Above: Front row, from left: Morgan Betancourt, Okland Construction; Stephanie Maderazzo-Hughes, Canyon State Electric; Vicki Robinson, JLL; Michelle Heeb, Forward Tilt; and Nancy McClure, CBRE. Second row, from left: Kathleen Morgan, Newmark; Dani Huval, Chasse Building Team; Heather Skinner, JP Morgan Chase; Carrie Kelly, AAED; and Angela Watson, Shepley, Bulfinch. Third row, from left: Bev Jensen, Colliers; Alicia Hardwick, Prologis; Alexandra Loye, Cushman & Wakefield; and Keri Davies, LevRose Commercial Real Estate. (Photos by Amber Legler and Mike Mertes. Photo illustration by Mike Stevens)

AZ Big Media has named Nancy McClure with CBRE Tucson to Most Influential Women in Commercial Real Estate for 2022.

Inspiration comes in many forms for AZRE magazine’s Most Influential Women in Commercial Real Estate for 2022.

“I’m inspired by women in the construction industry,” says Morgan Betancourt, project director for Okland Construction. “In a historically male-dominated industry, women have gone — and continue to go — above and beyond to prove that we belong. The women I’ve met and worked with are passionate, detail oriented and driven to provide greater representation in the field.”

For others, inspiration hits very close to home.

“My paternal grandmother was a pastor’s wife who lost her husband to the influenza epidemic at the beginning of the Great Depression,” says Bev Jensen, regional operations manager for Colliers. “Having lost their church-provided housing, she moved her two children — ages five months and eight years — to a small farm in the country and drove the long commute to the city every day to work to support them. As a working single mom during the Depression, she epitomized strength, determination and an amazingly positive attitude. She taught me to always strive to do my best.”

Jensen and Betancourt — along with the rest of the Most Influential Women in Arizona Business and the Most Influential Women in Commercial Real Estate for 2022 — will be featured in the July issues of Az Business and AZRE magazines.

They will also be honored at a recognition dinner Thursday, August 25, 2022, at Chateau Luxe in Phoenix. Tickets are on sale now. Tables and sponsorship packages are available. Please email Amy Lindsey at [email protected] with questions about sponsorships. Email [email protected] with questions about the event or tickets.

The Most Influential Women of 2022 were chosen from a field of more than 1,500 women under consideration. They were selected by an editorial board that consists of 12 former Most Influential Women. 

Be sure to check back daily starting July 6, 2022. Each day leading up to the awards ceremony, we will profile one of the Most Influential Women of 2022 right here: azbigmedia.com.

Most Influential Women in Commercial Real Estate for 2022

• Morgan Betancourt, project director, Okland Construction 
• Keri Davies, partner, LevRose Commercial Real Estate
• Alicia Hardwick, leasing manager, Prologis
• Michelle Heeb, president and CEO, Forward Tilt
• Dani Huval, business development director, Chasse Building Team
• Bev Jensen, regional operations manager, Colliers
• Carrie Kelly, executive director, Arizona Association for Economic Development
• Alexandra Loye, executive managing director, Cushman & Wakefield
• Stephanie Maderazzo-Hughes, CEO and COO, Canyon State Electric
• Nancy McClure, first vice president, CBRE (Tucson)
• Kathleen Morgan, managing director, Newmark
• Vicki Robinson, senior vice president, JLL
• Heather Skinner, vice president of global real estate, JP Morgan Chase
• Angela Watson, president and CEO, Shepley Bulfinch

Medical Office Building is Adjacent to Abrazo Scottsdale Campus

PHOENIX, ARIZONA – A private equity fund has purchased 40^th Street Medical Plaza, located at 16601 N. 40^th St. in Phoenix.  The two-story, three-building medical office development is well located adjacent to the Abrazo Scottsdale hospital campus.

“This asset offered outstanding upside potential for the investor,” says Mindy Korth with Colliers in Arizona.  “The renovated property’s anchor tenant signed a 10-year lease with the new owner, enhancing the value of this very stable development.”

A private equity fund purchased the property from 16601 N 40th Street, LLC.  Korth represented the seller in the transaction.

40^th Street Medical Plaza was built in 1986 and renovated in 2015.  The garden style property contains 41,703 square feet of quality medical office space.  The property is 77.4 percent leased to 11 tenured specialty and primary care medical providers.  One of the state’s most prominent surgical specialists, Valley Surgical Clinics, occupies approximately one-third of the development’s space.

Located within an ideal medical services hub, 40^th Street Medical Plaza is just south of the intersection of 40^th Street and Bell Road.  Recent renovations created a modernized overall appearance both on the exterior and interior of the buildings.  The submarket has a high barrier to entry from future competition and the new owner is expecting to benefit from revenue growth that will come from leasing vacant space, as well as stable tenancy of existing occupiers.

TUCSON, ARIZONA – Flint Development (“Flint”) acquired 47.74 acres from several affiliates of Tucson-based Red Point Development (Daniel Leung, manager) at the southwest corner of Alvernon Way and Valencia in Tucson for $10.4 million ($217,805 per acre) being called Tucson Commerce Center.

Tim Healy, First Vice President with CBRE Tucson, represented Flint Development and Jason Wong, CCIM, MBA, LEED-AP with Red Point Development, represented the sellers.

The asset closed on June 17, 2022.

Flint is a commercial real estate development firm based in Kansas City, specializing in industrial, multi-family and senior living development throughout the country.  Flint has over 50 years of combined experience and a proven history in development projects making positive impacts in communities.

Tucson Commerce Center is to break ground on 806,606 square feet of industrial spec space in three high cube warehouse buildings simultaneously. Building 1 at 3610 E Valencia is 302,443 square feet, building 2 at 3780 E Valencia is 259,274 square feet, and building 3 at 6690 S Alvernon Way is 244,889 square feet.  All are being constructed together with groundbreaking anticipate for early August with completion for Q2 2023.

Tucson Commerce Center will have an aggregate of 196 trailer spaces, 80 dock doors, and 6 drive-in doors, all with 32 feet clear height.

Flint has $1.35 billion and 18 million square feet of development in its project pipeline including the Southern Arizona Logistics Center in Marana where Flint is constructing two buildings totaling close to a million square feet. One building at 507,600 square feet and the other at 431,460 square feet located at W Clark Farms Blvd, Marana, Arizona 85653, near Gladden Farms. This is all part of phase one of the project breaking ground in July with an estimated completion by Q2 2023.

“We are really excited to be working with Flint Development on the lease up of the Tucson Commerce Center and Southern Arizona Logistics Center,” said Healy. “It’s great to have a company like Flint building class A warehouse distribution buildings in Tucson and Marana. This will be the first logistics hub in Marana and the premier hub in the Tucson metro area with almost 1.8M square feet combined.”

Tucson is Flint’s entry into Arizona. Flint has strategically developed over $80 million and 1.3 million square feet of speculative industrial space to deliver solutions that meet future demands and growth opportunities in other key markets. The company is in approximately 25 markets and prefers market sizes such as Tucson with populations close to 1 million versus larger metro areas such as Phoenix.

For more information on this sale, Wong can be reached at 520.408.2300 ext 109. Healy can be reached on this sale or leasing information at 520.323.5119.

To learn more, see RED Comp #9952.