PHOENIX, Arizona – CBRE announced that Michael Strittmatter has been promoted to Senior Vice President with CBRE Advisory & Transaction Services in Phoenix.

Mr. Strittmatter joined CBRE in 2011. He specializes in landlord leasing throughout Metro Phoenix with a focus on representing Class A building owners and developers. He and his team have been involved in numerous high-profile build-to-suit transactions and the leasing of large, ground-up business parks. Recent projects include The Watermark Tempe, The Esplanade, Allred Park Place and Scottsdale Quarter.

“We are proud of Michael’s success and well-deserved promotion,” said Paul Komadina, Senior Managing Director and Arizona Market Leader. “This achievement speaks to his unwavering determination and dedication to delivering exceptional client outcomes.”

Earlier this year, Mr. Strittmatter was named 2020 Chairman for the Arizona Chapter of NAIOP’s Developing Leaders (DL) program, which serves commercial real estate professionals age 35 and under. He has also held other key leadership positions within the organization, including Vice Chairman and Treasurer. Mr. Strittmatter has received several notable industry awards, including Connect Media’s 2020 Next-Gen Award, NAIOP Arizona’s Emerging Broker of the Year in 2016 and Rookie of the Year in 2015.

Outside of the industry, Michael has been on the Brophy College Preparatory Alumni Board since 2011 and is also a recent graduate of Valley Partnership’s ADVOCATES program.

TUCSON, ARIZONA — RJC 7265 Ventures, LLC (Robert Chorost, manager) purchased the medical / office building located at 7265 E. Tanque Verde Road, Tucson, Arizona in Colonia Verde Plaza II for $530,000 ($88 PSF).  Located east of the Tanque Verde/Sabino Canyon intersection in Northeast Tucson,​ across from Udall Regional Park and just east of the new Sabino Canyon Rd Bypass, the two-tenant property consists of an approximately 6,056-square-foot building on 30,046-square-feet of land, build in 1991.

The approximately 1,740-square-foot dentist office has 3 exam rooms, 2 restrooms and 2 labs.​ The dentist recently exercised his 6 year option which will expire on April 30, 2025.​

The approximately 4,316-square-foot medical office, which was available at time of sale, sold with 10 exam rooms, 3 doctor offices, a business office, a break rooms and 3 restrooms.​

The seller, RWDW, LLC (Dr. Rickey Williams, member) occupied the property for a pediatrics practice prior to sale. Pat Darcy of Tucson Realty & Trust Company represented the seller.  Kevin Volk of Volk Commercial represented the buyer in the transaction.

For more information, Darcy can be reached at 520.577.7000 and Volk should be reached at 520.326.3200.

To learn more, see RED Comp #7991.

Multi-phase project in the Southeast Valley continues with seven new buildings

SCOTTSDALE, ARIZ. – Marwest Enterprises, LLC (Marwest) is pleased to announce the ground-breaking of its new 525,000 SF, Class A industrial development, Landing 3, part of a multi-phase, master-planned industrial project at Phoenix-Mesa Gateway Airport in Mesa.

Landing 3, 7827 E. Ray Road, is expected to serve tenants from 5,000- to 250,000-square-feet in the Southeast Valley.

“Congratulations to Marwest Enterprises on the groundbreaking of Landing 3. This brand-new project will join Landing at PMG and Landing 202, in the heart of the Gateway area and close to multiple freeways. An awesome location for a wide range of businesses,” Mesa Mayor John Giles said. “It’s exciting to watch southeast Mesa maintain its momentum as a thriving economic engine for the entire city.”

Landing Phase III is within an opportunity zone, one of Phoenix’s nearly 90 designated land areas that encourage long-term investments in low-income urban and rural communities with tax incentives for investors.

“The continued success of the Landing is not only an indication of the demand in the market place for Class A spec industrial space, but also a desire by businesses to be in the Gateway area,” said District 6 Councilmember Kevin Thompson. “Adding Landing 3 to the existing 1 million square foot footprint is the perfect new addition to the area and region.”

Marwest partnered on the project with a large institutional equity provider; construction financing was provided by a regional bank.

“We’re excited to grow our relationship with Mesa and our existing partners at PMG,” said David Martens, Principal with Marwest. “There is a tremendous amount of momentum in Mesa. We continue to see significant economic growth and sustained interest for these projects – we’re very pleased to be there.”

Additional partners on the project include: CapMatrix LTD, which served as strategic capital markets advisor on the transaction; Ware Malcomb, architect; Willmeng Construction, general contractor; Hunter Engineering as the civil engineer; and leasing handled by the Wentis/Cosca team at CBRE.