The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from July 24 thru 28, 2017.

OFFICE – 1760 E PECOS, GILBERT
Justin Horwitz and Jonathan Levy have leased 4,918-square-feet of office space at 1760 E Pecos in Gilbert. The space was leased to New Direction Fertility Centers, LLC.  The landlord, Rome Towers, LLC, was represented by SVN in the lease deal.

OFFICE – 1440 S COUNTY CLUB, MESA
MBI Urgent Care leased 4,428-square-feet recently.  The location of the property is Mesa Marketplace at 1440 S. Country Club Dr. in Mesa The owner of the center is Mesa Marketplace, LLC.  Jared Lively of Rein & Grossoehme CRE represented the landlord and the tenant on this transaction.

RETAIL – 9190 W UNION HILLS DR., PEORIA
Mary Nollenberger and Rommie Mojahed have leased 4,132-square-feet of retail space to Q Nail Bar, LLC. The space is located at 9190 W Union Hills Drive in Peoria. The landlord was the represented by the Retail team with the SVN Phoenix office.

RETAIL – 1927 N GILBERT RD., MESA
Rommie Mojahed and Beau Flahart have leased 2,000-square-feet at Village Grove Center to Starbucks Corp. The retail space is located at 1927 N. Gilbert Road in Mesa. The landlord, CVP-Village Grove, LLC, was represented by the SVN Phoenix office.

OFFICE – 10240 W BELL RD., SUN CITY
Jonathan Levy and Justin Horwitz have leased 1,472 square-feet to Summit Medical Weightloss Clinics.  They both represented the landlord, 10240 Bell Road Associates, LLC in the transaction. The property is located at 10240 W Bell Road in Sun City.

OFFICE – 16601 N 40^TH STREET, PHOENIX, AZ
A lease for 1,393-square-feet in 40^th Street Medical Plaza building to Dr. Sandhya Venugopal, MD was recently consummated.  The location of the property is 16601 N. 40th Street, Phoenix, AZ.  The owner of the property is 16601 N. 40^th Street, LLC.  Jim Edwards of Rein & Grossoehme Commercial Real Estate represented the tenant.

RETAIL – 20924 N JOHN WAYNE PKWY, MARICOPA, AZ
A lease for 1,331-square-feet to Longevity Athletics, LLC was recently consummated.  The location of the property is 20924 N. John Wayne Parkway in Maricopa, AZ. The owner of the center is SDO Fund II D36, LLC.  Jake Ertle and Kevin Roessler of Rein & Grossoehme represented the Landlord and Trent Rustan of Commercial Properties Inc. represented the Tenant.

OFFICE – 5540 E BROADWAY RD., MESA
Beau Flahart and Rommie Mojahed have leased 1,155-square-feet at 5540 E Broadway Road in Mesa.  The suite in Broadway Plaza was leased to Barre Physique. The landlord, Gabriel G Saia, Jr. was represented by the SVN Phoenix office.

OFFICE – 8687 E VIA DE VENTURA, SCOTTSDALE 
Justin Horwitz and Jonathan Levy have leased 979-square-feet of space at Ventura Gateway to Florence Management, LLC. The office space is located at 8687 E Via De Ventura in Scottsdale. The landlord, Ventura Management, LLC, was represented by the SVN Phoenix office.

OFFICE – 2345 E THOMAS RD., PHOENIX
Nicole Ridberg has leased 859-square-feet of office space at Green Gables Office Complex to SP Jedi. The space is located at 2345 E Thomas Road in Phoenix. The landlord, GRA-D Corp, was represented by the Desert Commercial Advisors in the lease transaction.

OFFICE – 3303 E BASELINE RD., GILBERT
Jonathan Levy has leased 112-square-feet of office space at Executive Villas at Dana Point to Simpure. The office complex is located at 3303 E. Baseline Road in Gilbert. The landlord, Arizona Commercial Advisors, LLC, was represented by the SVN Phoenix office.

Phoenix, Arizona – The International Council of Shopping Centers, more notably recognized by its four letters, ICSC drew thousands of people to the 2017 RECon this year in Las Vegas, Nevada.  RECon is the world’s largest retail real estate convention with close to 37,000 attendees this year representing 58 countries.  This powerful real estate conference brings together industry professionals to network and make deals all over the world.

SVN Desert Commercial Advisors participates every year.  This year there were several advisors in attendance including Rommie Mojahed, Beau Flahart, Mary Nollenberger, Nicole Ridberg, Eddie Gonzalez, Christopher Leone, and SVN newcomer Julie Harris who just completed the MRED (Master of Real Estate Development) program at Arizona State University in Tempe, AZ.

