by Peter Madrid | Mar 25, 2025 | News & Updates
FLAGSTAFF, ARIZ. (March 25, 2025) – Liv Communities, in partnership with Wespac Residential, Inc., and Vintage Partners, has officially broken ground on Liv Sky Cottages, an innovative housing development in the Timber Sky master-planned community.
The groundbreaking ceremony held last month brought together leadership from Liv Communities, Wespac, and Vintage to celebrate the beginning of this transformative project.
Located on 32 acres, Liv Sky Cottages will feature 203 thoughtfully designed rental homes, including 117 one-bedroom, 35 two-bedroom, and 51 three-bedroom residences. In alignment with Flagstaff’s affordable housing initiatives, 10 percent of these homes will be reserved for individuals and families earning below the area’s median income
“Liv Sky Cottages reflects our commitment to creating vibrant, connected communities where residents can thrive,” said Heidi Arave-Noonan, Vice President of Liv Multifamily. “Flagstaff’s natural beauty and strong community spirit make it an ideal location for this project, and we’re excited to introduce a new way to live with sustainability, connection, and well-being at the forefront.”
Liv Sky Cottages will seamlessly integrate with Flagstaff’s unique landscape, incorporating sustainable building practices and adhering to International Dark Sky standards to minimize light pollution. Residents of Liv Sky Cottages will enjoy a thoughtfully designed living experience with a variety of amenities that promote connection, wellness, and sustainability.
The community will feature a dog park, playground, garden beds, walking paths, and gathering spaces to foster a vibrant neighborhood atmosphere. Additional conveniences include bike storage, a compactor, and EV chargers, as well as we hope to include an Envoy car-sharing service to support eco-friendly transportation options.
For outdoor recreation, residents can enjoy three frisbee golf targets, a checker/chess area, and easy access to Flagstaff’s natural beauty. Select homes will also include solar panels, reinforcing the community’s commitment to sustainable living.
Wespac Residential is leading the site’s infrastructure development, which includes grading, earthwork, utility installation, concrete paving, landscaping, and site fencing. The project will also enhance local roadways with half-street extensions along US Route 66 and Woody Mountain Road, as well as improved pedestrian pathways and sidewalk extensions to enhance walkability.
“This project represents Wespac’s commitment to sustainability and community-focused development,” said Tyler Mark, Principal/Vice President at Wespac Residential, Inc. “Our team is thrilled to bring our expertise in construction and infrastructure to help create a living space that represents Flagstaff’s values and vision for the future.”
For more information or to join the waitlist, please visit livskycottages.com.
About Liv Communities
Liv Communities helps people live their BEST lives by developing, owning, and operating multifamily, build-to-rent, and 55+ active adult communities. With a focus on thoughtful design, premium finishes, resort-style amenities, and prime locations, Liv Communities creates vibrant neighborhoods that encourage connection, well-being, and a sense of belonging. Residents and team members enjoy extensive opportunities to engage in community activities, fostering meaningful relationships and building a true sense of community. Learn more at LivCommunities.com.
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by Peter Madrid | Mar 25, 2025 | News & Updates
PHOENIX, ARIZ. (March 25, 2025) – Fifteen individuals have been selected as the recipients of the annual NAIOP and Prologis Inclusion in CRE Scholarship for Young Professionals.
Two NAIOP Arizona members were among the scholarship recipients: Cassie Van Ess, Business Development, Wespac Construction, Inc., and Katie Hillowe, Senior Associate, Trammell Crow Company.
The program, now in its eighth year, is designed to prepare a pipeline of diverse talent for development and operations positions in commercial real estate by connecting young professionals with mentors and advancing their industry knowledge.
“The NAIOP and Prologis Inclusion in CRE Scholarship complements our local efforts to foster diverse talent and ensure a strong future for our industry. We are proud to see Cassie Van Ess and Katie Hillowe representing NAIOP Arizona among this year’s scholarship recipients,” said NAIOP Arizona President and CEO, Suzanne Kinney
As part of the program, each of the recipients will have the opportunity to earn the NAIOP Certificate of Advanced Study in Commercial Real Estate Development, delivered through courses in NAIOP’s Center for Education, at no cost. This comprehensive program is built on core competencies critical to success in the development industry.
