Tag Archives: DC Ranch

PavoReal, WEB

PavoReal Interiors Opens at Market Street at DC Ranch

PavoReal Interiors opens this month at Market Street at DC Ranch.

PavoReal Interiors specializes in custom home furnishings, including antiques, fine rugs, gallery art, custom window treatments, accessories, upholstery and bedding.

“Our ability to attract established, local businesses with sophisticated taste like PavoReal Interiors shows the incredible reputation Market Street at DC Ranch has built for itself as a one-of-a-kind commercial destination,” said James C. Mastandrea, Whitestone REIT’s Chairman and Chief Executive Officer. Whitestone REIT is the owner of Market Street at DC Ranch.

For PavoReal Interiors, selecting Market Street at DC Ranch as their second location was the result of searching for months for the perfect destination that positioned them closely to the majority of their clients.

Amenzone

Amenzone Fitness Announces DC Ranch Location

Amenzone Fitness — the gym with workouts that revolve around large, recycled tires — will be opening its newest Arizona location in DC Ranch on January 18. The 3,220 square-foot facility will be located at 17060 N. Thompson Peak Parkway and is the first to feature a boxing ring. The DC Ranch franchise is owned and operated by boxing coach JD Durso and fighter/trainer Amy Sico.

“We are excited to add a franchise that maintains our primal philosophy while adding a boxing ring to combine for a truly unique experience,” said Amen Iseghohi, founder and CEO of Amenzone Fitness. “The first time I saw Sico in the boxing ring with Durso in her corner, I knew immediately the Durso and Sico partnership would be a knockout for Amenzone Fitness.”

In addition to Amenzone Fitness’ signature primal group classes offered, the DC Ranch location will offer a multitude of boxing services including group classes and personal training. A combination of primal and boxing classes, complimented by Amenzone’s unique training philosophy, members can expect to get both a physical and mental workout.

Durso and Sico have been business partners for the past two years, bringing their passion and expertise from Durso Boxing. The two trainers have a combined 38 years of experience in the fitness industry, specializing in both training and boxing.

Amenzone Fitness has locations in Scottsdale, Fountain Hills and franchise locations throughout California and Arizona. The DC Ranch location will be the sixth Amenzone Fitness in the Valley, joining recently opened gyms at Arrowhead in Glendale and Biltmore Fashion Park in Phoenix.

Arizona Real Estate Trends Conference

Wolf Named to Who’s Who of Franchise Lawyers 2013

The national law firm of Quarles & Brady LLP announced that Phoenix partner Jeffrey H. Wolf, a DC Ranch resident, has been named to The International Who’s Who of Franchise Lawyers 2013 by Who’s Who Legal. He is one of less than 400 attorneys worldwide selected for the honor. This is his third consecutive time being named to the prestigious list.

Who’s Who Legal identifies the foremost legal practitioners in several areas of business law around the world. Nominees are selected based upon comprehensive, independent surveys with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.

Wolf is a member of the firm’s Commercial Litigation and Franchise and Distribution Groups. His national litigation practice focuses on representing franchisors in complex cases, including the defense of class actions. Wolf has handled a variety of franchise litigation cases involving termination, transfers, rights of first refusal, the implied covenant of good faith and fair dealing, trade secrets, trademark infringement, franchisee associations, and unfair competition.

DC Ranch

Whitestone REIT Acquires Market Street at DC Ranch for $37.4M

Whitestone REIT, a real estate company that owns, operates and re-develops community centered properties, announced Thursday that it purchased Market Street at DC Ranch® in Scottsdale for $37.4M, or $156 per square foot. Market Street primarily serves the DC Ranch neighborhood, one of Scottsdale’s signature master planned communities,  anchored by Safeway grocery, at the cross roads of Pima, and Thompson Peak, just north of highway 101. The 241,280 SF property is currently 80% occupied and includes land to build and lease another 35,000 square feet.

The addition of Market Street to Whitestone’s Arizona portfolio marks its 21st acquisition in the greater Phoenix metropolitan area, and increases its footprint to over 1.8 MSF of gross leasable space.  Whitestone has acquired three properties, Fountain Hills ($20.5 Million), Woodlands ($2.8 million) and Market Street ($37.4 million) totaling $60.7 million since its equity raise in October. Market Street is expected to be immediately accretive to Whitestone’s earnings, adding $0.06 to current Funds From Operation (FFO) per share.

