Tag Archives: Vintage Partners

Courtesy of MMPR Marketing

Vintage Partners to redevelop ’50s era shopping center

Vintage Partners, the Arizona-based commercial real estate development and investment company, announced its selection by Uptown Plaza Associates, LLC to lead the redevelopment of Uptown Plaza, the landmark 1950s era shopping center in central Phoenix on the NE corner of Central Avenue and Camelback Road.  Kicking off with a groundbreaking in September 2014 (exactly 59 years after Uptown Plaza’s original grand opening), this mindful renovation will restore the stylish, brick-lined Mid-Century Modern look to this iconic shopping center constructed in 1955 by the Del Webb Co. as the Valley’s first retail center located outside of downtown Phoenix. Most important, Vintage Partners is committed to recreating Uptown Plaza’s historic mix of inspired local restaurants and boutiques, thoughtfully paired with national brands, that together serve the needs of the neighborhood and make this shopping center a destination for Central Phoenix residents.

“Uptown Plaza Opens Wonderful New World Of Shopping Pleasure In Arizona’s Capital City” trumpeted the headlines back in 1955, noting the “record-breaking flow of cars and customers” drawn to this “modern brick, masonry and steel construction” with innovative features such as “the opportunity to park the family car free of care or cost … and walk a galaxy of new and shining stores,” while savoring the “attractive display windows brightly lighted for the evening window shopper until 11 o’clock each night.” And while this suburban shopping mall might have been a revolutionary experience at the time, it was the vibrant, wholly unique tenant mix that truly made Uptown Plaza a must visit.  Including the swanky Navarre’s restaurant (currently Sweet Tomato’s) and the super-sleek Helsing’s Coffee Shop (demolished), Uptown was home to everything from Jerand’s of Arizona fine fashions and Bostrom’s department store, to the national grocery chain, Piggly Wiggly (currently AJ’s Fine Foods).
Today, however, Uptown Plaza is literally a shell of it’s old self, buried under decades of stucco and other outdated ‘improvements,’ and suffering from chronic vacancy due to its economic and physical obsolescence, says Vintage Partners Principal, David Scholl. “As longtime Phoenix residents and specialist in retail development, we felt this landmark property needed an infusion of capital and a carefully thought out renovation and re-merchandizing to restore Uptown Plaza as one of the Valley’s most desirable retail destinations.”

Designed by Nelsen Partners (Kierland Commons, Scottsdale Quarter), the renovation plans are still being finalized as Vintage Partners and builder Kitchell Contractors determine how much of the original red brick façade (including many interior walls) can be preserved. However, the end results will combine a restoration of the classic lines and low-slung shapes with verdant new landscaping and modern amenities, including rebuilding the original 15-foot shade overhangs with cantilevers to achieve a sleeker, less cluttered look. In the near future, Vintage Partners will also be announcing plans for new tenants, including restaurant concepts from top local restaurateurs.

“We’re working with existing tenants, as well as securing the best mix of new local and national tenants to ensure that Uptown Plaza once again will thrive for generations to come,” Scholl says.

Marina Heights is a development partnership between Ryan Companies and Sunbelt Holdings. Fellow Valley Partnership member Cushman & Wakefield was awarded the leasing assignment.

A valley of partners

Partner-to-partner transactions building up the valley
one project at a time

When Valley Partnership was founded 27 years ago, it was on the principles of responsible development. It has since grown to thousands of members throughout the commercial real estate community — from subcontractors to some of the largest developers in Arizona.

Eastmark includes a partnership between DMB Associates and Marham COntracting Co.

Eastmark includes a partnership between DMB Associates and Markham Contracting Co.

“In 2014 and beyond, Valley Partnership developer companies are the leaders of almost every major commercial real estate project announced, including Marina Heights, the numerous announcements of deals at Eastmark, and Liberty Center at Rio Salado,” says Valley Partnership President and CEO Richard Hubbard.

The members have rallied behind the idea of partnership, Hubbard says.

“These developers use Valley Partnership partners for all construction disciplines related to the project including planning, design, architecture, general contracting, engineering and even law and accounting,” Hubbard says. “Many of those ‘partner-to-partner’ transactions have come from long-standing relationships created through Valley Partnership. I would say that every level of partner in Valley Partnership, from board member to sole proprietor, is participating in the current commercial real estate building activity in the Valley.”

