by Peter Madrid | Jan 16, 2024 | News & Updates
PHOENIX, Ariz. (Jan. 16, 2024) — Valley Partnership, the premier advocacy group for responsible development in the Valley, has selected the Class of 2024 ADVOCATES Program.
The Class of 2024 features 30 real estate, government affairs, financial, legal, and development professionals ages 35 and under. This is the 9th class of the ADVOCATES program, which was started in 2013 as a way to mentor the future leaders of the industry. Program participants spend the year learning from industry experts and networking with peers in the Valley.
“We are thrilled to welcome the newest class to the Valley Partnership ADVOCATES program,” said Clark Princell, President and CEO of Valley Partnership. “These young professionals are making great strides within their respective industries and will soon be leading important projects and initiatives within our community. We look forward to an exciting year of mentorship and networking ahead.”
The Class of 2024 includes:
- Madelaine Bauer, Quarles & Brady LLP
- Luke Capen, Evergreen Devco
- Morgan Carr, Cox Communications
- Krystal Carraway, The Weitz Company
- Josh Condon, Trademark Visual
- Haley Conway, HILGARTWILSON
- Guadalupe Ortiz Cortez, City of Goodyear
- Quinne Daoust, Bergin, Frakes, Smalley & Oberholtzer
- Travis G Dunn, Dibble
- David Fallon, Howard Hughes Corporation
- Austin Finch, Vestar
- Amy Forsythe, Southwest Traffic Engineering
- Ryan Hankins, Project Executive, Clayco
- Jake Hollingsworth, Okland Construction
- Aaron C. Jones, Alexander Building Company
- Julianna Morton, RED Development
- Austin ‘Sal’ Navarro, Ashton Woods
- Luke Roberts, RYAN Companies
- Brandon Samwick, El Dorado Holdings
- Sarah Shambrook, Dominium
- Nathan Shooks, Harvard Investments
- Braxton Smith, Arizona State University
- Rachael Smith, Norris Design
- Jen Springman, Horizon Strategies
- Joe Striler, FENNEMORE
- Jonathan Teeter, CBRE
- Hayden Thomson, FirstBank
- Violet Thornton, Manager of Design and Construction, Kitchell
- Jenner Van Kleunen, Preconstruction / Project Manager, Chasse Building Team
- Meg Zemlicka, Economic Development Specialist, City of Tempe
Participation in the ADVOCATES program includes monthly, in-depth learning sessions that focus on various topics including industrial, retail, and mixed-use high-rise infill development covering acquisition, capitalization, development, design, construction, and disposition.
The sessions will be led by subject matter experts with Valley Partnership Board Member Taylor Alvey, Vice President of Leasing at Vestar, serving as the ADVOCATES Board liaison, and Dylan Whitwer, Vice President, NAI Horizon as Co-Chair.
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About Valley Partnership:
Valley Partnership is the Valley of the Sun’s Premier Advocacy Group for Responsible Development. In its representation of the commercial, industrial and master planned real estate development industry, Valley Partnership presents a balanced, pro-development perspective and the Valley’s best industry education and networking opportunities. For more information about Valley Partnership and upcoming events, visit www.ValleyPartnership.org.
by Peter Madrid | Jan 16, 2024 | News & Updates
TUCSON, Ariz. (Jan. 16, 2024) – A leader in the Tucson office of Terracon Consultants, Inc., for the past 10 years, Derek D. Koller, CIH, CHMM, was promoted to Senior Principal.
An industry veteran of 15 years working in Tucson and Southern Arizona, Koller will continue to oversee the Terracon Tucson operation, which has experienced substantial growth over the past 5 years. Koller was promoted from Principal.
“I’m excited for Derek’s promotion to Senior Principal. He excels at promoting Terracon’s values of caring, excellence, courage, integrity, curiosity, and prosperity. His philanthropic endeavors with the Terracon Foundation are exemplary,” said Tracy Grover, Senior Vice President, Rocky Mountain Division Manager for Terracon.
