by Peter Madrid | Jul 31, 2017 | News & Updates
PHOENIX, ARIZ. (July 31, 2017) – Scottsdale-based investor and attorney Zach Sakas sold a 40-acre parcel of land in North Scottsdale for $5.5 million to Toll Brothers, a Pennsylvania-based luxury home builder.
Sakas, through his company Copper Sky Land LLC, acquired the land in February 2015. The property is located near 120th Street and Jomax Road. The property features dramatic boulder outcroppings and is adjacent to the Scottsdale McDowell Sonoran Preserve.
Rezoning of the property was completed in June.
Bret Rinehart, Ryan Semro, and Ben Heglie at Land Advisors Organization represented the seller.
“The property has gorgeous views of the Preserve, and it’s one of the few large pieces left in that area,” Sakas said.
Toll Brothers has not announced a name for its project or when development might begin. Public records indicate Sakas sold the property in excess of a 90 percent gain over his acquisition price.
“My co-investors are pleased with the outcome, and I’m grateful for their trust and confidence in me,” Sakas said.
Sakas owns another residential land project in North Scottsdale and is seeking additional residential land acquisition opportunities in Cave Creek, Carefree, Fountain Hills, and Scottsdale.
For more information contact Sakas at (602) 499-9999; the Land Advisors brokers at (480) 483-8100; and Jeff Nielsen at Toll Brothers at (480) 596-5815.
by Peter Madrid | Jul 28, 2017 | News & Updates
The Mexican Winter Baseball League’s version of “Spring Training” will return to the Valley for the sixth consecutive year. The Mexican Baseball Fiesta will return to Sloan Park, 2330 W. Rio Salado Parkway in Mesa.
This year’s games will be on Sept. 30 and Oct. 1. Three of the top teams from the Liga Mexicana del Pacifico will participate: Los Naranjeros de Hermosillo, Águilas de Mexicali, and the Cañeros de Los Mochis.
Schedule:
>> Saturday, September 30, 7 p.m., Hermosillo vs. Los Mochis
>> Sunday, October 1, 2 p.m., doubleheader – game schedule TBD
“The Mexican Pacific League, is as popular in Mexico as Major League Baseball is in the U.S., if not more so,” said Francisco Gamez, Mexican Baseball Fiesta, founder, and LLC partner.
Gamez played over 10 years in the Mexican Pacific League as well as in the Milwaukee Brewers organization in the states. Constant excitement is the best way to describe the Mexican Baseball Fiesta.
“The energy of the fans, the music and fun make this a unique experience for all baseball fans. This event embraces our Mexican friends and visitors,” Gamez said.
Mike Feder, President of the Mexican Baseball Fiesta, said: “We are extremely excited that the Mexican Baseball Fiesta continues to grow. Last year’s Saturday night game drew in excess of 3,000 passionate fans.”
Feder was a general manager in minor league baseball for 30 years (15 years in Tucson).
“The Mexican Baseball Fiesta is a rare opportunity for baseball fans in the U.S. to experience authentic Mexican baseball games, which features a festive atmosphere including live music and authentic regional Mexican cuisine. The Mexican Baseball Fiesta is not just a baseball game; it’s a party,” Feder said.
Mesa is one of a number of cities taking part in this year’s Mexican Baseball Fiesta. The other cities finalized are Tucson and Las Vegas.
Tickets to the general public go on sale in early September online. Ticket prices are box seats – $15 and general admission – $10, kids (6-16) $6. Fans will be able to purchase tickets online at MexicanBaseballFiesta.com, at Food City, MV Snack & Sushi and Taqueria Cajeme in Mesa, La Gran Bota, Restaurant Sinaloa, or at Sloan Park the week of the games.
by Peter Madrid | Jul 25, 2017 | News & Updates
PHOENIX, ARIZ. (July 25, 2017): The NAI Horizon investment sales team of Senior Vice Presidents Barbara Lloyd and Lane Neville represented the buyer in the $4.444 million acquisition of the CVS Pharmacy located at the NEC of Warner and Dobson roads in Chandler, Ariz.
The buyer is the Michael S. and Mary M. Cho Family Trust and was represented by NAI Horizon. The seller was Babytail III, LLC and was represented by Brad Richardson of Stan Johnson Company.
“After the successful sale of their Tempe mobile home park they owned for more than 40 years, we were able to assist our client in completing their 1031 exchange and acquire the CVS at Dobson and Warner,” Lloyd said.