Some companies, such as Evergreen Devco, take the partner-to-partner very seriously.

Valley Partnership Chair of the Board Doug Leventhal is the principal and COO of Evergreen Devco. Though Evergreen has focused much of its recent work in Denver, the company finds exclusive value in partnership with fellow VP members for Arizona projects.

“I can say that for all our Arizona work, we tend to work exclusively with the companies that see the value in Valley Partnership and either are active members or active sponsors,” Leventhal says. “Our general contractors, for example, need to be members or sponsors almost as a prerequisite to getting our business. Our architects, engineers, attorneys and title companies need to be members of Valley Partnership — or have a good reason why they are not! It’s important to Evergreen that we collectively support Valley Partnership since we all benefit from its mission to promote responsible development in the Valley. We are all connected in this unique way.”

Liberty Center at Rio Salado is a partnership between Liberty Property Trust and Markham Contracting Co.

Liberty Center at Rio Salado is a partnership between Liberty Property Trust and Markham Contracting Co.

That unique connection, as DMB Associates President Charley Freericks sees it involves Valley Partnership’s advocacy role for developers as well as a genuine passion for making Arizona a great place to live.

“Valley Partnership understands that real estate isn’t the only driver of the economy,” says Freericks. “We are the beneficiaries of a strong and growing economy and it’s in our interest to make this a great place to live.”

Freericks, who has been a member for 10 years, served on the board of directors, was chairman in 2009, and has sat on multiple committees.

Most of DMB Associates’ partners at the developers’ 6,000-acre masterplanned community of Eastmark – and around the Valley – are Valley Partnership members, Freericks says.

“Over the years, we have worked with so many contractors, consultants and service providers who are members it would be hard to name them all,” he says. “In fact it might be difficult to find any that aren’t members.”

Valley Partnership has multiple avenues for paving those partnerships. There are 10 committees, including one for an annual golf tournament and a community building project. One of the most popular and frequent member events, is the Friday Morning Breakfasts — a monthly morning panel discussion about an industry trend featuring local experts.

Freericks reflected on a breakfast about the impact and trade partnership Arizona has with Canada as a particularly helpful one for his masterplanned communities of Eastmark and Victory at Verrado, which target Canadian homebuyers.

“Valley Partnership attracts important speakers and hosts debates of candidates for state and local offices which helps me make better informed decisions,” he says. “The Valley Partnership advocacy team was a huge help to the Fighter Country Partnership efforts to bring the F-35 mission to Luke. This will impact our economy for generations to come. Valley Partnership’s role as the champion for moderate regulation has impacted all of our properties over the years and will continue to do so.”

Heather Markham, vice president of Markham Contracting Co., says her company has been a member of Valley Partnership since 1992 and is also a Stewardship Sponsor. Markham has attended breakfasts for the last five years and is one of the students in Valley Partnership’s inaugural Young Advocates Program. As a co-chair of the Community Project Committee, Markham says she also appreciate’s Valley Partnership’s commitment to networking and giving back to the community.

“I believe this involvement in the community is critical personally as well as professionally for everyone,” she says.

Markham has been self performing grading, paving and wet utilities civil infrastructure in the Southwest since 1977. Though Valley Partnership has only been around since 1987, Markham says the company has worked with many current Valley Partnership companies for nearly four decades. Partners include DMB Associates (Verrado and Eastmark), Macerich (Sonoran Crossing), Sunbelt Holdings (Vistancia), APS, Grayhawk Development, Lennar, Vintage Partners, MT Builders, HilgartWilson, Pulte, Atwell, Dibble Engineering, Wood Patel & Associates, Hoskin & Ryan, Siteworks, Speedie & Associates, Trench Shore Rentals, Alliance Bank of Arizona and Cemex.

“Valley Partnership plays a very strong role in responsible development of the commercial real estate community and provides an excellent venue for all the stakeholders in the process to come together and discuss issues and concerns as well as success stories,” she says. “This promotes strong partnerships between cities, counties, towns, state, land owners, developers, contractors, architects, engineers and every trade partner involved in making Arizona a great place to live and work.”