“Cultivating talent is critical to the long-term success of the commercial real estate industry and remains one of NAIOP’s key priorities,” said NAIOP President and CEO Marc Selvitelli, CAE. “We are honored to acknowledge these exceptional professionals with scholarships and unique mentorship opportunities through our partnership with Prologis as they build their careers.”
Van Ess and Hillowe will be recognized at I.CON West, March 26-27, in Los Angeles, where they will connect with industry mentors and hear insights from industrial real estate leaders from across North America.
“At Prologis, our success comes from the different perspectives and backgrounds our people bring to the table,” said Megan Creecy-Herman, President, West Region, Prologis. “Supporting this program is another way to strengthen our industry—by opening our doors to a broader range of backgrounds, skills, and viewpoints.”
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 22,000 members in North America. The Arizona Chapter is among the largest in the 54-chapter binational network with nearly 1,100 members. For more information, visit naiop.org or naiopaz.org.
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by Peter Madrid | Mar 25, 2025 | News & Updates
SCOTTSDALE, ARIZ. (March 25, 2025) – Harvard Investments, a leading real estate development firm, proudly announces its commitment to planned growth, fostering talent internally with two new hires and promoting three dedicated team members.
Harvard Investments continues to strengthen its foundation for innovation and excellence with the following advancements:
- Nathan Shooks was promoted to Director of Development, Harvard FirstStreet;
- Cayley Wade was promoted to Senior Development Manager, Harvard Communities;
- Branden Lamb was promoted to Senior Financial Analyst, Harvard Investments;
- Janeen Hermanson was hired as Division Controller, Harvard Communities;
- Riley Bayze was hired as a Financial Analyst, Harvard Investments.
Shooks takes on an expanded role leading new development and capital markets for the growing Harvard FirstStreet build-to-rent division.
Shooks earned a bachelor of science degree in finance from Northern Arizona University. He is active in ULI Arizona, Valley Partnership, NAIOP Arizona, and NHRC. A native of Fountain Hills, Arizona, Shooks is a graduate of the Valley Partnership Advocates program. He is a 2-year employee of Harvard Investments.
Wade takes on expanded responsibilities as lead for existing Harvard Communities projects and new opportunities.
Wade, a native of Tempe, Arizona, holds a bachelor of science degree in accounting from the University of Arizona. She is active in WESTMARC, ULI Arizona, and Valley Partnership. Wade has been with Harvard Investments for 3 years.
Lamb takes on an expanded role in financial modeling and forecasting, cash flow management, ERP system reporting, and will assist finance on the growing build-to-rent division. He has been with Harvard Investments for 1 year.
A native of Phoenix, Lamb holds a bachelor of science degree in finance from Arizona State University.
Janeen Hermanson
Hermanson joins Harvard Investments from national homebuilder Taylor Morrison, where she served as division assistant controller. In her new role she oversees accounting operations for Harvard Communities. She works closely with the internal development/finance teams, tax, and audit partners.
A native Arizonan, Hermanson earned a degree from the Keller Graduate School of Management, DeVry University.
Bayze joins Harvard Investments from investment firm Vanguard. His duties now include financial reporting, managing project
Riley Bayze
cashflows, underwriting for new deals, and assisting in general financial operations. A Tucson native, Bayze earned a finance degree from UA in 2022.
About Harvard Investments
Harvard Investments, Inc. is a real estate investment and development company with real estate holdings throughout the western United States. Harvard combines experience, integrity, and financial stability to create high quality, environmentally sensitive, profitable communities including both large-scale master-planned communities and build to rent neighborhoods. Harvard’s Canadian parent, the Hill Companies, is a privately held diversified company involved in real estate development including construction and leasing of commercial office buildings and retail properties, oil and gas production and distribution, broadcasting, surety bonding, and insurance. The Hill Companies celebrates its 122nd year of continuous family ownership and operation in 2025. To learn more visit harvardinvestments.com.
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by Peter Madrid | Mar 20, 2025 | News & Updates
MESA, ARIZ. (March 20, 2025) – Streamline Capital Group, the investment arm of The Streamline Companies, is pleased to announce that industry expert Gannon M. Coffman has been named Director of Investor Relations & Capital Strategies.
