Office Archives

LGE, Revelation Real Estate team up on $5M project

The $5 million mixed-use project planned for Revelation Real Estate broke ground today at 2301 South Stearman Drive, Chandler, AZ 85286.
by in AZRE Magazine | Construction | Mixed-Use | Office

LGE Design Build broke ground today on a massive $5 million mixed-use project for Revelation Real Estate in Chandler. Revelation Real Estate sets the gold standard when it comes to offering top-notch residential properties and employing the Valley’s most award-winning professionals, and LGE Design Build, too, sets the bar when it comes to designing and… Read More →

Take a Look: Oscar’s New Space at The Circuit

(Photos courtesy of Ryan Wilson Photography)
by in AZRE Magazine | New to Market | Office

Insurance company moves in this month to true adaptive re-use project New York-based insurance company Oscar has officially moved into The Circuit in Tempe, and is gearing up to take full advantage of its 90,000 square feet of true creative office space. The Circuit was purchased and redeveloped in 2014 by a joint venture between EverWest… Read More →

Camelback Corridor redevelopment property sells for $17M

Camelback Collective rendering (Courtesy of CBRE)

Obsolete Office Project Slated for Redevelopment into High-end Mixed-use Project  A prominent ±3.62 acre infill, redevelopment site located in the prestigious Camelback Corridor area of Phoenix has sold for $17.475 million, or $111 per sq. ft. of land. The property, located at 2801 and 2845 E. Camelback Road, was acquired by a joint venture of… Read More →

Phoenix ranks No. 20 among top green office markets in U.S.

by in AZRE Magazine | Office

Institutional owners of office buildings continued to pursue green building certifications in the 30 largest U.S. markets during 2015. Phoenix ranked No. 20 out of the 30 office markets analyzed for the green office study. Phoenix’s ranking slipped two spots from the previous year, and the square footage percentage of green space slipped from 30.4… Read More →

U.S. office market continues to tighten, but at a slower pace

Office Trends, Business Saving Space
by in AZRE Magazine | Office

U.S. office markets continued to gradually tighten in the third quarter of 2016 Cushman & Wakefield announced Thursday. That tightening reflects the more moderate pace of job growth, which has slowed from the strong rate of the previous two years. Net absorption of office space totaled 13.2 million square feet (msf) in the quarter, down… Read More →

Galleria offers relief for Downtown Scottsdale office market

by in AZRE Magazine | Office

The Galleria, an office complex in Downtown Scottsdale, just got a little roomier. The property has newly available space that will offer relief to an office market that is currently the tightest in the metro Phoenix area. Galleria can now accommodate users with requirements greater than 50,000 square feet. This new availability at the office project marks… Read More →

The Grand at Papago Park Center launched in Tempe

The Grand at Papago Park
by in AZRE Magazine | Office

The Grand at Papago Park Center, the final parcel still to be developed within one of the largest business parks in Arizona, was unveiled Monday at an opening celebration hosted by Salt River Project. The total project, a 58-acre, high-profile, urban mixed-use property on the last developable parcel within the 350-acre Papago Park Center in the… Read More →

Trends to watch in 5 commercial real estate markets


It’s that time of year again when commercial real estate firms analyze market activity based on numbers and reports from the first two quarters of the year, and predict how that will impact the rest of 2016 through next year. Experts in their respective markets weighed in on the findings from quarter two reports in… Read More →

CBRE negotiates $40.4M sale of Four Gateway

Phoenix offices
by in AZRE Magazine | Brokerage | Office

VanTrust Real Estate, LLC sold a single-tenant office building, occupied by American retail and health care company CVS Health, for $40.4 million, or approximately $293 per square foot. The building, Four Gateway, is located at 444 N. 44th Street in Phoenix. The buyer is Crown Realty & Development. Jim Fijan and Will Mast of CBRE… Read More →

Tucson Raytheon Missile Systems flex building sells for $10.5M

Raytheon Missile Systems
by in AZRE Magazine | Office

Lee & Associates facilitated the sale of a 72,000-square-foot former Raytheon Missile Systems flex office building at 3360 E. Hemisphere Loop, Building M10, Tucson for $10,500,000. Price-per-square-foot was calculated at $145.83. Lee Principals Jerry Marrell and Dave Johnson negotiated on behalf of DCG IV, LLC, a Seattle-based investment firm. Lee Principal Pete Batschelet procured the buyer, 3360… Read More →

Pharma firm leases 30KSF in Scottsdale

7400 E. Tierra Buena Ln.
by in AZRE Magazine | Office

Cushman & Wakefield announced today that West Pharmaceutical Services, Inc. leased approximately 30,500 square feet (SF) at 7400 E. Tierra Buena Lane in Scottsdale, Ariz. Cushman & Wakefield Executive Director Jim Wilson represented the tenant in the lease negotiations. The landlord, GH Scottsdale I, L.L.C. in partnership with Hewson Development Corporation, was represented by Mark Linsalata… Read More →

The Money Source leases offices, plans to hire 250

The Money Source
by in AZRE Magazine | Office

The Money Source subleased approximately 20,000 square feet of Class A office space at 2355 E. Camelback Rd. This marks the company’s second office lease in Phoenix during 2016. “The Money Source is committed to attracting and retaining the best employees in the Valley and plans to hire approximately 450 employees this year in Metro Phoenix,”… Read More →

Nearly 20 KSF of office leases signed at Westgate

Westgate entertainment district
by in AZRE Magazine | Office

This week, Westgate Entertainment District signed leases for close to 20,000 square feet of office space to three businesses that will open at the Glendale mixed-use center by the end of the year.  Harvard Drug Group, a pharmaceutical sales, manufacturing and distribution company, originally opened at Westgate in 2013 with a 4,937 square-foot office to accommodate… Read More →

New Jersey-based Cenlar FSB leases Tempe offices

Cenlar FSB
by in AZRE Magazine | Brokerage | Office

Cushman & Wakefield negotiated the lease for New Jersey-based Cenlar FSB, which took up an approximately 41,757-square-foot office at Warner Courtyards, located at 301 W. Warner Rd. in Tempe, Ariz. The landlord is Warner Courtyards, LLC; HRA Warner Courtyards, LP; Park 3020, L.L.C. and Park 3030 L.L.C. Cenlar’s expansion to Tempe comes in response to rapid growth… Read More →