Tag Archives: Bryan Taute

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CBRE welcomes Krystal Dill to their team

GetFileAttachment-3CBRE has announced that Krystal Dill has joined the Phoenix location. As the newest member to the team, Ms. Dill will partner with Bryan Taute and Charlie von Arentschildt to provide leasing and investment sale services to agency clients.

Focused solely on listing assignments, Ms. Dill will be responsible for managing her team’s active listings, ensuring seamless execution of all leasing-related responsibilities, including leasing proposals, financial analyses, and working with prospective tenants, among other duties.

“I’m excited to welcome Krystal to our team. Her unique combination of experience on the landlord side and brokerage will further enhance our ability to meet our clients’ needs,” said CBRE’s Taute. “The Valley’s office market continues to improve and leasing activity is at post-recession highs. As the demand for office space in metro Phoenix surges, our team will continue to grow and adapt. Bringing Krystal on board ensures we are best able to deliver the highest level of service to our clients.”

Ms. Dill comes to CBRE from Lincoln Property Company where she was an associate and marketing manager. While with Lincoln, Ms. Dill assisted in leasing Lincoln’s entire 8 million-sq.-ft. portfolio. She also managed all property marketing campaigns for each of Lincoln’s assets, including oversight of campaigns from third-party brokerage houses. Prior to her role with Lincoln Property Company, Ms. Dill held positions with Voit Real Estate Services, Cushman & Wakefield of Arizona and Westcor.

For the past 2 years, Ms. Dill has served on the Board for AZCrew as the Chair of the PR/Outreach Committee. She also invests her time with NAIOP Arizona as a member of their Education Committee.


Equus Capital Partners enters into joint venture with iStar

CBRE announced it has arranged the joint venture between Equus Capital Partners, Ltd. (“Equus”) and iStar for the ownership of Raintree Corporate Center, a premier Class-A office complex located at 8800 and 8888 E. Raintree Drive in Scottsdale, Arizona.

Bryan Taute with CBRE’s Phoenix office and Kevin Shannon and Brad Burton with CBRE’s El Segundo office negotiated the transaction between Equus and iStar. Bryan Taute also has the marketing and leasing assignment on the property.

Equus is headquartered in the Philadelphia-area and is one of the nation’s leading private equity real estate fund managers; iStar is a publically traded REIT headquartered in New York City. An affiliate of Equus will enter the joint venture as the managing partner, working closely with CBRE brokers to implement an aggressive leasing strategy for the property.

“We are thrilled to be partnering with iStar on a trophy office asset in the Scottsdale market. We look forward to implementing our business plan and re-introducing the property to the brokerage community” said Jonathan Praw who oversaw the transaction for the firm. Praw who is Vice President and Head of West Coast Operations for Equus is based in the firm’s Los Angeles office.

“We are excited to partner with highly respected group like Equus. The joint venture allows us to capitalize on market and property-level improvements during our period of ownership, and align ourselves with a best in class owner as we lease-up the project to full stabilization” said David Sotolov, Senior Vice President and Head of West Coast Investments, who oversaw the transaction for iStar.

Strategically located on Loop 101 just north of Shea, Raintree Corporate Center is a 345,000 SF class A office complex that provides easy access and excellent visibility. The property offers tenants flexible floor plans, parking ratios in excess of six per 1,000 square feet, proximity to upscale retail and residential options. Serving as headquarters to Meritage Homes since 2014, Raintree Corporate Center is currently 51 percent leased and can offer up to 140,000 SF of contiguous space.

“We have already started working on an aggressive strategy that focuses on attracting large corporate users. Based on the above market parking ratio, freeway visibility, quality of the common areas, and proximity to amenities, Raintree is well positioned to lease-up quickly,” said CBRE’s Taute.

Hayden Ferry Lakeside in Tempe

Hayden Ferry 3 gets a new tenant

Savills Studley represented utility software company iFactor with its long-term lease agreement at the new Hayden Ferry 3 development under construction in Tempe.

Ryan Bartos and Matthew Coxhead of Savills Studley’s Phoenix office negotiated the transaction on behalf of iFactor; Bryan Taute of CBRE represented the landlord, Parkway Properties, Inc.

iFactor signed a lease for 17,000 square feet to accommodate future growth.  The new space is located on the fifth floor of the building and will create an open floor plan to encourage collaboration.  The firm has grown over 38 percent in 2015 and expects to grow an additional 45 percent within the next two years.

“We were able to negotiate deal terms at Hayden Ferry 3 that will help iFactor attract and retain great talent, including a great signage package and lease flexibility that accommodates their future needs from a growth perspective,” said Bartos.  “Situated in the rapidly developing Downtown Tempe area, the location gives employers access to an abundant pool of talent with the largest public university in the country – Arizona State University – located only five minutes away, while also providing an amenity-rich downtown vibe that the millennial workforce is attracted to.”

The new iFactor office will feature a number of collaboration spaces and video conferencing in meeting rooms to support communication between employee teams and the utility companies using iFactor software. The Tempe-based company currently occupies 8,000 square feet of space at Hayden Ferry’s second building and expects to move into its new space in December.

Over the last 24 months, Bartos and Coxhead have completed three transactions within the development and are consistently impressed with Parkway Properties’ ability to think outside the box to maximize tenant satisfaction.

“It is exciting to see local firms continue to flourish in this market and we look forward to seeing iFactor’s future success,” added Coxhead.

Hayden Ferry 3 offers custom-build, modern office space that features views of the Tempe Town Lake and the surrounding area, an on-premise gym facility and close proximity to Mill Ave, which touts a variety of restaurants.  Phoenix’s light rail is located only a few blocks away.

