commercial real estate Archives

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 →

Industrial & office steal spotlight from multifamily at 10th Annual IREM-CCIM Economic Forecast

While many turned their attention to Washington D.C. for the inauguration of President Donald Trump, the Valley’s heaviest hitters in commercial real estate joined forces at the 10th Annual IREM-CCIM Economic Forecast on Friday at the Arizona Biltmore. For the program, 21 of the Valley’s top commercial real estate leaders with 521-plus years of combined CRE… Read More →

Trends to watch in 5 commercial real estate markets

Phoenix

It’s that time of year again when commercial real estate firms analyze market activity based on numbers and reports from the first two quarters of the year, and predict how that will impact the rest of 2016 through next year. Experts in their respective markets weighed in on the findings from quarter two reports in… Read More →

New hires bring new level of service to healthcare market

Healthcare

With more than 40 years of combined experience in commercial real estate, brokerage and healthcare, Patti Gentry and Chelsea Maddox aim to take Keyser’s healthcare division to the next level with their senior leadership and selfless service mentality. Jonathan Keyser, founder of the company, calls both hires a “great cultural fit with extraordinary commitment to… Read More →

IIDA’s PRIDE Awards recognize excellence in interior design

The International Interior Design Association is the only worldwide design organization that solely focuses on commercial work. It has more than 13,000 members in 33 chapters around the globe, including the IIDA Southwest Chapter. Annually, IIDA’s major events include the PRIDE Awards, recognizing excellence in interior design projects; the UnVeiled trade show; a charity build… Read More →