Koller is the current Terracon Foundation Chair and has served on the Terracon Foundation Board since 2020. He has championed more than $100,000 in community and university grants in the Tucson community supporting the University of Arizona Colleges of Engineering and Public Health, the Southern Arizona Environmental Management Society (SAEMS), the Southern Arizona Research Science and Engineering Foundation (SARSEF), and Tucson Clean and Beautiful.
Koller grew up in Kwajalein in the Marshall Islands and lived in various areas of the country as his father worked for a defense contractor. He moved to Phoenix in the late 1990s and relocated to Tucson in 2006.
Koller holds a Master’s degree in Public Health: Environmental and Occupational Health from UA. He also earned a Bachelor of Science degree in Public Health from UA, graduating Magna Cum Laude.
Since 2024 he has served as president of the Environmental Professional Industry Charities (EPIC) and he served on the board of Tucson Clean and Beautiful from 2019 to 2023. He is a past president of SAEMS and is an active member of their scholarship selection committee.
He is an associate member of the Southern Arizona Chapter of CCIM and a member of the Metropolitan Pima Alliance, the American Society of Safety Professionals, and the American Industrial Hygiene Association.
Away from the office he enjoys spending time with his family and volunteering.
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About Terracon
Terracon is an employee-owned multidiscipline consulting firm comprised of more than 6,000 curious minds focused on solving engineering and technical challenges from more than 175 locations nationwide. Our talented employee-owners provide on-time and real-time data-driven insights to create an unmatched client experience that spans the lifecycle of any project, any size, anywhere. Start to explore with us by visiting terracon.com.
by Peter Madrid | Jan 10, 2024 | News & Updates
PHOENIX, ARIZ. (Jan. 10, 2024) – The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, elected officers and board members for 2024.
The 2024 Executive Committee of NAIOP Arizona includes John Orsak, Lincoln Property Company, Board Chair; Phil Breidenbach, Colliers, Vice Chair; Derek Flottum, The Opus Group, Treasurer; Jenna Borcherding, VanTrust Real Estate, Programs Chair; and Cathy Thuringer, Trammell Crow Company, Immediate Past Chair.
The new officers will lead the Arizona chapter, which is the fifth largest NAIOP chapter among 54 in the U.S. and Canada with 1,071 members.
“The new year provides a fresh chance to build upon on many accomplishments of 2023,” said NAIOP Arizona President and CEO Suzanne Kinney. “I’m looking forward to working with new and continuing board members to further enhance the value we deliver through our educational programming, mentorship, special events and public policy advocacy.”
Beginning their first 3-year term are Robert Guerena, GO Industrial; Kevin Miller, Kitchell Development Company, Byron Sarhangian, Snell & Wilmer; and Eric Whitehurst, Kimley-Horn. Tim Colquhoun, National Bank of Arizona, will serve as the ex-officio representative for the Developing Leaders in 2024.
Continuing board members for 2024 are Chris Anderson, Hines; Chris Burson, Flagstar Bank; Jamie Godwin, Stevens-Leinweber Construction; Jeff Moloznik, RED Development, LLC; Kate Morris, Transwestern; Michael Olsen, Globe Corporation; Laura Ortiz, Evergreen Development; and CJ Osbrink, Newmark.
Two of NAIOP Arizona’s long-time board members rolled off at the end of 2023, Rusty Kennedy with Stream Realty and Candace Rosauro with Layton Construction. Kennedy’s many years of involvement in NAIOP Arizona include chairing the popular Golf Tournament Committee and serving as Board Chair in 2022. Rosauro’s numerous roles included committee chair for Membership, Corporate Sponsorship, and DEI.
“As the incoming NAIOP Arizona Board Chair, I want to thank our members and leaders for creating such an incredible organization,” Orsak said. “Our market has become a magnet for highly creative and sophisticated real estate owners and users who continue to diversify and strengthen our economy. In 2024, NAIOP Arizona will continue to champion these opportunities as we continue to grow our membership, expand our member services and enhance the strength and reach of our public policy influence. I am honored to serve as the 2024 Board Chair and look forward to an active and successful year ahead.”
