Author Archives: AZRE

AZRE

About AZRE

Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.

Hamilton Distillers leased 8KSF at 2106 N. Forbes, Suite 103 in Tucson.

Cushman & Wakefield | PICOR Releases Recent Transaction List

Cushman & Wakefield | PICOR has released the following recent transaction list:

Cricket Wireless leased 810 square feet at 3921 E. 29th Street, Suite 308 in Tucson from Presson Midpoint, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR represented the landlord and Dave Dutson with CBRE represented the tenant in this transaction.

Balanced Spirit Pilates Studio, LLC leased 1,200 square feet in the Mission Plaza Shopping Center at 4619 E. Speedway (NWC Speedway/Swan) in Tucson from Brazo, LLC.  Aaron LaPrise and Greg Furrier, Retail Specialists with Cushman & Wakefield | PICOR, represented the landlord and Jeff Zellet, Commercial Specialist with Cushman & Wakefield | PICOR represented the tenant in this transaction.

Pink Cloud Alterations leased 1,200 square feet in Winterhaven Square on the southeast corner of Fort Lowell & Country Club in Tucson from Glover Associates.  Greg Furrier, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord.

Cricket Wireless leased 1,200 square feet in Winterhaven Square on the southeast corner of Fort Lowell & Country Club in Tucson from Glover Associates.  Greg Furrier, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord. Dave Dutson with CBRE represented the tenant in this transaction.

Janitorial Maintenance and Supply leased 1,500 square feet at 3790 E. 44th Street, #222 in Tucson, Arizona from Rich Rodgers Investments, Inc.  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Rogelio Godinez leased 1,725 square feet at 2341 S. Friebus Avenue, Suite 19 in Tucson from Oak Properties.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Aaron Ochoa with HomeSmart represented the tenant in this transaction.

The Specialists Audio leased 3,000 square feet at 5602 E. Broadway in Tucson from Broadway-Craycroft, LLC.  Greg Furrier, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Hamilton Distillers leased 8,000 square feet at 2106 N. Forbes, Suite 103 in Tucson from MRI Saddlehorn Investments II, LLC.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Kristy Kelley with Long Realty Company represented the tenant in this transaction.

Fry's 86

Fry’s Store #86 at Sundome Crossing

Fry’s Grocery Store is taking the place of the historic Sundome. The design of the store will have wrought iron inserts on the sides of the building that were salvaged from the demolition of the Sundome. A fuel station and new retail shops building will also be housed on this 16-acre site.

Developer: Brown Grace 6 Investments, LLC and Smith’s Food & Drug Centers, Inc.
General Contractor: Chasse Building Team
Architect: Perkowitz + Ruth Architects
Location: 19403 N. R.H. Johnson Blvd., Sun City West
Size: 109,222 SF
Brokerage Firm: Land & Fry’s Grocery: Empire Commercial;
Retail: Phoenix Commercial Advisors
Value: $9M
Start/Completion: 4Q 2014
Subcontractors: Rikoshea, Redpoint, G&G Masonry, L R Cowan, Sun Valley Masonry, Universal Piping and CPR Electric.

Rio Salado, Liberty Property Trust, WEB

Liberty Property Trust Signs First Tenant at Liberty Center at Rio Salado

Liberty Property Trust has signed a lease with WageWorks Inc. for 76,162 square feet, marking the first tenant agreement to be signed for the company’s Class A office development, Liberty Center at Rio Salado business park in Tempe. Located at 1850 W. Rio Salado Parkway, Building One is a two-story 155,000 square foot development that is designed to achieve LEED® Silver certification, and is slated to come online in October 2014.

“The level of tenant demand for this project is high,” said John DiVall, senior vice president at Liberty Property Trust. “WageWorks is well suited for our new mixed-use business park and its employees will enjoy the contemporary amenities and the live-work-play environment that the park will offer. We look forward to celebrating the opening of their office in Building One later this year.”

“Tempe has been a critical hub for WageWorks and we are excited about expanding our local footprint and moving into the Liberty Center.  As our company continues to grow, this facility will become the new home of the WageWorks Service Center, designed to deliver outstanding service to our employer clients and their participants, and help us recruit and retain happy, healthy and productive employees,” said Joe Jackson, CEO of WageWorks.

WageWorks has leased the entire first floor of Building One, and the second floor comprised of approximately 77,000 square feet is available for lease. Building One is a part of Phase I, which when complete will include seven offices and one industrial building. Phase II, which will be located across Priest Road, is slated to include a hotel, retail and additional office buildings. In total the park will offer more than one million square feet of office, industrial, flex and retail space.

Tim Glenn, Jason Moore, Keith Lammersen and Jim Sadler with JLL represented WageWorks and Megan Creecy-Herman represented Liberty in the transaction.

CarverDistribution, WEB

Pet Club Leases 45,228 SF at Carver Distribution Center in Tempe

Cassidy Turley announced that it completed a lease of 45,228 SF for Mesa, Ariz.-based Pet Club at Carver Distribution Center, 860 W. Carver Rd. in Tempe, Ariz.

