NAI Horizon negotiates $2.847M long-term lease for Party City at Goodyear center

NAI Horizon negotiates $2.847M long-term lease for Party City at Goodyear center

   PHOENIX, ARIZONA (February 20, 2018) – NAI Horizon’s retail team negotiated a long-term lease on behalf of the landlord for a Party City location at The Market at Estrella Falls, 1981 N. Pebble Creek Parkway, in Goodyear, Arizona.

The NAI Horizon Retail Properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek, Gabe Ortega and Associate Patrick Anthon represented the landlord, The Market at Estrella Falls LLC of Glendale, Arizona, in the lease transaction totaling $2.847 million.

“This will be a relocation from across the street,” Tworek said. “It’s a great complement to our existing soft goods users within the shopping center.”

Party City will occupy 15,068 square feet at the Goodyear power center that totals 355,000 SF.  Some of the retailers include Old Navy, Cal Ranch, T.J. Maxx Home Goods, Dollar Tree, and Petco.

The tenant, Party City Corporation of Rockaway, New Jersey, was represented by Neil Board of Western Retail Advisors.

 

 

 

NAI Horizon negotiates $1.129M sale of Chandler industrial building

NAI Horizon negotiates $1.129M sale of Chandler industrial building

     PHOENIX, ARIZONA (February 13, 2018) – NAI Horizon Senior Vice President Rick Foss represented the buyer in the $1.129 million sale of a 10,161-square-foot industrial building at 503-505 E. Boston Circle in Chandler, Ariz.

NAI Horizon represented Pacific Desert, LLC of Phoenix in purchasing the industrial building that sits on almost one acre of land. The property will be utilized by a business that sells and installs raised computer flooring.

“They buyer acquired this specific property to better serve its existing clients and expand for future business growth,” Foss said.

The sellers, Eric J. and Susan D. Cassinat and Anthony and Cindy L. Cassinat of Gilbert, Ariz., were represented by David Bean and Leroy Brienholt of Commercial Properties Inc.

BOMA Greater Phoenix names young professionals’ leadership

BOMA Greater Phoenix names young professionals’ leadership

     PHOENIX, ARIZ. (February 6, 2018) — BOMA Greater Phoenix, the industry group that advances the commercial real estate industry through advocacy, influence, and knowledge, named Daniel Mazzon and Jessica Allen as chair and vice chair of its Young Professionals Group for 2018.

Daniel Mazzon

Mazzon, Sales Marketing Manager for Allied Universal Janitorial Services, has been a BOMA member since 2016 and will serve as YPG chair this year. Allen, a member of BOMA since 2014, is a property manager with Lincoln Property Company. She manages Luhrs City Center in Downtown Phoenix.

“Our goal in 2018 is to create original concepts that benefit both sides of the business,” Mazzon said. “We will achieve this through quarterly events that appeal to professionals of all levels in the commercial real estate community.”

The first BOMA and YPG community impact event of 2018 is this Saturday, Feb. 10, in conjunction with the nonprofit group Rekindle. “Second Chance Saturday” begins at 1:45 p.m. at 76 S. 12th Ave. in Downtown Phoenix.

“We’re encouraging attendees to bring cases of water, clothes, beverages, backpacks, and supplies to hand out to the homeless,” Allen said. “2018 will be a big year for community impact, building relationships, and business growth.”

Jessica Allen

YPG’s 2018 events include BOMA Battle of the Buildings; BOMA Bidding Wars; BOMA Battle of the Bands; Young Professionals Summer Splash; and Young Professionals are coming to town Toy Drive during the holiday season.

Rekindle invites the public to the homeless shelter the second Saturday of each month to volunteer. It’s an opportunity for other local groups and individuals to team up BOMA to host their own table at the homeless shelter.

“We bring our own tables and set up our own services,” Allen said. “One table will have backpacks/bags, the next one will have socks, the next one washcloths. We get donations of food as well as ice cold beverages, popsicles, a massage booth, and haircut station. The idea is to get people clothed, looking good and feeling good and bring kindness to the world.”