John Orsak, NAIOP Arizona 2024 Board Chair (left), and 2023 Board Chair Cathy Thuringer.
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 over 21,000 members in North America. The Arizona Chapter is among the largest in the bi-national network with nearly 1,100 members and is among the largest in the 54 chapter network. For more information, visit naiop.org or naiopaz.org.
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by Peter Madrid | Jan 9, 2024 | News & Updates
GOODYEAR, Ariz. (Jan. 9, 2024) – Beazer Homes, a well-established national builder that focuses on energy efficiency and high-performing homes, is bringing a new environmentally responsible neighborhood to Estrella in Goodyear.
Beazer Homes is proud to announce the grand opening of Acacia Foothills II on Saturday, Jan. 20. The new neighborhood will offer 69 of the most energy-efficient homes built by Beazer today. Energy Series READY homes at Estrella are so energy efficient that all or most of their annual energy consumption can be offset with renewable energy.
“Today’s homebuyers are looking for more than just a place to live. They want to feel good about the home they choose, the footprint they’re creating, or not creating, and we are happy to provide a home that fits those criteria,” said Beazer Homes’ Division President Ryan Johnson.
Acacia Foothills II offers buyers four single-level floorplans ranging from 1,500 square feet to 1,930 square feet. The 1,500 Chatsworth floorplan starts at $419,900 and consists of three bedrooms and two bathrooms.
The largest floorplan, Shiloh, is 1,930 square feet and offers four bedrooms up to 2½ bathrooms. Acacia Foothills is located on the most eastern edge of Estrella, offering vast views of the Estrella Sierra Mountains and unmatched access to hiking and biking trails.
Designed with the environmentally conscious and value-focused buyer in mind, Beazer continues its practice of building well-thought-out homes using materials designed to protect resources and save money. Each home will even be certified by the U.S. Department of Energy as a DOE Zero Energy Ready Home™, giving buyers another reason to feel good about owning in the West Valley’s premier master-planned community.
For the past six years, Beazer Homes has been recognized by the U.S. Environmental Protection Agency’s Energy Star Program as Partner of the Year for its commitment to creating energy-efficient homes.
The Jan. 20 grand opening is from 10:30 a.m. to 1:30 p.m. The Acacia Foothills II neighborhood is located at Estrella Parkway and West Rock Wren Road in Estrella. Guests can tour the model homes, take advantage of grand opening pricing, and enjoy complimentary food from The Fry Bread Truck. For more information visit the Beazer Homes Acacia Foothills II at Estrella website.
The largest floorplan, Shiloh, is 1,930 square feet and offers four bedrooms up to 2½ bathrooms.
About Beazer Homes
Headquartered in Atlanta, Beazer Homes (NYSE: BZH) is one of the country’s largest homebuilders. Every Beazer home is designed and built to provide Surprising Performance, giving you more quality and more comfort from the moment you move in – saving you money every month. With Beazer’s Choice Plans™, you can personalize your primary living areas – giving you a choice of how you want to live in the home, at no additional cost. And unlike most national homebuilders, we empower our customers to shop and compare loan options. Our Mortgage Choice program gives you the resources to easily compare multiple loan offers and choose the best lender and loan offer for you, saving you thousands over the life of your loan. For more information, visit beazer.com.
About Estrella
Home to more than 8,000 families, Estrella is a 20,000-acre mixed-use master-planned community located in the City of Goodyear, approximately 17 miles west of Phoenix. Estrella’s 500-plus acres of open space include more than 50 parks and 65 miles of paths and trails, plus 72 acres of lakes for kayaking, sailing, and catch-and-release fishing. Amenities include Starpointe and Presidio Residents’ Clubs, the Yacht Club of Estrella, two fitness centers, resort-style swimming pools, basketball, volleyball, pickleball, and tennis courts. Estrella is also home to a Nicklaus-design Championship golf course, The Golf Club of Estrella. For more information about Estrella, please visit estrella.com.
