NAI Horizon negotiates $14M investment sale of 128,569 SF retail center in West Phoenix

NAI Horizon negotiates $14M investment sale of 128,569 SF retail center in West Phoenix

News & Updates

by | Dec 27, 2018 | News & Updates

      PHOENIX, ARIZONA (December 27, 2018) – NAI Horizon represented 29 Bell, LLC (Bruce Shapiro, Principal), the buyer in the $14 million investment acquisition of Deer Valley Center, a 128,569 SF retail center located at 4123-4273 W. Thunderbird Rd., in Phoenix.

NAI Horizon Senior Vice Presidents Lane Neville and Barbara Lloyd and Associate Logan Crum represented the buyer. NAI Capital, John Manion and Travis Watkins (Irvine, California) represented the seller, Deer Valley Center LLC of Henderson, Nevada (Warren Kellogg, Principal).

“This off-market acquisition is a key strategic move for our client in the expansion of their Arizona retail portfolio and provides excellent upside opportunity to grow property income through capital improvement and strengthening of the overall tenant mix,” Neville said.

Deer Valley Center sits on 11.44 acres. Tenants include Starbucks, Goodwill, Great Clips, and Sally Beauty.

 

 

by Dec 27, 2018
CCIM Central Arizona names leadership, board for 2019; Jenette Bennett tabbed as President

CCIM Central Arizona names leadership, board for 2019; Jenette Bennett tabbed as President

News & Updates

by | Dec 19, 2018 | News & Updates

PHOENIX, ARIZONA (December 19, 2018) – The Central Arizona chapter of CCIM, commercial real estate’s global standard for professional achievement, has announced its leadership and board for 2019.

Jenette Bennett, CCIM, Kidder Mathews will serve as 2019 President. The leadership group also includes Vice President Belinda Rosthenhausler, Clear Title Agency of Arizona; Treasurer/Secretary Matt Harper, CCIM, NAI Horizon; and Immediate Past President Tracy Altemus, CCIM, Ensemble Real Estate Solutions.

The 2019 board will comprise Bonnie Halley, CCIM, Colliers International; Marina Hammersmith, CCIM, Ensemble Real Estate Solutions; Bobbie Mastracci, CCIM, Phoenix West Commercial; Susan McCall, CCIM, Commercial Property Connect; David Miller, CCIM, Chicago Title Insurance Co.; and Rick Padelford, CCIM, Realty Executives Commercial.

“We are privileged to have a chapter board that is an exceptional group of professionals in commercial real estate and their respective markets in Arizona,” Bennett said. “Our team of volunteers is dedicated to promoting the success and expertise of the commercial real estate community through the CCIM curriculum, speaker programming, and networking events. We are looking forward to a fantastic 2019.”

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.

 

 

 

by Dec 19, 2018
Economic development, improving education among 2019 priorities for NAIOP Arizona

Economic development, improving education among 2019 priorities for NAIOP Arizona

News & Updates

by | Dec 18, 2018 | News & Updates

PHOENIX, ARIZ. (December 18, 2018) — The Arizona chapter of NAIOP, a prominent commercial real estate voice in the state, has framed its guiding principles for the 2019 legislative session around public policies that drive demand for commercial real estate in Metro Phoenix and throughout the state.

“In 2019 we intend to promote legislation that positions our state to be the preferred choice for corporate locations and expansions,” said NAIOP Arizona President and CEO Suzanne Kinney. “We also support public policies that encourage the growth of local businesses through entrepreneurship and new business formation.”

Priority issues for 2019 include:

“NAIOP Arizona will support state legislation to clarify and limit the circumstances under which a city may levy the speculative builder tax,” Kinney said. “The current application of the law lacks certainty for building owners and developers and provides a disincentive for redevelopment.”

As always, NAIOP Arizona will oppose legislation that could increase taxes, fees, and regulations for the commercial real estate industry. When it comes to commercial property taxes, NAIOP will work to retain improvements made in recent years and support further action to make Arizona more economically competitive.

