Retail Archives

Casa Grande retail strip sells for $1.8M

Casa Grande
by in AZRE Magazine | Brokerage | Retail

A multi-tenant retail strip center in Casa Grande sold for $1.8 million to SimonMed Imaging, accoriding to Commercial Properties Inc./CORFAC International (CPI). Mike Sayre of Cushman Wakefield represented the buyer, SimonMed Imaging, and Sarge Glenn of CPI’s Industrial Team represented the seller, LBUBS 2004-C8 Retail 1664 LLC. The property is located at 1664 E. Florence Blvd. in Casa… Read More →

Old Navy coming to Scottsdale Promenade

Old Navy
by in AZRE Magazine | Retail

Velocity Retail Group’s Darren Pitts and Dave Cheatham represented Old Navy (a division of Gap, Inc.), in a lease at the Scottsdale Promenade shopping center located at the southeast corner of Frank Lloyd Wright Boulevard and Scottsdale Road. The 11,008-square-foot store celebrated its Grand Opening on November 9, 2016. The shopping center is owned by an… Read More →

Wasson builds new retail center, demolishes iconic building

Wasson completed construction on a 13,000-square-foot retail building at Mesa Riverview housing tenants such as Fired Pie, Aspen Dental, Starbucks, Menchie's Frozen Yogurt and Mattress Firm.
by in AZRE Magazine | Construction | Retail

For Mesa-based Wasson Commercial Contracting, it’s in with the new and down with the old at two construction sites in the Valley. Wasson completed construction on a 13,000-square-foot retail building at the NEC of Dobson and Bass Pro Drive at Mesa Riverview. As that project was going up, Wasson was salvaging the building that once… Read More →

Report: retail to have strong 2016 finish after cool summer

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

The Greater Phoenix retail market experienced a cooling effect over the summer months of third quarter with net absorption slowing and vacancy rising for the first time since 2014 , according to Colliers International’s retail report. Colliers International experts anticipate a strong finish for 2016 as fourth quarter retail picks up pace. Net absorption remained… Read More →

Arizona Center will get a $25 million makeover

Scheduled to break ground in early 2017, the project will take approximately nine months to complete.  (Rendering courtesy of Parallel Capital Partners and Angelo, Gordon & Co.)
by in AZRE Magazine | Retail

Arizona Center, Phoenix’s original downtown entertainment destination located at Third and Van Buren Streets, will undergo a significant transformation beginning early 2017. Acquired by Parallel Capital Partners and Angelo, Gordon & Co. in December 2015, the new Arizona Center will embark on a $25 million makeover in 2017. “The Arizona Center refresh will create a new model for… Read More →

Adaptive reuse project revitalizes Roosevelt Row Arts District

The Blocks at Roosevelt Row (Photo courtesy of Desert Viking)

A NEW DOWNTOWN PROJECT MERGES CHEF-DRIVEN DINING, ARTISAN RETAILERS AND WORKING ARTIST STUDIOS AND GALLERIES TOGETHER IN ONE COLLECTIVE SPACE ~The Blocks of Roosevelt Row Indulges Guests with a Place to Connect, Create and Collaborate~ Desert Viking Development is thrilled to announce a new project underway revitalizing a portion of the Downtown Phoenix’s beloved Roosevelt… Read More →

2 property retail portfolio sells for $72.5M

Tenants at La Mirada include the renowned Maestro’s Steak House, Walgreens, Starbucks, Jade Palace, Russ Lyon, Sotheby’s, and Pima Animal Hospital. (Photo courtesy of Lee & Associates)
by in AZRE Magazine | Brokerage | Retail

A two property Class A retail portfolio in Scottsdale, which includes Scottsdale Seville and La Mirada Shopping Center, sold for $72,500,000 million, according to Lee & Associates. The Fincham Dempsey Team at Lee & Associates, led by principals Jan Fincham and Pat Dempsey, facilitated the transaction along with Lee principals Craig Coppola and Andrew Cheney and… Read More →

North Scottsdale shopping center sells for $72.5M

Sonora Village
by in AZRE Magazine | Retail

The Fincham Dempsey Team at Lee & Associates brokered the sale of the Sonora Village retail shopping center for $72,500,000. The property is located at the southwest corner of Frank Lloyd Wright Boulevard and Loop 101 in North Scottsdale. Sonora Village is a Class A regional power and entertainment center built in 1986. The sale consists of 269,369… Read More →

Trends to watch in 5 commercial real estate markets

Phoenix

It’s that time of year again when commercial real estate firms analyze market activity based on numbers and reports from the first two quarters of the year, and predict how that will impact the rest of 2016 through next year. Experts in their respective markets weighed in on the findings from quarter two reports in… Read More →

Former RoomStore sells for $8.25M

RoomStore
by in AZRE Magazine | Brokerage | Retail

The former RoomStore furniture store at 15826 N. Scottsdale Rd., in Scottsdale sold for $8,250,000 or $263.00-per-square-foot. The company filed bankruptcy in December 2015 and closed all Arizona stores, including this location. Tom Boyle, principal with Lee & Associates, brokered the transaction. The buyer was Phoenix-based Bridge Enterprises LLC, Phoenix, and Scottsdale-based DJD Property Holdings LLC, was… Read More →

Retail gains momentum in southeast valley

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

Through the first half of 2016, the southeast Valley accounted for two-thirds of new retail product in the metro area, according to a recent MarketFlash report by CBRE’s Phoenix research team. As population growth occurs, new retail space is needed to meet demand from new residents. Currently, the southeast Valley is the most active new… Read More →

Retail pads are hot in Phoenix

homes
by in AZRE Magazine | Investment | Retail

It is not only the weather that is hot in Phoenix. Shopping center outparcels, also known as “pads” are sizzling hot. Presently there are nearly 200 outparcel properties under construction or proposed in the Phoenix metro area, according to CoStar, a leading commercial real estate information source. These proposed projects range in size from 2,500… Read More →

Scottsdale and Pinnacle Peak Roads retail center sold for $47M

Scottsdale
by in AZRE Magazine | Brokerage | Retail

JLL Income Property Trust, an institutionally-managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), acquired a newly built Scottsdale retail center for $47 million. Silverstone Marketplace is anchored by a Sprouts Farmers Market, and the 78,000-square-foot property is 100 percent leased to a variety of national and regional tenants with a weighted average remaining lease… Read More →

Vestar acquires Gilbert retail center for $17.96 million

by in AZRE Magazine | Retail

Phoenix-based real estate firm Vestar acquired Lakeview Village at Morrison Ranch, a 93,741-square-foot grocery-anchored neighborhood center in Gilbert for $17.96 million. Situated on 16 acres at the southeast corner of Higley and Elliot Roads, Lakeview Village at Morrison Ranch is leased to several national and regional retailers including Bashas’, Bank of America, Panda Express, Great Clips, UPS Store, H&R… Read More →