In The Spotlight Archives

AZRE Source: Make room for the boutique boom

Graduate Tempe
Photos by Christian Horan Photography

Arizona may be pushing its weight around as a tech hub, but the state is also seeing its hospitality sector bounce back with a force that is causing waves of property exchanges, renovations and re-branding efforts to many hotels and resorts. Most recently, the Ritz-Carlton on 24th Street and Camelback Road in uptown Phoenix did… Read More →

Breweries tap into adaptive reuse of retail

SanTan Brewing Company
Photo by Mike Mertes, Az Big Media

Fifty-four-year-old Walter Crutchfield, principal and co-founding member of Phoenix-based development company Vintage Partners, is sipping on Oskar Blues Breweries’ Dale’s Pale Ale. It’s one of the beers hooked up to his office’s commercial grade tap, where craft beer flows often. “It’s a true American industry,” Crutchfield says. In the last five years, the craft beer… Read More →

Caliber acquires Holiday Inn & Suites near airport

Phx Holiday Inn & Suites

The 44th and McDowell Hotel Group, LLC, an affiliate of the Caliber Distressed Real Estate Income Fund (CDIF, LLC) private equity fund managed by Caliber Companies, has announced its acquisition of the 4-story, 228-room Holiday Inn Hotel & Suites Phoenix Airport North in Phoenix Arizona. The hotel is the Company’s third hospitality acquisition in three… Read More →

After Hours: Wheelin’ and dealin’ Rob Martensen

Photo: Mike Mertes, Az Big Media

Colliers International Senior Vice President Rob Martensen has been involved in more than 600 transactions, including industrial sales, leasing, build-to-suits and land sales, but when he isn’t making a deal he is in the driver’s seat. How did you get into off-road racing? I just grew up going to the races and got the opportunity to… Read More →

Deer Valley Medical Buildings achieves maximum occupancy

6704 Deer Valley lll Photo Exterior

Ensemble Real Estate Solutions has closed three new leases totaling 25,000 square feet at Deer Valley Medical Office Buildings II & III on the campus of HonorHealth Deer Valley Medical Center. These new deals bring the two medical office buildings (totaling more than 154,000 square feet) to 100 percent occupancy. Recent transactions that brought the… Read More →

CBRE recent transaction report for Southern Arizona

123rf.com: hanohiki

CBRE’s Tucson office has released the following recent transactions: Stewart Title & Trust of Tucson has leased 1,917 square-feet of office space at 3573 E. Sunrise Dr., La Paloma from DHS Property Investments. The tenant and landlord were represented by David Montijo and Bruce Suppes with CBRE’s Tucson office. Fidelity Brokerage Services LLC has leased… Read More →

Brentwood apartment property in Phoenix sells for $9.65M

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Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Brentwood, a 224-unit apartment property in Phoenix. The asset sold for $9,650,000. Cliff David, a Marcus & Millichap vice president investments, and Steve Gebing, a senior director with Institutional Property… Read More →

Acacia Health Center undergoes $13.2M expansion

Acacia Health Center Exterior

Sagewood, a Continuing Care Retirement Community (CCRC) is expanding its onsite Acacia Health Center to double in size, according to Sagewood’s Executive Director, Stewart Ingram. The $13.2 million expansion will include another 36,300 square feet to Acacia Health Center at Sagewood. The addition of 60 beds will include a 20-bed memory care neighborhood and 40… Read More →

Tempe office warehouse building trades at $3.3 Million

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A 33,400 SF warehouse at 1917-1965 W. First St., in Tempe near Rio Salado Pkwy. and Priest Dr. sold for $3,316,010 or $99.28 per square foot in an all-cash deal. Rick Robertson, Principal with Lee & Associates represented both the buyer and seller in this transaction. The buyer was Danari Temple, LLC an investment partnership… Read More →

Zenefits continues rapid growth with new Tempe office building

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Zenefits, the free, cloud-based human resources technology company that automates and eliminates HR administrative work for businesses, has announced that due to its rapid growth and hiring it has signed a 10-year lease for a large, new office in Tempe, which will be its second office site in greater Phoenix. The San Francisco-headquartered company will… Read More →

Alliance Residential named “Top Companies to Work For”

123rf.com:  Elnur Amikishiyev

Alliance Residential, the largest multifamily developer and seventh largest multifamily manager in the nation, has been named one of CareerBuilder’s Top Companies to Work for in Arizona by Republic Media (The Arizona Republic, azcentral.com, La Voz) and CareerBuilder. This is Alliance’s second year on the annual listing. Companies are evaluated and selected based on a combination… Read More →

$7M JLL Hangar sale shows Phoenix aerospace is flying high

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The Phoenix office of JLL has closed the $7 million sale of The Hangars at 5615, a major, state-of-the-art office and hangar facility with direct runway access to Phoenix Mesa-Gateway Airport, the hub of Phoenix’s up-and-coming aerospace corridor. Although the property is currently 100 percent vacant, it is being acquired by an investor with an expected commitment for… Read More →

SimonCRE purchases retail building from Los Olivos Norte

LosOlivos__SimonCRE

Commercial real estate developer SimonCRE purchases a +/- 7,000 SF retail building from a popular Scottsdale restaurant located within the Sonora Village Shopping Center. The building is located at 15544 N. Pima Road in Scottsdale, just off Frank Lloyd Wright and the Loop 101 in Scottsdale, AZ. After nearly 20 successful years in business, Los… Read More →

AZRE Forum enlists industry leaders for panels

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AZ Big Media is hosting prominent Arizona commercial real estate professionals at its inaugural AZRE Forum, a mid-year industry update and forecast. “AZRE is the leading commercial real estate magazine in the Valley,” says editor Amanda Ventura. “The AZRE Forum is a new way for AZ Big Media and AZRE to reach its readership and… Read More →