Executive Managing Directors Michael Haenel and Andy Markham with Vice President Will Strong of Cassidy Turley’s Industrial Group represented both the landlord, Des Moines, IA-based Principal Life Insurance Company, and Pet Club in the transaction.

Since 1982, Pet Club has been supplying Arizona residents with a variety of premium pet products at a discount price. The Pet Club is locally owned and operated in Arizona & Colorado. Pet club is a Certified Purina Feed Expert dealer and plans to use the newly leased space as a warehouse to support 42 retail locations.

Built in 1998, Carver Distribution Center is a ±272,460 SF, two building Class-A industrial project in Tempe. The property is centrally located in the Tempe/Sky Harbor Industrial Corridor and near two full-diamond Interstate 10 Freeway interchanges at Elliot Road and Warner Road. The Pet Club transaction brings Carver Distribution Center to 100% occupancy.

Envy Condominiums rendering, WEB

HFF arranges $14M in joint venture equity for Scottsdale condo project

HFF announced today that it has arranged $14M in joint venture equity for the development of Envy, a 90-home, mid-rise condominium project in downtown Scottsdale’s Entertainment District.

HFF worked on behalf of the borrower, Deco Communities, to secure joint venture equity from an alternative investment manager.

Envy will be situated on a one-acre site at 4422 North 75th Street near the intersection of Camelback and Scottsdale Roads.  Slated for completion in the second half of 2015, the 90 for-sale residences will feature a variety of one- and two-bedroom floorplans.  The eight-story property will include amenities such as a 4,500-square-foot, state-of-the-art fitness center with lounge and juice bar, mezzanine lounging area, underground parking, negative-edge rooftop pool and spa, bicycle storage, electric car charging stations and concierge service.

The HFF team was led by associate director Bryan Clark.

24490N20thDrive, Cassidy Turley, WEB

Scottsdale Investor Purchases Universal Exchange Building for $1.38M

Cassidy Turley announced that locally-based Douradas Investments, LP acquired the Universal Exchange Building, 24490 N. 20th Dr., for $1.38M ($105 PSF). The seller was Pallanick Family, LLC a company formed by Universal Exchange.

John Pompay Vice President of Cassidy Turley’s Industrial Group represented the seller, while Shelly O’Keefe with Biltmore Lifestyles Real Estate Company represented the buyer.

Built in 2007, the Universal Exchange Building is a ±13,181 SF industrial warehouse on .83 acres and is configured for a single-tenant. The property is located at 19th Avenue and Alameda Road in the Alameda Business Park, a 155,080 SF warehouse/office project with 11 buildings on 10.7 acres. The property featured several upgrades including an insulated roof deck in the warehouse, motion activated T-5 lighting and video security system. At the time of sale, the building was occupied by Universal Exchange, a full service facilities management company.

PalmGlen, Cassidy Turley, WEB

California investor purchases Palm Glen Shopping Center for $14.35M

Cassidy Turley announced that Los Angeles-based Primestor Development acquired Palm Glen Shopping Center, 3500-3636 W. Glendale Ave., for $14.35M ($81.67 PSF). The seller was Phoenix-based Palm Glen Investors, LLC. Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group represented the seller, while Alexis Suarez with Arizona Partners represented the buyer.

“Primestor recognizes great value in the underlying real estate of the Palm Glen Shopping Center,” Mr. Hackett said. “In-fill grocery anchored centers with upside potential are hard to come by in the Phoenix market.”

Built in 1961 and renovated in 1990, Palm Glen Shopping Center is a ±175,686 square foot community center situated on 16.12 acres and configured for multi-tenant retail use. The project is anchored by a Food City grocery store and other national tenants including Wells Fargo, Dollar Tree, Aaron Rents, Little Caesar’s Pizza and Title Max. The property has excellent visibility along both Glendale Avenue and 35th Avenue in Phoenix. Palm Glen Shopping Center was 86.2% occupied at the time of sale.

Hines Promotions, WEB

Hines promotes, hires eight employees

Hines announces the hire of four employees and the promotion of four employees who have decades of experience in development, property management and construction, building a robust and strategic Phoenix team.

“We’re cultivating a talented team to reflect Hines’ strong commitment and further investment in the Phoenix marketplace,” said Chris Anderson, Managing Director of Hines. “With the addition of new top market leaders and the promotion of experienced employees, Hines will expand its depth in Arizona projects.”

New Hires:

Brandon Dillingham serves as the Director of Arizona Development for Hines. Dillingham conducts analyses and executes acquisitions and development projects in the Southwest. He previously served as the Development Manager at Macerich. He brings experience in project management and on-time delivery of more than 2.6 million square feet of high-quality projects.

As Property Manager of Renaissance Square, Steve Hamel oversees the 1 million-square-foot twin tower in downtown Phoenix. He previously worked at Cole Real Estate as the Regional Property Manager. He brings 12 years of industry experience and previously oversaw a portfolio of 7 million square feet of retail and office space throughout the Southwest.

