by Peter Madrid | Dec 16, 2021 | News & Updates
PHOENIX, ARIZONA (December 16, 2021) – With the addition of industry veteran Perry A. Gabuzzi, CCIM, the Phoenix Kidder Mathews healthcare real estate team bolsters its market expertise and boasts an expansive portfolio of medical office listings in the Valley.
Gabuzzi, a Senior Vice President, joins the team of Senior Vice Presidents Michael Dupuy and Fletcher Perry, and Vice President Rachael Thompson. The team represents clients in the leasing, acquisition, and disposition of healthcare real estate.
Its platform of services includes new lease negotiations, lease renewal and renegotiation, lease vs. own scenarios, occupancy and operational cost analysis, site evaluation, demographic and market analysis, space planning, and negotiating tenant improvement allowance.
“Perry has been a friend since our first chemistry class together in high school. Over the past 20 plus years I’ve known Perry to be honest and hard-working. He fits really well with the culture we have established,” Dupuy said. “We’re excited about the market force he brings to the table. Our clients will absolutely benefit from this addition.”
Perry possesses a broad range of experience in both tenant and landlord representation for office and medical transactions. He is recognized in the industry for his market knowledge, ability to manage and uncover the complexities of transactions, and for providing excellent service while adding maximum value to his clients.
Gabuzzi joins Kidder Mathews after an 8-year stint as Director, Brokerage Services, at The Plaza Companies. His experience also includes Senior Associate at Transwestern for 5 years.
A Phoenix native, Gabuzzi is a board member with the CCIM Central Arizona Chapter. He is also a member of NAIOP Arizona and the National Association of Realtors (NAR).
“I’m thrilled to be part of such a fantastic group at Kidder Mathews. I believe this move without a doubt allows us to create the most dynamic, knowledgeable, and skilled healthcare real estate team in the Valley,” Gabuzzi said. “This merge gives us the ability to provide the highest level of quality services for our clients moving forward.”
Gabuzzi earned a BS in marketing with a minor in psychology from Arizona State University. Gabuzzi and his wife Christine are the parents of five boys ages 22, 18, 16, 4, and 2. He is involved in coaching football, basketball, and baseball teams over the years. Away from the office he enjoys working out and spending time with his family.
Gabuzzi has volunteered countless hours working with the youth and the community through various organizations including Andre House of Arizona, The Salvation Army, National Youth Sports, and numerous others.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast with more than 700 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project and construction management, and debt and equity finance services for all property types. It performs $7 billion in transactions, manages more than 51 MSF of space, and conducts more than 1,500 appraisals annually. For more information visit http://kiddermathews.com/locations/phoenix.php.
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by Peter Madrid | Dec 16, 2021 | News & Updates
PHOENIX, ARIZONA (December 16, 2021) – Two land sales totaling $7.6 million and two industrial building sales totaling $2.35 million highlight recent deals closed by NAI Horizon professionals. The four deals total almost $10 million ($9.97 million).
Sale Transactions:
Mark Wilcke negotiated the sale of 21.35 acres, representing the buyer, RCI Properties, LLC, for $4.185 million. The property is located at Lots 7 & 8 of Summit Business Park in Surprise, AZ. The seller, Capital VIII, LLC, was represented by Bill Honsaker with JLL.
Lane Neville and Logan Crum negotiated the sale of 6.86 acres, representing the seller, Park Corporation, for $3.439 million. The property is located at 115 W. Duval Mine Road, Sahuarita, AZ. The buyer, AMERCO Real Estate Company, was self-represented.
Mark Wilcke and Dylan Whitwer negotiated the sale of a 9,733 SF industrial building, representing the seller, Camping Investments, LLC, for $1.35 million. The property is located at 4427-4431 N. 27th Ave., Phoenix, AZ. The buyer, Southwest Behavioral Services, was represented by Laurel Lewis with NAI Horizon.
Joan Krueger negotiated the sale of a 4,000 SF industrial building, representing the seller, Sky Jett Holdings, LLC, for $1 million. The property is at 1345 W. Broadway Road, Mesa, AZ. The buyer, Tres Hermanos, LLC, was represented by Isaac Nieblas with InHouse VIP.
