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.

CBRE welcomes Krystal Dill to their team inq
September 22, 2015 by in AZRE Magazine | Newsmakers

CBRE has announced that Krystal Dill has joined the Phoenix location. As the newest member to the team, Ms. Dill will partner with Bryan Taute and Charlie von Arentschildt to provide leasing and investment sale services to agency clients. Focused solely on listing assignments, Ms. Dill will be responsible for managing her team’s active listings, ensuring seamless… Read More →

Construction begins on 4th SkySong office building

Skysong 4 Rendering
September 21, 2015 by in AZRE Magazine | Construction

A new building is set to rise at SkySong, The ASU Scottsdale Innovation Center. It’s a necessity to keep up with market demand— the other three office buildings are now almost full with some of the Valley’s most exciting businesses. Construction on SkySong 4 began last week and is expected to be completed in about a year. Like SkySong 3, which opened in… Read More →

ORION closes Dunkin’ Donuts anchored center

Dunkin Donuts Phx, WEB
September 20, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Ahwatukee Foothills Center, a prestigious Ahwatukee Foothills drive-thru Pad built in 2002, sold for $2,038,000. The property is located on Chandler Boulevard, just west of Interstate 10, in a dense retail corridor with over 250,000 SF at the intersection. Notable neighboring tenants include LA Fitness, Kohl’s, CVS and Tutor Time. “We received an overwhelming amount… Read More →

Why SRP and ASU continue to invest in Tempe

The Grand at Papago Park Center

Valley Partnership has announced the topic for its upcoming monthly breakfast on Friday, Sept. 25. This month’s program will feature a discussion on why the Salt River Project and Arizona State University continue to invest in the city of Tempe. The panel will feature John Creer, Assistant Vice President for Real Estate Development at ASU;… Read More →

Anzio Apartments in Tempe sell for $19.5 million

Anzio Apts

Cushman & Wakefield has announced the $19.5 million sale of Anzio Apartments on behalf of owner Gelt Inc., dba Gelt Broadway Holdings LLC of Tarzana, CA. Jim Crews and Brett Polachek with Cushman & Wakefield’s Southwest Multifamily Advisory Group successfully negotiated the sale to WWC Holdings LLC of Vancouver, BC. Located at 1330 W. Broadway… Read More →

ViaWest renews lease with Aetna and JFCS expands to Phoenix


ViaWest Group has announced another recent boon in its portfolio, with the successful lease renewal of the 8,113 SF tenant, Aetna Life Insurance Company and an approximate 4,896 sq. ft. expansion of Jewish Family and Children’s Services, Inc. (JFCS), both at their West 101 Business Center. West 101 Business Center at 1830 N. 95th Ave.,… Read More →

Papago Plaza acquisition financing- arranged by Churchill

Papago Plaza
September 19, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Churchill Commercial Capital, Inc. (Cynthia Hammond, CMB, president) arranged equity financing through ABR Chesapeake Fund IV, a value-added real estate fund sponsored by Baltimore-based Alex Brown Realty Inc. (“ABR”) for the acquisition of Papago Plaza. The center was sold in early September to Papago Marketplace, LLC for $12.5 million. This 106,000 SF neighborhood shopping center occupies… Read More →

Mark-Taylor to bring spacious multifamily concept to Mesa

Photo courtesy of

The first Mark-Taylor-developed rental community in Mesa in almost two decades, San Posada, is well underway and promises to meet a need that is gradually diminishing with the proliferation of high-density communities: those with expansive living areas and wide, open, private spaces. “Our communities are ideal for those who are testing the waters before finding… Read More →

Watt AZ pipeline hits $45 million with new View 32 project


A just-closed $2.47 million land purchase is making way for View 32, a Watt Communities of Arizona project that brings the already active local residential builder into the Arizona rental apartment market. View 32 also marks Watt’s second urban infill residential project located within the City of Phoenix’s North 32nd Street revitalization corridor. Watt is… Read More →

Westwood Financial sells Arrowhead Plaza for $14M

Arrowhead Plaza
September 18, 2015 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of grocery-anchored retail properties in the United States, announced the sale of Arrowhead Plaza, located at 20165 N. 67th Avenue in Glendale, Arizona, for $14 million. The buyer, Arrowhead Plaza, LLC, owns the adjacent center. The 84,590-square-foot retail center was acquired in 1994 as a… Read More →

SRS executes multiple leases for 18|8 Fine Men’s Salon

Photo courtesy of 18|8 Fine Men’s Salon Facebook

SRS Real Estate Partners (SRS) announced that 18|8 Fine Men’s Salon has recently leased more than twenty locations in multiple markets across the U.S. including Boston, Chicago, Denver, Portland, Seattle, San Antonio and Minnesota. Three new leases have been executed in metro Phoenix, spaces range from 1,280-1,651-square-feet. 18|8 men’s haircare and grooming salons are the… Read More →

ORION closes three apartment properties in North Phoenix

The Franciscan

ORION Investment Real Estate has sold three separate apartment communities located in the emerging North Phoenix/19th Avenue Corridor. All properties are in close proximity to the Light Rail and are near major shopping anchors, as well as new, ground-up infill developments. Located off of Glendale Avenue and 19th Avenue, Villa Ventura sold for $3,197,500 ($63,950/unit). Located… Read More →

Kimpton to open boutique hotel at One | Hundred | Mill

Kimpton_One Hundred Mill_Tempe_reduced

Hayden House Tempe, LLC, a partnership between San Diego-based Douglas Wilson Companies (“DWC”) and Hensel Phelps Development LLC have signed a Hotel Operating Agreement with Kimpton Hotel & Restaurants to manage a new, luxury boutique hotel at One | Hundred | Mill in Tempe. The Hotel Operating Agreement between Hayden House Tempe, LLC and Kimpton Hotel… Read More →

Elevation Chandler Apartments sell for $28.7 Million


Cushman & Wakefield has announced the $28.7 million sale of Elevation Chandler, a recently constructed apartment property at 2300 W. Pecos Rd. in Chandler, AZ. The 163-unit development was built in 2014 and sold for $176,074 per unit. RVP Apartments, LP (Vedura Residential, Bruce Hart, Paul Fannin, and Jason O’Clair, Principals), sold the multi-family project… Read More →

Valley Partnership announces 2015-16 Advocates Class

VP Advocates
September 17, 2015 by in AZRE Magazine | Events | Featured

Valley Partnership announced its 2015-16 Advocates class with this year’s 25 candidates selected from a record 49 applicants. “This is the largest number of applications we’ve received since the program’s inception – 12 more than last year. We’re thrilled with the response for just the third year of the program,” said Cheryl Lombard, President and… Read More →