|GPE Commercial Advisors announced the sale of a 3,756 SF medical office condo located at 10750 W. McDonald Rd., Ste. F600 in Avondale. The property sold for $750,000 ($192/SF).Senior Vice President Bret Isbell represented the seller, McDowell Asset Management, L.L.C.. Doug Searle of Strategic Commercial represented the buyers, Paul and Linda Gentilotti. Sheila Hunter with First American Title closed the transaction.|
GPE Commercial Advisors, one of the oldest privately owned commercial real estate firms in Arizona, secured the sale of a 2,800 SF medical office condo located at 10750 W. McDonald Rd., Ste. B210 in Avondale. The property sold for $700,000 ($250/SF), at an 8.2% CAP rate on current income. Rubystone, L.L.C. closed escrow with a 1031 Exchange on the condo.
Senior Vice President, Bret Isbell represented the Seller, McDowell Asset Management, L.L.C.. Tom Kuffler of Civic Asset Management, Inc. represented the Buyer.
The condo is currently occupied by Select Medical Physical Therapy, with a multi-year lease.
GPE Commercial Advisors, one of the oldest privately owned commercial real estate firms in Arizona, secured the sale of a 9,816 SF one-story school located at 812 South 6th Avenue in Phoenix. The building sold for $615,000.
Executive Vice President, Nicholas A. Pelusio, and Senior Vice President, Kevin Helland represented the seller, Marie Maros Siblings, LLC. Benson Sainsbury with InSite Educational Facilities represented the buyer, Vista College Preparatory, Inc.
Vista College Preparatory has been in the building since 2013 and purchased the building in order to expand the school. Vista College Prep is a free charter school with a longer school day (7:40 am – 4:00 pm), small class sizes, and teachers who firmly believe that all students can achieve academic success if they have access to a high quality education.
Dominic M. Perry, CCIM, Vice President at GPE Commercial Advisors has been appointed to the City of Mesa Economic Development Advisory Board. The Economic Development Advisory Board acts as the advisory board to the Mesa City Council on matters pertaining to economic development, including goal setting, strategic planning, marketing and business recruitment, retention and expansion.
“We look forward to Mr. Perry joining the City of Mesa Economic Development Advisory Board,” Bill Jabjiniak, City of Mesa Economic Development Director. “His wealth of knowledge and experience as a real estate broker focused on several key industry sectors including tenant representation will be a welcome addition to the Board.”
As mentioned on the City of Mesa’s website, “Mesa residents are invited to participate in the process of City of Mesa government. One of the most effective ways to provide input is through service on one of the City’s citizen advisory boards and committees. Through this service, civic-minded citizens become involved in their local government and make recommendations to the Mesa City Council. The City, in turn, benefits from the knowledge, experience and expertise of citizens.”
“On behalf of all of us at GPE we are proud that Dominic has been selected to serve on the City of Mesa Economic Development Advisory Board. His years of experience will bring tremendous value to the City. And as a resident of Mesa I am confident that the Board will greatly benefit from his knowledge.” David M. Genovese, President of GPE Companies.
GPE Commercial Advisors announced the addition of Robert Howe, senior vice president, as the newest member of its brokerage team on Monday.
The senior housing (ILF, ALF, MCF, SNF) market is Howe’s brokerage specialty. He has been actively involved in senior housing since 2002, but has owned, managed, developed and brokered commercial real estate since 1974. Howe has an engineering degree, MBA, CCIM designation and other training.
“I moved to GPE,” he says, “because GPE’s healthcare group represents one of the most important resources for the senior housing market in this region.”
GPE Commercial Advisors welcomed Laurie Sandau, Associate Vice President as the newest member of its brokerage team. Sandau brings more than 11 years of local and national commercial real estate experience with Lawyers Title NCS. Her expertise in marketing and business development combined with her knowledge of the title and escrow process brings a fresh perspective to the brokerage.
Sandau’s previous experience working with real estate transactions gives her a unique understanding of all elements involved in successful closings. Her practice in facilitating complex escrows and coordinating lenders, attorneys, and buyers/sellers, will certainly benefit her capabilities as a broker, says a GPE spokesperson. Sandau’s extensive network covering all aspects of the industry will also prove to be a tremendous benefit to her clients, GPE reports.
Sandau will focus on Investments, office, medical office sales & leasing as well as tenant Representation. She will also team on a number of projects with Julie A. Johnson, Alexandra Loye and Bret Isbell. Please join us in welcoming her to our team.
