CBRE Archives

Tempe data center sells for $16.4M

Tempe Data Center
by in AZRE Magazine

A Florida-based investment firm purchased a Tempe data center from a Scottsdale-based development company for $16,400,000, according to Colliers International. The data center includes 44,244 rentable square feet and was 100 percent leased at the time of the sale. Korth and Kirk Kuller of Colliers International in Greater Phoenix and Luke Denmon of CBRE handled… Read More →

Peoria Avenue office space sells for $10.55M

Peoria Avenue
by in AZRE Magazine | Office

Desert Canyon 200, a 98,761-square-foot office space located at 2421 W. Peoria Ave. in Phoenix, was sold to Scottsdale-based G2 Capital for $10.55 million, according to CBRE. The seller was REEF Desert Canyon LLC, managed by Seattle-based Washington Capital Management. Barry Gabel, Chris Marchildon, Jim Bayless and Ashley Brooks with CBRE’s Phoenix office represented the… Read More →

Report: 2016 gross retail lease activity beats out 2015

by in AZRE Magazine | Retail

CBRE Research released its Q4 2016 Phoenix Retail MarketView and Big Box reports, and overall the Valley’s retail market performed well to close out the year. Top-level highlights included: Overall market fundamentals & general leasing activity: Q4 was highlighted by roughly 600,000 square feet of positive net absorption, which was the greatest amount of any… Read More →

Report: Phoenix office market ends 2016 with ‘strong momentum’

Phoenix
by in AZRE Magazine | Office

CBRE Research released its Q4 2016 Phoenix Office MarketView report, and overall the Valley’s office market finished the year much the way it started – with strong momentum and healthy lease activity. Driven by improving economic fundamentals and steady job growth, demand from office users can be seen in the significant amount of net absorption… Read More →

Yavapai County medical office sale breaks record

Yavapai County medical office
by in AZRE Magazine | Medical

CBRE has completed the sale of Thumb Butte Medical Center, a 12,000-square-foot Class A medical office building located at 3124 Willow Creek Rd., in Prescott. The property sold for $4.5 million, or $375-per-square-foot, a new high-water mark for a medical office building sale in Yavapai County, Arizona. The building is 100 percent leased to Thumb Butte… Read More →

Phoenix logistics center sells for $22.4M

Phoenix Logistics Center
by in AZRE Magazine | Industrial

An LEED Certified distribution center, the Santa Fe Logistics Center, in Phoenix was sold by Phoenix-based development and investment firm Tratt Properties for $22.4 million to national food distributor Greco & Sons Inc., according to CBRE. The local distributor of Budweiser, Hensley Beverage Company, occupies 112,669 square feet of the 367,963-square-foot industrial center located at 4450 N. 45th… Read More →

29,219 SF Cave Creek Plaza sells for $2.55M

Cave Creek Plaza
by in AZRE Magazine | Retail

The Cave Creek Plaza was sold for $2.55 million by PWDAF Bell and Cave Creek LLC to DMC Investments LLC, according to the brokerage firm that worked on the deal. The 21,219-square-foot retail shopping center located at 16806-16872 N. Cave Creek Rd. & 2301-2313 E. Bell Rd. was initially built in 1978. The plaza is shadow-anchored… Read More →

Deer Valley industrial campus sells for $26.4M

industrial campus
by in AZRE Magazine | Industrial

A 220,463-square-foot industrial campus in Phoenix was sold for  $26.4 million to industrial property owners Meritex Enterprises Inc., according to CBRE. “This acquisition is in keeping with our strategy of investing in markets that provide opportunity for growth, expansion and diversification,” commented Dan Williams, chief investment officer of Meritex. “We continue to seek additional investments in… Read More →

40 Commercial real estate companies to watch in 2017

Arizona Center
by in AZRE Magazine

This year, experts still see Arizona as a hotspot for commercial real estate activity and development. While activity in other markets across the nation is starting to fizzle out, Arizona has yet to enter the ninth inning of the business cycle as a result of its slow and steady recovery following the recession. AZRE identifies… Read More →

10 Millennial leaders in commercial real estate

Millennial leaders
by in AZRE Magazine

Entitled. Narcissistic. Detached. If this were a game of Jeopardy! your response might be: What are the three most common words used to describe the Millennial generation? That doesn’t paint a pretty picture considering Millennials are now the nation’s largest living generation. Yet with every raincloud, there is a silver lining. In this case, they… Read More →

HFF expands Phoenix team with hiring of Brad Miner

Brad Miner
by in AZRE Magazine

Holliday Fenoglio Fowler L.P. (HFF) expanded its Phoenix office with the hiring of Brad Miner as a director. Miner will focus on debt and equity placement transactions in Arizona with an emphasis on multi-housing transactions, among other asset classes. Miner has more than 11 years of experience in commercial real estate finance and most recently… Read More →

Multi-property double-escrow transaction completed by CBRE

CBRE
by in AZRE Magazine | Brokerage

A four property exchange with three double escrows was completed by CBRE’s Bill Bayless and Helix Properties LLC’s Ryan Spiekerman, Adam Feldman and Marc Altieri, negotiating on behalf of a single-entity LLC controlled by Helix. The multi-property, double-escrow transaction also involved Phoenix-based Verde Investments. Verde was represented by Scott Ellsworth of SRS Real Estate Partners. Through… Read More →

CBRE promotes Jesse Blum to senior associate

Eric Forshee
by in AZRE Magazine

CBRE promoted Jesse Blum, an advisory and transaction professional at the firm’s Tucson office, to senior associate. Blum specializes in utilizing market research and database implementation to create proprietary, market-specific knowledge. These strategies are designed to solve regional and national location needs and create local competitive advantages. “We are delighted to promote Jesse and recognize his… Read More →

CBRE completes sale of 2 Avondale apartments

CBRE
by in AZRE Magazine | Multi-Family

CBRE completed the sale of Mirabella and 3800 Lux, two adjacent multifamily communities totaling 715 units. The two Class A communities are located at 3800 N. El Mirage Rd. in Avondale. The buyer was Priderock Capital Management and the seller, FPA Multifamily, was represented by Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch with… Read More →