Tag Archives: may-june-2013

PTK 2013


People To Know 2013

Honoring the Brightest Stars of Arizona’s CRE Industry

Peter MadridThe commercial real estate industry is constantly changing, affecting all levels of employees as well as both large and small companies. Economic circumstances further enhance the industry’s volatility — and the Metro Phoenix and Metro Tucson marketplaces are not immune to those changes.

When we published the first edition of People to Know in 2008, AZRE magazine brought its readers some of the most well-respected and knowledgeable experts in the industry. This year’s edition is no different.

It was quite a feat to track down some people who had moved on, companies that had left the area, and new ones that were coming in, but we have done our best to bring you a useful and informative resource to further support the local industry’s mission of building great communities throughout Arizona. From developers, the new “Up and Comers,” and more, you will find it all within these pages.

This year, nominees were evaluated be a selection committee using the following criteria: length of time in the community; accomplishments in the commercial real estate industry; and work in the community. From the individuals in this publication, AZRE will elect the top person in the industry in their respective category. The winners were honored at a reception May 16 at the former McCormick and Schmicks restaurant at the Esplanade. The industry leaders, announced at the event, will be featured in the July/August 2013 issue of AZRE.

Let us know what you’d like to see, what other information we could include that would be useful, and any other comments you’d like to share with us to make this publication the best it can be.

Editors Letter Signature

Peter Madrid, Editor

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AZRE Digital Issue

AZRE Magazine May/June 2013

AZRE Magazine May/June 2013

Of brighter days, adaptive re-use, and money to build

Peter MadridWhen I took over as editor of AZRE magazine three years ago, the commercial real estate industry was in the throes of the recession. There wasn’t much work out there … companies were cutting back on staff … some were even shuttering their doors. Of course, it made for compelling writing as those in the industry were really “thinking outside the box” just to survive.

With positive signs that the industry is making a comeback, it’s nice to be writing about new projects, companies hiring new employees and brokerage firms filling up vacant space. I’m also excited about a relatively new wave that is hitting the Valley — adaptive re-use. In Central Phoenix alone, there are no fewer than three such projects:

  • The Newton, at 3rd Ave. and Camelback: a revitalization of the old Beef Eaters Restaurant, opening this winter;
  • Old School O7, at 7th St. and Osborn: a mixed-use renovation of the former Osborn School House, also opening this winter;
  • The Yard, at 7th St. and Camelback: the Sam Fox/WDP Partners/RSP urban infill project.

You can read about these projects and others at azbigmedia.com.

With a new surge in commercial real estate projects, it appears that financial institutions are opening their vaults to developers once again. That is one of the articles in this issue. Also seeing the ripple effect are the commercial title companies. That story is in this issue as well.

Also in this issue: AZRE’s annual supplement with Valley Partnership; and a visit with industry groups CCIM Central Arizona and USGBC Arizona.

Let the good times roll … and no, I’m not talking about my AZRE anniversary or my birthday in June.

Editors Letter Signature

Peter Madrid, Editor

Take it with you! On your mobile, go to m.issuu.com to get started.


AZ Business Magazine May/June 2013

AZ Business Magazine May/June 2013

Good economic news abounds

Michael GossieThis is one of those issues of Az Business magazine that
was really fun to put together because it’s brimming with positive economic news.

We learn in the residential real estate outlook — that runs in conjunction with the announcement of the winners of the Arizona Real Estate Achievement (AREA) Awards — that we can expect Phoenix-area home prices to keep soaring in 2013.

“The residential market continues to improve,” said Elliot Pollack, CEO of Elliott D. Pollack & Company, a real estate and economic consulting firm. “The excess supply is dwindling. While population flows are still way below normal, demand is increasing. The result — higher resale and new home prices — helps the economy because fewer homeowners are under water and people feel better off (the wealth effect). These positive trends should continue over the next year and beyond.”

In our Arizona Small Business Association supplement, we learn that big banks are approving small business loans at the highest rate in more than two years. “With an improving economy, Wells Fargo is … providing more dollars to help small businesses stay competitive today and for the long term,” said Jennifer Anderson, business banking manager for Wells Fargo Arizona.

