Tag Archives: John Grady

OLYMPUS DIGITAL CAMERA

Chris Toci named top producer at Cushman & Wakefield

Cushman & Wakefield of Arizona, Inc. has announced its top producers for 2014.  For the second straight year, Chris Toci, executive director in the Capital Markets group, led the Phoenix office.

Toci negotiated investment sales totaling $290.4 million and approximately two million square feet in a variety of property types, including corporate campuses, Class A office buildings and a notable adaptive reuse project in Tempe.

The largest single transaction closed by Toci was an $85.1 million, 332,815-square-foot sale of Anchor Centre in the Camelback Corridor. Another significant deal was the $51 million, 337,439-square-foot sale of an office portfolio for American Express.

Other top producers include:

• Multifamily Advisory Group: Jim Crews;

• Office Group: Larry Downey and Mike Sayre;

• Investment Properties: Chad Littell and Chris Toci;

• Industrial Group: Jackie Orcutt and John Grady;

• Tenant Representation: Don Rodie, Blaine Black and Sam Murik.

“We are very proud of all our Top Producers this year,” said Jerry Noble, Market Leader and Managing Broker for C&W of Arizona.  “In 2014 Cushman & Wakefield participated in several transactions that helped shape the market. We are privileged to serve so many great clients and look forward to a strong market in 2015.”

1715 S. Holbrook Ln.

IPT assigns property manager at Normal Junction

Cushman & Wakefield of Arizona, Inc. has been selected by Industrial Property Trust (IPT) to handle leasing and property management for two industrial properties at Normal Junction.

The properties, located at 1715 S. Holbrook Lane and 1895 S. Los Feliz Drive, contain a total of 140,314 square feet of industrial space. Approximately 29,471 square feet within the properties are currently available for lease.

Cushman & Wakefield recently assisted HFF, LP, in the sale of these two industrial properties at Normal Junction.  HFF enlisted Cushman & Wakefield on behalf of property sellers American Realty Advisors and BlackRidge Real Estate Group.   IPT purchased the Holbrook Lane building for $7.86 million and the Los Feliz Drive property for $4.59 million.

The Normal Junction submarket consists of 17 properties totaling 614,000 SF. During 2014, the Cushman & Wakefield team of Market Leader | Investor Services Jackie Orcutt, Senior Director John Grady and Associate Mackenzie Ford has been responsible for more than 93,000 SF of leases in Normal Junction, accounting for 15 percent of the overall absorption. Currently, the submarket has less than five percent vacancy.

“We are thrilled to be working with IPT on the leasing and management of Normal Junction,” said Orcutt. “We have experienced great absorption in the Normal Junction submarket this year and look forward to many more successes with the new ownership.” The team of Orcutt, Grady, and Ford will handle leasing for the properties.

566 E. German

Cushman & Wakefield negotiates 5 SE Valley deals

Identifying prime distribution space in the Southeast Valley, the Cushman & Wakefield of Arizona leasing team of Jackie Orcutt,  John Grady, and Mackenzie Ford recently closed five tenant representation deals totaling 76,734 square feet.

The leases range in size from 3,744 SF to 26,023 SF across the Southeast Valley.

“It has become increasingly difficult to find space with ample clear height and dock-high loading south of the US-60 in the Southeast Valley,” said John Grady, a Director in the Industrial Properties Group.

 

The Southeast Valley tenants:

>> MyCom, long-term lease at 315 S. Bracken Lane, Chandler;

>> Executive Management Services, long-term lease at 607 S. 48th St., Tempe;

>> SolarCity, long-term leases at 566 E. German Rd., Gilbert; and 7931 E. Pecos Rd., Mesa;

>> Clean Energy Constructors, long-term lease at 1888 E. Broadway Rd., Tempe.