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by Peter Madrid | Jan 9, 2024 | News & Updates
PHOENIX, ARIZ. (Jan. 9, 2024) – RestorationHQ, a leader in the commercial restoration industry, is pleased to announce the appointment of seasoned industry leader Colleen LeBlanc as Director of Sales, Marketing, and Business Development.
LeBlanc’s impressive track record and expertise are expected to pave a path of growth and innovation for the company and its partners.
LeBlanc possesses more than a decade of valuable knowledge in business development, demonstrating exceptional leadership and commitment to excellence throughout her career. In her new role as Director at RestorationHQ, LeBlanc will utilize this extensive industry knowledge to spearhead strategic planning, business development, and team expansion.
“I am excited to embark on this new chapter with RestorationHQ, a company I deeply respect for its commitment to providing top-tier restoration services. I look forward to leveraging my expertise and guiding the team towards exceeding expectations,” LeBlanc said.
Sergei Guk, Principal/CEO of RestorationHQ, expressed his confidence in the appointment of LeBlanc.
“Colleen’s incredible depth of industry experience and leadership skills make her an invaluable addition to our team,” Guk said. “Her track record speaks volumes about her dedication to excellence.”
Guk also shared his enthusiastic outlook on the company’s growth.
“Together, we share a vision for expanding our service offerings, broadening our client base, and deepening our existing partner relationships through collaborative engagements. I am certain that with Colleen’s guidance, we are set to achieve new heights and create new benchmarks in the restoration industry.”
Outside of her professional commitments, LeBlanc is an active community volunteer, working with organizations such as Ryan House and Ironwood Pig Sanctuary, demonstrating a passion for making a difference that extends beyond her business interactions.
“RestorationHQ is confident that the appointment of LeBlanc as Director will foster continued success in delivering exceptional value to our clients and innovative growth in the industry,” Guk said.
About RestorationHQ:
RestorationHQ is a leading provider of comprehensive commercial-only restoration services. The company is dedicated to delivering top-quality solutions to its clients, ensuring their peace of mind in times of need- working on their behalf rather than for insurance companies. With a team of highly skilled professionals, RestorationHQ is committed to setting new standards in the commercial restoration industry. For more information visit RestorationHQ.us.
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by Peter Madrid | Jan 7, 2024 | News & Updates
Prescott office of Land Advisors Organization facilitated the sale of the 12.75-acre parcel, which is the last phase of the Solstice Ridge neighborhood, located within Prescott Lakes MPC.
Prescott, Ariz. (January 8, 2024) – Southwest Sunset Homes completed the purchase of 29 finished lots within the Prescott Lakes Master-Planned Golf Community for $5.365 million. The 12.75-acre parcel, which contains the 29 luxury home lots, is the final phase within the gated Solstice Ridge Neighborhood in the master-planned community.
In 2022, Southwest Sunset Homes acquired 23 finished lots located in another phase of the Solstice Ridge Neighborhood. Capri Barney with Land Advisors Organization’s Prescott, Arizona office represented Southwest Sunset Homes in both transactions. The seller was Solstice Ridge, LLC.
“Prescott Lakes and other high-end MPCs are continuing to attract buyers and the Solstice Ridge Neighborhood offers exactly what so many of these luxury buyers are looking for,” said Barney. “Undoubtedly, Southwest Sunset Homes will continue to be well received in the community. It’s wonderful to see them expanding their lot count here.”
Solstice Ridge, located within Prescott Lakes, is an exclusive gated community that offers a private golf course, a world-class fitness center, a recreation center with pickleball courts, and both indoor and outdoor pools. The Prescott Lakes Master-Planned Community spans over 1,100+ acres and is centered around the Hale Irwin-designed championship Prescott Lakes Golf Course. Located close to Downtown Prescott and major restaurants and retail, Prescott Lake residents enjoy resort-style living while being connected to the town amenities that Prescott offers.
