Franchise Dictionary Magazine honors CPR Construction Cleaning Co-Owner, Co-Founder Corina Burton as a 2022 ‘Woman of Wonder’

Franchise Dictionary Magazine honors CPR Construction Cleaning Co-Owner, Co-Founder Corina Burton as a 2022 ‘Woman of Wonder’

News & Updates

by | Oct 23, 2022 | News & Updates

     PHOENIX, ARIZ.  (Oct. 24, 2022) – Corina Burton, Co-Owner and CMO of CPR Construction Cleaning, has been named by Franchise Dictionary Magazine as a 2022 “Woman of Wonder.”

Burton co-founded CPR Construction Cleaning in 2019 and created a brand that has quickly grown to dominate the construction cleaning industry. CPR began franchising in July 2022 and is currently operating 11 franchise units with plans to open in four additional markets by end of 2022.

     “Women are disrupting the franchising space, and it’s thrilling,” said Alesia Visconti, CEO of Franchise Dictionary Magazine. “Implementing culture and understanding the importance of everyone feeling valued, women are able to gain commitment from their teams and implement innovative ideas for success.

“Our ‘50 Women of Wonder’ (WOW) are fran-tastic, talented, strong, and dynamic. The franchise community is better for their leadership and wisdom, and we are honored and excited to celebrate their powerful contributions,” Visconti said.

Phoenix-based CPR Construction Cleaning has franchise locations in Utah, Texas and Arizona, with franchise opportunities in Tucson and Northern Arizona.

Since launching in 2019, CPR Construction Cleaning has experienced tremendous growth the past. Burton co-founded the company with another facility maintenance professional, Patrick Maez. It offers three phases of cleaning: progress/rough cleaning, final cleaning and touch-up cleaning. During the height of the pandemic, CPR Construction Cleaning offered a disinfecting service for COVID-19-related mitigation.

“We created more than a service-based company with CPR Construction Cleaning,
Burton said. “We offer real solutions for the cleaning industry in the construction space. We are true industry partners dedicated to high quality and problem-solving. Our innovation is what sets us apart from the rest.”

Burton said CPR Construction Cleaning partners with general contractor clients “in such a way that we help alleviate additional unexpected expenses because of our expertise and partnership.”

With large projects, there are numerous entities involved in so many phases as well as safety measures that need a dedicated professional crew onsite.

Burton said CPR’s biggest success so far is “having a company that is making a difference in the construction industry. We have had multiple clients provide feedback on how grateful they are in having a specialized cleaning company focused on all of the right aspects of our side of the business.”

“The CPR team is excited to have established the very first specialized construction cleaning company in the franchise space in the US. To be a part of the CPR difference, industry-leading expertise in construction cleaning is now available nationwide,” Burton said.

Proceeds from the October issue will be donated to the Susan G. Komen Breast Cancer Foundation. The Franchise Dictionary Magazine is a national digital publication, with nearly 450,000 readers and targets prospective franchisees in an informative and educational format.

For more information about CPR Construction Cleaning, visit cprclean.com.

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by Oct 23, 2022
Dream come true: Small business loan allows Sedona couple to purchase their own retail space

Dream come true: Small business loan allows Sedona couple to purchase their own retail space

News & Updates

by | Oct 18, 2022 | News & Updates

Local Juicery goes from renting to owning, and eyes future expansion, thanks to a loan from Phoenix-based CDC Small Business Finance.

      PHOENIX, ARIZ. (Oct. 18, 2022) – Michael and Summer Sanders always dreamed of owning a business, not just leasing a commercial property that wasn’t their own.

An SBA 504 loan allowed them to switch from renters to fully owning the business and property, thanks to CDC Small Business Finance. The Sanders, a husband/wife team that owns Local Juicery in Sedona, Arizona, were able to purchase the existing space they have leased since December 2014 with an SBA 504 commercial real estate loan.

The loan provides operations security, employee retention, space for expansion, and control of their commercial real estate needs, Michael Sanders said. He added that future expansion to an outdoor patio space would add value to the asset.

“It feels amazing to be able to use our space as we want and not have a silent partner with whom to make decisions,” Michael Sanders said. “CDC Small Business Finance really helped manage our expectations and worked with us on the timeline and all the details. Their exemplary customer service made the process seamless; working through the application process, working with the lender, working through the funding process, and ultimately ending with a 25-year fixed rate.”

