Assigned to direct and grow LPC’s 10 million s.f. portfolio within the Desert West region

PHOENIX, Arizona – Lincoln Property Company (LPC) has hired industry veteran Afton Trail as Director of Property Management for the Desert West region. In her new role, Trail directs LPC’s Desert West portfolio of almost 10 million square feet of landmark office, industrial and retail space. She is also charged with identifying and pursuing opportunities to grow the LPC property management brand in the Desert West region states of Arizona, Nevada, Utah and New Mexico.

“Our Desert West property management portfolio is very diverse. It requires someone with equally strong industry knowledge to support our tenants and customers with the high-quality solutions they expect from Lincoln,” said Lincoln Property Company Executive Vice President David Krumwiede. “Afton has stepped into this role very successfully. We welcome her to the team and look forward to all she will do to continue our mission of excellence and help grow our property management footprint in the Desert West markets.”

Trail’s career spans almost 40 years in commercial real estate, including past roles in property management, asset management, leasing, acquisitions, dispositions and talent management.

At LPC, she directs a team of more than 18 property management experts who provide service for a host of landmark projects. Among these are The Grand at Papago Park Center, 3131/3133 Camelback, Promenade Corporate Center, Luhrs City Center, Paradise Village Office Park and the ADOA and ADEQ buildings in downtown Phoenix, as well as 5 million square feet of industrial product.

This team is also part of the national LPC property management group, which at more than 403 million square feet represents one of the nation’s largest commercial real estate property management portfolios.

“I’m thrilled to join such a prestigious team and to represent such notable projects,” said Trail. “The fact that our portfolio is made up of not only Lincoln-owned assets but also a significant book of third-party management assignments gives us a lot of opportunity to solve complex business needs and drive new business as we continue to uphold Lincoln’s focus on quality and customer service.”

Prior to joining LPC Trail held executive leadership positions with CBRE and Cushman and Wakefield, where she provided oversight to property management teams across multiple markets and directed client care and development programs across all lines of business.

She earned a Bachelor’s degree in Political Science from Arizona State University and holds a CPM designation from the Institute of Real Estate Management (IREM). She is a current member and past board member of the Building Owners and Managers Association (BOMA) and a member of NAIOP, Arizona Commercial Real Estate Women (AZCREW) and the International Council of Shopping Centers (ICSC).

TUCSON, ARIZONA – The Silverbell Center at 8567 N Silverbell Road in Marana sold to a family trust for $3.45 million ($192 PSF). The 18,000-square-foot two story office / retail center is a multi-tenant property, built in 2007 on 1.5-acres.

The retail spaces are located on the ground floor and office spaces on the second floor. The building is 100% occupied. The tenant mix and the street presence of the building were described as excellent. The tenant mix includes Pima Pediatric Dentistry, Snap Fitness, and Guyton Chiropractic.

The building is specifically located in Marana’s largest master planned community Continental Ranch and is in close proximity to three elementary schools that serve the area and also the Del Web retirement community of Sunflower.

The same family trust also purchased a four-suite office condominium at 10132 N Oracle Road at the San Jose Plaza for $800,000 ($250 PSF).

Colliers International and Gary Heinfeld , CCIM, of Advisors in Real Estate, Inc. represented the seller, in both of these transactions and the buyer was self-represented.

In another unrelated transaction, Paul Baker, an American Family Insurance Agent, bought the 1,427-square-foot condominium the agency was occupying as a tenant for $285,400 ($200 PSF). Built in 2008, the multi-tenant condominium project is located at 8275 N Silverbell Road, Unit 109, in Marana.

Gary Heinfeld, CCIM, of Advisors in Real Estate represented the seller.

For more information, Heinfeld should be reached at 520.299.0700.

PHOENIX, AZ – Berkadia’s Hotels & Hospitality team completed the sale of three hotel properties in Arizona this past December totaling $80.1 million. Managing Director Kyle Stevenson and Senior Director Spencer Scott arranged the sale of the Element by Westin Sedona, the Element Chandler Fashion Center and the Arroyo Roble Hotel & Creekside Villas on behalf of Scottsdale-based Glacier House Hotels. The deals closed on December 10, 11 and 12, respectively.

“It has been a pleasure to work with Glacier House to help them execute a strategic divestment of a select portfolio of hotel properties,” said Stevenson. “We’ve worked closely with them to identify unique qualified buyers for different elements of their portfolio and we look forward to continuing our partnership.”

The latest sale represents the fifth transaction—and over $119 million in value—that Berkadia’s Hotels & Hospitality team has completed on behalf of Glacier House Hotels since the team was enlisted to market a 15-property portfolio in January 2019. The team is actively engaged in the sale of the remaining properties in the portfolio.

“The California dream is alive in Arizona as both tourism and business travel to the ‘Silicon Desert’ converge to sell out room nights,” said Scott. “Of top 25 U.S. hotel markets, Phoenix provides a uniquely sunny price point paired with regional lifestyle amenities further fueling the interest of industries and hotel investors away from coastal costs, especially at this point in the cycle.”

“Each of these hotels is in an enviable position, and particularly those located in Sedona with annual property specific Occupancy and ADRs trending over +80 percent and +$200 respectively,” continued Scott. “With the sale of these properties, Glacier House is able to reap value created with their strategic portfolio while offering precedent setting opportunities to new investors.”

The Element by Westin Sedona is a brand new 117-room hotel slated to open in January 2020. Located at 6601 State Route 179 in Sedona, the hotel is steps away from breathtaking Red Rock Mountains within the Village of Oak Creek and adjacent to Lisa Dahl restaurant concept, Butterfly Burger. It was sold at Certificate of Occupancy to a buyer based in Montana in a 1031 exchange.

The Element Chandler Fashion Center is located at 44 South Chandler Village Drive in Chandler, Arizona, adjacent to the Chandler Fashion Center, which is one of the largest malls in the Phoenix Metropolitan area. It features 107 guestrooms with fully equipped kitchens and offers free Wi-Fi, complimentary breakfast, a 24-hour fitness center and an outdoor pool.

The Arroyo Roble Hotel & Creekside Villas sold for $31.5 million to buyer Ensemble Real Estate Solutions and the second highest price per room for a hotel sold in Arizona in 2019.  It is located at 400 North State Route 89A and features 66 rooms with private guest balconies and has over 600 feet of frontage on Oak Creek. Amenities consist of complimentary breakfast and use of robust recreational facilities including indoor/outdoor pools, extensive exercise facility, indoor/outdoor whirlpools, steam, sauna, pool tables and tennis and indoor, air-conditioned racquetball courts.

Berkadia’s Hotels & Hospitality group combines best-in-industry innovation, knowledge and experience with the most comprehensive suite of products and services, backed by relentless customer service and support to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.