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.

Phoenix Canstruction to benefit St. Mary’s Food Bank Alliance

Taco-taxi-1

The Arizona chapter of the Society for Marketing Professional Services (SMPS) is hosting the 9th Annual CANSTRUCTION® Design Build Competition, August 8, 2015, through August 22, 2015, at the West Building of the Phoenix Convention Center. The event is free to attend and all proceeds benefit St. Mary’s Food Bank Alliance. CANSTRUCTION® is a charity… Read More →

ABI sells downtown Phoenix historic adaptive reuse project

Power Apartments - View 1

ABI Multifamily has announced the $1.165M sale of the Historic Power Apartments located in Phoenix. Originally built in 1914 as apartments, the property was converted and has been run as an office building for many years. The new owner intends to revert the property back into a 12-unit apartment community. “Although there are many new apartment… Read More →

Project News: July/Augst 2015

en Hance Park

Flooring Sky Harbor The City of Phoenix, McCarthy Building Companies and Richard-Bauer will replace approximately 440KSF of Terminal 4 with terrazzo flooring. The project will begin in September 2015 and is expected to be completed in October 2019. Ante up Alliance Residential closed on two multifamily sites in Gilbert and Phoenix in early May. The two developments… Read More →

C & W | PICOR: Early July transactions list

Cenpatico of Arizona, Inc.
July 16, 2015 by in AZRE Magazine | Brokerage | New to Market

SALE Nicon, LLC purchased a 7,444 square foot building at 5744 E. Speedway Blvd. in Tucson from 5744 East Speedway Boulevard, LLC for $562,000. Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the seller and David Hammack with Volk Real Estate, represented the buyer in this transaction. Chargers 1, LLC purchased a… Read More →

Two U-Haul neighborhood dealers open in Mesa

123rf.com: Ken Wolter

U-Haul International, Inc. has announced that Arrow Self Storage and Country Club Chevron has signed on as a U-Haul neighborhood dealer to serve the Mesa community. Arrow Self Storage at 1055 W. Guadalupe Road will offer U-Haul trucks, support rental items and in-store pickup for boxes. Country Club Chevron at 414 W. Guadalupe Road will offer U-Haul… Read More →

CBRE’s recent transaction report for Southern Arizona

Goettl Good Guys AC

CBRE’s Tucson office has released the following recent transactions: LEASES Jackpot Equine has leased 1,750 square feet of industrial incubator space at 6955 N. Camino Martin #105 from Camino Martin Industrial Plaza LLC. The landlord was represented by John Ash with CBRE’s Tucson office. Simplex Grinnell LP has leased 7,193 square feet of R&D/flex space… Read More →

New to Market: July, August 2015

REI Goodyear Distribution Center

RETAIL Crown on 7th DEVELOPER: Buzz Gosnell and Niels Kreipke General Contractor: Alexander Building Company Architect: Brick & West Design Brokerage: Venture REI Location: 7th Street, between Missouri Avenue and Bethany Home Road Size: 18KSF VALUE: $6M redevelopment Start/Completion: November 2014 to summer 2015 MIXED USE CB20 DEVELOPER: Wetta Ventures General Contractor: TBD Architect: Brick… Read More →

Marcus & Millichap sells Phoenix apartments for $3M

123rf.com: feverpitched

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Tidewood, a 49-unit apartment community located in Phoenix, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $3,000,000. Trevor Hardy, investment specialists… Read More →

Lux Air Jet Centers breaks ground at Phoenix-Goodyear Airport

Lux Air Groundbreaking

Lux Air Jet Centers, the Phoenix-Goodyear Airport Fixed Base Operator (FBO) since 2007, was joined by Goodyear Mayor Georgia Lord, City of Phoenix Aviation Department officials and Washington Federal on Friday, July 10 to break ground on its planned Corporate Hangar and FBO Facility at the Phoenix-Goodyear Airport. The nearly $10 million project, slated to… Read More →

L.A. Realty Firm acquires three Phoenix industrial buildings

rsz_industrial_art

Adler Realty Investments, Inc. (ADLER) has purchased three industrial buildings in the Tempe area of Phoenix, AZ for $5.5 million.  The properties, were acquired in two separate transactions, one of which being a sale lease back with the seller.  Adler, which recently sold a land parcel in Phoenix, reinvested the sale proceeds into the projects to successfully… Read More →

Elements Event Center at Ak-Chin Circle opens

Ak-Chin-JC-ext-night-2
July 13, 2015 by in AZRE Magazine | Featured

The Ak-Chin Indian Community unveiled the new Elements Event Center at Ak-Chin Circle at the official grand opening and ribbon-cutting ceremony. This new conference and event center is equipped to host groups from 25-300 people with 11,000-square-feet of indoor and outdoor event space. The versatile center is the perfect host for any event including weddings,… Read More →

Cooper, Cardinal and Company sells Garfield Commons

cooper

Cooper, Cardinal and Company LLC, a boutique multi- family investment brokerage firm with headquarters in Chandler, Arizona, represented the Seller and Buyer in the sale of Garfield Commons Apartments, a 9-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $450,000 equates to $50,000 per unit or $88.24 per square foot. Jack A.… Read More →

DTZ brokers $52M sale of Crossroads Towne Center

Crossroads Aerial_Vegas

DTZ, a global leader in commercial real estate services, has announced that they brokered the $52 million sale of Crossroads Towne Center in North Las Vegas on behalf of the sellers, a company formed by The Eagle Group in Los Angeles. The buyer was a company formed by Cornerstone Advisers of Santa Monica, CA. Built in… Read More →

Colliers International completes $3 Million Phoenix land sale

7th Street self storage

Colliers International in Greater Phoenix recently completed the $3,050,000 million land sale of 3.17 acres near 7th Street and Indian School. The site will be re-developed as a 100,000 +/–square-foot self-storage facility with a small retail component on the site. The William Warren Group Inc. of Santa Monica, Calif., purchased the land, located along 7th… Read More →

Forever 21 joins The Shops at Town & Country

The Shops at Town  Country

The Shops at Town & Country has revitalized the corner of 20th Street and Camelback Road with a multi-phase redevelopment that includes opening 95,000 square-feet of retail and restaurant space since 2012. The current phase of the development will add another 40,000+ square-feet that is scheduled to open by the end of 2015. Forever 21… Read More →