by Peter Madrid | Dec 12, 2017 | News & Updates
PHOENIX, ARIZONA (December 12, 2017) – The Fidelity National Title | Camelback Lakes team closed the sale of the Best Western Plus Arroyo Roble Hotel & Creekside Villas in Sedona, Arizona, for $25.5 million.
Located at 400 N. State Route 89A in Uptown Sedona, the high-end, boutique resort sold to Glacier House Hotels. The Fidelity National Title team comprised Diane Carpenter, Leo Sanchez, and Linda Bruce. The team provided escrow and title services for this sophisticated transaction.
“We are fortunate to have the opportunity to work with all parties involved and see the transaction successfully close,” Carpenter said. The CBRE Hotels advisory group team of Jennifer Bergamo, Larry Kaplan, and Mark Darrington represented the seller, Arroyo Roble Hotel & Creekside Villas I LLC.
“We knew we had to work with a title company that was highly talented and experienced,” said Jordan Scott, principal for Glacier House Hotels. “We are excited to add this trophy asset, located in the highly sought-after uptown section of Sedona with unprecedented views of the Red Rocks to our growing portfolio.”
Glacier House Hotels is headquartered in Scottsdale, Arizona, with a core focus of acquiring, renovating, and developing hospitality projects. The Glacier team has experience with top-tier hospitality brands such as Hilton, Marriott, IHG, and Starwood.
For more information visit glacierhousehotels.com.
by Peter Madrid | Dec 11, 2017 | News & Updates
PHOENIX, ARIZONA (December 11, 2017) – Don Morrow’s résumé includes regional manager and managing principal of two commercial real estate firms and partner in a Phoenix-based development and investment firm.
In total, Morrow possesses more than 30 years of experience in the commercial real estate brokerage industry.
NAI Horizon has tapped Morrow’s expertise, naming him a Senior Vice President to bolster its investment sales division. Morrow will concentrate on office, industrial, and net leased investment sales.
Morrow has served as regional manager for the Phoenix office of Marcus & Millichap. While at Marcus & Millichap he helped grow the gross income for the office by 67 percent and the number of agents by 60 percent in 3½ years. Prior to that, he was managing principal/partner for the Phoenix office of Grubb & Ellis Company. During that time he was very involved in helping the agents craft solutions to challenging transactional issues.
As a partner with Biltmore Holdings, a real estate development and investment company in Phoenix, Morrow was involved in the acquisition of more than $100 million (totaling more than 1 million square feet) of institutional-quality office and industrial investment properties in Metro Phoenix. His ownership experience and familiarity with structured finance will provide valuable insights into the perspective of his clients in the future.
As an investment salesperson with Grubb & Ellis, Morrow frequently ranked at the top in the local office and among the top agents nationally. He also served as the chairperson of the National Investment Council Top Agents who met periodically to share best practices.
“We are fortunate to add Don to our NAI team,” said Terry Martin-Denning, Principal and CEO of NAI Horizon. “His experience and expertise align well with our vision to add agents who fit well with our culture. Don’s background will allow him to leverage our platform to the benefit of his clients. His willingness to mentor and share his experience with our junior agents is an added value.”
A native of Kalamazoo, Michigan, Morrow began his career as a broker with Grubb & Ellis in Phoenix. He is a graduate of Arizona State University, where he received a Bachelor of Science degree in business administration.
“I am excited to be joining NAI Horizon and believe the international platform it offers is essential in today’s real estate environment, especially with the significant inflow of California businesses and capital,” Morrow said. “At the same time, brokers having ownership in the local office offers the flexibility to adapt to the nuances of the local market and the ability to provide the agents support and tools to deliver the highest level of service to our clients.”
by Peter Madrid | Dec 4, 2017 | News & Updates
PHOENIX, ARIZ. (December 5, 2017) – Markham Contracting Co., Inc., founded in the Phoenix garage of President Mike Markham Sr., in 1977, is celebrating 40 years of helping shape the Southwest landscape.
