commercial real estate Archives

Maricopa’s rebound continues with Edison Pointe groundbreaking

by in AZRE Magazine | Construction

Back in the depths of the Great Recession, Maricopa was in the national spotlight for all the wrong reasons, including being dubbed “A Paradise Lost” by the Wall Street Journal due to all the abandoned home developments. Now this booming city of 50,000 is once again the state’s fastest growing community, and also boasts one… Read More →

Studio Ma cools streets by linking transit, shade and housing

by in AZRE Magazine

For the extreme heat of the desert Southwest, where temperatures are reaching 110°F and higher this summer, can transit-oriented development improve the quality of life? The answer is yes. Through collaborations on several new projects, the Phoenix-based firm Studio Ma — a specialist in environmental design and architecture — has shown how to cool streets… Read More →

P.B. Bell names three new directors

Debra Schooler
by in AZRE Magazine | Real Estate

P.B. Bell, a leader in multifamily housing development, management and acquisitions, has named three new directors to its corporate team based in Scottsdale. Kristina Rauscher and Charlie Koznick join P.B. Bell, respectively, as marketing director and acquisitions director. Arian Ploszaj, who previously served as P.B. Bell’s marketing director, has transitioned to a new role as… Read More →

Market upside helps JLL sell Phoenix Logistics Center

Strong market performance and continued confidence in Phoenix’s industrial market future has spurred the $18.4 million sale of Phoenix Logistics Center – sold this week by the Phoenix office of JLL on behalf of a joint venture between Overton Moore Properties and PCCP LLC, and acquired by Colony Northstar. JLL Managing Directors Bo Mills and Mark Detmer, and Vice President Ryan Sitov represented… Read More →

California-based buyer acquires Thunderbird Village for $12.5M

by in AZRE Magazine | Brokerage | Retail

Brokers from LevRose Commercial Real Estate closed the sale of Thunderbird Village in Peoria for $12.5 million. Located at 7518 W. Thunderbird Road, the 82,099 square-foot building includes a 90 percent leased retail center. California-based company, Deerwood Retail Opportunities AZ, LLC, purchased the property from CAZCO Asset Management Inc. The brokers for the buyer were… Read More →

Tempe industrial park sold for $19.1M

Cushman & Wakefield completed the sale of Kachina Industrial Park, located at 1805-1850 W. Drake Drive in Tempe on behalf of Northern California-based Kieckhefer Properties. Libitzky Holdings LP of Emeryville, Calif. purchased the property for $19.1 million. Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller. Kachina Industrial… Read More →

Verde Dimora Apartments in Mesa sell for $22.25M

The Verde Dimora Apartments at 2217 N. Power Rd. in Mesa have been sold to a Canadian investor for $22,250,000. The buyer is expanding its portfolio of Arizona properties and plans long-term ownership of the community. Western Wealth Capital (WWC), LLC of Arizona purchased the property from Verde Dimora, LLC, an Arizona limited liability company.… Read More →

Redevelopment plans will transform Phoenix hotel into senior housing

A partnership between Bruckal Developments and Ridgeline Properties has purchased the former Country Inn & Suites property at 20221 N. 29th Ave. for a price of $8,336,000. The buyer plans to convert the property into senior housing — assisted living and memory care. “This is one of the most creative and complex real estate transactions… Read More →

How to MacGyver your infill projects through the city

Adam Baugh, a zoning and land use attorney at Withey Morris, PLC, and pioneer of infill restaurant projects across the Valley, says these projects require “a lot of MacGyvering to get them through the city.” When it came to repurposing and adapting older buildings like an old motorcycle/car dealership into a restaurant like The Yard,… Read More →

The Opus Group appoints 2 new associates for Phoenix market expansion

by in AZRE Magazine | In The Spotlight

 The Opus Group (Opus) announced today that two new associates have been appointed to Opus Development Company, L.L.C. Brett Hopper has joined as senior director, real estate development and Matthew Visnansky has joined as real estate manager, real estate development. In their new roles, Hopper will be responsible for sourcing new development opportunities and Visnansky will… Read More →

Evergreen Development announces new president and expansion to new markets

SmithGroupJJR
by in AZRE Magazine

Having completed more than 500 projects including single-tenant and shopping center developments in more than 175 municipalities across the United States, Phoenix-based Evergreen Development Company has made changes to its executive leadership structure as it expands to new markets. Effective this April, Laura Ortiz will take the helm as the company’s new president. Ortiz has been… Read More →

Dexcom renovates warehouse into medical device manufacturing space

Skanska, one of the largest construction and development firms in the United States, is finishing construction on phase one of Dexcom’s facility located at 232 S. Dobson Road in Mesa. This 145,000-square-foot project is a build-out of an existing shell building. The first phase includes the renovation of a 60,000-square-foot industrial warehouse to medical device manufacturing space… Read More →

ASU and CoreNet Global team up to create CRE talent pipeline

W.P. Carey School of Business at ASU
by in AZRE Magazine

Despite the tremendous amount of crossover between skills needed for commercial real estate and corporate real estate, universities with real estate schools across the country do not typically differentiate the two and do not have specific classes teaching corporate real estate. As a result, there’s a growing void in the corporate real estate talent pipeline… Read More →

The future of virtual reality in CRE

Virtual reality degree
by in AZRE Magazine

The adoption of virtual reality in commercial real estate is changing the way buildings/units are designed, marketed, leased and sold. International Data Corporation reports worldwide revenues for the augmented reality and virtual reality market will grow from $5.2 billion in 2016 to more than $162 billion in 2020. Rami Kalla, founder of Point in Time… Read More →