Tag Archives: J. Daryl Lippincott

Frank Lloyd Wright, AZRE Magazine May/June 2011

Del E. Webb: A Pioneer In Arizona's Construction Industry

From high school dropout to New York Yankees owner to renowned construction mogul, Del E. Webb created a company that evolved into one of the largest developers in the state and the U.S., thus earning him the crown as the most influential person in Arizona’s commercial real estate history over the past 100 years.

Born in Fresno, Calif., Webb cut his academic career short in 1915, taking an interest in carpentry and baseball. For nearly 13 years, Webb worked as a carpenter strictly for companies with baseball teams in order to make his living and stay close to his sports passion. In 1927, at the age of 28, Webb moved to Phoenix after contracting typhoid fever. The next year, he began focusing solely on construction.

Del E. Webb, AZRE Magazine May/June 2011His first projects included rebuilding a Sears store, local grocery markets and public sector projects, especially schools. With these jobs, Webb was able to stay afloat during the Great Depression and keep his company moving forward.

After a combined project with The White Miller Construction Company, the Del E. Webb Construction Company was well on its way to being one of the top contractors in Arizona. He became so successful that in 1945 Webb and two other partners purchased the New York Yankees for about $3M. Webb was a co-owner until 1964.

During World War II, Webb was contracted to build air bases and military installations in Arizona and Southern California, but it wasn’t until 1960 that Webb’s construction would truly take the housing industry by storm.

Webb’s Sun City housing project addressed the need for senior communities and prospered well into the 1990s. With a shopping and recreation center, golf course and five house models, Sun City truly put Webb on the real estate map and even landed him on the cover of Time Magazine. Today, Webb’s Sun Cities continue to grow.

In 2001, the Del Webb Corp. was purchased by Pulte Homes, which has since merged with Centex Corp. to become the PulteGroup.

Webb died at age 75 in Rochester, Minn., following surgery for lung cancer, but his legacy lives on. There is the Del E. Webb School of Construction at Arizona State University, the Banner Del E. Webb Medical Center in Sun City, the Del E. Webb Center for the Performing Arts in Wickenburg, and the Del E. Webb Outpatient Center in Prescott Valley, just to name a few.

For more information about Del E. Webb’s PulteGroup, visit pultegroupinc.com.

AZRE Magazine May/June 2011

AZRE Magazine May/June 2011

Centennial Series: Most Influential People In Arizona Commercial Real Estate

As part of AZRE magazine’s Centennial Series, find out who made the list of the most influential people in Arizona Commercial Real Estate.

Most Influential People In Arizona Commercial Real Estate


Roy P. Drachman Sr. (1906 – 2002)
Roy Drachman Realty Company, Real Estate Development

Roy Drachman, AZRE Magazine May/June 2011Known as “Mr. Tucson,” Roy Drachman’s love for the city helped put Tucson on the map. A real estate tycoon who landed the Hughes Missile Systems Company site, Drachman also petitioned to build better streets, waterways and schools in his beloved city. He is responsible for bringing Major League Baseball teams to Arizona for spring training (the Cleveland Indians began training in Tucson in 1947). Throughout his career, Drachman donated generously to the University of Arizona, mostly for its cancer research. He funded a scholarship at the UA College of Architecture for upperclassmen who show proficiency in design. UA named its Institute for Land and Regional Development Studies after him. (Photo: Drachman family)


Grady Gammage, Jr.
Gammage & Burnham, Attorneys At Law, Real Estate Lawyer

Arizona Commercial Real Estate, AZRE Magazine May/June 2011For the past 20 years, Grady Gammage, Jr. has practiced law at Gammage & Burnham, taking on real estate projects such as redevelopment, high-rise buildings and planned communities. Gammage was a board member of the Central Arizona Project for two, six-year terms, beginning in 1996. Gammage’s urban mixed projects in Tempe won him three architectural awards. He is also affiliated with Arizona State University as an adjunct professor at the College of Law, the College of Architecture and Urban Design, as well as a Senior Fellow at the Morrison Institute. (Photo: Gammage & Burnham)


William Haug
Jennings Haug & Cunningham, Real Estate Lawyer

Arizona Commercial Real Estate, AZRE Magazine May/June 2011William Haug has dedicated much of his career to developing and establishing construction and surety law in Arizona. His leadership in the practice was recognized with his induction in the inaugural Maricopa County Bar Association Hall of Fame for his role in developing the practice of construction law. Haug developed his practice in complex dispute resolution in construction, fidelity and surety law. For more than 35 years, Haug has been an arbitrator and mediator. He joined the firm in 1981, became one of the original construction lawyers in Arizona, and paved the way for the practice to develop as construction across the state grew with its population. (Photo: Jennings Haug & Cunningham)


