by Peter Madrid | May 23, 2022 | News & Updates
PHOENIX, ARIZONA (May 23, 2022) – The sale of three office buildings, two parcels of land and one retail building totaling $5.15 million highlight recent transactions facilitated by NAI Horizon professionals.
Sale Transactions:
Dylan Whitwer and Laurel Lewis negotiated the sale of a 4,572 SF office building, representing the seller, East Dynamite, LLC, for $1.075 million. The property is located at 10031 E. Dynamite Blvd., Scottsdale, AZ. The buyer, La Fuerza De Rios, LLC, was represented by Adam Polacek with Sterling Fine Properties.
Matt Harper, CCIM, negotiated the sale of a 1,710 SF retail building, representing the seller, JEMAD, LLC, for $900,000. The property is located at 6449 W. Glendale Ave., Glendale, AZ. The buyer, Shalash Sales, LLC, was self-represented.
Don Morrow, Thomas Smith and Dylan Whitwer negotiated the sale of ±3.324 AC land, representing both the buyer, HOH Land, LLC, and seller, State of Arizona Department of Transportation for $825,641. The property is located West of the SWC of SR 101 and 16th Street.
Jay Mininberg and Thomas Bean, CCIM, negotiated the sale of a 2,216 SF office, representing the seller, Levin Family Holdings, LLC, for $800,000. The property is located at 11111 N. Scottsdale Road, Suite 225, Scottsdale, AZ. The buyer, Rideout Law, PLCC, was represented by Brett Nichols & Jim Zenzonak with Re/Max Fine Properties.
Gabe Ortega, Chris Gerow and Shelby Tworek negotiated the sale of 84,707 SF of retail land, representing the buyer, Tempe Thorn Rentals, LLC, for $800,000. The property is located at NWC Lindsay and Baseline roads, Gilbert, AZ. The seller, QuikTrip Corporation, was represented by Zach Pace with Phoenix Commercial Advisors.
Jay Mininberg and Thomas Bean, CCIM, negotiated the sale of 2,216 SF office, representing the seller, Levin Family Holdings, LLC, for $750,000. The property is located at 11111 N. Scottsdale Road, Suite 235, Scottsdale, AZ. The buyer, TKBPE Revocable Family Trust, was represented by Ken Clarke with Home Smart.
Lease Transactions:
Gabe Ortega, Chris Gerow and Shelby Tworek represented the landlord, SIMONCRE CSH II, LLC, in a 132-month retail lease for 5,501 SF at 1116 S. Stapley Drive, Mesa, AZ. The tenant, MOMDOC, LLC, was represented by Kyle Campbell with Collier’s International.
Gabe Ortega, Chris Gerow and Shelby Tworek represented the landlord, SIMONCRE CSH II, LLC, in a 72-month retail lease for 2,350 SF at 1142 E. Southern Ave., Mesa, AZ. The tenant, Ono Hawaiian BBQ, was represented by Andy Kroot with Kroot & Associates.
Drew Eisen represented the tenant, Arizona Turf Liquidators, LLC, in a 61-month industrial lease for 15,165 SF at 5525 W. Latham St., Phoenix, AZ. The landlord, SREIT Coronado Phase I, LLC, was represented by Jeff Conrad with Lee & Associates.
Gabe Ortega, Chris Gerow and Shelby Tworek represented the landlord, SIMONCRE CSH II, LLC, in an 89-month retail lease for 4,003 SF at 1116 S. Stapley Drive, Mesa, AZ. The tenant, Sleep Outfitters, was represented by John Reva with JLL.
Troy Giammarco and Joe Pequeno represented the tenant, Sapphire Fitness Ventures, in a 91-month retail lease, for 3,263 SF at 5609 E. McKellips Road, Mesa, AZ. The landlord, Shoppes at Legacy SPE, LLC, was represented by Nick Dedona with Phoenix Commercial Advisors.
Gabe Ortega, Chris Gerow and Shelby Tworek represented the tenant, Scrubs & Beyond, in a 66-month retail lease, for 4,000 SF at 857 N. Dobson Road, Mesa, AZ. The landlord, Kimco Riverview LLC, was represented by Max Bippus and Bill Bones with CBRE.
Dylan Whitwer and Don Morrow represented the tenant, Rotational Athlete Solutions, in an 87-month retail lease for 6,175 SF at 10953 N. Frank Lloyd Wright Blvd., Scottsdale, AZ. The seller, ECG New Palo Verde, LLC, was represented by Cliff Johnston with Kidder Matthews.
