by Peter Madrid | Dec 13, 2021 | News & Updates
PHOENIX, ARIZONA (December 13, 2021) – As the self-storage industry in Arizona continues to be an economic force, the Arizona Self-Storage Association (AZSA) is reinstating its District Liaison program to give its members in the outlying rural areas a voice.
“It’s vital to have representation in parts of the state such as Flagstaff, Yuma, Lake Havasu and the White Mountains,” said AZSA Executive Director Amy Amideo.
This program was started by AZSA board members about 20 years ago. Since it was before the onset of social media, the board wanted and needed to get the word out about AZSA and its mission. It needed to have boots on the ground.
“The main purpose was to have that local person who knew the people and the town well be an extension of the AZSA board,” Amideo said. “They would have much more influence on owners attending regional meetings, workshops and networking events. Also, self-storage was a relatively new industry and the board wanted to make sure everyone was aware of the laws and statutes and to promote what was a novel idea then – collaboration. The board has always believed in strength in numbers.”
Hard work and dedication of early and current board members Chris Rudel, Martin Lorch, Bill Alter, and Richard Marmor assisted in getting the program off the ground. The foundation originally built by these board members is still strong, empowering the next generation of self-storage professionals and AZSA members.
When COVID-19 hit, AZSA’s in-person events were canceled. As AZSA celebrated its 25th anniversary this year, Amideo hit the road to Arizona’s outlying areas for a “Ruralpalooza” tour.
“While I was out meeting the owners and managers, I was also building relationships and seeing who might be a good fit for the District Liaison position,” Amideo said. “I also took over a position that was held by Anne Mari DeCoster for over a decade, so there was that need to introduce myself in person. With COVID shutting everything down, this was the only way I could think of to introduce myself and let them know that AZSA was here for them during this pandemic.”
With the industry changing at a rapid pace, including the advent of a new type of owner – investor/owner with little or no industry experience – the District Liaison is needed more than ever to help maintain the integrity of the self-storage industry. New changes have been put in place, Amideo said.
“The District Liaison will have direct access to a designated board member,” Amideo explains. “Prior to there was not an established executive director role or no designated board member to turn to. This will now be a mentor role for the AZSA board member.”
Expected positive results include re-establishing relations with long-time members and providing support and a sense of local community to new small facility owners/managers.
Doug Hayhurst, owner of Xtra Space Self Storage in Mayer, Arizona, has been in the mini-storage industry since 1973. Amideo brought AZSA’s “Ruralpalooza” to his facility, meeting with him and his manager.
“In the past, our dealings (with AZSA) were primarily over the phone,” Hayhurst said. “Having a liaison is a tremendous help to understand some of the issues we run into. It’s great to get that insight. It makes a big difference. The big operators, they’ve got a lot more access (to resources). The smaller ones, we’re the backbone of the business.”
By reinstating the District Liaison program, Amideo says AZSA has numerous goals in mind. They include member loyalty and collaboration; a truly statewide organization not just the major metros; continued education and networking at the granular level; an association that members are proud to say they are a part of; and helping to develop the emerging leaders of the industry.
“A priority is to re-establish our live, in-person events like workshops, networking and growing a community,” Amideo said.
Founded in 1996, the AZSA was created to present a unified voice on issues affecting the industry in the state and in its communities. AZSA continues that mission 25 years later with more than 400 storage operator and vendor members representing more than 600 self-storage businesses.
“AZSA has the direct line to what our regional issues are and the owners’ best practices to share with their communities and the state at large,” Amideo said. “It will give them a sense that they are part of something bigger; having everyone realize the importance of the association’s legal and legislative pillar. This is difficult to see on a daily basis, but it’s crucial when laws are being proposed that are unfavorable to our industry.”
For more information visit azselfstorage.org.
x, in x, Arizona.
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by Peter Madrid | Dec 9, 2021 | News & Updates
PHOENIX, ARIZ. (Dec. 9, 2021) – The Central Arizona Chapter of CCIM, commercial real estate’s global standard for professional achievement, has announced its leadership and board members for 2022.
Todd Hamilton, CCIM, SIOR, Citywide Commercial Real Estate, will serve a second year as President. The leadership team includes Brian Teske, CCIM, Casita Capital Realty, President-Elect; Sabrina Walters, SLW Realty Group LLC, Secretary/Treasurer; and Marina Hammersmith, CCIM, ORION Investment Real Estate, Immediate Past President.
