Tag Archives: phoenix

Phoenix firm buys El Paso industrial portfolio

CBRE announced the sale of a four-building, 245,745-square-foot industrial portfolio in El Paso, Texas, on behalf of New York-based Sullivan Crosby Trust. Phoenix, Arizona-based ViaWest Group purchased the portfolio in an off-market transaction for an undisclosed price.

Christian Perez GieseWilliam CaparisAnthony Mash and Arturo De la Mora, with CBRE’s El Paso office, represented the seller.

The buildings are approximately 50 percent occupied—short-term tenants bring it to 75 percent occupancy. They are located south of Interstate Highway 10 in the central El Paso submarket. According to CBRE Research, the central El Paso submarket is approximately 94.7 percent occupied as of Q4 2014.

“We are very excited about our first purchase in El Paso. This acquisition is part of the ViaWest Southwest Fund and is our first purchase outside of Phoenix with the Fund. We are hopeful that this is the first of many as we expand further into El Paso, Salt Lake City, Las Vegas, and some other southwestern cities. This property fits all the attributes that we are looking for: a solid, infill location; excellent clear height and truck court; the ability to add value immediately; and a great brokerage team with the CBRE guys,” said Steven Schwarz, Principal at ViaWest Group.

“The portfolio is made up of good, quality assets. Once a few deferred maintenance items are addressed, these assets will be highly competitive,” said Mr. Perez Giese, Senior Vice President and Director of CBRE’s El Paso/Ciudad Juarez office.

This is the first El Paso-area acquisition for ViaWest Group. A host of rehabilitation projects are slated for the properties, including new roofs, landscaping, fencing, equipment replacement and more.

ViaWest has selected CBRE to lease and manage the properties. Mr. De la Mora will lead the leasing assignment.

options grow for telecommunication providers - AZ Business Magazine April 2008

Cox Arizona strengthens field operations team

Cox Communications has announced that four Phoenix-area employees, Lance Zielinski, Vince Merseal, Jim Mayorga, and David Rosales, have been promoted and will each be taking on new responsibilities as field operations supervisors.

As recently promoted field operations supervisors, each of these Cox Arizona employees will now be responsible for assuring the quality performance of installation and technical services of all Cox Communication products, including optimizing Cox Arizona’s network for the continued rollout of Cox Arizona’s 1G internet service throughout the Valley.

Lance Zielinski began his career with Cox in 2008.  Zielinski quickly progressed to an expert technician and then became one of the first Home Security technicians in the Valley. His expertise has earned him the role as the Home Security subject matter expert for Scottsdale, while also mentoring all new Home Security trainees at Cox Arizona. Zielinski was promoted out of Cox’s Scottsdale location.

 Vince Merseal began his career with Cox in 2005 as a field technician, and progressed to become one of the first employees to help install Cox Arizona’s recently launched 1G internet service. During his career with Cox Arizona, he achieved the recognition as a three-product expert, held the position as a field mentor, and also filled an interim field supervisor role.  He was promoted out of Cox’s Scottsdale location.

Jim Mayorga has been a dedicated Cox employee for the past eight years as a Universal home technician, as well as a mentor for the Avondale, Tempe, Union Hills and Mesa locations. Mayorga achieved an associate’s degree in computers and electronics, which led him to pursue a career in Cox’s technical field. Mayorga was promoted out of Cox’s Tempe location.

David Rosales has worked with Cox since 2007, and has held the role as a Universal home technician and as a field mentor at Cox’s Tempe, Scottsdale, Mesa and Avondale locations. Rosales was promoted out of Cox’s Tempe location.

Smithfield Properties opens @51 in Phoenix

Central Phoenix just got a new addition to its housing life with the opening of the new, ultra-hip @51 apartment community, a project brought to the Valley by Smithfield Properties, Chicago-based developer of high-end residences and adaptive reuse projects.

Designed by San Francisco-based Berkelhamer Architects, @51 is a contemporary residence set between the Biltmore area and midtown Phoenix. In addition to the 191 units, a ground-level restaurant will anchor the project and a rooftop nightclub with a pool will be available for special events. The community is located at the southeast corner of 16th Street and Georgia, ideally situated with ease of access to north and south ramps of State Route 51 freeway.

“We envisioned this community as contributing to the social and economic fabric of this geographic area – with residents who choose this area to reside for its fantastic restaurants, shopping and diverse local flavor,” said Bill Smithfield of Smithfield Properties. Smithfield also developed another modern community that opened last year in the Camelback corridor, Domus.

@51 will add to the local flavor with a restaurant at ground level, anticipated to open later this year. The restaurant, situated at the northwest corner of the property, comes from national proprietor Lettuce Entertain You, the brains behind dozens of popular restaurants in Chicago, Minneapolis, Washington DC and Scottsdale’s Don & Charlie’s.

Luxury apartment manager Mark-Taylor Residential is overseeing leasing of the community, located at 1615 E. Georgia. Rentals of the studio, one- and two-bedroom apartments range from $925 to $2800.

Sitting atop a multi-level parking garage, the community is a well-planned infill development that epitomizes urban living at its best. The large rooftop outdoor pool/exercise room and lounge overlooks the landscape to the east, offering unparalleled views of Piestewa Peak and Camelback Mountain. The development is immediately adjacent to a 10-acre city park, Desert Storm Park, offering paved cycling, running and dog-walking paths.

