Lee & Associates Archives

Midtown apartments, Club 7, sell for $19M

Club 7
by in AZRE Magazine | Brokerage | Multi-Family

Club 7 Apartments, a 219-unit, urban infill multifamily community at 3030 N. 7th St., Phoenix, sold for $19,000,000 or $86,758 per door. Lee & Associates brokers Todd Braun, principal, and Bryson Fricke, associate sold the property on behalf of Oregon-based 3030 North Equity LLC. The sought after property was in high demand with multiple offers.… Read More →

Parc 17 industrial park sells for $16.1M in off-market deal

by in AZRE Magazine

Parc 17, a three-building, 177,770 SF industrial park at 1800- 1880 S. 7th Ave., Phoenix, sold for $16,100,000 in an off-market transaction. Principals Stein Koss, Tom Louer and Associate Nick Nudo of the Koss | Louer Team at Lee & Associates, represented both the buyer, Colfin Industrial Acquisitions, LLC (Colony Northstar), Dallas, TX and the… Read More →

Construction commences on $50M renovation of Renaissance Square

Renaissance Square

Construction commenced today on phase one of a $50 million renovation of Renaissance Square, Downtown Phoenix’s iconic office towers at 2 and 40 N. Central Avenue. In a joint venture, Oaktree Capital Management, L.P., and Cypress Office Properties, LLC, purchased Renaissance square from Hines U.S. Core Office Fund, L.P last year for $151.25 million. The $10 million first… Read More →

Land in Glendale and Scottsdale sell for $6.2M

Scottsdale
by in AZRE Magazine | Brokerage | Site Selection

A land parcel in Scottsdale and a second land parcel in Glendale were sold in two separate transactions, which were both negotiated by Lee & Associates. The Glendale land site will be used for an expansion of the Coca Cola bottling plant in the Glendale airport. The 8-acre Glendale land parcel is at the southeast corner… Read More →

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 →

Moving company buys industrial property for $7M

Moving company location
by in AZRE Magazine | Industrial

A 94,885-square-foot industrial distribution property at 2021 E. Jones Ave., Phoenix, sold for $7,068,932 or $74.50-per-square-foot to a national moving and storage company. Lee & Associates Principal Matt McDougall represented the building owners, Cohen Asset Management, Los Angeles, while Principal Steve Farrell represented the buyer, Phoenix-based S&M Moving Systems. The company is one of the… Read More →

Solar company to move operations from California to Tempe

Solar company warehouse
by in AZRE Magazine | Industrial

An entity owned by California-based Solar Junction, a solar cell manufacturer, purchased a warehouse in Tempe with plans to move Solar Junction operations to the facility near 48th Street and Southern Avenue, according to Lee & Associates, the brokers on the sale. Huntington Geneva LLC, a holding entity for the San Jose-based Solar Junction, acquired… 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 →

North Scottsdale land sold for $7.1 million

North Scottsdale Land
by in AZRE Magazine | Construction

A 4.5-acre land parcel near Scottsdale Road and Princess Boulevard was sold for $7,128,728, according to Lee & Associates. The new owners plan to develop a mixed-use project, including a 300-unit,. 4-story luxury apartment complex, on the land at the southwest corner of Scottsdale road and Chauncey Lane. The mixed-use development also includes a four-building, 33,000-square-foot retail… Read More →

Lee & Associates, RSP, Wespac will reposition Renaissance Square

by in AZRE Magazine

Owners of Renaissance Square, Downtown Phoenix’s iconic office towers at 2 and 40 N. Central Ave., have engaged Lee & Associates, RSP Architects and Wespac Construction to completely reimagine the nearly one million square foot Class A property. The ownership group, a joint-venture between funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Cypress Office… 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 →

Uptown Phoenix offices with penthouse sells for $2.063M

uptown Phoenix
by in AZRE Magazine | Brokerage

A 7,400-square-foot contemporary resident and office building at 116 W. McDowell Rd. has sold for $2,062,500 in an all-cash transaction. Price per-square-foot was $278.71. Built in 2007, this striking contemporary building features 6,300 square feet of creative work and gallery space, a 1,100-square-foot penthouse residence, an additional 1,200-square-foot rooftop deck and 12 parking spaces. Lee & Associates… Read More →

Offices near ASU purchased to serve as tech firm HQ

Offices near ASU
by in AZRE Magazine | Office

Offices near ASU, a 26,750-square-foot facility at the University Tech Center, sold for $3,798,500 in an off-market transaction, and will be used as a tech firm’s headquarters, according to Lee & Associates. iT1 Source chose the offices, at 1860 W. University Dr., near ASU to source a talented workforce from the state university. iT1 was formed in 2003… Read More →

Industrial building at Freeport Center sells for $4.7M

Freeport Center
by in AZRE Magazine | Industrial

Four Lee & Associates brokers recently negotiated the $4,700,000 all-cash sale of a 75,786-square-foot industrial warehouse building at Freeport Center, 5520 W. Maricopa St., Phoenix. The price per-square-foot was $62.02. Lee & Associates Principals Allen Lowe and Steve Farrell negotiated on behalf of the seller, Maricopa-Phoenix (KBP), LLC. Principals Rick Robertson and Scott Smith represented… Read More →