JLL Archives

Brokers, developers and projects honored at 2016 Best of NAIOP

by in AZRE Magazine | In The Spotlight

The Arizona chapter of NAIOP honored developers, projects and brokers at its 2016 Best of NAIOP awards. This year, Grady Gammage Jr., a real estate and zoning attorney who was a founder of Gammage & Burnham, received the Award of Excellence at the ceremony, which was held at the Arizona Biltmore. Gammage has had a long career, which… Read More →

2017 RED Awards: And the winner is…

2017 RED Awards
by in AZRE Magazine

This year at the 12th annual Real Estate and Development (RED) Awards, AZRE recognized the top commercial real estate projects completed in 2016 along with the companies and people who made each one possible. Each year, AZRE receives hundreds of project nominations to be considered for a RED Award. Ultimately, three finalists projects are selected for each… Read More →

Lee & Associates negotiates 16,299 SF lease in Midtown Phoenix

Lee & Associates
by in AZRE Magazine | Office

CMOC International recently signed a 7-plus year, 16,299-square-foot office lease at 2600 Tower, 2600 N. Central Ave., Phoenix. Lee & Associates Associate Michael Marsh, Principals Craig Coppola and Andrew Cheney and Associate Gregg Kafka, negotiated the transaction on behalf of CMOC. JLL brokers represented the property ownership, Adler Realty Investments Inc. CMOC International is a worldwide… Read More →

NAIOP Arizona wins national awards for 2 initiatives

NAIOP Arizona
by in AZRE Magazine

NAIOP Arizona continued its 12-year winning streak of bringing home national awards at the annual Merit Awards gala, earning large-chapter honors for both its Legislative and Communications initiatives. Last year NAIOP Arizona was named Large Chapter of the Year and won the Large Chapter Merit Award for Education. “Our streak of awards including the most recent… Read More →

Phoenix logistics center sells for $22.4M

Phoenix Logistics Center
by in AZRE Magazine | Industrial

An LEED Certified distribution center, the Santa Fe Logistics Center, in Phoenix was sold by Phoenix-based development and investment firm Tratt Properties for $22.4 million to national food distributor Greco & Sons Inc., according to CBRE. The local distributor of Budweiser, Hensley Beverage Company, occupies 112,669 square feet of the 367,963-square-foot industrial center located at 4450 N. 45th… Read More →

JLL gets 3131 and 3133 Camelback listing assignment

JLL
by in AZRE Magazine | Brokerage

The Phoenix office of JLL has been assigned the listing assignment for 3131 and 3133 Camelback, a two-building office property at the southwest corner of Camelback Road and 32nd Street. JLL will represent the building on behalf of TR Camelback Corp., and JLL Senior Managing Director Dennis Desmond and Managing Director Lynn LaChapelle represent the company. The team launched the property for… Read More →

2017 outlook: Getting creative with offices

by in AZRE Magazine | Office

For the office market, the latest trend is in spaces designed to be creative, collaborative and flexible. Newer developments emphasize flexible layouts, open spaces, upgraded common areas and amenities to create a more attractive work environment. The highest office rental rates for Class A office space are still found in the downtowns of Phoenix, Scottsdale… Read More →

Fully-occupied Paradise Valley medical offices refinanced

Sustainable Banks, Green Banking
by in AZRE Magazine

On behalf of Bayport PV Associated LP, JLL’s Capital Markets completed a $10.5 million refinancing for the Paradise Valley Medical Plaza. Principal Real Estate Investors provided the 10-year, fixed-rate loan for the fully occupied medical office plaza, located in Paradise Valley, Arizona. JLL was able to rate lock in September with an interest rate of… Read More →

10 Millennial leaders in commercial real estate

Millennial leaders
by in AZRE Magazine

Entitled. Narcissistic. Detached. If this were a game of Jeopardy! your response might be: What are the three most common words used to describe the Millennial generation? That doesn’t paint a pretty picture considering Millennials are now the nation’s largest living generation. Yet with every raincloud, there is a silver lining. In this case, they… Read More →

Report: Phoenix office absorption reaches 10-year high

Phoenix
by in AZRE Magazine | Office

Phoenix added millions of square feet of new office space in 2016, and companies filled that space at a near 10-year-high absorption rate, according to the Q4 2016 Phoenix Office Insight report released last week by the Phoenix office of JLL. Collectively, this activity improved the Valley’s office occupancy picture, pushing total vacancy rates down 120 basis points… Read More →

Apartments near Raintree Drive sell for $51M

Apartments near raintree drive
by in AZRE Magazine | Brokerage

MG Properties purchased a Scottsdale apartment community, Broadstone Scottsdale Horizon, from Rockwood Capital and Alliance Residential Company for $51 million, according to JLL Phoenix, which negotiated the deal. Executive Vice President John Cunningham and Senior Vice President Charles Steele led the JLL team on the deal. Broadstone Scottsdale Horizon is a 330-unit rental community near 92nd Street… Read More →

CBRE completes double escrow sale near South Mountain

CBRE
by in AZRE Magazine | Brokerage

CBRE completed the sale of CVS Plaza at South Mountain at 1615 – 1635 E. Baseline Rd. in Phoenix, Arizona and negotiated the spinoff of the CVS Pharmacy, which closed the same day. The sale included an approximately 14,000-square-foot. retail strip center and a 14,169-square-foot CVS Pharmacy. The first sale commanded a price of $5.9… Read More →

Hines buys Southwest Industrial Center for $47.3M

Southwest Industrial Center
by in AZRE Magazine | Brokerage

Hines, the international real estate firm, acquired the Southwest Industrial Center from Hillwood Property Trust for $47.3 million. The  Class A industrial park is located in the heart of the Southwest Valley submarket in Phoenix at Buckeye Road and 75th Avenue. The project consists of a 684,000-square-foot, 32-foot clear logistics warehouse and an adjacent development parcel capable of accommodating a… Read More →

Orcutt | Winslow relocates HQ next door on Central Corridor

Orcutt | Winslow
by in AZRE Magazine | Brokerage | Office

The Phoenix office of JLL has completed a 21,390-square-foot, long-term lease that relocates the corporate headquarters of Orcutt | Winslow into a new building on the Central Corridor, continuing the architecture, planning and interior design firm’s decades-long presence in metro Phoenix’s Central Business District. The new lease moves Orcutt | Winslow from Phoenix Corporate Center, at 3003 N. Central Ave., into… Read More →