Tag Archives: Harvard Investments

Harvard-LPC-Riverview, WEB

Harvard, LPC partner on final Riverview Point phase

Harvard Investments announced today that it will partner with Lincoln Property Company (LPC) to develop the second and final phase of Riverview Point, a Class-A office project directly adjacent to the 250-acre Mesa Riverview mixed-use property in Phoenix’s booming Southeast Valley.

Harvard Investments purchased the 19.55-acre land parcel for the new project from Montana Avenue Capital this week. In conjunction with LPC, Harvard Investments will build two new, Class A office buildings on the site: a three-story, 150,000-square-foot building and a two-story, 105,000-square-foot building. LPC will direct development of the project. It will also market the opportunity to build-to-suit prospects and anchor tenants.

“This project represents all of the things that make the Southeast Valley so exceptional–retail, dining, entertainment, and corporate environments, all linked by some of the state’s best educational assets and busiest transportation corridors,” said Harvard Investments President Craig Krumwiede. “These are key elements in an investment project, and they are what will make this property a strategic opportunity for companies looking for that next great address.”

“We’re operating within an area that continues to show—and grow—its ability to attract amenity-driven office tenants and make a positive, notable impact on greater Phoenix’s economic recovery,” said Lincoln Property Company’s Executive Vice President David Krumwiede. “This project will be no exception. Its timing and location are perfect for a development that will anchor this market for years to come.”

Dave Carder, Luke Walker and Eric Schultz, from the Phoenix office of CBRE, brokered the land transaction and will assist with the project’s marketing and leasing efforts. The Davis Experience serves as the project architect and Wespac Construction serves as the general contractor.

“We are very excited to work with Harvard and Lincoln on this new endeavor,” said Carder. “Momentum and demand for large blocks of Class A office space have returned to the office sector in force, and along with it great opportunity to create exceptional next-generation business environments.”

The new Harvard-LPC development is located on the borders of Mesa, Tempe and Scottsdale, just six miles east of Phoenix Sky Harbor International Airport and accessed via Loop 101 at Rio Salado Parkway and via two full-diamond interchanges along the Loop 202 at Dobson and Alma School roads. It is directly east of Mesa Riverview, a 1.3 million-square-foot retail, hospitality and entertainment complex. It is also less than one mile from the new Cubs Spring Training Facility and the newly reconfigured Riverview Park, which includes an innovative playground, six-acre lake and pedestrian path that connects the park and lake to the stadium.

When completed, the new Harvard-LPC office buildings will join an existing Hyatt Place Hotel, two existing, two-story office buildings that are approaching 90 percent occupancy, and a planned 180-room, luxury brand Sheraton Hotel scheduled to open in March 2015 and including amenities such as full-service restaurants, bars, swimming pool, fitness facility and more than 30,000 square feet of meeting and event space.

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Meet the leaders in Valley Partnership

Much of the Valley’s growth would not be possible without the partnerships and advocacy supported by nonprofit Valley Partnership.

Chris-AnaradianChris Anaradian
Development Services Director, Town of Queen Creek
It’s Queen Creek’s time in the sun, boasts the town’s Development Services Director Chris Anaradian. Permit activity is “out of sight” and he cites his Valley Partnership involvement as a key ingredient while the town grows into its own.

“The situational awareness that Queen Creek gains from Valley Partnership is essential,” says Anaradian, who sits on Valley Partnership’s Board of Directors. “Knowing the current areas of focus and growth that our private partners are focused on helps us plan and build a better government and community for all. Having a voice when new legislation and alliances are being formed helps us better prepare to fund and administer the services our customers have come to expect and deserve.”

Anaradian is the former community development director and development services manager for the City of Tempe. He managed the 220-acre Tempe Town Lake and 500-acre Rio Salado Project during their initial five years. He also helped modernize multiple permitting and regulatory agencies and advocated for many developer-friendly shifts within the city, including those that precluded the Tempe light rail. Anaradian now has watched Queen Creek come through the economic recovery.