Michael (left) and Summer Sanders, owners of Local Juicery in Sedona.

With loans such as the one facilitated for the Sanders, Phoenix-based CDC Small Business Finance continues to lead economic development in Arizona. It remains the No. 1 lender for the combined number of loans through Q4 of Fiscal Year 2022 (July-September), approving 99 loans totaling $95 million in the Arizona District.

CDC Small Business Finance is part of the Momentus Capital family of organizations, which also includes Capital Impact Partners and Ventures Lending Technologies.

The Sanders’ retail building is located at the intersection of 3150 W. State Route 89A and 20 Dry Creek Road. The property consists of a 7,781 SF retail building with patio seating space. The patio is an essential part of the business operation, with an ambiance that helps attract customers.

Before founding Local Juicery alongside his wife, Michael Sanders was a Navy SEAL officer, honors graduate of the U.S. Naval Academy, and project manager for a national commercial construction firm building luxury retail stores for Tesla, Tory Burch, Zara, West Elm, William Sonoma, and Jenni Kayne.

Summer Sanders has been a chef most of her life. She trained with the famous plant-based chef Matthew Kenney for her initial training. She worked with him to start several restaurants in Los Angeles before moving into her own entrepreneurial endeavors as a private chef for celebrity clients and starting her own restaurants.

“Our goal is to prequalify borrowers before identifying a property or entering a purchase contract. Michael and Summer provided a full financial package, which allowed us to structure the loan and work with their lender on a prequalification prior to negotiations,” said Belinda Rosthenhausler, CDC Small Business Finance’s vice president and commercial lender for Arizona and Nevada.

“The prequalification letter assures the seller of the buyer’s ability to secure financing. SBA financing requirements are extensive and our partnership with lenders allows us to find the perfect fit. Every loan request is specific to the small business,” Rosthenhausler said.

Local Juicery is just one example of how the SBA 504 loan structure continues to be in high demand, despite rising interest rates. The 25-year fixed interest rate option provides a controlled budget for business owners who are seeing lease rates continue to climb.

The Phoenix office comprises Rosthenhausler and Chris Bane, Vice President, Senior Commercial Lender.

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About CDC Small Business Finance

CDC Small Business Finance is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. The nation’s leading mission-based small business lender CDC delivers small business and commercial real estate loans paired with small business owner assistance to bolster entrepreneurship, economic development, and job creation.

CDC offers numerous financing products including the Small Business Administration (SBA) 504 commercial real estate loans; SBA Community Advantage working capital loans; and the SBA Microloan. We also offer non-SBA products to provide more equitable access to credit for those who are unable to qualify for traditional financing. CDC also provides free business advising to support both potential borrowers to get loan-ready as well as to help existing small business borrowers grow and expand their business.

CDC is now part of the Momentus Capital family of organizations, including Capital Impact Partners and Ventures Lending Technologies. Together, we offer a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology services that advance locally-led solutions.

Since 1978, CDC has provided more than $21.3 billion in funding to 12,000 borrowers and helped create and preserve over 214,000 jobs.

Learn more at cdcloans.com and momentuscap.org

 

by Oct 18, 2022
Back to school: NAIOP Arizona kicks off 2nd semester of Junior Achievement of Arizona course  

Back to school: NAIOP Arizona kicks off 2nd semester of Junior Achievement of Arizona course  

News & Updates

by | Oct 13, 2022 | News & Updates

     PHOENIX, ARIZ. (Oct. 13, 2022) – The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, this week kicked off the second semester of partnering 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 five-class program, volunteers from NAIOP Arizona use a curriculum originally designed by industry group REIAC and further refined by NAIOP volunteers to teach 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.

The second semester launched on Oct. 12 and culminates on Nov. 4 with a student competition. The instructor this semester is Kanisha Saunders.

“We are pleased to continue our partnership with Junior Achievement of Arizona to offer a quality curriculum that introduces high school students to the development process and careers in commercial real estate,” said Suzanne Kinney, President and CEO of the Arizona Chapter of NAIOP. “Making sure that young people from all backgrounds have the opportunity to learn about rewarding career paths in real estate is a priority for our association.”

