AZRE Magazine Archives

Quarterly GDP growth slowest in 2 years

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

Real gross domestic product (GDP) expanded only 0.5 percent (seasonally adjusted annual rate) during 2016’s first quarter, according to an analysis of Bureau of Economic Analysis data released Thursday by Associated Builders and Contractors (ABC). This disappointing figure follows a 1.4 percent annualized rate of economic output expansion during the fourth quarter of 2015. Nonresidential fixed… Read More →

First Tempe Town Lake hotel opening soon

Downtown
by in AZRE Magazine | Hospitality

AC Hotels by Marriott, Marriott International’s European-inspired lifestyle brand, will open AC Hotel Phoenix Tempe/Downtown next month, which will be the brand’s first hotel in the western United States. AC Hotel Phoenix Tempe/Downtown will add style and sophistication to the vibrant city of Tempe and will be the first hotel to be located on Tempe Town Lake, a popular… Read More →

Developer announces 222K SF Phoenix industrial project

Phoenix industrial
by in AZRE Magazine | Industrial | New to Market

Liberty Property Trust Thursday announced that it will break ground on its first building this spring at Liberty Logistics Center II, a new 73-acre industrial park located at the corner of 71st Avenue and Buckeye Road in Phoenix. The 222,910 square foot distribution facility is the first of the 1.5 million square feet of multi-tenant industrial… Read More →

JLL Phoenix office appoints senior vice president

promotion

The Phoenix office of JLL hired David Rosato as senior vice president and new leader of its growing Phoenix Project & Development Services (PDS) group. The PDS group provides consultation, project management, design and construction management services for projects ranging from office to industrial to retail. In his new position, Rosato manages the Phoenix PDS team and… Read More →

How to boost curb appeal for a multifamily property

Condos

Consider these two scenarios: A: You are a tenant, and looking for a multifamily property. You visit a unit that has great interiors. However, outside, the walkway seems a bit shabby (uneven), the landscaping is not that green, the paint of the building has peeled off, masonry looks weathered and unclean, and the entrance door… Read More →

Mortenson Construction expands East Coast footprint

construction industry
by in AZRE Magazine | Construction

Mortenson Construction announced Wednesday it has expanded its operations in the Washington, D.C. area with the addition of a new office in McLean, VA. Mortenson has been serving the mission needs of the Federal Government across the United States for more than 30 years and currently has several projects underway in the Washington, D.C. area. “The expansion of our… Read More →

Sun State Builders completes Flagstaff DES

Sun State Builders
by in AZRE Magazine | Office

Sun State Builders announced the completion of the Department of Economic Security project in Flagstaff, Arizona. The single tenant office project is 50,000 square feet, three-Stories, and is beautifully incorporated into the pines of Northern Arizona. The fully occupied office space houses eight different departments for the State of Arizona, including Child Protective Services, Economic Security, Attorney… Read More →

Kingman hotel sells for $7.1M

Kingman hotel
by in AZRE Magazine | Hospitality

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Best Western Plus Kings Inn & Suites, a 100-room hotel property located in Kingman, Arizona. The asset sold for $7,100,000, according to Todd Manning, sales manager of the firm’s Las… Read More →

Popular Indian School retail center gets revitalization

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

With a proud history of revitalizing retail centers, De Rito Partners Development, Inc. is excited to announce the ongoing redevelopment and re-tenant efforts at Arcadia Fiesta, located at the southwest corner of 32nd Street and Indian School Road in Phoenix. “The new center will bring a fresh and newly upgraded shopping experience to this neighborhood.… Read More →

March construction unemployment rates improve

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by in AZRE Magazine | Construction

Construction unemployment rates improved in March with 298,000 new jobs added, according to Associated Builders and Contractors (ABC). Not seasonally adjusted (NSA) construction unemployment rates for the country and 30 states were 0.8 lower than in March 2015, marking five and a half years of consecutive monthly year-over-year rate declines. The state with the lowest construction unemployment rates in… Read More →

Bullhead City apartments sell for $8.95M

Bullhead City apartments
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix negotiated the sale of Silver Cliffs Apartment Homes at 1570 Paseo Grande in Bullhead City, Arizona, for $8.95 million or $55,590 per unit. Colliers International’s executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich represented both the seller and buyer. The seller was Thompson Corporation of Brookfield, Wisconsin. The… Read More →

Colliers negotiates $4.6M multifamily sale

Villas at Montebella in Peoria, Arizona (Photo provided by Colliers International)
by in AZRE Magazine | Multi-Family

Colliers International in greater Phoenix negotiated the sale of Villas at Montebella, a 100-unit apartment asset at 10860 N. 85th Ave. in Peoria, Arizona, for $4.6 million or $46,000 per unit. Executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich with Colliers represented both the seller and buyer. The seller was WE Villas at Montebella… Read More →

Desert Commercial Advisors adds 5 new agents

Welcome to SVN - new hires
by in AZRE Magazine | Newsmakers

Designated Broker, Perry Laufenberg continues to build SVN’s Phoenix office, Desert Commercial Advisors by adding five new brokers to the roster. “I have my sights set on growing our office by adding motivated and driven industry professional to our team of brokers,” Laufenberg said, explaining that SVN is rapidly expanding domestically and internationally. Desert Commercial… Read More →

Sundt Construction promotes Ian McDowell to regional director

construction worker
by in AZRE Magazine | Newsmakers

Sundt Construction, Inc. promoted longtime Sundt employee Ian McDowell to vice president and Southern Arizona Regional Director. A Sundt veteran of more than 20 years, McDowell previously served as Pre-construction Manager for Sundt’s Southwest Building District, overseeing its team of estimators and support personnel as well as handling the coordination of all preconstruction activities such… Read More →