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.

After Hours: Meet William M. Olson

Bill Olson
September 3, 2014 by in After Hours | AZRE Magazine | Featured

WILLIAM M. OLSON SENIOR VICE PRESIDENT, DIVISION MANAGER, NEWLAND REAL ESTATE GROUP YEARS AT COMPANY: 1; in commercial real estate development industry: 31 years BORN/RAISED: Michigan EDUCATION HIGH SCHOOL: Scottsdale, Ariz. UNIVERSITY: Arizona State University, Tempe, Ariz. Dual General Contractors Licenses AZ Real Estate Broker’s License Several professional certifications FAVORITES SPORTS: Hockey, golf, football MUSIC:… Read More →

Supreme Court opinion clarifies lien priorities for project contractor

PHOENIX–(BUSINESS WIRE)–The Supreme Court of the State of Arizona released an opinion on Aug. 26 that Arizona Revised Statutes 33-992(A) does not preclude equitable subrogation to establish priority over mechanics’ liens. This ruling was made in response to The Weitz Company, LLC. Plaintiff-Appellee, v. Nicholas Heth, et. Al., Defendants-Appellants. The case ties back to the… Read More →

Offices at Sundown Ranch sold

Offices at Sundown Ranch, WEB
September 3, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Commercial Properties, Inc. announced the sale of The Offices at Sundown Ranch.  Eric Butler of CPI’s Scottsdale Office Group represented the seller in this transaction.   The 6,291 SF, Class B office condo is located at 8434 E Shea Blvd., in Scottsdale, Arizona and is right off Shea Blvd., just west of the Loop 101. … Read More →

HTA closes $89M in acquisitions in August

Healthcare Trust of America
September 3, 2014 by in AZRE Magazine | Featured | In The Spotlight | Investment

Healthcare Trust of America, Inc. (NYSE:HTA) announced today that it had closed on approximately $89 million of investments in August 2014, increasing its total investment activity to approximately $300 million in 2014. This represents an approximate 10 percent portfolio growth rate year. These third quarter acquisitions includes two separate investments in medical office buildings (“MOBs”)… Read More →

Road Machinery buys 113KSF warehouse in Phoenix

317 S. 48th St, Lee Associates, WEB
September 3, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

A Phoenix-based company bought a 113,827 SF industrial warehouse facility at 317 S. 48th St. in Phoenix for $9,200,000 or $80.82 per SF. The transaction closed on Aug. 22.   Lee & Associates Principal Ken McQueen represented the buyer, Road Machinery, LLC. The seller was Verde Investments, Inc. of Phoenix.   The building, which sits… Read More →

ZK Grill leases space at Gilbert Crossing

ZK Grill, SRS, WEB
September 2, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

SRS Real Estate announced ZK Grill, a Mediterranean fast casual restaurant,  has leased a 2,347-square-foot space at the northeast corner of Guadalupe and Gilbert roads in Gilbert, Ariz.     Other notable tenants located within Gilbert Crossing include: Power MMA & Fitness, Firestone, Meridan Bank, and Tots Unlimited. This will be ZK Grill’s fourth location… Read More →

CBRE hires two first vice presidents

CBRE has hired First Vice Presidents Brian F. Raczynski and Tim Watters, two tenured, well-respected commercial real estate professionals, to join the firm’s Office Services Group in Phoenix.  They will partner on a team that will deliver integrated, strategic landlord advisory services including asset management and the acquisition, disposition and leasing of office space in… Read More →

Alter Asset Management named PM for Corridors

rsz_corridors_phoenix

Alter Asset Management (AAM) has been awarded the contract to provide comprehensive property management services for the 80-acre Corridors – Phoenix mixed-use park.  Comprising four buildings totaling 164,410 SF, the park was recently acquired by Adler Realty Investments, Inc. Samuel F. Gould, President of AAM, made the announcement. Adler Realty Investments, Inc. (Adler) is a… Read More →

Michael Pollack donates to Women of Power International

Michael Pollack
September 2, 2014 by in AZRE Magazine | In The Spotlight

The well-being of women and children in a community is vital to its growth and prosperity. No other entrepreneur knows this better than Michael Pollack, president of Mesa-based Pollack Investments. The Valley real estate mogul is once again donating to Women of Power International (WOPI) to continue his unrelenting dedication to the community. This year,… Read More →

Lakeview at Superstition Springs sells for $66.6M

Lakeview at SSprings v2, CBRE WEB

CBRE has completed the sale of Lakeview at Superstition Springs, a 676-unit apartment complex located at 1849 S. Power Rd. in Mesa, Ariz. The multifamily asset sold for $66.6 million. The property was 95 percent leased at time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office represented the… Read More →

CBRE leases 67KSF to Arizona’s newly created CSFS agency

West 101 Corporate Center, CBRE, WEB

CBRE has completed two office leases totaling 67,335 square feet in Metropolitan Phoenix. The leases are representative of new office requirements by Arizona for the newly created Child Safety and Family Services agency (CSFS). A 26,265-square-foot, full-floor space in West 101 Corporate Center, which is owned by Los Angeles, Calif.-based Regent Properties and located at… Read More →

OSA Janitorial Service becomes licensed dealer of Ceiling Pro International

OSA Janitorial Service of Phoenix recently was named a licensed dealer of Ceiling Pro International (CPI), a leader in the commercial ceiling cleaning industry. Based in Eden Prairie, MN, CPI was founded nearly 25 years ago and offers 18 bio-degradable, proprietary products to clean and sanitize ceilings. OSA Janitorial Service has been owned by Brad… Read More →

Noble, Orcutt named market leaders for Cushman & Wakefield

Jerry Noble and Jackie Orcutt

Cushman & Wakefield Inc. has named Jerry Noble and Jackie Orcutt as Market Leaders of its Arizona operations in Phoenix. Noble and Orcutt have previously served as leading commercial real estate professionals for C&W in Phoenix. “We could not be more pleased with our decision to entrust our Phoenix operations to Jerry and Jackie,” says… Read More →

Calif. investment firm takes Chandler Iridium facility for $12.7M

1800 S. Price, Lee Associates, WEB

A 69,429 SF fl ex manufacturing facility and an adjacent 2.97 AC parcel at 1800 S. Price Rd. in Chandler has been sold for $12.65M. The building is fully-leased to Iridium Communications with an estimated 10 years remaining on their lease. Cohen Asset Management, Inc., a California-based private real estate investment fi rm purchased the… Read More →

Valley retail portfolio sells for $150M

Target-Village Center, CBRE, WEB

CBRE has completed the sale of the Phillips-Edison Fund IV Portfolio. The nine-property retail portfolio sold for $150 million and totals over 1.35 million square feet. Jesse Goldsmith and Steve Julius of CBRE in Phoenix, Ariz., along with Christian Williams and Gleb Lvovich of CBRE’s National Retail Investment Group, negotiated the sale between the seller,… Read More →