PHOENIX, ARIZONA (December 10, 2019) – The 13th Annual IREM-CCIM Economic Forecast, the premier real estate outlook each year, features one of the Valley’s top economic gurus, one of the Valley’s top education leaders and panels featuring the industry’s top experts.
The event is scheduled for Friday, Jan. 17, 2020, at the Omni Scottsdale Montelucia, 4949 E. Lincoln Drive, Paradise Valley. Registration and breakfast begin at 7 a.m. The program runs from 7:45 a.m. to 12:30 p.m. Registration is $99 for IREM and CCIM members; $109 for non-members.
The recipient of this year’s Impact Award is Brian Mueller, President of Grand Canyon University. Presenting the award will be long-time Valley businessman Jerry Colangelo of JDM Partners.
Guest speakers are George D. Griffin III, CPM, CCIM, 2020 IREM Secretary/Treasurer Houston Housing Authority, AMO; and Eddie D. Blanton, CCIM, 2019 President-Elect and CCIM Institute President starting on Jan. 1, 2020. Blanton is principal and senior adviser with Tradd Commercial’s Charlotte, N.C., office. Pete Bolton of Pete Bolton Co. will serve as master of ceremonies.
This year’s keynote speaker is Elliott D. Pollack, CEO of Elliott D. Pollack and Company, an economic and real estate consulting firm in Scottsdale.
Pollack has degrees from Boston University and the University of Southern California. He has been a practicing economist for 46 years. For the past 31 years he has been president of the economic and real estate consulting firm that bears his name.
Through the years he has held many professional roles including student, teacher, author, peer reviewer, consultant, expert for media and court purposes and board member. He has taught economics and has written more than a thousand articles over the years. Pollack’s job has been to help clarify how current and future economic conditions fit into the decision process, as well as to explain how past decisions relate to the present situation.
This year’s industry panels:
>> The office panel features moderator Andrew Cheney, CCIM, Lee & Associates; Stan Shafer, Holualoa Companies; John Orsak, Lincoln Property Company; James Murphy, Willmeng; and Kate Morris, Transwestern.
>> The multifamily panel features moderator Lesley Brice, MC Companies; John Rials, Western Wealth Capital; Mark Forrester, Berkadia RE Advisors; and John Carlson, Mark-Taylor.
>> The retail panel features moderator Carol Schillne, CBRE; Ari Spiro, Orion Investment Real Estate; Josh Simon, SimonCRE; and Kalen Rickard, Western Retail Advisors.
>> The industrial panel features moderator Megan Creecy-Herman, Prologis; Rusty Kennedy, CBRE; Steve Larsen, JLL; Will Strong, Cushman & Wakefield; and Jeff Foster, Prologis.
The event is co-sponsored by the CCIM Central Arizona chapter (Certified Commercial Investment Member), commercial real estate’s global standard for professional achievement; and the Greater Phoenix Chapter of IREM (Institute of Real Estate Management), which comprises more than 280 professional commercial and residential real estate managers.
IREM registration here. CCIM registration here.
IREM® is an international force of 20,000 individuals united to advance the profession of real estate management. Through training, professional development, and collaboration, IREM supports our members and others in the industry through every stage of their career.
We believe in our people, and we provide the tools they need to succeed. We open doors, we forge connections, and we help show the way forward. Backed by the power that comes with being an affiliate of the National Association of REALTORS®, we add value to our members, who in turn add value to their teams, their workplaces, and the properties in their commercial and residential portfolios.
Our memberships empower college students, young professionals, and industry veterans who are committed to career advancement. Earning our credentials, including the CPM®, ARM®, ACoM, and AMO®, demonstrates a commitment to, and passion for, good management. These credentials, along with our courses and array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage. Information at www.irem.org.
About CCIM Institute
CCIM Institute created the language of global real estate investment. Our courses and worldwide community deploy commercial real estate investment methodologies and tools that speed the pathway between opportunity, a go/no-go decision and success for an asset, taught by instructors who are themselves industry leaders.
Today, the organization, through its 50 chapters, continues to innovate best practices and elevate the commercial real estate professional through its core designation program to earn the CCIM pin— real estate’s most coveted credential — and its topical education courses offered through the Ward Center for Real Estate Studies.