The association will also work to ensure that existing economic development tools remain available for projects that create jobs and contribute to regional economic growth. NAIOP will monitor legislative proposals that could
impact how state universities use their property in real estate development projects and continue to support those projects that benefit the greater community.

Last year, education was a major focus at the state capitol. NAIOP supported Governor Ducey’s 20 by 2020 plan to increase teacher salaries. More work needs to be done to further improve our public schools at the K-12 and
post-secondary levels.

“NAIOP Arizona is working with the broader business community to find sustainable funding solutions that will advance educational outcomes and workforce preparedness without increasing commercial property taxes,” Kinney said. “We will also address current and anticipated future labor shortages in construction and development by supporting Career and Technical Education (CTE) and apprenticeship programs.”

Other issues will include supporting the modernization of transportation infrastructure and working with the Arizona Commerce Authority and other economic development entities to promote private investment in federally-qualified Opportunity Zones.

by Dec 18, 2018
BOMA Greater Phoenix elects new officers, board for 2019; Robert Vincent is president

BOMA Greater Phoenix elects new officers, board for 2019; Robert Vincent is president

News & Updates

by | Dec 18, 2018 | News & Updates

     PHOENIX, ARIZONA (December 18, 2018) — BOMA Greater Phoenix, the industry group that advances the commercial real estate industry through advocacy, influence, and knowledge, elected its 2019 officers and board members via electronic vote of its membership.

Robert Vincent, Cordia Capital Management, was elected President. He is joined by Vice President Melissa Scott, Sunbelt Holdings; Governor Susan Engstrom, Main Street Real Estate Advisors; Treasurer Jayme Bartholomew, Development Services of America; and Allied Chair Doug Brown, Maintenance Mart.

“I am looking forward to the challenges that lie ahead in 2019,” Vincent said. “We have some exciting things we are delivering next year. We are revamping the committee structures and producing top quality educational events for our membership. I also believe that we must continue our advocacy for the commercial real estate industry and make our social media platforms more relevant to our members.

“I truly want to leave a lasting imprint with BOMA Greater Phoenix and lead by example. I am truly honored to serve this wonderful organization and the great people that embody it,” Vincent said.

Board members for 2019: Jessica Allen, Lincoln Property Company; Brett Barendrick, Parallel Capital Partners; Marty Brook, Metro Commercial Partners; Patti Brown, The Muller Company; Michael Chadwick, ViaWest Group; Bruce Coomer, Dircks Moving & Logistics; Toni Covington, ABM Parking Services; Chris Vetter, Transcend Security Solutions; and Nate Williams, Pro-Serv Commercial Cleaning.

BOMA Greater Phoenix wrapped up the year on Dec. 12 with a holiday membership event at the Arizona Biltmore where it honored its top volunteers for their efforts in 2018.

 

by Dec 18, 2018
Terracon’s Tucson office named Advancing Women in Transportation Employer of Year

Terracon’s Tucson office named Advancing Women in Transportation Employer of Year

News & Updates

by | Dec 18, 2018 | News & Updates

      TEMPE, ARIZONA (December 18, 2018) – The Tucson office of consulting engineering firm Terracon was named 2018 Advancing Women in Transportation (WTS) Employer of the Year, Tucson Chapter.

Each year WTS/Tucson honors firms with its Outstanding Recognition Awards. Terracon’s Tucson office was honored for its strong ties to the transportation industry and its dedication to WTS and other professional organizations in the community.

“We are honored and humbled to have received this award,” said Derek Koller, Terracon’s Tucson Office Manager. “As an office, we have several employees who serve and participate with local non-profits and organizations as board members and in other capacities. We are proud of our collective efforts in the community.”

Criteria met for garnering WTS recognition:

  • An organization that has enhanced the transportation industry;
  • An organization with an outstanding record of hiring and promoting at all employment levels;
  • An organization that encourages students, especially women to enter the transportation field by providing scholarships, grants and/or internship opportunities;
  • An organization that supports WTS.

