Past President elevates in role as the CEO and Chairman of the Board

PHOENIX, ARIZONA – Specialized Services Co. (SSC), recognized as one of Arizona’s leading underground construction companies since 1969, has named 30-year company veteran Arvid Veidmark III as its new President to lead its continuous growth plans. After serving for more than 21 years as its previous President, Marcia Veidmark is taking on the role of Chief Executive Officer and Chairman of the Board.

In March 2022, SSC was recognized as the “Contractor of the Year” by Equipment World, and Veidmark’s vision is directly positioned to continue the future-forward focus of recession-proofing the company. SSC has been strategic in this approach by implementing additional services they have determined will better serve their clients, such as the vacuum excavating service that allows them to be involved at different phases of the project. Even before holding the official position of President, Veidmark has been brainstorming ideas on how SSC can create invaluable improvements to leverage a quicker turnaround for jobs.

While maintaining SSC’s current level of production, coupled with its vacuum, hydrovac and trenchless services, Veidmark is leading the company to further implement its Trenchless Constructability and Design (TCD) consulting arm. The TCD growth will make SSC the go-to firm to provide input on designing tunneling and other trenchless projects proactively.

“It is an honor to be serving my family’s company of over 50 years, and like all the other roles I’ve served at SSC since the age of 10 and full-time since 1993, I do not take this role and its responsibilities lightly,” said Arvid Veidmark III, President at SSC. “My vision for enhancements to the company’s offerings also include expanding a well-rounded leadership team with experience in all facets of the business to keep SSC not only sustained, but growing for the next 50 yrs.”

On that note of building up its leadership, an immediate order of business has been promoting Michelle Walker to Vice President of Operations and Steve Walker to General Manager. SSC prides itself on promoting from within and both dedicated employees have been with the company for 24 and 11 years, respectively.

With these leadership transitions, SSC sees an opportunity for growth in not just its company, but in the individuals it believes will lead in geographically positioning SSC well to service all the growth throughout the southwest portion of Arizona.

For more information on SSC’s service offerings and recent projects, please visit SSCUnderground.com.

MARANA, ARIZONA – An affiliate of MODERNE Communities of Scottsdale (Randy Bury, founder and owner) MC RB Land 154 Marana LLC, purchased 154.55 acres of raw land at the southeast corner of Wentz ad Marana Roads in Marana for a new unnamed subdivision for $8,606,678 ($521,549 per acre). The property sold on a price per acre.

MODERNE is in the process of rezoning the property for approximately 700 SFR lots for development and resale. The property is within 1/4 mile of the 70-acre Barnett Farms the company purchased and subdivided into 251 lots that sold to DR Horton in 2020.

“It is also across from Sanders Grove,” said Bury. “We will be rebranding Sanders Grove to Ranch House with an amended plat for about 3,000 lots ranging in size from 4,500- to 6,500-square-feet.”

Bury holds approximately 810 acres that will include approximately 3,000 lots as part of the masterplan community project. The first phase of Ranch House, or approximately 500 lots is targeted to come to market around mid-2023.

“Demand for new housing in North Marana continues to grow, which is quickly depleting the number of new buildable communities,” Bury commented. “The area is emerging as a jobs corridor with its easy access to I-10. I expect this submarket to continue to be strong and people keep moving here for our warm weather and outdoor lifestyle.”

The transaction was handled by Will White and John Carroll of Land Advisors Organization (Tucson).  White also represented the seller, a California family investment group, PVC Properties when they purchased it in 1998.

White predicted last year to expect the Marana Road Corridor to heat up.

Land Advisors will also handle the marketing of Ranch House.

For more information, White and Carroll should be reached at 520.514.7454.

To learn more, see RED Comp #9747

Building sells for $531 per square foot; a record PSF in Scottsdale, Arizona

Phoenix, Arizona – CBRE arranged the sale of a 10,739-square-foot office property in Scottsdale, Ariz. to a private Northern California-based buyer for $5.7 million. The property sold at a state record of $531 per square foot.

Geoffrey Turbow, Matt Pourcho, Gary Cornish, Anthony DeLorenzo, and Bryan Johnson of CBRE represented the private North Scottsdale-based seller.

Located at 20865 North 90th Place, the high-image property sits within the exclusive DC Ranch’s Market Street, a premier mixed-use neighborhood center in North Scottsdale. The building was designed and built by Salcito Homes in 2005 and is 100 percent leased to five financial services and real estate-focused tenants. The property, which features tall ceilings, hard wood floors, abundant natural light and private terraces, sits within minutes of the Loop 101 Freeway.

Smaller office buildings below 20,000 square feet continue to thrive and outperform larger office buildings in the region, according to CBRE research. Within a 5-mile radius, office vacancy is at 5. 8 percent for office buildings between 5,000 square feet and 20,000 square feet. Scottsdale’s office leasing activity is up nearly threefold compared with last year as tenant demand continues to increase, according to CBRE research.

“At a record per-square-foot price, this sale is a perfect example of the strength of the Class A office market and the robust investor demand for Metro Phoenix in generally and Scottsdale in particular,” said Cornish. “With the nation’s leading population growth and a strong quality of life, Arizona continues to attract aggressive out-of-state capital looking for opportunities in growth markets like ours.”

Due to flight-to-quality, Class A office buildings in Scottsdale, Tempe, Chandler, and the Camelback Corridor remain the most competitive in the Phoenix Metro with significant rent appreciation occurring across these leading submarkets, according to CBRE research.

“With 94 percent of our buyers coming from outside Arizona and 97 percent of which are in a 1031-exchange, we continue to set pricing records, as was the case for this transaction,” said Turbow. “ In fact, we have three other buildings in Scottsdale right now currently in escrow for over $500 per square foot.”