Now that’s a pretty good sign about our economic recovery.
Michael Gossie Signature

Michael Gossie, Managing Editor

Read more articles from this issue.

Take it with you! On your mobile, go to m.issuu.com to get started.


People To Know 2013 Industry Leaders

The commercial real estate industry is constantly changing, affecting all levels of employees as well as both large and small companies.

Economic circumstances further enhance the industry’s volatility — and the Metro Phoenix and Metro Tucson marketplaces are not immune to those changes.

When AZRE magazine first published it four years ago, People to Know in commercial real estate featured some of the most well-respected and knowledgeable experts in the industry. This year’s edition is no different.

This year, nominees were evaluated be a selection committee using the following criteria: length of time in the community; accomplishments in the commercial real estate industry; and work in the community.

From the individuals in the publication, AZRE elected the top person in the industry in their respective category. The winners were honored at a reception last night at the former McCormick and Schmick restaurant at the Esplanade.

The industry leaders, announced at the event, will be featured in the July/August 2013 issue of AZRE.

Congratulations 2013 Industry Leaders

Patrick HayesArchitect / Engineer

Patrick Hayes

Responsibilities: Design vision, marketing, proposals, client relations

Years at Company: 13 Years in CRE: 30

Accomplishments: Hayes is a LEED accredited professional who holds licenses in several states. He is known for pioneering and advancing the technological use of 3-D animation for design and marketing of projects. Hayes is an award-winning architect who is active in the community and with local charities. He designed Phoenix’s first LEED Gold certified speculative office building and has worked on several VA outpatient medical facilities. He is currently working on the nation’s most technologically advanced data center, CyrusOne at Continuum Business Park.

Karen GaylordAttorney

Karen Gaylord
Jennings, Haug & Cunningham

Responsibilities: Environmental law and natural resource practice

Years at Company: 1 Years in CRE: 28

Accomplishments: Gaylord represents an international aerospace company in its environmental compliance and state and federal superfund issues. She negotiated complex settlement agreement to govern cleanup of a jet fuel spill at Sky Harbor. She represents water providers in securing replacement water supplies and leads environmental compliance audit teams. She is recognized by Chambers & Partners as a top lawyer in environmental law (2007-2012) and Best Lawyers in America (2009-2013). Corporate Counsel named her to its “top lawyers” list in Guide to Environmental and natural resource law.

Dave CheathamBroker

Dave Cheatham
Velocity Retail Group

Responsibilities: Co-founder and managing principal of Velocity Retail Group

Years at Company: 5 Years in CRE: 26

Accomplishments: Cheatham is an accomplished authority on retail real estate in the disciplines of brokerage, project leasing, development, consulting and advisory services. He is a senior advisor to merchants, entrepreneurs, investors and senior retail executives throughout the industry. He has helped shape the corporate real estate policy of many of the nation’s household-name retail brands. His extensive client list includes leading brands such as Target and CVS Pharmacy. He has completed more than $2.2B of retail deals.

Stephen Kovach VSubcontractor

Stephen Kovach V
Kovach Building Enclosures

Responsibilities: Directs pre-construction services & business development

Years at Company: 15 Years in CRE: 15

Accomplishments: As a third generation business owner, Kovach has championed building solutions that maintain design and budget. He contributed to the success of projects including, the MDA Banner Cancer Center, University of Phoenix at Apollo River Point Center, Health Sciences Education Building at the Phoenix Bio Medical Campus, ASU College of Nursing, ASU Polytechnic Campus, Talking Stick Resort & Spa and the PHX Sky Train Terminal 4 & 44th Street Stations. He volunteers in various roles at the Del E. Webb School of Construction and offers his time and resources to charitable organizations.