Recently, more and more articles are emerging with titles and taglines that shed light on commercial real estate’s male dominated workforce, causing us to acknowledge that the old ideology is still part of our industry today.
GlobeSt.com published an article in April 2014, entitled “Why Women in Commercial Real Estate are job hunting.” The author, Carrie Rossenfeld, has worked in commercial real estate for more than 30 years and stated that during this time very little has changed when it comes to involving women in our industry. According to various other news sources, only 20 percent of the commercial real estate workforce are women, and 57 percent of those women are actively involved in a job search. I believe the percentage of women working in commercial real estate in the Phoenix Metro area is likely well below the 20 percent average.
Why are female CRE brokers actively seeking a new brokerage?
1. Bypassed for promotion
2. Lack of mentorship or support from their organization
3. Fewer opportunities offered to them
Like the Globe Street author, I have been in commercial real estate in the Phoenix area for more than 30 years and I agree that little has really changed. However, we here at GPE Commercial Advisors have made a concentrated effort over the years to change that reality. Fifty percent of our brokers are women and well over 50 percent in our company are women. I believe we are the only local firm to have an all-female healthcare investment group that has achieved great success over the years. Our corporate board of directors has five positions, three of which are held by women. We buck the trend in our industry and are again ranked number one this year by Ranking Arizona for commercial brokerage in our size category.
The impact women have had on our firm and in the Phoenix marketplace over the years is proof that they have a significant role in this industry. The women at GPE deserve, and in fact do receive, the recognition many women have failed to garner from our industry as a whole. While other commercial real estate firms lag behind, GPE is proud to be ahead of the curve when it comes to seeing the importance of female brokers in our business.
GPE Commercial Advisors has secured the exclusive leasing assignment for a new office/medical project being developed by The Mahoney Group in one of Phoenix’s highest-growth areas. The Mahoney Group, Arizona’s largest independent Insurance agency, will be relocating one of their Phoenix offices to the new project.
This new Class A building will be located on the northeast corner of 19th Ave and Loop 101—ideally situated between Route 101 and the I-17, within one mile of the John C. Lincoln Deer Valley Hospital.
“There is a substantial need for large contiguous space in this area for medical and professional tenants,” said GPE Senior Vice President Alexandra Loye. “The freeway frontage, visibility and signage opportunity will attract the highest quality users to this project. Located directly off the 101 freeway, with easy access to all areas in the Valley as well as close proximity to the hospital make it the perfect location.”
The two-story, 47,000 square foot Mahoney Professional Building will be completed by September, 2015. Alexandra Loye, Bret Isbell and Julie Johnson are the listing brokers on this premier project.
Johnson said the Deer Valley region has a high demand for physicians that will only increase in the near future. “With the proximity to the John C. Lincoln Deer Valley hospital campus as well as the attractive demographics of the area this is an excellent location for physicians to locate,” she said. “And as a fast-growing area with many new families, there will be increasing need for family practitioners and OB/GYNs in addition to other specialties.”
“This building is unique and exciting,” said Loye. “There has been virtually no new spec construction over the last few years, and physicians’ space requirements have changed. This new project combines large floor plates, technology and the data infrastructure that doctors need to be efficient and effective in this changing healthcare environment.”
GPE Commercial Advisors secured the sale of a 64,375 square foot, 6.95 acre property at 4039 East Raymond Street in Phoenix. The property sold for $2,895,000.
Built in 1974, the property was most recently occupied by River of Life Church. The new owner purchased the property for investment purposes and intends to reposition the property for lease up.
Bret Isbell, Senior Vice President of GPE Commercial Advisors represented the seller, Goldstar Trust Company. Ken McQueen of Lee & Associates represented the buyer, Avalon Pacific-Santa Ana, L.P.
A landmark in Downtown Scottsdale since 1972, imagine the view from this 11-story, Class A high-rise, formerly known as the Camelview Office Building at 6900 E. Camelback Rd.
With its new designation of Camelback Tower, this exclusive property, connected to Scottsdale Fashion Square, has recently been reinvigorated, attracting new tenants to make a distinctive statement towering above Scottsdale.
In its original day, this property featured the 11th floor as a 6,600 SF penthouse complete with pool often used for social gatherings and offering the best views in all of Scottsdale. When the building was eventually connected to Scottsdale Fashion Square, it enticed tenants to work and shop from the same location.
A remodel in 1997 allowed the property to retain and attract new tenants for almost 10 years. At which point, a once thriving and sought after location, suffered from the loss of tenants and deferred maintenance with the downturn of the real estate market in 2006/2007.
