Office Archives

CBRE completes sale of $39M office project

park one
by in AZRE Magazine | Office

Velocis, a private equity real estate fund, purchased Park One, a three-building, multi-tenant, Class A office development totaling 205,000 square feet in the Camelback Corridor in metropolitan Phoenix. A team of brokers including Barry Gabel, Chris Marchildon, and Kevin Shannon represented the seller, a joint venture between California-based McCarthy Cook & Co. and New York-based… Read More →

Report: Tightened Class A Office Activity is Driving Class B Activity

Phoenix
by in AZRE Magazine | Office

The Phoenix office market experienced a rise in leasing activity, high net absorption and increased rental rates according to second quarter reports. As Class A space fills in some of the most desired corridors of the city such as Camelback Corridor, companies are turning to Class B space in new corridors like Phoenix Midtown to… Read More →

Report: Phoenix offices making biggest gains since 2006

Photo: eutoch / 123RF Stock Photo
by in AZRE Magazine | Office

A Cushman & Wakefield report showed the Metro Phoenix office market posted the largest midyear net gain since 2006, with just over 1 million square feet during second quarter 2016. At the 2016 midyear point, office vacancy in the Metro Phoenix office market stood at 18.0 percent, a 20-basis-point reduction from first quarter 2016, and an even more significant… Read More →

Tenant demand shows signs of cooling, report says

tempe
by in AZRE Magazine | Office

A recent report released by Cushman & Wakefield Thursday revealed tenant demand for U.S. office space slowed in the first half of the year as businesses recalibrate and react to global economic uncertainty. Despite the deceleration, vacancy remained steady and rents jumped to the strongest growth rate in seven years. The U.S. office sector absorbed 14.7… Read More →

ViaWest Group sells Phoenix offices for $5.98M

UEI College
by in AZRE Magazine | Office

Cushman & Wakefield announced today that 9215 N. Black Canyon Highway in Phoenix sold by ViaWest Group for $5.98 million. Located in the Northwest Phoenix submarket, 9215 N. Black Canyon Highway is a two-story, 38,086 sf office building. At the time of sale the building was 100% leased to UEI College, which offers specialized, short-term focused… Read More →

LGE Design Build finishes office upgrades for software firm

LGE Design Build
by in AZRE Magazine | Construction | Office

LGE Design Build completed construction on tenant improvements at a 6,000-square-foot Chandler office building for SixthDivision, a software and small business consultant. SixthDivision moved into the new building at 2490 S. Gilbert Road, near Loop 202 and Gilbert Road, to accommodate its growth. The new building features a large training room, about twice the size of its… Read More →

KBS REIT III renews lease at Anchor Centre

Anchor Centre
by in AZRE Magazine | Brokerage | Office

KBS Real Estate Investment Trust III (“KBS REIT III”), a non-traded real estate investment trust based in Newport Beach, California, announced the renewal of a 16,194-square-foot lease by Northwestern Mutual, a financial planning company, at Anchor Centre. The Class A, two-building office complex totals 333,014 square feet and is located in Phoenix’s Camelback Corridor. Northwester Mutual’s… Read More →

North Scottsdale office portfolio sells for $122M

Scottsdale
by in AZRE Magazine | Office

A North Scottsdale Class-A office portfolio was sold by its developers for $122 million to a Phoenix-based property company. Wentworth Property Company purchased the 640,000 square-foot portfolio from Desert Troon Companies with plans to renovated the offices, and add two parking garages to the area, according to Cushman & Wakefield. The 640,000 square-foot office portfolio is… Read More →

Colliers goes collaborative with workspace renovations

Colliers
by in AZRE Magazine | Office

Colliers International in Greater Phoenix recently completed an office renovation at the Biltmore Financial Center, creating an inviting open concept that fosters collaboration and creativity, increases efficiency and enables brokers to better serve clients.   Photos courtesy of Colliers International Colliers held visioning sessions and conducted internal surveys during a two-year comprehensive workplace strategic review… Read More →

CBRE will market mixed-use Block 23 project

Block 23
by in AZRE Magazine | Office

CBRE will be marketing the three-story, 155,000 square-feet office portion of Block 23 at CityScape, the mixed-used project being developed by RED Development in downtown Phoenix. The property, located at the southeast corner of Washington and First Streets, is referred to as Block 23 because of its location in the original city plan. Jerry Roberts and… Read More →

Versant Capital Management is relocating office

Deal, WEB
by in AZRE Magazine | Office

Versant Capital Management, Inc. is moving its corporate office to a new space in Phoenix, near 24th Street and Camelback road. Versant will now occupy a large office suite at the Biltmore Financial Park in the Fennemore Craig building. Versant’s new offices at 2394 E. Camelback Rd., Suite 100 plan to bring improved client service, new… Read More →

Superstition Corridor property sells for $4.9M

Superstiiton Corridor
by in AZRE Magazine | Brokerage | Office

Strong recovery in the Superstition Corridor contributed to this week’s $4.9 million sale of Inverness Commons II, a value-add office asset represented by the Phoenix office of JLL. The 60,960 square-foot building sits within one mile of the U.S. 60 Superstition Freeway and in the heart of the Superstition Corridor, a submarket that over the past… Read More →

Fiesta Tech Center sells for $4.7M

Berkadia
by in AZRE Magazine | Brokerage | Office

Caliber, The Wealth Development Company closed, Wednesday, on the 42,111 square-foot Fiesta Tech Center located in Gilbert. The technology-centric office building was purchased at $4.7 million resulting in Caliber’s largest commercial real estate property to date. The property is located in Gilbert, which is the fastest growing technology employment area in the state featuring major employers… Read More →

Women-focused Building 313 will break ground

Building 313
by in AZRE Magazine | Office

Gilbert’s first women-focused mixed-use building, Building 313, is officially under development and a groundbreaking ceremony is scheduled for Tuesday, June 7 at 8:15 a.m. The $3.3 million project, named Building 313, will be a 15,602 square-foot owner-occupied mixed-use space in the Heritage District of downtown Gilbert. Owner and visionary Lynne King Smith, a Gilbert-based entrepreneur… Read More →