Phoenix, AZ – Lee & Associates is pleased to announce the sale of 3065 South 43^rd Avenue in Phoenix, Arizona.  The industrial warehouse is a single story, 60,971-square-foot building on an 11 acre lot.  Home to US Pipe, a division of Forterra, the location is one of thirteen across the country and is one of two that contains a special furnace used in their process.  The property sold for $3,719,213 ($61.00 PSF) and was fully leased out.

Pete Batschelet, SIOR and Allen Lowe, SIOR, represented the buyer, 3065 43^rd Avenue LLC (Hanson Capital), as well as the seller, Lippert Components Inc.

Hanson Capital is an alternative lender specializing in collateral, hard-money transactions within the real estate market.  The company was started in 2008 by Chris Hanson in Phoenix, Arizona.  Since opening Hanson Capital is responsible for over $300M transactions and is quickly becoming the leader for alternative lending.

Established over 100 years ago, U.S. Pipe is the largest producer of ductile iron pipes, fittings and joint restraints used in drinking water and wastewater systems.  They have been in their Phoenix location for 10 years and will continue to stay under the new owner.  With the multitude of products offered, they continue to lead the industry through dependable and economical solutions.

PHOENIX, Ariz. – A record 24 protégés were honored as the Arizona Chapter of NAIOP’s Developing Leaders Young Professionals Group (YPG) mentorship program hosted graduation for the 2019-2020 class.

Mentors and protégés gathered November 4 at The Gladly for a socially-distanced reception, presentations and dinner. The 24 protégés, grouped into five teams, each pitched a development proposal to a potential equity partner.

As part of their equity partner’s review of the development proposals, judges were looking for the project that meets the highest and best use of the site as well as provides the most optimal economic returns (projected investment returns).

This year’s site was the NWC North 56th Street & West Galveston Street in Chandler. Teams had the option of developing the entire site or a portion of it. Team 3’s Eagle Landing concept took home top honors. Team members included Michael Roberts, JDM Partners; John Coughlin, Prologis; Diego Almaral, Strategic Office Partners; Alex Anstey, Willmeng Construction; and Drew Sampson, Avison Young. Cathy Thuringer of Trammell Crow Company was mentor of the winning team.

“The YPG teams this year were faced with the challenge of working on their projects primarily through Zoom calls, but each team rose to the occasion and delivered very thoughtful development ideas for the site,” said Thuringer. “I am always impressed with the level of creativity and enthusiasm the protégés bring to this program and am honored to have once again served as a mentor for this great program.”

Additional mentors for this year’s class were Phil Breidenbach, Colliers; John Orsak, Lincoln Property Company; and Jeff Foster, Prologis. Judges were Phil Haenel, Cushman & Wakefield; and Cullen Mahoney, Trammell Crow Company.

Program chairs were Mollie Zemer, Barclay Group; and Josh Tracy, Ryan Companies US.

“The YPG program gives Developing Leaders from all sides of the industry a unique opportunity to learn about how a development comes together while collaborating and networking with their peers,” Zemer said.

The rest of the protégés include:

• Team 1: Brice Pall, Enterprise Bank & Trust; Jim Bulsiewicz, Hines; Ashley Dykstra, Kinney Construction; Jackson Paquette, SRP; David Stull, CBRE, Inc.; and Jonathan Loe, Sherman & Howard.
• Team 2: Ryan Kates, Berger Holdings; Joey Hakola, RED Development; Ian Kennedy, The Remson Group; Stephanie Lanman, Leading Edge Real Estate; and Franklin Lee, Arizona State University.
• Team 4: Christopher Campbell, BNC National Bank; Ashley Nye, Trammell Crow Company; Taylor McDonald, Whiting-Turner; Aaron Fox, Cushman & Wakefield; and Austin Knebel, LevRose Commercial Real Estate.
• Team 5: John Schott, Everest Holdings; Adam Olson, CEVA Logistics; and Mike McWilliams Jr., Plaza Companies.

MARANA, ARIZONA — An affiliate of MC Companies (Ross McCallister, principal), Silverbell Gateway Apartments, purchased 14.4 acres at 7300 N Silverbell Road, in Marana for $2.55 million ($4.07 PSF) from Prestwick Properties of Tucson (Douglas Kennedy, manager).

The development team of MC Companies is excited about this new opportunity to build luxury apartments and grow their existing portfolio.  The town of Marana is fast growing, and this offering will add to the much-needed mix of luxury apartment homes for residents that rent by choice for the convenience and modern amenities that this demographic has come to expect.

This area has undergone much development in the past few years with new parks and connectivity to the Tortolita Mountain trail system.  The Town has also made significant investments in the functionality of the Ina commercial area. The Ina Road Beautification project makes this location even more appealing to residents in the area. The project includes new asphalt pavement, fresh landscaping in the right of way, new street lights, sidewalks, accessibility ramps and fiber optic cables.

MC Companies plans 300 luxury apartment homes with large floorplans at an average square footage of 1,070-square-feet and six unique floorplans.  Each home will be designed with upscale finishes and include hard surface flooring, granite counter tops and designer lighting packages.  The proposed amenities will be best in class for new apartments, similar in luxury as the Award winning The Place at Riverwalk Apartments at Craycroft and River in Tucson. After two years of great success and winning it was awarded the Best Community Design Award at the 2020 AMA Tribute Awards recently.

The Management team of MC Companies will professionally manage this newest community adding to their current portfolio of 6,000 apartment homes.

The transaction was Principal to Principal and construction is estimated to start in Jan with 19 months to first delivery.

To learn more, see RED Comp #8155.