Office Archives

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 →

New to Market: May 2015-June 2015

Arizona Fallen Firefighters & Emergency Paramedics Memorial

Public Arizona Fallen Firefighters & Emergency Paramedics Memorial DEVELOPER: State of Arizona General Contractor: McCarthy Building Companies Architect: SmithGroupJJR Engineers: CVL and PK Associates Sculptors: Rusty Bowers; Paul Olesniewicz Location: Wesley Bolin Memorial Plaza VALUE: $1.25M in donations Start/Completion: March to October 2015 Subcontractors: American Fence, Gothic Landscaping, W.R. Grace, Brundage Bone, Sun Valley, Schuff… Read More →

Big Deals: Office/Sales, May 2015-June 2015

UNIVERSITY OF PHOENIX HQ, PHOENIX

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →

Amkor Technology celebrates grand opening

IMG_3276-Edit low res

Amkor Technology, a leading provider of semiconductor packaging and test services, joined Tempe Mayor Mark Mitchell, Ryan Companies US, Inc., ASU representatives and other community leaders to officially open the doors of Amkor’s new corporate headquarters today. Located in the Arizona State University Research Park (ASURP), the 101,949 square foot, two-story office building at 2045… Read More →

SAXA and Caliber partner for North Scottsdale office building

Scottsdale-based developer, SAXA, Inc. and Caliber Companies is partnering to develop and build a new 40,000 square foot Class-A commercial office building in North Scottsdale, Arizona. The 2.5-acre site, located within Horseman’s Park on the northeast corner of the Loop 101 freeway and south of Bell Road on Bahia Drive, will be the first new… Read More →

Wetta Ventures redevelops prime Camelback Corridor site

Wetta Ventures is redeveloping a prime piece of Camelback Corridor commercial space on the northwest corner of Camelback Road and 20th Street in Phoenix across from The Shops at Town & Country and Camelback Colonnade. Caldwell & Ober law firm currently occupies the 12,130 square foot, two-story building that will be redeveloped into retail and… Read More →