When West Coast Capital Partners acquired the building out of foreclosure in August 2011, occupancy was hovering around 40% with repair and maintenance vital to bring it back to life.
Within a year, a major transformation took place and according to Trisha A. Talbot, CCIM, Senior Vice President of GPE Commercial Advisors who has the leasing assignment along with Kathleen M. Morgan, CCIM, “Camelback Tower is a prominent location for businesses that want to be at the hub of economic growth in the Phoenix area for the long-term.”
Added Greg Leverton of GPE Management Services, who serves as the property and construction manager for this project: “This once exciting and vibrant building has been reborn and has risen like the mystical Phoenix.”
Today, this property is approaching 80% occupy with several new tenants ready to tower above downtown. Major tenant improvements and building remodeling include new elevators, upgrades to the HVAC and electrical systems and contemporary modern finishes.
This along with all new landscaping and valet parking has returned this building to an exciting and functional part of downtown Scottsdale. New tenants such as Searsucker restaurant, Dermatique, LTD, SMI Imaging, LLC, and others now call Camelback Tower home.
For more information on this revitalized Scottsdale building, please contact GPE commercial advisors or GPE Management Services at (480) 994-8155.
GPE Companies reports the following transactions:
>> Glendale: Parker Property Management, LLC purchased 7,448 SF for $640,000 at 17431 N. 71st Drive. Bret Isbell and Russell Fine represented the seller.
>> Scottsdale: MD 7861 E. Gray Road, LLC purchased 18,492 SF for $1,149,980 at 7861 East Gray Road. Tim Phillips represented the seller.
>> Phoenix: Lee Engineering, LLC purchased a 4,386 SF suite at Whitton Place Condominiums for $325,000, located at 3610 N 44th Street. Bret Isbell and Russell Fine represented the seller.
>> Tonopah: Toby Yaltho purchased 437,006 SF of land (parcel # 506-35-023L). Kevin Helland and Nicholas Pelusio represented the seller.
>> Phoenix: The Law Offices of Brian J. McNamara purchased a 2,772 SF suite at Whitton Place Condominiums for $205,300, located at 3610 N 44th Street. Bret Isbell and Russell Fine represented the seller.
>> Scottsdale: A marketing company leased 2,691 SF at Hayden Professional Park, 3200 N. Hayden. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Phoenix: A chiropractor leased 1,942 SF at Desert Fairways, 8765 E. Bell Road. Russell Fine and Bret Isbell represented the landlord.
>> Phoenix: A consulting firm leased 2,251 SF at 4425 N 24th Street. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Scottsdale: A mortgage company leased 3,805 SF at Camelback Tower, 6900 E. Camelback Road. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Scottsdale: An insurance agency leased 839 SF at Hayden Professional Park, 3200 N. Hayden. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Chandler: A marketing company leased 1,516 SF at Palm Plaza, 3150 N. Arizona Avenue. Trisha A. Talbot, CCIM and Kathleen M. Morgan, CCIM represented the landlord.
>> Scottsdale: An administrative office was leased 3,377 SF at Camelback Tower, 6900 E. Camelback Road. Trisha A. Talbot, CCIM and Kathleen M. Morgan, CCIM represented the landlord.
>> Chandler: A speech therapy group leased 793 SF at Palm Plaza, 3150 N. Arizona Avenue. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Chandler: A software development company leased 1,131 SF at Palm Plaza, 3150 N. Arizona Avenue. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Chandler: JP Rock of Ages, LLC leased 675 SF at Palm Plaza, 3150 N. Arizona Avenue. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Sun City West: A financial services company leased 452 SF at Sun City West Professional Office Building, 13540 W. Camino del Sol. Russell Fine, Bret Isbell, and Julie A. Johnson, CCIM represented the landlord.
>> Peoria: Enhance Your Beauty, LLC leased 1,005 SF at Thunderbird Landing, 13644 N 75th Avenue. Linda Robbins, CCIM represented the landlord. The property is now 100% leased.
>> Mesa: A Woman’s Place leased 3,628 SF at Power Medical, 215 S. Power Road. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Mesa: A urologist leased 3,328 SF at Mountain Vista Medical Office Building, 10238 E. Hampton Avenue. Nicholas Pelusio and Kevin Helland represented the landlord.
