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.

NAI Horizon negotiates medical office sale

NAI Horizon
by in AZRE Magazine | Medical

The NAI Horizon team of Senior Vice Presidents Barbara Lloyd and Lane Neville represented the seller in the $1.25 million sale of the Phoenix Medical Arts Building at 1002 E. McDowell Rd., in Phoenix. Lloyd and Neville represented Tasker Holdings, LLC. They also represented Tasker Holdings in the purchase of the property through foreclosure in… Read More →

McCarthy breaks ground on Surprise West-MEC Campus

by in AZRE Magazine | Construction

McCarthy Building Companies broke ground on a $12.9 million new construction project for Western Maricopa Education Center (West-MEC) in conjunction with SPS+ Architects and Architechnology. The West-MEC Northwest Campus project, which will be located on the southwest corner of Dysart Road and Grand Avenue in Surprise, Ariz., will serve approximately 200 students when it opens in fall… Read More →

Velocity Retail Group promotes Bonnie Arlia to SVP

Bonnie Arlia
by in AZRE Magazine | Newsmakers

Velocity Retail Group, LLC promoted Bonnie Arlia to senior vice president. Arlia is an industry veteran, with decades of experience in the retail commercial real estate arena. “Bonnie is an integral part of our company with proven success and experience in all facets of our business. Our clients count on her to deliver accelerated service during… Read More →

ULI Arizona ‘Sharks’ bare their teeth Nov. 9

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

Following the enormous success of the popular TV show Shark Tank at ULI Fall Meetings, ULI Arizona is again bringing together expert money and real local deals. A panel of “sharks” will be moderated by C. Joseph Blackbourn, president and CEO, Everest Holdings, to evaluate the proposals and offer the audience a look behind the… Read More →

Valley Partnership will discuss developing healthcare projects

by in AZRE Magazine | Medical

Valley Partnership has announced the topic for the October 21 breakfast. This month’s panel will discuss the modern healthcare system, including developing and redeveloping new and existing healthcare-related projects. The healthcare industry can be contentious, with change a constant, but continual reality for providers, patients, and ancillary businesses. The pain points experienced by America’s healthcare… Read More →

Kierland Village Center sells for $34.5M

Kierland Village Center
by in AZRE Magazine

Cushman & Wakefield negotiated the sale of the Kierland Village Center, a grocery and drug anchored neighborhood shopping center located at the southeast corner of 64th Street and Greenway Road in Scottsdale, Ariz., sold for $34.5 million to Chicago-based LaSalle Investment Management. JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), acquired… Read More →

CoreNet takes look at Warehouse District

by in AZRE Magazine | Events

Downtown Phoenix is experiencing a surge of growth as urban cores across the country are attracting new businesses and new residents. Boosting this growth in the Valley is the Warehouse District in Downtown Phoenix. Historic buildings are experiencing a comeback in an underutilized area. The goal is to leverage these existing buildings to create affordable… Read More →

Q3 Phoenix office report shows vacancies falling, rents rising

Totaling 104,618 square feet, the 2777 building sits at the southwest corner of 28th Street and Camelback Road, where WFG National Title Insurance is opening its new offices. (Photo courtesy of JLL Phoenix)
by in AZRE Magazine | Multi-Family

The Phoenix office of JLL released its Q3 2016 Phoenix Office Report, highlighting benchmarks and includes the lowest vacancies since 2008 and still-rising rents. Still, Phoenix remains one of the most affordable office markets on the West Coast. “More companies are recognizing that Phoenix has an extremely strong labor pool and very affordable cost of living,” said… Read More →

Construction employment rebounds with strong September

Construction employment
by in AZRE Magazine | Construction

The construction industry rebounded in a meaningful way in September by gaining 23,000 net new jobs on a monthly basis after losing 5,000 net jobs in August, according to an analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors (ABC). Despite the broader industry gains, the nonresidential sector added just 2,700… Read More →

CBRE Tucson releases transaction report Vitaliy Vodolazskyy
by in Blogs

CBRE’s Tucson office has released the following recent transaction report: USAVA Lending leased 1,521 square feet of office space at La Paloma Corporate Center. The tenant was represented by Tim DeNiro with Commercial Group of Tucson. The landlord was represented by David Montijo and Jeff Casper with CBRE. TMC Holdings, Inc. purchased a 13,001-square-foot office project… Read More →

Industrial trends and investments on the rise in Phoenix

Photo courtesy of SVN
by in AZRE Magazine | Industrial

The Phoenix industrial market has become a substantial revenue-generating investment in the valley. According to the US Capital Trends, the industrial market brought in $3.2 billion in July transaction volume alone. According to Real Capital Analytics, the Phoenix market is above average compared to other industrial markets across the United States. SVN advisor and newcomer… Read More →

2 property retail portfolio sells for $72.5M

Tenants at La Mirada include the renowned Maestro’s Steak House, Walgreens, Starbucks, Jade Palace, Russ Lyon, Sotheby’s, and Pima Animal Hospital. (Photo courtesy of Lee & Associates)
by in AZRE Magazine | Brokerage | Retail

A two property Class A retail portfolio in Scottsdale, which includes Scottsdale Seville and La Mirada Shopping Center, sold for $72,500,000 million, according to Lee & Associates. The Fincham Dempsey Team at Lee & Associates, led by principals Jan Fincham and Pat Dempsey, facilitated the transaction along with Lee principals Craig Coppola and Andrew Cheney and… Read More →

Q3 multifamily report features analysis, outlook

by in AZRE Magazine | Multi-Family

 Job Growth Intensifies Apartment Demand and Construction in Tempe Hiring by large companies will generate further demand in local apartments, creating density in urban corridors, according to a report compiled by Marcus & Millichap. Continued optimism by Phoenix employers boosted job growth during the past four quarters, with increases expected throughout the year. White-collar jobs… Read More →

U.S. office market continues to tighten, but at a slower pace

Office Trends, Business Saving Space
by in AZRE Magazine | Office

U.S. office markets continued to gradually tighten in the third quarter of 2016 Cushman & Wakefield announced Thursday. That tightening reflects the more moderate pace of job growth, which has slowed from the strong rate of the previous two years. Net absorption of office space totaled 13.2 million square feet (msf) in the quarter, down… Read More →

Galleria offers relief for Downtown Scottsdale office market

by in AZRE Magazine | Office

The Galleria, an office complex in Downtown Scottsdale, just got a little roomier. The property has newly available space that will offer relief to an office market that is currently the tightest in the metro Phoenix area. Galleria can now accommodate users with requirements greater than 50,000 square feet. This new availability at the office project marks… Read More →