Don KeuthEconomic Developer

Don Keuth
Phoenix Community Alliance

Responsibilities: Oversees Phoenix Community Alliance; CEO for Discovery Triangle DC

Years at Company: 15 Years in CRE: 36

Accomplishments: Keuth served 14 years on the Phoenix Planning Commission, of which he chaired for 3 years. He helped to create the Discovery Triangle Development Corporation, and has spent 8 years on the Phoenix IDA Board, of which he chaired for a year. He chaired the citizen’s advisory committee for convention center expansion and chaired citizen’s advisory committee for light rail construction. He serves on various other boards and commissions in his effort to be an active advocate for the vitality of Downtown Phoenix.

Karen HalpertFinancier/Accountant

Karen Halpert
Cole Real Estate Investments

Responsibilities: Senior VP, single-tenant property management

Years at Company: 2.5 Years in CRE: 21

Accomplishments: Named a “Woman of Influence” by Real Estate Forum in 2011, Halpert is an active member of AZCREW. She was a 2012 Sponsor Chair and board member and named 2013 AZCREW Chapter President. She provides oversight of a 17-person management team made up of property managers, assistant property managers and asset managers who are responsible for the day-to-day management of Cole’s single tenant portfolio. In 2011, the Cole team acquired $2.5B of high-quality properties.

Dave CrawfordGeneral Contractor

Dave Crawford
Sundt Construction

Responsibilities: Principal leader, directs day-to-day operations

Years at Company: 45 Years in CRE: 45

Accomplishments: Crawford was an active participant in the drafting, lobbying, education and passage of enabling legislation permitting alternate project delivery methods and qualifications based selection for public owners in the state of Arizona. He has participated as a national speaker on these topics and is also actively involved in this effort in other states and on a federal basis. Sundt was GC for two of the state’s signature educational facilites in 2012: the Health Sciences Education Building in Downtown Phoenix and HSEB 4 at ASU. Sundt was the 2013 RED Awards GC of the Year.

Alisa TimmProperty Manager

Alisa Timm
Lincoln Property Company

Responsibilities: Oversees business development and property management in AZ, Nev., Utah and NM

Years at Company: 1 Years in CRE: 28

Accomplishments: Timm is the new Director of Management Services for Lincoln Property Company’s Desert West Region in Phoenix. After being a principal of her own firm for more than 20 years in Phoenix, Timm was recruited to open the property management division for a national full service real estate company in June 2010. While there, she successfully grew the portfolio to over more than 3 MSF and managed a team of talented property managers and engineers. Timm serves on the IREM board and is an active member of AZCrew.

R Chapin BellDeveloper

R. Chapin Bell
The P.B. Bell Companies

Responsibilities: Debt and equity raising; new product design

Years at Company: 18 Years in CRE: 18

Accomplishments: PB Bell has become one of the best in case development and property management organizations. Under Chapin Bell, it is known for its quality reputation for designing award-winning developments as well as providing high quality property management services. Bell is past chairman of the Arizona Multihousing Association and the current chairman of UMOM (the largest homeless shelter for families in Arizona).

Photos by Lillian Reid

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PTK 2013 - Plaque

Double Plaque: $130 (+tax and shipping)
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AREA Awards 2013 Winners and Finalists

The Arizona Real Estate Achievement (AREA) Awards — selected by a panel of industry experts — honor the state’s best and brightest real estate companies, real estate agents, real estate brokers, mortgage companies, bankers, home builders, individuals who give back to the community, and those in the real estate business whose careers have left an indelible mark on the community and on the industry.

Here is a look at the winners and the finalists for the 2013 AREA Awards, who were honored at a reception at the Ritz Carlton on  May 9, 2013.

Congratulations to the 2013 AREA Award winners and finalists:


Brian Bair
Liberty Properties & Associates, Gilbert

In 2008, Bair capitalized on the market downturn with Bridgeport Financial Services, which focused on the acquisition, renovation and resale of REO and distressed properties. In 2012, Bair singlehandedly acquired more than half Arizona’s retail inventory for one of the world’s largest hedge funds. He closed 630 sales in 2012 for a total of almost $75 million.