Chris Gerow, Shelby Tworek, and Gabe Ortega represented the landlord, Queen Creek Fiesta, LLC, in a 120-month retail lease for 1,200 SF at 44460 W. Edison Road, Maricopa, AZ. The tenant, Nekter, LLC, was represented by Ali Hill with Phoenix Commercial Advisors.
Matt Harper, CCIM, and Sharon Reeves represented the landlord, 910 N. 5th St., LLC, in a 58-month retail lease for 2,968 SF at 910 & 912 N. 5th St., Phoenix, AZ. The tenant, Cameron 7, LLC, was self-represented.
Matt Harper, CCIM, and Sharon Reeves represented the landlord, 910 N. 5th St., LLC, in a 60-month retail lease for 1,511 SF at 914 N. 5th St., Phoenix, AZ. The tenant, Cameron 7, LLC was self-represented.
Joe Pequeno and Troy Giammarco represented the tenant, Sycamore Integrated Health, LLC, in a 36-month medical lease for 5,347 SF at 1350 E. McKellips Road, Mesa, AZ. The landlord, Gary O. Jones, was represented by Cobe Real Estate.
Gabe Ortega, Chris Gerow and Shelby Tworek represented the landlord CP6ARP, LLC, in an 86-month retail lease for 1,032 SF at 18589 N. 59th Ave., Phoenix, AZ. The tenant, Clean Colonic, was represented by Randi Brandfass with Southwest Commercial Real Estate, LLC.
Dylan Whitwer and Don Morrow represented the tenant, Strong Communities Action, in a 60-month office lease for 2,200 SF at 3326 N. 7th St., Phoenix, AZ. The landlord, 513 South 1st Avenue, LLC, was represented by Andrew Salter with Salt REI.
Isy Sonabend and Drew Eisen represented the tenant, Custom Pipe & Fabrication, in a 24-month renewed industrial lease, for 70,000 SF at 149 S. 27th St., Phoenix, AZ. The landlord, City of Phoenix/Aviation was self-represented.
Matt Harper, CCIM, represented the landlord, HBR Properties, LLC, in a 62-month retail lease for 792 SF at 3825 N. 75th Ave., Phoenix, AZ. The tenant, Tablet & Electronics Repair, LLC, was represented by Katie Weeks & Bryan Ledbetter with Western Retail Advisors.
Thomas Bean, CCIM, and Jay Mininberg represented the landlord, Joseph & Ester Arianeh, in a 37-month office lease for 2,271 at 10240 W. Bell Road, Sun City, AZ. The tenant, Sun Cities Financial Group, Inc., was self-represented.
Gabe Ortega, Chris Gerow and Shelby Tworek represented the landlord, CP6MF, LLC, in a 36-month retail lease for 2,151 SF at 1840 E. Warner Road, Tempe, AZ. The tenant, The Perfect Pea, was self-represented.
Gabe Ortega, Chris Gerow and Shelby Tworek represented the landlord, SIMONCRE CSH II, LLC, in a 72-month retail lease for 915 SF at 1142 E. Southern Ave., Mesa, AZ. The tenant, JBB Barbershop was self-represented.
Troy Giammarco and Joe Pequeno represented the landlord, Avondale Medical Campus, in a 38-month office lease for 2,550 SF at 18001 N. 79th Ave. The tenant, DMB Community Life, was self-represented.
Matt Harper, CCIM, represented the landlord, H & T Properties, LLC, in a 59½-month retail lease for 1,500 SF at 602 W. Union Hills Drive, Phoenix, AZ. The tenant, Lynn Shoemaker, EA, PLLC, was self-represented.
Matt Harper, CCIM, represented the landlord, Robert and Arlene Thatcher in a 24-month retail lease for 5,350 SF at 4734 & 4744 W. Glendale Ave., Phoenix, AZ. The tenant, Eric Timothee Gouvide Jr. was self-represented.
Joe Pequeno and Troy Giammarco represented the tenant, Step Recovery and Health Center, LLC, in a 30-month office lease for 2,600 SF at 761 E. University Drive, Mesa, AZ. The landlord, Kingdom Medical, LLC, was represented by Anthony Ruiz with SVN Desert Commercial.
