NAIOP Arizona Developing Leaders YPG kicks off stellar 2020 with class of record 26 applicants

NAIOP Arizona Developing Leaders YPG kicks off stellar 2020 with class of record 26 applicants

News & Updates

      PHOENIX, ARIZONA (January 22, 2020) – A record number of applicants applied for the 2020 NAIOP Arizona Developing Leaders Mentor Program, known as the Young Professionals Group (YPG).

      Twenty-six protégés, or young professionals, who come from all corners of the Valley’s commercial real estate industry, were selected to participate. This year’s first event was a YPG Kick-Off at The Gladly.

Each protégé in the six-month program will attend educational seminars and complete a development case study by the end of the program.

The 2020 class comprises Diego Almarel, Strategic Office Partners; Alex Anstey, Willmeng Construction; Jim Bulsiewicz, Hines; Christopher Campbell, BNC National Bank; John Coughlin, Prologis; Ashley Dykstra, Kinney Construction; Aaron Fox, Cushman & Wakefield; Joey Hakola, RED Development; Jimmy Hoselton, Newmark Knight Frank; Ryan Kates, STORE Capital; Ian Kennedy, The Remson Group; Austin Knebel, LevRose Commercial Real Estate; Stephanie Lanman, Leading Edge Real Estate.

Franklin Lee, Sharp Construction; Jonathan Loe, Sherman & Howard; Taylor McDonald, Whiting-Turner; Mike McWilliams Jr., Plaza Companies; Ashley Nye, Trammell Crow Company; Greer Oliver, Cushman & Wakefield; Adam Olson, CEVA Logistics; Brice Pall, Enterprise Bank & Trust; Jackson Paquette, SRP; Michael Roberts, JDM Partners; Scott Scharlach, Waterford Property Company; John Schott, Everest Holdings; and David Stull, CBRE.

The 2020 Co-Chairs are Mollie Zemer, Senior Development Association, Barclay Group; and Josh Tracy, Director of Real Estate Development, Ryan Companies US.

This year’s mentors are Phil Breidenbach, Colliers International; Megan Creecy-Herman, Prologis; Keith Ernest, VanTrust Real Estate; John Orsak, Lincoln Property Company; and Cathy Thuringer, Trammell Crow Company.

“The YPG program offers its participants insight into the components and complexities of evaluating a commercial development project,” said Thuringer, a long-time mentor of the YPG program. “The knowledge gained throughout the program together with the ability to work closely with industry leaders as mentors provide a valuable platform to further the professional growth of the proteges.”

Projects present market analysis statistics, architectural site plans, market studies and marketing plans, construction budgets and exit strategies to the judges for the final presentation by five teams.

The NAIOP Arizona Developing Leaders YPG program deepens young leaders’ knowledge of the industry and helps develop invaluable relationships with some of the industry’s most successful professionals.

All NAIOP members who are age 35 or under are eligible to apply for the YPG program, whether they joined through the Developing Leader membership category or as part of a corporate membership.

by Jan 23, 2020
Commercial real estate experts tout a sizzling and robust Phoenix and Arizona market at 13th Annual IREM-CCIM Economic Forecast

Commercial real estate experts tout a sizzling and robust Phoenix and Arizona market at 13th Annual IREM-CCIM Economic Forecast

News & Updates

    PHOENIX, ARIZONA (January 22, 2020) – The theme of the 13th Annual IREM-CCIM Economic Forecast was “The Real Scoop.” Judging by the comments of economists and industry panelists, the message that resonated was “Phoenix and Arizona are on fire.”

“Last year we talked about being late in the game and would there be extra innings,” said keynote speaker Elliott D. Pollack. “Where do we stand in the cycle now? Well, Phoenix is the most affordable major market in the Western U.S. We’re growing at three times that of other U.S. cities and still need to figure out how to deliver affordable housing. We’re likely to remain one of the top five metro areas in the country. Overall, I’d say the picture is positive.”

The Valley’s premier real estate outlook recently drew a crowd of more than 400 at the Omni Scottsdale Montelucia. Besides Pollack, the Economic Forecast featured panelists who specialize in office, industrial, multifamily and retail properties. The takeaways from each panel:

>> Office: The center of all activity continues to be Tempe, around Arizona State University and the Grand at Papago Park Center. Overall vacancy in that submarket is in the single digits. SkySong has added three more buildings, a hotel and an 800-unit multifamily project.

“We certainly have created an urban environment, a true live-work-play lifestyle,” said panelist Stan Shafer with Holualoa Companies, one of the developers of SkySong.

Medical office presents opportunities for brokers and owners alike, said Kate Morris with Transwestern.