Board members for 2022: Chad Kirkorsky, Citywide Commercial; Nicole Marucci, Champion Title & Settlements Inc.; Bobbie Mastracci, CCIM, SIOR, Phoenix West Commercial; Belinda Rosthenhausler, CDC Small Business Finance; Brian Teske, CCIM, Casita Capital Realty; Sheila Long, Old Republic Exchange; Eli Mastracci, CCIM, Phoenix West Commercial; Jennette Bennett, CCIM, Kidder Mathews; Bettina Hunt, Healthcare Trust of America; John Kinser, Enterprise Bank & Trust; and Perry A. Gabuzzi, CCIM, Kidder Mathews.
Ad-hoc board member is Lisa Richardson, Real Living SJ Fowler Real Estate.
“I am so honored to serve another year as chapter President,” Hamilton said. “Our 2022 Board comprises seasoned commercial real estate professionals with a laser focus on growing the Central Arizona CCIM chapter and the pre-eminent CCIM education. We have a robust schedule of networking opportunities planned throughout 2022 and I can’t wait to get everyone together again.”
The CCIM Institute confers the Certified Commercial Investment Member designation. To earn the CCIM designation, commercial real estate professionals must complete more than 160 hours of case-study-driven education covering topics such as interest-based negotiation, financial analysis, market analysis, user decision analysis, investment analysis, and ethics in commercial investment real estate.
Candidates must also compile a portfolio demonstrating the depth of their commercial real estate experience and pass a comprehensive examination.
Learn more about CCIM Central Arizona Chapter: centralazccimchapter.com.
2022 leadership (left to right): Marina Hammersmith, Belinda Rosthenhausler, Sheila Long, Sabrina Walters, Chad Kirkorsky, Brian Teske, Todd Hamilton, Eli Mastracci, and Bobbie Mastracci.
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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 www.ccim.com.
by Peter Madrid | Dec 8, 2021 | News & Updates
PHOENIX, ARIZ. (Dec. 8, 2021) – NAI Horizon represented the tenant, a wealth management and retirement financial planning firm, in a long-term office lease at Connexion @ASU Research Park in Tempe.
NAI Horizon Associate Lori Kahn represented Martinsen Wealth Management, LLC in the long-term lease at 7855 S. River Parkway in Tempe.
The financial planning firm will occupy 2,890 SF of the Connexion @ASU Research Park, which totals 50,208 SF.
“We are thrilled to have found Connexion at ASU Research Park for Martinsen Wealth Management’s rapidly expanding business,” Kahn said. “The building’s proximity to the Loop 101, along with its beautiful campus and high-end tenants, make this the perfect location to service Mr. Martinsen’s growing client base in the Southeast Valley.”
The landlord, BIDDULPH-PEORIA, LLC, of Phoenix was represented by Gregg Kafka with Lee & Associates.
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 7, 2021 | News & Updates
PHOENIX, ARIZONA (December 7, 2021) – NAI Horizon represented the sellers in the $1.525 million disposition of 3.4 acres. The buyer is currently rezoning the parcels from S-1 to CP-GCP in the highly sought-after Phoenix Sky Harbor submarket.
NAI Horizon Senior Vice President Rick Foss represented the sellers, Jeanne and Larry Blackketter of Phoenix in the land sale at 5815 South 36th St., in Phoenix.
The land is surrounded by the South Mountain Business Park, the Eaton 40th Street Business Park, and AIP South 40 Distribution Development. The buyer will construct an industrial property for a tenant who has committed to lease the property, Foss said.
“This is the last industrial piece between two and five acres that was available for purchase in the submarket,” Foss said. “It went under contract as the highest priced for land without I-10 frontage that had been recorded.”
Foss specializes in building and land sales in the Sky Harbor/Tempe submarket
The developer, CTC Properties, LLC, was represented by Mike Parker with CBRE.
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 7, 2021 | News & Updates
SCOTTSDALE, Arizona (Dec. 7, 2021) – As one of the Valley’s hottest municipalities for new commercial growth, Buckeye is expected to experience a medical office building boom as the young-family oriented city continues to grow.
“Talk about an underserved market when it comes to medical office space,” said Andrea Davis, CCIM, Principal of Andrea Davis CRE. “We’re working with a developer (Magnat Group) that understands the demand in Buckeye and this may be one of many. There is a need in this bustling Southwest Valley city for everything from women’s services to pediatrics to imaging to specialty services to outpatient facilities.”
Magnat Group is developing Sundance Medical Center, which will be located at the NWC of Yuma Road and Sundance Parkway in Buckeye. The two-story medical office building will total 43,600 SF.
