Brokerage Archives

Irgens opens Portico Place II in Chandler

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Irgens officially opened Portico Place II, a 48,173 sf, two-story, Class A multi-tenant office building located at 2195 West Chandler Boulevard in Chandler, Arizona. Designed and developed to meet the growing demand for contemporary office space in the Southeast Valley, Portico Place II is the first speculative, multi-tenant office building of similar size developed in… Read More →

Clear Sky Capital purchases Gilbert

The Vintage

DTZ announced today that Clear Sky Vintage, LP (Clear Sky Capital, Marcus Kurschat – principal) purchased The Vintage, a 106-unit apartment community at 1303 West Juniper Avenue in Gilbert, AZ, for $14.25 million ($134,434 per unit). The seller was Vintage Gilbert, LLC (Matt and Sam Blank, Darryl Berger, Rustin Randal – principals). DTZ Executive Managing… Read More →

Helix acquires new Sonoran Corporate Center

Sonoran Corporate Center Building 5
April 24, 2015 by in AZRE Magazine | Brokerage

Helix, an Arizona-based commercial real estate Investment, Development, Brokerage and Management Company, recently acquired another Scottsdale commercial property, Sonoran Corporate Center Building 5, for $3.93 million. Located at Princess and Hartford Drive, in Scottsdale, Sonoran Corporate Center includes a 21,064 square foot building. Helix will be converting much of the building to medical and corporate… Read More →

Black Rock RV Resort sells for nearly $4M

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The sale of the Black Rock RV Village located at 46751 E. Highway 60 in Brenda, AZ (near Quartzsite) sold April 2, 2015 for $3,925,000 to a California private investment firm.  John Grant and John Sheedy with Park Brokerage Inc. represented the buyer and the seller on the transaction. Black Rock is a winter, snowbird RV… Read More →

State Farm building sells for more than $22.9M

Four Gateway

CBRE has recently completed the sale of Gateway Four, a 137,069-square-foot, single-tenant office building, located at 444 N. 44th Street in Phoenix. The property is fully leased to State Farm Insurance and commanded a sale price of more than $22.9 million. Tom Adelson and Jim Fijan with CBRE’s Phoenix office negotiated the sale. The buyer… Read More →

Big Deals: Multi-family/Sales, March 2015-April 2015

Pinnacle-Exterior2
April 22, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →

Medtail trends for neighborhood shopping centers

ChandlerPlaza

The Metropolitan Phoenix retail market continues its recovery, as noted in a recent report from CBRE Phoenix Research. With vacancy under 10 percent for the first time in seven years, demand for space is beginning to reflect that of pre-recession levels. However, while a sense of normalcy is slowly returning to the market, real estate… Read More →

$165M for LPC-Phoenix in 60 days

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Office investment and management expert Lincoln Property Company (LPC) and funds managed by Oaktree Capital Management, L.P. (Oaktree) have completed the $58 million purchase of Biltmore Commerce Center, a Class A, institutional-quality office building located in the heart of Phoenix’s coveted Camelback Corridor. The acquisition represents LPC’s second transaction in a partnership with Oaktree that has generated… Read More →

HSL acquires 44 Monroe in downtown Phoenix

Multi-Family Market - AZRE Magazine July/August 2011

HSL 44 Monroe, LLC, purchased a $50.65 million controlling interest in 44 Monroe, Arizona’s tallest luxury residential tower. Located at 44 Monroe on the northeast corner of 1st Avenue and E. Monroe Street, the property is located in the heart of the downtown Phoenix financial district. HSL purchased 184 condominium units in the 198-unit tower.… Read More →

Sale of Starbucks at SWC of Scottsdale & McKellips negotiated

Final Front View
April 20, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Andy Kroot with Velocity Retail Group, LLC sold the single tenant Starbucks store located at the SWC of Scottsdale and McKellips – 1926 North Scottsdale Rd, Tempe AZ. Andy Kroot, Principal of Velocity Retail Group represented the Seller in the transaction and Jon Stansbury of DTZ represented the Buyer. The ownership – SWC Scottsdale & McKellips,… Read More →

Phoenix office market gains momentum

The Esplanade

Source: Lee & Associates Q1 Report As the overall economy continues improving, the Phoenix office sector is experiencing strong momentum in a variety of different measurements. Office construction, sales velocity and rents are all on the rise; however leasing activity remains muted. The Valley is flooded with tenants in the market touring buildings and assessing… Read More →

Phoenix industrial markets continue to break ground

Architectural Photography by Michael Baxter, Baxter Imaging LLC

Source: Lee & Associates Q1 Report The Phoenix industrial market continued to improve in the first quarter of the year, posting its lowest percentage vacancy (11.8%) since Q1 2008. In that 7-year time period, the Valley’s industrial inventory gained over 32 million SF of warehouse/distribution, manufacturing and flex space. The most recent seven quarters have… Read More →

Big Deals: Land/Sales, March 2015- April 2015

The Wells Mixed Use Site, Maricopa
April 18, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →

Big Deals: Office/Sales, March 2015-April 2015

Fountainhead Corporate Center, Tempe
April 17, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →