New to Market Archives

Hexagon Mining selects Downtown Tucson for headquarters

Today, Hexagon Mining, an information technology provider of planning, operations and safety solutions for the mining industry, announced the relocation and expansion of its North American headquarters in Tucson to Downtown Tucson. Hexagon Mining selected City Park at 40 E. Congress Street in Tucson as its new North American headquarters. The company will lease 26,000 square feet on the… Read More →

Apartments along Washington Street sell for $25M

Apartments along Washington Street
by in AZRE Magazine | Multi-Family

A luxury apartment community along Washington Street, near the Red Mountain Loop 202 Freeway, sold for $25 million to Denver-based Capital Real Estate, according to the brokers on the deal. NMS Property Services sold the 180-unit apartment complex, Mandarina Luxury Apartment Homes, and ORION Investment Real Estate represented both the buyer and seller in the… Read More →

Tempe apartments on Baseline sell for $16.35M

Tempe Apartments Sevilla
by in AZRE Magazine | Multi-Family

Sevilla, a 169-unit apartment complex at 1145 W. Baseline Rd., Tempe, sold for $16.35 million to Deleware-based Capital Real Estate LLC, according to Berkadia, the brokerage firm on the deal. Senior Managing Directors Mark Forrester and Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of the Berkadia Phoenix office exclusively listed the property… Read More →

Moving company buys industrial property for $7M

Moving company location
by in AZRE Magazine | Industrial

A 94,885-square-foot industrial distribution property at 2021 E. Jones Ave., Phoenix, sold for $7,068,932 or $74.50-per-square-foot to a national moving and storage company. Lee & Associates Principal Matt McDougall represented the building owners, Cohen Asset Management, Los Angeles, while Principal Steve Farrell represented the buyer, Phoenix-based S&M Moving Systems. The company is one of the… Read More →

Report: Average Phoenix rents reach new high

Phoenix rents multifamily
by in AZRE Magazine | Multi-Family

Phoenix’s average rent reached a new high this past February at $976 compared to 2016’s February average rent at $935, according to Axiometrics an apartment and student housing analytics firm. The Phoenix annual effective rent growth for February is at 4.4 percent, with a 94.6 percent occupancy rate in Phoenix, according to the report. The… Read More →

Glendale completes Municipal Landfill Facilities Improvement Project

In 2013, the Glendale City Council was advised by the city’s Department of Public Works staff that operations at the Glendale Municipal Landfill’s “south area” were approaching capacity and the closure of the southern portion of the landfill was eminent. Glendale city leaders moved forward and approved a plan that called for the seamless transitioning… Read More →

Solar company to move operations from California to Tempe

Solar company warehouse
by in AZRE Magazine | Industrial

An entity owned by California-based Solar Junction, a solar cell manufacturer, purchased a warehouse in Tempe with plans to move Solar Junction operations to the facility near 48th Street and Southern Avenue, according to Lee & Associates, the brokers on the sale. Huntington Geneva LLC, a holding entity for the San Jose-based Solar Junction, acquired… Read More →

Blue 32 Sports Grill completes 4th location in Chandler

Blue 32 Sports Grill
by in AZRE Magazine | Retail

The ownership team of Blue 32 Sports Grill continued its business plan of expansion by engaging a pair of locally owned companies to design and construct its fourth location, bringing life to a Southeast Valley corner that has been a blight for Chandler residents. Scottsdale-based firms Sigma Contracting and DPA Architects collaborated on the 4,000-square-foot restaurant… Read More →

Apartments near Alma School Road sell for $20M

Apartments near alma school road
by in AZRE Magazine | Multi-Family

Fiesta Park Apartments at 1033 S. Longmore Rd. has been sold for $20 million. A California-based real estate company acquired the property to expand its portfolio of apartment communities in the Phoenix area. The property consists of 10, three-story apartment buildings that contain 320 units totaling 234,696 square feet. Situated on 8.8 acres of land,… Read More →

Rivulon moves forward with 2 upcoming office spaces

Rivulon
by in AZRE Magazine | Office

The 250-acre master-planned Gilbert development, Rivulon, is continuing to move along as its developers get ready to break ground on two 60,000-square-foot office spaces. Nationwide Realty Investors, the developers behind the mixed-use project near Gilbert Road and the Loop 202 SanTan Freeway, has been seeing a lot of office momentum lately as they gear up… Read More →

Apartments near Metrocenter sell for $14.35M

Apartments near Metrocenter
by in AZRE Magazine | Multi-Family

A 224-unit Phoenix apartment community near Metrocenter Mall was sold by Pacific Real Estate Partners Inc. to Dalan Management for $14.35 million, according to Marcus & Millichap, which worked on the deal. The apartment community, Sterling on 28th, is situated on 8.09 acres, includes one, and two-bedroom/two-bath apartments with fully equipped kitchens, large pantry spaces, ceiling fans,… Read More →

Scottsdale Airpark hangar and offices sell for $4.5M

Scottsdale airpark hangar
by in AZRE Magazine | Office

An executive office and hangar facility at the Scottsdale Airpark were sold for $4.5 million to Potts Properties LLC, according to CBRE, which worked on the Scottsdale sale. The newly purchased facilities are located at 15834 N. 80th St. in Scottsdale, and were sold by Hill Valley Real Estate Holdings LLC. Bill Bayless with CBRE’s Phoenix office… Read More →

Daum works on $11.2M worth of industrial sales

Daum
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services has negotiated the $11.22 million sale of three industrial buildings located in Phoenix. In the first transaction, Zouras Trust of Santa Fe Springs, Calif. purchased two single-story industrial office buildings in Southbank Business Center located at 3249 and 3259 E. Harbour Dr. in Phoenix for $4.8 million. The 3249 E. Harbour… Read More →

The Highlands in Scottsdale sell for $48.5M

The Highlands
by in AZRE Magazine | Multi-Family

A 272-unit Scottsdale multifamily community was sold by its California-based owners to another California-based firm for $48.5 million, according to CBRE, which worked on the deal. The Highlands, a garden-style community with one, two and three-bedroom floor plans, was bought by Newport Beach-based Olen Properties from Irvine-based Bascom Group. Bascom Group was represented by Tyler Anderson, Sean… Read More →