“This was an ideal situation for our out-of-state client to 1031 exchange into a NNN leased, single-tenant retail investment,” Lloyd added.
A properly structured 1031 exchange allows an investor to sell a property, reinvest the proceeds in a new property, and defer all capital gain taxes.
“Our client’s 1031 exchange objective was to acquire a high-quality asset with limited downside risk,” Neville said. “Their acquisition of the CVS Pharmacy fulfilled their requirement. Our client has S&P BBB+ credit with CVS Health Corporation (NYSE: CVS). This helps ensure long-term stability for our client.”
by Peter Madrid | Jul 25, 2017 | News & Updates
TUCSON, ARIZ. (July 25, 2017) – The Tucson office of NAI Horizon recently closed on $4.696 million worth of long-term leases and $2.016 million worth of property sales as it continues to expand its presence in Southern Arizona.
Top sales:
- Paul Schloss negotiated the $976,250 sale of Carlotta’s Kitchen, 847 E. 18th St., Tucson. NAI Horizon represented the buyer, 1966 Partners, LLC of Tucson.
- David Blanchette, CCIM, negotiated the $950,000 sale of office buildings at 301-311 E. Fort Lowell Rd., Tucson. NAI Horizon represented the seller, Doyle Beckham of Tucson and Paul Hooker at Cushman & Wakefield-PICOR represented the Buyer, E.C. Environmental.
Top leases:
- Ben Craney negotiated a new lease of 20,500 square feet on behalf of Planet Fitness at Swanway Plaza, 4722 and 4724 E. Broadway Blvd., Tucson. NAI Horizon represented the tenant and Greg Furrier with Cushman & Wakefield PICOR represented the landlord
- Scott Soelter and Ben Craney negotiated a new lease for Chuy’s Mesquite Broiler at Block 4, Marana Main Street, Tucson. NAI Horizon represented the landlord, Marana Main Street, LLC of Tucson.
- Andrew Sternberg negotiated a new lease for a financial services company at Ina Corporate Park, 3017 W. Ina Rd., Tucson. NAI Horizon represented the landlord, 3017 W. Ina, LLC of Tucson and Robert Nolan from Oxford Realty Advisors represented the tenant.
- Ben Craney negotiated a long-term lease for One Stop Nutrition at Cottonwood Properties, 7292 N. Oracle Rd, Tucson. NAI Horizon represented the tenant, OSN Tucson, LLC of Tucson and David Carroll of Romano Real Estate represented the landlord.
- Andrew Sternberg negotiated a new lease for MISOM Technologies, Inc., at Rooney Ranch Professional Offices, 10445 N. Oracle Rd., Tucson. NAI Horizon represented the tenant and Buzz Isaacson from CBRE represented the landlord.
- Scott Soelter and Ben Craney negotiated a new lease for the Eyrie Brazilian Jiu-Jitsu Studio at Placita del Rio, 918 W. Irvington Rd., Tucson. NAI Horizon represented the landlord, PDR Investments, LLC of Tucson.
- Andrew Sternberg negotiated a new lease for a marketing firm at 2432 E. Broadway Rd., Tucson. NAI Horizon represented the landlord, 2424 E. Broadway, LLC. of Tucson.
- Scott Soelter negotiated a new lease for Trident III, 250 S. Craycroft Rd., Tucson, AZ NAI Horizon represented the tenant and Phil Skillings and Ben Craney, NAI Horizon represented the landlord.
- Dave Dutson and Gordon Wagner negotiated a new lease for James Anderson Insurance Agency, 4695 N. Oracle, Suite 115, Tucson, AZ, NAI Horizon represented the landlord and John Hammer with KW Commercial represented the tenant.
- Dave Dutson negotiated a new lease for a reflexology salon at 12152 N. Rancho Vistoso Road at the Safeway Rancho Vistoso Center, NAI Horizon represented the tenant.
by Peter Madrid | Jul 25, 2017 | News & Updates
Renovation plan attracts new entertainment, dining tenants, bringing new concepts to the Sedona community
Sedona, Ariz. (July 25, 2017) – Sedona Vista Village announces that the Majestic Theatre & Speakeasy Supper Club will be opening soon, occupying the 6,500-square-foot building which formerly housed the IMAX Theatre in the rear of the property.
The Majestic Theatre, which will accommodate 170 guests, will feature comedy on Thursday nights, a Friday Follies burlesque/variety show, live music on Saturday nights, and classic movies on Sundays. It is slated to open in September.
