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.

Daum negotiates land purchase for Rainbow Ryders

Rainbow Ryders
by in AZRE Magazine | Site Selection

Daum Commercial Real Estate Services  negotiated the one-acre lot sale located at the southeast corner of Seventh Street and Covey Lane in Phoenix to Rainbow Ryders Hot Air Balloon Ride Co. for its future headquarters facility. The Daum Phoenix team of Trevor McKendry, Chris Rogers and Bob Lundstedt represented both the buyer, W. Scott Appelman,… Read More →

Meridian arranges $14.5M in financing for Phoenix property

by in AZRE Magazine | Multi-Family

New York-based Meridian Capital Group arranged $14.5 million in permanent financing for the refinance of a multifamily property located in Phoenix. The ten-year loan, provided by a national CMBS lender, features a fixed rate of 5.20 percent and two years of interest-only payments. This transaction was negotiated by Meridian Vice President Aaron Stempel, who is… Read More →

Fellowship Square in Surprise breaks ground


Fellowship Square Surprise broke ground Wednesday on its newest senior housing community. The project, Fellowship Square Surprise, will be built at 16477 W. Bell Rd., and 16640 N. Sarival Rd., in Surprise. The senior living facility will consist of two buildings on 14.6 acres,  with 313 studio, one and two bedroom residences, including 255 independent living units,… Read More →

Marcus & Millichap hires new VP of research

by in AZRE Magazine | Newsmakers

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the addition of Jay Lybik as vice president, research services, according to Gregory LaBerge, chief administrative officer of Marcus & Millichap. Lybik joins Marcus & Millichap with over 20 years of real… Read More →

AZRE names Most Influential Women in CRE for 2016


The 12 women who made AZRE’s Most Influential Women in Commercial Real Estate list are an extraordinary bunch. While that seems implied in the recognition, it’s something that goes beyond their professional achievements. Many of these women had to work their way through the ranks to a C-suite. One was a dealer in a casino.… Read More →

ORION sells Red Devil Center for just over $2M

by in AZRE Magazine | Brokerage

ORION Investment Real Estate announced the sale of Red Devil Center for $2,060,000 ($113/SF). This ±18,170 square foot retail strip center is located just west of the northwest corner of the high traffic intersection, Southern and Mill Avenue. The property is shadow anchored by Fry’s Food Store. Red Devil Center was 81% occupied to stabilized,… Read More →

AZRE Magazine July/August 2016

AZRE- November/December 2012
by in Archives | AZRE Magazine

Hello readers, Allow me to introduce myself, my name is David McGlothlin, University of Arizona School of Journalism graduate and newest associate editor at AZ Big Media. I’m a Phoenix native, food junkie and sports lover. If I’m not traveling or exploring new adventures, then I’m probably trying to replicate a dish from Food Network… Read More →

Construction input prices continue ascent

construction worker
by in AZRE Magazine | Construction

Construction input prices expanded in June, rising 1.1 percent on a monthly basis according to an analysis of the Bureau of Labor Statistics Producer Price Index released today by Associated Builders and Contractors (ABC). Today’s report marks the fourth consecutive month that input prices have expanded following eight straight months of decline. “Commodity prices stabilized… Read More →

Berkadia sells Mesa apartments for $12.5M

Mesa apartments
by in AZRE Magazine | Multi-Family

Berkadia negotiated the $12.5 million sale of Superstition Villas, a multifamily property located in Mesa. Senior Managing Director Mark Forrester, Managing Director Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of the Phoenix office negotiated the transaction, which closed on July 1. Arizona-based MRI Saddlehorn Superstition Investment Fund, LLC sold the property, and… Read More →

$34.35M apartment community sold by IPA

Apartment community
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, negotiated the sale of Whispering Meadows a 432-unit apartment property in Mesa. The $34.35 million sales price equates to nearly $80,000 per unit. Community amenities at Whispering Meadows include two resort-style swimming pools, a colorful clubhouse,… Read More →

Meet us at the AZRE Forum

AZRE Forum_DSC_0906
by in AZRE Magazine | Events

As the summer months continue to bring the heat, AZRE magazine is doing the same with its commercial real estate mid-year update and forecast on Thursday, July 21 at the Camby from 3:30 p.m. to 6:30 p.m. The AZRE Forum will bring a panel of Arizona’s top commercial real estate experts, yielding in-depth discussions of economics, development… Read More →

630k SF medical facility on track for completion

medical facility
by in AZRE Magazine | Industrial

Construction on the 630,000-square-foot Medline medical facility distribution center in Phoenix is set for its scheduled completion in September 2016, according to Milt Elmer, vice president of McShane Construction Company’s Southwest Region, the contractor for the project.. The new facility will allow Medline to consolidate its existing operations into one fully-equipped space at 87th Avenue and… Read More →

Earthworks Environmental moves into Gilbert offices

Earthworks Environmental
by in AZRE Magazine | Newsmakers

After working for almost two years out of Queen Creek, Cherie Koester, principal of Earthworks Environmental, moved her staff into offices in the highly- sought-after Gilbert Heritage District. “We grew out of our current space,” says Koester, who holds a Master’s of Science in International Environmental Technology Management and Sustainability from Arizona State University. “It’s… Read More →

29th Street Capital expands Phoenix office

Chandler Apartments
by in AZRE Magazine | Multi-Family

Christine Mueller joined 29th Street Capital (29SC) as an associate focusing on Phoenix, Las Vegas and San Diego. Mueller is responsible for all facets of the privately-held real estate investment and advisory firm’s asset management strategies and will be vital piece of the multifamily acquisition platform including assisting 29SC expand into the San Diego market Formed… Read More →

CBRE completes sale of $39M office project

park one
by in AZRE Magazine | Office

Velocis, a private equity real estate fund, purchased Park One, a three-building, multi-tenant, Class A office development totaling 205,000 square feet in the Camelback Corridor in metropolitan Phoenix. A team of brokers including Barry Gabel, Chris Marchildon, and Kevin Shannon represented the seller, a joint venture between California-based McCarthy Cook & Co. and New York-based… Read More →