BH PROPERTIES ACQUIRES 230,500 SF OFFICE AND INDUSTRIAL PORTFOLIO IN ARIZONA

Portfolio was 72 percent leased at time of sale. BH Properties, LLC, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed commercial real estate properties, has acquired an office and industrial portfolio from Buchanan Street Partners for $22.85 million. The portfolio is comprised of three properties totaling 230,500 square feet of…

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MUTUAL OF OMAHA SELECTS RYAN COMPANIES TO MANAGE 75K SF FACILITY AT COTTON CENTER, PHOENIX

Mutual of Omaha Insurance Company has selected Ryan Companies US, Inc. to manage its three-story, approximately 75,000 square foot office building at Cotton Corporate Center in Phoenix. Ryan Companies US, Inc. will provide management services and support facility needs for the company at 4950 South 48th Street, which employs approximately 325 employees and houses its…

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CUSHMAN & WAKEFIELD OF ARIZONA NEGOTIATES LONG-TERM LEASE FOR JAPANESE FIRM AT CHANDLER TECH CENTER

Cushman & Wakefield of Arizona, Inc. helped negotiate a long-term lease renewal and expansion at Chandler Tech Center, 7406 W. Detroit St., for a material handling and automation solutions firm headquartered in Japan. The renewal and expansion transaction for Daifuku of Osaka, Japan, is for 30,247 square feet at Chandler Tech Center, which is owned…

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COMMERCIAL REAL ESTATE VETERANS ROSENE AND MILLER FORM NOVO DEVELOPMENT

Veteran real estate experts Kurt Rosene and Justin Miller have formed NOVO Development, LLC, a commercial real estate development company headquartered in Scottsdale, Ariz. Rosene, who recently received NAIOP Phoenix’ Award of Excellence, has spent more than 25 years in the commercial real estate field. He has provided development, leasing and management expertise to a…

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Plaza Companies and Duke Realty to Partner in Building New 70,000-Square-Foot Medical Office Building on Banner Estrella Campus

Plaza Companies has partnered with a national real estate developer to build a new Class A medical office building on Banner Estrella Medical Campus in Phoenix. Plaza is partnering with Duke Realty in a joint venture to build the project. Founded in 1972 in Indianapolis, Duke Realty has a significant national real estate portfolio, but…

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Progrexion Doubles Office Footprint, Will Hire 450 New Employees at Black Canyon Commerce Park

CBRE has negotiated a 62,771-square-foot office lease at Black Canyon Commerce Park located at 2133 W. Peoria Avenue in Phoenix. The building is now 100 percent leased to Progrexion, a technology enabled consumer service business that provides a suite of credit repair services. Currently, Progrexion occupies approximately 60,000 square feet in the I-17 corridor submarket.…

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ABI MULTIFAMILY EXPANDS REGIONAL FOOTPRINT AND HIRES MARKET LEADER, LANCE PARSONS, TO HEAD TUCSON OFFICE

ABI MULTIFAMILY, Arizona’s largest locally-owned, dedicated multifamily brokerage and advisory firm, is pleased to announce the opening of its Tucson regional office with the addition of Lance Parsons to the organization. The company is excited to welcome Lance Parsons as a Senior Vice President. John Kobierowski, Senior Managing Partner, states, “We are excited to welcome…

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HINES EMPLOYEES FEED HOMELESS IN DOWNTOWN PHOENIX

Hines, the international real estate firm, joined forces Friday, May 29, with Phoenix’s Lodestar Day Resource Center to help end homelessness. Along with Nibblers Catering, employees from several of Hines’ Phoenix properties served nutritious meals and water to hundreds of Valley community members dealing with homelessness. Representatives from Hines’ properties, including Renaissance Square, 24th At…

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ALFREDO J. MOLINA BRINGS AMERICA’S FIRST JEWELER SINCE 1810 TO PHOENIX; CONSTRUCTION BEGINS TODAY

Alfredo J. Molina, president and chairman of Molina Fine Jewelers, has announced construction on his Phoenix location, allowing for the iconic luxury brand, Black, Starr & Frost – America’s First Jeweler since 1810, to serve clients under the same roof of his well-known chateau-style building at 32nd Street and Camelback. Located in the Biltmore Plaza…

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200+ Valley Partnership Volunteers Will Transform Florence Crittenton Scottsdale Girls Ranch Campus on Saturday, November 7

Florence Crittenton Services of Arizona today was selected as recipient of the 2015 Valley Partnership Community Project. The event is Nov. 7 at the Scottsdale Girls Ranch Campus, 8204 E. Monterey Way. For more than 118 years, Florence Crittenton Services of Arizona has been dedicated to serving at-risk and underserved girls and young women. It…

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CBRE Releases Recent Transaction Report

International Rescue Committee has leased 6,200 square-feet of office space at 2100 N. Kolb Rd. from Reay’s Ranch Investors LLC. CBRE’s Tucson office handled the transaction with Pete Villaescusa, Bruce Suppes, and Jesse Peron representing the landlord/sublessor and Bruce Suppes and Ian Stuart representing the tenant/sublessee. Communicus One LLC has leased 3,038 square-feet of office…

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LGE Design Build Starts Phase 2 Construction of Heritage Marketplace with Momentum

LGE Design Build is starting the construction of the second phase of Heritage Marketplace with rapid leasing momentum. Phase 2, slated to begin construction in late June with a December completion, is already experiencing strong pre-leasing activity. Phase 1 is complete and 100 percent leased for retail and restaurant spaces. An integral part of Gilbert’s…

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