The community is now part of a portfolio of Mark-Taylor-branded communities all owned by different entities, but all with a uniform management approach and high standards of excellence. Mark-Taylor’s management group consists of local experts with deep roots in Arizona, a team that appreciates a lean and flat internal structure so that decisions can be made quickly and effectively.

 

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Stephanie Teslar now bar ambassador for Kimpton

Phoenix Mixologist Stephanie Teslar is shaking up the cocktail menus at three resorts throughout the state. Teslar will now serve as Arizona Bar Ambassador and Mixologist for all three Kimpton properties in the state including Phoenix’s Hotel Palomar (Blue Hound Kitchen & Cocktails, LUSTRE Rooftop Garden), Scottsdale’s FireSky Resort and Spa (Taggia Restaurant) and Amara Resort (SaltRock Southwest Kitchen) in Sedona.
 
Teslar got her start in the bar business in Flagstaff during her time at Northern Arizona University. It was at Criollo Latin Kitchen where she fell in love with spirits and cocktails. From there she moved to Phoenix to lead the cocktail program and bar at Blue Hound Kitchen & Cocktails as well as the LUSTRE Rooftop Garden at Hotel Palomar.
 
Teslar has been nominated for a variety of industry awards for her craft including the Phoenix New Times’ “Big Brain Award,” and in 2014 she won a coveted Foodist Award for Master Mixologist from the Arizona Restaurant Association.
 
In her new role Teslar will oversee the mixology programs at all three resorts and will spend time creating cocktails that truly reflect each resorts’ unique culinary points of view.
 
“I am honored to work with the Chefs Sean Currid and Massimo De Francesca to create cocktail menus that compliment their kitchen wizardry,” said Teslar.
 
Teslar is also pursuing her Certified Sommelier (CS) and leads the Bartender Education Series for Phoenix’s United States Bartenders’ Guild. 

Daum negotiates $1M sale of Phoenix office building

Daum Commercial Real Estate Services has negotiated the $1 million sale of a 5,600-square-foot office building located at 775 E. Covey Lane in Phoenix.

Carl Johnson with Daum Phoenix represented the seller while Menlo Group represented the buyer in the transaction. The seller of the Phoenix office building was Meco Real Estate Holdings, LLC of Windsor, Calif. ORP, LLC of Peoria was the buyer and bought the office space to relocate their headquarters.

 

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Robert G. Vaught joins Quarles & Brady

The national law firm of Quarles & Brady LLP today announced that Robert G. Vaught has joined the firm’s Phoenix office serving as of counsel in its Labor & Employment Practice Group.

Vaught’s practice includes counseling employers on matters involving the ADEA, FMLA, ADA, OSHA, Title VII, hiring and discipline, complaint investigations, and wage and hour issues. He also represents employers in related proceedings in state and federal courts, and before the Equal Employment Opportunity Commission, Department of Labor, and state administrative agencies. Vaught also has significant experience handling trade secret, unfair competition and restrictive covenant matters throughout the United States, and representing employers in related court proceedings.

He received his law degree from the University of Kansas Law School and his bachelor’s degree from the University of Kansas.

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Quarles & Brady Executive Committee adds Brad Vynalek

The national law firm of Quarles & Brady LLP today announced that Phoenix partner Brad Vynalek has been appointed to the firm’s Executive Committee.
 
Executive Committee members are responsible for the management and administration of the firm. Vynalek will serve a four-year term.
 
We are happy to welcome Brad to the firm’s leadership team,” said Quarles & Brady Chair Kimberly Leach Johnson. “His dedication to superior client service and understanding the clients’ business is unsurpassed, and we couldn’t be more pleased with the results.”
 
Vynalek is a member of the firm’s Litigation & Dispute Resolution Practice Group.  He focuses on clients in the financial, technology, university, commercialization, and health industries.  Since joining the firm 15 years ago, Vynalek has had a broad array of leadership roles within the firm from recruiting to creating signature business leadership programs featuring high profile CEO’s.  Most recently, Vynalek’s leadership roles outside the firm have included serving as Chair of Make-A-Wish Arizona, President of the University of Arizona College of Law Association, Greater Phoenix Economic Council Board of Directors, and Co-Chair of the ABA Section of Litigation Annual Conference. 
 
Vynalek earned his law degree from the University of Arizona James E. Rogers College of Law, and his bachelor’s degree from Stanford University, and he has also studied abroad through Georgetown University in Prague. 
 
 

Papago Arroyo sells for $40.85M

Lee & Associates Arizona announced the three-office building leasehold sale of Papago Arroyo, 1255, 1275 and 1295 E. Washington St., Phoenix for $40,850,000. Combined, the buildings total 279,503 SF which calculates to $146.15 per SF. The cap rate was reported to be 7% based on first year NOI performance.

 

Lee & Associates’ Coppola-Cheney Group and Jerry Marrell, Principal, negotiated the sale along with Bob Young and Glenn Smigiel of CBRE. The buyer was listed as Papago Arroyo Associates, LLC of Honolulu, HI. The seller was Greenwood & McKenzie RE Investments, of Tustin, CA.

 

“Papago Arroyo is part of the story that keeps getting better in Tempe. Located along the light rail system, this three-building campus is only minutes away from Phoenix Sky Harbor Airport, three major freeways and Arizona State University, which will always make it attractive to tenants,” said Andrew Cheney. “The new development underway in Tempe only adds to this property’s upside, he added.

 

The stable, Class A project is situated on a ground lease with 68 years remaining. The highly-sought after location has driven leasing demand for the remaining space. It is currently at 96% leased.

