News & Updates

NAIOP Arizona, Junior Achievement celebrate the third semester of successful student program at GateWay Early College High School in Phoenix

News & Updates

by Peter Madrid | Dec 18, 2023 | News & Updates

PHOENIX, ARIZONA (December 18, 2023) –The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, partnered again this semester with Junior Achievement of Arizona to teach a course entitled Real Estate Development and the Built Environment to students at GateWay Early College High School.

During the six-week program, volunteers from NAIOP Arizona taught students the basics of commercial real estate development, including different building types, entitlements, and zoning, financing a project, putting together a team, and finding tenants.

NAIOP volunteer instructors included Rodney Boden and Alex Boles, ViaWest Group; Eric Whitehurst, Kimley-Horn; Chad Schleicher, City of Tempe; David Kinney, Raintree Capital; Lucy Ray, Western Alliance Bank; Gonzo Gonzalez, Keeley Construction; Vicente Ruiz, Trammell Crow Company; Stirling Pascal, Stream Realty; and Jennifer Villalobos, Cushman & Wakefield.

“Each semester our partnership with Junior Achievement and GateWay Early College High School becomes stronger,” said Suzanne Kinney, President and CEO of NAIOP Arizona. “We are honored to be able to offer this curriculum to students who may become future commercial real estate professionals.”

The program culminated with a student competition on Dec. 6. Four teams presented their projects to a group of five NAIOP volunteers who evaluated the projects from the perspective of potential investors. Serving as judges were Eric Whitehurst, Kimley-Horn; Gonzo Gonzalez, Keeley Construction; Stirling Pascal, Stream Realty; Jennifer Villalobos, Cushman & Wakefield; and Danny Swancey, ViaWest Group.

“It was great to hear my students preparing for their presentations and to listen in on their amazing conversations about the buildings. Some students talked about how long it would take to build these buildings. Some talked about the location of these buildings and why they would put them in by certain businesses. They started paying attention to details about their buildings such as parking and window coverings,” said Darnetta Fair, teacher at GateWay Early College High School. “These students were owning this project! That is when I realized what an impact this learning and Junior Achievement has had on my students. They were exposed to careers and other learning objectives that they otherwise might not have been able to take part of.”

The winning group, called Skyline Offices, presented an employee-centric office project in Tempe. The six students in the winning group were presented with first-place certificates and Amazon gift cards.

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 20,000 members in North America. The Arizona Chapter is among the largest in the bi-national network with over 1,000 members and is among the largest in the 50+ network. For more information, visit naiop.org or naiopaz.org.

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by Peter Madrid Dec 18, 2023

NAIOP Arizona Developing Leaders Young Professionals Group celebrates 2023 program with graduation of 20 protégés, project winner

News & Updates

by Peter Madrid | Dec 14, 2023 | News & Updates

PHOENIX, ARIZONA (Dec. 13, 2023) – Now in its 12th year, NAIOP Arizona’s Developing Leaders Young Professionals Group (YPG) mentorship program graduated 20 protégés.

Mentors and protégés of the 2023 class gathered Dec. 7, at the Phoenix Country Club for a reception, presentations, and dinner. The 20 protégés, grouped into five teams, each pitched a development proposal for a site located at Pima Road and Princess Drive near TPC Scottsdale to a potential equity partner.

As part of their equity partner’s review of the development proposals, presentations were judged by the projects’ ability to provide the highest and best use of the site while generating a positive yet realistic projected return on investment.

Chris Beall, Stream Realty, and Josh Schifferer, GO Industrial served as 2023 program chairs. “The YPG program gives Developing Leaders across all trades the ability to experience what goes into getting a development out of the ground while networking with peers and industry leaders,” Beall said.

This year’s winner was Perimeter Center, an industrial park. Team members included Hunter Fadynich, CHASSE Building Team; Casey Koziol, Colliers; Dylan Whitwer, NAI Horizon; and Chase Woosley, Cotton Architecture + Design. The team was led by mentor Alex Boles of ViaWest Group.

