Wentworth Property Company Archives

North Scottsdale office portfolio sells for $122M

Scottsdale
by in AZRE Magazine | Office

A North Scottsdale Class-A office portfolio was sold by its developers for $122 million to a Phoenix-based property company. Wentworth Property Company purchased the 640,000 square-foot portfolio from Desert Troon Companies with plans to renovated the offices, and add two parking garages to the area, according to Cushman & Wakefield. The 640,000 square-foot office portfolio is… Read More →

New York Life Insurance Company buys Phoenix building

New York Life Insurance Company
by in AZRE Magazine | Industrial

Cushman & Wakefield completed the sale of Phase 1 at 10 West Logistics Center, 6200 W. Van Buren St. The buyer is an entity owned by New York Life Insurance Company. The sellers are Phoenix-based Wentworth Property Company (“WPC”) and Crow Holdings Capital of Dallas, joint venture partners in the development. Cushman & Wakefield Executive Managing Director Andy… Read More →

CBRE completes sale of Tempe corporate center

Tempe Corporate Center
by in AZRE Magazine | Office

CBRE completed the sale of 1515 Corporate Center located at 1515 W. 14th St. in Tempe. The 228,000 square-foot, single-story office building commanded a sales price of $16.5 million. The property was vacant at time of sale. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office negotiated the transaction and partnered with Dave Seeger and Karsten Peterson… Read More →

And the 2016 winners of RED Awards are …

RED
by in AZRE Magazine

Every year, AZRE magazine recognizes the best projects, leading brokerage teams and top companies in Arizona commercial real estate at the Real Estate Development (RED) Awards. On Thursday March 3, at the JW Marriott Desert Ridge, AZRE magazine presented the 11th annual RED Awards. Take a look at our 2016 winners.   Photos: Mike Mertes… Read More →

Wentworth purchases Tempe industrial building for $3.6M

university

Cushman & Wakefield announce that Phoenix-based Wentworth Property Company (“WPC”) purchased a ±42,281 square foot industrial property at 2077 E. University Drive in Tempe, AZ for $3.6 million. The seller was Essex Scot, LLC of Riverside, CA. Andy Markham, SIOR, Mike Haenel, Will Strong and Phil Haenel of Cushman & Wakefield negotiated the sale transaction… Read More →

NAIOP Arizona names chairman, board for 2016

nonprofit board member
by in AZRE Magazine

NAIOP Arizona named Bob Hubbard of LBA Realty as its Chairman for 2016. The commercial real estate industry group also named its new officers, five new board members and re-nominated an existing board member. Hubbard, Vice President at LBA, will be joined by officers Larry Probuba, Vice Chairman, The Opus Group; Matt Mooney, Programs Chair,… Read More →

Wentworth Property Company announces West 80 plans

West 80 rendering, courtesy of DTZ.

DTZ announced May 21 it has begun to market West 80, a ±379,635 SF, for-lease, speculative development by Wentworth Property Company (WPC). Located on the southeast corner of 80th Avenue and Buckeye Road in Phoenix, WPC plans to break ground on the industrial distribution center before year-end with delivery in 2016. DTZ Executive Managing Directors Andy… Read More →

Project News: May 2015-June 2015

108696481

UP AND UP Sundt Construction has been selected as the construction manager at risk for Tucson Airport’s terminal upgrade beginning in late 2015. The construction budget is between $18M and $23M. Chandler gets its wings Chandler approved a 50-year ground lease with WingSpan Aviation Center at Chandler Municipal Airport. The first phase of the project… Read More →

Airport I-10 announces three national tenant leases

Oblique & Renderings of Airport I-10-1

Just as Airport I-10’s 600KSF Phase I approaches completion, Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have announced the signing of three major, national tenant leases that bring one of the largest speculative office projects in Phoenix history to more than 35 percent pre-leased. The new tenants at Airport I-10 include: •… Read More →

Wentworth Property, Northwood Investors to redevelop 234KSF office

Rendering courtesy of Gensler

Wentworth Property Company (WPC) and Northwood Investors purchased a ±234,446 square foot office project at 1665 W. Alameda Drive. The partners had the vision to see the unique potential in the property and purchased it for $13.83M with plans to spend $20 to $25 million on redeveloping the project. They selected Gensler as the architect,… Read More →

Anixter commits early to Airport I-10 spec development

Airport I-10

Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have secured a benchmark 63,000-square-foot tenant lease commitment this week at Airport I-10 Business Park—one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history. The lease, made by Illinois-based Anixter International, Inc., fills almost half of Airport I-10’s “Building E” months before anticipated shell construction… Read More →

Tempe Radio Tower Makes Room For Future Innovations

Motorola Tower

A piece of the Valley’s technology history came down last Saturday to make room for a business campus targeting high-tech and innovative companies. The old Motorola radar tower at Elliott Road and the Loop 101 was demolished. Rising in its place will be the Discovery Business Campus, a 136-acre mixed-use office park designed for today’s… Read More →