Tag Archives: valley partnership

AZRE Digital Issue

AZRE Magazine May/June 2012

AZRE Magazine May/June 2012

Time flies when you’re having fun

Peter MadridAs I celebrate my second year as Editor of AZRE magazine in June, I ask myself … “Where did the time go?”

It seems as if it was just yesterday that I was trying to learn all I could about vacancy rates, foreign trade zones, REITs, BIM and CMARs … and then write about it.

After almost two years of attending at least 50 commercial real estate-related conferences, financial outlooks, breakfasts, lunches, discussions, you name it … I can honestly say I feel right at home among the many knowledgable professionals in attendance.

I guess you can teach an old dog new tricks.

Speaking of anniversaries, this issue features coverage of a well-respected advocacy organization (Valley Partnership) and a well-known general contractor (Hensel Phelps), which are both celebrating notable milestones.

» Valley Partnership, which proudly calls itself “The Valley of the Sun’s Premier Advocacy Group for Responsible Development,” is celebrating its Silver Anniversary — 25 years. Our coverage includes a roundtable discussion with six past chairmen and a Q&A with the new chairman.

» Hensel Phelps, a Colorado-based GC with major projects in Arizona, is celebrating its 75th anniversary (more than 30 years in our state). HP is wrapping up work on Stage I of the PHX Sky Train at Sky Harbor International Airport. It also has been selected to build a proposed 2,800-foot Solar Tower power station in La Paz County for EnviroMission of Australia.

As for my two-year anniversary celebration … I think I’ll just read up some more on cap rates, GPLETs, permitting regulations…

Editors Letter Signature

Peter Madrid, Editor

Take it with you! On your mobile, go to m.issuu.com to get started.

Real Estate Outlook

AZRE Magazine March/April 2012: Real Estate Outlook

March/April 2012:

2012 Real Estate Outlook

In this issue, AZRE taps key players from a variety of real estate-related disciplines and asks them to check their crystal balls and predict whether commercial real estate will soar, slump or stagnate in 2012. You’ll also find the winners and honorable mentions of the prestigious 7th Annual RED Awards. In addition, AZRE begins its coverage of Valley Partnership’s 25th anniversary with a roundtable discussion of federal issues that affect development in Arizona. Our annual “Construction in Indian Country” profile examines how Native American communities are building and investing in retail projects.

Take it with you! On your mobile, go to m.issuu.com to get started.

November Commercial Real Estate Networking Events

November Networking Events

November Networking Events

Western Maricopa Coalition (WESTMARC)

Best of the West Awards
Nov. 3 & 5 p.m.
9495 W. Coyotes Blvd., Glendale

Come join the Western Maricopa Coalition for its 19th annual Best of the West Awards, which celebrates the best of Western Maricopa County, recognizing outstanding contributions to the image, lifestyle and economic development in the county. Business or cocktail attire is required at this event. The reception starts at 5:30 p.m., while the dinner and awards start at 7:00 p.m.


NAIOP

NAIOP Golf Tournament
Nov. 17, 8 a.m.
9998 E. Indian Bend Rd., Scottsdale

Show off your best athletic skills at the NAIOP Golf Tournament at the Talking Stick Golf Resort. The pre-reception and registration begin at 8 a.m., with the shotgun start at 9 a.m. and the post-reception at 3 p.m.


Valley Partnership

Friday Morning Breakfast
Nov. 18, Dec. 16, 7 – 9 a.m.
2901 N. 7th St., Phoenix

Come check out Valley Partnership’s annual holiday wreath raffle at this month’s Friday Morning Breakfast, held at the Phoenix Country Club. Members are strongly encouraged to donate a holiday wreath, which will be presented and raffled off during the event. All proceeds from the raffle tickets will be donated to Maggie’s Place, the charity chosen for this year.


American Subcontractors Association of Arizona

Holiday Open House
Dec. 14, 4 p.m.
4105 N. 20th St., #230, Phoenix


Arizona Commerce Authority

Board Meeting
December 13, 10 a.m.
333 N. Central Ave., Phoenix

ACA focuses on recruitment of quality companies and jobs for Arizona as well as the expansion of established, local companies already here and will hold a board meeting December 13.