Projects include the original Hughes Helicopter manufacturing plant, now Mesa Boeing; Phoenix International Raceway; the Omni Montelucia Resort; the Chicago Cubs’ spring training facility; the Wickenburg bypass; Grand Avenue; and Victory at Verrado, to name a few.
Markham Contracting’s Goodyear Crossing project included a warehouse pad for the Amazon Fulfillment Center.
The management team includes Mike Markham Jr., COO; daughters Heather Markham Lacourciere, Vice President, and Jennifer Gough, CFO; Hollis Loper; Keith Blakslee; and Rob Paxson.
As a family-owned grading, paving, wet utility, concrete and general engineering contracting firm, Markham Contracting has left an indelible mark on municipal, commercial, residential, industrial, and utility developments in Arizona.
To what does Markham’s president attribute success across four decades?
“You have to change with the times, but you can’t change the basic philosophy of what you’re doing,” Markham Sr. said. “You have to be flexible and not be changing with the wind. You have to be true to your core values.”
This philosophy is evident in Markham’s continuous investment in its GPS-integrated control systems, drones, and other high-tech solutions utilized throughout its operations.
The company’s first job was building a parking lot for Jorgensen Steel in Phoenix. Since that first parking lot, Markham has constructed more than 4,000 projects in Arizona.
To what does Mike Jr. attribute the company’s success?
Mike Markham Sr.
“I consider us to be more of a family than just a business,” he said. Markham has 250 employees; 22820 N. 19th Ave., in Phoenix, is its home office. “Many of the people who work for us today are people I knew as a kid. They’ve seen me grow and I’ve seen them grow. That family environment has been a big part of our success.”
Markham’s philanthropic endeavors include the Juvenile Diabetes Research Foundation (JDRF) and the Valley Partnership Community Project. It also supports many charities of its employees, vendors, and clients including Florence Crittenton of Arizona, American Heart Association, Junior Achievement of Arizona, Salvation Army, Make-A-Wish Foundation, Ronald McDonald House, St. Mary’s Food Bank, Southwest Autism Research & Resource Center (SARRC), UMOM, Susan G. Komen Breast Cancer Foundation, and Sunshine Acres Children Home.
“Growing up in Arizona, a big part of our company culture is giving back and making sure community service is a priority,” Heather Markham said. “It makes us who we are.”
With operations in Phoenix, Tucson, and Flagstaff, Markham looks to diversify and continue serving the growing needs of its clients.
To learn more visit markhamcontracting.com.
by Peter Madrid | Dec 4, 2017 | News & Updates
PHOENIX, ARIZONA (December 4, 2017) – After a major repositioning this past summer, Corporate Center has landed a charter school that will occupy 26,072 square feet of the 440,000 SF office complex along the reinvigorated I-17 corridor in North Phoenix.
NAI Horizon Senior Vice Presidents Troy Giammarco and Tyler Smith negotiated a long-term lease worth $3.125 million, bringing Sage Academy to Corporate Center, 10220 N. 25th Ave. NAI Horizon represented the landlord, Bay Pacific Corporate Center, LLC of San Francisco.
The eight-building portfolio offers the live-work-play requirements of today’s tenants.
“We were thrilled about ownership’s hands-on involvement and care during the genesis of this transaction,” Giammarco said. “We were pleased that the former ITT installation in the 10220 building had sufficient improvements that made the conversion to Sage Academy’s new home a win for both ownership and the school.
“The central location of the asset was key in Sage’s choice as it addressed the needs of parents who will commute to drop off their children. This will be key in meeting the school’s growing population,” Giammarco said.
Sage Academy’s growth plans include day care services in addition to its K-8 education facility. This a unique amenity to parents who are employed at Corporate Center.
“These features and benefits are what companies are looking for to help them attract candidates from the area’s rich employment base,” Smith said.
The North Phoenix submarket is undergoing a renaissance. Metro Center Mall, across I-17 from Corporate Center, is being redeveloped by the Carlyle Group. The City of Phoenix is upgrading the popular, 80-acre Rose Mofford Park adjacent to Corporate Center.
