Brokerage Archives

561-unit Phoenix apartments sell for $36.25M

Phoenix apartments
by in AZRE Magazine | Brokerage

A Los Angeles-based property firm sold a 561-unit community in Phoenix for $36.25 million, according to Cushman & Wakefield. B.H. Properties sold the property to Phoenix-based 3rd Avenue Investments LLC. The apartment community, Madera Court, was built in 1982, and is considered to be a great property for interior and exterior renovations, according to Cushman & Wakefield.… Read More →

Hines buys Southwest Industrial Center for $47.3M

Southwest Industrial Center
by in AZRE Magazine | Brokerage

Hines, the international real estate firm, acquired the Southwest Industrial Center from Hillwood Property Trust for $47.3 million. The  Class A industrial park is located in the heart of the Southwest Valley submarket in Phoenix at Buckeye Road and 75th Avenue. The project consists of a 684,000-square-foot, 32-foot clear logistics warehouse and an adjacent development parcel capable of accommodating a… Read More →

Former Peoria RV storage facility sells for $3.9M

by in AZRE Magazine | Brokerage

An industrial warehouse in Peoria at 10857 N. 95th Ave. was sold by Peoria Mini Storage II LLC to Precision Fleet Services, according to Commercial Properties Inc./CORFAC International (CPI). The building is approximately 81,060 square feet, located just north of Peoria Avenue and visible from the Loop 101 Freeway. CPI’s Chad Ackerley represented Precision Fleet… Read More →

Standalone Old Town Scottsdale building sells for $1.8M

Old Town Scottsdale
by in AZRE Magazine | Brokerage

Churchplace Inc. purchased a standalone commercial building in Old Town Scottsdale, located near Goldwater Boulevard and Scottsdale Road, for $1.8 million, according to Levrose Commercial Real Estate/TCN Worldwide, negotiators on the deal. World Trade Investments LLC sold the property, at 3625 N. Marshall Way. The building is a 5,502-square-foot single-tenant building with high end finishes… Read More →

Scottsdale Airpark facility sells for $2.1M

Scottsdale Airpark
by in AZRE Magazine | Brokerage

A 14,500-square-foot industrial facility in the Scottsdale Airpark sold to SWAKE Holdings LLC, according to ORION Investment Real Estate, which represented SWAKE. The industrial warehouse property at 15210 N. 75th St. in Scottsdale, was sold for $2,100,000, totaling $145-per-square-foot. The property was built in 1994, and is centrally located in the Scottsdale Airpark. The Airport and… Read More →

Orcutt | Winslow relocates HQ next door on Central Corridor

Orcutt | Winslow
by in AZRE Magazine | Brokerage | Office

The Phoenix office of JLL has completed a 21,390-square-foot, long-term lease that relocates the corporate headquarters of Orcutt | Winslow into a new building on the Central Corridor, continuing the architecture, planning and interior design firm’s decades-long presence in metro Phoenix’s Central Business District. The new lease moves Orcutt | Winslow from Phoenix Corporate Center, at 3003 N. Central Ave., into… Read More →

Avnet headquarters sell for $32M

Avnet Headquarters
by in AZRE Magazine | Brokerage

The corporate headquarters of Avnet Inc. has been sold to Phoenix-based Cole Office & Industrial REIT (CCIT II) Inc. for $32 million. The Class A, 176,402-square-foot building at 2211 S. 47th St. has been the technology company’s worldwide headquarters since 1997. “This signature property provided an opportunity to acquire a global corporate headquarters with a long-term,… Read More →

Corporate Center returns to market for resale with full occupancy

Cohen Equities acquired Corporate Center in January of 2016 with 50-percent vacancy and has brought the property to full occupancy in under a year. Now it plans to resell the asset. The national real estate investment firm pursues commercial assets that present an opportunity to add value in both secondary and gateway markets. After bringing the… Read More →

Developers buy North Scottsdale land occupied by LA Fitness

North Scottsdale land
by in AZRE Magazine | Brokerage

Fenix Development purchased the land occupied by LA Fitness, located at 13220 N. Scottsdale Rd. in Scottsdale, from Bayport Scottsdale Road Associates, LP for $9.85 million, according to Cushman & Wakefield. The Cushman & Wakefield team of Brent Moser, Mike Sutton and Brooks Griffith represented the Fenix Development. Fenix Development is the developer of the Watermark… Read More →

CBRE completes 3 multifamily sales totaling $199.4M

by in AZRE Magazine | Brokerage

CBRE completed three multifamily property deals across the metro Phoenix area in the past five days, totaling in $199.4 million worth of transactions. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE worked on all three of the multifamily property sales. The three deals were completed in the last five business days, according to CBRE.… Read More →

GPEC renews lease at Renaissance Square

by in AZRE Magazine | Brokerage

Hines, the international real estate firm, announced it has renewed a long-term 11,976-square-foot lease for the Greater Phoenix Economic Council (GPEC) at Renaissance Square in Phoenix. GPEC, which has been in Renaissance Square since its inception, will continue occupying its space on the 25th floor. The organization renewed an 8-year lease and is updating the office into a… Read More →

NAI Horizon negotiates Planet Fitness Gilbert lease

Planet Fitness
by in AZRE Magazine | Brokerage

NAI Horizon negotiated a long-term lease for a Planet Fitness at Warner Greenfield Square, 858 S. Greenfield, Rd., in Gilbert, Ariz. The NAI retail properties team of Senior Vice President Chris Gerow, Senior Vice President Shelby Tworek, Vice President Gabe Ortega and Retail Specialist Patrick Anthon represented JEG-FIT Greenfield & Warner LLC of Philadelphia in… Read More →

Brokers picked for 18-acre Tempe bio and tech hub

by in AZRE Magazine | Brokerage

The Boyer Company, in partnership with SmithGroupJJR and Okland Construction, has awarded Cushman & Wakefield the marketing and leasing assignment for TCA Technology Park, a planned 18-acre biomedical and technology campus in Tempe, Ariz. Cushman & Wakefield Directors Mark Stratz and Scott Baumgarten have the lease assignment for Tempe’s first biomedical and technology campus. “The Boyer Company and the members… Read More →

Casa Grande retail strip sells for $1.8M

Casa Grande
by in AZRE Magazine | Brokerage | Retail

A multi-tenant retail strip center in Casa Grande sold for $1.8 million to SimonMed Imaging, accoriding to Commercial Properties Inc./CORFAC International (CPI). Mike Sayre of Cushman Wakefield represented the buyer, SimonMed Imaging, and Sarge Glenn of CPI’s Industrial Team represented the seller, LBUBS 2004-C8 Retail 1664 LLC. The property is located at 1664 E. Florence Blvd. in Casa… Read More →