TUCSON, ARIZONA – Longtime Sundt employee-owner and construction industry veteran Cade Rowley has been promoted to President of Sundt Construction’s Industrial Group – West. In his new role, Rowley will be responsible for all business development, preconstruction and operations for the general contractor’s industrial construction work throughout the Western U.S. and water/wastewater projects across the country.

“Cade brings a depth of leadership talent and business acumen to this important role,” said Sundt’s CEO and Chairman of the Board, Mike Hoover. “His skill as a builder, combined with his large project experience and industry knowledge, will make him an exceptional leader for the group.”

Rowley joined Sundt in 1998 as a field engineer and has served in multiple positions across the organization in the years since. As a recognized expert in alternate project delivery methods, he has managed and led a number of design-build and construction manager at-risk projects to successful completion.

Most recently, Rowley served as Senior Vice President overseeing Sundt’s transportation and heavy civil work throughout the Southwest and Intermountain regions. His teams have successfully built several billion dollars’ worth of water/wastewater distribution projects, critical flood control projects, bridge construction and highway expansions, and light rail projects across a number of states using various project delivery methods.

Two of these projects, the Valley Metro Rail Gilbert Road extension near Phoenix and the GO 10 collector-distributor lanes in El Paso, won Build America Awards, the construction industry’s most prestigious honor. In addition, those projects and numerous others under Rowley’s guidance have won Engineering News-Record (ENR) regional Best Project Awards. The awards are given annually by ENR, the industry’s leading publication, to highlight the year’s best construction projects across the U.S.  

“I am honored to work with the Industrial West team,” Rowley said. “The Group has built itself into a national expert across the semiconductor, water, mining and power sectors. I look forward to leading this talented group of industrial construction experts.”

Rowley graduated from Arizona State University with a degree in civil engineering and is a registered professional engineer. He places a high value on community and industry service, as evidenced by his involvement in organizations such as the Arizona Chapter of the Associated General Contractors (AGC) of America, where he serves as Chairman of the Board of Directors, and as a member of the Board of Governors and Political Action Committee Board of Trustees for the national AGC. Rowley is also a longtime member of the Sundt Foundation, the company’s philanthropic arm.

Sundt’s Industrial Group is nationally ranked in water/wastewater treatment plant and sewerage and solid waste construction and is a leading semiconductor and manufacturing construction expert. The company is currently working on several semiconductor projects in the Southwest, a water reclamation plant for the Salt Lake City Department of Public Utilities, the San Francisco Public Utilities Commission’s new Southeast Water Pollution Control plant’s new headworks facility and the City of San Mateo’s Wastewater Treatment Plant’s nutrient removal and wet weather flow management upgrade and expansion. 

TUCSON, ARIZONA — Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., completed the previously announced acquisition (the LHM Acquisition), which includes Larry H. Miller Dealerships (LHM Dealerships) and Total Care Auto, Powered by Landcar (TCA ) from the Larry H. Miller Group of Companies (LHM Group), adding 54 new vehicle dealerships, seven used vehicle dealerships, 11 collision centers, a used vehicle wholesale business and an F&I product provider. The LHM Acquisition will add approximately $5.7 billion in annualized revenues.

Included in the combined $28.7 million purchase for Tucson real estate was:

• Larry H Miller Volkswagon at 900 West AutoMall Dr.
• Larry H Miller Alfa Romeo & FIAT at 1000 W Wetmore Rd
• Larry H Miler Chrysler Jeep at 7800 E 22nd Street, 1300 & 1350 S Pantano Rd
• Larry H Miller Dodge Ram at 4220 E 22nd Street

“We are excited to complete the transformative acquisition of Larry H. Miller Dealerships. With its strong culture and stewardship mentality, coupled with the ability to rapidly expand Asbury’s presence into these desirable, high-growth Western markets, it is a rare opportunity,” said David Hult, Asbury’s President and Chief Executive Officer. “Larry H. Miller Dealerships is a well-run operation with a rich history, and we are honored to be the stewards of Larry and Gail’s vision. We have enjoyed getting to know the Larry H. Miller team members during this acquisition process and look forward to working together to continue the journey.”

