Office Archives

Camelback Corridor office building sells for $42.6 million

Camelback Corridor
by in AZRE Magazine | Office

A Class A 175,835-square-foot office building in Phoenix’s Camelback Corridor area sold for $42.6 million, or approximately $242 per square foot, according to CBRE. The office complex is located at 5090 N. 40th St., and Jim Fijan and Will Mast with CBRE’s Phoenix office negotiated the transaction. The seller was a joint venture between Lowe Enterprises and J.P.… Read More →

Corporate Center returns to market for resale with full occupancy

Corporate Center is a 2-story, Class-A office building located in the heart of the Metrocenter submarket, alongside Interstate 17. (Photo by Cohen Equities)

Cohen Equities acquired Corporate Center in January of 2016 with 50-percent vacancy and has brought the property to full occupancy in under a year. Now it plans to resell the asset. The national real estate investment firm pursues commercial assets that present an opportunity to add value in both secondary and gateway markets. After bringing the… Read More →

SkySong signs MindBody to large space in new building

SkySong
by in AZRE Magazine | Office

SkySong, The ASU Scottsdale Innovation Center is getting another new innovative tenant — one that will take up a big chunk of the newest office building at the project. MindBody, a provider of cloud-based business management software for the wellness services industry, signed a long-term lease to occupy 28,229 square feet of SkySong 4, which is now almost 50 percent leased with… Read More →

Class A Scottsdale office complex sold for $28.5M

Class A Scottsdale Office
by in AZRE Magazine | Office

Private equity fund management firm, Equus Capital Partners Ltd., sold the Scottsdale Financial Center in Scottsdale for $28.5 million. The 107,000 square-foot class-A office building was sold to the Alternative Investments & Manager Selection (AIMS) Real Estate Group, a business unit within Goldman Sachs Asset Management, and was 93 percent leased at the time of sale. Scottsdale… Read More →

Parallel acquires Class A Scottsdale office complex for $20M

Kierland Corporate Center is a Class A office complex spanning 78,273 square feet on 3.4 acres. (Photo courtesy of Parallel Capital Partners)
by in AZRE Magazine | Office

Adding to its growing Arizona portfolio, San Diego-based Parallel Capital Partners acquired Kierland Corporate Center – a Class A office complex at 7033 E. Greenway Pkwy. in Scottsdale – for $20 million. Cushman & Wakefield represented the seller and JLL represented Parallel in the deal. Spanning 78,273 square feet on 3.4 acres, the property – acquired from Bataa/Kierland II, LLC –… Read More →

Insight Global signs 12,460 SF lease in Phoenix

24th At Camelback II (Photo courtesy of Hines)
by in AZRE Magazine | Office

Hines, the international real estate firm, negotiated a 12,460-square-foot lease at 24th at Camelback II in Phoenix for Atlanta-based staffing services firm Insight Global. Insight Global will occupy the eighth floor of the 11th-story Class A building, which offers abundant glass exposure and mountain views, beginning in early 2017. Hines is developer, owner and property manager of the 306,877-square-foot building… Read More →

Burns & McDonnell moves to Central Arts District to accommodate growth

Burns & McDonnell
by in AZRE Magazine | Office

After growing locally by 300 percent since 2012, Burns & McDonnell is relocating its 90-person office to the Central Arts District for its expanding workforce. The 100 percent employee-owned global engineering, architecture, construction, environmental and consulting firm sees continued expansion, nearly doubling in size in the next few years. “Our clients and their projects have allowed us… Read More →

CBRE selected to lease Tucson’s tallest building

Tucson's tallest building

CBRE has been chosen to oversee the leasing of space at One South Church, the tallest and most recognizable building in Tucson. Located at 1 S. Church Ave. in Tucson, the 240,811-square-foot Class A office space offers a wide spectrum of flexible leasing options for tenants ranging in size from 1,000 square feet to over 40,000… Read More →

Liberty Property Trust fills nearly finished Rio Salado office

1930westriosaladopkwy
by in AZRE Magazine | Office

Liberty Property Trust today announced that it has executed two new leases, filling its nearly complete 135,663 square foot speculative office building at 1930 West Rio Salado Parkway in Tempe. DriveTime Automotive Group, an existing tenant in 1720 West Rio Salado Parkway at Liberty Center at Rio Salado, will expand into 65,889 square feet of… Read More →

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

Photo by Gensler | Ryan Gobuty
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.

green-pic
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 →