IREM unveils new look, fresh focus as it rebrands for its 85th year as a real estate leader

IREM unveils new look, fresh focus as it rebrands for its 85th year as a real estate leader

      PHOENIX, ARIZONA (February 5, 2018) – The Institute of Real Estate Management (IREM) celebrated its 85th year as a leader in the real estate industry with an evolved brand position and a fresh new look to reflect its future initiatives.

IREM is an international organization of 20,000 individuals whose goal is to advance the profession of real estate management through training, professional development, and collaboration.

The Greater Phoenix Chapter of IREM comprises more than 280 professional commercial and residential real estate managers. The chapter supports its members through mentoring, career support (IREM education courses are nationally and internationally recognized and offer designations and certifications for all levels of property management), scholarships, and networking events and speakers.

IREM offers monthly events at which members can meet and network. The local chapter also brings in speakers who share their expertise and insight on various topics.

“We are very excited to implement our new brand initiative and positioning,” said Genna Goldberg, CPM, Senior Property Manager with The Muller Company in Phoenix. “We think it communicates IREM’s unique value and boosts our members’ ability to compete in a changing marketplace.

“The goal is to be globally recognized as a go-to resource for both residential and commercial real estate management, and for those who hold IREM credentials to be sought out for their expertise and professional ethics,” Goldberg said.

The goal of IREM’s rebranding was to honor its long history and also demonstrate that IREM is a champion of the real estate management industry, supporting professionals through all stages of their careers – from college students to young professionals to industry veterans.

“The goal of this rebrand was really two-fold,” said J. Benjamin McGrew, CPM, CCIM, 2018 IREM President of FiduciaryWest in Reno, Nevada. “One, we wanted to differentiate and reposition IREM’s image in the marketplace. We feel we have a unique value proposition that separates us from others in the industry – helping property and asset managers grow and advance throughout their entire careers through training, development, and collaboration.

“Second, we really wanted to optimize the IREM brand to appeal to young professionals. We know that our profession is aging, and we want to attract young professionals and millennials, and show that real estate management is a worthwhile and rewarding career choice. We want to inspire pride in our field.”

To learn more about IREM, visit IREM.org.

 

LAI Arizona presents ‘Finding the Remedy to Retail’ panel Feb. 21 at Arizona Country Club

LAI Arizona presents ‘Finding the Remedy to Retail’ panel Feb. 21 at Arizona Country Club

       PHOENIX, ARIZ. (January 30, 2018) – Brick and mortar. E-commerce. Downsizing. Adaptations in the marketplace. Changes to the liquidation process.

With the retail environment in today’s real estate market constantly changing, all are topics relevant – both locally and nationally. These issues will be discussed as the Phoenix chapter of Lambda Alpha International (LAI) hosts Finding the Remedy to Retail on Feb. 21 at Arizona Country Club.

Moderating the panel will be Hillary Barnes of Alan Barnes & Jones, LLC. The panelists are Joshua Simon, SimonCRE; Drew Reich, ClearVision Business Advisors; and Craig Ganz, Ballard Spahr.

“This panel discussion will be fascinating, learning where the experts see the tumultuous retail market heading,” said Chaz Smith of Colliers International, president of LAI Arizona. “So much is happening in the retail market, both locally and nationally.”

The Feb. 21 event at Arizona Country Club, 5668 E Orange Blossom Lane in Phoenix, begins with registration and networking at 5:30 p.m. The panel discussion begins at 6 p.m. Registration fee is $45 for LAI Arizona members and $55 for non-members. Click here to register.

Commercial real estate industry expert Jennifer Prior launches her own firm

Commercial real estate industry expert Jennifer Prior launches her own firm

     PHOENIX, Ariz. (January 29, 2018) – With more than 20 years of commercial real estate industry expertise in property management, leasing, and project management, Jennifer Prior has launched her own company, PRE Consulting.

