office Archives

Fenix Development breaks ground on Tempe project

Fenix Development, a Los Angeles-based real estate investment and development company, has broken ground on Phase I of The Watermark | Tempe at the north bank of Tempe Town Lake. Phase I, of the 1.9 million-square-foot mixed-use development, will include 250,000 square feet of premium Class A office space, 44,000 SF of high-end restaurant and boutique retail service… Read More →

Henkel seeking buyer for iconic Scottsdale headquarters

The prestigious North Scottsdale office market — home to several of Arizona’s largest and most notable employers, including HonorHealth, Vanguard, Fender and Quicken Loans — now boasts one of the most desirable investment/occupier opportunities in the country with the Henkel headquarters now on the market. German-based consumer products global leader, Henkel, is seeking a buyer… 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 →

Growing Kansas-based law firm signs lease at Esplanade

Cushman & Wakefield announced that Spencer Fane has leased 8,502 square feet at Esplanade, located at 2425 E. Camelback Road in Phoenix. The tenant signed an 18-month full-service gross lease for $38.00 per square foot from LBA Realty. The 11-story, 235,077-square-foot office building is phase one within the mixed-use Camelback Esplanade, located at the southeast… Read More →

Resimmercial design brings the feeling of home to the office

Instead of bringing your work home with you, this office trend brings home to the office. As the latest workplace trends enable employees to work where, when and how they want based on their flex schedules and unique preferences, office furniture manufactures like Allsteel are using “resimmercial design” to create a welcoming, comfortable home-like environment… Read More →

Phoenix office report: total vacancy drops to 9-year low

Phoenix

The Phoenix office real estate market experienced over a million square feet of positive net absorption, strong leasing activity and steady rental rates during the first quarter of 2017, according to Kidder Mathews’ Phoenix office Q1 2017 report. Direct vacancy decreased to 15.9 percent, a 120 basis point decrease from this time last year. The… Read More →

Cushman & Wakefield joins office trend

Cushman & Wakefield
by in AZRE Magazine | Office

Cushman & Wakefield typically brokers deals for a tenant’s relocation to a new office space, but this time, the shoe was on the other foot. Following the $2 billion merger of Cushman & Wakefield and DTZ in September 2015, the firm’s Phoenix branch nearly doubled the size of its workforce and footprint in Arizona. Until… Read More →

3-building project breaks ground after 30 years

Davis Enterprises – Investments & Development is a family-owned business with many investments and redevelopment projects throughout the Valley, including a five-acre site that has been in the family portfolio for more than 30 years near the I-17 at 2005, 2015 and 2025 W. Deer Valley Rd. While the site has been occupied by different… Read More →

Fox Restaurant Concepts expands corporate headquarters

by in AZRE Magazine | Blogs | Brokerage

Since 2012, Sam Fox’s corporate headquarters for Fox Restaurant Concepts has sat above The Henry, one of his signature restaurants, in a multi-tenant office complex called The Park located at 4455 E. Camelback Road in Phoenix. Recently, Fox announced the expansion of their corporate offices at The Park. Fox Restaurant Concepts and True Foods Kitchen,… Read More →

CBIZ Plaza sells in Midtown for $26M

Cushman & Wakefield

A midtown office tower, near Central Avenue and Thomas Road, was sold to Houston-based Riva Ridge Development from Miami-based LNR Property Corporation for $26 million, which included fees assessed by an auction company, according to Cushman & Wakefield. The CBIZ Plaza is located at 3101 and 3111 N. Central Ave. in Phoenix, across the street… Read More →

Industrial & office steal spotlight from multifamily at 10th Annual IREM-CCIM Economic Forecast

While many turned their attention to Washington D.C. for the inauguration of President Donald Trump, the Valley’s heaviest hitters in commercial real estate joined forces at the 10th Annual IREM-CCIM Economic Forecast on Friday at the Arizona Biltmore. For the program, 21 of the Valley’s top commercial real estate leaders with 521-plus years of combined CRE… Read More →

5 myths about renewing your office lease

StartUp PHX Challenge
by in AZRE Magazine | Office

When renewing your office lease, there are some common myths floating around out there. Don’t fall for them. 1. MYTH: We have a great relationship with our landlord or landlord’s broker FACT: The landlord’s objective is to maximize profits and shift economic and non-economic risk to the tenant. The landlord’s advisor has a fiduciary obligation… Read More →

Cushman & Wakefield expects hot economy in 2017

by in AZRE Magazine

A report released by Cushman & Wakefield anticipates the U.S. economy and property markets to be positioned to perform well in 2017, after a turbulent 2016. “Even before the election, the U.S. economic fundamentals were showing signs of heating up,”  said Kevin Thorpe, Cushman & Wakefield’s global chief economist. “We observed a big GDP number… Read More →

Corporate Center returns to market for resale with full occupancy

Cohen Equities acquired Corporate Center in January of 2016 with 50-percent vacancy and has brought the property to full occupancy in under a year. Now it plans to resell the asset. The national real estate investment firm pursues commercial assets that present an opportunity to add value in both secondary and gateway markets. After bringing the… Read More →