After pandemic pause, Downtown headquarters opens with amenities for work and play

PHOENIX, ARIZONA — After an all-too-familiar pandemic delay, Phoenix-based property management leader Arcadia Management Group (AMG) has relocated and expanded its downtown Phoenix headquarters within the 3550 N. Central office tower. The new space welcomes employees back with amenities for work and play, including a unique attraction for a fourth-floor office tenant… a bowling alley.

“It took us longer than expected to debut our new headquarters, but we were happy that we’re here now,” said Arcadia Management Group President Gary Shaw. “We have exceptional employees who work exceptionally hard, and we have new employees joining the firm each month. This office allows us to accommodate for that growth, making it easier for employees to collaborate and giving them a fun environment in which to celebrate their accomplishments. And nothing says celebrate like a bowling alley!”

Since its founding in Phoenix in 1986, AMG has become a national entity managing more than 60 million square feet of U.S. office, industrial and retail space, and providing tenant and capital improvements through its in-house construction management division.

AMG previously occupied space on the fifth floor of the downtown office tower. Its new headquarters allows the company to relocate and expand within the same building, where it also serves as property manager.

Totaling 18,500 square feet, the new AMG headquarters features independent and collaborative workspaces, a white noise sound masking system, private phone rooms, maternity room, and training and conference space featuring a 20-foot door that opens to seamlessly connect with a full-service kitchen, dining and break area.

The new office also features a human–centric lighting system that mimics the progression of daylight. Starting with soft tones in the morning and gradually increasing in brightness and color temperature throughout the day, this system avoids the fatigue associated with static lighting systems found in “ordinary” offices.

As a nod to the ownership’s Arcadia roots, the new AMG headquarters reception and copy areas feature wood harvested from a tree that had been scheduled for removal within the Arcadia neighborhood.

“Our greatest feat, though, is the bowling alley,” said Mark Zimmerman, Arcadia Management Group’s National Director of Construction Management. “We used carefully selected materials and worked with acoustics specialists to ensure that this amenity had zero sound implications for the tenants above or below us. Being able to problem solve to make the bowling alley vision a reality was a high point for our construction team, and reflects the commitment we make to all of our Arcadia projects.”

Construction on the new AMG headquarters was directed by the company’s in-house construction management division. That same team was responsible for the 2020 transformation of a portion of unused roof and indoor office space at the tower, transforming these areas into a fifth-story outdoor patio and luxury indoor hospitality suite for building employees.

The 3550 building has space available for lease ranging from 2,000 to 12,225 square feet and offering stunning views. For more information, contact leasing brokers Scott Boardman and Dave Carder of Cushman & Wakefield, at 602.954.9000.

Country Club Village Mobile Home Community Closes for $44 million

PHOENIX, ARIZONA — Northmarq’s Manufactured Housing group announced the sale of Country Club Village, a 493-site manufactured housing community located at 2060 N. Center Street in Mesa, Arizona. The buyer was Havenpark Communities, LLC from Orem, Utah.

Northmarq’s Phoenix team of Jared Bosch, Don Vedeen and Chris Michl and the Los Angeles team of Jeff Bensen and Samuel Neumark brokered the sale of the 493 site community for $44 million ($89,249/site) on behalf of the seller, Country Club MHP, LLC from Anaheim, California. The property sold at a sub three capitalization rate.

Country Club Village offered a unique opportunity in the Phoenix metro market to acquire a value-add property at scale. The location in northwest Mesa will allow the buyer to capitalize on the current vacancy by immediately bringing in new home inventory. The community is also on a land lease, which brough another layer of complexity that our team worked with both the buyer and seller on to find a solution,” said Bosch.

Country Club Village was built in 1980 and is situated on 67.28-acres that are located south of Loop 202/Red Mountain Freeway and east of State Route 87/Country Club Drive, with easy access to downtown Mesa. The community includes two resort-style pools, recreation center, basketball court and picnic areas. Country Club Village was 73 percent occupied at the time of sale.

The city of Mesa is the third largest city in Arizona with a population of 520,000 residents. During the past 10 years, the Mesa population has expanded by nearly 80,000 residents, an annual growth rate of more than 1.5%.

JLL Capital Markets completed the acquisition financing for the 150-unit Villatree Apartments in Tempe, Arizona

TEMPE, ARIZONA – JLL Capital Markets announced today that it has arranged the $28.4 million financing for Villatree Apartments, a 150-unit, garden-style multi-housing community in Tempe, Arizona.

JLL represented the borrower, Epic Investment Services, to secure the five-year, floating-rate loan through a correspondent life insurance lender.

Consisting of 11 two-story residential buildings with an attached leasing office, Villatree Apartments was originally constructed in 1980 and has been well maintained with meaningful capital investment and partial unit renovations from previous ownership. Upon acquisition, Epic Investments Services will implement a capital plan to upgrade community amenities and unit interior renovations, transforming Villatree into a premier residential community in Tempe.

The property consists of studio, one and two-bedroom unit types with an average size of 815 square feet. The units feature fully equipped kitchens, spacious closets and private patios or balconies, and select units offer stainless steel appliances and stackable washers and dryers. Community amenities include two swimming pools, an on-site playground, pool lounge areas and on-site laundry facilities. Epic plans to add additional premium units with stainless steel appliances and washers and dryers, as well as install a dog park and outdoor fitness area.

Situated at 1705 S Price Rd., the property’s location is supported by unmatched transit connectivity led by the nearby entry to the Loop 101 and complemented by walkable access to the Valley METRO Light Rail, with the Price Road/Apache Boulevard station located less than one-half mile northeast. The immediate neighborhood surrounding Villatree comprises a mixture of multi-housing projects, The Southwest College of Naturopathic Medicine and commercial developments to the south. The Mekong Plaza and Tricity Pavilions retail centers are located just east of the property and the Southern Palms Shopping Center and Valley Plaza are located to the south.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Director William Haass, Senior Managing Director Eric Tupler and Senior Managing Director Brad Miner.

“Epic is poised to capitalize on strong apartment market fundamentals and will execute a comprehensive value-add renovation program, positioning Villatree as a first-class residential offering in Tempe,” said Haass. “JLL capitalized this deal in a challenging environment that required our team to get creative in our request, which attracted several capital sources to quote the opportunity. Ultimately, we sourced competitive financing terms from a correspondent life insurance company that recognized the strength of the opportunity and sponsor.”

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 and sales 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.