Tag Archives: Sean Cunningham

Symphony Apartments

Symphony Apartments sell for $35.5M

CBRE has completed the sale of the Symphony Apartments, a 234-unit apartment complex located at 2225 W. Frye Rd. in Chandler, Ariz. The multifamily asset commanded a sale price of $35.5 million. The property was 95 percent leased at time of sale.

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office represented the institutional seller. The buyer was MIG Real Estate of Newport Beach, California.

The Symphony Apartments offer an excellent infill location in the heart of Chandler’s major employment and tech-hub. The property benefits from the strong corporate employment located to the southwest in the Price Road Corridor, as well as its adjacency to Chandler Regional Medical Center,” said CBRE’s Gunter. “Symphony also offers excellent access to neighborhood retail options as well as proximity to Chandler Fashion Center.”

Built in 1999, the Symphony Apartments offers one-, two- and three-bedroom floor plans, nearly half of which have recently undergone significant interior renovations. Community amenities include two resort lagoon-style pools with spa, wood-burning fireplace, veranda with bar seating and televisions, and stainless steel BBQ grills; clubhouse with wet bar, coffee station, and conference room; and complete fitness center including a private yoga room.

Sierra Vista I and II apartments, CBRE

Sierra Vista apartments sell for $23.825M in Tempe

CBRE has completed the sale of Sierra Vista I and II located at 710 and 615 S. Hardy Dr. in Tempe, Ariz. The garden-style apartment community consists of 239 and 228 units, respectively, and commanded a sale price of over $23.8 million.

Tyler Anderson, Sean Cunningham, Brian Smuckler and Jeff Seaman with CBRE’s Phoenix office represented the seller, Sierra Vista Apartments, LLC of Leawood, Kansas. Bert Kempfert, also with CBRE, represented the buyer, Newport Beach, Calif.-based FPA Multifamily, LLC.

Sierra Vista I and II offer a unique opportunity in an irreplaceable north Tempe location. The Tempe submarket is one of the most vibrant in the metropolitan area and will only continue to grow in the 21st century,” said CBRE’s Smuckler. “This 18-acre property has the potential to be redeveloped as a new core-plus multifamily community, capitalizing on not only the student population of ASU, but the numerous nearby mixed-use development projects currently underway.”

Sierra Vista I and II are both less than one mile west of downtown Tempe, ASU and Rio Salado, an innovative 840-acre mixed-use urban project designed to meet the recreational, environmental and economic needs of the Tempe community. The property benefits from proximity to the industrial parks north and east of US 60 in west Tempe, as well as to the high tech jobs corridor along the Loop 101 Freeway and the large and growing employment center surrounding Sky Harbor International Airport.

Built in 1975 Sierra Vista I is located on University Drive in Tempe. The property is situated on approximately 9.04 acres. Community amenities include two large swimming pools, sport court, handball court, leasing office, two on-site laundry facilities, secured access gates, picnic areas with charcoal barbecues and an internet café with coffee bar.

Sierra Vista II, which was built in 1971, is located on 7th Street just east of Hardy Drive in
Tempe. The property sits on approximately 8.96 acres and is attractively landscaped. Community amenities include a large swimming pool, 24-hour fitness center, two on-site laundry facilities, picnic areas with charcoal barbecues and access to all the amenities at Sierra Vista I.

Mark Boisclair Photography, Inc.

CBRE completes $65M sale of Parcland Crossing

CBRE has completed the sale of Parcland Crossing, a 383-unit apartment complex located at 800 W. Willis Rd. in Chandler, Ariz. The multifamily community, which sits just south of the 202 Freeway at the northeast corner of Willis and Alma School roads in Chandler, commanded a sale price of $65 million. The property was 93 percent leased at time of sale.

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office represented the seller, Alma School Apartments, LLC, a joint venture between Scottsdale-based Mark-Taylor, Inc. and Phoenix-based Kitchell Development Co. The buyer was PrivatePortfolio Group, LLC of Seattle, Wa.

Parcland Crossing is an extremely well-located asset. Population growth for the one-mile radius around Parcland Crossing has averaged 5.5 percent in the past three years and is projected to increase by almost 9 percent in the next five years,” said CBRE’s Cunningham. “The exploding population in the area has led to pent-up demand for housing and resulted in an incredibly brisk pace of lease-up activity at Parcland Crossing.”

