CBRE Archives

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

123rf.com: 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

PracticeMS

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 →

CBRE completes $33.5M sale of Gilbert apartments

bayside islands

CBRE has completed the sale of Bayside at the Islands, a 272-unit apartment community located at 1300 West Warner Road in Gilbert, Arizona. The property commanded a sale price of $33.5 million and was 96% occupied at time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the… Read More →

CBRE releases recent transaction report

123rf.com: Oleg Dudko
by in Blogs

CBRE’s Tucson office has released the following transaction report for the last two weeks: LEASES Duffield, Miller, Young, Adamson, and Alfred PC have leased 6,926 square feet of office space at 3430 E Sunrise Drive from United Insurance Company of America. The tenant was self-represented. David Volk with CBRE’s Tucson office represented the landlord. Tula… Read More →

CBRE completes $95.8M sale of Pillar at Scottsdale

PillarScottsdale.jpg
by in AZRE Magazine | Brokerage

CBRE has completed the sale of Pillar at Scottsdale, a 539-unit apartment community located at 17212 North Scottsdale Road in Scottsdale, Arizona. The property commanded a sale price of $95.8 million and was 96% occupied at time of sale. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction.… Read More →

North Mountain Plaza in Phoenix sells for $10.5M

North Mountain

Arizona-based Pivot Development, LLC has purchased North Mountain Plaza, a retail center in Northwest Phoenix for $10,577,000. Cushman & Wakefield Senior Vice Presidents Dan Salley and Jack Wilson negotiated the purchase transaction on behalf of the buyer. Cam Stanton of CBRE represented the seller, CT Retail Properties Finance IV, LLC. North Mountain Plaza is located… Read More →

Where obsolescence ends, new trend begins

Nexus

A flour mill, a bowling alley, a former shopping mall. All of these retail centers have one thing in common — they’re fated to become creative office space. The life expectancy of older office buildings hangs in the balance along the streets of Midtown and other sub-markets in Arizona that saw extensive growth in the mid-80s.… Read More →

CCIMs report a 94% closing rate on industrial transactions

Members of the CCIM Institute, Commercial Real Estate’s Global Standard for Professional Achievement, indicated strong investor interest in industrial properties, according to the organization’s 3Q15 Quarterly Market Trends report. Approximately 69 percent of CCIM members who participated in a July/August 2015 market intelligence survey reported a higher industrial deal flow year over year, with a… Read More →

McDonald’s in Mesa sells for $1,830,000

123rf.com: Paul Prescott

CBRE has completed the sale of a single-tenant, corporate McDonald’s ground lease located at 1948 East McKellips Road in Mesa, Arizona. The property commanded a sale price of $1,830,000. Joe Compagno with CBRE’s Phoenix office negotiated the transaction. The seller was Phoenix-based Orsett Properties. The buyer was 3568 Veteran, LLC in Newport Beach, CA. “There… Read More →

CBRE releases September transaction report

721 N 4th Avenue

CBRE’s Tucson office has released the following transaction report for September: LEASES WirelessPCS, LLC has leased 2,200 square feet of retail space at 1841 and 1845 S. Craycroft Road from Ashraf Shiha. The tenant was self-represented. Michael Laatsch with CBRE’s Tucson office represented the landlord. Oasis Foods, LLC has signed a 3,300 square-foot lease of… Read More →

North Loop 101 business center sells for more than $41M

N  Loop 101 Photo

CBRE has announced the sale of North Loop 101 Business Center in Phoenix. The class A, multi-tenant business park is comprised of four buildings: 950, 960 West Behrend Drive and 19810, 19820 North 7th Avenue. The property commanded a sale price of $41.75 million. Dan Calihan, Ashley Brooks, Pat Feeney and Rusty Kennedy with CBRE’s… Read More →

RedFlex signs 2 leases to relocate operations

Talavi Corp Center Side Exterior, AZ
by in AZRE Magazine | Brokerage | In The Spotlight

Redflex Traffic Systems has signed two leases to relocate its Phoenix office operations to buildings at 5651 W. Talavi Blvd. within Talavi Corporate Center and 16680 N. 51st Ave. within the 51 Bells project in Glendale, AZ. Senior Directors Blaine Black, Sam Murik and Don Rodie and Associate Robb Vallier with Cushman & Wakefield represented… Read More →