by Peter Madrid | Oct 13, 2022 | News & Updates
PHOENIX, ARIZ. (Oct. 13, 2022) – The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, this week kicked off the second semester of partnering 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 five-class program, volunteers from NAIOP Arizona use a curriculum originally designed by industry group REIAC and further refined by NAIOP volunteers to teach 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.
The second semester launched on Oct. 12 and culminates on Nov. 4 with a student competition. The instructor this semester is Kanisha Saunders.
“We are pleased to continue our partnership with Junior Achievement of Arizona to offer a quality curriculum that introduces high school students to the development process and careers in commercial real estate,” said Suzanne Kinney, President and CEO of the Arizona Chapter of NAIOP. “Making sure that young people from all backgrounds have the opportunity to learn about rewarding career paths in real estate is a priority for our association.”
This semester’s volunteers are Jim Mahoney and Brady Maus, Trammell Crow Company; Samantha Pinkal, Greater Phoenix Economic Council (GPEC); Eric Whitehurst, Kimley-Horn; David Kinney, Raintree Capital; Alex Boles and Rodney Bowden, ViaWest Group; Peggy Maxwell, Plaza Companies; and Stirling Pascal, STREAM Realty.
“A critical, and unfortunately, often lacking part of today’s learning experience is the exploration of future career possibilities. At Junior Achievement, we bridge the gap between what students learn in the classroom and what employers need in their future workforce,” said Colleen Cox, Senior Vice President of Education at Junior Achievement of Arizona.
“Partnering with organizations like NAIOP to help students imagine a future in fields that offer high-wage, high-growth opportunities is good for Arizona – for the future employees, industries, and the community as a whole. We are proud to partner with NAIOP and inspire the future generation of Arizona developers,” Cox said.
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. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit naiop.org.
About Junior Achievement of Arizona
Junior Achievement of Arizona (JA) is a 501© (3) nonprofit organization that equips Arizona students to succeed in work and life by giving them the knowledge and skills they need to manage their money, plan for their future, and make smart academic, career and economic choices. Since 1957, JA has taught kids, kindergarten through high school, about financial literacy, work readiness and entrepreneurship. The organization’s hands-on, age-appropriate programs are delivered by more than 5,000 corporate and community volunteers. Despite educational obstacles during the pandemic, JA reached approximately 100,000 students in the 2021-2022 school year. Follow @JAArizona on social media or visit jaaz.org/resources for more free online educational tools.
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by Peter Madrid | Oct 13, 2022 | News & Updates
PHOENIX, ARIZ. (Oct. 13, 2022) – The Central Arizona chapter of CCIM, commercial real estate’s global standard for professional achievement, is pleased to announce a full slate of fall events including a designee lunch, its annual golf outing, and a happy hour with two other industry partners.
Here’s what’s on tap:
CCIM Designee Lunch: Is the sky falling, is a recession coming? If so, how deep, how long will it last? Sean McCarthy, Managing Director, Wells Fargo. McCarthy is a senior private wealth portfolio manager with The Private Bank in Wells Fargo’s Wealth & Investment Management division.
He connects advice with investment implementation for clients of The Private Bank. He also provides thought leadership delivering insight and interpretation of the economy and financial markets based on the strategy and research of Wells Fargo Investment Institute.
The event is Oct. 25, from 11:30 a.m. to 1 p.m., at Pitch, 6350 E. Thomas Road, Scottsdale. The event is free to CCIM designee Central Arizona Chapter members; $25 for CCIM designee non-chapter members.
Drafting the NNN Free-Standing Building Lease: Licensees with learn how to properly draft the NNN free-standing building lease whether the property is office, retail, industrial, or restaurant. Necessary Exhibits to the lease will be provided to attendees.
The event is Oct. 28 from 8:30 a.m. to 11:30 a.m., at the Esplanade E-Center, 2501 E. Camelback Road, Suite 50, Phoenix. The event is free to CCIM Central Arizona Chapter members; $35 for non-members and guests.
November Chapter breakfast meeting with Liz Recchia: Join Liz Recchia, Director of Government Affairs, WeSERV Association of Realtors, and a panel as they discuss how commercial real estate professionals are impacted by government policies.
