by Peter Madrid | Oct 1, 2018 | News & Updates
PHOENIX, ARIZ. (October 2, 2018) – Serving her last term, Goodyear Mayor Georgia Lord has helped her West Valley city attract new businesses, develop a sustainable downtown, and be named an All-America City.
Mayor Lord will share her story as AZCREW presents a “Woman Icon Speaker” Oct. 16 at the Phoenix Country Club. AZCREW is the leading organization for senior-level executive women in the Metro Phoenix real estate field.
Lord represents Goodyear on the Maricopa County Association of Governments (MAG) Regional Council, Transportation Policy Committee, and Economic Development Committee. She also serves on the WESTMARC board of directors and executive committee, the West-MEC board committee, and is an ex-officio member of the West Valley Arts Council board of directors.
In 2008, Mayor Lord was a member of the citizens’ team that brought home the All-America City Award to Goodyear. She is a member and past chair of the GPEC Ambassadors Steering Committee.
AZCREW’s October lunch begins with networking at 11:30 a.m. The program starts at noon. Member registration is $40; non-member pre-registration is $65. Lunch is included. Register here.
by Peter Madrid | Oct 1, 2018 | News & Updates
PHOENIX, ARIZ. (October 1, 2018) – A full-service vegan restaurant, a host of behavioral health providers and a pair of Pilates studios highlight recent transactions valued at $4.152 million closed by Bryant Commercial Real Estate (BCRE), a woman/minority-owned company.
Vinny Summo
BCRE’s Vinny Summo negotiated a long-term lease for vegan eatery Whyld Ass at 4810 N. 7th St., in Phoenix. The lease is for 1,200 SF. The restaurant is scheduled to open Nov. 1.
“It’s exciting to witness and be a part of the growing vegan business community in Metro Phoenix,” Summo said. He adds the vegan food industry has grown by $3.1 billion.
BCRE’s other deals:
- Adrienne Bryant negotiated leases for behavioral health clients at 2150 S. Country Club Dr., Mesa, office, 5 years, 3,708 SF, DEMO Community Services; 1301 E. McDowell Rd., Phoenix, office, 7 years, 7,378 SF, Focused Family Services; and 2812 N. Norwalk St., Mesa, office, 5 years, 3,600 SF, Pushing Through Communities.
- Bryant negotiated retail leases for Club Pilates at The District Queen Creek, 10, years, 1,410 SF; 10625 N. Tatum, Phoenix, 10 years, 1,964 SF; and 6819 N. 16th, Phoenix, 5 years, 1,967 SF.
- Bryant also negotiated a 3-year office lease for 1,971 SF for Cherry Creek Mortgage in Chandler; a 5-year lease for 1,307 SF for kick-boxing fitness gym 30 Minute Hit in Cave Creek; and a 5-year lease for 864 SF Visiting Angels in Glendale.
“We are thrilled to be a part of the vision our clients have and execute their plans for their businesses,” Bryant said. “Our behavioral health clients are creating a state-of-the-art atmosphere for their clients that will provide a healing environment and is a game changer for mental healthcare.
“As a tenant representative, we work hard to understand the clients’ business so we can effectively get them in the right place for growth and access to their client base. We take the time to be a part of the team for success,” Bryant said.
by Peter Madrid | Sep 26, 2018 | News & Updates
PHOENIX, ARIZONA (Sept. 26, 2018) – The sale of a Scottsdale office building and four long-term retail leases by the NAI Horizon team of Senior Vice Presidents Chris Gerow, Shelby Tworek, Gabe Ortega and Associate Patrick Anthon highlight recent transactions closed by NAI Horizon professionals.
Sale Transactions:
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon negotiated the sale of a 3,397 SF office property, representing the buyer, EPH 20, LLC, for $630,000. The property is located at 10733 N. Frank Lloyd Wright Blvd., Scottsdale, AZ. Jim McCabe with Realty Executives represented the seller, Woodland Merchant Services, LLC.
Sharon Reeves negotiated the sale of a 2,680 SF retail property, representing the seller, Circle K Stores, Inc., for $575,000. The property is located at 5102 W. Camelback Rd., Phoenix, AZ. West USA represented the buyer, JRSC 3, LLC.