“We don’t have enough doctors and facilities,” she said. “We certainly have more room for facilities. Right now, we have two hospitals under construction and more expanding. You don’t see that on the East Coast any longer.”

Added Johns Orsak with Lincoln Property Company:

“Our (the Valley) roster is now the Oracles of the world, financial companies. The diversity of the market has put us on sound footing here.”

>> Multifamily: While Arizona is enjoying a booming multifamily cycle, there are still issues on the horizon that could affect an industry that pumps $3.8 billion annually into the local economy.

“Last year is the first year we actually built enough units to meet the demand,” said John Carlson with Mark-Taylor. “The core of what creates demand is jobs. It’s all about jobs. But what keeps me up at night is rent control. It’s now an issue in 41 states.”

A lack of affordable housing is also a concern. More than 70 percent of all units built in the past few years have been specifically in Phoenix, Scottsdale and Tempe.

“The cycle is dynamic, and we have a lot of runway left,” said John Rials with Western Wealth Capital.

>> Retail: The new moniker for this property type, according to the panelists, is consumer real estate. A property type in which consumers want and expect an experience, whether it’s shopping or eating in a restaurant.

“Retail real estate is the best of all property types,” said Kalen Rickard with Western Retail Advisors. “We’ve had to reinvent ourselves. But think how we affect other property types, including multifamily and office. It’s still true that retail follows rooftops, especially in the Valley.”

“Retail is an amenity to attract workers and residents,” added Ari Spiro with ORION Investment Real Estate.

Trends? Josh Simon with SimonCRE said a popular trend is the unanchored retail center. “Retail is getting more localized,” he said.

>> Industrial: As new transportation corridors open around the Valley – namely the loops 202 and 303 freeways – the industrial market has flourished, panelists agreed.

“The Southwest Valley is experiencing an increase of larger big-box users because the land is cheaper out there,” said Jeff Foster with Prologis. “It’s e-commerce, food and beverage that is serving and fulfilling the population growth out there. The Loop 202 (South Mountain Freeway) is going to be a huge game-changer.”

The East Valley is also in demand of product, from 10,000 SF to 100,000 SF, according to Steve Larsen with JLL.

“The pent-up demand is now playing out,” Larsen said. “In-migration. Affordable housing. Pharma, aerospace and defense … industrial is being backfilled with lots of employment.”

Rusty Kennedy with CBRE agreed.

“The labor story is really what is driving activity in the Southeast Valley,” he said. “There are six or seven applicants for each job posting. Human resources is on the first tour. They want to know where the labor is coming from, where the kids will be going to school, where employees with be shopping.”

E-commerce, Megan Creecy-Herman said, is one of the darlings of the industrial sector. Data centers are the other.

The event was co-sponsored by the CCIM Central Arizona chapter (Certified Commercial Investment Member), commercial real estate’s global standard for professional achievement; and the Greater Phoenix Chapter of IREM (Institute of Real Estate Management), which comprises more than 280 professional commercial and residential real estate managers.

The recipient of this year’s Impact Award, Grand Canyon University President Brian Mueller, echoed the remarks made by Gov. Doug Ducey at his recent State of the State Address.

“This is one the best places to live and work,” Mueller said. “One of the biggest decisions the school made was to stay in West Phoenix. It’s a wonderful neighborhood of immigrants. What it needed was an economic catalyst. A lot is now going on west of Central Avenue. I feel extremely blessed to be at Grand Canyon and contribute to our local economy.”

Added Valley icon and long-time local businessman Jerry Collangelo, who presented Mueller with the award:

“Grand Canyon University is one of the greatest business and education stories in the country today. Brian could teach people a lot about real estate. He is very bullish on our economy. This is a very exciting time for all of you to be in this industry. Phoenix is on fire.”

CCIM Central Arizona President Marina Hammersmith (left) and IREM Greater Phoenix President Rosalinda Bridges open the 13th annual Economic Forecast. (Photo by Noelia Doherty).

 

by Jan 22, 2020
NAI Horizon’s Terry Martin-Denning Named Secretary of NAI Global 2020 Leadership Board   

NAI Horizon’s Terry Martin-Denning Named Secretary of NAI Global 2020 Leadership Board  

News & Updates

     PHOENIX, ARIZ. (Jan. 22, 2020): Terry Martin-Denning, CEO & Designated Broker, NAI Horizon, was named Secretary of the NAI Global 2020 Leadership Board. NAI Global is a leading global commercial real estate brokerage firm.

“We are very pleased to have Terry in this role,” said Jay Olshonsky, President and CEO of NAI Global. “The success of NAI Horizon is a testament to her leadership skill. Our offices are very fortunate and will benefit from her experience.”

