by Peter Madrid | Jun 1, 2017 | News & Updates
PHOENIX, ARIZONA (June 1, 2017): NAI Horizon Senior Vice President Isy Sonabend negotiated the $1.53 million sale of an industrial building at 639 S. 54th Ave., in Phoenix.
NAI Horizon represented the seller and the buyer in the acquisition of the 11,250-square-foot building located in an industrial subdivision.
The property sits on 2.14 acres. The buyer, EGV Associates of Ontario, Calif., dba AMREP, Inc., is a fabricator of waste collection trucks and mechanisms. Its clients include the City of Phoenix and Waste Management. The seller is Adam Garcia Properties, LLC, of Phoenix.
“Phoenix represents a growth market for AMREP,” Sonabend said. “Increased sales to its client base in Arizona and surrounding states prompted the capital investment for the launching of a fabrication plant and service center.”
The property was built in 2004. It features warehouse clear ceiling height of 20 feet serviced by three drive-in, grade-level doors. The site is secured with a block wall and provides ample trailer parking and outside storage. It is located south of Interstate 10 and 51st Avenue.
by Peter Madrid | May 30, 2017 | News & Updates
PHOENIX, Ariz. (May 30, 2017) – The American Dream is changing to embody new technologies and desire for different living options.
How are homes of the future being transformed through innovation, including non-traditional options for changing demographics and markets? This and other questions will be answered at its next Main Program as ULI Arizona explores new tactics developers and builders are employing to streamline delivery efficiencies, and ways to capitalize on niche housing markets as unique opportunities.
Housing Our Future: Building For Innovation is scheduled for June 8 from 7:30 a.m. to 9:30 a.m. at The Esplanade Conference Center, 2501 E. Camelback Rd., Suite 50, Phoenix.
Moderating the event will be Tim Sullivan, Managing Principal, Meyers Research. Panelists include Mike Rock, President, Katerra Construction; Scott Root, Director of Virtual Construction, Kitchell; and Brian Stark, Co-Founder, STARKJAMES.
To register, visit arizona.uli.org/event/main-program-housing-our-future/
by Peter Madrid | May 30, 2017 | News & Updates
TEMPE, ARIZ. (May 30, 2017) – Fidelity National Title Agency is proud to announce that Leo Sanchez, Assistant Vice President, Commercial Sales Executive/Major Accounts, successfully completed the prestigious Arizona State University W.P. Carey School of Business Master of Real Estate Development Program.
Leo Sanchez
Sanchez, who has been with Fidelity Title for two years, is responsible for maintaining client relationships, account management, and business development for major accounts in the commercial real estate sector across all asset classes.
In addition to his recently-earned MRED degree, Sanchez also holds an MBA with a concentration in finance from the Keller Graduate School of Management.
“Leo is incredible at building relationships and connecting dots for his clients,” said Diane Day, Senior Vice President | Operations Manager at Fidelity National Title. “His customers deeply appreciate his passion for being a valued partner and we love that he relentlessly stays current and educated on industry trends in the commercial market.”
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.
The nine-month MRED program prepares participants to lead real development projects that are environmentally respectful, socially responsible, and artfully designed. It 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; and the Del E. Webb School of Construction.
by Peter Madrid | May 25, 2017 | News & Updates
Sale Transactions:
Mark Wilcke negotiated the sale of a 15,097 SF industrial property, representing the buyer, Executive Investment, LLC, for $1.786 million. The property is located at 4148 W. Venus Way, Chandler, AZ. Kent Hanson of Cushman & Wakefield represented the seller, Tice Family, LLC.
Jeff Adams negotiated the sale of a 2,608 SF office property, representing the buyer, WM Symposia, Inc., for $417,280. The property is located at 2152 S. Vineyard, Suite 102, Mesa, AZ. Tim Tapia of Upland Group represented the seller, TSIT Holdings, LLC.
Rick Foss negotiated the sale of a 2,200 SF industrial property, representing the seller, Danny L. Miller, for $190,000. The property is located at 2434 S. 17th Place, Phoenix, AZ. Raymond Brown of Person to Person Realty represented the buyer, Ruben B. Solares and Mana T. Solares.
Lease Transactions:
Tyler Smith represented the tenant, Landmark Title Assurance Agency of Arizona, LLC, in a 78-month office lease for 5,105 SF at 2555 E. Camelback Road, Phoenix, AZ. Patrick Boyle of CBRE represented the landlord, Esplanade Owner L.P.
