In The Spotlight Archives

Alliance Residential promotes leaders to President, COO and CFO roles

Jay Hiemenz, Alliance Residential

Alliance Residential, a national multifamily acquisitions, development, construction and management company, announced the promotions of V. Jay Hiemenz to President and Chief Operating Officer, and Bob Weston to Chief Financial Officer. These leaders will oversee operational and financing efforts respectively, of the company’s approximate $2 billion production pipeline and 70,000 units under management. “Alliance is… Read More →

Chandler opens RFP for retail, entertainment

rsz_chandler_logo

The City of Chandler is looking for proposals to add mixed use development, including retail and entertainment to its downtown. The City has opened a Request for Proposals (RFP) for the 4.6-acre property located on the southwest corner of Chandler Boulevard and Arizona Avenue commonly known as Sites 1-2-3. This property acts as the northern… Read More →

Design firm brings ‘lifestyle experiences’ to multifamily properties

rsz_cabanamcclintockafterlarge1

Developing apartments just isn’t what it used to be. Today’s renter is a hipper, more sophisticated and savvier-than-ever consumer seeking affordable living spaces that are designed with their lifestyle in mind. The boring beige apartment complexes that saturate our Phoenix skyline have given way to design-oriented places to live that are being styled – and… Read More →

Online advertising co-op signs lease at SkySong 3

SkySong III

An advertising innovator changing the way companies advertise online will set up shop at SkySong 3 early next year. The company, adhesive.co, is relocating from east Indian School Road and will begin its five-year lease at SkySong on January 1, 2015. The layout of the space will be in line with the online ad company’s philosophy of a creative and collaborative environment.… Read More →

Triple-net leased Fresenius Medical Care Building sells for $1.75M

Fresenius Medical Care Building, Colliers, WEB

Colliers International in Greater Phoenix has recently completed the sale of the triple net leased Fresenius Medical Care Building in Chandler for $1.725 million, or $232 a square foot. Prescott-based Cowboy Town, LLC, purchased the building, located at 912 W. Chandler Blvd., from 912 A&D Chandler, LLC, of La Habra, Calif. This facility, used as… Read More →

Culinary Dropout concept comes to Tempe this fall

Courtesy of Fox Concept Restaurants

Fox Restaurant Concepts (FRC) and development partner, Brian Frakes, plan to open the first East Valley Culinary Dropout location in October 2014 on First Avenue and Farmer Avenue in Tempe, Ariz. Known for their innovative restaurant concepts, FRC is planning their largest project to date with this Culinary Dropout location at Farmer Arts District at… Read More →

Cresa executes disposition and new lease for 3M Company

Tenant representation firm Cresa announced that it had executed the disposition of a 270,890 SF building and 42 acres of land for $31.91 million in Ontario, Calif., for 3M Company. As part of the transaction, Cresa Phoenix negotiated a 10-year lease on a 454,877 SF distribution facility to be constructed on a vacant parcel nearby.… Read More →

NAIOP: Commercial real estate strongest since economic recovery

Commercial Real Estate Market - AZRE Magazine March/April 2011

The commercial real estate development industry grew at the strongest pace since the economic recovery began in 2011, according to an annual report on the state of the industry released today by the NAIOP Research Foundation.  The report, entitled “The Economic Impacts of Commercial Real Estate,” determined that the economic impact realized by the development… Read More →

California investor purchases Westwood Business Park for $7.4M

WestoodBusinessCenter, WEB

Cassidy Turley announced the $7.4 million ($80.88/psf) sale of Westwood Business Park, a Class B office development at 2222-2228 West Northern Avenue in the Northwest Phoenix Submarket. California-based LBK Trust III purchased the property from Nebraska-based MJA Holdings, LLC. Cassidy Turley Executive Managing Director Eric Wichterman and Senior Vice President Mike Coover negotiated the transaction… Read More →

NAIOP Arizona urges FAA to retract proposed OEI procedures

The Maricopa County Court Tower in Downtown Phoenix exceeds the OEI criteria by more than 25 feet.

The Arizona Chapter of NAIOP has urged the Federal Aviation Administration to retract the proposed One Engine Inoperative (OEI) Procedures in the Obstruction Evaluation Studies published in the Federal Register on April 28. “While  NAIOP-AZ fully supports the FAA’s role to oversee aviation safety, we oppose this proposed OEI policy, note that it does not… Read More →

Isagenix International comes to Rivulon development

Isagenix Entryway Rendering

Columbus-based Nationwide Realty Investors announced today that it has signed a lease with Arizona based health and wellness leader Isagenix International, LLC to occupy a 3-story single-tenant building at its master-planned Rivulon development in Gilbert, Ariz. Also completed is a land swap agreement with LA Fitness. Nationwide Realty Investors President and COO Brian J. Ellis… Read More →

Cassidy Turley awarded leasing of 300KSF Walmart power center

GreenfieldGateway, Cassidy Turley, Wal-Mart, WEB

Cassidy Turley announced it has been engaged by Greenfield Gateway Retail Investments for the marketing and leasing assignment of Greenfield Gateway in Mesa, Ariz. The assignment consists of a 300,000 square foot shopping center anchored by Walmart Supercenter and Sportsman’s Warehouse. Cassidy Turley Vice President Brent Mallonee is now leasing the property. “We are excited… Read More →

McCarthy awarded Verrado Heritage K-8 school project

Victory at Verrado

McCarthy Building Companies was recently awarded a preconstruction services contract by the Litchfield Elementary School District (LESD) for the estimated $12 million Verrado Heritage Elementary School, located just west of Verrado Way and north of Thomas Road in Buckeye, Ariz. McCarthy will begin work on the new 80,500-square-foot K-8 school in August. The school will include… Read More →

New City Church buys office shell in downtown Phoenix

Photo credit CoStar

Colliers International in Greater Phoenix has recently completed the sale of a Class C office shell in downtown Phoenix for $2.3 million, or $130 a square foot. Phoenix-based New City Church purchased the building, located at 1300 N. Central Ave., from Drapac Group of Los Angeles. The New City Church has experienced tremendous growth in… Read More →