In The Spotlight Archives

Sundt to build temporary lodging at Luke AFB

Courtesy of Sundt

The U.S. Air Force 56th Contracting Squadron recently selected Sundt Construction, Inc. as the general contractor for a new temporary lodging facility at Luke Air Force Base in Glendale, Ariz. The $8.9 million, 42,000-square-foot project includes construction of four single-story lodging facilities with 28 units, providing Air Force personnel with short-term, quality housing accommodations as… Read More →

BOMA Greater Phoenix hosts inaugural industrial summit

LBAPhxIndustrial, WEB

The industrial market is hot, leading the way for both investment and development prospects in 2014 with expected prospects rising to almost the same level as the apartment sector last year. BOMA International is partnering with BOMA/Greater Phoenix to present its first Industrial Summit on Nov. 5 at the Renaissance Hotel Downtown Phoenix, 50 E.… Read More →

Tuft & Needle relocates to Phoenix’s warehouse district

605 E. Grant, Tuft and Needle, CushWake, WEB

Tuft & Needle, a startup mattress company, is relocating its headquarters to the Levine Machine Building in Downtown Phoenix’s warehouse district. Cushman & Wakefield of Arizona, Inc. negotiated a 5-year lease as Tuft & Needle relocates from Tempe to a 5,100-square foot facility at 605 E. Grant St. Tuft & Needle designs and manufactures a… Read More →

Phoenix Rising Investments starts Centrica redevelopment in Mesa

Centrica, Courtesy of Cushman & Wakefield

Phoenix Rising Investments, LLC has begun redevelopment on Centrica, an up to 140KSF, class-A office building at 1550 W. Southern Ave. The adaptive re-use project located near the US 60/Loop 101 interchange in the Southeast Valley will turn three former big-box retail stores into an ideal location for companies seeking modern office space that offers… Read More →

AFI-USA sells downtown Phoenix development site for $12.75M

Downtown_Phoenix_Aerial_Sketch-on

Real estate developer Africa-Israel USA (AFI-USA) announces the sale of a five-acre downtown Phoenix development site at the corner of Central Avenue and McDowell Road for $12.75 million. AFI-USA had owned the property since 2004. Lennar Multifamily Communities is the purchaser and plans to transform what is currently an empty lot into a 288,000-square-foot luxury residential… Read More →

Hartford Place in Scottsdale sells for $7M

Hartford Place, WEB

Cassidy Turley announced the $7 million ($104.79/psf) sale of Hartford Place located at 8388 E. Hartford Drive in Scottsdale, Ariz. Locally based Hartford Exchange, LLC and Reems & Greenway LLC purchased the ±66,800 square foot property from Newport Beach, CA-based Buchanan Street Partners (Newport Beach, CA). Cassidy Turley Executive Managing Director Eric Wichterman and Senior Vice… Read More →

Krispy Kreme signs lease in Avondale, along I-10

Krispy Kreme, WEB
October 21, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

Krispy Kreme Doughnuts has leased the former Long John Silver’s / A&W building at the SEC of I-10 and Dysart in Avondale, Ariz. Andy Kroot of Velocity Retail Group, LLC represented the Tenant – Hot Glazed Enchantment, Inc., a New Mexico corporation and Jennifer Eggert of ZELL Commercial Real Estate Services represented the landlord. The building was +/-2,741 SF… Read More →

Jaclynn Walsh named president, COO of Irgens

Jaclynn Walsh, Irgens

Irgens announced that Jaclynn (Jackie) C. Walsh had been named president/COO, effective immediately. Walsh will oversee day-to-day company operations in support of its real estate portfolio including property and facilities management, design and construction administration, leasing, project management, information technology, and marketing/communications. Mark F. Irgens, CRE will continue as CEO/manager and lead the company’s strategic… Read More →

Michael Lewis Co. buys parcel in Goodyear Gateway South

Goodyear Gateway South, EJM Development

Goodyear Gateway South, the 221-acre industrial zoned park being developed by EJM Development Co. just north of the Phoenix Goodyear Airport, has announced its first user. Michael Lewis Co. (MLCo) has purchased a 30-acre parcel for development. The financial terms of the transaction were not disclosed. Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s… Read More →

LGI Homes Arizona buys 151 lots in Buckeye

Sundance Lots_LGI Homes, Cassidy Turley, WEB

Cassidy Turley announced the sale of 40 finished and 111 platted lots in the master-planned subdivision of Sundance, located in Buckeye, AZ. LGI Homes Arizona, LLC (NASDAQ: LGIH) purchased the lots for $3.9 million. The seller was Kaufman Capital Sundance, LLC. Cassidy Turley Vice Presidents Brian Rosella and Will French negotiated the transaction on behalf… Read More →

Historic apartment complex in Phoenix sells for $1.2M

Palmcroft Pic, WEB
October 20, 2014 by in AZRE Magazine | Brokerage | In The Spotlight

ORION Investment Real Estate announced the sale of Palmcroft Apartments, a 12-unit apartment complex in Phoenix, for $1,200,000.  The property was built in 1940 and was 90% occupied at the time of sale.  It consists of three studios, eight one-bedroom and one two-bedroom units and is located in the Encanto Palmcroft Historic District. The Arizona-based sellers have owned… Read More →

CBRE to market office space at Chandler Viridian

Chandler Viridian, CBRE

CBRE has been awarded the marketing assignment for the ±240,000 SF office portion of Chandler Viridian, the $150 million, mixed-used project to be developed by Hines. The multi-faceted development project will be located on the former Elevation Chandler site near Chandler Fashion Center. Construction on the project is slated to begin 1Q 2015 and will… Read More →

Office Mate: The creative endgame for functional obsolescence

The C3 office building, in Los Angeles, was re-imagined by Gensler to include more "front doors" for suites, which are depicted by the colorful stairways on the building's exterior.

Forget the corner office. These days, it’s about the coffee shop around the corner, the food trucks outside the lobby, the light rail that passes an office building every 15 minutes. The work place is all about the worker. Employee and entrepreneur are synonymous. Human resource departments are working in concert with building owners, managers,… Read More →

Liberty Center at Rio Salado completes first building

Liberty Center at Rio Salado is a partnership between Liberty Property Trust and Markham Contracting Co.

Liberty Property Trust announced that it has completed the construction of its 155,000 square foot Class A office building, located at 1850 W. Rio Salado Parkway in Tempe.  The building opening marks Liberty’s first of up to potentially 11 buildings planned at Liberty Center at Rio Salado, and officially launches the innovative mixed-use business park.… Read More →