Office Archives

Norterra West breaks ground in Phoenix

Norterra Rendering 01

USAA Real Estate Company of San Antonio, Texas, in association with Tempe, Arizona-based Metro Commercial Properties, has broken ground on a speculative office development in the I-17 / Deer Valley submarket in Phoenix. The development, named Norterra West, will include two (2), three-story Class-A office buildings approaching 300,000 square feet, and will capitalize on the… Read More →

Hayden Ferry 3 gets a new tenant

Hayden Ferry Lakeside in Tempe

Savills Studley represented utility software company iFactor with its long-term lease agreement at the new Hayden Ferry 3 development under construction in Tempe. Ryan Bartos and Matthew Coxhead of Savills Studley’s Phoenix office negotiated the transaction on behalf of iFactor; Bryan Taute of CBRE represented the landlord, Parkway Properties, Inc. iFactor signed a lease for… Read More →

Bahia in Scottsdale Airpark breaks ground

Bahia

Scottsdale-based developer, SAXA, Inc. and Caliber Companies groundbreaking ceremonies were held July 23rd for the new Bahia 101 Class-A Building. This event marks the development of North Scottsdale’s first commercial Class-A building in over 5 years. Planned for 40,000 square feet of space, the new 3-story commercial office building is on a 2.5-acre site, located within Horseman’s… Read More →

Cashen signs two leases within their 1,700,000 SF portfolio

123rf:  Andriy Popov

The first lease was signed at Mesa Fiesta Center located at Alma School Road and the U.S. 60 in Mesa.  A 25,000 s.f., ten year lease was finalized with the Feed My Starving Children organization.  The charity feeds 1,000,000 starving children around the world each year in 70 countries.  In 2014, they had over 900,000… Read More →

De Rito Partners announce recent commercial transactions

123rf.com: feverpitched

Jamba Juice joins Shops at Norterra Jamba Juice finalized a deal to add a new location in North Phoenix, at the northwest corner of Happy Valley Road and Norterra Parkway. John Palmieri represented the tenant in completing the lease of the 1,057-square-foot space. Sonoran Cycles joins new mixed-use development in Surprise Sonoran Cycles signed a… Read More →

August industrial and office property review

economy

ECONOMIC OVERVIEW The Metro Phoenix economy continued to improve adding 55,500 jobs over the past 12 months through March, marking an annualized job growth rate of 3.0%. The unemployment rate declined to 4.8%, the lowest rate since 2008, down 160 basis points (bps) from a year ago and 70 bps lower than the national rate.… Read More →

Preliminary master development plan for ASU Athletics Facilities District released

ASUAFD Preliminary Master Plan - 6.16.15

Arizona State University (ASU) and Catellus Development Corporation, a nationally recognized master developer, are taking an important step toward creating a world-class urban community immediately adjacent to ASU’s Tempe Campus.  Following several months of due diligence and market analysis, Catellus worked in collaboration with ASU to develop a preliminary master development plan to transform the… Read More →

JLL 2015 Skyline: Not Everyone Gets a Trophy

phoenix

There’s no space like Trophy space. The premiere office towers that make up Phoenix’s skyline boast—by far—the most expensive office space to rent, garnering asking rents that are 33.5 percent higher than non-Trophy space, according to JLL’s 2015 Digital Skyline. Average Phoenix Trophy rates in the first quarter of 2015 were $26.53 per square foot, compared to $19.87… Read More →

Colliers completes sale of luxury apartment complex in Florida

lease
June 18, 2015 by in AZRE Magazine | Brokerage | New to Market | Office

Colliers International in Greater Phoenix recently completed the sale of the 390-unit Grand Reserve at Park Isle, a gated Class A multifamily community in Florida. Grand Reserve Borrower LLC of Dallas, Texas purchased the complex, located at 2600 W. Grand Reserve Circle, in Clearwater Florida from Standard Grand Reserve LLC of Arcadia, California. The seller was represented by the Colliers Cooke Team, led by Cindy… Read More →

SAAR’s headquarters named ‘Best Rehab Office Project’

123rf.com:  Elnur Amikishiyev

The Scottsdale Area Association of Realtors® (SAAR), a trade organization headquartered in Scottsdale for the past 50 years, recently repurposed an existing vacant building in Scottsdale’s Perimeter Center to use as its new headquarters. Growth of the 8,000-member organization prompted the move from SAAR’s longtime home in Downtown Scottsdale. It purchased the vacant building at… Read More →

CBRE sells office building in Thistle Landing for $16.75M

ThistleLanding
June 6, 2015 by in AZRE Magazine | Brokerage | Office

CBRE has completed the sale of a 101,006-square-foot office building located at 4809 E. Thistle Landing in Phoenix. The property commanded a sale price of $16.75 million. Jim Fijan and Will Mast with CBRE’s Phoenix office negotiated the sale. The buyer was Menlo Equities. The seller was a joint venture between Everest Holdings and Walton… Read More →

Ground breaks on Reliable Forklift’s office, industrial shop

Reliable Forklift, WEB

Construction has officially started on Reliable Forklift’s new offices and industrial shop. A groundbreaking took place yesterday morning on the 3-acre lot located at 2150 East University Drive in Phoenix. Company owners, Don and Mary Carlson purchased the land and existing buildings in January 2015 to expand and relocate its current operations at 3652 E.… Read More →

Phoenix office building and data center sells for $91.5M

AMEX

American Realty Advisors, an institutional real estate investment manager with nearly $7 billion in assets under management, on behalf of one of its clients, has sold an office building and data center totaling 513,361 square feet in Phoenix, AZ for $91.5 million. The property is fully occupied by tenant American Express Travel Related Services Company,… Read More →

Concentrated Culture: The symbiosis of new-build and adaptive reuse

Portland on the Park, Courtesy of DAVIS

There are undeniable truths in commercial real estate. For instance — retail follows rooftops. However, when the right variables come together, the presence of retail can create a demand for mixed-use communities. This is a phenomenon Michelle Schwartz, associate at RSP Architects, has observed in her firm’s recent work. “Arizona has such a short history… Read More →