In the News | Archive | Q1-Q2 2017
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 Colliers in Greater Phoenix

Q2 2017 | Colliers in the News

  • Environmental Consulting Firm Moves Headquarters to Phoenix Plaza

    June 26, 2017 - SWCA Inc., an employee-owned environmental consulting firm, leased 21,339 square feet of office space at 20 E. Thomas Rd. for expansion and relocation of its headquarters. Todd Noel, with Colliers International, negotiated the transaction on behalf of SWCA. “The large, efficient floorplates, high-end finishes, and proximity to walkable amenities made this the most attractive option in the marketplace for my client.”

  • Developer Starts Building The Block in Scottsdale

    June 26, 2017 - MainSpring Capital has started construction on a 22-acre retail and mixed-use development in Scottsdale at the Loop 101 freeway, near Via de Ventura and Pima Road. The development is called The Block at Pima Center. Stan Sanchez, JK Jackson and Larry Miller with Colliers International are the leasing team for the retail components of The Block.

  • Redevelopment Plans will Transform Phoenix Hotel into Senior Housing

    June 23, 2017 - A partnership between Bruckal Developments and Ridgeline Properties purchased the former Country Inn & Suites property at 20221 N. 29th Ave. for a price of $8,336,000. The buyer plans to convert the property into senior housing-assisted living and memory care. Tim Dulany, vice president of Colliers International in Greater Phoenix, negotiated the transaction.

  • Colliers International's Kathy Foster Receives 2017 Journal Award

    June 14, 2017 - Kathy Foster, senior vice president with Colliers International in Greater Phoenix, has been recognized by the Arizona School of Real Estate & Business with a 2017 Journal Award. Foster, an office properties specialist, was honored at the annual awards presentation for having contributed greatly to the industry and provided service to the community.

  • Colliers’ Annual Report Illustrates Growth Plans for Scottsdale Airpark

    April 3, 2017 – Colliers International’s annual report shows growth plans for the Scottsdale Airpark commercial real estate market while undergoing transitions as plans are ongoing at the airport. Jim Keeley, founding partner of Colliers International’s Scottsdale office, released his annual Greater Scottsdale Airpark 2030 Report for last year. “This real estate cycle is quite different from those of the past 50 years,” Mr. Keeley said in the release. “We have far less vacant space because of job growth which has driven up the price of buildings.”

Q1 2017 | News Archive | Colliers in Greater Phoenix

  • Chandler Lands Regional Headquarters

    Mar 17, 2017 – Enterprise Holdings Inc. is landing regional headquarters operations in Chandler. Enterprise is moving from its current regional hub in south Tempe to space at Chandler Corporate Center. That is on McClintock Drive in between Ray Road and Chandler Boulevard. Phil Breidenbach of Colliers International represented the building owner, The Rockefeller Group/RG-MCCLINTOCK LLC.

  • Real Estate Dealmaker Looks to Bring in New Mixed-Used Development

    Mar. 17, 2017 – Veteran commercial real estate dealmaker Larry Ortega is looking to bring a second grocery store to downtown Phoenix and is marketing a 1.68-acre parcel at First Avenue and McKinley Street for a potential new mixed-use development. Ortega — an executive vice president with Colliers International (Nasdaq: CIGI) — is marketing the property for sale at $6.2 million or $85 per square foot. Ortega said development plans could entail 405 apartments, 82,000 square feet of office space and 20,000 square feet of retail.

  • Apartments Near Alma School Road Sell for $20 Million

    Mar. 16, 2017 – Fiesta Park Apartments at 1033 S. Longmore Rd. has been sold for $20 million. The property consists of 10, three-story apartment buildings that contain 320 units totaling 234,696 square feet. Bill Hahn, Jeff Sherman and Trevor Koskovich of Colliers International in Greater Phoenix represented the seller, Los Angeles-based private equity company BH Properties. The buyer was INCO Real Estate Company of Long Beach, CA

  • New Apartments, Creative Offices Planned for Central Avenue

    Mar. 13, 2017 – A partnership of Tilton Development Co, Ryan Cos. and Hunt Investment Co. has paid $4.5 million for just under 1.6 acres of land on the north end of downtown Phoenix. The trio plans to build 227 apartments and creative office space on the land along the Metro light rail. 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.

