PHOENIX, ARIZONA (August 16, 2018) – NAI Horizon Senior Vice President Denise Nunez represented the seller in negotiating the $7.15 million acquisition of Continental Ranch Self Storage in Tucson, Arizona. Nunez also secured the buyer in the transaction.
Nunez represented LPG Associates of Rohnert Park, Calif., in the sale of facility at 5650 W. Coca Cola Place, Tucson. The buyer was Baron Properties of Denver, Colorado.
“This acquisition represents the first self storage facility in Arizona for Baron Properties,” Nunez said. “With very few self-storage acquisition opportunities in Arizona, this asset drew national attention from numerous buyers and moved quickly to contract.”
Continental Ranch Self Storage totals 99,810 net rentable square feet and 736 units. It is located off of I-10 and Cortaro Farms Road, adjacent to the Arizona Pavilions shopping center. It is set off of the frontage road with access to I-10 from both Cortaro Farms and Ina roads.
Baron Properties has engaged Extra Space Storage as a third party management company to operate the facility. Extra Space Storage is a Real Estate Investment Trust (REIT) that currently manages more than 200 joint venture locations and almost 900 wholly-owned locations for a total of approximately 1,600 stores.
Nunez specializes in the self-storage market, offering localized expertise in Arizona and throughout the U.S.
PHOENIX ARIZONA (August 15, 2018) – True Metal Solutions, LLC, (TMS) a locally-established firm, is celebrating 5 years of providing exterior building cladding and thermal/moisture protection services to its clients in the Southwest.
Founded by Owners and Managing Partners Mark Dillard and Eric Stiller, TMS specializes in a diverse array of exterior building cladding skin systems including metal wall panels, perforated panel systems, plate systems, insulated wall/roof panels, soffit panels, and fiber cement cladding.
TMS designs, prices, and fabricates 99 percent of its products in its 16,000 SF warehouse. It self-performs 100 percent of its installations.
Grand Canyon University office building, 27th Avenue, Phoenix
“We are eternally grateful to the employees of TMS who have been with us since the beginning,” Dillard said. “We are also grateful to our new employees. They are making a difference. They have helped us be the company we have become. Human capital is the greatest asset we have and will have moving forward.”
TMS boasts a staff more than 70 employees and is located in central Phoenix just south of Phoenix Sky Harbor International Airport. It offers pre-construction, engineering, shop fabrication, field project management and installation, and sales. TMS also offers Building Information Modeling (BIM) services through its Virtual Design Department.
On average, TMS has completed approximately 60 projects a year with an average project cost of $350,000.
“Our greatest accomplishment is the culture within the company we have built,” Stiller said. “Year over year we have provided a place for people to not just have a job, but to build a career and take care of their families. Culture is also our biggest challenge. It’s not easy today to find people who are a cultural fit but we are making great progress and having fun doing it.”
TMS projects include Grand Canyon University; Northern Arizona University – SAS Student Service Center; ViaSat, Inc. (Tempe); the Sun Devil Stadium renovation project; Arizona State University Haydon Library; Mirabella at ASU; Park Central Mall renovations; the Maricopa County Intake, Transfer, and Release Facility/Detention Facility; and the University of Arizona ACC Honors Complex.
Dillard serves on multiple board in the general contracting community and is active with the Arizona Builders Alliance. During his 30-year career he has led teams in the development and fulfillment of comprehensive, multi-year local and national projects for commercial and government customers.
“I have many industry affiliations that have been a significant source of support,” Dillard said. “I am grateful and thankful for those groups that reached out in the spirit of teamwork to help us build the company we are today.”
Stiller possesses an exemplary background in engineering. During his 30-year career he has led teams of up to 250 in the execution of complex, multi-state projects ranging in size from $1 million to $100 million for public and private commercial clients.
“We adhere to five core values that help us connect with the core values of our external customers, including general contractors and architects,” Stiller said. “Very often in our proposals and bids we take the opportunity to connect not just to the projects but to their core values as well. That’s a big deal for us.”
For more information, visit truemetalsolutions.com.
