Tag Archives: Cresa


$7M JLL Hangar sale shows Phoenix aerospace is flying high

The Phoenix office of JLL has closed the $7 million sale of The Hangars at 5615, a major, state-of-the-art office and hangar facility with direct runway access to Phoenix Mesa-Gateway Airport, the hub of Phoenix’s up-and-coming aerospace corridor.

Although the property is currently 100 percent vacant, it is being acquired by an investor with an expected commitment for approximately half of the space.

“At 73,826 square feet, this is one of the largest hangar facilities on the West Coast,” said JLL Managing Director Bill Honsaker. “The Hangars’ new owners have had strong tenant interest from the very beginning of this process, and we expect that interest to continue as they lease out the building. The unique amenities of this project, the growth of Phoenix-Mesa Gateway Airport and the growth of Arizona’s aerospace sector as a whole have put them in a great position.”

Honsaker, along with JLL colleagues Steve Larsen, Riley Gilbert, Tom Turley and Jordan Kissel, represented the property seller in the transaction. CRESA represented the property buyer, Southwest Jet Center.

The Hangars at 5615 is located at 5615 S. Sossaman Rd., at the north entrance of Phoenix-Mesa Gateway Airport in Mesa, Arizona. Built in 2007 and 2008 as a full-service Maintenance, Repair and Overhaul (MRO) facility for former jet aircraft producer Hawker Beechcraft, the 73,826-square-foot project includes approximately 22,900 square feet of high-end office space flanked by two, fully air-conditioned hangars totalling 25,800 and 25,140 square feet.

Other features of the building include a contemporary main lobby, executive offices, conference rooms, a kitchen and locker rooms. The hangar space features 28’ door heights, 159’ door openings, a Compressed Air Foam (CAF) fire suppression system and HVLS fans throughout. The 5.6-acre site includes adjacent land for expansion.

“The Gateway Airport submarket is growing, and Phoenix aerospace companies are growing as well,” said Gilbert. “This site accommodates both of those very positive trends.”

Phoenix-Mesa Gateway Airport is a developing international aerospace center now hosting more than 40 companies such as Embraer, Cessna and Able Engineering, and contributing $1.3 billion annually to the Arizona economy. It offers three runways averaging 10,000 square feet and is situated within Foreign Trade and Military Reuse zones providing savings in property taxes and transaction privilege taxes, and offering job tax credits and job training funds.

1230 W 23rd Street

Solar Company consolidates into Tempe industrial property

DTZ, a global leader in commercial real estate services, announced that American Solar Electric, Inc., dba American Solar & Roofing, signed a lease for 18,800 square feet at 1230 W. 23rd Street in Tempe, AZ. The Arizona-based residential solar system and roofing services company consolidated offices into the single-tenant, industrial property. The building features ground-floor and mezzanine office space, warehouse space and a fenced yard.

Vice President Kent Hanson with DTZ‚s Industrial Services Group represented the landlord, Bishop Family Trust Dated 1995, during the lease transaction. Rod Beach with CRESA represented the tenant.

Gary Gregg

Cresa Phoenix announces 2014’s top producers

Cresa, the largest tenant representation firm in the world, announced its Top Producers of 2014 at the company’s annual spring conference on May 16th in Dallas.

The top producers from Cresa Phoenix include:
·      Gary Gregg, Managing Principal
·      Jason Wery, Managing Principal | Project Management
·      Mike Gordon, Vice President

CEO Rich Rhodes said, “I congratulate these top producers in Cresa, for they are dedicated to the success of our firm and provide exceptional service to clients and serve as their advocates.”

The Cresa Phoenix office also received Recognition of Achievement in Recruiting, as well as Recognition of Superior Cross Collaboration with Service Lines.  Kelly Branch, Senior Advisor, Project Management was the recipient of the Rising Star Award in his service line.

Oblique & Renderings of Airport I-10-1

Airport I-10 announces three national tenant leases

Just as Airport I-10’s 600KSF Phase I approaches completion, Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have announced the signing of three major, national tenant leases that bring one of the largest speculative office projects in Phoenix history to more than 35 percent pre-leased.

