Lee & Associates Archives

Avenue5 leases entire floor at Anchor Centre West


Avenue5 Residential recently signed a long-term office lease for the entire 2nd floor at Anchor Centre West, 2201 E. Camelback Rd., Phoenix. Adam Tolson, Principal with Lee & Associates secured the tenant, Avenue5, who will take possession of the 17,974 SF, turn-key space early in 2016. Chris Walker, Michael Beall and Sean Spellman with Cushman & Wakefield… Read More →

Industrial facility will be leveled for office building

4039 E Raymond
by in AZRE Magazine | New to Market | Office

A 64,856 SF manufacturing building at 4039 E. Raymond St. in Phoenix recently sold for $3,600,000 ($55.51 per SF) to make way for a 90,000 SF office building. The property sits on 6.95 acres, strategically located at the NEC of I-10 and 40th St., just south of Phoenix Sky Harbor International Airport. Originally built in the… Read More →

Two Valley shopping centers sell for combined $16.4M

51st Olive Square

Two high-profile shopping centers sold in separate transactions in the past 60 days: Fry’s Food Store-anchored 51st & Olive Square at 5116 W. Olive Ave., Glendale for $9,250,000 ($165.40 per SF) and Playa Del Norte, 555 N. Scottsdale Rd., Tempe for $7,100,000 ($617.44 per SF). At 51st & Olive Square, Lee & Associates principals Patrick Dempsey… Read More →

Lee & Associates promotes Pete Batschelet to principal

hire employee job

Lee & Associates has promoted Pete Batschelet to Principal. Pete began his career in commercial brokerage in 2006. In 2013, he joined Lee & Associates as an Associate and quickly reached Principal status in less than 2 years. “Pete’s enthusiasm and drive have helped him to be very successful in a short period of time. We… Read More →

Manufacturer expands space with $2.76M industrial buy


A Tempe manufacturing firm closed on the purchase of a 51,986 SF building at 2920 E. Chambers Dr. in Phoenix for $2,760,000 or $53.09 per SF. Lee & Associates Principal Ken McQueen represented the buyer, Arcadia, Inc. of Phoenix while Andy Cloud of Cushman & Wakefield represented the seller, Able Engineering and Component Services (aka… Read More →

Lincoln Property signs 552,330 SF industrial lease


Lincoln Property Company (LPC) has completed a 552,330-square-foot lease that will fully occupy a Phoenix industrial building and bring approximately 200 new jobs to the Southwest Valley. The undisclosed distribution user will move into its new space in October and will fully occupy the project, located 7037 W. Van Buren Street in Phoenix. It will use… Read More →

96,000 SF Chandler manufacturing facility closes for $5.88M

6615 W. Boston St

A 96,000 SF manufacturing building at 6615 W. Boston St. in Chandler sold for $5,875,000 or $61.20 per SF. Lee & Associates Principal Matt McDougall represented the buyer, Evergreen Industrial Properties, LLC of Oakland, CA. The seller was Schneider-Chandler, LLC of Phoenix and was represented by Jones Lang LaSalle. The 1978-built building on 5.24 acres and has I-2… Read More →

Desert Ridge Corporate Center reaches 95% occupancy

Desert Ridge-1
by in AZRE Magazine | Brokerage | Featured | In The Spotlight

Two office leases totalling 47,372 SF were leased at Desert Ridge Corporate Center I and II, 20830-20860 N. Tatum Blvd., in Phoenix. These transactions bring occupancy in both buildings to 95 percent. Lee & Associates principals Craig Coppola, Bill Blake, Colton Trauter, Andrew Cheney and Associate Gregg Kafka, represented the landlord in both of these… Read More →

Two Glendale shopping centers sold for $38.6M

Glendale Market Square

The Fincham Dempsey were successful in selling two Glendale, Arizona shopping centers in the final week of July. Glendale Market Square and Arrowhead Plaza were sold satisfying 1,031 exchanges for the buyers for a total of $38,600,000. The Lee & Associates Fincham Dempsey Team, led by Jan Fincham and Patrick Dempsey, facilitated the transaction on… Read More →

Portico Place II secures Hanjin Shipping as 1st tenant

123rf.com, tatiana53

Portico Place II, a 48,173-square-foot Class A multi-tenant office building in Chandler, Az. has secured its first tenant, Hanjin Shipping, a transportation logistics firm that will occupy 37,669 square feet. Hanjin Shipping will take up 78 percent of the building’s overall space, occupying the entire second floor and half of the first floor. Portico Place… Read More →

Tempe office warehouse building trades at $3.3 Million


A 33,400 SF warehouse at 1917-1965 W. First St., in Tempe near Rio Salado Pkwy. and Priest Dr. sold for $3,316,010 or $99.28 per square foot in an all-cash deal. Rick Robertson, Principal with Lee & Associates represented both the buyer and seller in this transaction. The buyer was Danari Temple, LLC an investment partnership… Read More →

Distribution building sells for $2.15M in investment transaction

123RF.com, Copyright: valeriylebedev
by in AZRE Magazine | Brokerage | Investment

A 25,570 SF industrial building at 1401 S. SIesta Lane in Tempe, sold for $2,150,000 or $84.08 per SF. Lee & Associates Broker Kurt Saulnier and Principal Ken McQueen worked both sides of the transaction. The seller was Dunbar Siesta of El Segundo, CA and the buyer was Adler Realty Investments of Woodland Hills, CA.… Read More →

Groupon becomes latest company to locate at SkySong


Groupon announced that it plans to open a new sales office at SkySong, the ASU Scottsdale Innovation Center, to support its growing ecommerce marketplace. Groupon, along with up to 150 employees, plan to move in later this summer and will occupy 16,000 square feet of office space in SkySong 1. The company has been operating out of a temporary office… Read More →

Paragon Vision Sciences moves into Mesa

Courtesy of Lee & Associates

A 10-year, 45KSF lease was signed at 2120 W. Guadalupe Rd., in Gilbert for $3,207,600. Paragon Vision Sciences, currently in Mesa, is the new tenant and will occupy half the structure which was built in 1995. Move-in is expected sometime in Q3 2015. With this transaction, the building is 100 percent leased. Stein Koss and… Read More →