The Seller, DMB developed Market Street as a part of the overall Master Planned Community to provide the residents of DC Ranch and Silverleaf a dynamic mix of local services and a place to dine, shop and work. In addition, Market Street has evolved into a popular destination to bring the community together by hosting major events including the Tour de Scottsdale and the Run for Ryan House.

146068593

Scottsdale Builder Wins 4th straight Eliant Award

Eliant recently announced Rosewood Homes as winner of the 2013 “Homebuyers’ Choice Award” for providing the “Best Overall Purchase and Ownership Experience” in North America. Rosewood was also recognized again for having the highest “First Year Quality” rating. This is the first time a homebuilder has been honored in four consecutive years and Rosewood Homes is the only Arizona builder to ever receive this prestigious award. The 2013 winners were chosen based on the results of surveys completed by more than 76,000 recent home buyers from across the United States and Canada.

For more than 27 years, David Kitnick and his team have been recognized for providing exceptional quality, customer satisfaction and design excellence. Generous standard features, innovative floor plans and rich architecture combine with high quality construction and energy efficient features to make Rosewood Homes the top choice when purchasing a luxury home.

“There is no better honor than to have actual homeowners vote based on their personal experience with their builder,” said David Kitnick, President of Rosewood Homes. “At Rosewood, there’s only one way to do things: the right way. That’s why throughout the building process you’ll find our rigorous Rosewood Quality Assurance Program and our Rosewood Signature Construction, where we go above and beyond the industry standard for quality and craftsmanship,” said Kitnick. “Everyone affiliated with Rosewood is committed to providing industry leading customer satisfaction, quality and design with each new Rosewood home,” said Kitnick.

Rosewood Homes has neighborhoods in three prestigious locations in Arizona – DC Ranch, Vistancia and Estrella, and is in various stages of planning and development of four new neighborhoods opening in 2013 and 2014 including 33 Campbell Place in the Camelback Corridor. The exclusive, 18-home private gated 33 Campbell Place is slated to grand open late April with well-appointed homes ranging from over 2,340 square-feet to nearly 3,400 square-feet and providing authentic architectural detailing as well as highly sought after features such as: home offices, guest casitas, bonus rooms, courtyards and wine closets. Homes start in the $470s.

“Once again, Rosewood Homes is the undisputed leader in the delivery of an extraordinary customer experience,” said Bob Mirman, founder and Chief Executive Officer of Eliant.

The Eliant awards are presented annually by California-based Eliant, a customer experience management company that has been surveying buyers of new homes for 29 years. Eliant has earned an international reputation by providing a wide range of sophisticated customer experience management strategies for home builders, lenders, escrow firms, design firms and other companies interested in improving their customers’ loyalty.

Market Street Kitchen

At Market Street Kitchen, Chef Team Puts New Twists On Old Classics

“James Beard winner” is a phrase every foodie loves to hear. We flock to places where these chefs have made their marks, and if they are teamed with other locally famous chefs, we are sold. Market Street Kitchen in DC Ranch boasts just such a setup. Executive Chef Robert McGrath, the winner of a James Beard for Best Chef: Southwest in 2001, heads up the team. Known for his time at Roaring Fork and as host of “Check, Please! Arizona” on PBS, this master joined with Chef de Cuisine Matt Taylor of Noca fame to open Market Street Kitchen last September.

Market Street Kitchen's Kitchen Hideaway, Photo: Werner SegarraTucked into the unique, rustic architecture of DC Ranch, a rounded patio of distressed metal and wood extends to the street, sheltering a sunny alcove behind large windows. Inside, the industrial-meets-ranch atmosphere is comfortable and avoids the visual overload some restaurants employ to distract you from your food. The high-ceilinged room was full of natural sunlight and soft music, perfect for a business lunch. The Edison bulbs stand in contrast to photos of the original DC Ranch and wood Market Street Kitchen's Bar, Photo: Werner Segarrafurniture, but they don’t clash; in fact, the union brings a modern touch to an old classic look, a theme that carries over to the menu as well.

The food portion of the lunch menu is short, as a daytime menu should be, but the options are comprehensive and varied. Three sections help you choose: Small Plates, Sandwiches & Salads and Substantial Plates. The alcohol portion is quite large, offering four wines on tap as well as local craft beers and a well-balanced bottled wine list. Classic cocktails get subtle upgrades, like the Manhattan with its ginger-spiced orange and Bonal aperitif.

The Rustic Soup of Butternut Squash, garnished with queso fresco and pepitas, surpasses expectations. It isn’t pureed to watery oblivion; it instead has a pleasing, unusual texture and shades of flavor throughout. The queso is an excellent complement to the hint of roasted garlic. This soup is worth the trip by itself.