Coffman possesses more than 11 years of experience in commercial real estate finance and equity placement. He will be pivotal in raising capital, structuring investment opportunities, and managing investor relations, ensuring that Streamline’s partners benefit from strategic, high-yield real estate investments.
Coffman has raised more than $80 million in private capital, working closely with high-net-worth and ultra-high-net-worth individuals, family offices, and institutional investors. His expertise spans multifamily, retail, and industrial acquisitions, as well as development financing and structured offerings under Regulation D 506(b) and 506(c).
His ability to strategically match capital with high-performing assets has made him a trusted advisor to developers, syndicators, and wealth managers.
“Gannon’s deep experience in real estate finance and capital strategies makes him a perfect fit for Streamline Capital Group,” said David J. Hrizak, CEO of The Streamline Companies. “His proven track record in raising capital and structuring successful investments will be instrumental as we continue to scale and provide high-quality opportunities for our investors. We are thrilled to have him on board.”
Before joining Streamline Capital Group, Coffman served as COO for a family office, overseeing a 4,000-unit multifamily portfolio. In this role, he gained hands-on experience in asset management, capital deployment, underwriting, and deal structuring, giving him a deep understanding of the full real estate investment lifecycle.
Coffman’s background in feasibility analysis, acquisition underwriting, and promoting structure design enables him to structure investments that maximize returns while mitigating risk.
“I’m thrilled to join Streamline Capital Group at such a dynamic time in its growth,” Coffman said. “My passion has always been connecting investors with high-quality real estate opportunities that generate strong returns while mitigating risk. Streamline’s vision and track record of strategic investments align perfectly with my expertise in capital structuring and investor relations. I look forward to expanding our network of partners and driving innovative investment solutions that create lasting value.”
Coffman, who holds a Masters in Real Estate Development (MRED) from the University of Arizona, is Certified Qualified Family Office Professional (QFOP).
A native of Chandler, Arizona, Coffman gives back to the community through coaching youth sports and mentoring. He is the proud father of four children. Away from the office he enjoys hiking, attending sporting events, and traveling with his family.
Streamline Capital Group entered the Arizona market in 2023 with the $5 million acquisition of a two-building complex totaling 39,000 SF, rebranded as The Grand on 44th, in the Arcadia Lite neighborhood. The property underwent nearly $1 million in renovations to modernize the facility and convert vacant spaces into ready-to-move-in suites, sparking interest in the asset.
Last year, Streamline Capital Group also acquired a Mesa office building at 1234 S. Power Road for $2.8 million, rebranding it as Twelve 34 South Power. It totals 13 suites, including the office of The Streamline Companies.
For more information about The Streamline Companies and investment opportunities with Streamline Capital Group visit thestreamlinecompanies.com.
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by Peter Madrid | Mar 17, 2025 | News & Updates
SURPRISE, Ariz. — Wespac Construction, Inc. proudly announces that the Surprise Crossings project has achieved LEED Silver Certification under the LEED v4 Core & Shell rating system.
This milestone underscores Wespac’s commitment to sustainable construction and creating high-performance, environmentally responsible buildings.
Surprise Crossings, 13301 N. 137th Ave., was designed to enhance energy efficiency, promote sustainable building practices, and minimize environmental impact. It totals 274,040 SF and sits on 16.23 acres. Key sustainability highlights of this industrial project include:
Sustainable Site Development:
Sensitive land protection strategies and rainwater management that ensure 90 percent of rainwater is managed on-site, reducing runoff and supporting local ecosystems.
- Heat island reduction measures, including high-reflectance roofing and landscape elements that mitigate temperature increases.
Water Efficiency:
50 percent reduction in outdoor water use through drought-tolerant landscaping and high-efficiency irrigation systems.
- Indoor water use reduction of up to 50 percent, utilizing low-flow plumbing fixtures to conserve thousands of gallons of water annually.
Energy & Atmosphere:
Optimized energy performance, incorporating advanced energy metering and demand response systems to monitor and reduce energy consumption.
- Renewable energy production and green power procurement, supporting a transition to sustainable energy sources.
