by Peter Madrid | Jul 6, 2017 | News & Updates
PHOENIX, ARIZONA (July 6, 2017) – The largest recreational vehicle park in Apache Junction, Ariz. – Lost Dutchman RV Resort – recently sold for $34 million ($46,575 per space).
Russ and Andrew Warner of NAI Horizon’s Manufactured Housing Group represented the seller, PVC Properties, Inc., of San Diego, a California corporation, in the transaction.
Lost Dutchman RV Resort, 400 N. Plaza Dr. in Apache Junction, comprises 730 spaces, more than 93 percent of which are occupied by permanently affixed, park model homes.
“The strong pricing of the gated park is a tribute to the seller’s success in creating a sense of community for the residents,” Russ Warner said. “The resort’s high occupancy and an unusually small number of for sale signs in the park are reflections of their efforts.”
Amenities of the park include a guard-gated entrance; two swimming pools, a Jacuzzi, a large recreation building and social hall for meals, dances, and entertainment; and exercise and arts and crafts rooms.
The principals of the buying entity, Spear Group, LLC, of Arizona City, Ariz., own nearly 2,400 RV and mobile home spaces in Arizona.
by Peter Madrid | Jul 5, 2017 | News & Updates
PHOENIX, ARIZONA (July 5, 2017): NAI Horizon negotiated a long-term retail lease on behalf of the landlord for American Freight Furniture at Bell Tower Village, 4913 W. Bell Rd., in Glendale, Ariz.
The NAI Horizon retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek and Gabe Ortega and Associate Patrick Anthon represented New Bell Tower, LLC, of Greenwood, Colo., in the transaction that totaled $1.266 million.
American Freight Furniture, a discount furniture and mattress retailer, will occupy 25,700 square feet at Bell Tower Village. Anchors at the neighborhood center include Walgreen’s, Harbor Freight Tools, and Planet Fitness.
“The new owners have been investing a substantial amount of money to rehab this center,” Tworek said. “The vision of the center was to take the failed restaurant concept and then combine the adjoining vacant space to create a mini-major space which was the original design of the shopping center.
“We were fortunate to come to terms with a furniture store that has 140 locations nationwide. That will help generate additional traffic into the shopping center and benefit co-tenants as well as the neighborhood,” Tworek said.
The tenant, American Freight of Tennessee, LLC, is from Delaware, Ohio.
by Peter Madrid | Jun 21, 2017 | News & Updates
Westin hotel, stores, dining, entertainment venues to repurpose factory outlet site
PHOENIX (June 21, 2017) – Sedona Vista Village is set to transform the faltering 90,000-square-foot Sedona Village Factory Outlets with a renovation and by adding the town’s first Westin hotel to anchor the newly purchased 9-acre development located on SR 79 in the Village of Oak Creek, known as the gateway to Sedona.
The new owners of Sedona Vista Village will be demolishing a portion of the existing buildings on the north end of the property to make room for the hotel, Element by Westin. The three-story, nearly 120-room hotel, which is scheduled to open in late 2018, will include a pool, workout room and conference room.
Element by Westin is the latest boutique hotel offering by Starwood Hotel & Resorts, a subsidiary of Marriott International, Inc. The rooms are designed as free-flowing space, some with kitchenettes, that can be customized by guests to meet their needs. In addition, the hotel contributes to sustainability efforts through paper recycling bins in each room, recycled materials in carpets and low VOC (volatile organic compounds) interior paints.
Marty Aronson, head of Sedona Pine Tree Ventures, LLC, purchased the property in February from Oak Creek Development, LLC. A part-time Sedona resident, Aronson recognized the potential of the factory outlet location, which is one of the first retail developments visitors pass along SR 179 when traveling from the I-17 to the Village of Oak Creek and Sedona.
“With Element by Westin and our planned renovations, we are bringing new life to Sedona Vista Village, making it highly attractive to tourists and locals alike, by offering a unique vacation, dining, shopping, and entertainment experience in a prime location,” said Aronson. “We’ve begun making design decisions, and soon residents will see first-hand the benefits of our investment and the site improvements.”
The three existing retail buildings on the remaining 50,000 SF to the south will be renovated to complement the aesthetic of the hotel and will be available for retail use. Current tenants Famous Footwear, Tuesday Morning, L’eggs•Hanes•Bali•Playtex, and Kitchen Collective will remain. All surrounding storefront space on the south side is available immediately for lease.
The chief leasing agent for Sedona Vista Village is Jack McMahon of John D. Miller Commercial Real Estate Services, Inc., in Sedona. For more information on Sedona Vista Village visit johndmiller.com, or contact McMahon at 928-224-2709 or at jack@johndmiller.com.
by Peter Madrid | Jun 15, 2017 | News & Updates
PHOENIX, ARIZONA (June 15, 2017) – NAI Horizon is pleased to announce that Matt Harper, CCIM, has joined the company as an Associate in the Retail Properties Group.
Harper’s primary areas of focus will be retail leasing and sales. He will continue working with his existing clients, representing both landlords and tenants. With its global platform, NAI gives Harper the ability to help his clients with needs both inside and outside Metro Phoenix.
Harper joins NAI Horizon after three years at Phoenix West Commercial where he focused primarily on retail.
