In The Spotlight Archives

CCIM Institute certification’s return of investment

CCIM Central Arizona Chapter Logo

Op-Ed by Scott Fey, CCIM, Principal, Omni-American LLC The Certified Commercial Investment Member (CCIM) Institute was established in 1954 to give commercial real estate practitioners a previously unrealized opportunity to further their business practices through focused education and networking opportunities. Today, with the addition of advanced technology tools, CCIM is the global leader in commercial and… Read More →

Freeport Distribution Center sells for $12.17M

Freeport Distribution Center, HFF, WEB

HFF announced today that it has closed the sale of Freeport Distribution Center, a two-building, 219,240-square-foot distribution center in Phoenix. HFF marketed the property on behalf of the seller, IDI Gazeley, part of Brookfield Logistics Properties under the Brookfield umbrella.  An affiliate of Lincoln Property Company purchased the center for $12.17 million free and clear… Read More →

First Commons at West 10 sells for $6.08M

First Commons at West 10
September 15, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Cassidy Turley announced the sale of First Commons at West 10, a ±99,528, institutional-quality, multi-tenant industrial complex. Located at 4625 and 4635 W. McDowell Road, the two-building, general industrial warehouse buildings were purchased by Enright Capital, Calgary, Alberta for $6.08 million. The seller was MDI Capital. Cassidy Turley Senior Managing Directors Bob Buckley, Tracy Cartledge… Read More →

TicketForce to create mixed-use development in Gilbert

TicketForce-PERS-Hi-res, WEB

A new mixed-use building is coming soon to downtown Gilbert featuring more than 13,000 square feet divided into three stories, a commitment to social responsibility and uniquely: a plan to only house local Arizona businesses. Gilbert residents and owners of East Valley-based ticketing company, TicketForce, Brad Smith and Lynne King Smith, closed last month on… Read More →

Gould Evans hires three staff members

Ed Perez

Multi-disciplinary design firm Gould Evans’ Phoenix studio has added key staff members in three of its specialty areas: architecture, interiors and graphics. Since 2007, Gould Evans has worked to build an integrative design staff that is focused on assisting clients in solving complex design problems across markets. These new Gould Evans associates help “connect the… Read More →

Paradise Arbor apartments sell in Phoenix for $1.176M

Paradise Arbor Apartments, ABI, WEB
September 15, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ABI Multifamily, a multifamily brokerage and advisory services firm, announced the sale of Paradise Arbor, an apartment community located in Phoenix. The 28-unit garden-style community was originally built in 1985, with renovations in 2011 and 2012, and sold for $1,176,000 or approximately $42,000 per unit. “This is a well constructed all two bedroom community located… Read More →

Op-Ed: New ROC regulatory philosophy triggers need for self-audits

SMACNA Arizona

By D. Kim Lough, construction lawyer with Jennings, Haug & Cunningham Contractors throughout Arizona are being blindsided by a new administrative oversight role undertaken by the Registrar of Contractors (ROC). The Registrar’s new prosecutorial philosophy toward investigating complaints against licensed contractors places contractors at risk of losing their license for minimal technical violations which may… Read More →

Tanque Verde apartments in Tucson sell for $21.3M

Tanque Verde, WEB
September 15, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

CBRE has completed the sale of the Tanque Verde apartment complex, 428-unit multifamily community located at 7671 E. Tanque Verde Road in Tucson, Ariz. The multifamily asset sold for $21.3 million. The property was 94 percent leased at time of sale. Michael Sandahl and Wyatt Campbell with CBRE’s Tucson office, along with Tyler Anderson, Sean… Read More →

Pima Norte signs three tenants

PIma Norte, Courtesy of Whitestone REIT
September 15, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Whitestone REIT (“Whitestone”), a fully integrated real estate company that owns, operates and re-develops Community Centered Properties, welcomed new tenants Berkshire Hathaway HomeServices Arizona Properties, Carefree Movement and KT Financial at the Pima Norte property located just north of Scottsdale, Ariz., in the Carefree and nearby Cave Creek area. Pima Norte, an executive office and… Read More →

Bob Kline joins Cushman & Wakefield capital markets group

Signaling a move to expand its Capital Markets platform, Cushman & Wakefield has added a capital markets and commercial real estate veteran to its leadership roster. Bob Kline of RW Kline Companies has joined the firm as Senior Managing Director of the Equity, Debt and Structured Finance Group (EDSF). Kline was previously CEO of the… Read More →

$150M Chandler Viridian project zoning entitlement approved

Map, Colliers, WEB

The Chandler City Council on Thursday night approved zoning and a development agreement for Hines to develop the Chandler Viridian mixed-use project located near the Chandler Fashion Center and Loop 101/Loop 202 interchange. The 25-acre project will include a modern brand hotel, Class A multi-family and a central plaza with 250,000 square feet of Class… Read More →

Alliance Residential’s Bruce Ward named 2014 ‘Executive of the Year’

Bruce Ward, Alliance Residential

Alliance Residential Company announced that Bruce Ward, the company’s chairman and CEO, has been named the 2014 Executive of the Year by Multifamily Executive, one of the leading trade publications for the multifamily housing industry. One of the most prestigious honors of the multifamily industry, the Executive of the Year Award is given annually to… Read More →

IPA, Retirement Community Specialists join forces

Rendering of Generations at Agritopia (a sister property). Renderings of the Ahwatukee location are not yet completed.

IPA, a leading operator of luxury multifamily communities in Arizona and Michigan, and Retirement Community Specialists, Inc. (RCS), a leading operator of luxury senior housing communities in Arizona, recently announced they have joined together under the same umbrella company, IPA, LLC. RCS and IPA now operate together under the direction of a combined executive team… Read More →

Crust Pizza signs 10-year least at Crowne Plaza San Marcos

Crowne Plaza San Marcos
September 11, 2014 by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Colliers International in Greater Phoenix recently negotiated a 10-year restaurant space lease at Crowne Plaza San Marcos Golf Resort and Hotel in Chandler. Crust Management, LLC, of Phoenix, leased 6,550 square feet, 2,850 square feet of which is in the basement of the resort located at 1 San Marcos Place. Crust was represented by Ken… Read More →