Scott King, who previously served as the President at BDT Construction, is Hines’ new Construction Manager. King oversees new ground-up structures, infill renovations and tenant improvements from conceptual estimating and design to project completion. King brings experience in project management and on-time delivery of more than 2.7 million square feet of profitable and high-quality construction projects.

Carol Kleinberg is General Property Manager at Renaissance Square and the Designated Broker for Hines GS Properties. Kleinberg manages a staff of 10 and collaborates with the City of Phoenix, Downtown Phoenix Partnership and GPEC to elevate Renaissance Square’s position. She previously served as the Director of Strategic Alliances at the Plaza Companies. Kleinberg has 25 years of experience in the Phoenix commercial real estate industry, specializing in the operation, management and rebranding of properties. During her career, she has managed more than 3.5 million square feet of office, medical office, retail and industrial properties and provided a key role in the development of 700,000 square feet of office and industrial properties.

Promotions:

Hines promoted Michelle Brown from Assistant Property Manager to Property Manager for 24th at Camelback I & II and Kierland One. She has seven years of experience in commercial real estate. Brown previously oversaw property management operations for 14 tenant improvement projects in a 24-month period, totaling more than 1 million square feet and $20 million.

Darwyn Harp now serves as the Designated Broker for Hines. He previously served as Hines’ General Property Manager & Facility Manager at US Airways and Property Manager at Papago Spectrum. Since joining Hines in 1996, Harp has contributed to the property management of more than 4 million square feet of commercial real estate. He has extensive experience in financial reporting, training and managing personnel as well as the leasing and construction management of occupied and unoccupied space.

Theresa Holder is now the Assistant Property Manager at 24th at Camelback I & II. She is an integral member of the Phoenix NAIOP Chapter and has been heavily involved in the local real estate community for many years.

Martin Ortiz is now an Assistant Engineering Manager at Renaissance Square. He previously served at 24th at Camelback I & II. Ortiz oversaw nearly 300,000 square feet of tenant improvement construction at Camelback II and was a key team member in helping the property achieve LEED EB Platinum certification.

Farina,Patti, WEB

Cushman & Wakefield Promotes Patti Farina to Director

Patti Farina has been promoted to Director at Cushman & Wakefield of Arizona, Inc.

Farina, who joined Cushman & Wakefield in 2011 as Senior Portfolio Manager in the Property Management Division, will oversee the management of the office’s industrial property portfolio, said Greg Valladao, Market Leader of C&W of Arizona.

“We are pleased that Patti has accepted an expanded role in our organization.” Valladao said. “Her knowledge and experience with industrial property/asset management is unsurpassed in the industry.”

During her tenure at C&W, Farina has played an integral role in growing Arizona’s industrial property management portfolio to 13 million square feet. In her new role, which begins immediately, she will be working closely with Victoria Knudson, national lead of C&W’s Industrial Property Management portfolio.

“This is a tremendous opportunity and I couldn’t be more excited for Cushman & Wakefield and the industrial team,” said Farina, who has more than 18 years experience in the commercial real estate industry working with institutional and non-institutional clients primarily in industrial. “The passion within C&W to grow our industrial portfolio is amazing.”

Prior to joining Cushman & Wakefield, Farina was Senior Real Estate Manager at CBRE, overseeing its industrial portfolio. She held a similar position at The Trammell Crow Company.

Key assignments include the Clarion Partners industrial portfolio, the Industrial Income Trust portfolio, and the Cabot Properties portfolio.

Farina has an Arizona Real Estate License, Real Property Administrator (RPA) and LEED AP designations and is a member of the Building Owners and Managers Association (BOMA) Greater Phoenix chapter.

Sean Lynch and Rich Keil.

Sundt Construction Expands Tempe Team

Sundt Construction, Inc., has promoted construction industry veteran Sean Lynch to operations manager for concrete construction. Lynch has more than 30 years of experience in the industry, 27 of which have been focused on commercial concrete construction.
Lynch’s primary responsibilities in his new role are to continue to strengthen Sundt’s concrete construction team, ensure the performance of safe, high-quality work, and assist with the company’s profitable growth.
Lynch joined Sundt in April 2013 as senior project manager, and since then has been instrumental in the successful execution of several projects. Prior to joining Sundt, he spent eight years managing projects in the U.S. and Canada. His most recent project before coming to Sundt was a $200 million modernization project for Rio Tinto in Kitimat, British Columbia.

Sundt Construction, Inc., also announced Rich Keil has joined as the company’s new head of mining and industrial construction. Keil has 24 years of experience in heavy industrial projects in multiple sectors including power, forest industries, mining, and chemical processes, as well as several emerging technologies such as gasification, gas-to-liquids and algae fuels.