Tyler Smith represented the landlord, Pacifica Palm Valley Center, L.P., in a 63-month office lease for 5,473 SF at 1626 N. Litchfield Road, Goodyear, AZ. Jason Moore of JLL represented the tenant, Jensen Hughes, Inc.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, The Market at Estrella Falls, LLC, in a 120-month retail lease for 2,500 SF at 1981 N. Pebble Creek Pkwy, Goodyear, AZ. Rich Andrus of Menlo Group Commercial Real Estate represented the tenant, ProSmiles Orthodontics, PLLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Queen Creek Fiesta, LLC, in a 60-month retail lease for 1,950 SF at 21545 S. Ellsworth Loop Rd., Queen Creek, AZ.
Sharon Reeves represented the tenant, Renew Sleep Solutions, Inc., in a 63-month office-medical lease for 2,309 SF at 5422 W. Thunderbird Rd., Glendale, AZ. Michelle Rae of Healthcare Management of America represented the landlord, HTA-Thunderbird Medical, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, The Irving O. and Esther S. Kozinets Revocable Trust, in a 62-month retail lease for 1,400 SF at 1800 E. Apache Blvd., Tempe, AZ.
Laurel Lewis represented the tenant, Crossroads, Inc., in a 39-month office lease for 6,200 SF at 1700 E. Thomas Road, Phoenix, AZ. Alexandra Loye of Avison Young represented the landlord, B&B Thomas Road Properties, LLC.
Jeff Adams represented the tenant, Solar Traffic Controls, LLC, in a 37.5-month industrial lease for 4,800 SF at 1155 W. 23rd St., Tempe, AZ. Rod Crotty & Franklin Connell of Cutler Commercial represented the landlord, (Gary) Zimmerman Properties, LLC.
Jeff Adams represented the tenant, Schetky Northwest Sales, Inc., in a 37-month industrial lease for 4,853 SF at 407 S. 107th Ave., Tolleson, AZ. John Cohn of CBRE represented the landlord, EJM Oxnard Commerceplex, LLC.
by Peter Madrid | May 18, 2017 | News & Updates
PHOENIX, ARIZONA (May 18, 2017) – NAI Horizon Senior Vice President Mark Wilcke represented the buyer in a $1.786 million acquisition of a 15,097-square foot industrial building at 4148 W. Venus Way at Stellar Airpark in Chandler, Ariz.
Wilcke represented Executive Investment, LLC, dba East Valley Precision of Gilbert, Ariz. The free-standing industrial building will be utilized as a manufacturing machine shop.
East Valley Precision is an Arizona-based company that specializes in computer numerical control milling, turning and surface grinding; waterjet cutting; and a variety of other services. It specializes at machining aluminum, stainless steel, CPM 15V tool steel, titanium, plastics, and a variety of other materials.
“East Valley Precision is in expansion mode and this property will allow for that growth,” Wilcke said. “Available free-standing industrial buildings with yard area in the East Valley are getting more and more difficult to find. The demand is there and the supply is limited.”
4148 W. Venus Way was built in 1998 and features a 2,566 SF office, clear height of 16 feet, 100 percent air-conditioned space, grade-level loading, full power, a fenced yard, and taxiway access.
The seller, Tice Family, LLC, of South Lyon, Mich., was represented by Kent Hanson of Cushman & Wakefield.
by Peter Madrid | May 16, 2017 | News & Updates
PHOENIX, Ariz. (May 16, 2017) – W&W Structural, Inc., a woman-owned structural steel subcontractor, has added a vice president of operations and project manager to its growing team in its Tempe, Ariz., office.
President/Owner Jodi Malenfant announced the hiring of Les McCauley as vice president of operations and Beth Ehrhardt as project manager.
Les McCauley
McCauley joins W&W Structural after a stint of 16 years at Agate Steel. A native of Walla Walla, Wash., McCauley will assist, direct, and coordinate all aspects of operations to improve performance, productivity, efficiency, and company profitability.
McCauley moved to Phoenix in 1984 and began a career as a structural steel laborer. Over the next 33 years he worked as a welder, fitter, equipment operator, shop foreman, project manager, and general manager.
“Les possesses a wealth of experience and industry knowledge that makes him a key addition to the W&W Structural family,” Malenfant said. “We are fortunate to add Beth as project manager. As the construction and commercial real estate industries continue to grow again we’re thrilled to see our company grow as well.”
Beth Ehrhardt
Ehrhardt, a native of Chicago who was raised in Miami, Fla., joins W&W from Schuff Steel, where she spent 15 years as a project manager. Her work experience includes stints at Dick Corporation of Puerto Rico and Kiewit.
by Peter Madrid | May 16, 2017 | News & Updates
PHOENIX, ARIZONA (May 16, 2017): NAI Horizon Senior Vice President Rick Foss represented the seller in a $1.92 million entitled land sale of 3.35 acres at the SWC of Price Road and Spectrum Boulevard in Chandler, Ariz.