“It’s an honor for our office to receive this recognition and award,” said Bianca Rivera, Administrative Manager I Corporate Service Representative, in Terracon’s Tucson office. “We are fortunate to work for Terracon, an amazing company that encourages our involvement within our community. I’m also honored to be a part of the WTS Tucson Chapter.”

Terracon is an employee-owned consulting engineering firm with more than 4,000 employees providing environmental, facilities, geotechnical, and materials services from more than 140 offices with services available in all 50 states.

Terracon currently ranks 24th on the Engineering News-Record list of Top 500 Design Firms and is ranked No. 1 in Asbestos and Lead Abatement Design.

To learn more about Terracon visit terracon.com/offices/tucson/

 

 

 

 

 

by Dec 18, 2018
Pair of retail property sales totaling $6.1M highlight recent transactions by NAI Horizon

Pair of retail property sales totaling $6.1M highlight recent transactions by NAI Horizon

News & Updates

by | Dec 18, 2018 | News & Updates

     PHOENIX, ARIZONA (December 18, 2018) – The $4.7 million sale of a freestanding retail building in Glendale and the $1.4 million sale of a retail property in in Mesa highlight recent deals closed by NAI Horizon professionals. The deals were closed by NAI Horizon’s Matt Harper, CCIM, and Jeff Adams, respectively.

Sale Transactions:

Matt Harper, CCIM, negotiated the sale of an 11,878 SF retail property, representing the buyer, AXG COM 1, LLC, for $4.7 million. The property is located at 8280 W. Union Hills, Glendale, AZ. Andrew Harrison with Orion Investment Real Estate represented the seller, CC Fund 1 Union Hills North, LLC.

Jeff Adams negotiated the sale of a 32,000 SF retail property, representing both the seller, Shield of Faith Christian Center, and the buyer, AZIZ, LLC, for $1.4 million. The property is located at 460 S. Country Club Dr., Mesa, AZ.

Kim Kristoff negotiated the sale of an 11,173 SF office property, representing the seller, Sidney M. Rosen, for $1.1 million. The property is located at 4323 N. 12th St., Phoenix, AZ. Kristie Phelps-Miller with DPR Realty represented the buyer, 4323 N. 12th, LLC.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon negotiated the sale of a 32,909 SF parcel of land, representing the seller, Phoenix Coffee Real Estate, LLC, for $735,000. The property is located at 12044 N. Cave Creek Rd., Phoenix, AZ. Nick Ault with Colliers International represented the buyer, Avalon Cave Creek, LLC.

Laurel Lewis, Barbara Lloyd and Lane Neville negotiated the sale of a 924 SF office property, representing the seller, Troon, LLC, for $73,920. The property is located at 10031 E. Dynamite Blvd., Scottsdale, AZ. Michael Esquer with No Stress Properties represented the buyer, Raymond Poteet & Beulah I. Poteet.

Laurel Lewis, Barbara Lloyd and Lane Neville negotiated the sale of a 924 SF office property, representing the seller, Troon, LLC, for $69,300. The property is located at 10031 E. Dynamite Blvd., Scottsdale, AZ. Carl Jones Jr. with DeRito Partners Inc. represented the buyer, Desert Valley Skate Co.

Lease Transactions:

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Queen Creek Fiesta, LLC, in a 180-month retail lease for 5,400 SF at 21545 S. Ellsworth Loop Rd., Queen Creek, AZ. Courtney Auther and Cameron Warren with Phoenix Commercial Advisors represented the tenant, GB Auto Services, Inc.

Isy Sonabend represented the tenant, Elliott Electric Supply, in a 74-month industrial lease for 17,573 SF at 21415 N. 15th Lane, Phoenix, AZ. Mike Haenel with Cushman & Wakefield represented the landlord, Meritex Phoenix, LLC.

Tyler Smith, Joe Pequeno and Troy Giammarco represented the landlord, Bay Pacific Phoenix Corporate Center, LLC, in a 26-month office lease for 14,259 SF at 10040 N. 25th Ave., Phoenix, AZ. James Bayless with CBRE represented the tenant, GC Services Limited Partnership.

