Office Archives

Biltmore Corporate Park sold for $7M

Biltmore Corporate Park
by in AZRE Magazine | Office

Biltmore Corporate Park office project at 6245 N. 24th St. has been sold to a local investor for $7,075,000. The new owner plans to modernize the multi-story building. “Biltmore Corporate Park is a prime example of an existing asset that has been well maintained and only requires a repositioning to capture its full potential,” says… Read More →

Lincoln buys 2777 Camelback for $24.65M

2777 Camelback
by in AZRE Magazine | Office

The Class A Camelback Corridor office property, 2777 Camelback, has been purchased for $24.65 million by Lincoln Property Company, according to a Friday announcement. The 104,618-square-foot building is located at 28th Street and Camelback Road, in a section of the Camelback Corridor undergoing a wave of new development. Chris Toci of Cushman & Wakefield served as the investment sales… Read More →

Lee & Associates negotiates 16,299 SF lease in Midtown Phoenix

Lee & Associates
by in AZRE Magazine | Office

CMOC International recently signed a 7-plus year, 16,299-square-foot office lease at 2600 Tower, 2600 N. Central Ave., Phoenix. Lee & Associates Associate Michael Marsh, Principals Craig Coppola and Andrew Cheney and Associate Gregg Kafka, negotiated the transaction on behalf of CMOC. JLL brokers represented the property ownership, Adler Realty Investments Inc. CMOC International is a worldwide… Read More →

CBIZ Plaza sells in Midtown for $26M

Cushman & Wakefield

A midtown office tower, near Central Avenue and Thomas Road, was sold to Houston-based Riva Ridge Development from Miami-based LNR Property Corporation for $26 million, which included fees assessed by an auction company, according to Cushman & Wakefield. The CBIZ Plaza is located at 3101 and 3111 N. Central Ave. in Phoenix, across the street… Read More →

Peoria Avenue office space sells for $10.55M

Peoria Avenue
by in AZRE Magazine | Office

Desert Canyon 200, a 98,761-square-foot office space located at 2421 W. Peoria Ave. in Phoenix, was sold to Scottsdale-based G2 Capital for $10.55 million, according to CBRE. The seller was REEF Desert Canyon LLC, managed by Seattle-based Washington Capital Management. Barry Gabel, Chris Marchildon, Jim Bayless and Ashley Brooks with CBRE’s Phoenix office represented the… Read More →

Report: Phoenix office market ends 2016 with ‘strong momentum’

Phoenix
by in AZRE Magazine | Office

CBRE Research released its Q4 2016 Phoenix Office MarketView report, and overall the Valley’s office market finished the year much the way it started – with strong momentum and healthy lease activity. Driven by improving economic fundamentals and steady job growth, demand from office users can be seen in the significant amount of net absorption… Read More →

Sky Harbor Towers redevelopment nearing completion

Sky Harbor Towers
by in AZRE Magazine | Office

The Muller Company, in a joint venture with investment firm Harbert Management Corporation, announced that the $20 million redevelopment of Sky Harbor Towers office complex is nearing completion of its first phase. The 13.6-acre, two-building office campus located at the intersection of Interstate 10 and State Route 143 is anticipated for move in this spring.… Read More →

Opendoor, Forward Tilt ink deals at The Quad

The Quad
by in AZRE Magazine | Office

The Quad, a fourteen-building, 166,606-square-foot office project in Scottsdale, has two new companies to add to its tenant roster. The creative, class A property will soon be home to San Francisco-based Opendoor and Scottsdale-based Forward Tilt. Opendoor will take an entire 12,546-square-foot building in Phase I of The Quad. The tech-based real estate sales platform… Read More →

2017 outlook: Getting creative with offices

by in AZRE Magazine | Office

For the office market, the latest trend is in spaces designed to be creative, collaborative and flexible. Newer developments emphasize flexible layouts, open spaces, upgraded common areas and amenities to create a more attractive work environment. The highest office rental rates for Class A office space are still found in the downtowns of Phoenix, Scottsdale… Read More →

5 myths about renewing your office lease

StartUp PHX Challenge
by in AZRE Magazine | Office

When renewing your office lease, there are some common myths floating around out there. Don’t fall for them. 1. MYTH: We have a great relationship with our landlord or landlord’s broker FACT: The landlord’s objective is to maximize profits and shift economic and non-economic risk to the tenant. The landlord’s advisor has a fiduciary obligation… Read More →

Report: Phoenix office absorption reaches 10-year high

Phoenix
by in AZRE Magazine | Office

Phoenix added millions of square feet of new office space in 2016, and companies filled that space at a near 10-year-high absorption rate, according to the Q4 2016 Phoenix Office Insight report released last week by the Phoenix office of JLL. Collectively, this activity improved the Valley’s office occupancy picture, pushing total vacancy rates down 120 basis points… Read More →

CoreNet Global Arizona to analyze creative office spaces

creative offices
by in AZRE Magazine | Office

CoreNet Global Arizona is hosting a January lunch focused on “Understanding the Creative Office” with a panel of experts at the Phoenix Country Club. The lunch and panel will be held on Thursday, Jan. 26, beginning at 11:30 a.m. The price is $35 for CoreNet Global Arizona members and $70 for non-members. Registration is available… Read More →

Renaissance Square sells for $151.25 million

Renaissance Square
by in AZRE Magazine | Office

A joint venture group purchased Renaissance Square, a two-tower office and retail plaza in Downtown Phoenix, for $151.25 million, a source close to the deal reported. In an announcement the new ownership group released Wednesday, future plans call for a $50 million upgrade to the office towers, with plans to update the lobbies, plaza and indoor/outdoor tenant conference center… Read More →

Building featured in Hitchcock’s ‘Psycho’ intro sold for $5M

Psycho intro
by in AZRE Magazine | Office

The historic Heard Building in Downtown Phoenix was sold to a California investment firm by One Twelve North Central LLC for $5 million, according to Cushman & Wakefield. Montana Avenue Capital Partners purchased the property, located at 112 N. Central Ave., in Phoenix. The Heard Building is an eight-story 65,531-square-foot historic office building on Central Avenue… Read More →