New to Market Archives

Optima Kierland opens to highly receptive market

Optima Kierland
by in AZRE Magazine | Multi-Family

The $500 million project, Optima Kierland, a high-rise luxury condominium community in the North Scottsdale Kierland neighborhood, has opened for sales to a highly receptive market. Optima Kierland, situated on 9.5 acres at Scottsdale Road and Kierland Boulevard, showcases signature Optima architecture design aesthetics with lush vertical gardens, floor-to-ceiling glass allowing unencumbered desert and mountain… Read More →

CBRE closes sale of Shops at Arrowhead Gateway

Arrowhead Gateway
by in AZRE Magazine | Brokerage | Retail

CBRE has completed the sale of the Shops at Arrowhead Gateway located at 17560 and 17570 N. 75th Ave. in Glendale, Arizona. The ±35,684 square-foot shops on an outparcel of Arrowhead Towne Center Mall commanded a sale price of $10.1 million. Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office negotiated the transaction on behalf of… Read More →

Stratford Plaza sells for $2.27M

Stratford Plaza
by in AZRE Magazine | Brokerage | Retail

CBRE has completed the sale of Stratford Plaza located at 1219 E. Glendale Ave. in Phoenix. The ±20,400 square-foot retail strip center was 84 percent occupied at time of sale and commanded a sale price of more than $2.27 million. Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office negotiated the transaction. The seller was La… Read More →

Apartment community offers concierge service

Infill development

Apartment communities have been making great strides with awesome amenities to attract the modern resident, and the Residences at Fountainhead is no different with the launch of its personal concierge service that hopes to be your personal assistant. The Pinnacle Concierge Service can do it all, from order tonight’s dinner to ordering those awesome drapes you… Read More →

Gilbert land purchased for new retail center

Rendering of SanTan Pavilions (Photo courtesy of Remington Nevada, Intercapital Development and Capital Asset Management)
by in AZRE Magazine | Retail

In its second Valley purchase to date, Nevada developers Remington Nevada (David Delzotto, owner-developer) and Intercapital Development have once again teamed up with locally-based Capital Asset Management to purchase a prime 32.9-acre site located on the southwest corner of Williams Field Road and SanTan Parkway in Gilbert. The site, cash purchased for $13,613,437, will be… Read More →

Medical office demand on rise

Multi-State Medical Office Building Portfolio
by in AZRE Magazine | Medical

Colliers International in Greater Phoenix released its Medical Office Research and Forecast Report for first quarter 2016. Conditions were mixed in the Greater Phoenix medical office market in the first quarter. Vacancy ticked lower, but the rate rose in on-campus buildings. Across the market, rents dipped in the first quarter, but have inched higher over… Read More →

Retail center is part of $2B Ritz-Carlton project

$2B Ritz-Carlton Project
by in AZRE Magazine | Construction | Retail

Five Star Development announced Wednesday its detailed plans to develop a retail and dining destination, The Palmeraie, in the heart of Scottsdale that will be connected to the $2 billion Ritz-Carlton, Paradise Valley master-planned community. The initial phase of The Palmeraie will encompass approximately 160,000 square feet of high-end, mixed-use space located on 18 acres at… Read More →

TruAmerica bolsters portfolio with Tempe buy

TruAmerica
by in AZRE Magazine | Multi-Family

In one of the largest apartment transactions this year in Phoenix, TruAmerica Multifamily and institutional capital partner Investcorp have acquired Little Cottonwoods, a 379-unit multifamily community in Tempe for $56.7 million.         This is the third and largest multifamily investment in the Phoenix area for TruAmerica and its fourth joint venture with Investcorp in… Read More →

Cleveland-based Financial risk firm expands into Phoenix

Financial risk

Hines, the international real estate firm, today announced it has signed a 19,200-square-foot lease at Renaissance Square for Gabriel Partners, a Cleveland-based financial risk and compliance firm expanding to the Phoenix market. Gabriel Partners will occupy the entire 22nd floor of Two Renaissance Square with collaborative office spaces. Gabriel Partners provides financial and risk analytics, intelligence and regulatory… Read More →

IPA starts building Generations at Ahwatukee

Flagstaff lost the highest percentage of construction jobs
by in AZRE Magazine | Construction | Medical

Investment Property Associates LLC (IPA) and Retirement Community Specialists (RCS) announced construction is now underway on its senior living community, Generations at Ahwatukee. The project, located at the southeast corner of Chandler Boulevard and 50th Street is targeted for completion by mid-summer 2017. The community will include a total of 137 units, comprised of 97 independent/assisted living… Read More →

First Tempe Town Lake hotel opening soon

Downtown
by in AZRE Magazine | Hospitality

AC Hotels by Marriott, Marriott International’s European-inspired lifestyle brand, will open AC Hotel Phoenix Tempe/Downtown next month, which will be the brand’s first hotel in the western United States. AC Hotel Phoenix Tempe/Downtown will add style and sophistication to the vibrant city of Tempe and will be the first hotel to be located on Tempe Town Lake, a popular… Read More →

Developer announces 222K SF Phoenix industrial project

Phoenix industrial
by in AZRE Magazine | Industrial | New to Market

Liberty Property Trust Thursday announced that it will break ground on its first building this spring at Liberty Logistics Center II, a new 73-acre industrial park located at the corner of 71st Avenue and Buckeye Road in Phoenix. The 222,910 square foot distribution facility is the first of the 1.5 million square feet of multi-tenant industrial… Read More →

How to boost curb appeal for a multifamily property

Condos

Consider these two scenarios: A: You are a tenant, and looking for a multifamily property. You visit a unit that has great interiors. However, outside, the walkway seems a bit shabby (uneven), the landscaping is not that green, the paint of the building has peeled off, masonry looks weathered and unclean, and the entrance door… Read More →

Sun State Builders completes Flagstaff DES

Sun State Builders
by in AZRE Magazine | Office

Sun State Builders announced the completion of the Department of Economic Security project in Flagstaff, Arizona. The single tenant office project is 50,000 square feet, three-Stories, and is beautifully incorporated into the pines of Northern Arizona. The fully occupied office space houses eight different departments for the State of Arizona, including Child Protective Services, Economic Security, Attorney… Read More →