“I’m extremely impressed by my group in this year’s YPG program. A diverse group of young professionals came together and learned about real estate development in an accelerated program and they crushed it. There’s nothing easy about the requirements of this program, however, the team pushed themselves to learn, adapt, and analyze a development deal and I’m very proud of their work and final presentation,” Boles said.

Additional mentors for this year’s class were Brandon Dillingham, Hines; Kevin Miller, Kitchell Development Company; Alicia Saxby, Prologis; and Andy Snedeker, Suntec Concrete.

Other program graduates included:

Team Dillingham: Stephanie Oleska, SmithGroup; Danny Schuster, Colliers; Violet Thornton; Kitchell Development Company; Lorraine Urie, HomeGuard Exterior Construction Services.

Team Miller: Patrick Bush, Langan; Nick Salzle, Tramell Crow Company; Matt Terpstra, Bellwether Enterprises; Jennifer Villalobos, Cushman & Wakefield.

Team Saxby: Han Han, Irwin G. Pasternack, AIA + Associates, PC; Jake McClaughry, Western Retail Advisors; Bryce Quigley, Kimley-Horn; Ian Wright, Wespac Construction.

Team Snedeker: Pruthvi Akarapu, GCON; Christian Crandell, Jokake Construction; Blake Peters, Lee & Associates Arizona; Chukwuemeka (Emeka) Ukaga; Michael Baker International.

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 20,000 members in North America. The Arizona Chapter is among the largest in the bi-national network with over 1,000 members and is among the largest in the 50+ network. For more information, visit naiop.org or naiopaz.org.

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by Peter Madrid Dec 14, 2023

NAI Horizon continues strategic growth with hiring of Cecelia Martinez as Marketing Specialist

News & Updates

by Peter Madrid | Dec 14, 2023 | News & Updates

PHOENIX, ARIZONA (Dec. 14, 2023) – NAI Horizon continues its strategic growth, hiring its newest marketing team member, Cecelia Martinez, as Marketing Specialist.

Martinez is responsible for creating and updating marketing materials and e-blasts, creating property offering memorandums and marketing packages, and proposals for new businesses. She has experience with research, communication, photography, and marketing.

“Cecelia brings experience with all aspects of commercial property marketing,” said NAI Horizon CEO/Designated Broker Terry Martin-Denning. “Adding a team member with that background will be invaluable to our agents and their clients.”

Martinez has worked in commercial real estate marketing and graphic design for the past eight years. She was the Senior Graphic Designer with Capital Asset Management (CAM) for 2½ years.

Prior to joining CAM, she was part of ZELL Commercial Real Estate Services, which CAM acquired in late 2021. During her 2½ years at CAM, she drove the marketing efforts for the brokerage team and property managers.

A native of Phoenix, Martinez enjoys photography, going to movies, reading, and spending time with family and her dogs Pepper and Rooni. She holds an associate degree in visual communication from Collins College.

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 Dec 14, 2023

Exceptional Healthcare purchases 10-acre parcel, plans to bring new hospital to Eloy, Arizona

News & Updates

by Peter Madrid | Dec 14, 2023 | News & Updates

Scottsdale, Ariz. (Dec. 14, 2023) –Exceptional Healthcare completed the purchase of 10 acres in Eloy, Arizona, and plans to build a new hospital to serve the growing communities of Eloy, Arizona City, Coolidge, and Casa Grande. The area has doubled its population since 2000 and continues to experience rapid growth.

The planned new hospital, which will be located at the northeast corner of Interstate 10 and Sunshine Boulevard in Eloy, Arizona, will have eight inpatient rooms, an 11-room emergency department, and a wide range of medical services, all aimed at meeting the healthcare needs of Eloy’s residents and the surrounding communities.

Saeed Mahboubi, CEO & Founder of Exceptional Healthcare, expressed his enthusiasm for the project saying, “We are thrilled to bring Exceptional Community Hospital to the City of Eloy. Our mission has always been to deliver exceptional care to our patients, and with this new facility, we are one step closer to making that vision a reality for the people of Eloy and the neighboring areas. We are committed to providing high-quality medical services that prioritize the well-being of our patients.”