Matt Harper negotiated the sale of a 2,408 SF office property, representing the seller, Costello Holdings, LLC, for $440,750. The property is located at 4100 S. Lindsay Rd., Gilbert, AZ. David Hooks with HomeSmart represented the buyer, Sibling Ventures, LLC.
Laurel Lewis, Barbara Lloyd and Lane Neville negotiated the sale of a 5,800 SF office property, representing the seller, Troon, LLC, for $407,558. The property is located at 10045 E. Dynamite Blvd., Building F, Scottsdale, AZ. Christopher Lewis with Arizona Brokerage Company represented the buyer, Button Court, LLC.
Lease Transactions:
Laurel Lewis represented the tenant, Westland Resources, Inc., in a 65-month office lease for 7,964 SF at 2020 N. Central Ave., Phoenix, AZ. Ruth Darby and Charles Miscio with Colliers International represented the landlord, Arizona Credit Union.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Queen Creek Fiesta, LLC, in a 120-month retail lease for 2,275 SF at 21545 S. Ellsworth Loop Rd., Queen Creek, AZ. Jonathan Hill with Morrow Hill represented the tenant, Hand & Stone Massage and Facial Spa.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Batteries Plus, in a 120-month retail lease for 1,694 SF at 25314 N. Lake Pleasant Parkway, Peoria, AZ. Torrey Briegel with Phoenix Commercial Advisors represented the landlord, Vestar LPTC, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, New Bell Tower, LLC, in an 84-month retail lease for 3,000 SF at 4925 W. Bell Road, Phoenix, AZ.
Laurel Lewis represented the tenant, PK Architects, Inc., in a 60-month office lease for 2,491 SF at 4515 S. McClintock Dr., Tempe, AZ.
Tyler Smith represented the tenant, Magnus Title Agency, LLC, in a 63-month office lease for 1,930 SF at 13843 W. Meeker Blvd., Sun City West, AZ. Marshal Reynolds with Rencor Development represented the landlord, CMB Partners.
Kevin Higgins, Barbara Lloyd and Lane Neville represented the landlord, Bogle Family Realty, LLLP, in a 36-month office lease for 2,731 SF at 7227 N. 16th St., Phoenix, AZ.
Kevin Higgins, Barbara Lloyd and Lane Neville represented the landlord, Bogle Family Realty, LLLP, in a 60-month office lease for 764 SF at 7227 N. 16th St., Phoenix, AZ.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, New Bell Tower, LLC, in a 48-month retail lease for 1,045 SF at 4961 W. Bell Rd., Phoenix, AZ.
Matt Harper represented the landlord, Arizona MSK, LLC, in a 60-month lease for 1,000 SF at 5270 N. 59th Ave., Glendale, AZ. Adam Lam with Phoenix West Commercial represented the tenant, AZ Karen-Asian Market, LLC.
Matt Harper represented the landlord, Grand Center Plaza, LLC, in a 37-month retail lease for 831 SF at 11001 N. 99th Ave., Peoria, AZ.
by Peter Madrid | Sep 26, 2018 | News & Updates
Phase 1 of The Landing at PMG brings 280,000 SF of industrial space to SE Valley
Scottsdale, Ariz. (September 26, 2018) — Marwest Enterprises, LLC (Marwest) is pleased to announce a joint venture for the four-phase planned development of The Landing at PMG, a new Class-A industrial project located on 20 acres adjacent to the Loop 202 and Phoenix-Mesa Gateway airport (PMG).
The project’s $30 million first phase consists of six buildings totaling 280,000 SF. It began construction earlier this month and is expected to complete at the end of 1Q 2019.
The Landing at PMG’s first six buildings will range from 5,000 SF to more than 100,000 SF of leasable space and will be delivered simultaneously to meet the market’s significant demand. The project was designed to provide tenants with a diverse range of options for leasing or purchasing and includes access to storage yards.
“We are very excited to bring this major project to Mesa, and the Southeast Valley. With the current lack of quality industrial product in the area, combined with the significant economic impact being brought to the area by PMG airport and the robust housing and employment market, we view this as a prime location for this type of development,” said David Martens, Principal with Marwest.
