by Peter Madrid | Oct 17, 2017 | News & Updates
Author of the ‘Linneman Letter’ to speak Nov. 15 at Arizona Country Club
PHOENIX, Ariz. (October 17, 2017) – For more than three decades, Dr. Peter Linneman has been a critical influence in driving the professionalization of real estate capital markets and the commercial real estate industry.
The Southwest Chapter of REIAC presents “When will the Good Times End?” – an afternoon with Dr. Peter Linneman. The event is scheduled for Nov. 15 at the Arizona Country Club, 5668 E. Orange Blossom Lane in Phoenix.
Registration begins at 3:30 p.m. Dr. Linneman’s presentation begins at 4 p.m. Gary Linhart of ViaWest Group will interview Dr. Linneman beginning at 5 p.m. The afternoon concludes with a networking reception at 5:30 p.m.
“REIAC prides itself on institutional quality programs where our members have the opportunity to share experiences and knowledge with some of the most established leaders in commercial real estate,” said Programs Committee Chair Todd Jarman of BBVA Compass. “This year’s keynote event featuring Dr. Peter Linneman is one that we are extremely excited about. It promises the opportunity for our guests to interact and learn from one of the most respected scholars in our industry.
“Dr. Linneman’s ability to assess and simplify the ever-changing macroeconomic, political, and capital market environments – particularly as they relate to commercial real estate – will make this the ‘must-attend’ program of the year,” Jarman said.
Dr. Linneman is the author of the “Linneman Letter,” a highly-regarded quarterly publication for commercial real estate investors first published in 2001. The founding chairman of the Wharton Real Estate Department, Dr. Linneman taught real estate and finance at the Wharton School of Business for more than three decades. The “Linneman Letter” is an extension of his lectures and teaching style.
This event is open to the public. Registration fee is $125. Register at www.reiacsouthwest.org/event-2572683.
by Peter Madrid | Oct 12, 2017 | News & Updates
PHOENIX, ARIZONA (Oct. 12, 2017) – NAI Horizon Senior Vice President Jeff Adams represented the buyer in the $1.77 million acquisition of a freestanding industrial building at 3324 E. Atlanta Ave., in Phoenix.
Adams represented Thronson Enterprises, LLC, of Tempe, Arizona, in its purchase of the 21,400-square-foot property that includes a canopy area and large, fully-fenced and paved lot.
“I worked hand-in-hand with this very responsive, patient buyer for nearly a year on numerous opportunities,” Adams said. “The available inventory of premium properties in Metro Phoenix that you can still buy at reasonable numbers is woefully low.
“We were able to locate an unlisted opportunity and negotiate a deal that was good for both the buyer and seller. TSI was one of the better clients I have worked with and they are enamored with the deal, which included lease-back income and an optimum user opportunity,” Adams said.
The buyer is a professional signage and operations management company for several industries, including professional golf tournaments.
The seller, 213 Leasing, LLC, of Phoenix, was represented by Lance Ross of Ross Property Advisors.
by Peter Madrid | Oct 11, 2017 | News & Updates
PHOENIX, ARIZ. (October 11, 2017) – CoreNet Global Arizona wraps up a three-part series exploring how a connected world is transforming its interaction with the workforce.
The Arizona chapter in August launched a series exploring the “Internet of Things,” and how it has changed how the corporate real estate community conducts business.
The final presentation, Cyber Security, is scheduled for Thursday, October 26, at Phoenix Country Club, 2901 N. 7th St.
Panelists include Brett Helgeson, Adopt Technologies; Jeff Lawrence, CyrusOne; and Patrick Hauert, Kudelski Security.
The program will focus on cyber security and issues involving hyper-connectivity and vulnerabilities in the workplace.
“Our cyber security panel is a culmination of our deep dive into how the ‘Internet of Things’ is impacting corporate real estate,” said CoreNet Global Arizona President Simon Davis of Serraview. “This session is applicable to all organizations and will provide a wealth of information that companies need to consider to ensure their data is safe and secure.”