Parcland Crossing is located in the heart of Chandler’s employment hub. The apartment community is located within a five mile radius of two Intel campuses, Bank of America, Wells Fargo, Chandler Regional Medical Center, eBay/PayPal, Verizon, Microchip, Freescale Semiconductor, Orbital Sciences, EDMC, and Avnet.

Built in 2013, Parcland Crossing features state-of-the-art one-, two- and three-bedroom units in ten floor plans. Community amenities include an elegant entry with controlled-access gate, a designer resident clubhouse, a resort-style swimming area, garage parking, 24-hour fitness center, resident business center, shaded children’s playground, a dog park, and a picnic area with gas barbeque grills.

CBRE - UDR - Waterford

CBRE Negotiates Sale Of 1,744-Unit Multi-Family Portfolio In Metro Phoenix

CBRE has negotiated the sale of six class A multi-family communities, consisting of 1,744 units in the greater Phoenix area.

Vice Chairmen Tyler Anderson and Sean Cunningham, and Associate Asher Gunter of CBRE’s Phoenix office represented the seller, UDR Inc. of Highlands Ranch, Colo., in structuring the sale of its remaining Phoenix-area assets. The buyer was a fund managed by DRA Advisors LLC of New York City and The Milestone Group LLC of Dallas. The total purchase price was not disclosed.

The portfolio, which has an average occupancy of 95%, includes:

  • Finisterra: Built in 1996, this 356-unit community at 1250 W. Grove Parkway in Tempe
  • Lumiere: Built in 1995, this community was converted to condominiums in 2007. Of the 320 total units, 248 were acquired in this transaction. The property is at 1100 N. Priest Drive in Chandler
  • Residences at Stadium Village: Built in 2009, this 382-unit community is at 16485 N. Stadium Way in Surprise
  • Sierra Canyon: Built in 2000, this 236-unit community is at 17500 N. 67th Ave. in Glendale
  • Sierra Foothills: Built in 1999, this 322-unit community is at 13601 S. 44th St. in Phoenix
  • Waterford at Peoria: Built in 2008, this 200-unit community (above photo) is at 14109 N. 83rd Ave. in Peoria

“The Phoenix multi-family market is extremely well positioned to benefit from the current recovery. Job and population growth are rising and market rents are projected to continue to improve,” Anderson said. “This acquisition will not only allow DRA to capitalize on the economic upswing, it immediately gives it a major presence in the market.”

The six Arizona assets are part of a larger portfolio offering that DRA is acquiring from UDR. The other eight multi-family communities are located in Florida, Texas and Virginia.

Andante Apartments

CBRE Negotiates $61.3M Sale Of Andante Apartments

CBRE negotiated the $61.3M sale of Andante, a 576-unit luxury apartment community at 15801 S. 48th St. in Phoenix.

Vice Chairmen Tyler Anderson and Sean Cunningham, and Associate Asher Gunter of CBRE’s Phoenix office represented the institutional seller, Andante Acquisition Corporation, in structuring the transaction. The buyer was Chicago-based Waterton Associates LLC.

Additionally, financing through Fannie Mae was arranged by Executive Vice President Brian Eisendrath and Senior Production Analyst Brandon Smith of CBRE Capital Markets Debt & Equity Finance in Los Angeles.

“Andante is located in the highly desirable Ahwatukee Foothills community, which continues to outperform the metro marketplace in terms of rental growth and demand,” Anderson said. “Multi-family fundamentals in this area are expected to remain strong for the long haul, benefiting from positive job growth in the Southeast Valley and the improving economy.“

Andante is the most recently developed multifamily community west of Interstate 10. The property offers luxury living with seven attractive floor plans, large living areas, nine foot ceilings, Roman tubs and full-size washers and dryers. Residents at Andante also enjoy three resort-style swimming pools, a designer clubhouse, a fully-appointed 24-hour fitness center, a business center and a dog park.

Developed in two phases in 1999 and 2001, Andante was 94% occupied at the time of sale.

red-awards-2012

2012 RED Awards: Winners & Honorable Mentions

Kitchell, DAVIS and Banner Health captured top honors Thursday night as Arizona Commercial Real Estate Magazine held the 7th Annual, 2012 RED Awards (Real Estate and Development) to recognize the biggest, best and most notable commercial real estate projects and transactions of 2011.

