Woman-owned firm will build Naval Strike Missile transport containers under a US Navy contract

TUCSON, Ariz. — Raytheon Company (NYSE: RTN) and Kentucky-based Phoenix Products, Inc. signed a U.S. Department of Defense Mentor-Protégé agreement to produce Naval Strike Missile, or NSM, transport containers under a $1.6 million U.S. Navy contract.

PPI is a woman-owned, small business that is in a Historically Underutilized Business Zone. Raytheon and Oakwood University in Huntsville, Alabama, will train and support PPI in technical, quality and management processes.

The mentor-protégé program provides large businesses with incentives to help smaller ones develop technical and operating capabilities to be more competitive with DoD programs. The three-year agreement with PPI marks progress in Raytheon’s domestic production of the missile designed by Norway’s defense leader Kongsberg.

“Raytheon is partnering with small and disadvantaged businesses to help them succeed and contribute to our industry,” said Kim Ernzen, Raytheon Air Warfare Systems vice president. “NSM production is bringing jobs and revenue to a growing network of U.S. suppliers, and it is all the more meaningful when the work makes a significant impact in a local community. It’s a win for everyone.”

PPI’s experience manufacturing similar containers makes it an ideal fit for Raytheon’s latest production needs.

“The program will enable PPI to take the next steps to be a fully capable aerospace container and ground support equipment manufacturer,” said Tom Wilson, PPI president. “It will help ensure we continue to employ highly capable people and train local residents with significant skill sets for now and in the future.”

Kentucky Congressman Hal Rogers, a senior member of the Defense Appropriations Subcommittee, said the agreement is beneficial for everyone involved.

“This partnership demonstrates the continued commitment of the defense industry to reach out to new and innovative suppliers in Kentucky to meet its requirements,” Rogers said. “I advocated on behalf of the mentor-protégé agreement with the Navy and look forward to the 5th Congressional District being a long-term partner on this advanced cruise missile program.”

Phoenix, Arizona —   Brian Gast has been promoted to Executive Vice President and Principal at Velocity Retail Group.  Brian started with Velocity Retail in 2014 and is in his 17th year in the retail commercial industry.  For 2018 he achieved the status of a million dollar producer for the second consecutive year.

“Brian continues to provide excellent service to his clients and is creative in finding solutions for their commercial real estate requirements,” said Dave Cheatham, President at Velocity Retail. “We are pleased that he has earned these promotions at our firm.  This business is about hard work and dedication to your clients and Brian excels in those areas 110%.”

During 2018 Brian finalized 62 transactions totaling over $70 million in value.  This is the highest level of performance for him during his career in commercial brokerage.

ORO VALLEY, Arizona – Loredo, Texas-based, Avery Commercial Small C, LLC an affiliate of Laredo Horizons Development Corp. (Brian Moreno, COO) purchased a 7,725-square-foot multi-tenant retail building at 9630 N. Oracle Road in Oro Valley for $2.4 million ($311 PSF).

The property is a newly constructed multi-tenant retail building in El Corredor Commercial Center. Growler USA – America’s Microbrew Pub and Oro Valley Posh Nail Spa were tenants in the building at time of sale and the buyer plans to occupy the remainder for a Clear Vision Express store.

The building is adjacent to a Kneader’s with additional retail, restaurants and office space planned.

The seller, Boulder Oro Valley, LLC (Ross Rulney and Malcolm Berman, managers) are developing the seven acre El Corredor mixed-use project located at the northwest corner of Oracle Road and Linda Vista in Oro Valley.

Debbie Heslop, CCIM, of Volk Company represented the seller and Rob Tomlinson of Cushman & Wakefield | Picor represented the buyer.

For more information, Heslop can be contacted at 520.326.3200 and Tomlinson should be reached at 520.748.7100.

To learn more, see RED Comp #6442.