The Speakeasy Supper Club, which has seating for 100 in its unique 1920s designed theme dining room and outdoor back patio, will serve dinner and drinks Wednesday through Sunday. The Speakeasy Supper Club is expected to open to the public in August and its main menu features will include steaks, seafood, burgers, and flatbreads accompanied by a beautiful global wine selection. For additional details and the event schedule for the new entertainment and dining venues, visit: www.majestic-speakeasy.com.
“Our plan for this property is to update its tired look, and to attract unique and interesting new businesses that will provide residents of the Sedona area new options for dining, entertainment, and shopping,” said Marty Aronson, an owner of Sedona Vista Village. “With the addition of these two concepts, we are on track for achieving our vision.”
The Majestic Theatre and Speakeasy join current tenants of the development, which include Famous Footwear, Tuesday Morning, L’eggs•Hanes•Bali•Playtex, and Kitchen Collective.
Also joining the development will be Westin Hotels’ Element Concept, which is expected to open in late 2018, and will be located on the north end of the Sedona Vista Village development. Additional storefront space on the south side is available for lease immediately.
The chief leasing agent for Sedona Vista Village is Jack McMahon of John D. Miller Commercial Real Estate Services, in Sedona. He can be reached at 928-224-2709 or jack@johndmiller.com.
by Peter Madrid | Jul 24, 2017 | News & Updates
PHOENIX, ARIZ. (July 24, 2017) – Fidelity National Title Agency is pleased to announce the promotion of Assistant Vice President Jodi Ayala to the position of Escrow Branch Manager of the newly formed Biltmore Lakes branch office, 2720 E. Camelback Rd., Suite 100, in Phoenix.
Jodi Ayala
Ayala, who has been with Fidelity National Title Agency for nine years, most recently served as Assistant Branch Manager of Fidelity’s Scottsdale Kierland office.
Ayala is responsible for the day-to-day operations of the branch, overseeing the overall profitability of the branch, as well as training and coaching her team. As an escrow officer, she specializes in the residential segment of real estate, focusing on resale, refinance, investor, and builder transactions.
Recognized as a top performer for Fidelity National Title Agency, Ayala has received the 2011 Top 2 Percent Residential Escrow Western Operations Award and the 2012 Top 5 Percent Residential Escrow Officer Award. In addition, she has been honored as a Fidelity National Title Agency’s Star of the Month four times since 2014.
A graduate from the University of Nebraska-Lincoln with a Bachelor of Arts degree, Ayala has used her education in business management to enhance her customer service skills.
“Jodi is not only a skilled escrow professional whose clients are her priority, but she is also an exemplary role model for her co-workers and a welcome addition to our team of escrow branch managers,” said Diane Day, Fidelity National Title Senior Vice President, Operations Manager.
Giving back to the community is important to Ayala. She supports Heart for the City, a mentoring program for inner city children and is a 10-year camp director for Project Kindle, a non-profit organization serving children with illnesses and special needs.
Ayala and her husband have a daughter and a son, and most of her time away from work is spent with her family.
“The most rewarding part of my work is interacting with first-time home buyers and sharing my expertise with clients and staff,” Ayala said.
by Peter Madrid | Jul 24, 2017 | News & Updates
PHOENIX, ARIZ. (July 24, 2017): The NAI Horizon investment sales team of Senior Vice Presidents Barbara Lloyd and Lane Neville represented the seller in the $4.05 million disposition of the Modernette Mobile Home Park, 1707 E. Apache Blvd. in Tempe, Ariz.
NAI Horizon represented the Michael S. and Mary M. Cho Family Trust. The buyer was 2075 Cottonwood Office, LLC.
“Our client owned Modernette for more than 40 years and it was a reliably stable investment for them,” Lloyd said. “The property is less than one mile from Arizona State University and is strategically located along the light rail on Apache Boulevard, just west of the southwest corner of McClintock Drive.”
Modernette Mobile Home Park comprises 79 spaces and six apartment units. It sits on 4.8 acres.
“We are representing our client through this sale toward completion of a 1031 tax deferred exchange,” Neville said. “Their focus is to exchange proceeds from the mobile home park sale into an acquisition of a single tenant, retail asset.”
by Peter Madrid | Jul 24, 2017 | News & Updates
PHOENIX, ARIZ. (July 24, 2017) – The seventh annual Tee It Up To Cure Leukemia charity golf tournament is set for Friday, Sept. 29, at Legacy Golf Course, 6808 S. 32nd St., Phoenix. Registration begins at 11:30 a.m.; the tourney tees off at 1:15 p.m.