CBRE sells two Class-A offices for $44M in Scottsdale

92 Mountain View, located at 10001 N. 92nd St. in Scottsdale.

92 Mountain View, located at 10001 N. 92nd St. in Scottsdale.

CBRE has negotiated the sale of two premier class A office buildings in the Phoenix metro area for a total consideration of $44.15 million. The sale included the ±106,931-square-foot Scottsdale Gateway I, located at 9201 E. Mountain View Rd. in Scottsdale, and the ±116,200-square-foot 92 Mountain View, located at 10001 N. 92nd St. in Scottsdale.

Barry Gabel and Chris Marchildon with CBRE’s Phoenix office, along with Kevin Shannon, Ken White and Michael Moore in CBRE’s Los Angeles office, brokered the transaction between the sellers, TR Scottsdale Gateway I Corp. and TR 92 Mountain View Corp., and Equus Capital Partners, Ltd. of Los Angeles. Jenifer Ratcliffe and Erin Curry with Chicago-based LPC Realty Advisors were also involved in the transaction on behalf of the seller. Equus Capital Partners purchased the properties for a total consideration of $44.15 million.

Bryan Taute with CBRE’s Phoenix office has been awarded the marketing and leasing. Equus Capital Partners has also retained CBRE to handle property management.

Scottsdale Gateway I, located at 9201 E. Mountain View Rd.

Scottsdale Gateway I, located at 9201 E. Mountain View Rd.

“We are pleased to add these two well-leased, class A office properties to our existing Scottsdale portfolio,” said Jonathan Praw, vice president and head of Equus Capital Partner’s West Coast Regional Office, who oversaw the transaction for the firm, “This investment presents the opportunity to acquire institutional grade assets at an attractive basis in a strong infill location.”

“Interest in these two assets was exceptionally high given their strong leasing history. Both properties are located in a dynamic infill location and each has averaged 90 percent occupancy for the past ten years due to being surrounded by strategic economic engines such as Scottsdale Healthcare’s Shea Medical Campus and the CVS Caremark Corporate Campus,” said CBRE’s Gabel. “In addition, the properties are both in excellent condition, boast exceptional parking and are adjacent to abundant retail services and the Loop 101 Freeway.”

Built in 1998, Scottsdale Gateway I is a two-story, class A office building located directly across from the ±433-bed Scottsdale Healthcare Hospital and Medical Campus. The property is 91 percent leased to five, high-quality tenants, including Matrix Medical Network, Grand Canyon University, Scottsdale Healthcare Rehabilitation Center, SimonMed Imaging and Q Vision. Each of the tenants benefits from its proximity to a major hospital and medical campus.

Built in 1996, 92 Mountain View is also a two-story, class A office building with proximity to Scottsdale Healthcare Hospital and Medical Campus. The property is fully leased to CVS Caremark, the largest pharmacy healthcare provider in the United States and Scottsdale Healthcare Foundation headquarters, a group of world class medical centers within Metropolitan Phoenix.

Both properties benefit from surrounding amenities including dining, shopping, golf resorts and executive housing, as well as close proximity to the Loop 101 Freeway.

Westgate Entertainment District

Terminix Bringing 300 Jobs to Glendale

iStar Financial announced today that Terminix, the world’s largest pest control provider, will open a new customer care center at Westgate Entertainment District in October that will bring as many as 300 jobs to Arizona and help invigorate activity within the office buildings of the Entertainment District.

At 32,800 square feet, the deal is the largest office lease in Westgate’s history. The Memphis, Tenn.-based company is expanding its customer service operations to Arizona and will take over the entire second floor of the east office building beginning October 1.

“With Westgate’s attributes, including over 15 on-site restaurants and abundant parking, we strategically and aggressively targeted large corporate users and are pleased to announce the full-floor lease to Terminix,” said Jeff Teetsel, development manager of Westgate Entertainment District. “This is the largest office lease in Westgate’s history, and is another indication of our positive momentum. With our direct freeway access and ease and efficiency for employees to walk to lunch, we have a uniquely desirable mixed-use environment for office tenants.”

The announcement comes on the heels of strong leasing activity at Westgate Entertainment District in recent months including signed leases from Buffalo Wild Wings and Whiskey Rose Bar & Grill and the recent openings of Chipotle, Gallery Glendale and The Arizona Republic, which relocated its West Valley office earlier this year.

“This lease is a validation of the market’s response to the nearly $1 million in investments iStar has made in upgrades to the property over the past year that includes improving the parking lot and common areas and installing new signage to benefit office tenants,” said Teetsel.

Terminix, a company with revenues exceeding $1.3 billion, is the largest subsidiary of ServiceMaster, one of the world’s largest residential service networks. Terminix services more than 3 million residential and commercial customers in 47 states and 14 countries.

“This new Arizona facility reinforces our commitment to enhancing the Terminix customer experience and providing one-call resolution to any customer questions or concerns,” said Larry Pruitt, president of Terminix.  “Terminix already earns best-in-class service ratings from customers, and this new center will help us take that service to an even higher level.”

Terminix conducted a site selection process throughout the western United States, narrowed the focus to Denver, Salt Lake City and Phoenix, and ultimately selected metro Phoenix and Glendale specifically.

CBRE’s Bryan Taute and Brad Anderson represented the landlord and Newmark Grubb Knight Frank’s Aaron Sommer, of the Atlanta office, and Geoffrey Waldrom and Dan Dobric, of the Phoenix office, represented the tenant.

The City of Glendale Economic Development Department worked to expedite permit processing and coordination to help the tenant meet its expedited occupancy target date. Jeanine Jerkovic in City’s Economic Development department coordinated the City’s efforts, along with Department Director Brian Friedman.

For more information about Westgate Entertainment District, visit www.westgateaz.com.