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.

JLL 2015 Skyline: Not Everyone Gets a Trophy

phoenix

There’s no space like Trophy space. The premiere office towers that make up Phoenix’s skyline boast—by far—the most expensive office space to rent, garnering asking rents that are 33.5 percent higher than non-Trophy space, according to JLL’s 2015 Digital Skyline. Average Phoenix Trophy rates in the first quarter of 2015 were $26.53 per square foot, compared to $19.87… Read More →

Industrial building sold In Parkside Business Center

1911 W Parkside Lane 02

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, has announced the sale of 1911 W Parkside Lane, a ±32,221 SF building in Parkside Business Center in Phoenix, AZ.  Tyson Breinholt of CPI’s Investment Specialists Team represented the buyer, OPNS, LLC in this transaction. Tyson Breinholt commented, “Parkside Business Center was a great location… Read More →

Colliers completes sale of luxury apartment complex in Florida

lease
June 18, 2015 by in AZRE Magazine | Brokerage | New to Market | Office

Colliers International in Greater Phoenix recently completed the sale of the 390-unit Grand Reserve at Park Isle, a gated Class A multifamily community in Florida. Grand Reserve Borrower LLC of Dallas, Texas purchased the complex, located at 2600 W. Grand Reserve Circle, in Clearwater Florida from Standard Grand Reserve LLC of Arcadia, California. The seller was represented by the Colliers Cooke Team, led by Cindy… Read More →

SAAR’s headquarters named ‘Best Rehab Office Project’

123rf.com:  Elnur Amikishiyev

The Scottsdale Area Association of Realtors® (SAAR), a trade organization headquartered in Scottsdale for the past 50 years, recently repurposed an existing vacant building in Scottsdale’s Perimeter Center to use as its new headquarters. Growth of the 8,000-member organization prompted the move from SAAR’s longtime home in Downtown Scottsdale. It purchased the vacant building at… Read More →

Groupon becomes latest company to locate at SkySong

SkySong_Exterior_001new

Groupon announced that it plans to open a new sales office at SkySong, the ASU Scottsdale Innovation Center, to support its growing ecommerce marketplace. Groupon, along with up to 150 employees, plan to move in later this summer and will occupy 16,000 square feet of office space in SkySong 1. The company has been operating out of a temporary office… Read More →

C&W | PICOR announce more recent transactions

Arizona Community Surgeons, PC
630 N. Alvernon Way, Suite 351

Cushman & Wakeman Picor announced the following transactions: SALE Rodgers Investment Fund II Limited Partnership, LLLP purchased a 17,400 square foot industrial building at 3755 E. 34th St. in Tucson from Alvernon South, LLC for $550,000.  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer and Dean Cotlow with Cotlow… Read More →

Phoenix awards Faithful+Gould contract for airport evaluations

sky harbor
June 17, 2015 by in AZRE Magazine | Property Management

Americas-based leading integrated project and program management consultancy, Faithful+Gould has been awarded a contract by the City of Phoenix perform facility-wide assessments of three airports: Phoenix Sky Harbor International Airport, Phoenix Deer Valley Airport, and Phoenix Goodyear Airport. Maximizing Facility Value for the City of Phoenix Airport facilities include passenger terminals, gates, parking garages, hangars,… Read More →

U of A Old Main Rehab Project Wins 3 Awards

old main

Sundt Construction, Inc. led the design-build team that won three prestigious awards this month for renovating the University of Arizona (UA) Old Main building in Tucson, Arizona. The rehabilitation project, which preserved Arizona’s second oldest continuously occupied building, received two awards from the Arizona Preservation Foundation and one from the Design-Build Institute of America Western… Read More →

Daum negotiates $5.7M sale for U-Haul

6112 N. 56th Ave. Glendale Building
June 17, 2015 by in AZRE Magazine | Featured | Industrial

Daum Commercial Real Estate Services has negotiated the $5.7 million sale of a 120,000-square-foot industrial manufacturing facility located on 28 acres at 6112 N. 56th Avenue in Glendale. David Wilson, executive vice president with Daum Phoenix represented both the buyer and the seller in the transaction. The buyer was AMERCO Real Estate Company, a provider… Read More →

Fry’s raises $68K for Special Olympics Arizona

SOAZ1
June 16, 2015 by in AZ Business Magazine | Nonprofit

In an April campaign hosted by all 119 locations of Fry’s Food Stores in Arizona, residents were encouraged to round up their totals to the nearest dollar in support of Special Olympics Arizona (SOAZ). Through this effort, Fry’s was able to raise more than $65,000, showing not only Fry’s continued support, but also Arizona’s immense… Read More →

DCT Industrial Trust acquires Tempe industrial property

402 W Geneva
June 15, 2015 by in AZRE Magazine | Brokerage | Featured | Industrial

DTZ has announced today that DCT Industrial Trust (NYSE: DCT) purchased a fully leased, 49,956 square foot freestanding distribution center at 402 W. Geneva Dr. for $3.35 million. DCT Industrial Trust is a publicly-traded, real estate investment trust (REIT) specializing in the ownership, acquisition, leasing, development, redevelopment and management of bulk distribution and light industrial properties. The… Read More →

New condos breaking ground in Downtown Phoenix

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In the midst of the economy picking up and the surge of urban growth and development in downtown Phoenix, there is new affordable condo project breaking ground. Since the launch of en Hance Park, four units have already sold with sales anticipated to move quickly. The 59,000-square-foot condo complex is an affordable, thoughtful living option… Read More →

McCarthy Building Companies project earns designation

YUMA REGIONAL MEDICAL CENTER
June 15, 2015 by in AZRE Magazine | Construction | Featured

The Arizona Division of Occupational Safety and Health – (ADOSH) Consultation Department has presented the McCarthy Building Companies project, Yuma Regional Medical Center, as a “STAR Site” through the Construction Voluntary Protection Program “C-VPP.” Companies and jobsites that are awarded the STAR designation demonstrate exemplary and comprehensive safety and health management systems. On Tuesday, June… Read More →

Mill Ave. apartment complex sells for $700K

Mill Ave. Bridge in Tempe, AZ. Photo Credit: Flickr, twak
June 15, 2015 by in AZRE Magazine | Brokerage | Multi-Family

Millrose Place Apartments sells for $700,000 or $123 per square foot to Bloom Millrose, LLC.  The seller, Jade Court LLLP, was represented by Vice President, Danny Lee of Sperry Van Ness, LLC.  The buyer was represented by Tammy Malouff.  Millrose Place Apartments is located at 2205 S. Mill Ave, on the southeast corner of Palmcroft… Read More →

Memphis firm buys SkySong Scottsdale Apartments

SkySong - Residential
June 15, 2015 by in AZRE Magazine | Featured

The SkySong Scottsdale Apartments have been purchased by a Memphis-based company in a transaction highlighting how the overall mixed-use development is creating a significant economic impact. Mid-America Apartment Communities has purchased the 325-unit property for $67.5 million. The apartments were constructed in a joint venture between the ASU Foundation and USAA Real Estate Co. The strong sale price is an indication of how SkySong, The… Read More →