Marwest partnered on the project with a large institutional equity provider and Alliance Bank of Arizona provided construction financing.
“Our ability to secure institutional debt and equity for Marwest is a true testament to their experience and the solid investment fundamentals that exist within the Southeast Valley,” said Roman Nelson of CapMatrix, who served as strategic capital advisor on the transaction.
Other project partners include Ware Malcomb, architect; D.L. Withers, general contractor; and Hunter Engineering as the engineer. Leasing for The Landing at PMG will be handled by the Alex Wentis/Kevin Cosca team at CBRE.
“We are very proud to represent Marwest as the leasing team at The Landing at PMG in the Gateway Market and helping to fill this market’s gap in much-needed, quality industrial space. We look forward to a very successful endeavor,” Wentis said.
by Peter Madrid | Sep 24, 2018 | News & Updates
PHOENIX, ARIZ. (September 24, 2018) – Luke Air Force base contributes more than $650 million in direct and $2.17 billion in indirect economic impact each year to Arizona’s economy.
The Phoenix chapter of Lambda Alpha International (LAI) hosts a discussion of the F-35, an overview of long-term plans of Luke AFB, and the impact on the Valley on Oct. 4 at Arizona Country Club.
Presenting the overview will be Col. Matthew Renbarger, 56th Operations Group Commander.
The West Valley-based military installation is home to some of the nation’s top pilots, crew chiefs, and intelligence specialists. Luke AFB is also home to the F-35 training program.
The Oct. 4 event at Arizona Country Club, 5668 E Orange Blossom Lane in Phoenix, begins with registration and networking at 11:30 a.m. The program begins at noon. Registration fee is $45 for LAI Arizona members and $65 for non-members. Lunch is included. Click here to register.
by Peter Madrid | Sep 18, 2018 | News & Updates
PHOENIX, ARIZONA (September 18, 2018) – The $7 million sale of the largest multifamily-zoned land holding in Central Phoenix was negotiated recently by NAI Horizon on behalf of the seller.
The 7.01-acre tract assembly on the east side of N. 12th Street and north of Indian School Road was sold to Scottsdale-based Deco Communities and fetched $22.92 per square foot.
NAI Horizon Vice President Kim Kristoff represented Sidney M. Rosen as trustee on behalf of a lifetime grouping of partners and trust beneficiaries. The combined R-5/R-4 zoning allows up to 311 apartment units based upon the results of a previous site plan submittal.
“Over the past four years, the property has been marketed nationwide and internationally,” Kristoff said. “Most of the national firms resisted the idea of a project on North 12th Street and have paid as much as three times more for their land acquisitions only a few blocks away and had to build structured parking as well.
“They are facing the reality of achieving $2-plus base rents and a variety of related fees (covered parking, storage, utilities, and exercise club) that bring the cost of a one-bedroom unit to more than $1,500 per month. Apartment renters, whether seasoned professionals or entry level students, are seeking the very best rental rates for a well-designed and secure apartment in a given market location. They are willing to forego a variety of service amenities of arguable value if they can save perhaps hundreds of dollars each month and use the savings for other lifestyle choices,” Kristoff said.
The 24-lot assembly began with the first purchase by the partners 40 years ago in 1978. The property has had a typical Central Phoenix history as a collection of garden apartments and also as the home for more than 20 years of Solutions, Inc., an addiction rehab facility.
While the N. 12th Street community has begun to gentrify, it has been the home of law practices, architectural and engineering firms, small associations, insurance brokerages, and numerous other service providers. Retail in the area includes small restaurants, cafes, a coffee shop, sandwich shops, and a variety of local artists.
Considered an area of affordable housing and post-war apartment properties, the street is becoming the new value proposition for the emerging middle market developer and renovation investment opportunities. New nearby apartment projects developed by national firms include the Loft at Campbell and N. 16th Street, the Crescent and Alante at Highland and N. 16th Street, Alta Camelback at N. 7th Street and E. Camelback, Citi stretching between Highland and Camelback, and several others north and south along N. 7th and N. 16th streets.
