TUCSON, Ariz.– Tech Parks Arizona is pleased to announce that Karla Morales has been appointed to the board of directors which oversees Tech Parks Arizona.  Karla Morales serves as the vice president for the Arizona Tech Council (ATC) of the Southern Arizona Regional Office. 

Morales leads and oversees all operations and facets of the ATC Southern Arizona Regional office working to recruit, retain and support tech business in the Southern Arizona region. The Arizona Technology Council is the premier trade association for science and technology companies connecting and empowering 750+ businesses across the state of Arizona.  

Morales was recently named one of the Most Influential Women in Arizona Business for 2022. She is community champion and currently serve as the Chairwoman for the Tucson Hispanic Chamber, the Executive Board for Earn to Learn, the Pima County Workforce Investment Board and is involved with Santa Cruz County, the Greater Nogales Port Authority and Women At The Top. 

“Tech Parks Arizona is vital to the continual growth of our region’s economic environment and our ability to expand our tech base. I’m honored by the opportunity to contribute to an already high performing board and organization!” expressed Karla Morales.  

The University of Arizona and Tech Parks Arizona are delighted to welcome Karla Morales to the board of directors. 

PHOTO: Karla Morales, vice president of the Southern Arizona Regional Office for Arizona Tech Council 

JLL Capital Markets completed the sale of Chandler Pavilions regional retail center in Chandler

PHOENIX, ARIZONA – JLL Capital Markets announced it closed the $28.975 million sale of Chandler Pavilions, a fully leased 163,286-square-foot, high-traffic regional retail center in the Phoenix-area community of Chandler, Arizona.

JLL marketed the property on behalf of the seller, Evergreen Devco, Inc., which acquired the center in 2020 in a JLL-brokered sale. Schnitzer Properties acquired the asset.

Chandler Pavilions is fully leased to a slate of investment-grade retailers, including Sportsman’s Warehouse, Golf Galaxy and Chipotle. One of the busiest retail centers in Arizona, the center is also home to Cost Plus World Market, REI, Mountain Mikes and Jimmy John’s.

Positioned on nearly 18 acres at 800-890 N. 54th St., the center’s highly visible location is adjacent to Interstate 10, which exposes the property to more than 156,600 vehicles per day, and just off Ray Road, which sees 42,200 vehicles per day. Additionally, Chandler Pavilion is in a dense, infill and affluent area with 161,654 residents earning an average annual household income of nearly $108,087 within a 10-minute drive.

The JLL Retail Capital Markets team representing the seller was led by Managing Directors Patrick Dempsey and Gleb Lvovich and Associate Patrick Anthon.

“Chandler Pavilions is an excellent example of a successful shopping center in an irreplaceable location,” Dempsey said. “REI, Sportsman’s Warehouse, Golf Galaxy and the quick serve restaurants define this Class A retail property. JLL is pleased to have facilitated this successful transaction for the buyer and seller.”

“The sale of Chandler Pavilions represents our team’s collaborative approach in sourcing unique capital for retail opportunities in the Western U.S.,” Lvovich added. “We are excited to help the buyer make their first retail acquisition in Arizona, complementing their growing flex industrial and development assets in the area.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Developer Plans Class A Townhome Community for Site

PHOENIX, ARIZONA – Porter Kyle, a Scottsdale residential lifestyle developer, has paid $2,034,000 for 6.23 acres of land at 1003 N. Sarival Ave. in Goodyear, AZ. The company plans to build a Class A townhome community on the site that is slated for completion in 2024.

“The dramatic influx of new residents to the West Valley, combined with the growing number of impressive employers in the area, made this site ideal for a quality home developer,” says Ramey Peru, senior vice president with Colliers in Arizona. “This was the ideal time for our seller to make the land available for development and monetize the asset.”

Kent Sheppard as representative for the Sheppard Family Trust sold the land to Porter Kyle. Peru and John Finnegan of Colliers in Arizona represented the seller in the transaction. Jake McClaughry with W-Retail represented Porter Kyle.

Porter Kyle plans to build a 100-unit, Class A townhome community on the site. The development will feature a mix of one, two and three bedroom units, each featuring two car direct access garages and private yards. The community will feature upscale amenties such as a clubhouse which overlooks the resort style pool, indoor / outdoor fitness and a resident lounge. Other amenities will include a dog park, children’s play area an integrated walking paths for residents. Each home will feature high-end finishes, including stainless steel appliances, full size side by side refrigerators, granite counter tops, subway tile backsplashes and private balconies.

Construction of the community will begin this year and is expected to be completed in early 2024.