AZRE Magazine Archives

4-story offices sell for $5.5M near 7th Street and Bethany Home Road

The 4-story office in Phoenix near 7th Street and Bethany Home Road at 5727 N. 7th Street in Phoenix. (Photo courtesy of Davis Enterprises)
by in AZRE Magazine | Office

A four-story, 46,326-square-foot multi-tenant office building located at 5727 N. 7th St. in Phoenix has sold for $5.5 million, according to Davis Enterprises sellers of the building. The buyer, Gary Hewson Jr. of Hewson Investment Group, acquired the property and was represented by Patrick Burch of ABI Multifamily. The 2.26 acre property is in the middle of… Read More →

Industrial building at Freeport Center sells for $4.7M

Freeport Center
by in AZRE Magazine | Industrial

Four Lee & Associates brokers recently negotiated the $4,700,000 all-cash sale of a 75,786-square-foot industrial warehouse building at Freeport Center, 5520 W. Maricopa St., Phoenix. The price per-square-foot was $62.02. Lee & Associates Principals Allen Lowe and Steve Farrell negotiated on behalf of the seller, Maricopa-Phoenix (KBP), LLC. Principals Rick Robertson and Scott Smith represented… Read More →

Construction starts on Tempe mixed-use project at University Drive and Forest Avenue

the-opus-group_rendering_tempe-mixed-use-project-2
by in AZRE Magazine | Construction | Mixed-Use

The Opus Group started construction on a 407-unit residential and retail mixed-use development in Tempe. The project covers nearly an entire city block on the northwest corner of University Drive and Forest Avenue and will transform a surface parking lot into high-rise apartments and retail. The project is owned by a joint venture partnership between Opus… Read More →

Self-storage facility sells for $14M

Self-storage facility
by in AZRE Magazine

Gateway Mini-Storage LLC, located at 5750 S. Power Rd., in Gilbert, Ariz., recently closed for $14 million. NAI Horizon Senior Vice President Denise Nunez exclusively marketed the property on behalf of the seller, Circle G Property Development of Gilbert, Ariz. Nunez also secured the buyer, a national self-storage real estate investment trust. The price is… Read More →

Walgreens anchored shopping center sells for $14.75

Walgreens
by in AZRE Magazine | Retail

Cushman & Wakefield negotiated the sale of Bell Tower Village, a Walgreens anchored community shopping center located on the southeast corner of Bell Road and 51st Avenue in Glendale, Ariz., which sold for $14.75 million. New Bell Tower LLC – a company formed by DPC Development Company, purchased the shopping center. Cushman & Wakefield Executive Managing… Read More →

Westgate will add more than 100 jobs with newest office tenant

Westgate entertainment district
by in AZRE Magazine | Office

Westgate Entertainment District will welcome more than 100 new jobs when its newest office tenant, Ring, opens a Customer Service Center at the district in March 2017. This will be the second Valley location for California-based security company, which has a location in Scottsdale. Ring’s flagship product, Ring Video Doorbell, is a unique security solution… Read More →

Daum negotiates $1.9M Phoenix industrial sale

Daum
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services negotiated the $1.9 million sale of a 78,171-square-foot office/warehouse building set on 4.8 acres located at 4645 W. Van Buren St. in Phoenix. Skip Corley with Daum Phoenix represented the seller, Nebraska-based BM&J Phoenix LLC, in the fully-leased investment sale transaction. The buyer of the office facility was Gonzales Family Trust… Read More →

$15M First Place-Phoenix breaks ground

A rendering of First Place-Phoenix, a $15 million residential facility for adults with autism and different abilities. (Rendering courtesy of First Place AZ)
by in AZRE Magazine

First Place AZ broke ground Tuesday on First Place-Phoenix, a new $15 million residential property for adults with autism and different abilities. The facility will house apartments, a residential training program and a national leadership institute to advance more independent and community integrated living options. Hardison/Downey construction of Phoenix is the general contractor and RSP Architects of Tempe… Read More →

CBRE helps Liftable Media buy new corporate HQ

CBRE
by in AZRE Magazine | Office

Digital publisher Liftable Media Inc. purchased approximately 27,000 square feet of office space at Venture Court, located in the heart of Anthem, Arizona, for $1.98 million, according to CBRE. Originally constructed in 2008, Venture Court Building F is a 2-story office space that prior to being purchased by Liftable Media remained in shell condition. West Coast… Read More →

Orcutt | Winslow relocates HQ next door on Central Corridor

Orcutt | Winslow
by in AZRE Magazine | Brokerage | Office

The Phoenix office of JLL has completed a 21,390-square-foot, long-term lease that relocates the corporate headquarters of Orcutt | Winslow into a new building on the Central Corridor, continuing the architecture, planning and interior design firm’s decades-long presence in metro Phoenix’s Central Business District. The new lease moves Orcutt | Winslow from Phoenix Corporate Center, at 3003 N. Central Ave., into… Read More →

Caliber acquires Hilton Phoenix Airport Hotel

Hilton Phoenix Airport Hotel
by in AZRE Magazine

Caliber – The Wealth Development Company  closed on its largest acquisition to date, a four story, 259-guest room hotel, the Hilton Phoenix Airport Hotel, for $37.72 million. A Caliber entity, 47th Street Phoenix Airport LLC, purchased the hotel, which is located near Phoenix Sky Harbor International Airport at 2435 S. 47th St., Phoenix, Ariz. Caliber also owns… Read More →

Construction job growth accelerates in November

Construction Materials
by in AZRE Magazine | Construction

The U.S. construction industry added 19,000 net new jobs in November and has now added jobs for three consecutive months, according to analysis of U.S. Bureau of Labor Statistics data released Friday by Associated Builders and Contractors (ABC). Industry employment is up by 2.4 percent on a year-over-year basis, considerably faster than the overall economy’s 1.6… Read More →

Downtown Tucson lands first hotel in 30 years

A rendering of the AC Hotel Tucson by Marriott, which will be the first hotel built in Downtown Tucson in more than 30 years.(Provided rendering)
by in AZRE Magazine | Hospitality

In the last 10 years, Downtown Tucson has seen massive revitalization. New restaurants, the renovation of historic theaters, the modern streetcar line and retail have brought the district back to life. The one thing missing? A modern hotel. If fact, AC Hotel Tucson by Marriott will be the first hotel built in Downtown Tucson in… Read More →

ULI report: Demographic shifts will keep suburbs thriving

Photo: welcomia / 123RF Stock Photo
by in AZRE Magazine

Suburban housing markets across the United States are evolving rapidly and overall remain well-positioned to maintain their relevance in the years ahead as the places where most Americans live and work, even as many urban cores and downtown neighborhoods continue to attract new residents and businesses, according to a new publication from the Urban Land… Read More →