Press Releases | Q2 2016
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

Colliers International
Press Releases | Q2 2016

Updates about our company, transactions, people and research.

Q2 | 2016 | Press Release Archive

  • Colliers Selected as Exclusive Leasing Agent of Prestigious Biltmore Center

    June 16, 2016 – Colliers International in Greater Phoenix has been selected by ViaWest Group to serve as exclusive leasing agent for Biltmore Center (previously Biltmore Financial Center), a landmark Class A office complex at the northwest corner of 24th Street and Camelback Road. “Our team could not be more excited to partner with ViaWest on this unique opportunity” says Phil Breidenbach, SIOR. Breidenbach, Todd Noel, CCIM, Kathy Foster, MCR and Ryan Timpani will be handling leasing for the property.

  • Colliers International Renovates Office to Create Collaborative Environment; New Office to Feature a Hub and Huddle Areas

    June 15, 2016 – Colliers International in Greater Phoenix recently completed an office renovation at the Biltmore Financial Center, creating an inviting open concept that fosters collaboration and creativity, increases efficiency and enables brokers to better serve clients. Colliers held visioning sessions and conducted internal surveys during a two-year comprehensive workplace strategic review process to determine how its team uses its 19,500-square-foot office space, examining Colliers’ multi-generational workforce with a wide variety of expertise.

  • The Park at Deer Valley Apartments in Phoenix Nets $33 Million

    June 9, 2016 – Colliers International in Greater Phoenix negotiated the sale of The Park at Deer Valley apartments at 17425 N. 19th Ave., in Phoenix, for $33 million or $75,688 per unit. Executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich with Colliers’ Phoenix office represented both the buyer and seller. The seller was Bruckal Properties, Inc., of Kelowna, British Columbia, Canada. The buyer was a private investor, Billah Khan of Phoenix.

  • Colliers Negotiates Sale of Bullhead City Apartment Complex

    June 8, 2016 – Colliers International in Greater Phoenix has negotiated the sale of Adobe Highlands in Bullhead City to a private equity firm based in Irvine, CA. Adobe Highlands, located at 1618 Gold Rush Rd., is comprised of eight buildings with 125 apartment units. Bill Hahn negotiated the sale with Jeff Sherman and Trevor Koskovich of Colliers International, representing both the buyer and seller. Thompson Corporation of Brookfield, WI sold the asset to Adobe Highlands Management LP.

  • Crosswinds Apartment Homes Sell for $22 Million in Chandler, Arizona

    June 7, 2016 – Colliers International in Greater Phoenix completed the sale of the 374-unit Crosswinds Apartment Homes at 868 S. Arizona Ave., in Chandler, Ariz., for $22 million or approximately $58,824 per unit. Cindy Cooke, senior executive vice president; and Brad Cooke, senior vice president, with Colliers’ Phoenix office, represented the sellers, P.B. Bell of Scottsdale, Ariz.; and Stonecutter Capital Management LLC of New York, N.Y.

  • Las Brisas Apartments Sell for $6.25 Million in Casa Grande, Arizona

    June 6, 2016 – Colliers International in Greater Phoenix completed the sale of the 132-unit Las Brisas Apartments at 1000 N. Arizola Rd. in Casa Grande, Ariz., for $6.25 million or approximately $47,349 per unit. Bill Hahn, Jeff Sherman and Trevor Koskovich, executive vice presidents with Colliers’ Phoenix office, represented both the seller and buyer. The seller was Ronald Hansman of Redwood City, Calif. The buyer was California Capital Real Estate Advisors of Pasadena, Calif., who plans moderate property upgrades.

  • Colliers International Sells Two Phoenix Apartment Assets for $13.75 Million

    June 2, 2016 – Colliers International in Greater Phoenix negotiated the sale of two apartment assets in Phoenix for a combined total of $13.75 million. Warren House East at 2911 E. Indian School Road in Phoenix, consists of 258 units and sold for $10.75 million or $41,667 per unit. Warren House North at 6060 N. 7th Street in Phoenix, consists of 67 units and sold for $3 million or $44,776 per unit. Executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich with Colliers’ Phoenix office, represented both the seller and buyer.

  • Sale of Approximately Eight Acres in Chandler, Arizona, for $2.43 Million, Buyer Plans Commercial Development

    May 26, 2016 – Colliers International in Greater Phoenix negotiated the sale of approximately eight acres of PAD-zoned land in Chandler, Arizona, for $2,433,261 million or approximately $6.98 per square feet. The parcel is located north of the northeast corner of Juniper Drive and Chandler Boulevard within Chandler Corporate Center. Greg Hopley, executive vice president in Colliers’ Scottsdale office, represented the buyer, DPMG Juniper LLC, a Phoenix-based investor. Paul Sieczkowski, SIOR, executive vice president in Colliers’ Phoenix office, represented the seller, Hull Farms, Inc.

  • Multifamily Vacancy Dips, as Rents and Sales Prices Surge in Greater Phoenix; Forecasts Strong Property Performance

    May 23, 2016 – Colliers International released its Greater Phoenix Multifamily Research and Forecast Report for first quarter 2016. The Greater Phoenix multifamily remains on a roll and is forecast to continue the extended run of strong property performance through the rest of this year. Vacancy reached a 20-year low during the first quarter, even as new development continues at a healthy clip, and is forecast to remain low.

