Phoenix, Arizona – CBRE announced the sale of Chandler Business Center, a 129,840 square-foot creative office, flex-tech and retail space, located in Chandler, Ariz. New York-based Fullerton Properties acquired the multi-tenant property from Los Angeles-based Montana Avenue Capital for $13.26 million.

CBRE’s Glenn Smigiel, Bob Young, Steve Brabant, Rick Abraham, Mark Krison and Jackie Orcutt represented the seller, Montana Avenue Capital, in the transaction.

“With Chandler Business Center, we were able to leverage the property’s long-term appeal and location in one of the highest-growth areas in metro Phoenix,” said CBRE’s Smigiel. “The property requires very little remedial work, allowing the buyer to immediately lease up the remaining space to a variety of tenants including flex office, creative office and retail users.”

Located at 6150 and 6170 W. Chandler Blvd., Chandler Business Center is a value-add, two building mixed-use complex that is currently 54 percent leased. Built in 2002, the property was designed by Butler Design Group in collaboration with Trammell Crow Company and Clarion Partners. Tenants include New Heights Church, Advance Auto Parts, Newark Corporation and Children’s Cancer Network.

The property is situated within one of Chandler’s five designated employment centers, giving users preferred access to additional land for future growth. The property also benefits from proximity to several retailers, restaurants and hotels as well as easy access to the I-10 and Loop 202 freeways.

Founded in 2010, Fullerton Properties is a private real estate firm with a focus on high value-add investment properties throughout the U.S. In addition to Chandler Business Center, the firm has ownership over several properties in Tucson, Ariz.

PHOENIX, ARIZONA  – Longtime ULI leader Heidi Kimball, Senior Vice President with Sunbelt Holdings, has been selected as the new Chair of the Urban Land Institute, Arizona District Council (ULI Arizona), serving on a voluntary basis for a two-year term that started on July 1.

Kimball, a full member of the Urban Land Institute, has been actively involved in ULI since 2007 and was previously Vice Chair with responsibility for Mission Advancement. Her extensive volunteerism at ULI locally includes District Council Treasurer, Trends Day Chair, and a Partnership Forum Mentor. At the ULI national level, she is Vice Chair of the Responsible Property Investment Product Council.

Kimball is highly engaged in real estate development endeavors through her professional work as well as her volunteer efforts with ULI and the Arizona State University’s Real Estate Advisory Board. Her charitable work includes positions within the Mesa Arts Center Foundation, East Valley Partnership, and serving as a Trustee of Valley Partnership’s Political Action Committee. She received a Bachelor of Arts degree in psychology from the University of Wyoming and earned a Master of Business Administration from Arizona State University.

Kimball succeeds Charley Freericks, Senior Vice President with Catellus Development Corporation, who will move into the Governance Chair role for ULI.

“Our district and national councils are the foundation for ULI’s collective impact,” said ULI Chief Executive Officer Ed Walter. “They make an incredible difference in the quality of our work and the fulfillment of our mission.”

Kimball is a recognized leader in real estate development, management and investment throughout the Southwest since 1979. Over the course of its 40-year history, Sunbelt has developed a strong presence in commercial development and asset management, as well as the developer of some of the Valley’s most beloved residential communities including McDowell Mountain Ranch in Scottsdale, Power Ranch in the East Valley, Vistancia in the Northwest Valley and Marina Heights in Tempe.

Recent acquisitions have provided unique opportunities in commercial development in urban centers, including the Brown and Brown Chevrolet dealership site in downtown Mesa and several mixed-use projects in Phoenix.

“I look forward to this opportunity to serve ULI Arizona, and advance ULI’s tradition of knowledge sharing and mentoring through the district council network,” Kimball said. “As a neutral convener, ULI creates forums for highly effective information exchange where members representing vastly different markets can share ideas and best practices. It is one of ULI’s great offerings.”

ULI Arizona also announced the following industry professionals will be rounding out the District Council leadership team: Mark Winkleman, a ULI full member and President of MGS Realty Partners, is the incoming Vice Chair. Heather Personne, a ULI full member and Managing Principal of Evolve Ventures, is the incoming Treasurer. Both have been extensively involved in ULI leadership positions locally and Personne is Vice Chair of the ULI National Placemaking Product Council

This week’s lease report highlights a 6,400 SF industrial lease to Dish Network Services handled by CBRE of Tucson.

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from July 8 thru 12, 2019.

INDUSTRIAL – 4261 S STATION MASTER DRIVE, TUCSON
Dish Network Services, LLC leased a 6,400-square-foot industrial space located at 4261 South Station Master Drive from Broadmont Investments, LLC. Tim Healy and Jesse Blum of CBRE’s Tucson office handled the transaction.

OFFICE – 899 N. WILMOT, TUCSON
Wilmot Family Dentistry, LLC, has leased 2,972-square-feet at 899 N. Wilmot Road, Suites A1 & A2, from Holland Arizona Investments, LLC. Lori Casey and Cameron Casey of Oxford Realty Advisors represented both the Tenant and the Landlord in the transaction.

OFFICE – 5717 E 5th ST., TUCSON
Bruce Suppes of CBRE’s Tucson office represented the tenant in the lease of a 1,172-square-foot office space located at 5717 East 5th

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