Colliers International Completes 1,166-Unit Portfolio Sale of Four Multifamily Value-Add Properties in Tucson

Colliers International in Greater Phoenix recently completed the sale of four Class B multifamily value-add properties in Tucson for $34.65 million for the 1,166-unit portfolio. Omninet Capital, LLC, of Beverly Hills, Calif., purchased the four properties from Gaines Investment Trust of La Jolla, Calif. The portfolio, Omninet’s first acquisition in Tucson, included: Sedona Springs, 373…

Details

Voit Real Estate Services Directs $9,275,000 Sale of 109,684-Square-Foot Industrial Property in Phoenix

Darren Tappen, Senior Vice President, Aric Adams, Vice President, and Mike Kasulaitis, Vice President of Voit Real Estate Services’ Phoenix office successfully directed the $9.275 million sale of a 109,684-square-foot industrial warehouse in Phoenix, on behalf of the buyer, Dunbar CBC, LLC, an affiliate of El Segundo, California-based Dunbar Real Estate Investment Management.  The buyer,…

Details

Cushman & Wakefield Negotiates 14,278 SF Office Lease at Camelhead Square

Cushman & Wakefield of Arizona, Inc. negotiated a 14,278 square foot lease at Camelhead Square, 3033 N. 44th St., bringing the property to 80 percent capacity. This is a new lease for DriveTime Automotive Group, Inc., the leading used vehicle retailer in the United States, providing additional office space for their expanding business. Other tenants…

Details

De Rito Partners Welcomes Christine Zeihen as Chief Operating Officer & President of De Rito Opportunity Investors, LLC.

De Rito Partners, comprised of five entities including one of Arizona’s largest retail brokerage firms, announced today that Christine Zeihen has joined the company as Chief Operating Officer & President of De Rito Opportunity Investors, LLC. For over 30 years, Ms. Zeihen has provided outstanding leadership and guidance for several of Arizona’s largest and most…

Details

NGKF now operates as Newmark Cornish & Carey in Northern California

Newmark Grubb Knight Frank, one of the largest global commercial real estate services businesses, and part of BGC Partners, Inc. announce that BGC has completed its previously announced acquisition of Cornish & Carey Commercial (“Cornish & Carey”), Northern California’s premier commercial real estate brokerage firm. Financial details of the transaction were not disclosed. BGC expects…

Details

VP Breakfast: Scottsdale—The West’s Most ‘Developable’ Town

Valley Partnership has announced the topic for its upcoming monthly breakfast on Friday, August 22nd. This month’s program will feature an update on current real estate conditions in Scottsdale. Panelists will discuss what’s been happening in “The West’s Most ‘Western’ Town” as well as future opportunities for the commercial real estate and development community. The…

Details

Colliers Releases Q2 Investment Report

Colliers International has released its Q2 2014 Greater Phoenix Investment Report. Among other news, the report states: Sales activity during the second quarter was mixed, with industrial and office properties gaining momentum, while sales of shopping centers and multi-tenant medical office buildings retreated. Distress sales are slowing, with stabilized properties accounting for a greater share…

Details

Colliers International Completes $3.5 Million Sale of Office Building in Scottsdale

Colliers International in Greater Phoenix recently completed a sale of a Class A, 22,345-square-foot office building in Scottsdale for $3.5 million, or $156 per square foot. Spensa Management, LLC, of Minnesota purchased the building, located at 8525 E. Pinnacle Peak Road, from K2H Pinnacle Peak Place, LLC, of Vancouver, BC, Canada. Mike Milic, Vice President;…

Details

Glimcher Breaks Ground on 170,000SF, Mixed-Use Building at Scottsdale Quarter

Glimcher Realty Trust has broken ground on Block M at Scottsdale Quarter, a six-story, approximately 170,000 square foot Class A, mixed-use building in North Scottsdale, Arizona. Located at the southeast corner of the high-end lifestyle center, the new tower will feature premier office space, above ground-floor retail plus an additional parking garage for both tenants…

Details

Plaza Companies Lands Property Management Contract for Medical Plaza in Glendale

Plaza Companies has been selected to manage property and construction services for a busy medical office building in Glendale. American Realty Capital Healthcare Trust II, Inc. (ARC Healthcare) has retained Plaza Companies for its 45,289-square-foot Energy-Star rated property known as Arrowhead Medical Plaza II.  The three-story medical office building is located on the campus of Arrowhead Hospital at 18700 N. 64th Drive in Glendale.  Over the…

Details

JLL Secures Benchmark Tenant Lease at Airport I-10 Business Park

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…

Details

Cresa Phoenix Expands with Top Producing Corporate Real Estate Advisory Team

The largest and fastest-growing commercial real-estate tenant representation firm in North America, just got larger. Cresa Phoenix welcomes one of the most successful corporate real estate advisers in the Valley, Chris Walton. Walton will join Cresa’s global platform as a Managing Principal, along with Ryan Burkett as Vice President and Chris Ellington as Advisor. Alongside…

Details