cushman wakefield Archives

40 Commercial real estate companies to watch in 2017

Scheduled to break ground in early 2017, the Arizona Center renovations will take approximately nine months to complete.  (Rendering courtesy of Parallel Capital Partners and Angelo, Gordon & Co.)
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 →

Walmart anchored retail center sells for $41.3M

Walmart
by in AZRE Magazine | Brokerage

An entity owned by Goldman Sachs & Co. purchased the Walmart anchored Bethany Towne Center, located near Bethany Home Road and 35th Avenue in Phoenix, for $41.3 million, according to Cushman & Wakefield. Bethany Towne Center has 305,742 square feet of retail space and was 92.3 percent leased out at the time of the sale. Walmart makes… Read More →

2017 Outlook: Industrial absorption could see rise

industrial absorption
by in AZRE Magazine | Industrial

Industrial vacancy rates returned to single digits for the first time since the third quarter of 2007 and the Valley’s market is expected to remain hot. Cushman & Wakefield reports overall asking rent rates in the Phoenix Metro reached its highest rate of $0.56 since Q3 2009. According to the same report, 15 of the… Read More →

Purchased land near Mill Ave. planned for high-rise apartments

Downtown
by in AZRE Magazine | Brokerage | Site Selection

An investment firm plans to develop a high-rise apartment project at one of the two plots of land it purchased near Mill Avenue, according to Cushman & Wakefield who represented the sellers in the deal. Core Campus Investment Partners LLC purchased .75 acres at the southeast corner of Seventh Street and Mill Avenue in Tempe, along… Read More →

Sheila Bale and Ryan O’Connor join Cushman & Wakefield

Sheila Bale and Ryan O'Connor (Photos courtesy of Cushman & Wakefield)
by in AZRE Magazine

Sheila Bale and Ryan O’Connor have left Newmark Grubb Knight Frank, joining Cushman & Wakefield’s office healthcare division as managing director and senior director in the Phoenix office. Together, Bale and O’Connor bring 22 years of experience in the healthcare real estate market. They will be joining Tom Weinhold, managing director of the Phoenix office,… Read More →

Pima Crossing retail center sells for $46.15M

Pima Crossing
by in AZRE Magazine | Retail

Cushman & Wakefield negotiated the $46.15 million sale of Pima Crossing, a shopping center located on the northwest corner of Shea Boulevard and Pima Road in Scottsdale, Ariz. An entity formed by Los Angeles-based Karlin Real Estate purchased the property from Florida-based Regency Centers LP. Cushman & Wakefield Executive Managing Directors Michael Hackett and Ryan Schubert represented… Read More →

Mixed-use project at University Drive and Forest Avenue sold

The Opus Group began construction on the two residential towers late last year. (Rendering courtesy of The Opus Group)
by in AZRE Magazine | Brokerage

Cushman & Wakefield negotiated the $15.24 million sale of the mixed-use development at the northwest corner of University Drive and Forest Avenue in Tempe, Ariz. to Minneapolis-based The Opus Group. The Cushman & Wakefield team of Brent Moser, Mike Sutton and Brooks Griffith represented the seller, Sundt Companies of Tempe. The 115,325-square-foot development site, yet to be named, will include two… Read More →

Cushman & Wakefield expects hot economy in 2017

Copyright: markskalny / 123RF Stock Photo
by in AZRE Magazine

A report released by Cushman & Wakefield anticipates the U.S. economy and property markets to be positioned to perform well in 2017, after a turbulent 2016. “Even before the election, the U.S. economic fundamentals were showing signs of heating up,”  said Kevin Thorpe, Cushman & Wakefield’s global chief economist. “We observed a big GDP number… Read More →

Legislative Update: Tax reform tasks for the first 100 days and beyond

online sales tax issue
by in AZRE Magazine

Everyone can agree that pro-growth tax reform would be welcomed in communities across our country; the last time the nation underwent a tax overhaul was 30 years ago and much has changed in the time since. The Trump Administration, together with Congress, has the opportunity to enact legislation that can transform communities for the better,… Read More →

Silagi Development breaks ground on Chandler Airpark

Chandler Airpark
by in AZRE Magazine | Industrial

Silagi Development & Management (SDM) broke ground on Chandler Airpark, a Class A business park to feature six single-tenant industrial buildings in Chandler, Ariz. Working with LGE Design Build Chandler Airpark located on Douglas Drive, just west of Stearman Drive, is scheduled for completion in April 2017. Chandler Airpark will be the only product of its kind available… Read More →

Building featured in Hitchcock’s ‘Psycho’ intro sold for $5M

Psycho intro
by in AZRE Magazine | Office

The historic Heard Building in Downtown Phoenix was sold to a California investment firm by One Twelve North Central LLC for $5 million, according to Cushman & Wakefield. Montana Avenue Capital Partners purchased the property, located at 112 N. Central Ave., in Phoenix. The Heard Building is an eight-story 65,531-square-foot historic office building on Central Avenue… Read More →

Clear Sky Capital buys Tatum Place in Scottsdale

Tatum Place is located at 16801 N. 49th St. (Photo courtesy of Cushman & Wakefield)
by in AZRE Magazine | Brokerage

Cushman & Wakefield negotiated the $18.1 million ($110,336 per unit) sale of Tatum Place, a 164-unit apartment community located at 16801 N. 49th Street in Scottsdale, to Phoenix-based Clear Sky Capital EBH, LLC. The property, built in 1984, currently offers one- and two-bedroom floor plans with an average unit size of 804 square feet. Tatum Place offers… Read More →

Uptown Phoenix offices with penthouse sells for $2.063M

uptown Phoenix
by in AZRE Magazine | Brokerage

A 7,400-square-foot contemporary resident and office building at 116 W. McDowell Rd. has sold for $2,062,500 in an all-cash transaction. Price per-square-foot was $278.71. Built in 2007, this striking contemporary building features 6,300 square feet of creative work and gallery space, a 1,100-square-foot penthouse residence, an additional 1,200-square-foot rooftop deck and 12 parking spaces. Lee & Associates… Read More →

561-unit Phoenix apartments sell for $36.25M

Phoenix apartments
by in AZRE Magazine | Brokerage

A Los Angeles-based property firm sold a 561-unit community in Phoenix for $36.25 million, according to Cushman & Wakefield. B.H. Properties sold the property to Phoenix-based 3rd Avenue Investments LLC. The apartment community, Madera Court, was built in 1982, and is considered to be a great property for interior and exterior renovations, according to Cushman & Wakefield.… Read More →