JLL Archives

2017 outlook: Getting creative with offices

WebPT recently opened up offices in Downtown Phoenix's Warehouse District, renovating an old warehouse, creating a unique and open office space for its employees. (Photo by Mike Mertes, AZ BIG Media)
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 →

Parallel acquires Class A Scottsdale office complex for $20M

Kierland Corporate Center is a Class A office complex spanning 78,273 square feet on 3.4 acres. (Photo courtesy of Parallel Capital Partners)
by in AZRE Magazine | Office

Adding to its growing Arizona portfolio, San Diego-based Parallel Capital Partners acquired Kierland Corporate Center – a Class A office complex at 7033 E. Greenway Pkwy. in Scottsdale – for $20 million. Cushman & Wakefield represented the seller and JLL represented Parallel in the deal. Spanning 78,273 square feet on 3.4 acres, the property – acquired from Bataa/Kierland II, LLC –… Read More →

Daum negotiates 100KSF manufacturing facility lease

123rf.com: Vitaliy Vodolazskyy
by in AZRE Magazine | Industrial

Daum Commercial Real Estate Services negotiated the lease of a 100,000-square-foot manufacturing facility located at 525 W. Alameda Dr. in Tempe. Rich Sica, executive vice president with Daum Phoenix, represented the lessee, 21st Century Healthcare, in the transaction. This represents Sica’s fourth lease transaction for the nutraceutical company to expand in the Valley over the past several… Read More →

NAIOP Arizona announces mentor program protégés

NAIOP Arizona
by in AZRE Magazine

The 2016-2017 NAIOP Arizona Developing Leaders Mentor Program protégés have been announced, and the 16 young professionals come from all corners of the Valley’s commercial real estate industry. Each protégé was selected to participate in the year-long program in which they will attend educational seminars and complete a full scale development project by the end… Read More →

NAIOP-AZ board elects news officers and board members

nonprofit board member
by in AZRE Magazine | Newsmakers

The Arizona chapter of NAIOP, the commercial real estate voice for the state, elected its 2017 officers and board members at its annual board meeting held November 1. The 2017 NAIOP-AZ officers are Chairman of the Board Larry Pobuda, Opus Group; Vice Chairman Matt Mooney, Cousins Properties; Programs Chair Andrew Cheney, Lee & Associates; and… Read More →

Online video pioneer Brightcove relocating to SkySong

SkySong

SkySong, The ASU Scottsdale Innovation Center, will welcome a prominent new tenant to its newest office building. Brightcove, a pioneering force in the world of online video, signed a lease to occupy 13,000 square feet of the first floor of SkySong 4. The company, relocating from Tempe, has nearly 5,000 customers in 70 countries is a leading provider of cloud services for video. The company offers a… Read More →

JLL to lease upcoming 250k SF industrial facility

JLL
by in AZRE Magazine | Industrial

The Phoenix office of JLL has been awarded the leasing assignment for Riverside 43, a 250,043-square-foot, fully speculative Class A industrial project that broke ground this week by Scottsdale-based Merit Partners Inc. The project is one of the last parcels in the Riverside Tax District in Phoenix’s West Valley submarket. Located at 2200 S. 43rd Ave. in Phoenix, Riverside… Read More →