This semester’s volunteers are Jim Mahoney and Brady Maus, Trammell Crow Company; Samantha Pinkal, Greater Phoenix Economic Council (GPEC); Eric Whitehurst, Kimley-Horn; David Kinney, Raintree Capital; Alex Boles and Rodney Bowden, ViaWest Group; Peggy Maxwell, Plaza Companies; and Stirling Pascal, STREAM Realty.

“A critical, and unfortunately, often lacking part of today’s learning experience is the exploration of future career possibilities. At Junior Achievement, we bridge the gap between what students learn in the classroom and what employers need in their future workforce,” said Colleen Cox, Senior Vice President of Education at Junior Achievement of Arizona.

“Partnering with organizations like NAIOP to help students imagine a future in fields that offer high-wage, high-growth opportunities is good for Arizona – for the future employees, industries, and the community as a whole. We are proud to partner with NAIOP and inspire the future generation of Arizona developers,” Cox said.

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. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit naiop.org.

 About Junior Achievement of Arizona

Junior Achievement of Arizona (JA) is a 501© (3) nonprofit organization that equips Arizona students to succeed in work and life by giving them the knowledge and skills they need to manage their money, plan for their future, and make smart academic, career and economic choices. Since 1957, JA has taught kids, kindergarten through high school, about financial literacy, work readiness and entrepreneurship. The organization’s hands-on, age-appropriate programs are delivered by more than 5,000 corporate and community volunteers. Despite educational obstacles during the pandemic, JA reached approximately 100,000 students in the 2021-2022 school year. Follow @JAArizona on social media or visit jaaz.org/resources for more free online educational tools.

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by Oct 13, 2022
CCIM Central Arizona Chapter announces full slate of fall events including breakfast, annual PAR-TEE golf outing, industry partner happy hour

CCIM Central Arizona Chapter announces full slate of fall events including breakfast, annual PAR-TEE golf outing, industry partner happy hour

News & Updates

by | Oct 13, 2022 | News & Updates

     PHOENIX, ARIZ. (Oct. 13, 2022) – The Central Arizona chapter of CCIM, commercial real estate’s global standard for professional achievement, is pleased to announce a full slate of fall events including a designee lunch, its annual golf outing, and a happy hour with two other industry partners.

Here’s what’s on tap:

CCIM Designee Lunch: Is the sky falling, is a recession coming? If so, how deep, how long will it last? Sean McCarthy, Managing Director, Wells Fargo. McCarthy is a senior private wealth portfolio manager with The Private Bank in Wells Fargo’s Wealth & Investment Management division.

He connects advice with investment implementation for clients of The Private Bank. He also provides thought leadership delivering insight and interpretation of the economy and financial markets based on the strategy and research of Wells Fargo Investment Institute.

The event is Oct. 25, from 11:30 a.m. to 1 p.m., at Pitch, 6350 E. Thomas Road, Scottsdale. The event is free to CCIM designee Central Arizona Chapter members; $25 for CCIM designee non-chapter members.

Drafting the NNN Free-Standing Building Lease: Licensees with learn how to properly draft the NNN free-standing building lease whether the property is office, retail, industrial, or restaurant. Necessary Exhibits to the lease will be provided to attendees.

The event is Oct. 28 from 8:30 a.m. to 11:30 a.m., at the Esplanade E-Center, 2501 E. Camelback Road, Suite 50, Phoenix. The event is free to CCIM Central Arizona Chapter members; $35 for non-members and guests.

November Chapter breakfast meeting with Liz Recchia: Join Liz Recchia, Director of Government Affairs, WeSERV Association of Realtors, and a panel as they discuss how commercial real estate professionals are impacted by government policies.

The event is Nov. 2, from 7 a.m. to 9 a.m. at the Esplanade E-Center, 2501 E. Camelback Road, Suite 50, Phoenix. Registration is $40 for CCIM members; $55 for non-members.

PAR-TEE on the Green and 18 Hole Golf Scramble: Join Central Arizona CCIM and Clear Direction Investments at the annual PAR-TEE on the Green & 18 Hole Golf Scramble. There are non-golf-related events after the scramble as well including a BBQ lunch, networking, and a chance to win raffle items.

The golf event is Nov. 10, from 8 a.m. to 4 p.m., at Papago Golf Course, 5595 E. Karsten Way, Phoenix. Registration fees are $1,000 per foursome (golf scramble and PAR-TEE event); $275 per individual (golf scramble and PAR-TEE event); and $125 for the PAR-TEE event.