- Enhanced refrigerant management to eliminate harmful chlorofluorocarbons (CFCs) and minimize ozone depletion.
Transportation & Accessibility:
Bicycle facilities and access to quality transit options, encouraging alternative commuting methods and reducing carbon footprints.
- Electric vehicle (EV) infrastructure, supporting the shift toward cleaner transportation solutions.
Materials & Resources:
Construction & demolition waste management, diverting waste from landfills through recycling and responsible disposal practices.
- Environmentally responsible materials, including products with Environmental Product Declarations (EPDs) and sustainable sourcing.
Indoor Environmental Quality:
High-efficiency ventilation systems, incorporating MERV 13 filtration for improved indoor air quality.
- Low-emitting materials to reduce indoor pollutants and ensure occupant health and well-being.
- Ample natural daylighting and quality views, fostering a more comfortable and productive indoor environment.
The certification of Surprise Crossings was made possible through a collaborative effort between project partners Panattoni Development Company, Cawley Architects, JLL, and EXP. Wespac extends its appreciation to all those involved in bringing this high-performance green building to life.
About Wespac
Established in 1991, Wespac Construction Inc. is a general contracting and construction management firm, offering pre-construction and construction services in various market sectors. From small tenant improvement projects to large shell and master-planned communities, Wespac is a true partner to our clients throughout the entire project lifecycle. We pursue the art of construction, while contributing knowledge, leadership, passion, and commitment to every employee, client, and project team. Wespac has offices in Phoenix and Flagstaff, Arizona. For more information visit www.wespacaz.com.
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by Peter Madrid | Mar 10, 2025 | News & Updates
PHOENIX, ARIZ. (March 11, 2025) ‒ Liv+ Union Peak, the newest addition to the diverse housing options in North Phoenix’s vibrant Norterra and Union Park communities, recently celebrated its grand opening with a ribbon-cutting ceremony.
The flagship 55+ age-qualified community at 25400 N. 21st Ave., offers an exceptional lifestyle for residents, blending upscale amenities with a friendly and engaging environment. Liv Communities, a developer and operator with an extensive track record of well-appointed rental communities known for offering robust lifestyle programming, curated an exceptional array of amenities to enhance an active and social lifestyle.
Liv+ Union Peak totals 145 units. It includes one-, two- and three-bedroom homes, some with garages.
“The Liv+ story goes back a decade. When USAA sold the land around its corporate headquarters, there was discussion about creating a vibrant community. USAA partnered with Sunbelt Holdings and turned that vision into a reality,” said Liv Executive Chairman Scott Brooks. “CBRE introduced us to Sunbelt President John Graham and his team. They unveiled the big plan for Union Park. They showed us where the community center would go; where they wanted a school in the community.
“They said they would like a senior community right in the middle. That was music to our ears. We had just opened LivGenerations Agritopia in Gilbert, and felt it was a great match to what we offered. For years, we offered full-service senior living – assisted living, memory care – with our LivGenerations product.
“We began thinking of a better solution to those ages 55 and better. People still seeking an active social life, continuing down a healthy journey, but more affordable. That’s when Liv+ was born. Our residents live their best lives; we live our best lives as well,” Brooks said.
Liv+ Union Peak is situated in the heart of Norterra and Union Park, which are sought-after communities in North Phoenix known for their blend of urban convenience and natural beauty. Liv+ Union Peak enjoys direct access to major transportation routes, including I-17 and the Loop 101, and is in proximity to retail and dining destinations at The Shops at Norterra.
Nearby outdoor activities include hiking and biking trails at the Sonoran Preserve and Deem Hills Recreation Area, Norterra Canyon Park, The 500 Club
(golfing), and cultural and artistic events such as a local farmers’ market and art classes and workshops.
“We’re thrilled to add another vital member to our community,” said Scott Yath, President of the Anthem Area Chamber of Commerce. “We’re happy with their decision to come here and celebrate the opening of this great project.”
Liv+ Union Peak features a sparkling lap pool and spa, pickleball and bocce ball courts, and even a pet spa. Other community amenities include a clubhouse, co-working spaces, a game room, fitness center, wellness spa with massage room and sauna, yoga studio and yoga lawn, rentable garages, carports, storage areas, community garden, outdoor barbecue and lounge areas, and a fire pit.
