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.

ABA Project Profiles: Arizona’s Finest

Arizona Cancer Center

Arizona Builders Alliance is a partnership between the Arizona chapters of the Associated Builders & Contractors (ABC) and the Building Chapter Associated General Contractors (AGC). It represents more than 250 contractors, suppliers and professional service firms in the commercial construction industry. Here are spotlight projects its members have been working on this year. Airport I-10… Read More →

ABI funds the sale of Palm Valley Apartments for $27.2M

Palm Valley Apartments Photo

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, has announced the $27,200,000 / $103,030 Per Unit sale of the 264-unit, Palm Valley Apartments in Goodyear, AZ. Palm Valley, originally built in 1997/98, features spacious 1, 2 and 3-bedroom units with a weighted average size of approximately 893 square feet with full size washer/dryer in… Read More →

Former home of Caliente Construction sold for $101/SF

Caliente

GPE Commercial Advisors, an award winning commercial real estate firm in Arizona, secured the sale of the former home of Caliente Construction, a 6,027 SF one-story flex/industrial building located at 242 South El Dorado Circle in Mesa for $610,000 ($101/SF). “Caliente Construction is so pleased with the way GPE Companies managed the sale of our… Read More →

Dwell Apartment Homes sell for over $14M

Dwell Apartments

Cushman & Wakefield of Arizona, Inc. completed the $14.275 million sale of Dwell Apartment Homes, 1923 N. 70th St. The complex was constructed as two separate projects 1963 and 1975. They were later unified as one apartment complex. The recently renovated Dwell Apartment Homes development contains 193 modernized apartment units totaling 22,455 square feet ($116.35… Read More →

Hayden Ferry 3 gets a new tenant

Hayden Ferry Lakeside in Tempe

Savills Studley represented utility software company iFactor with its long-term lease agreement at the new Hayden Ferry 3 development under construction in Tempe. Ryan Bartos and Matthew Coxhead of Savills Studley’s Phoenix office negotiated the transaction on behalf of iFactor; Bryan Taute of CBRE represented the landlord, Parkway Properties, Inc. iFactor signed a lease for… Read More →

ABI sells multifamily asset in 16th Street Corridor

Palm Vista Photo
August 10, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, announced the sale of the Palm Vista Apartments a 40-unit, apartment community for $1,950,000 or $48,750 Per Unit. Originally built in 1982, Palm Vista Apartments is comprised of two contiguous buildings that are constructed of block and wood with pitched roofing. Over the last several… Read More →

Second quarter 2015 brokerage reports

National League of Cities Gathering

With the closing of the second quarter and first half of 2015, brokerages around the Valley provided their numbers and predictions for the last and next six months in various commercial sectors. Q2 OFFICE REPORTS Cushman & Wakefield CBRE C&W|PICOR Marcus & Millichap DTZ Colliers (Office) Colliers (Medical Office) JLL Q2 INDUSTRIAL REPORTS C&W|PICOR CBRE… Read More →

DTZ sells Phoenix industrial property for $4.6 Million

USG

DTZ, a global leader in commercial real estate services, announced the $4.6 million sale of a single-tenant industrial property occupied by United State Gypsum Corp. (NYSE: USG) at 5061 N. 51st Avenue in Phoenix. R&H Investments of Los Angeles purchased the ±99,923 square foot manufacturing and distribution building from Camelback Industrial, LLC of Santee, CA.… Read More →

Marcus & Millichap elects executive vice president investments

123rf.com: Sergey Nivens
August 9, 2015 by in AZRE Magazine | Newsmakers

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has named Peter Katz an executive vice president investments, according to John J. Kerin, president and chief executive officer, and Don Morrow, regional manager of the firm’s Phoenix office. Most recently Katz held the position of… Read More →

CBRE releases recent July transactions

lease
August 9, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

CBRE’s Tucson office has released the following recent transactions: LEASES: Mattress Pro has leased a 3,500 square foot freestanding retail pad building, 4755 E Grant Rd, in Crossroads Festival from Scarlet Investments, R.L.L.C. The tenant was represented by Darren Pitts and Michael Clark with Velocity Retail Group LLC. The landlord was represented by Nancy McClure, David… Read More →

Viable solutions to the 1031 exchange time crunch

123rf.com:  Willy Deganello
August 9, 2015 by in AZRE Magazine | Industry Insiders

The real estate market entered 2015 on solid footing with many markets at or above pre-recession levels.  Along with these prices come many owners interested in selling their properties and searching for a viable replacement property as they plan to utilize the section 1031 exchange to defer their capital gains taxes. Many investors are tired… Read More →

Carefree approves $45M luxury downtown condo project

TOCFEasyStreetRendering08-05-15

Carefree further strengthened its image as one of Arizona’s emerging residential and commercial development areas with the approval by the Town Council of Easy Street, a $45 million project of luxury condominiums in the downtown Carefree area by developer Ed Lewis. Mr. Lewis, through his Scottsdale-based Butte Companies, recently developed The Landmark ultra-luxury urban condominiums… Read More →

Colliers completes long-term lease for Avesis Incorporated

123rf:  Andriy Popov
August 8, 2015 by in AZRE Magazine | Brokerage

Colliers International in Greater Phoenix recently represented Avesis Incorporated in a long-term office lease totaling +/- 55,501 square feet at the Corporate Center, located at 10400 North 25th Avenue in Phoenix. The tenant was represented by Todd Noel, CCIM, executive vice president with Colliers International. The landlord, Bob Olshan, vice president and Phoenix office head… Read More →

Pioneer Shopping Center in Yuma sells for $13.7M

Pioneer Shopping Center_Yuma

DTZ, a global leader in commercial real estate services, announced the $13.7 million sale of Pioneer Shopping Center in Yuma, AZ, on behalf of the seller, Realty Resolution Advisors, LLC (RRA) of Phoenix. The buyer was Los Angeles-based Pioneer Shopping Center, LLC (dba Kornwasser Shopping Center Properties). Pioneer Shopping Center is located on the southwest… Read More →

Caretaker Landscape and Tree Management expands

Caretaker Team Photo

Twenty-seven years ago, Susan Stephenson Harris, a retired banker from Oklahoma, moved to Arizona to relax and play golf. Six months later, in 1988, she started Caretaker Landscape and Tree Management as a hobby. In 1997 Matt White joined the Caretaker team and in 2007 he became the sole owner of Caretaker Landscape and Tree… Read More →