“It is now Queen Creek’s time in the sun, and so many opportunities lie ahead,” says Anaradian. “Our wash and trail system is poised to unite huge swaths of our community and become a defining geographic feature of life in Queen Creek. Large tracts of undeveloped hillside residential property are into entitlement, some of the last and most majestic in the Southeast Valley.”

Tim-BrislinTim Brislin
Vice President, Harvard Investments
Tim Brislin, an on-and-off member of Valley Partnership since 2004 who currently sits on the Board of Directors, has used organization’s networking opportunities to broaden Harvard Investment’s exposure and partnership options.

Harvard Investments is a land investment and masterplanned community development firm.
“Harvard is laser focused on executing its vision and plans for its masterplanned communities in Mesa, Queen Creek/San Tan Valley, the West Valley and in Prescott,” Brislin says. “Our Mesa project, Cadence at Gateway, is very exciting and we are making great progress on our first residential phase, as well as getting traction on our retail and high density residential components much earlier than anticipated.”

In 2007, Brislin welcomed his first son and ended his “five-year job interview” with Harvard Investments.

“In both cases I was at the starting line staring at a wide open track. Today, in addition to my wonderful wife and two boys, and thanks to Harvard’s long standing market reputation, the faith of our partners and hard work, we built a high quality portfolio of assets that we will harvest for years to come.”

What many don’t know about Harvard is that its Canadian parent company, The Hill Companies, is a major commercial developer of office and retail, Brislin says. The company has expansion plans to include industrial, office and multi-family assets.

“Our current planning efforts are highly focused on demographic trends locally and nationally and how we plan our communities for the long-term based on who are buyers are, what products they want and what type of community they will embrace,” Brislin says. “There are shifts going on that affect all aspects of the real estate development business.”

Kristina-LockeKristina Locke
Marketing/Business Development Manager, Hoskin Ryan Consultants, Inc.
Looking for the latest news on the golf tournament? Kristina Locke sits on the committee for two-year member Hoskin Ryan Consultants, Inc. Locke comes to Valley Partnership with more than a decade of marketing, advertising and business development achievements for Hoskin Ryan and its clients.

Hoskin Ryan finished off 2013 with four new clients. Locke is confident being a member of Valley Partnership will lead to meeting more potential clients.

“It does take a little while for people to get to know you and trust your firm,” she says. “We have formed great relationships and were educated on many different industry trends.”

One particular trend is healthcare. In 2013, Valley Partnership held a healthcare Friday Morning Breakfast attended by 250 members with speakers from Banner Health, Dignity and smaller medical office building develpers.

Jenifer-Davis-LuntJenifer Davis Lunt
Partner, Davis Enterprises
Davis Enterprises joined Valley Partnership last January — a big step for the closely held family business. Though Davis is one of the smaller development companies in the Valley and has a long history in the Valley, it has been a two-year sponsor of the organization. Davis Enterprises is actively involved in the identification, acquisition, development and management of real estate properties in Arizona.

Jenifer Davis Lunt became managing partner following an award-addled tenure at CBRE, where she became the first female at the Phoenix office named “Rookie of the Year,” for selling more than 100 properties totally more than $675M in value and 2.5MSF. In 2005, Davis Lunt was named CBRE’s No. 1 Investment Broker. The following year, her father retired from Davis Enterprises and named her partner and principal of a business her grandfather started.

“We are most proud of contributions Davis has made to the revitalization of Central Phoenix including the SWC of 7th Ave & McDowell, 4700 N. Central and Melrose Marketplace,” Davis Lunt says. The company is looking forward to the redevelopment of 21st Avenue and Deer Valley Road and 1015 S. Rural Rd., near ASU’s main campus.

Along those lines, Davis Lunt says a trend or issue she would like to see addressed by Valley Partnership is how the City of Phoenix can become more pedestrian, rail and bike dependent to allow for more retail and housing development in the urban core.