In addition, membership in CCIM includes the industry’s best technology and operational platform, allowing entrepreneurial and mid-sized businesses to compete with the largest multinational providers. Today, almost 70 percent of designees hold the title of owner, partner, principal, or president, representing an exclusive worldwide referral network of 13,000 members in 30 countries. Ultimately, CCIM represents a larger vision of the commercial real estate provider, leveraging investment analysis, opinions of value, and underwriting to become a leader in sourcing capital, building a cash-flow vehicle, and ultimately creating value. Information at www.ccim.com. Central Arizona chapter email@example.com.
SCOTTSDALE, ARIZONA (Dec. 5, 2010) – Sigma Contracting, Inc. today broke ground at iconic Papago Plaza in Scottsdale for up to 88,000 SF in new retail and office buildings and a 120,000 SF parking garage.
Sigma’s portion of the project is valued at $11 million to $16 million and will consist of the complete demolition of the original Papago Plaza, 1408 N. Scottsdale Road, that was constructed in the mid-1960s and renovated in the early 1980s.
The new project is being broken into three main phases: retail buildings plus a possible three-story office on one of the retail buildings and parking structure (Pivot Development and Sigma), hotel (PEG Development) and multifamily (Alliance Residential).
The three retail buildings total 21,000 SF, a grocery store will be 22,000 SF, planned office building 45,000 SF and parking garage 120,000 SF. This portion of the project totals approximately five acres of site work. Anticipated completion date is fall 2020.
“Sigma is honored and very excited to be working on this project with Lee Mashburn and Pivot Development,” said Sigma President Dan Hinkson. “We have worked together on various projects for almost 20 years. We started on this project shortly after Lee purchased this property almost seven years ago and helped bring a variety of concepts to the table over time along with potential tenants.
“We worked through numerous budgets based on various concepts for this project and are excited he has ultimately elected to negotiate the final project with us. Now the real fun starts,” Hinkson said.
The new Papago Plaza will feature an adaptive re-use design of natural elements including brick, stone and wood with a mid-century modern aesthetic. The retail development will include art murals, neighborhood gathering areas for events, a common heavily-landscaped park area with full-service Wi-Fi, fountains, benches and child-friendly water feature.
Papago Plaza was originally built in the 1960s by the Malouf family and subsequently renovated to the “pueblo” look in the early 1980s. Mashburn purchased the property from the Malouf’s six years ago and began the concept of redeveloping the property.
Original concepts looked at renovations then partial demolition with new construction followed with the current concept of a complete demolition and reconfiguring with multiple uses. The City of Scottsdale originally wanted to see high-density office buildings on the site, but there did not seem to be a market demand for this specific use on the entire site.
“Lee reached out to several potential partners and ultimately decided on Alliance for the multifamily and PEG for the hotel,” Hinkson said. “Pivot retained the retail component.”
There were numerous meetings with adjacent neighbors to gather feedback and hear their concerns relative to new construction and development. Based on the feedback and involvement, the current concept was created and is being permitted with the City of Scottsdale.
“Teamwork is vital with a project like Papago Plaza,” Mashburn said. “The whole thing is built around teamwork. We can’t do it alone. Our theory is to develop the best and most talented team including the architect, the engineer and the general contractor. We have done five or six projects with Sigma; we know what they can do.
“We are extremely proud of this project. We look at it as the gateway to South Scottsdale. With SkySong across the street, we want to create synergy at this intersection (Scottsdale and McDowell roads),” Mashburn said.
The architect of record is Nelsen Partners of Scottsdale. Notable subcontractors include Atwell Demolition (building and site demolition) and Coreslab (precast for the parking garage). Judi Butterworth, senior vice president of Orion Investment Real Estate, is handling the retail leasing for Papago Plaza.
ABOUT SIGMA CONTRACTING
Sigma Contracting, Inc. is an Arizona-based company founded in 1983 and licensed in eight Southwestern states. As a premier commercial general contractor, Sigma has established a broad footprint in the region with an extensive portfolio of projects in a variety of sizes, industries, and property types, with established long-standing client relationships with top developers, architects, municipalities, and businesses in the region. For 35 years Sigma has been the turnkey contractor for more than 900 construction projects including hospitals, medical office buildings, schools, public venues, retail and industrial spaces, banks, office buildings, and municipal facilities.
