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.

Chandler Airport Water Reclamation Facility wins AWA award

CDP Commercial, LLC; Provided by McCarthy Building Cos.

The Chandler Airport Water Reclamation Facility expansion project, led by McCarthy Building Companies, was recently named the 2015 Water Reuse Project of the Year by the Arizona Water Association. The $105 million dollar expansion project, located at 905 E. Queen Creek Road in Chandler, Ariz., underwent a 7 million gallons per day (MGD) expansion that allows the… Read More →

Greystar receives top awards from AMA

Lesa LaRocca

Greystar recently received five top achievement awards and industry-wide recognition at the 2015 Annual Tribute event organized by the Arizona Multihousing Association (AMA). The AMA presented awards to rental communities and industry professionals that demonstrated excellence related to operating performance, community service, industry experience, teamwork and impact on the properties. The Arizona apartment industry’s 23rd annual… Read More →

Wentworth Property Company announces West 80 plans

West 80 rendering, courtesy of DTZ.

DTZ announced May 21 it has begun to market West 80, a ±379,635 SF, for-lease, speculative development by Wentworth Property Company (WPC). Located on the southeast corner of 80th Avenue and Buckeye Road in Phoenix, WPC plans to break ground on the industrial distribution center before year-end with delivery in 2016. DTZ Executive Managing Directors Andy… Read More →

Home Depot signs 12-year back office lease

Tempe One, Courtesy of Lee & Associates

Lee & Associates Arizona announced the signing of a 12-year, 111,349 SF lease with The Home Depot USA, Inc. of Atlanta. The back office building known as Tempe One is located at 1717 W. 16th St. in Tempe. Move-in for the online call center is scheduled for Q4 of this year. Rick Lee, Principal with… Read More →

Sidney Smith promoted at HKS

Sidney Smith, Courtesy of HKS
May 21, 2015 by in AZRE Magazine | Newsmakers

Sidney Smith, AIA, NCARB has been promoted to associate principal and senior vice president for HKS. He will assume the role of team manager for the Phoenix office, overseeing staffing and workload. Smith will continue as project manager/senior construction contract administrator for his projects, including Phoenix Children’s Hospital and the 45 Lansing residential luxury high-rise in… Read More →

Scheduling Institute opens in Phoenix warehouse district

Image provided by LGE Design Build

LGE Design Build has completed the renovation of the former Jackson’s on 3rd restaurant into a 23KSF West Coast training center for the Scheduling Institute, a medical and dental practice training company based in Alpharetta, Ga. PHArchitecture was the architect of record. The new training center, located at 245 E. Jackson St. in the downtown… Read More →

Sky Harbor Business Park has a new spec building

Eastgroup Rendering

Sun State Builders announced the completion of another speculative development project.  Sun State Builders, Eastgroup Properties and Butler Design Group teamed up to construct the industrial spec building located in Sky Harbor Business Park at 1725 E. University Dr. The team utilized the City of Phoenix self-certification program to expedite the permitting process. The 31,410… Read More →

Tempe Warner Self Storage sells for $6.7M

Tempe Warner Self Storage

Cushman & Wakefield announced the sale of Tempe Warner Self Storage at 1835 E. Warner Rd. in Tempe for $6.7M. Greg Wells of Cushman & Wakefield, director of the Self-Storage Industry Group represented the seller, Hibernia Tempe, LLC, and procured the buyer, StorQuest Self Storage The 52,200 SF self-storage building offers 100 percent drive-up access… Read More →

Aura at Midtown sells for $8.69M

Aura at Midtown, Courtesy of Marcus & Millichap

Marcus & Millichap announced the sale of Aura at Midtown, a 96-unit apartment complex in Phoenix. The $8.69M sales price equates to $90,500 per unit. Steve Gebing, a senior director of Institutional Property Advisors, a division of Marcus & Millichap, along with Marcus & Millichap vice president investments Cliff David, first vice president investments Richard… Read More →

AZRE Magazine May/June 2015

AZRE Magazine Digital Issue
May 18, 2015 by in Archives | AZRE Magazine | Featured

Two to Tango It’s a spring tradition for me to read “Leaves of Grass” by Walt Whitman. For those who have never read it — or haven’t read it since college — it’s a book of poetry that, among many things, frame themes of transition and symbiosis between people and their cities. I found this… Read More →

ViaWest purchases fourth Southwest industrial property

Riverside Industrial

ViaWest Group announced a new addition to its expanding portfolio, with the recent successful acquisition of the 72,129 SF multi-tenant industrial building located at 77 N. 45th Ave. in the heart of southwest Phoenix. Phoenix-based ViaWest Group paid $3.07M on the acquisition. This is the fourth acquisition in ViaWest’s new fund focused on the purchase… Read More →

CBRE Tucson reports recent transactions

3561 Sunrise, Courtesy of CBRE

CBRE’s Tucson office has released the following recent transactions: LEASES Chris Valenzuela has leased 3,000 square-feet for a vapor lounge at 2900 E. Broadway Blvd. from HLF Properties. The tenant was not represented in the transaction. The landlord was represented by Nancy McClure and Michael Laatsch with CBRE’s Tucson office. Darling Financial has leased 1,931… Read More →

Shaming building owners is not productive

123RF.com; alphaspirit

By Tim Lawless, President, NAIOP Arizona This column was published in the May/June 2015 issue of AZRE. In January, the City of Phoenix considered a draft ordinance that mandates owners of buildings more than 50KSF had to report their energy usage on a government website or face a Class 1 misdemeanor and minimum $500 fine… Read More →

West Osborn Apartment Community sells for $800,000

Osborn

CBRE has negotiated the following multi-family sale transaction: Clear Sky Uptown III LLC from Phoenix, AZ has purchased West Osborn, a 17-unit multi-family property located at 445 West Osborn Road in Phoenix, Arizona from West Osborn Apartments LLC of Phoenix, AZ. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented both buyer and the… Read More →

HKS Phoenix gets new Phoenix Team Director

May 15, 2015 by in AZRE Magazine | Newsmakers

John Niziolek, AIA, LEED AP, Associate Principal and Senior Vice President with HKS has been promoted to Phoenix Office Director. In his new role, John will manage the day-to-day operations for HKS’ pursuits in Arizona. He will continue as Principal-in-Charge on his current projects, including the several Banner Health project throughout Arizona. Banner University Medical… Read More →