by Peter Madrid | Jan 2, 2024 | News & Updates
TUCSON, ARIZ. (Jan. 10, 2024) – TREND Report is pleased to announce the recipients of the 2023 Best-in-Class Broker® Awards for the second year, recognizing professionals who perform at the highest levels in commercial real estate sales in each category.
RED Comps’ research team verifies and records all commercial real estate sales in Pima County. From that information, TREND Report can present the “no-nonsense” Best-in-Class Broker Awards to those individual brokers who closed the highest overall transaction sales volume in commercial property sales for each market category each year. This year’s awards were calculated from Q4, 2022, to Q3, 2023, for a full year of sales.
Deal volume amounted to just over $1.8 billion for the period. The highest dollar volume was for multifamily, which achieved $515 million – a slump of 60 percent YOY. Only 659 commercial properties were traded during this period – the fewest since 2013, when RED Comps began tracking. Retail sales brought in the second highest volume, scoring $308 million, down by 56 precent YOY.
There’s little doubt that commercial real estate saw many hurdles in 2023, making data-powered information more essential than ever to investors and broker. Winners of the exclusive Best- in-Class Broker Awards represented approximately 20 percent of the total commercial sales this year.
Among the winners are representatives from national real estate powerhouses such as Marcus & Millichap, Land Advisors Organization, Cushman & Wakefield, and top brokers from local firms in Southern Arizona. All winners must be based in Southern Arizona. A Best-in-Class Award for “Good Works” in the Community was added.
TREND Report’s Best-in-Class Brokers for 2023 are:
- Multifamily Sales (100+ units apartments):Clint Wadlund and Hamid Panahi of Marcus & Millichap (IPA), second year;
- Multifamily Sales (less than 100 units apartments): Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR, second year;
- Industrial Sales:Stephen Cohen of Cushman & Wakefield | PICOR;
- Office Sales:David Volk of VOLK Company;
- Retail Sales:John Yarborough and David Carroll of Romano Real Estate;
- Residential Land Sales: Will White and John Carroll of Land Advisors Organization, second year;
- Industrial Land Sales:Gary Emerson of GRE Partners;
- Commercial Land Sales:Pat Welchert, SIOR, of Alpha Commercial Real Estate Services
- Hotel Sales:Rob Lamb of Long Realty;
- “Good Works” Developer:Humberto S Lopez, Co-Founder of HSL Properties.
All TREND Report’s Best-in-Class Broker Awards are based exclusively on sales volume transaction data from the RED Comps commercial real estate database, the most accurate, independently researched database of commercial real estate property sales information.
The “Good Works” Developer Award was based on the most generous acts of time and money to the community.
The winners will be honored at a Tucson-style happy hour and can use the Best-in-Class logo in future correspondence.
###
by Peter Madrid | Dec 27, 2023 | News & Updates
MESA, ARIZ. (Dec. 27, 2023) – In its inaugural year, Streamline Capital Group witnessed remarkable growth and achievement. Following its initial startup phase earlier in the year, it successfully acquired approximately $9 million worth of real estate, encompassing nearly 60,000 SF.
“This success allowed us to forge new connections with investors both locally and nationwide,” said CEO David Hrizak. “The positive word of mouth about our endeavors resulted in more than $2.5 million being entrusted into our investments.”
Streamline Capital Group, a trio of professionals with the expertise and experience to find, finance, and manage properties, is now poised for an ambitious 2024.
Its three entities – Streamline Capital Group, Streamline Development, and Streamline Asset Management – will rebrand as The Streamline Companies. Also in 2024, the firm will launch its first general fund tailored for accredited investors. This initiative aims to pool together a larger set of resources, providing enhanced opportunities for its clients. On Jan. 8 the fund will launch with the goal of raising $15 million to acquire five to six additional properties.
“We are excited to announce Streamline Investment Group III. This Real Estate Fund will give the us the buying power to acquire multiple investment properties in 2024 thereby offering our investors greater opportunities and diversification,” Hrizak said.
In June, Streamline Capital Group closed its first deal, a 39,000 SF multi-tenant asset in the “Arcadia Lite” Neighborhood. It purchased the former Camelhead Business Center at 2600 N. 44th St., in Phoenix for $5 million. The asset is being rebranded as The Grand on 44th.