According to CoStar data, the Southwest Outlying Submarket is one of the smallest in the Valley with roughly 310,000 SF of office space. The vacancy rate has risen moderately over the past 12 months, and at 1.9%, the rate was a touch higher than the long-term average as of 2021 Q4. Interpretation – there is little, if any, inventory to lease or purchase for business owners.
Annual net absorption came in at negative 6,000 SF over the past year. The story improves over a longer period of time. Over the past five years, the submarket has posted net absorption of about 1,300 SF per year, on average. Rents grew by 3.1% over the past year, which is right in line with the impressive decade-long annual average in Southwest Outlying.
There are no supply pressures on vacancy or rent in the near term, according to CoStar with no new product under construction. This lack of construction extends more than 10 years since an office project was delivered in the submarket.
“The type of client we’re seeing demand medical office space in Buckeye seems to be large medical users,” Davis said. “These users are requiring 5,000 square feet to 20,000 square feet versus the average medical user size of 2,500 square feet to 3,000 square feet.”
As the largest Valley city in terms of size – 640 square miles – Buckeye boasts more than 91,000 residents, an 80 percent increase from 2010, according to the city website. The Maricopa Association of Governments predicts Buckeye’s population will balloon to 305,000 residents by 2040.
Recently it landed KORE Power, a lithium-ion battery manufacturer reported to add more than 3,000 well-paying jobs to West Valley. Buckeye also boasts Verrado, an 8,800-acre master-planned community.
ABOUT ANDREA DAVIS CRE
Andrea Davis, CCIM, has practiced commercial real estate for more than 20 years. Davis’ breadth of knowledge stretches from developers to landlords to buyer/tenant representation and investments. Within the commercial real estate industry, Davis has won numerous awards. Andrea Davis CRE is listed among the top 10 in Ranking Arizona for the category of Office Brokerage. Her book, SimpLEASEity™, focuses on leasing and is the first in a series of commercial real estate guidebooks. Her next book, Simply Own It, the American Dream, is forthcoming this year. For more information visit andreadavis.co
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by Peter Madrid | Dec 6, 2021 | News & Updates
PHOENIX, ARIZ. (December 6, 2021) – CDC Small Business Finance, a community leader in the economic development field, is the No. 1 U.S. Small Business Administration lender among 7A and 504 firms for the fiscal year 2021.
CDC Small Business Finance is also Arizona SBA 504 Lender of the Year for the fourth straight year. A total of $793.7 million was financed in commercial real estate, over 8 million square feet of commercial real estate was financed, and 7,446 jobs were created and preserved.
“We thank our lending partners for allowing us to participate in their SBA 504 loan structure, the blended interest rate is averaging around 3.5-4.5% fixed for 25 years which is driving more demand on the loan product. Limited inventory is forcing new construction, lenders are including large equipment and FF&E to customize the owner’s specific requirements,” said Belinda Rosthenhausler, CDC Small Business Finance Vice President, Commercial Lender for Arizona and Nevada.
“We are incredibly gracious to our bank partners for helping CDC Small Business Finance finish as the No. 1 overall SBA lender and No. 1 SBA 504 lender in Arizona for fiscal year 2021.”
Some of those partners include JP Morgan Chase Bank, MidFirst Bank, First Fidelity Bank, Western Alliance Bank, First Bank, Bank of America, Desert Financial Credit Union, Meadows Bank, Western State Bank, Bank of the West and several others.
CDC Small Business Finance was also recognized among all SBA 504 lenders in the state last year for the greatest loan production and impact in Arizona.
The Phoenix office comprises Rosthenhausler and Chris Bane, Vice President, Senior Commercial Lender.
Fiscal year 2021 ended on Sept. 30.
For more information and current rates, visit cdcloans.com.
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by Peter Madrid | Dec 2, 2021 | News & Updates
TEMPE, ARIZ. (Dec. 2, 2021) – Reducing wildfire risk and restoring the forested watersheds that provide water to about half of the Valley is why company officials at Terracon, an engineering firm, decided to take action.
Terracon is the first Salt River Project commercial customer to contribute $10,000 to the SRP Healthy Forest Initiative™ (HFI).
“Terracon’s employee-owners are deeply invested in the communities where we live and work,” said Brent Borchers, P.E., Terracon regional manager for the Phoenix area. “We are proud to contribute to SRP’s Healthy Forest Initiative™ to help the water supply for the Valley for years to come.”