“I came to Sundt because of the long history and strong reputation Sundt has in the industry, along with the benefits of the employee-ownership culture, which I believe is a tremendous strength and differentiator,” Keil said. “Employees who own their company have a strong commitment to excellent work and success, which benefits both them and their clients.”

Originally from the Northeast, Keil earned a degree in construction management from Syracuse University and then spent the next 24 years working in various capacities for major contractors throughout the South and Mid-Atlantic region, most recently as director of projects. Keil has had project oversight and client relation duties as well as profit and loss responsibilities on projects valued at up to $650 million. He has also been responsible for strategic account management for accounts in excess of $3 billion.

Fratianni, WEB

Hunt Construction Group announces change in leadership

Hunt Construction Group’s Chairman Robert G. Hunt announced Monday that Michael Fratianni has assumed the role of President and Chief Executive Officer for Hunt Construction Group, Inc.  Fratianni is a 28-year veteran of Hunt having worked his way through the ranks of the organization.

In his new position, Fratianni will focus on strategy and vision, budget and revenue, growth and team building as well as marketing and market strategy. Fratianni looks forward to his new role and stated, “Hunt is committed to collaboratively and innovatively delivering exceptional services nationwide that consistently exceed our client’s dreams and expectations – One Hunt – One purpose.”

Hunt has appointed William S. Hornbake as Executive Vice President and Chief Operating

Hornbacke

Hornbacke

Officer. Hornbake is a 29-year veteran of the industry with a Bachelor of Arts in Architectural Studies from the University of Pittsburgh. Hornbake will work closely with division managers and group leaders to ensure Hunt is employing optimal operational procedures to continue delivering an unmatched level of quality and service to our clients.

Hunt Construction Group is celebrating 70 years of construction excellence and is ranked by Engineering News-Record as one of the nation’s top commercial construction management/general contracting firms. Through the years, the company has been known for on-time, on-budget delivery of landmark facilities. Some exciting projects underway include the Atlanta Falcons Stadium in Atlanta, GA, Denver Airport South Terminal Redevelopment in Denver, Colo., Mayo Clinic Proton Therapy Facility in Phoenix and JW Marriott Austin in Austin, Texas.

Beau, Sperry, WEB

Beau Flahart Joins Sperry Van Ness

Sperry Van Ness, LLC announced the addition of Beau Flahart as an associate advisor on the leasing and sale of retail properties. Flahart has teamed with seasoned veterans Rommie Mojahed and Mary Ridberg, directors of leasing. The team focuses on multiple areas of commercial real estate including retail leasing and investment sales. Mojahed and Ridberg represent notable tenants such as Firehouse Subs, Dairy Queen, Blue 32 and Potato Barn.

Before real estate, Flahart helped develop and grow Flahart Brothers Companies Inc. (FBC), a small building automations company. He began his career in real estate as a residential agent assisting clients with the acquisitions and dispositions of investment homes.

Flahart attended Mesa Community College and Chandler Gilbert Community College before attending Arizona School of Real Estate and Business to obtain his Arizona real estate salesperson license in 2013. He is an active member of SEVRAR.

Bill Petsas, WEB

EastGroup Properties’ Bill Petsas Receives NAIOP Award

Bill Petsas, senior vice president at EastGroup Properties, received the Lifetime Achievement Award at the 2014 Best of NAIOP event held at the Arizona Biltmore.

Prior to joining EastGroup in 2000, Petsas was a VP with Prologis where he forged a career in the development, acquisition, leasing and management of industrial real estate. At EastGroup, Petsas oversees 34MSF of industrial space with a total market capitalization in excess of $2.8B.
The Lifetime Achievement Award is presented by the Arizona Chapter Board of Directors to an exemplary individual who has made a significant and positive impact on the office and industrial commercial real estate market in Arizona over a period of no less than 15 years.

It was also a big night for Ryan Companies US, Inc. and Marina Heights – Ryan’s $750M, 2MSF development in Tempe.  Marina Heights won the prestigious Transaction of the Year and Talk of the Town awards.  Ryan Companies was named Owner/Developer of the Year, Firm of the Year, and General Contractor of the Year. Ryan is the owner/co-developer and general contractor for Marina Heights. Sunbelt Holdings is the other co-developer and The DAVIS Experience is the project architect.

Winning top broker awards were Jim Wilson, Cushman & Wakefield of Arizona, Industrial Broker of the Year; Tom Adelson, Jim Fijan, Jerry Roberts and Corey Hawley, CBRE, Office Brokers of the Year; and Mindy Korth, Colliers International, Investment Broker of the Year.

Economic Impact Project of the Year went to Able Engineering – Phoenix-Mesa Gateway Airport. JLL was named Brokerage House of the Year.

The event, organized by NAIOP Arizona, was attended by 900 commercial real estate professionals.

Camelback Arboleda

JLL Completes $24.9M Sale of Camelback Arboleda

Capital Markets experts in the Phoenix office of JLL have completed the $24.9M sale of Camelback Arboleda, a 178,792 SF, multi-tenant office building located at 16th Street and Camelback Road, in the heart of Phoenix’s prestigious Camelback Corridor.

