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.

Copper Sky Land sells 40 acres in North Scottsdale for $5.5M

by in AZRE Magazine

Scottsdale-based investor and attorney Zach Sakas sold a 40-acre parcel of land in North Scottsdale for $5.5 million to Toll Brothers, a Pennsylvania-based luxury home builder, Sakas, through his company Copper Sky Land LLC, acquired the land in February 2015. The property is located near 120th Street and Jomax Road. The property features dramatic boulder outcroppings… Read More →

Passco Companies sells Ovation at Tempe for $36M

by in AZRE Magazine | Multi-Family

Passco Companies along with its JV-partner, InSite Property Ventures, has sold Ovation at Tempe, a 270-unit multifamily community in the Phoenix submarket of Tempe, Arizona for $36 million. The JV partnership initially acquired the asset for $25.85 million in 2014 and sold it for $36 million three years later, according to Passco’s Founder and CEO, Bill… Read More →

Meet AZRE Forum panelist: Bob Mulhern

Bob Mulhern
by in AZRE Magazine

The AZRE Forum will be held on Aug. 3 at the Camby and Bob Mulhern, senior managing director of Colliers International, will sit on one of the three feature panels. The first two panels will focus on the multifamily, retail, office and industrial commercial real estate sectors in Arizona. The final panel will give an update on the state… Read More →

Dolce Villagio in Tempe sells for $270,270 per unit

by in AZRE Magazine | Multi-Family

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Dolce Villagio, a 37-unit apartment community in Tempe, Arizona. The sales price is $10 million, which equates to $270,270 per unit. “Dolce Villagio delivers sophisticated living in an unparalleled location surrounded by… Read More →

Meet AZRE Forum panelist: Scott Maxwell

Scott Maxwell
by in AZRE Magazine

The AZRE Forum will be held on Aug. 3 at the Camby and Scott Maxwell, managing principal of Cresa, will sit on one of the three feature panels. The first two panels will focus on the multifamily, retail, office and industrial commercial real estate sectors in Arizona. The final panel will give an update on the state of the… Read More →

Meet AZRE Forum panelist: Sandra Watson

Sandra Watson
by in AZRE Magazine

The AZRE Forum will be held on Aug. 3 at the Camby and Sandra Watson, president and CEO of the Arizona Commerce Authority, will sit on one of the three feature panels. The first two panels will focus on the multifamily, retail, office and industrial commercial real estate sectors in Arizona. The final panel will give an update on… Read More →

3.88 acres at The Watermark | Tempe sell for $14.7M

by in AZRE Magazine | Brokerage

Fenix Development and Cushman & Wakefield announced today that 3.88 acres at The Watermark | Tempe sold to Dallas-based Trinsic Residential Group for $14.7 million. The Cushman & Wakefield team of Brent Moser, Mike Sutton and Brooks Griffith represented the seller, Los Angeles-based Fenix Development in the transaction. Aura at Watermark, the high-rise apartment tower… Read More →

CBRE completes $32.5M sale of San Paulo Apartments

by in AZRE Magazine | Multi-Family

CBRE has completed the sale of San Paulo, a 208-unit Class A multifamily community located at 14625 South Mountain Parkway in Phoenix. The property commanded a sale price of $32.5 million. Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch with CBRE’s Phoenix office represented the seller, Seattle-based PrivatePortfolio Group. The buyer was New York… Read More →

Aloft Hotel will open at Westgate in Glendale

by in AZRE Magazine

HCW, LLC announced today the land closing for the development of a 100-room, four-story Aloft Hotel located at the southwest corner of Glendale and 93rd Avenues in Glendale, AZ.   The 2.4-acre property is located adjacent to the Westgate Entertainment District, one of the premier entertainment destinations in the region.  The mixed-use Westgate Entertainment District… Read More →

Prime land parcel in Central Phoenix sells for $5.7 million

by in AZRE Magazine

Acres of land are in high demand all over the valley but purchasing land in Central Phoenix off Central Avenue and Indian School Road is any investor’s dream. SVN Desert Commercial Advisors currently represents a number of land owners who are looking to sell their property to investors from all across the country.  Just recently,… Read More →

Meet AZRE Forum panelist: Brent Herrington

Brent Herrington
by in AZRE Magazine

The AZRE Forum will be held on Aug. 3 at the Camby and Brent Herrington, president and CEO of DMB, will sit on one of the three feature panels. The first two panels will focus on the multifamily, retail, office and industrial commercial real estate sectors in Arizona. The final panel will give an update on the state of… Read More →

CBRE will market and sell Containers on Grand

by in AZRE Magazine | Brokerage | Multi-Family

CBRE announces the firm has been selected as the exclusive agent to market and sell Containers on Grand, a sustainable apartment community made of repurposed shipping containers. The downtown Phoenix project was the first shipping container community in the Western U.S. and is the only shipping container community in the country on the market. Located… Read More →

Meet AZRE Forum panelist: Beth Harmon-Vaughan

Beth Harmon-Vaughan
by in AZRE Magazine

The AZRE Forum will be held on Aug. 3 at the Camby and Beth Harmon-Vaughan, managing director, principal of Gensler, will sit on one of the three feature panels. The first two panels will focus on the multifamily, retail, office and industrial commercial real estate sectors in Arizona. The final panel will give an update on the state of… Read More →

Building pros share job skills with Gila River students

by in AZRE Magazine | Newsmakers

Recently ASU’s School of Sustainable Engineering brought together a host of local companies and academic experts to share building and engineering skills with a group of middle school students from Gila River Indian Community. The event was part of the Gila River community’s STEAAAM (Science, Technology, Engineering, Art, Agriculture, Architecture and Math) program.  The event included… Read More →

HFF secures $38.6M in financing for 2 Phoenix properties

by in AZRE Magazine | Finance & RE Law

Holliday Fenoglio Fowler, L.P. (HFF) announced that it has secured acquisition financing totaling $38.6 million for two Phoenix apartment communities – Pinnacle at Union Hills and Park 28.  HFF worked exclusively on behalf of the borrower, Pure Multi-Family REIT LP, to place the long-term, fixed-rate loans with an institutional lender in two separate transactions. Pinnacle… Read More →