The event begins at 11:30 a.m. Registration is $35 for CoreNet Global Arizona members and $70 for non-members. Register here.
by Peter Madrid | Oct 9, 2017 | News & Updates
PHOENIX, ARIZONA (October 9, 2017) – The growth of NAI Horizon’s presence in the Valley continues with the hiring of Jay Mininberg, who joins the Office Properties Group as an Associate.
Mininberg, a native of Washington, D.C., will be responsible for office leasing.
“We are excited about Jay’s decision to join our NAI Horizon team,” said Terry Martin-Denning, Principal and CEO of NAI Horizon. “He brings added value to the clients with whom he works because of his background as an attorney and business owner. These assets allow him to understand our clients’ real estate needs from a business perspective.”
Before moving to the Southwest, Mininberg worked as a broker for a boutique commercial real estate firm in Potomac, Maryland. The firm offered services in commercial sales, leasing, raw land, development, and financing. Mininberg was a principal investor on numerous transactions.
After moving to Arizona, Mininberg was CEO and founder of a textile rental service in Arizona and Nevada. His firm provided linens, dust control, and ancillary items to more than 1,700 businesses. He developed and executed all corporate activities, funding, legal, marketing, and sales.
Mininberg was raised in Potomac, Maryland. He earned his undergraduate degree from Boston University and a law degree from Nova Southeastern University in Ft. Lauderdale, Florida.
by Peter Madrid | Sep 27, 2017 | News & Updates
PHOENIX, ARIZONA (Sept. 27, 2017) – The sale of a Chandler retail property and the leasing of numerous Planet Fitness locations around the Valley highlight transactions closed recently by NAI Horizon professionals.
Sale Transactions:
Lane Neville and Barbara Lloyd negotiated the sale of an 81,148 SF retail property, representing the seller, Hamstra Square Investors, LLC, for $7.1 million. The property is located at 1020-1080 E. Pecos Rd., Chandler, AZ. Tim Ernst with Terra Marketing represented the buyer, Schneider Living Trust.
Laurel Lewis negotiated the sale of a 1,845 SF office property, representing the seller, The 1906, LLC, for $395,000. The property is located at 1747 E. Morten, Suite 111, Phoenix, AZ. Jim Sadler with Keyser represented the buyer, Solar System Holdings, LLC.
Lease Transactions:
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, JEF-Fit 32nd & Greenway, LLC, in a 180-month retail lease for 22,888 SF at 3202 E. Greenway Rd., Suite 1255, Phoenix, AZ. Kalen Rickard with SRG represented the landlord, AP Capital REIT US Limited Partnership.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, JEF-Fit Southern & Priest, LLC, in a 180-month retail lease for 22,664 SF at 1405 W. Southern Ave., Phoenix, AZ. Bob Rusing with Arizona Partners represented the landlord, Prithern, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, JEF-Fit 83rd & Lake Pleasant, LLC, in a 132- month retail lease for 22,899 SF at 20713 N. 83rd Ave., Phoenix, AZ. Andy Kroot with Kroot & Associates represented the landlord, AZ CDL Properties, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, PF Goodyear, LLC, in a 126-month retail lease for 17,976 SF at 515 S. Cotton Lane, Goodyear, AZ. Cliff Johnston with Cushman & Wakefield represented the landlord, TPP 211, Canyon Trails, LLC.
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. David Uhles with ATI Physical Therapy represented the tenant, ATI Holdings of Arizona, LLC.
Laurel Lewis represented the tenant, Wilson & Company, in a 66-month office lease for 4,538 SF at 410 N. 44th Street, Suite 460, Phoenix, AZ. Bill Zurek of Transwestern represented the landlord, ARE-LEI Phoenix Gateway Associates, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, CC Fund 1 Union Hills North, LLC, in a 84-month retail lease for 2,900 SF at 8280 W. Union Hills Dr., Glendale, AZ. Brad Douglass with Cushman & Wakefield represented the tenant, Picazzo’s Union Hills I, LLC.
