Brokerage Archives

Cox Communications building to be redeveloped as apartments

Cox building

ORION Investment Real Estate announced Thursday night the closing of a single-story office/warehouse building, located at 160 S. MacDonald in Mesa, Arizona for $750,000 to Cardinal Capital Management, Inc. “The buyer plans to redevelop the site into an apartment community and wanted to be close to the future light rail stations,” says Nick Miner, Vice… Read More →

TradeCor purchases SAARS building for $2.1M

SAARS, WEB

Cassidy Turley announced the $2.1 million ($247.06/psf) sale of SAARS Building, a Class-B office building at 4221 N. Scottsdale Rd. in the Scottsdale, Ariz., submarket. Phoenix-based 4221 Scottsdale LLC / TradeCor LLC purchased the property from Scottsdale-based Scottsdale Area Association of Realtors (SAARS). Cassidy Turley Managing Director Mark Bramlett, Executive Managing Director Eric Wichterman and… Read More →

The Land Advisors Organization reports recent deals

CANYONS AT WHETSTONE | Benson, Arizona Offering: 795.69 acres Location: East side of Highway 90, south of Interstate 10 in Benson, Cochise County, Arizona Sales Price: not disclosed Seller: National Bank of Arizona Buyer: El Dorado Benson, LLC Agents: Greg Vogel, Will White, Waseem Hamadeh and John Carroll 801 NORTH ARIZONA AVENUE | Chandler, Arizona… Read More →

Motorcycle Mechanics Institute building sells for $6M in Deer Valley

MMIBuildingPR, WEB
July 23, 2014 by in AZRE Magazine | Brokerage | Featured

CBRE has completed the sale of the Motorcycle Mechanics Institute (MMI) Building located at 2932 W. Deer Valley Rd. in Phoenix. The 41,739-square-foot technical training facility commanded a sale price of $5.975 million. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, 2932 DVR, LLC. The buyer, Hyperion Fund, LP, was represented… Read More →

Alliance Residential promotes leaders to President, COO and CFO roles

Jay Hiemenz, Alliance Residential

Alliance Residential, a national multifamily acquisitions, development, construction and management company, announced the promotions of V. Jay Hiemenz to President and Chief Operating Officer, and Bob Weston to Chief Financial Officer. These leaders will oversee operational and financing efforts respectively, of the company’s approximate $2 billion production pipeline and 70,000 units under management. “Alliance is… Read More →

Online advertising co-op signs lease at SkySong 3

SkySong III

An advertising innovator changing the way companies advertise online will set up shop at SkySong 3 early next year. The company, adhesive.co, is relocating from east Indian School Road and will begin its five-year lease at SkySong on January 1, 2015. The layout of the space will be in line with the online ad company’s philosophy of a creative and collaborative environment.… Read More →

Sonoran Spine to open Tempe office in August

Spine, WEB
July 21, 2014 by in AZRE Magazine | Brokerage

Sonoran Spine, Arizona’s leading spine and back specialists, are moving to a new office in Tempe in August 2014. Located at 1255 West Rio Salado Parkway, Suite 107, this marks the fifth location for Sonoran Spine in Metro Phoenix with a sixth office operating in Show Low, Ariz. To celebrate the grand opening, Sonoran Spine… Read More →

Arizona Urology Specialists leases 12,034 SF at Country Club Manor

CoutntryClubManor, WEB
July 21, 2014 by in AZRE Magazine | Brokerage

Cassidy Turley announced that it completed a 10-year lease of 12,034 square feet for locally-based Arizona Urology Specialists PLLC at Country Club Manor, 1221-1313 East Osborn Road in Phoenix. Senior Vice President Gordon Raguse and Vice President Chris Jantz of Cassidy Turley’s Office Group represented landlord Hyperion Fund LP, while David Heiple of Heiple Travers… Read More →

Sossaman Development plans to build retail project in Mesa

Shops-at-Costco-SperryVanNess, WEB

Trenton McCullough and Shari A. Tucker-Gasser, Retail Investment Advisors in the Phoenix Sperry Van Ness office, represented the buyer, Sossaman Development LLC, in the $2,200,000 purchase of 4.95 acres of commercial land zoned LC, formerly known as C-2, in the City of Mesa. Located just north of Costco on the hard corner of Sossaman Road… Read More →

Triple-net leased Fresenius Medical Care Building sells for $1.75M

Fresenius Medical Care Building, Colliers, WEB

Colliers International in Greater Phoenix has recently completed the sale of the triple net leased Fresenius Medical Care Building in Chandler for $1.725 million, or $232 a square foot. Prescott-based Cowboy Town, LLC, purchased the building, located at 912 W. Chandler Blvd., from 912 A&D Chandler, LLC, of La Habra, Calif. This facility, used as… Read More →

Culinary Dropout concept comes to Tempe this fall

Courtesy of Fox Concept Restaurants

Fox Restaurant Concepts (FRC) and development partner, Brian Frakes, plan to open the first East Valley Culinary Dropout location in October 2014 on First Avenue and Farmer Avenue in Tempe, Ariz. Known for their innovative restaurant concepts, FRC is planning their largest project to date with this Culinary Dropout location at Farmer Arts District at… Read More →

Cresa executes disposition and new lease for 3M Company

Tenant representation firm Cresa announced that it had executed the disposition of a 270,890 SF building and 42 acres of land for $31.91 million in Ontario, Calif., for 3M Company. As part of the transaction, Cresa Phoenix negotiated a 10-year lease on a 454,877 SF distribution facility to be constructed on a vacant parcel nearby.… Read More →

NAIOP: Commercial real estate strongest since economic recovery

Commercial Real Estate Market - AZRE Magazine March/April 2011

The commercial real estate development industry grew at the strongest pace since the economic recovery began in 2011, according to an annual report on the state of the industry released today by the NAIOP Research Foundation.  The report, entitled “The Economic Impacts of Commercial Real Estate,” determined that the economic impact realized by the development… Read More →

California investor purchases Westwood Business Park for $7.4M

WestoodBusinessCenter, WEB

Cassidy Turley announced the $7.4 million ($80.88/psf) sale of Westwood Business Park, a Class B office development at 2222-2228 West Northern Avenue in the Northwest Phoenix Submarket. California-based LBK Trust III purchased the property from Nebraska-based MJA Holdings, LLC. Cassidy Turley Executive Managing Director Eric Wichterman and Senior Vice President Mike Coover negotiated the transaction… Read More →