2019 was a year marked by strong growth in the commercial real estate market, and the brokerage firms in the Valley took full advantage. Here are Arizona’s top brokers and some of the biggest deals that made 2019 another banner year.
ABI Multifamily
1. (tie) John Kobierowski, senior managing partner
1. (tie) Alon Shnitzer, senior managing partner
1. (tie) Rue Bax, senior managing partner
1. (tie) Eddie Chang, partner
1. (tie) Doug Lazovick, partner
Notable deal: The ABI Multifamily team of partners: John, Alon, Rue, Eddie, and Doug completed the sale of Town Center Apartments for $33,500,000. ABI represented both buyer and seller in the transaction.
Avison Young
1. David Jarand, principal
2. James DeCremer, principal
3. Mark Seale, principal and director of brokerage services
4. Matt Milinovich, principal
5. Wally Hale, principal and director of tenant advisory services
Notable deal: Avison Young’s most notable deal of 2019 was the Tata Consulting Services five-year renewed lease totaling $2.2 million. The deal was as a result of principal, Wally Hale’s, continued relationship with TCS on a national basis. Located at 2550 W. Union Hills, Suite 300, in Phoenix, Arizona 85027, Union Hills Office Plaza is a three-story office building totaling approximately 143,715 RSF. The property is located at the intersection of Union Hills Drive and Interstate 17, in the Deer Valley submarket.
Catalyst Commercial Group
1. Mike Leonard
2. Chris Ray
3. Bryan Colombik
4. Daniel Sheldon
5. Priscilla Annoual
Notable deal: Mike Leonard of Catalyst CG represented the buyer, Barrio Culinary Concepts on the purchase of the former Rock Bottom Brewery building at 7640 W. Bell Rd in Glendale. A new Barrio Queen restaurant will open there this summer.
CBRE
1. Rocco Mandala
2. John Lenio
3. (tie) Tyler Anderson
3. (tie) Sean Cunningham
3. (tie) Asher Gunter
3. (tie) Matt Pesch
7. Bruce Francis
8. Brad Anderson
9. Barry Gabel
10. (tie) Bryan Taute
10. (tie) Kevin Calihan
Notable deal: CBRE represented State Farm in the 350,000 SF sublease to Carvana at Marina Heights.
Colliers International in Arizona
Todd Noel – Office Properties
Cindy Cooke – Multifamily Properties
Ryan Timpani – Office Properties
Payson MacWilliam – Industrial Properties
Don MacWilliam – Industrial Properties
Rob Martensen – Industrial Properties
Mindy Korth – Capital Markets
Brad Cooke – Multifamily Properties
Jim P. Keeley – Scottsdale Office – Office Properties
Phillip M. Breidenbach – Office Properties
Notable deal: Concorde Commerce Center I, 2222 W Dunlap Ave, Phoenix. Brokers Ryan Timpani and Todd Noel adamantly pursued the healthcare technology company to consider the building for their regional headquarters requirement and submitted an unsolicited proposal to pique interest. Efforts culminated in a complex transaction involving a 3-site consolidation with staged takedowns and staggered commencement dates. The successful lease fully stabilized the asset.
Commercial Properties Inc.
1. Leroy Breinholt
2. Tyson Breinholt
3. Matt Zaccardi
4. Jeff Hays & Tate Gunning
5. Jim Stockwell
6. Kimberly Rollins
7. Eric Jones
8. Craig Trbovich
9. Andy Jaffe & Rex Griswold
10. Toby Campbell
Notable Deal: Rome Towers is a 130,897 square foot, mixed-use development comprised of two signature Class A office towers, a retail shopping center and plaza, an elaborate open-air lobby and an integrated parking structure just one-mile from Mercy Gilbert Medical Center Hospital. Standing five-stories and approximately 85 feet tall, this Gilbert landmark is home to medical practices and other professional businesses. The Leroy Breinholt Sales & Leasing Team at Commercial Properties Incorporated represented the seller, Security Acceptance Services, LLC. Sales & Leasing Associate, David Bean worked with the buyer, Woodside Health represented by Crescendo Commercial Realty out of Ohio. The deal was for 121,632 square feet of the development and was for $26 million, or $213.76 per square foot. Bean commented, “The property offered Woodside Health a great location with access to multiple freeways, close proximity to the Mercy Gilbert Hospital and was a great medical and professional office investment. The CPI leasing team and I worked with ownership to build up to 73.8% occupancy prior to the sale.”
