Tag Archives: Land Advisors Organization

Downtown_Phoenix_Aerial_Sketch-on

AFI-USA sells downtown Phoenix development site for $12.75M

Real estate developer Africa-Israel USA (AFI-USA) announces the sale of a five-acre downtown Phoenix development site at the corner of Central Avenue and McDowell Road for $12.75 million. AFI-USA had owned the property since 2004. Lennar Multifamily Communities is the purchaser and plans to transform what is currently an empty lot into a 288,000-square-foot luxury residential mixed-use community. Randy Titzck, Greg Vogel and Chad Russell of the Scottsdale, Ariz.-based Land Advisors Organization represented AFI-USA in the transaction.

Lennar’s plans for the site include 368 luxury rental apartments along with 13,000 square feet of commercial and retail space, which is planned to accommodate collaborative co-working space, neighborhood retailers and a restaurant or café. The project is slated to start construction in the second quarter of 2015.

“Chagit Sofiev Leviev, CEO of AFI-USA, worked closely with the Lennar executive team to achieve this remarkable deal. The project will be a boon to the local economy, which is still recovering from the last recession,” said Damien Stein, Chief Operating Officer of AFI-USA. “Lennar builds high quality communities that positively impact the areas in which it develops. We expect that this development will contribute significantly to the positive growth and urbanization that is occurring in Downtown Phoenix.”

This successful sale comes on the heels of a spate of noteworthy lease signings at AFI-USA’s Times Square Building in New York City where marquee tenants include Haru Sushi, Guitar Center, Discovery Times Square Exhibition and Bowlmor Times Square.

The Land Advisors Organization reports recent deals

CANYONS AT WHETSTONE | Benson, Arizona

Offering: 795.69 acres
Location: East side of Highway 90, south of Interstate 10 in Benson, Cochise County, Arizona
Sales Price: not disclosed
Seller: National Bank of Arizona
Buyer: El Dorado Benson, LLC
Agents: Greg Vogel, Will White, Waseem Hamadeh and John Carroll
801 NORTH ARIZONA AVENUE | Chandler, Arizona

Offering: ±2,660 sq. ft. retail building on ±0.41 acres
Location: 801 N. Arizona Avenue, in Chandler, Arizona
Sales Price: $312,000
Seller: Bear Family Trust
Buyer: Matthew Mooneyham
Agents: Randolph C. Titzck and Chad Russell
901 EAST ROSSER | Prescott, Arizona

Offering: 5.48 acres
Location: 901 East Rosser, Prescott, Arizona
Sales Price: $800,000
Seller: Brady Revocable Trust
Buyer: The Church of Jesus Christ of Latter-Day Saints
Agent: Capri Barney
RANCHO CORAN | Las Vegas, Nevada

Offering: 22.06 acres
Location: 1792 N. Ranch Drive, Las Vegas, Nevada
Sales Price: $2,300,000
Seller: MB REO-NV Land
Buyer: Precedent Properties
Agent: Rick Hildreth
WHETSTONE RANCH | Benson, Arizona

Offering: 11,650 acres
Location: State Route 90 in Benson, Arizona; beginning +/-1.5 miles south of Interstate 10
Sales Price: not disclosed
Seller: Whetstone Partners, Whetstone Development, Graves
Buyer: El Dorado Partners, III
Agent: Greg Vogel, Will White, Waseem Hamadeh and John Carroll

November Seminar Events

November Seminar Events

November Seminar Events

Arizona Multihousing Association

2011 Perspectives and Projections Conference
Nov. 10, 8 a.m. – 1 p.m.
100 N. 3rd St. Phoenix

At the Phoenix Convention Center’s south building, industry experts will answering questions geared toward the multihousing industry — including where the market is headed, how current inventory is being financed, who’s buying and selling in the state and the status of multifamily foreclosures. Experts include Barry Broome, Greater Phoenix Economic Council; Joe Snell, Tucson Regional Economic Opportunities; Don Cardon, Arizona Commerce Authority; Elliott Pollack, Elliott D. Pollack & Associates and more.


Lambda Alpha International

Emerging Trends in Real Estate
Nov. 18, 7:30 a.m.
2901 N. 7th St., Phoenix

Come join Lambda Alpha International at the Phoenix Country Club for Emerging Trends in Real Estate, the most highly-regarded and widely-read forecast report in the real estate industry. This report will be presented along with breakfast for everyone present.


International Council of Shopping Centers (ICSC)

Retail Green Conference and Trade Expo
Nov. 29-30
5350 E. Marriott Dr., Phoenix

Sustainability is now more important than ever, and ICSC’s Retail Green Conference and Trade Expo at the JW Marriott Desert Ridge Resort & Spa intends to show everyone just how much better things have gotten in this field. Conference sessions here are meant to help business owners develop and refine more sustainable practices. Not only that, attendees are encouraged to share any experiences and advice with their peers.


Land Advisors Organization

Land & Housing Forecast
Nov. 30, 3 p.m.
340 N. 3rd St., Phoenix

Come join the Land Advisors Organization at the Sheraton in downtown Phoenix for an interactive discussion of how current housing and land market conditions will affect real estate development. During this event, experts will be able to answer any questions you have, and hopefully give you a better understanding of the real estate industry.

AZRE Magazine November/December 2011

Newsmakers, AZRE Magazine March/April 20111

Newsmakers: AZRE Magazine May-June 2011

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.

AZRE Magazine May/June 2011

RED Awards Banner

Best Retail Project 2011

Mountain Ranch Marketplace at Estrella

Best Retail Project 2011: Mountain Ranch Marketplace at EstrellaDeveloper: Kitchell Development Co.
Contractor:
Double AA Builders
Architect:
Butler Design Group
Broker:
Land Advisors Organization
Size:
109,000 building SF
Location:
9890 S. Estrella Pkwy., Goodyear

The 22-acre Mountain Ranch Marketplace at Estrella is comprised of 109,000 SF of retail space and at full build out will total 165,000 SF. The center is anchored by Safeway and includes Chase Bank, Walgreen’s, Subway, Great Clips, Oasis Bagel and several other tenants. Designed in cottage-bungalow architectural style, it features low-pitched gable roofs and deep, overhanging eaves. The project is the first LEED Gold certified neighborhood retail center in Arizona. It also was awarded a $10,000 rebate from APS for performing an energy savings analysis. Mountain Ranch Marketplace is a joint venture between Kitchell and Newland Communities.




Honorable Mention: Scottsdale Pavilions – Theater/Food Court Renovation

Scottsdale Pavilions – Theater/Food Court RenovationDeveloper: De Rito Partners Development
Contractor:
Double AA Builders
Architect:
Nadel Architects
Size:
57,956 SF
Location:
9090 & 9120 E. Indian Bend Rd., Scottsdale
Completed:
November 2010