Sam Kitchell (1923 – 2006)
Kitchell Construction, General Contractor

Arizona Commercial Real Estate, AZRE Magazine May/June 2011Originally named Kitchell Phillips Contractors, Sam Kitchell started the company in 1950 with then partner James B. Phillips. Its construction of Safeway stores and local schools helped Kitchell evolve into one of the top 10 largest private companies in Arizona and one of the top 75 construction companies in the country. One of Kitchell’s main focuses included healthcare projects, which led to the construction of Good Samaritan Hospital in Phoenix, the Mayo Clinic of Scottsdale, Phoenix Children’s Hospital and Scripps Memorial Hospital in California, to name a few. (Photo: Kitchell Construction)


J. Daryl Lippincott (1924 – 2008)
CB Richard Ellis (CBRE), Real Estate Broker

Arizona Commercial Real Estate, AZRE Magazine May/June 2011Daryl Lippincott directed the CBRE Phoenix office from its opening in 1952. With retail stores such as Goldwater’s, Diamond’s, Leonard’s Luggage and Switzers, Lippincott helped build Arizona’s first shopping mall — Park Central. In 1957, Lippincott helped the Phoenix office expand to other services, including mortgage loans, property management and was later announced as the head of CBRE’s Southwest Division. Lippincott shaped both CBRE and the commercial real estate industry with his retail and commercial projects. (Photo: CBRE)


John F. Long (1920 – 2008)
John F. Long Properties, Homebuilder

Arizona Commercial Real Estate, AZRE Magazine May/June 2011John F. Long symbolizes the Phoenix transition from desert to urban city. His 1954 Maryvale project, named after his wife, established a base for all future affordable housing in the Valley. With an emphasis on quality, Long also built the Solar One housing development, getting a head start on sustainable practices. Long’s projects were built with everything in mind; hospitals, golf courses and shopping centers, giving homeowners whatever they needed within close reach. As one of Arizona’s most influential builders, Long is in the Arizona Business Hall of Fame and was awarded the first WESTMARC Lifetime Achievement Award, which has since been named after him. (Photo: John F. Long Properties)


Rusty Lyon
Westcor, Retail Development and Management

Arizona Commercial Real Estate, AZRE Magazine May/June 2011During his more than 40 years as CEO of Westcor, Rusty Lyon led the way in retail development and continues to contribute to the public’s shopping needs. Retailers have turned Westcor into the largest owner of commercial real estate properties, with projects such as Scottsdale Fashion Square, Chandler Fashion Center, San Tan Village, Flagstaff Mall & The Marketplace, Prescott Gateway Mall, Biltmore Fashion Park and The Boulders Resort. (Photo: Macerich)


M. M. Sundt (1863 – 1942)
Sundt Construction Co., General Contractor

Arizona Commercial Real Estate, AZRE Magazine May/June 2011Sundt Construction was founded in 1890 by Mauritz Martinsen Sundt, a Norwegian ship carpenter who immigrated to the U.S. as a teenager. The company’s early projects were homes and farm structures in northern New Mexico. In 1929, Sundt built a Methodist Church in Tucson. The project was directed by John Sundt, one of Mauritz’s 12 children. John liked Tucson, and decided to stay. Sundt‘s clients today are industrial, commercial and government projects, both nationally and internationally. In 1936 the company was awarded a contract for six projects, one of which was the expansion of the University of Arizona’s Tucson campus. In 1956, Sundt began construction on one of its biggest military projects, Davis-Monthan Air Force Base in Tucson. (Photo: Sundt Construction)


Frank Lloyd Wright (1867 – 1959)
Architect, Interior Designer

Arizona Commercial Real Estate, AZRE Magazine May/June 2011Frank Lloyd Wright spent most of his life designing homes, buildings and museums that changed the world of architecture. Wright designed more than 1,000 projects and more than 500 were actually built. Thirteen are in Arizona and are some of his most famous designs. Wright’s summer home, Taliesin West in Scottsdale, is also home to the Frank Lloyd Wright Foundation’s international headquarters, where an archive of all his sketches and projects is housed. ASU students have a constant reminder of Wright’s architectural genius with the Grady Gammage Memorial Auditorium, named after Dr. Grady Gammage, ASU’s president from 1933 to 1959. (Photo: Frank Lloyd Wright Foundation)