The event drew more than 400 CRE professionals to the Arizona Biltmore as winners and honorable mentions were selected from a record 116 nominations received in 12 project categories and individual and team broker categories.

Kitchell was named General Contractor of the Year; DAVIS was Architect of the Year; and Banner Health won Developer of the Year.

2012 RED Awards category winners:

Best Education Project: Grand Canyon University Arena; Best Hospitality Project: Westin Downtown Phoenix; Best Industrial Project: Dunn-Edwards Phoenix; Best Healthcare Project: Phoenix Children’s Hospital; Best Multi-Family Project: Devine Legacy on Central; Best Office Project: Fountainhead Office Plaza; Best Public Project: Virginia G. Piper Sports & Fitness Center for Persons with Disabilities; Best Redevelopment Project: Adelante Healthcare Surprise; Best Retail Project: iPic Theater/Tanzy/Salt; Most Challenging Project: Salt River Fields at Talking Stick; Most Sustainable Project: DPR Construction Phoenix Headquarters; and Best Tenant Improvement Project: Limelight Networks.

Merit Award winners were OASIS Hospital (Healthcare) and P.L. Julian Elementary School (Education).

Broker of the Year honors went to Jay Hoselton, Cushman & Wakefield, Individual Leasing; Ken Elmer, Commercial Properties Inc., Individual Sales; Bo Mills and Mark Detmer, Cushman & Wakefield, Team Leasing; and Tyler Anderson and Sean Cunningham, CBRE, Team Sales.

2012 RED Awards honorable mentions:

Education: NAU Health & Learning Center; Healthcare: Banner MD Anderson Cancer Center; Hospitality: Casino Del Sol Hotel Convention Center and Parking Structure Expansion; Industrial: Crescent Crown Distribution; Most Challenging: Arizona Science Center Phase III Remodification; Multi-Family: Phoenix Towers Terrace; Office: UniSource Energy Corporate Office; Public: Maricopa County Downtown Court Tower; Redevelopment: The Q Building at Paradise Valley Community College; Retail: American Sports Complex-Retail Center; Most Sustainable: Phoenix Children’s Hospital; and Tenant Improvement: Gap Fulfillment Center.


View photos from the 2012 RED Awards on our Facebook!


2012 winners can order Awards, Plaques & Reprints


red-awards-2012

RED Awards 2012: Brokerage Teams of the Year: Leasing & Sales, CBRE Sales

On March 1, AZRE hosted the 7th Annual RED Awards reception at the Arizona Biltmore in Phoenix to recognize the most notable commercial real estate projects of 2011 and the construction teams involved. AZRE held an open call for nominations and a record 116 projects were submitted by architects, contractors, developers and brokerage firms in Arizona. This year, the winner for Brokerage Teams of the Year: Leasing & Sales was CBRE Sales.


Brokerage Teams of the Year: Leasing & Sales

CBRE Sales

The Team: Tyler Anderson, Vice Chairman
Sean Cunningham, Vice Chairman
Sales Details: 26 transactions in Arizona (42 total)
$520M in value in Arizona ($1.08B total)

CBRE SalesTyler Anderson and Sean Cunningham of CBRE Sales defended their title as RED Awards Brokerage Team of the Year for sales. Their total dollar amount for the year exceeded $1B nationally; $520M in Arizona. They have received numerous awards for their valuable work and esteemed partnership. The team continues to be active members in the National Multi-Housing Council and Arizona Multi-Housing Association. Anderson is involved with the Urban Land Institute Multi-Family Blue Council and United Way. Last year Phoenix St. Mary’s High School inducted Cunningham into its Hall of Fame. Cunningham is also a member of the Phoenix Thunderbirds.

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Video by Cory Bergquist


RED Awards 2012 Winners & Finalists

AZRE Magazine March/April 2012

red-awards-2012

2011 RED Awards Winners & Honorable Mentions

On Feb. 22, AZRE hosted the 6th Annual, 2011 RED Awards reception at the Ritz-Carlton in Phoenix to recognize the most notable commercial real estate projects of 2010 and the construction teams involved. AZRE held an open call for nominations and more than 100 architects, contractors, developers and brokerage firms participated in the process. All the winning projects and brokers are featured on the following pages.

