pima Center
by in AZRE Magazine | Senior Living

Pima Center, a mixed-use business park located along the Loop 101 between the Via de Ventura and Pima/90th Street exits on the Salt River Pima Maricopa Indian Community, will be the site of a new Legacy Village assisted living community. The $30 million project is expected to create more than 175 full and part-time jobs. Legacy… Read More →

JLL Phoenix starts Net Lease Investment sales practice

Are Your Investments Safe Or Risky?
by in AZRE Magazine | Brokerage

Investors looking to diversify their portfolios, hedge against risk and secure higher yield are turning toward the net lease sector. As an industrial hub and burgeoning retail powerhouse, the Southwest is offering investors a wealth of net lease opportunities. In response, JLL’s Capital Markets announced Peter Bauman and Tivon Moffitt have joined the firm as Senior… Read More →

Tucson shopping center along Wilmot Road sells for $47.3M

Tucson Shopping
by in AZRE Magazine | Brokerage

DSW Wilmot Plaza LP, an Arizona based investment group, acquired Wilmot Plaza shopping center. The group’s managing director Michael Sarabia along with partner James Hardman (DESCO Southwest) believe strongly in the fundamentals of the 139,000-square-foot multi-building “trophy” asset. Wilmot Plaza was purchased for $47.3 million from BP Wilmot Plaza, a Bourn Companies destination retail development.… Read More →

Valley Partnership to focus on multifamily market

Tempe apartments
by in AZRE Magazine | Events

Valley Partnership‘s September 23 monthly breakfast will focus on the Valley’s multi-housing market, which continues to hum along. What are the realities for residents? Are the types of projects being developed actually what the Valley needs? As Valley and state economic development leaders look to grow our economy, affordable, workforce-centric housing is key to employer attraction –… Read More →

225,600 SF Gilbert industrial facility opens

AZ|60 consists of two buildings and is near two major highways in the Phoenix area. (Photo courtesy of Conor Commercial Real Estate)
by in AZRE Magazine | Industrial

Conor Commercial Real Estate, a member of The McShane Companies, and Globe Corporation, completed construction on AZ|60, an industrial property within Gilbert. The new two-building, 225,600-square-foot speculative industrial property is located within Fiesta Tech Center strategically positioned just off the intersection of Arizona Avenue and Baseline Road in Gilbert, Arizona. The facility is available for immediate… Read More →

Home developer buys land near 3rd Street and Central Avenue

home developer
by in AZRE Magazine | Site Selection

Green Street Communities Inc., a Phoenix-based residential design/build developer since 2012, purchased approximately 2.6 acres of R-6 zoned land at the eastern perimeter of the Church for the Nations, 6225 N. Central Ave. NAI Horizon Associate Kim Kristoff represented Green Street Communities in the $1.298 million sale. The eastern portion of the church property, deemed… Read More →

Caliber acquires The Palms multifamily portfolio in Phoenix

Vestar
by in AZRE Magazine

Caliber – The Wealth Development Company acquired a $14.05 million, 374-unit portfolio consisting of three multifamily properties, in Phoenix, Arizona. The Palms Weekly Portfolio, including the Siesta Palms, Palm Shadows and Twin Palms communities, have been successfully operated for 20 years as long- and short-term furnished rental units. According to Chris Loeffler, CEO and co-founder of Caliber, “It’s not often… Read More →

Construction input prices decrease in August

Construction employment
by in AZRE Magazine | Construction

Both nonresidential construction input prices and overall input prices fell in August as energy prices retrenched, according to an analysis of the Bureau of Labor Statistics Producer Price Index released today by Associated Builders and Contractors (ABC). Nonresidential construction input prices were down 0.2 percent on a month-over-month basis and 1.7 percent on a year-over-year… Read More →

CBRE sells Arches at Hidden Creek Apartments for $55 million

CBRE
by in AZRE Magazine | Brokerage

CBRE‘s Phoenix offices completed the $55 million sale of Arches at Hidden Creek, a 432-unit multifamily community located at 1586 W. Maggio Way in Chandler, Ariz. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction. The seller was a venture between Hamilton Zanze of San Francisco, CA and New… Read More →

Tire’s Warehouse leases first Arizona distribution center

Tire's Warehouse
by in AZRE Magazine | Brokerage | Industrial

The Phoenix office of JLL completed an 83,000-square-foot lease that establishes well-known tire distributor Tire’s Warehouse Inc. (TWI) in its first-ever Arizona location and its only distribution center outside of California. The new facility, which is located at 1502 E. Buckeye Rd. in Phoenix, brings TWI to seven distribution centers across the West, including one new… Read More →

Get stoked for the real estate Industry chair hockey tournament

real estate
by in AZRE Magazine | Events

Grab your office chairs and hockey sticks and get ready for the reintroduction of Goodmans Chair Hockey Tournament, hosted by Goodmans Interior Structures and produced by Rooted in Good, Inc., an Arizona 501(c)3 operated by Goodmans employees. This year’s event benefits First Place AZ, a local non-profit working hard to ensure that housing options for people with autism and other special abilities… Read More →

NAI Horizon negotiates Avondale Rosati’s Pizza lease

NAI Horizon
by in AZRE Magazine | Brokerage | Public

NAI Horizon negotiated a long-term retail lease on behalf of the landlord, Alameda Venture LLC, for a Rosati’s Pizza at Alameda Crossing, 1729 E. Dysart Rd., Avondale, Ariz. The NAI retail properties team of Senior Vice President Chris Gerow, Senior Vice President Shelby Tworek, Vice President Gabe Ortega and Retail Specialist Patrick Anthon represented Alameda… Read More →