The Grand on 44th features two structures: Building A is +/- 9,173 SF; Building B is +/- 30,199 SF. The site is zoned R-5, providing flexibility for the 1.61-acre parcel. Its centralized location provides exceptional access to Phoenix Sky Harbor International Airport, the Loop 202, Interstate 10, and SR 143 and is conveniently accessible from the core of Phoenix, Tempe and Scottsdale.
Renovated office suite at 2600 N. 44th St., in Phoenix
More than $750,000 of capital improvements have been invested in The Grand on 44th since the acquisition. The exterior has a new look with remodeled landscaping, color scheme, and marquee signage coming soon. Upgrades to the mechanical and lighting systems will improve energy efficiency and vacant units have been updated as spec units and are move-in ready.
The second capital raise, Streamline Investment Group II, LLC, which took only two weeks to complete, will be utilized to acquire the property at 1234 S. Power Road in Mesa, Arizona. The asset is an 18,000 SF, two-story office building. It features a mixed group of medical and professional services tenants.
“We couldn’t have made it this far if not for the collaboration with a local bank, Republic Bank of Arizona,” Hrizak said. “In a climate where financing has been difficult, they have been with us all the way.”
The firm’s other principals, Frank Stirpe and Scott Roney, bring diversity to the group with legal, operations, project management and marketing proficiencies.
Stirpe excels in the fields of business, large-scale organizational operations, and education. His innovative leadership propelled him to rapid advancement in the fields of educational operations and business. He brings to the firm a wealth of experience in marketing, operations, and project management.
Roney possesses more than 30 years of experience practicing complex business and commercial law and has held senior leadership roles in global industrial companies. He served as a corporate officer of a publicly traded Fortune 100 company.
“Our core mission is to leverage the power of vertical integration across our three entities, providing unmatched service across all aspects of the real estate industry. Whether a client’s needs lie in construction and development, real estate investments, or asset management, Streamline Capital Group is committed to addressing them comprehensively, delivering results while optimizing cost-efficiency and profit generation, all within specified timelines,” Hrizak said.
In 2001, Hrizak formed Burzak Investment Group, Inc., with the goal of locating and identifying real estate development opportunities, either as ground-up development or redevelopment of existing properties. He directed the company’s successful participation in the office, industrial, medical, retail, and residential sectors. Investments included buy, build, and hold-for-cash flow and buy, build, and sell projects.
In 2010 Hrizak founded general contracting firm Streamline Construction & Development Corp. Burzak and Streamline Construction & Development together have facilitated and executed investments totaling more than $100 million.
Streamline Capital Group also made it a priority to give back to the community. This holiday season it chose to support the Superstition Community Food Bank in Apache Junction.
“Thank you for being an outstanding group of individuals. We and I appreciate your dedication to business development and your power in the philanthropy world,” said Lynn Hanson, Board President of the Superstition Community Food Bank.
For more information visit streamlinecapitalgroup.net.
###
The Grand on 44th, 2600 N. 44th St., in Phoenix
by Peter Madrid | Dec 18, 2023 | News & Updates
PHOENIX, ARIZONA (December 18, 2023) –The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, partnered again this semester with Junior Achievement of Arizona to teach a course entitled Real Estate Development and the Built Environment to students at GateWay Early College High School.
During the six-week program, volunteers from NAIOP Arizona taught students the basics of commercial real estate development, including different building types, entitlements, and zoning, financing a project, putting together a team, and finding tenants.
NAIOP volunteer instructors included Rodney Boden and Alex Boles, ViaWest Group; Eric Whitehurst, Kimley-Horn; Chad Schleicher, City of Tempe; David Kinney, Raintree Capital; Lucy Ray, Western Alliance Bank; Gonzo Gonzalez, Keeley Construction; Vicente Ruiz, Trammell Crow Company; Stirling Pascal, Stream Realty; and Jennifer Villalobos, Cushman & Wakefield.
“Each semester our partnership with Junior Achievement and GateWay Early College High School becomes stronger,” said Suzanne Kinney, President and CEO of NAIOP Arizona. “We are honored to be able to offer this curriculum to students who may become future commercial real estate professionals.”