Jeff Adams represented the tenant, Scottsdale Providence Recovery Center, Inc., in a long-term office lease for 5,094 SF at 8889 E. Via Linda, Scottsdale, AZ. Geoff Turbow, Zak Kottler, and Joe Cosgrove with Levrose Real Estate represented the landlord, AWS Business Properties.
Laurel Lewis represented the tenant, Software Ops, in a 67-month office lease for 2,779 SF at 11333 N. Scottsdale Rd., Scottsdale, AZ. Jerry Noble with Cushman & Wakefield represented the landlord, IPF Scottsdale Norte, LLC.
Laurel Lewis represented the tenant, GeoTek Operations Limited, in a 37-month industrial lease for 9,966 SF at 4050 E. Cotton Center Blvd., Phoenix, AZ. Jackie Orcutt with CBRE represented the landlord, BKM, Cotton Center 106, LLC.
Laurel Lewis represented the tenant, North Star Wealth Management, LLC, in a 60-month lease for 1,490 SF at 18835 N. Thompson Peak Parkway, Scottsdale, AZ. Mike Strittmatter with CBRE represented the landlord, Canyon Village Partners LLC.
Troy Giammarco represented the tenant, Camelback Mortgage, in a 36-month office lease for 1,879 SF at 7600 N. 16th St., Phoenix, AZ. Greg McMillan with Cushman & Wakefield represented the landlord, B.H. Squaw Peak, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, CP6MF, LLC, in a 64-month retail lease for 755 SF at 1840 E Warner Rd., Suite 105, Tempe, AZ.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Ken’s Nails, in a 64-month retail lease for 1,551 SF at 7001 N. Scottsdale Rd., Suite D-166, Scottsdale, AZ.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, LNR Partners, LLC, in a 60-month retail lease for 2,800 SF at 20987 N. John Wayne Parkway, Maricopa, AZ.
Laura Pogue represented the tenant, Elite Chiropractic and Wellness, LLC, in a 60-month retail lease for 3,176 SF at 5940 W. Union Hills, Suite B-100, Glendale, AZ. Rachael Thompson with Kidder Mathews represented the landlord, Il Palazzo Center, LLC.
Matt Harper represented the landlord, AJL Properties, LLC in a 60-month retail lease for 1,558 SF at 1619 N. Dysart Rd., Suite 104, Avondale, AZ. Matt Bustamante with Realty One Group represented the tenant, One Health Primary Care, LLC.
Laurel Lewis represented the tenant, PCB Group Sales Co, in a 38-month office lease for 2,435 SF at 4505 E. Chandler Blvd., Suite 115, Phoenix, AZ. Scott Baumgarten with Cushman & Wakefield represented the landlord, HB Foothills Gateway, LLC.
Jeff Adams represented the tenant, Ultra Car Detailing, LLC, in a long-term industrial lease for 4,158 SF at 7931 E. Pecos Rd., Suite 148, Mesa, AZ. Lance Clodfelter with Wilson Property Service represented the landlord, Pecos Sossaman Commerce, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Biscuits Café, Inc., in a 126-month retail lease for 4,300 SF at 24874 N. 67th Ave., Peoria, AZ.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, New Bell Tower, LLC, in a 60-month retail lease for 1,705 SF at 4925 W. Bell Rd., Suite C-5, Phoenix, AZ.
Isy Sonabend represented the tenant, Zieglar’s NYPD, in a 36-month industrial lease for 2,823 SF at 20819 N. 25th Place, Phoenix, AZ. Steve Mardian with Cassidy Turley represented the landlord, Larry Stuart.
Kevin Higgins, Lane Neville and Barbara Lloyd represented the landlord, Bogle Family Realty, in a 36-month office lease for 1,391 SF at 7227 N. 16th St., Suite 118, Phoenix, AZ.
Kevin Higgins, Barbara Lloyd and Lane Neville represented the landlord, Bogle Family Realty in a 36-month office lease for 878 SF at 7227 N. 16th St., Suite 224, Phoenix, AZ.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, New Bell Tower, LLC, in a 24-month retail lease for 1,230 SF at 4915 W. Bell Rd., Suite F-205, Phoenix, AZ.
