Retail Archives

California-based buyer acquires Thunderbird Village for $12.5M

by in AZRE Magazine | Brokerage | Retail

Brokers from LevRose Commercial Real Estate closed the sale of Thunderbird Village in Peoria for $12.5 million. Located at 7518 W. Thunderbird Road, the 82,099 square-foot building includes a 90 percent leased retail center. California-based company, Deerwood Retail Opportunities AZ, LLC, purchased the property from CAZCO Asset Management Inc. The brokers for the buyer were… Read More →

Fenix Development breaks ground on Tempe project

Fenix Development, a Los Angeles-based real estate investment and development company, has broken ground on Phase I of The Watermark | Tempe at the north bank of Tempe Town Lake. Phase I, of the 1.9 million-square-foot mixed-use development, will include 250,000 square feet of premium Class A office space, 44,000 SF of high-end restaurant and boutique retail service… Read More →

Check out progress of Arizona Center’s $25 million renovations

Arizona Center
by in AZRE Magazine | Construction | Retail

The $25 million Arizona Center renovations have made some progress and we’ve got photos of the recently completed areas. Developers completed work on the lobby and tenant amenities floor of the One Arizona Center building at the Arizona Center. Click on the slideshow to view the photos in fullscreen   Provided photos The renovations at… Read More →

Vestar secures $8.67M financing for recently acquired retail center

by in AZRE Magazine | Retail

Vestar, one of the leading privately held real estate companies in the western United States, announced today that it has secured a 15-year permanent loan with the Lincoln National Life Insurance Company in the principal amount of $8,673,000 for the recently acquired Twin Creeks Marketplace. The 43,134-square foot grocery-anchored neighborhood center is located at 1265… Read More →

New pair of self-storage facilities receive $13M in construction financing

Cohen Financial, a division of SunTrust Bank and a national real estate capital services firm, announced today that it has arranged $13 million construction financing with a regional bank to develop two self-storage properties in the Greater Phoenix. Both properties are multi-level and 100 percent air-conditioned. Kevin Sellers, director of capital markets in the Cohen… Read More →

Scottsdale approves retail portion of $2 billion Ritz-Carlton project

$2B Ritz-Carlton Project
by in AZRE Magazine | Construction | Retail

The Scottsdale and Paradise Valley area will be getting a little more luxurious, as the City of Scottsdale unanimously approved the luxury retail and dining location that will be the sister community of the $2 billion Ritz-Carlton master-planned community. The retail center, The Palmeraie, is a 160,000-square-foot high-end, mixed-use space on 18 acres at Scottsdale and… Read More →

Blue 32 Sports Grill completes 4th location in Chandler

Blue 32 Sports Grill
by in AZRE Magazine | Retail

The ownership team of Blue 32 Sports Grill continued its business plan of expansion by engaging a pair of locally owned companies to design and construct its fourth location, bringing life to a Southeast Valley corner that has been a blight for Chandler residents. Scottsdale-based firms Sigma Contracting and DPA Architects collaborated on the 4,000-square-foot restaurant… Read More →

Casa Grande retail center sells for $4.45M

Casa Grande
by in AZRE Magazine | Retail

A two-tenant retail center in Casa Grande sold for $4.45 million to Amir Fateh Amirian by an entity formed by the Hinkson Company LLC, according to CBRE who represented the sellers in the transaction. The 45,327-square-foot retail center is home to a Dollar Tree and Mor Furniture For Less at 1314 E. Florence Blvd., in… Read More →

17 retailers expecting to close stores this year

by in AZRE Magazine | Retail

Online shopping has been a force of change in the retail world, which has stirred many places to start redesigning and redeveloping to bring in more customers. There’s been news about many retailers closing around the Valley and the nation, but Phoenix has been seeing healthy leasing activity recently. Still, national retailers are closing doors,… Read More →

At Home will anchor San Tan Pavilions

San Tan Pavilions
by in AZRE Magazine | Retail

The San Tan Pavilions shopping center in Gilbert will be anchored by a home décor superstore, At Home, according to an announcement from the project developers. This will be the sixth At Home location in Arizona and will offer both in-home and outdoor furniture. At Home is stocked with quirky, traditional, modern and exotic home furnishings, and… Read More →

Report: 2016 gross retail lease activity beats out 2015

by in AZRE Magazine | Retail

CBRE Research released its Q4 2016 Phoenix Retail MarketView and Big Box reports, and overall the Valley’s retail market performed well to close out the year. Top-level highlights included: Overall market fundamentals & general leasing activity: Q4 was highlighted by roughly 600,000 square feet of positive net absorption, which was the greatest amount of any… Read More →

$25M downtown Chandler retail destination to open in December

Downtown Chandler
by in AZRE Magazine | Retail

Now that there’s a signed agreement in place, a 77,000-square-foot retail and dining project in Downtown Chandler is planned to open its first phase in December 2017. The $25 million project, dubbed Overstreet, will be anchored by Flix Brewhouse, a feature film theater with an in-house microbrewery, and will be built on the southwest corner of… Read More →

29,219 SF Cave Creek Plaza sells for $2.55M

Cave Creek Plaza
by in AZRE Magazine | Retail

The Cave Creek Plaza was sold for $2.55 million by PWDAF Bell and Cave Creek LLC to DMC Investments LLC, according to the brokerage firm that worked on the deal. The 21,219-square-foot retail shopping center located at 16806-16872 N. Cave Creek Rd. & 2301-2313 E. Bell Rd. was initially built in 1978. The plaza is shadow-anchored… Read More →

Tucson Raising Cane’s sells for $4.15M

Tucson Raising Cane's
by in AZRE Magazine | Retail

Tucson’s first Raising Cane’s location was sold for $4.15 million to Leal 2002 Family Trust by Phoenix-based Eisenberg Company, according to brokers who worked on the deal. The property is located at 6352 E. Broadway Blvd. in Tucson, and the sale was a record low CAP rate for a Raising Cane’s in Arizona. The single-tenant… Read More →