The program culminated with a student competition on Dec. 6. Four teams presented their projects to a group of five NAIOP volunteers who evaluated the projects from the perspective of potential investors. Serving as judges were Eric Whitehurst, Kimley-Horn; Gonzo Gonzalez, Keeley Construction; Stirling Pascal, Stream Realty; Jennifer Villalobos, Cushman & Wakefield; and Danny Swancey, ViaWest Group.
“It was great to hear my students preparing for their presentations and to listen in on their amazing conversations about the buildings. Some students talked about how long it would take to build these buildings. Some talked about the location of these buildings and why they would put them in by certain businesses. They started paying attention to details about their buildings such as parking and window coverings,” said Darnetta Fair, teacher at GateWay Early College High School. “These students were owning this project! That is when I realized what an impact this learning and Junior Achievement has had on my students. They were exposed to careers and other learning objectives that they otherwise might not have been able to take part of.”
The winning group, called Skyline Offices, presented an employee-centric office project in Tempe. The six students in the winning group were presented with first-place certificates and Amazon gift cards.
About NAIOP
NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail, multifamily and mixed-use real estate. NAIOP comprises 20,000 members in North America. The Arizona Chapter is among the largest in the bi-national network with over 1,000 members and is among the largest in the 50+ network. For more information, visit naiop.org or naiopaz.org.
###
by Peter Madrid | Dec 14, 2023 | News & Updates
PHOENIX, ARIZONA (Dec. 13, 2023) – Now in its 12th year, NAIOP Arizona’s Developing Leaders Young Professionals Group (YPG) mentorship program graduated 20 protégés.
Mentors and protégés of the 2023 class gathered Dec. 7, at the Phoenix Country Club for a reception, presentations, and dinner. The 20 protégés, grouped into five teams, each pitched a development proposal for a site located at Pima Road and Princess Drive near TPC Scottsdale to a potential equity partner.
As part of their equity partner’s review of the development proposals, presentations were judged by the projects’ ability to provide the highest and best use of the site while generating a positive yet realistic projected return on investment.
Chris Beall, Stream Realty, and Josh Schifferer, GO Industrial served as 2023 program chairs. “The YPG program gives Developing Leaders across all trades the ability to experience what goes into getting a development out of the ground while networking with peers and industry leaders,” Beall said.
This year’s winner was Perimeter Center, an industrial park. Team members included Hunter Fadynich, CHASSE Building Team; Casey Koziol, Colliers; Dylan Whitwer, NAI Horizon; and Chase Woosley, Cotton Architecture + Design. The team was led by mentor Alex Boles of ViaWest Group.
“I’m extremely impressed by my group in this year’s YPG program. A diverse group of young professionals came together and learned about real estate development in an accelerated program and they crushed it. There’s nothing easy about the requirements of this program, however, the team pushed themselves to learn, adapt, and analyze a development deal and I’m very proud of their work and final presentation,” Boles said.
Additional mentors for this year’s class were Brandon Dillingham, Hines; Kevin Miller, Kitchell Development Company; Alicia Saxby, Prologis; and Andy Snedeker, Suntec Concrete.
Other program graduates included:
Team Dillingham: Stephanie Oleska, SmithGroup; Danny Schuster, Colliers; Violet Thornton; Kitchell Development Company; Lorraine Urie, HomeGuard Exterior Construction Services.
Team Miller: Patrick Bush, Langan; Nick Salzle, Tramell Crow Company; Matt Terpstra, Bellwether Enterprises; Jennifer Villalobos, Cushman & Wakefield.
Team Saxby: Han Han, Irwin G. Pasternack, AIA + Associates, PC; Jake McClaughry, Western Retail Advisors; Bryce Quigley, Kimley-Horn; Ian Wright, Wespac Construction.
Team Snedeker: Pruthvi Akarapu, GCON; Christian Crandell, Jokake Construction; Blake Peters, Lee & Associates Arizona; Chukwuemeka (Emeka) Ukaga; Michael Baker International.
