Phoenix/Tucson Commercial Real Estate News From CoStar Group


    Lee & Associates Promotes Saulnier to Principal
    PHOENIX – Kurt Saulnier has been promoted to principal with Lee & Associates Arizona. Saulnier joined the firm in 2012 as an associate, quickly rising through the ranks as a consistent contributor and team player. A specialist in industrial transactions across Metro Phoenix, his most recent transaction was a $6.5 million sale of 21.5 acres which will be developed into a 350,000-square-foot industrial park in late 2016 by Metro Commercial...

    HPOne Leases 19,000 SF in Gilbert
    PHOENIX – HPOne, a medical insurance and health care provider, leased 19,015 square feet in the office building at 275 E. Germann Rd. in Gilbert, AZ. The Reserve at San Tan Bldg 2 is also occupied by Banner Health, and is now 100 percent leased. The single-story, 51,228-square-foot office was built in 2008 on 39.2 acres in the Chandler submarket of Maricopa County, at the southeast corner of S. Gilbert Rd., across the street from the...

    CoStar's People of Note (July 19 - 25)
    It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Washington DC, Boston, South Florida, Denver, New York City, Los Angeles, Minneapolis, South Carolina, Tampa / St. Petersburg, Columbus, Indianapolis, San Antonio, Houston, Atlanta, and Portland. WASHINGTON DC Tilley Expands Role for Phillips Realty and EB5 Capital...

    Walgreens Bldg Sold for $9.5M
    TUCSON – Capital Foresight acquired the retail building at 7111 E. Golf Links Rd. from Royal Investors Group for $9.52 million, or about $618 per square foot. The 15,413-square-foot, freestanding drug store was built in 2008 on seven-tenths of an acre in the East Tucson Retail submarket of Pima County. Walgreens has a triple-net lease for the entire building, which features a drive-thru. The lot is a pad site for the 99 Cent Only-anchored...

    American Residential Sells Valencia Townhomes for $6.6M
    PHOENIX – American Residential Properties sold the Valencia Townhomes at 550 W. Maryland Ave. to a local owner for $6.59 million, or approximately $183,000 per unit. The 49,884-square-foot multifamily property was constructed in 2009 on 2.5 acres in Maricopa County. The townhome community was converted into 24 two-bedroom apartments in 2012. Brian Smuckler, Jeff Seaman, and Derek Smigiel of CBRE represented both parties in the sale...

    Steel Fabricator Leases 13,000SF
    PHOENIX – Schuff International, a steel fabricator and provider of integrated steel construction services, leased 13,200 square feet at 3020 E. Camelback Rd. in a deal commencing next month. The three-story, 79,948-square-foot office building was constructed in 1981 on 1.5 acres in the Camelback Corridor submarket of Maricopa County, part of the Biltmore Lakes Corporate Center. Colton Trauter and Bill Blake with Lee & Associates represented...

    Office Lease Up (July 20) Tableau Leases 210,000 SF in Seattle
    Tableau, a maker of data visualization software, signed an 11-year lease for all 210,000 square feet in the NorthEdge building under construction at 3301 Densmore Ave N. in Seattle. Under its lease agreement, the company has the option to extend for two 7-year periods. The four-story building is just north of Seattle's Gasworks Park. Touchstone Corp. is developing the property expected to be completed in May 2016, according to CoStar information...

    Willowick Square Sells for $5.9M
    PHOENIX – Investment Property Associates LLC has purchased the Willowick Square office building at 5150 N. 16th St. from Presson Corporation for $5.9 million, or about $110 per square foot. The 53,417-square-foot office building was constructed in 1974 on 2.8 acres in Maricopa County. The building was about 87 percent vacant at the time of sale. Eric Wichterman, Michael Coover, Bob Buckley, Steve Lindley, and Ben Geelan with DTZ teamed...

    Plaza del Rio Bldg Sold for $5.4M
    PHOENIX – American Realty Capital Healthcare Trust II, Inc. has purchased the office building at 13090 N. 94th Dr. in Peoria, AZ from The Plaza Companies for $5.35 million, or about $158 per square foot. Built in 2002, the 33,738-square-foot property sits on 3.1 acres in the Arrowhead submarket of Maricopa County, part of the Plaza del Rio Medical Campus. The Plaza Medical & Research Center - Phase II building was 97 percent occupied at...

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Jon Hammond, CCIM
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