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.

Groundbreaking ceremony held for Merrill Gardens at Anthem


Adolfson & Peterson Construction (A&P) participated in a groundbreaking celebration for the new Merrill Gardens at Anthem senior living community on July 29th. Over 100 people, along with representatives from Merrill Gardens, Urbal Architecture, Anthem Chamber of Commerce and Anthem Community Council, were in attendance for the celebration. Attendees of the event were treated with… Read More →

Bob Bambauer named senior vice president of Sunbelt

August 15, 2015 by in AZRE Magazine | Featured | Newsmakers

Sunbelt Holdings has promoted Bob Bambauer, P.E., to senior vice president. Bambauer, who has been with Sunbelt Holdings since 2007, oversees the planning and development of Sunbelt Holdings’ large-scaled properties in the West Valley and Tucson markets. A veteran to civil engineering and home building, Bambauer has over 30 years’ experience in entitlements, land acquisitions,… Read More →

P.B. Bell adds four properties to management portfolio


P.B. Bell, a leader in multi-family housing development, management and acquisitions, has added four properties to its growing management portfolio.  The additions expand P.B. Bell’s reach in the East Valley with properties in Gilbert, Tempe, Old Town Scottsdale and North Scottsdale. “Our goal is to maximize the resident experience at every apartment community we manage,… Read More →

CBRE completes $4.1M sale of Greenbrook apartments

August 14, 2015 by in Blogs

CBRE has completed the sale of Greenbrook, an 80-unit multifamily apartment complex located at 3536 E. Cambridge Avenue in Phoenix. The property was sold for $4.1 million, or $52,188 per unit. Greenbrook B and L LLC of Tustin, California purchased the property from Greenbrook Apartments LLC of Incline Village, Nevada. Brian Smuckler and Jeff Seaman… Read More →

ViaWest continues rapid growth with nine new hires

hire employee job
August 14, 2015 by in AZRE Magazine | Careers | Newsmakers

ViaWest Group continues to build on their impressive portfolio growth by acquiring more than just properties. The commercial real estate company recently hired nine new employees to their team. With over 2.0MM s.f. of properties owned and 2.5MM s.f. of properties under management, ViaWest has seen unprecedented growth coming out of the recession a few… Read More →

Ground breaks on 215,000 SF industrial building in Tempe

2040 W Rio Salado Parkway - Liberty Center at Rio Salado - Tempe AZ - co...

Liberty Property Trust has announced that it will break ground on its first industrial development project in Liberty Center at Rio Salado in Tempe, Arizona to meet tenant demand. Development will commence immediately at 2040 W. Rio Salado Parkway, with expected delivery by the end of 2015. Liberty has previously completed two LEED Gold speculative… Read More →

Velocity Retail recent August transactions

Park West Shopping Center

The following is a summary of recent retail transactions completed by Velocity Retail Group, LLC. Anytime Fitness opening in northeast Phoenix Michael Clark, Larry Miller and John Jackson from Velocity Retail represented the landlord, Scottsdale Land Company, LLC, an entity of Wadsworth Development, in the 5,955 square foot 10-year transaction at the northeast corner of Thunderbird… Read More →

Cabana apartments in Tempe trades hands at $5 million

Cabana on Seventh

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of Cabana on Seventh, a 74-unit apartment property in north central Phoenix. The $5 million sales price equates to $67,568 per unit. Steve Gebing, a senior director of Institutional Property… Read More →

UnitedHealthcare launches app to help Medicaid members ldprod
August 13, 2015 by in AZ Business Magazine | Featured | Healthcare | Tech

UnitedHealthcare, a UnitedHealth Group (NYSE: UNH) company, is introducing its mobile app Health4Me® to Medicaid beneficiaries in 17 states, enabling plan participants to access important health information anytime, anywhere. The app enables people enrolled in UnitedHealthcare Medicaid plans to more easily manage their health benefits and navigate the health system, including: Accessing personal coverage health… Read More →

Automätik parent company obtains Phoenix building for $3.3M

automatik_3419 E University Dr_Tempe
August 12, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

DTZ, a global leader in commercial real estate services, announced that Tempe Auto Drive LLP, a subsidiary of automätik, has purchased a 38,766 square foot garden office/flex building at 3419 E. University Drive for $3.3 million. The seller was ICIC Commercial Investments 2, LLC. DTZ Vice President Justin Himelstein with the firm’s Occupier Services Office… Read More →

SimonCRE reflects celebrates five years of success

Joshua Simon, Founder, SimonCRE

In five years, SimonCRE has grown from a three-person operation to a thriving commercial real estate development firm with fifteen employees and an extensive portfolio of projects purchased and developed stretching from Oregon to Florida. Founded in 2010 by Joshua Simon, the Scottsdale-based company celebrates its five year anniversary this month. SimonCRE specializes in retail… Read More →

Speculative industrial development to launch in Gilbert


Joint venture partners, Conor Commercial Real Estate, a member of The McShane Companies, and Globe Corporation, have announced the acquisition of a 16-acre land parcel for the development of AZ|60 – a new two-building, 225,600 square foot industrial project. Available for-sale or lease, the speculative facilities will offer modern design and flexible configurations to meet… Read More →

ABA Project Profiles: Arizona’s Finest

Arizona Cancer Center

Arizona Builders Alliance is a partnership between the Arizona chapters of the Associated Builders & Contractors (ABC) and the Building Chapter Associated General Contractors (AGC). It represents more than 250 contractors, suppliers and professional service firms in the commercial construction industry. Here are spotlight projects its members have been working on this year. Airport I-10… Read More →

ABI funds the sale of Palm Valley Apartments for $27.2M

Palm Valley Apartments Photo

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, has announced the $27,200,000 / $103,030 Per Unit sale of the 264-unit, Palm Valley Apartments in Goodyear, AZ. Palm Valley, originally built in 1997/98, features spacious 1, 2 and 3-bedroom units with a weighted average size of approximately 893 square feet with full size washer/dryer in… Read More →

Former home of Caliente Construction sold for $101/SF


GPE Commercial Advisors, an award winning commercial real estate firm in Arizona, secured the sale of the former home of Caliente Construction, a 6,027 SF one-story flex/industrial building located at 242 South El Dorado Circle in Mesa for $610,000 ($101/SF). “Caliente Construction is so pleased with the way GPE Companies managed the sale of our… Read More →