Tag Archives: PICOR

Barbi Reuter named COO of C&W | PICOR

Barbi Reuter, PICOR

Barbi Reuter, PICOR

At its September Shareholder meeting, Cushman & Wakefield | PICOR named Barbi Reuter its Chief Operating Officer (COO), formalizing her work over the past several years.

Reuter has been with C&W | PICOR since its inception in 1985, a Shareholder since 1992, and has been an integral and critical part of the success enjoyed by the Tucson-based commercial real estate services firm throughout its growth in community market share and leadership.

As COO, Reuter leads the internal finances and operations of C&W | PICOR in addition to her externally-facing roles as the firm’s interface with Cushman & Wakefield, Inc., community and industry outreach, marketing business development, and social media.

President and CEO, Mike Hammond says, “Barbi has met and exceeded all expectations over the last 29 years and will no doubt continue to contribute greatly to the success of C&W | PICOR in this role.” Rob Glaser, CCIM, SIOR, says of his long-time C&W | PICOR colleague, I have worked with Barbi since C&W | PICOR was founded in 1985. She is very skilled, creative, and caring, and we are very fortunate to have her.”

Named a 2012 Woman of Influence by Inside Tucson Business, Reuter is a past local and national leader for BOMA International and is now active with the Tucson Metro Chamber, CREW Network, Women Presidents’ Organization, Greater Tucson Leadership, Arizona Town Hall, International Council of Shopping Centers (ICSC), Tucson’s Leading Women, PICOR Charitable Foundation, and is Board President for Tucson Girl Chorus and a Tucson CREW board member and Past President.

bakehouse-bread v2, WEB

Bakehouse Bread Company buys 22KSF in Tucson

CBRE has negotiated the purchase of a 22,500-square-foot industrial facility for Bakehouse Bread Company. The property is located at 2520 N. Jackrabbit Ave. in Tucson. The asset commanded a sale price of $1.35 million.

 

Tim Healy and Bob DeLaney with CBRE’s Tucson office represented Bakehouse Bread Company in the transaction. The landlord, Michael and Janet Gompper, was represented by Steve Cohen with PICOR/Cushman & Wakefield.

 

We are incredibly excited about this next phase of growth, said John McKearney, who founded Bakehouse with his wife Nancy in 1996 after relocating to Tucson from Michigan. “The Greater Tucson community, and Arizona as a whole, has been supportive of our company from day one welcoming Bakehouse Bread Company with open arms. I think that response speaks to the quality of our product, but also says a great deal about the community’s desire to support local business, too.”

 

This purchase marks an expansion for the Tucson-based artisan-bread wholesaler, relocating its operations from its leased 7,875-square-foot facility located at 2550 N. Dragoon in Tucson. With the expansion of its physical footprint, Bakehouse Bread Company also has plans to expand its employee base to accommodate the growth of the company and better serve the needs of its expanding customer list.

 

First opened as retailer Village Bakehouse in June of 1996, the company grew rapidly. In 2001, founders John and Nancy McKearney decided to focus solely on the wholesale side of the operation, sold the retail locations, and Bakehouse Bread Company was born. The artisan-bread company now partners with many local restaurants, caterers, resorts, markets and institutions in the greater Tucson and Phoenix markets. Current notable clients include Fox Restaurant Concepts, the University of Arizona, Fry’s Food Stores and Trader Joe’s, among others.

 

This transaction really is indicative of the overall state of the industrial market in Greater Tucson as the metro area continues to be in need of functional industrial space,” said CBRE’s Healy. “John and Nancy have been looking to purchase a facility over the last several years; finding the right property to fit their needs was a challenge and really a matter of timing due to the lack of quality and available product online at any given time.”

 

A recent study by CBRE reports that 83 percent of industrial buildings in Greater Tucson are 14 years old or older. The challenge for new tenants/users or existing tenants/users that would like to expand is finding existing space that meets their requirement as a large portion of vacant buildings are becoming functionally obsolete. As this trend continues, desirable space will be leased or purchased, vacancy will decrease, rental rates will increase and speculative development will be required.

 

PICOR reports recent transactions

1025_1075 E Ft LowellCODAC Behavioral Health Services purchased the 18,606 square foot office building located at 1025-1075 E. Fort Lowell in Tucson from Ventura Canyon Property, LLC. Tom Knox, SIOR and Paul Hooker, with Cushman & Wakefield | PICOR, represented the buyer. Dan Wesson with The Waterfall Group represented the seller in this transaction.


