What's Hot

    Plan Revisions in Marana Would Yield New Commercial and Residential Developments

    August 26, 2025

    Mortenson to Build Mixed-Use Master Plan on Former Coyotes N. Phoenix

    August 26, 2025

    Round 3 of BuildItAZ Grants Announced

    August 26, 2025
    Facebook Twitter Instagram
    AZBEX
    NEWS TICKER
    • [August 26, 2025] - Plan Revisions in Marana Would Yield New Commercial and Residential Developments
    • [August 26, 2025] - Mortenson to Build Mixed-Use Master Plan on Former Coyotes N. Phoenix
    • [August 26, 2025] - Round 3 of BuildItAZ Grants Announced
    • [August 26, 2025] - Industry Professionals 08-26-25
    • [August 26, 2025] - Commercial Real Estate 08-26-25
    • [August 22, 2025] - 383-Unit Multifamily Project Recommended by Goodyear P&Z
    • [August 22, 2025] - Aviation Training Center Planned for Mesa-Gateway Airport
    • [August 22, 2025] - Magazine Tackles Construction Crisis by Inspiring Teen Girls to Enter Skilled Trades
    Facebook Twitter YouTube LinkedIn
    • Home
    • News
      1. View Latest
      2. Planning & Development
      3. Local News
      4. Classifieds
      5. Editorial Analysis
      6. Budgets & Funding
      7. Commercial Real Estate
      8. People on the Move
      9. Arizona Projects
      10. Legislation & Regulations
      11. Trends

      Plan Revisions in Marana Would Yield New Commercial and Residential Developments

      August 26, 2025

      Mortenson to Build Mixed-Use Master Plan on Former Coyotes N. Phoenix

      August 26, 2025

      383-Unit Multifamily Project Recommended by Goodyear P&Z

      August 22, 2025

      Aviation Training Center Planned for Mesa-Gateway Airport

      August 22, 2025

      Round 3 of BuildItAZ Grants Announced

      August 26, 2025

      Magazine Tackles Construction Crisis by Inspiring Teen Girls to Enter Skilled Trades

      August 22, 2025

      Old Town Scottsdale to See $40M in Improvements

      August 20, 2025

      Ariz. Construction Lost 400 Jobs in July

      August 19, 2025

      Scottsdale Hospitals War May Heat Up with New Banner Request

      July 29, 2025

      Glendale Voters to Determine VAI Resort’s Fate

      May 16, 2025

      Legislation Would Effectively Strip NIMBYs of Referendum Tool

      February 11, 2025

      2025 Forecast Tries to Clarify an Uncertain Market

      February 7, 2025

      RTA Funding Proposal Stirs Controversy

      August 15, 2025

      Ariz. LIHTC to Sunset Under New Budget

      July 8, 2025

      State Government Shutdown Averted as Hobbs Signs Budget

      July 1, 2025

      Arterial Life Cycle Program Covers 20 Years of Street Development

      June 27, 2025

      Commercial Real Estate 08-26-25

      August 26, 2025

      Commercial Real Estate 08-19-25

      August 19, 2025

      Commercial Real Estate 08-12-25

      August 12, 2025

      Commercial Real Estate 08-05-25

      August 5, 2025

      Industry Professionals 08-26-25

      August 26, 2025

      Industry Professionals 08-19-25

      August 19, 2025

      Industry Professionals 08-12-25

      August 12, 2025

      Industry Professionals 08-05-25

      August 5, 2025

      Arizona Projects 08-22-25

      August 22, 2025

      Arizona Projects 08-15-25

      August 15, 2025

      Arizona Projects 08-08-25

      August 8, 2025

      Arizona Projects 08-01-25

      August 1, 2025

      Tucson City Council Likely to Approve Water Restriction on Large

      August 19, 2025

      Ritz-Carlton Paradise Valley Fight Could End in Foreclosure

      August 15, 2025

      Ariz. Supreme Court Upholds Citizens’ Right to Halt Local Projects

      August 8, 2025

      Proposed Legislation Aims to Increase Housing Supply

      August 5, 2025

      Ariz. Construction Lost 400 Jobs in July

      August 19, 2025

      Experts Share on the Latest Industrial Trends at BEX Panel

      August 15, 2025

      Multifamily Developer Confidence Up in Q2

      August 12, 2025

      Ariz. Construction Gained 600 Jobs in June

      July 22, 2025

      Plan Revisions in Marana Would Yield New Commercial and Residential Developments

      August 26, 2025

      Mortenson to Build Mixed-Use Master Plan on Former Coyotes N. Phoenix

      August 26, 2025

      Round 3 of BuildItAZ Grants Announced

      August 26, 2025

      Industry Professionals 08-26-25

      August 26, 2025
    • AZBEX
      • Subscribe
      • Classifieds
      • Advertising
    • DATABEX
      • DATABEX Log-In
      • Webinars
      • Monthly Snapshot
    • Events
      • 2025 Hospitality LMS
      • 2025 Public Works Conference
    • About Us
      • Meet the Company
      • Meet the Sales Team
      • Meet the Editorial Team
      • Meet the BEXperts
    • CIP Special Report
    AZBEX
    Home » Commercial Real Estate » Commercial Real Estate News 04-25-23 
    Commercial Real Estate

    Commercial Real Estate News 04-25-23 

    BEX StaffBy BEX StaffApril 25, 2023No Comments3 Mins Read
    8. Elevance Health; Credit: Phoenix Business Journal
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Sales Transactions 

    1. Scottsdale-based Rise48 Equity paid $42M for its latest acquisition at 2015 W. Cactus Road in Phoenix. Plans call for investing an additional $5M into the 186-unit Springs Apartments according to a quote by Zach Haptonstall, CEO of Rise48 Equity. It will be rebranded to Rise Desert Cove. 

