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.

Deer Valley Flight Center sold for $4.5M

Deer Valley Flight Center
by in AZRE Magazine | Brokerage

The Flight Center in Deer Valley at 615 and 625 W. Deer Valley Rd. was sold to Scottsdale-based KBP Realty Advisors for $4.5 million, according to Cushman & Wakefield, which worked on the deal. Bob Buckley, Steve Lindley, Tracy Cartledge and Ben Geelan with Cushman & Wakefield represented the seller, California-based Business Properties. Flight Center is a 33,451-square-foot,… Read More →

Apartments near Alma School Road sell for $20M

Apartments near alma school road
by in AZRE Magazine | Multi-Family

Fiesta Park Apartments at 1033 S. Longmore Rd. has been sold for $20 million. A California-based real estate company acquired the property to expand its portfolio of apartment communities in the Phoenix area. The property consists of 10, three-story apartment buildings that contain 320 units totaling 234,696 square feet. Situated on 8.8 acres of land,… Read More →

Apartments near Metrocenter sell for $14.35M

Apartments near Metrocenter
by in AZRE Magazine | Multi-Family

A 224-unit Phoenix apartment community near Metrocenter Mall was sold by Pacific Real Estate Partners Inc. to Dalan Management for $14.35 million, according to Marcus & Millichap, which worked on the deal. The apartment community, Sterling on 28th, is situated on 8.09 acres, includes one, and two-bedroom/two-bath apartments with fully equipped kitchens, large pantry spaces, ceiling fans,… Read More →

Valley Partnership to look at impact of SRPMIC projects

McKesson Corporation
by in AZRE Magazine

Valley Partnership‘s panel for its monthly breakfast on Friday, March 17 will discuss the Salt River Pima-Maricopa Indian Community’s (SRPMIC) impact on the Valley’s development landscape. Most recently, Ryan Companies US broke ground on a 271,000-square-foot, twinned office tower on 32 acres that will be the corporate regional headquarters for San Francisco-based McKesson. McKesson is… Read More →

Arizona Center begins $25 million makeover

Arizona Center
by in AZRE Magazine | Construction

Downtown Phoenix continues to change, as the $25 million renovations for the one million-square-foot Arizona Center ceremoniously began Tuesday. First step for @theazcenter‘s $12m facelift: Hammer time! Stay tuned for a more modern, connected & open look for key #Dtphx retail hub. pic.twitter.com/ZKnrl4RIuZ — Greg Stanton (@MayorStanton) March 14, 2017 The retail and entertainment destination… Read More →

Scottsdale Airpark hangar and offices sell for $4.5M

Scottsdale airpark hangar
by in AZRE Magazine | Office

An executive office and hangar facility at the Scottsdale Airpark were sold for $4.5 million to Potts Properties LLC, according to CBRE, which worked on the Scottsdale sale. The newly purchased facilities are located at 15834 N. 80th St. in Scottsdale, and were sold by Hill Valley Real Estate Holdings LLC. Bill Bayless with CBRE’s Phoenix office… Read More →

Developers buy land along Central Avenue for mixed-use project

Central Avenue mixed-use project
by in AZRE Magazine | Brokerage

A partnership between three companies purchased 1.565 acres near Central Avenue and McDowell Road in Phoenix for $4.5 million, according to Colliers International. Ryan Companies, Tilton Development Company and Hunt Investment Company plan to develop a mixed-use project with residential and office components on the site, at the northeast corner of Willetta Street and Central… Read More →

Construction Job Growth Surges in February, ABC Says

by in AZRE Magazine | Construction

National construction employment surged in February as the industry added 58,000 seasonally adjusted net new jobs, according to analysis of U.S. Bureau of Labor Statistics data released Friday by Associated Builders and Contractors (ABC). February’s data represents the best month for construction job creation since March 2007. Nonresidential construction added nearly two-thirds of net new construction… Read More →

2.38 acres in Ahwatukee sell for $1.8M

Ahwatukee land
by in AZRE Magazine | Site Selection

A 2.38-acre parcel of land in Ahwatukee was sold for $1.8 million for the construction of a self-storage facility at Desert Foothills Parkway and Marketplace Way, according to NAI Horizon, which worked on the deal. NAI Horizon Senior Vice President Denise Nunez represented the land seller, Scottsdale-based 1784 Capital Holdings LLC in the deal. Scottsdale-based Moncap… Read More →

Zillow economist will speak at ‘Everything Infill’ event

Phoenix
by in AZRE Magazine

It’s getting dense in Phoenix, which is how creativity and real estate collide to create amazing infill projects. Just like the trendiest restaurants and hippest office spaces can bring new life into an old lot, the market’s most desirable rooftops are also the result of infill. Homeowners Financial Group, with Fidelity National Title Agency, announced… Read More →

Daum works on $11.2M worth of industrial sales

Daum
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services has negotiated the $11.22 million sale of three industrial buildings located in Phoenix. In the first transaction, Zouras Trust of Santa Fe Springs, Calif. purchased two single-story industrial office buildings in Southbank Business Center located at 3249 and 3259 E. Harbour Dr. in Phoenix for $4.8 million. The 3249 E. Harbour… Read More →

Valley Partnership announces 2017 chair, board members

Phoenix
by in AZRE Magazine

Valley Partnership named Brett Hopper, development consultant at The OPUS Group, as its 2017 Chair. The commercial real estate industry group also named new board members representing Pederson Group, Land Advisors, Hines, City of Phoenix and Macerich. “As Valley Partnership’s 2017 Chair, I look forward to drawing from the expertise and experience of my peers… Read More →

The Highlands in Scottsdale sell for $48.5M

The Highlands
by in AZRE Magazine | Multi-Family

A 272-unit Scottsdale multifamily community was sold by its California-based owners to another California-based firm for $48.5 million, according to CBRE, which worked on the deal. The Highlands, a garden-style community with one, two and three-bedroom floor plans, was bought by Newport Beach-based Olen Properties from Irvine-based Bascom Group. Bascom Group was represented by Tyler Anderson, Sean… Read More →

Grady Gammage Jr. earn’s NAIOP Arizona Award of Excellence

Grady Gammage Jr.
by in AZRE Magazine | Newsmakers

The founder of Gammage & Burnham, Grady Gammage Jr., will receive the 2017 Award of Excellence from NAIOP Arizona at the 2017 Best of NAIOP on March 30 at the Arizona Biltmore. NAIOP’s Award of Excellence recognizes an individual who made a significant, positive impact on the office and industrial commercial real estate market in… Read More →

Medical building near Westgate Entertainment Center closes

by in AZRE Magazine | Brokerage

With easy freeway access just off of the Loop 101, 7410 North Zanjero Boulevard is a 10,500 square foot medical building that sold for $3,215,000 ($306/SF). Leased to Palo Verde Cancer Specialists, there are over $2 million in tenant improvements made to the property for this specialized use. The property is adjacent to Westgate Entertainment… Read More →