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.

Lo-Lo’s Chicken & Waffles to open in Gilbert Dec. 1

Lo-Lo's Exterior, LGE, WEB

You will soon be able to toast your friends, family and favorite soul food at the Scottsdale and Gilbert locations of Lo-Lo’s Chicken & Waffles, constructed by LGE Design Build. Lo-Lo’s Chicken & Waffles in Scottsdale, 3133 N. Scottsdale Road, recently hosted its grand opening. LGE Design Build constructed the 5,400-square-foot location, just a quarter… Read More →

Investment company buys Eastpoint Business Center

Eastpoint Business Center, WEB

Cassidy Turley announced the $6.5 million ($84.08/psf) sale of Eastpoint Business Center located at 3191 N. Washington Street in Chandler, Ariz. Privately held investment management company AICI (El Segundo, CA) purchased the 77,303 square foot property from Dalfen America Corp. of Westmount, Quebec, Canada. Cassidy Turley’s Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve… Read More →

Sundt Construction completes Coyote Center in Chandler

Coyote Center, main

Sundt Construction, Inc. (www.sundt.com) recently completed the $28.6 million Coyote Center at Chandler-Gilbert Community College, Pecos Campus in Chandler, Arizona. In celebration of the multi-purpose facility’s grand opening, city officials came together for a ribbon-cutting ceremony on Sept. 24 to announce the achievement. Serving as a gathering place for the community and a gateway to… Read More →

Clean Energy Contractors outgrows its Tempe location

1888 E Broadway 1, CushWake, WEB

Cushman & Wakefield of Arizona, Inc. negotiated a lease for Clean Energy Contractors, relocating the electrical contracting company to 1888 E. Broadway Rd. The company leased a 26,023-square-foot space, bringing the property to full occupancy. Clean Energy Contractors took possession of the space this week, relocating from 1856 E. 6th St. in Tempe. John Grady,… Read More →

Marbella Ranch Limited Partnership buys 350 acres

Marbella Ranch

Cassidy Turley announced the sale of ±352 acres on the southwest corner of El Mirage and Northern Avenue in Maricopa County to Marbella Ranch Limited Partnership. The Scottsdale-based homebuilder purchased the property for $11.7 million from El Paso Natural Gas Company, LLC, an affiliate of Kinder Morgan. Cassidy Turley Executive Managing Director Brent Moser, Senior… Read More →

Westwood moves to Kierland Office Park

Kierland Office Park
October 10, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Westwood Professional Services, Inc. has moved operations from the Corporate Center at Kierland to the Kierland Office Park, just west from their previous location. With the success of Westwood’s regional residential, mixed use, and renewable energy business, the firm’s new office provides a fresh and enhanced working environment for staff and more collaborative meeting spaces for… Read More →

McCarthy named provider for Mohave Educational Services Cooperative

PHOTO BY: Risk Management | Monitor

McCarthy Building Companies was recently named as an approved general contracting services provider to the Mohave Educational Services Cooperative Inc., which will benefit its more than 430 public agencies and nonprofit entity members across the state for up to the next five years. “McCarthy’s JOC team is pleased to bring proven construction solutions to Mohave members’… Read More →

Denny’s signs ground lease in Yuma

Dennys Marcus and Millichap, WEB
October 9, 2014 by in AZRE Magazine | Blogs | Brokerage | In The Spotlight

Marcus & Millichap announced the sale of Denny’s ground lease, a 4,300-square foot net-leased property located in Yuma , Ariz, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,527,300. Jamie Medress and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market… Read More →

Brookfield Communities breaks ground on model homes at The Ridge

With substantial infrastructure in place, model home construction has begun at Brookfield Communities newest and most unique development, “The Ridge at Fox Creek,” – a new addition to its existing master-planned community along the Colorado River and across from the historic gaming hub of Laughlin, Nev. With building permits secured and major infrastructure – water,… Read More →

Campbell Shops at 24th sell for $2.3M

Campbell Shops at 24, ORION, WEB
October 9, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate announced the closing of the Campbell Shops at 24th Street located at 4517 North 24th Street in Phoenix for $2,300,000 ($263/SF) to Santa Fe Arms LLC, managed by Steve Olafson in Scottsdale, Ariz. The seller was Greenfield-Inverness, LLC based in Phoenix. The property was 57 percent occupied at time of closing.… Read More →

The Village at Gateway Pavilions sells for $23.15M

Village Gateway Pavilions, Cassidy Turley, WEB

Cassidy Turley announced the sale of The Village at Gateway Pavilions, a 240-unit apartment community located at 1700 N. 103rd Avenue in Avondale, Ariz. PEM Real Estate Group, represented by Cassidy Turley Executive Managing Directors David Fogler and Steven Nicoluzakis, sold The Village at Gateway Pavilions for $23.15 million ($96,458 per unit). Alliance Realty Partners,… Read More →

Catellus Development selected as developer for 330-acre ASU project

The 300 acres of land that will become part of the ASU Athletic Facilities District. Photo courtesy of ASU

Arizona State University today announced its selection of Catellus Development Corporation as master developer for the ASU Athletic Facilities District, a unique mixed-use development on 330 acres at the northeast end of the ASU’s Tempe Campus. The District, envisioned as a model for creative urban neighborhood design and sustainable development, will be enlivened by its… Read More →

Cohen Asset Management buys 66KSF warehouse in Phoenix

4346 E Elwood, Lee and Assoc, WEB
October 8, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

A 66,429 SF industrial warehouse at 4346 E. Elwood St. in Phoenix has sold for $5,198,069. Price per SF for the sale was $78.25. The entire site is comprised of 4.68 acres and includes two fenced yards that total .45 acres. The building was 92 percent leased at the time of the transaction. Four Lee… Read More →

Sundt Construction tapped as contractor for barracks renovation

Little Creek Barracks, Courtesy of Sundt

The U.S. Naval Facilities Engineering Command, Mid-Atlantic, Norfolk, Virginia, recently selected Arizona-based Sundt Construction, Inc. as the general contractor for the Bachelor Enlisted Quarters and Central Utility Plant renovations project at Joint Expeditionary Base Little Creek – Fort Story in Virginia Beach, Virginia. Designed in phases to accommodate sailor and soldier loading requirements, the $26.3… Read More →

SheKnows leases 20KSF at Element at Kierland

ElementAtKierland, WEB

CBRE has completed a 20,000-square-foot office lease at Element at Kierland located at 14614 N. Kierland Blvd. in Scottsdale, Ariz. Luke Walker, Dave Carder and Eric Schultz with CBRE’s Phoenix office represented the landlord, Montana Avenue Capital Partners, LLC (MAC) of Santa Monica, Calif. The tenant, Scottsdale-based SheKnows, was represented by Clint Hardison with Keyser.… Read More →