Lee & Associates Archives

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 →

GPEC renews lease at Renaissance Square

GPEC
by in AZRE Magazine | Brokerage

Hines, the international real estate firm, announced it has renewed a long-term 11,976-square-foot lease for the Greater Phoenix Economic Council (GPEC) at Renaissance Square in Phoenix. GPEC, which has been in Renaissance Square since its inception, will continue occupying its space on the 25th floor. The organization renewed an 8-year lease and is updating the office into a… Read More →

SkySong signs MindBody to large space in new building

SkySong
by in AZRE Magazine | Office

SkySong, The ASU Scottsdale Innovation Center is getting another new innovative tenant — one that will take up a big chunk of the newest office building at the project. MindBody, a provider of cloud-based business management software for the wellness services industry, signed a long-term lease to occupy 28,229 square feet of SkySong 4, which is now almost 50 percent leased with… Read More →

Plaza Companies gets negotiating rights to parcel along Loop 101

Plaza Companies
by in AZRE Magazine

The City of Peoria is continuing to push its economic development efforts with a new agreement with Plaza Companies on a critical 14-acre parcel at the southwest corner of Loop 101 and Peoria Avenue. The Peoria City Council voted last week to grant Plaza Companies exclusive negotiating rights on the city-owned parcel with the goal of creating a new commercial office… 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 →

‘Arizona Republic’ built-to-suit sold for $4.5M

Arizona Republic
by in AZRE Magazine | Industrial

A 35,328-square-foot distribution facility at 18808 N. 32nd St., Phoenix was sold to a Tustin, CA-based firm for $4,500,000 or $127.37 per-square-foot. Phoenix Newspapers Inc., parent company to The Arizona Republic, occupies the facility. Lee & Associates principal, Matt Hobaica, represented the buyer, Greenwood & McKenzie Real Estate Investments. The owner, E & H Smith &… Read More →