AZRE Magazine Archives

Construction unemployment rates improve in 48 states

108696481
by in AZRE Magazine | Construction

August not seasonally adjusted (NSA) construction unemployment rates improved in 48 states and the nation on a year-over-year basis, according to analysis released today by Associated Builders and Contractors (ABC). The national NSA construction unemployment rate of 5.1 percent was 1 percent lower than a year ago, according to data from the Bureau of Labor… Read More →

North Scottsdale shopping center sells for $72.5M

Sonora Village
by in AZRE Magazine | Retail

The Fincham Dempsey Team at Lee & Associates brokered the sale of the Sonora Village retail shopping center for $72,500,000. The property is located at the southwest corner of Frank Lloyd Wright Boulevard and Loop 101 in North Scottsdale. Sonora Village is a Class A regional power and entertainment center built in 1986. The sale consists of 269,369… Read More →

JLL sells first Downtown Phoenix apartments of new cycle

Proxy 333 totals 69,335 square feet and 118 units at 333 E. McKinley St., between Third and Fourth Streets in Downtown Phoenix.
by in AZRE Magazine | Brokerage | Multi-Family | Newsmakers

The first urban apartment project to be constructed and traded in Downtown Phoenix’s post-recession real estate upswing has sold this week in a $21.8 million deal brokered by the Phoenix office of JLL. Named Proxy 333, the project totals 118 highly amenitized urban multifamily units located in the heart of downtown’s Evans-Churchill neighborhood. The Proxy 333… Read More →

CBRE will relocate its Phoenix office

CBRE
by in AZRE Magazine

CBRE Group, Inc. announced plans to move its Phoenix office from its current location in Tower III to Tower IV of the iconic Esplanade complex in the Camelback Corridor. The new office is part of CBRE’s global “Workplace360” initiative, the company’s leading-edge approach to workplace strategy designed to promote flexibility, mobility and productivity through technology-enabled,… Read More →

Phoenix industrial facility sells for $2.55M

industrial facility
by in AZRE Magazine | Industrial

Arizona-based Commercial Properties, Inc. (CPI) negotiated the sale of an industrial building at 6902 W. Hadley St. in Phoenix. Lee & Associates represented the tenant, Sun Country Trailers, who exercised their lease purchase option and purchased the property for $2.55 million. The building is approximately 51,250 square feet, and was originally built in 1996 and is… Read More →

Lee & Associates hires retail leasing and investment principal

ABI Multifamily
by in AZRE Magazine | Newsmakers

Lee & Associates Arizona hired Sean M. Bishop, CCIM as principal. Bishop brings extensive experience in retail investment and tenant and landlord representation. Since 2008, Bishop was a principal and designated broker at Middlefork Commercial, LLC, a Phoenix-based commercial real estate firm that provided leasing, investment sales, tenant representation and property management services. “We are pleased to have… Read More →

Signs of life: medical office leasing gains momentum

medical office
by in AZRE Magazine | Brokerage | Newsmakers

Plaza Companies’ Brokerage Services Team secured six significant new leases as part of increasing momentum in the medical office real estate sector. The six leases exceed 39,000 square feet, ranging from 3,000 square feet to 12,131 square feet and boasting a total value of more than $4 million. Sharon Harper, president and CEO of Plaza Companies, says the six transactions were representative of an… Read More →

WFG National Title moves to Camelback Corridor

Totaling 104,618 square feet, the 2777 building sits at the southwest corner of 28th Street and Camelback Road, where WFG National Title Insurance is opening its new offices. (Photo courtesy of JLL Phoenix)
by in AZRE Magazine | Brokerage

A prime location in the heart of the Camelback Corridor attracted WFG National Title Insurance Company (WFG) to a new lease at 2777 E. Camelback Rd. WFG will relocate from 1420 E. Missouri Ave. in Phoenix into 6,058 square feet on the ground floor at the 2777 building in November. It joins current building tenants… Read More →

Apex Circuit Design creates tracks for Pinal County motorsports complex

Danrick Builders
by in AZRE Magazine

Attesa, the 2,360-acre recreational motorsports destination being developed by Danrick Builders near Casa Grande, Arizona will feature two world-class road racing courses designed by the best circuit design company in the industry. Apex Circuit Design Ltd. of Buckinghamshire, England is designing two separate 2.8-mile road courses plus a karting track, driver experience center and a… Read More →

People & Projects to Know: Brokers

People & Projects to Know
by in AZRE Magazine | Brokerage

Anthony Lydon Managing director JLL  Commercial real estate is a family business for Anthony Lydon, a 30-year veteran in the supply chain industry. Today, Lydon, who goes by Tony, works as the managing director at JLL. He is proud of his accomplishments, but says he is most proud to see his family follow in his footsteps.… Read More →

East Valley development shows results of market health

Tempe
by in AZRE Magazine | Construction

Evidence of a healthy commercial real estate market can be seen throughout East Valley cities where economic development directors expect continued activity as a result of recent success stories and other big plans in the works. The cities of Chandler, Gilbert, Mesa, Scottsdale and Tempe share a common goal to progress their communities through economic… Read More →

AAED will examine impact of human capital on housing

The Home Furnishing & Design Show will debut March 28-29, 2015, at WestWorld of Scottsdale.
by in AZRE Magazine | Events

The Arizona Association for Economic Development’s (AAED) October luncheon will feature a panel discussion on Human Capital Affecting Housing Trends. It will be held on Oct. 11 from 11:30 a.m. to 1:15 p.m. at 2901 N. Seventh St. in Phoenix. The discussion will include views from companies about how their strategy on the access to… Read More →

Garden-Style Apartments in Phoenix Sell for $21M

Maya Linda, a 360-unit apartment community, located at 8222 N. 19th Avenue in Phoenix was sold today for $21 million.
by in AZRE Magazine | Brokerage | Newsmakers

Cushman & Wakefield announced today the $21 million sale of Maya Linda, a 360-unit apartment community located at 8222 N. 19th Ave. in Phoenix, to Phoenix-based Pacific Real Estate Partners. Jim Crews and Brett Polachek from the Cushman & Wakefield Phoenix office represented the owner, MG Properties of San Diego, Calif. “This property received significant buyer interest due to its… Read More →

HFF arranges $210M in financing across Arizona, other markets

HFF
by in AZRE Magazine | Finance & RE Law

Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a total of $210 million in first lien financing for Westwood Financial Corp comprising 10 multi-tenant retail centers totaling 973,985 square feet in Arizona, California, Kansas, North Carolina and Texas markets. HFF worked on behalf of the borrower, Westwood Financial Corp., in advising them… Read More →