JLL Senior Managing Director Dennis Desmond and JLL Senior Vice President Brian Ackerman represented the property seller, Camelback 1661, LLC. The property buyer is Merced Restart Phoenix Investors I, LLC.
This is the second time in two years that JLL has brokered a Camelback Arboleda sale—an indication, JLL says, of the market’s ability to deliver upside potential for strategic buyers.

“Investor interest in the Phoenix office market has increased dramatically since 2011-2012,” said Desmond. “Our client recognized the opportunity in this trend, and significantly improved the appearance of Camelback Arboleda and the quality of its rent roll to take advantage of improved investor appetite.”

“The property also has attracted an increasing amount of medical tenants seeking a quality location in a tightening market, creating another stabilizing factor in the positioning of this asset,” added Ackerman.
Camelback Arboleda’s leasing team, Chris Latvaaho and Michael Crystal of Cushman & Wakefield, assisted with the transaction and will retain the leasing assignment for the new owner.

According to JLL’s Q1 2014 Phoenix Office Report, rental rates in the Camelback Corridor submarket have grown significantly in the past two years, from an average $23.77 per square foot in early 2012 to an average $25.12 per square foot today. “The new Camelback Arboleda building owners believe these rental rates will continue to grow, as do we,” said Desmond.

1410W10th, WEB

Banner Health Relocates Howard S. Gray School to Tempe

Cassidy Turley announced that it represented building owner Quach, LLC, in its lease of 15,215 SF to an affiliate of Phoenix-based Banner Health, an Arizona non-profit corporation, at 1410 W. 10th Pl. in Tempe, Ariz.
Marc Tuite, Scott Baumgarten, Josh Wyss and Bruce Calfee with Cassidy Turley represented Tempe-based Quach, LLC, while Vicki Robinson of JLL represented Banner Health’s Howard S. Gray School.
“The relocation of Banner Health’s Howard S. Gray School is a great tenant for the building, previously renovated for educational use” said Mr. Baumgarten. “The school will have a positive impact on the community of Tempe as well.”

The Howard S. Gray School is a nationally accredited private school that offers a smaller class size, experienced faculty and individualized curriculum to help students with emotional or learning challenges reach their academic potential.

Built in 1979, the former Collins College School is a 15,215 square foot office building on 1.02 acres. The project had an office/classroom build-out and is centrally located in the east valley with access to Interstate 10, the Loop 202 Freeway, U.S. Highway 60, State Route 143, the new Loop 202 Freeway and Sky Harbor International Airport. The property is currently 100% leased.

Friendship House, WEB

Sundt Construction breaks ground on Friendship House at Royal Oaks

Sundt Construction has broken ground on the Friendship House at Royal Oaks Lifecare Retirement Community in Sun City, Ariz. The $13.6M project is a two-story memory care facility designed to provide lifestyle-focused accommodations for Royal Oaks residents with varying levels of cognitive needs. This is Sundt’s sixth project for Royal Oaks, speaking to the longstanding relationship between the senior-living community and the contractor.

The 53KSF facility, located near the center of the 38-acre community, will provide memory care in a residential setting, moving away from the skilled-care model that has been the norm at Royal Oaks and many other retirement communities. This new design concept allows for more efficient staffing and flexibility in a comfortable setting that stresses the individualized needs of residents. Personalization is achieved through four “neighborhoods” of fourteen residents each that have distinct interior design themes and create smaller scale living environments.

Since 2000, Sundt has been the general contractor for numerous projects on the Royal Oaks campus, including the construction of new garden homes, an assisted living and life enrichment center, dining and wellness venues and a two-level parking structure. Sundt also renovated the Health Care Center.

“We have a strong 12-year relationship with the Royal Oaks team and enjoy working with them on these new projects to enhance the lifestyle experiences for the community’s residents,” said Sundt Project Director Kurt Wadlington. “This facility, with its new design, will help Royal Oaks continue their commitment to deliver the best care possible for its residents with memory care needs.”

The architect for Friendship House is Todd & Associates with interior design services by Thoma-Holec Design, both from the Phoenix area. Construction is scheduled to be completed in spring 2015.

nicole, small giants, web

Nicole Kadyszewski joins Small Giants

Nicole Kadyszewski has joined the Small Giants team as director of operations and recruiting, focusing on organizational management, process improvement and talent placement for marketing and business development professionals. With eight years of field experience in general contracting and real estate development, Kadyszewski is applying her project manager skills to orchestrate the team’s growing workload and operations.

Her technical understanding of the industry ensures all projects are completed with the highest level of value to the client.  Additionally, Kadyszewski leads Small Giants recruiting, placing marketing and business development candidates throughout the commercial real estate, and A/E/C industry.

Kadyszewski graduated from the University of Nebraska with a degree in Construction Management. She is a LEED Green Associate and recently completed the Arizona Builders’ Alliance Leadership Development Forum, which strives to educate construction professions and cultivate leadership skills. She is also supporter of Advancing Women in Construction and Habitat for Humanity.

