Commercial real estate’s leading annual awards, the Best of NAIOP, were presented virtually for the first time because of the COVID-19 pandemic. “NAIOP Arizona, like most organizations, has had to adapt during this unprecedented time. I commend Keith Earnest, Bryon Carney, Tom Jarvis and Katrina DeBaker for their fun and creative approach to making sure that we were able to recognize the amazing accomplishments of our industry,” said Jim Wentworth, Wentworth Property Company

Rob Martensen, SIOR, executive vice president at Colliers International in Arizona was recently elected as the 2020 West Regional Director for the SOCIETY OF INDUSTRIAL AND OFFICE REALTORS® (SIOR). He will assume the position at SIOR’s Fall World Conference in Portland, Ore. in October. Martensen has specialized in the metro Phoenix industrial market for 21 years, and his industrial expertise includes single- and multi-tenant building sales and leasing, land sales, build-to-s

Colliers International in Greater Phoenix is expanding its client services to include Environmental and Building Due Diligence Services. The new offerings will be available to property management, landlord and investor clients of the company as part of Colliers’ full-service approach to commercial real estate. “Environmental assessments are an integral part of commercial real estate transactions, especially in the case of investment sales and debt and equity placements,” sa

Siena on Baseline, an apartment community at 4520 E. Baseline Rd., has been sold to a Dallas investor for $49,000,000. “This property offered a very attractive ‘value-add’ opportunity for the buyer,” said Cindy Cooke, senior executive vice president of Colliers International in Greater Phoenix. “The community is located in one of the best employment and transportation accessible areas of the city which creates a strong tenant demand for renovated units.” Knightvest Acquisitio

The Roach Team at Colliers International in Greater Phoenix has closed two multifamily property sales totaling $3.1 million. These transactions represent a growing trend in out-of-state investors purchasing Phoenix apartment properties. Summer Cove, located at 1941 W. Morten Ave. was sold for $2,150,000. The property, which is 100 percent occupied, features 20 apartment units and was built in 1969. The community was purchased by Tenants in Common: Geiger Properties I LLC,

The latest Multifamily Market Report by Colliers International has found that Greater Phoenix continues its strong multifamily real estate performance, with the first half of 2017 posting increasing rents, strong construction and strengthening investment activity. Some key findings include: A vacancy rate of 5.9 percent, which is identical to the rate a year ago. Approximately 1,200 new units delivered to the Phoenix/Encanto area in the last 12 months. Average rental rates of

Skanska Begins Work on Arizona Center Skanska is beginning construction on upgrades to the Arizona Center at 455 N. Third Street in Phoenix, according to a press release. This $11.6 million project will provide Arizona Center customers and tenants with an updated and upgraded shopping and dining experience. The project consists of exterior finishes upgrade of the open-air retail space that includes structural steel, metal panels, painting, stucco, pavers, concrete paving, lan

A partnership between Bruckal Developments and Ridgeline Properties has purchased the former Country Inn & Suites property at 20221 N. 29th Ave. for a price of $8.3 million. The buyer plans to convert the property into an assisted-living and memory-care community for seniors, according to a press release. “This is one of the most creative and complex real estate transactions I have brokered in my career,” said Tim Dulany, vice president of Colliers International in Greater P