TUCSON, ARIZONA — The partners of Chapman Lindsey Commercial Real Estate Services, Jim Marian, Alan Moore and Dan Feig, recently sold their office since 2010 at 7411 E Tanque Verde Road in Tucson. The partners have decided that working remotely suits them well.

In 1991, Swain Chapman, Paul Lindsey, Ben Becker, Daniel Feig and Jim Marian formed Chapman Lindsey Commercial Real Estate Services. Today, Marian and Feig are the only remaining original partners and Alan Moore, the designated broker. Although their specialties overlap with one another, Feig will continue to concentrate on selling subdivisions and vacant land; Moore continues to sell and lease office and industrial space; and Marian works with special land, which can be different than other segments of commercial real estate.

For many companies, the pandemic showed us how to work successfully from home. COVID forced large segments of the workforce to go through a remote-work experiment on a scale never seen before — and many companies, like Chapman Lindsey, plan to remain 100% remote post-pandemic.

The office condominium asset sold for $424,085 ($202 PSF) with office furnishings sold separately.

The selling partners were self-represented and Dean Cotlow with Cotlow Company represented the buyer, a financial planner who will also owner occupy the space.

For more information, Moore should be reached at 520.747.4000 ext. 105, Feig is at ext. 103 and Marian is at ext. 106. Cotlow can be reached at 520.881.8180.

To learn more, see RED Comp #9504.

Colliers Handles Off-Market Transaction for Washington-based Investor

PHOENIX, ARIZONA – Colliers in Arizona has completed the $18.25 million ($257,000 per unit) off-market purchase of Gateway Scottsdale, an apartment community at 5245 E. Thomas Rd. in Scottsdale.

Chris Roach, Brad Cooke, Matt Roach and Cindy Cooke of Colliers in Arizona handled the off-market transaction. EZ Real Estate, a Washington-based company, purchased the property from Phoenix-based Bear Holdings Group LLC.

“Gateway Scottsdale sits in a phenomenal location being just several miles from Old Town Scottsdale, Arcadia, ASU and Phoenix Sky Harbor Airport,” says Chris Roach with Colliers in Arizona. “With single-family homes north of Thomas averaging sales of $1.1 million, most residents are priced out and forced to rent. Gateway Scottsdale was beautifully renovated and re-branded from 2020-2021 by the sellers, allowing the new buyer to focus on operations and capture some additional value-add by installing in-suite washers/dryers and better amenitizing the open grass common areas.”

The garden-style community contains 71 units totaling 37,115 square feet, bringing the sale price to $491 per square foot. Constructed in 1968 and fully remodeled from 2020-2021, the studio, one- and two-bed units at Gateway Scottsdale average 523 square feet.

Composed of two-story construction on approximately 2.27 acres, Gateway Scottsdale features a gated entry, swimming pool with sundeck, a dog park, central courtyard area with a water feature, barbecue grills and picnic areas. Once washers/dryers are installed in individual units, the buyer plans to repurpose the laundry room into an amenity space.

Located along Thomas Road near the Loop 202 and US-143, Gateway Scottsdale sits within one of the largest and most dynamic employment corridors in Arizona. The property’s access to transportation provides convenient access to Downtown Scottsdale, Downtown Tempe, Midtown Phoenix and Downtown Phoenix.

PHOENIX, ARIZONA – The Arizona Chapter of NAIOP, the Commercial Real Estate Development Association, was named 2022 Large Chapter of the Year at the annual Chapter Merit Awards (CMAs).

NAIOP Arizona also won an award for a record Highest Number of New Members among the 52 chapters across the U.S. and Canada last year. NAIOP Arizona added more than 270 new members in 2021, a 13 percent increase. This advanced the Arizona Chapter to being fifth largest, up from seventh place, in the entire North America network.

NAIOP’s corporate headquarters honored 14 chapters and nine individuals. The CMAs recognize success in education, special events, legislative advocacy, membership, diversity/equity/inclusion, and leadership, as well as individual recognition and Chapter of the Year. Recipients are selected by a committee of their peers comprised of volunteer judges in an extremely competitive process.

The Chapter of the Year Award honors chapters for overall excellence throughout the year, including involvement with NAIOP Corporate, chapter growth, community service, organizational management, and more.

“We are grateful to our many long-term and new members who are the backbone of this association. Their active involvement and tireless volunteer efforts have enabled us to perform at exceptional levels across events, mentorship, education, and legislative advocacy,” said NAIOP Arizona President and CEO Suzanne Kinney. “Additionally, I am thankful for the valuable contributions from our Vice President, Katrina DeBaker; Administrative & Financial Manager, Lutfiyah Kusy, and our entire Board of Directors.”

NAIOP Arizona has won a national award 15 out of the past 16 years. Besides being named Large Chapter of the Year several times, the chapter has also won the Chapter Merit Awards in recent years for Education, Membership, Communications, and Government/Legislative Affairs.

“This year’s winners – NAIOP Arizona (Large Chapter) and NAIOP Raleigh Durham (Medium Chapter) of the Year – have truly raised the bar, demonstrating an unyielding dedication to providing value for NAIOP members at every level,” according to a statement from NAIOP corporate.