by Peter Madrid | Aug 15, 2017 | News & Updates
TUCSON, ARIZONA (August 15, 2017) – Vice President David Blanchette, CCIM, of the NAI Horizon Tucson office negotiated the $1.14 million ($194.08/SF) acquisition of a 5,874-SF retail property at 522 N. 4th Ave., in Tucson.
NAI Horizon represented the seller, Stan S. Katz of Encinitas, Calif., in the transaction. Doug Jones of RE/MAX Alliance Group represented Avtar C. Verma of Paradise Valley, Ariz., the buyer.
“Over the past three years we have seen a steady increasing interest in the 4th Ave. entertainment corridor for investors and local merchants,” Blanchette said. “With the completion of the Light Rail Modern Street Car and the massive infusion of capital to the Downtown Tucson renaissance, 4th Avenue is ready for its own resurgence.
“Successful restaurants and merchants are expanding like Boca Tacos and Lindy’s, and Creations Boutique, which is owned by Mr. Verma. I expect to see 4th Avenue expand its diverse and eclectic mix of restaurants, shops, and clubs to meet the growing downtown population,” Blanchette said.
by Peter Madrid | Aug 14, 2017 | News & Updates
PHOENIX, ARIZONA (August 14, 2017) – NAI Horizon Senior Vice President Denise Nunez partnered with Kris Wessel, a commercial specialist with NAI Martens, in negotiating the $3.85 million sale of Reno Avenue Self Storage in Oklahoma City.
Nunez and Wessel represented the seller, a regional self-storage owner/operator. Adam Slovis of Slovis & Associates represented the buyer, a limited liability company from Memphis, Tennessee.
“It was a pleasure working with NAI Martens,” Nunez said. “The NAI partnership allowed the seller the comfort of working with someone they trusted who had local expertise while benefiting from the national exposure and expertise that my self-storage team was able to provide.
“The property was marketed utilizing the full resources of the NAI platform. The effort produced several offers and the seller and buyer commented on how pleased they were with the smooth close,” Nunez said.
Reno Avenue Self Storage sits on 5.37 acres and is well located near the I-35 and the I-40 freeways in Oklahoma City. It comprises 93,610 square with 577 units. It is the only facility within a 3-mile radius that offers climate controlled units.
by Peter Madrid | Aug 9, 2017 | News & Updates
PHOENIX, ARIZ. (August 9, 2017): The NAI Horizon investment sales team of Senior Vice Presidents Barbara Lloyd and Lane Neville represented the buyer in the $1.3 million acquisition of Highland Corner, 4024 E. Guadalupe Rd., in Gilbert, Ariz.
The buyer is GGR Holdings, Inc., a Nevada corporation. The seller was Recker-Highland Corner LLC.
“At 100 percent occupancy, this acquisition provides our client with a quality, stabilized asset located in a submarket with very solid demographics,” Lloyd said. “We were pleased to secure this investment for GGR Holdings in a highly competitive buying environment for assets in this price range.”
The property is a retail strip center and totals 7,558 square feet. Tenants include Tutoring Club, Can Dance, Hair Unlimited, and Sun Valley Nails. Judi Butterworth and Lacey Eyman of ORION Investment Real Estate represented the seller.
by Peter Madrid | Aug 8, 2017 | News & Updates
PHOENIX, ARIZONA (August 8, 2017): NAI Horizon negotiated a long-term lease for Texas-based Varsity Tavern at 501 S. Mill Ave., in Tempe.
The NAI retail properties team of Senior Vice Presidents Shelby Tworek, Chris Gerow and Gabe Ortega and Associate Patrick Anthon represented the tenant, Ipsum Creative LLC of Tempe, in the transaction totaling $2.641 million.
Varsity Tavern will occupy the second and third floors of the retail property. It will take 10,925 square feet with 3,400 SF of patio space. Gringo Star occupies the first floor.
“We’re looking forward to seeing Varsity Tavern come to Arizona,” Anthon said. “It will be a great option in downtown Tempe for both good food and entertaining nightlife. The group is looking to revitalize the former Hooters space, and has some exciting plans in place to cater to students, those in the Tempe workforce, and nearby residents.”
The landlord, Century Drive Investments of Phoenix, was represented by Brian Gast of Velocity Retail Group.
by Peter Madrid | Aug 7, 2017 | News & Updates
TEMPE, ARIZ. (August 7, 2017) – Chelsea Peitz says one of her roles at Fidelity National Title Agency is to help successful real estate professionals use social media to build a memorable brand and boost their bottom line.
That has earned Peitz, Assistant Vice President, Director of Social Strategy, a prestigious top ranking by San Francisco-based Inman, an industry leader that covers social media aspects of the real estate industry.
