New Speculative Office Project Breaks Ground in North Phoenix

USAA Real Estate Company of San Antonio, Texas, in association with Tempe, Arizona-based Metro Commercial Properties, has broken ground on a speculative office development in the I-17 / Deer Valley submarket in Phoenix. The development, named Norterra West, will include two (2), three-story Class-A office buildings approaching 300,000 square feet, and will capitalize on the…

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LGE Design Build Completes Pomo at Gilbert’s Heritage Marketplace

LGE Design Build has completed tenant improvement construction for the 2,600-square-foot Pomo Pizzeria Napoletana at Heritage Marketplace in Gilbert, Ariz. The restaurant features a 6,000-pound, wood-fire pizza oven imported from Italy with hand-crafted stone. In addition, the authentic Italian restaurant features a bar and outdoor seating. “As one of the restaurant hotspots in the Valley,…

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I-10 West Business Center Sells for $5.5 Million

DTZ, a global leader in commercial real estate services, announced today that Thackeray Partners and Trammell Crow Company sold I-10 West Business Center, a three building, multi-tenant industrial complex located one block south of Interstate10 between 55th and 57th Avenue. A Phoenix-based private investor, Kensington Investments, purchased the ±81,571 square foot property for $5.5 million.…

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CUSHMAN & WAKEFIELD NEGOTIATES LONG-TERM LEASE FOR GLOBAL JIU JITSU SCHOOL DEMONSTRATING TREND OF RETAIL USERS’ ATTRACTION TO INDUSTRIAL SPACE

Cushman & Wakefield of Arizona, Inc. negotiated a creative, long-term lease for an international martial arts client, finding it a new home in an industrial building. The lease is part of an overall trend for destination retail users to select more cost-effective industrial space. Gracie Barra, a global Brazilian Jiu Jitsu school, signed a long-term…

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Phoenix’s Revitalized Uptown Plaza Celebrates 60-Year Anniversary By Welcoming First New Tenant, Muse Apparel

Uptown Plaza, the landmark shopping center at the intersection of Central Ave. & Camelback Rd., is pleased to announce the grand opening of its first new tenant, Muse Apparel, since kicking off a wall-to-wall renovation in mid-2014. Opening just in time to celebrate Uptown Plaza’s 60th Anniversary tomorrow, August 25, this popular 10-year-old local women’s…

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SRS Real Estate Partners Hires Senior Vice President in Phoenix Office

SRS Real Estate Partners welcomes Brad Balbo as senior vice president in the Phoenix office. A well-known individual in the Phoenix industry with an established reputation, he specializes in the leasing, valuation, and operations of retail shopping centers and excels in all things restaurant related. He will focus primarily on landlord and tenant representation and…

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NAI Horizon Represents Rancho/Hayden, LLC in Sale of Mercado del Lago, a ±61,319-SF Iconic Mixed-Use Property for $8,882,000

Mercado del Lago, a mixed use (retail & office) development located west of the Loop 101, at 8300-8320 N Hayden Road, Scottsdale, Arizona has been sold for $8,882,000 million. This ±61,319 SF property in an excellent location in the heart of McCormick Ranch is situated on picturesque Lake Margherite along the Indian Bend Wash Greenbelt…

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GPE’s Alexandra Loye & Dominic M. Perry, CCIM, Represent L.I.F.E. in Long-Term Lease of Former Rancho Solano School in Gilbert, Ariz.

GPE Commercial Advisors, one of the oldest privately owned commercial real estate firms in Arizona, secured a long term lease of the former Rancho Solano School at 1305 South Gilbert Road in Gilbert, Arizona. The building is approximately 30,000 SF and sits on 9.39 acres. The new campus allows Lauren’s Institute for Education (L.I.F.E.), a…

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MMD REALTY CLOSES DEAL ON EASTHAM CAPITAL RELOCATION

When Matthew Rosenthal and Eric Silverman, Founders and Managing Directors of Eastham Capital, decided to relocate their private equity firm from Needham, Massachusetts, to Boca Raton, Florida, they chose the Realtor representing the seller from whom Rosenthal bought his home to broker the commercial deal. Michelle Farber Ross, Managing Partner of MMD Realty, met Rosenthal…

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