Apartment amenities include quartz countertops, designer interiors, water leak sensors, under cabinet lighting, Liv Smart home automation, ceiling fans, private patio/balcony, barrier-free units, walk-in closets, private wireless router in each unit, full-size washer and dryer, and USB outlets.
MT Builders served as the general contractor; Todd & Associates Inc. was the architect of record. Other project team members included Envision Design Solutions, interior design; Airpark Signs & Graphics, branding; Wood Patel, engineering; and Bakkum Noelke, structural engineering.
“This is an exciting day for us, bringing the first Liv+ product to the marketplace; the reality that it is today,” said Liv CEO Kevin Lindquist. “As others have said, this project has been years and thousands of hours in the making. Together, we have achieved something truly great for the community and our current and future residents.”
Taking part in the ribbon cutting at Liv+ Union Peak are (left to right) Chuck Finzer, Kevin Robleto, Heidi Arave-Noonan, Scott Yath, Abner Diaz, Katie Chambers, Don Hoekstra, William Fettis, Eric Johnston, Kevin Lindquist, and Scott Brooks.
About Liv Communities
Liv Communities helps people live their BEST lives by developing, owning, and operating multifamily, build-to-rent, and 55+ active adult communities. With a focus on thoughtful design, premium finishes, resort-style amenities, and prime locations, Liv Communities creates vibrant neighborhoods that encourage connection, well-being, and a sense of belonging. Residents and team members enjoy extensive opportunities to engage in community activities, fostering meaningful relationships and building a true sense of community. Learn more at LivCommunities.com.
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by Peter Madrid | Mar 4, 2025 | News & Updates
PHOENIX, ARIZONA (March 4, 2025) – NAI Horizon represented the buyer in the $2.825 million acquisition of Sun Aire Plaza II, a well-established retail center in Peoria, Arizona.
NAI Horizon First Vice President Troy Giammarco represented Old Man Cactus, LLC, a San Jose, California-based investor, in the acquisition of the 64,033 SF retail asset located at 9501 W. Peoria Ave. Built in 1979, Sun Aire Plaza II sits on 1.47 acres at the intersection of Peoria and North 95th avenues.
“Troy is our respected and trusted advisor. He took us through the entire process from choosing the title company through the closing and even helping us find a property management firm. He made sure all the i’s were dotted, and the t’s were crossed,” the buyers said.
The seller, Fen Investments, Inc., of Chandler, Arizona, was represented by Cindy Moy-Zhang and Brook Miller with Re/Max Solutions.
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 in Phoenix and Tucson. NAI Horizon is passionate about commercial real estate, 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 325 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 325 offices strategically located in 65 countries throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,800 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 throughout the world.
NAI Global provides a complete range of corporate and institutional 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 | Mar 3, 2025 | News & Updates
TUCSON, ARIZ. (March 3, 2025) – Terracon is proud to announce the transfer of materials engineer Patrick Mohr, P.E. from the Lenexa, Kansas, office to the Tucson office.
Mohr will serve as a Materials Project Manager in Terracon’s Tucson office. He possesses 11 years of experience in materials testing and inspection. He supports a team of 14 field technicians and four laboratory technicians.
“I’m excited to continue my career with Terracon here in Tucson,” Mohr said. “I’m also glad to be in warmer weather.”
Mohr’s background includes six years working for the Kansas Department of Transportation (KDOT) and work on the largest highway project in its history, the Johnson County Gateway Interchange. It was KDOT’s largest and first design-build project. The critical interchange project provides more efficient movement as commuters navigate changes between I-435, I-35, and Kansas Highway 10.
Mohr holds a Bachelor of Science degree in civil engineering from the University of Kansas. Away from the office, he enjoys spending time with his family, remodeling, and visiting zoos.
“We are thrilled to welcome Patrick to our materials team,” said Derek D. Koller, Senior Principal and Tucson Office Manager. “Patrick brings a wealth of experience and expertise in materials engineering. We are confident that his contributions will be invaluable as we continue to innovate and excel in our field.”