  • JoAnn Callaway, Those Callaways, Scottsdale
  • Allen Willis, Deseret Fine Homes, Mesa


Heidi Quigley, designated broker
United Brokers Group, Chandler

Quigley, named Entrepreneur of the Year by the Women’s Council of Realtors, launched United Brokers Group in 2009, when the Recession’s impact on the housing market was at its greatest and quickly became profitable. In 2012, Quigley helped lead United Brokers Group to more than 1,000 transactions with more than $222 million in sales.


  • Donna Doglione, Kiva Fine Properties
  • Kuldip Verma, Vermaland, Phoenix


Matt Widdows
HomeSmart International, Phoenix

Founded by Widdows in 2000, HomeSmart International is the fastest growing real estate brokerage firm in Arizona with a network of more than 7,500 agents in more than 37 offices. Phoenix-based HomeSmart is ranked as one of the largest brokerages in the United States with more than 7,500 agents nationwide.


  • Dan Gonen, RE/MAX Excalibur Realty, Scottsdale
  • Realty One Group


RE/MAX Fine Properties, Scottsdale

Since RE/MAX Fine Properties was founded in 1997, this single-office is the highest volume office in the Valley. In 2012, the office closed 1,445 transactions for more than $474 million. On top of its statistical success, the office optimizes the agent-first mentality with exceptional customer service, agent training, business planning and an accessible designated broker and dedicated staff.


  • West USA Realty, Scottsdale
  • HomeSmart International, Phoenix


Academy Mortgage

Academy has the advantage of being a direct lender — all loan processing, underwriting, closings, and funding are handled locally. As a result, loans close in a matter of days rather than months. In 2012, Academy helped make the dreams of 3,212 homeowners come true, lending a total of almost $600 million.


  • Nova Home Loans
  • Peoples Mortgage Company


Meritage Homes

An innovator in production homebuilding with more than 4,000 home sale closings in 2012, Meritage was recognized for its continued leadership in protecting the environment. Meritage received the EPA’s 2012 Energy Star Leadership in Housing Award and is also the only large national homebuilder to earn the EPA’s Energy Star seal of approval on every home it has built since 2009.


  • Rosewood Homes
  • Fulton Homes



PulteGroup has been building in Arizona for more than 55 years and has been a leader in building energy efficient homes and environmentally sensitive communities – with features such as solar and third party energy certification, to rainwater harvesting and meaningful natural open spaces.


  • Kitchell Custom Homes
  • Nathan Day, Sterling at Silverleaf


Kiran Vedantam
Kiran and Associates Realty, Chandler

Vedantam pursues his goal of bringing compassionate and personable hospice care to his community by volunteering his time and resources to Sacred Heart Hospice. Vedantam’s contributions help Sacred Heart provide physical, emotional and spiritual services to patients and their family members.


Kuldip Verma
Vermaland, Phoenix

In 2012, Verma made charitable donations of $1.2 million through the Verma Charitable Foundation. The gift will be used to establish scholarships for underprivileged students and to build a religious retreat center in the Phoenix metro-area.


Ira A. Fulton

Fulton is the founder Tempe-based Fulton Homes, but his biggest impact on the world may have come through his philanthropy. BusinessWeek magazine has listed Fulton among its 50 Most Generous Philanthropists. According to BusinessWeek, Fulton and his wife have given away a staggering $265 million, approximately 60 percent of their net worth.

Photos by Cory Bergquist

AZ Business Magazine May/June 2013

Foodist Awards

2013 Foodist Awards Winners

The best, brightest and most innovative in the dining industry earn honors

The Arizona Restaurant Association’s (ARA) quest to find the culinary standard-bearers that embody the pursuit and the achievement of excellence in Arizona’s food scene resulted in the first winners of the Foodist Awards.

The official awards of the ARA showcase the restaurants, companies and talented people that are the very best in the industry. They are recognized for their superior business acumen, demonstrated leadership and community contributions that help shape the culinary landscape of Arizona.

