Tag Archives: Rob Martensen

Photo: Mike Mertes, Az Big Media

After Hours: Wheelin’ and dealin’ Rob Martensen

Photo by Mike Mertes, Az Big Media

Photo by Mike Mertes, Az Big Media

Colliers International Senior Vice President Rob Martensen has been involved in more than 600 transactions, including industrial sales, leasing, build-to-suits and land sales, but when he isn’t making a deal he is in the driver’s seat.

How did you get into off-road racing?

I just grew up going to the races and got the opportunity to do it myself when I was in college and have been racing ever since.

 

What type of racing do you do?

I do desert racing mostly, which includes races like the Baja 1000. I have raced in 10 Baja 1000s and those are long-distance endurance races. I also race in short-course, off-road racing where there are cars all around you, flying over you and under you, flipping and crashing right in front of you. But, those races only last 14 laps, so 20 minutes and you are done. In the long races, you are in the truck for 10 to 12 hours at a time.

What is it like being in the driver’s seat?

A lot of people who played competitive sports when they were young will understand. There is a feeling you get inside before you hit the field; it is a nervous energy kind of a feeling. Most people after they graduate from high school do not get to experience that feeling again. Sure, there are pockets of adrenaline if you are going after a big deal or something you get kind of excited about, but nothing like that feeling you got before you stepped on the field. Racing is one of the ways to get that feeling again and I think that feeling keeps you young.

Is racing similar to business?

They are very similar, especially desert racing. You are out in the middle of the desert and if you have a problem with the truck or crash or something, you have to overcome that without anyone’s help. The biggest thing in desert racing is no matter what, you just always try to get to the finish. If your transmission breaks, you figure out how to get it fixed. If you get a flat tire, you change it. If you get stuck, you figure out how to get yourself out. You never give up. The Baja 1000 is like a real estate deal: you are excited at the beginning and then you start getting into it and you run into problems and work through those problems and when you get to the finish line, like when you close a deal, everyone is happy.

What is your best business advice?

Have fun doing what you’re doing. I like to mix my business with my fun. It is a lot more work to throw a big event at a race, but if I get one deal out of this the whole event pays for itself. If I don’t get a deal out of it, I still had a great time and I have given people an experience they probably would never have had. Mix business with pleasure and just have fun!

The Offices at Reems in Surprise were recently exchanged through a 1031 deferral, handled by Colliers International's Rob Martensen.

The great exchange: How 1031 exchanges affect local markets

With the talk of tax reform that would repeal or limit 1031 Exchanges, the global effect of changing like-kind deals is in the spotlight.

Section 1031 Exchanges, or like-kind exchanges, are used in commercial real estate to allow investors to reinvest their profits into a new property through an exchange of a similarly valued property and defer the taxes from the sale.

The proposed limitation in President Barack Obama’s 2016 budget would cap a deferral of capital gain at $1M.

“Historically, Section 1031 deferral has been justified on the basis that valuing exchanged property is difficult,” according to the U.S. Treasury Department’s general explanations of the administration’s 2016 budget. “However, for the exchange of one property for another of equal value to occur, taxpayers must be able to value the properties. In addition, many, if not most, exchanges affected by this proposal are facilitated by qualified intermediaries who help satisfy the exchange requirement by selling the exchanged property and acquiring the replacement property. These complex three-party exchanges were not contemplated when the provision was enacted. They highlight the fact that valuation of exchanged property is not the hurdle it was when the provision was originally enacted. Further, the ability to exchange unimproved real estate for improved real estate encourages ‘permanent deferral’ by allowing taxpayers to continue the cycle of tax deferred exchanges.”

“Every commercial property potentially could be a 1031 Exchange,” says Dave Tornell, vice president for Investment Property Exchange Services, Inc. (IPX 1031) in Arizona and New Mexico.

Colliers International Senior Vice President Rob Martensen closed three 1031 Exchanges last December, only one of which he believes would have been able to happen without the option of an exchange.

Tornell and Phoenix Commercial Advisors Senior Managing Director Chad Tiedeman project that about 40 percent of transaction volume is influenced by 1031 Exchanges. At PCA alone, the team’s three investment brokers sold 23 retail investment properties totaling more than $100M. Fifteen of those sales, a majority, had buyers who used 1031 Exchanges. Martensen and Tiedeman note that a significant percentage of buyers are Californians looking for higher cap rates.

A repeal of the tax section would raise tax burdens on those involved in transactions, which can lead to longer holding periods, reliance on debt financing and less productive deployment of capital in the economy, according to an Ernst & Young study released in March and commissioned by the Section 1031 Like-Kind Exchange Coalition.

“It’s important in general. It gives people more reason to trade a property,” says Martensen. “I don’t need to do the research to know that if 1031 were not allowed anymore, it would have a major impact on the economy.”

The largest 1031 Exchange last year occurred in New York City, when the Waldorf Astoria Hotel went for $1B. In Arizona, the largest exchange in 2014 was a $50M land deal.

“As for 1031 Exchanges in Arizona, we are close to 2004 levels,” says Tornell. “The market has recovered significantly from the bottom, which was 2009. During 2009, 2010 and most of 2011, 1031 transactions were almost nonexistent. Then, as the markets started to recover and every year since, we have seen an increase in 1031 activity. One of the larger qualified intermediaries had a 32 percent increase in transactions from 2013 to 2014 and the first quarter of 2015 is up over last year.”

