Location on Light Rail Line Attracts Investors A Canadian investor has purchased Urban 188 & 96, apartment communities located at 1601 and 1545 W. Camelback Rd. for a total price of $52,000,000.00. “Strategically located on the Valley Metro Rail, Urban 188 and Urban 96 are side by side properties that are operated as one,” says Chris Roach of Colliers in Arizona. “Thomas Pride and Urban Communities did an excellent job maintaining the property and offering community events which focused on tenant retention. The new ownership plans to continue making Urban 188 and 96 a desirable community b ..read more

In the final issue of Commercial Executive Magazine, Globe Corporation is featured on the cover with George Getz and Mike Olsen sharing their vision for the West Valley. Other features include Legends of Law, a timeline of Barry Gabel’s career, Arizona’s One-Two Punch featuring Larry Pobuda, GCU’s record-breaking deal and a collage of memories the CEM team put together. The post Issue 1, 2022 appeared first on CEM-AZ ..read more

After a record setting 2021 for investment sales and financing of multifamily and build-to-rent properties, Northmarq Phoenix’s Investment Sales team of Trevor Koskovich, Bill Hahn, Jesse Hudson and Ryan Boyle started 2022 strong with the $51 million sale of Cove on 44th (4030 N. 44th Avenue, Phoenix.)  The team represented the seller, Los Angeles-based Pro Residential. Cove on 44th is a 256-unit, 134,400-square-foot multifamily community comprised of 10 studio and 246 one-bedroom apartments that range in size from 452 to 598-square feet. Built in 1983, the two-story commun ..read more

A leading cyber-security firm is the latest cutting-edge company to locate at Park Central.  Avertium, a cyber-security solutions company serving more than 1,200 mid-market and enterprise-level organizations across 15 industries, has signed a new lease for a 17,000-square-foot regional office at Park Central. The company will occupy a spec suite that had previously been built out at the project. Avertium was recently recognized as the #1 cybersecurity firm in the Valley.  Jeff Schmidt, CEO with Avertium, said the new Park Central location will help the company expand its footprint in ..read more

Industry veteran will lead project management, growth initiatives of leading Phoenix general contractor Marking its growth in a thriving construction market, Phoenix-based Stevens-Leinweber Construction (SLC) – one of the Valley’s most active ground-up and tenant improvement contractors – has expanded its leadership team with the addition of industry veteran Nick Litwiller. Litwiller will oversee the management of key improvement initiatives and operations for SLC’s thriving project pipeline, which spans millions of square feet of office, industrial, retail and amenity space in metro Phoe ..read more

Seven-story, 227,113-sf building developed by Wexford Science & Technology Building will feature new Wexford Innovation Labs on 5th floor Cushman & Wakefield has been engaged by Wexford Science & Technology, LLC to provide leasing services for its recently constructed life science and biolab facility, 850 PBC (Phoenix Biomedical Campus), in downtown Phoenix, Arizona. Designed for LEED Gold certification, 850 PBC is a 227,113-square-foot, seven-story Class A building located at 850 N Fifth St and situated within the larger 30-acre Phoenix Biomedical Campus. Completed in late 2020, t ..read more

Secured 136 Lease Transactions Totaling 437,000 Square Feet Plaza Companies’ Brokerage Services Team enjoyed a record-setting 2021 in the medical office and commercial office leasing market with more than $71 million in leases and sales. The Brokerage Services Team tallied a total of 136 new and renewed leases totaling 437,000 total square feet, as the market continued to improve for commercial real estate and medical office.  The Brokerage Services Team is led by Margaret Lloyd, Senior Vice President-Brokerage Services; Bill Cook, Senior Vice President – Brokerage Services; Michael McWil ..read more

Haydon Building Corp, which recently celebrated its 30th anniversary and was recognized as ENR Southwest’s contractor of the year, is pleased to announce it has hired construction industry leader Justin Newman as executive director, building division. Newman will work directly with partners, clients, and market sector leaders to deliver vertical projects throughout Arizona and the southwest. Newman brings over 23 years of experience, expertise, and client relationships. Prior to his position at Haydon, Newman served in various executive leadership roles and managed a wide variety of projects a ..read more

Phoenix-based LGE Design Build, a full-service commercial general contractor with an in-house architecture firm, recently broke ground to begin construction of a 46,585 square-foot industrial facility located at the crossroads of 15th Avenue and Pinnacle Peak Road in Phoenix. “With the high demand for new industrial space in one of the fastest growing cities in the U.S., LGE Design Build is filling the need for high quality products completed in an accelerated time frame in the Phoenix Metro area,” said Grant Blunt, Vice President of Construction of LGE Design Build. The multi-buildi ..read more

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the hiring of a top investment sales team out of Tucson, Arizona. Clint Wadlund and Arthur “Art” Wadlund have joined the firm’s Tucson office. Clint and Art, senior vice president and senior managing director respectively, will be accompanied by their support team Lisa Ringo and Krista Ying. “Adding Clint and Art to our existing IPA team of Steve Gebing, Cliff David and Hamid Panahi further enhances our dominant multifamily investment sales force in Arizona,” said Ryan Sarbin ..read more