Troy Giammarco and Joe Pequeno negotiated the sale of a 5,458 SF office building, representing the seller, 8700 Kelton Campus, LLC, for $900,000. The property is located at 8765 W. Kelton Lane C3, Peoria, AZ. The buyer, Tagio, LLC, was represented by Zip Lucidi with West USA Realty of Prescott.
Matt Harper, CCIM and Tom Bean, CCIM negotiated the sale of a 9,423 SF retail building, representing the buyer, El Divine Oasis, LLC, for $831,061. The property is located at 2715 W. Northern Ave., Phoenix, AZ. The seller, 2715 W Northern Ave., LLC, was represented by Rich Andrus and Stuart Milne with Menlo CRE.
Joan Krueger negotiated the sale of a 4,000 SF retail building, representing the seller, Jade Lion, LLC, for $520,000. The property is located at 9241 N. 6th St., Phoenix, AZ. The buyer, North Mountain Shoppes, LLC, was represented by Felipe DeSouza with Global Fund Real Estate Group.
Troy Giammarco and Joe Pequeno negotiated the sale of a 3,000 SF industrial building, representing the buyer, SFE Holdings, LLC, for $495,000. The property is located at 2942 N. Greenfield Road, Mesa, AZ. The seller, Turley Family Living Trust, was represented by H&M Real Estate.
John Filli and Christopher Lewis negotiated the sale of 34.37 acres, representing the seller, L Adventure LLC, Series BB, for $165,000. The property is located at ±15 miles SE of Prescott, Mayer, AZ. The buyer, CHR Revocable Trust, dated September 30, 2018, was represented by Tony Bagneschi with Insight Land & Investments.
Lease Transactions:
Chris Gerow, Shelby Tworek and Gabe Ortega represented both the landlord, Grace Power & McKellips Retail, LLC and Prescott Convention Center, LP, and the tenant, Planet Fitness, in a 132-month lease for 20,010 SF at 1919 N. Power Road, Mesa, AZ.
Mike Myrick represented the tenant, Danton S. Dungy, M.D. P.C., in a 63-month lease for 2,601 SF at 2121 W. Chandler Blvd., Chandler, Az. The landlord, YMC Arizona Properties, LLC, was represented by Adam Tolson with Lee & Associates.
Lane Neville and Logan Crum represented the landlord, CPLP 2944 N 44TH, LLC, in a 37-month lease for 3,600 SF at 2944 N. 44th St., Phoenix, AZ. The tenant, Campbell Fisher Design, Inc, was represented by Tim Fisher with Fisher Associates, LLC.
Laurel Lewis represented the tenant, Vocational Development Group, LLC, in a 39-month lease for 3,651 SF at 8222 S. 48th St., Phoenix, AZ. The landlord, Alpine Regional Center, LLC, was represented by Jamie Swirtz with CBRE.
Matt Harper, CCIM and Thomas Bean, CCIM represented the tenant, Desert Ridge Vape Smoke Cigar, LLC, in a 65-month lease for 1,400 SF at 31313 N. Scottsdale Road, Scottsdale, AZ. The landlord, HE Scottsdale, LLC, was represented by Brent Mallonee with Cushman & Wakefield.
Joe Pequeno and Troy Giammarco represented the tenant, Heart of Wings Family Service, LLC, in a 38-month lease for 4,083 SF at 8433 N. Black Canyon Highway, Phoenix, AZ. The landlord, Exodyne Business Park, was represented by Jonathan Levy with SVN Desert Commercial.
Chris Gerow, Shelby Tworek and Gabe Ortega represented the landlord, CP6TB, LLC, in a 63-month lease for 1,596 SF at 8360 W. Thunderbird Road, Peoria, AZ. The tenant, Mint Treasures, LLC, was represented by Kelly Hennessy with Corcoran Platinum Living.
Dylan Whitwer and Don Morrow represented the tenant, Mascom, LLC, in a 36-month lease for 4,315 SF at 7931 E. Pecos Road, Mesa, AZ. The landlord, Pecos Sossaman Commerce, LLC, was represented by Lance Clodfelter with Wilson Property Services, Inc.
