AZRE Magazine Archives

Lakeview at Superstition Springs sells for $66.6M

Lakeview at SSprings v2, CBRE WEB

CBRE has completed the sale of Lakeview at Superstition Springs, a 676-unit apartment complex located at 1849 S. Power Rd. in Mesa, Ariz. The multifamily asset sold for $66.6 million. The property was 95 percent leased at time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office represented the… Read More →

CBRE leases 67KSF to Arizona’s newly created CSFS agency

West 101 Corporate Center, CBRE, WEB

CBRE has completed two office leases totaling 67,335 square feet in Metropolitan Phoenix. The leases are representative of new office requirements by Arizona for the newly created Child Safety and Family Services agency (CSFS). A 26,265-square-foot, full-floor space in West 101 Corporate Center, which is owned by Los Angeles, Calif.-based Regent Properties and located at… Read More →

OSA Janitorial Service becomes licensed dealer of Ceiling Pro International

OSA Janitorial Service of Phoenix recently was named a licensed dealer of Ceiling Pro International (CPI), a leader in the commercial ceiling cleaning industry. Based in Eden Prairie, MN, CPI was founded nearly 25 years ago and offers 18 bio-degradable, proprietary products to clean and sanitize ceilings. OSA Janitorial Service has been owned by Brad… Read More →

Noble, Orcutt named market leaders for Cushman & Wakefield

Jerry Noble and Jackie Orcutt

Cushman & Wakefield Inc. has named Jerry Noble and Jackie Orcutt as Market Leaders of its Arizona operations in Phoenix. Noble and Orcutt have previously served as leading commercial real estate professionals for C&W in Phoenix. “We could not be more pleased with our decision to entrust our Phoenix operations to Jerry and Jackie,” says… Read More →

Calif. investment firm takes Chandler Iridium facility for $12.7M

1800 S. Price, Lee Associates, WEB

A 69,429 SF fl ex manufacturing facility and an adjacent 2.97 AC parcel at 1800 S. Price Rd. in Chandler has been sold for $12.65M. The building is fully-leased to Iridium Communications with an estimated 10 years remaining on their lease. Cohen Asset Management, Inc., a California-based private real estate investment fi rm purchased the… Read More →

Valley retail portfolio sells for $150M

Target-Village Center, CBRE, WEB

CBRE has completed the sale of the Phillips-Edison Fund IV Portfolio. The nine-property retail portfolio sold for $150 million and totals over 1.35 million square feet. Jesse Goldsmith and Steve Julius of CBRE in Phoenix, Ariz., along with Christian Williams and Gleb Lvovich of CBRE’s National Retail Investment Group, negotiated the sale between the seller,… Read More →

Sand Capital acquires Four Peaks Plaza

Four peaks plaza

Sand Capital, a privately-held real estate investment company, located in Scottsdale, Ariz., has just closed on 140,390 square foot Target-anchored power center in Fountain Hills. Sand Capital is the financial arm and sister company to Sandor Development Company, which was founded in 1963 in Indianapolis, Indiana. Today, Sandor owns and manages over 8 million square… Read More →

PB Bell, Davis Enterprises to redevelop ‘Psycho’ building

Circle West - Barrister Building - West Elevation 08 25 14

P.B. Bell Companies, a leader in multi-family housing and commercial real estate development and management, and Davis Enterprises, an investment and development company serving Arizona’s retail and office sectors for six decades, have been selected by the City of Phoenix to redevelop the historic Barrister Place building in downtown Phoenix. City officials chose the P.B. Bell… Read More →

San Francisco investor buys St. Luke’s Medical building for $8.45M

555North18thStreet, Cassidy Turley, WEB

Cassidy Turley announced the successful sale of a ±49,816 square foot medical office building at 555 North 18th Street in Phoenix’s downtown submarket. San Francisco-based Stockbridge Funds purchased the St. Luke’s Medical property for $8.45 million ($169.62/psf) from Chicago-based Heitman Real Estate Investment Management. Executive Managing Director Eric Wichterman and Senior Vice President Mike Coover… Read More →

Villa Serena apartment complex sells for $6.42M

Villa Serena Main Pic, Colliers, WEB
August 27, 2014 by in AZRE Magazine | Blogs | Brokerage | In The Spotlight

Colliers International in Greater Phoenix recently completed the sale of Villa Serena, a 137-unit Class B apartment complex, for $6.42 million, or $46,861 per unit. Janet LePage of North Vancouver, BC, purchased the complex, located at 4221 W. Dunlap Avenue, from Bligh Group, LLC, of Rancho Santa Fe, Calif. Bill Hahn, Jeffrey Sherman and Trevor… Read More →

Cleart Title ranks on Inc. 500 | 5000 List

August 27, 2014 by in AZRE Magazine | Blogs | Finance & RE Law

Clear Title Agency of Arizona, a commercial and residential title and escrow service provider, is ranked No. 671 on the eighth annual Inc. 500|5000 List, an exclusive ranking of the nation’s fastest-growing private companies. It is the second straight year Clear Title has earned the distinction, moving up more than 300 spots from last year’s… Read More →

Kitchell finishes 171KSF patient tower at Chandler Regional

Chandler Regional Hospital

Kitchell recently completed a 171,000-square-foot expansion at Dignity Health Chandler Regional Medical Center, adding 96 beds and bringing the hospital’s bed count to 339, while adding and expanding comprehensive services. “Chandler Regional is truly a community hospital with more than 50 years of history in the East Valley,” said Tim Bricker, president and CEO of… Read More →

Penco Properties buys Harris Park Professional Plaza

Courtesy of CPI
August 26, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of Harris Park Professional Plaza.  Tyson Breinholt and Shane McCormick of CPI’s Tempe Office Group represented both the buyer and seller in this transaction. The 27,864 SF, Class B office building is located at 1550 E McKellips Road in Mesa, Arizona… Read More →

California company buys Sonoran Vista Apartments complex

Sonoran Vista Apartments
August 26, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

CBRE has completed the sale of the Sonoran Vista apartment community, a 264-unit apartment complex located at 9340 E. Redfield Rd. in Scottsdale, Ariz. The multifamily asset, which is situated in the heart of the north Scottsdale submarket was 95 percent leased at time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch… Read More →