 

The buildings were developed in 1998 are situated on the Tempe/ Phoenix border. The property offers 5 per 1,000 ratio of parking, close access to major freeways, light rail stations and Phoenix Sky Harbor International Airport.

Apartment community in Phoenix sells for $525,000

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, represented the Seller in the sale of McLellan Apartments, an 8-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $525,000 equates to $65,625 per unit or $93.21 per square foot.

Jack A. Cardinal, a Managing Director of the firm, and Jennifer Runyon, an Investment Associate, represented the buyer in the transaction. “The asset has been in the same family for over 40 years; has all two bedrooms and one bath floor plans with a washer/dryer in each unit. The property was 100% occupied at close of escrow. This is truly was a once in a generation opportunity for the buyer.” stated Cardinal.

The 5,632-square foot apartment community was built in 1965 on a 0.58-acre lot. Jennifer Runyon added, “This casita style property felt more like an intimate townhome community than an apartment complex. Unique features including individual carports and private patios were well suited for the Buyer’s needs. Pride of long-term ownership was clear in the meticulous maintenance and hands-on management approach.” With proper management and continued care, this asset will continue to serve as a steady income producing opportunity. Please contact Jack Cardinal, 602-457-7751, for professional and expert guidance before making your next move in the multifamily market.

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FirstBank fund helps qualified homebuyers buy new homes

FirstBank Holding Company, a holding company with 15 banking locations throughout Arizona, announced a $1 million community development investment with Trellis (formerly Neighborhood Housing Services of Phoenix), an organization dedicated to making financially stable homes, neighborhoods and communities possible in Maricopa County. FirstBank’s contribution will provide qualified homebuyers up to $25,000 to be used as a down payment toward the purchase of a new home.

Trellis was founded in 1975 with the help of the City of Phoenix and Neighborhood Works America, a national nonprofit organization that provides financial support, technical assistance and training for community-based revitalization efforts. The organization focuses on lending, learning and building by offering mortgages with little to no down payment, providing financial literacy classes and acquiring and renovating distressed properties, respectively.

“We made this contribution to Trellis because we believe in helping people who are pursuing the American Dream of home ownership,” said Angelo Chin Foo, banking officer at FirstBank and Trellis board member. “Trellis is a multi-service organization that has made a significant impact on the community over its 40-year history. With this investment, we hope to play a small role in helping Trellis deliver its mission of providing more affordable housing to Arizonians.”

Structured as an “equivalent equity investment,” FirstBank’s $1 million contribution allows qualified homebuyers to borrow up to $25,000 towards the purchase of a new home. Homebuyers repay the loan to Trellis over a 15-year period, and Trellis will use the repaid funds to provide assistance to homebuyers across Maricopa County, in perpetuity.

“Access to affordable housing benefits everyone. Individuals and families become stable and more economically secure, neighborhoods become more active and cities gain jobs and tax revenues,” said Patricia Garcia-Duarte, president and CEO of Trellis. “We rely on generous partners like FirstBank to help us strengthen our local communities and empower homebuyers, and we couldn’t be more grateful for this generous support.”

FirstBank opened its first location in Arizona in 2007 and has since expanded to 15 locations. All Arizona branches offer a full range of services, including Free Checking, Free Business Checking, mortgages, home equity loans and commercial loans. The bank is the main sponsor of Arizona Give Day, a 24-hour online giving initiative aimed at increasing individual giving throughout the state.

For more information, visit TrellisAZ.org.

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Squire Patton Boggs announces 40 promotions

Squire Patton Boggs announced the promotion of 40 lawyers as partners and principals. The promotions are within most of the firm’s key practices and involve lawyers from 21 offices around the world.

“I would like to congratulate all of our colleagues on their well-deserved promotions,” said Mark Ruehlmann, chair and global CEO of Squire Patton Boggs. “This set of promotions reflects the real depth and breadth of talent that runs throughout our firm and also the scale of ambition we share for growing our business and providing the highest quality service to our clients.” 

The following lawyers have been promoted as partners in the Phoenix office:

• Jaime R. Daddona, Corporate

• Jacob B. Smith , Tax Strategy & Benefits

Squire Patton Boggs is one of the world’s strongest integrated legal practices.  With 44 offices in 21 countries, the firm is renowned for its local connections and global influence, delivering comprehensive legal services across North America, Europe, the Middle East, Asia Pacific, and Latin America.   With expertise spanning all key sectors, the firm is also known for its preeminent public policy practice and deep-rooted relationships in Washington DC and Brussels.  For more information, visit www.squirepattonboggs.com

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Eight’s Check Please! is a must for Arizona foodies

The third annual Eight’s Check Please! Arizona Festival will be held on March 22nd, 2015 at Cityscape in Downtown Phoenix from 11 a.m.-3 p.m.

The culinary festival will feature local, independent eateries from hamburger haunts to five-star, gourmet restaurants. Local foodies will be able to try an array of different foods and explore in this one-stop shop festival.

A featured show on Eight, Arizona PBS, establishments that have appeared on the shows in previous episodes will again make an appearance at the festivals.

However, new to the festival in 2015 will be the showcase of different chef’s talents as they display their abilities to feed in style; this will include a second panel of top Valley chefs and a lineup of cooking demonstrations by local chefs on two stages, provided by SubZero/Wolf. You can also take a tour of favorite wines with Chef Christopher Gross, who will also provide insight into his favorite wine and food pairings.