Foss represented businesswoman Chong Cho of Chandler in the disposition of the land that she had purchased more than 10 years ago.
“This sale presents the highest sale comp for land of its type in the Price Road Corridor,” Foss said. “We were approached by a large number of serious investors due to its size and location in that prestigious, and highly desirable corridor.
“The seller chose to accept the buyer’s offer because they came in with one of the highest offers, reasonable escrow terms, and a project that the City of Chandler would approve. The buyer’s agent informed the seller that they intend to construct a multi-story medical office building on the site. They should be very successful in this venture,” Foss said.
The buyer, Price Novo, LLC of Chandler, was represented by Dan Noma of Venture Real Estate & Investment.
by Peter Madrid | May 11, 2017 | News & Updates
PHOENIX, ARIZONA (May 11, 2017) – NAI Horizon is pleased to announce that Andrew D. Sternberg has joined the Tucson office as a vice president.
His primary areas of responsibility include sales, leasing, and investment services. Sternberg specializes in exclusive representation and negotiation for multiple commercial uses with a focus on office, medical, land, and investment properties. He also handles the exclusive marketing of existing commercial projects, land, and new
Andrew Sternberg
developments.
Sternberg comes to NAI Horizon after 15 years at Oxford Realty Advisors, Inc. He has negotiated more than 1 million square feet of commercial real estate sales and leases with a gross value of more than $160 million.
Major clients include Vestar, Diamond Ventures, NCH Corporation, Holualoa Arizona, Carondelet Medical Group, the University of Arizona, Allstate Insurance, MetLife Home and Auto, Farmers Insurance Group, Arizona Community Physicians, Richmond American Homes and Tucson Embedded Systems.
“Andrew has had a very successful commercial real estate career over the past 15 plus years,” said Ben Craney, Managing Director of the Tucson office. “We are pleased he chose to join the team. Our growth reflects our commitment to making NAI Horizon the top full-service commercial real estate firm in Southern Arizona.”
Sternberg earned CoStar “Power Broker” Top Office Leasing Broker Designation in the Tucson market in 2007, 2009, 2012, 2013, and 2016. A graduate of the University of Arizona, Sternberg earned a Bachelor of Science degree in geography and regional development.
Sternberg holds an Arizona Real Estate License and is a Certified Commercial Investment Member (CCIM) candidate.
by Peter Madrid | May 9, 2017 | News & Updates
PHOENIX, ARIZ. (May 9, 2017)
Sale Transactions:
Lane Neville and Barbara Lloyd negotiated the sale of an 18,801 SF retail property, representing the buyer, MUFG Union Bank, N.A., as Trustee of the John J. Garland Residuary Trust FBO, for $9.675 million. The property is located at 13830 W. Camelback Rd., Litchfield Park, AZ. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller, Evergreen-Camelback & Litchfield, LLC.
Rick Foss negotiated the sale of a 37,995 SF industrial property, representing the buyer, Leap Stores, for $2.781 million. The property is located at 2619 E. Chambers, Phoenix, AZ. Chris McClury and Andrew Cheney of Lee & Associates represented the seller, 2619 E. Chambers, LLC.
Lane Neville and Barbara Lloyd negotiated the sale of an 11,400 SF retail property, representing the seller, DROF I-1, LLC, for $2.7 million. The property is located at 4645 E. Chandler Blvd, Phoenix, AZ. Steve Julius of CBRE represented the buyer, Koloa Ventures II, LLC.
Mark Wilcke negotiated the sale of a 5.96-acre property, representing the seller, 83rd & Van Buren, LLC, for $1.05 million. The property is located at the NWC 83rd Ave. & Van Buren Street, Tolleson, AZ. Linda Chipman of J & L Exclusive Homes & Properties represented the buyer, Mikeno 9150, LLC.
Rick Foss negotiated the sale of an 8,820 SF industrial property, representing the seller, Beugelink Living Trust dated June 21, 1989, for $540,000. The property is located at 3201 W. Harrison, Phoenix, AZ. Esther Gallardo of West USA Commercial represented the buyer, Sergio Ramirez/Raco Marble and Granite.
Rick Foss negotiated the sale of an 11,052 SF industrial property, representing the seller, AGI Holdings, LLC, for $706,600. The property is located at 3731 E. La Salle St., Phoenix, AZ. Adam Kaufmann of CPI represented the buyer, ASA Holdings, LLC.
