Featured Archives

North Central office buildings in Phoenix sell for $10.4M

East Missouri Buildings

Cushman & Wakefield announced that Arizona-based East Missouri LLC has purchased the East Missouri Office Buildings for $10.4 million. Eric Wichterman, Mike Coover, Bob Buckley, Tracy Cartledge, Steve Lindley, Ben Geelan, Chris Toci and Chad Littell of Cushman & Wakefield’s Capital Markets Group negotiated the sale. East Missouri Office Buildings, located at 711 and 777… Read More →

McKellips Business Park in Tempe sold for $1.38M

McKellips Business Park_DSC09612

Cushman & Wakefield has announced the $1.38 million sale of McKellips Business Park in Tempe. This completes the final property to be sold from the PS Business Parks portfolio, bringing the total portfolio sale price to approximately $54.5 million. Singh Organic Soils purchased the 22,855-square-foot building located at 1733 E. McKellips Rd. as an investment.… Read More →

How can marijuana initiatives affect CRE?


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 marijuana… Read More →

Abrazo launches 30-day health challenge for holidays

Vincent Smalls

Just in time for the holidays – when stress levels are high, and good eating habits and regular exercise fall by the wayside – Abrazo Community Health Network is launching a free 30-day health challenge for Valley residents. Artistry of You kicks off on Nov. 1 to help residents take control of their health, physically… Read More →

City of Scottsdale wins two IEDC Excellence Awards

by in AZRE Magazine | Events | Featured | In The Spotlight

The City of Scottsdale received a Gold Excellence in Economic Development Award for its 2015 project in the category of Business Retention & Expansion – Single Event for communities with populations of 200,000-500,000 from the International Economic Development Council (IEDC). City of Scottsdale & ASU SkySong also received a Silver Excellence in Economic Development Award… Read More →

What is the true role of a real estate lobbyist?

Knowledge is power. It’s also the currency used by lobbyist Ken Strobeck, executive director of the League of Arizona Cities and Towns. “I think people have a very misunderstood view of what lobbying is,” says Strobeck. “You think of somebody who is sneaking around with money falling out of their pockets on edge of legality. … We’re… Read More →

Sundt Foundation awards $69,500 to local nonprofits

Sundt Construction, Inc.‘s Phoenix employees have selected 19 local nonprofit organizations to receive Sundt Foundation grants totaling $69,500 for this quarter. The Sundt Foundation was established by Sundt in 1999 to give its employee-owners a means of giving back to their communities. It provides financial support to nonprofit organizations dedicated to improving the lives of disadvantaged children… Read More →

East Valley Market Update

Country Club light rail station

The East Valley is lit. In October, Marina Heights will begin lighting up its floors on the State Farm campus in Tempe and earlier this month, Mesa began seeing more of the light rail. The East Valley is comprised of submarkets on fire, thanks to the educated workforce coming out of higher education institutions. Tech… Read More →

Valley Partnership announces October breakfast topic

123rf.com: joingate
by in AZRE Magazine | Events | Featured | In The Spotlight

Valley Partnership has announced the topic for its upcoming monthly breakfast on Friday, Oct. 23. This month’s program will feature a discussion on the variety of funding options for needed infrastructure, the purpose of public-private partnerships (P3), and the challenge of prioritizing projects. The panel will feature John Trujillo, Public Works Director, City of Phoenix… Read More →

Vivo celebrates with anniversary dinner

Vivo Ristorante

Scottsdale’s Vivo Ristorante celebrated its one-year anniversary with a wine dinner, replacing its normal monthly Chef’s Table dinners. Vivo is Valley chef Tomaso Maggiore’s latest project, serving food from his native Italy. The idea behind Vivo was a more affordable food and drinks, a place for friends to come after work for a drink at… Read More →

MJ Insurance shows record revenue and growth

MJ Insurance

MJ Insurance, one of the nation’s largest privately-held insurance agencies, had a record-setting year in fiscal 2015 reporting more than $29 million in revenue – a 9 percent increase year-over-year and the highest the firm has ever recorded. MJ’s fiscal year runs from September to September and for 2015, MJ saw continued growth in both… Read More →

Security Properties acquire Pillar at Scottsdale for $95.75M

Pillar at Scottsdale (PRNewsFoto/Security Properties)

Security Properties and Intercontinental Real Estate Corporation purchased Pillar at Scottsdale, a 539-unit, Class A multifamily property located in Scottsdale, AZ, for $95,750,000.  The asset was purchased through Security Properties Multifamily Fund II in its second joint venture with Intercontinental and their US REIF Fund.  It is Fund II’s second purchase in the Phoenix market… Read More →

Investor purchases $3M Midtown Central Avenue parcel

Central&Columbus_Oblique_New copy

Cushman & Wakefield announced that Ironline Partners has purchased 1.98 acres of land at the northeast corner of Central and Columbus Avenues for $3 million. Vice Presidents Will French and Brian Rosella with Cushman & Wakefield negotiated the sale transaction. Ironline Partners purchased the distressed parcel from MidFirst Bank and has not announced its development… Read More →

CCIMs report a 94% closing rate on industrial transactions

Members of the CCIM Institute, Commercial Real Estate’s Global Standard for Professional Achievement, indicated strong investor interest in industrial properties, according to the organization’s 3Q15 Quarterly Market Trends report. Approximately 69 percent of CCIM members who participated in a July/August 2015 market intelligence survey reported a higher industrial deal flow year over year, with a… Read More →