Partner-to-partner transactions building up the valley
one project at a time
When Valley Partnership was founded 27 years ago, it was on the principles of responsible development. It has since grown to thousands of members throughout the commercial real estate community — from subcontractors to some of the largest developers in Arizona.
Eastmark includes a partnership between DMB Associates and Markham Contracting Co.
“In 2014 and beyond, Valley Partnership developer companies are the leaders of almost every major commercial real estate project announced, including Marina Heights, the numerous announcements of deals at Eastmark, and Liberty Center at Rio Salado,” says Valley Partnership President and CEO Richard Hubbard.
The members have rallied behind the idea of partnership, Hubbard says.
“These developers use Valley Partnership partners for all construction disciplines related to the project including planning, design, architecture, general contracting, engineering and even law and accounting,” Hubbard says. “Many of those ‘partner-to-partner’ transactions have come from long-standing relationships created through Valley Partnership. I would say that every level of partner in Valley Partnership, from board member to sole proprietor, is participating in the current commercial real estate building activity in the Valley.”
Some companies, such as Evergreen Devco, take the partner-to-partner very seriously.
Valley Partnership Chair of the Board Doug Leventhal is the principal and COO of Evergreen Devco. Though Evergreen has focused much of its recent work in Denver, the company finds exclusive value in partnership with fellow VP members for Arizona projects.
“I can say that for all our Arizona work, we tend to work exclusively with the companies that see the value in Valley Partnership and either are active members or active sponsors,” Leventhal says. “Our general contractors, for example, need to be members or sponsors almost as a prerequisite to getting our business. Our architects, engineers, attorneys and title companies need to be members of Valley Partnership — or have a good reason why they are not! It’s important to Evergreen that we collectively support Valley Partnership since we all benefit from its mission to promote responsible development in the Valley. We are all connected in this unique way.”
Liberty Center at Rio Salado is a partnership between Liberty Property Trust and Markham Contracting Co.
That unique connection, as DMB Associates President Charley Freericks sees it involves Valley Partnership’s advocacy role for developers as well as a genuine passion for making Arizona a great place to live.
“Valley Partnership understands that real estate isn’t the only driver of the economy,” says Freericks. “We are the beneficiaries of a strong and growing economy and it’s in our interest to make this a great place to live.”
Freericks, who has been a member for 10 years, served on the board of directors, was chairman in 2009, and has sat on multiple committees.
Most of DMB Associates’ partners at the developers’ 6,000-acre masterplanned community of Eastmark – and around the Valley – are Valley Partnership members, Freericks says.
“Over the years, we have worked with so many contractors, consultants and service providers who are members it would be hard to name them all,” he says. “In fact it might be difficult to find any that aren’t members.”
Valley Partnership has multiple avenues for paving those partnerships. There are 10 committees, including one for an annual golf tournament and a community building project. One of the most popular and frequent member events, is the Friday Morning Breakfasts — a monthly morning panel discussion about an industry trend featuring local experts.
Freericks reflected on a breakfast about the impact and trade partnership Arizona has with Canada as a particularly helpful one for his masterplanned communities of Eastmark and Victory at Verrado, which target Canadian homebuyers.
“Valley Partnership attracts important speakers and hosts debates of candidates for state and local offices which helps me make better informed decisions,” he says. “The Valley Partnership advocacy team was a huge help to the Fighter Country Partnership efforts to bring the F-35 mission to Luke. This will impact our economy for generations to come. Valley Partnership’s role as the champion for moderate regulation has impacted all of our properties over the years and will continue to do so.”
Heather Markham, vice president of Markham Contracting Co., says her company has been a member of Valley Partnership since 1992 and is also a Stewardship Sponsor. Markham has attended breakfasts for the last five years and is one of the students in Valley Partnership’s inaugural Young Advocates Program. As a co-chair of the Community Project Committee, Markham says she also appreciate’s Valley Partnership’s commitment to networking and giving back to the community.
“I believe this involvement in the community is critical personally as well as professionally for everyone,” she says.
Markham has been self performing grading, paving and wet utilities civil infrastructure in the Southwest since 1977. Though Valley Partnership has only been around since 1987, Markham says the company has worked with many current Valley Partnership companies for nearly four decades. Partners include DMB Associates (Verrado and Eastmark), Macerich (Sonoran Crossing), Sunbelt Holdings (Vistancia), APS, Grayhawk Development, Lennar, Vintage Partners, MT Builders, HilgartWilson, Pulte, Atwell, Dibble Engineering, Wood Patel & Associates, Hoskin & Ryan, Siteworks, Speedie & Associates, Trench Shore Rentals, Alliance Bank of Arizona and Cemex.
“Valley Partnership plays a very strong role in responsible development of the commercial real estate community and provides an excellent venue for all the stakeholders in the process to come together and discuss issues and concerns as well as success stories,” she says. “This promotes strong partnerships between cities, counties, towns, state, land owners, developers, contractors, architects, engineers and every trade partner involved in making Arizona a great place to live and work.”