Business News Archives

Karlin Real Estate Sells Scottsdale Neighborhood Center for $44.5M

February 10, 2014 by in Brokerage | Business News

Cassidy Turley announced the completed the sale of Shea Scottsdale to an entity formed by Jerry Simms for $44.5M. Shea Scottsdale, 10653 N. Scottsdale Road, is a 160,228 SF retail center anchored by Safeway and CVS Pharmacy. The seller was Karlin Real Estate, based in Los Angeles. Executive Managing Directors Michael Hackett and Ryan Schubert… Read More →

Microchip Announces Acquisition of Supertex

Steve Sanghi - Microchip Technology
February 10, 2014 by in Business News | Tech

Microchip Technology Incorporated (NASDAQ:MCHP), a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, and Supertex Incorporated (NASDAQ: SUPX) today announced that Microchip has signed a definitive agreement to acquire Supertex for $33 per share in cash, which represents a total equity value of about $394 million, and a total enterprise value of about $246… Read More →

CBRE Releases Recent Tucson Transactions

5555 Broadway, WEB
February 10, 2014 by in Brokerage | Business News

CBRE has recently leased two retail spaces totaling 5,522 SF located at the 5555 Broadway Center in Tucson. The redevelopment project was formerly home to a Mervyn’s department store. The site, which sits at the northeast corner of Broadway Boulevard and Craycroft Road, is anchored by Hobby Lobby and Stein Mart. Nancy McClure and Michael… Read More →

Quarles & Brady's Funkhouser earns award from Iowa

February 8, 2014 by in Business News | Legal

The national law firm of Quarles & Brady LLP today announced that David E. Funkhouser III, a partner in the firm’s Phoenix office, has received the Recent Alumni Award from the University of Iowa College of Law. The Recent Alumni Award is granted to alumni of the College of Law, within the first 10 years… Read More →

The Aetna Foundation Grants $30,000 to Esperança


The Aetna Foundation has awarded grant funding in the amount of $30,000 to Esperança for Salud con Sabor Latino (Health with a Latin Flavor).  The funding provided will allow Esperança staff to provide nutrition, healthy eating and physical activity education to un-and-under-insured families living in poverty in the Phoenix metro area. Residents are primarily Latino… Read More →

Goodwill Promotes Robin Franklin

Goodwill of Central Arizona has promoted Robin Franklin to senior director of commercial maintenance. Robin has been with Goodwill for three years, beginning as director of exterior services.  Under Robin’s leadership, the exterior services division aggressively and successfully grew from almost nonexistent just a few years ago, to over $1.5 million in revenue in 2013.… Read More →

AZ's First Multi-Builder Community for Baby Boomers


DMB Associates announced today the four builders that will construct homes at Victory, Arizona’s first multi-builder community for people 55 years and better which will be located in the multi-generational community of Verrado. Only four homebuilders were selected among the interested top local and national homebuilders. The Phase One roster includes Lennar (NYSE: LEN), Maracay… Read More →

Scottsdale Mortgage Company Announces Expansion


In a move that will position Arizona-based mortgage company, V.I.P. Mortgage, Inc., to contend for becoming the largest privately held mortgage company in southern Arizona, the company announced that it will add more than 65 employees. As part of this increased presence in southern Arizona, mortgage industry veteran Hunter H. Sampsel has joined V.I.P. Mortgage… Read More →

Educare Arizona Names New CEO

John Scola has been named Chief Executive Officer of Educare Arizona. Scola brings with him over twenty-five years of leadership, fundraising, board development and strategic planning experience in Arizona and California. He holds a B.A. in Economics from the University of Dallas and is a Certified Fund Raising Executive. Scola has served on various boards… Read More →

Velocity Retail Releases Recent Transactions List

February 7, 2014 by in Business News

Velocity Retail Group, LLC completed eight transactions in January including two big box deals. The new stores will be located in California, Phoenix, Yuma and Tucson. A summary of each transaction follows: Andy Kroot of Velocity Retail Group represented Goodwill Industries of Central Arizona in a 15-year lease of 20,000 square feet at Fortuna Commons… Read More →

New Surprise College Spotlights Health Information

The College of St. Scholastica has opened its first venue in Arizona at the Communiversity @ Surprise, a higher education center at 15950 N. Civic Center Plaza in Surprise. The Communiversity, which opened in 2009, is a partnership among six schools: Glendale Community College, Phoenix College, and Rio Salado College (all part of the Maricopa… Read More →

CBRE to Market Liberty Center at Rio Salado in Tempe

February 6, 2014 by in Brokerage | Business News

CBRE has been awarded the marketing assignment for the +/- 800,000 SF office portion of Liberty Center at Rio Salado, the ±1 million-square-foot, mixed-used project being developed by Liberty Property Trust. The ±100 acre property will focus on high-performance buildings with a sustainable design at the northwest corner of Rio Salado Parkway and Priest Drive… Read More →

De Rito Partners Announces New Land Development Entity

De Rito Partners, Inc. Arizona's Retail Experts
February 6, 2014 by in Business News

