New to Market Archives

Arizona Center will get a $25 million makeover

Scheduled to break ground in early 2017, the project will take approximately nine months to complete.  (Rendering courtesy of Parallel Capital Partners and Angelo, Gordon & Co.)
by in AZRE Magazine | Retail

Arizona Center, Phoenix’s original downtown entertainment destination located at Third and Van Buren Streets, will undergo a significant transformation beginning early 2017. Acquired by Parallel Capital Partners and Angelo, Gordon & Co. in December 2015, the new Arizona Center will embark on a $25 million makeover in 2017. “The Arizona Center refresh will create a new model for… Read More →

Urbanization drives luxury multifamily market


Multifamily construction in Greater Phoenix returned to record level highs for completed number of units, rental rates and investment activity for the first time in over a decade. This year marks one of the highest rates of completion of multifamily developments since 2000. It also exceeds investment activity levels not seen since 2007. In turn,… Read More →

Liberty Property Trust fills nearly finished Rio Salado office

by in AZRE Magazine | Office

Liberty Property Trust today announced that it has executed two new leases, filling its nearly complete 135,663 square foot speculative office building at 1930 West Rio Salado Parkway in Tempe. DriveTime Automotive Group, an existing tenant in 1720 West Rio Salado Parkway at Liberty Center at Rio Salado, will expand into 65,889 square feet of… Read More →

Western Wealth Capital’s Janet LePage earns honor  Elnur Amikishiyev
by in AZRE Magazine | Multi-Family

Esteemed Champagne House, Veuve Clicquot, has awarded Janet LePage, CEO and co-founder of Western Wealth Capital, with its 2016 New Generation Award. LePage was selected from a shortlist of young entrepreneurs from across Canada. LePage, 35 years old, has grown Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, to the 3rd largest… Read More →

LGE, Revelation Real Estate team up on $5M project

The $5 million mixed-use project planned for Revelation Real Estate broke ground today at 2301 South Stearman Drive, Chandler, AZ 85286.
by in AZRE Magazine | Construction | Mixed-Use | Office

LGE Design Build broke ground today on a massive $5 million mixed-use project for Revelation Real Estate in Chandler. Revelation Real Estate sets the gold standard when it comes to offering top-notch residential properties and employing the Valley’s most award-winning professionals, and LGE Design Build, too, sets the bar when it comes to designing and… Read More →

Valley’s industrial market remains red hot

New York Life Insurance Company

The Metro Phoenix industrial market remains strong through the third quarter of 2016, recording a vacancy rate of 9.3%, according to the third quarter industrial report released by Cushman & Wakefield. Fifteen of the 17 defined submarkets have experienced improvements in overall vacancy rates since Q3 2015. The Southwest Phoenix saw a decrease in vacancy, finishing… Read More →

Adaptive reuse project revitalizes Roosevelt Row Arts District

The Blocks at Roosevelt Row (Photo courtesy of Desert Viking)

A NEW DOWNTOWN PROJECT MERGES CHEF-DRIVEN DINING, ARTISAN RETAILERS AND WORKING ARTIST STUDIOS AND GALLERIES TOGETHER IN ONE COLLECTIVE SPACE ~The Blocks of Roosevelt Row Indulges Guests with a Place to Connect, Create and Collaborate~ Desert Viking Development is thrilled to announce a new project underway revitalizing a portion of the Downtown Phoenix’s beloved Roosevelt… Read More →

Take a Look: Oscar’s New Space at The Circuit

(Photos courtesy of Ryan Wilson Photography)
by in AZRE Magazine | New to Market | Office

Insurance company moves in this month to true adaptive re-use project New York-based insurance company Oscar has officially moved into The Circuit in Tempe, and is gearing up to take full advantage of its 90,000 square feet of true creative office space. The Circuit was purchased and redeveloped in 2014 by a joint venture between EverWest… Read More →

Camelback Corridor redevelopment property sells for $17M

Camelback Collective rendering (Courtesy of CBRE)

Obsolete Office Project Slated for Redevelopment into High-end Mixed-use Project  A prominent ±3.62 acre infill, redevelopment site located in the prestigious Camelback Corridor area of Phoenix has sold for $17.475 million, or $111 per sq. ft. of land. The property, located at 2801 and 2845 E. Camelback Road, was acquired by a joint venture of… Read More →

ASU breaks ground on $120M Biodesign C Research Building

(Rendering courtesy of McCarthy Buildings Companies)

McCarthy Building Companies recently broke ground on the new $120 million Biodesign C Research Building, the third building in ASU’s Biodesign Institute complex at Arizona State University. The new research facility will include five stories plus a basement and will be located on ASU’s main campus in Tempe, Ariz., adjacent to the ASU Biodesign B building.… Read More →

Phoenix ranks No. 20 among top green office markets in U.S.

by in AZRE Magazine | Office

Institutional owners of office buildings continued to pursue green building certifications in the 30 largest U.S. markets during 2015. Phoenix ranked No. 20 out of the 30 office markets analyzed for the green office study. Phoenix’s ranking slipped two spots from the previous year, and the square footage percentage of green space slipped from 30.4… Read More →

Central Phoenix apartments sell for $5.325M

Central phoenix apartments
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix has negotiated the $5,325,000 sale of Patio 15, a Central Phoenix apartment property located at 1523 West Colter St. “This property offered a great opportunity for the buyer to acquire real estate near the popular light rail system,” says Jeff Sherman, executive vice president with Colliers International. “Patio 15 offers… Read More →

Bascom buys Prescott senior living facility

by in AZRE Magazine | Senior Living

Bascom Arizona Ventures has acquired the Prescott Lakes Senior Community, a 123-unit luxury independent living senior apartment community for $18,000,000 or $146,341 per unit. The property is located in Prescott, Arizona in the highly desirable Prescott Lakes master planned community. Bascom Arizona Ventures worked with Brian Halpern and Alex Kane of Jones Lang LaSalle Americas,… Read More →

Colliers negotiates $8.08M apartment sale

by in AZRE Magazine | Brokerage | Multi-Family

Springwood Apartments at 2540 N. 51st Ave. have been sold for $8,080,000 to a California private investor. The sale is part of the dynamic multifamily investment market attracting out-of-state buyers to Phoenix. “This buyer recognizes a terrific value-add opportunity in this property,” says Trevor Koskovich, executive vice president with Colliers International in Greater Phoenix. “The… Read More →