GPE Companies is proud to announce the promotion of Kristina Konen to Director of Marketing for GPE Companies. In addition to her daily graphic design and marketing duties that she performs as Senior Marketing Coordinator, Kristina will lead the department and work closely with the brokers and property managers to achieve dynamic campaigns and innovative…Details
CBRE has completed the sale of Kierland One, a 175,441-square-foot, Class A office building located in the prestigious Scottsdale Airpark Submarket. Barry Gabel, Mindy Korth and Chris Marchildon of CBRE’s Phoenix office represented the seller, Cornerstone Real Estate Advisers LLC, acting on behalf of an institutional investor. The buyer, Hines, the international real estate firm,…Details
Cassidy Turley represented Dalfen America Corp. (dba Mazal TOV Realty, LPL) in the purchase of Baseline Interstate, a ±136,683-square-foot industrial warehouse/office property at 4707 E. Baseline Rd. in Phoenix. The investment company located in Westmount, Quebec, Canada purchased the property for $7,500,000 ($55.02psf) from Holualoa Companies (dba 4707 Baseline Phoenix) of Tucson. Executive Vice President’s…Details
Cassidy Turley negotiated a 10,500-square-foot lease on behalf of The Weitz Company Arizona at Park One, 2111 E. Highland Ave. in Phoenix. Justin Himelstein and Jason France with Cassidy Turley’s Office Tenant Representation Group negotiated the transaction on behalf of Weitz. Brett Abramson with JLL represented the landlord McCarthy-Cook of Costa Mesa, CA.Himelstein and France…Details
Capital Markets experts in the Phoenix office of Jones Lang LaSalle have completed a $22.1 million sale of Broadway Industrial Portfolio, totalling three Class A buildings and 308,038 square feet in Tempe, Ariz. The deal is JLL’s second investment sale in the area this quarter, accentuating the strength and draw of the submarket’s commercial real estate…Details
Shari Stults, vice president of NorthMarq’s Phoenix regional office, arranged first mortgage refinancing of $2.5 million for Airpark Home Center located at 8355 East Butherus Drive in Scottsdale, Arizona. This asset is a multi-tenant industrial flex building with approximately 50% of showroom/office space and 50% warehouse space. The major tenant at the site is Hughes…Details
SkySong, The ASU Scottsdale Innovation Center has a new ownership structure after a transaction involving SkySong I and II, a 290,000 square foot, two-building office project located at Scottsdale Road and McDowell Road. A partnership formed by Holualoa Companies, the ASU Foundation for A New American University, and Plaza Companies has purchased the entirety of the ownership in a transaction that closed on…Details
The Tucson office of the Land Advisors Organization, the nation’s largest land brokerage firm, announced today the successful closing of 480 acres in the La Estancia de Tucson master planned community, located within the heart of Tucson’s immediate and future employment center with ideal proximity to the I-10, featuring two full interchanges at Wilmot Road…Details
Mutual of Omaha Bank has purchased a 73,377 square foot, three-story office building in Tempe, Ariz., that will house its national client services center and several business groups, the company announced. Located in the Cotton Corporate Center at 4950 S. 48th St., the class A building will serve as Mutual of Omaha Bank’s national client services center, including its customer…Details
Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Starbucks, a 800-square foot net-leased property located in Mesa, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,415,000. Mark Ruble and Jamie Medress, investment specialists in Marcus…Details
The State of Arizona recently signed a 30,000 s.f. five-year Lease within Metro North Corporate Park located at 13450 N. Black Canyon Highway in Phoenix.
The State of Arizona will be utilizing the space for its Department of Economic Security – Child Protective Services Division. The space will be used primarily for administrative activities.
RETAIL LEASES: Greg Vanlerberghe and Erin Schrauth represented the landlord at Gilbert Fiesta II at 207 E. Williams Field Road in Gilbert to lease 2,025 SF to Sundust Gallery. Darlene Saunders of Evergreen Commercial Realty represented the tenant. Michael Franks and Michael Gaida represented an Allstate Insurance Company franchisee to lease 1,250 SF at Tapanema…Details
Cassidy Turley represented Portofino at McCormick, LLC in the purchase of Monaco North, a 112 unit multifamily property located in Scottsdale at 8250 North Via Paseo Del Norte. The Michigan based investor purchased the property for $12,700,000 / $113,393 per unit / $134 per square foot. Executive Vice Presidents David Fogler and Steven Nicoluzakis with Cassidy…Details
Hines, the international real estate firm, announced today that along with joint venture equity partner PCCP, LLC, it has acquired Kierland One, a Class A, 175,441-square-foot office building located in the North Scottsdale Airpark submarket of Phoenix. Completed in 1999, the four-story building is located at 16430 N. Scottsdale Road across from the Promenade Shops,…Details
The owners of six vacant Phoenix-area Albertson’s grocery stores were faced with a challenge in 2012. The partnership wanted to sell the assets at a time, and in a market, that was saturated with big boxes. Four of these buildings were in the southeast valley, which had been hardest hit by big box vacancy. Retail…Details