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.

CBRE completes $33.6M sale of Tucson apartments

by in AZRE Magazine | Brokerage | Multi-Family

CBRE has completed the sale of Centrepoint, a 320-unit multifamily community located at 3220 West Ina Rd in Tucson, for $33.6 million. The complex was 96 percent occupied at the time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office, along with Mike Sandahl with the firm’s Tucson office,… Read More →

CBRE’s big box report shows optimism for 2016

Small Businesses getting help in down economy
by in AZRE Magazine | Retail

Big box retail space throughout Tucson saw healthy leasing activity in 2015, particularly spaces in the 10,963 to 100,000-square-foot range, according to CBRE Research’s Big Box Report of 2015. “Over the past year, the Tucson area experienced an increase in demand for a shrinking supply of top-tier retail anchor space,” said Nancy McClure, vice president,… Read More →

SVN Phoenix closes 2015 with $4.5M in deals

by in AZRE Magazine | Brokerage

SVN’s Phoenix office closed out 2015 with $4.5 million worth of sales and leases through collaborative efforts by its retail, office and multifamily teams. SALES Michael Gustafson sold 18,585 square-feet to Pete Coury with Jabbel Holdings, LLC for $2,565,555. The retail property is located at 2737 W. Thunderbird Rd. The Best Buy shops are well-known… Read More →

Midtown Phoenix CBIZ Plaza gets new management

by in AZRE Magazine | Brokerage

Houston-based Boxer Property took over management and leasing at Midtown Phoenix’s CBIZ Plaza, located at 3101 N. Central Ave. in late December. The addition of the CBIZ Plaza totals Boxer Property’s Phoenix portfolio to just over half a million square feet. CBIZ Plaza is a Class A environment offering many options for office space throughout… Read More →

Old Town property sells for $1.25M

Funding Startup Companies Jumpstart Economy
by in AZRE Magazine | Brokerage

Colliers International negotiated the $1.25 million investment sale of the former Pottery Paradise property located in Old Town at 4338 N. Scottsdale Rd. The site is currently fully leased to a Mexican food restaurant, Diego Pops. Stan Sanchez, senior vice president with Colliers, represented the seller, Scottsdale-based Pottery Paradise, Inc. The property was acquired jointly… Read More →

December De Rito Partners Commercial Transactions

123rf:  Andriy Popov
by in AZRE Magazine | Brokerage

De Rito Partners, Inc. December commercial transactions: Pharmacy opening at Hamstra Square in Chandler: Best Care Pharmacy signed a lease at the northeast corner of McQueen Road and Pecos Road in Chandler. Gordon Heckaman and Carl Jones, Jr. represented the Landlord in the transaction for the 1,204 square-foot space. Tenant line-up growing at new Artesian… Read More →

Raintree Corporate Center purchased for $52M

Raintree Corporate Center II & Scottsdale, Cassidy Turley
by in AZRE Magazine | Brokerage

The Raintree Corporate Center, near Frank Lloyd Wright Boulevard and Loop 101, was purchased for $52 million by ViaWest Group in a joint venture with Connecticut-based Contrarian Capital Management. The purchase was executed through, and included two buildings that total about 300,000 square feet. Raintree Corporate Center I, at 15333 N. Pima Rd., is… Read More →

Biltmore Financial Center undergoes renovation

Biltmore Financial Center, Courtesy of CBRE
by in AZRE Magazine | Construction

ViaWest Group is launching a multi-million dollar renovation of the Biltmore Financial Center, three Class A office buildings totaling approximately 635,000 square feet at the northwest corner of 24th Street and Camelback Road. ViaWest is committed to maintaining the legacy of the Biltmore Financial Center while evolving the property for today’s more collaborative work environments.… Read More →

After 61 years, Alter Group rebrands

Alter Group's Arizona Health and Technology Park, AZRE Magazine May/June 2011
by in AZRE Magazine | Newsmakers

The Alter Group changed its name to Alter in a major rebrand that includes a new logo, and a multimedia site after 61 years of business. The Chicago-based national real estate development firm’s President Michael J. Alter announced the rebrand in January. The rebrand recognizes that the company is leaner and faster as it re-focuses… Read More →

7th Gate Center sells for $4M

Zen Class Travel product
by in AZRE Magazine | Brokerage

The 7th Gate Center, a 43,426 square feet office and retail center, sold for $4,025,000, which ORION finalized. The sale was inclusive of the office component and all common areas of the building. The building was constructed in 1985 with renovations made in 2010 and 2015, which included a remodel of the lobby and common… Read More →

Phoenix Financial Center renovation earns design award

shepley bulfinch phoenix office renovation
by in AZRE Magazine

Shepley Bulfinch’s renovation of the South Rotunda of the Phoenix Financial Center took home top honors in the 2015 Interior Design magazine Best of Year (BOY) Awards in the Designer’s Own Office category. Winners were announced at Interior Design’s Best of Year Gala in New York last month and will appear in the next issue of Interior… Read More →

Dig Studio design wins ‘PHX Innovation Games’

Dig Studios Innovation Games
by in Architecture | AZRE Magazine

Phoenix Mayor Greg Stanton announced, Wednesday, that a concept design submitted by architects at Dig Studio was selected as the winner of the second competition of the PHX Innovation Games. In response to the call for innovators, Dig Studio’s Chad Atterbury, Brandon Sobiech, Lauren Smith and Jay Hicks submitted a design concept for the future… Read More →

Lincoln sells $37M 5-building Phoenix portfolio

by in AZRE Magazine | Brokerage | Industrial | Office

In a $37.98 million deal, Lincoln Property Company announced the completion of the sale, Wednesday, of a five-building Northwest Phoenix industrial portfolio to Colorado-based REIT Industrial Property Trust, Inc. The deal includes Lincoln Deer Valley and Lincoln Pinnacle Park assets. “These buildings are 97 percent NNN leased with staggered expirations, and below-market rents that deliver… Read More →

SimonCRE purchases new Scottsdale headquarters

Joshua Simon, Founder, SimonCRE
by in AZRE Magazine | Brokerage

Commercial real estate developer SimonCRE purchased a two-story 7,756 square feet office building for $1.48 million in Scottsdale, which will become its new headquarters. The office space has a basement and is located at 6900 East 2nd Street in Scottsdale. SimonCRE has grown from three employees to sixteen in just over a year. SimonCRE will… Read More →

Construction jobless rates improve in 37 states

by in AZRE Magazine | Construction

Not seasonally adjusted construction unemployment rates improved in 37 states for the month of November, Arizona being one of them going from 7.3 percent to 6.3 percent in November, according to a Associated Builders and Contractors report. Overall, Arizona ranked 24th nationally. The six states with the lowest construction unemployment rates in November were New Hampshire, Colorado,… Read More →