Furthermore, Tiedeman, who does not support the proposed changes, adds that one-third of jobs in Arizona are tied to real estate in some capacity.

“If the law did get repealed, it would be devastating,” he says.

Rob Martensen, Photo by Mike Mertes for AZ Big Media

VIDEO: Colliers’ Rob Martensen competes in Lucas Oil race

AZRE magazine interviewed Colliers International in Greater Phoenix Senior Vice President Rob Martensen, who recently competed in the Lucas Oil Off Road Racing Series at Wild Horse Pass Motorsports Park in Chandler. Art Director Mike Mertes was there to film him in action on April 28. (Martensen is the blue vehicle before the end of the clip!)

Read a full interview with Martensen about his unique hobby in the July issue of AZRE.

Courtesy of Colliers International

16 acres of Avondale farmland sell for $1.44M

Colliers International in Greater Phoenix recently completed the investment sale of 16-acres of farmland in Avondale for $1.44 million, or $90,000 per acre.

TGV Investments LLC of Phoenix purchased the land, located at the southwest corner of Lower Buckeye and Avondale Boulevard, from Hudson Realty Capital LLC of New York City.

Paul Holland, vice president, John Finnegan, senior vice president, Chaz Smith, senior vice president, Ramey Peru, associate vice president and Adam Hood, senior associate; all of Colliers International, represented the seller. The buyer’s agent was Rob Martensen, CCIM, SIOR, senior vice president with Colliers.

The alfalfa-farmed land was purchased as part of a 1031 exchange. East of the Agua Fria River, the property is in a mixed area of farmland and single-family homes with La Joya Community High School to the north.

“Hudson is liquidating to use funds for other properties,” said Holland, who has worked with the firm previously. Hudson Realty Capital is a middle market real estate finance company focused on originating, purchasing and servicing debt secured by commercial real estate.

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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.

Main Photo_Chandler CC

Colliers Int. sells Chandler Corporate Center

Colliers International in Greater Phoenix recently completed the sale of the Class A, 68,443-square-foot Chandler Corporate Center II, which was 100 percent occupied at the time of the sale.

Palisades Capital Realty Advisors of Los Angeles purchased the building, located at 500 North Juniper Drive in Chandler, from The Rockefeller Group.

Mindy Korth, executive vice president, Phil Breidenbach, executive vice president, and Kirk Kuller, vice president, of Colliers International, represented the seller.

Chandler Corporate Center earned a LEED (Leadership in Energy and Environmental Design) Silver Core and Shell Certification. The building was constructed in 2009 on 8.75 acres within Chandler Corporate Center North, a master-planned business park at the northwest corner of McClintock Drive and Chandler Boulevard. Three of the five tenants in the two-story office building are institutional-quality companies that account for 76 percent of the space.

Breidenbach, along with Paul Sieczkowski, executive vice president, and Rob Martensen, vice president, with Colliers International in Greater Phoenix, also represent The Rockefeller Group on the recently completed 82,000-square-foot Chandler Corporate Center III, which is available for immediate occupancy. Additional land is also targeted for the future Chandler Corporate Center IV.

“Palisades Capital Realty Advisors is the perfect buyer for this transaction,” Korth said, explaining, “This is the twin building to 585 North Juniper Drive, their first Phoenix-area purchase, which they acquired earlier this year. Both buildings were purchased as stabilized assets with outstanding tenant rosters.”

As a whole, Chandler Corporate Center North is a 75-acre business park that will contain 1.28 million square feet of building area at completion. It is surrounded by a vast number of daytime amenities and three freeways—Loop 202 to the south, I-10 to the west, and Loop 101 to the east—providing Valley-wide access. Chandler Fashion Center is a mile to the east.

In addition to the Chandler Corporate Center properties, Colliers also markets The Rockefeller Group’s other Phoenix area properties, which include Rockefeller Group Chandler 101, Rockefeller Group North Gateway, Rockefeller Group Chandler Crossroads and Rockefeller Group Gilbert Crossroads.

 

Rob Martensen Transaction

Colliers completes $5.8M sale of flex industrial buildings

Colliers International in Greater Phoenix recently completed the sale of three showroom/flex industrial buildings in Mesa, Ariz. for $5.8 million, or $61.03 a square foot.

Rob Martensen, Colliers International

Rob Martensen, Colliers International

Tucson-based Holualoa Companies purchased the buildings, located at the Superstition Springs Commerce Center, from AEW Capital Management of Boston, Mass.

Rob Martensen, SIOR, CCIM, vice president of Colliers, served as the broker for the buyer and seller. Martensen is a member of the Society of Industrial and Office Realtors (SIOR) and is a Certified Commercial Investment Member (CCIM) of the Commercial Real Estate Institute. Martensen specializes in industrial sales, leasing and land development.

The buildings, encompassing 95,035 square feet, were constructed in 2001.

“Holualoa hopes to capitalize on the recovering industrial market, specifically in the residential housing construction arena. There are few spaces available in close proximity to the new Eastmark community. Superstition Springs Commerce Center can accommodate contractors and suppliers of home-related products to supply this growing area,” Martensen said.