The event is Nov. 2, from 7 a.m. to 9 a.m. at the Esplanade E-Center, 2501 E. Camelback Road, Suite 50, Phoenix. Registration is $40 for CCIM members; $55 for non-members.
PAR-TEE on the Green and 18 Hole Golf Scramble: Join Central Arizona CCIM and Clear Direction Investments at the annual PAR-TEE on the Green & 18 Hole Golf Scramble. There are non-golf-related events after the scramble as well including a BBQ lunch, networking, and a chance to win raffle items.
The golf event is Nov. 10, from 8 a.m. to 4 p.m., at Papago Golf Course, 5595 E. Karsten Way, Phoenix. Registration fees are $1,000 per foursome (golf scramble and PAR-TEE event); $275 per individual (golf scramble and PAR-TEE event); and $125 for the PAR-TEE event.
CCIM/IREM/AZCREW industry mixer: CCIM Central Arizona joins IREM Greater Phoenix and AZCREW for an industry mixer Nov. 15, from 5 p.m. to 7 p.m. at Ocotillo 3243 N. 3rd St., Phoenix.
Click here for more information and to register for these events.
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by Peter Madrid | Oct 11, 2022 | News & Updates
PHOENIX, ARIZONA (Oct. 11, 2022) – Transactions involving a retail building and office space in the Southeast Valley highlight recent deals closed by NAI Horizon professionals. A retail building in Gilbert sold for $2.26 million and office space in Chandler sold for $21,000.
Sale Transactions:
Matt Harper, CCIM, negotiated the sale of a 7,702 SF retail building representing the seller, GGR Holdings, Inc., for $2.26 million. The property is located at 4024 E. Guadalupe Road, Gilbert, AZ. The buyer, Michael P. Glick, was represented by Carrick Sears with SVN.
Joe Pequeno and Troy Giammarco negotiated the sale of 728 SF office space representing the seller, Westhouse Properties, LLC, for $210,000. The property is located at 5505 W. Chandler Blvd., Suite 6, Chandler, AZ. The buyer, Wilbur Management Group, Inc., was represented by Stu Wilbur with Wilbur Management Group, Inc.
Lease Transactions:
Jay Mininberg represented the tenant, Five Point Wealth Advisors, LLC, in a 63-month office lease for 2,248 SF at 8925 E. Pima Center Parkway, Scottsdale, AZ. The landlord, Pima Freeway Commerce Center III, LLC, was represented by Shawn Dooley with Ross Brown.
Thomas Bean, CCIM, and Laurel Lewis represented the landlord, State Bar of Arizona, in a 60-month office lease for 1,780 SF at 4201 N 24th St., Phoenix, AZ. The tenant, Pacific Southwest Minority Supplier Development Council, was represented by Darius Green with Keyser.
Chris Gerow, Shelby Tworek and Gabe Ortega represented the landlord, Queen Creek Fiesta, LLC, & JW Duke Enterprises, LLC, in a 60-month retail lease for 1,300 SF at 44460 W. Edison Road, Maricopa, AZ. The tenant, GNC Holdings, LLC, was represented by Neil Board with Western Retail Advisors.
Don Morrow and Dylan Whitwer represented the tenant, Better Living Wellness, LLC, in a 60-month office lease for 2,432 SF at 7725 N. 43rd Ave., Phoenix, AZ. The landlord, Mesa 7165 East University, LLC, was represented by Samuel Rutledge with CPI.
Joe Pequeno and Troy Giammarco represented the tenant, Downstreem, LLC, in a 65-month office lease for 1,346 SF at 10451 W. Palmeras Drive, Sun City, AZ. The landlord, Bell Plaza Arizona, LLC,/Lineage CRE, was represented by Tyler Smith with Kidder Mathews.
Thomas Bean, CCIM, represented the landlord, Joseph & Esther Arianeh, in a 36- month office lease for 2,806 SF at 10240 W. Bell Road, Sun City, AZ. The tenant, Maxfar, LLC, was self-represented.
Matt Harper, CCIM, represented the landlord, HBR Properties, LLC, in a 37-month retail lease for 1,440 SF at 3825 N. 75th Ave., Phoenix, AZ. The tenant, Vasquez Ramirez Edmundo E, was represented by Marisol Herrera with At Home Real Estate AZ.
