Tag Archives: Michael Crystal

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GDC/RE founders move retail team to NGKF

GDC/RE founders Joe Doucett and Tim Gunnink are bringing their team of retail specialists to Newmark Grubb Knight Frank‘s (NGKF) Phoenix office, where the number of real estate professionals has grown fourfold in the past two years.

With nearly 25 years of real estate experience between them, Doucett and Gunnink will join the retail division of the Phoenix office as senior managing directors. Following them are Joseph Hoye, director; Tim Westfall, associate director; Ryan Moroney, associate; and Chris Osborn, associate. The group brings more than 8.4 million square feet of listings, representing 48 retail properties.

“Phoenix is one of the most competitive and desirable retail markets in the country because of its rapidly growing population, positive employment outlook and inexpensive land prices relative to other major metro areas. Every retailer wants a foothold here,” said Pete Bolton, executive vice president and managing director of NGKF’s Phoenix office. “Bringing Tim, Joe and their team aboard gives NGKF a strong and established presence in a retail market that totals more than 150 million square feet and positions us to take advantage of the expanding opportunities.”

Doucett and Gunnink founded Phoenix-based GDC/RE in 2009. Within five years, the firm became one of the top retail firms in the Western U.S., offering consulting services, retailer representation and leasing and investment sales services. Prior to GDC/RE, Doucett worked with The Corritore Company, representing high-profile, mixed-use developments and lifestyle centers along with specialty retailers. Gunnink was a vice president at Phoenix Commercial Advisors.

“Retailers and retail property owners are demanding more efficiency from their real estate to achieve sustainability and growth,” said Gunnink. “NGKF’s platform of enhanced services and capabilities, including its entire suite of real estate disciplines, its access to financing and capital markets and its international footprint, equips our team to position our clients for further success.”

The addition of the GDC/RE team follows several other key hires at NGKF in Phoenix. This spring, the office welcomed Directors Kathleen Morgan and Trisha Talbot, both from GPE Commercial Advisors, where they specialized in medical office properties. Together, they brought 1.2 million square feet of primarily medical office listings in the greater metro area and became part of NGKF’s Global Healthcare Services practice.

Jerry Jacobs, executive managing director, and Michael Crystal, managing director, both joined from Cushman & Wakefield, also in spring 2014. Specializing in office tenant and landlord representation, they added two million square feet in listings, comprising Class A high-rise buildings and Class B mid- and low-rise buildings in the Phoenix CBD and surrounding area. Last year, Jacobs was recognized as one of the top producers in the Phoenix area. Crystal has leased and sold over five million square feet of office space during his tenure and is involved in more than 80 lease transactions each year.

 

shops at esplanade

2 new restaurants opening at Esplanade

Cushman & Wakefield today announced the opening of two new restaurants at The Shops at Esplanade, located on the southeast corner of Camelback Road and 24th Street.  The new tenants are part of Esplanade owner, MetLife, and Cushman & Wakefield’s efforts to revitalize the property’s retail presence.

“We have worked diligently with MetLife to attract an exciting and successful blend of restaurants and retailers at the property that will suit this market,” said Jon Cowen, Senior Director at Cushman & Wakefield.  “The Camelback Corridor provides a fabulous market opportunity for the correct tenants and we’re pleased that ownership’s plan is coming to fruition.”

Pearl Live!, a Scottsdale–based company, will open a sushi restaurant with live entertainment.  Pearl Live! at the Esplanade will be the second sushi/entertainment concept for renowned restaurateur, Jimmy Carlin.  The Esplanade location will feature a large, outdoor patio, an indoor/outdoor bar, and live music.  Situated directly across from the Ritz Carlton, the space was previously occupied by Morton’s Steakhouse. Mr. Carlin plans to cater to the business lunch and happy hour crowds, but also provide an upscale venue at night.  Bob Tam, former corporate chef for PF Chang’s and current Director of Culinary Operations for Maven Hospitality Group (who recently opened The Strand Urban Italian in downtown Phoenix), will be responsible for the creation of Pearl Live!’s menu.  The approximate 7,977 square foot sushi restaurant is slated to open in May.

Solo Trattoria, a new concept from Chicago-based Gemstone Café Group, plans to open their doors at the Esplanade in mid February.  Brittany Harrison of Catalyst Commercial represented the tenant in this transaction, bringing the company’s first location to Arizona.  The Modern Italian restaurant leased approximately 2,555 square feet of space which was previously occupied by Picazzo’s Pizza.  Solo Trattoria, with its cozy and inviting ambiance, will feature fresh tasting Italian food, including Naples style thin crust pizza, authentic pastas, imported cheeses, and wine and beer.

Jon Cowen and Summer Jackson of Cushman & Wakefield serve as exclusive leasing agents for the Shops at Esplanade, while Larry Downey, Jerry Jacobs, and Michael Crystal lease the available office space for property owner MetLife.