“The proximity of Corporate Center to the park across the street has the unique draw we feel appeals to the needs of the growing millennial workforce who are looking for work-play amenities and environment,” Smith said.
The tenant, Sage Academy Inc. of Phoenix, was represented by Jason Malcolm and Rod Beach of Cresa Phoenix.
Corporate Center features sought-after big blocks of space with mountain views ranging from 15,000 SF to 75,000 SF. The property is ideal for national corporate back office clients. By 2026 Metro light rail will serve the area.
by Peter Madrid | Nov 30, 2017 | News & Updates
PHOENIX, ARIZONA (November 30, 2017) – NAI Horizon negotiated a long-term lease for Planet Fitness at 10105 E. Via Linda Rd., in Scottsdale, Arizona.
With this deal, NAI Horizon has recently negotiated long-term leases totaling more than $20 million for Planet Fitness locations across the Valley.
The NAI Horizon retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek, Gabe Ortega, and Associate Patrick Anthon represented the tenant, Planet Fitness, in the Scottsdale transaction totaling $2.058 million.
“It’s a great opportunity to take a vacant grocery store and retrofit the site for a national fitness user,” Tworek said. “The demographics of the trade area work very well for Planet Fitness and they are eager to open.”
The Scottsdale Planet Fitness location will take up 29,192 square feet at the Mercado at Scottsdale Ranch. The landlord is Whitestone Mercado, LLC of Scottsdale.
by Peter Madrid | Nov 28, 2017 | News & Updates
SCOTTSDALE, ARIZ. (November 28, 2017) – Sigma Contracting announced it has hired Business Development Specialist Catherine Frendahl.
Frendahl will be responsible for creating business opportunities and securing new business. Frendahl joins Sigma Contracting after spending the past two years at Kinney Construction Services.
Frendahl possesses more than 25 years of experience in sales and business development. She has also performed business development duties for a commercial solar company.
“We are pleased and excited to add Catherine to our team,” said Dan Hinkson, President of Sigma Contracting. “She is the right fit at the right time to continue our growth in the market. It’s a positive sign and could lead to a similar expansion of our estimating and operations footprint in the near future.”
Frendahl has held an Arizona Real Estate license for four years. She is actively involved with industry groups AAED, CRENAB, AZCREW, SAAR, ULI Arizona, Valley Partnership, and the Business Development Guild.
A native of Spokane, Wash., Frendahl has also lived in Oregon and Wisconsin.
by Peter Madrid | Nov 27, 2017 | News & Updates
PHOENIX, ARIZONA (November 27, 2017) – NAI Horizon Senior Vice President Denise Nunez represented the buyer in the sale of a parcel of land in Buckeye, Arizona, on which Sundance Parkway Self Storage will be built.
Nunez represented Terdenjo Storage, LLC of Gilbert, Arizona, in the purchase of 3.73 acres of land at the NEC of Yuma and Sundance Parkway in Buckeye. Terdenjo plans to build a 104,209-square-foot self-storage facility that will comprise 703 units featuring both climate-controlled and drive-up units.
“Contrary to some reports out in the market, these new developments are taking longer and longer to work through the associated entitlements as well as final approvals for self-storage use,” Nunez said. “Escrow on this site opened on October 21, 2016, and closed more than a year later.
“It was a pleasure working with a seasoned developer who was able to take a big- picture approach and minimize costs by addressing potential issues during the contracted period,” Nunez said.
Nunez specializes in self storage, offering localized expertise in Arizona and national representation working with NAI offices throughout the United States.
The seller, Sundance Parkway LLC of Phoenix, was represented by Chris Ackel of CBRE.
by Peter Madrid | Nov 20, 2017 | News & Updates
PHOENIX, ARIZ. (November 20, 2017) – Iconic Design Studio, a full-service, woman-owned interior design firm, has announced the addition of a new team member. Tarah Hamman joins IDS as a senior interior designer/project manager consultant, according to CEO/Principal Kelli Berry.