Kevin Higgins, Barbara Lloyd and Lane Neville represented the landlord, Bogle Family, LLLP, in a 61-month office lease for 3,023 SF at 7227 N. 16th St., Phoenix, AZ.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Biscuits Café Inc., in a 47-month retail sublease for 3,249 SF at 2090 N. Dobson Rd., Chandler, AZ.

Tyler Smith represented the landlord, Palm Valley Center Limited Partnership, in a 38-month office lease for 3,089 SF at 1626 N. Litchfield Rd., Goodyear, AZ. Mike McQuaid with Newmark Knight Frank represented the tenant, Dibble & Associates Consulting Engineers, Inc.

Troy Giammarco, Tyler Smith and Joe Pequeno represented the tenant, BRC Development, LLC, in a 64-month retail lease for 2,779 SF at 4700 N. Central Ave., Phoenix, AZ.

Tyler Smith, Joe Pequeno and Troy Giammarco represented the landlord, Eugini Real Estate Investments, LLC, in a 63-month office lease for 2,511 SF at 3770 N. 7th St., Phoenix, AZ. Felix Martinez with Sovrano Realty represented the tenant, The Schmidt Law Group, P.C. and John W. Blischak dba Blischak Schmidt Law Group.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Los Rios Farms, Inc., in a 60-month retail lease for 3,413 SF at 4705 E. Carefree Highway, Cave Creek, AZ. Bryan Colombik with Catalyst Commercial represented the tenant, Fit Body Boot Camp.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Heroz 1, LLC, in a 60-month retail lease for 1,300 SF at 2055 W. Frye Rd., Chandler, AZ. Matthew Kostrivas with ZDI Realty Advisors represented the landlord, The Landry Trusts.

Laurel Lewis and Dylan Whitwer represented the tenant, Aviant Healthcare, LLC, in a 38-month office lease for 2,914 SF at 2430 W. Ray Rd., Chandler, AZ. Grafton Milne with Menlo Group represented the landlord, MG & SK Investments, LLC.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented both the landlord, CP6MF, LLC, and the tenant, Poki and Crepe, LLC, in a retail lease for 1,050 SF at 1840 E. Warner Road, Tempe, AZ.

Laurel Lewis and Dylan Whitwer represented the tenant, Copper Communities Hospice, LLC, in a 39-month office lease for 2,738 SF at 1400 N. Gilbert Rd., Gilbert, AZ. Shane McCormick with Commercial Properties Incorporated represented the landlord, Community Investments, LLC.

Matt Harper, CCIM, represented the tenant, Quayle Home Care, Inc., in a 40-month retail lease for 2,000 Sf at 5153-5155 W. Thunderbird Rd., Glendale, AZ. John P. Reinhardt with Industrial Property Specialists represented the tenant, Quayle Home Care, Inc.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, New Bell Tower, LLC, in a 36-month retail lease for 1,705 SF at 4925 W. Bell Rd., Phoenix, AZ. Aron Sanchez with AMP Real Estate represented the tenant, ReVamp Renovation & Floor Care.

Mark Wilcke represented the tenant, Spotlight Signs and Imaging Solutions, LLC, in a 24-month industrial lease for 3,050 SF at 1310 N. Acacia Dr., Gilbert, AZ. Matt McDougall with Lee & Associates represented the landlord, R.D. Carter, LLC.

Rick Foss represented the landlord, Friedman Anthem, LLC, in a 24-month industrial lease for 1,331 SF at 42302 N. Vision Way, Anthem, AZ.

by Dec 18, 2018
NAI Horizon negotiates long-term lease worth $2.16M for Planet Fitness in North Phoenix

NAI Horizon negotiates long-term lease worth $2.16M for Planet Fitness in North Phoenix

News & Updates

by | Dec 12, 2018 | News & Updates

PHOENIX, ARIZONA (December 12, 2018) – NAI Horizon negotiated a long-term lease for Planet Fitness at 8921 N. 7th St., in North Phoenix.