Prior, who will be the company’s Principal, spent two years at Cushman & Wakefield as an Associate Vice President. She oversaw the office property management team of six senior managers with more than 5 million square feet under management.

“I possess a great amount of experience with office, industrial, and retail products,” Prior said. “I have extensive knowledge of property management, leasing, and project management and my team has background in commercial real estate underwriting and closings.”

PRE Consulting will provide short-term solutions for commercial real estate firms. It will provide full-service property management for most product types; property management project work such as CAM reconciliations; budgets; and on-boarding/off-boarding property management assignments. PRE will also offer leasing services; project management services such as tenant improvements and capital improvements; and commercial loan underwriting and closing services.

Prior is currently working toward the designation of Certified Commercial Investment Member (CCIM).

A native of Tulsa, Okla., Prior was raised in Knoxville, Tenn. She earned a Bachelor of Arts degree in real estate finance and a Bachelor of Science degree in construction management at Washington State University in Pullman, Wash.

PRE Consulting can be reached at preconsulting@outlook.com  or (480) 223-8068.

 

NAI Horizon brings electric supply company to Valley in $2.93M deal

NAI Horizon brings electric supply company to Valley in $2.93M deal

     PHOENIX, ARIZONA (January 24, 2018) –  Nick Lee of NAI Robert Lynn and Senior Vice President Isy Sonabend of NAI Horizon negotiated a long-term lease for an industrial building on behalf of the tenant, an electric supply company, at 121 S. 39th Ave., in Phoenix.

NAI Horizon represented Elliott Electric Supply of Nacogdoches, Texas, in the long-term lease worth $2.93 million. Elliott Electric will occupy 62,900 SF of the 180,000-SF building.

Elliott Electric is a regional firm in the electrical supplies distribution industry with more than 130 stores throughout the southern U.S.

“With increased construction in all sectors, Elliott Electric’s strategic entrance into our marketplace is timely and welcome at a time when construction materials are in high demand,” Sonabend said.

The building was constructed in 2007 and sits on nine acres. The leased space features 30-foot clear ceiling height, 23 dock-high loading doors, and three drive-in grade-level doors.

The landlord, Sieroty DBA Eastern Columbia Properties, was represented by Don MacWilliam of Colliers International.

Cooper Fratt named 2018 Chairman for NAIOP Arizona Developing Leaders

Cooper Fratt named 2018 Chairman for NAIOP Arizona Developing Leaders

 

               PHOENIX, ARIZ. (January 23, 2018) – Cooper Fratt of CBRE has been named 2018 Chairman for the NAIOP Arizona Developing Leaders. Fratt, a DL member since 2011, began his career at CBRE in 2008 as a researcher. He currently is an industrial property sales and leasing specialist.

                “I’ve been fortunate enough to work under two great Developing Leader Chairmen in Jenna Borcherding and Chris Marchildon,” Fratt said. “We have a great year planned in 2018. My goal is to build upon the success and foundation put in place by Jenna and Chris. Our next event is the NAIOP DL’s spring training baseball game on March 2, which is always a favorite. Throughout the year we will continue to expand our philanthropic events as well, and those details should be finalized very soon.”

Other DL events scheduled for 2018 include the award-winning Mentor Program, a bowling outing, the signature Rookies & Rockstars evening, networking happy hours, holiday party, and the educational speaker series.

In addition to naming a new chairman, the group selected its Steering Committee: Jenna Borcherding, JLL; Patrick Boyle, Cushman & Wakefield; Mike  Strittmatter, CBRE; Billy Cundiff, Hines; Cullen Mahoney, Trammell Crow Company; Kyle Seeger, JLL; Jack Czerwinski, Majestic Realty Co.; Josh Tracy, Ryan Companies US, Inc.; Chelsea Porter, The Renaissance Companies; Thomas Maynard, GPEC; Phil Haenel, Cushman & Wakefield; Megan Druding, Cushman & Wakefield; Ashley Hoffman, Layton Construction; Clare Lydon, Opus Group; Matthew Krause, Krause Interior Architecture; Jenny Turner, Savills Studley; Jenna Harrison, ViaWest Group; Chad Schleicher, SmithGroupJJR; Elisabeh Tometich, Corporate Interior Systems; Liz Collins, Cushman & Wakefield; and Tim Colquhoun, National Bank of Arizona.

