Brokerage Archives

Cushman & Wakefield recognizes top Phoenix producers for 2016

Phoenix
by in AZRE Magazine | Brokerage

Cushman & Wakefield honored 25 individuals and teams in each of its brokerage service areas including capital markets, tenant representation and agency leasing after finishing 2016 with a combined transaction volume of approximately $2 billion. The 2016 overall top producer was Executive Managing Director Eric Wichterman and the top overall producing team was Executive Managing Directors Michael… Read More →

Growing Kansas-based law firm signs lease at Esplanade

Cushman & Wakefield announced that Spencer Fane has leased 8,502 square feet at Esplanade, located at 2425 E. Camelback Road in Phoenix. The tenant signed an 18-month full-service gross lease for $38.00 per square foot from LBA Realty. The 11-story, 235,077-square-foot office building is phase one within the mixed-use Camelback Esplanade, located at the southeast… Read More →

Land in Glendale and Scottsdale sell for $6.2M

Scottsdale
by in AZRE Magazine | Brokerage | Site Selection

A land parcel in Scottsdale and a second land parcel in Glendale were sold in two separate transactions, which were both negotiated by Lee & Associates. The Glendale land site will be used for an expansion of the Coca Cola bottling plant in the Glendale airport. The 8-acre Glendale land parcel is at the southeast corner… Read More →

Pondering President Trump’s trade policy and impact on industrial real estate

President Donald Trump’s focus on curbing the trade deficit by bolstering U.S. exports and reducing imports could drive policy changes that impact industrial real estate markets throughout the U.S., Cushman & Wakefield reported in a logistics and industrial research briefing released today. However, the report concludes that a trade war with China or U.S. withdrawal from NAFTA… Read More →

2.15 acres sold near 24th street and Thomas road

24th street and Thomas road
by in AZRE Magazine | Brokerage

An infill development land site that was initially slated for 10 single-family homes was sold for $840,000, according to ORION Investment Real Estate. The site was purchased for $840,000. The 2.15-acre site is located just south of the southwest corner of Cambridge avenue and 27th street. Two Blonde Chicks LLC sold the property to Arcadia 1 LLC. Nick Miner… Read More →

Tempe apartment complex sold for $9M

Tempe apartment
by in AZRE Magazine | Brokerage | Multi-Family

A 100-unit Tempe apartment complex, Parkside Apartments, was sold to a California-based firm for $9 million, according to Cushman & Wakefield. The apartment complex is located near Broadway Road and Priest Drive at 1801 S. Cutler Dr. In Tempe and was sold by Clear Sky Capital Parkside to Devistar II Properties LLC. Cushman & Wakefield Executive… Read More →

Washington investor buys Glendale apartments for $19.5M

Glendale apartments
by in AZRE Magazine | Brokerage | Multi-Family

An apartment community near Luke Air Force Base in Glendale was purchased by a Washington-based investor for $19,500,000, according to Colliers International, the brokerage firm that worked on the deal. Desert Gardens V LLC, an Arizona limited liability company sold the Desert Gardens apartment complex to Del Marco LLC, a Washington limited liability company. The complex is… Read More →

Three self-storage facilities sell for $8.6M

Self-storage
by in AZRE Magazine | Brokerage

Business Property Trust sold three self-storage facilities in Tempe for $8.6 million to two separate buyers, according to Cushman & Wakefield, the brokerage team on the transaction. California-based Tempe Choice Self-Storage paid $4.1 million for the AA Bargain I & II portfolio. The two facilities are located at 1700 E. Curry Rd. and 816 N. Scottsdale Rd. Between the two… Read More →

Phoenix retail report: more demand, less vacancies, higher rents

Arizona Polymer Flooring

The Phoenix retail market started 2017 with strong leasing activity, rising net absorption and steady rental rates, according to Kidder Mathews’ Phoenix retail Q1 2017 report. The overall retail vacancy level of 8.6 percent represents the lowest vacancy rate recorded since the third quarter of 2008. Total vacancy decreased by 20 basis points, a result of 803,000… Read More →

Phoenix industrial report: total vacancy remains unchanged

Dexcom

The Phoenix industrial real estate market started the year with strong leasing activity, increasing development and steady rental rates. Despite 1.6 million square feet of positive absorption, new deliveries of over two million square feet caused vacancy to remain unchanged at 9.8 percent. Kidder Mathew, an independent commercial real estate firm, expects increased competition for space… Read More →

2 Scottsdale medical offices sell for $12.13M

Scottsdale medical offices
by in AZRE Magazine | Brokerage

A San Diego-based asset advisory firm purchased two North Scottsdale office buildings near Princess Drive and Hayden Road for $12.13 million, according to Cushman & Wakefield, the brokerage firm that worked on the deal. Phoenix-based Helix Properties LLC sold the two properties at 8322 E. Hartford Dr. and 8324 E. Hartford Dr. to Heritage Partners. The… Read More →

Phoenix office report: total vacancy drops to 9-year low

Phoenix

The Phoenix office real estate market experienced over a million square feet of positive net absorption, strong leasing activity and steady rental rates during the first quarter of 2017, according to Kidder Mathews’ Phoenix office Q1 2017 report. Direct vacancy decreased to 15.9 percent, a 120 basis point decrease from this time last year. The… Read More →

CBRE promotes Bryce Terveen to senior vice president

JLL
by in AZRE Magazine | Brokerage

CBRE promoted Bryce Terveen to senior vice president at the brokerage firm’s advisory and transaction services group. Terveen joined CBRE in 2005, following a six-year career as a professional baseball player with the Atlanta Braves and Seattle Mariners. Terveen represents tenants and guides corporate occupiers through the process of leasing, buying or disposing of office space… Read More →

CBRE negotiates sale of Tilted Kilt restaurant and headquarters

Tilted Kilt Tempe location
by in AZRE Magazine | Brokerage

In two separate transactions, CBRE completed the sale of Tilted Kilt’s build-to-suit flagship restaurant and corporate headquarters located at 1617 W. Warner Rd. and 8915 S. Harl Ave. in Tempe, Ariz., respectively. The 10,321-square-foot retail property is home to Tilted Kilt’s new flagship restaurant and is situated on approximately 2.6 acres of land. The restaurant… Read More →