New to Market Archives

Market upside helps JLL sell Phoenix Logistics Center

Strong market performance and continued confidence in Phoenix’s industrial market future has spurred the $18.4 million sale of Phoenix Logistics Center – sold this week by the Phoenix office of JLL on behalf of a joint venture between Overton Moore Properties and PCCP LLC, and acquired by Colony Northstar. JLL Managing Directors Bo Mills and Mark Detmer, and Vice President Ryan Sitov represented… Read More →

CBRE completes $66.4M sale of Camelback Commons

by in AZRE Magazine | Brokerage | Office

CBRE Group, Inc. has completed the sale of Camelback Commons, a ±322,406-square-foot office campus located at 4722 and 4742 N. 24th St. in Phoenix. The two building, Class A office property commanded a sale price of $66.4 million. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, a joint venture between California‐based… Read More →

Polaris Pacific hired for $90M luxury condo project in Chandler

by in AZRE Magazine | Multi-Family

The Statesman Group announced today that West Coast-focused Polaris Pacific has been hired to lead the sales and marketing for its $90 million dollar luxury condominium community, The Cays at Downtown Ocotillo. Located within Chandler’s sought-after Ocotillo lakefront neighborhood and along the vibrant Price Corridor, The Cays is a collection of 278 one- and two-bedroom… Read More →

California-based buyer acquires Thunderbird Village for $12.5M

by in AZRE Magazine | Brokerage | Retail

Brokers from LevRose Commercial Real Estate closed the sale of Thunderbird Village in Peoria for $12.5 million. Located at 7518 W. Thunderbird Road, the 82,099 square-foot building includes a 90 percent leased retail center. California-based company, Deerwood Retail Opportunities AZ, LLC, purchased the property from CAZCO Asset Management Inc. The brokers for the buyer were… Read More →

Tempe industrial park sold for $19.1M

Cushman & Wakefield completed the sale of Kachina Industrial Park, located at 1805-1850 W. Drake Drive in Tempe on behalf of Northern California-based Kieckhefer Properties. Libitzky Holdings LP of Emeryville, Calif. purchased the property for $19.1 million. Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller. Kachina Industrial… Read More →

312SF Parc Pinnacle Industrial Project breaks ground

by in AZRE Magazine | Construction | Industrial

Dallas-based Jackson-Shaw has partnered with Las Vegas-based LaPour Partners Inc. to break ground on Parc Pinnacle, a 311,840-square-foot, three-building speculative industrial project in Deer Valley, Arizona. The Phoenix office of JLL was granted the leasing assignment for the new development. “We have had a successful history developing quality industrial products in Deer Valley over the… Read More →

Verde Dimora Apartments in Mesa sell for $22.25M

The Verde Dimora Apartments at 2217 N. Power Rd. in Mesa have been sold to a Canadian investor for $22,250,000. The buyer is expanding its portfolio of Arizona properties and plans long-term ownership of the community. Western Wealth Capital (WWC), LLC of Arizona purchased the property from Verde Dimora, LLC, an Arizona limited liability company.… Read More →

Phoenix medical office market looks healthy, despite political turmoil

Phoenix medical office market

Political uncertainty and the proposed replacement of the Affordable Care Act have many in the healthcare industry wondering what’s next. Despite the current quandary, Metro Phoenix’s medical office market is expected to remain healthy for the foreseeable future following a strong 2016 that produced re-assuring sales and leasing numbers. Sharing their analysis and outlook of last… Read More →

Environmental consulting firm moves headquarters to Phoenix Plaza

The Phoenix Plaza
by in AZRE Magazine | Brokerage | Office

SWCA Inc., an employee-owned environmental consulting firm, leased 21,339 square feet of office space at 20 E. Thomas Rd. for expansion and relocation of its headquarters. “20 E. Thomas Rd. offered SWCA the opportunity to occupy a full floor of the building. The large, efficient floorplates, high-end finishes, and proximity to walkable amenities made this… Read More →

Four architectural firms work to reimagine an entire floor at Renaissance Square

Renaissance Square
by in Architecture | AZRE Magazine | Office

Renaissance Square’s “outdated image” is getting reimagined by four architectural groups, which were selected by the office development’s latest owners to design the entire fourth floor of Renaissance One. Video courtesy of Oaktree Capital – Renaissance Square from Lee & Associates Arizona on Vimeo. The redesigns, dubbed “Project Future,” will turn the 18,379-square-foot fourth floor… Read More →

Redevelopment plans will transform Phoenix hotel into senior housing

A partnership between Bruckal Developments and Ridgeline Properties has purchased the former Country Inn & Suites property at 20221 N. 29th Ave. for a price of $8,336,000. The buyer plans to convert the property into senior housing — assisted living and memory care. “This is one of the most creative and complex real estate transactions… Read More →

Berkadia secures $29.7M for Phoenix multifamily property

Berkadia announced the sale of the 152-unit Park 28 Apartments, a new luxury multifamily community located in Phoenix. Senior Managing Director Mark Forrester, Senior Managing Director Ric Holway and Senior Director Dan Cheyne closed the $29.7 million sale on behalf of the seller, an entity of Evergreen Development Company. The buyer was Pure US Apartments… Read More →

JLL completes $81.75M sale of Camelback office building

by in AZRE Magazine | Office

The Phoenix office of JLL today announced the sale of 3131 and 3133 Camelback on behalf of TR Camelback Corp. The two-building, Class A office property is in the heart of the Camelback Corridor, which has enjoyed an average 93 percent occupancy rate since its delivery to market in 1998. Archon Acquisition LLC, a Goldman Sachs company,… Read More →

ABI brokers $9.1M sale of a multifamily community near GCC

by in AZRE Magazine | Multi-Family

ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, announced the $9,100,000 / $58,333 per unit sale of the Cambridge Square Apartment Homes, a 156- unit apartment community located in Glendale, Arizona. The property features (7) three-story buildings, built of frame/stucco construction in 1984 and rests on approximately 4.32 acres. Cambridge Square… Read More →