The tournament is special to organizer Jana Brickey, Associate/Business Development Director at Dick & Fritsche Design Group. She lost a grandfather to leukemia and in 2009 a great niece was diagnosed with acute lymphoblastic leukemia. An avid bowler, Brickey also lost a friend with whom she competed in a national tournament was diagnosed with lymphoma and died within months
“When I started this event, it was my way of supporting my great niece,” Brickey said. “I wanted to be a part of her battle even though I lived two states away. As the years pass, I have been forever changed by the stories of survivors and have honored the families of those who passed. I hope our collective efforts help eradicate leukemia from our vocabulary.”
The golf tournament has raised more than $32,000 for the Leukemia & Lymphoma Society (LLS), Brickey said. LLS is the largest voluntary health organization dedicated to funding research, finding cures, and ensuring access to treatments for blood cancer patients.
Entry fee for the charity event is $90 per player before August 15, $100 after that date. It includes golf cart, range balls, and lunch before the shotgun start. Sponsorship opportunities are also available.
“Participation has increased each year,” Brickey said. “We had 96 golfers last year. September is also Blood Cancer Awareness Month so the timing of our event makes it even more special.”
For more information and to register for the tourney, visit teeituptocureleukemia.com.
by Peter Madrid | Jul 20, 2017 | News & Updates
PHOENIX, ARIZONA (July 20, 2017) – Recent transactions closed by NAI Horizon brokers in Phoenix.
Sales transactions:
Russ Warner and Andrew Warner negotiated the sale of a 41.85-acre RV Resort, representing the seller, PVC Properties, Corp., for $34 million. The property is located at 400 N. Plaza Dr., Apache Junction, AZ.
Denise Nunez negotiated the sale of a 46,770-SF self-storage property, representing the buyer, Western Tucson, LLC, for $2.775 million. The property is located at 6459 E. Golf Links Rd., Tucson, AZ. Rein & Grossoehme represented the seller, T/F Limited Partnership, LLLP.
Isy Sonabend negotiated the sale of an 11,250-SF industrial property, representing both the buyer, EGV Associates, and the seller, Adam Garcia Properties, LLC, for $1.53 million. The property is located at 639 S. 54th Ave., Phoenix, AZ.
Rick Foss negotiated the sale of a 10,054-SF industrial property, representing both the buyer, McDowell Sonoran Holdings, LLC, and the seller, DJA Fiorano Holdings, LLC, for $965,000. The property is located at 5230 S. 39th St., Phoenix, AZ.
Denise Nunez negotiated a land sale for a self-storage property, representing both the buyer, Waddell & Litchfield Self Storage Partners, LLC, and the seller, Levine Investments Limited Partnership, for $836,628. The property is located at 14120 & 14150 N. Litchfield Rd., Surprise, AZ.
Denise Nunez negotiated the sale of a 20,134-SF self-storage property, representing both the buyer, 603 Industrial Drive, LLC, and the seller, Kada, LLP, for $640,000. The property is located at 603 N. Industrial Dr., Camp Verde, AZ.
Isy Sonabend negotiated the sale of a 5,354-SF industrial property, representing both the buyer, Vanco, LLC, and the seller, PAZ Holdings, LLC, for $425,000. The property is located at 3919-3925 E. Miami Ave., Phoenix, AZ.
Lease transactions:
Horth Hong, Shelby Tworek, Chris Gerow, Gabe Ortega, and Patrick Anthon represented the landlord, Bridford Greensboro, LLC, in a 126-month lease for 10,603 SF at 4716 E. Thunderbird Rd., Phoenix, AZ. Judi Butterworth of ORION Investment Real Estate represented the tenant, Salon Suite III, LLLC.
Chris Gerow, Shelby Tworek, Gabe Ortega, and Patrick Anthon represented the tenant, Modern Warrior Pro, LLC, in a 60-month lease for 1,240 SF at 6501 E. Greenway Pkwy., Scottsdale, AZ. James DeCremer of Strategic Retail Group represented the landlord, LIPT East Greenway Parkway, LLC.
Thomas Bean and Stan Matzinger represented the tenant, Dr. Ludu and Sr. Sharma, in a 12-year lease of 1,360 SF at the NWC of Dove Valley and North Valley Pkwy., Phoenix, AZ. Cameron Warren of Phoenix Commercial Advisors represented the landlord, Canyon Crossroads Retail, LLC.