ViaSat at Arizona State University Research Park, Tempe
PHOENIX, ARIZONA (August 15, 2018) – NAI Horizon represented a Phoenix refrigeration company in a long-term lease worth $2.235 million at Missouri Falls, 645 E. Missouri Ave., in Phoenix. The space will serve as its administrative office.
NAI Horizon Senior Vice Presidents Barbara Lloyd and Lane Neville and Associate Logan Crum negotiated the long-term lease on behalf of Legacy Air HVAC, LLC of Phoenix, a member of the CoolSys family of companies.
The company is leasing 11,405 SF of the 187,446 SF building. It is expanding its operation from the current location at 3529 E. Wood St., in Phoenix.
“This is an exciting next chapter for Legacy Air and its employees,” Lloyd said. “The spec build of the space worked perfectly for their office layout. The close proximity to so many restaurants and amenities within walking distance was a definite draw.”
Legacy Air has been recognized nationally through certificates and awards by some of the most prestigious companies in America. It performs work in 12 states.
Missouri Falls is located in close proximity to Midtown, Camelback Corridor, and the Piestewa Peak submarkets. It is also within close proximity to SR 51 and I-17.
The landlord, ICIC Commercial Investments 3, LLC of Phoenix, was represented by Mike Strittmatter and Brad Anderson of CBRE.
PHOENIX, ARIZONA (August 14, 2018) – The importance of the relationship between Arizona and Mexico dates back to when former Gov. Paul Fannin was the state’s chief executive from 1959-1965. He proclaimed at the time that Arizona and Mexico were “neighbors for good.”
Today, Mexico is Arizona’s largest trading partner. In 2017, Arizona conducted $15.4 billion worth of business with Mexico, nearly $7.5 billion in exports and $7.9 billion in imports.
ULI Arizona’s September Main Program, “Arizona and Mexico: The Crossroads of Real Estate and Commerce,” will explore the state of real estate and commerce between Arizona and Mexico and what opportunities there are for companies and individuals in both regions.
The event is scheduled for Sept. 13 from 7:30 a.m. to 9:45 a.m. at Scottsdale Museum of the West, 3830 N. Marshall Way, Scottsdale. Member registration is $75, private; $55, public/under 35/non-profit; and $40, student. Non-member registration is $100, $75, and $60.
Moderating the event will be Juan Ciscomani, Senior Advisor for Regional & International Affairs, Office of Arizona Gov. Doug Ducey. Panelists include Jose’ Pablo Martinez Buentello, Project Manager, Skybridge Arizona; Lyman A. Daniels, SIOR, FRICS, RPA, CPM, President, CBRE; and Carolynne Hunter, Vice President of Supply Chain and Logistics, St. Clair Technologies, Inc.
Register at arizona.uli.org/event/arizona-mexico-crossroads-real-estate-commerce/
PHOENIX, ARIZONA (August 13, 2018) – It was an evening of celebration this summer as the NAIOP Arizona Developing Leaders Young Professional Group (YPG) Mentor Program hosted graduation for the 2017-2018 class at Arizona Country Club.
Mentors and protégés gathered in a private dining room for a reception, presentations, and a dinner. The 15 protégés, grouped into four teams, pitched development proposals on Packard Stadium, the SWC of Rural Road and Rio Salado Parkway in the North Tempe submarket.
Teams were matched (three mentees and one mentor) throughout the 9-month program. Teams created a development and business plan for the site. The program culminated with project presentations to equity sources, pitching them to invest in their respective deals.
JMJ Development and its Packard North deal took home first-place honors. The winning project called for 300,000 SF of Class A office with future phases for multifamily and retail.
Team members were Mollie Zemer, Barclay Group; Josh Tracy, Ryan Companies US; and James McDonald of Cresa. Their mentor was Keith Earnest of VanTrust Real Estate.
The other mentors were Molly Carson, Ryan Companies US; Cathy Thuringer, Trammell Crow Company; and Jim Wentworth, Wentworth Property Company. Event judges were Brian Kearney, Catellus Development Corp.; Ben Geelan, Holliday Fenoglio Fowler, L.P. (HFF); and Ben Baumes, Catellus Development Corp.