AZRE Magazine May/June 2011

 

CB Richard Ellis, AZ Business Magazine Oct/Nov 2006

CB Richard Ellis Has A Century-Long History

Ethics, Integrity, Collaboration

CB Richard Ellis has a century-long history rich with client-focused expansion

By Debra Gelbart

This year CB Richard Ellis (CBRE) celebrates the 100th anniversary of the company’s founding in America. However, many may not realize that this commercial real estate giant began in San Francisco under another well-known corporate moniker, “Coldwell Banker.” Colbert Coldwell was just 23 years old in 1906 and wanted to help rebuild San Francisco after the catastrophic earthquake. When he started his real estate firm, he was determined to set a new standard for ethics. His professionalism attracted a loyal client base. Just a few years later, he hired a salesman named Benjamin Arthur Banker. The two became lifelong business partners. Their firm began to expand farther and faster than any real estate services firm in history.

Arizona’s profound impact on the company
Ethics, Integrity, CollaborationIn 1952, the company opened its first office outside of California in Phoenix, Arizona. The office was first located on the property of Park Central Mall at Central Avenue and Earll.

J. Daryl Lippincott directed the activities of the Phoenix office from its inception and helped shape the trajectory of the company for the next 30 years. He began working at Coldwell Banker in Los Angeles in 1948 and started learning the business of regional shopping center development in Southern California. Lippincott came to Phoenix to manage the leasing of Park Central, the city’s first mall and Arizona’s first regional commercial development. “Initially, the sole purpose of the Phoenix office was to focus on Park Central,” Lippincott says.

The list of retail stores that Lippincott brought to Park Central includes some legendary names: Goldwater’s department store (the precursor to Robinson’s-May and Macy’s), Diamond’s department store (which subsequently became Dillard’s), Leonard’s Luggage and Switzer’s.

By 1957, the Phoenix office offered an array of real estate services, including mortgage loans, appraisals, property management and a residential brokerage as well as a commercial division. “The Arizona office incorporated separately from California and I became president of the Arizona corporation,” Lippincott says. Later, Phoenix was brought back into the corporate family and became the headquarters for the company’s Southwest division.

Leasing leader
In October of 1959, John Amory drove a car, belonging to a winter visitor, from Boston to Phoenix. “I really liked Phoenix,” he says. “I decided to look for a job here.” In December, Lippincott hired him.

Initially, Amory sold houses. “In 1961, I had an opportunity to concentrate on leasing. That’s when my career working with developers on office buildings began.”

His resume includes leasing activity for most of the premier office buildings in Phoenix in the 1960s, ‘70s and ‘80s: the Greyhound Tower; the Del Webb Townhouse (a unique mix of hotel and office space); the Financial Center, the building on Central Avenue that looks like a 1960s-era IBM punch card; the United Bank Building; the 111 W. Monroe office building in downtown Phoenix; and the Phelps Dodge Tower at 2600 N. Central Ave.

“Our firm leased almost all the new office space in Phoenix,” Amory says. He enjoys leasing office property because “every deal is a new deal. There’s no cookie-cutter formula for leasing office space. You have to figure out how to be a matchmaker for the landlord and the tenant.”

Today, 47 years after Amory began working in the Phoenix office, he serves as senior vice president for CB Richard Ellis. He has the longest continuous tenure of any sales professional in the company’s history. “I have no plans to retire,” he says, adding that he commutes every day from Wickenburg. “I like to work.”

Until this year, Ben Cowles had held the record of longest continuous tenure of any sales professional in the company’s history. He started out in the company’s Los Angeles office in 1949 and came to work in the Phoenix office in 1961, retiring in 1995.

In 1980, Cowles was presented with the William H. McCarthy Memorial Award, named after a salesman in Los Angeles who had demonstrated “the perfect blend of motivation and cooperation,” according to the award plaque. Cowles was only the third recipient of the award in the company’s history and to this day, he remains the only Arizona recipient. The award is the highest honor given every year to a CBRE sales professional who emulates (McCarthy’s) outstanding career.

Just 10 months after Amory arrived at the Phoenix office, Lee Noble was hired. Today, Noble too is a senior vice president in Phoenix with CB Richard Ellis.