The Green Chile Pork Stew, highly recommended by my attentive server, isn’t served in your mother’s typical bowl-and-spoon fashion. A healthy portion of meat fills an individual cast iron dish and is draped with pepper jack, and tortillas are provided to eat taco-style. There is little liquid in the stew, but there is reason for this twist: The tender meat is already perfectly infused with flavor. The meat is braised then simmered for hours in a green chile puree to ensure the pork has soaked up as much moisture as possible, then enhanced with charred serrano.

For something lighter, try the Flatbread with Brie, topped with lightly smoked salmon, sliced apples and a touch of sage. Too much salmon or brie can overtake each other in my opinion, but the components are well-distributed here.

Another revamped classic is the Shrimp & Grits. Topped with Benton’s Country Ham, a personal favorite of mine, and served next to a pile of crisp kale with bacon and onions, this plate scored big points with me. The little details in comfort food dishes, such as shrimp and grits, can often be neglected in a busy kitchen, but there is no skimping here. A little kick of heat, flawless cheesiness and plump, fresh shrimp only improve on this southern standard.

Expect to experience the timeless at Market Street Kitchen. In both the atmosphere and the menu, McGrath and Taylor manage to reinvent the wheel without being overbearing. They aim to get your attention with unexpected nuances, and they succeed. Look to be pleasantly surprised by the dishes and drinks you thought you knew.

If you can’t do lunch, be sure to stop by for dinner and sample the Fromage and Charcuterie, highlighting Chef McGrath’s hard-won selections from around the world.

Market Street Kitchen

Where: 10825 N. Pima Rd., Scottsdale
When:
Lunch: Mon. – Sat., 11:30 a.m. – 3 p.m. ($8-$15)
Dinner: Mon. – Sun., 5 p.m. – 10 p.m.
Happy Hour: Mon. – Sat., 3 p.m. – 6 p.m. ($5 drink specials)
Contact: 480-278-7044
Online: Website | Facebook

luxuryrealestate

Luxury Real Estate Market Retrospective: 2001-2012

News archives must be bursting with stories examining real estate’s regional and national trends after one of the most dramatic events in U.S. real estate history. However, with the old adage in mind that all real estate is local, we wanted a clear retrospective of the market we serve without the sensationalism and consistently inconsistent “expert” predictions.

Real estate veterans and industry followers are no doubt aware of the outstanding work Mike Orr has done as founder of real estate research firm The Cromford Report, and his recent appointment to Director of the Center for Real Estate Theory and Practice at ASU’s School of Business. We’ve asked him to analyze specifically our luxury market since 2001.

Though it’s no secret that residential real estate is often a purchase driven by passion, our clients are increasingly concerned about home-as-investment strategy. With this in mind, we analyzed the most helpful statistics for luxury home investors in Phoenix’s Northeast Valley from 2001 through 2012. The analysis covers single family homes $1,000,000 or more in Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek, and Carefree. It is our hope that a better understanding of where we’ve been will help us know where we are going.

Annual Sales

In 2001, there were 396 sales of single-family homes listed at $1,000,000 or more. At the time, Scottsdale (182) narrowly beat Paradise Valley (170) for units sold, but Paradise Valley had a slight edge in terms of dollars spent. Sales in these two areas made up 89 percent of the entire luxury market, with Phoenix trailing at 15 sales in the Biltmore area and 13 in Arcadia. Carefree (7), Cave Creek (4), Fountain Hills (4) and Rio Verde (1) were relatively small markets then, and while they have grown tremendously since 2001, 86 percent of sales are still in either Scottsdale or Paradise Valley.

Sales volume grew slowly in 2002 and 2003, before expanding dramatically in 2004 and 2005 when it peaked at 1,563, almost four times the sales volume a mere four years earlier. Scottsdale accounted for much of the luxury sales growth, thanks to its relatively undeveloped landscape with room for new projects in DC Ranch, Troon, Grayhawk, McDowell Mountain, Pinnacle Peak, the Shea Corridor and Desert Mountain.

Although sales began to decline after the frenzied peak of 2005, luxury home sales remained reasonably buoyant when compared to the market at large, until demand fizzled out in the second half of 2007. The broader real estate market collapse, as well as the stock market collapse in 2008, would destroy confidence in real estate for years to come. Foreclosures and short sales became part of the new vernacular, peaking in 2010 and representing 33 percent of transactions that year. Total annual sales have remained at a similar level for the past five years, but distressed sales have declined to 17 percent of transactions in 2012. Total sales in 2012 were at their highest level since 2007.