About NAIOP
NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail, multifamily and mixed-use real estate. NAIOP comprises 20,000 members in North America. The Arizona Chapter is among the largest in the bi-national network with over 1,000 members and is among the largest in the 50+ network. For more information, visit naiop.org or naiopaz.org.
###
by Peter Madrid | Dec 14, 2023 | News & Updates
PHOENIX, ARIZONA (Dec. 14, 2023) – NAI Horizon continues its strategic growth, hiring its newest marketing team member, Cecelia Martinez, as Marketing Specialist.
Martinez is responsible for creating and updating marketing materials and e-blasts, creating property offering memorandums and marketing packages, and proposals for new businesses. She has experience with research, communication, photography, and marketing.
“Cecelia brings experience with all aspects of commercial property marketing,” said NAI Horizon CEO/Designated Broker Terry Martin-Denning. “Adding a team member with that background will be invaluable to our agents and their clients.”
Martinez has worked in commercial real estate marketing and graphic design for the past eight years. She was the Senior Graphic Designer with Capital Asset Management (CAM) for 2½ years.
Prior to joining CAM, she was part of ZELL Commercial Real Estate Services, which CAM acquired in late 2021. During her 2½ years at CAM, she drove the marketing efforts for the brokerage team and property managers.
A native of Phoenix, Martinez enjoys photography, going to movies, reading, and spending time with family and her dogs Pepper and Rooni. She holds an associate degree in visual communication from Collins College.
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices in Phoenix and Tucson. NAI Horizon is passionate about commercial real estate, providing Brokerage and Property Management Services for local, national, and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to more than 325 offices worldwide. For more information, visit www.naihorizon.com.
About NAI Global
Advisory Services, Leasing, Property Management, Property & Note Sales, and Tenant Representation
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 325 offices strategically located in 65 countries throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,800 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com.
###
by Peter Madrid | Dec 14, 2023 | News & Updates
Scottsdale, Ariz. (Dec. 14, 2023) –Exceptional Healthcare completed the purchase of 10 acres in Eloy, Arizona, and plans to build a new hospital to serve the growing communities of Eloy, Arizona City, Coolidge, and Casa Grande. The area has doubled its population since 2000 and continues to experience rapid growth.
The planned new hospital, which will be located at the northeast corner of Interstate 10 and Sunshine Boulevard in Eloy, Arizona, will have eight inpatient rooms, an 11-room emergency department, and a wide range of medical services, all aimed at meeting the healthcare needs of Eloy’s residents and the surrounding communities.
Saeed Mahboubi, CEO & Founder of Exceptional Healthcare, expressed his enthusiasm for the project saying, “We are thrilled to bring Exceptional Community Hospital to the City of Eloy. Our mission has always been to deliver exceptional care to our patients, and with this new facility, we are one step closer to making that vision a reality for the people of Eloy and the neighboring areas. We are committed to providing high-quality medical services that prioritize the well-being of our patients.”
Land Advisors Organization Pinal County Specialists Kirk McCarville, CCIM, and Trey Davis facilitated the $1.31 million transaction on behalf of the seller, Walton International Group, to Exceptional Healthcare. The subject land is shovel-ready and includes I-10 frontage road access. A groundbreaking ceremony for the new hospital will be held on Wednesday, January 24, with a planned opening date in late 2024.
“Exceptional Healthcare has extensive experience developing hospital campuses across the state of Arizona and recognized the growing healthcare needs of the area,” said McCarville. “Being able to facilitate the sale of this shovel-ready land for such an important community use has been very rewarding. The city of Eloy’s economic development department worked diligently to bring in a great partner with Exceptional Healthcare and ensure our community gains this much-needed asset.”
Exceptional Healthcare operates hospitals in Arizona and Texas with additional facilities opening in Oklahoma, and New Mexico.
Over the past several years, Casa Grande has received significant attention at the national and international levels with announcements by major manufacturers expanding or relocating to the market. Land Advisors Organization has facilitated bringing many companies and numerous new jobs to the area, including Lucid Motors, Kohler, Chang Chun Chemical, and Air Products. There continues to be tremendous interest from manufacturers, semiconductor supply chain and electric vehicle manufacturer suppliers to the area.
