In The Spotlight Archives

Sperry Van Ness wins several awards at national conference

SVN Headshots, WEB

Each year, hundreds of advisors from Sperry Van Ness offices around the country meet to discuss company goals, share best practices and honor the offices and individuals excelling in their business at the SVN National Conference. The Phoenix Sperry Van Ness office collected several awards for outstanding achievements in 2013, including once again being named… Read More →

Deco Communities announces Edison Midtown in Phoenix’s Central Corridor

Courtesy of Deco Communities

Midtown Phoenix is getting a hip new neighbor. Scottsdale-based Deco Communities has closed on a key parcel of land that will be transformed into Edison Midtown, a new urban contemporary condominium in the heart of Phoenix’s urban core. Located at 2346 N. Central Ave. the address says it all, Edison is central to Midtown’s buzzing… Read More →

The Weitz Company announces in-house design services, new office

Weitz Logo

The Weitz Company announced the expansion of its construction service offerings with in-house design engineering and the opening of a new design-build office in the Minneapolis, Minn., area. “This is a by-product of our continuing growth,” said Len Martling, President and Chief Executive Officer of The Weitz Company. “Our new in-house design team—led by Minnesota-based… Read More →

Valley Partnership Reviews Sites for 2014 Community Project

The Valley Partnership Community Project Committee toured nonprofits Arizona Foundation for the Handicapped, Boys Hope Girls Hope and Valley Life.

Inspiring and heart-rending. Those two words stuck in my mind all day as the Valley Partnership Community Project Committee toured the sites recently and met with officials of the three finalists for the 2014 event. All three nonprofit organizations opened up their worlds to us and gave us an opportunity to learn more about them… Read More →

HFF arranges $14M in joint venture equity for Scottsdale condo project

Envy Condominiums rendering, WEB

HFF announced today that it has arranged $14M in joint venture equity for the development of Envy, a 90-home, mid-rise condominium project in downtown Scottsdale’s Entertainment District. HFF worked on behalf of the borrower, Deco Communities, to secure joint venture equity from an alternative investment manager. Envy will be situated on a one-acre site at… Read More →

Hunt Construction Group announces change in leadership

Fratianni, WEB

Hunt Construction Group’s Chairman Robert G. Hunt announced Monday that Michael Fratianni has assumed the role of President and Chief Executive Officer for Hunt Construction Group, Inc.  Fratianni is a 28-year veteran of Hunt having worked his way through the ranks of the organization. In his new position, Fratianni will focus on strategy and vision,… Read More →

Sundt Construction breaks ground on Friendship House at Royal Oaks

Friendship House, WEB

Sundt Construction has broken ground on the Friendship House at Royal Oaks Lifecare Retirement Community in Sun City, Ariz. The $13.6M project is a two-story memory care facility designed to provide lifestyle-focused accommodations for Royal Oaks residents with varying levels of cognitive needs. This is Sundt’s sixth project for Royal Oaks, speaking to the longstanding… Read More →

Colliers International Completes $43.1M Sale of 183KSF Office in Chandler Price Corridor

2700 W. Frye Rd., Chandler

Colliers International in Greater Phoenix recently completed the sale of a 183KSF, Class-A office building in Chandler for $43.1M, or $235.50 a square foot. W. P. Carey Inc., a global net-lease REIT based in New York City, purchased the building at 2700 W. Frye Rd. in Chandler from Regent Properties of Los Angeles. Neil Glassmoyer,… Read More →

Keyser Merges With Catalyst Commercial Group

Catalyst, WEB

Catalyst Commercial Group, a leading retail commercial real estate advisory firm exclusively serving the national, regional and local space needs of retail and restaurant tenants, announced today that they have entered into an agreement to merge with Keyser to create the largest, multi-platform tenant representation firm in Arizona. “We are very excited to announce this merger… Read More →

Av-Air breaks ground on 162,500 SF, multi-building project totaling $15M

av air front-S2, WEB

Arizona-based Av-Air, Inc. has hired Sun State Builders to construct its new two-building, 162,500+ SF headquarters for a total project cost of nearly $15M. The 6.17-acre parcel at 6877 W. Frye Rd., Chandler, Ariz., fronts the Loop 202 Freeway in Santan Technology Park. Av-Air purchased the property and broke ground soon after. Andy Ogan, Principal… Read More →

5 Facts About WestWorld’s Tony Nelssen Equestrian Center

WestWorld, WEB

WestWorld’s Tony Nelssen Equestrian Center (16601 N. Pima Rd.) in Scottsdale is a 310KSF exhibition space completed Dec. 23, 2013. WestWorld hosts exhibits year-round, from the Barrett-Jackson Auto Auction to the Arabian Horse Show and AZ Big Media’s Scottsdale Home & Garden Show. The equestrian center recently received an honorable mention at the AZRE RED… Read More →

128-Unit Senior Housing Community Comes to Ahwatukee

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

Investment Property Associates, LLC (IPA) and Retirement Community Specialists (RCS) have partnered for a second time to develop a senior living community in Ahwatukee near the southwest corner of Chandler Boulevard and 50th Street.  The 8-acre site of the planned senior community is part of a 35-acre mixed-use parcel acquired by IPA in 2012. The… Read More →