Sales Pricing

The Northeast Valley luxury market appears extremely volatile when measured on a shortterm basis, due to relatively low volume and a wide range of price points. Greater accuracy is obtained by measuring pricing over longer periods, and the best way to judge pricing is typically on a per square foot basis. The next chart shows the 12-month moving average sales price per square foot, meaning each month is the average of that specific month and the 11 months preceding it.

In 2001, the luxury market was already troubled by over-supply, and took another hit after the terrorist attacks of 9/11 and resulting stock market weakness. However, by 2004 pricing improved and prices escalated quickly during 2005 and 2006.

Yet, while prices fell from mid 2006 onwards in less expensive markets, luxury market price per square foot continued climbing – despite a slowdown in sales – into the early part of 2008. However, the extreme economic recession and the failures of Bear Stearns and Lehman Brothers took their toll from May 2008 onwards; prices collapsed from the peak of $404 per square foot in December 2007 to reach $290 by May 2010, before drifting to their lowest point ($277) in February 2012. Although the decline from peak to trough was a significant 31%, this is far less than the 59% drop in average price per square foot experienced by the overall market in the Metro Phoenix area.

Pricing finally began to recover as distressed homes worked their way through the system and by the end of 2012, price per square foot had crawled back to $291 and continue to trend upward. “86 percent of sales are still in either Scottsdale or Paradise Valley” “prices collapsed from the peak of $404 per square foot in December 2007 to reach $290 by May 2010.

Supply

During 2004 and 2005, new listings grew at a slower rate than sales volume, but they continued growing in 2006 and 2007 as sales declined; projects began during what we now recognize as the peak took time to finish. This ominous imbalance led to the huge excess of inventory in 2008 when only 766 homes were sold across the entire Northeast Valley luxury market. The number of distressed listings peaked in 2009 at 21 percent of new listings before declining to 9 percent in 2012. The number of new listings in total was at its lowest in 2011; 2012 was the first year since 2007 to show an increase in inventory. By the end of 2012, supply was roughly in balance with demand.

Seasonality

The luxury market is most active during the spring, and most transactions close from March to June each year. Over the last 12 years, this period typically generates sales at a remarkable 39 percent higher rate than the rest of the year.

Summary and Outlook

Between 2001 and 2012 the luxury home market has experienced a period of great turbulence and volatility, though not quite the extremes suffered by the rest of the market. As 2012 came to a close, supply and demand are near balanced. Barring external economic shocks, the luxury market looks likely to be relatively calm and positive.

For a personal analysis of what these numbers mean for your home, please contact our office at 480-991-2050.

DMB Associates

DMB Associates Names Freericks President

DMB executive Charley Freericks today was named President of DMB Associates, Inc.

DMB Associates - Charley FreericksFreericks formerly served as a Senior Vice President and General Manager of DMB Commercial (DMBC).

“As we enter a new phase of active development with the planned launch of Eastmark, at the former GM Proving Grounds, DMB is positioning its team for the development of this exciting new community and the reemergence of development throughout its Arizona portfolio,” said Drew Brown, DMB Founding Partner and Board Chairman. “Charley brings a wealth of experience working in our communities.  We are thrilled to have him leading the company during a very dynamic period of growth for our operations.”

“I’m excited about the near- and long-term opportunities, and continuing to work with a team comprised of the most talented professionals in our industry.  Our people and our portfolio are a powerful combination.  DMB’s real estate assets represent the Valley’s finest masterplanned communities and mixed-use properties, and they are poised for significant residential and employment growth,” Freericks said.

Freericks joined DMB Associates in 1997 and has served as the general manager for Verrado and DC Ranch, and as the senior executive in charge of Marley Park and One Scottsdale. His leadership of DMBC in most recent years resulted in DMB protecting and strategically positioning its portfolio of commercial assets, which today are nearly fully leased.

Freericks is active in industry associations and community groups, currently serving Fighter Country Partnership (Luke Air Force Base) as Board Chair since 2006.  He is a full member of the Urban Land Institute, an active member of NAIOP and has served as Chairman for Valley Partnership and the Trust for Public Land (TPL) Arizona.  He’s recognized in the industry for his leadership, market knowledge, and expertise in land and commercial development.

Prior to joining DMB, Freericks served as President of Talley Realty Group after starting his career with Grubb & Ellis.