Hamman will be responsible for space planning; furniture and fixtures specification; and design document/construction document development.
“Tarah brings the experience of professional level construction document execution and exceptional design application,” Berry said. “I am thrilled she is joining our team.”
Hamman has worked as an interior designer in both residential and commercial interiors as well as in commercial architecture as a project manager. She has successfully completed more than 500 retail projects and more than 100 construction documents for permit, including restaurants, hotels, healthcare facilities, commercial office spaces, and multi-use facilities.
A native of Phoenix, Hamman attended the Art Institute of Phoenix. She holds a BS and Council for Interior Design Accreditation in interior design.
Hamman is actively involved with industry groups IIDA, USGBC, and SMPS Arizona. She is a LEED Green Associate.
by Peter Madrid | Nov 16, 2017 | News & Updates
Phoenix, Ariz. (Nov. 16, 2017) — BOMA Greater Phoenix, the industry group that advances the commercial real estate industry through advocacy, influence, and knowledge, elected its 2018 officers and board members via electronic vote of its membership.
Darwyn Harp, General Property Manager with Hines, was elected President. He is joined by Vice President Robert Vincent, Cordia Capital Management; Treasurer Jayme Bartholomew, Development Services of America; and Allied Chair Tim Barber, Maintenance Mart.
“I am honored and humbled to have been elected as BOMA Greater Phoenix’s next President,” Harp said. “BOMA has vibrant energy, and I want to capitalize on it. My goal is to reach out to prospective members and share our story of the great work BOMA has accomplished and will continue to do.
“With a focus on public policy advocacy, networking, and education, I renew my desire to make BOMA’s name synonymous with excellence in commercial real estate and be the go-to entity for building owners and managers,” Harp said.
Board members for 2018: Colleen Leblanc, ATI Restoration; Gina Rouban, Edge Building Services; Michael Chadwick, ViaWest Group; Julie Martens, CBRE; Melissa Scott, Sunbelt Holdings; Maricela Nunez, LBA Realty; Nate Williams, ProServ; Toni Covington, ABM; Chris Vetter, Transcend Security; and Bruce Coomer, Dircks Moving & Logistics.
BOMA Greater Phoenix wrapped up the year on Nov. 3 by hosting The Outstanding Building of the Year (TOBY) Awards. Each year the TOBYs recognize outstanding performance in buildings and reward excellence in building management.
by Peter Madrid | Nov 14, 2017 | News & Updates
TEMPE, ARIZ. (November 14, 2017) – The local office of Terracon was a partner of the team that won an ENR Southwest Best Projects Award of Merit for 2016-2017.
McCarthy Building Cos. won the Award of Merit in the Energy/Industrial category for the APS Red Rock Solar Facility. Terracon completed a geotechnical study, pile foundation design, and materials testing for the project.
The presentation was made at the annual Engineering News-Record Southwest awards lunch Nov. 8 at the Renaissance Phoenix Downtown hotel.
Terracon employees associated with the project were Jesse Huston, PE, who managed the geotechnical study, pile embedment, and soil mix design process; and Tracy Grover, who managed the materials testing and the production pile testing.
“Terracon has provided design support services and construction oversight on hundreds of solar projects around the United States,” said Grover, Regional Manager for Material Services at Terracon. “It’s always an honor when your project receives an award. We appreciate the opportunity to work with McCarthy and look forward to more award-winning projects in the future.”
The Red Rock facility is APS’ largest solar plant, totaling 400 acres in Pinal County near Casa Grande. The $90 million plant is capable of generating 40 megawatts of power. Arizona State University and PayPal have agreed to purchase renewable energy from APS in an amount equivalent to the energy generated by Red Rock, according to APS.
Terracon is an employee-owned consulting engineering firm with more than 4,000 employees providing environmental, facilities, geotechnical, and materials services from more than 140 offices with services available in all 50 states. Terracon has been providing quality engineering services in Arizona since 1992. Terracon currently ranks 30th on ENR’s list of the Top 500 Design Firms.