PHOENIX, ARIZONA (December 3, 2019) – The Greater Phoenix Chapter of the Institute of Real Estate Management (IREM), an international community of real estate managers dedicated to ethical business practices, has announced its leadership and council members for 2020.
Rosalinda Moehn, CPM, with NLR Management/Haan Development, will serve as president. The leadership team includes Tyrel Williams, CPM, MEB Commercial Management Group, president-elect; Brent Penrod, CPM, Eisenberg Company, treasurer/secretary; and Melissa Boyle, CPM, bkm Management Company, past president.
The 2020 council comprises Tom Coughlin, CPM, Everest Commercial Services; Libby Ekre, CPM, MEB Commercial Management Group; Debra Hill-Fox, CPM, ARM, ASKDEBFOX.com; Kristin Gibbons, CPM, Lillibridge Healthcare Services; Genna Goldberg, CPM, The Muller Company, AMO; Lauren Lacasse, CPM, Lincoln Property Company; Donna Olcavage, CPM, NaPali Management Inc.; Karlene Politi, CPM, OPTIM Property Solutions, Inc., AMO; Eduardo Ugaide, CPM, ARM, MEB; Ed Valerio, CPM, Knight Management, AMO; and Kelsie Whipple, CPM, ACoM Lillibridge Healthcare Services.
“2020 should be an exciting yet challenging year for the real estate industry, which is just one reason why I am grateful and humbled to be the IREM Greater Phoenix Chapter President,” Moehn said. “With all of the unknowns looming ahead, I know that I am surrounded by an incredible executive team who are the best in the business.
“The IREM board is made up of industry professionals who manage to make a difference. Not only do they understand how to add value to their properties and manage like rock stars, but they also understand the importance of forward-thinking to advance our industry. Having the support and help from the finest people in the industry will only help us reach our goals in 2020,” Moehn said.
IREM is an international force of nearly 20,000 individuals united to advance the profession of real estate management. Through training, professional development, and collaboration, IREM supports its members and others in the industry through every stage of their career.
IREM memberships empower college students, young professionals and industry veterans who are committed to career advancement. IREM credentials CPM, ARM, ACoM, and AMO demonstrate a commitment to good management. These credentials, along with its courses and an array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage.
For more information about the IREM Greater Phoenix Chapter, visit iremphx.org/.
PHOENIX, ARIZ. (December 2, 2019) – Through a collaboration between Cawley Architects, the City of Surprise and the school, Ottawa University unveiled its $21 million, 96,321 SF athletic facility.
Cawley Architects is the design firm behind the Ottawa University Athletic Facility for Indoor and Outdoor Athletics. The facility at 14470 W. Tierra Buena Lane, Surprise, comprises the 44,317 SF O’Dell Center, the 41,027 SF Faith Arena and lobby and a 10,977 SF recreational facility.
“We hold our project partners, the City of Surprise, Ottawa University and Haydon Building Corp. in the highest regard,” said Cawley Architects President Sherman Cawley. “This project is a confirmation that the design build approach to projects in the public arena can succeed at the highest level, bringing increased savings to our clients and superior value to their institutions.”
The project is a multi-use athletic facility designed to house Ottawa University’s 21 indoor and outdoor sports teams. It’s located on the governmental campus of Surprise City Hall. The complex is divided into three major uses.
The “O’Dell Center” (named after its donor) is three stories and faces a recently completed multipurpose sports field for football, soccer and lacrosse. The main floor has locker rooms for those sports and others including baseball, softball, track, golf, beach volleyball, tennis, basketball and volleyball.
All programs share a training room and a weight room. The second floor has needed classrooms with student and faculty areas. The athletics offices are located on the third floor along with press box and hospitality areas overlooking the football field.
The Faith Arena has a 30,000 SF gym with four basketball courts designed for four full-size volleyball courts. The main court area with telescopic bleacher seating provides a setting for competitive games and events. The lobby with concessions, ticketing and restrooms provide a link to the O’Dell Center.
The recreational center was constructed in partnership with the city and is
available to Surprise residents and university members. There is an area for
cardiovascular and weight-training equipment, a walking track, three multi-use rooms for
dance and yoga with locker rooms.