Matt Harper, CCIM, represented the landlord, Grand Center Plaza, LLC, in a 48-month retail lease for 2,240 SF at 11001 N. 99th Ave., Peoria, AZ. The tenant, Leroy and Juanelda Grogen, were self-represented. ar
Matt Harper, CCIM, and Thomas Bean, CCIM, represented the landlord, Achuldjan, LLC, in a 36-month office lease for 1,557 SF at 4616 N 51st Ave., Phoenix, AZ. The tenant, Gila Internal Medicine & Geriatrics, P.C. was self-represented.
Matt Harper represented the tenant, KBM Holdings, in a 38-month retail lease for 2,048 SF at 318 E. Brown Road, Mesa, AZ. The landlord, Brown Road Baseline, LLC, was represented by Michael Achtman with Orion.
Thomas Bean, CCIM, represented the landlord, Joseph & Esther Arianeh, in a 24-month office lease for 1,854 SF at 10240 W. Bell Road. The tenant, David Dobrusin CPA, LLC, was self-represented.
Joe Pequeno and Troy Giammarco represented the tenant, New Legacy Treatment Center, LLC, in a 12-month at 3414 N. 27th Ave., Phoenix, AZ. The landlord, Professional Roadside Assistance, LLC, was represented by Tarif Jaber with Jaber.
Matt Harper, CCIM, represented the landlord, Missouri Plaza, LLC, in a 13-month retail lease for 2,000 SF at 4304 W. Missouri Ave., Glendale, AZ. The tenant, RiverRock Staffing, LLC, 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 located in Phoenix and Tucson. NAI Horizon is passionate about the commercial real estate business, 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 300 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 300 offices in 43 countries strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 5,100 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 and a gross revenue of $1.5 billion.
NAI Global professionals achieve extraordinary results for clients locally and globally through creativity, collaboration and the consistent delivery of exceptional knowledge and service that only market-leading firms can provide. NAI Global provides a full range of corporate 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.
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by Peter Madrid | Oct 10, 2022 | News & Updates
GILBERT, ARIZ. (Oct. 11, 2022) – The success of a proprietary program employed by environmental compliance consulting firm Earthworks Environmental has led to the formation of a new company, ERX Industries.
For the past 8 years, Earthworks Environmental has employed ERX, an environmental reporting software program that puts all aspects of environmental compliance into one program. This includes permits, inspections, and maps.
Cherie Koester
“ERX is the software program we created to house all of our inspections for our clients; it takes what used to be done on carbon copy paper and creates a more manageable electronic format,” said Cherie Koester, CEO of Earthworks Environmental and sole owner and CEO of ERX Industries.
“The ease of use for both Earthworks’ compliance managers (inspectors) and the client (land developers, superintendents, trades, regulators, etc.) is exponential. The feedback we have been given by our clients and the regulatory community has been astounding.”
Koester said one of the largest national homebuilders in the U.S. purchased a license for its own use throughout all of its national locations.
“We will be assisting them to get our program into their in-house system and continue to help manage and update the program as well,” she added.
ERX was developed for large-scale national builders based on their feedback of what they wanted and needed, Koester said. It is user-friendly for consultants, builders, and regulators. It is customizable to specific projects, builders, and states. Builders and stormwater experts created it.
Earthworks Environmental currently has approximately 2,400 active users nationally in ERX. It is available as a subscription base or license purchased, Koester said.
“ERX is a great tool for a variety of reasons. It provides the ability for proposal requests, corrective actions are labeled and numbered, it features a regulator button that allows everyone associated with that site to get notifications, it is customizable according to region and city regulatory requirements, and inspection forms take less time to fill out for inspectors,” Koester said.
ERX also provides a digital rain log that each morning sends inspectors an email telling them where rain inspections are required. It replaces an actual rain gauge on-site. Digital maps and editing allow a project to be viewed remotely via a live map.
Other features include customizable templates for inspection reports, tracking and managing action items noted during an inspection, and an alert and notification system for overdue items.
“With ERX, you can add as many users as needed with ability to manage user access and roles. All documents and data are accessible online from any device. ERX provides secure and reliable records retention, which meet regulatory requirements,” Koester said.
Earthworks Environmental boasts 61 employees nationwide with work performed in 24 markets. It consults on more than 1,500 permits nationally.
Services provided include stormwater pollution prevention, dust control, and construction safety compliances. The firm primarily serves land developers, vertical developers, commercial construction, and land-holding companies.
