Cassidy Turley Completes $3.5 Million Sale of Blackhawk Corporate Center II

Cassidy-Turley announced it successfully sold Blackhawk Corporate Center II, a ±36,724-square-foot class B office building at 3050 West Agua Fria Freeway in Phoenix. Valley Schools Trust (Phoenix, AZ) purchased the property for $3,517,500 ($95.78 psf) from Special Servicer LNR Partners, LLC (John Mitchell, Vice President, REO Asset Management) of Miami Beach, FL. Executive Vice Presidents…

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RiverRock Selected To Manage 3.2M SF Office and Industrial Portfolio in Calif., Ariz.

RiverRock Real Estate Group, a West Coast-based commercial real estate management and leasing firm, announced AEW Capital Management (AEW) has awarded it the management of a 3.2 million-square-foot portfolio of office and industrial space located in southern California and Arizona. In the past 12 months, RiverRock has grown its management portfolio by 9.1 million square…

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CPI Announces Sale of 10 Acres in Maricopa to Expected End Ministries

Commercial Properties Incorporated (CPI) announced the sale of 10 acres of land for in Maricopa to Expected End Ministries, a Maricopa-based nonprofit 501(c)(3) prison ministry. The group will develop the land at 16540 N. Porter Road as the future international headquarters for its global outreach programs. CPI’s Trent Rustan and Josh Gosnell represented KDJJ Industries, the…

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NorthMarq Arranges $17.15M Mortgage for Pinnacle Peak Commerceplex I in Phoenix

James DuMars, SVP and managing director of NorthMarq’s Phoenix regional office, and Michael Elmore, SVP and managing director of NorthMarq’s Los Angeles office, arranged first mortgage refinancing of $17.15 million for Pinnacle Peak Commerceplex I, a 302,254 sq. ft. warehouse distribution property located in Phoenix, Arizona.  Financing was based on a 10-year term and a…

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Colliers International Recruits Investment Specialist

Colliers International in Greater Phoenix announced that Greg Guglielmino, senior associate, has joined the Phoenix office. Guglielmino specializes in the acquisition and disposition of single- and multi-tenant office and medical investment properties for private and institutional clients. He partners with Marcus Muirhead, associate vice president of investments. Guglielmino is also a member of Colliers’ National…

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Douglas Allred Company Breaks Ground on 100,622 SF Office Building in Chandler

Douglas Allred Company has started construction on another office building at Allred Park Place, a 100,622-square-foot, two-story office building located east of Price and Willis roads in Chandler, Ariz.  The structure, which broke ground July 29, is the sixth speculative office building at Allred Park Place. Mark Krison, Brad Anderson and Bryan Taute of CBRE’s…

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Alliance Residential Debuts First of Three Luxury Rental Communities

Phoenix-based Alliance Residential Company is nearing completion of Broadstone Camelback in the Biltmore area, its first of three high-profile apartment projects delivering in the Valley. Two additional area communities, Broadstone Lincoln and Broadstone Waterfront, are also underway and making strides toward completion in well-known Scottsdale locations. The three developments are branded under Alliance’s luxury Broadstone…

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Construction Kicks Off Today For 2M SF, $600M Development in Tempe

Development partners Sunbelt Holdings and Ryan Companies joined Arizona State University (ASU), State Farm executives, government officials and local business leaders to celebrate the start of construction of Marina Heights, the 2 million square foot project along Tempe Town Lake. State Farm will lease approximately 1.9 million square feet in the development. “We are so proud to be a…

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Major $350M Mixed-Use Commercial Development Planned for Downtown Tempe, Includes USA Basketball National Headquarters

  USA Place, LLC, has been selected to develop a new 330-room Omni Hotel and 30,000-square-foot conference center on a 10.5-acre site located at the southeast corner of Mill Avenue and University Drive, subject to Tempe City Council and Arizona Board of Regents final approval of development agreements. In addition to the hotel and conference…

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Colliers International Expands Team Specializing in Investment Sales and Corporate Tenant Representation

Colliers International in Greater Phoenix announced Peter Bauman, senior associate, has joined its Phoenix office. Bauman specializes in investment sales and corporate tenant representation. Client services include dispositions, acquisitions, site selection, financial analysis and strategic planning. Bauman partners with Tivon Moffitt, vice president. “Peter is a welcome addition to the Colliers team,” said Bob Mulhern,…

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