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.

Casa Grande retail center sells for $4.45M

Casa Grande
by in AZRE Magazine | Retail

A two-tenant retail center in Casa Grande sold for $4.45 million to Amir Fateh Amirian by an entity formed by the Hinkson Company LLC, according to CBRE who represented the sellers in the transaction. The 45,327-square-foot retail center is home to a Dollar Tree and Mor Furniture For Less at 1314 E. Florence Blvd., in… Read More →

Un-finished Scottsdale townhome development sells for $1M

Scottsdale Townhome
by in AZRE Magazine | Multi-Family

A townhome development near the heart of Scottsdale was sold for $1,000,000 to Scottsdale-based LNR Holdings LLC, according to ORION Investment Real Estate. The development, located at 70th Street and Earll Drive, contains a home and a duplex, which were vacant at the close of escrow. ORION represented the sellers, 70th St. And Earll Townhomes LLC, and … Read More →

CBIZ Plaza sells in Midtown for $26M

Cushman & Wakefield

A midtown office tower, near Central Avenue and Thomas Road, was sold to Houston-based Riva Ridge Development from Miami-based LNR Property Corporation for $26 million, which included fees assessed by an auction company, according to Cushman & Wakefield. The CBIZ Plaza is located at 3101 and 3111 N. Central Ave. in Phoenix, across the street… Read More →

Desert Ridge Marketplace announces $15M renovation

by in AZRE Magazine

Phoenix-based Vestar has commenced the renovation of its shopping center Desert Ridge Marketplace located off Loop 101 and Tatum Boulevard in north Phoenix. The $15 million overhaul is being done with the community, residents and visitors to the area in mind. First opened in 2001, Desert Ridge Marketplace served as the cornerstone in generating the… Read More →

Optima Kierland sales running ahead of projections

by in AZRE Magazine

The first high-rise luxury condominium tower at Optima Kierland is over 50 percent sold, with the developer’s ability to customize each home, unmatched amenities and desirable location cited as the primary factors in accelerating sales, and helping the community to reach the development milestone ahead of schedule.  More than 115 homes have been sold in… Read More →

North Scottsdale land sold for $7.1 million

North Scottsdale Land
by in AZRE Magazine | Construction

A 4.5-acre land parcel near Scottsdale Road and Princess Boulevard was sold for $7,128,728, according to Lee & Associates. The new owners plan to develop a mixed-use project, including a 300-unit,. 4-story luxury apartment complex, on the land at the southwest corner of Scottsdale road and Chauncey Lane. The mixed-use development also includes a four-building, 33,000-square-foot retail… Read More →

Hotel coming to First and Polk Streets in Downtown Phoenix

Hotel
by in AZRE Magazine | Construction | Hospitality

Development has started on a 210-room, 11-story Hampton Inn & Suites in Downtown Phoenix, near the ASU Downtown Campus, according to an announcement from Mortenson. The hotel is expected to be completed in the summer of 2018, and is located at the intersection of First and Polk Streets. PK Architects and Design Force are the… Read More →

ORION closes outparcel of Westgate Entertainment District

by in AZRE Magazine

Located within one of the largest entertainment and retail districts in Arizona, Westgate 95, a 7,539 square foot retail center, sold for $1,500,000 ($199/SF). Built in 2008, Westgate 95 is located steps away from Westgate Entertainment District, which offers a unique outdoor setting with many vibrant restaurants that include: Johnny Rockets, Buffalo Wild Wings, Saddle… Read More →

Tempe data center sells for $16.4M

Tempe Data Center
by in AZRE Magazine

A Florida-based investment firm purchased a Tempe data center from a Scottsdale-based development company for $16,400,000, according to Colliers International. The data center includes 44,244 rentable square feet and was 100 percent leased at the time of the sale. Korth and Kirk Kuller of Colliers International in Greater Phoenix and Luke Denmon of CBRE handled… Read More →

Peoria Avenue office space sells for $10.55M

Peoria Avenue
by in AZRE Magazine | Office

Desert Canyon 200, a 98,761-square-foot office space located at 2421 W. Peoria Ave. in Phoenix, was sold to Scottsdale-based G2 Capital for $10.55 million, according to CBRE. The seller was REEF Desert Canyon LLC, managed by Seattle-based Washington Capital Management. Barry Gabel, Chris Marchildon, Jim Bayless and Ashley Brooks with CBRE’s Phoenix office represented the… Read More →

17 retailers expecting to close stores this year

by in AZRE Magazine | Retail

Online shopping has been a force of change in the retail world, which has stirred many places to start redesigning and redeveloping to bring in more customers. There’s been news about many retailers closing around the Valley and the nation, but Phoenix has been seeing healthy leasing activity recently. Still, national retailers are closing doors,… Read More →

At Home will anchor San Tan Pavilions

San Tan Pavilions
by in AZRE Magazine | Retail

The San Tan Pavilions shopping center in Gilbert will be anchored by a home décor superstore, At Home, according to an announcement from the project developers. This will be the sixth At Home location in Arizona and will offer both in-home and outdoor furniture. At Home is stocked with quirky, traditional, modern and exotic home furnishings, and… Read More →

SmithGroupJJR promotes 3 to principal in Phoenix

by in Architecture | AZRE Magazine

SmithGroupJJR, one of the nation’s largest architecture, engineering and planning firms, has elevated Bryan Jehling, Russ Sanders and Robert Thompson to principal at the firm’s Phoenix office.  Bryan Jehling, PE, LEED AP Bryan Jehling is an electrical engineering lead at the Phoenix office. With more than 25 years of experience, primarily in the healthcare, data center… Read More →

NAI Horizon’s 2016 Top 10 sets the tone for 2017

by in AZRE Magazine | Newsmakers

NAI Horizon’s 2016 Top 10 Producers are highlighted by a diverse group of brokers whose transactions totaled more than $275 million representing multiple property types. The broad range of product type represented in NAI Horizon’s Top 10 is indicative of the overall health of the Valley’s commercial real estate industry.  The collective success of NAI… Read More →

Lee & Associates, RSP, Wespac will reposition Renaissance Square

by in AZRE Magazine

Owners of Renaissance Square, Downtown Phoenix’s iconic office towers at 2 and 40 N. Central Ave., have engaged Lee & Associates, RSP Architects and Wespac Construction to completely reimagine the nearly one million square foot Class A property. The ownership group, a joint-venture between funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Cypress Office… Read More →