About Exceptional Healthcare
Exceptional Healthcare is dedicated to providing high-quality medical services to communities across the United States. With a focus on patient care, cutting-edge technology, and compassionate healthcare professionals, Exceptional Healthcare is committed to delivering exceptional results in healthcare.
About Land Advisors Organization
Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville and San Diego, California; Orlando, Jacksonville and Tampa Bay, Florida; Atlanta, Georgia; Charlotte, North Carolina; Greenville, South Carolina; Nashville, Tennessee; Boise, Idaho; Las Vegas, Nevada; Albuquerque, New Mexico; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah; Kansas City, Kansas; and Seattle, Washington. Stay connected with Land Advisors Organization on Twitter, Facebook and LinkedIn.
# # #
by Peter Madrid | Dec 13, 2023 | News & Updates
PHOENIX, ARIZONA (Dec. 13, 2023) – The Greater Phoenix Chapter of the Institute of Real Estate Management (IREM®), an international community of real estate managers dedicated to ethical business practices, has announced its 2024 Board of Directors and Advisory Council.
The 2024 Board of Directors comprises President, Carrie Temple, CPM®, ViaWest Group; President-Elect, Tom Coughlin, CPM®, Stream Realty Partners; Secretary/Treasurer, Lauren Lacasse, CPM®, Sagard Real Estate; Director, Debbie Mitten, CPM®, ViaWest Group, and Past-President, Ed Valerio, CPM®, Link Logistics.
The Advisory Council includes Ann Boomsma, CPM®, MEB Management Services, AMO®; Yvonne Cisman, CPM®, ARM®, Wasatch; Kristin Gibbons, CPM®, Kidder Mathews; Kelsey Huggins, CPM®, Orion Office REIT; Danielle Jones, CPM®, Texas Capital Partners; Emily Mehta, CPM®, Shorenstein Realty Services; and Jonathan Yee, CPM®, Vestar.
“As we welcome in our 60th year as an IREM Chapter, I am honored to be a part of such a forward-thinking, education-centric organization that invests in its members,” Temple said. “We are grateful to our industry partners who are engaged and are instrumental in our ability to bring programs to our members. In addition, our committees are led by top industry leaders who will take the organization to a new level and help IREM achieve its goals in the upcoming year and going forward.”
The IREM Greater Phoenix Chapter completed a successful 2023, with numerous accomplishments to its credit. They include:
- 49 new members (7 CPM®, 1 ARM®, 3 ACoM®, 20 candidates, 12 associates and 6 students;
- 24 scholarships awarded from the IREM Foundation;
- $8,000 raised for UMOM New Day Centers by the IREM/RestorationHQ Golf Tournament;
- 16 networking events, including the 2023 IREM/CCIM/Next Protection Economic Forecast.
“This past year has been no different than any other because IREM has always had great industry leaders running this organization, and we will continue to do so in the foreseeable future,” Valerio said. “It’s the extra effort and sincere desire for everyone on our Board to make the next year just slightly better than the year before, and that has helped us grow into an effective and valued professional management organization.”
The 2024 IREM/CCIM/Next Protection Economic Forecast is scheduled for Jan. 18 at the JW Marriott Camelback Inn Resort, 5402 E. Lincoln Dr., in Scottsdale. Registration is now open.
IREM memberships empower college students, young professionals and industry veterans who are committed to career advancement. IREM certifications CPM®, ARM®, ACoM®, and AMO® demonstrate a commitment to good management. These certifications, along with its courses and an array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage.
About Institute of Real Estate Management (IREM®)
We’re an international institute for property and asset managers, providing complete knowledge to take on real estate management’s most dynamic challenges. That means knowledge prepared for the day-to-day and the one-of-a-kind: from solving the latest tenant crisis to analyzing market conditions.
For 90 years, our members have made us the world’s strongest voice for all things real estate management. Today, almost 20,000 leaders in commercial and residential management call this home for learning, certifications, and networking.