Mark Wilcke represented the landlord, ICC Tempe, LLC, in a 63-month lease of 8,372 SF at 2515 W. Erie Dr., Tempe, AZ. Susan McCall of RE/MAX Alliance Group represented the tenant, Arizona Auto Resource, LLC.
John Filli represented the tenant, Salus Medical, LLC, in a 60-month lease of 6,732 SF at 2202 West Lone Cactus Dr., Phoenix, AZ. Bob Deininger of Commercial Properties, Inc., represented the landlord, DRD Properties, LLC.
Thomas Bean represented the tenant, Ewing Foley, Inc., in a 65-month lease of 2,655 SF at 4720 E. Cotton Gin Loop, Ste. 132, Phoenix, AZ. John Cerchiai and Spencer Nast of Lee & Associates represented the landlord, Development Services of America, Inc.
Sharon Reeves represented the tenant, Renew Sleep Solutions, Inc., in a 60-month lease of 2,216 SF at 5410 N. Scottsdale Rd., Scottsdale, AZ. Bill Cook of Plaza Companies represented the landlord, Bayport PV Associates, LP.
Thomas Bean represented the tenant, US Health Group, in a 44-month lease of 4,785 SF at 4747 N. 7th St., Phoenix, AZ. Michael Crystal, Emily Currie and Joe Vale of Newmark represented the landlord, Fenway XV, LLC.
Tyler Smith represented the landlord, SWRE DEAL V BUILDING, LLC, in a 63-month lease of 2,544 SF at 1850 N. 95th Ave., Phoenix, AZ. Justin Himelstein of Cushman & Wakefield represented the tenant, Empire West Title Agency, LLC.
Mark Wilcke represented the landlord, Goldberg Family Trust, in a 36-month lease of 2,800 SF at 8222 N. 67th Ave., Glendale, AZ.
Thomas Bean represented the tenant, FIT Electronics, Inc., in a 64-month lease of 1,686 SF at 4001 E. Mountain Sky Ave., Ste. 206, Phoenix, AZ. Kathleen Morgan and Trisha Talbot of Newmark Grubb Knight Frank represented the landlord, Burt E. Fugate.
Laurel Lewis represented the tenant, Schubach Enterprises, Inc., in a 39-month lease of 866 SF at 7150 E. Camelback Rd., Scottsdale, AZ.
Thomas Bean represented the landlord, Alice Avenue, LLC, in a 48-month lease for 1,370 SF at 1110 E. Missouri Ave, Suite 850, Phoenix, AZ. Sue Bentley of Coldwell Banker represented the tenant, Bentley Real Estate Group, Inc.
Rick Foss represented the landlord, Friedman Anthem, LLC, in a 37-month lease for 5,400 SF at 42302 N. Vision Way, Suite 108, Anthem, AZ. Enza Ciolino of DL Jones and Associates represented the tenant, Wyman Plumbing and Mechanical, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, CP6SW, LLC, in a 36-month lease of 1,368 SF at 1949 W. Ray Rd., Chandler, AZ. Lynn Lin of Eclat Real Estate represented the tenant, I Roll Thai Ice Cream, Inc.
Rick Foss represented the landlord, Friedman Anthem, LLC, in a 42-month lease for 1,153 SF at 42302 N. Vision Way, Anthem, AZ.
by Peter Madrid | Jul 20, 2017 | News & Updates
PHOENIX, ARIZONA (July 20, 2017): NAI Horizon Senior Vice President Denise Nunez negotiated the $640,000 sale of a self-storage facility at 603 N. Industrial Dr., in Camp Verde, Ariz.
Nunez represented both the seller and the buyer. Kada LLP of Arizona sold the 20,134-square-foot, 176-unit facility, Anchor Mini Storage, to 603 Industrial Drive LLC, a regional self-storage operator.
“This is a 32-year-old, market-established, mom-and-pop operation that will benefit from a buyer who will make some improvements to the site as well as implement a marketing strategy to include a website presence,” Nunez said.
“Camp Verde is one of those sleeper communities that is turning the corner with new retail planned and infrastructure improvements to support expected growth,” Nunez said.
Anchor Mini Storage sits on 2.38 acres in Camp Verde. Besides the sale of Anchor Mini Storage, the deal included a ground lease with United Parcel Service, Inc.