>> Phoenix: A trucking company leased 942 SF at LeCota Office Park, 706 E. Bell Road. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Scottsdale: A mobile marketing company leased 8,485 SF at Hayden Professional Park, 3200 N. Hayden Road. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Phoenix: Financial consultants leased 5,845 SF at 4425 N. 24th St. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Scottsdale: Alliance Healthcare Partners Management, LLC leased 3,725 SF at Camelback Tower, 6900 E. Camelback Road. Trisha A. Talbot, CCIM and Kathleen M. Morgan, CCIM represented the landlord.
>> Scottsdale: A transportation and logistics company leased 1,366 SF at Hayden Professional Park, 3200 N. Hayden Road. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord.
>> Phoenix: Starbuck’s Corporation leased 2,350 SF at Arcadia Plaza, 2802 E. Indian School Road. Kathleen M. Morgan, CCIM and Trisha A. Talbot, CCIM represented the landlord along with James DeCramer and Kalen Rickard of Strategic Retail Group.
GPE Commercial Advisors welcomes Linda Robbins, CCIM, Senior Vice President as our newest member of the brokerage team. Linda brings over 30 years of commercial real estate experience throughout the Metro Phoenix area. She specializes in Seller, Buyer and Tenant representation for office, retail, medical and industrial users.
Her CCIM designation and extensive background in commercial lease analysis, provides her with the skills to meaningfully analyze, negotiate and remediate on behalf of her clients.
Prior to joining GPE, Linda was with R.O.I. Properties where she worked with a number of banks in the disposition of bank owned assets as well as investment sales. Linda also worked with Coldwell Banker Commercial Metro Central and Logan Commercial Advisors. Her past clients include Hyatt, Microsoft and Devita International to name just a few in a variety of industries including staffing, hospitality, medical and legal.
GPE Commercial Advisors named Marcela Houser, CCIM, the newest member of the brokerage team as Associate Vice President.
Houser brings more than 10 years of experience in commercial real estate. She has worked for companies such as Coldwell Banker Commercial, ROI Properties and Colliers International in Mexico.
She holds qualifications of CCIM (Certified Commercial Investment Management) and has a Bachelors Degree in Marketing. She was awarded in 2008 top 10 producers of the year. Her bilingual skills allow her to provide a broader service and her financial analytics facilitate decision making for her clients.
Houser specializes in retail, gas stations and office acquisition, disposition and investments. Having worked in the past in a VP position managing commercial portfolios in several states has allowed her to get a deeper understanding of real estate and has given her a better sense of how to meet her clients’ needs. Her experience, negotiation and marketing abilities have allowed her to successfully close complex transactions.
She has also been a volunteer for the Volunteer Lawyers Program (VLP) since 1995.
Newsmakers in Arizona Real Estate
Newsmakers in the commercial real estate industry are featured each issue. Here are the movers and shakers for May – June 2011:
Shelly Cramer joined GPE Commercial Advisors as associate vice president in sales and leasing, with an emphasis in dental and veterinary properties. Her past professional experience includes positions at CB Richard Ellis and Julien J. Studley.
Trisha Ramsey joined GPE Commercial Advisors as an associate in sales and leasing. Ramsey secured her broker’s license in 2010 after acquiring more than a decade of experience in B-to-B sales and procurement for the semiconductor and furniture industries.
Sundt Construction promoted Wayne Einbinder to vice president to spearhead the company’s new special projects division. The recently launched division will focus on large-scale projects ($100M or more) with external joint-venture partnerships. Einbinder will be responsible for the management, identification, pursuit and acquisition of special projects.
Mike Merk joined Grubb & Ellis as senior vice president, Office Group. Merk joins Grubb & Ellis from BAX Global Inc., where since 2002 he was director of real estate, responsible for the company’s 4.1 MSF North American office and industrial portfolio.
Justin Miller joined the Alter Group as vice president in the firm’s Scottsdale office. Miller’s focus will be on the planning, marketing and development of several Phoenix-area business parks.
Brian Woods was promoted to vice president-Retail Properties at Colliers International. Woods joined Colliers in 2003, and specializes in leasing regional power centers and represents national retail tenants throughout Arizona. Developers and landlords represented include Vestar Development, Nexus Development and Vertical Holdings.
Eight real estate professionals from the CB Richard Ellis Phoenix office are ranked among the company’s top 225 producers in North America. Tom Adelson, Brad Anderson, Tyler Anderson, Sean Cunningham, Jim Fijan, Rob Marsh, Jim Trobaugh and Bryan Taute are among the list of exceptional performers in 2010.