The festival will be featuring the following returning establishments: Switch Restaurant & Wine Bar, The Wild Thaiger, Salerno’s, Haus Murphy’s, Frasher’s Steakhouse & Lounge, The Salt Cellar, Flavors of Louisiana, Rancho Pinot, Cowboy Ciao, Jewel of the Crown, Cucina Tagliani, Tarbell’s, San Tan Brewing Company, Thee Pitts “Again,” Hob Nob, Phoenix City Grille, Red, White and Brew, Betty’s Nosh, Avanti Restaurant, MacAlpine’s Restaurant & Soda Fountain, and TEXAZ Grill.

For the opportunity to try out these restaurants and explore the new additions as well, you can buy your ticket at www.azpbs.org/checkplease/festival. General admission is $79 if bought online, but $89 if bought at the door on the day of the festival. Cost admissions include food, wine and beer sampling as well as panel discussions, cooking demonstrations and guest lectures.

Last year, the event sold out, so obtain your ticket soon if you would like to attend.

For more information on sponsorship and participation opportunities with Eight’s Check, Please! Arizona Festival, please contact Chelsea Fox at R Entertainment Co., 480.657.7333 ext.15 or email Chelsea@r-entertainment.com.

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Colliers announces first quarter broker promotions

Colliers International in Greater Phoenix recently promoted 10 brokers, including one to senior executive vice president and three to executive vice president. Each year, Colliers promotes brokers in the first quarter.

“The promotions recognize the dedication, talent and expertise of our brokers who know how to maximize opportunities for our clients,” said Bob Mulhern, managing director of Colliers Phoenix office. “The number of promotions points to the accelerating success of Colliers in the Phoenix marketplace. We’ve recruited 23 new brokers and more than doubled our production in the past five years,” he added.

William S. Littleton SIOR, MCR, SLCR was promoted from executive vice president to senior executive vice president of corporate services. Littleton has almost 30 years of experience with Colliers. This position is awarded for high business production, significant industry experience and expertise and local office leadership. Littleton has leased and sold in excess of $500 million of industrial and office properties throughout North America, EMEA (Europe, Middle East and Africa) and Asia/Pacific.

Bill Hahn, Jeff Sherman and Trevor Koskovich of the HSK Multifamily Team were promoted to executive vice president from senior vice president. This team’s success in Arizona led it to branch out to other states, where it is actively disposing of assets in Las Vegas; El Paso, Texas; and Albuquerque, N.M.

Promoted from vice president to senior vice president were Brad Cooke and Rob Martensen, SIOR, CCIM. Cooke joined Colliers in 2006 and is part of the Colliers Cooke Team, where his primary role is client relationships in acquisitions and dispositions in the multifamily investments sector.

Martensen, during his 18 years with Colliers, has been involved in more than 700 transactions involving industrial sales, leasing, build-to-suits and land sales. He specializes in assisting industrial landlords, developers and tenants, helping them make successful decisions in the Phoenix market by providing a deep knowledge of current industrial trends and product types.

Associate vice presidents who are now vice presidents are Marcus Muirhead and Ryan Timpani. Muirhead joined Colliers in 2006. A member of the Colliers Healthcare Services Group, he specializes in medical office and retail investment properties. Timpani is a member of the Lambeth-Noel-Timpani team—one of the top producing office properties teams in Metro Phoenix. He joined Colliers in 2010.

Former senior associates Danny Plapp and Peter Bauman were named associate vice presidents. Plapp specializes in landlord advisory services in Class A and B office properties throughout metropolitan Phoenix. He joined Colliers in 2012.

In addition to becoming associate vice president, Bauman was named Rookie of the Year for Colliers International in Greater Phoenix. This honor is given to a broker with one to two years’ experience who has met the Colliers’ Phoenix office standards for a productive year. His focus is investment sales, especially national net leased assets.

Colliers top producers in 2014 were Cindy Cooke, Brad Cooke, Trevor Koskovich and Jeff Sherman, Todd Noel and Keith Lambeth, William S. Littleton, William R. Hahn, Paul Sieczkowski, Rob Martensen, Kim Soule’, Philip A. Wurth, Don MacWilliam and Payson MacWilliam, Mindy Korth, John Barnes, Tivon Moffitt and Jim Keeley. 

Recognized for 30 years of service was Tom Knaub, vice president. Acknowledged for 10 years of service was Jerry Tenge, senior vice president.

Seven brokers have five years of tenure: Bob Broyles, senior vice president; Tim Dulany, vice president; Hahn, Koskovich and Sherman, all new executive vice presidents; Tyler Smith, vice president and Phil Wurth, vice president. Administrative assistant Bertie Burckle was recognized for 20 years of service.

In the Real Estate Management (REMS) division of Colliers International, Jonni McCray was promoted to operations coordinator from administrative assistant.

Three REMS employees were recognized for 10 years of service: Eulalio M. Castaneda and Larry Dillion, both at ASU Brickyard and Tammy Forbis, assistant property manager.

Those with five years of tenure included Amanda Joiner, senior service center coordinator and

McCray. Also with five years are Steve Skibbe, building engineer; Robert Verdugo, maintenance technician; and Brian Wedgeworth, assistant chief building engineer; all at the ASU Downtown Campus.

Rendering, planned clinical tower, Banner-University Medical Center Tucson. Image courtesy of Shepley Bulfinch.

Shepley Bulfinch, GLHN awarded Banner project in Tucson

Banner Health has awarded the contract for the design of the new Banner – University Medical Center hospital facility in Tucson to Shepley Bulfinch architects of Phoenix, in association with GLHN Architects & Engineers, Inc. of Tucson. The 11-story tower is scheduled for completion in 2019.

