New to Market Archives

Midtown Phoenix apartment complex sells for $17.5M

Midtown Phoenix apartment
by in AZRE Magazine | Multi-Family

Midtown Phoenix apartment complex, Clarendon Park, sold for $17.5 million to Phoenix-based Rincon Partners LLC, according to Cushman & Wakefield. Brett Polachek and Jim Crews from the Cushman & Wakefield Phoenix office represented the buyer of  the 138-unit complex located at 222 W. Clarendon Ave., near Third Avenue and Indian School Road. Built in 2002, Clarendon Park offers… Read More →

Arizona Polymer Flooring relocates headquarters

Arizona Polymer Flooring
by in AZRE Magazine | Industrial

Arizona Polymer Flooring (APF), a manufacturer of high-performance flooring products and concrete coating systems, has officially relocated into its newest headquarters in Phoenix. The mixed-use building, located near 43rd Avenue and Buckeye Road (4565 West Watkins Street), will feature an 18,000-square-foot production area, 18,000 square feet set aside for storage and warehouse space, and 14,000 square… Read More →

Washington Federal signs long-term lease at Scottsdale Spectrum

Washington Federal moves to Scottsdale Spectrum
by in AZRE Magazine | Office

Washington Federal signed a 10-year, 9,793-square-foot lease at Scottsdale Spectrum, 6720 N. Scottsdale Rd., with the lease scheduled for third quarter 2017. Lee & Associates Principals Adam Tolson and Jim Watkins represented the landlord, Scottsdale-based Globe Corporation. Glenn Smigiel of CBRE procured Washington Federal. Washington Federal has 238 branches in the 9 western states and 31… Read More →

Cushman & Wakefield joins office trend

Cushman & Wakefield
by in AZRE Magazine | Office

Cushman & Wakefield typically brokers deals for a tenant’s relocation to a new office space, but this time, the shoe was on the other foot. Following the $2 billion merger of Cushman & Wakefield and DTZ in September 2015, the firm’s Phoenix branch nearly doubled the size of its workforce and footprint in Arizona. Until… Read More →

3-building project breaks ground after 30 years

Davis Enterprises – Investments & Development is a family-owned business with many investments and redevelopment projects throughout the Valley, including a five-acre site that has been in the family portfolio for more than 30 years near the I-17 at 2005, 2015 and 2025 W. Deer Valley Rd. While the site has been occupied by different… Read More →

Hexagon Mining selects Downtown Tucson for headquarters

Today, Hexagon Mining, an information technology provider of planning, operations and safety solutions for the mining industry, announced the relocation and expansion of its North American headquarters in Tucson to Downtown Tucson. Hexagon Mining selected City Park at 40 E. Congress Street in Tucson as its new North American headquarters. The company will lease 26,000 square feet on the… Read More →

Apartments along Washington Street sell for $25M

Apartments along Washington Street
by in AZRE Magazine | Multi-Family

A luxury apartment community along Washington Street, near the Red Mountain Loop 202 Freeway, sold for $25 million to Denver-based Capital Real Estate, according to the brokers on the deal. NMS Property Services sold the 180-unit apartment complex, Mandarina Luxury Apartment Homes, and ORION Investment Real Estate represented both the buyer and seller in the… Read More →

Tempe apartments on Baseline sell for $16.35M

Tempe Apartments Sevilla
by in AZRE Magazine | Multi-Family

Sevilla, a 169-unit apartment complex at 1145 W. Baseline Rd., Tempe, sold for $16.35 million to Deleware-based Capital Real Estate LLC, according to Berkadia, the brokerage firm on the deal. Senior Managing Directors Mark Forrester and Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of the Berkadia Phoenix office exclusively listed the property… Read More →

Moving company buys industrial property for $7M

Moving company location
by in AZRE Magazine | Industrial

A 94,885-square-foot industrial distribution property at 2021 E. Jones Ave., Phoenix, sold for $7,068,932 or $74.50-per-square-foot to a national moving and storage company. Lee & Associates Principal Matt McDougall represented the building owners, Cohen Asset Management, Los Angeles, while Principal Steve Farrell represented the buyer, Phoenix-based S&M Moving Systems. The company is one of the… Read More →

Report: Average Phoenix rents reach new high

Phoenix rents multifamily
by in AZRE Magazine | Multi-Family

Phoenix’s average rent reached a new high this past February at $976 compared to 2016’s February average rent at $935, according to Axiometrics an apartment and student housing analytics firm. The Phoenix annual effective rent growth for February is at 4.4 percent, with a 94.6 percent occupancy rate in Phoenix, according to the report. The… Read More →

Glendale completes Municipal Landfill Facilities Improvement Project

In 2013, the Glendale City Council was advised by the city’s Department of Public Works staff that operations at the Glendale Municipal Landfill’s “south area” were approaching capacity and the closure of the southern portion of the landfill was eminent. Glendale city leaders moved forward and approved a plan that called for the seamless transitioning… Read More →

Solar company to move operations from California to Tempe

Solar company warehouse
by in AZRE Magazine | Industrial

An entity owned by California-based Solar Junction, a solar cell manufacturer, purchased a warehouse in Tempe with plans to move Solar Junction operations to the facility near 48th Street and Southern Avenue, according to Lee & Associates, the brokers on the sale. Huntington Geneva LLC, a holding entity for the San Jose-based Solar Junction, acquired… Read More →

Blue 32 Sports Grill completes 4th location in Chandler

Blue 32 Sports Grill
by in AZRE Magazine | Retail

The ownership team of Blue 32 Sports Grill continued its business plan of expansion by engaging a pair of locally owned companies to design and construct its fourth location, bringing life to a Southeast Valley corner that has been a blight for Chandler residents. Scottsdale-based firms Sigma Contracting and DPA Architects collaborated on the 4,000-square-foot restaurant… Read More →

Apartments near Alma School Road sell for $20M

Apartments near alma school road
by in AZRE Magazine | Multi-Family

Fiesta Park Apartments at 1033 S. Longmore Rd. has been sold for $20 million. A California-based real estate company acquired the property to expand its portfolio of apartment communities in the Phoenix area. The property consists of 10, three-story apartment buildings that contain 320 units totaling 234,696 square feet. Situated on 8.8 acres of land,… Read More →