Author: BEX Staff

Sales Transactions 1. Camden Property Trust plunked down $97M for the 316-unit, low-rise property at 7350 E. Stetson Dr., Scottsdale. The community was built in 2015 and was known until this month as The Stetson. Camden has renamed it Camden Old Town Scottsdale. CBRE’s investment sales team led by Asher Gunter represented the seller, Cottonwood Residential. 2. HSL Properties, through its affiliate HSL Bear Canyon Apartments, sold Bear Canyon Apartments at 9055 East Catalina Highway in Tucson for $35.6M to M3 Multifamily Fund. Art Wadlund and Clint Wadlund of Berkadia in Tucson represented the seller. 3. On behalf of Conor Commercial…

By Tasha Anderson for AZBEX Wood Partners is proposing to bring new life to an underutilized property near the NWC of Raintree Drive and Pima Road in Scottsdale, with plans for a new 330-unit residential development. A request was recently submitted to the City of Scottsdale for a minor General Plan Amendment from Airpark Mixed Use to Airpark Mixed Use-Residential on +/- 5.56 acres at 8688 E. Raintree Drive. A rezoning of +/-13.08 acres (which includes the 5.56 acres) from Central Business to Planned Airpark Core- Airpark Mixed Use Residential and Airpark Mixed Use with Planned Shared District Overlay was…

Source: City of Glendale Glendale City Council recently approved a development agreement supporting RRB Beverage Operations Inc. for a new, multimillion-dollar facility at the SEC of Reems Road and Peoria Avenue in the Woolf Logistics Industrial Campus. The first phase of this flagship development will bring an approximately 700KSF building and over 140 new jobs to Glendale. “It’s quite a testament to what Arizona has to offer when three major brand names — Ball, Rauch and Red Bull — choose our state for a project of this size,” said Arizona Governor Doug Ducey. “We could not be more pleased that…

Awards & Accolades 1. Brandon Rodgers, SIOR, CCIM of Cushman & Wakefield | PICOR, has achieved the SIOR industrial designation awarded by the Society of Industrial and Office REALTORS®. 2. Colliers International in Arizona has announced its 2018 Top Producers. The field of men and women represent a wide variety of real estate categories. They are: Todd Noel, CCIM, senior executive vice president in Office Properties Cindy Cooke, senior executive vice president in Multifamily Properties Ryan Timpani, executive vice president in Office Properties James Meng, senior vice president in Hospitality Properties Mindy Korth, executive vice president in Investment Properties Philip Wurth, CCIM,…

Groundbreakings 1. LGE Design Build, in partnership with Clarius Partners LLC, have broken ground on the 791KSF The HUB at Goodyear, 305 S. Bullard Ave. The HUB at Goodyear is being developed on a fully speculative basis. The development team has named JLL as the project’s exclusive leasing broker. 2. The Pine-Strawberry Fire District recently celebrated breaking ground on new crew quarters at the Strawberry Fire Station on March 4. Construction of the 1,335-square-foot crew quarters should be done by the end of June. The general contractor is Barry Hoff Contracting. 3. Live Forward Ventures and Brokers Hub Realty announced the development…

By Rebekah Morris for AZBEX Last week the City of Maricopa hosted their quarterly Commercial Real Estate update with representatives from two key developments available to answer questions from residents and interested parties alike. Nearly 90 people registered for the event, a record high according to Economic Development Director Denyse Airheart. Starting with the long and sustained influx of new residents, Airheart described the need for commercial development to stop the leakage of income for the city. Of note to commercial developers is that the amount of dollars going to nearby suburbs of Chandler, Casa Grande and the like is…

Sales Transactions 1. Cushman & Wakefield completed the $44.5M sale of Lakeside Drive, a 150-unit Class A, luxury rental community at 500 W. 1st Street in Tempe. Lakeside Drive Apartments, LLC, purchased the property from Broadstone Lakeside, LLC, an entity formed by Alliance Residential and Cottonwood Residential. Executive Managing Directors David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller. 2. Larsen Baker, through its affiliate Manzanita Investment Group, LLC, purchased Manzanita Plaza, a 116.4KSF neighborhood center at the NWC of Valencia and Cardinal Rd in Tucson, for $15.15M. David Murphy and David Bernstein of Bernstein Murphy represented the seller,…

By Sammy Williams for AZBEX Late last month, the City of Chandler voted to approve an amendment to the Downtown Ocotillo Area Plan from commercial to multifamily residential to accommodate a new 32-unit condominium development. Developer HCW LLC of Phoenix requested rezoning with the intent to develop Valerio at Ocotillo, a residential condominium community, on 5.6 acres east of the SEC of Price and Queen Creek Roads. Starting at $600K, the single-story detached residences range from 1700 to 2290 SF with six custom floor plans available, including 29 three-bedroom and three two-bedroom units. The gated development features a private community…

By Sammy Williams for AZBEX Developer Diversified Realty Services, Inc. of Scottsdale is hoping the remodeling craze in Central Phoenix isn’t slowing down anytime soon. Late last month, they submitted a PUD statement to the City of Phoenix in hopes of building a Home Depot on an 8.72 net acre site on the SWC of Indian School Road and 22nd Street. The nation’s largest home improvement retailer, Home Depot, “has improved and refined its business operation and store layouts, building their stores and garden centers from the ground to implement their evolving vision of what a Home Depot should be,…

Giving Back 1. The Sundt Foundation donated $5,425 to Hoofbeats with Heart and has awarded a total of $92,825 in grants to 24 additional local nonprofits around the Valley during its first-quarter disbursements. The Foundation also awarded a total of $18,500 in grants to nine Tucson-area nonprofits. 2. The 2019 Belfiore Bash Cornhole Charity Tournament raised an estimated $29K for The Care Fund – enough to support at least 29 families struggling through treatment of their seriously ill children. Awards & Accolades 3. Randall “Randy” D. Harris, P.E., managing director for Western Technologies Inc., was recognized as the 2019 Southern Arizona Engineer…