AZRE Magazine Archives

Westwood’s solar and wind teams add eleven new members

Group Photo
October 12, 2015 by in AZRE Magazine | Newsmakers

Westwood Professional Services, Inc., a national multi-disciplined professional surveying and engineering services firm, announced the addition of eleven new members to their solar and wind teams. This strategic move strengthens and expands Westwood’s national presence in the solar and wind markets and enables the company to leverage additional and well-established expertise to provide value to… Read More →

Friedman acquires Plaza Vista Mall in Sierra Vista

Friedman Integrated Real Estate Solutions, in a joint venture with its institutional equity partner, recently purchased Plaza Vista Mall, a 227,110 square foot retail power center located at 629 Arizona State Highway 90, in Sierra Vista, Arizona. The center, located at the northeast corner of State Highway 90 and Charleston Road, is anchored by Cal… Read More →

Security Properties acquire Pillar at Scottsdale for $95.75M

Pillar at Scottsdale (PRNewsFoto/Security Properties)

Security Properties and Intercontinental Real Estate Corporation purchased Pillar at Scottsdale, a 539-unit, Class A multifamily property located in Scottsdale, AZ, for $95,750,000.  The asset was purchased through Security Properties Multifamily Fund II in its second joint venture with Intercontinental and their US REIF Fund.  It is Fund II’s second purchase in the Phoenix market… Read More →

4-acre site approved for industrial development in Chandler


The city of Chandler’s Mayor and city council gave a unanimous green light for future development of a nearly 4-acre land parcel on Gila Springs Place, west of Kyrene Road for future industrial development. The property lies within the Paloma Kyrene Business Community. A request was made for rezoning from Planned Area Development (PAD) for… Read More →

Investor purchases $3M Midtown Central Avenue parcel

Central&Columbus_Oblique_New copy

Cushman & Wakefield announced that Ironline Partners has purchased 1.98 acres of land at the northeast corner of Central and Columbus Avenues for $3 million. Vice Presidents Will French and Brian Rosella with Cushman & Wakefield negotiated the sale transaction. Ironline Partners purchased the distressed parcel from MidFirst Bank and has not announced its development… Read More →

CCIMs report a 94% closing rate on industrial transactions

Members of the CCIM Institute, Commercial Real Estate’s Global Standard for Professional Achievement, indicated strong investor interest in industrial properties, according to the organization’s 3Q15 Quarterly Market Trends report. Approximately 69 percent of CCIM members who participated in a July/August 2015 market intelligence survey reported a higher industrial deal flow year over year, with a… Read More →

U.S. office rents growing at fastest pace in 7 years fffranz

Despite the recent global volatility, tenant demand for U.S. office space remained strong in the third quarter of 2015 pushing rental rates up in three-quarters of the U.S. according to new research by Cushman & Wakefield. Preliminary data show that U.S. office markets absorbed 19.2 million square feet (msf) of office space in the third… Read More →

W.J. Maloney adds spring training complex to list of projects

Photo courtesy of Plumbing Underground

W.J. Maloney Plumbing has announced the addition of the Surprise Spring Training Complex to its roster of projects. The major and minor league clubhouses for both the Texas Rangers and the Kansas City Royals are undergoing a $22 million remodeling and expansion project, expected to be completed in February 2016. W.J. Maloney Plumbing is relocating… Read More →

NAIOP Arizona’s Annual Roundtable

NAIOP 2015 Roundtable group_DSC_0974

NAIOP, a Commercial Real Estate Development Association, announced its decision to add retail to its foundation of office and industrial sector resources. This, among other topics, made it onto the table at the 2015 roundtable discussion held by leading members of the Arizona chapter. NAIOP-AZ members gather every year around a table, not necessarily a round… Read More →

RED Development and BIG USA add 5 properties to portfolio


BIG Shopping Centers USA and RED Development announced the addition of five retail assets totaling nearly 1.5 million square feet in two Midwestern states and Arizona to their recently launched joint venture BIG RED Portfolio, LLC. The partnership seeks to maximize market presence and performance of select U.S. retail properties in the Midwest and West.… Read More →

ABI Multifamily sells Paradise North Apartments for $10.75M

Paradise North Apartments Picture

ABI Multifamily announced the $10,750,000 sale of the 138-Unit, Paradise North Apartments located on 40th Street, just North of Bell Road in the Northeast Phoenix/North Paradise Valley submarket. “Paradise North Apartments is a unique property comprised of large, 987 SF average, Two Bedroom / Two Bathroom unit types (99% of units) with select units featuring… Read More →

Sperry Van Ness announces $6.9M in sale/lease transactions

Chandler Heights Marketplace

An outstanding week of sale and lease transactions at Sperry Van Ness, LLC reaches almost $7,000,000 in total deal value. Directors of Leasing, Mary Ridberg and Rommie Mojahed continue to excel in this industry by selling the Chandler Heights Marketplace for $5,425,000; an upcoming upscale retail shopping center in Chandler, along with a 4,800 square-foot… Read More →

Former Young’s Market industrial property sells for $5.5M

200 S. 49th Ave Photo

Cushman & Wakefield has announced the $5.5 million sale of an industrial facility at 200 S. 49th Ave. Evergreen Industrial Properties, LLC, of California purchased the 114,871-square-foot building from California-based Young’s Holdings, Inc. (Young’s Market Company). Constructed in 1989, the property was previously a warehouse and office facility for Young’s Market Company in the heart… Read More →

Hines announces moves at Renaissance Square

Renaissance Square 2
October 9, 2015 by in AZRE Magazine | Newsmakers

Hines, the international real estate firm, recently promoted Steve Hamel to General Property Manager and hired Lindy Mertins as Property Manager. Both positions are located at Renaissance Square. Hamel oversees a staff of 18 at Renaissance Square. He previously served as Property Manager of Renaissance Square. Through his leadership, Hamel has improved tenant satisfaction, accounting… Read More →