View pictures from the 2011 RED Awards.
View the 2011 RED Awards candid shots as well.

2011 winners can order Awards, Plaques & Reprints


The project categories include:

  • Office
  • Industrial
  • Medical
  • Mixed-Use
  • Most Challenging
  • Hospitality
  • Multi-Family
  • Retail
  • Sustainable
  • Redevelopment
  • Public
  • Education
  • Tenant Improvement
PLUS:

  • Developer of the Year
  • Architect of the Year
  • General Contractor of the Year
  • Broker/Broker Team of the Year

Congratulations to all the 2011 RED Awards Winners

Best Hospitality Project, Small:

Winner:

The Phoenician Ballroom Expansion

Best Hospitality Project, Large:

Winner:

Talking Stick Resort

Best Industrial Project:

Winner:

Keller Electrical

Honorable Mention:

Power-One (Phase I & II)

Best Medical Project:

Winner:

Diamond Children’s Medical Center at UMC

Honorable Mention:

Ryan House at St. Joseph’s Medical Center

Best Mixed-Use Project:

Winner:

CityScape

Honorable Mention:

Gila River Indian Community, District One Service Center

Most Challenging Project:

Winner:

Soleri Bridge & Plaza

Honorable Mention:

Maricopa County Security Building

Best Office Project:

Winner:

Chandler City Hall

Honorable Mention:

Mercy Medical Commons

Best Multi-Family Project:

Winner:

Vi at Silverstone

Honorable Mention:

Sagewood, Phase 1

Brokerage Team: Leasing

Winner:

Tom Adelson, Kevin Calihan

Jim Fijan, Jerry Roberts

CB Richard Ellis

Brokerage Team: Sales

Winner:

Tyler Anderson, Sean Cunningham

CB Richard Ellis

General Contractor of the Year:

Winner:

Sundt Construction

Best Retail Project:

Winner:

Mountain Ranch Marketplace

Honorable Mention:

Scottsdale Pavilions – Theater/Food Court Renovation

Most Sustainable Project:

Winner:

White Tank Branch Library & Nature Center

Honorable Mention:

CREST Specialty School

Best Redevelopment Project:

Winner:

Phoenix-Mesa Gateway Airport

West Terminal Expansion Phase I

Honorable Mention:

Cowley Companies Warehouse Office

Best Public Project:

Winner:

Musical Instrument Museum

Honorable Mention:

Randall McDaniel Sports Complex

Best Education Project:

Winner:

Sedona-Oak Creek

Red Rock High School

Performing Arts Center

Honorable Mention:

Mesa Community College Red Mountain Campus

Best Tenant Improvement Project:

Winner:

Lumberyard Tap Room

Honorable Mention:

Polsinelli Shughart

Special Merit:

Winner:

Schuff Perini Climber

Broker – Leasing:

Winner:

Andy Kroot

Velocity Retail Group

Broker – Sales:

Winner:

Eric J. Wichterman

Cassidy Turley BRE Commercial

Developer of the Year:

Winner:

RED Development

Architect of the Year:

Winner:

RSP Architects


Presented by:

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Sponsored by:

D.P. Electric Logo
Weitz Logo
Clark Hill Logo

red-banner

Brokerage Team Of The Year For Sales 2011

CB Richard Ellis

Tyler Anderson, CB Richard Ellis

The Team:

Tyler Anderson, Vice Chairman

Sean Cunningham, Vice Chairman

Sales Details:

19 sale transactions in Arizona

$442M in value in Arizona

Sean Cunningham, CB Richard Ellis

Tyler Anderson and Sean Cunningham lead a dynamic, 9-person multi-family team in CBRE’s Phoenix office. Anderson and Cunningham have more than 57 years combined experience. Their team also consists of a sales associate, a senior financial analyst, three research analysts and two client service specialists. Their largest single transaction closed in 2010 was The Canyons, a 629-unit (475,524 SF) multi-family community in Phoenix. The property sold for $45.5M. Anderson and Cunningham are also involved in a number of industry groups and community organizations including the National Multi-Housing Council, Urban Land Institute, Phoenix Thunderbirds and Childhelp USA. Both are vice chairmen at CBRE.

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