AZRE Magazine Archives

LGE Design Build starts construction on aerospace distribution facility

LGE Design Build
by in AZRE Magazine | Construction

LGE Design Build started construction on a new 33,000-square-foot distribution center for WireMasters, a distributor of wire, cable and associated electrical components for cable harnesses serving the military, aerospace and defense industry. The new distribution center, expected to be complete in early 2017, will serve the southwestern United States. Located at 1748 N. Higley Rd. in Mesa, the building… Read More →

Bear Holdings Group makes first asset buy in Prescott area

Bear Holding Group
by in AZRE Magazine

Colliers International in Greater Phoenix negotiated the sale of The Terraces at Glassford Hill apartments at 5700 E. Market St. in Prescott Valley, AZ. “This remarkable asset is situated on Glassford Hill giving the tenants picturesque views of Prescott. The unique location and the quality of the apartment community created a highly desirable community among… Read More →

LGE Design Build starts construction on Rainbow Ryders building

LGE Design Build
by in AZRE Magazine | Construction

LGE Design Build started construction on a new 12,000-square-foot office/retail building for Rainbow Ryders Hot Air Balloon Ride Company Inc. to accommodate the company’s expected growth during the next five years. The new building, located at 715 E. Covey Ln. in Phoenix near the Phoenix Deer Valley Airport, is scheduled to be complete in early to mid-2017. More… Read More →

Canadian investor buys Tempe apartments for $21.3M

Tempe apartments
by in AZRE Magazine | Multi-Family

Colliers International of Greater Phoenix negotiated the $21.3 million sale of The Arbors at 5th Apartments located at 805 W. Brown St. in Tempe, AZ. The community was purchased by a private investor based out of Vancouver, Canada. Senior Executive Vice President Cindy Cooke and Senior Vice President Brad Cooke of Colliers International in Phoenix… Read More →

Michelle Acosta joins SmithGroupJJR

Michelle Acosta
by in AZRE Magazine | Newsmakers

Architecture, engineering and planning firm, SmithGroupJJR, hired Michelle Acosta, AIA, EDAC, as project manager at the firm’s Health Studio in Phoenix. Acosta returns to Phoenix after three years at HDR, Los Angeles, where she was a project architect/manager working on a variety of healthcare facility types in tandem with leading medical planning efforts and user group… Read More →

Colliers negotiates 194-unit Flagstaff apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International in Greater Phoenix negotiated the sale of The Commons at Sawmill. The 194-unit asset is located at 901 S. O’Leary St. in Flagstaff, Ariz. The Commons at Sawmill is located within walking distance of Northern Arizona University (NAU) in the heart of Flagstaff. The property services are privately owned student housing community. Senior… Read More →

77-acres sold in Buckeye for new manufacturing facility

Buckeye
by in AZRE Magazine | Brokerage | Site Selection

Cardinal IG purchased 77-acres of land in Buckeye to build a 250,000-square-foot manufacturing facility. Cardinal IG purchased the land from Evergreen Devco Inc. and Evergreen-Apache & Southern LLC. The Phoenix office of JLL brokered the deal on behalf of the sellers. Cardinal IG will develop a 250,000-square-foot, build-to-suit advanced glass manufacturing facility at the site. The project will… Read More →

How commercial real estate fared at the Capitol this year

Arizona State Capitol
by in AZRE Magazine

Of the 10 issues identified by the NAIOP-AZ Board as top priorities, nine were resolved successfully at the State Legislature this session. In a nutshell, we were able to stave off three property tax shifts to commercial real estate while advancing changes to two bills that protect taxpayer petition and disclosure rights and improve the… Read More →

Phoenix truck dealership sells for $2.786M

Vestar
by in AZRE Magazine | Brokerage

NAI Horizon Senior Vice President Isy Sonabend represented the buyer in the $2.786 million sale of a former truck dealership and repair facility at 2600 W. McDowell Rd., in Phoenix. NAI Horizon represented 2600 W. McDowell, LLC, in the acquisition of the 48,000-square-foot building that includes industrial workshops and canopies. The property sits on 11… Read More →

DMB president sees urban redevelopment as future for valley

DMB

Brent Herrington, president and CEO of DMB Associates Inc., finds his company in the middle of a major change in strategy. DMB, known for building large masterplan communities, now shifts its focus to urban redevelopment style projects aiming for more infill and adaptive reuse. He took over for former president Charley Freericks in February and… Read More →

VanTrust hires director of development services

VanTrust
by in AZRE Magazine | Newsmakers

VanTrust Real Estate LLC., a full-service real estate development company with headquarters in Phoenix, hired Damon Jeffrey as director of development services. In his role, he will work with designers and contractors to execute projects as they are identified during development. Jeffrey’s current projects include Chandler Corporate Center, a 119,000-square-foot office development on Chandler Boulevard and… Read More →

Nearly 20 KSF of office leases signed at Westgate

Westgate entertainment district
by in AZRE Magazine | Office

This week, Westgate Entertainment District signed leases for close to 20,000 square feet of office space to three businesses that will open at the Glendale mixed-use center by the end of the year.  Harvard Drug Group, a pharmaceutical sales, manufacturing and distribution company, originally opened at Westgate in 2013 with a 4,937 square-foot office to accommodate… Read More →

Houston-based Hines buys 820k SF industrial facility

investment firm
by in AZRE Magazine | Brokerage | Industrial

The JLL Capital Market team negotiated the sale of Goodyear Crossing II, an 820,384-square-foot, Class A fulfillment center in Goodyear, which was purchased by  real estate investment firm Hines for $56.2 million. The property was fully leased at the time of the sale. As investment grade tenants continue to see the value of locating in Phoenix, investors… Read More →

Tempe selects developers for bio, tech campus

Tempe
by in AZRE Magazine | Construction

The City of Tempe moved forward with seeking the development of the city’s first biomedical and technology campus on 18 acres of Tempe land west of the Tempe Center for the Arts. On Thursday, the City Council selected a partnership of three businesses to negotiate with the city on a development agreement. The selected development… Read More →