Brokerage Archives

Tuft & Needle relocates to Phoenix’s warehouse district

605 E. Grant, Tuft and Needle, CushWake, WEB

Tuft & Needle, a startup mattress company, is relocating its headquarters to the Levine Machine Building in Downtown Phoenix’s warehouse district. Cushman & Wakefield of Arizona, Inc. negotiated a 5-year lease as Tuft & Needle relocates from Tempe to a 5,100-square foot facility at 605 E. Grant St. Tuft & Needle designs and manufactures a… Read More →

AFI-USA sells downtown Phoenix development site for $12.75M

Downtown_Phoenix_Aerial_Sketch-on

Real estate developer Africa-Israel USA (AFI-USA) announces the sale of a five-acre downtown Phoenix development site at the corner of Central Avenue and McDowell Road for $12.75 million. AFI-USA had owned the property since 2004. Lennar Multifamily Communities is the purchaser and plans to transform what is currently an empty lot into a 288,000-square-foot luxury residential… Read More →

Hartford Place in Scottsdale sells for $7M

Hartford Place, WEB

Cassidy Turley announced the $7 million ($104.79/psf) sale of Hartford Place located at 8388 E. Hartford Drive in Scottsdale, Ariz. Locally based Hartford Exchange, LLC and Reems & Greenway LLC purchased the ±66,800 square foot property from Newport Beach, CA-based Buchanan Street Partners (Newport Beach, CA). Cassidy Turley Executive Managing Director Eric Wichterman and Senior Vice… Read More →

Krispy Kreme signs lease in Avondale, along I-10

Krispy Kreme, WEB
October 21, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Krispy Kreme Doughnuts has leased the former Long John Silver’s / A&W building at the SEC of I-10 and Dysart in Avondale, Ariz. Andy Kroot of Velocity Retail Group, LLC represented the Tenant – Hot Glazed Enchantment, Inc., a New Mexico corporation and Jennifer Eggert of ZELL Commercial Real Estate Services represented the landlord. The building was +/-2,741 SF… Read More →

Michael Lewis Co. buys parcel in Goodyear Gateway South

Goodyear Gateway South, EJM Development

Goodyear Gateway South, the 221-acre industrial zoned park being developed by EJM Development Co. just north of the Phoenix Goodyear Airport, has announced its first user. Michael Lewis Co. (MLCo) has purchased a 30-acre parcel for development. The financial terms of the transaction were not disclosed. Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s… Read More →

LGI Homes Arizona buys 151 lots in Buckeye

Sundance Lots_LGI Homes, Cassidy Turley, WEB

Cassidy Turley announced the sale of 40 finished and 111 platted lots in the master-planned subdivision of Sundance, located in Buckeye, AZ. LGI Homes Arizona, LLC (NASDAQ: LGIH) purchased the lots for $3.9 million. The seller was Kaufman Capital Sundance, LLC. Cassidy Turley Vice Presidents Brian Rosella and Will French negotiated the transaction on behalf… Read More →

Historic apartment complex in Phoenix sells for $1.2M

Palmcroft Pic, WEB
October 20, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate announced the sale of Palmcroft Apartments, a 12-unit apartment complex in Phoenix, for $1,200,000.  The property was built in 1940 and was 90% occupied at the time of sale.  It consists of three studios, eight one-bedroom and one two-bedroom units and is located in the Encanto Palmcroft Historic District. The Arizona-based sellers have owned… Read More →

CBRE to market office space at Chandler Viridian

Chandler Viridian, CBRE

CBRE has been awarded the marketing assignment for the ±240,000 SF office portion of Chandler Viridian, the $150 million, mixed-used project to be developed by Hines. The multi-faceted development project will be located on the former Elevation Chandler site near Chandler Fashion Center. Construction on the project is slated to begin 1Q 2015 and will… Read More →

Office Mate: The creative endgame for functional obsolescence

The C3 office building, in Los Angeles, was re-imagined by Gensler to include more "front doors" for suites, which are depicted by the colorful stairways on the building's exterior.

Forget the corner office. These days, it’s about the coffee shop around the corner, the food trucks outside the lobby, the light rail that passes an office building every 15 minutes. The work place is all about the worker. Employee and entrepreneur are synonymous. Human resource departments are working in concert with building owners, managers,… Read More →

ZELL reports recent retail transactions

Scottsdale Seville, La Petite
October 17, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ZELL Commercial Real Estate Services, Inc., a full service shopping center management and leasing firm based in Phoenix, Arizona announces the following retail lease transactions: HERBAL NAILS & SPA GOING TO MARKETPLACE AT LINCOLN IN SCOTTSDALE, ARIZONA  Herbal Nails & Spa, offering organic nail, facial and waxing services, has leased 1,255 square feet in the… Read More →

Crossroads Corporate Center sells for $7.18M

Crossroads Corporate Center

CBRE has completed the sale of Crossroads Corporate Center located at the northwest corner of I-17 and Bell Road in metropolitan Phoenix. The ±105,107-square-foot office/flex building commanded a sale price of $7.18 million. Barry Gabel, Chris Marchildon, Ashley Brooks, Jim Bayless and Jenny Aust with CBRE’s Phoenix office negotiated the sale between the buyer, a… Read More →

Hines closes on purchase of 25-acre Chandler Viridian

C:UsersRogerDesktopProjectsHines - Chandler CommonsCADCD

Hines, the international real estate firm, announced today that it has closed on the purchase of the 25.5-acre site for Chandler Viridian, a mixed-use property on the northwest corner of the Loop 101/Loop 202 interchange, adjacent to the Chandler Fashion Center. Hines has been working on Chandler Viridian for nearly two years due to the… Read More →

Three tenants sign, open Shops at 38th Street Plaza

Shops at 38th St Plaza, WEB
October 16, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

SRS announced three new tenants now open at Shops at 38th Street, a neighborhood shopping center located at the northwest corner of Indian School Road and 38th Street in the Arcadia area of Phoenix. The Whining Pig Beer & Wine Bar is opening their second location just one year after their first location opened at 16th Street… Read More →

Hines buys Elevation Chandler site for $8.25M

ElevationChandler, Cassidy Turley, WEB

Cassidy Turley announced the sale of a 10.55-acre site at the northwest corner of Loop 101 and Loop 202 Freeways in Chandler, Ariz. Hines Interests Limited Partnership purchased the former Elevation Chandler site for $8.25 million. The seller was Price & Frye Investments, LLC. Cassidy Turley Executive Managing Directors David Fogler and Steven Nicoluzakis and… Read More →