Office Archives

ARM signs lease for Arizona operations in Chandler

ARM
by in AZRE Magazine | Brokerage | Office

Cushman & Wakefield, a commercial real estate services firm, announced, Monday, that ARM Inc. leased a 13,275 square-foot space for its new Arizona operations at The Park at San Tan in Chandler. ARM, headquartered in Cambridge, England, is a semiconductor intellectual property supplier. ARM licenses intellectual property to a network of partners, which includes the world’s… Read More →

Hoskin-Ryan signs long-term Phoenix lease

123rf.com: Vitaliy Vodolazskyy
by in AZRE Magazine | Brokerage | Office

Hoskin-Ryan Consultants, Inc., a full-service, civil engineering firm signed a long-term, 12,808 SF office lease at 5050 @ Camelback located near 40th Street and Camelback Road. Craig Coppola and Andrew Cheney, Principals and Gregg Kafka, Associate with Lee & Associates, represented the landlord, California-based Mark IV, Capital Inc., while Scott Nelson with Commercial Properties, Inc.… Read More →

Wells Fargo sells Tempe office building for $6.25M

Sold Sign
by in AZRE Magazine | Office

Well Fargo sold its office building near Broadway Road and Roosevelt Street in Tempe for $6.25 million to Evergreen Devco. The bank secured a short-term lease to continue occupancy of the 75,000-square-foot building. Senior Directors Don T. Rodie and Jim Crews of Cushman & Wakefield negotiated the sale and lease on behalf of Wells Fargo.… Read More →

Former Giant Industries offices sold for $8.5M

123rf.com: Jakub Jirsak
by in AZRE Magazine | Office

The former Giant Industries corporate headquarters sold for $8.5 million to an investor who plans to convert the property into an assisted living facility. Generations at Pinnacle Peak, LLC of Grand Haven, MI, acquired the property, which is located at 23733 N. Scottsdale Rd., from United Insurance Co. of America, a company formed by Kemper… Read More →

Redeveloped Phoenix office space sells for $3.9M

BallyRedev-Exterior Building Rendering.jpg
by in AZRE Magazine | Office

CBRE completed the sale of a commercial property that had been redeveloped into an office space for $3.9 million. The property was formerly a Bally Total Fitness facility, and is located in the Arizona Business Park at 15401 N. 29th Avenue in Phoenix. Ashley Brooks and Jim Bayless with CBRE’s Phoenix office negotiated the transaction.… Read More →

Phoenix office sector finishes 2015 on upswing

Ways to Boost Financial Performance in Face of Economic Uncertainty
by in AZRE Magazine | Office

The Phoenix office sector took a strong turn to finish the fourth quarter in solid fashion. The year started off slow, but picked up momentum as the year progressed and accelerated the pace into the final months, according to a Lee & Associates report. Most all major indicators were positive for the quarter and for… Read More →

Lincoln sells $37M 5-building Phoenix portfolio

sold
by in AZRE Magazine | Brokerage | Industrial | Office

In a $37.98 million deal, Lincoln Property Company announced the completion of the sale, Wednesday, of a five-building Northwest Phoenix industrial portfolio to Colorado-based REIT Industrial Property Trust, Inc. The deal includes Lincoln Deer Valley and Lincoln Pinnacle Park assets. “These buildings are 97 percent NNN leased with staggered expirations, and below-market rents that deliver… Read More →

Arizona Center sells for $126 million

Arizona Center
by in AZRE Magazine | New to Market | Office | Retail

Continuing to expand its downtown Phoenix presence, San Diego-based Parallel Capital Partners, in joint-venture with Angelo, Gordon and Co., announced today it has acquired Arizona Center – a Class A, 16-acre mixed-use campus in downtown Phoenix – for $126 million. Spanning over one million square feet, the Van Buren Street property – acquired from Equity… Read More →

BMO Harris moves regional headquarters

Central Arts Plaza

BMO Harris Bank will be the newest tenant in the tower at Central Arts Plaza located at 1850 N. Central Ave. The Chicago-based bank is relocating its regional headquarters from its current location at One Camelback at the southeast corner of Central Avenue and Camelback Road. As part of the lease transaction, the iconic office… Read More →

LGE Design Build completes Peoria CenturyLink building

CenturyLink

LGE Design Build has recently completed a 7,016-square-foot building at 9165 W. Cactus Road, near Loop 101 and Grand Avenue in Peoria, for CenturyLink, a Louisiana-based provider of Internet, TV and voice services. The building is situated on 2.5 acres. The building includes supply, meeting, office, crew and break rooms. CenturyLink started operating in its… Read More →

LGE Design Build completes TruTemp Equipment building

TruTemp

LGE Design Build has recently completed construction of a new 32,500-square-foot office/warehouse building for TruTemp Equipment, the largest wholesale food service equipment distributor in the Southwest. TruTemp’s building is located at 4010 E. Raymond St. in Phoenix within the Pinnacle Business Park. TruTemp outgrew its previous location for the third time in the past 12… Read More →

Gilbert office project sees complete turnaround

The Forum

CBRE has announced eight new office leases totaling 51,442 square feet at The Forum at Gilbert Ranch in Gilbert, Arizona. The five-building 92,440-square-foot office complex is now 64.4 percent leased after standing virtually empty since 2009. Built in 2009, the original developer was forced to return the property to the lender during the recession. The… Read More →

Buchanan Street buys 200K SF Scottsdale building

123rf.com: feverpitched

Buchanan Street Partners has purchased Paradise Valley Corporate Center, a 198,000-square-foot office building at 4835 East Cactus Road in Scottsdale, Arizona. The acquisition increases Buchanan Street’s real estate investment holdings in the Greater Phoenix area to more than 1 million square feet as the firm continues to expand its Arizona portfolio. Terms of the sale were not disclosed. “We continue… Read More →

Hool Coury Law expands lease at Biltmore Financial Center

Biltmore Financial Center

Hool Coury Law, a Phoenix law firm that helps entrepreneurs launch start-ups, has expanded its offices to nearly 5,000 square feet at the Biltmore Financial Center, adding new space adjacent to its existing offices for meetings with its client entrepreneurs and to facilitate meetings with investors and clients. Hool Coury Law assists entrepreneurs and investors… Read More →