CCIM/IREM/AZCREW industry mixer: CCIM Central Arizona joins IREM Greater Phoenix and AZCREW for an industry mixer Nov. 15, from 5 p.m. to 7 p.m. at Ocotillo 3243 N. 3rd St., Phoenix.

Click here for more information and to register for these events.

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by Oct 13, 2022
Retail, office transactions in the Southeast Valley highlight deals closed by NAI Horizon brokers

Retail, office transactions in the Southeast Valley highlight deals closed by NAI Horizon brokers

News & Updates

by | Oct 11, 2022 | News & Updates

     PHOENIX, ARIZONA (Oct. 11, 2022) –  Transactions involving a retail building and office space in the Southeast Valley highlight recent deals closed by NAI Horizon professionals. A retail building in Gilbert sold for $2.26 million and office space in Chandler sold for $21,000.

Sale Transactions:

Matt Harper, CCIM, negotiated the sale of a 7,702 SF retail building representing the seller, GGR Holdings, Inc., for $2.26 million. The property is located at 4024 E. Guadalupe Road, Gilbert, AZ. The buyer, Michael P. Glick, was represented by Carrick Sears with SVN.

Joe Pequeno and Troy Giammarco negotiated the sale of 728 SF office space representing the seller, Westhouse Properties, LLC, for $210,000. The property is located at 5505 W. Chandler Blvd., Suite 6, Chandler, AZ. The buyer, Wilbur Management Group, Inc., was represented by Stu Wilbur with Wilbur Management Group, Inc.

Lease Transactions:

Jay Mininberg represented the tenant, Five Point Wealth Advisors, LLC, in a 63-month office lease for 2,248 SF at 8925 E. Pima Center Parkway, Scottsdale, AZ. The landlord, Pima Freeway Commerce Center III, LLC, was represented by Shawn Dooley with Ross Brown.

Thomas Bean, CCIM, and Laurel Lewis represented the landlord, State Bar of Arizona, in a 60-month office lease for 1,780 SF at 4201 N 24th St., Phoenix, AZ. The tenant, Pacific Southwest Minority Supplier Development Council, was represented by Darius Green with Keyser.

Chris Gerow, Shelby Tworek and Gabe Ortega represented the landlord, Queen Creek Fiesta, LLC, & JW Duke Enterprises, LLC, in a 60-month retail lease for 1,300 SF at 44460 W. Edison Road, Maricopa, AZ. The tenant, GNC Holdings, LLC, was represented by Neil Board with Western Retail Advisors.

Don Morrow and Dylan Whitwer represented the tenant, Better Living Wellness, LLC, in a 60-month office lease for 2,432 SF at 7725 N. 43rd Ave., Phoenix, AZ. The landlord, Mesa 7165 East University, LLC, was represented by Samuel Rutledge with CPI.

Joe Pequeno and Troy Giammarco represented the tenant, Downstreem, LLC, in a 65-month office lease for 1,346 SF at 10451 W. Palmeras Drive, Sun City, AZ. The landlord, Bell Plaza Arizona, LLC,/Lineage CRE, was represented by Tyler Smith with Kidder Mathews.

Thomas Bean, CCIM, represented the landlord, Joseph & Esther Arianeh, in a 36- month office lease for 2,806 SF at 10240 W. Bell Road, Sun City, AZ. The tenant, Maxfar, LLC, was self-represented.

Matt Harper, CCIM, represented the landlord, HBR Properties, LLC, in a 37-month retail lease for 1,440 SF at 3825 N. 75th Ave., Phoenix, AZ. The tenant, Vasquez Ramirez Edmundo E, was represented by Marisol Herrera with At Home Real Estate AZ.

Matt Harper, CCIM, represented the landlord, Grand Center Plaza, LLC, in a 48-month retail lease for 2,240 SF at 11001 N. 99th Ave., Peoria, AZ. The tenant, Leroy and Juanelda Grogen, were self-represented. ar

Matt Harper, CCIM, and Thomas Bean, CCIM, represented the landlord, Achuldjan, LLC, in a 36-month office lease for 1,557 SF at 4616 N 51st Ave., Phoenix, AZ. The tenant, Gila Internal Medicine & Geriatrics, P.C. was self-represented.

