Phoenix/Tucson Commercial Real Estate News From CoStar Group


    CoStar's People of Note (May 27)
    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: Boston, Chicago, Atlanta, Phoenix / Tucson, Charlotte, New York City, Los Angeles, Washington DC, Austin, Philadelphia, Westchester / Connecticut, Houston, and South Florida. BOSTON Avison Young Hires Colliers Execs for Northeast Expansion By Kara Franz
    Hilliard Creations Signs Lease in Tucson
    Hilliard Creations LLC has signed a lease to occupy the entire industrial building at 700-702 E. Fair St. in Tucson, AZ. The tenant manufacturers metal parts used for a variety of applications. The single-story, 33,797-square-foot industrial building was originally built in 1942 on 1.4 acres in the Park / Ajo Industrial submarket of Pima County. Ron Zimmerman of Cushman & Wakefield | Picor represented the landlord, Atlantic National Trust...

    LPC Hires Orsak as Director
    Lincoln Property Company - Desert West has hired 15-year industry veteran John Orsak as a director of real estate. In his new role, Orsak will focus on acquisitions, dispositions, development, leasing and asset management in the firm's Phoenix, AZ office. Orsak previously served as director of operations and project manager at Hines, and as senior director of development for VanTrust Real Estate before that. Orsak holds a bachelor's degree...

    Friedman Recycling Leases 3 Bldg Industrial Campus
    Friedman Recycling, a leader in recycling, solid waste control and secure data destruction services, has leased three buildings totaling 110,550 square feet at 3602 W. Lincoln St. in Phoenix, AZ. Built in 1978, 1985 and 1997, the three properties are located in the Valley Aluminum business park, within the Southwest North of Buckeye Road Industrial submarket of Maricopa County. Stein Koss, Tom Louer and Peter Batschelet of Lee & Associates...

    Walling Affordable Communities Acquires Alta Vista Village Apts
    Walling Affordable Communities LP acquired the Alta Vista Village Apartments at 4510-4647 N. 39th Ave. in Phoenix, AZ, from an individual owner for $5.53 million, or approximately $30,000 per unit. Built in several phases from 1959 to 1973, the property features a mix of studios, one-, two-, and three-bedroom units with a weighted average unit size of approximately 765 square feet. Alon Shnitzer, John Kobierowski, Rue Bax, Doug Lazovick and...

    Canada?s Western Wealth Capital Goes on Shopping Spree in Phoenix
    Western Wealth Capital Ltd., a Vancouver, Canada-based multiple-unit rental property investment firm, has become quite active in the Phoenix multifamily market this month. This week, it has acquired the Greater PHX IV Portfolio, a four-property, 748-unit, real-estate-owned portfolio for $41.5 million (about $55,480/unit). Last week it acquired 300 of the 440 total units in Signature Place Condominiums in Tempe, AZ, for $40 million (about $133...

    JLL Phoenix Announces Five Senior Level Promotions
    LtoR: Brett Abramson, Andrew Medley, Jason Moore, Charles Steele, Keith Lammersen JLL (NYSE: JLL) has promoted five brokers in its Phoenix, AZ office to senior-level positions. Andrew Medley has been promoted from vice president to executive vice president, while Brett Abramson, Keith Lammersen, Jason Moore and Charles Steele have been promoted to senior vice president. "Each of these individuals brings a unique skill set to our team," said Dennis...

    Colliers Expands Retail Services with Two New Hires in Phoenix
    Larry Miller, Jr. and John Jackson have joined Colliers International in Phoenix, AZ as associate vice presidents. The pair will specialize in the sale and leasing of retail properties on behalf of investors, landlords and tenants. Miller and Jackson were previously associate vice presidents with Velocity Retail Group. Miller brings more than 13 years of industry experience in addition to Jackson's 10 years in commercial real estate, specializing...

    Dollar Tree Preleases 10,000 SF in Tucson
    National discount retailer Dollar Tree has signed a 9,835-square-foot lease for the proposed freestanding retail building expected to break ground next month at the southwest corner of Cortaro Rd. and Arizona Pavillions Dr. in Tucson, AZ. The tenant will move into the new building when it delivers next summer, located in the Northwest Tucson Retail submarket of Pima County. Brenna Lacey and Dave Hammack of Volk Company represented the landlord...

    Sentinel Sells 328-Unit Tamarron Apts
    Copper Glen Management, Inc. has purchased the Tamarron Apartments at 4410 N. 99th Ave. in Phoenix, AZ from Sentinel Real Estate Corporation for $38.25 million, or roughly $117,000 per unit. Built in 2006, the two-story, 506,938-square-foot multifamily property offers 328 rental units on 21.4 acres in Maricopa County. Joe Dietz of ORION Investment Real Estate represented the buyer. Tyler Anderson, Sean Cunningham, Asher Gunter and Matthew...

    JLB Partners Sells 312 Units on 44th
    Simpson Housing acquired the 312-unit Citrine apartments at 4900 N. 44th St. in Phoenix, AZ from JLB Partners LP for more than $93.91 million, or $301,000 per unit. The property was about 25 percent rented at the time of sale. The 278,538-square-foot multifamily property was constructed in December 2015 and recieved the final certificate of occupancy the week prior to the sale. The property has 312 units with a mix of one- and two-bedroom layouts...

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Jon Hammond, CCIM
Phone: 480-283-3740
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Fax: 866-239-9988
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