To learn more about Earthworks Environmental visit earthworksenv.com.
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by Peter Madrid | Oct 6, 2022 | News & Updates
PHOENIX, ARIZ. (Oct. 6, 2022) – Arizona’s multifamily industry has been one of the most robust for the past few years, even during the pandemic.
While there is still plenty of runway as 2023 nears, there are some headwinds that could slow down the momentum. They include a lack of housing supply and a lack of affordable housing.
“You can’t go a day without hearing about the housing supply and the lack of it,” said Jake Hinman, government affairs consultant for the Arizona Multihousing Association and moderator for a panel at the AMA’s recent 2022 Perspectives & Projections event at the Sheraton Downtown Phoenix.
The panel discussed the Housing Supply Study Committee, which was formed to review data on the scope of housing supply and access and to compile an overview of ways to address Arizona’s housing shortage and mitigate its causes. Hinman is on the committee.
“Maricopa County is the fastest growing in the county. Everyone wants to come here,” said panelist and Tempe Mayor Corey Woods. “The challenge is that some people want to grow by only building single-family homes. In Tempe, for instance, we can’t build out. We have to build up. All our communities need to contribute to building housing for our future workforce.”
Panelist Cindy Navarrete Stotler, Deputy Director of the Arizona Department of Housing, said there needs to be a change in the conversation.
“Let’s make density cool again. We need to bring that back,” she said.
Arizona’s multifamily industry has been in the news a lot lately, from the number of apartment units needed to satisfy a growing population in Arizona to the eviction moratorium and subsequent issues the pandemic presented two years ago.
“The climate in Arizona is very difficult to navigate,” said David Leibowitz of public relations firm Leibowitz Solo, whose panel examined the shifting narrative in the media when it comes to the apartment industry. “We have worked with media the past years on the eviction issue and housing shortage. What has changed? The pandemic changed. The topic of evictions was only related to the moratorium. Now we’ve added another topic, the housing supply crisis.”
Other speakers included Mark Paratore, Vice President of Business Development for the Greater Phoenix Economic Council (GPEC), who told attendees that 2021 was a record breaker in the Valley with 10,859 new jobs. That translated into 55 new businesses, $635 million in payroll 214 domestic prospects, and 58 international prospects.
“Arizona has an increase in earnings thanks in part to high-growth innovation jobs,” he said. “Aerospace, manufacturing, and healthcare continue to lead the way.”
On the topic of national housing, affordability continues to be an issue, said Kimberly Bynum, Senior Vice President-Advisory at Meyers Research. Rent increases are making affordability more difficult. And now occupancies are coming down.
“Where is the pipeline now?” she asked. “We get kind of nervous. But we’re data people.”
Bynum’s things to watch: operating expenses, renewals, stabilized concessions, and lease-up concessions.
Jay Lybik, National Director of Multifamily Analytics at CoStar, said the Arizona housing outlook is a tale of two markets, and the change is not just happening in Phoenix. Sunbelt markets are feeling some pain as well. Record supply is beginning to overtake Phoenix rental demand.
“We are seeing some moderation,” Lybik said. “Last year was a fantastic year, with record absorption and a 5.8 vacancy percentage. There will be some issues this year, likely a reverse of 12 months ago. It has to do mainly with questions about the economy.”
Trends in Tucson show strong rent growth because of the demographic and people moving there. Tucson, Lybik said, recovered jobs after the pandemic much faster than the rest of the state. Construction activity is brisk along the I-10 freeway and around the University of Arizona. The rent growth in Flagstaff, he added, is more balanced.
About Arizona Multihousing Association:
The Arizona Multihousing Association is the statewide trade association for the apartment industry, representing more than 2,300 members in legislative, legal and regulatory matters. The mission of the Arizona Multihousing Association is to unite multifamily housing leaders in one trusted voice for Arizona’s rental community. For more information, visit azmultihousing.org.
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by Peter Madrid | Oct 4, 2022 | News & Updates
PHOENIX, ARIZ. (Oct. 5, 2022) — BOMA Greater Phoenix is inviting all Valley commercial building owners to take part on Veterans Day, Nov. 11, in the national “Light to Unite” event, a commemoration and celebration of the 240th anniversary of the U.S. Purple Heart Award.