About Land Advisors Organization
Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville and San Diego, California; Orlando, Jacksonville and Tampa Bay, Florida; Atlanta, Georgia; Charlotte, North Carolina; Greenville, South Carolina; Nashville, Tennessee; Boise, Idaho; Las Vegas, Nevada; Albuquerque, New Mexico; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah; Kansas City, Kansas; and Seattle, Washington. Stay connected with us on Twitter, Facebook and LinkedIn.
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by Peter Madrid | Jan 7, 2024 | News & Updates
PHOENIX, ARIZ. (Jan. 8, 2024) – AZCREW, the commercial real estate organization that exists to transform the industry by advancing women globally, kicks off 2024 with an overview of Arizona’s industrial market.
An outstanding panel of experts will discuss ono of Metro Phoenix’s most robust property types. Topics for the Jan. 16 event at SkySong include spec industrial construction, manufacturing, warehousing, and data centers.
According to JLL, Metro Phoenix continues to expand its role as a key industrial market in the national supply-chain. The Valley ranks in the Top 5 nationally for the following metrics over the past year: SF under construction, No. 2; SF delivered, No. 5; SF under construction as a percentage of inventory, No. 1; net absorption, No. 4; and rent growth, No. 2.
“AZCREW is excited to kick off the year with a discussion around emerging trends and projects within the Phoenix industrial market,” said AZCREW President Jenny Liles, Director Market Operations, CRESA. “Attendees will have the exclusive opportunity to hear vital insights from and network with industry leaders and position themselves for success in 2024.”
Moderating the event is Candace Rosauro, Director, Layton Construction. Panelists include Mathias Hughes, Vice President/Investment Officer, Prologis; Bill Jabjiniak, Vice President/National Community Engagement, EdgeCore; Jackie Orcutt, Senior Vice President/Industrial, CBRE; and Cam Robb, Senior Economic Development Consultant, APS.
The Jan. 16 event is from 11:30 a.m. to 1 p.m. at ASU SkySong, Building 3, Synergy I and II Conference Room, 1365 N. Scottsdale Road, Scottsdale.
The registration fee is $55 for members; $75 for non-members. Register here.
About AZCREW:
AZCREW is the local affiliate of CREW Network. CREW Network is at the forefront of achieving gender equity and greater diversity in commercial real estate. We will achieve this by transforming the industry by advancing women globally. Our membership offers unparalleled business development, leadership opportunities and networking both locally in your market and globally across our 12,000-member base. For more information visit arizonacrew.org.
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by Peter Madrid | Jan 2, 2024 | News & Updates
PHOENIX, ARIZ. (Jan. 3, 2024) – A robust medical office building market in Metro Phoenix, buoyed by the growth of its brokerage professionals, contributed to a fiscally fit 2023 for the Phoenix Kidder Mathews Healthcare Real Estate Services team.
The Metro Phoenix medical office building (MOB) market was vibrant during the third quarter of 2023. The direct vacancy rate was slightly lower from 12.5 percent in 3Q 2023 to 12.6 percent for 3Q 2022. Asking rates increased to $29.44/SF in 3Q 2023 compared to $27.89/SF in 3Q 2022.
As the Valley’s population grows, so does the demand for healthcare real estate. Closing the books on 2023, the Kidder Mathews Healthcare Real Estate Services team is celebrating a successful year. The team closed 200 deals (185 leases and 15 sales) totaling 884,500 SF.
“We’re firing on all cylinders, with each team member actively engaged and contributing with intention and attention to our unique capabilities,” said Senior Vice President Perry Gabuzzi. “We’ve identified opportunities to create value for our clients, by leveraging our unparalleled market knowledge through aggressive negotiation tactics and leasing strategies, creative and thoughtful marketing campaigns, and we’ve expanded our reach through focusing on the blocking and tackling of brokerage. We consistently strive to exceed our goals and we work hard while having fun together.”
Notable deals closed by the team in 2023:
Stapley Medical Center: 1840 and 1910 S. Stapley Drive, Mesa, Arizona; office to medical conversion, 180,000 SF; more than 57,700 SF of new, medical leasing in 2023, clinical spec suite planned for 2024.