 

Fidelity National Title Camelback Lakes office closes education facility bonds deal worth $192 million

Fidelity National Title Camelback Lakes office closes education facility bonds deal worth $192 million

PHOENIX, ARIZONA (January 22, 2018) – The Fidelity National Title Agency | Camelback Lakes team announced it closed on Pima County Industrial Development Authority Education Facility Revenue Series 2017 Bonds for American Leadership Academy, Inc., in the aggregate amount of $192.2 million.

The Fidelity National Title Camelback Lakes office team comprises Diane Carpenter, Kristina Gooding, and Leo Sanchez.

The proceeds of the Series 2017 Bonds were used to make a loan to American Leadership Academy for the purpose of paying the costs to finance or refinance the acquisition, construction, improvement, and equipping of land and charter school facilities of four sites in the Southeast Valley. The proceeds will also go to any required reserve funds; pay capitalized interest, if any, on the Series 2017 Bonds; and pay certain issuance expenses related to the Series 2017 Bonds.

Leo Sanchez

“We are grateful to Holmes Law and American Leadership Academy for entrusting our team to facilitate this successful closing,” Sanchez said. “We’re excited to be a part of a transaction that is involved in serving the K-12 students in our Arizona community.”

“We recognized that we had to work with a title company that was highly talented and experienced in bond transactions,” said Ashley Spear, attorney at Holmes Law. “We knew that Kristina Gooding and the team at Fidelity were the perfect choice. Since Holmes Law was founded in 2014, our firm has provided legal services for more than $311 million of bond financing projects for charter schools throughout the Southwest.”

Holmes Law is a small firm located in Chandler that focuses on charter school creation, expansion, and operation. It regularly represents charter schools in bond financings used for the construction, acquisition, and renovation of facilities.

 

 

Sigma Contracting continues to expand its footprint in Las Vegas with 3 new projects

Sigma Contracting continues to expand its footprint in Las Vegas with 3 new projects

      SCOTTSDALE, ARIZONA (January 17, 2018) – Sigma Contracting, Inc. continues to expand its Las Vegas, Nev., portfolio with the recent completion of three projects worth more than $5 million.

A demand for high quality general contracting services in the West is keeping Scottsdale-based Sigma Contracting busy in the much sought-after Southern Nevada market. Sigma completed the following Las Vegas projects:

  • Quick N Clean Car Wash, $1.265 million, 6100 S. Rainbow Blvd.; GC work for owner, Upper Image Services, Scottsdale; architect of record, Hemant Modi Architects, Phoenix.
  • CVS Pharmacy, $2.165 million, 8491 Farm Rd.; GC work for owner Armstrong Development Properties Inc., Butler, Pa.; architect of record, NORR, Sacramento, Calif.
  • EOS Fitness, $2.190 million, 8125 W. Sahara Av.; GC work for owner, Fitness Alliance, LLC, Phoenix; architect of record, Andrews Design Group, Tempe.

“Las Vegas has been a great market for us over the past 25 years,” said Melinda Hinkson, Secretary-Treasurer/Business Development at Sigma Contracting. “We have built good relationships with the subcontractor community there as well as here in Arizona. This keeps us competitive and helps us overcome the labor shortage we’re all experiencing.”

Sigma has been expanding its footprint by hiring additional field and office personnel, including Business Development Specialist Catherine Frendahl, an industry specialist for the past 25 years. These additions have allowed for increased outreach and expertise in multiple areas and industries.

 

CVS Pharmacy at 8491 Farm Rd., in Las Vegas.