“This program offers a great educational opportunity for the YPG protégés through introduction to and participation in various aspects of real estate development,” Thuringer said. “Having served as a mentor for the past three years, I am a huge proponent of the program for the knowledge and exposure it affords the young professional to the complicated world of development.”
“The YPG program continues to offer one of the most practical real estate immersion programs for young professionals in the Valley,” Billy Cundiff with Hines said. “They are able to get first-hand experience and education through the case study by some of the most well-known leaders in the real estate community.”
Cundiff chaired this year’s program. The other protégés were Matt Avila, Atmosphere Commercial Interiors; Chris Beal, JLL; James Cohn, CBRE; Shane Essert, HFF; Shelby Guddeck, DLR Group; Nicole Iglehart, Newmark Knight Frank; Chelsea Porter, The Renaissance Companies; Bryan Smith, GPEC; and Brian Zurek, Transwestern.
The YPG program provides participants with access to industry leaders while taking a hands-on educational approach via case-based learning, said YPG Co-Chair Cullen Mahoney of Trammell Crow Company.
“The program is well-suited for young real estate professionals looking to strategically grow their networks while learning the development business,” Mahoney said.
Applications for the 2018-2019 NAIOP YPG Mentor Program will be available in September. All NAIOP members who are age 35 or under qualify to participate in the Developing Leaders program, whether they joined through the DL membership category or as part of a corporate membership.
PHOENIX, ARIZONA (August 13, 2018) – NAI Horizon represented the landlord in a long-term lease worth $1.92 million at Phoenix Corporate Center for medical transportation firm Veyo.
NAI Horizon Senior Vice President Tyler Smith, Vice President Troy Giammarco, and agent Joe Pequeno represented the landlord, Bay Pacific Phoenix Corporate Center LLC, an Arizona limited liability company.
“Ownership worked closely with Veyo to meet their needs,” Smith said. “We are happy to have a national tenant such as Veyo join the growing family at Corporate Center.”
Veyo is leasing 19,436 SF at Phoenix Corporate Center, 10010 N. 25th Ave., in Phoenix. NAI Horizon holds the exclusive leasing assignment for the 440,000-square-foot office complex along the reinvigorated I-17 corridor in North Phoenix.
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 currently undergoing its capital improvement program. It is ideal for national corporate back office clients. By 2023 Metro light rail will serve the area.
The tenant, Veyo, LLC, was represented by Darius Green of Keyser Company.
U.S. Rep. Martha McSally-Ariz., will join Caliber President & COO/Co-Founder Jennifer Schrader in viewing the project, assessing its economic impact
SCOTTSDALE, Ariz. (August 9, 2018) – Caliber – The Wealth Development Co., invested in the community in 2015 with the acquisition of GC Square Apartments, a completely renovated, off-campus apartment community designed for students near Grand Canyon University in Phoenix.
With a Tax Reduction Opportunity Fund in its toolkit to attract investors, Caliber is poised to continue investing in the community with additional developments.
GC Square, 3535 W. Camelback Rd., is positioned in one of Arizona’s 168 opportunity zones approved at the federal level. It’s an example of a project that can be developed in an opportunity zone.
On Wednesday, August 15, Scottsdale-based Caliber will showcase GC Square with tours of the 164-unit apartment project. U.S. Rep. Martha McSally-Ariz., running for the U.S. Senate, will join Caliber President and COO/Co-Founder Jennifer Schrader.
“This has been a project of passion to revamp this area and offer affordable, inviting housing for students and people in the community,” Schrader said.
McSally will view the project firsthand and see for herself the before and after as well as review the economic impact of jobs and pride in the community.
Opportunity Zones are a way to take advantage of a tax reduction created by the Tax Cuts and Jobs Act. The money must be invested within 180 days for it to be eligible. Investors can re-invest capital gains realized from a sale of property, stock or business to defer paying taxes.