The NAI Leadership Board provides proactive leadership to increase the profitability, professionalism, technical capability, integrity and standards of practice that reinforce and breed mutual trust and respect throughout the organization. It fosters and promotes activities, education and communication that elevate the level of engagement and productivity of Offices, Agents and the Organization at-large.

Martin-Denning will also serve on the NAI Global Board’s Executive Leadership Committee, comprised of executive committee officers, past chairs, and NAI Global’s executive leaders. This group assures the alignment of strategies, goals and objectives so that the organization can perform with the greatest degree of efficiency under a shared vision.

“I’m looking forward to my new role on the Leadership Board,” Martin-Denning said. “It’s an honor to serve with this talented group of NAI executives.”

Martin-Denning was named to the NAI Global Leadership Board in 2019.

She was appointed NAI Horizon’s CEO in January 2015 and served as COO from 2006 until becoming CEO. She has been employed in various capacities by NAI Horizon and its affiliated companies since 1985.

Martin-Denning is visible in the business community and active in Valley Partnership, NAIOP Arizona, AZCREW, Urban Land Institute Arizona, CCIM and ICSC. She is AZCREW’s 2020 President.

by Jan 22, 2020
MEB Commercial Management Group, OPTIM Property Solutions merge, expand footprint, expertise across Phoenix, Tucson and Las Vegas

MEB Commercial Management Group, OPTIM Property Solutions merge, expand footprint, expertise across Phoenix, Tucson and Las Vegas

News & Updates

     PHOENIX, ARIZONA (January 21, 2020) – MEB Commercial Management Group and OPTIM Property Solutions have announced a merger of their business operations, a move that will open new client relationships and combine resources to better serve clients, become more efficient and advance in technology. The merged business will operate under the MEB Commercial Management Group brand.

The merger will create a company with 3 million square feet (MSF) of management property at more than 70 buildings of office, retail and light industrial.

The leadership team will comprise Principals Libby Ekre, Jodi Sheahan and Scott Cook; Managing Director and Designated Broker Azar Meszaros; Vice President Tyrel Williams; and Director of Accounting Jayne Anderson. Karlene Politi, former President of OPTIM, will play a key role overseeing a large regional portfolio and work with MEB Commercial leadership on strategic initiatives. The rest of the OPTIM Property Solutions staff will join MEB Commercial as well, adding additional depth to the highly-talented team.

“It’s gratifying to see the synergy and momentum this merger is creating for our company and our clients,” said Ekre, one of the three original founders of MEB Management Services, which celebrated its 20th anniversary in 2018. “I’m excited to work with this highly driven team of experts who have mastered the ability to create value for clients.”

Prior to the merger, MEB Commercial had approximately 1.5 MSF of office, 330,000 SF of retail and 70,000 SF of light industrial under management. OPTIM had approximately 500,000 SF of retail, 400,000 SF of office and 100,000 SF of light industrial under management.

The company will serve Metro Phoenix, Tucson and Las Vegas. More than 20 employees will be housed at MEB Commercial’s offices at 3030 N. Central Ave. and 11201 N. Tatum Blvd. in Phoenix.

Key properties under management include a 100,000+ SF Class A office building in the Paradise Valley area; a 180,000+ SF, 15-story office building in Midtown Phoenix; an iconic mid-rise office building in the heart of downtown Mesa; and a newly renovated, 100 percent occupied retail center in Queen Creek.

“The combination of companies, people, experience and resources gives us the best of all worlds for our existing and future clients,” Politi said.

The merger will create a firm with professionals who possess decades of top commercial management experience and impressive industry credentials. Five of the company’s leaders and managers hold the highly respected Certified Property Manager (CPM®) credential from the Institute of Real Estate Management. Leadership of both entities has had long-time professional relationships with each other. The move positions MEB to better serve clients of all asset types and continue with OPTIM’s 17 years of commercial operations in Nevada.

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About MEB Commercial Management Group

About MEB Commercial Management Group (MEB Commercial) provides real estate management services for all types of commercial assets. MEB Commercial has corporate offices in Phoenix, Paradise Valley, and Henderson, Nevada, with a staff of more than 20 real estate professionals. MEB Commercial is respected for its ability to drive value for its clients. For more information visit www.mebcommercial.com.

 

by Jan 21, 2020
Prescott’s Whispering Canyon master-planned community nears close-out on Phase 3 and 4

Prescott’s Whispering Canyon master-planned community nears close-out on Phase 3 and 4

News & Updates

Sales surged in 2019 for spacious custom lots, new homes; leaving 30 remaining available lots in highly desirable master-planned community

      PRESCOTT, ARIZ. (Jan. 16, 2020) – Whispering Canyon, a master-planned community nestled in the high desert of Prescott, Arizona, adjacent to Granite Mountain and surrounded by Prescott National Forest, is nearing close-out of its two open phases.