Land Advisors Organization Pinal County Specialists Kirk McCarville, CCIM, and Trey Davis facilitated the $1.31 million transaction on behalf of the seller, Walton International Group, to Exceptional Healthcare. The subject land is shovel-ready and includes I-10 frontage road access. A groundbreaking ceremony for the new hospital will be held on Wednesday, January 24, with a planned opening date in late 2024.

“Exceptional Healthcare has extensive experience developing hospital campuses across the state of Arizona and recognized the growing healthcare needs of the area,” said McCarville. “Being able to facilitate the sale of this shovel-ready land for such an important community use has been very rewarding. The city of Eloy’s economic development department worked diligently to bring in a great partner with Exceptional Healthcare and ensure our community gains this much-needed asset.”

Exceptional Healthcare operates hospitals in Arizona and Texas with additional facilities opening in Oklahoma, and New Mexico.

Over the past several years, Casa Grande has received significant attention at the national and international levels with announcements by major manufacturers expanding or relocating to the market. Land Advisors Organization has facilitated bringing many companies and numerous new jobs to the area, including Lucid Motors, Kohler, Chang Chun Chemical, and Air Products. There continues to be tremendous interest from manufacturers, semiconductor supply chain and electric vehicle manufacturer suppliers to the area.

About Exceptional Healthcare

Exceptional Healthcare is dedicated to providing high-quality medical services to communities across the United States. With a focus on patient care, cutting-edge technology, and compassionate healthcare professionals, Exceptional Healthcare is committed to delivering exceptional results in healthcare.

About Land Advisors Organization

Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville and San Diego, California; Orlando, Jacksonville and Tampa Bay, Florida; Atlanta, Georgia; Charlotte, North Carolina; Greenville, South Carolina; Nashville, Tennessee; Boise, Idaho; Las Vegas, Nevada; Albuquerque, New Mexico; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah; Kansas City, Kansas; and Seattle, Washington. Stay connected with Land Advisors Organization on Twitter, Facebook and LinkedIn.

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by Peter Madrid Dec 14, 2023

IREM Greater Phoenix Chapter announces 2024 Board, Advisory Council leadership; Carrie Temple with ViaWest Group is incoming President

News & Updates

by Peter Madrid | Dec 13, 2023 | News & Updates

PHOENIX, ARIZONA (Dec. 13, 2023) – The Greater Phoenix Chapter of the Institute of Real Estate Management (IREM^®), an international community of real estate managers dedicated to ethical business practices, has announced its 2024 Board of Directors and Advisory Council.

The 2024 Board of Directors comprises President, Carrie Temple, CPM^®, ViaWest Group; President-Elect, Tom Coughlin, CPM^®, Stream Realty Partners; Secretary/Treasurer, Lauren Lacasse, CPM^®, Sagard Real Estate; Director, Debbie Mitten, CPM^®, ViaWest Group, and Past-President, Ed Valerio, CPM^®, Link Logistics.

The Advisory Council includes Ann Boomsma, CPM^®, MEB Management Services, AMO^®; Yvonne Cisman, CPM^®, ARM^®, Wasatch; Kristin Gibbons, CPM^®, Kidder Mathews; Kelsey Huggins, CPM^®, Orion Office REIT; Danielle Jones, CPM^®, Texas Capital Partners; Emily Mehta, CPM^®, Shorenstein Realty Services; and Jonathan Yee, CPM^®, Vestar.

“As we welcome in our 60^th year as an IREM Chapter, I am honored to be a part of such a forward-thinking, education-centric organization that invests in its members,” Temple said. “We are grateful to our industry partners who are engaged and are instrumental in our ability to bring programs to our members. In addition, our committees are led by top industry leaders who will take the organization to a new level and help IREM achieve its goals in the upcoming year and going forward.”

The IREM Greater Phoenix Chapter completed a successful 2023, with numerous accomplishments to its credit. They include:

49 new members (7 CPM^®, 1 ARM^®, 3 ACoM^®, 20 candidates, 12 associates and 6 students;
24 scholarships awarded from the IREM Foundation;
$8,000 raised for UMOM New Day Centers by the IREM/RestorationHQ Golf Tournament;
16 networking events, including the 2023 IREM/CCIM/Next Protection Economic Forecast.

