New to Market Archives

Fully leased Phoenix Warehouse sells for $1.15M

Phoenix Warehouse
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services negotiated the $1.15 million sale of a 10,792-square-foot 100 percent leased warehouse located at 23042 N. 16th Ln. in Phoenix. Chris Rogers and Trevor McKendry of Daum Phoenix represented both the buyer and seller in the transaction. Bob Lundstedt, first vice president of Daum Phoenix, assisted in representation. The buyer, Hualapai Investments… Read More →

ENVY Residences set for spring completion

Envy Residences
by in AZRE Magazine | Multi-Family

The $47 million ENVY Residences condominium tower in Old Town Scottsdale, near Scottsdale and Camelback Roads is on track to open in late spring. Developed by Deco Communities, the residential project will bring 89 high-end residences to the heart of Scottsdale’s arts, entertainment and nightlife mecca. The building will celebrate its grand opening and welcome the first… Read More →

Irgens completes Harbor Vista Medical Center development

Harbor Vista Medical Center
by in AZRE Magazine | Medical

Irgens announced development completion of shell and core construction for Harbor Vista Medical Commons, the new Cigna Medical Group Sun City Multi-Specialty Center at 9069 W. Thunderbird Ave. The 60,000-square-foot, build-to-suit facility will offer health care delivery services to Cigna Medical Group patients. Scheduled to open for patients in October, project development is meeting Cigna’s… Read More →

Phoenix Kindred Transitional Care Center completed

Kindred Transitional Care Center
by in AZRE Magazine | Construction | Medical

The Weitz Company completed the newest Kindred Transitional Care Center located near 19th and Van Buren Streets, making it Kindred’s third transitional center in the Valley. Built near downtown Phoenix at1880 E. Van Buren Street, Kindred is a 120 bed post-acute care facility focused on patient rehabilitation. The facility is a new 3-story, 81,000 square foot structure… Read More →

ARM signs lease for Arizona operations in Chandler

ARM
by in AZRE Magazine | Brokerage | Office

Cushman & Wakefield, a commercial real estate services firm, announced, Monday, that ARM Inc. leased a 13,275 square-foot space for its new Arizona operations at The Park at San Tan in Chandler. ARM, headquartered in Cambridge, England, is a semiconductor intellectual property supplier. ARM licenses intellectual property to a network of partners, which includes the world’s… Read More →

Phoenix Mountain Park Plaza sells for $9.7M

Mountain Park Plaza
by in AZRE Magazine | Retail

Colliers International in Greater Phoenix negotiated the sale of Mountain Park Plaza on 7th Street and Baseline Road in Phoenix, for $9,665,000. Mindy Korth, executive vice president; and Kirk Kuller, vice president, with Colliers’ Phoenix office represented the seller, Western America Commercial, which is a 19-member Tenant in Common based in Issaquah, Washington. The seller… Read More →

Volvo dealership coming to $60M autopark

Carvana
by in AZRE Magazine | Retail

The owners of Courtesy Chevrolet will be opening up a Courtesy Volvo dealership at the $60 million auto mall, Scottsdale AutoShow at Salt River. The new dealership will include a sales and service facility, and is currently in escrow. The auto mall where the new Volvo dealership will reside is set to be completed in… Read More →

Salt River Judicial Center nears completion

Salt River Judicial Center
by in AZRE Magazine | Construction | Public

The Salt River Pima-Maricopa Indian Community (SRPMIC) recently celebrated the topping out of the Salt River Judicial Center, a complex that will house the Community’s tribal court, legal services, prosecutors and defense advocates offices. The project is a joint venture of Au’Authum Ki and Kitchell, a collaboration that also completed the SRPMIC Detention Facility. Gould… Read More →

Glendale Industrial space sells for $1.75M

Industrial Space
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services negotiated the $1.750 million sale of a 16,150-square-foot industrial building located on 3.77 acres at 5150 N. Tom Murray Ave. in Glendale. Carl Johnson with Daum Phoenix represented the seller, MTCCG LLC of Paradise Valley. The company is a family trust who has owned the facility for 40 years. Daum… Read More →

Hoskin-Ryan signs long-term Phoenix lease

123rf.com: Vitaliy Vodolazskyy
by in AZRE Magazine | Brokerage | Office

Hoskin-Ryan Consultants, Inc., a full-service, civil engineering firm signed a long-term, 12,808 SF office lease at 5050 @ Camelback located near 40th Street and Camelback Road. Craig Coppola and Andrew Cheney, Principals and Gregg Kafka, Associate with Lee & Associates, represented the landlord, California-based Mark IV, Capital Inc., while Scott Nelson with Commercial Properties, Inc.… Read More →

$57M Downtown Phoenix apartments to open in February

Downtown Phoenix Apartments
by in AZRE Magazine | Multi-Family

Two Phoenix apartment complexes near Washington and 12th Streets will have a public grand opening on Feb. 25. Phoenix Mayor Greg Stanton will commemorate the grand opening of Capital Place, a $57 million 292-unit apartment complex. The open house event will showcase the new project and highlight downtown living. In partnership with neighboring businesses, the… Read More →

Chandler Comfort Inn sold for $7.7 million

123rf.com: feverpitched
by in AZRE Magazine | Hospitality

The Chandler Comfort Inn sold to a California-based hotel group for $7.7 million, and Tower Capital arranged a $5,600,000 acquisition loan for the purchase. The 129-room Comfort Inn is located near Chandler Boulevard and 56th Street. The 4-story limited service hotel was originally built in 1997 and renovated in 2012. The $5.6 million dollar loan… Read More →

Retail big boxes remain vacant after closures

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

The Phoenix retail big box market continues to hold back real improvement in shopping center vacancy. In the year-end 2015 National CoStar Retail Report, Phoenix ranked as having one of the worst retail vacancy rates in the U.S. Out of the 125 MSA’s the report tracks, Phoenix finished near the bottom ranking 123. With nearly… Read More →

Wells Fargo sells Tempe office building for $6.25M

Sold Sign
by in AZRE Magazine | Office

Well Fargo sold its office building near Broadway Road and Roosevelt Street in Tempe for $6.25 million to Evergreen Devco. The bank secured a short-term lease to continue occupancy of the 75,000-square-foot building. Senior Directors Don T. Rodie and Jim Crews of Cushman & Wakefield negotiated the sale and lease on behalf of Wells Fargo.… Read More →