colliers international 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 →

Sky Harbor Towers redevelopment nearing completion

Sky Harbor Towers
by in AZRE Magazine | Office

The Muller Company, in a joint venture with investment firm Harbert Management Corporation, announced that the $20 million redevelopment of Sky Harbor Towers office complex is nearing completion of its first phase. The 13.6-acre, two-building office campus located at the intersection of Interstate 10 and State Route 143 is anticipated for move in this spring.… Read More →

Apartments near I-17 in Phoenix sell for $19M

apartments near I-17
by in AZRE Magazine | Multi-Family

Solano Terrace Apartments at 4715 N. Black Canyon Highway was sold to a California investor for $19 million, according to Colliers International. “This property offered a unique opportunity close to the major transportation sources of Interstate 17 and Light rail,” says Bill Hahn, executive vice president with Colliers International in Greater Phoenix. “The community is… Read More →

Congregation Or Tzion purchases Scottsdale church for $4.246M

Covenant Community Church
by in AZRE Magazine

Congregation Or Tzion purchased an industrial/flex building at 16415 N. 90th St. from Covenant Community Church for a price of $4,246,000, according to Colliers International. The well-known Scottsdale synagogue plans to accommodate future growth of its congregation and operations in the property. Congregation Or Tzion purchased the 21,230-square-foot building from Covenant Community Church of Scottsdale,… Read More →

Avnet headquarters sell for $32M

Avnet Headquarters
by in AZRE Magazine | Brokerage

The corporate headquarters of Avnet Inc. has been sold to Phoenix-based Cole Office & Industrial REIT (CCIT II) Inc. for $32 million. The Class A, 176,402-square-foot building at 2211 S. 47th St. has been the technology company’s worldwide headquarters since 1997. “This signature property provided an opportunity to acquire a global corporate headquarters with a long-term,… Read More →

What land development trends and issues will we see in 2017?

land development trends
by in AZRE Magazine

In “A Tale of Two Cities,” “It was the best of times, it was the worst of times.” A 2017 preview of land development for Phoenix and outlying regions may not be as dramatic as being best or worst, but it assuredly is a tale of two markets. Residential land development will call the shots… Read More →

West Phoenix industrial facility sells for $33.55M

West Phoenix
by in AZRE Magazine | Industrial

Colliers International in Greater Phoenix negotiated the $33,550,000 sale of a 452,271-square-foot industrial facility in West Phoenix. The facility is occupied by Breakthru Beverage Group. The sale represents one of the highest prices paid per square foot in the market, reflecting the strong dynamics of the West Phoenix industrial submarket. “The West Phoenix submarket is… Read More →

Report: Older medical offices drag market

Fresenius Medical Care Building, Colliers, WEB
by in AZRE Magazine | Medical

Colliers International in Greater Phoenix released its third quarter 2016 Medical Office Market Report for Greater Phoenix. The report indicates that older medical office buildings are no longer optimally functional and have put a drag on the market. Vacancy of Medical Office space in Greater Phoenix dropped slightly in the third quarter. The vacancy has… Read More →

Report: retail to have strong 2016 finish after cool summer

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

The Greater Phoenix retail market experienced a cooling effect over the summer months of third quarter with net absorption slowing and vacancy rising for the first time since 2014 , according to Colliers International’s retail report. Colliers International experts anticipate a strong finish for 2016 as fourth quarter retail picks up pace. Net absorption remained… Read More →

NAIOP Arizona announces mentor program protégés

NAIOP Arizona
by in AZRE Magazine

The 2016-2017 NAIOP Arizona Developing Leaders Mentor Program protégés have been announced, and the 16 young professionals come from all corners of the Valley’s commercial real estate industry. Each protégé was selected to participate in the year-long program in which they will attend educational seminars and complete a full scale development project by the end… Read More →

NAIOP-AZ board elects news officers and board members

nonprofit board member
by in AZRE Magazine | Newsmakers

The Arizona chapter of NAIOP, the commercial real estate voice for the state, elected its 2017 officers and board members at its annual board meeting held November 1. The 2017 NAIOP-AZ officers are Chairman of the Board Larry Pobuda, Opus Group; Vice Chairman Matt Mooney, Cousins Properties; Programs Chair Andrew Cheney, Lee & Associates; and… Read More →

Metro Phoenix multifamily rents rise as vacancy drops

Central phoenix apartments

Colliers International in Greater Phoenix released its third quarter 2016 Multifamily Statistics, which report that market conditions strengthened in the past three months, decreasing vacancy and pushing rents higher. This decrease in vacancy occurred during a period when developers brought new units to the market, showing how strong demand is in this Southwest city, according… Read More →

Central Phoenix apartments sell for $5.325M

Central phoenix apartments
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix has negotiated the $5,325,000 sale of Patio 15, a Central Phoenix apartment property located at 1523 West Colter St. “This property offered a great opportunity for the buyer to acquire real estate near the popular light rail system,” says Jeff Sherman, executive vice president with Colliers International. “Patio 15 offers… Read More →

Colliers negotiates $8.08M apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Springwood Apartments at 2540 N. 51st Ave. have been sold for $8,080,000 to a California private investor. The sale is part of the dynamic multifamily investment market attracting out-of-state buyers to Phoenix. “This buyer recognizes a terrific value-add opportunity in this property,” says Trevor Koskovich, executive vice president with Colliers International in Greater Phoenix. “The… Read More →