Lee & Associates Archives

Lee & Associates sells DeMuro Corporate Square for $10.2M

by in AZRE Magazine | Brokerage

DeMuro Corporate Square, a 7-building business park totaling 88,837 SF at 1505-1575 W. University Dr., Tempe, has sold to a California investment entity for $10,200,000. Occupancy was reported to be 92 percent. The transaction closed on June 30. Lee & Associates Investment Principals Steve Gonzalez, Marcus Muirhead, and Greg Guglielmino represented the seller, University Corporate… Read More →

Meet AZRE Forum panelist: Andrew Cheney

Andrew Cheney
by in AZRE Magazine

The AZRE Forum will be held on Aug. 3 at the Camby and Andrew Cheney, principal of Lee & Associates, will sit on one of the three feature panels. The first two panels will focus on the multifamily, retail, office and industrial commercial real estate sectors in Arizona. The final panel will give an update on the state of… Read More →

Developers plan to break ground on $25M Scottsdale mixed-use project this summer

Scottsdale mixed-use project
by in AZRE Magazine | Mixed-Use

Developers are hoping to create a $25 million luxurious shopping, living, dining and office project in Scottsdale at the southeast corner of Scottsdale Road and Chauncey Lane. DBM Ventures expects to break ground on the 53,000-square-foot, mixed-use project, Chauncey Lane, this summer, with an opening date planned for summer 2018.   Provided renderings, courtesy of LGE, Cawley Architects, AV3… Read More →

We’ll see you at the AZRE Forum, Aug. 3

AZRE Forum
by in AZRE Magazine

With more than half of 2017 behind us, it’s time for AZRE’s commercial real estate mid-year market update and forecast, AZRE Forum. The forum will be held at the Camby, along the Camelback Corridor, on Thursday, Aug. 3 from 3:30 p.m. to 6 p.m. Tickets can be purchased directly online. Three panels at the AZRE… Read More →

Old Town Scottsdale apartments sell for $6.9M

Old town Scottsdale apartments
by in AZRE Magazine | Brokerage

Estancia, a 62-unit multifamily community at 3620 N. Miller Rd., Scottsdale, sold for $6,900,000 or $172.63 per SF ($111,290 per door). Lee & Associates brokers Bryson Fricke and Todd Braun represented both the seller, California-based JBC Estancia Inc., and the buyer, California-based The Tides at Old Town LLC. The new ownership will rename the community, The Tides of… Read More →

Lee & Associates sells Tempe parcels for $3.2M

Tempe town lake at dusk
by in AZRE Magazine

Three commercial land parcels that total 5.3 acres just east of the northeast intersection of Rural and Baseline roads, has sold for $3,200,000. Price per SF was calculated at $13.91 per SF. The property will be developed featuring two retail components; Alamo Drafthouse, a movie theater and dining concept with another location in Chandler and… Read More →

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 →