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.

ViaWest Group acquires Tiger Industrial Center

Tiger Industrial Center, via ViaWest Group

ViaWest Group announced the recent acquisition of two multi-tenant, industrial buildings collectively referred to as Tiger Industrial Center. Located at 4901 & 4929 W. Van Buren, the complex is comprised of 103,064 SF. Sold on December 30, 2014, Phoenix-based ViaWest Group paid $4.55MM acquisition. This is the first acquisition in ViaWest’s new fund focused on… Read More →

Peoria CVS Pharmacy sells for $6M

Courtesy of CBRE
January 12, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

CBRE has completed the sale of a single-tenant, triple-net leased CVS Pharmacy located at 8332 West Thunderbird Road in Peoria, Ariz. The 13,813-square-foot retail property is situated on approximately 79,201 square feet of land.  The property commanded a sale price of $6 million, or $434.37 per square foot. Joseph Compagno, Andrew Fosberg and Molly Busch… Read More →

Fairview Medical Center breaks ground near Chandler Regional

Fairview Medical Plaza, Courtesy of Cawley Architects and LGE Design Build

LGE Design Build has started construction on Fairview Medical Center, a 20,250-square-foot medical office building, near the Chandler Regional Medical Center and Loop 202. Brain & Spine Center and Desert Kidney Associates will be the first tenants to open offices in the Fairview Medical Center, 2201 W. Fairview, next summer. “LGE Design Build is seeing… Read More →

Starbucks in Tempe sells for $2.5M

Courtesy of CBRE

CBRE has completed the sale of a single-tenant, Starbucks located at 1741 E. Warner Road in Tempe, Ariz. The 2,720-square-foot retail property is situated on approximately 32,452 square feet of land and commanded a sale price of $2.5 million. Joseph Compagno with CBRE’s Phoenix office represented both the buyer and the seller in the transaction.… Read More →

New office breaks ground at Cambridge Watermark

Cambridge Watermark, Courtesy of Cawley Architects and LGE Design Build

LGE Design Build has started construction on a 12,939-square-foot, two-story office building at the Cambridge Watermark office plaza in Chandler to respond to growing demand for office properties. Eric Pyles, who owns a nearby 34,000-square-foot office building, has hired LGE Design Build to construct a companion office building located at 2450 S. Gilbert Road to… Read More →

Class-B Apache Junction apartments sell for $9.66M

Indian Wells, Courtesy of Colliers
January 12, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Colliers International in Greater Phoenix recently completed the sale of Indian Wells, a 176-unit, class-B multifamily complex in Apache Junction, for $9.66 million, or $54,886 per unit, which is $54.88 per square foot. Sonoma Valley LLC of Scottsdale purchased the property, at 975 South Royal Palm Road, from CSFB 2004-C5 Apache Apartments, LLC a subsidiary… Read More →

Pinnacle South Mountain sells for $63M

Pinnacle South Mountain, Courtesy of CBRE

CBRE has completed the sale of Pinnacle South Mountain located at 5151 E. Guadalupe Road in Phoenix, Ariz. Pinnacle South Mountain is a luxury apartment community which consists of 552 units. The asset commanded a sale price of $63 million. Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the… Read More →

BOMA Greater Phoenix announces 2015 president

Lincoln Property Company (LPC) announced the appointment of Senior Property Manager Megan Watkins as 2015 President of the Building Owners and Managers Association (BOMA)–Greater Phoenix. With 315 current members, BOMA-Greater Phoenix serves as one of the Valley’s leading organizations providing education and advocacy for the commercial real estate industry. Watkins joined BOMA-Greater Phoenix in 2004.… Read More →

Westgate is getting a Dave & Buster’s this fall

Fountain Park at Westgate

Dave & Buster’s, an arcade, bar and event venue for adults, will open at Westgate Entertainment District in Glendale this fall. Westgate’s owner, iStar Financial, will begin construction on a new, 41,000-square-foot building located to the west of AMC Theatres that will expand the existing entertainment district. Dave & Buster’s will join AMC as an… Read More →

ULI Arizona’s 10th annual Trends Day

real estate - expanding to california
January 12, 2015 by in AZRE Magazine | Real Estate

January 2015 is an important time as Arizona hosts the Pro Bowl, the Phoenix Open, and the Super Bowl – all in one week! Leveraging this energy, The Urban Land Institute Arizona District Council (ULI) 10th Annual Trends Day Conference will be held on January 28, 2015 at The Phoenician in Scottsdale. This one-day deep dive into the… Read More →

Scottsdale Horizon Shopping Center is sold

Scottsdale Horizon
January 11, 2015 by in AZRE Magazine | Featured | Real Estate

DTZ, a global leader in commercial real estate service, announced today that a Dallas based private real estate fund advised by Crow Holdings Capital – Real Estate (CHC–Real Estate) sold Scottsdale Horizon Shopping Center, a 154,766 square foot neighborhood shopping center located at 14850 N. Frank Lloyd Wright Boulevard in Scottsdale, AZ. Weingarten Nostat, Inc. (Houston)… Read More →

Colliers Int. sells Chandler Corporate Center

Main Photo_Chandler CC
January 10, 2015 by in AZRE Magazine | Featured | Investment | Real Estate

Colliers International in Greater Phoenix recently completed the sale of the Class A, 68,443-square-foot Chandler Corporate Center II, which was 100 percent occupied at the time of the sale. Palisades Capital Realty Advisors of Los Angeles purchased the building, located at 500 North Juniper Drive in Chandler, from The Rockefeller Group. Mindy Korth, executive vice… Read More →

Cushman & Wakefield negotiates $2M sale

Fate Brewing  Rendering

Cushman & Wakefield of Arizona’s Retail Services Division negotiated the $2 million sale of 1312 N. Scottsdale Rd., which will be the new home of Fate Brewing Company. Brian Kocour and Courtney Auther Van Loo of Cushman & Wakefield represented the seller, SBI Leasing Inc. of Scottsdale. Scottsdale-based real estate investor Tom Frenkel was the… Read More →

Velocity Retail promotes two brokers

John Jackson
January 9, 2015 by in AZRE Magazine | Newsmakers

Velocity Retail Group, LLC announced Friday that retail brokers John Jackson and Larry Miller, Jr. have been promoted to associate vice president. “Both John and Larry are known for providing their clients with excellent service and superior real estate expertise,” said Greg Coxon, Chief Administrative Officer at Velocity.  “They are an integral part of the… Read More →

CBRE closes more than $6.4M in transactions

The Brittany
January 8, 2015 by in AZRE Magazine | Multi-Family | Real Estate

CBRE has negotiated the following multi-family sales transaction(s): Asset Preservation, Inc. from Los Angeles, California has purchased Desert Green Apartments, a 16-unit multi-family property located at 16243-16401 North 31st Street in Phoenix, Ariz., from Dramms, LLC of Poway, California. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented both the buyer and the seller… Read More →