The new tenants at Airport I-10 include:

• DLS Worldwide, a major, volume-leveraged third-party logistics provider, leasing 78,843 square feet in Building B for a new headquarters, light manufacturing, assembly and distribution facility.

• DHL, the world’s leading postal and logistics group, leasing 40,529 square feet in Building E for a regional parcel delivery hub.

• Pilot Freight Services, a worldwide provider of transportation and logistics services, leasing 31,824 square feet in Building E for centralized pick-up and delivery service operations.

JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and JLL Associate Kyle Westfall represented Wentworth/Clarion in all three leases. Mike Gordon of Cresa represented DLS. John Werstler, Jerry McCormick and Cooper Fratt of CBRE represented Pilot. Jim Wilson of Cushman & Wakefield represented DHL.

The new leases join with a 63,470-square-foot pre-lease completed by JLL in mid-2014 with Anixter International, Inc., a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts.

Inclusive of Anixter, this brings JLL’s new lease commitments at Airport I-10 to 215,000 total square feet, leaving the project’s three-building, 600,000-square-foot Phase I at 35 percent leased, before construction is even finalized.

“Modern companies want modern buildings. This is making all types of users more sophisticated about what they look for in an industrial location,” said Harlan. “They are requiring the kind of improved function that you get from features like higher clear heights, better overall building layout and better truck maneuverability. Airport I-10 checks all of these boxes, and because of this is attracting tenants making an overall flight to quality – a trend that is happening across the entire industrial market.”

“Airport I-10 was designed to give modern industrial tenants a home in the heart of Phoenix’s industrial distribution network. We couldn’t be more pleased with the companies that have committed to space here,” said Wentworth Property Company Principal James R. Wentworth. “They are a barometer of the types of businesses that we believe will continue to chose Airport I-10 and build out one of the submarket’s best and last industrial parcels.”

Located at the northwest corner of 24th Street and Rio Salado, Airport I-10 Business Park represents the last large, developable parcel left in the Sky Harbor International Airport submarket. Phase I includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). This portion of the project is 35 percent pre-leased to Anixter, DHL, DLS and Pilot.

At build out, the 58-acre Airport I-10 property will include five Class A industrial buildings totalling 920,584 square feet, with a modern environment for corporate users and fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.

IDI Photo, Cresa, WEB

IDI Distributors leases 29KSF in Phoenix


Cresa Phoenix announced that it completed a 29,242 square foot lease for IDI Distributors, Inc. at 236 E. Pima St. in Phoenix.


Cresa Phoenix Vice President Ted Liles and advisor Grant Kingdon negotiated on behalf of the tenant, IDI Distributors, Inc., a “One-Stop-Shop” for insulation products and technical expertise. The landlord, Thackeray Partners, was represented by Tom Louer and Stein Koss of Lee & Associates.


“The new facility will provide IDI Distributors with more space and a great, central location to better service their customer base,” said Cresa’s Ted Liles.


IDI Distributors, Inc. provides insulation products, technical expertise, professional training and business support. They are a family-owned and operated company with 34 locations, nationwide. They take pride in their “We work for you” philosophy and their energy saving products.


Christopher R. Walton joins Cresa as a Managing Principal of the Phoenix office.

Cresa Phoenix adds corporate advisory team

Chris Ellington, Cresa

Chris Ellington, Cresa

Cresa, a commercial real estate tenant representation firm, just got larger. Cresa Phoenix announced that one of the city’s most successful corporate real estate advisory teams has joined Cresa. Chris Walton will join Cresa’s global platform as a Managing Principal, along with Ryan Burkett as Vice President, and Chris Ellington as Advisor. Alongside the other partners, Gary Gregg, Scott Maxwell and Jason Wery, Walton and his team will be charged with expanding Cresa’s footprint throughout Arizona.

Christopher R. Walton joins Cresa as a Managing Principal of the Phoenix office. Walton specializes in corporate multi-market tenant representation, site selection, build-to-suit project management, and asset disposition. Throughout his 14-year career in commercial real estate, Chris has completed over 610 transactions spanning 30 states in excess of $700 million in gross consideration. Achievements he has been recognized for include Rookie of the Year award in 2003, the 2006 Circle of Excellence (which honors the Top Producers nationally for Grubb & Ellis), Top Producer at Grubb & Ellis| BRE Commercial and Cassidy Turley between 2005 –2010, and most recently, the Top Producing team at Heiple Travers in Phoenix.

