Author Archives: 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.

Fidelity National Title Agency promotes Dena Jones

by in AZRE Magazine | Newsmakers

Dena M. Jones has been promoted to Director of Strategic Partnerships, Assistant Vice President at Fidelity National Title Agency, a national leader in title insurance and real estate services.       Jones, who celebrates her third anniversary at Fidelity National Title in October, will be responsible for strengthening the company’s relationship within the real… Read More →

$12M renovation will transform Scottsdale Inn into Hotel Adeline

by in AZRE Magazine

Formerly known as Scottsdale Inn, the 4.5 acre property is currently undergoing a $12 million renovation and will debut as Hotel Adeline in fall 2017. The stylish new boutique hotel broke ground this month and is being developed by Los Angeles-based ESI Ventures and managed by New Orleans-based HRI Lodging, LLC. The property will be transformed into a contemporary urban… Read More →

Valley Partnership’s 2017 legislative wins

This year’s Legislative session lasted 122 days and of the 1,079 bills originally posted, 353 were passed. Of the 353 bills passed, 342 were signed into law and 11 were vetoed by Gov. Doug Ducey. Cheryl Lombard, president and CEO of Valley Partnership, an advocacy group for responsible development, describes the session as good from… Read More →

Henkel seeking buyer for iconic Scottsdale headquarters

The prestigious North Scottsdale office market — home to several of Arizona’s largest and most notable employers, including HonorHealth, Vanguard, Fender and Quicken Loans — now boasts one of the most desirable investment/occupier opportunities in the country with the Henkel headquarters now on the market. German-based consumer products global leader, Henkel, is seeking a buyer… Read More →

Grand Canyon University buys 3-property portfolio for $4.7M

by in AZRE Magazine

ABI Multifamily, one of the Western U.S.’s leading multifamily brokerage and advisory services firm, announced the $4,700,000/$62,667 per unit sale of the 40-unit Suntree Apartments, 32-unit Casa Quieta Apartments and 5101 N. 28th Dr. Tri-Plex located in Phoenix.The buyer is Grand Canyon University. The three contiguous properties are all garden-style communities which rest on approximately 3.41… Read More →

Goodyear lands new $180M UPS facility

UPS announced plans today for a new $180 million package processing hub in Goodyear, near the Loop 303 Freeway and I-10, to increase its processing capacity for e-commerce. The phased hub construction modifies a 618,000-square-foot structure on 140 acres in the PV303 Development. A portion of the building is expected to begin operating later this year in… Read More →

Landmark Flagstaff office building sells for $6M

by in AZRE Magazine

A Flagstaff landmark property, the AWD II professional office building, sold May 25, 2017 for $6,000,000. Dennis Kelly, broker with Flagstaff Coldwell Banker Commercial Advisors sold the building on behalf of AWD II, LLC.  The Buyer, Rink Realty Trust acquired the prized asset and was represented by Allen Ginsberg, broker, principle, with Coldwell Banker Dallas… Read More →

ULI program will explore housing model of the future

by in AZRE Magazine

The American Dream is changing to embody new technologies and desire for different living options.      How are homes of the future being transformed through innovation, including non-traditional options for changing demographics and markets? This and other questions will be answered at its next Main Program as ULI Arizona explores new tactics developers and builders… Read More →

Optima Kierland condominium tower topping out

by in AZRE Magazine | Construction

The last concrete beam has been placed atop 7120 Optima Kierland, signaling the culmination of this phase of construction and the beginning of a new era of luxury, high-rise condominium living in North Scottsdale. Optima Kierland’s structure is now complete with more than 60 percent of the homes in the first condominium tower now sold.… Read More →

Construction unemployment rates improve in 22 states

by in AZRE Magazine | Construction

April’s not seasonally adjusted (NSA) construction unemployment rates were down in 22 states and unchanged in two (Arkansas and California) on a year-over-year basis, according to analysis released today by Associated Builders and Contractors (ABC). However, the national NSA construction unemployment rate of 6.3 percent was up 0.3 percent from April 2016, according to data from the… Read More →

Construction starts on Zero Energy Star certification Townhomes

by in AZRE Magazine

Real estate investment firm, Caliber – The Wealth Development Company partnered with one of the nation’s leading Net Zero Energy (NZE) developers, MODUS Development, on their second project, Eclipse, which officially broke ground and has begun development. This is Scottsdale’s newest environmentally sustainable townhome community, designed with Zero Energy Star certification for maximum energy efficiency.… Read More →

Midtown apartments, Club 7, sell for $19M

Club 7
by in AZRE Magazine | Brokerage | Multi-Family

Club 7 Apartments, a 219-unit, urban infill multifamily community at 3030 N. 7th St., Phoenix, sold for $19,000,000 or $86,758 per door. Lee & Associates brokers Todd Braun, principal, and Bryson Fricke, associate sold the property on behalf of Oregon-based 3030 North Equity LLC. The sought after property was in high demand with multiple offers.… Read More →

Upcoming Chandler Airpark secures first two tenants

Chandler Airpark
by in AZRE Magazine | Brokerage

Chandler’s newest industrial development by California-based Silagi Development & Management (SDM) welcomed its first two users to the park upon completion of the development, Chandler Airpark. The DeMichele Group, a provider of software and equipment for the fenestration industry, acquired Building B totaling 17,149 square feet at 2110 S. Douglas Dr. California-based labor law poster All In One… Read More →

Wine distributor buys Phoenix facility for $20.5M

Wine distributor
by in AZRE Magazine | Brokerage | Industrial

On behalf of Young’s Market Company of Arizona, a family-owned distributor of wines, spirits and select beverages, Cushman & Wakefield recently negotiated the purchase of 402 S. 54th Place in Phoenix for $20.5 million. The seller was Los Angeles-based Barley Equites V LLC. Andy Markham, SIOR, Will Strong, Mike Haenel and Phil Haenel of Cushman & Wakefield represented Young’s Market Company of Arizona. The team represented Young’s in previous site selections, including the… Read More →

Village at Hayden sells for $26.45M

Village at Hayden
by in AZRE Magazine | Brokerage

Holliday Fenoglio Fowler LP (HFF) closed the $26.45 million sale of The Village at Hayden, a 156,751-square-foot mixed-use development in Scottsdale, Arizona. HFF marketed the property on behalf of the seller, Village at Hayden LLC, a partnership comprising AEW Capital Management LP and The Muller Company. HFF also procured the buyer, Arizona Partners.  The property… Read More →