In The Spotlight Archives

SAXA and Caliber partner for North Scottsdale office building

Scottsdale-based developer, SAXA, Inc. and Caliber Companies is partnering to develop and build a new 40,000 square foot Class-A commercial office building in North Scottsdale, Arizona. The 2.5-acre site, located within Horseman’s Park on the northeast corner of the Loop 101 freeway and south of Bell Road on Bahia Drive, will be the first new… Read More →

Tiburon @ Chandler Airport breaks ground

DTZ has announced the ground breaking of Tiburon @ Chandler Airport. Tiburon Companies executives Michael Burton, Robert Burton and Dwayne Burton were joined by Mayor Jay Tibshraeny, Chandler City Council members Nora Ellen, Terry Roe and Jack Sellers along with their project team and other local leaders to celebrate the ground breaking of Tiburon @… Read More →

JLL leases Tempe 10/60 building to Freedom Financial

The Phoenix office of JLL has signed Freedom Financial Network, LLC (FFN) to lease one of two 45,000–square-foot buildings at Tempe 10/60 Corporate Center, a recently redeveloped office project in Tempe, Arizona. The lease will allow FFN to expand its neighboring Tempe operations within an efficient block of space to accommodate continued growth. Tempe serves as a secondary office… Read More →

Wetta Ventures redevelops prime Camelback Corridor site

Wetta Ventures is redeveloping a prime piece of Camelback Corridor commercial space on the northwest corner of Camelback Road and 20th Street in Phoenix across from The Shops at Town & Country and Camelback Colonnade. Caldwell & Ober law firm currently occupies the 12,130 square foot, two-story building that will be redeveloped into retail and… Read More →

Dan Mann launches 3engineering

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April 26, 2015 by in AZRE Magazine | Featured | In The Spotlight

In just over one year, young civil engineer, Dan Mann, PE, started a new multi-disciplined firm, takes office space in the Camelback Corridor and gains multiple clients in his area of specialization. Mann, who has been practicing civil engineering in Phoenix for more than 13 years, believes the success he has experienced in this short… Read More →

California investor buys Santerra Apartments for $5.8M

April 26, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

Santerra Apartments, a 128-unit multifamily complex at 3434 E. McDowell Rd., in Phoenix has sold to a California Investor for $5,807,500 or $45,371 per door. The sale closed, March 26th. Todd Braun, Principal at Lee & Associates negotiated the transaction for the sellers, Santerra Apts, LLC of Scottsdale and for the buyer, Dynamics Capital Group… Read More →

Irgens opens Portico Place II in Chandler

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Irgens officially opened Portico Place II, a 48,173 sf, two-story, Class A multi-tenant office building located at 2195 West Chandler Boulevard in Chandler, Arizona. Designed and developed to meet the growing demand for contemporary office space in the Southeast Valley, Portico Place II is the first speculative, multi-tenant office building of similar size developed in… Read More →

Clear Sky Capital purchases Gilbert

The Vintage

DTZ announced today that Clear Sky Vintage, LP (Clear Sky Capital, Marcus Kurschat – principal) purchased The Vintage, a 106-unit apartment community at 1303 West Juniper Avenue in Gilbert, AZ, for $14.25 million ($134,434 per unit). The seller was Vintage Gilbert, LLC (Matt and Sam Blank, Darryl Berger, Rustin Randal – principals). DTZ Executive Managing… Read More →

Black Rock RV Resort sells for nearly $4M

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The sale of the Black Rock RV Village located at 46751 E. Highway 60 in Brenda, AZ (near Quartzsite) sold April 2, 2015 for $3,925,000 to a California private investment firm.  John Grant and John Sheedy with Park Brokerage Inc. represented the buyer and the seller on the transaction. Black Rock is a winter, snowbird RV… Read More →

West Valley preps for commercial development

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Zone your acres, West Valley. The cranes are coming. About one year ago, appliance manufacturer Sub Zero bought an 11.5-acre land parcel at Palm Valley 303 (PV 303)​, the master-planned business park which sits at the confluence of Interstate 10 and Loop 303 in Goodyear, Ariz., from Sunbelt Holdings. It was the second tenant to… Read More →

Crown on 7th adds eateries and retail

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The former Crown Imports building on 7th St., between Missouri and Bethany Home in Central Phoenix, is getting a major facelift. Dan Noma, Jr., principal of Venture REI, has joined real estate development veterans Buzz Gosnell and Niels Kreipke in investing $6 million to redevelop the mixed-use project. The project will be renamed Crown on 7th and… Read More →

State Farm building sells for more than $22.9M

Four Gateway

CBRE has recently completed the sale of Gateway Four, a 137,069-square-foot, single-tenant office building, located at 444 N. 44th Street in Phoenix. The property is fully leased to State Farm Insurance and commanded a sale price of more than $22.9 million. Tom Adelson and Jim Fijan with CBRE’s Phoenix office negotiated the sale. The buyer… Read More →

Big Deals: Multi-family/Sales, March 2015-April 2015

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April 22, 2015 by in AZRE Magazine | Brokerage | In The Spotlight

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases that have occurred one month out from… Read More →

Justice for All: Construction in Indian Country

SRPMIC Justice Center, Courtesy of Gould Evans

There are 22 casinos in Arizona. One planned casino currently under construction on the Tohono O’odham Nation will cost $600M, bring in $100M in economic impact during the construction process and about $300M once it’s fully functional, according to reports by Indian Country Today. Income from tribal businesses, including casinos, is the only non-federal funding… Read More →