New to Market Archives

CBRE will market and sell Containers on Grand

by in AZRE Magazine | Brokerage | Multi-Family

CBRE announces the firm has been selected as the exclusive agent to market and sell Containers on Grand, a sustainable apartment community made of repurposed shipping containers. The downtown Phoenix project was the first shipping container community in the Western U.S. and is the only shipping container community in the country on the market. Located… Read More →

District Lofts now pre-leasing in Gilbert’s Heritage District

by in AZRE Magazine | Multi-Family

Renters looking to establish roots in one of the most desirable areas in the U.S. have a new option: District Lofts. District Lofts is the only luxury rental community located within the Town of Gilbert’s soulful, urban and walkable Heritage District neighborhood. The Heritage District continues to lure the region’s most premier shops, dining and… Read More →

Developers plan to break ground on $25M Scottsdale mixed-use project this summer

Scottsdale mixed-use project
by in AZRE Magazine | Mixed-Use

Developers are hoping to create a $25 million luxurious shopping, living, dining and office project in Scottsdale at the southeast corner of Scottsdale Road and Chauncey Lane. DBM Ventures expects to break ground on the 53,000-square-foot, mixed-use project, Chauncey Lane, this summer, with an opening date planned for summer 2018.   Provided renderings, courtesy of LGE, Cawley Architects, AV3… Read More →

Report: Phoenix’s retail sector slows in second quarter

by in AZRE Magazine | Retail

Absorption of retail real estate in Greater Phoenix slowed during the second quarter, but investors were busy purchasing retail properties. The mid-year retail research report released by Colliers International in Greater Phoenix forecasts improvement in the retail sector for the second half of 2017. Vacancy remained flat at 9.3 percent in the second quarter and net absorption… Read More →

Cawley Architects completes Spectra Eye Institute

by in Architecture | AZRE Magazine | Medical

Cawley Architects of Phoenix recently completed a 9,130-square-foot surgery center for Spectra Eye Institute at the newly redeveloped 36,959-square-foot headquarters of Retinal Consultants of Arizona along I-17.  Spectra Eye Institute provides specialized surgery services for patients of Retinal Consultants, the nation’s largest clinical, surgical and academic private practice and research institute treating eye conditions involving… Read More →

Tempe apartments on Broadway sell for $41.81M

Tempe apartments on broadway
by in AZRE Magazine | Multi-Family

A 194-unit Tempe apartment complex near Broadway and Rural roads was recently sold for $41.81 million to Toronto-based Brass Enterprises. Trinsic Residential Company and CNL Growth Properties, which were both represented by JLL Executive Vice Presidents John Cunningham and Charles Steele, sold the complex, Aura at Broadway. The complex is located at 1221 E. Broadway Rd.,… Read More →

What are the 10 most expensive Arizona zip codes for rent?

Infill development
by in AZRE Magazine | Multi-Family

Although the average rent in Arizona was hovering around $947 at the end of Q1—quite far below the national average that hit $1,316 in May—, certain spots in the desert can yield generously for landlords. In fact, that statewide average is the result of a 5.8% year-over-year growth, one of the highest state-level growth rates in the country… Read More →

JLL will lease Skyway Commons — new spec industrial project

by in AZRE Magazine | Industrial

The Phoenix office of JLL has earned the leasing assignment for Phase I of Skyway Commons, a fully speculative new Class A industrial project that has broken ground in the northwest Phoenix submarket. Totaling 110,221 square feet, Skyway Commons Phase I is designed to meet burgeoning demand from small to mid-sized general industrial users with divisibility down… Read More →

North Phoenix apartments sell for $40.25M

North Phoenix apartments
by in AZRE Magazine | Multi-Family

CBRE Group Inc. arranged the $40.25 million sale of Avenue 25, a 254-unit, Class A multifamily community located at 18250 N. 25th Ave. in Phoenix, Arizona. Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch with CBRE’s Phoenix office represented the seller, Los Angeles-based TruAmerica Multifamily. The buyer was Salt Lake City-based Millburn & Company. “In addition to the North Phoenix… Read More →

Phoenix office market on pace to surpass 2 million SF of absorption

Renaissance Square
by in AZRE Magazine | Office

For the fourth year in a row, the Phoenix office market is on pace to surpass 2 million square feet of absorption, according to the Q2 Phoenix Office Insight Report released today by the Phoenix office of JLL. According to the report, second quarter absorption totaled 595,346 square feet, representing the Valley’s 16th consecutive month of positive net office space absorption.… Read More →

Phoenix industrial market absorption continues to outpace new construction

by in AZRE Magazine | Industrial

The Phoenix industrial market is teeing up for its fourth consecutive year in which absorption gains outpace new construction, according to the Q2 Phoenix Industrial Insight Report released Wednesday by the Phoenix office of JLL. According to JLL, nearly 60 percent of newly completed industrial properties are pre-leased at delivery, with large users taking advantage of new product… Read More →

Check it out: Integrate’s new Downtown Phoenix, penthouse-level HQ

Integrate offices

The 19th floor “penthouse level” of 111 W. Monroe St. in Downtown Phoenix is ready to welcome its new, high-tech tenant – courtesy of a seven-month, creative office build-out just completed this week by the Phoenix office of JLL. The new tenant is Integrate, a locally based, rapidly growing cloud marketing software and service provider. JLL Executive… Read More →

Market upside helps JLL sell Phoenix Logistics Center

Strong market performance and continued confidence in Phoenix’s industrial market future has spurred the $18.4 million sale of Phoenix Logistics Center – sold this week by the Phoenix office of JLL on behalf of a joint venture between Overton Moore Properties and PCCP LLC, and acquired by Colony Northstar. JLL Managing Directors Bo Mills and Mark Detmer, and Vice President Ryan Sitov represented… Read More →

CBRE completes $66.4M sale of Camelback Commons

by in AZRE Magazine | Brokerage | Office

CBRE Group, Inc. has completed the sale of Camelback Commons, a ±322,406-square-foot office campus located at 4722 and 4742 N. 24th St. in Phoenix. The two building, Class A office property commanded a sale price of $66.4 million. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, a joint venture between California‐based… Read More →