Brokerage Archives

Propak Logistics leases 50KSF in Phoenix

Estrella BP, CBRE, WEB
December 18, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has completed a 48,735-square-foot lease at Estrella Business Park located at 1010 S. 65th Avenue in Phoenix. Propak Logistics, Inc. has leased the space marking the companies first location in metropolitan Phoenix and bringing the property to 100 percent leased. Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s Phoenix office, along with Bob… Read More →

Historic Welnick Bros. market slated for infill project

Welnick Skyline Rendering, WEB

CBRE has completed the sale of Welnick Bros. Marketplace located at 345 W. Van Buren St. in downtown Phoenix. The property, which has been earmarked for a future, urban-infill retail project, commanded a sale price of $930,000. Christoper Ackel and Pat Horan with CBRE’s Phoenix office negotiated the transaction on behalf of both buyer and… Read More →

BH Properties buys Plaza at Squaw Peak for $25M

Plaza SQ_PHOTO, WEB

On behalf of their client, IX CW Plaza Squaw Peak, LP, (an affiliate of Starwood Capital Group), Capital Asset Management announced today the successful sale of The Plaza at Squaw Peak, a 428,044-square-foot class-B office building, to BH Properties, a Los Angeles commercial real estate investment company. Located on 16th Street and Morten Avenue in… Read More →

Shops at Dynamite & Tatum sells for $1.9M

DynamiteTatum, WEB
December 16, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has completed the sale of the Shops at Dynamite & Tatum, a retail strip center located at 28255 N Tatum Blvd, in Cave Creek, Ariz. The property commanded a sale price of $1.9 million. Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office negotiated the transaction on behalf the seller, Bainbridge Island, Wash.-based Pacific… Read More →

Young’s Market Company leases 250KSF in Phoenix

Youngs Market, WEB
December 16, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cassidy Turley announced Tuesday that Young’s Market Company of Arizona leased 248,900 square feet at 402 S. 54th Pl. in Phoenix. Young’s Market Company is one of the nation’s largest distributors of wines and spirits with operations in California, Hawaii, Arizona, Oregon, Washington, Alaska, Idaho, Utah, Montana and Wyoming. Cassidy Turley’s Executive Managing Directors Andy… Read More →

Op-Ed: Read this before locking out a commercial tenant

123rf.com, tatiana53

Most commercial landlords and property managers are aware that, in Arizona, if a commercial property tenant neglects or refuses to pay rent and is in arrears for more than five days, or if a tenant violates another provision of the lease, under certain conditions and circumstances, Arizona law allows the landlord the option to reenter… Read More →

Cassidy Turley closed $71M in multifamily deals on Thursday

Broadstone Twin Fields
December 11, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cassidy Turley announced on Thursday the sale of Broadstone Twin Fields, a 314-unit apartment community located at 2505 E. Williams Field Road in Gilbert, Ariz., and  The Club at Coldwater Springs, a 251-unit apartment community located at 105 North Links Drive in Avondale, Ariz. Broadstone at Twin Fields, LP (Alliance Residential), represented by Cassidy Turley… Read More →

AutoZone, Popeyes move into Pavilions at Talking Stick

Talking Stick Pavilions
December 11, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Pavilions at Talking Stick adds AutoZone and Popeyes The Pavilions at Talking Stick added two new tenants to its expanding roster with the completion of two ground leases. AutoZone will add a new, approximately 6,200-square-foot store, while Popeyes Louisiana Kitchen plans on adding a 3,000-square-foot restaurant. Paul Serafin represented the landlord in completing the AutoZone… Read More →

TriWest Healthcare expands Phoenix HQ

TriWest-MRP, WEB
December 10, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

TriWest Healthcare Alliance has leased the entire 119,131-square-foot office building at 16010 N. 28th Ave. to accommodate its expansion for its recently awarded contract with the Department of Veterans Affairs (VA.). The company, which had previously occupied a portion of the building as its corporate headquarters, has committed to extend its lease and expand into… Read More →

Waterford at Superstition Springs sells for $33M

Waterford at Superstition Springs 31,WEB
December 10, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Institutional Property Advisors (IPA), a division of Marcus & Millichap Inc. specializing in serving institutional and major private real estate investors, announced the sale of Waterford at Superstition Springs, a 280-unit multifamily community in Mesa, Ariz.  The commercial real estate sale netted $33,000,000 or $117,850 per unit. IPA senior director Steve Gebing and Marcus &… Read More →

ViaWest Group expands business with TWR Company

123RF.com, Copyright: valeriylebedev

ViaWest Group announced the expansion of its company through an affiliation with TWR Company, which is operated by Tom Richards. ViaWest has been one of the fastest growing real estate investment companies in the Valley over the last few years with more than $200M of acquisitions. TWR Company is a boutique, commercial real estate, investment… Read More →

Desert Ridge Corporate Center sells for $58.6M

Desert Ridge Corporate Center, CBRE

CBRE has completed the sale of Desert Ridge Corporate Center (DRCC) located at 20860, 20830 and 20910 N. Tatum Blvd. in Phoenix. The institutional grade office and retail development is located in the Desert Ridge master-planned community. The asset totals 293,161 square feet and commanded a sale price of $58.6 million. The property was 75… Read More →

Moreland Auto Group buys 22 acres in Avondale

Courtesy of Cassidy Turley
December 4, 2014 by in AZRE Magazine | Brokerage | Featured | Investment

Cassidy Turley* announced the sale of 22.6 acres of commercial land at the northwest corner of Avondale Boulevard and McDowell Road in Avondale, Ariz., for $2.2 million ($2.24 per square foot). Doug Moreland of Colorado-based Moreland Auto Group purchased the property under Moreland Arizona Properties, LLC from Rialto Capital Management LLC. Cassidy Turley Vice Presidents… Read More →

Bob Parsons affiliate buys Cornerstone shopping center

Cornerstone 1, Orion, WEB

ORION Investment Real Estate announced Tuesday the sale of The Cornerstone shopping center in Tempe, Ariz., located on the NEC of Rural Road and University Drive adjacent to Arizona State University.  The 117,351-square-foot center sold for $28,556,152 to Cornerstone Retail, L.L.C., a commercial real estate entity affiliated with YAM Properties which was founded by Valley… Read More →