Brokerage Archives

Offroad truck design firm leases 62KSF in Mesa

March 26, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

A Mesa-based offroad truck and SUV design and parts manufacturing company has signed for a 3-plus year lease at 308 S. Extension Rd. in Mesa. The property is comprised of a 44,004 SF and a 22,706 SF building. Matt McDougall and Matt Fredrick, Principals with Lee & Associates represented both sides of the transaction. The… Read More →

Phoenix firm buys El Paso industrial portfolio

CBRE announced the sale of a four-building, 245,745-square-foot industrial portfolio in El Paso, Texas, on behalf of New York-based Sullivan Crosby Trust. Phoenix, Arizona-based ViaWest Group purchased the portfolio in an off-market transaction for an undisclosed price. Christian Perez Giese, William Caparis, Anthony Mash and Arturo De la Mora, with CBRE’s El Paso office, represented the seller. The buildings are… Read More →

CBRE Tuscon releases recent transaction report

March 25, 2015 by in AZRE Magazine | Brokerage

CBRE’s Tucson office has released the following recent transactions: Leases Seoul Kitchen Corporation has renewed their 1,360 sq. ft. lease at 4951 E. Grant Rd. from Crossroads East. The tenant was not represented in the transaction. The landlord was represented by Nancy McClure and Michael Laatsch with, CBRE’s Tucson office. Job Aire Group has leased… Read More →

Daum negotiates $1M sale of Phoenix office building

March 24, 2015 by in AZRE Magazine | Brokerage

Daum Commercial Real Estate Services has negotiated the $1 million sale of a 5,600-square-foot office building located at 775 E. Covey Lane in Phoenix. Carl Johnson with Daum Phoenix represented the seller while Menlo Group represented the buyer in the transaction. The seller of the Phoenix office building was Meco Real Estate Holdings, LLC of Windsor, Calif. ORP,… Read More →

Freeway Village sells for $5.75M

March 23, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate announced the closing of the Freeway Village located at 1455 South Stapley Drive in Mesa, Arizona for $5,750,000 ($63/SF) to a partnership between Schneider Family I, LLC based in Beverly Hills and the Weil Ernst Trust based in Mesa. The Seller was Freeway Village Shopping Center, Inc. based in Boulder, CO. The… Read More →

Airport I-10 announces three national tenant leases

Oblique & Renderings of Airport I-10-1

Just as Airport I-10’s 600KSF Phase I approaches completion, Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have announced the signing of three major, national tenant leases that bring one of the largest speculative office projects in Phoenix history to more than 35 percent pre-leased. The new tenants at Airport I-10 include: •… Read More →

Class-A office space in Scottsdale sold to private investment firm

March 22, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Laurus Corporation, a U.S.-based private real estate investment and development firm, acquired Canyon Village, a 93,890-square-foot, four-building, institutional quality office park, occupying approximately 5.6 acres in the heart of DC Ranch, a mixed-use development, in North Scottsdale, Arizona. The building is approximately five minutes from the Loop 101 Pima Freeway, the primary Scottsdale access for… Read More →

Security Title Plaza sells for $18M

DTZ, a global leader in commercial real estate services, announced that Investors Warranty of America, Inc., a subsidiary of AEGON USA, has sold Security Title Plaza, 3636 N. Central Avenue in Phoenix. Heckethorn Towers, LLC, a unit of Reven Capital of La Jolla, CA, purchased the 219,032 square foot, 12-story office tower for $18 million.… Read More →

Papago Arroyo sells for $40.85M

Lee & Associates Arizona announced the three-office building leasehold sale of Papago Arroyo, 1255, 1275 and 1295 E. Washington St., Phoenix for $40,850,000. Combined, the buildings total 279,503 SF which calculates to $146.15 per SF. The cap rate was reported to be 7% based on first year NOI performance.   Lee & Associates’ Coppola-Cheney Group… Read More →

Fenway Properties purchases former bank and data center for $1.33M

March 19, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Newmark Grubb Knight Frank (NGKF), global full-service commercial real estate advisor, announced the sale of 3615 North 27th Avenue in Phoenix, AZ to Fenway Properties. The real estate investment company purchased the two-building, 120,000-square-foot property from Litmath LLC for $1,330,000, or $11.00 per square foot. San Diego-based Fenway Properties is an active area property owner with… Read More →

Autoline Industries announces site acquisition for new manufacturing facility

Autoline Industries, LLC, a manufacturer and distributor of high performance aftermarket automotive parts, announced plans for a new 70,000 square foot manufacturing facility and corporate headquarters at the northeast corner of Broadway Road and Country Club Drive in Mesa, Arizona.  “After carefully evaluating a number of prospective locations, Autoline Industries elected to purchase the site… Read More →

Colliers International completes $3.3M sale of church in Scottsdale

March 19, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Colliers International in Greater Phoenix recently completed the sale of the Impact Church building in North Scottsdale for $3.3 million or $143 per square foot. Scottsdale Training Facility Partners LLC of Scottsdale purchased the building, located at 15650 North 83rd Way, from Impact Church of Scottsdale. Greg Hopley, executive vice president with Colliers International, represented… Read More →

Apartment community in Phoenix sells for $525,000

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, represented the Seller in the sale of McLellan Apartments, an 8-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $525,000 equates to $65,625 per unit or $93.21 per square foot. Jack A. Cardinal, a Managing Director… Read More →

GPE closes deal on Scottsdale medical office building

March 18, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

GPE Commercial Advisors, one of the oldest privately owned commercial real estate firms in Arizona, secured the sale of a 5,274 SF one-story medical office building located at 7700 East Indian School Road in Scottsdale. The building sold for $975,000 ($185/SF). Executive Vice President, Julie A. Johnson, CCIM, and Senior Vice President, Alexandra Loye worked… Read More →