    2. Flagstaff Shelter Services has purchased a Motel 6 in Flagstaff for $8.95M to provide transitional housing to the unsheltered population. The facility is dubbed ‘The Lantern’ in a nod to the Motel 6 slogan ‘We’ll leave a light on for you’. 

    3. The State of Arizona has purchased an office property located at 2202 N. Forbes in Tucson for $8.2M. The acquisition will allow the consolidation of several agencies into one location for greater efficiency. An affiliate of Holualoa Companies was the seller. 

    4. A Missouri-based group purchased the recently opened Portillo’s restaurant property at El Con Mall in Tucson for $5.7M. The seller was a Scottsdale-based retail developer that acquired and renovated the building and secured the tenant. Thomas Title & Escrow provided escrow services. 

    5. Colliers International in Arizona has negotiated a $5.5M purchase of the Black Canyon Office Center located at 13430 N. Black Canyon Hwy. Shree Investements LLC,  a real estate investment company based in Minnesota is the buyer. Greg Hopley and Dillon Hopley with Colliers in Arizona worked in conjunction with Nick Levithon of Colliers in Minnesota to represent the buyer in the purchase. The seller was Net 1 Phoenix LLC. The seller was represented by Mindy Korth of Colliers in Arizona. Black Canyon Office Center is a two-story, Class A office building with approximately 139KSF of rentable space. Built in 1981 and sitting on 13.39 acres of land, the building was 55% occupied at the time of the sale. 

    6. ABI Multifamily is pleased to announce the $2,272,500 / $284,063 per unit / $355.08 per square foot sale of 3526 East Montecito Avenue, an 8-unit multifamily apartment community located in Phoenix, Arizona. The buyer and seller were represented by ABI Multifamily’s Mitchell Drake, Dallin Hammond, and Carson Griesemer. The buyer is based in California and the seller is based in Arizona. The property is situated within the Arcadia Lite District, specifically, in the highly sought-after 85018 zip code. 3526 East Montecito Avenue was originally built in 1958, renovated in 2018 and is of block construction. 

    7. Nick Miner, CCIM of ORION Investment Real Estate, represented the buyer, Corridor Living, LLC, of the ± 8,062-square-foot two-tenant, retail center in Surprise, Arizona for $2,050,000 or $254 per-square-foot. The property is in the Surprise Village Shopping Center at Litchfield and Bell Roads. Seller, Malcolm Family, LP was represented by Bobby Raines of Americor Investment. 

    Lease Transactions 

    8. Elevance Health inked a lease in a flex office space near the Loop 101 and Loop 202 interchange in Chandler. The Indianapolis-based insurance firm took 32KSF at the San Tan Tech Center, at 145 S. 79th St., near Chandler Boulevard and McClintock Drive. 

    9. The Manning Group, LLC, a provider of services for contract office furniture, leased 22KSF of industrial space at 576 E. 16th St. in Tucson, from SYDCO Sixteenth Street, LLC. Stephen D. Cohen, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Jason Malcolm with Cresa, Phoenix, represented the tenant.  

    10. American Hose, LLC leased 10KSF of industrial space at South Dodge Business Center, 3645 E. 44th St., in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email

    Related Posts

    Commercial Real Estate 08-26-25

    August 26, 2025

    Commercial Real Estate 08-19-25

    August 19, 2025

    Commercial Real Estate 08-12-25

    August 12, 2025

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Our Picks

    Plan Revisions in Marana Would Yield New Commercial and Residential Developments

    August 26, 2025

    Mortenson to Build Mixed-Use Master Plan on Former Coyotes N. Phoenix

    August 26, 2025

    Round 3 of BuildItAZ Grants Announced

    August 26, 2025

    Industry Professionals 08-26-25

    August 26, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • LinkedIn
    • YouTube
    Don't Miss
    Planning & Development

    Plan Revisions in Marana Would Yield New Commercial and Residential Developments

    August 26, 20250

    By Roland Murphy for AZBEX Developer Bourn Companies and property owner Red Point Development have…

    Mortenson to Build Mixed-Use Master Plan on Former Coyotes N. Phoenix

    August 26, 2025

    Round 3 of BuildItAZ Grants Announced

    August 26, 2025

    Industry Professionals 08-26-25

    August 26, 2025

    BEX serves architecture, engineering and construction firms as well as all the ancillary product and service categories that market to them. These include manufacturing representatives, public agencies and private real estate organizations, specialty subcontractors and services providers related to our industry.

    Our Picks

    Plan Revisions in Marana Would Yield New Commercial and Residential Developments

    August 26, 2025

    Mortenson to Build Mixed-Use Master Plan on Former Coyotes N. Phoenix

    August 26, 2025

    Round 3 of BuildItAZ Grants Announced

    August 26, 2025
    Contact Us

    Phone: 480-709-4190
    Address: P.O. Box 12196 Tempe, AZ 85284
    Email: sales@azbex.com

    Type above and press Enter to search. Press Esc to cancel.