New to Market Archives

Cabot Business Center in Phoenix sells for $11,375,000

by in AZRE Magazine | Office

Dunbar CBC, LLC, an affiliate of California-based Dunbar Real Estate Investment Management, has sold Cabot Business Center for $11,375,000. Kidder Mathews commercial real estate brokers, Darren Tappen, Peter Beauchamp, Aric Adams, Mike Kasulaitis, and Matthew Ault, represented Dunbar CBC, LLC in the transaction. The five-story, 109,805 square foot, multi-tenant industrial/flex business center is located at 3802-3922 E. University Drive in Phoenix, Arizona.  The… Read More →

Hunter Engineering acquires Gold Dust Corporate Center

by in AZRE Magazine | Office

Cushman & Wakefield and SalCohn, LLC completed the sale of Gold Dust Corporate Center, located at 10446 N. 74th Street in Scottsdale, Ariz., for $5.35 million. Michael Kitlica, Eric Wichterman and Mike Coover of Cushman & Wakefield represented the seller. Adam Tolson of Lee & Associates represented the buyer, Hunter Engineering. Built in 2002, Gold… Read More →

CBRE announces 6 new tenants for The Quad

by in AZRE Magazine | Brokerage | Office

CBRE announces six new leases have been inked at The Quad, a 14-building creative office project encompassing 166,606 square feet at the center of south Scottsdale. The Class A property, which boasts open and collaboration-friendly floor plans, outdoor workspace and myriad amenities, such as tenant amenity space and conference center, a fitness center, dog parks,… Read More →

Freeway expansion helps JLL close $18.4M Class A building sale

by in AZRE Magazine | Office

Proving the power of amenities like walkability and freeway access – including a location near the future Loop 202/South Mountain Freeway expansion – the Phoenix office of JLL has completed the $18.40 million sale of Foothills Corporate Centre II, an approximately 145,000-square-foot office building located along I-10 in the heart of Awhatukee, in Phoenix, Arizona. JLL Senior… Read More →

Institutional Property Advisors closes $41.4M in multifamily deals

by in AZRE Magazine | Brokerage | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed $41.4 million in deals recently.  Value-Add Multi-Housing Asset Sold by IPA in Phoenix IPA announced the sale of Sonoma Villas, a 265-unit multifamily asset in Mesa, Arizona. The $22.4 million sales price equates to $84,528 per unit. “Constructed in 1980, Sonoma Villas provides new… Read More →

Multifamily housing booms along Chandler’s Price Corridor

by in AZRE Magazine | Multi-Family

As Chandler’s booming Price Corridor continues to grow, area homebuyers are driving a new demand for luxury urban living which is fueling new developments like The Cays at Downtown Ocotillo, one of the area’s first upscale condominium developments. In the past decade, Chandler has gained over 100,000 new residents bringing the total population to nearly… Read More →

Office sector undergoing important shift in dynamics

Tempe
by in AZRE Magazine | Office

Amid varying economic performances and property fundamentals, North American and European office leasing markets are generally performing well as they undergo an important shift in dynamics influenced by trends transforming both occupier demand and the supply of new product. Traditional drivers of demand are being joined by emerging disruptors that will increasingly shape the future… Read More →

Opus plans speculative industrial project in Longbow Business Park

by in AZRE Magazine | Construction | Industrial

The Opus Group (Opus) announced today plans to build a speculative industrial project in the Longbow Business Park and Golf Club in Mesa. Construction on the 147,672-square-foot project, named Longbow Gateway One, is slated to begin this month, with project completion scheduled for January 2018.  “We are excited to develop this project in the Southeast… Read More →

LaneTerralever relocates to expanded office space at Missouri Falls

by in AZRE Magazine | Office

Nationally recognized marketing service agency LaneTerralever, is relocating from its 22,864 SF, Midtown headquarters at 725-733 W. McDowell Rd., Phoenix to a larger office at Missouri Falls, 645 E. Missouri Ave., Phoenix, where they signed a 7-plus year, 25,625 SF lease at the Class A office building. The firm will continue to lease back space… Read More →

Valbuena Institute buys $1.3M medical office building in Scottsdale

by in AZRE Magazine | Medical

The Valbuena Institute has purchased a medical office building at 9831 E. Bell Rd. for $1,321,936.00.  The institute will relocate its Valbuena Wellness Center to the property. “This property offered very convenient access to the Loop 101 and enables my client to expand their practice and add service lines for their patients,” says Phil Wurth,… Read More →

Contest offer artists free rent at Broadstone Arts District

by in AZRE Magazine | Multi-Family

Broadstone Arts District, a work of art in its own right, will be giving three lucky artists the chance of a lifetime to live rent-free for four months while developing their craft and making a name for themselves within the downtown Phoenix arts community.  “Broadstone Arts District believes in the value of art and its… Read More →

CBRE: Big box leasing activity fuels Phoenix retail market

by in AZRE Magazine | Retail

CBRE Research has released its Q2 2017 Phoenix Retail Market View and Q2 Phoenix Retail Big Box Report, and healthy levels of positive net absorption, steady big box leasing activity and a notable decline in the market-wide vacancy rate all point to a strong retail market in the second quarter of 2017.  “With steady job… Read More →

Texas-based Varsity Tavern joins Mill Avenue lineup

by in AZRE Magazine | Brokerage | Retail

NAI Horizon negotiated a long-term lease for Texas-based Varsity Tavern at 501 S. Mill Ave., in Tempe. The NAI retail properties team of Senior Vice Presidents Shelby Tworek, Chris Gerow and Gabe Ortega and Associate Patrick Anthon represented the tenant, Ipsum Creative LLC of Tempe, in the transaction totaling $2.641 million. Varsity Tavern will occupy… Read More →

P.B. Bell breaks ground on Arista at Ocotillo

by in AZRE Magazine | Construction | Multi-Family

P.B. Bell, a leader in multifamily housing development, management and acquisitions, is marking the groundbreaking of its latest project, a resort-style community within the Ocotillo master-planned community in Chandler, Arizona. Arista at Ocotillo is being developed with joint venture partner Gilbane Development Company. MT Builders will partner with the team to bring Arista to life.  The… Read More →