retail Archives

Tucson mid-year reports show market health

Photo: neilld / 123RF Stock Photo
by in AZRE Magazine | Blogs | Brokerage

According to recently released reports from Cushman & Wakefield | PICOR, the Tucson commercial real estate market continues to see widespread activity across all markets at various levels. These quarter two reports analyze business in the multifamily, industrial, retail and office markets. The cliff notes version of the Q2 reports from Cushman & Wakefield |… Read More →

Marcus & Millichap sells Glendale LA Fitness for $12.5M

Glendale LA Fitness
by in AZRE Magazine | Brokerage

Commercial real estate firm, Marcus & Millichap (NYSE: MMI), arranged the sale of a freestanding 46,000-square-foot LA Fitness in Glendale, Arizona for $12.5 million. The property, which is located at 5536 W. Bell Rd., Glendale Ariz., 853058, sale equates to $272 per square foot. The property is located inside a shopping center within one of Glendale’s busiest… Read More →

Retail pads are hot in Phoenix

homes
by in AZRE Magazine | Investment | Retail

It is not only the weather that is hot in Phoenix. Shopping center outparcels, also known as “pads” are sizzling hot. Presently there are nearly 200 outparcel properties under construction or proposed in the Phoenix metro area, according to CoStar, a leading commercial real estate information source. These proposed projects range in size from 2,500… Read More →

Commercial Properties Inc. reports on Q2 market activity

Commercial Properties Inc.
by in AZRE Magazine | Brokerage

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, released a brief overview of Phoenix’s commercial real estate activity, and reports on the top five transactions in June from second quarter. Jeff Hays, senior vice president of Corporate Services commented on the Phoenix industrial sector”  “In general, the industrial market continues to improve in… Read More →

Northsight Village III sells for $1.475M

Northsight Village III
by in AZRE Magazine | Brokerage

Northsight Village III, a 8,532 square foot retail building, closed for $1,475,000 ($172.88-per-square-foot). The building was occupied by AVIS Rent a Car and Traders Smoke Shop at the close of escrow. Judi Butterworth and Derek Buescher of ORION Investment Real Estate represented the seller, LES and NSS Irrevocable Trust, in this transaction. The buyer was… Read More →

Arcadia Village Shopping Center sells for $19.65M

Arcadia Village Shopping Center
by in AZRE Magazine | Retail

Cushman & Wakefield announced Tuesday the purchase of Arcadia Village Shopping Center, a CVS pharmacy-anchored, retail center located on the southwest corner of Camelback Road and 40th Street for $19.65 million. The shopping center is located in Phoenix’s Arcadia neighborhood. Cushman & Wakefield Executive Managing Directors Ryan Schubert and Michael Hackett represented the seller, Arcadia Retail, LLC. “Arcadia… Read More →

Entrepreneur ditches storefront for something mobile

The overthrow van (Photo: Andrew Howell)

Andrew Reid found that the T-shirts he wore never fit right and wanted a better fitting tee, so he decided to create his own. Overthrow Clothing is a West Coast lifestyle mobile retail company specializing in skateboarding and snowboarding attire – a business venture inspired by Reid, Overthrow’s creator, having a love of snapback style… Read More →

Crowds expected for Spring Chalk Art Festival

A child looking drawing with chalk at the Chalk Art Festival

On April 30, the sidewalks of Westgate Entertainment District, Desert Ridge Marketplace and Tempe Marketplace will be transformed into spectacular outdoor galleries as crowds gather to watch the incredible chalk artwork unfold before their eyes at the third annual Spring Chalk Art Festival. During the free event from 11 a.m. until 6 p.m., a group… Read More →

HFF finances Mesa shopping center for $6.3M

finance
by in AZRE Magazine | Retail

Holliday Fenoglio Fowler, L.P. (HFF) announced Monday that it has arranged $6.3 million in acquisition financing for Marketplace at Signal Butte, a 116,358-square-foot, grocery-anchored community shopping center in east Mesa. HFF worked on behalf of the borrower, Progression REI, to place the 10-year, fixed-rate loan with Wells Fargo Bank. Anchored by a Bashas’ Grocery Store, Marketplace at Signal… Read More →

PICOR announces Tucson leases

123rf.com: Vitaliy Vodolazskyy
by in AZRE Magazine | Brokerage | Industrial | Retail

PICOR, a Cushman & Wakefield member, announced a string of recent leases that have closed in the Tucson area, including industrial and retail leases. R & G Food Services, Inc. leased 7,383 square feet in the Coach Drive Industrial Building at 4560 S. Coach Dr., Suite 100, in Tucson from Coach Holdings, LLC.  Rob Glaser, SIOR,… Read More →

CBRE team completes $13.8M Mill Ave. sale

Mill Avenue
by in AZRE Magazine | Brokerage | Retail

A two-property portfolio which takes up two corners of Mill Avenue and 5th Street in Tempe sold for $13.8 million. The properties were approximately 79 percent occupied at the time of sale. CBRE Executive Vice President Philip D. Voorhees and Vice President Brad Rable made the announcement that the National Retail Investment Group – West (NRIG-West),… Read More →

Phoenix-Based Vestar pays $31.4M for Seattle retail center

Vestar
by in AZRE Magazine | Retail

Phoenix-based commercial real estate firm, Vestar, purchased James Center, a retail center in Tacoma, Washington, for $31.4 million. James Center is located at 6901 S. 19th St. in western Tacoma and is directly across from Tacoma Community College, which enrolls nearly 14,000 students per year. The center totals 140,240 square-feet and is situated on 15.95 acres.… Read More →

CVS leased NNN Investment Property sold

Photo: stylephotographs / 123RF Stock Photo
by in AZRE Magazine | Retail

ORION Investment Real Estate announced the sale of an NNN Investment property leased to CVS, near Ellsworth and Broadway Roads, for $3,375,000. The property was sold by SCP 2004E-014, LLC and purchased by JKB Properties, LLC. “This is one of a few properties I am assisting my client in the acquisition to perfect his 1031 Exchange.… Read More →

LevRose goes broker-owned, adds retail team

123rf.com:  Jakub Jirsak

LevRose Commercial Real Estate recently made significant changes to the firm’s ownership model and service areas to prepare for major growth and expansion in 2016. LevRose partners Jon Rosenberg and Robert Levine recently changed to a broker-owned structure in order to create a more sustainable firm. The new model is designed to encompass an elite team of brokers… Read More →