As the area continues to grow, so does the importance and impact of GCU and other businesses. Economists report that GCU alone represents an estimated annual economic impact of more than $700 million.
Arizona had 168 opportunity zones approved at the federal level, the most allowed by the law. Notable areas that were designated include much of downtown Phoenix, areas around Sky Harbor International Airport and Old Town Scottsdale.
According to the law creating the opportunity zones, if investors keep their money in the fund for at least 10 years, there are no taxes on what was earned from the investment, only on the original capital gain used to invest in the fund. These zones represent growth where median incomes fall below the national average.
Since acquiring the circa 1972 multi-family property in December of 2015, Caliber’s repositioning of this aging asset into a first-rate community is a project in cooperation with the design team at 3rd Story Architecture. Property transformation required extensive exterior and complete interior building redevelopment.
GC Square is a mix of studio, one-bedroom, and three-bedroom apartments. Located one block from Grand Canyon University, it is a gated community with a diverse range of outdoor and indoor amenities. Community amenities include an expansive clubhouse with large screen HDTVs and a pool table, workout room, a clothing care center, business center, resort-style pool and spa, pet-friendly washing stations, BBQ gas grills, outdoor fire pit, movie theater, as well as property access control, video surveillance and alarm system.
GC Square is partially owned by the Caliber Diversified Opportunity Fund II, LP, a fund that offers accredited investors the opportunity to invest in “middle market” U.S. commercial real estate assets to build wealth through a combination of current income and capital appreciation.
TEMPE, ARIZ. (August 8, 2018) – Caliente Construction, an Arizona-based general contractor providing commercial construction services in the Western U.S. for almost 30 years, joined the City of Chandler in celebrating the completion and ribbon cutting of the $10 million Chandler Public Safety Training Center Wednesday morning.
The newly constructed 29,130 SF, two-story masonry building for the City of Chandler includes a 250-seat auditorium with wheelchair lift, lobby, elevator, classrooms, fitness room, defensive tactics room, restrooms, break room, driving and weapons simulation rooms, and locker rooms. The building sits on five acres at 3550 S. Dobson Rd.
The 250-seat auditorium at the new City of Chandler Public Safety Training Center built by Caliente Construction.
“It’s a real privilege to be able to be a part of the team that built this world-class facility for public safety, for police and fire, for the men and women who are protecting our community,” said Caliente President/CEO Lorraine Bergman. “We’re very proud we had the opportunity to do it.”
In addition, Caliente constructed administrative office and IT space, and three training prop buildings with training platforms and simulated roofs.
“This is an important day for public safety in Chandler and the whole region,” said Chandler Mayor Jay Tibshraeny. “This 29,000-square-foot facility gives us the ability to consolidate a number of functions and provide the finest training available. It will be a central East Valley public safety hub.”
Site work included excavation; drainage/retention; paving/parking; lighting; security fencing and gates; landscape and irrigation; wet and dry utility extensions and services; sidewalks; signage; and roadway modifications. A pedestrian bridge extending from the front entry to the parking lot was built over the retention area.
“The community will benefit from the fire and police departments training in this state-of-the-art building,” said Caliente Assistant Project Manager DeWayne Selvig. “This includes the firetruck driving simulator and the weapons simulator. This building will allow these public safety entities the ability to further expand their training capabilities and be more effective.”
Architect of record was MWL Architects/Richard P. Rehfeldt Architect Ltd. Notable subcontractors included Riggs Concrete, S&S Paving, Holly Steel, Danson Masonry, Star Roofing, AJP Electric, Tek Star Plumbing, JD Sun Mechanical, and Extreme Drywall.
“A project like this gives Chandler the ability to train its personnel to the best of their ability,” said Caliente Project Director Brian Lewis. “It gives that foothold for Chandler to be on the cutting edge, not just for its residents but for others as well. If a project we’ve worked on was flawless, this was it. We had great pre-planning with the City of Chandler and the design team.”
Chandler Mayor Jay Tibshraeny (center) is flanked by public safety and city officials at Wednesday’s ribbon-cutting ceremony.