 

“We are excited to see an increase in pure industrial activity in the Southeast Valley,” said Orcutt, Market Leader | Investor Services with Cushman & Wakefield of Arizona.  “New speculative construction from industrial developers such as EastGroup Properties, Trammel Crow, and Turner Construction is timely as demand continues to strengthen east of the I-10 and south of the US-60.”

According to Cushman & Wakefield research, the Southeast Valley has delivered 109,540 SF of speculative development in 2014.  There are plans for an additional 265,000 SF of speculative industrial product to be delivered to the market in the coming 12 months.

 

1888 E Broadway 1, CushWake, WEB

Clean Energy Contractors outgrows its Tempe location

Cushman & Wakefield of Arizona, Inc. negotiated a lease for Clean Energy Contractors, relocating the electrical contracting company to 1888 E. Broadway Rd.

The company leased a 26,023-square-foot space, bringing the property to full occupancy. Clean Energy Contractors took possession of the space this week, relocating from 1856 E. 6th St. in Tempe.

John Grady, Jackie Orcutt and Mackenzie Ford of Cushman & Wakefield’s industrial division represented Clean Energy Contractors in the lease negotiations.

“As a sign of a strengthening economy, it s positive to see companies expanding quickly,” Grady said. “The tenant outgrew its former space within nine months. This property was one of the few remaining in Tempe that offered an available yard suitable for Clean Energy Contractors’ needs.”

Rick Foss and Isy Sonabend of NAI Horizon represented the landlord, Tempe Partnership.

 

Granite Commerce Center

Laminate company renews 16KSF lease at Granite Commerce Center

Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease renewal at Granite Commerce Center, 405 N. 75th Ave., Suite 180, for a lamination distribution company.

The lease renewal of 15,988 square feet is for USI Inc. of Madison, Conn. USI  markets roll and pouch laminating machines and films, binding equipment and supplies and many other office accessories including photo ID systems and mounting and display boards.

“The Southwest Valley industrial submarket is one of the most desirable in Metro Phoenix for USI’s business,” said Keri Scott. “USI decided to continue its operations at Granite Commerce Center because of its proximity to major freeways so it can service clients in adjacent states.”

Scott, Jackie Orcutt and John Grady of Cushman & Wakefield represented the tenant, USI. Kyle Westfall of JLL represented the landlord, Crow Holdings of Dallas.

Jabil Circuit, CushWake, WEB

Former Jabil warehouse sells for $11.4M

Cushman & Wakefield of Arizona, Inc. negotiated the $11.4 million sale of a former electronics manufacturing/warehouse building at 615 S. River Dr.

The 193,000-square-foot property was built in 1982, expanded in 1994 and expanded again in 1997. It includes 176,000 square feet of fully air-conditioned manufacturing and warehouse space and 17,000 square feet of office space. It sits on 16.5 acres with direct frontage on the Loop 101 and close proximity to the Scottsdale and Chandler submarkets.

“EverWest Real Estate Partners and CarVal Investors will reposition the property as creative office space and will fill the void felt by the many tech-related users in the market seeking modern, collaborative office environments with above-standard parking,” said Chad Littell.

“We are excited about the opportunity this building will bring to the market. Upon completion of the renovations, the property will offer high-tech creative office space with a 7:1 parking ratio in a thriving and high-demand large user market,” said Curt Kremer, Managing Director  – Acquisitions with EverWest Real Estate Partners.

Littell, Chris Toci, Jackie Orcutt and John Grady of Cushman & Wakefield of Arizona collaborated with John Boyd of Signature Associates in Michigan, a Cushman & Wakefield affiliate, and Tim Callahan of Cushman & Wakefield Florida, to represent Jabil.  The buyers are EverWest Real Estate Partners and CarVal Investors.  Jerry Noble, Ryan Bartos and Orcutt of Cushman & Wakefield will be retained to handle the leasing.

St. Petersburg, Fla.-based Jabil announced it would close the facility last September. Jabil moved into the building in 2005 when it took over an electronics manufacturing business.