Arizona LandSource Team LandSource
Colliers International in Greater Phoenix

Greater Phoenix

Phoenix Office
2390 E Camelback Road
Suite 100
Phoenix, AZ 85016
USA
Main: + 1 602 222 5000
Fax: + 1 602 222 5001

Scottsdale Office
14080 N Northsight Blvd
Scottsdale, AZ 85260
USA
Main: + 1 480 596 9000
Fax: + 1 480 948 0502

Bob Mulhern
Senior Managing Director
Greater Phoenix
Direct: +1 602 222 5038
bob.mulhern@colliers.com

Commercial Real Estate News

Featured Press Releases & News | LandSource Team

Colliers International Research Reports
Colliers International Reports Land Sales Accelerating in Greater Phoenix

August 23, 2017 – The pace of land sales in Greater Phoenix picked up during first half of 2017, fueled by demand for housing and strong fundamentals in commercial development. Price gains were strongest for parcels intended for commercial and industrial uses. Sales of land parcels intended for residential development accounted for more than half the total land transactions thus far.

Land sale at the southeast corner of Van Buren Road and Estrella Parkway in Goodyear, Arizona
Colliers International Negotiates $3.1 Million Land Sale in Goodyear, Arizona

May 31, 2017 – Colliers International in Greater Phoenix negotiated the $3.1 million sale of a 16.97-acre parcel at the southeast corner of Van Buren Road and Estrella Parkway in Goodyear. Chaz Smith, John Finnegan and Ramey Peru of Colliers negotiated the sale. NexMetro Development LLC purchased the parcel from Goodyear Estrella LLZC. The buyer plans to develop a multifamily project on the site.

Developer Purchases $3.2 Million Parcel for New Senior Living Facility in Chandler

May 15, 2017 – Colliers International in Greater Phoenix negotiated the $3,200,427 sale of a 5.84-acre parcel located at the northeast corner of 94th Street and Pecos Road in Chandler. Chaz Smith, John Finnegan and Ramey Peru of Colliers represented the seller, Henry Bosma (Arizona Acres and Cinder Butte Properties, Inc.). The property will be the site of the $40 million Park at Copper Creek Independent Living facility.

Willetta Street and Central Avenue Land Aerial
New Apartments, Creative Offices Planned for Central Avenue

Mar. 13, 2017 – A partnership of Tilton Development Co, Ryan Cos. and Hunt Investment Co. paid $4.5 million for just under 1.6 acres of land in downtown Phoenix. The trio plans to build 227 apartments and creative office space on the land. The parcel is at Central Avenue and Willetta Street just north of Burton Barr Library and south of McDowell Road. Chaz Smith, John Finnegan and Ramey Peru of Colliers International represented the buyers.

Chaz Smith, Colliers International, LandSource Team
Land Team Negotiates Acquisition of Goodyear Land for Multifamily

Feb. 17, 2017 – Rockefeller Group & Investment Property Associates, LLC  will develop two new “Liv”-branded Class A apartment communities in the metro-Phoenix area. The projects, located in the Deer Valley submarket of Phoenix and in Goodyear, will total 711 units. Rockefeller Group & IPA were represented by Chaz Smith and John Finnegan of Colliers on the Goodyear land acquisition.

Q3 | 2017 | Press Releases

  • Colliers International Negotiates Office Building Acquisition by Riverview Drive, LLC

    Riverview Drive, LLC purchased a freestanding office building at 3118 E. McDowell Road in Phoenix and leased it to ABC Ambulance as its new headquarters. Greg Hopley with Colliers represented the buyer in the acquisition of the 13,000-square-foot building for $1,175,000.

  • Colliers International Sells Marble Creek Apartments in Phoenix for $16.75 Million

    Colliers International negotiated the $16.75 million sale of Marble Creek Apartments at 4601 W. McDowell Road in Phoenix. Trevor Koskovich, Bill Hahn and Jeff Sherman of Colliers brokered the sale. The seller was Marble Creek, LLC, of Arizona; and the buyer was WWC (Western Wealth Capital) Holdings, LLC, of Arizona.

  • Colliers International Sells Woodcreek Apartment Homes in Las Vegas for $16 Million

    Colliers International completed the $16 million sale of The Woodcreek Apartment Homes at 4485 Pennwood Avenue in Las Vegas. Thomas Olivetti of Colliers' Las Vegas office and Bill Hahn, Trevor Koskovich, and Jesse Hudson of Colliers’ Phoenix office negotiated the sale. Tablerock Capital LLC of Idaho purchased the property from Pennwood Partners of Nevada.

  • Wade Nelson Named Senior Vice President, Property Tax Services, Colliers International

    Wade Nelson was named senior vice president of Property Tax Services for Colliers International, marking an expansion of client services for Colliers. Nelson, a seasoned veteran of the property tax industry, will be responsible for growing real estate tax services and tax appeal resources within the United States, serving Colliers’ internal stakeholders and their clients.