John Glassmoyer and Neil Glassmoyer joined Colliers International’s Scottsdale office as senior vice presidents specializing in investment sales. John has more than 30 years experience in sales, leasing and development of industrial, office and retail properties. Neil has more than 20 years experience as an institutional investment consultant.
Mark Seale joined the office division at Cassidy Turley BRE Commercial. Seale joins the company with more than 26 years of commercial real estate experience. Seale previously worked at Lee & Associates, where he was part of the firm’s Top Producing team in 2008, 2009 and 2010.
Dan Pierce was named senior vice president at Kitchell. He joined Kitchell 30 years ago and has been involved with the construction of numerous hospitals and healthcare facilities throughout the Southwest.
Arizona’s Finest Lawyers honored five members of the firm of Jennings, Haug & Cunningham. Those honored include Bill Haug, Curtis Jennings, D. Kim Lough, Chad Schexnayder and Mark Barker. The five have more than a century of combined experience in various areas of commercial real estate law.
Berens, Kozub & Kloberdanz PLC has changed its name to Berens, Kozub, Kloberdanz & Blonstein PLC, adding 3-year member Marc Blonstein to the firm’s name. Berens, Kozub, Kloberdanz & Blonstein PLC is a boutique commercial and residential real estate and business law firm. It has been in business in the Valley since 2001.
Land Advisors Organization in Scottsdale added Ryan Semro, Bret Rinehart and Ben Heglie to its firm as land specialists. Semro, Rinehart and Heglie’s previous roles include stints with Grubb & Ellis, Hogan & Associates, and most recently as principals with Lee & Associates.
Rider Levett Bucknall promoted John Jozwick (general counsel) to senior vice president and Scott Macpherson (principal) to vice president. Jozwick also was elected to the Rider Levett Bucknall North American Board of Directors.
Bryan Taute was promoted to senior vice president and Greg Mayer and Scott German were promoted to vice president at CB Richard Ellis. Taute is involved in all aspects of the commercial office market, including landlord and tenant representation, investment and user building sales, land sales and ground-up development. Mayer specializes in the representation of institutional and private owners of commercial office buildings in Metro Phoenix. German represents corporate clients in site selection and lease negotiations in Metro Phoenix and the Southwest.
Joe Snell, president and CEO of Tucson Regional Economic Opportunities (TREO) was named co-chair of the Economic Development Committee of the Arizona-Mexico Commission.
Daniel Dobric joined Grubb & Ellis’ Office Group as senior vice president. He will team with Michael Myrick, vice president, Office Group, who joined the company in July. Dobric joins Grubb & Ellis with 29 years of commercial real estate experience. He previously spent five years with BRE Commercial as a senior vice president.
Valerie Kelly joined Kitchell as director of Client Services for the Healthcare Division. A 20-year veteran of the local construction and development community, Kelly most recently was with McCarthy Building Companies, where she led business development efforts for the Southwest region.
Colliers International promoted Cindy Cooke to executive vice president-multifamily investments. Cooke has 30 years experience specializing in multi-family investments and leads an investment team that consists of 12 Colliers professionals throughout the Western U.S.
Chris Gerow, senior vice president at NAI Horizon’s Phoenix office, was honored by NAI Global with its Council Appreciation Award.
A Few Facts About Kevin Helland
Senior Vice President
GPE Commercial Advisors
Born at RAF Bentwaters, Woodbridge Suffolk, England
Attended Northern Arizona University
With GPE for 1 year; 20+ years in Arizona commercial real estate
Sports Team: Anything Arizona
Leisure Activities: Time with family, golf, fishing
Destinations: Been to Napili Bay, Maui, Hawaii (Great snorkeling in nearby Honolua Bay); Costa Rica; Norway (Yes, I am a Viking); Brainerd, Minn.; Australia. I would like to see France, Spain and Italy (visit villages and eat, drink, eat, drink).
Aside from my family, I am especially proud of graduating from graduate school with distinction while working and raising a child as a single parent.
Ask me in a few months and I can divulge such an accomplishment. It is in the works.
Helland is an active supporter of West Valley Community Little League; he has coached Arizona youth soccer; and is a supporter of the NAU Alumni Association.
What would people be surprised to know about you?
I am a classically trained chef. I worked my way up the culinary ladder and eventually became executive banquet chef at the Wigwam Resort. I still dabble in gourmet cooking and especially enjoy preparing Pacific Rim cuisine.
Received: Be humble, nimble
To Share: Establish a great sense of customer service. Be honest, forthright and diligent in representing your clients. Be known for something.