JLL Archives

Demand for new industrial space rising, JLL Phoenix says

Customers looking for increased efficiencies are flocking to this new Class A space, which features amenities such as wide column spacing and clear heights of up to 36 feet. This trend is actively playing out at Airport I-10, in the airport submarket. (Photo courtesy of JLL Phoenix)
by in AZRE Magazine | Industrial

The delivery of more than 2.8 million square feet of new industrial construction in Phoenix during the first half of 2016 has made an impact on the Valley, says the Phoenix office of JLL. In some cases, the additional industrial spaces have pushed industrial rental rates up by as much as 36 percent higher than their… Read More →

77-acres sold in Buckeye for new manufacturing facility

Buckeye
by in AZRE Magazine | Brokerage | Site Selection

Cardinal IG purchased 77-acres of land in Buckeye to build a 250,000-square-foot manufacturing facility. Cardinal IG purchased the land from Evergreen Devco Inc. and Evergreen-Apache & Southern LLC. The Phoenix office of JLL brokered the deal on behalf of the sellers. Cardinal IG will develop a 250,000-square-foot, build-to-suit advanced glass manufacturing facility at the site. The project will… Read More →

Report: Tightened Class A Office Activity is Driving Class B Activity

Phoenix
by in AZRE Magazine | Office

The Phoenix office market experienced a rise in leasing activity, high net absorption and increased rental rates according to second quarter reports. As Class A space fills in some of the most desired corridors of the city such as Camelback Corridor, companies are turning to Class B space in new corridors like Phoenix Midtown to… Read More →

Report: Phoenix skyline makes comeback, with challenges still ahead

Downtown Phoenix, Photo: Flickr, squeaks2569
by in AZRE Magazine

An annual report released by JLL, shows that the Phoenix skyline is starting to make a comeback, as tech firms start to pursue the coveted office space in downtown Phoenix, but there are some challenges ahead. The office buildings that make up the Phoenix Skyline have entered new territory in 2016, with rents and tenant demand… Read More →

Superstition Corridor property sells for $4.9M

Superstiiton Corridor
by in AZRE Magazine | Brokerage | Office

Strong recovery in the Superstition Corridor contributed to this week’s $4.9 million sale of Inverness Commons II, a value-add office asset represented by the Phoenix office of JLL. The 60,960 square-foot building sits within one mile of the U.S. 60 Superstition Freeway and in the heart of the Superstition Corridor, a submarket that over the past… Read More →

CoreNet Global Arizona will host ‘Midyear Market Update’

CoreNet Global Arizona
by in AZRE Magazine | Events

The 2016 commercial real estate industry in the Valley is showing signs of growth at midyear. But what lies ahead for the next six months in regards to job creation, vacancy rates and available capital? These and other topics will be discussed at the “Midyear Market Update: Brokers’ Perspective,” presented by CoreNet Global Arizona, June… Read More →

JLL promotes 5 to senior level positions

JLL
by in AZRE Magazine | Brokerage | Newsmakers

The Phoenix office of JLL has promoted five of its brokers to senior level positions. Brett Abramson, Keith Lammersen, Jason Moore and Charles Steele have been promoted from Vice President to Senior Vice President. Andrew Medley has been promoted from Vice President to Executive Vice President. “Each of these individuals brings a unique skill set… Read More →

3 new tenants move into Stonecreek Pointe

Stonecreek Pointe
by in AZRE Magazine | Brokerage

Golf course-facing views and significant property renovations at Stonecreek Pointe have attracted three new tenants to the Paradise Valley office project. On behalf of building owner HighBrook Investment Management/Cypress Office Properties, the Phoenix office of JLL has completed almost 30,000 square feet in new leases to Premier Business Centers, Vertical Measures and People’s Mortgage. The leases bring… Read More →

JLL Phoenix office appoints senior vice president

promotion

The Phoenix office of JLL hired David Rosato as senior vice president and new leader of its growing Phoenix Project & Development Services (PDS) group. The PDS group provides consultation, project management, design and construction management services for projects ranging from office to industrial to retail. In his new position, Rosato manages the Phoenix PDS team and… Read More →

What’s in store for 2016 Brokers for Kids?

Brokers for Kids
by in AZRE Magazine | Events

Every year, Brokers for Kids brings together real estate teams across the Valley to help raise money for at-risk children. These real estate teams compete all year, then meet up for an Olympiad to square off for the championship to top off their fundraising event for the year. At the Olympiad, the teams compete in… Read More →

JLL completes $15M multifamily sale

Multifamily sale
by in AZRE Magazine | Multi-Family

The Phoenix office of JLL completed the $15,046,909 sale of 90 units at Aderra Condominium Residences, near the intersection of Tatum Boulevard and Cactus Road in Phoenix. The entire Aderra project is comprised of 312 condominiums on eight acres. This 90-unit portion consists of one- and two-bedroom condominiums averaging 1,032 square feet. JLL Executive Vice President John Cunningham and… Read More →

Report: Phoenix mid-size industrial market on rise

Next Gen Industrial
by in AZRE Magazine | Brokerage | Industrial

Mid-size users are dominating the Phoenix industrial market, and the construction sector has a heavy hand in that success, according to the Phoenix office of JLL. The brokerage firm reports much of the 5.8 million square feet of industrial space absorbed in the Valley in 2015 went to mid-size users – tenants occupying somewhere between 10,000 and 50,000 square feet.… Read More →

Dircks Moving & Logistics opens 170K SF facility

Dircks Moving & Logistics
by in AZRE Magazine | Industrial

Dircks Moving & Logistics expanded its logistics footprint in the West Valley as its logistics arm moves into a 170,000 square-foot institutional quality distribution. The new center is set to meet the growing needs of the logistics firm’s growing needs of its clients and customers. The lease arrangement, signed in December, called for 108,000-square feet with entitlements of… Read More →

Capital Markets completes sale of ‘stalled-to-stable’ case study

Cobalt

Capital Markets experts in the Phoenix office of JLL have completed the $16.2 million ($180,000 per unit) sale of Cobalt on 32nd Street, a case study for Phoenix’s stalled-to-stable multifamily recovery and a sign of continued investor appetite for the market’s upside potential. JLL’s Executive Vice President John Cunningham and Vice President Charles Steele represented… Read More →