cushman wakefield Archives

Valley’s industrial market remains red hot

New York Life Insurance Company

The Metro Phoenix industrial market remains strong through the third quarter of 2016, recording a vacancy rate of 9.3%, according to the third quarter industrial report released by Cushman & Wakefield. Fifteen of the 17 defined submarkets have experienced improvements in overall vacancy rates since Q3 2015. The Southwest Phoenix saw a decrease in vacancy, finishing… Read More →

Kierland Village Center sells for $34.5M

Kierland Village Center
by in AZRE Magazine

Cushman & Wakefield negotiated the sale of the Kierland Village Center, a grocery and drug anchored neighborhood shopping center located at the southeast corner of 64th Street and Greenway Road in Scottsdale, Ariz., sold for $34.5 million to Chicago-based LaSalle Investment Management. JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), acquired… Read More →

CoreNet takes look at Warehouse District

by in AZRE Magazine | Events

Downtown Phoenix is experiencing a surge of growth as urban cores across the country are attracting new businesses and new residents. Boosting this growth in the Valley is the Warehouse District in Downtown Phoenix. Historic buildings are experiencing a comeback in an underutilized area. The goal is to leverage these existing buildings to create affordable… Read More →

U.S. office market continues to tighten, but at a slower pace

Office Trends, Business Saving Space
by in AZRE Magazine | Office

U.S. office markets continued to gradually tighten in the third quarter of 2016 Cushman & Wakefield announced Thursday. That tightening reflects the more moderate pace of job growth, which has slowed from the strong rate of the previous two years. Net absorption of office space totaled 13.2 million square feet (msf) in the quarter, down… Read More →

Garden-Style Apartments in Phoenix Sell for $21M

Maya Linda, a 360-unit apartment community, located at 8222 N. 19th Avenue in Phoenix was sold today for $21 million.
by in AZRE Magazine | Brokerage | Newsmakers

Cushman & Wakefield announced today the $21 million sale of Maya Linda, a 360-unit apartment community located at 8222 N. 19th Ave. in Phoenix, to Phoenix-based Pacific Real Estate Partners. Jim Crews and Brett Polachek from the Cushman & Wakefield Phoenix office represented the owner, MG Properties of San Diego, Calif. “This property received significant buyer interest due to its… Read More →

Valley Partnership announces new class of advocates

Valley Partnership advocate
by in AZRE Magazine | Events

Valley Partnership prides itself as the premier advocacy group for responsible development in Arizona, which is largely possible due to the proactivity and engagement of its members on development issues. Each year members share knowledge and experiences with a new class of aspiring professionals within various areas of the commercial real estate industry through the Valley Partnership Advocates Program.… Read More →

Class B Phoenix apartments sell for $25.2M

Phoenix apartments
by in AZRE Magazine | Multi-Family

Cushman & Wakefield negotiated the $25.2 million sale of Crossroads Apartments, a 316-unit apartment community located at 2222 W. Beardsley Rd. in Phoenix, to Phoenix-based CS1031 Crossroads Apartments (Rincon Partners). Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller, WW Crossroads Apartments LLC (Olympus Property) of Fort Worth, Texas. Crossroads… Read More →

Pharma firm leases 30KSF in Scottsdale

7400 E. Tierra Buena Ln.
by in AZRE Magazine | Office

Cushman & Wakefield announced today that West Pharmaceutical Services, Inc. leased approximately 30,500 square feet (SF) at 7400 E. Tierra Buena Lane in Scottsdale, Ariz. Cushman & Wakefield Executive Director Jim Wilson represented the tenant in the lease negotiations. The landlord, GH Scottsdale I, L.L.C. in partnership with Hewson Development Corporation, was represented by Mark Linsalata… Read More →

The Money Source leases offices, plans to hire 250

The Money Source
by in AZRE Magazine | Office

The Money Source subleased approximately 20,000 square feet of Class A office space at 2355 E. Camelback Rd. This marks the company’s second office lease in Phoenix during 2016. “The Money Source is committed to attracting and retaining the best employees in the Valley and plans to hire approximately 450 employees this year in Metro Phoenix,”… Read More →

Economic expansion resilient, Cushman & Wakefield forcecast says

by in AZRE Magazine

Global commercial real estate services firm Cushman & Wakefield Monday released its latest U.S. Macro Forecast, confirming that the economy weathered rough headwinds in the first half of 2016. The key demand drivers that support property markets—consumer confidence, job growth, low interest rates and consumer spending—all remain firmly intact. “There is no doubt that slowing global demand… Read More →

New Jersey-based Cenlar FSB leases Tempe offices

Cenlar FSB
by in AZRE Magazine | Brokerage | Office

Cushman & Wakefield negotiated the lease for New Jersey-based Cenlar FSB, which took up an approximately 41,757-square-foot office at Warner Courtyards, located at 301 W. Warner Rd. in Tempe, Ariz. The landlord is Warner Courtyards, LLC; HRA Warner Courtyards, LP; Park 3020, L.L.C. and Park 3030 L.L.C. Cenlar’s expansion to Tempe comes in response to rapid growth… Read More →

Scottsdale and Pinnacle Peak Roads retail center sold for $47M

by in AZRE Magazine | Brokerage | Retail

JLL Income Property Trust, an institutionally-managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), acquired a newly built Scottsdale retail center for $47 million. Silverstone Marketplace is anchored by a Sprouts Farmers Market, and the 78,000-square-foot property is 100 percent leased to a variety of national and regional tenants with a weighted average remaining lease… Read More →

Blandford Homes buys 12.6-acres in Mesa

Blandford Homes
by in AZRE Magazine

Mesa-based Blandford Homes was the winning bidder in a Flood Control District of Maricopa County land auction for 12.6-acres, according to Cushman & Wakefield. The master-planned community firm won the auction for the land with a bid of $1.76 million. The land purchase is located on the northeast corner of Loop 202 and McDowell Road in Mesa. Blandford… Read More →

8-building Phoenix office park sells for $7.5M

Phoenix office park
by in AZRE Magazine | Brokerage | Office

Cushman & Wakefield negotiated the $7.5 million sale of Arcadia Corporate Park, located at the northeast corner of McDowell Road and 48th Street. The Phoenix property was sold to California-based WLA Investment. Arcadia Corporate Park is an eight-building, multi-tenant industrial complex totaling 109,143 square feet. Built in 1981, the property features grade-level loading doors servicing each… Read More →