New to Market Archives

Ryan Companies and Group Health Cooperative break ground

062915_GroundBreak_Renton04

Officials from Group Health Cooperative, Ryan Companies US, Inc., and the city of Renton broke ground for their new operations facility in Renton, Washington. Renton Mayor Denis Law joined Group Health President and CEO Scott Armstrong and Ryan Companies US President and CEO Pat Ryan to mark the beginning of the construction project. “Group Health… Read More →

Monster Paint FX relocates to Avondale

Monster Paint FX
June 30, 2015 by in AZRE Magazine | Brokerage | New to Market | Retail

Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease for the relocation of Monster Paint FX to 1422 N. Eliseo C. Felix Jr. Way. The lease is for 13,230 square feet. Monster Paint FX, which previously was at 7115 N. 110th Ave. in Glendale, is a locally owned company that provides custom auto body… Read More →

C & W | PICOR recent transactions: June 25, 2015

4011 E. Columbia
June 29, 2015 by in AZRE Magazine | Brokerage | New to Market

SALE GMSK Properties, LLC purchased a retail pad at the southeast corner of Mission and Irvington Roads in Tucson from Charford, Inc. for $150,000.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the buyer and the seller in this transaction. Magee Marquez, LLC purchased a 1,271 square foot office building at 2292… Read More →

Hines commences construction at Chandler Viridian

Chandler Viridian, CBRE

Hines, the international real estate firm, has commenced construction on the infrastructure at Chandler Viridian and is moving forward with the design of the Class-A, six-story office building for the mixed-use property’s master plan development. Chandler Viridian, located at the northwest corner of the Loop 101/Loop 202 interchange in the heart of the Price Corridor… Read More →

Tucson IDA issues RFP for 2 acres in downtown

An Aerial Shot of Downtown Tucson, Arizona

Today the Industrial Development Authority of the City of Tucson, Arizona, aka the Tucson IDA, issued a Request for Proposals for the property commonly known as “Block 175”, which is approximately 1.943 acres located in the heart of downtown Tucson. Marilyn Robinson, the Tucson IDA’s president, said, “The Tucson IDA believes that the timing for… Read More →

Investors drawn to success of local restaurant real estate

DosGringo

Phoenix loves its food, a characteristic that’s growing the local restaurant industry and building a strong investment story for restaurant real estate. This strength is evidenced by JLL’s recent $4.7 million Dos Gringos, Inc. restaurant portfolio sale, a multi-building deal spanning three active retail markets. JLL’s Tyson Switzenberg, John Reva, Trask Switzenberg and Matthew Berres completed the sale on behalf of Arizona-based… Read More →

Plaza Companies selected to lease three key properties

plaza companies

Plaza Companies has been selected by CNL Healthcare Properties to provide leasing services for three buildings on the HonorHealth John C. Lincoln Medical Center campus in Phoenix. The three buildings — Lincoln Medical Plaza I, Lincoln Medical Plaza II and North Mountain Medical Plaza — combined total more than 73,000 square feet of medical office… Read More →

ABI Multifamily sells Quail Canyon Apartment Homes for $9.3M

Quail Canyon Photo - Press Release

ABI Multifamily sold the 112-unit Quail Canyon Apartment Homes on McClintock Drive, just south of Broadway Road, less than one mile from the Tempe light rail. The $9.3M sale marks the fifth transaction brokered by ABI Multifamily since June 1 with a cumulative sales volume in excess of $35 million. “A lot of people use… Read More →

CBRE releases recent transaction report for Southern Arizona

Sierra Valencia
June 23, 2015 by in AZRE Magazine | Brokerage | New to Market

CBRE’s Tucson office has released the following recent transactions: Primadonna Linens has leased 3,216 square-feet of flex space at 3280 E. Hemisphere Loop from Tucson Property Investors. The tenant was represented by Mark Hays with Tierra Antigua Realty. The landlord was represented by Tim Healy and Bob DeLaney with CBRE’s Tucson office. Seneca Preparatory Academy Foundation has… Read More →

334,500 SF condominium project breaks ground in Scottsdale

enclave

Wespac Communities Inc., broke ground on Enclave at Borgata, a 335,500 square-foot podium condominium project at 6166 N. Scottsdale Road in Scottsdale. In partnership with Antera Development, and JEN Partners, the project is slated to complete in the winter of 2017, with first residents moving in Fall 2016. This exclusive luxury condominium community includes three… Read More →

Hampton Inn & Suites in Yuma sold for $7.4M

hampton

Marcus & Millichap has announced the sale of Hampton Inn & Suites Yuma, a 90-room hospitality property located in Yuma, Ariz., according to Kevin W. Boeve, vice president and regional manager of the firm’s Ontario office. The asset sold for $7,400,000. Aseem Tandon, a director of the National Hospitality Group in Marcus & Millichap’s Ontario… Read More →

Cactus Forty-2 apartment community in Phoenix sells for $36M

Cactus Forty 2
June 20, 2015 by in AZRE Magazine | Brokerage | Multi-Family

DTZ announced that Cactus Forty Two Holdings, LLC, a venture formed by Joe Meyer, Southwest Next Capital Management, and Matt Cody, Cachet Homes, sold its recently completed, 200-unit Cactus Forty-2 Apartment community located at 4242 E Cactus Road in Phoenix for $36 million ($180,000 per unit). The buyer was an entity formed by Fort Worth,… Read More →

August industrial and office property review

economy

ECONOMIC OVERVIEW The Metro Phoenix economy continued to improve adding 55,500 jobs over the past 12 months through March, marking an annualized job growth rate of 3.0%. The unemployment rate declined to 4.8%, the lowest rate since 2008, down 160 basis points (bps) from a year ago and 70 bps lower than the national rate.… Read More →

Preliminary master development plan for ASU Athletics Facilities District released

ASUAFD Preliminary Master Plan - 6.16.15

Arizona State University (ASU) and Catellus Development Corporation, a nationally recognized master developer, are taking an important step toward creating a world-class urban community immediately adjacent to ASU’s Tempe Campus.  Following several months of due diligence and market analysis, Catellus worked in collaboration with ASU to develop a preliminary master development plan to transform the… Read More →