  • Biltmore Corporate Park Sells for $7 Million

    Mar. 2, 2017 – The Biltmore Corporate Park in Phoenix has been sold for $7.1 million. The office building is at 6245 N. 24th St. near Lincoln Drive. Art Cunningham’s Fountainhead Equity Partners and KEMF BCP Investments LLC were the buyers. The Johnson Grove Partnership was the seller. The new owners plan some modernizations and renovations. Ryan Timpani, senior vice president with Colliers International, helped broker the sale and has been retained as leasing agent.

  • Phoenix Real Estate 2017: Apartments Cool, Homebuilding Gains

    Mar. 1, 2017 – Construction of new apartments may finally be cooling and home building may be moving more this year. That is according to a new regional research report from Colliers International. Colliers researchers expect permits for single-family construction to hit 24,000 units in 2017. That is after a 10 percent gain in 2016 to 18,600 units. “In 2016, more than 9,400 multifamily permits were issued, up from permits for 5,400 units in 2015,” Colliers researchers write.

  • Tempe Data Center Sells for $16.4 Million

    Feb. 21, 2107 – A Florida-based real estate investment trust has bought a data center property in Tempe for $16.4 million. It’s located on 4.2 acres on Broadway Road near Interstate 10. The center has been home to T-Mobile US Inc. (Nasdaq: TMUS) operations. Carter Validus Mission Critical REIT II Inc. bought the Tempe data center from Scottsdale-based El Dorado Holdings Inc. for $371 per foot.Mindy Korth and Kirk Kuller of Colliers International and Luke Denmon of CBRE handled the sale and lease transactions for El Dorado.

  • Rockefeller Group and IPA to Develop Two New Class A Apartment Communities Totaling 711 Units in Arizona

    Feb. 17, 2017 – Rockefeller Group and Investment Property Associates, LLC (IPA) 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 and provide an amenity-rich lifestyle experience that is increasingly in demand as the region continues to benefit from some of the nation’s fastest population growth. Rockefeller Group and IPA were represented by Chaz Smith and John Finnegan of Colliers in Phoenix on the Goodyear land acquisition.

  • Phoenix Ranks as a Top 2017 U.S. Market for Industrial, Manufacturing

    Feb. 7, 2017 – Phoenix ranks among the top 10 markets to watch for industrial real estate in 2017, according to commercial real estate firm Colliers International (Nasdaq; CIGI). The industrial segment has seen growth in various parts of the Valley. Phoenix’s industrial vacancy rate ended the year at 10.2 percent — the lowest since 2007 and before the market crash and recession, according to Colliers. On the east side of Phoenix, Martensen is seeing more high-tech and other manufacturing landing.

  • First Tenants Sign at Liberty Logistics

    Jan. 23, 2017 – Essendant Co. and Basic Components are the first tenants to take space a Liberty Logistics Center, II< a new, 73-acre industrial park in Phoenix being developed by Liberty Property Trust. Don MacWilliam, Payson MacWilliam and Rob Martensen of Colliers International, and Megan Creecy-Herman with Liberty represented the landlord in the transactions. Don MacWilliam and Payson MacWilliam also represented Basic Components.

  • Enterprise of Phoenix Leases 42,800 SF at Rockefeller Group’s Chandler Corporate Center IV

    Jan. 20, 2017 - Rockefeller Group announced today that Enterprise Leasing Company of Phoenix, an operating subsidiary of Enterprise Holdings Inc., has leased approximately 42,800 square feet of flexible office space at Chandler Corporate Center IV. Phil Breidenbach, SIOR of Colliers International’s Phoenix office represented Rockefeller Group in this transaction.

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