Larsen Baker Sells Centre East Building to Camp Bow Wow

TUCSON, ARIZONA –Larsen Baker recently sold 7810 E Broadway Blvd. Tucson, AZ, a freestanding office building at Centre East to Lucy & Co. Inc., dba Camp Bow Wow. The property sold for $690,400 ($100 PSF).

Camp Bow Wow is franchise for dog day care and boarding center offering training and grooming services. Camp Bow Wow has a proven track record with more than 20 years of experience and over 190 units in the U.S. and Canada and dozens more in development. With that many locations from coast to coast and in every major region of the country, we’ve learned a few things about the best way to select a site for your new Camp Bow Wow franchise.

Isaac Figueroa with Larsen Baker represented the seller, Centre East Center, LLC, an affiliate of Larsen Baker. Brian Harpel with Velocity Retail Group represented the buyer.

Figueroa should be reached at 520-296-0200 ext 218 for more information and Harpel is at 520.721.7999.

To learn more see RED Comp #9597.



CBRE: 2021 U.S. Investment Volume Hits Record $746 Billion

Phoenix was the sixth largest investment market with $29 billion in 2021, up 137 percent from the prior year. The region ranked No. 4 in industrial investment growth, which climbed 127 percent to $6.23 billion, and No. 2 in retail investment growth at 218 percent to $2.46 billion. While multifamily and industrial investments lead other specialties, office volume nationwide surged 73 percent to $50 billion from COVID-suppressed levels in Q4 2020.

Executive Summary

  • Total U.S. commercial real estate investment volume of $296 billion in Q4 2021 brought the full-year total to $746 billion, both record levels.
  • Multifamily led all sectors for investment volume in Q4 ($136 billion) and for the year ($315 billion).
  • Although Los Angeles and New York had the highest levels of investment in 2021, Sun Belt markets had the strongest year-over-year growth rates, including Las Vegas (232%), Houston (191%) and South Florida (179%).
  • Private buyers accounted for the most Q4 investment volume ($143 billion), while REITs/public companies had the highest year-over-year growth rate of 153% to $35 billion.
  • Cross-border investment in the U.S. increased by 115% year-over-year to $29 billion in Q4. Foreign capital accounted for $56 billion or 7.5% of total investment volume in 2021.
  • Canada was the largest source of foreign capital in 2021 with $21 billion, followed by Singapore with $15 billion.

To read the full report click here.



Newmark Hires Scott Scharlach to Join Phoenix Capital Markets Team

Phoenix, Arizona — Newmark is pleased to announce the hiring of real estate industry veteran Scott Scharlach as Managing Director. Scharlach will join the Phoenix Capital Markets team where he will partner with Executive Managing Director CJ Osbrink. With more than 15 years of commercial real estate experience, Scott has substantial expertise in all aspects of real estate investing including underwriting, due diligence, financing, leasing and asset management.

“We are thrilled to bring Scott’s expertise to our Phoenix Capital Markets platform,” said Greg May, Executive Vice President and West Region Market Leader. “His extensive experience and relationships throughout the capital markets segment will be a valued addition to our growing team.”

Scharlach joins Newmark after spending nine years as a commercial real estate principal, originally as Co-Founder and Partner at Progression REI, and subsequently as a Partner with Waterford Property Company. Scharlach has led acquisitions of more than $175 million in total value. Notable purchases have included a 550,000-square-foot power center anchored by Walmart and Lowe’s in Las Vegas and the acquisition of a defaulted note secured by a 350,000-square-foot retail center in Downtown Long Beach.

Scharlach began his career in commercial real estate with Travers Realty as an office leasing broker specializing in representing tenants in their search and negotiation for office space in Downtown Los Angeles. He then joined CBRE, where we worked until returning to graduate school to earn his master’s degree in Real Estate Development.

“I’m excited to be joining the team at Newmark and look forward to partnering with CJ to add value to the capital markets team here in Phoenix,” said Scharlach. “Newmark’s impressive platform will allow me to expand existing relationships and build new ones to deliver first-class results for our clients.”

Scharlach earned his undergraduate degree with a concentration in Real Estate Finance from the Marshall School of Business at the University of Southern California. He subsequently received his Master of Real Estate Development from the Price School of Public Policy, also from USC.