“Kim Kristoff has absolutely been the best and most professional commercial real estate broker we have worked with in our many years of assemblage and our acquisitions of the 24 contiguous parcels,” Rosen said. “His extremely professional, persistent, in-depth, and sophisticated marketing efforts culminated with this sale to Deco Communities.”
One of the most attractive advantages of this site for Deco Communities is that it doesn’t need to build expensive parking structures. Deco can provide ample parking on grade for up to 311 units, Rosen said.
“This will dramatically lower the overall development cost of the project and allow for more affordable rents, additional landscaping, and easier entry level access for apartment renters,” Kristoff said. “It was not until we tried a pre-app site plan submittal and discovered a provable building volume, on-grade parking count, and site density that were we able to speak with confidence about the real project possibilities.”
by Peter Madrid | Sep 10, 2018 | News & Updates
PHOENIX, ARIZ. (September 10, 2018) – For years Baby Boomers and Millennials bemoaned the fact that Downtown Phoenix didn’t have a major grocery store, a much-sought after amenity that would draw development and residents to the city center.
In April, RED Development broke grown on the Block 23 mixed-used development, which features a Fry’s Food Store, 200,000 SF of office space, 330 apartment units, and additional retail space.
AZCREW, the leading organization for senior-level executive women in the Metro Phoenix real estate field, presents “Block 23: A Mixed-Use Development in Downtown Phoenix,” September 18 at Phoenix Country Club, 2901 N. 7th St., in Phoenix.
Speakers include Barry Shannahan and Jeff Moloznik of RED Development, which says the Fry’s will be one of the most technologically advanced grocery stores in Arizona. It will feature above- and below-ground parking and marks CityScape’s expansion to Second Street.
AZCREW’s September lunch begins with networking at 11:30 a.m. The program starts at noon. Member registration is $40; non-member pre-registration is $65. Registration closes Thursday. Lunch is included. Register here.
by Peter Madrid | Sep 6, 2018 | News & Updates
PHOENIX, ARIZONA (September 6, 2018) – NAI Horizon bolstered its retail properties division with the hiring of 22-year industry veteran Mike Kumelski.
Kumelski, who will be a vice president, has specialized in retail leasing, development, tenant representation, and sales. Since the start of his real estate career in 1997, he has completed more than 1,200 transactions, including the development of 2 million square feet of shopping centers.
During his career, Kumelski has worked for private and public brokerage firms and private and public development companies. At NAI Horizon, he will focus on his representation of regional and national tenants leveraging the NAI platform. He will also work as the landlord representative on listings for select clients.
“We are excited to add Mike to our NAI retail division,” said Terry Martin-Denning, Principal and CEO of NAI Horizon. “Mike’s work ethic, professionalism, and dedication to provide the best service possible to his clients aligns perfectly with our vision.”
Kumelski has facilitated numerous franchise and corporate roll-out expansions in the Arizona market as well as throughout the U.S. Some of his clients include Thai Express, Mucho Burrito, Domino’s Pizza, Extreme Pita, Ginger Sushi, and CoreLife Eatery.
Kumelski is involved with the International Council of Shopping Centers (ICSC) and has held various leadership roles including Western Regional Chair and advisory board member for ICSC’s Next Generation program.
A native of Milwaukee, Wisconsin, Kumelski was raised in Tempe. He studied at Arizona State University. He has volunteered his time to Special Olympics and Gigi’s Playhouse.
by Peter Madrid | Sep 6, 2018 | News & Updates
GILBERT, ARIZONA (Sept. 6, 2018) – For almost 30 years, Hunter Contracting Co. and its business partners have given nearly $600,000 to community organizations through its charity golf tournament.
This year’s 28th annual event to benefit the Boys & Girls Clubs of the East Valley and the Children’s Organ Transplant Association (COTA) raised more than $20,000. The tournament drew 131 golfers to the Arizona Grand Resort.
“Philanthropy comes from the heart. We are honored to support these two incredible organizations,” said Hunter Contracting Co. Chairman of the Board Max Taddei. “The Boys & Girls Clubs make a difference in bringing out a child’s potential and helping them achieve their goals.”