The National Flag Foundation and the Military Order of the Purple Heart are partnering on the event and have the support of BOMA International and BOMA councils throughout the nation. This includes BOMA Greater Phoenix, the industry group that advances the commercial real estate industry through advocacy, influence, and knowledge.
The goal of “Light to Unite” is to have all major cities in America light up purple and/or red, white, and blue.
“We have some commitments for some buildings from Ryan Companies, and Transwestern, and look forward to bringing more onboard for this celebration,” said BOMA Greater Phoenix Executive Director Farrell Quinlan. “This is a patriotic way for the many commercial building owners in Metro Phoenix to show their support.”
NFF officials said they already have a commitment from One World Trade Center in New York City to light their building purple immediately following the lighting of Pittsburgh’s Koppers Tower. The Koppers Tower will be the first to light as it is the home of the NFF. All other participating buildings will light based on their time zone.
NFF is asking for BOMA-local participation helping it to secure commitments from as many American cities as possible. In addition to “Light to Unite,” event organizers have partnered with the NFL this year to create a video, “A National Flag Foundation Moment,” narrated by Jim Nantz which NFL teams will be asked to air during the NFL’s “Salute to Service” games in November.
The event has also received official support from the Marine Corps League and another commercial real estate industry group, the Society of Industrial and Office Realtors (SIOR).
Contact BOMA Greater Phoenix at admin@bomaphoenix.net if your property is interested in taking part in “Light to Unite.”
Koppers Tower in Pittsburgh.
About BOMA
The Building Owners and Managers Association (BOMA) International is a federation of 93 BOMA U.S. associations, BOMA Canada and its 11 regional associations and 13 BOMA international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including nearly 10 billion square feet of U.S. office space that supports 3.7 million jobs and contributes $205 billion to the U.S. GDP. Its mission is to advance the interests of the entire commercial real estate industry through advocacy, education, research, standards and information. BOMA Greater Phoenix has been federated with BOMA International since 1940. Find BOMA International online at www.boma.org
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by Peter Madrid | Oct 4, 2022 | News & Updates
PHOENIX, ARIZ. (Oct. 4, 2022) — The Arizona Association for Economic Development (AAED) expanded its Phoenix office with a new hire and promoted a current staff member, according to Executive Director Carrie Kelly.
Braxton Hynes joins AAED as its Member Engagement and Development Manager. Prior to joining AAED, Hynes served as Rural Community & Economic Development Program Manager with Local First Arizona and Manager of Customer Success with Yelp.
She holds a B.A. in justice studies from the Barrett Honors College at Arizona State University.
“Braxton is passionate about Arizona’s businesses and economic resiliency,” Kelly said. “Drawing from her experience in small business education, business development, and statewide tourism, she is excited to further AAED’s mission to advocate responsible economic development throughout the state.”
Juliana Jervis has been promoted to Operations and Events Manager. Jervis joined AAED as an office assistant in August 2019. Prior to joining AAED, she worked at America’s Public Television Stations (APTS) as events and staff assistant. At APTS, she helped with registrations and sponsorships for its annual event, in addition to membership recruitment and management.
Jervis holds a B.S. in sports management with minors in business administration and event planning from West Virginia University.
“Juliana has been integral in implementing positive changes at AAED,” Kelly said. “She has been assisting with marketing and outreach, organizing our events and conferences, and keeping our association on track.”
About AAED
The Arizona Association for Economic Development (AAED) was founded in 1974 with a mission to serve as Arizona’s unified voice for responsible economic development through professional education, public policy, and collaboration. For more information on AAED, visit http://www.aaed.com or call (602) 240-2233.
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by Peter Madrid | Sep 28, 2022 | News & Updates
GOODYEAR, ARIZONA (Sept. 28, 2022) – Just as the West Valley has experienced growth with a keen eye toward the future, so has Phoenix West Commercial, a family-run, full-service real estate brokerage firm celebrating its 10th anniversary.
Leading the firm is Principal and Designated Broker Bobbie Lorraine Mastracci, CCIM, SIOR. Prior to founding Phoenix West Commercial in 2012, she established her reputation in the West Valley as well as nationally with the prestigious CCIM Institute, SIOR, the West Valley Commercial Real Estate Group (which she co-founded) and Don Bennett & Associates, where she began her career.