7410 S. Roosevelt St., WEB

Consumer Cellular dials up 85,245 SF, 8-year back office lease

Portland, Ore., based Consumer Cellular leased 85,245 SF of back office space at Tempe Commerce Park, Bldg. F, 7410 S. Roosevelt St. in Tempe, Ariz. The 8-year lease begins this spring and comprises the entire building footprint.

Lee & Associates Principal Rick Lee represented the Scottsdalebased ownership of Walton-EH Tempe Commerce JV VI, LLC (Everest Holdings). Mike Nye of Capacity Commercial of Portland represented the tenant, Consumer Cellular.

Consumer Cellular is one of the largest no-contract cellular phone provider in the U.S. Its business model is geared to consumers who prefer a low cost, no commitment phone service. The company consistently ranks high in consumer surveys including a top company to work and
most innovative along with accolades from Careerbuilder, Inc. Magazine and Ernst & Young.

The Class-B, flex building offers 5:1,000 parking and is situated on the 6.5 AC back office/distribution Tempe Commerce Park. The property offers convenient access to the I-10 Freeway and is a short drive to Phoenix Sky Harbor International Airport.

Shields_Andrina, WEB

Andrina Shields Joins Transwestern

Transwestern announced Andrina Shields has joined its Phoenix office as vice president of multifamily investment services. Shields is an expert in multifamily operations and revitalizing troubled assets. The co-founder of Heads on Beds, a consulting group that advises multifamily property owners on ways to add value to their holdings, Shields brings more than 25 years of industry experience to Transwestern where she will serve as vice president in the multifamily investment services group.

“Andrina gives us a level of expertise that simply doesn’t exist at other Phoenix-area brokerages that deal with multifamily communities,” said Transwestern Vice President Jack Hannum. “She fortifies the authenticity and substance of our practice. And with a background in both operations and management, she can advise asset owners, investors and capital sources on finding innovative solutions for each opportunity and transaction.”

Shields spent five years with Alliance Residential Company as a regional manager, where she oversaw the daily operations of 3,500 units under multiple owners. Her exceptional service earned her the firm’s Commitment to Excellence Award for three straight years. She later served as a regional manager for Gray Clow Residential Development Group and was a key member in creating the Suite Living apartment concept at Grigio Tempe Town Lake. While at Heads on Beds, her clients included Prime Group, Heers Management Company, Arizona Multi-Housing Association and Pacific Property. Shields later joined Heers Management as a vice president.

“I’m delighted to join Transwestern,” said Shields. “The firm has a culture that encourages creative thinking and insightful analysis. When you combine this with its incredibly talented team of brokers, Transwestern’s multifamily clients have the best opportunities for growth.”

 

2700 W. Frye Rd., Chandler

Colliers International Completes $43.1M Sale of 183KSF Office in Chandler Price Corridor

Colliers International in Greater Phoenix recently completed the sale of a 183KSF, Class-A office building in Chandler for $43.1M, or $235.50 a square foot.

W. P. Carey Inc., a global net-lease REIT based in New York City, purchased the building at 2700 W. Frye Rd. in Chandler from Regent Properties of Los Angeles.

Neil Glassmoyer, senior vice president; Tivon Moffitt, vice president; and Peter Bauman, senior associate; all of Colliers International in Greater Phoenix, served as brokers for the buyer and seller.

“The market fundamentals in Chandler’s Price Road Corridor are very strong and the area is poised for continued expansion. The building’s location in the heart of Chandler’s Price Corridor helped attract W. P. Carey,” Moffitt said.

The Chandler submarket features one of the lowest office vacancy rates in Metro Phoenix, as tenants are drawn to the area due to the highly educated workforce, according to Colliers International.

“Price Corridor is Chandler’s premier employment corridor, and continues to attract companies interested in quality and a sense of place,” said Chandler Mayor Jay Tibshraeny. “It is a central hub for the workforce, infrastructure and amenities that the current marketplace demands.”

W. P. Carey Managing Director and Co-Head of Global Investments, Gino Sabatini, said, “The combination of the desirable location, credit tenant and quality asset made the acquisition an ideal addition to our portfolio. Together with its criticality to the operations of QBE the property meets all our investment criteria and supports our strategy of providing secure, long-term cash flow to our investors.”

QBE Insurance, one of the 20 largest insurance and reinsurance companies in the world, is the building’s only tenant on a long-term lease. This location is QBE’s second largest office building in the country. Overall, QBE is located in 43 countries.

“This acquisition was ideal for W. P. Carey given that the tenant, QBE Insurance, is a strong and stable investment grade tenant,” Bauman added.

Regent Properties completed the building’s construction after purchasing the property in 2011 and then fully leased the building to QBE shortly thereafter.

“Regent Properties had a dynamic vision for this property. They added significant value by completing this class A office asset,” according to Glassmoyer.

