In The Spotlight Archives

40 companies to watch in 2016

40 Companies to Watch
by in AZRE Magazine | In The Spotlight

Experts say Arizona has said goodbye to the recession and the commercial real estate industry can expect slow, steady growth in 2016. But it takes innovative companies with creative leaders to be catalysts to that growth. AZRE magazine casts a spotlight on 40 leading-edge companies — in alphabetical order — who will likely leave their… Read More →

Experts weigh in on 2016 outlook

2016 Outlook
by in AZRE Magazine | In The Spotlight

The Phoenix economic and commercial outlook has admittedly taken a beating for some time, but Phoenix’s 2016 commercial real estate industry is getting ready for another smooth-inclined ride, and with any luck a few positive bursts in certain markets. Here are local experts’ outlooks for the New Year: Bo Calbert, president, McCarthy Building Companies “If… Read More →

What is the 2016 commercial real estate outlook?

Marina heights dusk(c) 2013 DAVIS
by in AZRE Magazine | In The Spotlight

When Luke Skywalker first cast eyes upon the Millennium Falcon, he was less than impressed. To him it was a “piece of junk.” Although perhaps not viewed as trash, the Phoenix economic and commercial outlook has admittedly taken a beating for some time. Much like Han Solo, however, experts see something in the slow, yet… Read More →

Shopping Malls prepare to make a comeback

rsz_metrocenter_pic
by in AZRE Magazine | In The Spotlight | Retail

If “slow and steady” is the general theme for the 2016 commercial real estate outlook, shopping centers may have a quasi-theme of “rocket boost.” With a lagging economic recovery and what most agree is as an overbuilt retail sector, where exactly will this push occur? The answer may lie in the place most worshipped by… Read More →

Will Ducey’s education plan boost development?

Ducey

The $3.5 billion plan to tap into the State Land Trust could be the answer to settling a long-running lawsuit and put more money into classrooms without raising taxes, but what impact will the plan have on commercial real estate? A voter-approved referendum in Arizona has required lawmakers to provide annual inflation-based increases to K-12… Read More →

Lincoln, Invesco buy Phoenix’s historic Luhrs City Center

Luhrs
by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Lincoln Property Company (LPC) and Invesco Ltd. have purchased the historic Luhrs City Center in downtown Phoenix. The joint venture will next initiate a multi-million-dollar renovation that will evolve the landmark into a mixed-use blend of creative office space, ground floor restaurants and retail – part of a downtown resurgence that includes an active office market,… Read More →

Kitchell completes renovation at Scottsdale Bible Church

Scottsdale Bible Church

Kitchell recently wrapped up its renovation of Scottsdale Bible Church’s Worship Center, a 2,000-seat space with theater-style seats and riser sections that represents a 30 percent increase in capacity. The Worship Center houses the church’s largest functions, including its magical Winter Wonder celebration of the holidays. Upgrades were made to lighting and sound, as well.… Read More →

Central Corridor complex sells for $2.75M

West Glen

ORION Investment Real Estate sold West Glen, a one- and two-story apartment community located at 911 & 917 West Glendale Avenue in Phoenix, for $2,750,000 ($72,368/unit). Constructed in 1954, 1959 and 1963, West Glen is comprised of 38 rental units, which includes a single-family residential home. The property is located in the Central Corridor of Phoenix,… Read More →

Colliers International purchases three multifamily complexes

123rf.com: feverpitched

West Glen LLC, Yotam Shochat, principal, paid $2,750,000 ($72,368 per unit) to buy the 38 unit West Glen apartments located 911 & 917 W. Glendale Avenue in Phoenix, Arizona. The seller was a limited partnership formed by Mentor Properties, Calum DeSouza, principal. The deal was brokered through Bill Hahn, Jeff Sherman and Trevor Koskovich (HSK)… Read More →

Cohen Financial secures $10M acquisition loan

5 C's of Credit

Cohen Financial’s Neal Churney, CCIM, Managing Director of Cohen Financial’s Phoenix office, has secured a $10.335 million acquisition loan for the Villa Del Sol Apartments, a 320 unit multifamily property located in the Southwest Valley area of Phoenix, Arizona. Villa Del Sol is currently 97 percent leased. Mr. Churney arranged the loan with Mutual of Omaha… Read More →

Velocity Retail Group completes high-profile deals

123rf.com: feverpitched

Following is a summary of recent retail transactions completed by Velocity Retail Group, LLC. Goodwill to Replace Former Safeway at 39th Ave. and Pinnacle Peak Velocity Retail Group’s Andy Kroot represented Goodwill of Central Arizona in the lease of a space at the northeast corner of 39th Ave. and Pinnacle Peak Rd. in north Phoenix.… Read More →

BMO Harris moves regional headquarters

Central Arts Plaza

BMO Harris Bank will be the newest tenant in the tower at Central Arts Plaza located at 1850 N. Central Ave. The Chicago-based bank is relocating its regional headquarters from its current location at One Camelback at the southeast corner of Central Avenue and Camelback Road. As part of the lease transaction, the iconic office… Read More →

LGE Design Build completes Peoria CenturyLink building

CenturyLink

LGE Design Build has recently completed a 7,016-square-foot building at 9165 W. Cactus Road, near Loop 101 and Grand Avenue in Peoria, for CenturyLink, a Louisiana-based provider of Internet, TV and voice services. The building is situated on 2.5 acres. The building includes supply, meeting, office, crew and break rooms. CenturyLink started operating in its… Read More →

Redevelopment site in Old Town Scottsdale sells for $22.6M

GetFileAttachment

CBRE has completed the sale of a commercial property poised for redevelopment, which is located at the southeast corner of Camelback and Scottsdale Roads in Old Town Scottsdale. The sale of the ±2.72-acre site (±118,630 square feet) included the ±67,691-square-foot multi-tenant office property at 7201 E. Camelback Road and the ±1,020-square-foot retail property located at… Read More →