PHOENIX, AZ –  Lee & Associates Arizona is pleased to announce the addition of Matt Nebeker as its newest Principal specializing in East Valley office leasing. Matt has worked in commercial real estate in the Phoenix Valley for 14 years.

He began his commercial real estate career with Trammell Crow Company in 2005 when he joined their research team. Shortly thereafter, he moved to Trammell Crow’s Leasing Services Division as an Associate Broker with the Seeger, Peterson, Gustin Team. The team then moved to Cushman & Wakefield in January 2007, where Matt spent 12 years before joining Lee & Associates in March of this year.

Specializing in agency leasing, Matt continuously pursues new business through sales calls and meetings with prospective tenants. He has worked most of the Class A listings in the Southeast Valley and is very familiar with the tenant movements within the market.

Matt’s clients include Parkway Properties, Hannay Investment Properties, LBA Realty, Henry Schein Inc., Kyocera of America and Hubbard Engineering.

Matt graduated from Arizona State University with a Bachelor of Science Degree in Management. He serves as an active member of NAIOP Arizona and on the Executive Council Charities of Greater Phoenix.

ORO VALLEY, Arizona – Pulte Home Company purchased the Saguaros Viejos West subdivision in Oro Valley for $2.838 million ($64,500 per lot). The 44 lots were platted only for 12,000-square-foot lots in this new subdivision located northwest of Naranja and La Cholla Blvd. in Oro Valley.

Saguaros Viejos West is phase one and will be a gated community sitting on 56 acres.  The lots on phase one will have an average lot size of 30,000 square feet, much larger than phase two’s average lot size of 7,180 square feet.  Phase two(east), also gated, will sit on 85 acres, and when complete will feature 179 new homes.  Both portions of the development will have a maximum height allowance of 18 feet, or two stories.  The development will also include plenty of open space that will be complimented with bicycling/walking trails, ramadas, fitness stations, pet stations, benches and many other outdoor features.  A portion of land at the northwest corner of La Cholla and Naranja Drive will also be set aside for future commercial development.

Some conditions laid out by the Town Council for the development include preservation of 8 Saguaros that are 24 feet in height with two or more arms, which will not be moved and must be built around.  Any smaller saguaros on the property are likely to be transplanted, as well.  Improvements to Glover Road will also be made to account for the additional traffic the development will bring.  These improvements will include road widening, painted median, bike lanes and a shared use path on the south side of the road, extending all the way to La Cholla Blvd.

Greg Wexler with Wexler and Associates of Tucson handled the transaction for the sellers, Chia-Jung Chang and Yang-Wen Lin.

This is Pulte’s second acquisition in Oro Valley since the start of the year. Pulte Home Company is also platting an additional 45 acres in Oro Valley at Rancho Vistoso. The land drew a sale price of $4.9 million ($108,888 per acre).

For additional information, Wexler should be reached at 520.977.8500.

To learn more, see RED Comp #6597.

PHOENIX, Arizona – Cushman & Wakefield completed the sale of Popeye’s Louisiana Kitchen, the second largest quick serve restaurant chicken concept in the world, on behalf of Sacramento-based SIE, LLC and Ivan & M, LLC. Williams Real Estate Holdings, LLC of Bend, Oregon purchased the property for $1.4 million ($651 PSF).

Chris Hollenbeck of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

The 2,150-square-foot, single-tenant building is 100 percent leased to Popeye’s. Built in 2007, Popeye’s is located on an outer parcel of a retail center anchored by Food City and Family Dollar.

“Popeye’s has been a growing brand in Arizona and Z&H Foods, Inc. is an extremely strong franchise group.  We were pleased to help our client sell the property to a qualified buyer,” said Chris Hollenbeck.

Popeye’s, located at 6540 W. Thomas Road in Phoenix, is a Z&H Foods, Inc. franchise – currently the largest franchisee in the Popeye’s chain with over 270 locations across Texas, Arizona, Utah, Colorado, Illinois, Missouri and Ohio.