Currently available phases of the community experienced an unprecedented swell of home and ready-to-build lot sales in 2019. The luxury lifestyle community, located at Whispering Canyon Drive and Williamson Valley Road, has 30 remaining lots available between its non-gated Phase 3 and its gated Phase 4.

Newly constructed homes are available in four floorplan options ranging in size from 2,100 SF with two bedrooms and a den to 2,550 SF with three bedrooms, an office and 2.5 baths. Each new home in Prescott’s Whispering Canyon community includes an attached finished three-car garage.

Currently, a two-story 2,800+ SF model is available for sale. Prices range from the low $500,000s to the $700,000s. Currently, there are a limited number of “move-in ready” new homes available.

Spacious custom lots are also available throughout the community for buyers looking to have their dream custom home built. Each lot was positioned to offer privacy and unequaled views while providing a sense of community and a sense of immersion into the natural surroundings.

New home sales at Whispering Canyon are being managed by the Norkus Group in Prescott, which has sold all of the new homes built in Whispering Canyon in 2019. The community is expected to be sold out of its inventory by very early summer 2020.

“New home and lot sales have been very active in 2019 at Whispering Canyon, exponentially exceeding previous year’s sales and bringing us to the point of near sell-out for the two currently available phases,” said Cole Johnson, developer of Whispering Canyon. “People are relocating from areas like California, Washington, Texas and Canada as well as elsewhere in Arizona because they appreciate the value, amount of land, and size of home they can get for their dollar here in Prescott.

“It’s ideal for retirees as well as for families looking for a second home or wanting to move to a smaller community where their dollar goes much further – it’s a great way to downsize on your mortgage and home costs while simultaneously increasing your acreage with all of the benefits of a new home. Our buyers are recognizing the value and quality experience they get here,” Johnson said.

Recognized for craftsmanship, quality materials and state-of-the-art technology, new homes in Whispering Canyon offer numerous features, from the paver drive and architectural stone exterior to the outdoor living patios with amazing mountain views. Each semi-custom home floorplan has a spacious great room with formal dining, designed to capture natural light and views and showcases the 10-foot ceilings as well as designer tile flooring, carpet, and interior colors for buyer selection.

The great room has access to a covered patio and kitchens feature stainless appliances, buyer select cabinetry, granite counter island, pantry, and breakfast bar or nook. The master bedroom provides a welcome retreat with luxury en-suite walk-in shower, double vanity and walk-in closet. Flexible floorplans include second master suite, guest bedrooms, office and full bath plus additional powder room options.

Whispering Canyon’s exterior combinations of stucco, stone, timber and tile rooftops create an eclectic mix of styles including Tuscan, Spanish, Ranch, Territorial and Craftsman-Bungalow. Buyers can customize the home’s exterior and interior to reflect your tastes and lifestyle.

To immediately schedule your opportunity to explore ownership of the homes and custom lots at Whispering Canyon and see the breathtaking natural surroundings schedule a visit. Whispering Canyon is open daily from 11 a.m. to 4 p.m. or you can call (928) 710-0148 to schedule an appointment. Visit whisperingcanyon.com for more information.

 

 

 

by Jan 15, 2020
AZCREW ushers in 2020 with bold, new vision; NAI’s Terry Martin-Denning named President

AZCREW ushers in 2020 with bold, new vision; NAI’s Terry Martin-Denning named President

News & Updates

PHOENIX, ARIZ. (January 13, 2020) – A bold strategic vision and new board members kick-off 2020 for AZCREW.

AZCREW is Metro Phoenix’s premier real estate organization, focused on the advancement and success of women within the commercial real estate industry through leadership, professional relationships, education and excellence. AZCREW is part of the national CREW network.

The 2020 Board of Directors are Terry Martin-Denning, CEO/Designated Broker, NAI Horizon, President; Lindsey Carlson, Colliers International, President-elect/programs chair; Heather Fox, CBRE, Treasurer/CREW Foundation chair; Lorna Bannister, KB Home, Secretary/sponsorship chair; Amber Coleman, CBRE, Director/PR/community outreach chair; Dana McDonald, Stewart Title, Director/membership chair; Francine Moore, Director/special events chair; and Jennifer Cranston, Gallagher & Kennedy, Past President/legacy chair.

“I am excited about the opportunity to serve as President and to work with this great group of leaders,” Martin-Denning said. “I’ve learned a lot this past year under Jennifer Cranston’s leadership. I look forward to furthering the vision of AZCREW in 2020.”