AZRE Magazine November/December 2011

AZRE, AZ Commercial Real Estate

AZRE | Arizona Commercial Real Estate

A bi-monthly publication that debuted in January 2005, AZRE | Arizona Commercial Real Estate is Arizona’s only publication dedicated to covering up-to-date happenings within commercial development, brokerage, finance, construction, architecture, real estate law and property management.

Additionally, Arizona Commercial Real Estate is an active voice within the commercial industry with local media partnerships to organizations such as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.

Pulling together the multiple facets of the commercial real estate industry in Arizona, Arizona Commercial Real Estate reaches out to the largest local and national commercial real estate audience within the Grand Canyon State, West Coast and beyond.

Arizona Commercial Real Estate has gained not only local, regional and national attention from its pool of readers, but international attention as well.

With a 25,000 circulation, AZRE began publishing its own annual publication, People to Know, in 2008. PTK is an annual resource guide and a useful informative tool that further supports the local industry’s mission to build great communities throughout the state of Arizona. AZRE created this publication to open new lines of communication, better inform those who enter our state, as well as connect natives who have seen the state prosper and grow over the years.


Read articles from AZRE’s September/October 2011 issue, or pick up a copy today:

AZRE Magazine Nov/Dec 2011 Cover

In this issue of AZRE, find out how Arizona’s Native American tribes are diversifying their economic portfolios in our Development section of the magazine. In our Centennial section, we feature the biggest and best commercial buildings in Arizona history; and DPR, Cannon Design and Banner Health are teaming up — find out why.


AZREMagazine.com

AZRE’s website features everything you’d find in the magazine, including new to market projects, including education, hospitality, industrial, IT and more; newsmakers, including awards, new hires and promotions; economic development, events, articles about green and sustainability, breaking commercial real estate news and more.

If you’d like to contact the editor of AZRE and send him press releases, story ideas and more, please email Peter Madrid at Peter.Madrid@azbigmedia.com.


AZRE | Arizona Commercial Real Estate’s Archive


Valley Partnership Community Project, AZRE May/June 2011

Valley Partnership Annual Community Project

The Valley Partnership Annual Community Project restored the old Phoenix Day playground.

The old playground at Phoenix Day was an assortment of aging equipment — it met state standards for safety but wasn’t quite what educators at the inner-city child enrichment center wanted: a fun, vibrant outdoor learning environment for children who usually don’t have access to great amenities.

All that changed last November when more than 100 volunteers from Valley Partnership descended on the Phoenix campus for the annual Community Service Project. Their goal was to transform the sandy, walled-in courtyard into an outdoor haven for young learners.

By the time volunteers finished, Phoenix Day’s new playground boasted bright, engaging equipment; grassy, green play areas; a sand pit in which to dig and build; a meandering tricycle path; a garden; a brightly painted infant courtyard; and plenty of new plants and trees.

“Valley Partnership helped us realize the dream of a quality outdoor environment,” says Phoenix Day Executive Director Karyn Parker, who is serving her second term overseeing the center. “We wanted an outdoor environment that was a learning environment as well, and now we have one.”

Valley Partnership, AZRE May/June 2011Phoenix Day was a good fit for Valley Partnership’s annual project, which draws volunteers and in-kind donations from the organization’s diverse partners throughout the commercial real estate industry.

“We try to find projects that are the right size for us,” says Ben Shunk, current chairman of the Community Project Committee and a senior project manager at Adolfson & Peterson Construction. “We want to make sure the project’s not too big for us to make an impact.”

The impact on Phoenix Day has been a powerful one, Parker says, and is both immediate and long-term.

The immediate impact of the Valley Partnership project includes:

  • Play equipment that now includes pieces especially designed for toddlers.
  • An infant area that is brightly painted and visually stimulating.
  • A long-dreamed-of tricycle path that allows children to traverse the grounds, all the while riding on different textured surfaces.
  • Synthetic grass with a resilient surface and cushioned padding.
  • A sandpit area with play backhoes.
  • New plants and trees, as well as a brand new sprinkler system.
  • Fresh paint on cement walls.

