Tag Archives: Courtney Auther Van Loo

Fate Brewing  Rendering

Cushman & Wakefield negotiates $2M sale

Cushman & Wakefield of Arizona’s Retail Services Division negotiated the $2 million sale of 1312 N. Scottsdale Rd., which will be the new home of Fate Brewing Company.

Brian Kocour and Courtney Auther Van Loo of Cushman & Wakefield represented the seller, SBI Leasing Inc. of Scottsdale. Scottsdale-based real estate investor Tom Frenkel was the buyer and was self represented.

Steve McFate of Fate Brewing Company announced he would be expanding his craft beer operation by occupying more than 10,000 SF of the almost 15,000 SF building. The expansion will include a sizeable “beer garden” style patio and 19-foot interior ceiling heights.

McFate will continue to brew his small batch, limited-release beers at his current location just east of Scottsdale Road on Shea Boulevard. He will brew his flagship beers at the new location.

“Tom Frenkel saw an opportunity with a former restaurant of this size combined with abundant parking on Scottsdale Road,” Kocour said. “The McDowell Road corridor has a promising future. This is just the beginning of the unique, vibrant business making a home in this area.”

With five locations already in the Valley, Plato’s Closet consignment store will occupy the remaining space in the building. The sale price commanded $133.69 per square foot.

Luhrs, WEB

The Luhrs endures: Adaptive reuse, retail breathe life into iconic downtown building

Nestled among the steel and glass high rises in downtown Phoenix, the Luhrs Building stands as a symbol of the iconic brick-and-mortar structures that once graced the inner city.

As the City of Phoenix embraces the concept of adaptive reuse, the Luhrs Building, constructed in 1924 at a cost of $553,000, is part of this trend to repurpose existing buildings with retail or office additions.

According to the City of Phoenix website, the number of adaptive reuse projects – renovating buildings and turning them into new spaces – has increased since it started its adaptive reuse program in 2008. There were 17 projects in the first year. That number jumped to 48 in 2013.

“Historic, unique buildings are excellent prospects for adaptive reuse,” says Summer Jackson, associate director with the retail services division at Cushman & Wakefield of Arizona, the brokerage firm handling the retail leasing assignment for the Luhrs Building.

“Many restaurateurs are taking advantage of these spaces to create new concepts that cater to the demand in the area. It’s an opportunity to do something innovative – something different,” Jackson adds.

Bitter & Twisted

Bitter & Twisted

One such establishment that has taken advantage of the opportunity is the Bitter & Twisted Cocktail Parlour, 1 W. Jefferson. Owner Ross Simon says he was looking for a space with a great history and some genuine “wow factor.” A space, he says, that had a real city feel for a concept that would be at home in any major city around the world.

“Also something that could lend itself well to the cocktail-centric concept,” Simon adds.

Adaptive reuse is evident elsewhere around Phoenix. Some of the more notable examples include:
>> Culinary Dropout at the Yard, a former motorcycle dealership built in the 1950s on 7th Street;

>> Taco Guild at Old School O7, the former Bethel Methodist church on Osborn Road;

>> Southern Rail and Changing Hands bookstore at the Newtown Phx, the former Beef Eaters restaurant built in 1961 on Camelback Road;

>> Windsor and Churn, which share a restored 1940s building on Central Ave.

“Consumers are looking for an experience,” says Courtney Auther Van Loo, Associate Director with the Retail Services Division at Cushman & Wakefield. “While maintaining historical architecture styles and a building’s unique iconography, developers and tenants have created one-of-a-kind experiences and breathed new life into these landmarks. This style of reuse combines a contemporary feel with a touch of the classic.”

When he was selecting a site, Simon says he wasn’t necessarily looking for a space in an adaptive reuse project. “But after I revisited the space and thought about the layout a bit more to know it would work, I was sold on it,” he says.

Bitter & Twisted, as well as Subway sandwich shop have become retail tenants at the Luhrs Building.

“I had a real idea of what I wanted the overall place to look and feel like from an operational standpoint and from a guest experience point of view,” says Simon, who adds that Bar Napkins Production worked on the initial layout and all the architectural plans. Southwest Architectural Builders was the general contractor.

As the light rail whizzes by the Luhrs Building on Jefferson, it’s evident a sense of “newness” is also being felt downtown. An $80 million, 19-story hotel – the 320-room Luhrs City Center Marriott – breaks ground later this year at the northwest corner of Madison Street and Central Avenue.

The project is being developed by the Hansji Corporation of Anaheim, Calif. It’s the same family-owned company that purchased the “Luhrs Block” in 2007.  For the past 38 years, Hansji Corp. has developed more than 2MSF of office, retail and hotel space.

“It (the Luhrs Block, which also includes the Luhrs Tower) was really our first historical building,” says company President Rajan Hansji. “We knew it was something special. You can’t recreate this. It’s history. It gave me a new appreciation (for historical properties).”

Hansji says he is pleased with the outcome of Bitter & Twisted and its historical feel, including exposed original walls and beams.