We believe in our people, and we provide the tools they need to succeed. We open doors, we forge connections, and we help show the way forward. Backed by the power that comes with being an affiliate of the National Association of REALTORS®, we add value to our members, who in turn add value to their teams, their workplaces, and the properties in their commercial and residential portfolios. Our memberships empower college students, young professionals, and industry veterans who are committed to career advancement. Earning our certifications, including the CPM®, ARM®, ACoM®, and AMO®, demonstrates a commitment to, and passion for, good management. These credentials, along with our courses and array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage.
Learn more about us at irem.org or the Greater Phoenix Chapter at iremphx.org.
###
by Peter Madrid | Dec 12, 2023 | News & Updates
PHOENIX, ARIZ. (Dec. 12, 2023) – Reimagining office properties. A perspective on parking. Housing affordability and homelessness. Powering Arizona’s future. The industrial market.
Those are just a few of the deep-dive topics to be discussed as ULI Arizona presents its 19th Annual Trends Day March 5 at the JW Marriott Desert Ridge Resort & Spa. Trends Day brings together more than 30 top industry experts to discuss the most current state and national real estate trends.
“Trends Day is truly a ‘who’s who’ of the development industry in the Southwest, in both speakers and attendees,” said Deb Sydenham, FAICP, Executive Director, ULI Arizona District Council. “The Trends Committee, under the leadership of Keyvan Ghahreman, Director of Operations, Willmeng, has curated a compelling host of topics that will provide solid take-home value to the audience.”
ULI Arizona’s Trends Day is recognized as the third-largest ULI program globally.
Trends Day 2024 kicks off with the annual economic outlook, delivered this year by Peter Ricchiuti, Director, Burkenroad Reports, Senior Professor of Practice, A.B. Freeman School of Business at Tulane University.
The economic outlook launches Trends Day with a high-level look at macroeconomic trends in the U.S. economy and around the globe. Through an engaging presentation, Ricchiuti will offer the outlook for commercial real estate, especially as it pertains to the continued long-term ramifications of the pandemic, including the future of work and challenges related to economic growth.
The topic of the Trends Day Debate will be: “Can Urban and Rural Development Patterns Co-Exist in a Water Competitive Environment?” Arizona’s growing economy brings increasing pressure on the state’s limited water supplies and creates tensions between urban and rural communities.
These tensions are manifested through the conflicting enforcement of the 100-year assured water supply requirements of the Arizona Groundwater Management Act, policy and funding choices for additional water resources, and conversions of agricultural uses to municipal uses. The debate will focus on policy choices between urban and rural interests and explore areas where both interests can be positively advanced.
The debate will be moderated by Nina Mullins, Senior Director of Land and Papago Park Center, Salt River Project. Urban panelists include Grady Gammage, Jr., Partner, Gammage & Burnham; and Sarah Porter, Director, Kyl Center for Water Policy, Morrison Institute for Public Policy, Arizona State University.
Rural panelists include Eric Orsborn, Mayor, City of Buckeye; and Chip Sherrill,Managing Partner, 4-B Farms; Chairman, Mohave Valley Irrigation and Drainage District.
The Trends Day 2024 Keynote Speaker will be Leon Logothetis, global adventurer, author, and creator of the book and Netflix series “The Kindness Diaries.” His topic will be Go Be Brave: Becoming Fearless, Wiser and Truly Magnificent.”
Logothetis is a modern-day explorer of human connection, renowned for his captivating journeys that blend adventures with a profound social mission. With a spirit fueled by empathy and a genuine curiosity about the human experience, Leon has embarked on remarkable expeditions across the globe, relying solely on the kindness of strangers for his survival. Through his travels, speaking engagements, and impactful documentaries, he has become a powerful advocate for the idea that the world’s most valuable currency is not money, but the compassion and connections we share with one another.
Early pricing until Dec. 22: private, $325 member; $425 non-member; public/academic/non-profit, $225 member, $325 non-member; retired $225 member; student, $120 member, $175 non-member; and under 35, $225 member, $425 non-member.
Standard pricing until Feb. 23: private, $425 member; $525 non-member; public/academic/non-profit, $300 member; $400 non-member; retired $300 member; student, $195 member, $250 non-member; and under 35, $300 member, $525 non-member.
Trends Day 2024 runs from 7 a.m. to 5 p.m. The JW Marriott Desert Ridge Resort & Spa is located at 5350 E. Marriott Drive in Phoenix. Register here.