Cresa
1. Jason Shepard
2. Gary Gregg
3. Scott Maxwell
4. Ryan Orton
5. Brandon Clarke
6. Jason Wery
7. Ted Liles
8. Cory Shepard
9. Chris Walton
10. Rod Beach
Notable deal: Headquartered in New York City, Fox Corporation purchased a 114,000 square foot building in the ASU Research Park in Tempe to use as their global Central Broadcasting Facility. Committing to this major presence in Arizona came after a 2 year nation-wide search. Fox also purchased a land parcel in Gilbert for ancillary services connected with the facility. Fox Corporation was represented by Jason Shepard, Scott Maxwell and Jerry Porter of Cresa Los Angeles.
Cushman & Wakefield
1. Jerome Roberts
2. Eric Wichterman
3. (tie) Michael Hackett
3. (tie) Ryan Schubert
5. Christopher Hollenbeck
6. Thomas Jacobs
7. (tie) David Fogler
7. (tie) Steven Nicoluzakis
9. (tie) William Strong
9. (tie) Andy Markham
9. (tie) Mike Haenel
Notable Deal: DoorDash at The Grand II at Papago Park – The firm represented both sides of one of the largest office deals in Phoenix in 2019. One of the Phoenix firm’s tenant representation brokers represented DoorDash on a full building lease for 714,916 SF at 1127 W. Roosevelt Way in Tempe. Two of the firm’s agency leasing brokers represented the landlord, Lincoln Property Company.
Daum
1. Robert Lundstedt
2. Chris Rodgers
3. Trevor McKendry
Notable Deal: The most notable deal of 2019 was the sale of Desert Gateway, a 173,000 square-foot leased multi-tenant industrial project, located at 909 W. Pinnacle Peak Rd and 1000 W. Vista Bonita Drive, Phoenix, Arizona, in the Deer Valley industrial submarket. Seller was Duke/Griffin Pinnacle Peak, LLC, the buyer was Greenwood McKenzie. Purchase price was $24 million.
Insight Land & Investments
1. Tony Bagneschi
2. Ken Reycraft
3. (tie) Jeremy Lovejoy
3. (tie) Matt Rinzler
3. (tie) Brian Stillman
6. Mike Ratliff
7. Tracy Glass
8. Sharon Contorno
9. David Mount
10. Joe Werner
Notable deal: As far as the most notable deal of 2019, Tracy Glass and Mike Ratliff sold a piece near Old Town Scottsdale. Attached is the BREW article that you can pull info from.
JLL
Ryan Bartos
Pat Williams
Mark Bauer
Andrew Medley
Pat Harlan
Steve Larsen
Anthony Lydon
Marc Hertzberg
Steve Sayre
John Bonnell
Notable deal: Opendoor lease at Watermark. In October 2019, JLL Managing Director Ryan Bartos and Senior Vice President Kyle Westfall completed a 100,807-square-foot lease that will relocate the local office of San Francisco-based Opendoor from The Quad in Scottsdale to the new Watermark development. Watermark is located at 401 N. Scottsdale Road – on the north side of Tempe Town Lake, adjacent to downtown Tempe. The move represents an expansion of approximately four times the company’s existing local footprint and includes plans to grow Opendoor from 250 to approximately 1,000 Arizona employees.
Kidder Mathews
1. Karl Abert
2. Mike Ciosek
2. Eric Bell
4. Michael Dupuy
4. Fletcher Perry
6. Darren Tappen
7. Brian Rosella
8. Rachael Thompson
9. Dylan Scott
10. Erik Marsh
Notable deal: The Standard on 29th is a 357-unit apartment complex located at 2912 E. Indian School Road in Phoenix, Arizona. It was purchased by Urban Communities, a real estate development and redevelopment company that focuses on the creation and renovation of urban infill sustainable communities, for $30,050,000. The seller was SPL Companies, a real estate investment partnership. Kidder Mathews’ multifamily investment broker, Karl Abert, represented Urban Communities in the transaction.
Marcus & Millichap
1. (tie) Cliff David – IPA Senior Managing Director
1. (tie) Steve Gebing – IPA Senior Managing Director
3. (tie) Jamie Medress – Executive Managing Director
3. (tie) Mark Ruble – Senior Managing Director
5. Peter Katz – IPA Executive Managing Director
6. Paul Bay – Senior Associate
7. Rich Butler – Senior Vice President
8. Chris Lind – First Vice President
9. Josh Tammen – Senior Associate
10. Hamid Panahi – First Vice President
Notable deal: Western Wealth Capital 12 – $211,000,000 – 12-Property Multi-Housing Portfolio “Our facilitation of the Western Wealth Capital 12 recapitalization was historic in the context of Greater Phoenix multifamily. No transaction of this magnitude within the workforce housing space had ever been previously executed. The offering generated significant interest because of its scale and strong underlying market fundamentals, coupled with robust asset-level operating performance at each of the properties.”