Kevin Higgins represented the landlord, Bogle Family Realty, LLLP, in a 38-month lease for 2,606 Sf at 7227 N. 16th St., Phoenix, AZ. The tenant, The Camping Companies, was represented by Mark Wilcke with NAI Horizon.
Jay Mininberg and Thomas Bean, CCIM represented the tenant, Benny Blanco Tortillas, LLC, in a 60-month lease for 1,920 SF at 183 W. Apache Trail, Apache Junction, AZ. The landlord, Apache Junction Shoppes, LLC, was represented by Danielle Davis and Garrett Pedicini with LevRose.
Chris Gerow, Shelby Tworek and Gabe Ortega represented the landlord, The Weigel Family Legacy Trust, in a 60-month lease for 1,400 SF at 3129 Stockton Hill Road, Kingman, AZ. The tenant, Jungle Smoke N Vape, LLC, was represented by Johnny Meins with ReMAX Prestige Properties.
Dylan Whitwer, Don Morrow and Laurel Lewis represented the tenant, Veritas Funding, in a 14-month lease for 5,980 SF at 15880 N. Greenway-Hayden Loop, Scottsdale, AZ. The landlord, Magellan Health Inc., was represented by Trevor Pratt with JLL.
Kevin Higgins represented the landlord, Bogle Family Realty, LLLP, in 38-month lease for 1,508 SF at 7227 N. 16th St., Phoenix, AZ. The tenant, 1st Commercial Property Management, was self-represented.
Joe Pequeno and Troy Giammarco represented the landlord, Avondale Medical Campus, LLC, in a 39-month lease for 1,664 SF at 18001 N. 79th Ave., Glendale, AZ. The tenant, West Valley Speech Therapy, PLLC, was represented by Perry Gabuzzi with Plaza Del Rio Management Corp.
Matt Harper, CCIM represented the tenant, Stepping Stone Adult Development Center, LLC, in a 53-month lease for 1,560 SF at 12228 N. Cave Creek Road, Phoenix, AZ. The landlord, Hampton Plaza, LLC, was represented by Kyle Davis with CPI.
Joe Pequeno and Troy Giammarco represented the tenant, Milestone Recovery, LLC, in a 38-month lease for 4,052 SF at 3040 E. Cactus Road, Phoenix, AZ. The landlord, RocketBlue Holdings, LLC, was represented by Jonathan Levy with SVN Desert Commercial.
Matt Harper, CCIM represented the landlord, 43rd Avenue, LLC, in a 48-month lease for 1,450 SF at 9250 N. 43rd Ave., Glendale, AZ. The tenant, T&M Market, LLC, was represented by Joy Litrell with LRA Commercial Real Estate.
Matt Harper, CCIM represented the landlord, Ed Rapee Family Trust, in a 24-month lease for 1,400 SF at 515 E. Camelback Road, Phoenix, AZ. The tenant, A to Z CBD Shop, LLC, was self-represented.
Matt Harper, CCIM represented the landlord, CEMAD, LLC, in a 13-month lease for 1,040 SF at 4201 W. Bethany Home Road, Phoenix, AZ. The tenant, Variedades Kelyn, LLC, was self-represented.
Matt Harper, CCIM represented the landlord, 43rd Avenue, LLC, in a 25.5-month lease for 1,040 SF at 9250 N. 43rd Ave., Glendale, AZ. The tenant, Zen Medical Certifications, LLC, was self-represented.
Matt Harper, CCIM and Thomas Bean, CCIM represented the landlord, Sun City Professional Building, in a 18-month lease for 793 SF at 12630 N. 103rd Ave., Sun City, AZ. The tenant, ALK Asphalt, 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 | Dec 15, 2021 | News & Updates
PHOENIX, ARIZ. (December 15, 2021) – A 95,180 SF freezer/cooler/dry warehouse in which Trader Joe’s has been a long-time tenant was purchased by the popular grocery purveyor for $8.75 million; NAI Horizon represented the seller, a family trust from California.
NAI Horizon Senior Vice President Isy Sonabend and Executive Vice President Mark Wilcke represented the seller, the Smith Family Trust of Temecula, California. Trader Joe’s has been the tenant at the property, 10401 W. Van Buren St., in Tolleson, Arizona, since 2012.
Trader Joe’s exercised its purchase option and closed on the asset on Dec. 6.
