Retail Archives

CBRE: Big box leasing activity fuels Phoenix retail market

by in AZRE Magazine | Retail

CBRE Research has released its Q2 2017 Phoenix Retail Market View and Q2 Phoenix Retail Big Box Report, and healthy levels of positive net absorption, steady big box leasing activity and a notable decline in the market-wide vacancy rate all point to a strong retail market in the second quarter of 2017.  “With steady job… Read More →

Texas-based Varsity Tavern joins Mill Avenue lineup

by in AZRE Magazine | Brokerage | Retail

NAI Horizon negotiated a long-term lease for Texas-based Varsity Tavern at 501 S. Mill Ave., in Tempe. The NAI retail properties team of Senior Vice Presidents Shelby Tworek, Chris Gerow and Gabe Ortega and Associate Patrick Anthon represented the tenant, Ipsum Creative LLC of Tempe, in the transaction totaling $2.641 million. Varsity Tavern will occupy… Read More →

HFF arranges $171M financing for 13-property multi-state portfolio

by in AZRE Magazine | Finance & RE Law | Retail

Holliday Fenoglio Fowler, L.P. (HFF) announced today that, on behalf of Westwood Financial, it has arranged $171 million in first lien financing for a portfolio comprising 13 multi-tenant retail centers totaling 1,050,350 million square feet in Arizona, California, Florida, Georgia, Illinois, North Carolina and Texas markets. HFF worked on behalf of the borrower, Westwood Financial,… Read More →

DSW buys Mesa Grand, Mesa Spectrum for $42.9M

by in AZRE Magazine | Retail

DSW Mesa Grand/Spectrum acquired Mesa Grand and Mesa Spectrum shopping centers located on Stapley and Baseline Roads at US Highway 60 in Mesa, Arizona for $42.9 Million from Vestar Arizona LLC.  Tucson-based DSW Commercial Real Estate with investment partner Iridius Capital, purchased the well-positioned “Daily Use and Entertainment” center, which encompasses approximately 233,130 square feet… Read More →

Amazon’s Whole Foods purchase may mean more brick-and-mortar retail options

Whole Foods
by in AZRE Magazine | Retail

Amazon’s recent acquisition of Whole Foods has prompted a new outlook on the classic brick-and-mortar structure. Online stores are now more actively seeking to gain presence in brick-and-mortar stores just as brick-and-mortar stores are seeking to have a bigger presence online. Amazon’s $13.7 billion purchase of Whole Foods shows an e-commerce giant that is willing… Read More →

Scottsdale Fashion Square unveils plans for major makeover

Scottsdale Fashion Square
by in AZRE Magazine | Retail

The renovations at Scottsdale Fashion Square show a mall willing to continue to provide the experiential retail experiences of the future, as malls across the nation close down, or renovate in hopes of attracting non-retail users.  “(Scottsdale Fashion Square) is very well leased with an occupancy of just about 97 percent,” says Kim Choukalas, vice president of leasing for Macerich, the… Read More →

Report: Phoenix’s retail sector slows in second quarter

by in AZRE Magazine | Retail

Absorption of retail real estate in Greater Phoenix slowed during the second quarter, but investors were busy purchasing retail properties. The mid-year retail research report released by Colliers International in Greater Phoenix forecasts improvement in the retail sector for the second half of 2017. Vacancy remained flat at 9.3 percent in the second quarter and net absorption… Read More →

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 →