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.

Triple-net leased Fresenius Medical Care Building sells for $1.75M

Fresenius Medical Care Building, Colliers, WEB

Colliers International in Greater Phoenix has recently completed the sale of the triple net leased Fresenius Medical Care Building in Chandler for $1.725 million, or $232 a square foot. Prescott-based Cowboy Town, LLC, purchased the building, located at 912 W. Chandler Blvd., from 912 A&D Chandler, LLC, of La Habra, Calif. This facility, used as… Read More →

Culinary Dropout concept comes to Tempe this fall

Courtesy of Fox Concept Restaurants

Fox Restaurant Concepts (FRC) and development partner, Brian Frakes, plan to open the first East Valley Culinary Dropout location in October 2014 on First Avenue and Farmer Avenue in Tempe, Ariz. Known for their innovative restaurant concepts, FRC is planning their largest project to date with this Culinary Dropout location at Farmer Arts District at… Read More →

Cresa executes disposition and new lease for 3M Company

Tenant representation firm Cresa announced that it had executed the disposition of a 270,890 SF building and 42 acres of land for $31.91 million in Ontario, Calif., for 3M Company. As part of the transaction, Cresa Phoenix negotiated a 10-year lease on a 454,877 SF distribution facility to be constructed on a vacant parcel nearby.… Read More →

NAIOP: Commercial real estate strongest since economic recovery

Commercial Real Estate Market - AZRE Magazine March/April 2011

The commercial real estate development industry grew at the strongest pace since the economic recovery began in 2011, according to an annual report on the state of the industry released today by the NAIOP Research Foundation.  The report, entitled “The Economic Impacts of Commercial Real Estate,” determined that the economic impact realized by the development… Read More →

California investor purchases Westwood Business Park for $7.4M

WestoodBusinessCenter, WEB

Cassidy Turley announced the $7.4 million ($80.88/psf) sale of Westwood Business Park, a Class B office development at 2222-2228 West Northern Avenue in the Northwest Phoenix Submarket. California-based LBK Trust III purchased the property from Nebraska-based MJA Holdings, LLC. Cassidy Turley Executive Managing Director Eric Wichterman and Senior Vice President Mike Coover negotiated the transaction… Read More →

Robert Chelman joins Keyser

Robert Chelman
July 18, 2014 by in AZRE Magazine | Newsmakers

Keyser, a commercial real estate advisory firm providing global real estate services to tenants of office, industrial, retail, healthcare, nonprofit, and educational space, announced today that Robert Chelman has joined the growing firm. “We are pleased to be able to welcome Robert to our team”, stated founder Jonathan Keyser.  “His commitment to service is exemplary,… Read More →

Denver couple buys Full Circle Ranch B&B in Cave Creek

Full Circle Ranch, SVN, Web
July 18, 2014 by in AZRE Magazine | Brokerage

Carrick Sears, Senior Investment Advisor in the Phoenix office of Sperry Van Ness, negotiated the $700,000.00 sale of Full Circle Ranch Bed & Breakfast Inn located at 40205 North 26th Street in Cave Creek, Ariz. The buyers, Tom and Debby Kinsella, desired to relocate from Denver to the Southwest and chose Phoenix. Debby Kinsella has… Read More →

Isagenix International comes to Rivulon development

Isagenix Entryway Rendering

Columbus-based Nationwide Realty Investors announced today that it has signed a lease with Arizona based health and wellness leader Isagenix International, LLC to occupy a 3-story single-tenant building at its master-planned Rivulon development in Gilbert, Ariz. Also completed is a land swap agreement with LA Fitness. Nationwide Realty Investors President and COO Brian J. Ellis… Read More →

Cassidy Turley awarded leasing of 300KSF Walmart power center

GreenfieldGateway, Cassidy Turley, Wal-Mart, WEB

Cassidy Turley announced it has been engaged by Greenfield Gateway Retail Investments for the marketing and leasing assignment of Greenfield Gateway in Mesa, Ariz. The assignment consists of a 300,000 square foot shopping center anchored by Walmart Supercenter and Sportsman’s Warehouse. Cassidy Turley Vice President Brent Mallonee is now leasing the property. “We are excited… Read More →

Sperry Van Ness reports recent summer transactions

JB's Restaurant in Goodyear, WEB
July 16, 2014 by in AZRE Magazine | Brokerage

RETAIL LEASES: Mary Ridberg and Rommie Mojahed represented the landlord to lease 1,403 SF of retail space at Lakeview Village to a yogurt shop. Lakeview Village is located at 67 S. Higley Road in Gilbert. Tyson Breinholt represented the tenant in the transaction. Judy Jones, Mary Ridberg and Rommie Mojahed represented the owner of a… Read More →

McCarthy awarded Verrado Heritage K-8 school project

Victory at Verrado

McCarthy Building Companies was recently awarded a preconstruction services contract by the Litchfield Elementary School District (LESD) for the estimated $12 million Verrado Heritage Elementary School, located just west of Verrado Way and north of Thomas Road in Buckeye, Ariz. McCarthy will begin work on the new 80,500-square-foot K-8 school in August. The school will include… Read More →

One Step Beyond leases 12KSF in Surprise

The Offices at Reems in Surprise pic 2, WEB
July 16, 2014 by in AZRE Magazine | Brokerage | New to Market

Colliers International in Greater Phoenix recently completed an 11,800-square-foot office lease in Surprise for One Step Beyond, Inc., a Peoria-based day training organization for individuals with developmental disabilities. One Step Beyond is leasing space at The Offices at Reems, an office condo project. The tenant signed a 10.5 year-lease for two buildings located at 15527… Read More →

New City Church buys office shell in downtown Phoenix

Photo credit CoStar

Colliers International in Greater Phoenix has recently completed the sale of a Class C office shell in downtown Phoenix for $2.3 million, or $130 a square foot. Phoenix-based New City Church purchased the building, located at 1300 N. Central Ave., from Drapac Group of Los Angeles. The New City Church has experienced tremendous growth in… Read More →

North Pointe business park in Utah refinanced by Churchill Commercial Capital

Northsight, WEB

Churchill Commercial Capital, Inc. has arranged a $36.50 million first mortgage and $4 million mezzanine loan secured by the 100 percent leased North Pointe Business Park Buildings C, D and E in American Fork, Utah. In addition to the debt, replacement equity for the ownership was arranged by Churchill. The loans were funded by a… Read More →

Palisades Private Capital Fund acquires Chandler Corporate Center

ChandlerCorpCenter, WEB

Palisades Private Capital Fund 1, a $50-million Fund created by Palisades Mexico Partners (PMP), has acquired Chandler Corporate Center, a two-story, 67,561-square-foot Class A office asset in Chandler, Ariz., for $13.9 million. PMP is a joint venture of Joaquin de Monet, founder and managing principal of Palisades Capital Realty Advisors, LLC, an investment management and… Read More →