Matt Harper represented the tenant, KBM Holdings, in a 38-month retail lease for 2,048 SF at 318 E. Brown Road, Mesa, AZ. The landlord, Brown Road Baseline, LLC, was represented by Michael Achtman with Orion.

Thomas Bean, CCIM, represented the landlord, Joseph & Esther Arianeh, in a 24-month office lease for 1,854 SF at 10240 W. Bell Road. The tenant, David Dobrusin CPA, LLC, was self-represented.

Joe Pequeno and Troy Giammarco represented the tenant, New Legacy Treatment Center, LLC, in a 12-month at 3414 N. 27th Ave., Phoenix, AZ. The landlord, Professional Roadside Assistance, LLC, was represented by Tarif Jaber with Jaber.

Matt Harper, CCIM, represented the landlord, Missouri Plaza, LLC, in a 13-month retail lease for 2,000 SF at 4304 W. Missouri Ave., Glendale, AZ. The tenant, RiverRock Staffing, LLC, 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 located in Phoenix and Tucson. NAI Horizon is passionate about the commercial real estate business, providing Brokerage and Property Management Services for local, national and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to more than 300 offices worldwide. For more information visit www.naihorizon.com.

About NAI Global

 Advisory Services, Leasing, Property Management, Property & Note Sales and Tenant Representation

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices in 43 countries strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions and a gross revenue of $1.5 billion.

NAI Global professionals achieve extraordinary results for clients locally and globally through creativity, collaboration and the consistent delivery of exceptional knowledge and service that only market-leading firms can provide. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.

To learn more visit www.naiglobal.com.

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by Oct 11, 2022
Gilbert-based Earthworks Environmental launches ERX Industries on the success of its environmental reporting software program  

Gilbert-based Earthworks Environmental launches ERX Industries on the success of its environmental reporting software program  

News & Updates

by | Oct 10, 2022 | News & Updates

     GILBERT, ARIZ.  (Oct. 11, 2022) – The success of a proprietary program employed by environmental compliance consulting firm Earthworks Environmental has led to the formation of a new company, ERX Industries.

For the past 8 years, Earthworks Environmental has employed ERX, an environmental reporting software program that puts all aspects of environmental compliance into one program. This includes permits, inspections, and maps.

 

Cherie Koester

“ERX is the software program we created to house all of our inspections for our clients; it takes what used to be done on carbon copy paper and creates a more manageable electronic format,” said Cherie Koester, CEO of Earthworks Environmental and sole owner and CEO of ERX Industries.

“The ease of use for both Earthworks’ compliance managers (inspectors) and the client (land developers, superintendents, trades, regulators, etc.) is exponential.  The feedback we have been given by our clients and the regulatory community has been astounding.”

Koester said one of the largest national homebuilders in the U.S. purchased a license for its own use throughout all of its national locations.

“We will be assisting them to get our program into their in-house system and continue to help manage and update the program as well,” she added.

ERX was developed for large-scale national builders based on their feedback of what they wanted and needed, Koester said. It is user-friendly for consultants, builders, and regulators. It is customizable to specific projects, builders, and states. Builders and stormwater experts created it.

Earthworks Environmental currently has approximately 2,400 active users nationally in ERX. It is available as a subscription base or license purchased, Koester said.

     “ERX is a great tool for a variety of reasons. It provides the ability for proposal requests, corrective actions are labeled and numbered, it features a regulator button that allows everyone associated with that site to get notifications, it is customizable according to region and city regulatory requirements, and inspection forms take less time to fill out for inspectors,” Koester said.

ERX also provides a digital rain log that each morning sends inspectors an email telling them where rain inspections are required. It replaces an actual rain gauge on-site. Digital maps and editing allow a project to be viewed remotely via a live map.

Other features include customizable templates for inspection reports, tracking and managing action items noted during an inspection, and an alert and notification system for overdue items.

“With ERX, you can add as many users as needed with ability to manage user access and roles. All documents and data are accessible online from any device. ERX provides secure and reliable records retention, which meet regulatory requirements,” Koester said.

Earthworks Environmental boasts 61 employees nationwide with work performed in 24 markets. It consults on more than 1,500 permits nationally.

Services provided include stormwater pollution prevention, dust control, and construction safety compliances. The firm primarily serves land developers, vertical developers, commercial construction, and land-holding companies.