AZCREW’s strategies include maintaining and strengthening the current membership base of more than 200 members, focusing on quality, diversity and member engagement by continuing to offer high quality, relevant programs and events to enhance membership value. AZCREW will continue to support CREW Foundation and its initiatives and promote and communicate AZCREW leadership opportunities.

Some of AZCREW’s 2019 highlights:

>> AZCREW was selected as the YWCA’s 2019 Tribute to Leadership Women’s Empowerment Corporate honoree. The award recognizes individuals and organizations that have generously given their time and talents to the community. Being chosen is a highly prestigious honor as the organizations chosen as corporate honorees exemplify the very best qualities in an organization: honesty, collaboration, ambition, and empowerment, a commitment to diversity and inclusion and volunteerism.

>> Every two years, AZCREW selects a charity partner as the beneficiary of its annual AZCREW Golfiesta. New Pathways for Youth is the 2019 and 2020 beneficiary and received a $16,000 donation from AZCREW in 2019.

>> AZCREW presented a $10,000 scholarship to Arizona State University Master of Real Estate Development (MRED) student Abby Perez. The scholarship was announced at AZCREW’s annual Black & White Affair, held Oct. 30 at Transwestern’s new office at the Esplanade. The event benefits AZCREW’s “MRED Dollars for Scholars” program.

Over the past 9 years, AZCREW has supported MRED students by awarding more than 15 scholarships totaling nearly $50,000. It was the best attended Black & White affair since its inception in 2010 with 140 industry professionals enjoying a beautiful fall evening.

About AZCREW:

With more than 200 members, AZCREW is the premier commercial real estate organization that dominates in the advancement and success of women within the commercial real estate industry in Metro Phoenix through leadership, professional relationships, education and excellence. As part of CREW Network, the industry’s premier networking coalition, AZCREW is dedicated to advancing the success of women in commercial real estate. CREW Network’s membership of more than 11,000 professionals in 70+ major global markets represents all aspects of commercial real estate—providing our members with direct access to real estate professionals across all geographies and disciplines. For more information visit arizonacrew.org.

 

by Jan 13, 2020
Sale of retail building in Tempe, sale of two self-storage properties highlight recent transactions closed by NAI Horizon   

Sale of retail building in Tempe, sale of two self-storage properties highlight recent transactions closed by NAI Horizon  

News & Updates

     PHOENIX, ARIZ. (Jan. 9, 2020): The $3.5 million sale of a Tempe retail building and the sales of two self-storage properties for a combined $3.55 million in two rural Arizona towns highlight recent deals closed by NAI Horizon professionals.

Sale Transactions:

Lane Neville and Logan Crum negotiated a sale of a 19,810 SF retail building, representing the buyer, Old Vine Limited Partnership, for $3.5 million. The property is located at 2240 N. Scottsdale Road, Tempe, AZ. The seller, DROF 1-5, LLC, represented itself.

Denise Nunez negotiated the sale of a self-storage property, representing the seller, 603 Industrial, LLC, for $2 million. The property is located at 603 Industrial Drive, Camp Verde, AZ. The buyer, Daniel W. Balliet, Diana L. Balliet, and Jason A. Balliet, was represented by Don Arsenault with Don Arsenault Realty.

Denise Nunez negotiated the sale of a self-storage property, representing the seller, Georgeanna Jones, for $1.55 million. The property is located at 3586 E. US Highway 60, Miami, AZ. The buyer, TAJ Apex Consulting Group, LLC, represented itself.

Rick Foss and Jay Olson negotiated a sale of a 13,264 SF industrial building, representing the buyer, Precision Glass & Aluminum, LLC, for $1.07 million. The property is located at 2020 W. Melinda Lane, Phoenix, AZ. The seller, 2020 Melinda Inc. represented itself.

Troy Giammarco and Joe Pequeno with NAI Horizon and Sean Gillespie with Nathan & Associates negotiated the sale of a 5,140 SF office building and 3 acres of land, representing the seller, Vulture Peak Properties Limited Inc., for $1 million. The property is located at 1938 Wickenburg Way, Wickenburg, AZ. The buyer, Town of Wickenburg, represented itself.

Mark Wilcke and Michael Gaida negotiated the sale of a 9,900 SF industrial building, representing the seller, Paul’s Car Care Inc., for $965,000. The property is located at 1457-1459 N. Arizona Ave., Chandler, AZ. The buyer, CW Legacy LLC, was represented by Kenneth Elmer with Commercial Properties Inc.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon negotiated a 5,997 SF retail building, representing the seller, Sun City Restaurant, LLC, for $925,000. The property is located at 13039 N. 103rd Ave., Sun City, AZ. The buyer PTM Properties, LLC, represented itself.