CBRE Releases Recent Leasing Transactions in Tucson

2127 E. Speedway
March 24, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

CBRE’s Tucson office has released the following recent leasing transactions for the greater Tucson area:   Chuy’s restaurants have leased 2,400 SF of retail space at Capin Plaza located at 8195 N. Oracle Rd. in Tucson. CBRE’s Jayme Fabe negotiated on behalf of the landlord, Capin Family Trust of Tucson. The tenant was represented by… Read More →

Monterey Pines in Peoria Sells for $10.8M

Monterey Pines, WEB
March 24, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Marcus & Millichap announced the sale of Monterey Pines, a 216-unit apartment home community in Peoria, Ariz., a suburb of Phoenix. The $10.8M sales price equates to $50,000 per unit. Cliff David, a Marcus & Millichap vice president investments, and Steve Gebing, a senior director with Institutional Property Advisors, a Marcus & Millichap company, both… Read More →

Legacy Capital’s Keaton Merrell Named NAIOP Outstanding Chapter President of the Year

Keaton Photo 3.19.14, WEB

Keaton Merrell, co-founder of Legacy Capital Advisors, Phoenix, was recently named Outstanding Chapter President of the Year for the National Association of Industrial and Office Properties (NAIOP) at the Chapter Leadership and Legislative Retreat in Capital Hilton, Washington, D.C.   As part of the 2014 NAIOP Chapter Merit Awards, Merrell was recognized for his 11… Read More →

CBRE Completes $18.4M Sale of Rimrock at ASU Research Park

RimRock2030, WEB

CBRE has negotiated the sale of the leasehold interest in Rimrock at ASU Research Park in Tempe, Ariz. The two-building, ±83,764 SF office complex located at 2030 and 2050 E. ASU Cir. in Tempe. commanded a sale price of $18.4M. The project was 93 percent leased at time of sale.   Bob Young, Steve Brabant,… Read More →

Marcus & Millichap Sells 32-Unit Multifamily Asset in Phoenix

Lexington Court Apartments, WEB

Marcus & Millichap Real Estate Investment Services has announced the sale of Lexington Court Apartments, a 32-unit apartment community located in downtown Phoenix. The asset commanded a sales price of $1.7M or $53,125 a unit. Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing assignment to… Read More →

As Phoenix Suburban Office Markets Recover, Skyline Poised to Follow

JLL Report

“Game on” seems to be the sentiment of Phoenix office tenants as they continue to bounce back from the recession, albeit with smaller work spaces that must achieve greater efficiencies with a reduced footprint. Suburban office markets—primarily in Tempe, Chandler and the Camelback Corridor—that are close to employees and offer higher-density parking are leading this… Read More →

Groundbreaking Arrives for Phase I of Airport I-10 Business Park

Oblique & Renderings of Airport I-10-1

Groundbreaking day has arrived for the first phase of Airport I-10—a Wentworth Property Company/Clarion Partners Class-A industrial project being leased by the Phoenix office of JLL that, at completion, will represent one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history. Located at the northwest corner of 24th Street and Rio Salado,… Read More →

RED Development Announces Lewis Roca Rothgerber Move-In and Strategic Renovations to Collier Center

Collier Center Conceptual Rendering, WEB

RED Development announced today that law firm Lewis Roca Rothgerber has moved its Phoenix offices to Collier Center, a property that is a recent management venture for RED. The law firm has taken nearly 70,000 square feet of office space that is considerably more efficient than the firm’s former location and accommodates Lewis Roca Rothgerber’s… Read More →

JLL Brokers $17M Meritex Entry into Phoenix Industrial Market

JLL 21410 Deer Valley, WEB

Meritex announced today its entry into the Phoenix market with the acquisition of a two-building industrial portfolio totaling 193,366 SF. The Class-A properties are located at 21410 and 21415 N. 15th Ln. in Deer Valley, Ariz. “We are excited about the addition of the Deer Valley properties to our portfolio and our entry into the… Read More →

Safeway sale creates looming cloud over Phoenix retail real estate market

Shea Scottsdale Safeway

Over the past two years, the Phoenix retail real estate market continues to improve with lowered vacancy rates and strong absorption. The one area that persists as a cause for concern is the number of vacant big boxes in the market. With the recent announcement of the impending sale of Safeway to one or more… Read More →

Colliers: Transaction Activity Mixed, But Land Prices Continue to Push Higher

Deal, WEB

Colliers International of Greater Phoenix has issued the 2H 2013 Phoenix land report. We’ve included the highlights with a link to the complete report below. ·         The Greater Phoenix housing market is posting price gains, but the pace of appreciation has been slowing in recent months after being among the top-performing markets in the country… Read More →

Charles Dalluge Joins DLR Group as President and Chief Operating Officer

Dalluge Charles, WEB

DLR Group announced today that Charles Dalluge, Associate AIA, has joined the firm as president and chief operating officer. He will be part of the firm’s executive leadership team and responsible for leading and managing operations in DLR Group offices across the United States and internationally. The firm currently serves clients from 19 U.S. locations… Read More →