Menlo Group
1. Rich Andrus – Dental/Medical
2. Tanner Milne – Medical/Office/Investment
3. Grafton Milne – Office/Child Care
4. Mark Haslip – Dental
5. Steve Berghoff – Medical/Office
6. Stuart Milne – Medical/Office
7. Geoffrey Waldrom – Office
8. Jason Triano – Medical/Office
9. Tom Ellixson – Industrial
Notable deal: Menlo Group advisors Grafton Milne and Tanner Milne facilitated the sale of 20,400 sq. ft. office space located at 1955 S. Val Vista Dr., Mesa. The property was one of the company’s first listings, and Menlo Group found multiple tenants for the building before negotiating the sale.
NAI Horizon
1. Laurel Lewis, Office
2. Lane Neville, Investment Sales (office and retail)
3. Shelby Tworek, Retail
4. Chris Gerow, Retail
5. Isy Sonabend, Industrial
6. Matt Harper, CCIM, Retail
7. Denise Nunez, Investment Sales (self-storage)
8. Troy Giammarco, Office
9. Gabe Ortega, Retail
10. Mike Gaida, Business/Industrial/Retail
Notable deal: Russ Warner, Andrew Warner and Victoria Filice brokered the largest sale, $16.4 million for a mobile home park in California.
Newmark Knight Frank
Tom Adelson
CJ Osbrink
Mike Garlick, Chris Krewson, Mike McQuaid
Tim Westfall
Brad Goff, Brett Polachek
Chris Canter
Ryan Ash
Joe Doucett
Kathleen Morgan
Trisha Talbot
Notable deal: NKF’s Capital Markets group represented the sellers, Lincoln Property Company and Goldman Sachs & Company LLC, in the sale of The Grand at Papago Park Center Phase I. The Class A+ office building located at 1101 West Washington Street in Tempe was sold for $90 million or approximately $422.48 per square foot, to Susquehanna Holdings, Ltd.
SRS
1. Ed Beeh
2. Alan Houston
3. Robbie Petty
4. Chuck Gibson
5. Sean Lieb
6. Scott Ellsworth
7. Brian Polachek
8. Mike Polachek
9. Greg Valladao
10. Brad Balbo
Notable deal: SRS represented the buyer and seller in the sale of El Super Center at Camelback Road and 23rd Avenue. Ed Beeh and Robbie Petty also represented the tenant, El Super in the lease transaction.
SVN | Desert Commercial Advisors
1. (tie) Justin Horwitz
1. (tie) Paul Borgesen III
2. Rommie Mojahed
3. Beau Flahart
4. Mary Nollenberger
5. Carrick Sears
6. Jonathan Levy
7. Nicole Ridberg
8. Eddie Gonzalez
9. Danny Lee
10. Kevin Weller
Notable deal: Justin Horwitz and Paul Borgesen III have facilitated another transaction representing Fore Properties in the acquisition of the former O’Neil Printing building for $9,325,000. The sale will bring some extraordinary real estate development for the 2nd Ave. & Filmore St. area over the next year. The development plans for a high-end mixed-use development.
Transwestern
1. Jim Fijan
2. Mark Stratz
3. Scott Baumgarten
4. Bill Zurek
5. Jim Achen
6. Justin Himelstein
7. Brian Zurek
8. Jack Fijan
9. Travis Dana
10. Kate Morris
Notable deal: Jim Fijan of Transwestern, along with Alex Hayden of CBRE, negotiated the $65 million sale of the former Henkel Corporate Center. An iconic, 367,000-square-foot office building at 7201 E. Henkel Way in Scottsdale, Arizona. The building was renamed to Ilume after the deal took place in December 2019. Mark Stratz, Vince Femiano and Scott Baumgarten of Transwestern will be providing leasing services for the property.
Velocity Retail Group
1. (tie) Dave Cheatham
1. (tie) Darren Pitts
3. Brian Gast
Notable deal: Darren Pitts represented EBCO, Inc. the owner of four separate La-Z-Boy showrooms in Chandler, Goodyear, Tucson and Prescott Valley in the portfolio investment sale to VEREIT Acquisitions, LLC. Each building was backed by new leases with La-Z-Boy corporate, one of the strongest brand names in the furniture industry.
West USA Realty Inc.
1. James Hill
2. Paul Blum & Rebecca Roberts
3. Howard Rudin
4. Tarja Panfil & Johnnie Panfil
5. Tony Micich
6. Michael Wood
7. Scott Burley
8. Tom Wolf
9. Rob Ryan
Notable deal: James Hill represented the buyer, Sun Properties, and the seller, Brad Dressler on a 420 space family mobile home park in Buckeye. The deal for the park, which was built in 1999, was worth $22,250,000.