This news follows Banner’s acquisition of the University of Arizona Medical Center, which was finalized on February 27.

“We are honored to be working with Banner Health as they rebuild the core of the hospital,” said Shepley Bulfinch’s David Derr, AIA, principal-in-charge for the project. “Both Shepley and GLHN know the University Medical Center well from our previous work, and we understand its importance to the residents of Tucson and surrounding communities.”

Shepley Bulfinch brings national expertise in academic medical center design to the project, with clients that include Yale-New Haven Hospital and Dartmouth-Hitchcock Medical Center. The firm prepared the Master Plan for the new facility and completed the hospital’s surgical services renovation and expansion in 2013. Elsewhere in Tucson, Shepley Bulfinch worked with city officials and community stakeholders on the development of the Main Gate Overlay District near the University of Arizona campus.

Tucson-based GLHN has collaborated on significant local projects, including the Streetcar Maintenance and Storage Facility and Pima County Courts Complex, both integral to the city’s downtown redevelopment efforts.  The firm has provided services to the healthcare industry for over 40 years, working at over 120 VA Medical Centers nationwide and renovating more than 100 areas on the University of Arizona Medical Center campus.

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CBRE completes sale of Esplanade III

CBRE has negotiated the sale of Esplanade III, a 218,266-square-foot office building located at 2415 East Camelback Road in Phoenix. Financial terms of the transaction were not disclosed. The property was approximately 95 percent leased at time of sale.

Jim Fijan and Will Mast with CBRE’s Phoenix office negotiated the sale, along with Kevin Shannon of CBRE’s South Bay, California office. The seller was an institutional client of AEW Capital Management, L.P. The buyer was Dallas-based Crow Holdings.

“This is the highest price per square foot for a multi-tenant, class A asset since the downturn,” said CBRE’s Fijan. “Office fundamentals are improving and pricing is approaching pre-recession levels. Investors are taking notice and have shifted their attention to Phoenix, especially as pricing in coastal markets skyrockets.”

As part of the Esplanade mixed use development, Esplanade III benefits from the wealth of on-site amenities shared by the complex. MetLife, owner of the other four office buildings in the development, recently announced a refresh of the retail amenities such as new restaurants and a new common area business center. 

Developed in 1997, Esplanade III is a ten-story, class A, multi-tenant office building located in the heart of the Camelback Corridor. Ninety-five percent leased at time of sale, tenants include CBRE, Alliance Residential, Regus, Helios and Major League Baseball’s western headquarters, among others.

Waterford Hi-Res Image, ABI Multifamily, WEB

Apartment industry contributes $9.9B to Phoenix economy

The apartment industry emerged as one of the strongest sectors coming out of the Great Recession, and a new study shows just how much the Phoenix economy benefited from the rental boom. In 2013 – the latest numbers available – apartment construction, operations and resident spending contributed $9.9 billion locally and supported 99,900 jobs in the metro area.

The economic data are part of new research commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA), which looks at dollars and jobs from apartment construction, operations and resident spending, nationally, by state and in 40 specific metro areas, including Phoenix. The data, based on research by economist Stephen S. Fuller, Ph.D., of George Mason University’s Center for Regional Analysis, are available on the website www.WeAreApartments.org.

Nationally, the apartment industry and its 36 million residents contributed an impressive $1.3 trillion to the U.S. economy, supporting 12.3 million jobs across the U.S. in 2013. 

The study showed that in the Phoenix metro area:

• The local economic contribution from the apartment industry totaled $9.9 billion, supporting 99,900 jobs.

• The economic contribution of local apartment construction totaled $1.4 billion.

• The economic contribution of local apartment operations totaled $1.7 billion.

• Apartment construction and operations supported $1.1 billion in personal earnings for local workers.

• Renter spending in the Phoenix metro area contributed $6.9 billion to the local economy.

• The total economic contribution of the apartment industry and its residents in Arizona totaled $13.1 billion and supported more than 131,700 jobs.

“Job growth in Phoenix is on the rise, increasing demand for apartments. As a result, apartment construction levels are elevated in the area, especially in Phoenix’s higher-end north and east side neighborhoods where new apartments are most needed. Our city’s east side, in particular, generates tremendous apartment demand due to its proximity to Arizona State University and its accessibility to nearby employment areas,” said Tom Simplot, President & CEO of the Arizona Multihousing Association. “The rental boon – both locally and nationally – has been fueled by demographic changes like the growing Millennial population and a rediscovery of metropolitan urban cores.”

“Here in Phoenix, we’re feeling the positive economic impact of the booming apartment industry, which is helping our city thrive,” Simplot explained. “The great news about the apartment industry is that the dollars and jobs don’t end with construction. The ongoing operations and resident spending make each apartment community an economic engine, supporting local jobs and making a positive economic impact in our area – and in towns across the country.”

“Our study showed major increases around apartment construction, with construction spending, economic contributions and personal earnings all rising substantially,” said Fuller. “The construction for multifamily apartment buildings is a significant and growing source of economic activity, jobs and personal earnings in communities nationwide.”

“According to our study findings, apartment construction has been on the rise over the past five years. In 2009, during the economic recession, there were only 97,000 construction starts, which was the lowest level since records began in 1964. In comparison, there were 294,000 construction starts in 2013 – a significant increase,” said NAA Chairman Tom Beaton, Senior Vice President, Management, The Dolben Co.

