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.

CBRE completes 248-unit Chandler apartment sale

CBRE
by in AZRE Magazine | Brokerage | Multi-Family

CBRE has completed the $29.5 million sale of Pheasant Run, a 248-unit multifamily community located at 2101 N. Evergreen Street in Chandler, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction. The seller was California-based Acacia Capital. The buyer was Texas-based Phoenix Property Company. “Pheasant Run is… Read More →

Tucson Raytheon Missile Systems flex building sells for $10.5M

Raytheon Missile Systems
by in AZRE Magazine | Office

Lee & Associates facilitated the sale of a 72,000-square-foot former Raytheon Missile Systems flex office building at 3360 E. Hemisphere Loop, Building M10, Tucson for $10,500,000. Price-per-square-foot was calculated at $145.83. Lee Principals Jerry Marrell and Dave Johnson negotiated on behalf of DCG IV, LLC, a Seattle-based investment firm. Lee Principal Pete Batschelet procured the buyer, 3360… Read More →

Pharma firm leases 30KSF in Scottsdale

7400 E. Tierra Buena Ln.
by in AZRE Magazine | Office

Cushman & Wakefield announced today that West Pharmaceutical Services, Inc. leased approximately 30,500 square feet (SF) at 7400 E. Tierra Buena Lane in Scottsdale, Ariz. Cushman & Wakefield Executive Director Jim Wilson represented the tenant in the lease negotiations. The landlord, GH Scottsdale I, L.L.C. in partnership with Hewson Development Corporation, was represented by Mark Linsalata… Read More →

New listing aims to bring new life to Grand Avenue Arts District

Aerial shot of the McKinley and Pierce assemblage of property along the Grand Avenue Arts District in Downtown Phoenix. (Photo courtesy of Real Living Success Reality)
by in AZRE Magazine | Brokerage | New to Market

The former La Patisserie Bakery, located at 1317 W. McKinley Street in the middle of the blossoming Grand Avenue Arts District in Downtown Phoenix, is available for sale along with several other adjacent parcels. The property is a mixture of multifamily and commercial zoning properties totaling 1.19 acres for $2,125,000, which is the largest assemblage of available property along… Read More →

The Money Source leases offices, plans to hire 250

The Money Source
by in AZRE Magazine | Office

The Money Source subleased approximately 20,000 square feet of Class A office space at 2355 E. Camelback Rd. This marks the company’s second office lease in Phoenix during 2016. “The Money Source is committed to attracting and retaining the best employees in the Valley and plans to hire approximately 450 employees this year in Metro Phoenix,”… Read More →

Construction on first Gilbert Spectrum Business Park office starts

Gilbert Spectrum
by in AZRE Magazine | Construction

SunCap Property Group has begun construction of a 60,000-square-foot office building in the Gilbert Spectrum Business Park in Gilbert, Arizona. This is the first of several planned buildings that SunCap is offering in the 63-acre park, located at the southwest corner of Elliot and McQueen roads. A total of 800,000 square feet of state-of-the-art office,… Read More →

Copper State Rubber groundbreaking supports growth in Avondale

Copper State Rubber
by in AZRE Magazine | Construction

Copper State Rubber, the manufacturer of industrial, oilfield and mine hoses, broke ground on a 150,000-square-foot corporate facility on Monday. The forthcoming facility will accommodate the increasing amount of manufacturing businesses coming to the West Valley– a positive sign of continued business opportunities and job growth, Avondale city officials said. Construction on the $25-30 million… Read More →

Pima Center to develop 150KSF expansion

Pima Center
by in AZRE Magazine | Construction | Industrial

MainSpring Capital Group, developer of the highly successful Pima Center at the Loop 101 and Via de Ventura in Scottsdale, announced plans to speculatively develop 150,660 square feet of light industrial space suitable for warehouse/assembly/distribution uses. The project is called ‘Mainspring Flex Phase III at Pima Center.’ MainSpring’s light industrial offering at Pima Center (of… Read More →

CIS adds Noel Palmer, account manager

ABI Multifamily
by in AZRE Magazine

Corporate Interior Systems added Noel Palmer to its account manager department. With 10 years of experience in customer service and sales, she is most familiar with working as a team – with clients, consultants and other industry partners. She is always focused on her clients’ best interest – listening well and providing inspired and cost effective solutions. Palmer has been… Read More →

Retail gains momentum in southeast valley

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

Through the first half of 2016, the southeast Valley accounted for two-thirds of new retail product in the metro area, according to a recent MarketFlash report by CBRE’s Phoenix research team. As population growth occurs, new retail space is needed to meet demand from new residents. Currently, the southeast Valley is the most active new… Read More →

Economic expansion resilient, Cushman & Wakefield forcecast says

economy
by in AZRE Magazine

Global commercial real estate services firm Cushman & Wakefield Monday released its latest U.S. Macro Forecast, confirming that the economy weathered rough headwinds in the first half of 2016. The key demand drivers that support property markets—consumer confidence, job growth, low interest rates and consumer spending—all remain firmly intact. “There is no doubt that slowing global demand… Read More →

LGE Design Build starts construction on aerospace distribution facility

LGE Design Build
by in AZRE Magazine | Construction

LGE Design Build started construction on a new 33,000-square-foot distribution center for WireMasters, a distributor of wire, cable and associated electrical components for cable harnesses serving the military, aerospace and defense industry. The new distribution center, expected to be complete in early 2017, will serve the southwestern United States. Located at 1748 N. Higley Rd. in Mesa, the building… Read More →

Bear Holdings Group makes first asset buy in Prescott area

Bear Holding Group
by in AZRE Magazine

Colliers International in Greater Phoenix negotiated the sale of The Terraces at Glassford Hill apartments at 5700 E. Market St. in Prescott Valley, AZ. “This remarkable asset is situated on Glassford Hill giving the tenants picturesque views of Prescott. The unique location and the quality of the apartment community created a highly desirable community among… Read More →

LGE Design Build starts construction on Rainbow Ryders building

LGE Design Build
by in AZRE Magazine | Construction

LGE Design Build started construction on a new 12,000-square-foot office/retail building for Rainbow Ryders Hot Air Balloon Ride Company Inc. to accommodate the company’s expected growth during the next five years. The new building, located at 715 E. Covey Ln. in Phoenix near the Phoenix Deer Valley Airport, is scheduled to be complete in early to mid-2017. More… Read More →

Canadian investor buys Tempe apartments for $21.3M

Tempe apartments
by in AZRE Magazine | Multi-Family

Colliers International of Greater Phoenix negotiated the $21.3 million sale of The Arbors at 5th Apartments located at 805 W. Brown St. in Tempe, AZ. The community was purchased by a private investor based out of Vancouver, Canada. Senior Executive Vice President Cindy Cooke and Senior Vice President Brad Cooke of Colliers International in Phoenix… Read More →