The long-term benefits are an environment that allows Phoenix Day instructors to teach outdoors, particularly in the garden, where children can learn about sustaining plant life. The center also plans to add features such as a rabbit hutch and a butterfly garden, complete with worms and caterpillars.

“This will allow for seasonal learning,” Parker says, adding that an “indoor-outdoor connection” is an important part of a child’s development.

Almost 80 percent of Phoenix Day’s children come from homes in which the average income is between $14,000 and $18,000 for a family of four, she says. Parents often don’t have the money or the means of transportation to take their children out and about in the community. Now, they have a great spot right in their own neighborhood.

The annual service project is an important component of Valley Partnership’s mission, which also includes networking, education and advocacy.

“Everyone feels great being a part of it,” says this year’s board chair Mindy Korth, anValley Partnership, AZRE May/June 2011 executive vice president at CB Richard Ellis. “At Valley Partnership, we believe even an organization should tithe back to the community.”

While the actual group project takes one day, Shunk says planning for the event starts months before. Committee members typically choose an organization and then spend months preparing, which culminates in a well-coordinated, well-timed workday.

For November’s workday, volunteers from Trudell Design Studios and Wildwood Design surveyed the property and prepared an overall plan.

Then, Valley Partnership volunteers prepared paperwork regulating state requirements for child-care facilities, created a needs list and distributed it to Valley Partnership members.

Partners then stepped up to prep the site, performing such tasks as removing old cement and grading. So on Nov. 8, Shunk says every volunteer knew what to do to finish the work.

Not only is it well coordinated; it’s a lot of fun.

“It’s a great group of people. Everyone is smiling and working hard,” he says. “Everyone checks their egos at the door and realizes what the end result is.”

AZRE Magazine May/June 2011

Valley Partnership, AZRE May/June 2011

Valley Partnership: Carlyn Oberholtzer

As zoning lawyer with Rose Law Group, Carolyn Oberholtzer meets regularly with municipal employees and elected officials, as well as real estate developers, landowners and clients. As a member of Valley Partnership for the past seven years, she says she believes the organization has benefited her career through its positive connection to different real estate professionals.

“(Valley Partnership) is meaningful not just because of who you associate with, but how you associate with them,” Oberholtzer says. “It really brings the parties of the industry together, who are often working opposite one another, toward a common goal.

“Through those relationships, you are able to accomplish things that really benefit the industry at large from an advocacy standpoint.”

Valley Partnership Friday Morning Breakfast’s

One of Oberholtzer’s favorite aspects of Valley Partnership is its monthly Friday Morning Breakfasts. The breakfast speakers cover specific topics as they pertain to the commercial real estate industry.

A recent Friday Morning Breakfast dealing with economic development in Arizona was especially memorable for Oberholtzer.

“That was a great one because it really helped to frame the issues for what will make our state successful from an economic development perspective,” says Oberholtzer, who is a member of Valley Partnership’s City/County Committee, and the State Legislation and Federal Affairs Committee. Last year she was a member of the Events Committee.

“Our organization is made up of people who develop,” she says. “It’s critical that we know what the market will need so that our developer clients can provide for that demand.”

Despite the recent economic upheaval, Oberholtzer has stayed positive about the future of the real estate industry.

“Where there’s a will, there’s a way,” she says, “and this industry has a lot of will.”


Valley Partnership Advocates and Allies, AZRE May/June 2011

Valley Partnership: Advocates And Allies

As Arizona emerges from a grueling global recession, business and civic leaders are focusing on creating jobs and jump-starting our economy. Valley Partnership, as the state’s only grass-roots organization devoted to promoting responsible development, is poised to play an important role in that process.

“Our goal is to help stimulate the local economy by our actions,” says this year’s board chair Mindy Korth, an executive vice president and capital markets broker at CB Richard Ellis.

With its extensive ties throughout the development community, as well as into municipal and state offices, Korth says Valley Partnership is in a unique position to help get the economy moving again.

To say the past two years have been challenging for the commercial real estate industry would be an understatement.

Speculative construction in the office, industrial and retail sectors just about ground to a halt, with most construction occurring on build-to-suit projects or others already in the pipeline.

And as the Valley begins to see an uptick in business activity and employment, it is more crucial than ever that the principles of responsible development and job creation come to the forefront — something Valley Partnership has been promoting for 24 years.

