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.

11.58-acre, SW Phoenix industrial facility sold for $2.93M

Lee & associates industrial aerial, web
September 17, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Four buildings totaling 18,496 SF on 11.58 acres of land at 8164 W. Buckeye Rd. in Phoenix, has sold for $2,925,000. The transaction was recorded on September 8. Lee & Associates principals Matt Hobaica, Allen Lowe and TJ Swearengin negotiated on behalf of the owner, MidFirst Bank. Hobaica secured the buyer, EMC Holdings, LLC of… Read More →

Elontec leases 28KSF in Phoenix

Cresa Phoenix
September 16, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cresa Phoenix announced Tuesday that it completed a 28,231 square foot lease for Elontec, LLC at Freeport Industrial Center, 5502 W. Buckeye Rd., in Phoenix. Cresa Phoenix Vice President Ted Liles negotiated on behalf of the tenant, Elontec, LLC, an award winning, female owned furniture, relocation and cabling company. The landlord, BC 5 Buckeye LLC,… Read More →

Cody Kollmann joins Cushman & Wakefield

September 16, 2014 by in AZRE Magazine | Brokerage | In The Spotlight | Newsmakers

Cody Kollmann has joined Cushman & Wakefield of Arizona, Inc. as an Associate in the Office Division of the Tenant Representation Group. Kollmann, formerly an intern at Cushman & Wakefield this past summer, will be working with Senior Director Jay Hoselton and Senior Associate Chris Nord.  His intern experience included market research, updating tenant information,… Read More →

CCIM Institute certification’s return of investment

CCIM Central Arizona Chapter Logo

Op-Ed by Scott Fey, CCIM, Principal, Omni-American LLC The Certified Commercial Investment Member (CCIM) Institute was established in 1954 to give commercial real estate practitioners a previously unrealized opportunity to further their business practices through focused education and networking opportunities. Today, with the addition of advanced technology tools, CCIM is the global leader in commercial and… Read More →

Freeport Distribution Center sells for $12.17M

Freeport Distribution Center, HFF, WEB

HFF announced Monday that it has closed the sale of Freeport Distribution Center, a two-building, 219,240-square-foot distribution center in Phoenix. HFF marketed the property on behalf of the seller, IDI Gazeley, part of Brookfield Logistics Properties under the Brookfield umbrella.  An affiliate of Lincoln Property Company purchased the center for $12.17 million free and clear… Read More →

First Commons at West 10 sells for $6.08M

First Commons at West 10
September 15, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cassidy Turley announced the sale of First Commons at West 10, a ±99,528, institutional-quality, multi-tenant industrial complex. Located at 4625 and 4635 W. McDowell Road, the two-building, general industrial warehouse buildings were purchased by Enright Capital, Calgary, Alberta for $6.08 million. The seller was MDI Capital. Cassidy Turley Senior Managing Directors Bob Buckley, Tracy Cartledge… Read More →

TicketForce to create mixed-use development in Gilbert

TicketForce-PERS-Hi-res, WEB

A new mixed-use building is coming soon to downtown Gilbert featuring more than 13,000 square feet divided into three stories, a commitment to social responsibility and uniquely: a plan to only house local Arizona businesses. Gilbert residents and owners of East Valley-based ticketing company, TicketForce, Brad Smith and Lynne King Smith, closed last month on… Read More →

Gould Evans hires three staff members

Ed Perez

Multi-disciplinary design firm Gould Evans’ Phoenix studio has added key staff members in three of its specialty areas: architecture, interiors and graphics. Since 2007, Gould Evans has worked to build an integrative design staff that is focused on assisting clients in solving complex design problems across markets. These new Gould Evans associates help “connect the… Read More →

Paradise Arbor apartments sell in Phoenix for $1.176M

Paradise Arbor Apartments, ABI, WEB
September 15, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ABI Multifamily, a multifamily brokerage and advisory services firm, announced the sale of Paradise Arbor, an apartment community located in Phoenix. The 28-unit garden-style community was originally built in 1985, with renovations in 2011 and 2012, and sold for $1,176,000 or approximately $42,000 per unit. “This is a well constructed all two bedroom community located… Read More →

Op-Ed: New ROC regulatory philosophy triggers need for self-audits

SMACNA Arizona

By D. Kim Lough, construction lawyer with Jennings, Haug & Cunningham Contractors throughout Arizona are being blindsided by a new administrative oversight role undertaken by the Registrar of Contractors (ROC). The Registrar’s new prosecutorial philosophy toward investigating complaints against licensed contractors places contractors at risk of losing their license for minimal technical violations which may… Read More →

Tanque Verde apartments in Tucson sell for $21.3M

Tanque Verde, WEB
September 15, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has completed the sale of the Tanque Verde apartment complex, 428-unit multifamily community located at 7671 E. Tanque Verde Road in Tucson, Ariz. The multifamily asset sold for $21.3 million. The property was 94 percent leased at time of sale. Michael Sandahl and Wyatt Campbell with CBRE’s Tucson office, along with Tyler Anderson, Sean… Read More →

Pima Norte signs three tenants

PIma Norte, Courtesy of Whitestone REIT
September 15, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Whitestone REIT (“Whitestone”), a fully integrated real estate company that owns, operates and re-develops Community Centered Properties, welcomed new tenants Berkshire Hathaway HomeServices Arizona Properties, Carefree Movement and KT Financial at the Pima Norte property located just north of Scottsdale, Ariz., in the Carefree and nearby Cave Creek area. Pima Norte, an executive office and… Read More →

Bob Kline joins Cushman & Wakefield capital markets group

Signaling a move to expand its Capital Markets platform, Cushman & Wakefield has added a capital markets and commercial real estate veteran to its leadership roster. Bob Kline of RW Kline Companies has joined the firm as Senior Managing Director of the Equity, Debt and Structured Finance Group (EDSF). Kline was previously CEO of the… Read More →

$150M Chandler Viridian project zoning entitlement approved

Map, Colliers, WEB

The Chandler City Council on Thursday night approved zoning and a development agreement for Hines to develop the Chandler Viridian mixed-use project located near the Chandler Fashion Center and Loop 101/Loop 202 interchange. The 25-acre project will include a modern brand hotel, Class A multi-family and a central plaza with 250,000 square feet of Class… Read More →

Alliance Residential’s Bruce Ward named 2014 ‘Executive of the Year’

Bruce Ward, Alliance Residential

Alliance Residential Company announced that Bruce Ward, the company’s chairman and CEO, has been named the 2014 Executive of the Year by Multifamily Executive, one of the leading trade publications for the multifamily housing industry. One of the most prestigious honors of the multifamily industry, the Executive of the Year Award is given annually to… Read More →