McDowell Medical Center: 10825 W. McDowell Road, Scottsdale, Arizona; surgery center operator signed a 12,500 SF lease; the surgery center was built out and fully equipped at lease signing.
Paradise Valley Medical Office Building: 3805 E. Bell Road, Phoenix; sizeable renewal with a national healthcare provider for 17,250 SF.
In addition, the Kidder Mathews Healthcare Real Estate Services team grew to seven professionals, including the addition of Associate Zack Harris to assist with investment sales.
The rest of the comprises Senior Vice President Rachael Thompson; Senior Vice President Fletcher Perry; Senior Vice President Michael Dupuy; Associate Chad Sutton; and Client Services Coordinator Rachel Deckman.
Paradise Valley MOB: 3805 E. Bell Road, Phoenix
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with over 900 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. The firm performs $12 billion in transactions, manages 53 million square feet of space, and conducts 2,800 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
by Peter Madrid | Jan 2, 2024 | News & Updates
TUCSON, ARIZ. (Jan. 10, 2024) – TREND Report is pleased to announce the recipients of the 2023 Best-in-Class Broker® Awards for the second year, recognizing professionals who perform at the highest levels in commercial real estate sales in each category.
RED Comps’ research team verifies and records all commercial real estate sales in Pima County. From that information, TREND Report can present the “no-nonsense” Best-in-Class Broker Awards to those individual brokers who closed the highest overall transaction sales volume in commercial property sales for each market category each year. This year’s awards were calculated from Q4, 2022, to Q3, 2023, for a full year of sales.
Deal volume amounted to just over $1.8 billion for the period. The highest dollar volume was for multifamily, which achieved $515 million – a slump of 60 percent YOY. Only 659 commercial properties were traded during this period – the fewest since 2013, when RED Comps began tracking. Retail sales brought in the second highest volume, scoring $308 million, down by 56 precent YOY.
There’s little doubt that commercial real estate saw many hurdles in 2023, making data-powered information more essential than ever to investors and broker. Winners of the exclusive Best- in-Class Broker Awards represented approximately 20 percent of the total commercial sales this year.
Among the winners are representatives from national real estate powerhouses such as Marcus & Millichap, Land Advisors Organization, Cushman & Wakefield, and top brokers from local firms in Southern Arizona. All winners must be based in Southern Arizona. A Best-in-Class Award for “Good Works” in the Community was added.
TREND Report’s Best-in-Class Brokers for 2023 are:
- Multifamily Sales (100+ units apartments):Clint Wadlund and Hamid Panahi of Marcus & Millichap (IPA), second year;
- Multifamily Sales (less than 100 units apartments): Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR, second year;
- Industrial Sales:Stephen Cohen of Cushman & Wakefield | PICOR;
- Office Sales:David Volk of VOLK Company;
- Retail Sales:John Yarborough and David Carroll of Romano Real Estate;
- Residential Land Sales: Will White and John Carroll of Land Advisors Organization, second year;
- Industrial Land Sales:Gary Emerson of GRE Partners;
- Commercial Land Sales:Pat Welchert, SIOR, of Alpha Commercial Real Estate Services
- Hotel Sales:Rob Lamb of Long Realty;
- “Good Works” Developer:Humberto S Lopez, Co-Founder of HSL Properties.
All TREND Report’s Best-in-Class Broker Awards are based exclusively on sales volume transaction data from the RED Comps commercial real estate database, the most accurate, independently researched database of commercial real estate property sales information.
The “Good Works” Developer Award was based on the most generous acts of time and money to the community.
The winners will be honored at a Tucson-style happy hour and can use the Best-in-Class logo in future correspondence.
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by Peter Madrid | Dec 27, 2023 | News & Updates
MESA, ARIZ. (Dec. 27, 2023) – In its inaugural year, Streamline Capital Group witnessed remarkable growth and achievement. Following its initial startup phase earlier in the year, it successfully acquired approximately $9 million worth of real estate, encompassing nearly 60,000 SF.
“This success allowed us to forge new connections with investors both locally and nationwide,” said CEO David Hrizak. “The positive word of mouth about our endeavors resulted in more than $2.5 million being entrusted into our investments.”
