New to Market Archives

Irgens announces upcoming Gilbert medical campus

Gilbert medical campus
by in AZRE Magazine | Construction | Medical

The Irgens Phoenix office announced plans to develop Spectrum Medical Commons, a multi-building medical campus near Val Vista Drive and the 202 Santan Freeway. The Spectrum Medical Commons property is located immediately adjacent to Dignity Health Mercy Gilbert Medical Center. Groundbreaking of the first building is scheduled for January 2017 with completion slated for fall 2017.… Read More →

Phoenix multifamily market hits strongest level in 10 years

Capital Place, Downtown Phoenix
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix released its mid-year 2016 Multifamily Statistics, which reports that the past three months were the strongest quarter in 10 years for property sales. The multifamily market is expected to continue its improvement during the second half of the year. Investment activity reached its highest point since 2007 this past quarter… Read More →

Arizona Oncology breaks ground on state-of-the-art treatment center

Arizona Oncology
by in AZRE Magazine | Construction | Medical

Arizona Oncology, one of the largest medical groups in Arizona devoted exclusively to cancer care and a practice in The US Oncology Network, held a groundbreaking ceremony Friday for its new state-of-the-art cancer treatment center in the East Valley. The new 21,000-square-foot facility will be located at Arizona State University Research Park.  Scheduled to open in April 2017, it will offer patients in the growing… Read More →

Colliers negotiates $5.45M west Phoenix apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International of Greater Phoenix negotiated the $5.45 million sale of Bella Rio Apartments at 4903 W. Thomas Rd. in West Phoenix. The property was sold to a local investor who is adding the development to his existing portfolio of local apartment projects. “Bella Rio is a perfect example of a property purchased to take… Read More →

ABI Multifamily negotiates Biltmore Corridor sale

ABI Multifamily
by in AZRE Magazine | Brokerage | Multi-Family

Brokerage firm ABI Multifamily negotiated the $6,045,000 ($118,529/Unit) sale of the 18 at Biltmore Apartments, a 51-unit apartment community located in Phoenix, Arizona. 18 at Biltmore is a low density, one and two-story apartment community built from 1957 to 1962 of concrete construction and sits on approximately 3.5 acres of land. The property consists of… Read More →

Phoenix medical office space leasing faster than space is added

Healthcare Reform Impacting Healthcare Real Estate
by in AZRE Magazine | Medical

Colliers International in Greater Phoenix released its mid-year 2016 Medical Office Market Report for Greater Phoenix. Vacancy of Medical Office space in Greater Phoenix dropped in the second quarter to 16 percent, which is 180 basis points below mid-year 2015. Vacancy in both on-campus and off-campus locations has declined during second quarter. Net absorption of… Read More →

Spec Arrowhead Orchards medical office development is coming

Arrowhead orchards
by in AZRE Magazine | Medical

The Arrowhead Orchards medical office development is slated to see the first MOB spec project in the Valley since the recession. The property owner, Arrowhead Health Center, LLC, an entity affiliated with Legend Real Estate Management, Inc., will be developing more than 22,000 square feet of new product in the coming months. Los Angeles-based Legend… Read More →

Scottsdale shopping center gets facelift

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

Construction is starting up on a major renovation project for the shopping center known as Via Linda Crossroads in Scottsdale. The space located at 9015 E. Via Linda on the southeast corner of 90th Street and Via Linda was previously occupied by Ace Hardware. That space will be divided into two or three smaller suites and a… Read More →

SimonCRE to build Goodwill in Surprise

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by in AZRE Magazine | Construction | Retail

Commercial real estate developer SimonCRE recently purchased 2.13 Acres of land on the southwest corner of Greenway Road and Cotton Lane to develop a 25,036-square-foot building for Goodwill. Goodwill will be joining Pet Club and CVS in the Sierra Montana Crossing Center across from Marketplace at Prasada. SimonCRE plans to break ground July 26th with… Read More →

The Weitz Company finishes 2 buildings at The Colonnade

The Weitz Company

The Weitz Company completed construction on two, four-story independent living villas for Sun Health’s The Colonnade senior living community, according a spokesperson, Tuesday. Buildings five and six within The Colonnade were recently finished. The two buildings include 36-units condo-style homes with high-end finishes along with a courtyard and more. The Colonnade is one type of… Read More →

Phoenix industrial activity on the rise, according to reports

Phoenix Industrial
by in AZRE Magazine | Industrial

Phoenix industrial vacancies have been down, according to one report, as another report sites high activity in Phoenix’s third-smallest industrial submarket, northwest Phoenix. Colliers International Colliers International in Greater Phoenix released its mid-year 2016 Industrial Market Report for Greater Phoenix, and found an increase in leases for the second quarter. The Colliers report highlighted: Industrial… Read More →

Orion sells multi-tenant retail complex for $8.9M

ORION
by in AZRE Magazine | Retail

ORION Investment Real Estate negotiated the sale of a Mountain Side Fitness anchored retail center, Plaza at the Orchards, which sold for $8.9 million to a Gilbert-based buyer. Terra Marketing, Inc. purchased the 52,134-square-foot center, which is located near Bell and Reems Roads was 100 percent occupied at the close of escrow. Ari Spiro and Sean Stutzman, President… Read More →

Meridian arranges $14.5M in financing for Phoenix property

Meridian
by in AZRE Magazine | Multi-Family

New York-based Meridian Capital Group arranged $14.5 million in permanent financing for the refinance of a multifamily property located in Phoenix. The ten-year loan, provided by a national CMBS lender, features a fixed rate of 5.20 percent and two years of interest-only payments. This transaction was negotiated by Meridian Vice President Aaron Stempel, who is… Read More →

Fellowship Square in Surprise breaks ground

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Fellowship Square Surprise broke ground Wednesday on its newest senior housing community. The project, Fellowship Square Surprise, will be built at 16477 W. Bell Rd., and 16640 N. Sarival Rd., in Surprise. The senior living facility will consist of two buildings on 14.6 acres,  with 313 studio, one and two bedroom residences, including 255 independent living units,… Read More →