Marana Health Center, Inc. leased 16,243 square feet, filling nine suites at 3690 S. Park Avenue in Tucson from William Lee, LLC. Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Tina Olson

Tina Olson Promoted at Cushman & Wakefield | PICOR

Cushman & Wakefield | PICOR announces the March 1st promotion of Tina Olson, RPA FMA, long-time Principal and Commercial Property Manager, to Director of Property Management. After a career of progressive promotions since joining C&W | PICOR in 1994, Olson became a shareholder in 2008. Her internal and external leadership with key client Tucson Medical Center, the PICOR Charitable Foundation, and Building Owners and Managers Association (BOMA) Greater Tucson paved the way for this new opportunity.
Olson takes the helm of Cushman & Wakefield | PICOR’s market leading team, which stewards over four million square feet of office, retail, medical, and industrial space for investors and non-profits in southern Arizona. With seven commercial property managers averaging 15 years of industry experience, the Property Management Division has buying power in the Tucson market as well as depth of expertise to assist local and corporate owners in maximizing their asset value, and taps the resources of Cushman & Wakefield for the benefit of its clients.

604 N. 6th Ave.

PICOR Releases Recent Transaction List

Magnetmod, LLC leased 1,200 square feet at 4500 E. Speedway Boulevard, Suite 65 in Tucson from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Jungle Partners, LLC leased 1,200 square feet at 4500 E. Speedway Boulevard, Suite 35 in Tucson from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

MPC Design Technologies Arizona, LLC leased 1,300 square feet at 4575 S. Palo Verde Road, Suite 327 in Tucson from Presson Equity Partners, LLP.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

MedOne Healthcare, LLC leased 3,622 square feet at 1870 W. Prince Road, Suites 69 – 71 in Tucson from Presson Corporation.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Pacific Insulation renewed their lease for 10,000 square feet at 3761 E. 43rd Place, in Tucson from JDHL Investments.  Pacific Insulation is the Southwest’s leading commercial and industrial insulation distributor/fabricator with locations in Southern California, Northern California, Arizona and Nevada. Russell W. Hall, SIOR, GSCS and Stephen D. Cohen, Principals and Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction and Tim Healy of CB Richard Ellis represented the tenant.

CODAC Behavioral Health Services of Pima County of Tucson leased 16,999 square feet at 3130 E. Broadway Boulevard in Tucson from LC 3130, LLC.  Tom Nieman, Principal and Office Specialist, with Cushman & Wakefield | PICOR, represented the landlord and Tom Knox, SIOR, Principal and Office Specialist and Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.

University City Church purchased a 34,163 square foot church, a historic landmark structure built in 1925, at 604 N. 6th Avenue in Tucson, Arizona, from Crosslife Ministries for $1,900,000.  Rob Tomlinson, Retail Specialist and Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction.

3895 Business Center Drive

PICOR Releases Recent Transaction List

Lillian Vasquez leased 442 square feet at 3045 N. 1st Avenue, Unit F in Tucson from Foothills Business Ventures, LLC.  Tom Nieman, Principal and Office Specialist and Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord.

Top Notch Barber Shop leased 923 square feet at 4555 S. Palo Verde Road, Suite 131 in Tucson from Presson Equity Partners, LLP.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Remilaku Stewart Nash & Tyrone T. Nash leased 800 square feet at 4500 E. Speedway Boulevard, Suite 85 in Tucson from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RCD Demolition leased 1,000 square feet at 2112 N. Dragoon, #8 from Rich Rodgers Investments, Inc.  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

CQR Holdings, LLC leased 1,067 square feet at 4500 E. Speedway Boulevard, Suite 6 in Tucson from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Jason D. Moyle PLLC leased 1,212 square feet at 3275 W. Ina, Suite 103 in Tucson from Caldor Investments of Arizona, LLC.  Tom Nieman, Principal and Office Specialist with Cushman & Wakefield | PICOR, represented the landlord and Gary Best with KW Commercial Services represented the tenant in this transaction.

SW Institute for Bio-Advancement leased 1,272 square feet at 4500 E. Speedway Boulevard, Suite 113 in Tucson from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Sari-Sari Filipino Market leased 1,278 square feet at 6540 E. 22nd Street in Tucson from Tierra del Sol Commercial Center, LLC.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, handled the transaction.