Lori Kahn negotiated a sale of a 2,506 SF medical building, representing the buyer, Integrity Pain and Anesthesia PLLC, for $601,838. The property is located at 6677 W. Thunderbird Road, Glendale, AZ. The seller, Christian Consulting, Design and Engineering, was represented by Megan Reeves with Plaza del Rio.

Matt Harper, CCIM, negotiated the sale of a 3,736 SF office building, representing the seller, The Larry A. Kamka and Ellena M. Kamka Revocable Living Trust, for $325,000. The property is located at 7840 N. 31st Ave. Phoenix, AZ. The buyer, Southwest District Council of Assemblies of God, was represented by Bill Nanney with KW Commercial.                                           

Matt Harper, CCIM, negotiated a sale of a 1,975 SF office building, representing the seller, Daniel J. Swingler and Dorothy Marie Swingler for $275,000. The property is located at 5830 N. 59th Ave., Glendale, AZ. The buyer, EEMAD, LLC, represented itself.

Dylan Whitwer negotiated the sale of a 3,930 SF office building, representing the buyer, Folz Properties LLC, for $260,000. The property is located at 2015 W. Apache Blvd., Apache Junction, AZ. The seller, L.R.K. Inc., was represented by Tony Vehon with Wichert Realtors – Lake Realty.

Matt Harper, CCIM, negotiated a sale of a 1,215 SF retail building, representing the buyer, Robert Lee Thatcher and Arlene A. Thatcher, for $103,000. The property is located at 7025 N. 48th Ave., Glendale, AZ. The seller, Frank Yamamoto and Kumiki Yamamoto, represented itself.

Laurel Lewis and Dylan Whitwer negotiated a sale of a 1,709 SF office building, representing the seller, Troon LLC, for $95,508. The property is located at 10045 E. Dynamite Blvd., Bldg: F., Scottsdale AZ. The buyer, Manaco Ventures Trust, represented itself.

Lease Transactions:

Mike Kumelski represented the tenant, Aggregate Athletics, LLC, in a 120-month retail lease for 44,927 SF at 7720 Union Park Ave., Midvale, UT. The landlord, Fort Union Shopping Center LLC, was represented by Scott Brady/MK Partner Ben Brown with Mountain West Commercial.

Mike Myrick, Don Morrow and Dylan Whitwer represented the landlord, Thomas Investments Limited Partnership, LLP, in a 132-month office lease for 4,603 SF at 1112 E. McDowell Road, Phoenix, AZ. The tenant, Thomas Investments Limited Partnership, LLP, was represented by Alexandra Loye with Colliers.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, CP6MF LLC, in a 120-month retail lease for 2,814 SF at 1840 E. Warner Road, Tempe, AZ. The tenant, Core Concepts AZ Tempe, LLC, was represented by Sean Bishop with Lee & Associates.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented both the tenant, SB Tempe, LLC and the landlord, Ziegler’s NYPD Pizza, LLC, in a 66-month retail sublease for 2,746 SF at 222 S. Mill Ave., Tempe, AZ.

Jeff Adams represented the tenant, Camp Roofing, LTD, in a 51-month industrial lease for 8,521 SF at 1440 West 12th Place, Tempe, AZ. The landlord, BKM Twins 115, LLC, was represented by Andy Brigham & Bill Bayless with CBRE Phoenix.

Isy Sonabend represented the tenant, Smalley and Company, in a 36-month industrial lease for 12,815 SF at 5546 W. Roosevelt St., Phoenix, AZ. The landlord, Kensington Investments V, LLC, was represented by Gary Anderson with Cushman & Wakefield. 

Mike Myrick represented the landlord, Kyrene Office Suites, LLC, in an 84-month office lease for 1,318 SF at 605 W. Knox Road, Tempe, AZ. The tenant, Edward Jones, was represented by Larry Little with Mutual Property Advisors.

 Laurel Lewis and Mike Kumelski represented the tenant, Domino’s Pizza, LLC, in a 61-month office lease for 2,146 SF at 2601 E. Thomas Road, Phoenix, AZ. The landlord, Arizona Assemblies of God Real Estate Holding Company, LLC, was represented by Suzanne Enright with Shell Commercial.     

Chris Gerow, Shelby Tworek, Gabe Ortega & Patrick Anthon represented the landlord, Weingarten Nostat Inc., in a 60-month retail lease for 1,440 SF at 7750 E. McDowell Road, Scottsdale, AZ. The tenant was represented by Kolton Pico Matosich with Sheldon Wiseman Commercial Real Estate.