Tom Bean and Stan Matzinger negotiated the sale of a 3,750 SF industrial property, representing the seller, Durkee and Company, for $350,000. The property is located at 1123 Grand Ave., Phoenix, AZ. Shane Tschida of We Know Urban represented the buyer, 1123 Grand Avenue PHX, LLC.
Lease Transactions:
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, NYPD Pizza, in a 10-year lease for 3,002 SF at 7650 W. Arrowhead Town Center, Suite 120, Glendale, AZ. Morgan Donhoff of Velocity Retail Group represented the landlord, FAE Holdings 416300R, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, CP6MF LLC, a Delaware limited liability company, in an 86-month retail lease for 2,800 SF at 1840 E. Warner Rd., Suite 116, Tempe, AZ. Skylar Bennett and Jennifer Summers of Menlo Group Commercial Real Estate, LLC, represented the tenant, The Grid Cyber Lounge, LLC.
Tyler Smith represented both the landlord, Arrowhead 79th, LLC, and the tenant, AM Nutrition Services, LLC, in an 87-month lease for 2,592 SF at 18001 N. 79th Avenue, Suite A11, Phoenix, AZ.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, CP6MF LLC, in a 60-month retail lease for 2,151 SF at 1840 E. Warner Rd. Suite 124, Tempe, AZ. Bobbie Mastracci of Phoenix West Commercial represented the tenant, Jason Dellacroce and Ryan Dowell.
Thomas Bean represented the landlord, Alva Pinchot, LLC, in a 24-month lease for 3,468 SF at 2944 N. 44th St., Suite 100, Phoenix, AZ.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, LNR Partners, LLC, in a 64-month lease for 1,300 SF at 20987 N. John Wayne Parkway, Suite B102, Maricopa, AZ. Ninos Lazar, of Investar, represented the tenant, Gyro Grill, LLC.
Laurel Lewis represented the tenant, Evangelical Christian Publishers Association, in a 60-month lease for 1,526 SF at 5801 S. McClintock, Suite 104, Tempe, AZ. Steve Fisher, of Fisher Commercial, represented the landlord, Anumhavi Holdings, LLC.
Thomas Bean represented the tenant, Ray Johnson, PC, in a 65-month lease for 1,115 SF at 1500 E. Thomas Rd., Suite 102, Phoenix, AZ. Kevin Higgins, of Landmark, represented the landlord, Presson Advisory, LLC.
Rick Foss represented both the landlord, Friedman Anthem, LLC, and the tenant, Mojo’s Spot, Inc., in a 38-month lease for 2,000 SF at 42302 North Vision Way, Phoenix, AZ.
by Peter Madrid | May 8, 2017 | News & Updates
PHOENIX, ARIZ. (May 8, 2017) – The repositioning of Corporate Center has begun. NAI Horizon has been assigned the exclusive leasing assignment for the 440,000-square-foot office complex along the reinvigorated I-17 corridor in North Phoenix.
Bay Pacific Corporate Center Phoenix, LLC, has hired NAI Horizon’s Troy Giammarco, Tyler Smith, and Nathan Pancrazi to lead the leasing efforts.
In addition, the architectural firm of Ware Malcomb and its team of Kevin Evernham, Niki Ward, Josh Thompson, and Amanda Wells has been hired to create the master plan for repositioning of the asset at 9630-10220 N. 25th Ave.
The improvements will bring the eight-building portfolio up to the new live-work-play requirements of today’s tenants. The multi-million dollar repositioning will consist of:
• Rebranding of the property;
• New boulevard entries and monument signage;
• Upgraded building entries and lobbies;
• Upgraded building standards for tenant improvements;
• Collaborative tenant spaces;
• Site improvements and landscape upgrades;
• On-site food-service provider.
Corporate Center
The submarket is also undergoing a renaissance of sorts. Metro Center Mall, across I-17 from Corporate Center, was purchased by the Carlyle Group which is redeveloping the iconic Valley landmark. The City of Phoenix is upgrading the popular, 80-acre Rose Mofford Park adjacent to Corporate Center.
“With the increase of leasing velocity in the I-17 corridor and large blocks of space for national and corporate users diminishing,” Giammarco said, “the repositioning of the portfolio is perfectly timed to take advantage of both rising corporate confidence and a shrinking pool of availabilities in the submarket. The renaissance of Corporate Center is underway.”
Corporate Center features much 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.
“This amenity-rich project encompasses everything millennials want in today’s workplace,” Pancrazi said. “It is conveniently located on I-17 and offers multiple public and private transportation options, shortening employee commute times. Rose Mofford Park, coupled with the surge of restaurants and night life along 7th Street, embodies the environment necessary for attracting and retaining the brightest employees in today’s competitive job market.”