To learn more about Earthworks Environmental visit earthworksenv.com.

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by Oct 10, 2022
Arizona’s multifamily industry remains positive despite some headwinds, AMA Perspectives & Projections panelists share at annual event

Arizona’s multifamily industry remains positive despite some headwinds, AMA Perspectives & Projections panelists share at annual event

News & Updates

by | Oct 6, 2022 | News & Updates

PHOENIX, ARIZ. (Oct. 6, 2022) – Arizona’s multifamily industry has been one of the most robust for the past few years, even during the pandemic.

While there is still plenty of runway as 2023 nears, there are some headwinds that could slow down the momentum. They include a lack of housing supply and a lack of affordable housing.

“You can’t go a day without hearing about the housing supply and the lack of it,” said Jake Hinman, government affairs consultant for the Arizona Multihousing Association and moderator for a panel at the AMA’s recent 2022 Perspectives & Projections event at the Sheraton Downtown Phoenix.

The panel discussed the Housing Supply Study Committee, which was formed to review data on the scope of housing supply and access and to compile an overview of ways to address Arizona’s housing shortage and mitigate its causes. Hinman is on the committee.

“Maricopa County is the fastest growing in the county. Everyone wants to come here,” said panelist and Tempe Mayor Corey Woods. “The challenge is that some people want to grow by only building single-family homes. In Tempe, for instance, we can’t build out. We have to build up. All our communities need to contribute to building housing for our future workforce.”

Panelist Cindy Navarrete Stotler, Deputy Director of the Arizona Department of Housing, said there needs to be a change in the conversation.

“Let’s make density cool again. We need to bring that back,” she said.

Arizona’s multifamily industry has been in the news a lot lately, from the number of apartment units needed to satisfy a growing population in Arizona to the eviction moratorium and subsequent issues the pandemic presented two years ago.

“The climate in Arizona is very difficult to navigate,” said David Leibowitz of public relations firm Leibowitz Solo, whose panel examined the shifting narrative in the media when it comes to the apartment industry. “We have worked with media the past years on the eviction issue and housing shortage. What has changed? The pandemic changed. The topic of evictions was only related to the moratorium. Now we’ve added another topic, the housing supply crisis.”

Other speakers included Mark Paratore, Vice President of Business Development for the Greater Phoenix Economic Council (GPEC), who told attendees that 2021 was a record breaker in the Valley with 10,859 new jobs. That translated into 55 new businesses, $635 million in payroll 214 domestic prospects, and 58 international prospects.

“Arizona has an increase in earnings thanks in part to high-growth innovation jobs,” he said. “Aerospace, manufacturing, and healthcare continue to lead the way.”

On the topic of national housing, affordability continues to be an issue, said Kimberly Bynum, Senior Vice President-Advisory at Meyers Research. Rent increases are making affordability more difficult. And now occupancies are coming down.

“Where is the pipeline now?” she asked. “We get kind of nervous. But we’re data people.”

Bynum’s things to watch: operating expenses, renewals, stabilized concessions, and lease-up concessions.

Jay Lybik, National Director of Multifamily Analytics at CoStar, said the Arizona housing outlook is a tale of two markets, and the change is not just happening in Phoenix. Sunbelt markets are feeling some pain as well. Record supply is beginning to overtake Phoenix rental demand.

“We are seeing some moderation,” Lybik said. “Last year was a fantastic year, with record absorption and a 5.8 vacancy percentage. There will be some issues this year, likely a reverse of 12 months ago. It has to do mainly with questions about the economy.”

Trends in Tucson show strong rent growth because of the demographic and people moving there. Tucson, Lybik said, recovered jobs after the pandemic much faster than the rest of the state. Construction activity is brisk along the I-10 freeway and around the University of Arizona. The rent growth in Flagstaff, he added, is more balanced.

About Arizona Multihousing Association:

The Arizona Multihousing Association is the statewide trade association for the apartment industry, representing more than 2,300 members in legislative, legal and regulatory matters. The mission of the Arizona Multihousing Association is to unite multifamily housing leaders in one trusted voice for Arizona’s rental community. For more information, visit azmultihousing.org.