A drier than normal winter has been forecast for the Southwest U.S., which includes the forests of Northern Arizona bringing with it the potential for more devastating wildfires that will continue to threaten the state’s unhealthy forests and watershed. Over the past 10 years, large wildfires have ravaged the watershed in and around the Salt and Verde Rivers and more of these fires are expected.
The community-funded initiative is part of SRP’s 2035 Sustainability Goals to protect the health of the watersheds through forest restoration treatments and strategic thinning projects in the 8.3 million acres of watershed lands spread across Northern and Eastern Arizona.
“Terracon has been fortunate to have profitable operations in Arizona for nearly 30 years. In this season of giving, we wanted to impact our community in the broadest, most sustainable way possible,” said Chuck Reynolds, Terracon senior client development manager. “SRP’s stewardship of the watershed is historic and insightful for the continuing economic success of the Valley. We hope to inspire other companies to join us in this important partnership.”
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.
HFI allows SRP customers to invest $3 a month towards strategic forest thinning projects to help reduce the risk and devastating impacts of catastrophic wildfire and protect the health of the forests.
On average, the forested lands in the northern part of the state have about 100 trees per acre, but in many areas, there are thousands of trees per acre. Overcrowded forests can fuel large, uncontrollable wildfires with catastrophic impacts. Since 2000, 3.2 million acres have burned in and around the Salt and Verde River and East Clear Creek watersheds.
“We are grateful for Terracon taking action to invest in the protection and restoration of forests, and we invite other Arizona businesses to partner with SRP on important forest restoration projects. Not only is this important to the Valley’s water supply, but it’s also critical to the state’s tourism industry for the beautiful forests of northern Arizona and helps protect the residents who live there,” said Elvy Barton, SRP Forest Health Management Principal. “Our customers and community want to help prevent devastating wildfires and be a part of the solution together with SRP.”
The first two restoration projects are expected to begin later this year.
The strategic thinning effort:
- Removes small, unhealthy trees and leaves large, mature trees.
- Helps store more carbon in healthy trees.
- Creates a healthier ecosystem more resilient to the effects of climate change.
- Protects and enhances wildlife habitats.
- Brings jobs to the area.
SRP commercial customers can call (602) 236-5104 and residential customers can sign up at srpnet.com/healthyforest to partner with SRP on this extremely important initiative. SRP will match the donations up to $200,000 every year.
The goal of the Healthy Forest Initiative is to thin 500,000 acres of unhealthy overgrown forested lands by 2035.
For additional information about Terracon, visit terracon.com.
About SRP
SRP is a community-based, not-for-profit public power utility and the largest provider of electricity in the greater Phoenix metropolitan area, serving more than 1 million customers. SRP is also the metropolitan area’s largest supplier of water, delivering about 750,000 acre-feet annually to municipal, urban and agricultural water users.
An example of an unhealthy forest in Arizona. (Photo courtesy of SRP)
by Peter Madrid | Nov 30, 2021 | News & Updates
PHOENIX, ARIZ. (Nov. 30, 2021) – The Greater Phoenix Chapter of the Institute of Real Estate Management (IREM®), an international community of real estate managers dedicated to ethical business practices, has announced its leadership and board members for 2022.
Tyrel Williams, CPM, with ORION Investment Real Estate, will serve as President. The leadership team includes President-Elect Ed Valerio, CPM, Link Logistics Real Estate; and Treasurer Brent Penrod, CPM, Eisenberg Company.
The 2022 board also comprises Industry Partner Chairs Tom Coughlin, CPM, Everest Commercial Services and Melissa Boyle, CPM, Link Logistics Real Estate; Education Chair Eduardo Ugalde, CPM, ARM, MEB Management Services, AMO®; Legislative Chair, Carrie Temple, CPM, ViaWest Group; Membership Chairs Ann Boomsma, CPM, MEB Management Services, AMO® and Donna Olcavage, CPM, NaPali Management, Inc.; Marketing and Communications Chair Debbie Mitten, CPM, ViaWest Group; IREM Social Chairs Lauren Lacasse, CPM, Lincoln Property Company and Chianon Mutsiwegota, CPM, Texas Capital Partners; Corporate/Student Outreach Chair Yvonne Cisman, ARM, Wasatch; and DEI & Past President Rosalinda Bridges, CPM, Greystar.
“Our leadership team has worked very intentionally to build a strong, diverse Board of Directors who can continue to lead our chapter out of the disruption we’ve experienced over the last couple years, and into a new post-pandemic and more socially-aware era,” Williams said. “I am energized by, and so grateful for each person on this team. Each of them brings a rich background and unique talents that are really going to help move the needle on several key initiatives for our chapter. We’re going to have a lot of fun while we’re at it; 2022 is going to be a great year.”