Matt Harper represented the landlord, M&N Realty, in a 38-month retail lease for 850 SF at 12020 S. Warner Elliot Loop, Suite 122, Phoenix, AZ.
by Peter Madrid | Sep 26, 2017 | News & Updates
PHOENIX, ARIZONA (September 26, 2017): NAI Horizon represented the landlord and the tenant in negotiating a long-term lease for Planet Fitness at 2456 E. Baseline Rd., in Phoenix.
The NAI retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek and Gabe Ortega, and Associate Patrick Anthon represented both sides in the $5.255 million transaction for the retail property.
The landlord is Vahik Sahaklan & Sons, LLC, of Fishers, Indiana. The tenant is PF South Mountain, LLC, of Sedona, Arizona.
“This location fills the void in the South Mountain retail corridor for affordable fitness,” Gerow said. “NAI Horizon continues to bring Planet Fitness locations to underserved areas of the Valley.”
The new Phoenix Planet Fitness location will take up 20,350 square feet at 24th Street and Baseline Road.
by Peter Madrid | Sep 20, 2017 | News & Updates
PHOENIX, ARIZONA (September 20, 2017) – August proved to be a scorcher for NAI Horizon Senior Vice President Laurel Lewis, who closed five lease transactions totaling $1.785 million (21,198 square feet) and the sale of an office condo for $395,000.
Laurel Lewis
Lewis, a member of the Office Properties Group, began the month representing the tenant in a long-term lease for GeoTek Operations Limited at Koll Cotton Center, 4050 E. Cotton Center Blvd., in Phoenix. The deal for 9,966 SF totaled $315,722.
The subsequent long-term tenant representation deals included:
>> North Star Wealth Management, LLC, 1,490 SF, $200,529, Canyon Village, 18835 N. Thompson Peak Parkway, Scottsdale;
>> Software Ops, 2,779 SF, $416,850, Scottsdale Norte, 11333 N. Scottsdale Rd., Scottsdale;
>> Wilson & Company, 4,538 SF, $683,536, Phoenix Gateway Center, 410 N. 44th St., Phoenix;
>> PCB Group Sales Co., 2,435 SF, $168,623, Foothills Gateway, 4505 E Chandler Blvd., Phoenix.
“I enjoy representing my client’s best interest whether they are leasing a space or buying or selling a building and appreciate the trust they put in me and NAI Horizon,”
Lewis said. “The office market in Phoenix is healthy and robust with new construction, positive absorption, and increasing rates. Now more than ever it’s key to engage a qualified broker for representation.”
Lewis wrapped up the month representing the seller in the $395,000 (1,845 SF) office sale at 1747 E. Morten Ave., Phoenix. Lewis represented The 1906, LLC.
by Peter Madrid | Sep 19, 2017 | News & Updates
PHOENIX, ARIZ. (September 19, 2017) – Iconic Design Studio recently completed high-end interior design services for a variety of clients including the developer of Bible study software, an organization that provides business services to schools, a retinal specialist, and a water conservation group.
Besides providing interior design services, Owner/Principal Kelli Berry of Phoenix-based IDS consulted on tenant improvements and conceptual interior space. The projects:
Faithlife building in Chandler.
>> Faithlife Corporation, 6,414 SF, Chandler: This project included the remodeling of an existing convenience store into new office space. Added were conference rooms, a break room, two outdoor patios, and new exterior paint.
“This in-fill property close to Downtown Chandler required us to remove convenience store equipment and add new exterior windows to bring additional light in the facility,” Berry said.
Wolverine Builders was the general contractor. Other team members were Mechanical Designs Inc., and Hawkins Design Group.
>> CFE Management Group, 28,000 SF, Chandler: Work on this $1.5 million project included new interior doors, walls, break rooms, conference rooms, an open office area, executive area, and lobby.
Kelli Berry
“This ground-up facility will serve as the new corporate headquarters for CFE,” Berry said. “It features an open office concept with exposed roof structure, floating ceiling clouds, a large break room with outdoor patio, and huddle rooms designed for collaboration among co-workers.”