In the past year, NAI Horizon has negotiated long-term leases totaling more than $23 million for Planet Fitness locations across the Valley.

The NAI Horizon retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek, Gabe Ortega, and Associate Patrick Anthon represented the tenant, United PF TOM LLC of Austin, Texas, in the Phoenix transaction totaling $2.16 million.

“This was an opportunity in a trade zone that has been overlooked by many other concepts,” Tworek said. “With the remodeling of this shopping center, this will be an exceptional location in a great neighborhood for Planet Fitness.”

The Phoenix Planet Fitness will occupy a vacant building totaling 19,764 square feet that previously housed a Goodwill store.

The landlord, 7th Street & Townley LLC, of Phoenix was represented by Jason Hersker of Capital Asset Management.

 

 

 

 

by Dec 12, 2018
Jennifer Cranston named 2019 AZCREW President; 2018 provided big victories

Jennifer Cranston named 2019 AZCREW President; 2018 provided big victories

News & Updates

by | Dec 12, 2018 | News & Updates

PHOENIX, ARIZ. (December 12, 2018) – AZCREW, the leading organization for senior-level executive women in the Metro Phoenix commercial real estate field, has named Jennifer Cranston, Shareholder, Gallagher & Kennedy, its president for 2019.

Other officers for 2019: Cindy Winters, Eagle Commercial Realty Services, past president; Dana McDonald, North American Title Company, membership; Lorna Banister, Ballard Spahr, sponsorship; Lindsey Carlson, Colliers International, programs; Lisa Tinnion, CIS, and Amber Coleman, CBRE, public relations; Francine Moore, Macerich, special events; Winters, legacy; Heather Fox, Wells Fargo, foundation; Terry Martin-Denning, NAI Horizon, treasurer and president elect; and Mara Atwell, VEREIT, secretary.

“It’s a tremendous honor to serve as president of AZCREW in 2019,” Cranston said. “I look forward to building on the successes we achieved in 2018 under Cindy’s fantastic leadership and the hard work of our board of directors.”

Highlights for 2018:

>> AZCREW was selected as the YWCA’s 2019 Tribute to Leadership Women’s Empowerment Corporate honoree. The award recognizes individuals and corporations 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, empowerment, a commitment to diversity and inclusion and volunteerism.

AZCREW partnered with the YWCA in 2017 and has provided more than $22,000 in donations to support the YWCA and its programs. AZCREW and the YWCA put on several events featuring panels with women in prominent leadership roles in hopes to inspire women in commercial real estate to assume and aspire to positions of leadership.

>> AZCREW presented $10,000 in scholarships to a pair of Arizona State University Master of Real Estate Development (MRED) students. The scholarship winners – Marjorie Wakefield and Santiago Fajardo – were announced at AZCREW’s annual Black & White Affair, held Oct. 24 at Pubblico Italian Eatery. The event benefits AZCREW’s “MRED Dollars for Scholars” program.

Over the past 8 years, AZCREW has supported MRED students by awarding more than 14 scholarships totaling nearly $40,000. It was the best attended Black & White ffair since its inc

by Dec 12, 2018
NAI Horizon represents buyer and seller in acquisition of $1.4M Mesa retail building

NAI Horizon represents buyer and seller in acquisition of $1.4M Mesa retail building

News & Updates

by | Dec 11, 2018 | News & Updates

         PHOENIX, ARIZONA (December 11, 2018) – NAI Horizon Senior Vice President Jeff Adams represented the buyer and the seller in the $1.4 million acquisition of a freestanding retail building at 460 N. Country Club in Mesa, Arizona.

Adams represented AZIZ, LLC, an Arizona limited liability company of Tempe, Arizona, in its purchase of the 32,400-square-foot property. Adams also represented the seller, Shield of Faith Christian Center, an Arizona non-profit corporation of Gilbert, Arizona.

“This transactions was a win for both sides,” Adams said. “The buyer was able to complete his acquisition of the entire arterial corner consisting of nearly 77,000 SF on roughly 7.53 acres, increasing his future flexibility. The seller is moving into a new space that better fits its needs. This was a smooth transaction with two cooperative, willing parties.”