“It’s been exciting to be a part the transformation of the Metro Phoenix industrial market from when we first executed the lease with Trader Joe’s until today,” Wilcke said. “The strategic and economic value of this asset made purchasing this real estate the worthy decision to make.”
Built in 1996, the refrigerated/cold storage warehouse sits on a 353,499 SF lot. It is located at SWC Van Buren Street and 104th Avenue with easy access to Loop 101 and I-10 full diamond interchanges.
It features 46,000 SF of racked freezer/cooler warehouse space, ± 40,100 SF of fully racked dry warehouse space and a ± 6,400 SF office. It includes a secured concrete truck court and a storage yard.
Rob Stephens with NGKF represented the buyer.
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 | Dec 14, 2021 | News & Updates
PHOENIX, ARIZ. (December 14, 2021) — The Arizona Chapter of NAIOP, the commercial real estate development association, just released its 2022 legislative agenda.
NAIOP’s policy priorities focus on protecting the economy from damaging tax increases, improving certainty for developers engaged in complex projects that aid in business attraction, and returning control of the ballot initiative process to Arizona residents.
“On the heels of a very successful legislative session last year, we plan to continue the positive momentum in creating a policy environment that is ripe for new investment,” said NAIOP Arizona President & CEO Suzanne Kinney. “With the monumental changes of the past two years, 2022 presents a unique opportunity for our market to break away from the pack. We will aggressively pursue legislation that will help accelerate our movement towards Tier 1 status for business attraction and job creation.”
Last year, the legislature made significant progress in blunting the impact of income tax increases imposed on small businesses and other taxpayers through Proposition 208. By having the state backfill the income surcharge and creating a flat income tax rate for all taxpayers, businesses are better positioned to create jobs and recover from the impact of the COVID pandemic. NAIOP will continue to oppose legal efforts and new ballot initiatives that would prevent these protections from staying in place and reduce Arizona’s economic competitiveness.
Recent elections have made it clear that Arizona’s ballot initiative system no longer serves the intent of our state’s founders to be a mechanism for Arizonans to take matters of concern for a direct vote of the people. Instead, well-financed outsiders have abused the system to “try out” novel, high-risk policy ideas. After many years of being on the defense, it is time to bring back control to Arizona’s voters.
Reducing the commercial property tax assessment ratio remains one of NAIOP’s top policy priorities. We achieved major progress last year with a 2% reduction and will continue to work towards parity with other types of property owners.
In light of recent lawsuits over economic development incentives, NAIOP will work to refine the system so that complicated development projects that bring value to the community can avoid surprise lawsuits after many months of sunk costs and investment.
Finally, on the federal front, NAIOP will work with Arizona’s congressional delegation to prevent damaging tax policy proposals from going into effect, such as restrictions on 1031 like-kind exchanges, the taxation of carried interest as ordinary income rather than capital gains, elimination of the stepped-up basis for inherited assets, and removal of tax deductions for qualified pass-through entities.
Download NAIOP Arizona’s full 2022 Legislative agenda at this link.
About NAIOP
NAIOP, a 19,000+ member organization in North America provides unparalleled industry networking and education, and advocates for effective legislation on behalf of its members. It is the leading association for developers, owners and related professionals in office, industrial, retail and mixed-use real estate.
by Peter Madrid | Dec 14, 2021 | News & Updates
PHOENIX, ARIZONA (December 14, 2021) – The 15th Annual IREM-CCIM Economic Forecast, the premier real estate outlook each year, features one of the Valley’s top economic gurus, presents panels with local industry experts, and returns to an in-person event after going virtual this past January.
The event is scheduled for Friday, Jan. 14, 2022, at the Arizona Biltmore, 2400 E. Missouri Ave., in Phoenix. Registration and breakfast begin at 7 a.m. The program runs from 7:45 a.m. to noon. Registration is $109 for IREM and CCIM members; $119 for non-members; and $139 at the door.
This year’s keynote speaker is Elliott D. Pollack, CEO of Elliott D. Pollack and Company, an economic and real estate consulting firm in Scottsdale.
Pollack has degrees from Boston University and the University of Southern California. He has been a practicing economist for 46 years. For the past 31 years, he has been president of the economic and real estate consulting firm that bears his name.