COTA was the choice of his mother, the late Dr. Miriam Taddei, one of the founders of Hunter Contracting Co.
“She looked tirelessly for an organization that effectively helped families with urgent medical needs. She found that in COTA,” Taddei said.
Boys & Girls Clubs of the East Valley has been around since 1963. They provide valuable after-school programs to both girls and boys. More than 35,000 children and teens are served at 11 branches.
COTA was founded in 1986 after a group of volunteers in Indiana helped raise funds to place a child on the liver transplant waiting list. Since then it has helped thousands of children and young adults and has raised more than $100 million for transplant-related expenses. COTA does not charge a transplant family, or patient, for its services.
Ben Sornsin, a “COTA Kid” since 1992, is the son of Thomas Sornsin, who is a former employee of Hunter Contracting Co. When Ben required a life-saving liver transplant, his only chance for survival was an operation at UCLA Medical Center. COTA answered their prayer.
“We were so scared we were going to lose our little boy while at the same time being repeatedly asked how we were going to pay the bill,” Thomas Sornsin said. “We are extremely thankful our family has been part of the COTA family for 26 years.”
Keli Dobberstein serves as chairperson of the golf committee. Other golf committee members that helped exceed last year’s goal included Jason Robinson, Jackie Johnson, Gary Hornberger, Omar Cifuentes, Lynne Stocker, Amara Reis, S. Loretta Roberts, and Wendy Williams. The 2019 tournament will return to Arizona Grand Resort.
by Peter Madrid | Aug 27, 2018 | News & Updates
PHOENIX, ARIZONA (August 27, 2018) – The Milwaukee Brewers and Mortenson hosted a Topping Out ceremony this morning to commemorate the last beam put in place on the top of Maryvale Baseball Park, the spring training home of the Milwaukee Brewers.
The final beam was signed by representatives of the Brewers, City of Phoenix, Mortenson, and HKS. It was lifted into place on top of what will be the new home clubhouse of the Brewers.
The ceremony recognized the achievement and celebrated a safe project site with zero injuries to date. The practice of a Topping Out ceremony dates back to the ancient Scandinavian religious rite of placing a tree atop a new building to appease the tree-dwelling spirits displaced in construction. Often, the tree is placed with flags and streamers tied to it.
“Today, we mark a significant milestone in the renovation and construction progress at Maryvale Baseball Park,” said Brewers COO Rick Schlesinger. “On behalf of the Brewers, I would like to thank Mortenson, the City of Phoenix, HKS, IFG and everybody else who has thus far helped make this project a success. The progress is visually stunning and we look forward to the next milestone when we cut the ribbon to open this state-of-the-art facility.”
“Mortenson is proud to partner with the Brewers and the City of Phoenix, as well as all HKS and all of our trade partners on this project,” said Ben Goetter, vice president and general manager at Mortenson. “The Topping Out is always a rewarding time to acknowledge all of the hard work, as well as recognize the team’s commitment to safety on the project site. We look forward to seeing this ballpark continue to transform into an experience the entire community will enjoy come next spring.”
Highlights of the project:
>> 424 tons of fabricated steel have been used;
>> 12,793 yards of concrete have been poured;
>> 19,288 man-hours have been worked to date;
>> 652 team members have gone through safety orientation to make this project a success.
In November 2017, the Phoenix City Council voted in favor of a plan to renovate Maryvale Baseball Park, which has served as the spring training home of the Milwaukee Brewers since 1998. The plan keeps the club in Maryvale through at least 2042, the second-longest commitment in the Cactus League.
Construction began in late March and will be substantially completed by the start of the 2019 Cactus League season.
The Brewers are investing more than $60 million in the construction phase of the program, and have assumed operation and maintenance (as well as related costs) of the facility. The City of Phoenix will allocate $2 million each year for the next five years for renovations; the Arizona Sports and Tourism Authority will contribute approximately $5.7 million.
Maryvale Baseball Park opened in 1998. The facility is built on more than 60 acres of land donated by John F. Long Properties and is located off North 51st Avenue and Indian School Road in Phoenix.
Mortenson Vice President and General Manager Ben Goetter addresses the crowd at the Topping Out ceremony at Maryvale Baseball Park.