The City of Surprise partnered with Ottawa University and contributed to the development and construction portion of the recreational center. The project also is one of the first steps in expanding the campus. Plans call for more student housing as well as a new student union center.
“The Surprise City Council had a vision 8 years ago to partner on a residential university development inside the 200-acre city, civic and recreation campus,” said Mike Hoover, City of Surprise Economic Development Manager. “The O’Dell Center accomplishes the goal of delivering first-rate indoor programming for city recreation along with new vibrancy of university life on the shared city and university campus.”
Ottawa University opened its Arizona campus in August of 2017 with 434 new pioneer students, nearly twice the original projections.
“The Cawley team, led by Paul Devers, our lead architect, has done a beautiful job. We are thrilled with the outcome, and most importantly, so are our students, faculty and coaches,” said University Chancellor Kevin C. Eichner. “We are now engaging them to assist us with a longer-term campus master plan as we anticipate even greater growth in the months and years ahead.”
Other team members on the project include Haydon Building Corp., general contractor; Dibble Engineering, civil; Pearson Engineering, electrical; MDI Engineering, mechanical and plumbing; CTS Engineering, structural; and TJ McQueen, landscape architect.
“It took an extraordinary team to complete this very complicated project in only 18 months,” said Paul Devers, Vice President/Principal with Cawley Architects. “The design and construction team worked hand and hand with the Ottawa team to deliver a building complex of which everyone can be proud.”
In addition to its new Surprise residential campus, Ottawa University serves more than 4,000 students through its original, 153-year-old campus in Ottawa, Kansas, and at its adult education sites in Overland Park, Kansas; Milwaukee, Wisconsin; in central Phoenix just off I-17 between Peoria and Dunlap avenues; as well as through its robust online offerings. The university has been serving adult learners in the Phoenix area for 40 years and boasts more than 8,000 alumni in the Valley.
About Cawley Architects
With more than 800 high-value projects in our portfolio, Cawley Architects is one of the most prolific architectural firms in Arizona. For more than 25 years, we have been applying our uniquely collaborative approach to project management in order to create buildings of superior form, function and value. During that time, it has been our privilege to participate in some of the top commercial projects throughout the Valley along with an exceptional group of clients, contractors, and design professionals. We are knowledgeable in the specialized architectural requirements, technologies and trends of many building types. This includes: Education, Industrial, Healthcare, Bioscience, Restaurant, Entertainment, Office, Commercial, Automotive, Manufacturing, Distribution, Aerospace, Retail and Tenant Improvement. From small neighborhood bistros to large biotech laboratories, we have the expertise, resources, and connections to serve your needs and execute your plan — and provide you with unsurpassed value. For more information visit cawleyarchitects.com.
Full-time Community Director, Community Coordinators onsite 24/7 provide monitoring, social activities through new independent living concept for adults with disabilities.
PHOENIX (Dec. 2, 2019) – Luna Azul, a new gated single-family home community, offering a new approach to independent living for adults with disabilities, recently celebrated its grand opening and the move-in of the community’s first residents.
The 4.5-acre development located at 1500 E. Wahalla Lane in North Phoenix also launched its Community Association, which provides heightened attention through 24/7 on-site monitoring by a team of Community Coordinators who also organize a full calendar of social activities for residents and their guests.
The 30-home “pocket neighborhood” was designed to address and accommodate the needs of adults with intellectual, developmental and acquired disabilities, allowing them to live independently (or with a family member or caregiver).
Luna Azul’s approach, as the first in the nation to implement this model, offers the option of independent living for adults with disabilities through home ownership and a Community Association with a full-time team of on-site Community Coordinators. Coordinators help ensure the overall safety and well-being of residents; monitor the community; assist with home maintenance issues; and plan social and recreational activities for regular engagement among residents.
“We created Luna Azul because we wanted something different for our daughter, who has a rare disability,” said Mark Roth, founder and developer of Luna Azul. “Our goal was to build a place for her to live safely and permanently and have a socially fulfilling life with lasting friendships. With residents now living there, we’re seeing the Luna Azul concept work, even to the point where some residents are flourishing beyond their parents’ expectations and their need for in-home care is less than was originally planned, confirming all my expectations of how impactful friendship and inclusiveness is on our lives.”