Dylan Whitwer, Don Morrow and Laurel Lewis represented the tenant, Housing Solutions, LLC, in an 18-month office lease for 1,520 SF at 7055 W. Bell Road, Glendale, AZ. The landlord, Humphrey’s Fund REIT I, LLC, was represented by Greg McMillian with Cushman Wakefield.
Joe Pequeno and Troy Giammarco represented the tenant, Les and Sherry Decker, in a 26-month industrial lease for 2,500 SF at 33 N. 58th St., Mesa, AZ. The landlord, GRC Albany, LLC, was represented by Brad Broyles with Commercial Real Estate Options.
Matt Harper, CCIM, and Tom Bean, CCIM, represented the landlord, Ruth E Davies, in a 12-month office lease for 770 SF at 12630 N. 103rd Ave., Sun City, AZ. The tenant, Supreme Dental Lab, LLC, was represented by Maria Jisela Godina with EXP Realty.
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 | May 17, 2022 | News & Updates
PHOENIX, ARIZ. (May 17, 2022) – NAI Horizon represented the tenant, a fitness provider that offers conventional and unconventional training, in a long-term lease at Verde at Cooley Station in Gilbert, Arizona.
NAI Horizon First Vice President Troy Giammarco and Vice President Joe Pequeno represented Coach Pain Academy in a long-term lease totaling $1.43 million at the new Verde at Cooley Station development in Gilbert at 3975 E. Williams Field Road.
“With the recent supply chain issues and rising construction costs, we were pleased to bring this to a close,” Giammarco said. “The developer, architect, and tenant worked diligently to find solutions to all of the complications.”
Coach Pain Academy, which opens later this year, is a fitness workshop that offers a versatile and innovative program that is designed to help participants meet their goals. It equips participants to adapt and overcome challenges both mentally and physically.
“After I visited Coach Pain Academy and took a class, I knew we wanted him for our new, unique live-work project at Verde at Cooley Station,” said developer Norm Brody.
Verde at Cooley Station opened earlier this year in the heart of one of Gilbert’s popular and fast-growing commercial locations. The 23-acre mixed-use development includes multifamily, retail, office, restaurants, and a central gathering place called “The Green.”
“Troy and Joe were relentless in representing us for our new location,” said ‘Coach’ and his wife, Tionni. “They continued after the deal was concluded to assist us in the process of vendor selection for architectural, construction, and logistical planning.”
Coach Pain Academy, which will occupy 4,000 SF, is scheduled to have its grand opening this fall.
The landlord, Verde-Gilbert LLC, was represented by Scott Johnson with Real Companies.
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 | May 16, 2022 | News & Updates
PHOENIX, ARIZONA (May 16, 2022) – NAI Horizon represented the seller in the disposition of two parcels of land and an industrial building, which the City of Maricopa, Arizona, plans to utilize as a facilities works yard.
NAI Horizon First Vice President Michael Gaida represented DRA LLC of Maricopa in the deal which fetched $2.4 million. The transaction includes an 18,000 SF building on 2.5 acres at 32240 W. Bud Road. It also includes an adjacent vacant 2.51 acres to the North for a total of 5.01 acres.
“Available industrial land with this many buildings in the Maricopa/Gila Bend market is nearly impossible to find,” Gaida said. “The City of Maricopa has been actively searching for a location like this for several years.
“The property comes with a lot of machining equipment and powder-coating spray booths and dryers. The city will be able to securely park, service, and repair its fleet of vehicles, light and heavy equipment, with ample storage for all future Pinal County expansion projects,” Gaida said.
The City of Maricopa will occupy the building, which formerly housed Alpha Tech Coatings. The property will ultimately save taxpayer dollars over time as Maricopa continues to expand.
The investment highlights include Ak-Chin airport access, on-site living quarters, a security system, and storage space. The building was constructed in 1996 and renovated in 2003.
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 | May 16, 2022 | News & Updates
SCOTTSDALE, ARIZONA (May 16, 2022) – LevRose CRE/TCN Worldwide brokers enjoyed an active month in April, facilitating deals totaling $27.9 million and 182,692 SF.
The top transactions for April:
Partners Zak Kottler and Joe Cosgrove with Advisor Hunter Chasse, represented the seller in the office building sale of 13847 N. Northsight Blvd., in Scottsdale. The 16,000 SF building was sold by Bradley Investments, LLC, for $6 million and purchased by Salt Castle Trust.