Ryan Burkett, Cresa

Ryan Burkett, Cresa

“This distinctive merger of talent for Cresa Phoenix will provide us with the ability to harness our collective experience and knowledge to the benefit of our respective clients,” said  Walton. “It was vital for us to work within a progressive culture with a partnership model, broadly held equity and no debt. I am excited to become a principal within this company and play an integral role in the future direction of the company’s growth.”

Ryan Burkett joins Cresa as Vice President of the Phoenix office. Burkett has a strong background in commercial real estate and finance, specializing in office leases and purchases. He comes from Heiple Travers, where he served on the top producing team and previously held positions within Vanguard and US Airways.

Kallie Burkett, Cresa

Kallie Burkett, Cresa

Chris Ellington joins Cresa as Advisor in the Phoenix office. Chris comes from Heiple Travers where he served on the top producing team with Walton and Ryan Burkett. Ellington specializes in lease renewals, expansions and relocations.

Kallie Burkett joins Cresa as an Administrative Assistant in the Phoenix office. Burkett will provide assistance on various projects pertaining to office brokerage, including conducting research, marketing, and data entry. Burkett previously worked with the Walton Team in Phoenix prior to joining Cresa.

Cresa executes disposition and new lease for 3M Company

Tenant representation firm Cresa announced that it had executed the disposition of a 270,890 SF building and 42 acres of land for $31.91 million in Ontario, Calif., for 3M Company. As part of the transaction, Cresa Phoenix negotiated a 10-year lease on a 454,877 SF distribution facility to be constructed on a vacant parcel nearby.

The project team was headed by Doyle Shea, Real Estate Manager for 3M Company.  3M was represented by Cresa Phoenix advisors Gary Gregg, Mike Gordon, Ashley Snyder, and Eric Walker.  Sam Foster, of Jones Lang LaSalle also participated in the transaction, and David Nazaryk of the Trammell Crow Company will handle the development of the new distribution facility, which breaks ground on July 22, 2014.  The building is expected to be delivered on May 1, 2015.

“This was a complex assignment, and we looked at multiple scenarios for accomplishing 3M’s goals.” Cresa Phoenix Managing Principal Gary Gregg said. “We were able to achieve extremely favorable economic terms for 3M while making sure they have a state-of-the-art distribution center,” he added.

Cresa is the exclusive commercial real estate provider for 3M Company in the United States.  With approximately 40 million square feet and 240 locations in the US, 3M’s portfolio features a number of distribution facilities strategically placed throughout the country. As one of the largest conglomerates in the world, their product line is extensive, with more than 55,000 products to date, including adhesives, laminates, electronic materials, building materials, and car-care materials, as well as others.

Cresa Phoenix awarded national honors

Cresa, the largest tenant representation firm in the world, announced the winners of its Teddy Trophy, given to top producers throughout the organization at the Company’s annual spring conference, held this year in Los Angeles.

The Teddy Trophy is named for two great “Teddys” in history – President Teddy Roosevelt, and the great Boston Red Sox player Ted Williams, the last man to have a batting average above .400. Cresa transaction managers and project managers draw inspiration from the success of these two iconic American leaders and thus the award was so christened.

CEO Jim Leslie said, “I congratulate these top producers in Cresa, for they are the backbone of the success of our firm.”

“These talented and dedicated individuals provide exceptional service to clients and serve as their advocates every day,” he added.

