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CREReport | Phoenix for December 17, 2014

CREReport | Phoenix

Commercial Real Estate Report for December 17, 2014

Top Stories from Monday, Dec. 15

• Plans Submitted for Mark-Taylor Multifamily Development in North Scottsdale

• KBP Realty Advisors Acquires 6K SF Office Property in Phoenix for $695K

• Solugenix Leases Office Space at SkySong in Scottsdale

• Wikimapia: Online Editable Map

Archive of emailed report:

Plans Submitted for 1.8K SF Dutch Bros Coffee Location at Grayhawk Shopping Center in North Scottsdale

Proposed building design for Dutch Bros Coffee in North Scottsdale - rendering by Sake Reindersma Architecture Proposed Building Design (Sake Reindersma Architecture)

Plans for a retail project were filed on behalf of Dutch Bros Coffee with the City of Scottsdale.

The proposed project calls for a 1,838 square-foot plus covered drive-thru retail building to be built at Grayhawk Shopping Center, N/NEC Scottsdale Rd & Loop 101 (Pima Fwy) in North Scottsdale.

Scottsdale AZ

HFF Secures $19.75M Construction Financing for Envy Scottsdale

Holliday Fenoglio Fowler (HFF) announced that the company secured $19.75M in construction financing for Scottsdale Envy, an 89-unit condominium project located at S/SWC 75th St & Camelback Rd in Old Town Scottsdale.

Developer: Deco Communities. Caswill Equity Group appears to also be involved as the company lists the project on their website.

Series of Transactions at Fountainhead Corporate Park in Tempe

Through a series of transactions, new owners are now in possession of 476,172 square feet of office space at Fountainhead Corporate Park, S/SWC Priest Dr & Broadway Rd in Tempe.


• In a joint venture, Cypress Office Properties and Harbert Management Corp. purchased five buildings totaling 476,172 square feet of office space from Principal Financial Group Inc. for $71.5M.

• Cypress Office Properties and Harbert Management then sold 189,262 square feet of the newly acquired space to Allegis Group Inc. for $35M.

According to BREW, CBRE will continue to manage the properties while the leasing assignment “has yet to be awarded.”

Cave Creek Shoppers Mall LLP Acquires 8.7K SF Retail Center in Cave Creek for $1.9M

Cave Creek Shoppers Mall LLP purchased Shops at Dynamite & Tatum, a 8,726 square-foot retail center located at NEC Tatum Blvd & Dynamite Blvd in Cave Creek, from Bainbridge Island for $1.9M.

Cardon Commercial’s Nathan Cardon represented the buyer, Cave Creek Shoppers Mall LLP.

CBRE’s Steve Julius and Jesse Goldsmith represented the seller, Bainbridge Island.

JAC Properties III Acquires 4 Acre Industrial Property in Peoria for $2.1M

JAG Properties III LLC purchased a 4-acre property with 18,373 square-feet industrial space at NE/NEC Loop 101 (Aqua Fria Fwy) & Grand Ave (US-60) in Peoria from One Cat Development Co. LLC for $2.1M.

The buyer will occupy the property.

Lee & Associates’ Matt Hobaica brokered the transaction.

Lee & Associates

Young’s Market Leases 248.9K SF of Industrial Space in Phoenix

Young’s Market Company leased 248,900 square feet of industrial space at E/SEC Loop 202 (Red Mountain Fwy) & Washington St in South Phoenix from Barley Equities V, LLC.

Cassidy Turley’s Andy Markham, Mike Haenel and Will Strong represented the tenant, Young’s Market Company.

Jones Lang LaSalle’s Anthony Lyndon and Marc Hertzberg represented the landlord, Barley Equities V, LLC.

Marco Display Specialists Leases 67.7K SF of Industrial Space in Phoenix

Marco Display Specialists leased 67,697 square feet of industrial space at SEC 43rd Ave & Van Buren St in South Phoenix from 4141 W Van Buren LLC.

RE Business Online

Livewire Prepares to Open 14K SF Venue

Livewire is preparing to open their 14,000 square-foot entertainment venue located at E/NEC Scottsdale Rd & Indian School Rd in Old Town Scottsdale on December 20th.

CPI’s Andy Jaffe on CORFAC 2015 Executive Committee

CORFAC International announced its 2015 Executive Committee. Among the elite: Commercial Properties Inc’s Andy Jaffe (at-large position).

Yahoo Finance

How can I track down an apartment owner to pitch a offer?

In response to a request by Mazzpal seeking advice as to how to find out who owns a property, user DrevvJ shares a resource and method (s)he uses to extract the information. is recommended as the source of data while leveraging Google, 411 and Zaba to extract more details.

What’s Glendale Like?

A chance to listen in or participate on a forum discussion where poster GaryOberthJr is seeking advice on the best and safest places to live in West Valley.

Responders provide their perspectives of what regions/cities offer the best amenities and lifestyle choices. While the discussion is focused on residential options, it’s clear that access to retail and other commercial uses is important.

Scottsdale Set to Review Request to Replat Whisper Ridge to 85-Lot Subdivision

Already approved by the Development Review Board on Aug. 7, 2014, Scottsdale City Council is scheduled to review a request to replat Standard Pacific Homes’ Whisper Ridge development from 66-lot to an 85-lot subdivision.

Whisper Ridge is located at NE/NEC 136th St & Shea Blvd in North Scottsdale.

Scottsdale AZ