David Bruner, DMB’s COO, is remaining with DMB through an orderly transition period and returning to his long-time role as investment partner with DMB Circle Road. Bruner started his partnership with the Company more than 20 years ago, working with the partners on a number of strategic land investments and commercial development opportunities.  Three years ago, Bruner brought his real estate and financial expertise to DMB and helped position the Company for the next development cycle.

“A long-time Valley entrepreneur and value-add real estate veteran, David will continue to partner with DMB Associates through his family of companies,” Brown said.

DMB Associates, Inc., will continue to focus on its legacy community projects and partnerships, including DC Ranch, Verrado, Marley Park and Sendero, the newest community within Rancho Mission Viejo in southern California, and will continue to manage its commercial/mixed-use portfolio including One Scottsdale, Centerpoint on Mill and Market Street.  The 3,200-acre Eastmark property, DMB’s newest master-planned community located in the heart of the East Valley, is underway on its first phases of development scheduled for opening in 2013.

Stephen Schwanz

Busy “Angel,” Stephen Schwanz, Impacts Scottsdale Youth

Busy “Angel,” Stephen Schwanz, Finds Time to Impact Scottsdale Youth

It’s a little-known fact, but in 1995, Scottsdale got itself an angel.

Stephen SchwanzIt was that year that DC Ranch’s own Stephen Y. Schwanz finished his term as president of the Executive Council for the Boys & Girls Clubs of Metropolitan Phoenix, which is now EC70, and turned his sights to the Boys & Girls Clubs of Greater Scottsdale.

Eager to impact the more than 16,000 children serviced by the organization, he jumped in with an immediate hole-in-one for the Clubs – literally – developing a celebrity fundraising golf tournament that is today known as the Mark Grace Celebrity Golf Invitational. Over the years, the event has helped to raise more than a million dollars for the Boys & Girls Clubs while exposing the organization’s programs to sports stars from the Arizona Diamondbacks, Phoenix Suns, Arizona Cardinals, Chicago Bears, San Francisco Giants and many more.

But Schwanz was just getting started.

His next order of business – Vine & Dine, a fundraiser held each year at the Scottsdale Galleria with food and wine samplings. Within a few months, Schwanz re-imagined the event into what is now Uncorked & Unplugged, one of the premiere taste events in the state, offering guests a variety of gourmet foods, three stages of live entertainment, and the opportunity to sample premium wines and spirits as well as domestic and imported beers.

And Schwanz is not done yet.

Today, Schwanz has taken a leadership role as chairman of the Boys & Girls Clubs of Greater Scottsdale’s annual giving campaign, “Angels for Kids, Mentors for Life.”

“This campaign provides necessary resources for unique learning experiences while instilling a sense of belonging and impact,” said Schwanz. “The campaign’s theme reflects the strong and valuable mentoring that members receive from our trained staff and dedicated volunteers.”

Due to the generosity of key donors helping to cover the costs of this campaign 100 percent of any donor’s investment in Angels goes directly to the more than 100 Club programs.

Just some of the key programs include:

  • Healthy Habits, which empowers youth to eat right covers the power of choice, calories, vitamins and minerals, the food pyramid and appropriate portion size.
  • MethSMART, which is aimed at the prevention of methamphetamine abuse.
  • Passport to Manhood, which teaches responsibility while reinforcing positive behavior in male Club members ages 11 to 14.
  • SMART Girls, which is a small-group health, fitness, prevention/education and self-esteem enhancement program designed to meet the developmental needs of girls ages 8-12 and 13-17.
  • Money Matters, which teaches financial responsibility and independence among middle and high school Club members by building their basic money management skills.
  • Movie Making, which teaches the movie making production process from screen writing, story board creation, set and costume design to the actual acting, directing, filming, and then editing of the productions.
  • NetSmartz, which is an internet safety program conducted for new members before they use the computers in our technology centers.
  • Torch and Keystone Clubs, which are small group leadership and service clubs for youth ages 11-13 and 14-18, respectively.
  • Leaders In Training, which allows members ages 11-15 to volunteer and learn basic job responsibilities and work habits during our summer months as unpaid staff assistant.
  • Be Great Graduate, which is focused on academic success, on-time grade progression and ultimately high school graduation.

The focus of each program, all made possible with the help of Schwanz and Angels for Kids, is to help kids in Greater Scottsdale develop:

  • Positive self-identities
  • Scholastic, career, social, emotional and cultural competencies
  • Desire to remain involved in their community
  • Health and well-being
  • Moral compass

For more information about how to become a Scottsdale Angel like Schwanz, please visit bgcs.org/get-involved/angels-for-kids.