Rusty-MitchellRetired Lt. Col. Rusty Mitchell
Director of Luke Air Force Base Community Initiatives Team
Rusty Mitchell, director of Luke Air Force Base Community Initiatives Team, has been an ex-officio board member at Valley Partnership since 2005 and is the primary liason between the Air Force base, nine municipalities, Maricpa County and state officials.

“(Valley Partnership) has enabled me to network with major developers and discuss development issues in areas that we conduct flight operations,” he says. “This communication enables developers and landowners to be better informed of state statutes for compatible land use before they obligate time and money to a particular project.”

The partnership has been mutually beneficial. Before retiring, Mitchell served 22 years in the Air Force as a fighter pilot. It is through his community involvement and history with the Air Force that Mitchell has managed to bring enduring economic development to the base and Arizona.
“The over-whelming community support of the mission of Luke AFB has been recognized by the senior leadership of the Air Force and was a significant contributing factor in its selection as the largest F-35 training base and the recipient of an eventual 144 F-35’s,” he says.

The selection of Luke to be the primary pilot training center for the nation’s most advanced fighter will ensure the existence of Luke AFB for many decades to come, Mitchell says.
“Not only is Luke critical in the nation’s defense, producing the world’s greatest fighter pilots, but the fact that it contributes approximately $2B to the state’s economy every year will continue to infuse the state with much needed economic power.”

Talking Rock Ranch Compound, Land Advisors

Joint Venture to Expand Talking Rock in Prescott

The Scottsdale-based firm Land Advisors Resort Solutions, which is a division of the Land Advisors Organization, recently facilitated a joint venture partnership in Prescott.

The venture is between Talking Rock’s existing developer, Harvard Investments, and a new development and equity partner, The True Life Companies of San Ramon, Calif., to further the expansion of the community, its building program and new amenities as part of a long term development strategy. Talking Rock is a fully-amenitized, award winning golf course community originally developed by Talking Rock Land, LLC, an entity of Scottsdale-based Harvard Investments. The current real estate offering at Talking Rock includes custom homesites, custom homes, low maintenance Ranch Cottages and new model homes by Geoffrey Edmunds. True Life Companies plans to increase new home construction, new model home designs and new golf course custom homesite releases over the next 24 months.

Ben Jenkins, principal of LARS, said the recent transaction represent the firm’s diverse resort community asset brokerage and resort retail sales and marketing services.

Under the leadership of Jenkins, Land Advisors Resort Solutions has generated more than $50M in resort real estate sales since 2012. The firm’s roster of national clients include FireRock Country Club in Fountain Hills, Ariz.; Quintero Golf and Country Club in Peoria, Ariz.; Cornerstone Club near Telluride, CO; Victory Ranch in Kamas, Utah; Black Rock in Coeur d’Alene, Idaho; Hale Mua in Maui, Hawaii; KIP Lake Keowee near Greenville, SC; and Boot Ranch in Fredericksburg, TX.

35th Avenue Rendering.

Legacy Capital Finances Industrial Property for Harvard Investments

Legacy Capital Advisors recently financed the sale of 2 N. 35th Avenue and 36 N. 35th Avenue in Phoenix, an industrial distribution property. The two buildings are approximately 100,000 SF and were built in 1980.The property was sold to H35 Building LLP, an entity formed by Harvard Investments Inc., a Scottsdale-based real estate investment and development company. This was Harvard Investments first commercial real estate purchase in the Valley . The seller was Lindquist Development Company, Inc., an Oregon Corporation. The sales price was $3,050,000, which equates to $32.48 per square foot.

Securing $2,415,000 in non-recourse bridge financing, the sponsor plans to complete an extensive renovation of the project and lease the vacant building. Steve Grossoehme of Rein & Grossoehme Commercial Real Estate negotiated the transaction. David Krumwiede, Executive Vice President of Lincoln Property Company (LPC), put the deal together with Harvard and LPC will handle leasing and property management.

Facing a firm deadline with the purchase contract, we were able to quickly identify the best financing source and close the acquisition loan in only 24 business days from loan application.” stated Jim Pierson, Principal at Legacy Capital Advisors.