CBRE Archives

CBRE hires new director of property tax services


CBRE hired Mark Whitney as its director of property tax services where he will work with clients on any property tax needs. Whitney brings experience in minimizing property and excise tax burdens, which will be critical to CBRE’s Agency Services offering. “Mark is an expert in property tax advisory services and he will be instrumental… Read More →

Redeveloped Phoenix office space sells for $3.9M

BallyRedev-Exterior Building Rendering.jpg
by in AZRE Magazine | Office

CBRE completed the sale of a commercial property that had been redeveloped into an office space for $3.9 million. The property was formerly a Bally Total Fitness facility, and is located in the Arizona Business Park at 15401 N. 29th Avenue in Phoenix. Ashley Brooks and Jim Bayless with CBRE’s Phoenix office negotiated the transaction.… Read More →

CBRE completes $24.35M sale of Gilbert apartments feverpitched
by in AZRE Magazine | Brokerage | Multi-Family

CBRE  completed the sale of Cambria, a 174-unit apartment community located at 130 W. Guadalupe Road in Gilbert, for $24.35 million. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction. “Cambria is a well-located asset in highly desirable Downtown Gilbert,” Cunningham said. “The buyer was able to purchase… Read More →

CBRE completes $33.6M sale of Tucson apartments

by in AZRE Magazine | Brokerage | Multi-Family

CBRE has completed the sale of Centrepoint, a 320-unit multifamily community located at 3220 West Ina Rd in Tucson, for $33.6 million. The complex was 96 percent occupied at the time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office, along with Mike Sandahl with the firm’s Tucson office,… 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 →

What will be impact of interest rate increase on CRE?

Arizona Economic Forecast 2011, Economic Recovery
by in AZRE Magazine | Finance & RE Law

In a move that heralds modestly higher rates on some loans, The Federal Reserve is raising interest rates from record lows set at the depths of the financial crisis. The Fed coupled its first rate hike in nine years with a signal that further increases will likely be made slowly as the economy strengthens further… Read More →

Redevelopment site in Old Town Scottsdale sells for $22.6M


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 →

CBRE’s McClure named ‘Woman of Influence’

business woman power, influential Millennials
by in AZRE Magazine | Newsmakers

CBRE has announce that Nancy McClure, first vice president in the firm’s Tucson office has been named to Real Estate Forum’s list of Women of Influence in the Southwest. The annual list acknowledges and honors professionals that have contributed significantly to the real estate industry in the Southwest region. “We are very proud of Nancy. She… Read More →

CBRE completes $24.75M sale of Village Center


CBRE has completed the sale of Village Center, a 171,129-square-foot shopping center located at 4304 E. Cactus Road in Phoenix. The asset, which is highlighted by a unique Target ground-lease, commanded a sale price of $24.75 million. A team of brokers including Jesse Goldsmith and Steve Julius with CBRE’s Phoenix office and George Good and… Read More →

CBRE will market Chandler Viridian PrimeGate

Chandler Viridian

CBRE/UCR has been awarded the marketing and leasing assignment for Chandler Viridian PRIMEGATE @ Fashion Center, the distinctive restaurant and retail component of the $150,000,000 mixed-use Chandler Viridian development in Chandler, Ariz. Chandler Viridian is located at the northwest corner of the intersection of the Loop 202 & Loop 101 Freeways. A consortium of Hines,… Read More →

Gilbert office project sees complete turnaround

The Forum

CBRE has announced eight new office leases totaling 51,442 square feet at The Forum at Gilbert Ranch in Gilbert, Arizona. The five-building 92,440-square-foot office complex is now 64.4 percent leased after standing virtually empty since 2009. Built in 2009, the original developer was forced to return the property to the lender during the recession. The… Read More →

Historic El Cortez to be redeveloped into microapartments

El Cortez

CBRE has completed the sale of most of the units in the historic El Cortez condominium complex in midtown Phoenix. The sale included 146 of the 165 units in the complex for a sale price of $6.4 million. Brian Smuckler and Jeff Seaman with CBRE’s Phoenix office represented the seller, El Cortez Condominiums, LLC of… Read More →

CBRE releases Tucson transaction report Oleg Dudko
by in AZRE Magazine | Brokerage | In The Spotlight

CBRE’s Tucson office has released the following transaction report for the last two weeks: LEASES Pro Business Management Services, LLC has leased 1,682 square feet of office space at 4340 N. Campbell Avenue from St. Philips Plaza, LLC. The transaction was conducted on both sides by CBRE’s Tucson office. The landlord was represented by Bruce… Read More →

Practice Management Specialists relocates to Mesa


CBRE has announced the signing of a ±16,380-square-foot office lease at 4435 E. Holmes Avenue in Mesa, Arizona. Practice Management Specialists, a local business service provider for dental practices, will relocate its corporate headquarters to the newly leased building at the end of this year. Jamie Swirtz with CBRE’s Phoenix office negotiated the long-term lease… Read More →