Since 2006, Mastracci has completed lease and sale transactions with clients in Arizona, across the U.S., Canada, and internationally exceeding $200 million in value and more than 17 million SF of land and improved properties. She added that approximately 93 percent of her business is repeat and referrals.
“What makes me proud looking back at the past 10 years is the company’s integrity and how we have enhanced the community,” Mastracci said. “The company culture is genuinely working for the client, not for our paycheck. When the pandemic hit, we contacted clients and business owners to see how they were doing. Did they need help with the PPP loan process or getting in touch with a financial institution that would help them. If you take care of your people and your clients come first, it circles back to you in a huge way.”
After longtime Valley real estate veteran Don Bennett passed away, Mastracci pursued other brokerage opportunities then founded Phoenix West Commercial. It is now a family business with sons ELi Mastracci, CCIM, Principal/Senior Associate, and Giuseppe Mastracci, Marketing Director; and husband and father Joey Mastracci, who handles the company’s finances.
“I interviewed with other brokerage firms but they didn’t offer what I wanted,” Bobbie Mastracci recalled. “So, I started my own company. It was very exciting. Challenging, but very exciting.”
With a focus on the West Valley, the Phoenix West Commercial office grew to about 13 brokers by 2017. The firm expanded its services to Metro Phoenix, Yuma, Flagstaff and Casa Grande.
ELi Mastracci joined the company in 2018 as an unlicensed assistant and marketing director. He began taking real estate classes at 18, working under the tutelage of his mother. He earned the prestigious Certified Commercial Investment Member (CCIM) designation at 20, the youngest to be pinned to date.
“Working in a family business and working with mom has been a great learning experience,” ELi Mastracci said. “There is a comfort and familiarity you’ve known all your life. But I’m still expected to pull my own weight. She has helped me with difficult deals and has helped me work through problems. I don’t get special treatment.”
Giuseppe Mastracci joins the team next year as an agent. He currently handles Phoenix West Commercial marketing efforts.
“Looking ahead to the next 10 years, I see my boys running the brokerage and expanding it,” Bobbie Mastracci said. “We would like to take brokerage to the next level. We would like to also expand our commercial real estate portfolio and buy additional commercial real estate to build our wealth that way.”
Added ELi Mastracci: “The goal is not just to be a broker, but to be a principal. Being a landlord lets us experience the other side of the coin. It is your money at risk now.”
While Phoenix West Commercial will always be a home for West Valley brokerage and brokers, ELi Mastracci said he would like to see the company also have an East Valley footprint.
“Our strategy from the start was to concentrate on the West Valley,” Bobbie Mastracci said. “There was a time when no one would come out to the West Valley to make a deal. Now, everyone is coming here so we are running out of inventory. The adage ‘Go West, Young Man’ holds true.”
About Phoenix Commercial West
Phoenix West Commercial, LLC is a commercial real estate brokerage located in Goodyear, Arizona. We have access to local, national, international deals, clients and properties. Phoenix West Commercial agents have true respect and encourage the communities’ evolution. Since 2012, our team has produced highly successful transactions. We serve and provide professional, commercial real estate services throughout Arizona and the U.S. We’ve helped customers in various industries and scenarios from banking, retail, medical, industrial, government, and land sales for developers, investors, landlords and tenants. For more information visit phxwc.com.
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by Peter Madrid | Sep 28, 2022 | News & Updates
PHOENIX, ARIZ. (Sept. 28, 2022) – The opening line of a wildly popular TV show in the 70s proclaimed: “Space, the final frontier.” With living and conducting business in space a no-too-far-off reality, Blue Origin is leading the way and rewriting the line: “Space, the next frontier.”
Kiah Erlich, Head of Astronaut Sales and Corporate Partnerships for Blue Origin, is the 2022 AZCREW Woman Icon Speaker. AZCREW, the commercial real estate organization that exists to transform the industry by advancing women globally, is hosting Erlich on Oct. 12 at Arizona Country Club, 5668 E. Orange Blossom Lane, in Phoenix.
Kiah Erlich of Blue Origin
Among her topics, Erlich will discuss the intersection between space and real estate. At the center will be Orbital Reef, a commercially developed, owned, and operated space station to be built in low Earth orbit. Led by principal partners Blue Origin and Sierra Space, Orbital Reef is a commercially developed, owned, and operated space station that will be operated as a mixed-use business park in space in the second half of this decade. Orbital Reef partners include Amazon, Boeing, Redwire Space, Genesis Engineering, and Arizona State University.