As in the past, the linchpin of Valley Partnership’s efforts will be its advocacy, Korth says. Historically, the organization has been remarkably successful in rallying its partners — either against measures that would impose onerous restrictions on development, or on behalf of measures that would promote good growth.

“That’s an ongoing effort,” says Richard Hubbard, president and CEO of Valley Partnership. “We’ve always advocated against over-burdensome regulations at the local and state level.”

This year, Hubbard says Valley Partnership also will emphasize partner-to-partner relationships, as well as those between private and public entities.

Standing Apart

Valley Partnership’s more than 500 partners include representatives from all tiers of commercial real estate — from developers to attorneys to general contractors and engineers. Two important characteristics set it apart from other organizations: its relationships with public sector and government representatives and its emphasis on local stakeholders advocating on behalf of local issues.

“We are specific to the Valley,” says Rick Hearn, director of leasing for Vestar, one of Valley Partnership’s original corporate partners. Hearn has served on the board of directors for six years, and in that time has witnessed the organization’s partners tackle thorny local issues.

“We advocate on behalf of this industry better than anyone else,” he says, adding, “Not one of the national organizations comes close to touching the value proposition of what we do. We work at so many levels and have so many relationships.”

Not only does Valley Partnership share information and expertise with municipal and state leaders, it also has ties to federal officials and even someone at Luke Air Force Base.

City, state and federal partners can dip into Valley Partnership’s brain trust and glean important information on many pressing issues, Korth says.

For example, a municipality that is re-examining its city plan can garner feedback from Valley Partnership. The organization’s task forces dig deeper into issues, then forwards recommendations to a committee before the organization arrives at a public stance.

Some of the measures its committees are examining include:

  • The Maricopa Association of Government’s efforts to design a dark-sky ordinance to reduce excessive light, while also addressing safety issues for tenants and customers.
  • Maricopa County drainage permits and other building permit issues.
  • Incorporating Green Building Codes within Valley cities’ building codes.
  • Proposed city general plans.

Valley Partnership Value Proposition

Another important initiative this year is to make partners more aware of the value that Valley Partnership adds to their efforts. Korth says the communications committee is working hard to articulate back to all partners on what is being accomplished.

“We need to let them know that there is no one else like us here and if we did go away there’d be a gaping hole,” she says.

While membership did drop some during the recession, it is starting to tick back up, Hubbard says. As it does, Valley Partnership also is setting goals for its other key functions: education, networking and public service.

Hubbard said the organization surveyed its members to see what issues they would like to see addressed at educational events and Friday breakfast meetings, a staple for many partners.

Respondents said they would like to hear from industry leaders in the community and those involved in important development issues.

Signs are evident, Hubbard says, that their message is resonating with people in the commercial real estate community. More than 50 people attended the first January meeting of the committee that oversees city and county issues, a big jump from the usual six to eight attendees.

Partners recognize that advocacy on behalf of responsible development reaps dividends for everyone. Korth says: “If you go alone, you may go faster, but if you go together, you go farther.”

AZRE Magazine May/June 2011

Mindy Korth, Valley Partnership - AZRE Magazine May/June 2011

Valley Partnership: Mindy Korth

Mindy Korth has served in a variety of capacities during her 26-year commercial real estate career and has been on the front lines of an up-and-down industry. Korth, an executive vice president at CB Richard Ellis and this year’s Valley Partnership chair, says the advocacy role Valley Partnership plays is crucial to its members in the current recession.

A graduate of Arizona State University with a bachelor’s degree in business administration, Korth is Valley Partnership’s first chair who is an active real estate broker as a capital markets sales professional for the past 14 years. She has been on the Valley Partnership board of directors since 2007, serving as vice chair in 2010. Korth serves on boards for several other organizations, including Social Venture Partners, Channel Eight/KAET Public Television and the Discovery Triangle Development Corporation. She is also a member of Soroptimists and Arizona Commercial Real Estate Women (AZCREW), where she is a past board member.

Q: What does it mean to be an advocate for the commercial real estate industry?