The conference is set up to explore other opportunities with other CRE-related professionals. Additionally, the conference offers breakout sessions that are comprised of a variety of different education and certification sessions throughout the 3-day conference. SVN Director of Retail Leasing & Sales, Mary Nollenberger stated, “The retailer expansion plans within the restaurant and entertainment industries are staying strong.”  Nollenberger who was just recently acknowledged as one of the 2017’s Most Influential Women of Commercial Real Estate by AZRE Magazine.  Director of Retail Leasing & Sales Investment, Rommie Mojahed and Nollenberger have been an integral part of developments such as Chandler Crossings, Crismon Gateway Village, and Greenway Market Place, 8^th Ave Shops and Village Grove Plaza.  Advisors, Beau Flahart and Eddie Gonzalez were also a part of some of these retail developments above.

“Inland states like Arizona are becoming much more attractive and desirable to investors,” said Beau Flahart.  Flahart is most notable for his shopping center development deals in the East Valley believes the retail market has been on a steady pace and the opportunity for investors to come to Arizona to invest is worthy of their ROI.  Buyers are still looking for retail acquisitions and lenders are still willing to finance.  Mojahed said, “It was exciting to see all the new activity.” A leading topic throughout the conference was also how big box retailers compares to e-commerce.  “This year’s ICSC really showed how the retail market is evolving. Medical/Dental users are converting from a traditional office space to retail space,” said Mojahed.

In short, the retail market is still thriving, Arizona properties are still hot, and we can expect to see some repurposing and we can expect to see office space conversions into retail space.

Phoenix, Arizona – With 2016 coming to end, SVN Desert Commercial Advisors has always remained true to the mission of creating amazing value with their clients, colleagues and the community.   One of the most nationally recognized retail developments, Chandler Crossings was just named 2016 ‘Deal of the Year’.

Rommie Mojahed & Mary Nollenberger, the Directors of Sales & Leasing have also been recognized professionally for their unprecedented knowledge in the commercial real estate industry. Mojahed, named Tomorrow’s Leaders (Real Estate Forum-2014) and Nollenberger who received the honor as one of the Most Outstanding Women in Business with the Phoenix Business Journal earlier this year were both acknowledged last week for their instrumental role in the development of Chandler Crossings.

“Receiving the Outstanding Woman in Business was the most cherished and unexpected honors in my career,” said Nollenberger.  “I was absolutely humbled by the experience and by the opportunity to be recognized in the company of the amazing women with whom I shared the day.” The distant memory in 2014 was The Shoppes at Chandler Heights which was also acknowledged but not in a good way. It was named one of the biggest eyesores of Chandler by AZ Central.  Year after year, the advisors continued to believe in the potential of this development that was once a partially constructed abandoned building with mounds of dirt and tumbleweeds. However the vision from these two exceptional brokers is what dreams are made of.  The new owner renamed it to Chandler Crossings and the new Lifestyle & Entertainment Center in south Chandler went under development at the beginning of 2016.  Since then, over $24 million in lease deals are underway and almost 59,000 in square-footage have been leased.

Rommie Mojahed is currently working on a few more retail developments in Mesa with the same inspiration in mind.  “In the early discussions with the broker for Alamo Drafthouse, it appeared that Chandler Crossings was too far south,” said Mojahed.  While most people only see the dotted line that shows the deal is closed, there can be a very lengthy process in research and development during the deal-making process.  Mojahed continued to express, “After sending traffic studies, in depth demos, and other analytical details, we were able to get them committed to the site. We knew this tenant would help launch the site and we were very excited to get this signed.”

Among these end-of-the-year recognitions, several other advisors at Desert Commercial Advisors received other honors.  Office advisor, Paul Borgesen III and Justin Horwitz received the Centurion Award for their gross earnings this year. Borgesen III was also named into the “Ten-Million Dollar Club” for closing over $10 million in total deal volume.  Horwitz was a back to back recipient for closing over $10 million in 2015 and 2016. Multifamily advisors, Chip Kloppenburg and Carrick Sears also received the same honor. There most recognized deal was the sale of Amber Gardens to a Canadian investor for $17M.  Retail advisor, Beau Flahart received the Centurion Award and his back to back acknowledgement as an honorary member of the Ten-Million Dollar Club for his closed transactions in 2015 and 2016.  Flahart’s most notable deal this year was the sale of Village Grove for $7 million that he co-brokered with the Directors of Sales & Leasing.

The Deal of the Year advisors, Mojahed and Nollenberger were the first recipients to receive the Quarter Million Award for their gross earnings and closed over 36 deals totaling approximately $43 million in total deal volume in 2016.

In the end, SVN relies on building relationships with their clients, colleagues and the economic development across the valley. The former CEO of General Electric said it best. “Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.”

Congratulations SVN!