New to Market Archives

Gilbert Orbital ATK offices sell for $5.5M

Orbital ATK offices in Gilbert
by in AZRE Magazine | Industrial

A California-based investment firm purchased the Orbital ATK offices in Gilbert near Baseline Road and Country Club Drive for $5.5 million. The 73,283-square-foot industrial facility at1405 N. Fiesta Blvd. in Gilbert was sold to Abington Emerson Investments by an undisclosed seller. The single-story industrial facility sits on a 5.2-acre site and was built in 1998. “Fiesta… Read More →

CBRE and ViaWest complete $23.3M sale in Chandler Midway Corporate Center

by in AZRE Magazine | Brokerage | Office

On behalf of ViaWest Properties, CBRE recently completed the sale of twin, two-story Class A office buildings in the Chandler Midway Corporate Center located at 5670 and 5710 W. Chandler Blvd. in Chandler, Ariz. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, Phoenix-based ViaWest Group. The buyer was Encino-Calif.-based Kramer-Wilson Company,… Read More →

Greater Scottsdale Airpark goes live, work, play

Scottsdale airpark hangar
by in AZRE Magazine | Office

The growing Scottsdale Quarter, facility additions like Sneaky Big Studios and new tech company tenants have propelled the Greater Scottsdale Airpark into the modern live, work, play era, according to a recent report. Jim Keeley released his annual Greater Scottsdale Airpark 2030 Report earlier this month, which credits the expansion of the Scottsdale Quarter to… Read More →

Construction commences on $50M renovation of Renaissance Square

Renaissance Square

Construction commenced today on phase one of a $50 million renovation of Renaissance Square, Downtown Phoenix’s iconic office towers at 2 and 40 N. Central Avenue. In a joint venture, Oaktree Capital Management, L.P., and Cypress Office Properties, LLC, purchased Renaissance square from Hines U.S. Core Office Fund, L.P last year for $151.25 million. The $10 million first… Read More →

Scottsdale Executive Office Center sells for $37.5M

Scottsdale Executive Office Center
by in AZRE Magazine | Office

CBRE recently completed the sale of Scottsdale Executive Office Center, a 181,238-square-foot Class A office campus located at 15880, 15990 and 16100 N. Greenway-Hayden Loop in Scottsdale, Ariz. Total consideration for the sale was $37.5 million. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, Phoenix-based Perry Investment Trust No.1 LLC. The… Read More →

Dexcom renovates warehouse into medical device manufacturing space

Skanska, one of the largest construction and development firms in the United States, is finishing construction on phase one of Dexcom’s facility located at 232 S. Dobson Road in Mesa. This 145,000-square-foot project is a build-out of an existing shell building. The first phase includes the renovation of a 60,000-square-foot industrial warehouse to medical device manufacturing space… 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 →

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 →

Scottsdale industrial facility sells for $285k

Scottsdale industrial facility
by in AZRE Magazine | Industrial

A Scottsdale flex/industrial condo facility near the Loop 101 and Bell Road sold for $285,000 to an individual buyer, Charles Comolli, Jr., according to ORION Investment Real Estate, the brokerage firm on the deal. ORION’s Nick Miner, represented both the buyer and the seller, OMF Holdings LLC, in the deal. The facility, 90th & Bahia Business Park Condos… Read More →

Operation renovation: Hospitality industry gets a makeover

The James Agency

With an impressive collection of new construction, renovations and modernization, Arizona’s hospitality industry has undergone more makeovers in the last year than the “Real Housewives of Beverly Hills.” Older hospitality assets experience major facelifts and overhauls to keep up with the changing standards of Arizona’s hospitality industry, which contributes $12.8 billion annually to Arizona’s Gross… Read More →

The Weitz Company completes construction of Savanna House

The Weitz Company
by in AZRE Magazine | Senior Living

Construction on a 119,000-square-foot assisted living and memory care facility, Savanna House, in Gilbert was completed by The Weitz Company in late March. The upscale facility offers three memory care neighborhoods. Each area caters to residents who are living with different stages of Alzheimer’s and dementia. The assisted living portion of the community will offer residents… Read More →

Resimmercial design brings the feeling of home to the office

Instead of bringing your work home with you, this office trend brings home to the office. As the latest workplace trends enable employees to work where, when and how they want based on their flex schedules and unique preferences, office furniture manufactures like Allsteel are using “resimmercial design” to create a welcoming, comfortable home-like environment… 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 →

Fry’s in Downtown Phoenix breaking ground in April

Block 23 Downtown Phoenix
by in AZRE Magazine | Construction | Mixed-Use

Developers will finally break ground in Downtown Phoenix on the much anticipated Block 23 mixed-use development, which will house the area’s first grocery store. RED Development will break ground on Block 23, which is located at First and Washington Streets, on April 13. The project includes a Fry’s Food Stores, 200,000 square feet of creative office… Read More →