Industrial Real Estate Leader Earns Title Through Production

PHOENIX, ARIZONA – Rob Martensen, CCIM, SIOR has been promoted to Senior Executive Vice President with Colliers in Arizona. Martensen is a leading industrial properties specialist who has served clients in Arizona for 24 years.

“Rob stands out as a remarkable producer and leader both within the Colliers community and the real estate industry overall,” says Bob Mulhern, senior managing director with Colliers in Arizona. “The prestigious Senior Executive Vice President title is only held by six active Colliers Arizona brokers and is given as acknowledgement to our most outstanding and respected professionals. In addition, he serves as a West Regional Director of SIOR and contributes a great deal to our Greater Phoenix community.”

Martensen is a relationship driven broker. His relationships bring repeat clients that trust him because of his expertise in all things industrial, including Landlord representation, user and developer land sales, build-to-suits, ground-up speculative developments, and tenant representation. He has completed more than 700 transactions, which in 2021 included an 802,439-square-foot lease for Best Buy, a 144-arce land purchase by Nestle and representing The Gap in its 412,405-square-foot warehouse lease renewal.

Outside of commercial real estate brokerage, Martensen serves the community by serving on the Board of Colliers AZ Cares, has taught classes for Junior Achievement of Arizona and helps raise funds for multiple causes. He also is a semi-professional off-road race car driver and has won the prestigious Baja 1000 off-road race in Baja, Mexico.

TUCSON, ARIZONA – Cox Communications Corporate Office at 1440 East 15^th Street in Tucson sold in a net lease transaction for $8.15 million ($263 PSF). The 28,591-square-foot building on 4.86-acres was built in 1988 as a built-to-suit for another television station and was later used for a local radio station.

The radio tower continues to be leased separately to another company.

The nation’s 4^th-largest cable provider, Cox services residents of Tucson, South Tucson, Davis-Monthan, Patagonia, Green Valley and parts of Sahuarita. Since 1994, Cox has offered broadband, digital cable, cable and Internet services and PPV along with several local specialty channels, including the City of Tucson channel and several public-access channels.

Property was fully leased to Cox Communications that will continue to occupy it in a net leased investment sale that sold at a 5.9% cap rate.

Mindy Korth of Colliers (Phoenix) represented the seller, Net2 Cox, LLC of New York and the investor, 1440 E 15^th Street, LLC of Irving, Texas.

For more information, Korth should be reached at 602.222.5005.

To learn more, see RED Comp #9790.

PHOENIX, ARIZONA — Decron Properties has acquired Tamarron Apartments, a 328-unit garden-style multifamily community in Phoenix, for $128 million. Tamarron, which comes on the heels of Decron’s recent $107.5 million purchase of Ascent at Papago, increases Decron’s local portfolio to approximately 2,100 units.

While Tamarron is Decron’s eighth acquisition in Phoenix, it is the firm’s first in the West Valley, a booming submarket with 1.7 million residents that is expected to grow to 2.1 million by 2030. The growth has been fueled by an influx of large industrial and healthcare companies moving into the area.

To accommodate the migration into the area of companies such as Taiwan Semiconductor Manufacturing Company, KORE Energy and countless logistics companies, more than 25 million square feet of industrial buildings are currently under construction. Healthcare is another growing industry in the market, with 36 percent of all healthcare workers in Maricopa County living in the West Valley.

“This acquisition in the West Valley now gives us exposure to the entire Phoenix MSA,” said Decron CFO Daniel Nagel. “When we entered the market a year ago our objective was to be in all of the growth areas of Phoenix and with this acquisition in the West Valley, our portfolio now successfully reflects that goal.”

Located at 4410 N 99th Ave., Tamarron offers a mix of one-, two- and three-bedroom floor plans housed in 42 two-story residential buildings.  Built in 2005, Decron plans to make upgrades to both the units and common areas that will reflect the high standards of excellence residents of all Decron properties have come to expect.While Decron has built an extensive portfolio in Phoenix over the last 12 months, Nagel believes there is still plenty of runway that exists for future acquisitions in Phoenix.

“Yes, high interest rates make the ability to acquire assets more challenging than it was a year ago when we entered the market, but we plan to remain active moving forward.”