IREM memberships empower college students, young professionals and industry veterans who are committed to career advancement. IREM credentials CPM, ARM, ACoM, and AMO demonstrate a commitment to good management. These certifications, along with its courses and an array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage.
About IREM
IREM® is an international institute for property and asset managers, providing complete knowledge to take on real estate management’s most dynamic challenges. That means knowledge prepared for the day-to-day and the one-of-a-kind: from solving the latest tenant crisis to analyzing market conditions. For over 85 years, our members have made us the world’s strongest voice for all things real estate management. Today, almost 20,000 leaders in commercial and residential management call this home for learning, certifications, and networking. For more information visit www.irem.org/
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by Peter Madrid | Nov 30, 2021 | News & Updates
PHOENIX, ARIZ. (Nov. 30, 2021) – The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, elected officers and board members for 2022.
The 2022 Executive Committee of NAIOP Arizona comprises Rusty Kennedy, CBRE, Board Chair; Cathy Thuringer, Trammell Crow Company, Vice Chair; John Orsak, Lincoln Property Company, Treasurer; Phil Breidenbach, Colliers International, Programs Chair; Derek Flottum, Irgens, Secretary; Danny Swancey, ViaWest Group, Immediate Past Chairman; and Jim Wentworth, Wentworth Property Company, Past Chairman once removed.
The new officers will lead the Arizona chapter which in 2021 became the fifth largest NAIOP chapter among 53 in the U.S. and Canada and surpassed 900 members for the first time.
“The growth of our chapter underscores its importance and relevance in Arizona’s commercial real estate industry,” said NAIOP Arizona President and CEO Suzanne Kinney. “We’re extremely proud of what the chapter has accomplished considering the economic challenges of the past year and a half. We are a resilient industry.”
Jenna Borcherding of VanTrust Real Estate, LLC starts her first three-year term on the Board of Directors in 2022. Matthew Krause of Krause Architectural & Interiors will serve a 1-year term as Developing Leader Board Liaison. Continuing Board members for 2022 are Chris Anderson, Hines; Chris Burson, Alliance Bank of Arizona; Danielle Feroleto, Small Giants; Jeff Foster, Prologis; Tom Jarvis, Willmeng; Jeff Moloznik, RED Development, LLC; Kate Morris, Transwestern; Michael Olsen, Globe Corporation; CJ Osbrink, Newmark Knight Frank; Darren Pitts, Velocity Retail Group; and Candace Rosauro, Layton Construction.
Molly Carson, Ryan Companies, is rolling off after serving two terms as well as being Arizona Chapter Board Chair in 2019 and Corporate Board Chair in 2021. Bryon Carney, Cushman & Wakefield, is also rolling off after serving two terms.
“Thanks to the leadership of our outgoing Chairman, Danny Swancey, and the entire Board of Directors, NAIOP Arizona has come out of the unprecedented challenges presented by the COVID-19 pandemic stronger than ever,” Kennedy said. “I’m looking forward to building on our many successes in 2022 and taking the association to the next level of member services, public policy advocacy, talent development and best-in-class events and educational programs.”
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.
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by Peter Madrid | Nov 30, 2021 | News & Updates
PHOENIX, ARIZONA (November 30, 2021) – NAI Horizon represented the seller in the disposition of 34 acres in Mayer, Arizona, upon which the buyer plans to build rental cabins.
NAI Horizon Senior Vice President John Filli and Vice President Christopher Lewis represented LAdventure LLC, Series BB, a Delaware limited liability company from Boonsboro, Maryland.
The land, which is approximately 15 miles southeast of Prescott, Arizona, sits at an elevation of 6,440 feet and is in close proximity to Mount Union, elevation 7,979 feet. The deal fetched $165,000.
The site also includes two patented gold mines. A patented mining claim is one for which the federal government has passed its title to the claimant, giving him or her exclusive title to the locatable minerals and, in most cases, the surface and all resources.
“Having to deal with the impact of the site’s 6,440-foot altitude, a very dense Ponderosa Pine forest, snow-covered access roads (for up to 7 months of the year), and a very remote location, made the close of escrow considerably more difficult than was originally anticipated,” Filli said. “Nonetheless, it is a pristine parcel of land ideal for cabins in the high country.”
The buyer, CHR Revocable Trust, dated September 30, 2018 of Phoenix, was represented by Tony Bagneschi with Insight Land & Investments.
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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