Pollack has taught economics and has written more than 1,000 articles over the years. His job has been to help clarify how current and future economic conditions fit into the decision process, as well as to explain how past decisions relate to the present situation. The keynote address begins at 10:35 a.m.
“It’s always a pleasure for us (IREM) to work with CCIM to put on this fantastic event. Our committee of CPMs and CCIMs have worked very hard to plan an event everyone will be excited to attend, and that will provide timely, critical information as we look ahead in 2022,” said Tyrel Williams, CPM, ORION Investment Real Estate, IREM Greater Phoenix President.
This year’s industry panels:
- The office panel features moderator Andrew Cheney, CCIM, Lee & Associates; LJ Willis, Mid First Bank; Marina Hammersmith, CCIM, ORION Investment Real Estate; John Orsak, Lincoln Property Company; and Rosie Keller, Transwestern.
- The multifamily panel features moderator Mark Schilling, CPM, MEB Management Services, AMO; Shannon Hersker, Walker & Dunlop; Robert Hicks, Portico Property Management; Jay Ramos, Leon Capital Group; and Bill Hahn, Northmarq.
- The industrial panel features moderator Todd Hamilton, SIOR, CCIM, Citywide Commercial; Jenn Borcherding, VanTrust Real Estate; John Kinser, Enterprise Bank; Rob Martensen, Colliers International; and Angela Gomez-Jones, RPA, Link Logistics Real Estate.
- The retail panel features moderator Nick Miner, CCIM, ORION Investment Real Estate; Carole Schillne, Keyser; Michael Pollack, Pollack Investments; Neal Churney, CCIM, Alison Company; and Gary Shaw, Arcadia Management Group, Inc.
The event is co-sponsored by the CCIM Central Arizona Chapter (Certified Commercial Investment Member), commercial real estate’s global standard for professional achievement; and the Greater Phoenix Chapter of IREM (Institute of Real Estate Management), which comprises more than 295 professional commercial and residential real estate managers.
“This outstanding event always provides excellent insight into the dynamic Phoenix commercial real estate market,” said Hamilton, CCIM Central Arizona Chapter President. “The 15th annual edition is sure to usher in a year of even more change and potential turbulence. I can’t wait to hear what the experts have to say.”
Register at iremccimeconomicforecast.com.
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About IREM
IREM® is an international force of 20,000 individuals united to advance the profession of real estate management. Through training, professional development, and collaboration, IREM supports our members and others in the industry through every stage of their careers.
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 credentials, including the CPM®, ARM®, ACoM, and AMO®, demonstrates a commitment to, and passion for, good management. These credentials, along with our courses and an array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage. Information at info irem.org or iremphx.org.
About CCIM Institute
CCIM Institute created the language of global real estate investment. Our courses and worldwide community deploy commercial real estate investment methodologies and tools that speed the pathway between opportunity, a go/no-go decision and success for an asset, taught by instructors who are themselves industry leaders.
Today, the organization, through its 50 chapters, continues to innovate best practices and elevate the commercial real estate professional through its core designation program to earn the CCIM pin— real estate’s most coveted credential — and its topical education courses offered through the Ward Center for Real Estate Studies.
In addition, membership in CCIM includes the industry’s best technology and operational platform, allowing entrepreneurial and mid-sized businesses to compete with the largest multinational providers. Today, almost 70 percent of designees hold the title of owner, partner, principal, or president, representing an exclusive worldwide referral network of 13,000 members in 30 countries. Ultimately, CCIM represents a larger vision of the commercial real estate provider, leveraging investment analysis, opinions of value, and underwriting to become a leader in sourcing capital, building a cash-flow vehicle, and ultimately creating value. Information at ccim.com. Central Arizona chapter centralaz@ccim.net.
by Peter Madrid | Dec 14, 2021 | News & Updates
SCOTTSDALE, ARIZ. (Dec. 14, 2021) – A building/land portfolio sale and office property sale totaling $13.775 million, two retail property sales totaling $7.5 million, and the sale of an industrial building for $3.4 million highlight November transactions closed by LevRose Commercial Real Estate brokers. The five sales total $24.67 million.