Thomas Bean, CCIM, and Laurel Lewis represented the landlord, Corner Edge Interactive, LLC, in a 21-month office sublease for 3,446 SF at 2165 W. Pecos, Chandler, AZ. The tenant, The Institute for Liver Health, LLC, represented itself.

Matt Harper, CCIM, represented the landlord, HBR Properties, LLC, in a 39-month retail lease for 1,600 SF at 3522 Grand Ave., Phoenix, AZ. The tenant, Gabriel Amavizca and Quintero Murrieta Guadalupe dba Encinas Meat, represented itself.  

Matt Harper, CCIM, represented the landlord, Allan Edward Slatin Trust, in a 41-month retail lease for 2,500 SF at 4744 E. Thunderbird Rd., Phoenix, AZ. The tenant, Arizona Budokan, LLC, was represented by Greg Valladao with SRS Real Estate Partners.

Matt Harper, CCIM, represented the landlord, Kayrich Associates, LLC, in a 60-month retail lease renewal for 3,528 SF at 6445 N. 51st Ave., Glendale, AZ. The tenant, Zena Yakoob and Shaalan Yakoob dba Express Food Mart, represented itself.

Matt Harper, CCIM, represented the landlord, HBR Properties, LLC, in a 39-month retail lease for 1,000 SF at 3522 Grand Ave., Phoenix, AZ. The tenant, El Paris Barbershop, LLC dba Raspados El Bikini, represented itself.

Thomas Bean, CCIM, and Laurel Lewis represented the landlord, Top of the Tram, LLC, in a 10-month office lease for 3,446 SF at 2165 W. Pecos, Chandler, AZ. The tenant, The Institute for Liver Health, LLC, represented itself. 

Don Morrow and Dylan Whitwer represented the landlord, Freeport Investments, in a 24-month office lease for 2,002 SF at 2720 E. Thomas Rd., Phoenix, AZ. The tenant, Centria Healthcare, represented itself.

 Matt Harper, CCIM, represented the landlord, Puchhi, Inc., in a 38-month retail lease for 1,240 SF at 9501 W. Peoria Ave., Peoria, AZ. The tenant, BCF, LLC dba Remedy Kettlebell Club, represented itself.

Matt Harper, CCIM, represented the landlord, Kayrich Associates, LLC, in a 38-month retail lease for 1,712 SF at 6445 N. 51st Ave., Glendale, AZ. The tenant, Pretty Wicked Bootcamp LLC, represented itself.

Jennifer Loehnert represented the tenant, Evolution Insurance, LLC, in a 24-month office lease for 389 SF at 3101 N. Central Ave., Phoenix, AZ. The landlord, Boxer Property Management Corp., was represented by Robert Wilder with Boxer Property Management Corp.

Joan Krueger, Don Morrow and Dylan Whitwer represented the landlord, Norman Family LP, in a 12-month office lease for 500 SF at 1111 N. Gilbert Road, Gilbert, AZ. The tenant, Better Way Tax, represented itself.

by Jan 09, 2020
Todd Severson returns to luxury community developer Symmetry Companies as partner

Todd Severson returns to luxury community developer Symmetry Companies as partner

News & Updates

     SCOTTSDALE, ARIZ. (Jan. 7, 2020) – Luxury lifestyle community developer Symmetry Companies announces that Todd Severson has returned to the organization as partner.

In his new role, Severson will be focused on the acquisition of new resort, lifestyle and hospitality inspired projects as well as oversight of assets under management.

Severson brings a diverse, 15-year background in design, finance and development to the organization. In addition, his international development experience provides unique insights into creating exceptional destinations and meaningful experiences.

Most recently, Severson served as the director of acquisitions, entitlements and infrastructure at Discovery Land Company. While in this position, he was responsible for the acquisition, design and development for numerous internationally recognized resort communities. They include Barbuda Ocean Club (Antigua & Barbuda); Playa Grande Golf & Ocean Club (Dominican Republic) as well as the acquisition of James Island (British Columbia, Canada).

Prior to joining Discovery, Severson participated in the master planning and place creation of several leading resort communities or destination resorts including Makena Golf & Beach Club (Maui, Hawaii); Northstar Ski Resort & Residences (Lake Tahoe, California); and Island Lake Lodge (British Columbia, Canada).

Prior to his work with Discovery Land, Severson played a key role during the early years of creating Symmetry Companies.

“We’re extremely pleased to welcome Todd back to the Symmetry team,” said Peter Burger, president and founder of Symmetry Companies. “With his leadership, passion for resort design and technical knowledge of real estate, we’re confident that he will help us continue creating exceptional experiences for residents at existing and future communities in our portfolio.”