Winners of the 2013 Teddy Award include:

Tim Conley

Kathy Burke
Bubba Chrismer
Kevin Creel
John Flack
Joe Grace
Bo Keatley
Mike Loy
Bob Misdom
David Rubenstein
Jim Bob Taylor

Jack Burns
Chris Crooks
Joe Doyle
Brandon Leitner
Rick Lowe
Shawn McDonough
Tim Myllykangas
Dave Ross
Joe Sciolla
Bob Shulman
Adam Subber
Dan Sullivan

Donna Banks
Damon Harmon
David Miles

Mark Ayers
Tim Brotherton
Amy Johnson

Bradley Metzger
Allen Rogoway

Bill Baldwin
Brendan Fisher
Phillip Infelise
Bruce Johnson
Chad Kollar

Erica Holton
Bill Lichwalla
Ken Mason
Cameron McCausland
Rick Pifer
Brandon Podolski
Paul Theriault
Greg VanKirk
Paul Wills
André Granello
Steven Heal
Sue Rogers

Los Angeles
Carlo Brignardello
Brian Davies
Dan Gallup
Roy Longman
Matthew Miller
Rick Pearson
Gerald Porter
David Toomey
Allen Trowbridge
Seth Wellisch

Tim Rikkers

Steven Dorgan
Gwen Schultz
Thomas Sexton
Mike Tobin
William Tobin
James Vos

New Jersey
Ron Ganter
Tom Giannone
Dennis Gralla

New York
Jim Pirot
Marcus Rayner
Wes Rudes
Ed Wartels

Orange County
Dillon Dummit
Mike Johnson
Wayne Lamb
Jeff Manley
Rick Martin
Jason Shepard
Robin Wherritt
Dave Willis

Darren Fleming

Jeff Baker
John Behm
Matthew Feeney

Gary Gregg
Jason Malcolm
Scott Maxwell
Jason Wery

Chris Elsenbach
Matt Newstrom
Craig Reinhart
Niall Travers
Eric Turner

Edwin Yarbrough

Jim Niethammer

San Francisco
Stephen Carlson
Matt Elmquist
Jeff Gagnon
Tyler Kellogg
Janna Luce
Scott Stone
Craig Zodikoff

San Jose
Fletcher Baker
Joe Brady
John Brady
Chris Brown
Nate Currie
Peter Hamann
Scott Kinder
Steve Lico
Mike Mordaunt
Mark Moser
Mark Pearson
David Tipton

South Florida
Charles Barton
Barbara Liberatore Black
Alexander Brown
Matthew Cheezem
Matthew Goodman
Alan Kleber
John Marshall
Glenn Olson
David Prevè

St. Louis
Rick Dames
Steve Schmid

Mark Bleiwas
Jamie Grossman
Kevin Haverty
Sean Hoehn
Michael Lomax
Dean Newman
Mark Zettel

Michael Alcamo
Thomas Birnbach
Samuel Buckner
J. Russell Canard
Brian Cornrich
Doug Damron
Peter Gottesman
Daniel Klueger
Rick Meadows
Jon Olmstead
Richard Rhodes
Gene Sachs
Steve Schaumberg
Dan Shapiro
Dennis Tapiero
Kathy Thomas
William Tidwell
Matthew Ward


RED AWARDS 2014: Best Industrial Project

On Feb. 26, AZRE hosted the 9th Annual RED Awards reception at the Arizona Biltmore in Phoenix to recognize the most notable commercial real estate projects of 2013 and the construction teams involved. AZRE held an open call for nominations and more than 100 projects were submitted by architects, contractors, developers and brokerage firms in Arizona. Click here to view all 2014 RED Awards Winners.‎

Marshalls Distribution Facility
Developer: Marshall’s of MA, Inc.
Contractor: Layton Construction
Architect: Ware Malcomb
Brokerage: Cresa
Size: 1,525,876 SF
Completed: September 2013

The Marshall’s Distribution Facility’s sheer scale is awe-inspiring, capping at 1,525,876 SF this facility is not only large but also has energy efficiency and conservation embedded into its framework. The restrooms inside this facility use low-flow water closets and urinals, saving 83,000 gallons of water a year. Instead of being evaporative cooled, Marshall’s is air-conditioned. This will save a whopping 6,000,000 gallons of water per year. The roof of this facility is painted white to avoid trapping heat from the sun, and its HVAC energy system is designed to save energy for the entire building as a whole. The building also uses natural lighting to light many of the areas making the use of artificial lighting low and keeping costs low. When the facility was being constructed, the waste was recycled and the material used was low in volatile organic compounds.