PHOENIX, ARIZONA (August 6, 2018) – NAI Horizon has bolstered its industrial properties footprint with the hiring of supply-chain specialist Jay Olson, who joins the firm as an Associate.
Olson comes to NAI Horizon after 25 years as President and Director of Operations for Sun Pac International. He grew up in the manufacturing industry, working alongside his father for most of his life. His experience includes sales and manufacturing management, facilities operations and management, supply chain expertise, and research and development.
He is an industrial and manufacturing specialist at NAI Horizon. His previous experience also includes the buying and selling of industrial and manufacturing properties for his family’s business since 2001.
“Jay’s background in manufacturing allows him to add value with his unique perspective,” said Terry Martin-Denning, Principal and CEO of NAI Horizon. “He understands industrial real estate from the user and owner standpoint and also from the manufacturing and business operational aspect.”
In 1994, Olson became president of his family’s food and beverage manufacturing facility. He has served as property manager for his family’s commercial and residential property investment interests for the past 18 years.
For 6 years, Olson was a firefighter for the City of Scottsdale Fire Department. He continues to be actively involved in the community, making a difference wherever he can. His volunteer work includes youth sports and municipal endeavors.
“I’ve been fortunate to learn my skills from my entrepreneurial father,” Olson said. “I bring the work ethic that was embedded in me since childhood to my new role at NAI Horizon.”
A native of Detroit, Michigan, Olson has lived in Scottsdale, Arizona, since 1973. He is the father of a daughter 20 and a son, 17. He attended Scottsdale and Mesa community colleges.
PHOENIX, ARIZ. (July 31, 2018) – An iconic restaurant and wine bistro located in the Ocotillo community in Chandler, Arizona, is undergoing a refresh and rebrand led by a trio of Valley professionals who are bringing their vision to the project.
D-Vine Bistro & Wine Bar, 12 years ago one of the first restaurant-wine bistro “hot spots” at 3990 S. Alma School Rd., will be transformed into St. Amand Kitchen & Cocktails with a scheduled opening date of October. St. Amand is the patron saint of winemaking, beer brewing, and bartending.
The project team comprises restaurateur and owner Robert E. Coulson; Ken Morrow, One Way General Contractors; and Beth Katz, KatzDesignGroup.
“There have been a lot of dining and cocktail establishments that have come and gone over the past 12 years,” Morrow said. “D-Vine has been an area landmark and still stands. It remains strong, stays busy, but over time it is need of a complete refresh.”
A rendering of the exterior of St. Amand Kitchen & Cocktails looking into the space.
The restaurant interior will have a clean, modern cathedral style vibe, Katz said of the 4,100-SF remodel project. The KatzDesignGroup team is opening up the space to allow for a relocated larger bar, allowing more light into the space, providing a closed off private dining space for parties, and extending the patio with more shaded area.
“D-Vine has a wonderful reputation for food and atmosphere; we are just going to take it up a few aesthetic notches and create a unique vibe for every day lunch and dinner dining, and a fun date night,” Katz said. “We are rebranding St. Amand with new indoor and outdoor seating, custom tables and high-tops, and a saintly artisan mural of the man himself.”
Said Coulson, who bought the restaurant in 2010: “The community is very much aware, excited, and anticipating the new look. The transformation from D-Vine to the new and exciting St. Amand has created a buzz.
“We intend to keep the atmosphere of casual chic with a neighborhood feel. Good people and good food have been our hallmark. Our neighborhood is our home,” Coulson said.
Ramon Rice, who has been executive chef for both D-Vine Bistros in Chandler and Mesa, is driving the new menu for St. Amand.
“I brought my concept of St. Amand to Ken and Robert,” Rice said. “We knew we had what we were looking for. St. Amand is the concept that we can all rally behind and get the neighborhood excited. With some brainstorming and the great designs of Beth Katz, we are converting our old space into lively, new restaurant.”
A rendering of the bar at St. Amand Kitchen & Cocktails in Chandler.
A rendering of the seating area at the rebranded St. Amand Kitchen & Cocktails.