In addition to his professional pursuits, Severson actively participates in local real estate events through his involvement with ULI Arizona’s AzTAP councils and UrbanPlan facilitations. He serves as a leader within ULI’s Young Leaders Partnership Forum.

Severson earned a B.S. in landscape architecture and an M.S. in real estate development from Arizona State University.

 

by Jan 07, 2020
New Luxury Willow Creek Apartments Community Opens its Doors in Prescott

New Luxury Willow Creek Apartments Community Opens its Doors in Prescott

News & Updates

     PRESCOTT, ARIZ. (December 17, 2019) —The Willow Creek Apartments community in Prescott, Arizona, recently celebrated its grand opening with Mayor Greg Mengarelli participating in the community ribbon-cutting event.

The luxury, 160-unit garden-style apartment community, located at 3137 Willow Creek Road, is the first new signature apartment community in the area to complete construction and provide much-needed luxury level multi-family living options to area residents.

“The grand opening of Willow Creek Apartments is a milestone many years in the making,” said Cole Johnson, owner and developer of Willow Creek Apartments. “After several setbacks, it’s great to finally be at the point where the city of Prescott has delivered the certificate of occupancy and residents are moving in.

“I would also like to thank the many individuals who have been behind the scenes working to make Willow Creek Apartments a reality. I am thrilled to welcome our new residents and invite the many prospective residents, who have been watching and waiting for a new option in luxury living in Prescott, to come by for a tour of what I believe is the best new apartment community in our city,” Johnson said.

The new limited number of studio, one-bedroom, two-bedroom and carriage house apartment units with floor plans ranging from just over 670 to 1188 square-feet are now available for immediate move in. Current offerings include furnished and short-term rentals and leases for each unit type.

Each luxury apartment home includes an in-unit laundry room with full-size washer and dryer, premium stainless-steel kitchen appliances and granite counter tops, wood plank flooring, and spacious living areas. Each unit has its own courtyard/patio and its own designated covered parking as well as optional detached garages.

The central Prescott location offers spectacular views of Granite Mountain, significant open space and lush landscaping throughout the community.

The pet-friendly community also offers residents a large clubhouse with a full-kitchen, supplemented by multiple outdoor barbeque areas, and community entertainment space for gathering and for private events as well as a best in class 24-hour fitness center and the convenience of an on-site fenced dog park.

Willow Creek Apartments is conveniently located near Embry Riddle Aeronautical University and just minutes from the best that Prescott has to offer — hiking and biking trails, Heritage Park Zoological Sanctuary, Willow Creek Reservoir and the city’s lively shopping and dining experiences.

The community’s construction was completed by general contractor Copper Tree Construction, LLC. Copper Tree is also building the luxury single family housing community, Whispering Canyon, NW of Prescott adjacent to Granite Mountain and surrounded by the Prescott National Forest.

Willow Creek is professionally managed by Shelton Residential. Interested parties can contact info@Allison-Shelton.com for information or to arrange a tour.

For more information about Willow Creek Apartments, visit WillowCreekaptsPrescott.com or call (602) 474-3555 to schedule a tour.

Willow Creek Apartments ribbon-cutting ceremony in Prescott.

by Dec 17, 2019
Nunez Self Storage Group negotiates $1.55M sale of Triple Nichol Storage in Miami, Ariz.  

Nunez Self Storage Group negotiates $1.55M sale of Triple Nichol Storage in Miami, Ariz.  

News & Updates

     PHOENIX, ARIZONA (December 16, 2019): NAI Horizon Senior Vice President Denise Nunez represented the seller in the $1.55 million sale of Triple Nichol Storage, 3586 E. U.S. Highway 60 in Miami, Arizona.

Nunez represented Georgeanna Jones of Durango, Colorado, the seller. The buyer was TAJ Apex Consulting Group, LLC of Encino, California.

Triple Nichol Storage Center is a stabilized self-storage facility first built in 1980 with additional containers added and refurbished throughout the years, most recently in 2017 and 2018. The site is 3.77 acres and serves the mining towns of Globe and Miami located four miles apart and approximately 75 minutes from Phoenix.

Triple Nichol has prominent visibility from US Highway 60 and is the largest self-storage facility serving the market with on-site management and a website presence. The facility includes 24,928 RSF with 53 outside parking spaces for a total of 289 units.

“The asset features container storage units plus three mobile homes for the manager, office and tenant,” Nunez said.” The sale represents a great upside with the opportunity to grow revenues through rent increases, the addition of container units, potential reconfiguration of units for maximum space utilization and income generation and the potential leasing of office space in the main building. At the time of sale, the physical occupancy was 97.6 percent with economic occupancy at 94.9 percent.”

 

by Dec 16, 2019