Valley Partnership works to stay in touch with its real estate industry partners’ needs and to understand how local, regional, state and federal policy will affect their ability to thrive in this metropolitan area. We support those public-sector initiatives that promote the health of our industry.

Q: How important is that advocacy during these tough economic times?

Advocacy is important in all economic times. Valley Partnership was established to pool the resources of many in the real estate industry, and to address and bring awareness to the myriad of real estate-related issues that impact our community.

Q: Valley Partnership’s 2011 goals?

The board has set goals that include partner retention, new partner recruitment, outstanding programs that inform and inspire our partners, fun events, community service and most importantly, working closely with our municipal partners to support their initiatives.

Q: How will you achieve these goals?

Our board has engaged in strategic planning sessions through which we created definitive action items and a scorecard to track our progress. Our board is comprised of very talented real estate professionals who have great vision on what is needed and how Valley Partnership can serve our community. Our City/County Committee has a goal to form task forces as needed and already has created three to address and provide input on proposed policy changes. Legislative proposals are reviewed by members of our State Legislative Committee, which then forms recommendations for further action.

Q: What are the biggest challenges in 2011?

There are many controversial issues being discussed within city, county, state and federal chambers. Our role is to be the steady sounding board, bridging and partnering to promote responsible growth. We have found ourselves often asking the question “Should we take a position?” If we say “Yes,” then we ask, “How can we do this in a balanced manner?”

Q: Any advice for partners?

Get involved. Attend our events. Have fun. Create relationships and promote business-to-business among your fellow partners. If you are not familiar with advocacy and want to learn, participate in one of our advocacy committees. You may not be adept the first year, might start feeling comfortable the second and by the third year you will be surprised at what you can do.

For more information about Mindy Korth and Valley Partnership, visit www.valleypartnership.org.

AZRE Magazine May/June 2011

Valley Partnership, AZRE Magazine May/June 2011

Valley Partnership: Ben Shunk, Adolfson & Peterson Construction

Ben Shunk, senior project manager for Adolfson & Peterson Construction, was first attracted to Valley Partnership when he learned about its Community Project Committee.

Six years later, he remains active in all aspects of the organization, and is finding career success in its networking opportunities.

“(Valley Partnership) has helped me in my career because it’s a local organization where people who are trying to make a difference in the commercial industry as a whole can meet,” Shunk says. “This includes architects, developers, contractors, engineers, subcontractors, city personnel, attorneys — basically everyone who touches the private and public real estate industry.”

Shunk hasn’t lost his passion for community service, though, and served as chairman of the Community Project Committee in 2010.

The project Shunk spearheaded was with Phoenix Day, one of three day care facilities in South Phoenix. The team spent the first Saturday in November renovating the facility’s courtyard playground.

Shunk says he believes that was his single best experience with Valley Partnership.

“Even though it was a tough year for the economy, we had a great group of committee members, and it turned out to be an amazing project even in the tough economy,” he says.

Shunk adds that he is proud to be a part of Valley Partnership because he believes the organization serves a vital purpose in real estate, calling it “the voice of industry professionals.”

“If there are issues that the industry is passionate about, (members) can have a voice and an impact,” he says. “If it wasn’t for an organization like Valley Partnership, I don’t think those opinions would be heard.”

Shunk says he has high hopes for the real estate industry after a difficult few years, adding that “2010 was a little rough for everyone. We’re seeing a lot of momentum for 2011.”

For more information about Ben Shunk and Adolfson & Peterson Construction, visit www.a-p.com.

AZRE Magazine May/June 2011

Todd Holzer, NAIOP-AZ - AZRE Magazine September/October 2010

NAIOP-AZ Chairman Todd Holzer Provides Leadership At Crucial Time

After more than a quarter century in commercial real estate, Todd Holzer, chairman of NAIOP-AZ, has been witness to many industry ups and downs.

Holzer began his career with Opus Southwest in Phoenix and San Diego. After 12 years at Opus, he moved on to DeRito Partners, where he spent eight years developing retail projects. Now in his sixth year at Ryan Companies US Inc., specializing in office and industrial projects and overall marketing for its Southwest regional operation, Holzer says market conditions in Arizona make for some intriguing times.