“This past year has been no different than any other because IREM has always had great industry leaders running this organization, and we will continue to do so in the foreseeable future,” Valerio said. “It’s the extra effort and sincere desire for everyone on our Board to make the next year just slightly better than the year before, and that has helped us grow into an effective and valued professional management organization.”

The 2024 IREM/CCIM/Next Protection Economic Forecast is scheduled for Jan. 18 at the JW Marriott Camelback Inn Resort, 5402 E. Lincoln Dr., in Scottsdale. Registration is now open.

IREM memberships empower college students, young professionals and industry veterans who are committed to career advancement. IREM certifications CPM^®, ARM^®, ACoM^®, and AMO^® demonstrate a commitment to good management. These certifications, along with its courses and an array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage.

About Institute of Real Estate Management (IREM^®)

We’re an international institute for property and asset managers, providing complete knowledge to take on real estate management’s most dynamic challenges. That means knowledge prepared for the day-to-day and the one-of-a-kind: from solving the latest tenant crisis to analyzing market conditions.

For 90 years, our members have made us the world’s strongest voice for all things real estate management. Today, almost 20,000 leaders in commercial and residential management call this home for learning, certifications, and networking.

We believe in our people, and we provide the tools they need to succeed. We open doors, we forge connections, and we help show the way forward. Backed by the power that comes with being an affiliate of the National Association of REALTORS ^®, we add value to our members, who in turn add value to their teams, their workplaces, and the properties in their commercial and residential portfolios. Our memberships empower college students, young professionals, and industry veterans who are committed to career advancement. Earning our certifications, including the CPM^®, ARM^®, ACoM^®, and AMO^®, demonstrates a commitment to, and passion for, good management. These credentials, along with our courses and array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage.

Learn more about us at irem.org or the Greater Phoenix Chapter at iremphx.org.

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by Peter Madrid Dec 13, 2023

ULI Arizona District Council presents 19th Annual Trends Day, which will feature myriad of relevant issues affecting Arizona’s real estate community

News & Updates

by Peter Madrid | Dec 12, 2023 | News & Updates

PHOENIX, ARIZ. (Dec. 12, 2023) – Reimagining office properties. A perspective on parking. Housing affordability and homelessness. Powering Arizona’s future. The industrial market.

Those are just a few of the deep-dive topics to be discussed as ULI Arizona presents its 19^th Annual Trends Day March 5 at the JW Marriott Desert Ridge Resort & Spa. Trends Day brings together more than 30 top industry experts to discuss the most current state and national real estate trends.

“Trends Day is truly a ‘who’s who’ of the development industry in the Southwest, in both speakers and attendees,” said Deb Sydenham, FAICP, Executive Director, ULI Arizona District Council. “The Trends Committee, under the leadership of Keyvan Ghahreman, Director of Operations, Willmeng, has curated a compelling host of topics that will provide solid take-home value to the audience.”

ULI Arizona’s Trends Day is recognized as the third-largest ULI program globally.

Trends Day 2024 kicks off with the annual economic outlook, delivered this year by Peter Ricchiuti, Director, Burkenroad Reports, Senior Professor of Practice, A.B. Freeman School of Business at Tulane University.

The economic outlook launches Trends Day with a high-level look at macroeconomic trends in the U.S. economy and around the globe. Through an engaging presentation, Ricchiuti will offer the outlook for commercial real estate, especially as it pertains to the continued long-term ramifications of the pandemic, including the future of work and challenges related to economic growth.

The topic of the Trends Day Debate will be: “Can Urban and Rural Development Patterns Co-Exist in a Water Competitive Environment?” Arizona’s growing economy brings increasing pressure on the state’s limited water supplies and creates tensions between urban and rural communities.

These tensions are manifested through the conflicting enforcement of the 100-year assured water supply requirements of the Arizona Groundwater Management Act, policy and funding choices for additional water resources, and conversions of agricultural uses to municipal uses. The debate will focus on policy choices between urban and rural interests and explore areas where both interests can be positively advanced.

