Retail Archives

Fundrise funds Starbucks-anchored center in Tempe Sergey Kohl

Fundrise (, the country’s first platform for online real estate investment, announced that it has provided Birtcher Anderson Realty $3.1 million in construction financing for a Starbucks-anchored retail development in Tempe, Arizona. Jay Maddox of commercial real estate services company, Avison Young, arranged the transaction, which is quite possibly the first-ever crowdfunded commercial construction loan.… Read More →

New to Market: September-October 2015

Capital Place, Downtown Phoenix

Hospitality The Algarve at Encanterra Country Club Developer: Shea Homes General Contractor: A.R. Mays Construction Architect: H & S International Location: 1035 E. Combs Rd., San Tan Valley Size: 60KSF Value: $3M Start/Completion: June/December 2015 Hospitality L’Auberge de Sedona Developer: L’ Auberge Newco, LLC, a Delaware Limited Liability Company General Contractor: A.R. Mays Construction Architect: PHX Architecture Location:… Read More →

SRS executes multiple leases for 18|8 Fine Men’s Salon

Photo courtesy of 18|8 Fine Men’s Salon Facebook

SRS Real Estate Partners (SRS) announced that 18|8 Fine Men’s Salon has recently leased more than twenty locations in multiple markets across the U.S. including Boston, Chicago, Denver, Portland, Seattle, San Antonio and Minnesota. Three new leases have been executed in metro Phoenix, spaces range from 1,280-1,651-square-feet. 18|8 men’s haircare and grooming salons are the… Read More →

Rancho Encanto shopping center sells for $8 Million

Rancho Encanto

Cushman & Wakefield, a global leader in commercial real estate services, announced the sale of Rancho Encanto, a grocery-anchored neighborhood shopping center at 3434 W. Greenway Road in Phoenix on behalf of the seller, Weingarten Nostat, Inc. of Houston. Los Angeles-based Massco Investments, LLC purchased the 70,859 square foot property for $8 million. Cushman & Wakefield… Read More →

Redevelopment to bring two new restaurants to Phoenix


Wetta Ventures has purchased a retail building on the southeast corner of Indian School Road and 28th Street in Phoenix, which will be leased by two restaurants as part of an adaptive reuse project. Originally built in the late 1950s, Maple House Furniture currently occupies the 11,000 square-foot building that will be creatively redeveloped and renovated… Read More →

NAIOP retails it like it is

Arm and shopping bags_8949825_xl

NAIOP, a commerical real estate development group, has historically focused on industrial and office sectors. However, the national organization is extending its membership benefits to more obviously include retail developers and similar commercial professionals. “The organization really started shifting gears more than 10 years ago,” says Thomas Bisacquino, CEO of NAIOP. “It was in 2005… Read More →

Former Nimbus Brewery building sold for more than $1.4M

Craft beer
August 30, 2015 by in AZRE Magazine | Brokerage | New to Market | Retail

CBRE has completed the sale of the former Nimbus Brewery and Restaurant building at 6464 E. Tanque Verde Road in Tucson. The property commanded a sale price of $1.415 million, or $168 per square foot. Pete Villaescusa and Jesse Peron with CBRE’s Tucson office negotiated on behalf of the seller, McMahon Properties, LLC of Tucson.… Read More →

Three national restaurant users coming to Las Plazas at Old Vail


Las Plazas at Old Vail, a 17-acre retail development at the northwest corner of Houghton and Old Vail Roads in Southeast Tucson, has landed its first wave of restaurant users. CBRE has recently completed the sale of the first three lots and the development will soon be home to a Taco Bell, Native Grill and… Read More →

LGE completes Pomo at Gilbert’s Heritage Marketplace


LGE Design Build has completed tenant improvement construction for the 2,600-square-foot Pomo Pizzeria Napoletana at Heritage Marketplace in Gilbert. The restaurant features a 6,000-pound, wood-fire pizza oven imported from Italy with hand-crafted stone. In addition, the authentic Italian restaurant features a bar and outdoor seating. “As one of the restaurant hotspots in the Valley, Heritage… Read More →

Meridian Capital finances Glendale Market Square property


Meridian Capital Group, America’s most active debt broker, negotiated a $21.1 million loan for the acquisition and rehabilitation of Glendale Market Square, a retail property located in Glendale, AZ on behalf of a Southern California-based developer. The three-year loan, provided by a debt fund, features a floating-rate, interest-only payments for the full-term and two one-year… Read More →

Uptown Plaza welcomes Muse Apparel as their first new tenant

Photo by Vintage Partners

Uptown Plaza, the landmark shopping center at the intersection of Central Ave. & Camelback Rd., has announced the grand opening of its first new tenant, Muse Apparel, since kicking off a wall-to-wall renovation in mid-2014. Opening just in time to celebrate Uptown Plaza’s 60th Anniversary tomorrow, August 25, 2015, this popular 10-year-old local women’s clothing boutique recently relocated… Read More →

CBRE Capital Markets Debt Team completes two transactions


Walgreen’s drug store in Smithtown, New York CBRE’s Capital Markets Debt and Structured Finance team has arranged $7.8 million in acquisition financing for a triple-net-leased Walgreen’s drug store in Smithtown, New York. The asset commanded a sale price of $10.4 million. Geoffrey Harris of CBRE’s Phoenix office arranged a 75% LTV bank loan, 10-year fixed… Read More →

P.B. Bell adds four properties to management portfolio


P.B. Bell, a leader in multi-family housing development, management and acquisitions, has added four properties to its growing management portfolio.  The additions expand P.B. Bell’s reach in the East Valley with properties in Gilbert, Tempe, Old Town Scottsdale and North Scottsdale. “Our goal is to maximize the resident experience at every apartment community we manage,… Read More →

ABA Project Profiles: Arizona’s Finest

Arizona Cancer Center

Arizona Builders Alliance is a partnership between the Arizona chapters of the Associated Builders & Contractors (ABC) and the Building Chapter Associated General Contractors (AGC). It represents more than 250 contractors, suppliers and professional service firms in the commercial construction industry. Here are spotlight projects its members have been working on this year. Airport I-10… Read More →