PHOENIX, ARIZONA – Encanto Village, a +/- 20,000 square foot shopping plaza sold to a local investor for $2,300,000. Built in 1951, Encanto Village sits on the hard corner of 15th Avenue and Thomas Road adjacent to the 222-acre Encanto Park in central Phoenix. The Seller, a private investor based in Phoenix, had owned the asset for over 20 years. “Encanto Village has been a staple in Encanto neighborhood since 1951 so it was important for the seller to pass it off to someone who would bring it back to its glory. The Original Hamburger Works has been an anchor to the property since 1967 but the rest of the center has struggled with some larger vacancies. The new buyers have vast experience in developing and redeveloping properties like this,” stated Andrew Harrison who represented the buyer along with Ari Spiro and Sean Stutzman, all of ORION Investment Real Estate.

Small shopping centers on hard corners in infill locations continue to garner strong demand from local and out-of-state buyers. “The buyer was attracted to the property due to its close proximity to the Historic neighborhoods of Encanto, Willo, and Encanto Park. Encanto Village has an attractive design you don’t typically see in modern day retail development. The new owners saw the dense demographics and strong daytime population as an additional driver. The Phoenix College Campus, Dignity Health St. Joseph’s Hospital, Park Central Mall, and Honor Health have made major impact on the trade area,” said Ari Spiro, ORION’s President.

The Buyer, Arizona Partners is an experienced, Scottsdale-based buyer. Spiro reported that the “Buyer performed quickly, closing the transaction in 14 days. Their plan is to extensively renovate the plaza and stabilize the rent roll.” Spiro went on to comment that, “We were grateful to the Seller’s agents, MPB Realty, for ensuring a smooth transaction.”

The Rio Nuevo Board approved the next steps in the much-anticipated Tucson Convention Center revitalization project, advancing more than $4 million in upgrades.

• $3.4 million in renovations to existing meeting rooms, including the creation of a “board room” that will be a high-tech meeting area
• $499,000 for the design of a 25,000-square-foot expansion that will add 18,000-square-feet of meeting rooms adjacent to the exhibition hall. Construction is scheduled to begin after the 2021 Gem and Mineral Show.
• $37,000 to retain an expert to evaluate the existing computer, communication and audio/visual systems and to recommend upgrades.
• A  $115,000 initial site development design package to evaluate the entire TCC grounds for code compliance and where necessary suggest upgrades to bring the grounds, including lighting, landscaping, walkways and accessibility features into code compliance.

Scottsdale, Ariz. – P.B. Bell, a leader in multifamily housing development and management, recently expanded its corporate team with a new hire and announced the promotion of five team members.

Bernie Pipan joins the P.B. Bell development team as the new project manager. In his new role, Pipan will work collaboratively on community projects with project consultants, architects and engineers, as well as city and community representatives. Pipan is also responsible for ensuring the success of various tasks, including budgeting, contract administration, as well as scheduling and coordination with operations. Pipan comes to P.B. Bell with a background in multifamily construction and development. He received his Bachelor of Science in Landscape Architecture from Ohio State University.

Matthew Heintz has been promoted to vice president of construction and is responsible for overseeing the construction of all multifamily and senior living development, from the notice to proceed all the way to the final certificate of occupancy. His role includes developing and managing construction schedules, budgets and contracts, as well as acting as the primary liaison between P.B. Bell, the general contractor(s) and consultants. Heintz joined P.B. Bell in 2005 as the maintenance director and has climbed the ladder through various roles. For more than 12 years, Heintz was responsible for managing, training and mentoring all P.B. Bell maintenance staff, overseeing capital improvements, assisting with due diligence and the construction of new developments.

Danial Harms has been promoted to senior portfolio director. Harms oversees a diverse portfolio of properties throughout Metro Phoenix. Her responsibilities include managing the operations, financials, marketing and staff at all of her communities and is the main point of contact for all property owners. Harms currently sits on the P.B. Bell Strategic Leadership Team and specializes in team motivation. In her new role, additional tasks include portfolio director mentorship, providing assistance with new business development and RFPs, greater involvement with new developments and their lease-up, and an overall stronger leadership role within the company. Harms joined P.B. Bell as portfolio director in 2013. Prior to P.B. Bell, Harms managed multifamily portfolios in Arizona, California and Florida.

Cary Cole has been promoted to senior portfolio director. Cole currently oversees a diverse portfolio of properties throughout Metro Phoenix. Her responsibilities include managing the operations, financials, marketing and staff at all of her communities and is the main point of contact for all property owners. Cole sits on the P.B. Bell Culture Club and is actively involved with the Arizona Multihousing Association. In her new role, additional tasks include portfolio director mentorship, providing assistance with new business development and RFPs, greater involvement with new developments and their lease-up, and an overall stronger leadership role within the company. Cole joined P.B. Bell as portfolio director in 2014. Prior to P.B. Bell, Cole was a regional manager with BH Management.

Monica Gatlin has been promoted to portfolio director, focusing on managing operations, financials, marketing and staff at all of her communities. Gatlin joined P.B. Bell in 2017 as a community manager and training mentor. She began her career in multifamily in 2002 with MEB Management Services. During her 15 year tenure with MEB, Gatlin’s positions included leasing specialist, portfolio director assistant, community manager and training mentor. Gatlin holds an Arizona real estate license.

Colby Weadock has been promoted to project manager and through his new role he helps lead the charge for P.B. Bell’s development portfolio. In his position, Weadock will work collaboratively on community projects with project consultants, architects and engineers, as well as city and community representatives to oversee and implement the design and development of new multifamily and senior living communities throughout the Phoenix metro area. In addition to working collaboratively with these teams, he manages budgeting, contract administration, scheduling and coordination with operations. With more than 10 years of experience in multifamily housing, Weadock joined the P.B. Bell family in 2014 as the leasing manager of Tuscany Palms. He transitioned from working onsite to joining the corporate team in 2019.