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.

$730K Chandler sale to benefit foster kids

175 E. Corporate Place
January 20, 2015 by in AZRE Magazine | Featured

 Colliers International in Greater Phoenix recently completed the sale of an office building in Chandler for $730,000, or $81.29 a square foot, to a non-profit that supports foster children. Aid to Adoption of Special Kids (AASK) of Phoenix purchased the building, located at 175 E. Corporate Place, from TMS Properties, LLC, of Phoenix. Kathy Foster,… Read More →

CSHQA acquired NTD Architecture

Know Your Customer: Gathering Data to Build Marketing Campaigns
January 17, 2015 by in AZRE Magazine | Featured

Architecture and engineering firm, CSHQA, with offices in six western states, including Arizona, Colorado, and Idaho, has acquired the Arizona-based Education Design Studio of NTD Architecture. Architects, Scott Beck, Michael Harris, Alan Scott, and Keith Wong, and team members, Linda Perry and Patty York have joined CSHQA in their respective Phoenix and Tucson offices. The… Read More →

$11.5M acquisition loan for lease property

Sports Authority

CBRE Capital Markets has arranged an $11.5M loan in the sale of a triple-net leased retail property leased to Sports Authority. The 50,714-square-foot property sold for $15.25M. Geoffrey Harris, with CBRE’s Capital Markets Debt & Structured Finance group in Phoenix, arranged the five-year loan on behalf of the buyer, a private investor based in Florida.… Read More →

Kierland II sells for nearly $50M

Kierland II

CBRE has negotiated the sale of Kierland II located at 16260 N 71st Street in Scottsdale, Ariz. The 237,875-square-foot office building commanded a sale price of $49.15 million. The property was approximately 80 percent leased at time of sale. Jim Fijan and Will Mast with CBRE’s Phoenix office negotiated the transaction. The seller was The… Read More →

Native Grill & Wings leases test kitchen space in Chandler

Native Grill & Wings, Gavelston Tech

The ViaWest Group announced today that Native Grill & Wings has signed a 10-year lease for approximately 5,825 SF of office/test kitchen space in the 6825 W. Galveston street building in Chandler. The project, referred to as Galveston Tech, is comprised of one Class-A flex-office building totaling 74,525 SF and with this transaction and other… Read More →

Arizona DCS leases three floors in Mesa office building

One MacDonald Center

DTZ, a global leader in commercial real estate services, announced Tuesday that the Arizona Department of Child Safety (DCS) leased 27,340 square feet at One MacDonald Center, 1 N. MacDonald Drive in Mesa. DTZ Associate Vice Presidents Gregg Sherman and Scott Isacksen represented the landlord, Omniment MacDonald, LP, during the lease negotiations. DCS represented itself… Read More →

Chaparral Suites sell for $34M

Scottsdale Chaparral, DTZ, WEB

DTZ, a global leader in commercial real estate services, announced Monday that the Chaparral Suites hotel, 5101 N. Scottsdale Road, has been sold by two ownership entities formed by the Silverman family (Tom Silverman, et al.) for $34 million. The buyer was Snyder Nationwide Real Estate, Inc. of Scottsdale. DTZ’s Managing Director Don Arones and… Read More →

Safari Drive development site sells for $2.85M

Safari II Development Site_Scottsdale, DTZ, WEB
January 15, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

DTZ, a global leader in commercial real estate services, announced that Safari Drive Marketing, LLC (ST Residential, LLC) has sold Safari Drive, Phase II, a ±1.85-acre development site that includes four existing commercial units totaling ±7,694 square feet. Safari 159, LLC purchased the site located north of the northeast corner of Scottsdale and Camelback roads… Read More →

Montebello Apartments sell for $1.15M

Montebello Apartments, ABI Multifamily
January 15, 2015 by in AZRE Magazine | Brokerage

ABI Multifamily, a multifamily brokerage and advisory services firm, announced the sale of the Montebello Apartments located in north central Phoenix for $1,150,000, which reflects a price of just over $67,600 per unit. Constructed in 1964, the property is located just north of Phoenix’s Historic Districts along Central Avenue.  The low density, single story property… Read More →

CVL Consultants announce new president, Ryan Weed

Ryan Weed, president, CVL Consultants
January 15, 2015 by in AZRE Magazine | Featured | Newsmakers

Design and engineering firm CVL Consultants, announces new President Ryan Weed, PE, to succeed retiring leader Les Olson. Effective today, Weed is named president of Arizona while Olson will serve as president emeritus until his complete retirement, which is expected in May. Weed, previously executive vice president, has been with CVL since 1997 and worked… Read More →

Glendale Shadows apartments sell for $5M

Glendale Shadows, courtesy of Cushman & Wakefield

Cushman & Wakefield of Arizona, Inc. completed the $4,975,000 sale of the Glendale Shadows Apartments, 5902 W. Royal Palm Rd. The apartment building was constructed in 1975 and contains 138 units totaling 95,765 square feet ($51.95 PSF).  The property, which includes nine buildings, currently boasts 93 percent occupancy. Terra Vista Investments USA of Vancouver, Canada,… Read More →

HSL Properties buys Hilton hotel, plans $16M renovation

Courtesy of CBRE

CBRE has completed the sale of the Hilton El Conquistador Golf & Tennis Resort and the El Conquistador Country Club in Tucson, Ariz. The asset is situated on two separate parcels totaling approximately 383-acres. Financial terms of the transaction were not disclosed. The CBRE Hotels’ team who negotiated the transaction on behalf of the seller,… Read More →

Midtown on Main Apartments sell for $34.95M

Midtown on Main, Courtesy Colliers International

Colliers International in Greater Phoenix recently completed the sale of the 472-unit Midtown on Main Apartments, a transit-oriented, class-B complex in Mesa for $34.95 million, or $74,047 per unit. Houston-based Domain Acquisitions LLC in partnership with BH Equities LLC of Des Moines (DFA/BH Midtown LLC of Houston, Texas) purchased the complex, located at 2121 West… Read More →

Sperry Van Ness announces final deals of 2014

Lakeview Village, Courtesy of Sperry Van Ness

RETAIL LEASES: Potato Barn signed a 36-month lease at 202 Business Center, located at 596 E. Germann Road in Gilbert. Mary Ridberg and Rommie Mojahed represented Potato Barn in the transaction. True Believe Comics leased 1,268 SF of retail space at Lakeview Village at Morrison Ranch, located at 99 S. Higley Road in Gilbert. Mary… Read More →

ViaWest Group acquires Tiger Industrial Center

Tiger Industrial Center, via ViaWest Group

ViaWest Group announced the recent acquisition of two multi-tenant, industrial buildings collectively referred to as Tiger Industrial Center. Located at 4901 & 4929 W. Van Buren, the complex is comprised of 103,064 SF. Sold on December 30, 2014, Phoenix-based ViaWest Group paid $4.55MM acquisition. This is the first acquisition in ViaWest’s new fund focused on… Read More →