The debate will be moderated by Nina Mullins, Senior Director of Land and Papago Park Center, Salt River Project. Urban panelists include Grady Gammage, Jr., Partner, Gammage & Burnham; and Sarah Porter, Director, Kyl Center for Water Policy, Morrison Institute for Public Policy, Arizona State University.

Rural panelists include Eric Orsborn, Mayor, City of Buckeye; and Chip Sherrill,Managing Partner, 4-B Farms; Chairman, Mohave Valley Irrigation and Drainage District.

The Trends Day 2024 Keynote Speaker will be Leon Logothetis, global adventurer, author, and creator of the book and Netflix series “The Kindness Diaries.” His topic will be Go Be Brave: Becoming Fearless, Wiser and Truly Magnificent.”

Logothetis is a modern-day explorer of human connection, renowned for his captivating journeys that blend adventures with a profound social mission. With a spirit fueled by empathy and a genuine curiosity about the human experience, Leon has embarked on remarkable expeditions across the globe, relying solely on the kindness of strangers for his survival. Through his travels, speaking engagements, and impactful documentaries, he has become a powerful advocate for the idea that the world’s most valuable currency is not money, but the compassion and connections we share with one another.

Early pricing until Dec. 22: private, $325 member; $425 non-member; public/academic/non-profit, $225 member, $325 non-member; retired $225 member; student, $120 member, $175 non-member; and under 35, $225 member, $425 non-member.

Standard pricing until Feb. 23: private, $425 member; $525 non-member; public/academic/non-profit, $300 member; $400 non-member; retired $300 member; student, $195 member, $250 non-member; and under 35, $300 member, $525 non-member.

Trends Day 2024 runs from 7 a.m. to 5 p.m. The JW Marriott Desert Ridge Resort & Spa is located at 5350 E. Marriott Drive in Phoenix. Register here.

About ULI

The Urban Land Institute is a 501[c][3] nonprofit research and education organization supported by its members. Founded in 1936, the Institute has more than 45,000 members worldwide, representing the entire spectrum of land use and real estate development disciplines working in private enterprise and public service. As the preeminent multidisciplinary land use and real estate forum, ULI facilitates an open exchange of ideas, information, and experience among local, national, and international industry leaders and policy makers dedicated to creating better places. Learn more about ULI Arizona at arizona.uli.org.

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by Peter Madrid Dec 12, 2023

Recent deals by NAI Horizon agents showcase land and retail building sales totaling $14.8M

News & Updates

by Peter Madrid | Dec 12, 2023 | News & Updates

PHOENIX, ARIZONA (Dec. 12, 2023) – Four parcels of land and a retail building at a Phoenix mall totaling $14.8 million highlight recent deals closed by NAI Horizon professionals. The building alone fetched $7.13 million.

Sales Transactions:

Jeffrey Garza Walker negotiated the sale of a 120,000 SF retail building for $7.13 million, representing the buyer, Club Capri Real Estate, LLC. The property is located at 7611 W. Thomas Road, Phoenix, AZ. The seller, Seritage SRC Finance, LLC, was represented by Trent Steeves with CBRE.

Matt Harper, CCIM, negotiated the sale of 1.63 acres for $2.5 million, representing the seller, EAA Investment Group, LLC. The property is located at 8250 W. Glendale Ave., Glendale, AZ. The buyer, Ultra Clean Intermediate, LLC, was represented by Brad Ranly with Velocity.

Lane Neville and Cole Neville negotiated the sale of 4.716 acres for $2.3 million, representing the seller, Marketplace Square at Estrella, LLC. The property is located at 10047 S. Estrella Parkway, Goodyear, AZ. The buyer, Estrella Mountain Lago, LLC, was self-represented.

John Filli negotiated the sale of 112.89 acres for $2 million, representing the buyer, Royal Estates at Corrales, LLC. The property is located at NWC of Cornman & Corrales Roads, Casa Grande, AZ. The seller, James C. Soft, as personal representative of the estate of Audrey A. Hanks Irrevocable Trust, was represented by Rock Earle & Matt Herrington with Rox Commercial.