Partners Danielle Davis and Trent McCullough and Advisor Branden Mondragon facilitated the sale of 4333 N. Scottsdale Road in Scottsdale. Representing the seller, Hudye Group LP the 16,482 SF redevelopment retail opportunity sold to Galleria Triangle, LLC for $4.9 million.
Partners Danielle Davis and Trent McCullough facilitated the sale of the retail plaza at 8880 E. Via Linda in Scottsdale, Arizona. LevRose represented both the buyer, Doxa to Theo 2, LLC. and the seller, Chaffee Family Trust. The 17,974 SF plaza sold for $3,85 million.
LevRose represented the seller, A & C Building Management, LLC, in the sale of the office building at 5621 W. Beverly Lane, in Glendale, Arizona. The deal was negotiated by Partner Michael Waxman and Senior Advisor Foster Bundy. The 8,100 SF property sold for $2.05 million.
Representing the buyer, Partner Aaron Norwood helped negotiate the sale of an office/retail building at 4045 E. McDowell Road in Phoenix. The 9,700 SF property, Castor Plaza, was sold to AES Property Development, LLC, for $1.2 million. The seller was Castor Plaza, LLC.
Partners Keri Davies and Jason Reddington of represented the landlord, JBJM Camelback, LLC, in the 10,928 SF lease of 3001 E. Camelback Road, #100, 140 and 150 in Phoenix. The new office tenant is BOKF, NA.
13847 N. Northsight Blvd., in Scottsdale.
About LevRose
LevRose Commercial Real Estate is a market leader in commercial real estate services in the Greater Phoenix metro area. Since 1992, LevRose has been helping clients with every aspect of leasing, buying, selling, and managing Commercial properties. With some of the top professionals in the industry, LevRose takes a higher level of accountability for each client. Commercial Property management is handled through affiliate firm MODE Real Estate Management Services. MODE has a unique, professional approach to the management of office, retail and medical properties.
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by Peter Madrid | May 12, 2022 | News & Updates
PHOENIX, ARIZONA (May 12, 2022) – NAI Horizon represented the tenant, a family-owned janitorial supply company that celebrated its 45th anniversary this year and survived the Great Recession and COVID-19, in a long-term lease at Fiesta Ranch Business Center in Gilbert, Arizona.
First Vice President Joan Krueger represented Advance Paper & Maintenance Supply, Inc., in the long-term lease valued at $407,000. The tenant is leasing 6,725 SF at Fiesta Ranch Business Center, 1035 N. McQueen Road in Gilbert.
“Advance Paper & Maintenance is and has been for many years a staple in the East Valley business community,” Krueger said. “It was an honor and a pleasure to assist this family-owned company in its next chapter so it can continue to provide its clients with the outstanding service to which they are accustomed. I look forward to many years of continued success for Advance.”
The business originally started in Mesa in 1945, has grown and is now headquartered in Gilbert. The De Rosa family acquired the business in 1976 and continues to operate it as a family-owned firm. In 2017 Advance Paper & Maintenance Supply acquired Champion Janitorial Supply.
The business moved from its previous location at 1481 W. Scott in Gilbert. Fiesta Ranch Business Center is located in the El Dorado Lakes neighborhood in Gilbert. The Class B industrial building was completed in 1987 and totals 68,207 SF
The landlord, the Richard Sheinfeld Trust of Chatsworth, California, was represented by Keli Jelinek of Commercial Properties Inc.
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 | May 12, 2022 | News & Updates
PHOENIX, ARIZ. (May 12, 2022) – The Central Arizona chapter of CCIM, commercial real estate’s global standard for professional achievement, presents its June breakfast program, “Casa Grande: A Growing City,” a look an Arizona city poised to be a major hub for manufacturing, logistics, healthcare, and retail.
The event is on June 1, from 7:30 a.m. to 9 a.m. at the Esplanade E-Center, located at 2501 E. Camelback Road, Suite 50, in Phoenix. The guest speaker is Ryan Barrett, the Economic Development Coordinator for the City of Casa Grande.
Located between the state’s major metropolitan areas of Phoenix and Tucson, Casa Grande is strategically situated for servicing both markets that boast a combined population of 5.5 million people. Casa Grande possesses thousands of acres of developable land in its Industrial Corridor, which is home to numerous manufacturing and logistics companies. Most of this land has utilities to the site, immediately adjacent to it or in close proximity. This reduces upfront costs for project development and construction.
