Lee & Associates Archives

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 →

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 →

Liberty Property Trust fills nearly finished Rio Salado office

1930westriosaladopkwy
by in AZRE Magazine | Office

Liberty Property Trust today announced that it has executed two new leases, filling its nearly complete 135,663 square foot speculative office building at 1930 West Rio Salado Parkway in Tempe. DriveTime Automotive Group, an existing tenant in 1720 West Rio Salado Parkway at Liberty Center at Rio Salado, will expand into 65,889 square feet of… Read More →

2 property retail portfolio sells for $72.5M

Tenants at La Mirada include the renowned Maestro’s Steak House, Walgreens, Starbucks, Jade Palace, Russ Lyon, Sotheby’s, and Pima Animal Hospital. (Photo courtesy of Lee & Associates)
by in AZRE Magazine | Brokerage | Retail

A two property Class A retail portfolio in Scottsdale, which includes Scottsdale Seville and La Mirada Shopping Center, sold for $72,500,000 million, according to Lee & Associates. The Fincham Dempsey Team at Lee & Associates, led by principals Jan Fincham and Pat Dempsey, facilitated the transaction along with Lee principals Craig Coppola and Andrew Cheney and… Read More →

North Scottsdale shopping center sells for $72.5M

Sonora Village
by in AZRE Magazine | Retail

The Fincham Dempsey Team at Lee & Associates brokered the sale of the Sonora Village retail shopping center for $72,500,000. The property is located at the southwest corner of Frank Lloyd Wright Boulevard and Loop 101 in North Scottsdale. Sonora Village is a Class A regional power and entertainment center built in 1986. The sale consists of 269,369… Read More →

Phoenix industrial facility sells for $2.55M

industrial facility
by in AZRE Magazine | Industrial

Arizona-based Commercial Properties, Inc. (CPI) negotiated the sale of an industrial building at 6902 W. Hadley St. in Phoenix. Lee & Associates represented the tenant, Sun Country Trailers, who exercised their lease purchase option and purchased the property for $2.55 million. The building is approximately 51,250 square feet, and was originally built in 1996 and is… Read More →

Lee & Associates hires retail leasing and investment principal

ABI Multifamily
by in AZRE Magazine | Newsmakers

Lee & Associates Arizona hired Sean M. Bishop, CCIM as principal. Bishop brings extensive experience in retail investment and tenant and landlord representation. Since 2008, Bishop was a principal and designated broker at Middlefork Commercial, LLC, a Phoenix-based commercial real estate firm that provided leasing, investment sales, tenant representation and property management services. “We are pleased to have… Read More →

Former RoomStore sells for $8.25M

RoomStore
by in AZRE Magazine | Brokerage | Retail

The former RoomStore furniture store at 15826 N. Scottsdale Rd., in Scottsdale sold for $8,250,000 or $263.00-per-square-foot. The company filed bankruptcy in December 2015 and closed all Arizona stores, including this location. Tom Boyle, principal with Lee & Associates, brokered the transaction. The buyer was Phoenix-based Bridge Enterprises LLC, Phoenix, and Scottsdale-based DJD Property Holdings LLC, was… Read More →

Tucson Raytheon Missile Systems flex building sells for $10.5M

Raytheon Missile Systems
by in AZRE Magazine | Office

Lee & Associates facilitated the sale of a 72,000-square-foot former Raytheon Missile Systems flex office building at 3360 E. Hemisphere Loop, Building M10, Tucson for $10,500,000. Price-per-square-foot was calculated at $145.83. Lee Principals Jerry Marrell and Dave Johnson negotiated on behalf of DCG IV, LLC, a Seattle-based investment firm. Lee Principal Pete Batschelet procured the buyer, 3360… Read More →

Pharma firm leases 30KSF in Scottsdale

7400 E. Tierra Buena Ln.
by in AZRE Magazine | Office

Cushman & Wakefield announced today that West Pharmaceutical Services, Inc. leased approximately 30,500 square feet (SF) at 7400 E. Tierra Buena Lane in Scottsdale, Ariz. Cushman & Wakefield Executive Director Jim Wilson represented the tenant in the lease negotiations. The landlord, GH Scottsdale I, L.L.C. in partnership with Hewson Development Corporation, was represented by Mark Linsalata… Read More →