Lincoln Earns ENERGY STAR Certification on 2.8M SF Phoenix Office Portfolio

Capping off a year-long push to reduce building energy use and carbon emissions, Lincoln Property Company (LPC) today announced that it has earned ENERGY STAR Certification by the U.S. Environmental Protection Agency (EPA) for a 2.8 million square-foot Phoenix office management portfolio. The portfolio encompasses general and governmental office buildings located across the Valley, with construction dates…

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Declining Vacancy Spurs New Spec Construction in Phoenix Office Market

Despite a slow start in the first quarter, conditions in the Greater Phoenix office market strengthened in the second quarter of 2017.  Net absorption remains positive, rents are rising and the vacancy rate is declining.  Strong market conditions have spurred speculative construction of new office projects.  Colliers International in Greater Phoenix released its mid-year office…

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Tempe Office/Flex Business Park Trades for $10.2 Million in Investment Deal

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%. The transaction closed on June 30. Lee & Associates Investment Principals Steve Gonzalez, Marcus Muirhead, and Greg Guglielmino represented the seller, University Corporate Square…

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San Diego-based Rubicon Deli Expands to Arizona Award-winning deli to open locations in Phoenix and Scottsdale

Rubicon Deli, an award-winning San Diego-based fast-casual sandwich restaurant, is set to open two locations in Arizona – one on Scottsdale Road and Acoma Drive in Scottsdale, and the other on Central and Virginia avenues in Phoenix.   Currently, Rubicon has four locations in San Diego and Reno, Nev. Soon, they will have two locations…

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Live, Work, Play + Stay at Scottsdale’s ‘Chauncey Lane’

Scottsdale has no problem drawing crowds, thanks to its thriving dining scene, striking architecture, ample opportunities for shopping and entertainment and near-endless eye candy, and newcomers and locals alike will find all four in abundance at Chauncey Lane. The massive, 53,000-square-foot mixed-use project will debut at the intersection of Scottsdale Road and Chauncey Lane, bringing…

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STERLING REAL ESTATE HOLDINGS ACQUIRES SUMMERHILL APARTMENTS IN PHOENIX

Sterling Real Estate Holdings, the joint venture between Barker Pacific Group (BPG) and Pacific Real Estate Partners (PREP), has acquired Summerhill Apartments: a 1970s-era, 130-unit property located at 2925 North Greenfield Road in Phoenix. With its acquisition of Summerhill last month and the Cielo apartment complex in 2015, Sterling now owns three properties in two…

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