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.

IPA sells $24.35 million Phoenix apartment community

Cabana on Thomas - Gebing

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, is pleased to announce the sale of Cabana on Thomas, a 382-unit apartment home community in Phoenix. The $24,350,000 sales price equates to approximately $64,000 per unit. IPA senior director Steve Gebing and Marcus &… Read More →

BH Properties purchases 230,524 SF, three-property portfolio

DMC Portfolio_Ocotillo Business Center_Kyrene

DTZ announced the sale of the DMC Portfolio, a ±230,524 square foot, three property portfolio in Tempe and Chandler. BH Properties, LLC (Los Angeles) purchased the portfolio for $22.85 million from Buchanan Street Partners (Newport Beach, CA). Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley and Associate Ben Geelan of DTZ’s Phoenix office… Read More →

Bank 34 leases 10KSF at The Pinnacle


Bank 34 has leased 10,500 square feet of Class A office space at The Pinnacle in Kierland IV, a development of Furst Properties. The location, 14850 N. Scottsdale Road, is the New Mexico-based bank’s fourth full-service banking center. Other branches are located in Peoria, Ariz., Alamogordo, N.M., and Las Cruces, N.M. The bank’s name reflects… Read More →

K. Nicole Flores joins Rainbow Housing board

May 9, 2015 by in AZRE Magazine | Newsmakers

Rainbow Housing Assistance Corporation (Rainbow), a nonprofit organization that provides service-enriched housing programs for residents of rental housing communities throughout the country, has announced K. Nicole Flores, senior vice president for the Austin office of City Real Estate Advisors, has been elected to its board as a director for 2015. With a background in several… Read More →

Sensei Project Solution gets Luhrs City Center’s 9th Floor

(Credit Hansji):

Luhrs City Center (LCC) announced a new addition to its already impressive tenant roster that is making it a tech industry epicenter. Scheduled for completion in mid-May, Sensei Project Solutions will occupy a custom-designed, open floor plan office suite and technology training center unspooling across the entire 9th floor of the LCC’s historic Luhrs Tower.… Read More →

ViaWest acquires 9 acres of industrial land in Deer Valley

Cemex Aerial

ViaWest Group is received a new addition to its expanding portfolio, with the recent successful acquisition of the ±9.02 acres of land in Deer Valley. The property is located at the NEC of Central and Pinnacle Peak Rd. at 50 & 100 E. Pinnacle Peak Rd. in Phoenix, AZ. Zoned A-1, the land is currently… Read More →

Patrick Burch and John Klocek join ABI Multifamily

May 8, 2015 by in AZRE Magazine | Newsmakers

ABI Multifamily is adding Patrick Burch and John Klocek to the organization as vice presidents. John Kobierowski, Senior Managing Partner, states, “After an exceptionally strong first year of operations, we have aggressively courted top talent to join our ever-growing, dynamic team. Burch and Klocek have extensive experience in real estate development, construction and rehabilitation, as… Read More →

LNR Partners completes sale of properties at Cotton Center

Cotton Corporate Center I

DTZ announced that LNR Partners, LLC has closed two investment sale transactions involving a total of ±264,000 square feet of office and flex office space within the prestigious Cotton Center business park. The purchaser was a joint venture formed by True North Management Group (White Plains, NY) and Crown West Realty, LLC (a Phoenix-based subsidiary of… Read More →

Churchhill Commercial Capital gains new senior vice president

May 7, 2015 by in AZRE Magazine | Newsmakers

Churchill Commercial Capital, Inc. has hired Don Burnes as senior vice president to assist his clients with their debt and equity needs for commercial properties. Burnes brings an extensive 35+ year career of commercial real estate finance and investment experience focused on both debt and equity for a diverse set of property types. Burnes has… Read More →

Gilbert Square Apartments sells for $10.7M

Gilbert Square photo 1

Berkadia announced the recent loan origination and sale of Gilbert Square Apartments, a multifamily property located at 1821 E. Covina Street in Mesa, Arizona. Assistant Vice President Chad Williams of the Phoenix office originated the fixed-rate loan through Berkadia’s Fannie Mae Program. Senior Partner Mark Forrester, Partner Ric Holway and Vice President Dan Cheyne, also… Read More →

CPI sells 5 industrial acres in Phoenix

Land3502 New Brochure

Commercial Properties, Inc. has sold ±5 acres located at 3502 E. Roeser Rd. in Phoenix. Jeff Hays, Chad Neppl and Ryan Steele of CPI’s Tempe Industrial Team represented the seller, Hadco Corporation, in this $1.58 million sale. The site offers convenient freeway access and is located south of Broadway Road and east of 32nd Street. … Read More →

Bobby Mendez joins Adolfson & Peterson Construction

May 6, 2015 by in AZRE Magazine | Newsmakers

Adolfson & Peterson Construction (A&P) is pleased added Bobby Mendez to the organization as Project Manager. “Bobby’s experience with varied project types, energy and competence make him a truly great addition to the A&P family,” states Jeff Keck, Vice President for A&P’s Arizona office. Mendez brings 10 years of local construction experience. He has managed projects… Read More →

Furst Properties gets a new VP of property management

May 6, 2015 by in AZRE Magazine | Newsmakers

Furst Properties has promoted Tammy Gibbons to vice president of property management, overseeing the firm’s 661,000-square-foot portfolio of Class A commercial office buildings in Scottsdale. Gibbons, who oversees nine staff members, ensures the buildings stand out from other Class A office properties in the Valley, provides frequent communication with tenants and strengthens the firm’s customer… Read More →

Population growth to drive healthcare demand


THE BROADER VIEW The Greater Phoenix medical office market is being supported by demographic factors, with the expanding local population base fueling demand for healthcare services. These trends should continue in the years ahead, following a lull brought on by the recession. While the long-term sources of demand are in place, the healthcare industry continues… Read More →

Andy Romance to lead water team

May 5, 2015 by in AZRE Magazine | Newsmakers

Dibble Engineering added the new addition of Andy Romance, PE, as Senior Project Manager. Andy’s 29 years of progressive civil engineering design experience is combined with public policy-making government leadership and organizational management achievements. Andy’s diverse expertise will lead Water/Wastewater teams to best meet client needs and goals. Prior to joining Dibble, Andy was Principal… Read More →