Luna Azul’s Community Coordinators are care professionals with extensive experience working with individuals with disabilities. Rex Matthews, Luna Azul’s Community Director, has more than 28 years of experience working with individuals and service organizations in Arizona’s developmental disability community, including serving as the director over day and work programs.
Jon Krueger, Luna Azul’s Assistant Community Director, has more than 18 years of experience working with individuals with disabilities, including serving as service coordinator for six-day and work programs across the Valley. Together, Rex and Jon manage the team of six Community Coordinators who serve the residents as employees of the HOA.
“Rex is the ideal person to lead the team of Community Coordinators at Luna Azul,” Roth said. “I am regularly amazed by his extensive knowledge of the state’s laws, funding reimbursements and local vendors’ services for adults with disabilities. He’s helped me and my wife navigate the system, and now that he’s onboard as Director, we have the peace of mind knowing my daughter will have Rex looking out for her when she’s ready to live at Luna Azul.”
The 1,100- to 2,000-square-foot, two- and three-bedroom homes at Luna Azul range from the low $400s to the high $500s and have incorporated a wide range of features that can be customized to address and accommodate the varying needs of individuals with intellectual, developmental and acquired disabilities.
These features include highly durable flooring and finishes chosen for longevity and ease of care; low-maintenance bath and kitchen counters without grout lines for ease of cleaning; wide doorways and hallways for accessibility; large private front porches surrounding lush courtyards that encourage social engagement among the residents; in-home spaces that help minimize sensory overload and mitigate social challenges as well as CAT6 pre-wiring to provide an extensive range of Smart Technology safety, energy and control options.
Luna Azul’s first phase of 14 cottage-style homes are available and on-track to sell-out by year-end. Construction of the second phase of 16 new homes is expected to begin in early 2020, with completion of the full development slated for fall 2020.
About Luna Azul:
Luna Azul is a for-sale single-family home gated community in North Phoenix created for adults with disabilities to live independently, with family members or caregivers. The community’s “pocket neighborhood” design features 30 two- and three-bedroom cottage-style homes with large front porches facing shared green space and landscaped courtyards alongside a large clubhouse and pool, encouraging neighborly interaction and social engagement for people seeking a greater sense of community and a more caring, supportive, safer and connected place to live. Community Coordinators, employed and managed by the HOA, are on-site 24/7 to monitor the community and plan a variety of social and recreational activities. The Coordinators are also responsible for common area maintenance and services to meet shared needs of residents. Luna Azul, which is located just south of the 101 and 16th Street at: 1500 E. Wahalla Lane in Phoenix, is the nation’s first community of its kind, offering adults with disabilities and their families the financial benefit of home ownership. For more information, visit www.LunaPhx.com.
PHOENIX, ARIZONA (November, 25, 2019) – NAI Horizon partnered with of Nathan & Associates to sell the former 5,000 SF bank building and 4.3-acre site on which it sits in the Town of Wickenburg.
The site, located at 1980 Wickenburg Way, will house the new police headquarters and communication center for the growing town 65 miles northwest of Phoenix.
The accompanying land will be developed for other town services.
NAI Horizon represented Vulture Peak Properties Limited Inc. of Phoenix in the sale totaling $1 million. NAI Horizon Vice President Troy Giammarco and Associate Joe Pequeno and Sean Gillespie with Nathan & Associates brokered the sale on behalf of the seller.
“We are very excited to acquire this great property that will provide increased public safety to our growing community,” said Vince Lorefice, Wickenburg Town Manager. “Our experience with NAI and Nathan & Associates through the process was great.”
The Town of Wickenburg represented itself.
“Vince and the team at the Town of Wickenburg were thorough and conscientious, keeping the residents’ needs first and foremost in their decision to move forward creating a win-win for all parties involved,” Giammarco said.
PHOENIX, ARIZONA (November 21, 2019) – NAI Horizon represented Old Vine Limited Partnership of Denver, Colorado, in the $3.5 million acquisition of Papago Plaza, a 19,810 SF retail property located at 2240 N. Scottsdale Road in Tempe, Arizona.
NAI Horizon Senior Vice President Lane Neville and Associate Logan Crum, along with Tom Swan of Amcal Southwest, represented the buyer. Iver Bowden of De Rito Partners represented the seller, DROF I-5, LLC of Scottsdale, Arizona.
