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.

UMECAZ wins SMACNA safety award

safety
June 20, 2015 by in AZRE Magazine | Construction

University Mechanical & Engineering Contractors, Inc. (UMEC) in Tempe, Arizona has been recognized for the 10th time since 2000 with a national 1st Place Safety Excellence Award for exemplary safety practices and performance from the Sheet Metal and Air Conditioning Contractors National Association (SMACNA).  The award was presented for best safety and health record within… Read More →

De Rito Partners, Inc. adds three new professionals

derito
June 20, 2015 by in AZRE Magazine | Newsmakers

Jeff Schonberger joins De Rito Partners, Inc. with 32 years’ experience as a commercial real estate professional.  Mr. Schonberger has worked with several prominent real estate firms in Arizona and has represented numerous national retail tenants and landlords throughout the Western United States such as Chase, McDonald’s; Native New Yorker; Jack in the Box and… Read More →

August industrial and office property review

economy

ECONOMIC OVERVIEW The Metro Phoenix economy continued to improve adding 55,500 jobs over the past 12 months through March, marking an annualized job growth rate of 3.0%. The unemployment rate declined to 4.8%, the lowest rate since 2008, down 160 basis points (bps) from a year ago and 70 bps lower than the national rate.… Read More →

Velocity Retail Group May transactions

Shea and 32nd

Following is a summary of recent retail transactions completed by Velocity Retail Group, LLC. Andy Kroot of Velocity Retail Group represented Goodwill of Central Arizona in the purchase of 82,106 square feet of land for a new commercial maintenance facility. The lot, which was purchased from Satnam, LLC, is located just east of central Phoenix… Read More →

Preliminary master development plan for ASU Athletics Facilities District released

ASUAFD Preliminary Master Plan - 6.16.15

Arizona State University (ASU) and Catellus Development Corporation, a nationally recognized master developer, are taking an important step toward creating a world-class urban community immediately adjacent to ASU’s Tempe Campus.  Following several months of due diligence and market analysis, Catellus worked in collaboration with ASU to develop a preliminary master development plan to transform the… Read More →

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 →