PEORIA, ARIZONA – As the founder and president of a woman-owned commercial brokerage firm specializing in healthcare real estate, Melynn Wakeman says the past 5 years building her company have been some of the best days and some of the most trying days of her life.

“Founding a company from the ground up is hard work, as is being a commercial real estate broker. In the end, you either give up or knock it out of the park, which is what we are planning on doing, one small step at a time,” said Wakeman, whose brokerage firm, Wakeman Integrity, celebrates its fifth anniversary this year.

Founded in 2017, Wakeman Integrity bucked the trend of downsizing during the COVID-19 pandemic. Instead, Wakeman grew her company in 2020 with the addition of two brokers and a team of marketing, website, legal and accounting consultants.

Currently, Wakeman Integrity has added a project manager and IT programmer for the workflow automation along with recruiting a business developer.

“The purpose for founding Integrity was out of the desire to do commercial real estate in a new modern way,” Wakeman said. “Through workflow processes, simplifying the day by adding technologies, virtual assistances and offering a nurturing environment for not only our customers but for those we stand side by side in a deal and do so with class and Integrity.

“Our business tag line ‘Where a handshake still means something,’ represents the ethics of having your word mean everything, and standing by that word, no matter what.”

Wakeman Integrity had a modest beginning. Wakeman opened the office as a one-person operation then added an administrator, Marion Chaney, a year later. Wakeman added agent Kristin Glavin, whose specialties included assisted living, behavioral health, chemical dependency centers, and hospitals.

Wakeman Integrity currently represents Hammes Partners, the largest healthcare developer/investor in the U.S. in a new ground up 45,000 SF Class A medical office building in Buckeye, Arizona, one of the fastest growing cities in the U.S.

Wakeman Integrity also represents Akos, a 68,000 SF Class A medical office campus in Avondale, leasing 12,224 SF with a 12-year term in the first 60 days of listing execution.

The company added Real Nex Software for CRM and market edge and developed a virtual work-flow process. The addition of Glavin paid off. She closed the following deals:

• A 12,000 SF lease representing Sunrise Native Recovery;
• Represented Hope & Healing outpatient care facility;
• Represented Wisemind Sober Living facility;
• Represented Zika Recover by leasing with an option to purchase Serenity Care Hospital, located in Sun City West, a deal well over $5 million.

“Being a business owner is about relationships and time. By looking at how things or processes are being done today and developing a better way is the true definition of being a passionate, visionary entrepreneur,” Wakeman said.

For more information visit www.integrityRealty4U.com.

TUCSON, ARIZONA – Local investors, Torch Properties, LLC (Brandon Rodgers, CCIM, managing director) through an affiliate entity, purchased 8075-8101 E Research Court from Con-Cor International for $1.8 million ($48 PSF).

The sale closed on May 4, 2022.

Built in 1986, the 37,528-square-foot multi-tenant industrial property has two buildings located in the Eastside Research Loop industrial park on 3.11 acres. It was 50% occupied at time of sale with to two tenants.

 “It was the property location in Eastside Reseach Loop Industrial Park as well as the price per square foot that attracted us,” Rodgers told us. “We have plans to rehabilitate the property for multitenant industrial use with up to seventeen tenants divided into 2,160 square-foot bays when completed.”

This was an off market deal. Both the seller Con-Cor International of Tucson (Patricia Conway, director), and the buyer were self-represented in the transaction.

To learn more, see RED Comp #9846.

PHOENIX, ARIZONA — CBRE arranged $25.5 million in financing for a 417,600 square-foot industrial building in Phoenix.

CBRE’s Bruce Francis, Shaun Moothart, Bob Ybarra and Doug Birrell facilitated the 7-year, interest-only refinancing loan on behalf of the owner, Nearon Enterprises, a private real estate investment company based out of Walnut Creek, Calif. Nearon oversees approximately $1 billion in assets throughout Arizona, California, Utah and Colorado.

91st Avenue Distribution Center, which is 100 percent occupied by Gladiator Worldwide Logistics, is in a strategic last-mile location, providing access to about 5 million people within the Phoenix metro area and more than 35 million consumers within a one-day truck haul.

Nearon purchased the property last March at 44 percent occupancy. Upon acquisition, the company was able to quickly lease up the remainder of the space to the current tenant and achieve stabilization less than one year later.

“Nearon’s timing and execution was superb,” said Moothart. “This strategic acquisition provided an opportunity to enter at an attractive basis and take full advantage of the unprecedented growth that has occurred in the Phoenix industrial market.”