“The most visible sign of the rental resurgence – apartment construction – is on the rise, contributing $93 billion to the national economy in 2013, resulting in $30 billion going directly into the paychecks of more than 700,000 workers,” said NMHC Chairman Daryl Carter, CEO of Avanath Capital Management.  “Besides all the dollars and jobs, the increase of available apartments will also help address affordability challenges that we see in many markets across the U.S.”

In conjunction with the study’s release, the website www.WeAreApartments.org breaks down the data by each state and 40 key metro areas. Visitors can also use the Apartment Community Estimator – or ACE – a tool that allows users to enter the number of apartment homes of an existing or proposed community to determine the potential economic impact within a particular state or metro area.

For more information, visit www.WeAreApartments.org/metro/Phoenix.

The Arizona Multihousing Association is the statewide trade association for the apartment industry in Arizona, providing education and advocacy for ethical and fair housing.

The Arizona Multihousing Association is the statewide trade association for the apartment industry in Arizona, providing education and advocacy for ethical and fair housing.

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Savills Studley expands U.S. presence to Phoenix

Savills Studley, a commercial real estate services firm, announced the opening of its first-ever Phoenix office. The firm signed a lease at Anchor Centre East (2231 E. Camelback Road). Tiffany Winne, Senior Vice President at Savills Studley will lead the firm’s operations in Phoenix. Winne hired Ryan Bartos and Matthew Coxhead, both prominent and respected industry professionals within Phoenix’s commercial real estate community, to assist her with the growth and development of Savills Studley’s presence in the Phoenix market. The launch marks the firm’s 26th location within the United States.

“We have relationships with many Phoenix-based companies and look forward to working with them more closely.  We have a solid track record of transaction work in that market and only look forward to growing it now with a dedicated presence.  We are excited about Phoenix due to its growing reputation as a hot spot for technology, advertising, media and information firms and talent, as well as its strength among more traditional space users like law firms and corporations,” says Savills Studley Chairman and CEO Mitch Steir.

Winne and the Phoenix team’s primary focus will be on coverage of the Phoenix metro area and select domestic and global portfolios. In addition, the team will recruit top talent locally throughout 2015 and beyond. The Phoenix office will benefit from the support of Savills Studley’s stellar resources worldwide, including best-in-class market research, financial analysis and services delivery expertise. As part of London-headquartered Savills plc, the premier global real estate service provider, the Phoenix team can tap into the global network of more than 27,000 professionals across 600 locations.

“We are thrilled to entrust Tiffany with the expansion of our tenant representation practice into Phoenix, a very promising market with a growing appetite for our specific services and expertise,” says Michael Colacino, president of Savills Studley.  “We are confident that Tiffany’s brilliant leadership skills, industry knowledge and remarkable understanding for the firm’s values and unique culture, coupled with the market expertise and impressive capabilities Matt and Ryan demonstrate, will prove to be a winning formula for Phoenix.”

Tiffany Winne

Throughout her real estate career, Winne has executed transactions totaling over 10.8 million SF with a value of over $3.4 billion across 20 broad industries in 30 major markets domestically and internationally.  Her career has been devoted solely to representing tenants and helping them turn real estate into a strategic advantage. She serves clients across a wide breadth of industries, including financial services, law, media and technology, health care, and not-for-profits. Tiffany has developed an expertise not only in managing transactions, but also in analyzing and operating complex portfolios in office industrial and retail sectors for both leasing and sales.  She has developed a reputation for solving the complex real estate challenges of organizations spanning many geographies and property types.  She is a dedicated advisor to a broad spectrum of business types where sophisticated business acumen is highly valued and critical to project success.

Winne is a past recipient of Crain’s Chicago Business “40 under 40” top young executives and is often quoted in a range of publications, including Businessweek, the Chicago Tribune, Crain’s Chicago Business, Commercial Property News, Illinois Real Estate Journal, and Real Estate Forum. Winne earned a Bachelor of Arts from Middlebury College and a Master of Arts from St. Johns College.  She also served in the United States Peace Corps. Throughout her career, Winne has successfully negotiated and secured leases on behalf of major corporate tenants including Time, Inc., AllianceBernstein, Integrys, Morton Salt as well as national law firms including Faegre Baker Daniels, Jackson Lewis and Drinker Biddle & Reath.

“I am honored and excited for the opportunity to open the firm’s Phoenix office alongside Matt and Ryan. We look forward to offering the Phoenix market the highest caliber of tenant-focused services,” says Winne.

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McDowell Mountain Music Festival returns March 27-29

The three-day McDowell Mountain Music Festival, which takes place March 27-29, features a lineup that includes Widespread Panic, Passion Pit, Thievery Corporation, Phantogram, Portugal. The Man, Trombone Shorty & Orleans Avenue, Karl Denson’s Tiny Universe, Beats Antique, Trampled by Turtles, StrFkr, Robert Delong and Break Science.

“This festival is a party for the people,” said John Largay, president of Wespac Construction, which has produced the festival since 2004. “It’s a community effort, engaging music enthusiasts to come out to enjoy an eclectic mix of talents and also to support notable charities in the Valley.”

The 12th annual festival will be held at Margaret T. Hance Park in downtown Phoenix, March 27-29, 2015. VIP, three-day and single-day tickets are now on sale at www.mmmf.com. After hours event passes will also be on sale at a later date. For more information about concert details and ticket prices, visit www.mmmf.com.