Maricopa Water Processing Systems, Inc. leased 1,440 square feet at 1870 W. Prince Road, Suite 7 in Tucson from Presson Corporation.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

ALAS, LLC leased 1,452 square feet at 6510 E. 22nd Street in Tucson from Tierra del Sol Commercial Center, LLC.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, handled the transaction.

Lucio Pineda purchased a 2,400 square foot building at 5051, 5033 & 5055 S. 12th Avenue in Tucson, Arizona, from Rio Verde Ventures, Inc. for $157,500.  Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction and Beatriz Parada Bohon with Liberty Properties and Associates, represented the buyer.

Dawn Brandt leased 2,080 square feet at 2044 E. 14th Street from Michael & Jeanne Williams.  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

CPE Consultants, LLC leased 2,932 square feet at 3895 N. Business Center Drive, Suites 115 in Tucson from NTBC Trust Partners, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Southwest Medical Aid leased 3,520 square feet at 4500 E Speedway Boulevard, Suites 22-23 in Tucson from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

ASL USA, Inc. leased 6,000 square feet at 4161 E. Tennessee, #339 from Tic Tac Partnership.  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.

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Tucson Commercial Real Estate Market Review

PICOR released the following Tucson commercial real estate market review:

Office

The Tucson office vacancy rate ended 2013 in familiar territory, at 12.2%, with medical and associated uses continuing to shine more brightly than financial and service sector requirements. Investment activity picked up in the fourth quarter, with seven of the ten largest buildings sold to users in service and technology fields. We expect mild improvement across the market in 2014 with job creation the key to meaningful absorption.

Retail

On the strongest annual net absorption since 2008 (728,000 sf), the Tucson retail market improved to 7.1% vacancy at year end 2013, versus 7.9% a year before. Lease rates appear to have bottomed out, with average asking rates citywide at $14.32 psf/year. Deliveries for the year totaled almost 400,000 sf, the highest level of construction in four years. This construction was driven by tenant activity, rather than speculative development.

Industrial

The Tucson industrial market made significant headway over the course of 2013. Positive absorption of 770,000 sf allowed vacancy to improve 1.5 percentage points (pps) year over year to end the year at 10.5%, led by small business growth. Upward pressure on rents became more notable in small spaces, but not significantly enough to impact values. On the investment side, pricing pressure remained as continued REO product washed through the market. Look for continued gradual improvement in the year ahead.

Multifamily

2013 saw increases in unit absorption, average rental rates and occupancy rates, ending at a 9.41% vacancy rate on absorption of 754 units. Monthly rents increased $8 per unit to $637. Sale activity dropped sharply in 2013 due to stagnant NOIs and the midyear jump in interest rates. Expect a multi-year increase in trading activity beginning this year, thanks to improving fundamentals and heightened investor interest as other markets become overpriced.

Coopers DIY, LLC purchased a 12,640 square foot retail building at 3366 N. Dodge Boulevard in Tucson from Commerce Bank of Arizona for $906,000.

PICOR Releases Recent Transaction List

PICOR | Cushman & Wakefield announced the following transactions:

Friendly Park, LLC purchased 4.1 acres of land at 701 E. 36th Street in Tucson from Bike Family Trust for $313,000.   Bob Kaplan, Investment Specialist and Rob Glaser, SIOR CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the buyer in this transaction.

Butterfield photoMaxServ, Inc. renewed their lease for 64,982 square feet at 4755 South Butterfield Drive in Tucson from the 3430 Sunrise, LLC.  Rob Glaser, SIOR CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, and Chris Sido with Swearingen Realty Group represented the tenant in this transaction.  The landlord was represented by Rob Fischrupof with Vast Real Estate Solutions.

Coopers DIY, LLC purchased a 12,640 square foot retail building at 3366 N. Dodge Boulevard in Tucson from Commerce Bank of Arizona for $906,000.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the seller in this transaction while Ryan McGregor with Keller Williams Southern Arizona represented the buyer.

Kerry Seidenglanz purchased Stone Leaf Apartments, a 60 unit apartment complex, at 334 W. Valencia in Tucson from Wayne Gould for $1,250,000.  Allan Mendelsberg, Investment Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction.

SVP Holdings, LLC purchased Bellevue Apartments, a 20 unit apartment complex, at 3414 E. Bellevue in Tucson from Richard Kupinski for $642,000.  Allan Mendelsberg, Investment Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction.