Because of its proximity to the metro areas, companies locating in Casa Grande have access to a highly educated and skilled workforce of more than 3 million. Lucid Motors, the electric vehicle company producing its cars in Casa Grande, employs 2,000 people in Arizona with plans of hiring another 1,000 by the end of the year.
Connectivity plays a big role in why companies choose Casa Grande. It is the only community in the state directly served by two major interstates (I-8 and I-10), the main line of the Union Pacific Railroad, and is within an hour of three international airports. Casa Grande is also situated less than eight hours from the Port of Long Beach, three hours from the Port of Entry in San Luis, and two hours from the Port of Entry in Nogales.
Registration fee is $40 for Chapter members; $55 for non-members. A breakfast buffet will be served. Register here.
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by Peter Madrid | May 12, 2022 | News & Updates
SAN DIEGO, CALIF. (May 12, 2022) ‒ Intersection, which prides itself on value-driven commercial real estate strategies, has acquired a 92,750 SF multi-tenant flex industrial property in Gilbert, Arizona, for $13.25 million.
The acquisition of KeyWest Plaza, 700-734 N. Golden Key St., in Gilbert, was completed off market and represents the second acquisition in Intersection’s post-pandemic industrial investment strategy that is focused on $5 million to $20 million projects in markets west of Denver.
“Given the competitive nature of the market for this kind of product, we have to recognize the great work done by our brokerage partners at Commercial Properties. They have worked collaboratively with us for months in Metro Phoenix and helped us find a great deal off market,” said Anton Myskiw, Intersection Senior Analyst and a Phoenix native who sourced the deal.
The Leroy Breinholt Team of Leroy Breinholt, David Bean, Cory Sposi, Cory Breinholt, and Kelli Jelinek of the Phoenix office of Commercial Properties, Inc., brokered the deal on behalf of the seller, Golden Key Industrial Park, LLC.
“Intersection is relatively new to this market, but quickly understood where the growth opportunities could be found. We look forward to working with them as they execute the strategy on this property,” Bean said.
Intersection plans to complete significant improvements on the property that will improve curb appeal and the overall tenant experience. Renovations include new paint, and parking lot and landscape upgrades. Intersection will also implement a new tenant signage program providing tenants with greater visibility.
Intersection intends to create a best-in-class flex industrial asset to meet the demands of the Gilbert submarket. Commercial Properties will continue to manage and lease the property for Intersection.
The investment was syndicated to a group of Intersection’s high net worth investors. It is the company’s eighth acquisition. Intersection has now crossed over $100 million in historical deal transaction volume.
“Multi-tenant flex with a value-add component represents a very good risk profile for our investors. The Southeast Valley submarket in Metro Phoenix has great fundamentals and we can see a clear path to demand for high-quality product like KeyWest Plaza. Fundamentally, that is what we set out to do on every deal,” said Rocco Cortese, Managing Director with Intersection.
About Intersection
Intersection, a vertically-integrated West Coast-based commercial real estate firm, has built a sustainable operating platform that specializes in value-add industrial, office, and retail investments. At its foundation, the platform is focused on providing best-in-class service and generating superior risk-adjusted returns to Intersection’s investment partners.
Intersection’s track record includes the successful acquisition of eight commercial properties with a total capitalization of $100.2 million. The company manages a portfolio of approximately 1.5 million square feet (MSF), servicing its own property and the properties owned by many of its investors. Headquartered in San Diego with offices and investments throughout California, Utah, Oregon, and Colorado, Intersection is uniquely positioned to deliver service and results in the venture’s target markets. For more information visit intersectioncre.com.
KeyWest Plaza, 700-734 N. Golden Key St., in Gilbert, Arizona.
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by Peter Madrid | May 11, 2022 | News & Updates
SCOTTSDALE, ARIZONA (May 11, 2022) – Delivering a much-needed medical building to the bustling West Valley, Sigma Contracting, Inc. completed site work and is going vertical with Arrowhead Endoscopy Center in Glendale, Arizona.
The 12,280 SF building sits on 2.3 acres at 17438 N. 71st Drive, in Glendale. Owned by Pavasime LLC, the facility is scheduled to open this summer. The architect of record is Phoenix-based, triARC Architecture & Design.
