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.

Adler buys 164KSF office campus in Deer Valley

Corridors, WEB

Adler Realty Investments, Inc. (Adler) purchased four multi-tenant office buildings in Phoenix for $16M. The property is part of a larger 80 acre mixed-use park called “Corridors” in the Deer Valley submarket of Phoenix. The Alter Group, the developer of the park, was the seller in the transaction. The 164,000 square feet office campus is currently… Read More →

CPI’s Andrew Jaffe wins CORFAC ‘unsung hero’ award

Andy Jaffe (L) Receives Olen Monsees Award from Robert Tillsley in Chicago.

CORFAC International 2014 President Robert Tillsley, SIOR, announced that Andrew Jaffe,SIOR, with Tempe, Arizona-based Commercial Properties Incorporated/CORFAC Internationalhas won CORFAC International’s Olen Monsees Award. The Olen Monsees Award recognizes the CORFAC individual as the ‘Unsung Hero’ for the CORFAC member who goes above and beyond without being asked and with little recognition. Andy Jaffe, SIOR… Read More →

CBRE secures $46.4M in CMBS financing for three transactions

Villa Encanto

CBRE Capital Markets’ Debt & Structured Finance team arranged $46.4 million in CMBS debt in three major transactions across the Western U.S. The transactions include: The Grove, located at 365 W. Craig Road in Las Vegas, Nevada; Villa Encanto, located at 4315 E. Thunderbird Road in Phoenix, Arizona; and Gander Mountain Company located on E.… Read More →

Ak-Chin Indian Community project wins water reuse award

Surface Water Treatment Plant

The Ak-Chin Indian Community UltraStar Multi-tainment Center at Ak-Chin Circle and Central Plant has been named the AZ Water Association’s 2014 Water Reuse Project of the Year. The two buildings were recognized for their efficient use of reclaimed water.   “This is a great example of environmental sustainability and water conservation that we strive for in our… Read More →

Goodwill to open new stores other Velocity Retail transactions

Moon Valley Towne Center
September 10, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

In August, Velocity Retail Group, LLC completed 18 deals totaling nearly 300,000 square feet spanning from Texas to Arizona, Utah and Oregon.  Below is a summary of those transactions.   Ahwatukee will soon have a new 22,565 square foot store for Goodwill Industries of Central Arizona.  The retailer will be opening in the Foothills Shopping… Read More →

Trinity Art Collective, Desert Whale Jojoba sign leases in Tucson

Bakehouse Bread Company, LLC purchased the 22,550 square foot industrial building at 2520 N. Jackrabbit Ave. in Tucson.
September 10, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Cushman & Wakefield | PICOR announced the following transactions in Tucson:   Trinity Art Collective leased 1,200 square feet at 7455 W. Twin Peaks Rd., Suite 101 in Tucson from CJR Investments, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the tenant. Lori Casey with Oxford Realty Advisors represented the landlord in… Read More →

Future Coronado Commons sold to SRM Development

Coronado Commons, courtesy of Architectural Resource Team, Inc.

Cashen Realty Advisors announced the sale of a 1.37-acre residential parcel located at 329 E. Coronado Road in the Alvarado Historic District Area of Phoenix. The parcel is zoned R-4 and has approved plans for 20 three-story townhome units. The property, destined to be the Coronado Commons, sold for $1,323,000 and is one of the… Read More →

The Newport at Tempe to break ground later this month

The Newport, WEB

Change is on the horizon for downtown Tempe, and as the city preps to dive headfirst into an extensive rebranding and revitalization effort, one local developer is leading the charge on the residential side. Risi Development’s 38- single family homes called Newport at Tempe (1106 E Weber Drive) is set to break ground Monday, Sept.… Read More →

Ready For The Rebound!

Recovery_Rebound_121567512

As the U.S. and Arizona markets improve, commercial contractors remain optimistic about the pending rebound. In anticipation of that growth, the Arizona Builders’ Alliance (ABA) has retooled its strategic plan to focus on a more modern, streamlined approach to membership services. Founded in 1994, by the merger of the Building Chapter of the Associated General… Read More →

ULI seeking real estate proposals for ‘Shark Tank’ event

ULI Arizona Shark Tank Flyer art

The Urban Land Institute (ULI) Arizona District Council is seeking proposals from local real estate entrepreneurs to showcase and pitch their projects at the popular ULI Shark Tank event.  Real money and expert deal making advice is at stake for successful candidates with real estate development experience, an active and interesting deal to discuss, and… Read More →

Marcus & Millichap announces retail, healthcare transactions

LaRonde Centre
September 9, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Marcus & Millichap announced the sale of La Ronde Centre, a 106,503-square-foot retail property located in Sun City, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $8,000,000. Sanford Burstyn, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf… Read More →

California investor buys retail plaza for $11.9M

Southern Plaza, WEB
September 9, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cassidy Turley announced that Amargosa Palmdale Investments, LLC of Beverly Hills, Calif., purchased Southern Plaza, a ±75,233 square foot neighborhood shopping center located at 6036 S. 7th Avenue for $11.9 million.   Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group represented the seller, Park West Development of Scottsdale,… Read More →

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

monarch-theatre
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 →