  • Colliers International Continues to Expand Retail Services with New Hires

    May 9, 2016 – Colliers International in Greater Phoenix announced that Larry Miller, Jr., and John Jackson joined the Phoenix office as associate vice presidents, specializing in the sale and leasing of retail properties, working on behalf of both landlords and tenants. “Larry and John are terrific retail agency brokers who bring extensive experience and an excellent skillset in landlord and tenant representation and investment sales,” said Bob Mulhern, senior managing director of Colliers International in Greater Phoenix.

  • Tenant Demand for Medical Office Continues to Rise in Greater Phoenix; Colliers in Greater Phoenix Reports a Mixed Start to 2016 for Medical Office

    May 4, 2016 – Colliers International in Greater Phoenix released its Medical Office Research and Forecast Report for first quarter 2016. Conditions were mixed in the Greater Phoenix medical office market in the first quarter. Vacancy ticked lower, but the rate rose in on-campus buildings. Across the market, rents dipped in the first quarter, but have inched higher over the past year. This uneven performance in medical office conditions is in contrast to the overall office market. While the healthcare business model has been undergoing changes in recent years, tenant demand for medical office buildings has been on the rise.

  • Greater Phoenix Retail Market Off to a Quick Start in First Quarter 2016; Retail Net Absorption Rising, Vacancy Tightening, Rents Ticking Up

    May 2, 2016 – Colliers International in Greater Phoenix released its Retail Research and Forecast Report for first quarter 2016. The Greater Phoenix retail market opened 2016 on a fairly high note, with net absorption surging during a time that is typically a soft period. Net absorption topped 675,000 square feet, the strongest first quarter for net tenant demand since 2008. Continued absorption is anticipated in the quarters ahead, bringing the forecast total for all of 2016 to approximately 2.2 million square feet.

  • Silver Cliffs Apartment Homes Sell for $8.95 Million in Bullhead City, Arizona

    April 25, 2016 – Colliers International in Greater Phoenix negotiated the sale of Silver Cliffs Apartment Homes at 1570 Paseo Grande in Bullhead City, Arizona, for $8.95 million or $55,590 per unit. Colliers International’s executive vice presidents Bill Hahn, Jeff Sherman and Trevor Koskovich represented both the seller and buyer. The seller was Thompson Corporation of Brookfield, Wisconsin. The buyer was Walika Properties of Van Nuys, California, a private investment company specializing in multifamily and commercial properties.

  • Colliers International Sells Villas at Montebella for $4.6 Million; 100-Unit Apartment Community in Peoria, Arizona

    Phoenix, April 25, 2016 – Colliers International in Greater Phoenix negotiated the sale of Villas at Montebella, a 100-unit apartment asset at 10860 N. 85th Avenue in Peoria, Arizona, for $4.6 million or $46,000 per unit. Executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich with Colliers represented both the seller and buyer. The seller was WE Villas at Montebella, LLLP (Raffaelle Sabatino, principal) of Saint Leonard, Quebec, Canada. The buyer was Villas at Montebella, LLC, a company formed by Shon Brown, a private investor in Peoria, Arizona.

  • Greater Phoenix Office and Industrial Markets Report Lower Vacancy, Positive Absorption, Rising Rents in First Quarter 2016

    April 18, 2016 – Colliers International in Greater Phoenix released its Office and Industrial Market Reports for first quarter 2016. The Greater Phoenix office market got off to a steady start during the first quarter. Net absorption was positive, vacancies ticked lower and rents rose. The first quarter was an active period for both supply and demand growth in the industrial market. Some of the persistent demand is being driven by accelerating job growth, which has been widespread across industries, with the construction segment posting the fastest rate of expansion.

  • $15.35 Million Sale of Sonoma Terrace Apartments in Glendale, Arizona, by Colliers' Hahn, Sherman and Koskovich

    April 5, 2016 – Colliers International in Greater Phoenix completed the sale of the Sonoma Terrace apartments at 5220 W. Northern Ave., in Glendale, Arizona, for $15.35 million or approximately $59,038 per unit. Executive Vice Presidents Trevor Koskovich, Bill Hahn and Jeff Sherman, with Colliers’ Phoenix office, represented both the seller and buyer. The seller was Mentor Properties, Inc., of Scottsdale, Arizona. The buyer was Phoenix-based 3rd Ave Investments, a real estate investment and management firm specializing in Arizona multifamily assets.

  • San Simeon Apartment Community in Tucson Sells for $3.74 Million by Colliers' Hahn, Sherman and Koskovich

    April 6, 2016 – Colliers international in Greater Phoenix negotiated the sale of San Simeon, an apartment community located at 6091 E. Golf Links Road in Tucson, Arizona. The 70-unit asset sold for $3.74 million or approximately $53,428 per unit. Bill Hahn, Jeff Sherman and Trevor Koskovich, executive vice presidents with Colliers’ Phoenix office, represented the seller, Corey Peterson of Gilbert, Arizona. The property was acquired by MCFT Holdings, LLC, a company formed by San Diego-based McMillin Homes, who was self-represented.

  • Colliers International Expands with Hospitality Investment Team

    April 4, 2016 – Colliers International in Greater Phoenix announced its expansion into hospitality investment services with the addition of James Meng, vice president; and Jon Grantham, associate vice president. Meng and Grantham specialize in hospitality investment properties, including branded and boutique assets, throughout the Western United States. Working on behalf of private investors, hotel investment companies, offshore investors, private equity funds, pension funds and public companies, the team provides advisory services and representation in the disposition, acquisition, management, financing and portfolio restructuring of hospitality assets.

Greater Phoenix
2390 E. Camelback Road, Suite 100 Phoenix, AZ 85016 United States | Tel: +1 602 222 5000