Matt Harper
He also negotiated land, office, and industrial deals. Harper previously worked at West USA Premier Properties from 2007-2010.
“I am very excited about adding Matt to our team”, said Terry Martin-Denning, President and CEO of NAI Horizon. “His work ethic, energy, and client-focused, collaborative nature are a perfect fit for our firm.”
Harper holds the prestigious designation of Certified Commercial Investment Member (CCIM). He is a member of the National Association of Realtors and earned his Arizona State Real Estate license in 2007.
A native of Flagstaff, Ariz., Harper is a graduate of Northern Arizona University. He earned both a bachelor’s degree (criminal justice and sociology) and a master’s degree (school counseling). Harper spent time overseas working for the U.S. Department of Defense as a school guidance counselor in Japan and South Korea.
Harper was a hockey player and has been officiating the sport for more than 15 years. He is a member of USA Hockey.
by Peter Madrid | Jun 8, 2017 | News & Updates
PHOENIX, ARIZONA (June 8, 2017): NAI Horizon Senior Vice President Rick Foss represented the seller and the buyer in the $965,000 industrial property acquisition at 5230 S. 39th St., in Phoenix.
The seller was DJA Fiorano Holdings, LLC of Scottsdale, Ariz. The buyer was McDowell Sonoran Holdings, LLC.
“The buyer, Stone Tool Supply, intends to occupy the property once renovations are completed,” Foss said. “The facility will be utilized as the showroom/will call of their products as well as their operations and product distribution center.”
The buyer of the 10,054-square-foot property is a tool wholesaler. The seller is the owner of the Russo and Steele Auto Auction. The freestanding building features a 7,300 SF warehouse and 2,700 SF office. It has 16-foot clear ceiling height and a 21,630 SF lot that is fenced and secured.
by Peter Madrid | Jun 5, 2017 | News & Updates
TEMPE, ARIZ. (June 5, 2017) – Dena M. Jones has been promoted to Director of Strategic Partnerships, Assistant Vice President at Fidelity National Title Agency, a national leader in title insurance and real estate services.
Jones, who celebrates her third anniversary at Fidelity National Title in October, will be responsible for strengthening the company’s relationship within the real estate community, maximizing opportunities for its largest partnerships, and growing Fidelity’s footprint through leadership, philanthropic initiatives, and community involvement.
She will work with Sharon J. Terhune, Vice President, Residential Sales Manager, and the sales team to drive sales, increase market share, and add value. Jones previously served as Assistant Vice President, Sales Executive.
“Dena is a leader in the industry. We are thrilled to have her in this new role,” Terhune said. “She will help our company and our partners in her new position achieve revenue, retention, and growth goals.”
“Our executive team believes that having Dena on board truly makes our company better. I love Dena’s energy, keen business sense and dynamic personality along with her caring nature for her colleagues and clients,” Terhune said.
Jones is active in numerous industry groups. She is on the Board of Directors for Valley Partnership, a commercial real estate industry group that represents the development community. She is also involved with the SouthEast Valley Association of REALTORS (SEVRAR), the Phoenix Association of REALTORS (PAR), the Scottsdale Arizona Association of REALTORS (SAAR), and the Arizona Real Estate Investors Association (AZREIA).
She is on the Board of Directors for the Care Fund. Launched in 2010 by the “homeownership industry,” the Apollo Foundation, dba Care Fund, is a critical part of Arizona’s family support network. It works with hospitals, case workers, and the health and welfare communities. Jones has served in a leadership capacity with the Care Fund for three years.
Jones is Valley Partnership’s Board of Directors liaison for its community project, which is the legacy arm of the organization. She has been involved with leadership on the community project for six years. More than $1.2 million has been raised for the community project during her leadership role at Valley Partnership. She is also involved with the Scottsdale Active 20/30 Club, which sponsors Brokers for Kids, Agents Benefiting Children, and NiteFlite. All are fundraisers.
Jones has been in the real estate industry for more than 13 years as a third-generation real estate professional. She majored in journalism at Arizona State University.
A native of Phoenix, Jones is co-authoring a cookbook titled “To Taste” with her mother.
by Peter Madrid | Jun 5, 2017 | News & Updates
PHOENIX, ARIZONA (June 5, 2017): NAI Horizon Senior Vice President Denise Nunez represented the buyer in the $2.775 million investment property acquisition
of Tucson Self Storage at 6459 E. Golf Links Rd., in Tucson, Ariz.
Nunez represented Western Tucson LLC in the transaction. Built in 1976, the property sits on 2.53 acres and totals 47,400 net rentable square feet ($58.54/SF). There are 584 units ranging in size from 5×5 to 10×30. Tucson Self Storage has 60 feet of frontage road on Golf Links Road with a traffic count of 46,000 vehicles daily.
“This is the deal that so many are looking for in a market environment where self-storage acquisition opportunities in Arizona are very thin,” Nunez said. “The property is well built and well located on a heavily-traveled street.
“With some physical and operational updates the buyer expects to quickly capitalize on an under-performing property. The property was sold at a 6.1 cap rate based on 39 percent economic vacancy,” Nunez said.
The seller was T/F Limited Partnership, LLLP.
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.