John Filli negotiated the sale of 54 acres for $864,000, representing the buyer, Royal Estates at Hanna, LLC. The property is located O Hannah Road & Palomas Drive #233, Casa Grande, AZ. The seller, Daniel L. Levine, as successor Trustee of the Lois O. Levine Trust, was represented by Annalisa Tapia, GRI, with Coldwell Banker Rox Realty.

Lease Transactions:

Thomas Bean, CCIM and Matt Harper, CCIM, represented the tenant, Keerthi Reddy Gade, Bikshma Thaikonda and Sujana Thatikonda in a 64-month retail lease for 2,472 SF at 6340 S. McClintock, Tempe, AZ. The landlord, Tempe Square Consolidation, LLC, was represented by Cliff Johnson, Kidder Mathews.

Larson Wilcke and Thomas Bean, CCIM, represented the tenant, Auto Rehab, LLC, in a 36-month industrial lease for 3,076 SF at 1725 W. Williams Drive, Phoenix, AZ. The landlord, Pegasus Deer Valley Owner, LLC, was represented by Keith Clark with Commercial Properties Inc.

Matt Harper, CCIM, represented the landlord, EEMAD, LLC, in a 39-month retail lease for 1,975 SF at 5830 N. 59^th Ave., Glendale, AZ. The tenant, AKA Wireless, Inc., was represented by Jake McClaughry with Western Retail Advisors, LLC.

Matt Harper, CCIM, represented the landlord, HBR Properties, LLC, in a 36-month retail lease for 792 SF at 3825 N. 75^th Ave., Phoenix, AZ. The tenant, Fernando R. Fernandez was self-represented.

Matt Harper, CCIM, represented the landlord, 1241 E. Broadway Plaza, LLC, in a 36-month retail lease for 3,640 SF at 1241 E. Broadway, Mesa, AZ. The tenant, El Venue, LLC, was self-represented.

Thomas Bean, CCIM, and Matt Harper, CCIM, represented the tenant, Johns & Johns, PLLC, in a 26-month office lease for 1,509 SF at 3200 N. Hayden Road, Scottsdale, AZ. The landlord, Petwin 3220 Hayden Corp., was represented by Keri Davies and Jason Reddington with LevRose.

Thomas Bean, CCIM, and Matt Harper, CCIM, represented the landlord, Sun City Professional Building, in a 12-month office lease for 319 SF at 12630 N. 103^rd Ave., Sun City, AZ. The tenant, Roto Rooter Services Company, was self-represented.

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 Dec 12, 2023

Martens Development begins construction of 278,000 SF industrial complex in SW Phoenix

News & Updates

by Peter Madrid | Dec 7, 2023 | News & Updates

Scottsdale, Ariz. (December 7, 2023) — Martens Development Company (MDC) announces the beginning of construction of its 20-acre Park 91, a new 278,000 SF Class A industrial development, located at the southwest corner of 91st Ave and Buckeye Road in Phoenix, Arizona.

The new complex is the second phase of Logic Park, a successful 739,000 sf industrial park on 44 acres, which will serve multiple tenants by offering various leasing size options.

Park 91 will include a standalone 102,000 SF building and a second standalone 176,000 SF building which are capable of serving tenants ranging in size from 20,000 to 175,000 SF with its new Southwest Valley facilities. Construction is expected to complete in late 2024.

“We’re thrilled to announce the completion of financing and start of construction for the Park 91 industrial complex,” said David Martens, principal with MDC. “Our goal is to deliver space that meets the needs of the submarket, for both single and multi-tenant occupants. This is a vibrant area that is experiencing significant economic development and we’re pleased to be bringing new industrial space to accommodate the area’s growing demand.”

MDC aligned with private lender Trez Capital for the construction financing on Park 91. Trez Capital provides private financing to property developers for a variety of purposes including acquisition, refinancing, horizontal development, vertical development, land banking/lot banking and bridge financing on property deemed suitable to its investment strategy.