Commercial retail brokerage firm De Rito Partners announced the addition of its newest entity, De Rito Land Development, LLC,a commercial land development company specializing in new grocery-anchored and other commercial neighborhood shopping centers. De Rito Land Development will focus on land acquisition and commercial development to include negotiating joint venture agreements, developing retail shopping centers including… Read More →

REIAC Forms Alliance with MRED Program at W. P. Carey School of Business

McCordHall, WEB
February 6, 2014 by in Associations | Business News

The Southwest Chapter of REIAC, an organization of real estate executives involved in developing, acquiring and/or financing real estate, has formed a partnership with Arizona State University’s Masters of Real Estate Development (MRED) program at the W. P. Carey School of Business. REIAC has provided $5,000 in scholarships for the 2013-14 academic year and recently… Read More →

Café Rio Leases Space at Santan Village

cafe rio, WEB
February 6, 2014 by in Brokerage | Business News

SRS Real Estate Partners announced that Café Rio, a fresh Mexican food restaurant, has leased a 3,300-square-foot space located at the southwest corner of Santan Village Parkway and Loop 202 in Gilbert, Ariz, their fourth location in the valley.  Café Rio uses inspired recipes and traditional cooking of Northern Mexico’s Rio Grande, Southern Texas, and… Read More →

California Developer Enters Phoenix Market With $6.95M Industrial Buy

420 S 53rd Ave, WEB
February 6, 2014 by in Brokerage | Business News

Overton Moore Properties (OMP), a Gardena, Calif.-based development company purchased a 127,680 SF warehouse facility at Freeport Center, 420 S. 53rd Ave., Phoenix for $6.95M ($54.43 PSF). The price included a 2.09 acre site adjacent to the building. The recently closed transaction marks Overton Moore’s entry into the Phoenix commercial real estate market. OMP acquired… Read More →

Cushman & Wakefield Awarded USA Place Leasing Assignment

USA Place rendering, WEB
February 6, 2014 by in Brokerage | Business News | Newsmakers

Cushman & Wakefield of Arizona, Inc. has been awarded the exclusive retail leasing assignment of 180,000 SF at USA Place, a 10.7-acre mixed-use development that will serve as the new home of USA Basketball. “This project will be a draw to a diverse group of consumers,” said Summer Jackson, associate director with Cushman & Wakefield’s… Read More →

Rural/Metro Corp. Selects Pima Office Pavilion in Scottsdale for HQ

PimaCM, Transwestern
February 6, 2014 by in Brokerage | Business News

Transwestern announced Wednesday it brokered a long-term lease with Rural/Metro Corp. for 90,500 SF of Class-A space in the Pima Office Pavilion. The Scottsdale-based provider of private ambulance and fire protection services in 21 states and nearly 700 communities will establish its new national headquarters at the Pavilion, located at 8465 N. Pima Rd. “Rural/Metro… Read More →

Lovitt & Touché Launches Private Healthcare Exchange

February 6, 2014 by in Business News | Events | Healthcare

Lovitt & Touché today announced the launch of ClearPath Prime, a newly designed private exchange that allows employers to manage the selection of employee healthcare benefits. An industry leading technology platform, ClearPath Prime is designed for employers to customize a menu of benefit options, allowing employees the flexibility of determining the plan that best suits… Read More →

Banner Health completes acquisition of Casa Grande hospital


Banner Health and Regional Care Services Corporation, the parent company of Casa Grande Regional Medical Center (CGRMC), have signed an Asset Purchase Agreement (APA), an important milestone that moves the acquisition process of Casa Grande Regional Medical Center by Banner forward. The APA describes the financial details of the acquisition. The completion of the APA… Read More →

Discount LPGA tix benefit local hospitals

February 6, 2014 by in Business News | Events | Sports

The LPGA Founders Cup has teamed up with Scottsdale Healthcare to donate 100 percent of proceeds to charity from Good Any Day Tickets and Weekly Badges purchased through for the LPGA Founder’s Cup, March 18-23 at Wildfire Golf Club at the JW Marriott Desert Ridge Resort and Spa. The charity ticket program offers a… Read More →

Gore Launches Expanded Treatment Portfolio


W. L. Gore & Associates, Inc. (Gore) has announced the Australia and New Zealand launch of an expanded treatment range, including lower profile components for the GORE® EXCLUDER® AAA Endoprosthesis used to treat abdominal aortic aneurysms (AAAs). The 31 mm trunk-ipsilateral component and 32 mm aortic extender will be used with an 18 Fr and… Read More →

Squire Sanders' Crabb Earns All-Star Status


Squire Sanders announced that Phoenix-based Partner Joe Crabb has been selected, for the second year in a row, by corporate counsel to the 2014 BTI Client Service All-Stars list. This recognition is awarded to lawyers in the US who differentiate themselves from all others, through excellence in client service. Joe is one of only 56… Read More →

DAUM Commercial Real Estate Release Recent Transactions

5225 S. 31st Place
February 5, 2014 by in Brokerage | Business News

DAUM sells Southern Gardens Industrial Park DAUM Commercial Real Estate Services announced that it represented the seller, RJK Realty LLC, in the sale of a 28,918 SF industrial building located in Phoenix. Steve Bodeman of DAUM’s Phoenix office represented the seller in this $1.3M transaction. The building is located at 5225 S. 31st Place in… Read More →