As Arizona’s only 100 percent nonprofit music festival, Largay said the McDowell Mountain Music Festival is proud to continue its alliance with two local, family-based, non-profits beneficiaries: Phoenix Children’s Hospital Foundation and UMOM New Day Center, which provides homeless families and individuals with safe shelter, housing and supportive services. Over the years, the festival has raised more than one-million-dollars in funds for charity.

healthcare

Phoenix is No. 1 city for healthcare jobs, ZipRecruiter says

The job market has had its ups and downs over the last few years, but the healthcare industry has consistently added jobs no matter how bad the overall economy got. The future of healthcare employment looks bright as well, with government estimates indicating that almost 3 million jobs are set to be added in the healthcare industry by 2022.

All of this means that when it comes to picking a career field which offers almost a lifetime guarantee of hireability – something almost unheard of in the modern American economy – healthcare is still a great choice.

Once you make that career choice, though, you still need to find a place to start that career, and there are big differences in the job market from city to city, even in a field like healthcare. After all, a nursing degree from even the best school is not going to do you much good if you move to a city with weak demand for nurses.

To find out where the best cities for healthcare careers are, ZipRecruiter looked at the ratio of healthcare jobs to regular jobs combined with an analysis of the number of healthcare companies in each city.ZipRecruiter then ranked the top ten cities according to how strong healthcare hiring is in each one.

According to ZipRecruiter, here are the best cities for healthcare jobs right now:

1. Phoenix, AZ
Population: 4.3 million
ZipRecruiter Score: 16

 

2. Sacramento, CA
Population: 2.6 million
ZipRecruiter Score: 14

3. Tampa, FL
Population: 2.8 million
ZipRecruiter Score: 13.6

4. Pittsburgh, PA
Population: 2.3 million
ZipRecruiter Score: 13.5

5. Hartford, CT
Population: 1.2 million
ZipRecruiter Score: 13.4

health,informatics

Banner, UA launch informatics fellowship program

A two-year Clinical Informatics Fellowship Program, sponsored by Banner – University Medical Center Phoenix (formerly Banner Good Samaritan Medical Center), is being launched following the creation of a new clinical subspecialty by the American Board of Medical Specialties.

The American Council on Graduate Medical Education has accredited the program, which is scheduled to begin later this year, said program director Howard Silverman, MD, MS. Two physician fellows will be admitted in July in the first program cohort.

The program will be overseen by Dr. Silverman, chairman of the department of Biomedical Informatics at the University of Arizona College of Medicine – Phoenix. Biomedical Informatics faculty from all major teaching affiliates will be actively involved in this innovative training program.

Biomedical informatics is the emerging field of optimizing data, using technology, to improve patient care and research.

“This fellowship is meant for the physician trying to pursue a more effective use of biomedical data to improve health,” said Dr. Silverman. “This represents another way we are training the next generation of physicians to thoughtfully utilize information technology to improve the quality and safety of clinical care.”

The American Medical Informatics Association has defined the fellowship as one in which physicians will pursue the effective uses of biomedical data, information, and knowledge for scientific inquiry, problem solving, and decision making, motivated by efforts to improve human health. Notice of accreditation was received on Feb. 25.

The fellowship is a community-based initiative with a diversity of settings, projects and approaches and is open to physicians of all specialties following completion of a primary residency. Fellows will take on rotations, projects and electives, as well as eight online core content courses from Oregon Health and Science University, totaling 24 credits, and resulting in a Graduate Certificate in Biomedical Informatics from the Oregon school. The major teaching sites are Banner Health, Dignity Health, Maricopa Integrated Health System, Phoenix Children’s Hospital, the Phoenix VA Medical Center and the State of Arizona Office of Public Health Statistics.

summer energy demand

How to prepare your A/C and home for summer

After nearly 40 years of serving Valley families, the techs at Donley Service Center have pretty much seen it all. They’ve provided relief during Phoenix’s all-time record high of 122 and warmed plenty of homes not used to below freezing temperatures.

While July is usually our hottest month, now is the time to prepare your air conditioner and home to ensure the lowest energy bills and maximum efficiency. Donley experts are available to discuss the following tips:

Change your air filter

• Our dry, dusty climate can quickly clog your filter, which can lead to higher energy bills and more repairs. It’s a good idea to clean or replace your filter every month.

Clearing and cooling the area

• Planting shrubs or trees can provide shade to the a/c unit, which leads to less electricity being used. But, not too close or you’ll restrict airflow. Make sure the area is free of leaves, weeds and debris.

Seal the leaks

• The fastest way to save money is to use caulk or weather-stripping on your doors and windows.

Set it and forget it

• You won’t conserve energy by constantly changing the thermostat. Set it at the highest comfortable level and leave it. Or, try a programmable thermostat that will automatically adjust for times you are away and sleeping. Note: Keep your set back point 4 degrees or less when setting a programmable thermostat.

Use ceiling fans

• They move the air so you feel cooler, but turn them off when no one’s in the room.

Move the lamps

• Thermostats can pick up the heat from lamps, TV’s and appliances so keep them away.

Invest in sunscreen

• Keep blinds and drapes closed and install sunscreens to keep the heat out.