Peitz topped Inman’s list of the 20 best real estate Snapchatters in the U.S.
Peitz is a frequent speaker on real estate marketing topics and will be a guest speaker this month in San Francisco at Inman Connect, a week-long event that brings together more than 4,000 top producing agents and brokers, real estate franchise CEOs, marketing executives, and tech entrepreneurs.
Her topic will be “Talking in Pictures: How Snapchat changed how we build our personal brand.” Fidelity National Title Agency is the only title company with a speaker at the event.
A graduate of Arizona State University, Peitz has more than 16 years of experience in the real estate space. She previously served as Director of Marketing at Fidelity National Title.
Peitz is an Inman News contributing writer whose pieces often focus on leveraging technology to grow business. She also educates real estate professionals and shares best practices to expand their careers.
“We are so excited and proud that Inman recognized Chelsea for this prestigious honor,” said Sharon Terhune, Vice President and Residential Sales Manager at Fidelity National Title Agency. “She is truly a thought leader in the industry and an asset to Fidelity. As a matter of practice, our team is always looking for the most innovative ways to help our best partners create a competitive advantage.
“Chelsea has helped the sales team create digital branding strategies and build authentic campaigns to enhance the businesses of our best real estate partners,” Terhune said.
According to Inman’s website, half of Snapchat’s new daily users in the U.S. are 25 and older. This group uses Snapchat 12 times a day for a total of 20 minutes. Users under 25 are visiting Snapchat 20 times a day and spending over a half hour on the app.
Says Inman: “Imagine all that reach to future homebuyers and sellers; it’s no wonder real estate has gravitated toward the platform.”
by Peter Madrid | Aug 3, 2017 | News & Updates
PHOENIX, Ariz. (August 3, 2017) – W&W Structural, Inc., a woman-owned structural steel subcontractor, has added Bobby Esmilla as a Senior Estimator to its growing team in its Tempe, Ariz., office.
Bobby Esmilla
Esmilla will be responsible for estimating and material take-off for complete steel bid packages. A native of Manila, Philippines, Esmilla previously worked at Ironco Enterprises, Senior Estimator; Maricopa Metals, Chief Estimator; and Schuff Steel, Detailer/Estimator.
“Bobby is a critical thinker with exceptional communication skills,” said W&W President/Owner Jodi Malenfant. “His more than 25 years of experience in steel fabrication, detailing, and estimating adds more expertise to our superior team.”
Esmilla holds a Bachelor of Science degree in architecture from Far Eastern University in Manila.
by Peter Madrid | Aug 3, 2017 | News & Updates
PHOENIX, ARIZ. (August 3, 2017) – Bryant Commercial Real Estate (BCRE), a woman/minority-owned company, has expanded its services, added staff, and moved into new headquarters at 5555 E. Van Buren St., in Phoenix.
BCRE is a diversified company focused on providing integrated commercial real estate solutions to businesses throughout the Valley.
Founded in 2013 by Adrienne Bryant, BCRE provides site selection, sales/lease negotiation, landlord/tenant representation, and real estate consulting services. BCRE also has created a unique Resource Coordination Service to address the complex needs of its clients. This service includes franchise consulting, facilities management, architectural design, and construction management delivered through collaboration with its growing list of strategic partners.
“Our company is providing a full scope of solutions for our clients that will range from starting a business to disposition and providing resources that extend from Bryant’s decades of relationships with local business owners,” said Bryant, Designated Broker and co-owner with her daughter Jonvieve.
Franchises and businesses that BCRE has recently been working with include FLO Hot Yoga & Cycle, opening in Downtown Chandler; Office Evolution, opening soon in the Southeast Valley; Compatible Homecare, in Chandler; Wow Wow Hawaiian Lemonade; Club Pilates; and All In One Posters Company located in Chandler.
BCRE’s unique approach includes its companion company, Franchise Me Next, which provides consultation, franchise research, data analysis, and franchise selection assistance
“Offering franchise services is a natural evolution for BCRE,” said Reginald Thompson, Franchise Consultant with Franchise Me Next. “We are building on the relationships and hard work that BCRE has become known for over the years.
“Through Franchise Me Next, we will offer franchise consulting, brokerage, and development services. We are excited to assist entrepreneurs in accomplishing their dream of successful business ownership through franchising,” Thompson said.
The City of Phoenix has recently certified Bryant Commercial Real Estate as a Small Business Enterprise (SBE) /Disadvantaged Business Enterprise (DBE). This certification will allow BCRE to serve the local community through contracting and procurement opportunities with the City of Phoenix and Maricopa County.
BCRE is a growing company with a staff that now numbers 12 employees.
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.”