Leading the project was LGE Design Build.
>> Retinal Consultants of Arizona, 26,124 SF, Phoenix: Work included a new medical office, eight exam lanes, five diagnostic lanes, 10 pre-testing lanes, two laser suites, two special procedure suites, designated retina fellow exam lane, a dedicated clinical research wing, two waiting areas, and a coffee bar. Located upstairs is a conference center, large and small boardroom, and seven executive suites.
The facility was a former gym with an indoor pool and running track. New windows were added to bring additional light into the space. The lobby had a two-story opening that needed to be addressed. GCON Construction was the GC.
Roosevelt Water Conservation District HQ in Gilbert.
>> Roosevelt Water Conservation District corporate HQ, 20,337 SF, Gilbert: IDS work included a public board room and management offices. Architectural services were provided by Adaptive Architects Inc.
by Peter Madrid | Sep 18, 2017 | News & Updates
PHOENIX, ARIZONA (Sept. 18, 2017) – NAI Horizon, celebrating 25 years in the Valley, continues its growth in Arizona with the hiring of Sarah Stecko as Marketing Specialist.
Stecko will collaborate with the brokerage teams to provide coordination and creation of consistently-branded marketing materials. This includes proposals, database support, and preparation of accurate, timely, and relevant documentation.
Stecko comes to NAI Horizon after three years as Editor in Chief of Commercial Executive Magazine where she produced both online and print content. She has also spent time and held various positions at R&R Partners, Allied Integrated Marketing, and Knoodle Advertising Agency.
“Adding Sarah to our team furthers our vision of supporting our agents with the best possible resources,” said Terry Martin-Denning, Principal and CEO of NAI Horizon. “Sarah’s skill set and personality are a great fit for our NAI team. We’re excited to have her working with us.”
A native of Chicago, Stecko is actively involved with industry groups including Valley Partnership, NAIOP Arizona, Urban Land Institute, and Risk Management Association. Her community involvement includes volunteering with the Valley Partnership Community Project.
Stecko is a graduate of Arizona State University’s Cronkite School of Journalism and Mass Communication. She is currently working toward an MBA at Grand Canyon University.
by Peter Madrid | Sep 18, 2017 | News & Updates
TEMPE, ARIZ. (September 18, 2017) – Leo Sanchez, Commercial Sales Executive of Major Accounts at Fidelity National Title Agency, has been elected Vice President of the Board of Directors for the W.P. Carey School of Business, Masters of Real Estate Development Alumni Program.
In May Sanchez completed the prestigious W.P. Carey School of Business, MRED Program. Sanchez, who has been with Fidelity Title for two years and in the local real estate industry for 13 years, also holds an MBA with a concentration in finance from Keller Graduate School of Management.
“It’s truly an honor and a privilege to serve on the board,” Sanchez said. “It’s incredible to see how our program has gained exposure nationally and I look forward to the opportunity to work with my fellow alum in the years to come.”
Other board members include Denise Christensen, President, Habitat Metro; Kati Routh, Communications, Glacier House Hotels; Julie Harris, Secretary, SVN; Amanda Donner, Treasurer, independent developer; and Members at-Large Brad Broyles, COBE Real Estate; and Tina Heinbach, Past President, Garrett Development Corporation.
“The program has just started its 12th year and the MRED alumni body has grown to over 300 graduates. It brings great pride that our alums are making an impact as leaders in the real estate industry around the globe,” Christensen said.
The nine-month MRED program prepares participants to lead real estate development projects that are environmentally respectful, socially responsible, and artfully designed. It is a transdisciplinary partnership between four highly regarded schools within Arizona State University: The W. P. Carey School of Business; the Sandra Day O’Connor College of Law; the Herberger Institute for Design and the Arts; and the Del E. Webb School of Construction.
A native of El Paso, Texas, Sanchez is active in several industry organizations and serves on committees for ULI Arizona and NAIOP Arizona. He is also a member of Valley Partnership. Sanchez has lived in the Valley 17 years. He and his wife, Maricela, volunteer with various nonprofits, working with organizations that serve underprivileged children.
