SCOTTSDALE, ARIZONA – Diversity is a broad term. In real estate, it means representing all communities with a variety of racial, ethnic, socioeconomic, and cultural backgrounds, and a wide range of lifestyles and experiences.

It’s recognizing and representing different demographic groups in a given market area resulting in better advocacy for education, homeownership and private property rights. In order for real estate companies to be able to relate to a diverse population, it’s important to have representatives of these diverse populations providing input to decisions.

ULI Arizona’s DEI Committee presents “Advancing Arizona’s Real Estate Industry Through Diversity” on May 19, from 4 p.m. to 6 p.m. at the John Paul Theatre on the Phoenix College campus, 1202 W. Thomas Road, Phoenix.

“As a society, we have taken a number of strides towards fairness and understanding communities that for many historical reasons, were not in the forefront. This particular event will help to enlighten us all about the importance of continuing the work of creating a pipeline of diverse future real estate innovators,” said DEI Committee Vice Chair Oscar De las salas with Gensler.

ULI Arizona’s DEI Committee works to provide strategic guidance and implement systems to engage students, youth, and leaders of diverse backgrounds with professional opportunities and resources within ULI and the real estate and development industry. It has partnered with Project Destined, a global, social impact platform that teaches underserved youth the fundamentals of commercial real estate.

Students work with leading executives to evaluate live deals in their community and present them in a pitch competition. Scholars emerge with the skills, confidence, experiences, and networks that prepare them to secure a strong first job. Educating underserved youth about the industry provides them with the tools to make better decisions about issues in their communities, either as participants in land use discussions, as entrepreneurs, or as employees of real estate related companies.

Catherine Anaya, a three-time Emmy Award-winning broadcast journalist will serve as moderator. Panelists will include Alexis Barber, student and Regional Production Director, Project Destined; C. Joseph Blackbourn, President and CEO, Everest Holdings; Cedric Bobo, Co-Founder and CEO, Project Destined; and Natalia Chavez, Development Analyst, Dominium.

Registration pricing varies from $30 for members to $40 for non-members. Students may register for free. Register here.

TUCSON, ARIZONA – The Nunez Self-Storage Group represented the seller in the disposition of a self-storage and RV asset in Tucson. The asset sold for $5.425 million ($181,000 per rental space).

NAI Horizon Executive Managing Director Denise Nunez and First Vice President Victoria Filice, CCIM, represented the seller, Vault at Old Vail Road LLC, of Vault Storage & RV, 7475 E. Old Vail Road in Vail area of Tucson. The buyer was Van West Acquisitions LLC.

“The seller, a group based in Tucson, purchased this facility just 17 months prior. They were able to increase rents and improve operations in a short amount of time to realize a solid return for their investors,” Nunez said. “The buyer paid market value for a stabilized property which has room to grow through rental increases.”

Built in 2010, Vault Storage & RV offers covered and uncovered RV spaces as well as a wide variety of storage units. The asset totals 330 units – 111 drive up storage units, 128 covered parking spaces, 90 outdoor parking spaces, and one commercial building.

Amenities include security fencing, electronic keypad access and after-hours onsite security guards. It is close in proximity to Rita Ranch, Mesquite Ranch, and Groves Lincoln Park communities.

The Nunez Self-Storage Group closed more than $140 million in transactions in 2021.

To learn more, see RED Comp #9795.

2.3M s.f. Class A industrial project sits near Luke Air Force Base and Northern Parkway

GLENDALE, Arizona – LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Co., has completed a $53 million  ($379,000 per acre), 140-acre land acquisition in Glendale, Arizona for its next mega metro Phoenix industrial project, Luke Field. The $515 million, 2.3 million-square-foot development is bordered by Litchfield Road, Northern Avenue, the new Northern Parkway and Luke Air Force Base. It is minutes from the Loop 303.

When complete, Luke Field will include three buildings totaling 1.26 million square feet, 604,000 square feet and 416,000 square feet. All buildings will have the same high-end “creative industrial” amenities that LPC has become known for through other award-winning industrial projects, such as the nearby Park303.

Luke Field is named after the adjacent Luke Air Force Base, home to the 56^th Fighter Wing, part of the Air Education and Training Command, the largest fighter wing in the U.S. Air Force.

“We have a history of connection to Luke Air Force Base, so the ability to purchase this land and develop near the base, within this powerhouse industrial submarket, is something we will truly enjoy,” said Lincoln Property Company Senior Executive Vice President David Krumwiede, who along with LPC Vice President John Orsak have both served as an Honorary Commanders for Luke’s 56^th Fighter Wing.

“Our industrial projects build above and beyond in quality and modern capability. This project will be no different,” said Orsak. “We have countless global industrial users looking to establish major operations within the Loop 303 and Northern Parkway corridors. Luke Field is designed to attract those tenants and the economic and employment stability that they represent for the Valley.”

Features of Luke Field will include 40’ clear height, touchless technology throughout, 25’ tall glass entries, 3,000 amps of power (expandable), automated dock doors, steel moment frame shear bracing and generous 5’ x 10’ clerestory windows on all elevations, providing sky views and shifting natural light. Indoor/outdoor amenities will include barbeque stations, a shaded outdoor eating area and employee collaboration spaces. The project will provide extensive car and secure trailer parking.

Luke Field sits directly next to the Northern Parkway, a new, 12.5 mile, high-capacity roadway that allows employees and trucks to circumvent traffic on Interstate 10. Northern Parkway also provides a direct, rapid connection between the Loop 303 and Loop 101/US 60/Grand Avenue. The combination offers strategic regional transportation connections for logistics-centric users, including destinations such as the port of Los Angeles and Long Beach to the west, and Nevada and other mountain states to the north.

Corporate neighbors to Luke Field include Walmart, Boeing, Microsoft, White Claw, XPO Logistics, UPS, REI, SubZero, Daimler-Benz, Red Bull, Ball Corporation, Aldi and Williams Sonoma.

Construction on Luke Field is scheduled to begin Q4 2022 and complete Q1 2024. All three buildings will be constructed in a single phase. Butler Design Group is the architect for Luke Field. A general contractor has not yet been selected.

To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.