Property Management Archives

Practice Management Specialists relocates to Mesa


CBRE has announced the signing of a ±16,380-square-foot office lease at 4435 E. Holmes Avenue in Mesa, Arizona. Practice Management Specialists, a local business service provider for dental practices, will relocate its corporate headquarters to the newly leased building at the end of this year. Jamie Swirtz with CBRE’s Phoenix office negotiated the long-term lease… Read More →

Smoking butts out of multifamily business


For years it’s been known that smoking is bad for your health, and it has been subsequently banned inside of restaurants, offices and outside building entrances. With a the help of a grant from Maricopa County, the Arizona Multihousing Association wants to foster smoke-free programs at apartments as well. “The purpose of the grant is… Read More →

Desert Troon named 25-Year concessionaire of Scorpion Bay

Desert Troon

Desert Troon Companies, a Scottsdale-based real estate development and investment firm, is has announced that the Maricopa County Board of Supervisors has approved the transfer of the Concessionaire Management Agreement for Scorpion Bay Marina at Lake Pleasant Regional Park from Skipper Marine to Desert Troon Companies. The agreement names Desert Troon Companies as a concessionaire until 2040,… Read More →

U.S. office rents growing at fastest pace in 7 years fffranz

Despite the recent global volatility, tenant demand for U.S. office space remained strong in the third quarter of 2015 pushing rental rates up in three-quarters of the U.S. according to new research by Cushman & Wakefield. Preliminary data show that U.S. office markets absorbed 19.2 million square feet (msf) of office space in the third… Read More →

NAIOP Arizona’s Annual Roundtable

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NAIOP, a Commercial Real Estate Development Association, announced its decision to add retail to its foundation of office and industrial sector resources. This, among other topics, made it onto the table at the 2015 roundtable discussion held by leading members of the Arizona chapter. NAIOP-AZ members gather every year around a table, not necessarily a round… Read More →

Lincoln Property ranks #1 property manager for 2015


Lincoln Property Company (LPC) has been ranked as the number one property manager in 2015 according to Multi-Housing News’ top 50 listing. The ranking was based on self-reported property characteristics, quantity of leases, amount and size of communities under management, square footage, amount of property operations owned or managed, involvement in multiple property sectors, sustainability practices and… Read More →

Kimpton to open boutique hotel at One | Hundred | Mill

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Hayden House Tempe, LLC, a partnership between San Diego-based Douglas Wilson Companies (“DWC”) and Hensel Phelps Development LLC have signed a Hotel Operating Agreement with Kimpton Hotel & Restaurants to manage a new, luxury boutique hotel at One | Hundred | Mill in Tempe. The Hotel Operating Agreement between Hayden House Tempe, LLC and Kimpton Hotel… Read More →

AZRE Source: Sept./Oct. planning & zoning update

will bruder

City of Avondale The City of Avondale has created a $2 million fund to aid commercial and residential real estate developers offset the city’s own impact fees. The package produces a $2 million pool that developers can use to offset that cost for roads, parks, infrastructure and public safety needed for new projects. City of… Read More →

AZRE Source: Commercial land may go up in ‘smoke’

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One of the most talked about ballot initiatives this year has been the Arizona Marijuana Legislation Initiative. If it makes it onto the ballot and is approved by voters, the possession and consumption of marijuana would be legal for people 21 years old and older. A 15-percent tax would be levied on the sale of… Read More →

75th & Peoria Shopping Center gets new ownership and name


Capital Asset Management (CAM), Phoenix, teamed up with Cottonwood Equity, LLC, based in Salt Lake City, to purchase the 59,839 sq-ft 75th & Peoria Shopping Center located at the southwest corner of Peoria and 75th Ave. With this purchase, CAM and Cottonwood Equity will focus their efforts over the next six months on a considerable… Read More →

Sundt Construction increases focus on sustainability


Sundt Construction, Inc. recently expanded its commitment to sustainability with a corporate-wide initiative to effect a positive change on the environment, increasing its presence as one of the top green contractors in the nation. The company’s new environmentally focused charge is evidenced by the latest rankings from two of the industry’s leading construction publications – Engineering News-Record (ENR) and Building Design… Read More →

After 40 years, family sells redevelopment in Payson

Sold Sign

An era spanning over four decades of property ownership came to an end for three retired school teachers, which so happen to be sisters. The family owned and operated assorted businesses which had been previously used as a gas station and grocery store, operated by the parents, an ice store that was operated by the… Read More →

Ground breaks on 386,100 SF industrial project in Tolleson

First Industrial Rendering

Sun State Builders has broken ground on the First Industrial project in Tolleson, AZ. The 386,100-square foot cross dock distribution facility situated on 21.2 Acres will be complete by December of this year and will serve as the new home of Mattress Firm and other tenants. The Class A building will offer 36-feet clear height, K-25 ESFR,… Read More →

P.B. Bell earns top honors for safety


P.B. Bell, a leader in multi-family housing development, management and acquisitions, is being recognized for its commitment to safety.  For the eighth consecutive year, P.B. Bell has been included on CopperPoint Mutual Insurance Company’s exclusive “Best of the Best” list for its efforts to keep employees safe. The Phoenix-based CopperPoint Mutual Insurance Company, an advocate… Read More →