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by Oct 06, 2022
BOMA Greater Phoenix invites all Valley building owners to take part in ‘Light to Unite,’ in honor of the 240th anniversary of the Purple Heart Award

BOMA Greater Phoenix invites all Valley building owners to take part in ‘Light to Unite,’ in honor of the 240th anniversary of the Purple Heart Award

News & Updates

by | Oct 4, 2022 | News & Updates

     PHOENIX, ARIZ. (Oct. 5, 2022) — BOMA Greater Phoenix is inviting all Valley commercial building owners to take part on Veterans Day, Nov. 11, in the national “Light to Unite” event, a commemoration and celebration of the 240th anniversary of the U.S. Purple Heart Award.

The National Flag Foundation and the Military Order of the Purple Heart are partnering on the event and have the support of BOMA International and BOMA councils throughout the nation. This includes BOMA Greater Phoenix, the industry group that advances the commercial real estate industry through advocacy, influence, and knowledge.

The goal of “Light to Unite” is to have all major cities in America light up purple and/or red, white, and blue.

“We have some commitments for some buildings from Ryan Companies, and Transwestern, and look forward to bringing more onboard for this celebration,” said BOMA Greater Phoenix Executive Director Farrell Quinlan. “This is a patriotic way for the many commercial building owners in Metro Phoenix to show their support.”

NFF officials said they already have a commitment from One World Trade Center in New York City to light their building purple immediately following the lighting of Pittsburgh’s Koppers Tower. The Koppers Tower will be the first to light as it is the home of the NFF. All other participating buildings will light based on their time zone.

NFF is asking for BOMA-local participation helping it to secure commitments from as many American cities as possible. In addition to “Light to Unite,” event organizers have partnered with the NFL this year to create a video, “A National Flag Foundation Moment,” narrated by Jim Nantz which NFL teams will be asked to air during the NFL’s “Salute to Service” games in November.

The event has also received official support from the Marine Corps League and another commercial real estate industry group, the Society of Industrial and Office Realtors (SIOR).

Contact BOMA Greater Phoenix at admin@bomaphoenix.net if your property is interested in taking part in “Light to Unite.”

Koppers Tower in Pittsburgh.

About BOMA

The Building Owners and Managers Association (BOMA) International is a federation of 93 BOMA U.S. associations, BOMA Canada and its 11 regional associations and 13 BOMA international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including nearly 10 billion square feet of U.S. office space that supports 3.7 million jobs and contributes $205 billion to the U.S. GDP. Its mission is to advance the interests of the entire commercial real estate industry through advocacy, education, research, standards and information. BOMA Greater Phoenix has been federated with BOMA International since 1940. Find BOMA International online at www.boma.org

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by Oct 04, 2022
AAED grows with hiring of Member Engagement and Development Manager, promotes staff member to Operations and Events Manager

AAED grows with hiring of Member Engagement and Development Manager, promotes staff member to Operations and Events Manager

News & Updates

by | Oct 4, 2022 | News & Updates

     PHOENIX, ARIZ. (Oct. 4, 2022) — The Arizona Association for Economic Development (AAED) expanded its Phoenix office with a new hire and promoted a current staff member, according to Executive Director Carrie Kelly.

Braxton Hynes joins AAED as its Member Engagement and Development Manager. Prior to joining AAED, Hynes served as Rural Community & Economic Development Program Manager with Local First Arizona and Manager of Customer Success with Yelp.

She holds a B.A. in justice studies from the Barrett Honors College at Arizona State University.

“Braxton is passionate about Arizona’s businesses and economic resiliency,” Kelly said. “Drawing from her experience in small business education, business development, and statewide tourism, she is excited to further AAED’s mission to advocate responsible economic development throughout the state.”

Juliana Jervis has been promoted to Operations and Events Manager. Jervis joined AAED as an office assistant in August 2019. Prior to joining AAED, she worked at America’s Public Television Stations (APTS) as events and staff assistant. At APTS, she helped with registrations and sponsorships for its annual event, in addition to membership recruitment and management.

Jervis holds a B.S. in sports management with minors in business administration and event planning from West Virginia University.

“Juliana has been integral in implementing positive changes at AAED,” Kelly said.  “She has been assisting with marketing and outreach, organizing our events and conferences, and keeping our association on track.”

About AAED

The Arizona Association for Economic Development (AAED) was founded in 1974 with a mission to serve as Arizona’s unified voice for responsible economic development through professional education, public policy, and collaboration.  For more information on AAED, visit http://www.aaed.com or call (602) 240-2233.