Crossfit Tucson leased 2,923 square feet at 3820 S. Palo Verde, Suites 107 and 108 in Tucson from Palo Verde Trust Partners, LLC.  Rob Glaser, SIOR CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Tawheed Community Center leased 1,600 square feet at 4500 E. Speedway, Suite 15 in Tucson from Presson Midway, LLC.  Rob Glaser, SIOR CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Maureen Erhardt, CPA, PC leased 1,085 square feet at 1955 W. Grant, Suite 165 in Tucson from WestGrant Limited Partnership.  Ron Zimmerman, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Holy Cross Presbyterian Church leased 1,293 square feet at 7730 N. Cortaro, Suite 103 in Tucson from Cortaro Retail, LLC.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord and Steve Nissen with Long Realty represented the tenant.

Crossfit Fixx, LLC leased 3,600 square feet at 8987 E. Tanque Verde in Tucson from Bear Canyon Associates, LLC.  Patrick Welchert, SIOR, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant and Pete Villaescusa of CBRE represented the landlord in this transaction.

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Cushman & Wakefield|PICOR release recent transactions

Cushman & Wakefield | PICOR announced the following transactions in December:

Ftita, LLC purchased the 3,522 square foot office building located at 7370 N. La Cholla in Tucson, from Shakaz, LLC for $840,000.  Rob Glaser, SIOR, CCIM, with Cushman & Wakefield | PICOR, represented the buyer while Jordan Simon with Venture West represented the seller in this transaction.

NCS Pearson, Inc. leased 25,000 square feet at 4690 N Oracle Rd, Suite 50 in Tucson from The Tanager Company.  Greg Furrier, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction while Pat Darcy with Tucson Realty & Trust represented the tenant.

Vision Church purchased a 10,091 square foot building at 7511 N. Benet Drive in Marana, Arizona, from South Pacific District of the Christian & Missionary Alliance for $1,200,000.  Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction along with Robert Fletcher and Eric Knowles with Cushman & Wakefield San Diego.

The Starbucks Corporation leased 2,000 square feet at the southwest corner of Speedway & Pantano in Tucson from First Pioneer Properties.  Greg Furrier, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.

Guillermo Madariaga purchased the 10 unit apartment complex at 1741 E. Hedrick Drive in Tucson, from Rodos Apartments LLC for $800,000. Bob Kaplan and Allan Mendelsberg, Investment Specialists with Cushman & Wakefield | PICOR, handled this transaction.

2106 N. Forbes | Photo credit: CoStar

PICOR Releases Recent Transaction List

APX International, Inc. leased 20,078 SF at 2106 N. Forbes, Suite 101 & 102 in Tucson from MRI Saddlehorn Investment Fund II, LLC. Rob Glaser, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord.

TAP Royal leased 500 SF at 621 N. Grand Avenue, Suite D in Nogales from Angel Mendoza.  Denisse Angulo, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord.

Filipino American Christian Fellowship of Tucson leased 1,075 SF at 6506 E. 22nd Street in Tucson from Tierra del Sol Commercial Center, LLC.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord.

Tom Harrison leased 1,500 SF at 220 E. 27th Street, Suite F in Tucson from Tin Cup Properties, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord.

Witt Company leased 1,732 SF at 1200 E. Ajo, Suite 109 in Tucson from Ajo/Evans Business Park, LLC. Steve Cohen and  Russ Hall,  SIOR, GSCS,  Industrial Specialists with Cushman & Wakefield | PICOR represented the tenant and Pat Welchert, SIOR, Industrial Specialist and Jeff Zellet, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord.

Mort Kranitz Automotive Sales and Service, LLC. leased 1,926 SF at 2761 N. Stone Avenue in Tucson, Arizona from Wholesale Auto Exchange, Inc. Greg Furrier, Principal and Rob Tomlinson, Retail Specialists with Cushman & Wakefield | PICOR Commercial Real Estate Services represented the landlord and the tenant.

Filta Environmental Kitchen Solutions leased 2,500 SF at 3640 S. Campbell Ave, Unit 1 in Tucson from Strauss Revocable Living Trust. Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represent the landlord.

Swisher Hygiene USA Operations, Inc. leased 2,500 SF at 3640 S. Campbell Ave., Unit 2 in Tucson from Strauss Revocable Living Trust. Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Sam McGill with Grant Street Associates represented the tenant.

Kachina Business Solutions, an Image 2000 Company, leased 3,883 SF at 1951 W. Grant Road, Suite 180 in Tucson from Wright and Case Holdings, LLC. Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant and David Carroll with Romano Real Estate represented the landlord.