“Our family expresses deep gratitude to the employees of Larry H. Miller Dealerships for their ongoing commitment to our organization over the past 42 years,” said Gail Miller, Owner, LHM Group. “Our employees have continually exemplified our values of hard work, stewardship, integrity and service. Their dedication to our customers and our communities has allowed us to become the second largest privately held automotive group in the nation. We treasure them, our loyal customers, many partners and deep friendships built during four decades in the automobile business. David Hult and his team have been exceptional to work with and we appreciate their approach and care during this transaction. Our family looks forward to continuing our mission of enriching lives through reinvestments in new business opportunities and continued philanthropy.”

“We couldn’t be more pleased with the approach and stewardship Asbury Automotive Group has taken during this process,” said Steve Starks, Chief Executive Officer, LHM Group. “We know they are people-focused, which includes their associates and customers. Our employees now have an opportunity to continue building an exciting future with a leading automotive group that will have coast-to-coast operations. We want to thank Dean Fitzpatrick and the LHM Dealerships leadership team for their incredible work and tenacity throughout this transaction, as well as their constant efforts over the decades to grow the automotive business. Moving forward, the LHM Group expects to further diversify and grow our portfolio of operating businesses and investments.”

This acquisition diversifies Asbury’s geographic mix, with entry into six Western states: Arizona, Utah, New Mexico, Idaho, California and Washington, and adds to its growing Colorado footprint. LHM Dealerships portfolio mix of largely domestic brands has historically delivered strong and stable margins in these markets.

LHM Dealerships sold approximately 120,000 new and used vehicles in the 12 months ended September 30, 2021.

In addition to the dealerships, Asbury acquired TCA, a leading provider of service contracts and other vehicle protection products, providing enhanced profitability and cash flow.

“TCA is comprehensively integrated with Larry H. Miller Dealerships and presents a compelling opportunity for Asbury to generate significant additional operating income by activating this captive top-quality F&I products provider across our entire, now national, store footprint. Like the dealerships, this service contract company is extremely well run.” Hult said. “Our now national footprint with our digital retailing capabilities in Clicklane and the full reach of TCA create a truly expansive platform of dealerships.”

“We are excited to complete this transaction and to join Asbury,” said Dean Fitzpatrick, President, LHM Dealerships. “Our team is proud to share in the heritage and foundation created by Larry and Gail, and the entire Miller family. We are grateful for the opportunities they provided to our employees and their families. It is with much admiration and appreciation to the Millers and the LHM Group that we now take our first step forward as part of Asbury, a well-respected and employee-focused national leader. We know our LHM Dealerships customers will continue to experience exceptional service.”

With the LHM Acquisition, in total, Asbury has acquired $6.6 billion in annualized revenue in 2021, achieving its five-year target of $5 billion in acquired revenue during the first year of the strategic plan. Asbury maintains a strong balance sheet and expects to provide an update on its strategic plan in April 2022, along with first quarter earnings.

In late 2020, Asbury embarked on a five-year plan to increase revenue and profitability strategically through organic and acquisitive growth as well as their innovative Clicklane digital vehicle purchasing platform, with its guest-centric approach as Asbury’s constant North Star. Asbury currently operates 155 dealerships, consisting of 205 franchises, representing 31 domestic and foreign brands of vehicles. Asbury also operates seven stand-alone used vehicle stores, 35 collision repair centers, an auto auction, a used vehicle wholesale business and an F&I product provider. Asbury offers an extensive range of automotive products and services, including new and used vehicles; parts and service, which includes vehicle repair and maintenance services, replacement parts and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance.

To learn more, see RED Comps #9584, #9557 and #9542.

PHOENIX, ARIZONA – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $7,000,000 / $333,333 Per Unit / $338.16 Per SF sale of Bella Villas Apartments, a 21-unit multifamily apartment community located in Scottsdale, Arizona. ABI Multifamily’s Royce Munroe represented the buyer and seller.

The buyer and seller are based in Arizona.

Built in 1960, Bella Villas Apartments is a 21-unit garden-style condominium community comprised of 100% two-bedroom / one-bathroom floorplans with 10 of those units being townhome-style floorplans. Tenants will enjoy onsite laundry, private yards, covered parking, and a community swimming pool. Interior amenities include air conditioning / heating, refrigerator, and range / oven.

Bella Villas Apartments is located adjacent to ASU’s SkySong Center in Scottsdale and is equidistant to Old Town Scottsdale and Downtown Tempe. The property also has easy access to the 101 and 202 Freeways and is just a short drive to Sky Harbor International Airport, the Arizona State University Tempe Campus, Tempe / Marina Heights employment hub, and all the dining and retail options available at the Tempe Marketplace.