Will there ever be an intersection between space and real estate?
“Yes, it’s coming very soon. Blue Origin is working towards a vision of millions of people living and working in space to benefit Earth,” Erlich said. “To get to a point where we have millions of people regularly living and working in space, we need to not only build the infrastructure to support that, we also need to look at what has worked in the past and what is working now here on Earth.
“To do that, we are looking at the real estate industry for best practices and successful business models. One that comes to mind is mixed-use development. Designed to open multiple new markets in space, Orbital Reef will provide anyone with the opportunity to establish their own address in orbit. You will see modules dedicated to research, others dedicated to space tourists, and even new businesses will emerge with a permanent office in space. Working from home will have a whole new meaning soon.”
AZCREW’s October event begins with networking and a reception on the patio at 4:30 p.m. The presentation begins in the Arcadia room at 5:30 p.m. The event wraps up with networking and reception on the patio at 6:30 p.m.
Erlich began her career at Phoenix Sky Harbor International Airport where she worked for 1½ years as a graduate airport management intern. She has since spent most of her career in the aerospace industry having led multiple $300 million-plus avionics and software businesses for Honeywell Aerospace, including several acquisitions.
Three years ago, she was offered a once-in-lifetime opportunity to pivot her career and join the space industry as the Director of NASA sales for orbital launch.
Erlich is focused on finding Blue Origin’s future astronauts and corporate partners and working towards her company’s mission of millions of people living and working in space for the benefit of Earth. She is based in Phoenix.
What was her reaction when she saw the images from the James Webb Space Telescope?
“I had two thoughts. One, how humbling, small, and insignificant we are in the universe. Two, we are not alone. One image solidified that and showed we
Orbital Reef
are not alone,” she said.
Erlich relishes everything associated with space and shared a light moment in a short Q&A.
Favorite show about space? “Ancient Aliens” on History Channel;
Favorite quote about space? “We came all this way to explore the Moon, and the most important thing is that we discovered the Earth.” – Apollo 8 astronaut Bill Anders;
Favorite song about space? “Rocket Man,” by Elton John;
Coolest memento from outer space? A piece of Kapton foil from the Apollo 11 command module, Columbia, which flew to the moon in July 1969;
Have you ever been to space? “I have not, but I have gone through our astronaut training program. I get to send humans to space, usually people who have dreamed of going to space since they were kids. That’s what is so fun about this job—helping people fulfill their childhood dreams.”
Favorite space creature? Marvin the Martian from the Looney Tunes cartoons. His catchphrase was: “Where’s the kaboom? There was supposed to be an Earth-shattering kaboom!”
Favorite astronaut? “I can’t pick just one, but I’d have to say it was the entire crew of Apollo 8. It was one of the riskier missions. It was simply remarkable. It was the first crew that orbited the moon.”
If you could eat a hamburger from anywhere in space, from where would it be?
“I’d like to have it in the comfort of Orbital Reef. Probably in some type of habitat. Humans have to be inside a habitat, spacesuit, or on an Earth-like planet because you can’t (yet) eat in the vacuum of space. I’d like to be alive to enjoy that hamburger.”
Registration fee for the Oct. 12 event is $75 for members; $500 for a table of eight (person booking the table must be a member); $100 for non-members; and $700 for a non-member table of eight. Register here.
Orbital Reef interior core
About AZCREW:
AZCREW is the local affiliate of CREW Network. CREW Network is the premiere business network dedicated to transforming the commercial real estate industry by advancing women globally. Membership offers unparalleled business development, leadership opportunities and networking both locally and globally with more than 12,000 professionals in 75+ markets worldwide, representing all disciplines of commercial real estate. Learn more and apply for membership at arizonacrew.org.
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by Peter Madrid | Sep 27, 2022 | News & Updates
PHOENIX, ARIZONA (Sept. 27, 2022) – Four land sales totaling $9.38 million highlight recent deals closed by NAI Horizon professionals. With the addition of the sale of a retail space in Scottsdale, those five deals totaled almost $10 million ($9.8 million).