About Terracon
Terracon is an employee-owned multidiscipline consulting firm comprised of more than 7,000 curious minds focused on solving engineering and technical challenges from more than 180 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. Terracon consistently ranks as a top 25 design firm by Engineering News-Record. Start to explore with us by visiting terracon.com.
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by Peter Madrid | Feb 19, 2025 | News & Updates
PHOENIX, ARIZONA (Feb. 19, 2025) – NAI Horizon facilitated a new office lease for a residential real estate brokerage company at 2944 Plaza in Phoenix. The building is the Phoenix corporate office of NAI Horizon.
Managing Director Lane Neville, Vice President Cole Neville, and Associates Brandon Hall, Whitney Heritage, Matt Westra, and Cade Olivas represented the landlord, CPLP 2944 N. 44th LLC in the office lease at 2944 N. 44th St.
“Our team at NAI Horizon is proud to represent the landlord in this transaction with such a talented and successful residential brokerage firm led by Rio Vidrio. We are pleased to add The Rio Group to the professional synergy of the building,” said Cole Neville.
The lease is for Suite 200, a 2,635 SF office.
“I’m excited to see what this new office has to offer. The six offices, bullpen, and conference area provide the perfect space for my growing team. Plus, the layout offers great spots to film videos and create content,” said Rio Vidrio, CEO of The Rio Group. “We toured over 10 offices in Central Phoenix, but we really loved this layout. Huge thank you to Cole for all his help; he had great communication skills and was on top of everything.”
The tenant, Silverio Vidrio PLC was represented by Jorge Lizarraga with A.Z. & Associates LLC.
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 in Phoenix and Tucson. NAI Horizon is passionate about commercial real estate, 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 325 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 325 offices strategically located in 65 countries throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,800 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 throughout the world.
NAI Global provides a complete range of corporate and institutional 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 | Feb 19, 2025 | News & Updates
PHOENIX, ARIZ. (February 19, 2025) – Hudson Place, a 55,367 SF commercial property comprising 15 buildings, has officially sold in a transaction that recently closed for $11.499 million.
The sale marks a unique shift in the property’s trajectory. It was originally purchased in December 2023 for an office condominium conversion, with each of the 15 buildings being marketed for individual sale.
The seller was represented by Marina Hammersmith, CCIM, and Tyrel Williams, CPM, of M|T HealthcaRE Partners at Medical Office Brokers. Hudson Place is located at 2405 E. Southern Ave., in Tempe, Arizona”
In a strategic move, the new owner stepped in to circumvent the conversion plan, making a competitive offer to acquire the entire property. The buyer intends to land bank Hudson Place for future development, ensuring long-term investment potential in the evolving Tempe commercial landscape
“This transaction underscores the dynamic nature of commercial real estate and the importance of adaptability in investment strategies,” Hammersmith said. “The limited supply of medical and general-use condominiums, coupled with strong market interest and the projected price points for individual building sales, created a compelling value-add position for the seller.
“This combination also generated a sense of urgency for the buyer to acquire the entire property before the conversion was finalized, recognizing the long-term potential for the site,” Hammersmith added.
“It was an honor to be involved in this unique project,” Williams said. “Even though we didn’t get to bring our original business plan to fruition, it was rewarding to see the Hudson Place property go to a great organization to further its important role in this community.”
About Medical Office Brokers (Arizona MOB):
Founded in 2006, Medical Office Brokers (MOB) is a boutique commercial real estate firm based in Phoenix, Arizona. MOB’s mission is to come alongside healthcare stakeholders as their advocates in commercial real estate. Independent physicians, healthcare systems, REIT’s, syndicators and qualified investors, MOB is committed to positive results through strategic thinking, persistence and the efficient delivery of services. For more information visit arizonamob.com.
About M|T Healthcare Partners:
M|T Healthcare Partners is a leading provider of healthcare real estate solutions, offering a wide range of services including, tenant/buyer representation, medical practice expansion strategy, landlord leasing/sales representation, and property repositioning for medical use. With a commitment to excellence and innovation, M|T Healthcare Partners supports healthcare organizations in optimizing their real estate investments and achieving operational efficiency.
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