“Two things that I find interesting about our local market: First, the volatility of the Metro Phoenix market has to be among the greatest of all major U.S. markets,” Holzer says. “It seems that in my career, the overall market conditions for office and industrial have either been on fire or in the dumps. There are days I wish we were a little more steady, like some other Ryan offices in the Midwest. The feast-or-famine scenario we have can be an emotional and economic roller coaster for those in the business.

“Secondly, and again unfortunately, I always think about what could have been a very cool, relevant Downtown Phoenix. Despite some good vision out of the City of Phoenix political leaders, we are still a metro area that has grown outward with sprawl. I wonder if true urbanism can happen here. Most people live here to take advantage of activities that are suburban in nature: golf, hiking and other outdoor activities that don’t occur in a downtown setting.”

Holzer takes the reins at NAIOP-AZ during rocky economic times, but he says he is up to the challenge. When he started at Opus, he joined NAIOP-AZ mainly for networking purposes.

“When I moved into retail development, I spent more time and energy in other organizations such as ICSC, Valley Partnership and ULI,” he says. “But when I came to Ryan with an office and industrial focus, I decided that I needed to get back into NAIOP and take on a leadership role.”

Holzer has been on NAIOP’s local board of directors for five years and on the national board for three. After about two years on the local board, he was asked to take on the time and challenge of training for his eventual role as chairman.

“I have served under a few visionary and hard-working chairmen that have given me the experience to run the local chapter in what are very challenging times,” he says.

Holzer is not one to dwell on the negative. Instead, he says focus should be put on the quality of projects being built today, including NAIOP-member LEED certification initiatives.

“I take my hat off to some developers in our market that build with quality and with vision,” he says. “RED Development building CityScape and SunCor building Hayden Ferry are great projects that went to a level that most developers would not go.

“In my opinion, there has not been an increase in the quality of office projects over the last 15 to 20 years. The granite exterior projects built in the ’80s and early ’90s have stood the test of time. Most developers don’t build true quality because they are building to the level requested by the tenant and user market, and tenant and user groups have been fixed upon cost rather than quality and amenities.

“On the other hand, industrial projects have been built in the last cycle to a much higher standard of function than in the past.”

Among those higher standards is building to LEED specifications and the move toward more energy-efficient projects. Nationally, Holzer says, NAIOP has become fully engaged in LEED initiatives by having educational events tied around the green movement, with the major event being an annual conference dedicated to energy-efficient development. Phoenix hosted the conference a few years ago.

“Locally, we are giving awards to the best energy efficient new development each year at our Best of NAIOP event,” he says.

Examples of recent projects, Holzer cites, are Liberty Property Trust and its Scottsdale building for Vanguard; Lincoln Property Company and the Arizona Game and Fish Department building; Ryan’s 3900 E. Camelback building; and Hines’ office building at 24th Street and Camelback. There also are numerous local municipal and higher-education projects that have been built to LEED standards.

For those in the commercial real estate industry preparing for the future, Holzer offers this advice:

“At the present time, our industry is going through a monumental change,” he says.

“Speculative development will not re-appear for approximately five years in the Valley, so new development will be way down and that side of the business will not be hiring. People and companies will need to reinvent themselves. Take your strengths and use them in different ways within our industry.

“We are still the fifth-largest city in the country and our role as a major place of commerce in the Western U.S. will continue to grow.”

Holzer predicts 2011 will be a sequel of 2009 and 2010; users and tenants are price sensitive and looking for deals.

“We are in a period where land, rents and construction costs are on sale,” he says. “Those with a long-term approach and sufficient funding can solve real estate needs at very attractive costs.”

Some of the biggest challenges Holzer sees in 2011 are lack of capital and nominal job growth. The industrial sector needs capital to be available to companies for expansion and purchasing of inventories and equipment, he says, and the office sector is tied to job creation.

“Unless we can get local and national job creation to pick up dramatically, high-vacancy rates and shadow space inventory will continue with us,” Holzer explains. “The main challenge facing most sectors of commercial real estate is the national political scene and the decisions coming out of Washington, D.C. There is too much uncertainty currently for small business owners to make real estate decisions.”

For more information about NAIOP-AZ and Todd Holzer, visit naiop-az.org.

AZRE Magazine September/October 2010