The buyer plans to run an import business out of the building, which sits on 2.33 acres. The building also will serve as a storage facility. It features 100 percent improved HVAC system and is an arterial corner facility in Mesa.

 

 

 

 

 

by Dec 11, 2018
Arizona Multihousing Association selects its 2019 leadership group, board members

Arizona Multihousing Association selects its 2019 leadership group, board members

News & Updates

by | Dec 11, 2018 | News & Updates

     PHOENIX, ARIZONA (December 11, 2018) – Arizona Multihousing Association, the statewide trade group for the apartment industry, elected 2019 officers and board members at its December 6 board meeting.

Assuming the chair is John Carlson, President of Mark-Taylor Residential. The rest of the leadership group comprises Wendy Weiske, vice chair, Dunlap & Magee; Kim Pacheco, treasurer, Scotia Group Management; Reid Butler, secretary, Butler Housing Company; Nicole Wray, immediate past chair, Greystar; and Adam Grecco, AMC executive, Burns Pest Elimination.

“My goal is to energize and engage,” Carlson said. “We have a board that is 50 strong, the industry is growing, and we are at the forefront of providing quality housing to over 37 percent of Arizonans. The success of the apartment industry is something we’re proud of. It’s like being the Yankees. Everyone is chasing you and some are jealous.

“Being in that role puts a certain amount of responsibility on us. This industry is as strong as ever. Through our legislative work and affiliation with NAA (National Apartment Association), we intend to keep it going strong. We’re the fifth largest NAA affiliate in the U.S. and one of the most proactive; we’re also the fourth largest trade organization in Arizona. I’m looking forward to a great year,” Carlson said.

Board members for 2019: Elizabeth Beaulieu, Quarterpenny Management; Krisanne Beckstead, Picerne Real Estate Group; Lauren Borgeson, Mark-Taylor; Lesley Brice, MC Residential; Sue Campbell, Redi Carpet; Scott Clark, Law Office of Scott Clark; Linda Coburn, NexMetro Development; Scott Cook, Shelton-Cook Real Estate Services, Inc.; Crystal DeHoag, Bella Investment Group; Kohl Eisenhour, Avenue 5 Residential; Kimberly Fitch, Nicolosi & Fitch, Inc.; Tim Furnas, Valley Wide Security.

Shelly Griggs, Baron; Danny Harris, CoStar; Robert Hicks, Alliance Residential Company; Scott Hines, PEM Real Estate Group; Stacey Hogue, Greystar; Susan Knowles, J.R. McDade; Matt Koglmeier, Koglmeier Law Group PLC; David Kotin, Kay-Kay Realty; Jim Kowalski, Kowalski Construction; Dustin Lacey, Mark-Taylor; Omar Mireles, HSL Asset Management.

April Morris, Cox Communications; Melanie Morrison, MEB Management Services; Gloria Munoz, Maricopa County Housing; Lisa Osborn-Warne, Priderock; Kevin Ransil, JLB Partners/JLB Residential; Rich Renta, Weidner; John Rials, Western Wealth Capital; Lisa Rosenfeld; HSL; Mark Schilling, MEB; Tina Schreiber, Alliance; Stacey Searl, Weidner; Christine Shipley, Dunlap & Magee.

Michelle Sinclair, MC Residential; Justin Steltenpohl, P.B. Bell Companies; Greg Stobart, MG Properties; Carmen Suggs, ConAm; David Vanek, Greystar; Luis Verger, Shelton-Cook; Debbie Willis, P.B. Bell; and Mark Zinman, Williams, Zinman & Parham, PC.

The AMA’s signature events are the Tribute Awards held in May at the Phoenix Convention Center and the annual golf tournament held in October, played this year at Starfire Golf Club in Scottsdale.

AMA received additional recognition this past year when Mike Clow of Greystar Real Estate Partners was named NAA Board Chair for 2019.

by Dec 11, 2018