“The success of this project is due in large part to the cooperation and aid from the City of Chandler’s economic team, QBE’s desire to be in Chandler and ultimately Neil and Tivon, and the entire Colliers’ team, for connecting Regent Properties with the W. P. Carey team.  This project is emblematic of our proven track record at stabilizing once troubled assets as well as our commitment and belief in the Phoenix market,” according to Eric Fleiss, president of Regent Properties.

Executive Q&A: Leroy Breinholt

Leroy BreinholtLeroy Breinholt
President/Designated Broker, Commercial Properties Inc.

Years in CRE: 28
Years at company: 28

What attracted you to the industry?
I wanted to be a salesman and be in real estate since I was a child.

How has the industry changed since you started?
Technology has increased the pace of the business. You have to be “on your game” more.

What’s the most significant deal you’ve brokered?
Lincoln Meadows Business Park was my most significant sale at $28.8M for 215,000 SF of buildings with excess land.

What are three qualities of a great broker?
Responsiveness, respect for others and integrity.

What gets you through tough business days?
Family, religion and the real purpose of life

What’s the most influential professional advice you’ve received?
Try to work harder and smarter. Don’t compete against others, just try to be the best you can at what you do everyday.

What’s one of the biggest market changes or areas of growth you predict happening in Phoenix’s near future?
I believe development and land sales will be the area of growth again as more high tech firms look to relocate or expand into Phoenix.

Catalyst, WEB

Keyser Merges With Catalyst Commercial Group

Catalyst Commercial Group, a leading retail commercial real estate advisory firm exclusively serving the national, regional and local space needs of retail and restaurant tenants, announced today that they have entered into an agreement to merge with Keyser to create the largest, multi-platform tenant representation firm in Arizona.

“We are very excited to announce this merger between two powerhouses,” said Mike Leonard, co-founder and co-managing partner of Catalyst Commercial Group. “With Keyser’s cutting edge platform, deep commitment to exclusive tenant representation, exceptional growth trajectory and strong reputation in the marketplace, we saw the real ability to create significant synergies by joining forces to grow a best-in-class global tenant representation firm.”

The Catalyst team has represented some of the most prominent names in retailing including: Five Guys Burgers & Fries, Cold Stone Creamery, Papa Murphy’s Pizza, Jersey Mike’s Subs, Play It Again Sports, Plato’s Closet and the Joint Chiropractic.
“Keyser is the first organization we have encountered that shares the same commitment to service and a like-mindedness in our philosophies around corporate culture and how business should be conducted,” said Chris Ray, Catalyst’s other founder and managing partner. “This merger is about creating a broader, more robust platform for our clients, while taking a leadership role in a dynamic and disruptive organization committed to transforming the global commercial real estate brokerage industry through selfless service.”
The newly combined entity will operate under the Keyser brand, and anticipates hiring 20 to 25 additional team members over the next year or two to accommodate the increasing demand for their services. Mike and Chris will lead Keyser’s newly formed Retail Practice Group and will have a seat on Keyser’s Executive Advisory Committee. Their focus will be growing Keyser’s Retail Practice Group into the most dominant Retail Tenant Representation organization in the country.

Gainey Ranch Village, De Rito, WEB

De Rito Partners, Inc. Releases Recent Commercial Transactions

 

Dutch Bros. Coffee expanding to Surprise

Dutch Bros.

Dutch Bros.

Dutch Bros. Coffee is opening its first location in Surprise, Arizona just east of the southeast corner of Bell Road and Litchfield Road. De Rito Partners’ agents Brian Bridgman and Marty Olejarczyk represented Dutch Bros. in a ground lease of 23,762 square feet.

Middle Eastern market opening second Valley location

Ya Hala Middle Eastern Market is adding their second Valley location at the southwest corner of Bell Road and Cave Creek Road in Phoenix. Carl Jones Jr. and Gordon Heckaman of De Rito Partners represented the landlord in completing the deal for a 900-square-foot space.

DC Ranch Crossing adding two new tenants

The DC Ranch Crossing shopping center located at the southeast corner of Pima Road and Union Hills Drive in Scottsdale, Arizona will be adding two new tenants. Fleet Feet, a sports apparel store, and Roasti’s Pizza signed leases for 1,921 square feet and 3,484 square feet, respectively. John Palmieri and Paul Serafin of De Rito Partners represented the landlord in completing the two deals.

New tanning and massage outlet to open in North Phoenix

Greenway Village Shopping Center is adding a new tanning and massage outlet to the strip center located just east of the northeast corner of 32nd Street and Greenway Road in Phoenix. De Rito Partners agents Justin Rihs and Robert McKnight represented the landlord in completing the lease for 1,296 square feet.

Warner Village adding Jabz Boxing

Jabz Boxing Fitness for Women signed a lease to open their third Valley location, this one at Warner Village in Tempe, Arizona. The center is located at the northeast corner of Priest Drive and Warner Road. Gordon Heckaman and Trevor Clinch of De Rito Partners represented the landlord in completing the deal.