Although the Environmental Protection Agency saysthe average air conditioner lasts 15 to 20 years, in Arizona we generally experience a shorter life span – closer to 12-15 years. While it may seem like a pretty wide span, we know that properly maintained units that are checked annually by qualified technicians last the longest and run the most efficiently during our triple digits.

lease

NexMetro will build leased-home neighborhood in Chandler

Phoenix-headquartered NexMetro Communities, America’s builder of next-generation leased–home neighborhoods, announces the purchase of 15 acres at the northeast corner of Warner Road and Grace Boulevard, just west of Arizona Avenue, in Chandler, Arizona, where it plans to develop 194 homes. The development will feature one, two, and three bedroom floorplans and continues the developer’s charter of building single-family, detached homes for lease that cater to lifestyle-conscious consumers.  The deal, which closed on March 2, is part of NexMetro’s aggressive growth strategy for 2015.

The acquired property is less than two miles from Chandler’s Downtown District, and nearby to Gilbert’s Heritage District, both of which have undergone extensive redevelopment initiatives in the last several years.  With only two multifamily properties constructed in the area over the last 11 years, the construction of the new Avilla Homes neighborhood is expected to be a significant catalyst in the community’s revitalization, attracting higher-income residents seeking a quality lifestyle. 

Ground breaking is expected to occur in April, and homes will be ready to lease at the end of 2015.  Another Avilla neighborhood in Chandler, Avilla San Marcos, opened in two phases in 2014, and today has 257 homes located at Alma School and Pecos Road. 

“The City of Chandler is excited to see a project that is consistent with the recommendations of the Mayor’s 4-Corner committee to redevelop older, challenged commercial space,” said James Smith, Economic Development Program Manager.  “The Avilla Grace development fits our strategy of bringing increased density and activity to intersections with underperforming commercial space. The influx of new residents will help support the remaining commercial space and provide density on an important transit corridor.” 

NexMetro and its affiliated companies have been developing Avilla Home neighborhoods since 2011 when the first neighborhood opened in Tucson. Construction is currently underway in Goodyear at Avilla Palm Valley where 125 homes are expected to be available for lease this spring.  Additional development in Arizona is scheduled throughout 2015 with four new neighborhoods planned in Chandler, Gilbert and Queen Creek. The company is also actively developing in other Sunbelt cities such as the Dallas suburbs of Plano and McKinney.

“It’s rewarding to see that our projects, including the Avilla Grace neighborhood, are highly anticipated, and even more so knowing that there is potential to bring a real vibrancy to an area previously considered undesirable.  Avilla Grace not only provides consumers with a worry-free lifestyle that allows them to enjoy the luxuries of home ownership without the burdens, but also enhances quality of life with close proximity to employment, entertainment and shopping districts,” said Josh Hartmann, Executive Vice President, NexMetro. 

BILL SOWDERS

William S. Sowders joins Gust Rosenfeld

Gust Rosenfeld, PLC announced that William S. Sowders joined the firm on March 2, 2015.  Sowders’ practice is concentrated on litigation, specifically in the areas of products liability, medical malpractice and healthcare, transportation, and accident and personal injury.

“Bill is a highly respected lawyer who brings a wealth of experience in litigation, in particular in the insurance defense field,” said Richard B. Hood, partner and member of the Executive Committee. “He is widely published and well known in the legal and the civic communities.  We look forward to having him join us at Gust Rosenfeld.” 

William Sowders received his J.D. from The Catholic University of America, Columbus School of Law and completed his B.S. degree at Northern Arizona University.  In 2012 and 2013, Sowders was honored as one of Super Lawyers® Rising Stars. He has published in several professional journals, and conducted a webinar on “Medical Records Review and Analysis.”  Sowders is a member of the State Bar of Arizona, the State Bar of California, and the Maricopa County Bar Association. 

“I am very excited to join Gust Rosenfeld. The firm has fantastic attorneys across the board.  I’m looking forward to bringing my trial experience to an already strong litigation group and making our team evening stronger,” said Sowders.

Gust Rosenfeld is a full service law firm established in 1921 with offices in Phoenix, Tucson and Wickenburg. The firm is known for the quality of its lawyers and legal advice as well as its creative insights and practical solutions in business, public and civil law.  Gust Rosenfeld is experienced in alternative dispute resolution, bankruptcy and creditors’ rights, business and corporate law, commercial finance, education law, environmental law, franchises and franchising, insurance, intellectual property, labor and employment, litigation, natural resources, public finance, public law, real estate, taxation, and trusts and estates.

MG Properties buys Trillium Papago Apartments for $36M

 MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of the Trillium Papago Apartments in Phoenix, Arizona.

The property consists of 270 luxury apartments built in 2007. The property features an exceptional array of common area amenities, including a resort-style pool and spa, modern fitness center, movie theater, and pool room.

The property is located north-east of Phoenix Sky-Harbor Airport, providing convenient access to multiple job corridors within the region. MGPG plans to rebrand the property as Ascent at Papago Park. Units include nine-foot ceilings, full-sized washers and dryers, and a mix of 1, 2, and 3-bedroom floor plans. 

Trillium Papago was purchased for $36,220,000 from Trillium Residential. The acquisition was financed with a 10-year fixed-rate mortgage from Fannie Mae, arranged by CBRE. 

According to Mark Gleiberman, MG Properties Group Chief Executive Officer, “This acquisition reflects our continued belief in the long term growth potential of the Phoenix market. The property’s excellent design and central location position it well to benefit from further growth in the region.”

Trillium Papago marks MG Properties Group’s fourth acquisition in the past six months.  The four acquisitions totaled approximately 700 units and $125,000,000 in combined purchase price. The company is targeting further acquisitions in Arizona, California, Colorado, Nevada, Oregon, and Washington.