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by Oct 04, 2022
Phoenix West Commercial celebrates 10 years of a family firm collaborating in the West Valley

Phoenix West Commercial celebrates 10 years of a family firm collaborating in the West Valley

News & Updates

by | Sep 28, 2022 | News & Updates

      GOODYEAR, ARIZONA (Sept. 28, 2022) – Just as the West Valley has experienced growth with a keen eye toward the future, so has Phoenix West Commercial, a family-run, full-service real estate brokerage firm celebrating its 10th anniversary.

Leading the firm is Principal and Designated Broker Bobbie Lorraine Mastracci, CCIM, SIOR. Prior to founding Phoenix West Commercial in 2012, she established her reputation in the West Valley as well as nationally with the prestigious CCIM Institute, SIOR, the West Valley Commercial Real Estate Group (which she co-founded) and Don Bennett & Associates, where she began her career.

    Since 2006, Mastracci has completed lease and sale transactions with clients in Arizona, across the U.S., Canada, and internationally exceeding $200 million in value and more than 17 million SF of land and improved properties. She added that approximately 93 percent of her business is repeat and referrals.

“What makes me proud looking back at the past 10 years is the company’s integrity and how we have enhanced the community,” Mastracci said. “The company culture is genuinely working for the client, not for our paycheck. When the pandemic hit, we contacted clients and business owners to see how they were doing. Did they need help with the PPP loan process or getting in touch with a financial institution that would help them. If you take care of your people and your clients come first, it circles back to you in a huge way.”

After longtime Valley real estate veteran Don Bennett passed away, Mastracci pursued other brokerage opportunities then founded Phoenix West Commercial. It is now a family business with sons ELi Mastracci, CCIM, Principal/Senior Associate, and Giuseppe Mastracci, Marketing Director; and husband and father Joey Mastracci, who handles the company’s finances.

“I interviewed with other brokerage firms but they didn’t offer what I wanted,” Bobbie Mastracci recalled. “So, I started my own company. It was very exciting. Challenging, but very exciting.”

With a focus on the West Valley, the Phoenix West Commercial office grew to about 13 brokers by 2017. The firm expanded its services to Metro Phoenix, Yuma, Flagstaff and Casa Grande.

ELi Mastracci joined the company in 2018 as an unlicensed assistant and marketing director. He began taking real estate classes at 18, working under the tutelage of his mother. He earned the prestigious Certified Commercial Investment Member (CCIM) designation at 20, the youngest to be pinned to date.

“Working in a family business and working with mom has been a great learning experience,” ELi Mastracci said. “There is a comfort and familiarity you’ve known all your life. But I’m still expected to pull my own weight. She has helped me with difficult deals and has helped me work through problems. I don’t get special treatment.”

Giuseppe Mastracci joins the team next year as an agent. He currently handles Phoenix West Commercial marketing efforts.

“Looking ahead to the next 10 years, I see my boys running the brokerage and expanding it,” Bobbie Mastracci said. “We would like to take brokerage to the next level. We would like to also expand our commercial real estate portfolio and buy additional commercial real estate to build our wealth that way.”

Added ELi Mastracci: “The goal is not just to be a broker, but to be a principal. Being a landlord lets us experience the other side of the coin. It is your money at risk now.”

While Phoenix West Commercial will always be a home for West Valley brokerage and brokers, ELi Mastracci said he would like to see the company also have an East Valley footprint.

“Our strategy from the start was to concentrate on the West Valley,” Bobbie Mastracci said. “There was a time when no one would come out to the West Valley to make a deal. Now, everyone is coming here so we are running out of inventory. The adage ‘Go West, Young Man’ holds true.”

 About Phoenix Commercial West

Phoenix West Commercial, LLC is a commercial real estate brokerage located in Goodyear, Arizona. We have access to local, national, international deals, clients and properties. Phoenix West Commercial agents have true respect and encourage the communities’ evolution. Since 2012, our team has produced highly successful transactions. We serve and provide professional, commercial real estate services throughout Arizona and the U.S. We’ve helped customers in various industries and scenarios from banking, retail, medical, industrial, government, and land sales for developers, investors, landlords and tenants. For more information visit phxwc.com.

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by Sep 28, 2022