About ULI
The Urban Land Institute is a 501[c][3] nonprofit research and education organization supported by its members. Founded in 1936, the Institute has more than 45,000 members worldwide, representing the entire spectrum of land use and real estate development disciplines working in private enterprise and public service. As the preeminent multidisciplinary land use and real estate forum, ULI facilitates an open exchange of ideas, information, and experience among local, national, and international industry leaders and policy makers dedicated to creating better places. Learn more about ULI Arizona at arizona.uli.org.
###
by Peter Madrid | Dec 12, 2023 | News & Updates
PHOENIX, ARIZONA (Dec. 12, 2023) – Four parcels of land and a retail building at a Phoenix mall totaling $14.8 million highlight recent deals closed by NAI Horizon professionals. The building alone fetched $7.13 million.
Sales Transactions:
Jeffrey Garza Walker negotiated the sale of a 120,000 SF retail building for $7.13 million, representing the buyer, Club Capri Real Estate, LLC. The property is located at 7611 W. Thomas Road, Phoenix, AZ. The seller, Seritage SRC Finance, LLC, was represented by Trent Steeves with CBRE.
Matt Harper, CCIM, negotiated the sale of 1.63 acres for $2.5 million, representing the seller, EAA Investment Group, LLC. The property is located at 8250 W. Glendale Ave., Glendale, AZ. The buyer, Ultra Clean Intermediate, LLC, was represented by Brad Ranly with Velocity.
Lane Neville and Cole Neville negotiated the sale of 4.716 acres for $2.3 million, representing the seller, Marketplace Square at Estrella, LLC. The property is located at 10047 S. Estrella Parkway, Goodyear, AZ. The buyer, Estrella Mountain Lago, LLC, was self-represented.
John Filli negotiated the sale of 112.89 acres for $2 million, representing the buyer, Royal Estates at Corrales, LLC. The property is located at NWC of Cornman & Corrales Roads, Casa Grande, AZ. The seller, James C. Soft, as personal representative of the estate of Audrey A. Hanks Irrevocable Trust, was represented by Rock Earle & Matt Herrington with Rox Commercial.
John Filli negotiated the sale of 54 acres for $864,000, representing the buyer, Royal Estates at Hanna, LLC. The property is located O Hannah Road & Palomas Drive #233, Casa Grande, AZ. The seller, Daniel L. Levine, as successor Trustee of the Lois O. Levine Trust, was represented by Annalisa Tapia, GRI, with Coldwell Banker Rox Realty.
Lease Transactions:
Thomas Bean, CCIM and Matt Harper, CCIM, represented the tenant, Keerthi Reddy Gade, Bikshma Thaikonda and Sujana Thatikonda in a 64-month retail lease for 2,472 SF at 6340 S. McClintock, Tempe, AZ. The landlord, Tempe Square Consolidation, LLC, was represented by Cliff Johnson, Kidder Mathews.
Larson Wilcke and Thomas Bean, CCIM, represented the tenant, Auto Rehab, LLC, in a 36-month industrial lease for 3,076 SF at 1725 W. Williams Drive, Phoenix, AZ. The landlord, Pegasus Deer Valley Owner, LLC, was represented by Keith Clark with Commercial Properties Inc.
Matt Harper, CCIM, represented the landlord, EEMAD, LLC, in a 39-month retail lease for 1,975 SF at 5830 N. 59th Ave., Glendale, AZ. The tenant, AKA Wireless, Inc., was represented by Jake McClaughry with Western Retail Advisors, LLC.
Matt Harper, CCIM, represented the landlord, HBR Properties, LLC, in a 36-month retail lease for 792 SF at 3825 N. 75th Ave., Phoenix, AZ. The tenant, Fernando R. Fernandez was self-represented.
Matt Harper, CCIM, represented the landlord, 1241 E. Broadway Plaza, LLC, in a 36-month retail lease for 3,640 SF at 1241 E. Broadway, Mesa, AZ. The tenant, El Venue, LLC, was self-represented.