The Kottler/Cosgrove team (Zak Kottler, Joe Cosgrove, Hunter Chasse, and Aaron Cook) represented the seller, Chalpin Family Enterprises, in the $8.775 million disposition of a Scottsdale Airpark portfolio comprised of a ±40,589 SF flex/hangar building plus an adjacent ±1.89 acres (±82,123 SF) of vacant land.
The property at 7428 and 7429 E. Karen Drive in Scottsdale is situated in the heart of the amenity-rich Scottsdale Airpark and is one of the largest sites sitting on the Scottsdale Airport Taxiway.
The existing building at 7428 E. Karen Drive previously served for many years as the corporate headquarters for Hi-Health, which has since fully vacated the property. The property was originally built in 1986 as an Office/Hangar building and expanded in 1999. The new owner intends to renovate and occupy the existing building while developing the vacant land at a later time.
7428 and 7429 E. Karen Drive in Scottsdale
The Kottler/Cosgrove team represented both the buyer and seller in the $5 million sale of 9089 E. Bahia Drive in Scottsdale. The office property totals 15,691 SF and was occupied by two tenants with brand new leases at the close of escrow.
Located within the much sought-after Scottsdale Airpark submarket, the asset was built in 2004 with major renovations completed in 2018. The stand-alone office building boasts impeccable Class A custom finishes throughout coupled with 100% occupancy which appealed to the out-of-state buyer who was seeking a well-positioned low maintenance asset in Arizona.
5929 W. Peoria Ave., in Glendale, Arizona
Keri Davies, Jason Reddington and Jon Rosenberg represented the seller, Triumph Glendale Crossing Acquisition, LP, in the $4.1 million disposition of a freestanding retail strip center at 5929 W. Peoria Ave., in Glendale, Arizona. The buyer was RIMIC Properties, LLC.
The strip center is well positioned on the hard SWC of 59th and Peoria avenues. LevRose also represented Triumph in the acquisition of the property in January 2017 for $3.025 million. This is the eighth transaction in Arizona for Triumph, all represented by LevRose CRE.
2270 S. Airport Blvd., Chandler, Arizona
Mark Cassell, Marty Maier, and Matt Beek represented the seller in the $3.4 million disposition of Chandler Airport Business Center, located at 2270 S. Airport Blvd., in Chandler, Arizona. The industrial building totals 19,000 SF and benefits from close proximity to Chandler Municipal Airport.
LevRose CRE represented the seller, Airport Business Center of Chandler, Inc., and the buyer, KFH CABC, LLC. The asset is located within proximity to Chandler Municipal Airport.
Aaron Norwood represented the buyer, DFP Properties, LLC, in the $3.4 million purchase of 881 N. Arizona Ave., in Gilbert, Arizona. The retail property, an auto dealership, totals 5,940 SF. The seller was Beverly Land Company, LLC.
881 N. Arizona Blvd., Gilbert, Arizona
About LevRose Commercial Real Estate/TCN Worldwide
LevRose is proud to be the sole Phoenix affiliate of TCN Worldwide. Formed in 1989, TCN is a consortium of networked independent domestic and international commercial real estate firms, which provides for complete, integrated real estate solutions across the globe. With approximately $41.3 billion in annual transactions and over 180 MSF under management, TCN Worldwide ranks as one of the largest service providers in the industry. An extensive range of real estate services and resources, coupled with a personal commitment to exceed client expectations, is what has made TCN Worldwide a leader within the global commercial real estate industry. For more information visit levrose.com.
by Peter Madrid | Dec 14, 2021 | News & Updates
PHOENIX, ARIZ. (Dec. 14, 2021) – AZCREW has elected the officers and directors that will lead Metro Phoenix’s premier women’s commercial real estate organization in 2022. AZCREW exists to transform the commercial real estate industry by advancing women globally.
The 2022 leadership comprises Heather Fox Skinner, CBRE, Global Workplace Solutions, President; Samantha Pinkal, Greater Phoenix Economic Counsel, President-Elect and Secretary; Lindsey Carlson, Colliers International, Immediate Past President; Amy Ferrari, Mode Commercial Real Estate, Treasurer; Alicia Jennings, RestorationHQ, Director; Jenny Liles, Cushman & Wakefield, Director; Elizabeth Paquette, Sonoran Property Construction, Director; and Michelle Rutkowski, MOR Studio, Director.