“We are excited to work with such an experienced developer and to have this opportunity to expand our footprint in the Phoenix market,” said Jason Stowe, vice president of origination at Trez Capital.

“Our ability to help secure a strategic lender for MDC is a true testament to their experience and the solid investment fundamentals that exist within the West Valley,” said Roman Nelson of CapMatrix, whose team served as strategic capital advisor on the transaction.

The project’s architect is Ware Malcomb and Wespac is the general contractor. Kimley-Horn is serving as the project engineer, and leasing is being handled by Gary Anderson at Cushman & Wakefield.

“We are very proud to represent MDC as the leasing team at Park 91 and helping to fill this market’s demand for quality industrial space. We look forward to a very successful endeavor,” said Anderson.

The MDC team has a proven track record of developing Class-A warehouse and distribution developments throughout the Phoenix MSA. MDC has over 47 years of development experience, delivering more than 4.5 MSF of industrial space within the last five years within the Phoenix MSA. Park 91 is congruent with MDC’s industry-leading strategic planning for the Phoenix market’s industrial needs.

About Martens Development Company

MDC is a real estate investment firm based in Scottsdale, Arizona, which focuses on investment opportunities in the Southern United States. Founded in 1994, MDC, formerly known as Marwest, has been advising capital sources on development and value-add opportunities on behalf of their clients by providing unbiased analysis and a comprehensive real estate management solution to projects in the region. For more information about Park 91 visit: http://park91.com

About Trez Capital

Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity financing solutions across North America. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndications, and joint-ventures; and provides property developers with quick approvals on flexible short- to mid-term financing.

With offices across North America, Trez Corporate Group has over CAD $5.3* billion in assets under management and has funded over 1,700 transactions totaling more than $17.5 billion CAD since its inception. The Dallas office has funded more than $6.2 billion in loans.

(*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $3.0 billion Manager AUM (Trez Capital Fund Management Limited Partnership)).

by Peter Madrid Dec 07, 2023

NAI Horizon facilitates long-term lease to bring Cornish Pasty Co. to historic Glendale building

News & Updates

by Peter Madrid | Dec 5, 2023 | News & Updates

PHOENIX, ARIZONA (Dec. 5, 2023) – A popular British-themed Valley restaurant and pub is joining an exciting lineup of establishments at the historic Gaslight Building in Downtown Glendale.

NAI Horizon Managing Director | Retail, Matt Harper, CCIM, represented the landlord in a long-term lease for the Valley’s eighth location of Cornish Pasty Co., at 5747-5751 W. Glendale Ave., in Downtown Glendale. Cornish Pasty will take 3,510 SF.

Cornish Pasty joins Simple Machine Brewing at the Gaslight Building. Last year Harper also represented the landlord in the retail lease for Simple Machine Brewing.

“We are excited to reach full occupancy on our commercial storefronts at this great location with these great local concepts,” Harper said. “Their vibrancy and collaborative co-tenancy will be a destination for visitors to Downtown Glendale and the surrounding West Valley for years to come.”

Cornish Pasty’s other Valley locations include Tempe, North Phoenix, Downtown Phoenix, Mesa, and Scottsdale. It also has locations in Jerome, Flagstaff, and Boulder City and Las Vegas, Nevada.

The establishment is famous for its namesake pasties, a savory hand pie that originates from Cornwall, England. It will also feature a pub that will offer craft and imported beers. The Glendale location is scheduled to open in spring 2024.

“We are excited to be part of the Downtown Glendale community and look forward to sharing our passion for pasties and a good brew with you all,” said Dean Thomas, owner of Cornish Pasty. “Our menu will feature over 40 different pasty creations, all made from scratch along with homemade soups, desserts, salads, and unique appetizers. All set in a non-pretentious British pub atmosphere.”

Downtown Glendale attracts more than 1.6 million yearly visitors with its more than 150 unique and independently owned shops, boutiques, restaurants, and services. The Gaslight Building is centrally located in the heart of Downtown Glendale, adjacent to the $70 million renovation of Glendale City Hall, Murphy Park, and outdoor concert venue.