Thomas Bean, CCIM, and Matt Harper, CCIM, represented the tenant, Johns & Johns, PLLC, in a 26-month office lease for 1,509 SF at 3200 N. Hayden Road, Scottsdale, AZ. The landlord, Petwin 3220 Hayden Corp., was represented by Keri Davies and Jason Reddington with LevRose.
Thomas Bean, CCIM, and Matt Harper, CCIM, represented the landlord, Sun City Professional Building, in a 12-month office lease for 319 SF at 12630 N. 103rd Ave., Sun City, AZ. The tenant, Roto Rooter Services Company, was self-represented.
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices in Phoenix and Tucson. NAI Horizon is passionate about commercial real estate, providing Brokerage and Property Management Services for local, national, and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to more than 325 offices worldwide. For more information, visit www.naihorizon.com.
About NAI Global
Advisory Services, Leasing, Property Management, Property & Note Sales, and Tenant Representation
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 325 offices strategically located in 65 countries throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,800 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com.
###
by Peter Madrid | Dec 7, 2023 | News & Updates
Scottsdale, Ariz. (December 7, 2023) — Martens Development Company (MDC) announces the beginning of construction of its 20-acre Park 91, a new 278,000 SF Class A industrial development, located at the southwest corner of 91st Ave and Buckeye Road in Phoenix, Arizona.
The new complex is the second phase of Logic Park, a successful 739,000 sf industrial park on 44 acres, which will serve multiple tenants by offering various leasing size options.
Park 91 will include a standalone 102,000 SF building and a second standalone 176,000 SF building which are capable of serving tenants ranging in size from 20,000 to 175,000 SF with its new Southwest Valley facilities. Construction is expected to complete in late 2024.
“We’re thrilled to announce the completion of financing and start of construction for the Park 91 industrial complex,” said David Martens, principal with MDC. “Our goal is to deliver space that meets the needs of the submarket, for both single and multi-tenant occupants. This is a vibrant area that is experiencing significant economic development and we’re pleased to be bringing new industrial space to accommodate the area’s growing demand.”
MDC aligned with private lender Trez Capital for the construction financing on Park 91. Trez Capital provides private financing to property developers for a variety of purposes including acquisition, refinancing, horizontal development, vertical development, land banking/lot banking and bridge financing on property deemed suitable to its investment strategy.
“We are excited to work with such an experienced developer and to have this opportunity to expand our footprint in the Phoenix market,” said Jason Stowe, vice president of origination at Trez Capital.
“Our ability to help secure a strategic lender for MDC is a true testament to their experience and the solid investment fundamentals that exist within the West Valley,” said Roman Nelson of CapMatrix, whose team served as strategic capital advisor on the transaction.
The project’s architect is Ware Malcomb and Wespac is the general contractor. Kimley-Horn is serving as the project engineer, and leasing is being handled by Gary Anderson at Cushman & Wakefield.
“We are very proud to represent MDC as the leasing team at Park 91 and helping to fill this market’s demand for quality industrial space. We look forward to a very successful endeavor,” said Anderson.
The MDC team has a proven track record of developing Class-A warehouse and distribution developments throughout the Phoenix MSA. MDC has over 47 years of development experience, delivering more than 4.5 MSF of industrial space within the last five years within the Phoenix MSA. Park 91 is congruent with MDC’s industry-leading strategic planning for the Phoenix market’s industrial needs.
About Martens Development Company
MDC is a real estate investment firm based in Scottsdale, Arizona, which focuses on investment opportunities in the Southern United States. Founded in 1994, MDC, formerly known as Marwest, has been advising capital sources on development and value-add opportunities on behalf of their clients by providing unbiased analysis and a comprehensive real estate management solution to projects in the region. For more information about Park 91 visit: http://park91.com
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity financing solutions across North America. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndications, and joint-ventures; and provides property developers with quick approvals on flexible short- to mid-term financing.
With offices across North America, Trez Corporate Group has over CAD $5.3* billion in assets under management and has funded over 1,700 transactions totaling more than $17.5 billion CAD since its inception. The Dallas office has funded more than $6.2 billion in loans.
(*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $3.0 billion Manager AUM (Trez Capital Fund Management Limited Partnership)).