“As a member of multiple CREW chapters throughout my career, this organization has been instrumental in building my network, honing my leadership skills, and deepening my knowledge and perspective. I attribute a great deal of my personal success to the strength of our CREW; I am honored to lead our Arizona chapter next year,” Skinner said. “Hearing CREW members’ stories of success, resilience, and belonging fuel my passion to serve our members as we grow strategically in support of our mission.”
AZCREW’s focus remains to provide unparalleled membership value, focusing on quality programming and leadership development. AZCREW is committed to diversity, equity, and inclusion as evident by its CEO-driven pledge for action in CRE, signed by more than 50 company leaders.
“Thanks to the leadership of Lindsey Carlson and our entire board of directors, we finished 2021 strong with a notable uptick in applications for full and associate members,” Skinner said. “I am confident we will exceed our 2022 membership goals while consistently delivering exceptional value to our members.”
AZCREW’s 2022 strategic initiatives to further its mission include:
- Provide scholarships for local members to engage in leadership training through CREW Network Global Leadership Certificate Program and Leadership Summits.
- Leverage its expertise in diversity, equity, and inclusion (DEI) as the global leader on research surrounding gender and diversity in commercial real estate.
- Continue collaboration with neighbor chapters to facilitate shared best practices and business opportunities regionally and globally.
- Focus on long-term succession planning to develop leaders across the Valley as AZCREW positions itself for growth.
- Recognize the achievement of its members and their companies through award nominations and global recognition programs.
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 nearly 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 | Dec 13, 2021 | News & Updates
PHOENIX, ARIZ. (December 13, 2021) – The Southwest chapter of the Real Estate Investment Advisory Council (REIAC), a leader in educating and mentoring the next generation of commercial real estate professionals, has announced its leadership for 2022.
Karla Moran, Principal, Economic Development with SRP takes over as President.
Officers for 2022 are Arthur J. Ferrari III, LineageCRE, Vice President; Keyvan Ghahreman, Willmeng Construction, Secretary; Dick Lund, Biltmore Holdings, Program Chair; Chad Mantei, BBVA Commercial, Membership Chair; Phil McKenzie, KMPG, Treasurer; and Mark Singerman, the Rockefeller Group, Community Outreach Chair.
“I’m excited to be moving into the role as president, there is so much opportunity in our market and we’ve all been very busy the past couple of years,” said Moran, who at SRP works in collaboration with the Greater Phoenix Economic Council, the Arizona Commerce Authority, regional and state entities and local municipalities to help ease a company’s relocation process.
“I look forward to the dialogue that REIAC can create to help innovate and move our market forward with the high caliber of developers that we have as members,” Moran said.
The Southwest chapter of REIAC is one of the Valley’s most prestigious commercial real estate networking and mentoring organizations. Founded by businessman Larry Heath, REIAC Southwest celebrated its 20th anniversary in 2019.
REIAC has four regions in the U.S. and was established as a nonprofit trade association to provide a forum for the exchange of ideas, concerns and experiences among senior executives who conduct commercial real estate transactions.
The networking opportunities REIAC Southwest offers its members include four main evening programs per year and four breakfast programs with panelists discussing industry trends.
The distinguished speaker program has featured national industry experts such as Dr. Peter Linneman, Hessam Nadji, John Cushman, Gerald Hines, Sr., Dr. Michael Crow, Jerry Colangelo, Gary Knight, Jerry Moyes and many other industry and business leaders.
Arizona Congressman David Schweikert will be the featured speaker at the 2021 event on Dec. 16 at the Westin Kierland, 6902 E. Greenway Parkway in Scottsdale.
The event begins at 3:30 p.m. with registration and networking. The program begins at 4:30 p.m., followed by a networking reception at 5:30 p.m.
The event is open to the public and the registration fee is $30 for non-REIAC members. The event will include a meet and greet with ASU MRED and Junior Achievement students. Register here.
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by Peter Madrid | Dec 13, 2021 | News & Updates
TUCSON, Ariz. (Dec. 13, 2021) – The Terracon Foundation is pleased to announce the award of a $10,000 grant to the University of Arizona College of Engineering to help support Geotechnical and Civil Engineering Student Stipends.