  • John Smeck Joins Colliers International in Greater Phoenix as SVP, Mortgage Advisory

    John C. Smeck III was named Senior Vice President, Mortgage Advisory at Colliers International in Greater Phoenix. Smeck will initially create a fully integrated debt and equity platform for the Arizona operations. He then will assist in the company’s national effort to roll out the program throughout the United States as leader in the West.

  • Colliers International Reports Land Sales Accelerating in Greater Phoenix

    The pace of land sales in Greater Phoenix picked up during first half of 2017, fueled by demand for housing and strong fundamentals in commercial development. Price gains were strongest for parcels intended for commercial and industrial uses. Sales of land parcels intended for residential development accounted for more than half the total land transactions thus far.

  • Colliers International Negotiates Medical Office Building Acquisition

    The Valbuena Institute purchased a 6,512-square-foot medical office building at 9831 E. Bell Road in Scottsdale for $1,321,936. Philip Wurth with Colliers’ Scottsdale office represented Valbuena. The Institute will relocate its Valbuena Wellness Center to the property.

  • Colliers International Reports Tucson Multifamily Market Rent Growth Spurs Investment

    The Tucson multifamily real estate market posted mixed results during the second quarter of 2017, according to Colliers International in Greater Phoenix. Significant rent growth is motivating more investment in the marketplace, despite higher vacancy. Rental rates have risen five percent in the past 12 months, marking the largest year-over-year increase recorded in recent years.

  • Colliers International Reports Phoenix Investment Real Estate Market Picks Up

    The Greater Phoenix real estate investment market started the year slow, but reversed course during second quarter. The most recent three months posted more property sales, higher prices and compressed cap rates, according Colliers International. Sales of shopping centers recorded one of the most dramatic increases during second quarter, spiking more than 50 percent over the first three months.

  • Colliers International Reports Greater Phoenix Multifamily Market Remains Strong

    Greater Phoenix continues its strong multifamily real estate performance, with the first half of 2017 posting increasing rents, strong construction and strengthening investment activity. Rental rates are rising at an accelerated pace, advancing 5 percent year-to-date. Construction of new multifamily communities has been very active with more than 1,800 new units coming online during second quarter.

  • Colliers International Sells East Valley Office Condos to Expanding Businesses

    Two East Valley businesses purchased office condominiums with an eye for future growth. Philip Wurth, executive vice president with Colliers in Greater Phoenix, negotiated the sale of the condos in Chandler Gateway Office Park at 4015 W. Chandler Blvd., in Chandler; and Pointe Office Suites at 2221 W. Baseline Road in Tempe.

  • Colliers International Reports Greater Phoenix Industrial Market Poised to Accelerate

    The Greater Phoenix industrial market posted strong performance in the first half of 2017, and all indicators point to an acceleration of activity in the final six months of the year. The predictions are part of the second quarter industrial market report from Colliers International in Greater Phoenix.

  • Colliers International Sells Raintree Apartments in Tucson for $12.47 Million

    Colorado-based SPL Real Estate and Management Company purchased the Raintree apartment community at 6450 E. Golf Links Road in Tucson for $12,475,000. The seller was Summit Raintree, LLC, a Delaware limited liability company. Trevor Koskovich, Bill Hahn and Jesse Hudson of Colliers International in Greater Phoenix handled the sale transaction.

  • Declining Vacancy Spurs New Spec Construction in Greater Phoenix Office Market

    Colliers International in Greater Phoenix released its mid-year office market report. Despite a slow start in the first quarter, conditions in the Greater Phoenix office market strengthened in second quarter. Net absorption remains positive, rents are rising and the vacancy rate is declining. Strong market conditions have spurred speculative construction of new office projects.

  • Colliers International Forecasts Improvement in Greater Phoenix Retail Real Estate

    Colliers International in Greater Phoenix forecasts improvement in the retail sector for second half of 2017. Absorption slowed during the second quarter, but investors were busy purchasing retail properties. The investment market strengthened in the second quarter with sales of shopping centers accelerating and prices rising.

  • Colliers International Sells Las Vistas at Papago Park Apartments for $13.55 Million

    Las Vistas at Papago Park, a 13-building apartment community at 1010 N 48th Street in Phoenix, sold for $13.55 million to an entity sponsored by Avenue North, LLC of Phoenix. Bill Hahn, Trevor Koskovich and Jeff Sherman with Colliers in Greater Phoenix negotiated the sale transaction.

  • Colliers International Sells Store Safe Self Storage in Fountain Hills, Arizona

    Florida-based Southern Self Storage purchased the Store Safe Self Storage at in Fountain Hills, AZ, for $6,175,000. Tyler Bush, Tom Gustafson and Gary Cooper with Colliers International's Self Storage Group represented the seller and procured the buyer. Store Safe Self Storage contains 446 storage units on 2.63 acres of land.

LandSource Team


Atlanta