Annual REIAC/Rockefeller Group Challenge lets teams compete for bragging rights

PHOENIX, ARIZ. – Last year’s REIAC/Rockefeller Group Challenge was one of the closest finishes in the 5-year history of the event. What will this year’s teams bring to the table?

Find out May 2 at Arizona Country Club, 5668 E. Orange Blossom Lane in Phoenix, when teams consisting of graduating students from Arizona State University’s W. P. Carey School of Business, Masters of Real Estate Development (MRED) program compete for cash prizes of $1,000 per team member.

This year’s 3^rd Synthesis is the ASU Novus Innovation District.

Last year, Copperstate Development captured the top honor among three teams, garnering $1,000 each for Robby Leonard, Cody Wolfe, Josh Rodriguez, and Mohammed Almehaidib. Last year’s project was the 148-acre Arizona State University Thunderbird School of Global Management campus in Glendale that is moving to downtown Phoenix.

The event is open to the public. Cost is $35 for non-REIAC members and $25 for students. Registration and networking begin at 4:30 p.m., followed by the program at 5 p.m. A networking mixer begins at 6 p.m. It includes hosted beverages and appetizers.

Each team is allotted 10 minutes to present a development solution for a storied piece of Arizona commercial real estate, followed by questions from the audience. Audience members will vote to choose the winning team after the presentations, awarding each winning team member a $1,000 check at the Challenge, up to $6,000.

“If last year’s event is any indication, this year should be just as exciting,” said Mark Singerman, President of the REIAC Southwest Chapter and Vice President/Regional Director-Arizona for The Rockefeller Group, the event’s title sponsor. “I think that the cash prize is welcomed, but it’s the bragging rights from winning this competition that has changed the dynamics for the entire MRED class.”

From the start of the academic year to their final synthesis project, one of the goals for each team is to be in the top three chosen to present to the REIAC Southwest membership and the public. Participating teams field questions and comments from experienced developers and investors.

Registration for the REIAC/Rockefeller Group Challenge is required. Register at  reiacsouthwest.org/event-3244067.

PIMA COUNTY — The 21st Annual Southern Arizona Procurement Fair will be held at the Kino Sports Complex Pavilion located directly between the North Soccer Stadium and the North Clubhouse, 3600 S. Country Club Rd. on Friday, April 26 from 9 a.m. to 2 p.m. The event is sponsored by Davis-Monthan Air Force Base, the City of Tucson Housing and Community Development and Pima County Procurement Department.

Event staff placed in the parking areas will help direct traffic to the location and help fair participants with loading and unloading and booth set up.

Procurement Fair organizers said in a written statement. “Our government partners and participating agencies are the reason why the Procurement Fair has been a success for more than two decades. We look forward to seeing everyone this Friday.”

Every year the procurement fair provides businesses an opportunity to showcase themselves to government procurement staff who make purchasing decisions, as well as to find local suppliers, and build connections by talking to purchasing agents and representatives from federal, state and local procurement agencies.

The goal of the event is to help companies:

• Increase business networking
• Bridge partnerships with state business leaders
• Gain insight into the government contracting process
• Expand business customer base

For more information, contact the Pima County Procurement Department by phone, 520-724-8161 or email.

Phoenix, Arizona – CBRE negotiated the sale of a multi-tenant retail center located at Bell Road and 43^rd Avenue in northwest Phoenix. Estrella Properties, LP, based in Scottsdale, Ariz., acquired the property for $4.45 million.

CBRE’s Jesse Goldsmith, Steve Julius, and Chase Dorsett represented the seller, Bell Properties, LP.

“Orsett was a pleasure to represent. They meticulously maintained this retail asset since purchasing it in 1989 when they first made a presence in Phoenix. The buyer is acquiring a center with impeccable traffic counts and a hard corner pad that is hard to replicate,” said Goldsmith.

Located at 4251 and 4255 W. Bell Rd., Bell Plaza is 88 percent occupied and features a mix of local and national tenants including Circle K, Title Max, Watermill Express and MetroPCS.

The property is situated in a dense residential neighborhood with more than 56,000 household units in a three-mile radius. It also benefits from strong visibility along Bell Road with more than 58,000 daily vehicles.