AZRE Magazine Archives

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 →

Polaris Pacific hired for $90M luxury condo project in Chandler

by in AZRE Magazine | Multi-Family

The Statesman Group announced today that West Coast-focused Polaris Pacific has been hired to lead the sales and marketing for its $90 million dollar luxury condominium community, The Cays at Downtown Ocotillo. Located within Chandler’s sought-after Ocotillo lakefront neighborhood and along the vibrant Price Corridor, The Cays is a collection of 278 one- and two-bedroom… Read More →

McCarthy hires Guy Voss as director of business development

by in AZRE Magazine | Construction

McCarthy Building Companies Inc. recently hired Guy Voss, P.E., as director of business development of McCarthy Water for the Southwest division. The Water team offers general contracting, construction management, program management and design/build services for water and wastewater projects throughout the United States. In his new role, Voss will direct the group’s strategic planning and new… Read More →

Suntec president will lead ABA workforce labor committee

by in AZRE Magazine | Newsmakers

The Arizona Builders Alliance (ABA) announced that Derek Wright, president of Suntec Concrete, has joined the association’s board of directors. In the role, he will lead the new workforce labor committee, and participate in discussions pertaining to issues and challenges that will impact Arizona’s construction industry. “In the last decade, Derek’s firm has been responsible… Read More →

Seed Spot relocates to Downtown Phoenix Warehouse District

by in AZRE Magazine

After nearly four years at their midtown location, Seed Spot, an incubator for entrepreneurs with ideas for social change, has officially relocated to the Phoenix Warehouse District in a newly renovated commercial suite in the historic R&R Partners warehouse at 502 South 2nd Street, just south of Talking Stick Arena. The five-year lease of the… Read More →

California-based buyer acquires Thunderbird Village for $12.5M

by in AZRE Magazine | Brokerage | Retail

Brokers from LevRose Commercial Real Estate closed the sale of Thunderbird Village in Peoria for $12.5 million. Located at 7518 W. Thunderbird Road, the 82,099 square-foot building includes a 90 percent leased retail center. California-based company, Deerwood Retail Opportunities AZ, LLC, purchased the property from CAZCO Asset Management Inc. The brokers for the buyer were… Read More →

Arizona Multi-housing Association CEO leaves for Washington, D.C. job

Arizona Multi-housing Association
by in AZRE Magazine

Tom Simplot, will step down from his position as president and CEO for the Arizona Multihousing Association this Friday. After a nine-year tenure as the head of AMA, the longtime Phoenix resident will follow a new job opportunity in Washington D.C. working for a federal agency. Courtney Gilstrap LeVinus, owner and co-founder of Capitol Consulting, will take over as… Read More →

Tempe industrial park sold for $19.1M

Cushman & Wakefield completed the sale of Kachina Industrial Park, located at 1805-1850 W. Drake Drive in Tempe on behalf of Northern California-based Kieckhefer Properties. Libitzky Holdings LP of Emeryville, Calif. purchased the property for $19.1 million. Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller. Kachina Industrial… Read More →

312SF Parc Pinnacle Industrial Project breaks ground

by in AZRE Magazine | Construction | Industrial

Dallas-based Jackson-Shaw has partnered with Las Vegas-based LaPour Partners Inc. to break ground on Parc Pinnacle, a 311,840-square-foot, three-building speculative industrial project in Deer Valley, Arizona. The Phoenix office of JLL was granted the leasing assignment for the new development. “We have had a successful history developing quality industrial products in Deer Valley over the… Read More →

Nearly 200,000 construction jobs added since May 2016

nonresidential construction
by in AZRE Magazine | Construction

In May, not seasonally adjusted (NSA) construction unemployment rates were down in 24 states on a year-over-year basis, according to analysis released today by Associated Builders and Contractors (ABC). At the same time, the construction industry added 192,000 more construction jobs than in May 2016, according to data from the U.S. Bureau of Labor Statistics… Read More →

Verde Dimora Apartments in Mesa sell for $22.25M

The Verde Dimora Apartments at 2217 N. Power Rd. in Mesa have been sold to a Canadian investor for $22,250,000. The buyer is expanding its portfolio of Arizona properties and plans long-term ownership of the community. Western Wealth Capital (WWC), LLC of Arizona purchased the property from Verde Dimora, LLC, an Arizona limited liability company.… Read More →

Phoenix medical office market looks healthy, despite political turmoil

Phoenix medical office market

Political uncertainty and the proposed replacement of the Affordable Care Act have many in the healthcare industry wondering what’s next. Despite the current quandary, Metro Phoenix’s medical office market is expected to remain healthy for the foreseeable future following a strong 2016 that produced re-assuring sales and leasing numbers. Sharing their analysis and outlook of last… Read More →

Developers break ground on The Block, largest Scottsdale retail center in five years

Pima Center
by in AZRE Magazine | Construction

MainSpring Capital, developer of the 232-acre mixed-use Pima Center along with Forum Capital, broke ground on its 22-acre retail mixed-use center called The Block. “We are excited to be underway on this dynamic project,” says Curtis Brown, principal with MainSpring Capital Group. “This is the largest retail mixed-use center built in Scottsdale since The Quarter. The enthusiasm from tenants has… Read More →