Phoenix, Arizona — Accelerated Development Services is pleased to announce that Dave Lambert has been hired as the Vice President of Construction Management for the company.  A 25 year veteran in the construction arena, Dave’s experience includes commercial and multi-family experience for projects totaling over $205 MM.

“As our project base has grown, Dave will be critical to providing superior oversight to each of our projects starting prior to our site acquisition through the project close-out,” said Trey Eakin, Executive Vice President of Accelerated Development Services, a division of Velocity Retail Group.

Accelerated Development Services was created to provide its tenant clients with the ability to secure, develop, and construct properties in areas where finding quality locations can be challenging.   The company provides a development services solution for retailers looking to expand their brick and mortar storefronts.  The company primarily offers services that include but are not limited to, build-to-suit, construction management and fee development in partnership with a retailer.  Accelerated Development Services is an affiliate company of Velocity Retail Group.

Dave has a diverse background spanning over two decades in Arizona with commercial projects that encompass ground up as well as redevelopment projects.  He is well versed in all aspects of construction and construction management and will be able to bring this background to the table for each of the company’s projects.  This well-rounded skill set will ultimately provide more creative and affordable solutions for the retailers that Accelerated Development Services partners with during their expansions throughout the Western U.S.

Dave can be reached at:  602-682-8160, email:  [email protected].

Tucson, Arizona – Majestyk Tucson, LLC (Michael Bennian, manager) of Scottsdale purchased the property located at 2530-2532 S. Harrison Road and 9425 E. Golf Links Road, Tucson, Arizona for $375,000 ($117 PSF).  

The approximately 3,200-square-feet of retail space in Harrison Plaza was built in 1997 and is the end cap at the northwest corner of Harrison Road and Golf Links in the center anchored by Big Lots. Each of the stores at this center are individually owned.

The transaction was an investment sale that sold full leased to two tenants, Hair Spraz Salon is in 800-square-feet and Cozy Corner Diner in the remaining 2,400-square-feet. Both will continue to occupy the spaces.

Paul Ash Management handles the property management.

Frank Arrotta of Tucson Realty & Trust Co. represented the seller, Trinum Properties, LLC of Los Angeles, California (Shawn Rita Abrahams, manager).

For more information, Arrotta can be reached at 520.577.7000.

To learn more, see RED Comp #6885.

Phoenix, Ariz. – Lee & Associates announced that it has arranged a $30.8 million ($247 PSF) sale of the Chandler Heights Marketplace, a 124,822-square-foot grocery anchored neighborhood shopping center located in Chandler, Arizona.

The sale was a collaborative effort by two Lee and Associates offices, the Lee & Associates Idaho office located in Boise, Idaho and Lee & Associates Arizona. Shane Jimenez of Lee & Associates of Idaho, as well as Jan Fincham and Andrew Lundahl of Lee & Associates Arizona represented the seller, Boardman Enterprises, LLC. Nathan Cardon of Cardon Commercial represented the buyer, Sita Enterprises LLLP.

“The sale of the Chandler Heights Marketplace is an excellent example of the Lee Network opening opportunities for our clients across multiple markets,” said Shane Jimenez, Principal and CFO of the Boise, Idaho office.

With over 69% of the shopping center leased to national and regional tenants, Chandler Heights Marketplace is situated on over 18 acres at 4940 S. Gilbert in Chandler, Arizona, and consists of 124,822-square-feet of shops. The shopping center is home to tenants Bashas’, Ace Hardware, Leslie’s Pools, Starbucks, Orange Theory, Pizza Hut, H&R Block and Edward Jones.

“Chandler Heights Marketplace is attractive to investors because of its strategic location in an affluent area of fast-growing Chandler, Arizona,” said Fincham. “In addition, investors liked that the property consists of a mix of tenants that are internet resistant providing grocery, service, financial, retail, fitness and fast casual restaurant users.”

According to Fincham, within a one-mile radius of the shopping center, the average annual household income is over $157,000. The property also benefits from a strong daytime employment population with over 23,000 employees from Intel, Bank of America, Wells Fargo, Verizon Wireless and PayPal.

For more information contact Jan Fincham at 602-954-3754, Shane Jimenez at 208-343-2300 or Andrew Lundahl at 602-385-3799.