Sale Transactions:
John Filli negotiated the sale of 211.512 acres, representing the seller, Magnum Estates, LLC, for $6.768 million. The property is located at NEC of the intersection of Montgomery Road & Selma Highway, Casa Grande, AZ. The buyer, Harvik Properties, LLC, was represented by Krista Boss with Realty One Group 13.
Chris Gerow, Gabe Ortega and Shelby Tworek negotiated the sale of 5.95 acres, representing the seller, JEG Fit 43rd Ave. & I-10 Partners, LLC, for $1.6 million. The property is located at 1540,1530,1470,1460,1350 N. 43rd Ave., Phoenix, AZ 85009. The buyer, Southwestern Property Corp. was self-represented.
Chris Gerow, Gabe Ortega and Shelby Tworek negotiated the sale of 1.9 acres, representing both the seller, Ironwood Holdings, LLC, and the buyer, Mast Properties, LLC, for $550,000. The property is located at NEC of Broadway & Ironwood Road, Apache Junction, AZ.
Mark Wilcke, Larson Wilcke and Dylan Whitwer negotiated the sale of 1.62 acres of industrial land, representing the seller, Camping Investments, LLC, for $480,000. The property is located at 947 W. Silverlake Road, Tucson, AZ. The buyer, Tucson Commercial Carpet Profit Sharing Plan, was represented by David Blanchette with NAI Horizon (Tucson).
Dylan Whitwer, Laurel Lewis and Kevin Higgins negotiated the sale of a1,931 SF retail space, representing both the seller, Argyle First Realty, LLC, and the buyer, Soular Holdings 1, LLC, for $463,440. The property is located at 10031 E. Dynamite Blvd., Scottsdale, AZ.
Lease Transactions:
Thomas Bean, CCIM, represented the tenant, FIT Electronics, Inc., in a 63-month office lease for 1,686 SF at 4001 E. Mountain Sky, Phoenix, AZ. The landlord, Burt E. Fugate, etc., was represented by Joe Vale & Tarryn Fountain with Cushman & Wakefield.
Troy Giammarco and Joe Pequeno represented the landlord, Creed Holdings, LLC, in a 28- month office lease for 2,000 SF at 18001 N. 79th Ave., Glendale, AZ. The tenant, VG & Associates Inc., was represented by Brielle Torel with The Plaza Companies.
Matt Harper, CCIM, represented the landlord, McClure’s Children Trust, LLC, in a 62-month retail lease for 2,060 SF at 2721 W. Van Buren, Phoenix, AZ. The tenant, Olivia Soto, was self-represented.
Jay Mininberg represented the tenant, Brillian Network & Automation Integrated System AZ USA, LLC, in a 38.5-month lease for 2,179 SF at 7655 E. Gelding Road, Scottsdale, AZ. The landlord was represented by Mike Kitlica with Cushman & Wakefield.
Matt Harper, CCIM, represented the landlord, B & A, LLC, in a 42-month retail lease of 1,440 SF at 520 W. Union Hills Drive, Phoenix, AZ. The tenant, Santiago Jimenez Zaca, was self-represented.
Matt Harper, CCIM, and Thomas Bean, CCIM, represented the landlord, Achuidjian, LLC, in a 26-month office lease for 1,378 SF at 4616 N. 51st Ave., Phoenix, AZ. The tenant, Arizona Personal Injury Centers, LLC, was self-represented.
Matt Harper, CCIM, represented the landlord, 1241 E. Broadway Plaza, LLC, in a 40-month retail lease at 1241 E. Broadway, Mesa, AZ 85204. The tenant, Crazy Hair Salon, was self-represented.
Kevin Higgins represented the tenant, Diamond Travel, Inc., in a 25-month office lease for 555 SF at 4539 N. 22nd St., Phoenix, AZ 85016. The landlord, Biltmore 22, LLC, was represented by Chris Hunter with LevRose CRE.
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 located in Phoenix and Tucson. NAI Horizon is passionate about the commercial real estate business, 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 300 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 300 offices in 43 countries strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 5,100 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 and a gross revenue of $1.5 billion.
NAI Global professionals achieve extraordinary results for clients locally and globally through creativity, collaboration and the consistent delivery of exceptional knowledge and service that only market-leading firms can provide. NAI Global provides a full range of corporate 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.
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