A $ 3,500 local community grant was also awarded to Tucson Clean and Beautiful, Inc. to help support the Youth Environmental Leadership & Action (YELA) Mentoring Program.
“I am proud to be a Terracon employee-owner and thankful that they give us opportunities to advocate and support organizations in the communities where we work and live. We are proud of our employee-owner involvement in both these organizations,” said Derek D. Koller, CIH, CHMM, office manager in Terracon’s Tucson office, who championed the grants.
Since 2015, the Tucson office has championed $31,000 for the University of Arizona’s colleges of Engineering and Public Health and $28,500 in community grants. To date, the Terracon Foundation has granted more than $3 million to community organizations, universities, dependents of employees, and for disaster relief efforts.
For more information about the Terracon Foundation and other organizations it has supported, visit terracon.com/foundation.
Terracon is an employee-owned engineering consulting firm with more than 5,000 employees providing environmental, facilities, geotechnical, and materials services from more than 150 offices with services available in all 50 states. Terracon ranks 24th on Engineering News-Record’s 2021 list of Top 500 Design Firms. For additional information about Terracon, visit terracon.com.
A $ 3,500 local community grant was also awarded to Tucson Clean and Beautiful, Inc. to help support the Youth Environmental Leadership & Action (YELA) Mentoring Program.
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by Peter Madrid | Dec 13, 2021 | News & Updates
Western Wealth Capital provides free December rent for 58 families in communities it serves
Phoenix, Arizona (Dec. 13, 2021) – Western Wealth Communities and Western Wealth Capital (WWC) were humbled to again share the annual Rent-Free Christmas program and provided free rent in December for 58 deserving families – one in each community WWC serves – so they may use those funds to instead create a Christmas/Holiday memory with their family.
As part of the program, 14 families in 2021 also received a full Christmas package, including food vouchers, and presents for the entire family. The goals of WWC and Western Wealth Communities are to help lift some financial and emotional burdens for these hard-working individuals and families this holiday season.
In November, WWC chose a family at Presidio North Apartments, 17031 N. 11th Ave., and Sierra Pines, 9401 N. 31st Ave., both in Phoenix.
“No parent should ever have to decide between keeping a roof over a child’s head or putting a present under the tree on Christmas Eve, but so many parents do. And especially this year, with all of the uncertainties and challenges this pandemic has brought, I am proud that WWC continues this tradition,” said WWC CEO Janet LePage.
“As the holiday season comes into full swing, we’re thinking of the many things that might create stress for families as we continue through these unprecedented times — such as meals to prepare, traditions to uphold or create, whether or not to attend or host events, and gifts to buy or make. But for many families, the biggest stress of all is how to afford to provide a Christmas for their family when budgets are already tight especially if they are dealing with lost income or unexpected medical expenses,” LePage said.
WWC has been able to lift that burden for many deserving families over the past six years. In 2015, it decided as a company to provide one family in need at each of its multifamily communities with a rent-free December. This was a tangible way WWC could have an impact on the families and children that lay their heads to rest each night in WWC’s 58 apartment communities across the nation.
In addition to the 58 families who received free rent, WWC also provided 14 families with a full Christmas memory with decorations and gifts.
“We serve a variety of residents, many in challenged neighborhoods, where purchasing gifts and providing a holiday meal is a financial burden every year. Lifting the spirits of these families and helping to provide a joyful holiday season for many deserving, hard-working families throughout the Phoenix area is our mission with our ‘Rent-Free Christmas’ program,” LePage said.
Each August, WWC also hosts a school supply giveaway. It helps take away the financial burden for families of purchasing $100 or more in backpacks and school supplies. The initiative is called “We’ve Got Your Back,” and provides each school-age child in WWC apartment communities throughout the area with supplies that are suggested or requested by the local school district as well as a brand-new backpack.
“There are numerous ways companies can give back to the communities they serve. We are so proud of the impact that both Rent-Free Christmas and We’ve Got Your Back have on our community members,” LePage said. “We’re proud to have given out more than $300,000 in free rent and school supplies over the past five years and lifted burdens for hundreds of hard-working families.”