The new construction project consists of a single-story medical facility with associated site improvements and parking for a group of practitioners that has been together for 11 years. It will become the new facility for this group of doctors expanding their ability to help the local community that requires these procedures.
Demand for outpatient medical services, including upper endoscopies, colonoscopies and endoscopic ultrasound, has necessitated a larger facility. The new facility will have six pre-procedure bays, procedure rooms, and six post-procedure recovery bays, as well as consult and office space.
“Sigma has been very excited to be working with triARC Architecture & Design, a noted leader in medical facility design and architecture,” said Sigma President Dan Hinkson. “This project will bring needed space to accommodate the market demand for Arrowhead Endoscopy’s services in the surrounding community, as well as add to Sigma’s continually expanding portfolio in medical projects.”
The city of Glendale is experiencing unprecedented growth in both commercial development and job creation. With a 2020 population of approximately 260,000 residents, it is the seventh-largest city in Arizona and the 87th largest city in the U.S. Glendale is currently growing at a rate of 0.94% annually and its population has increased by 14.53% since the most recent census, which recorded a population of 226,721 in 2010.
“It was delightful to have the opportunity to create this project for Arrowhead Endoscopy with the great team at Sigma. Despite supply chain challenges, Sigma is delivering this top-notch medical facility to the West Valley,” said Jill B. Hamblen, AIA, Principal at triARC Architecture & Design.
Notable subcontractors on Arrowhead Endoscopy include Crawford Mechanical Services, HVAC, plumbing and medical gases; C&G Masonry, masonry; Decode Electric, electric; Amber Steel, steel; and Mission Underground, utilities.
ABOUT SIGMA CONTRACTING INC.
Sigma Contracting, Inc. is an Arizona-based company founded in 1983 and licensed in eight Southwestern states. As a premier commercial general contractor, Sigma has established a broad footprint in the region with an extensive portfolio of projects in a variety of sizes, industries, and property types, with established long-standing client relationships with top developers, architects, municipalities, and businesses in the region. For 35 years Sigma has been the turnkey contractor for more than 900 construction projects including hospitals, medical office buildings, schools, public venues, retail and industrial spaces, banks, office buildings, and municipal facilities. For more information visit www.sigmacontracting.com.
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by Peter Madrid | May 10, 2022 | News & Updates
PHOENIX, ARIZ. (May 11, 2022) – NAI Horizon’s Church Realty Solutions practice led by Thomas Smith, represented the seller, the buyer, and a new landlord in the $1.425 million investment sale and long-term lease of Celebration Lutheran Church in Peoria, Arizona.
Smith, a Senior Vice President with NAI Horizon, represented the seller – off of a referral from Earle Shroyer of Realty Executives – Celebration Lutheran Church of Peoria, and the buyer, a private investment partnership from Phoenix.
The property is located at 8726 W. Olive Ave., in Peoria.
In a separate transaction, Smith represented the new owner in a long-term lease totaling in excess of $500,000. Calvary Chapel Arrowhead was looking to move its church to a more dynamic and capable set of facilities while remaining in Peoria.
Smith assists and serves churches in acquiring new buildings, in leasing part or all of their existing facilities, supports owner churches in creating new revenue sources from partial and or part-time leasing of their facilities, and creates strategies to repurpose buildings to accommodate places of worship, consolidates, and assists with the sale and disposition of properties and facilities for churches of all sizes and styles. Smith also brings in smaller churches to sometimes share space on off-sabbath days at market rental rates
“Another option for a struggling church that is facing diminishing congregational growth is a sale-leaseback in which a church sells its property, banks its equity or uses it to rebuild ministries, and then leases the property back from the new owner/landlord,” Smith said. “This is a message that is being heard in church real estate but not acted on often enough to date.
“The strategy is to bring in another church entity as buyer or a specific investor profile that will, encourage a challenged church to look to achieve a strategic transaction known as a sale-leaseback. The more traditional approach to capturing inflated equity in a church facility is to sell and seek to either lease or buy a smaller facility thus lowering expenses while recapitalizing a church’s financial position,” Smith said.
Built in 1994, the 6670 SF property features traditional church architecture – a sanctuary, kitchen, offices, a conference room, restrooms, storage room, and classrooms. There are also peaceful fellowship areas outside and inside the main building. Additionally, a vacant piece of land totaling more than 2 acres was included in the sale transaction.