“Bringing the Cornish Pasty brand to downtown Glendale marks another exciting phase in our community’s growth,” said Daniel Sabillon, Deputy Director over Downtown Redevelopment. “This new addition serves as a catalyst for the continued revitalization of the downtown area, attracting locals and visitors alike.”

Cornish Pasty was represented by Richard Lewis with SVN.

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 Dec 05, 2023

NAIOP Arizona’s 2024 policy agenda takes on major issues including water, air quality, housing

News & Updates

by Peter Madrid | Nov 29, 2023 | News & Updates

PHOENIX, ARIZ. (November 29, 2023) – NAIOP Arizona, the state’s leading commercial real estate association, today released its 2024 public policy agenda with a focus on issues that will determine the region’s ability to continue attracting investment, tenants, and new businesses to our market.

These challenges include water supply, transportation infrastructure, air quality, and housing.

NAIOP is committed to proactively engaging with policymakers on measures and policy decisions that affect business attraction, economic growth, and the broader commercial real estate development industry. NAIOP’s policy agenda aims to find solutions to pressing issues and drive meaningful improvements to Arizona’s policy landscape.

“Arizona is at a pivotal moment. The policy decisions of today will have long-lasting impacts on the state’s future,” said NAIOP Director of Government Relations John Baumer. “Our goal is to ensure the commercial real estate industry and its economic impacts are understood, and our perspectives are incorporated into resulting policy solutions. We aim to be a trusted resource to policymakers at all levels to maintain Arizona’s position as an attractive environment for business and investment.”

Misleading national headlines muddy Arizona’s longstanding track record as a leader in water management and have real repercussions on development and business attraction. NAIOP will collaborate with government entities and stakeholders to ensure continued growth and development while identifying innovative solutions to secure Arizona’s current and future water needs.

NAIOP will also work to ensure members’ expertise is incorporated into proposed water management solutions and reflective of the complexities of commercial development.

In the 2023 legislative session, lawmakers authorized Maricopa County to call for an election to extend the vitally important half-cent sales tax that funds transportation infrastructure. NAIOP Arizona is a proud member of the Connect-Maricopa campaign executive committee and is fully committed to supporting the passage of Prop. 479 in November 2024. Transportation infrastructure is crucial to Arizona’s continued success, and emergence as a Tier 1 city.

With impending federal action on air quality standards, NAIOP Arizona will support policies and initiatives that meaningfully improve air quality without needlessly hampering economic growth. NAIOP will partner with regulators, stakeholders, and the broader business community to identify ways to come into compliance with National Ambient Air Quality Standards (NAAQS) and support efforts to modernize and improve the Clean Air Act.

Addressing Arizona’s housing shortage is a priority for NAIOP. Statewide, employers and residents struggle with low supply in the face of continued migration to Arizona. NAIOP is committed to working with local governments to find innovative solutions that allow for continued multifamily development.

A major challenge to multifamily development is the misconceptions associated with NIMBY-ism and the opposition to higher-density zoning. NAIOP, local governments, and community organizations must work collaboratively to combat these misguided perceptions and advocate for a robust and well-rounded housing supply in Arizona.

“Having John as our first ever, full-time Director of Government Relations enables us to step on the gas at the exact moment when the CRE industry most needs enhanced representation at the state capitol and with local governments,” said Suzanne Kinney, President and CEO of NAIOP Arizona. “The policies enacted over the next one to three years will impact our industry’s trajectory and our market’s competitiveness well into the future.”

NAIOP Arizona looks forward to working collaboratively with legislators, local elected officials, business stakeholders, and community partners to find common ground on these important policy issues and implement creative solutions that make Arizona a great state to work, live, and recreate.

About NAIOP

NAIOP, a 20,000+ member organization in North America provides unparalleled industry networking and education, and advocates for effective legislation on behalf of its members. It is the leading association for developers, owners and related professionals in office, industrial, retail, multifamily and mixed-use real estate. The Arizona Chapter represents over 1,000 members and is among the largest in the 50+ network.

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by Peter Madrid Nov 29, 2023

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