Phoenix, Ariz. —Arizona-based commercial real estate company, ViaWest Group, announces the opening of its Southern California office. The company owns and manages over 5MM square feet in Metropolitan Phoenix and has been named NAIOP Arizona Owner/Developer of the Year two of the last four years.

ViaWest Group hired Chris Cowan to oversee the Southern California region as Market Leader and Executive Vice President. Chris, a native of Los Angeles, has extensive experience in real estate investment; most recently, he held senior leadership roles with CIM Group and as a Development Director with Avalon Bay Communities both in the Los Angeles region. Earlier in his career, Chris worked with JP Morgan in Los Angeles and San Francisco and Houlihan Lokey in New York.

“In the global market we live in, sophisticated capital will always have a need for the value-add capabilities and experience ViaWest brings to the table,” says ViaWest Founding Partner, Gary Linhart. “We have already expanded into Nevada, Colorado, Texas and Washington and we see a lot of opportunity in the Los Angeles market to promote growth in the segments in which we specialize.”  Primary focus will be the acquisition and development of office and industrial properties with periodic opportunistic endeavors into other property types.

“We are excited to have Chris on the team,” says Steven Schwarz, ViaWest Founding Partner. “In some markets, like Nevada and Colorado, we have been able to make inroads from the Phoenix office; however, we believe in an ultracompetitive market like Los Angeles, that strong, local-market knowledge and relationships will be critical to replicating the success we have had here in Phoenix.”

The new hire, Chris Cowan, states, “There are compelling opportunities in Southern California, fueled by robust growth drivers. I am excited to be able to lead the efforts here and build on the excellent platform and culture within ViaWest.”

TUCSON, ARIZONA — Mister Car Wash purchased 1.49 aces of vacant land at Tucson Marketplace at the Bridges located at 2975 South Kino Pkwy in Tucson for $1.4 million ($21.57 PSF). Tucson-based Mister Car Wash continues to expand, now with 266 car washes it operates in 21 states. Prior to this year the company had grown through acquisitions and recently opened two new locations built and developed by and for Mister Car Wash in Iowa and Utah.

It is this new product being developed by Mister Car Wash at the Bridges on a pad to the north of Discount Tire.  Mister Car Wash will be located on the northern most pad with KFC and Dutch Bro’s (in escrow) to the south near Culver’s and Discount Tire, as shown on site plan below.

Tucson Marketplace at the Bridges is ±114 acres with ±1 million square feet of proposed shops, pads, entertainment and anchors available for Sale, Ground Lease or Built-To-Suite in the dense infill section of South Tucson

The Marketplace at the Bridges feature one (1) mile of frontage along Interstate 10, two (2) Interstate 10 interchanges at the east and west ends of the project. It is part of a master planned community with KB Homes and the University of Arizona Bioscience Research Park, within 2.5 miles from the University of Arizona and two (2) miles south of downtown Tucson and three (3) miles from the Tucson International Airport.

CWPS, the buying entity for Mister Car Wash, was represented by Aaron LaPrise, Retail Specialist with Cushman & Wakefield | Picor.

The seller, Fullerton Tucson Kino Parkway, LLC, of Toronto, Ontario, Canada, was represented by Chad Russell and Randy Titzck of Land Advisors Organization in Phoenix.

For more information, LaPrise can be reached at 520.546.2770 and Russell and Titzck can be contacted at 480.483.8100.

To learn more, see RED Comp #6652.

PHOENIX, Arizona – The capital markets team of Ryan Schubert and Michael Hackett of Cushman & Wakefield, successfully closed the sale of Madison Village Marketplace. Houston-based Weingarten Realty acquired the Safeway anchored shopping center from Phoenix-based Bayless Investment & Trading Company for $20.3 million ($225 PSF).

The 90,264-square-foot retail center, located at the northeast corner of 7th Street and Glendale Avenue in Phoenix, is anchored by a top-performing Safeway which occupies 49,364 sf of the leasable area. Developed in 1997, Madison Village Marketplace is currently 91.3 percent leased with major tenants including Orangetheory Fitness, Sauce Pizza and Wine, Pei Wei Asian Kitchen and Leslie’s Pool Supplies.

Schubert commented, “Madison Village Marketplace was an opportunity to purchase a generational Phoenix neighborhood center that few people thought would ever present itself. It fits perfectly into Weingarten’s local portfolio with a top tier Safeway grocery anchor, huge barriers to entry and immediate upside through lease up and upgrading of the shop tenancy.”