“We are excited to own Papago Plaza. As a boutique retail property on prestigious Scottsdale Road, it fits nicely within our mixed-use portfolio of properties located throughout the Southwestern U.S.,” said Mark Cytrynbaum, Principal Partner with Old Vine Property Group.
Papago Plaza tenants include Anytime Fitness, Green Restaurant, PMT Ambulance, Distinctions Salon, Allstate Insurance and Pink Elephant Records.
“Papago Plaza has a prime location just south of ASU Skysong and a few miles north of Arizona State University. The property is conveniently located just minutes from both Loop 202 and 101 freeways,” Neville said.
PHOENIX, ARIZONA (November 18, 2019): NAI Horizon Senior Vice President Denise Nunez represented the seller in a $2 million sale of Camp Verde 24 Hour Storage, 603 Industrial Dr., in Camp Verde, Arizona.
Nunez represented the seller, 603 Industrial, LLC. The buyers were from out of state and acquiring their first self-storage investment property.
Anchor Mini Storage was built in 1985 as an addition to a real estate brokerage services company that operated out of the main building. The facility is positioned on a 2.38-acre site. There are 176 self-storage units plus one apartment in the main building.
The facility is located in the town of Camp Verde, which is bisected by I-17, extending 8 miles to the west and 10 miles to the east of the interstate. Three freeway exits provide local access: Exits 285, 287 and 289. UPS operates a distribution center out of this location with a ground lease.
“The seller purchased the property in 2017, added a website, made some physical improvements, operational changes and was able to capitalize on the significant improvement to net operating income,” Nunez said. “The seller 1031 exchanged into four other self-storage opportunities.”
The buyers were represented by Don Arsenault of Don Arsenault Realty.
PHOENIX, ARIZONA (November 14, 2019) – AZCREW, the leading organization for senior-level executive women in the Metro Phoenix commercial real estate field, presented a $10,000 scholarship to an Arizona State University Master of Real Estate Development (MRED) student.
The scholarship winner – Abby Perez – was announced at AZCREW’s annual Black & White Affair, held recently at the Transwestern office at the Esplanade in Phoenix. The event benefits AZCREW’s “MRED Dollars for Scholars” program.
Over the past 9 years, AZCREW has supported MRED students by awarding scholarships totaling nearly $50,000.
“We are proud to support Abby as she continues her path in commercial real estate,” said Jennifer Cranston of Gallagher and Kennedy, 2019 AZCREW President. “It’s exciting to provide her with both monetary assistance and the ongoing educational and networking opportunities that accompany her membership into the professional family we call AZCREW.”
Perez, a native of Phoenix, holds a BA in communication, with minors in business and real estate. A fulltime student, she previously served as a research intern at Cushman & Wakefield.
In nine months, the transdisciplinary W. P. Carey Master of Real Estate Development (MRED) program prepares students to lead real estate development projects that are environmentally respectful, socially responsible, and artfully designed. Small class sizes provide opportunities for peer interaction and a number of synthesis projects cover the entire spectrum of development, preparing graduates for roles throughout the industry.
The MRED program is a transdisciplinary partnership between four highly regarded schools within ASU:
- The W. P. Carey School of Business;
- The Sandra Day O’Connor College of Law;
- The Herberger Institute for Design and the Arts;
- The Del E. Webb School of Construction.
PHOENIX, ARIZONA (November,14, 2019) – NAI Horizon represented the tenant, an indoor action playground company, in a long-term lease at the Fort Union Shopping Center in Midvale, Utah.
NAI Horizon Vice President Mike Kumelski in Phoenix and Scott Brady from Mountain West Commercial Real Estate in Utah represented Aggregate Athletics LLC of South Jordan, Utah, in the lease of 44,927 SF for Kids That Rip (KTR).
KTR has Valley locations in Mesa, Chandler and Scottsdale. KTR offers families a new form of indoor entertainment through skateboards, scooters, Parkour, trampolines, slacklines, ninja zones, gymnastics and sports.
“The site is positioned in a great demographic for our use and will be a fantastic addition to services for kids and families in the community,” Kumelski said. “This is adjacent to a 5,597 SF Aqua-Tots transaction we previously negotiated. Both are planned to be open in first quarter of 2020.”
The landlord is Fort Union Shopping Center LLC of Los Angeles.