Fred Loya Insurance continues Valley expansion

Dobson Plaza located at the southwest corner of Dobson Road and Main Street in Mesa, Arizona will be adding a Fred Loya Insurance office. Brian Bridgman and Justin Rihs of De Rito Partners represented the landlord in completing the deal for a 1,533-square-foot space.

Home Smart Realty adding office in Fountain Hills

Christine Schroedel is opening a new Home Smart Realty office in Fountain Hills, Arizona at the northeast corner of Saguaro Boulevard and El Lago Boulevard. De Rito Partners’ agents Steve Bonnell and Roger Brevoort represented the landlord in completing the lease for 1,600 square feet.

Epic Thrift opening new Tempe location

Epic Thrift leased a 16,000-square-foot portion of a former grocery store at the southwest corner of McClintock Drive and Southern Avenue in Tempe, Arizona. Paul Serafin and Mike Kumelski of De Rito Partners represented the landlord in completing the deal.

Filiberto’s adding location in Goodyear

Filiberto’s Mexican Food signed a lease for a 1,950-square-foot drive-thru at Parkway Village in Goodyear, Arizona. De Rito Partners’ agents Trevor Clinch and Justin Rihs represented the landlord in completing the lease at the southwest corner of Estrella Parkway and Roosevelt Street.

Pet groomer opening first location

Furry Beginnings pet grooming boutique is set to open their first location this summer in Gilbert, Arizona. Gordon Heckaman of De Rito Partners represented the tenant in completing the deal for a 1,660-square-foot space at the southwest corner of Val Vista Drive and Williams Field Road.

West Valley Gaming opening at Rancho Mirage

West Valley Gaming completed a deal to open a 2,535-square-foot location at Rancho Mirage in El Mirage, Arizona. The center is located at the northeast corner of Dysart Road and Thunderbird Road. Bill Bones of De Rito Partners represented the landlord in completing the lease.

Luxe Salon relocating in Gilbert

Luxe Salon signed a lease to relocate to the San Tan Village Regional Center in Gilbert, Arizona. De Rito Partners’ agent Paul Serafin represented the tenant in completing the deal for a 4,470-square-foot space.

Starbucks adding new location in Peoria

Starbucks Coffee is set to open a new location in the former Jack in the Box across from Arrowhead Mall in Peoria, Arizona. The tenant signed a lease for 2,942 square feet just east of the southeast corner of 83rd Avenue and Bell Road. Paul Serafin of De Rito Partners represented the landlord in completing the deal.

Salon opening first location

My Salon Suites is opening their first location at the The Shops at Gainey Ranch in Scottsdale, Arizona. Steve Bonnell and John Palmieri of De Rito Partners represented the landlord in completing the deal for a 5,630-square-foot space at the center locates east of the northeast corner of Doubletree Ranch Road and Gainey Center Drive.

The Shops at Tatum Ranch adding a cigar bar

Mojitos Cigar Bar signed a lease to open a 2,830-square-foot location at The Shops at Tatum Ranch in Cave Creek, Arizona. De Rito Partners’ agent Bill Bones represented the landlord in completing the deal just west of the southwest corner of Tatum Boulevard and Cave Creek Road.

Speedie, WEB

Tucson-based LMT Engineering joins forces with Speedie & Associates, Inc.

Speedie & Associates, Inc. joined forces in Tucson, Ariz., with LMT Engineering. LMT is a firm that has specialized in geotechnical engineering, primarily in the Southern Arizona Market, for many years. LMT was headed by Lyle Tweet PE. who now joins Speedie as Regional Geotechnical Manager.  Prior to forming LMT approximately 10 years ago, Lyle had an outstanding career working for large established geotechnical firms within the state, culminating in his position as the Tucson Branch Manager for Terracon.   His long-standing reputation as a Geotechnical Engineer, particularly within the Tucson market – along with his widely-recognized abilities – will greatly strengthen Speedie & Associates Southern Arizona visibility.  

 

As Regional Geotechnical Manager for Speedie, Lyle’s primary role will be focused on developing new client relationships primarily in the Southern Arizona market – as well as providing geotechnical engineering leadership within the Tucson branch office.  Justin Manchester will continue to provide his excellent leadership as overall Tucson Branch Manager.        

 

Speedie & Associates is joined by another LMT associate, Ken Karaba RG. Ken joined LMT in 2008 as its Principal Geologist. Prior to that he was the Tucson Branch Manager for GRC Consultants, a full service geotechnical and environmental consulting firm headquartered in San Francisco.  Of his 35 years of experience in the fields of geotechnical engineering, CMT, and environmental consulting in the western US, the last 30 have been in Southern Arizona.  Similar to Lyle, Ken will bring both his outstanding local reputation and strong technical abilities in the geotechnical field to Speedie & Associates.  As a Geotechnical Project Manager working out of the Tucson office, Ken will be primarily providing Southern Arizona-based geotechnical and environmental support to the firm.