“I was a student at ASU and one of my real estate professors got a letter from CB that said the company wanted to hire a young guy to do odd jobs,” Noble says. “I wanted to do it. So I became the ‘sign guy,’ putting up real estate signs all over the Valley. Then I began to concentrate on office building leasing, and several years later, on apartment building sales.” Noble was promoted to senior sales manager but found that he missed selling. “After seven years,” he says, “I went back into production. I wanted to focus on individual clients.”

“People ask me all the time why I’ve stayed with the company so long,” Noble says. “It’s because of the company’s ethics, integrity, the services we offer and the trusted relationships we’ve developed with clients that have lasted for years. The Phoenix office has, by far, the most tenured people of any CBRE office in the world. We have 26 guys who have worked for us for 20 years or more.”

More expansion
In 1963, the company is incorporated after operating as a partnership and again expands, this time to Tucson. In 1968, Coldwell Banker became a publicly traded company.

Mic Williams, who went to work in the Tucson office in 1974 as a salesman, says the firm developed an innovative, more effective way to cover the commercial real estate market. “Typically in those days, real estate brokers were jacks of all trades, leasing office space one day and selling a house the next. But the company pioneered the concept of segmenting the market—having each salesman focus on one specific area, such as office, industrial, retail or residential income. By segmenting, we had a competitive advantage. Our people were better trained and better equipped to service all aspects of the market.”

Williams, today the president of an early-stage seed capital investment firm in Boston, remembers the Tucson location fondly. “We had tremendous camaraderie and esprit de corps in that office,” Williams says. “We all grew up together and had families at about the same time. Our social lives revolved around the office. We were a ‘work hard, play hard’ group.”

The segmentation strategy made CBRE a headliner in the real estate industry in Arizona. By the time Rich Rodgers arrived in the Tucson office in 1981, “I really didn’t have to sell myself or the company to prospective clients,” he says. “They already knew about the company’s reputation for ethics, integrity, knowledge and dependability.”

Today, Rodgers is still in Tucson, presiding over his own company that develops industrial parks. “The knowledge I gained while I was at the firm has been invaluable,” he says. “Everyone I worked with was so professional and knowledgeable.”

Growing, growing, growing
By 1980, the company ranked as one of Arizona’s top real estate brokerage firms, providing comprehensive local market knowledge backed by a solid reputation as a nationwide leader in business and real estate services. In 1989, employees invested their own money and acquired the commercial side of Coldwell Banker’s business. Immediately, it ranked among the largest real estate service firms in North America.

In 1991, the company changed its name to CB Commercial Real Estate Services Group. In 1996, CB Commercial completed an initial public offering under the ticker symbol CBG.

In 1997 CB Commercial acquired Koll Real Estate Services, the nation’s largest property manager. In 1998, the company acquired REI Limited, the holding company for all Richard Ellis operations outside of the United Kingdom, and changed its name to CB Richard Ellis. The same year, CB Richard Ellis purchased a London-based commercial property services company, expanding the company’s full-service capabilities to the United Kingdom. Also that same year, company revenues reached $1 billion.

In 2001, CB Richard Ellis successfully concludes its privatization efforts with an overwhelming 98 percent approval vote by the shareholders. The company continues operations as CB Richard Ellis through its growing service network.

In 2003, CB Richard Ellis merged with Insignia Financial Group, a New York-based fully integrated real estate services company.

AZ Business Magazine October / November 2006In 2004, the company posted U.S. revenues of $2.4 billion. CB Richard Ellis’ property and corporate facilities management portfolio exceeded 989 million square feet. CB Richard Ellis Group Inc. completed an initial public offering on the New York Stock Exchange. In 2005, CBRE joins the Fortune 1000. And finally, in this, the company’s 100th year, CB Richard Ellis debuted on the Forbes Global 2000 list as the only real estate services firm to make the list. National Real Estate Investor has again ranked CBRE as the top real estate sales firm in the world, with sales and leasing volume in excess of $150 billion—more than double the nearest competitor. CBRE, with its partner and affiliate offices, has more than 19,500 employees in over 356 offices across more than 58 countries worldwide.

“This is a dynamic company that has continually expanded throughout the world,” says Daryl Lippincott, who today runs the Lippincott Family Foundation. “The company has never lost sight of providing quality, knowledgeable real estate services always focused on clients’ best interests.”

www.cbre.com

 

Arizona Business Magazine Oct/Nov 2006