“For me, the Church Realty Solutions practice is part business and part ministry and serves as my driving purpose to create and deliver world-class professional real estate services to communities of faith,” Smith said.
Janel Wangsness with Keyser represented the Calvary Chapel Arrowhead tenant, which already has seen new congregants and made improvements to the existing facilities.
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 | May 9, 2022 | News & Updates
SCOTTSDALE, ARIZ. (May 10, 2022) ‒ After eight years working for a commercial landscaping company in the Valley, Fernando Torres found himself at a career crossroads – remain in a successful and lucrative position or take a leap of faith and go into business for himself.
His “aha moment” occurred in a most unconventional place – the bathroom at his Scottsdale home. Torres, President of CimeX Control Pest Management, explains the moment.
“My former employer had a niche pest control component,” he said. “I helped them out, so I had to be licensed. I kept the license for three years. Then one day I’m taking a shower, trying to figure out my next career move. What do I see but a cockroach? For some reason, it hit me, ‘pest control.’ I told my wife. She said ‘I think that’s what you need to do.’ I was scared to start my own business. But then she told me, ‘We’re doing it.’”
CimeX Control Pest Management is celebrating its 5-year anniversary. It has moved into a larger space and has added new employees. More importantly, it has sparked a true entrepreneurial fire in Torres.
“Our growth has been organic,” Torres, 47, said proudly from his company office at 7652 E. Greenway Road, in Scottsdale. “I had some connections from my old job. I’m not a corporate kind of guy, so it was mainly by word of mouth that I let people know I was in business for myself.
“I would talk to commercial building managers and take them to lunch. ‘Just give me one building,’ I would tell them, and I will show you. I don’t have a sales pitch. I educate. Here’s how I can help you. Then it began to snowball,” he said.
Torres and his wife and co-founder, Ann Torres, launched CimeX in July 2017 when the LLC went live. Torres, working out of his home, bought a new truck and a backpack and took his first job on September 5. “It was just me and the truck,” he said.
The company did about $25,000 in revenue for the last four months of the year.
“A lot of friends were giving me business,” he said. “The fact that we actually launched the company was really cool.”
By 2018 CimeX was experiencing rapid growth. By the summer he couldn’t sustain it by himself. The money was rolling in but he didn’t have a life.
“My wife said, ‘Do you want to be self-employed or do you want to be an entrepreneur,” he recalled.
He hired his first employee. He was now working out of a storage bin. Revenue increased to $225,000 in his first year.
Company growth continued in 2019 with the addition a second employee and a move to an even bigger storage bin. The company had two trucks on the road. More important, Torres was now able to run the company, although he did continue to service some clients. The year ended with revenue surpassing $450,000.
Another employee joined the company in 2020 when revenue reached $700,000. Clients now included industry heavyweights Amazon, Cushman & Wakefield, CBRE, Prologis, Lincoln Property Company, and others. In 2021 Torres hired another employee and added an office manager, who worked from home. Revenue ballooned to $840,000.
“At this point, we really started to grow quickly,” he said. “People were now promoting the company; we also picked up some condominium projects providing termite control services.”
Torres sits confidently behind his desk at the company’s new location, tucked away among an array of businesses in the shadow of Scottsdale Airpark. He employs four full-time techs, and the office manager now actually sits in the office.
What’s next for Ann and Fernando Torres and CimeX?
“We are on track to realize $1.1 million in revenue this year,” he said. “It’s going to be exciting to use have those seven figures in our books. The next 5 years? I don’t want to grow too big. I want to create a business that treats employees the way I always wanted to be treated when I was one.”
CimeX has already branched out with work in Casa Grande and Maricopa. Torres said he is eyeing the Tucson market since many of his Valley clients have property there as well. His plan is to buy a small pest control company with a name and presence in Tucson and rebrand it. In the next three years, he would also like to buy his own commercial building and lease out the extra space.
“I don’t want to be the biggest, I want to be the best,” he said.
Torres recently joined the industry group IREM Greater Phoenix. He wants to make sure CimeX gives back to the community and participated in the annual Brokers for Kids fund-raising event in Scottsdale.
The name of the company? Cimex is a genus of insects that includes bed bugs. Torres said his wife had one request when they were selecting a graphic artist to design a logo.
“Ann said she didn’t want a bug on the company logo,” she said with a laugh.
To learn more about CimeX Control Pest Management visit cimexcontrol.com.
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