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.

126-unit Briarwood Apartments sell for $4.05M

Briarwood Apartments
September 9, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Cushman & Wakefield of Arizona, Inc. negotiated the $4.05 million sale of the Briarwood Apartments, a multi-family property located at 3450 W. Missouri Ave., in Phoenix. Briarwood was built in 1983 and contains seven buildings and 126 units. The property was 90 percent occupied at the time of the sale. Edward Sibley of Phoenix sold… Read More →

Valley musicians, commercial real estate industry rock for a cause

September 8, 2014 by in AZRE Magazine | Events | In The Spotlight

Valley musicians will come together on Wednesday, Oct. 8, for “Rock for a Cause,” a benefit concert and battle of the bands in support of the Arizona Foundation for the Handicapped (AFH). The lineup features Phoenix favorites Honeygirl and Heartlyn Rae. The event is from 5 to 9 p.m. at the Monarch Theatre in Downtown… Read More →

Scottsdale Environmental Design Award winners showcase excellence

Bicycle Haus

When designing its new building, longtime downtown Scottsdale retail bicycle shop Bicycle Haus considered the distinctive character of the surrounding area. It created a strong street front identity by integrating bench seating into an outdoor plaza and orienting the building to face the mountains. Native desert trees shade the parking to the west, as well… Read More →

Sundt’s Marty Hedlund elected to ABA board of directors

Marty Hedlund

The Arizona Builders’ Alliance (ABA), a statewide construction trade association, formed as an alliance of the Associated Builders & Contractors (ABC) and the Associated General Contractors (AGC) welcomed Martin R. (Marty) Hedlund, P.E., DBIA as a newly elected board member.  Hedlund joined Sundt Construction, Inc. in 1984 and currently serves as the Profit Center Manager… Read More →

Brake Plus buys 5KSF in Peoria

Brakes Plus, WEB
September 8, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Brakes Plus, a 5,128-square-foot net-leased property located in Peoria, Ariz., according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,735,000.   Mark Ruble and Jamie Medress,… Read More →

Bakehouse Bread Company buys 22KSF in Tucson

bakehouse-bread v2, WEB
September 8, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has negotiated the purchase of a 22,500-square-foot industrial facility for Bakehouse Bread Company. The property is located at 2520 N. Jackrabbit Ave. in Tucson. The asset commanded a sale price of $1.35 million.   Tim Healy and Bob DeLaney with CBRE’s Tucson office represented Bakehouse Bread Company in the transaction. The landlord, Michael and… Read More →

Scottsdale Quarter leases first ‘Block M’ office

ScottsdaleQuarterOffice, WEB

Glimcher Realty Trust and CBRE announced the first office lease for Scottsdale Quarter’s new±170,000 SF Class A, mixed-use building in North Scottsdale, Ariz. Located at the southeast corner of the high-end lifestyle center, the new, six-story tower will be the new home of Phoenix-based hospitalist group Apogee Physicians’ corporate headquarters.   Vince Femiano with CBRE’s… Read More →

MIG acquires multifamily community in Chandler

8.26.14 Symphony
September 5, 2014 by in AZRE Magazine | Brokerage

MIG Real Estate, a Newport Beach, California-based real estate investment company, has completed the acquisition of Symphony, a 234-unit apartment home community in Chandler, Ariz. “In acquiring this property, MIG Real Estate recognized Symphony’s desirable location in one of the fastest growing cities in the nation, as well as the property’s proven potential for value-add… Read More →

Alvarado Apartments sell in Phoenix

Alvarado Apartments
September 4, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Marcus & Millichap announced the sale of Alvarado Apartments, a 10-unit apartment property located in Phoenix, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $425,000. Chris Lake, Brian Tranetzki, and Richard Butler, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property… Read More →

De Rito Partners reports recent transactions

Litchfield & McDowell roads
September 4, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Former Black Angus restaurant sold De Rito Partners’ agents Paul Serafin and Mike Kumelski represented the seller of a former Black Angus located at 27th Avenue and Loop 101 freeway in Phoenix. The buyer of the 6,732-square-foot restaurant was an entity titled 20440 27th Ave., LLC.   The Kobold Group purchases land in Queen Creek… Read More →

Wood Partners to break ground on Alta Steelyard Lofts

Wood Partners - Alta Steelyard Lofts, WEB

Wood Partners will break ground in October on Alta Steelyard Lofts, a 301-unit luxury apartment community in downtown Chandler that will add distinctive rental units to the employment-dense, rapidly developing “Silicon Desert” core.   With a particularly urban feel in both architecture and density combined with convenient access to employers and entertainment, Alta Steelyard will… Read More →

Colorado company purchases Dobson Springs Apartments

Dobson Springs, Colliers, WEB
September 4, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Colliers International in Greater Phoenix recently completed the sale of Dobson Springs, a 120-unit Class B apartment complex, for $9.12 million, or $76,000 per unit.   The Standard-Mesa, LLC, of Denver, Colo., purchased the complex, located at 1325 W. Guadalupe Road in Mesa, from Synergy Dobson Springs LP in Phoenix.   Bill Hahn, Jeffrey Sherman… Read More →

Healthcare Trust of America hires three employees

Sabrina Nayer, HTA
September 4, 2014 by in AZRE Magazine | In The Spotlight | Newsmakers

Healthcare Trust of America, Inc. (NYSE:HTA), has hired Jaime Northam as Senior Vice President, Leasing, Sabrina Nayer as Director of Operations, Midwest Region and Rachael Kimsey as Senior Leasing Associate. Northam will oversee third-party leasing across HTA’s portfolio, while creating new market strategies and identifying new investment and development opportunities.  Northam brings significant experience in commercial… Read More →

McCarthy, Sundt JV awarded $120M Ocotillo Water facility project; Copyright: hansenn

A joint venture between McCarthy Building Companies Inc. and Sundt Construction Inc. was recently selected as general contractor for the $120 million Ocotillo Water Reclamation Facility(OWRF) Expansion and Process Improvement Projects for the City of Chandler. The project includes $100 million in new construction and $20 million in upgrades to the existing plant. Located near… Read More →

Weitz Company named contractor for Hacienda at the River

The Freshwater Group

The Weitz Company announced its selection to build the Hacienda at the River project for Watermark Retirement Communities, Inc. along with The Freshwater Group of Tucson. The project will include a 70,000-square foot, two-story health care center offering short term, long term and hospice care. Also included are 62 residences, offering assisted living and memory care,… Read More →