“That corner is going to define the block,” Hansji says. “It (Bitter & Twisted) will be the catalyst for the rest of the block. It’s an amazing and unique space. The hotel’s exterior will utilize different brick colors and utilize the Luhrs’ history.”

Cushman & Wakefield - Female Force

Cushman & Wakefield's Female Force Helping To Integrate The Industry

The commercial real estate services industry continues to be led predominantly by men. However, the field has significantly changed in the past 10 years as more women achieve success in this traditionally male-dominated industry.

Nowhere is this more evident than Cushman & Wakefield’s Phoenix office, where 21% of the company’s local professionals are now women. This compares to just 9% a decade ago.

“Having a diverse workforce is fundamental to the future success of Cushman & Wakefield; and for that matter, must be for any company that truly understands the marketplace today,” says Tom Johnston, senior managing director for the company.

“For years, Cushman & Wakefield has embraced the principal that the makeup of its workforce must reflect that of its customer base,” Johnson adds. “In addition, women bring a unique perspective to the table that we are able to leverage in every transaction and even every day to day encounter we have with the public, allowing us to deliver a unique and superior level of customer satisfaction.”

CW-Cathy-TeeterCathy Teeter, director and senior operations manager, serves as the highest ranking female in the office. For the past 25 years she has overseen the financial, administrative and human resources operations. Teeter is a recognized leader on a number of national committees and training programs. She stands out in Phoenix and beyond, having been honored twice with the Cushman & Wakefield Operations Manager of the Year and Staff Professional of the Year awards for the Americas.

CW-Jo-DanceJo Dance, MAI, SRA, CCIM serves as managing director/regional director of Valuation and Advisory, covering Arizona and New Mexico. Actively involved in commercial and residential real estate since 1986, Dance was the recipient of the 2011 Cushman & Wakefield Valuation & Advsisory National Quality Award. She is a member of the Governor-appointed Arizona State Land Department Board of Appeals, as well as an active member of AZCREW, NNCREW, Lambda Alpha Land Economics Society, Appraisal Institute and CCIM Institute.

CW-Kathleen-HolmesKathleen Holmes, MAI, RPRA, MRICS is a leader in Valuation and Advisory as senior managing director, and Government Practice Group Leader. Holmes utilizes more than 25 years of real estate appraisal experience that’s blended with a background in banking and federal government work to create a unique skill set. Her role is to serve government clients throughout the national in their valuation and advisory needs.

CW-Stephanie-RinardStephanie Rinard also works in Valuation and Advisory. She joined Cushman & Wakefield in 2011 as an Intern while she earned her Master of Real Estate Development degree at ASU. She was hired this past May as a staff appraiser. Rinard earned her Certified General Appraisal license in Ohio. Rinard offers a variety of skills, especially preparation of feasibility studies including market analysis to provide land use and development recommendations.

CW-Patti-FarinaPatti Farina, LEED AP, RPA, serves Cushman & Wakefield clients as senior portfolio manager in Corporate Occupier and Investor Services. Farina brings more than 16 years of experience to her position. Her responsibilities encompass all aspects of property management for office, retail and industrial properties. These duties include client relations, broker relations, financial review, capital and tenant improvements, as well as tenant retention.

The remaining Cushman & Wakefield female professionals can be found in the growing brokerage division of the company. They work in leasing and sales, applying their skills to all product types.

CW-Summer-DavisSummer Davis, senior associate in Retail Services, has worked both in brokerage and for retail corporations. Her leadership in the International Council of Shopping Centers, as well as her role in Cushman & Wakefield’s Future Leaders program enhances her representation of landlords and tenants.

CW-Courtney-AutherCourtney Auther Van Loo also works with retail tenants and landlords, providing more than seven years of experience to her clients. She’s worked with leading landlords such as Evergreen Development and Pacific West Land, as well as retailers such as Bashas’ Inc. and Dutch Bros Coffee.

CW-Chelsea-MaddoxChelsea Maddox, senior associate in Office Leasing works with tenants and buyers throughout Arizona. Maddox has worked with such tenants as OnTrack Tutoring, Grayhawk Pediatrics and Precision Endodontics. She is actively involved in NAIOP, AZCREW, ULI and the National Association of Professional Women, as well as Cushman & Wakefield’s Future Leaders

CW-Jackie-OrcuttJackie Orcutt, Associate in Industrial Properties works alongside powerhouse brokers Bo Mills, Mark Detmer and Will Strong. This top-producing team utilizes Orcutt’s background in Economics and Business Psychology to enhance their performance. Since starting her career in 2007, Orcutt has been involved in more than 47 lease transactions, 12 building sales and the sale of approximately 34 acres of land. She is part of the AZRE Brokerage Team of the Year 2011 and the COStar Power Broker 2011. Orcutt also actively participates in AZCREW, ULI, and NAIOP. She also is part of the Westmarc Economic Development Committee.

CW-Tara-LewisCushman & Wakefield’s most recent female addition joined the Multifamily Advisory Group. Tara Lewis now serves as an associate with the team of Jim Crews, Brett Polachek and Jillian Lysakowski. Armed with a BBA in Finance and an MBA from ASU, Lewis will work with the group to do business development, market research and financial analysis.