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.

Arrowhead Creekside in Glendale sells for $11.15M

Arrowhead Creekside
by in AZRE Magazine | Medical

An 11 building medical office campus, Arrowhead Creekside, sold for $11.15 million in Glendale at 7200 W. Bell Rd., according to Cushman & Wakefield on behalf of owner Washington D.C. based Starwood. Arrowhead Creekside is an 69,858 square-foot, medical office campus located in the prestigious Arrowhead Ranch area of Glendale. The project was 97 percent occupied at the… Read More →

Corporate Center at Kierland sells for $24M

Corporate Center at Kierland
by in AZRE Magazine | Brokerage | Multi-Family

The Corporate Center at Kierland sold for $24,350,000 in a sale to Kierland Sky, LLC., according to an announcement by Commercial Properties Inc. Trent Rustan and Josh Gosnell from Commercial Properties Inc. represented the Scottsdale-based buyer, Kierland Sky, LLC in the purchase of the 107,860 square foot, Class A office building at 14635 North Kierland Boulevard in… Read More →

Father and son duos corner CRE market

(Appearing from left to right) Carter and David Wilson, Steven and Steven P. Bodeman, Trevor and Steve McKendry, Carl and Ben Johnson (Photo courtesy of DAUM Phoenix)
by in AZRE Magazine | Newsmakers

As people prepare to celebrate Father’s Day on Sunday, the Phoenix offices of Daum Commercial Real Estate is proud to have a number of dad/son teams creating great achievements together, at work and home. Daum Commercial Real Estate Services, California’s oldest commercial real estate brokerage company established in 1904 opened its Phoenix offices in 1973.… Read More →

CBRE completes sale of Tamarron Apartments

Tamarron Apartments
by in AZRE Magazine | Brokerage | Multi-Family

CBRE completed the sale of the Tamarron apartments, a 328-unit multifamily community located at 4410 N. 99th Avenue in Phoenix, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction on behalf of the seller. Joseph Dietz with Orion Investment Real Estate represented the buyer. “Tamarron is ideally… Read More →

Colliers goes collaborative with workspace renovations

Colliers
by in AZRE Magazine | Office

Colliers International in Greater Phoenix recently completed an office renovation at the Biltmore Financial Center, creating an inviting open concept that fosters collaboration and creativity, increases efficiency and enables brokers to better serve clients.   Photos courtesy of Colliers International Colliers held visioning sessions and conducted internal surveys during a two-year comprehensive workplace strategic review… Read More →

Construction material prices rise again in May

construction worker
by in AZRE Magazine | Construction

Construction input prices expanded by 0.7 percent in May and have now expanded for three consecutive months according to an analysis of the Bureau of Labor Statistics Producer Price Index released Wednesday by Associated Builders and Contractors (ABC). The rise follows eight consecutive months during which construction input prices fell; prices remain 3.4 percent below their… Read More →

Cushman & Wakefield sell Chandler apartments for $21.65M

Chandler Apartments
by in AZRE Magazine | Brokerage | Multi-Family

Cushman & Wakefield negotiated the sale of Chandler apartments, which sold for $21.65 million. Park Tower Apartments, a 180-unit value-add multifamily investment at 1283 W. Parklane Blvd. in Chandler, was sold to Chicago-based 29th Street Capital. Cushman & Wakefield Executive Managing Directors Steven Nicoluzakis and David Fogler of the Phoenix office represented the seller, Scottsdale-based Clear Sky Park… Read More →

Velaire at Aspera officially opens in Glendale

Aspera
by in AZRE Magazine | Multi-Family

P.B. Bell has opened Velaire at Aspera, a luxury apartment community within the long-awaited Aspera mixed-use development in Glendale, Arizona. Velaire at Aspera is the third new community P.B. Bell has opened since late September. Located at 75th Avenue and the Agua Fria Loop 101 Freeway, Velaire at Aspera offers 286 luxury apartment homes in a resort-like… Read More →

$5M SkySong restaurants project breaks ground

LearnVest
by in AZRE Magazine | Construction

Wetta Ventures broke ground last week on a $5 million, multiple-restaurant development at SkySong, The ASU Scottsdale Innovation Center with completion expected by the end of the year. Prominently located at the northeast corner of Scottsdale Road and SkySong Boulevard, the new 12,000 square-foot development is expected to include three to four restaurants, one of… Read More →

MC Construction Management completes Legoland

LEGO
by in AZRE Magazine | Construction

MC Construction Management, Inc. has completed building the new 40,000 square foot LEGOLAND Discovery Center at 5000 Arizona Mills Circle in Tempe, AZ for Merlin Entertainments Group Ltd.  Located on the NEC of Arizona Mills, this much anticipated family entertainment center was complete for the grand opening on April 22, 2016. The first of its… Read More →

Sagewood completes $13.2M expansion

Sagewood

Sagewood, a Scottsdale senior living community, has completed the expansion of its on-site, Acacia Health Center, according to Sagewood’s Executive Director Stewart Ingram. Doubling in size, the $13.2 million expansion includes another 36,300 square-feet to Acacia Health Center at Sagewood. Sixty beds have been added to the health center including a new 20-bed memory care neighborhood… Read More →

Marcus & Millichap sells Phoenix multifamily complex

multifamily
by in AZRE Magazine | Multi-Family

The Phoenix office of commercial real estate investment services firm, Marcus & Millichap (NYSE: MMI), completed the sale of The Shorewood, a recently renovated mid-century art deco style apartment building in the Midtown Phoenix corridor. The apartments sold for $2,650,000 or $126,190 a unit, and are located at 3601 N. 5th Ave. in Phoenix. Brian Tranetzki and Rich Butler, multifamily investment… Read More →

The Weitz Company finishes senior living community

Weitz Company

The downtown Mesa age-restricted senior living community, Encore on First West, has officially been completed, according to a Wednesday announcement by The Weitz Company. Encore on West First is a 44,000 square-foot, 4-story building, 44 unit complex that was built with accommodations for a future solar panel system on the roof. The community is a… Read More →

Deer Valley apartments sell for $33M

Deer Valley apartments
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International in Greater Phoenix negotiated the sale of The Park at Deer Valley apartments at 17425 N. 19th Ave., in Phoenix, for $33 million or $75,688 per unit. Executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich with Colliers’ Phoenix office represented both the buyer and seller. The seller was Bruckal Properties, Inc.,… Read More →

Scottsdale luxury apartments to offer hotel perks

Luxury apartments
by in AZRE Magazine | Multi-Family

A new luxury living apartment complex is opening up in Scottsdale in mid-June, a stone’s throw from local hangout spot Hotel Valley Ho. When The Standard opens, it will be the only luxury apartment community that is partnered with a hotel to offer resident perks such as access to the Valley Ho pool, spa and room… Read More →