Streamline Capital Group, a trio of professionals with the expertise and experience to find, finance, and manage properties, is now poised for an ambitious 2024.
Its three entities – Streamline Capital Group, Streamline Development, and Streamline Asset Management – will rebrand as The Streamline Companies. Also in 2024, the firm will launch its first general fund tailored for accredited investors. This initiative aims to pool together a larger set of resources, providing enhanced opportunities for its clients. On Jan. 8 the fund will launch with the goal of raising $15 million to acquire five to six additional properties.
“We are excited to announce Streamline Investment Group III. This Real Estate Fund will give the us the buying power to acquire multiple investment properties in 2024 thereby offering our investors greater opportunities and diversification,” Hrizak said.
In June, Streamline Capital Group closed its first deal, a 39,000 SF multi-tenant asset in the “Arcadia Lite” Neighborhood. It purchased the former Camelhead Business Center at 2600 N. 44th St., in Phoenix for $5 million. The asset is being rebranded as The Grand on 44th.
The Grand on 44th features two structures: Building A is +/- 9,173 SF; Building B is +/- 30,199 SF. The site is zoned R-5, providing flexibility for the 1.61-acre parcel. Its centralized location provides exceptional access to Phoenix Sky Harbor International Airport, the Loop 202, Interstate 10, and SR 143 and is conveniently accessible from the core of Phoenix, Tempe and Scottsdale.
Renovated office suite at 2600 N. 44th St., in Phoenix
More than $750,000 of capital improvements have been invested in The Grand on 44th since the acquisition. The exterior has a new look with remodeled landscaping, color scheme, and marquee signage coming soon. Upgrades to the mechanical and lighting systems will improve energy efficiency and vacant units have been updated as spec units and are move-in ready.
The second capital raise, Streamline Investment Group II, LLC, which took only two weeks to complete, will be utilized to acquire the property at 1234 S. Power Road in Mesa, Arizona. The asset is an 18,000 SF, two-story office building. It features a mixed group of medical and professional services tenants.
“We couldn’t have made it this far if not for the collaboration with a local bank, Republic Bank of Arizona,” Hrizak said. “In a climate where financing has been difficult, they have been with us all the way.”
The firm’s other principals, Frank Stirpe and Scott Roney, bring diversity to the group with legal, operations, project management and marketing proficiencies.
Stirpe excels in the fields of business, large-scale organizational operations, and education. His innovative leadership propelled him to rapid advancement in the fields of educational operations and business. He brings to the firm a wealth of experience in marketing, operations, and project management.
Roney possesses more than 30 years of experience practicing complex business and commercial law and has held senior leadership roles in global industrial companies. He served as a corporate officer of a publicly traded Fortune 100 company.
“Our core mission is to leverage the power of vertical integration across our three entities, providing unmatched service across all aspects of the real estate industry. Whether a client’s needs lie in construction and development, real estate investments, or asset management, Streamline Capital Group is committed to addressing them comprehensively, delivering results while optimizing cost-efficiency and profit generation, all within specified timelines,” Hrizak said.
In 2001, Hrizak formed Burzak Investment Group, Inc., with the goal of locating and identifying real estate development opportunities, either as ground-up development or redevelopment of existing properties. He directed the company’s successful participation in the office, industrial, medical, retail, and residential sectors. Investments included buy, build, and hold-for-cash flow and buy, build, and sell projects.
In 2010 Hrizak founded general contracting firm Streamline Construction & Development Corp. Burzak and Streamline Construction & Development together have facilitated and executed investments totaling more than $100 million.
Streamline Capital Group also made it a priority to give back to the community. This holiday season it chose to support the Superstition Community Food Bank in Apache Junction.
“Thank you for being an outstanding group of individuals. We and I appreciate your dedication to business development and your power in the philanthropy world,” said Lynn Hanson, Board President of the Superstition Community Food Bank.
For more information visit streamlinecapitalgroup.net.
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The Grand on 44th, 2600 N. 44th St., in Phoenix