“We feel strongly that pioneers and high achievers of Arizona’s restaurant industry deserve this unique recognition,” said Steve Chucri, president and CEO of the ARA. “It’s also a chance for the ARA to recognize local restaurateurs, purveyors and vendors who have distinguished themselves through superior business practices, demonstrated leadership and dedication to the restaurant community and hospitality industry as a whole.”

Here is a look at the winners and the finalists for the first Foodist Awards, who were honored at a reception at the Ritz Carlton on April 25.

Congratulations to the 2013 Foodist Awards finalists and winners!


BinkleysWinner: Kevin Binkley, Binkley’s

Chef Kevin Binkley has a great passion for cooking, fine food and exceptional service. His life goal was to open an award winning restaurant, and his dreams came true with Binkley’s. With the opportunity to work at two out of the top 13 restaurants in the nation, his experience makes him quite successful in the industry.



BeckettsWinner: Justin Beckett, Beckett’s Table

Chef Justin Beckett is dedicated to providing his customers with a fantastic dining experience and high quality service. Beckett brings in a majority of his products through local farmers and the culinary community.  The effervescent menu of Beckett’s Table changes seasonally, specializing in American comfort foods paired with international wine selections.


  • Jeremy Pecheco, LON’s at the Hermosa
  • Chef Razz Kamnitzer, Razz’s


ProvinceWinner: Rita French, Province, Westin Downtown

While working hard in her profession, Chef Rita French also makes a difference in the community. French works hard to do what’s best for the environment and single handedly changed the way food scraps were disposed in Arizona. She also has a very strong relationship with the Downtown Phoenix Farmer’s Market.


  • Wildflower Bread Company
  • Macayo’s Mexican Restaurants


Casino Del SolWinner: Aaron Defeo, Casino Del Sol

The Tucson native is a 12-year veteran in the state’s highest-volume nightclubs and restaurants as a bartender and beverage manager. He has competed in drink competitions on a local, regional, and national level. His cocktails have won numerous accolades. He was a finalist in the 2013 Bombay Sapphire Most Inspired Bartender competition in Las Vegas.


  • Richie Moe, Citizen Public House
  • Clint Spotelson, Mabel’s on Main


SearsuckerWinner: Searsucker

“Top Chef” finalist and “The Taste” judge Brian Malarkey’s menu features playful dishes that represent his fun personality showcasing New American Classic dishes with creative twists with serious flavor. Searsucker also features a striking, but inviting atmosphere.


  • Crudo
  • St. Francis


Culinary DropoutWinner: Culinary Dropout at The Yard

Think of it as a backyard, front porch and kitchen all rolled into one.  The Yard, one of Fox Restaurant Concepts’ biggest projects yet, transformed an old motorcycle shop near 7th Street and Bethany Home into the most distinct restaurant environment in Arizona.


  • Playground
  • Searsucker


Short LeashWinner: Short Leash Hot Dogs

Owners Brad and Kat Moore grew tired of the corporate world and wanted to be creative and work for themselves. So in 2010, they launched Short Leash Hot Dogs, a food truck featuring gourmet hot dogs wrapped in a warm naan “bun” that quickly became a food truck favorite throughout the Metro Phoenix area.


  • Emerson Fry Bread
  • Nogales Hot Dogs


El ChorroWinner: El Chorro of Paradise Valley

To honor the Arizona destination dining heritage, El Chorro’s culinary vision features classic cuisine favorites with a Southwestern-inspired influence.  The menu offerings center on fresh, seasonal, organic and locally grown ingredients – including herbs and produce from the El Chorro garden.


  • Elote Café
  • Barrio Café


OreganosWinner: Oregano’s

Oregano’s is a Chicago-style pizza restaurant specializing in thin crust, stuffed and pan pizzas. Apart from the great pizzas, Oregano’s has to-die-for salads, unique pasta dishes, great specialty drinks and patio seating. It truly is a great place for a whole family event or just an intimate gathering.


  • Postinos
  • America’s Taco Shop

Pictures from the 2013 Foodist Awards dinner:

Photos by Lillian Reid

Photo Booth Pics