PHOENIX, AZ – The 2016 commercial real estate industry in the Valley is showing signs of growth at midyear. But what lies ahead for the next six months in regards to job creation, vacancy rates and available capital?

These and other topics will be discussed at the “Midyear Market Update: Brokers’ Perspective,” presented by CoreNet Global Arizona, June 9, from 11:30 a.m. to 1 p.m. at Phoenix Country Club.

Leading the discussion will be Chris Toci, Executive Director in the Capital Markets Group at Cushman & Wakefield. Panelists include Tiffany Winne, Senior Vice President, Branch Manager, Savills Studley; Bob Mulhern, Senior Managing Director, Colliers International; and Dennis Desmond, Senior Managing Director, JLL.

Toci, who began his career as an investment broker in 1998, is a consistent top performer for Cushman & Wakefield. He has served as keynote speaker for CoreNet Global Arizona’s “Phoenix Rising” the past few years. He also offers market analysis and personal insights to industry publications such as AZRE magazine, Commercial Executive Magazine, and Western Real Estate Business.

As Senior VP in the Phoenix office of Savills Studley, Winne leads the day-to-day operations, recruitment, training and development, and research and marketing initiatives. Mulhern manages the brokerage operations of Colliers offices in Phoenix and Scottsdale with more than 100 professionals. Desmond has supervisory responsibility for JLL’s office and industrial agency brokerage and research capabilities in Arizona.

Registration begins at 11:30 a.m. followed by the presentation. Price is $35 for CoreNet Global Arizona members and $70 for non-members and includes the program, lunch, and networking.

To register go to arizona.corenetglobal.org and click on the Events tab. Clear Title of Arizona is the event and name tag sponsor.

 

PHOENIX, AZ – Bob Mulhern, Senior Managing Director at Collier’s International, was honored with the Award of Excellence at the 2015 Best of NAIOP last week at the Arizona Biltmore.

NAIOP member since 1994, Mulhern served on the Arizona Board of Directors for 14 years, including stints as president and chairman in 1996. He is currently chair of the education committee. In 1996, he moved NAIOP to a strategy of big events, beginning with a golf tournament that year. It has since grown to be one of the most sought-after tickets on the calendar.  

NAIOP Arizona’s Award of Excellence, formerly the Lifetime Achievement Award, is awarded by the Arizona Chapter Board of Directors on an annual basis at the Best of NAIOP event.  The criteria for the recipient is an individual who has made a significant, positive impact on the office and industrial commercial real estate market in Arizona over a period of no less than 15 years, as well as their direct volunteer contribution to the chapter.

As NAIOP Arizona celebrated its 30^th year, it was a big night for repeat winners. Ryan Companies US took home its fourth straight Best of NAIOP award for Firm of the Year and third straight award for General Contractor of the Year. Butler Design Group was named Architect of the Year for the fourth straight time and CBRE (Brokerage Firm of the Year) won for the second straight time.

In the brokerage awards, repeat winners were Pat Williams, JLL, Tenant Rep Broker of the Year; Kate Morris and Vince Femiano, CBRE, Healthcare Brokers of the Year; and Chris Toci, Cushman & Wakefield, Investment Broker of the Year.

Phoenix-based ViaWest Group took home two honors: Owner/Developer of the Year, and Transaction of the Year, Biltmore Financial Center. Talk of the Town Award went to Marina Heights, Building 500.

The event was sponsored by NAIOP Arizona. More than 950 commercial real estate professionals attended.

The 2015 Best of NAIOP winners:

Owner/Developer of the Year: ViaWest Group

NAIOP Firm of the Year: Ryan Companies US, Inc.

Architect of the Year: Butler Design Group

Interior Architect of the Year: RSP Architects

General Contractor of the Year: Ryan Companies US, Inc.

Tenant Improvement Contractor of the Year: Ryan Companies US, Inc.

Office Broker of the Year: Todd Noel, Keith Lambeth & Ryan Timpani, Colliers International

Industrial Broker of the Year: Pat Feeney, Dan Calihan & Rusty Kennedy, CBRE

Retail Broker of the Year: Joe Doucett, NGKF

Investment Broker of the Year: Chris Toci, Cushman & Wakefield

Healthcare Broker of the Year: Kate Morris & Vince Femiano, CBRE

Tenant Representative Broker of the Year: Pat Williams, JLL

Emerging Broker of the Year: Cooper Fratt, CBRE

Rookie Broker of the Year: Michael Strittmatter, CBRE

Industrial Build-to-Suit of the Year: Shutterfly at Discovery Business Campus

Industrial Tenant Improvement of the Year: Stone Creek Furniture

Office Build-to-Suit of the Year: DriveTime Corporate Headquarters, Liberty Center at Rio Salado and Marina Heights, Building 500

Office Tenant Improvement of the Year (75K SF or Less): Mobile Mini Headquarter & Call Center

Office Tenant Improvement of the Year (75K SF or More): Marina Heights, Building 500

LEED Certified Project of the Year: Liberty Center at Rio Salado

Medical Office Project of the Year: Friendship House at Royal Oaks Memory Care

Mixed-Use Project of the Year: Aspen Place

Retail Adaptive/Re-Use Project of the Year: The Yard at the Farmer Arts District

Redevelopment Project of the Year: The Scheduling Institute

Spec Industrial Project of the Year: 10 West Logistics Center

Spec Office Project of the Year: Hayden Ferry Lakeside III

Transaction of the Year: Biltmore Financial Center

Award of Excellence: Bob Mulhern, Colliers International

Brokerage House of the Year: CBRE

Developing Leader of the Year: Ashley Hoffman, Layton Construction

Principal Member of the Year: Rick Butler, Butler Design Group

Associate Member of the Year: Eric Wolfe, Chicago Title Agency

Talk of the Town: Marina Heights, Building 500

Sign Sponsor of the Year: Trademark Visual, Inc.

Cushman & Wakefield Negotiates Sale to California Investor

PHOENIX, AZ – Cushman & Wakefield, a global leader in commercial real estate services, announced today that Executive Director Chris Toci and Director Chad Littell negotiated the sale transaction of Paradise Valley Corporate Center for $37.4 million.

Team Toci of Cushman & Wakefield represented the Seller who sold the property to Buchanan Street Partners of Newport Beach, CA. No outside broker was involved.

Paradise Valley Corporate Center is a Class A office project in the Scottsdale/Paradise Valley area, located at 4835 E. Cactus Rd. “The property enjoys immediate access to approximately 2.3 million-square-feet of walkable amenities, convenient freeway access, an attractive Scottsdale address, and is surrounded by the highest demographics in metro Phoenix,” said Mr. Toci. The demographics in Scottsdale/Paradise Valley are the highest in metro Phoenix with average annual incomes of $109,000 in Scottsdale and $132,000 in Paradise Valley.

Built in 2002, the 4-story building contains 198,534 square feet of office space, featuring large, flexible floor plates, spacious lobbies, ample glass lines, and an onsite deli. “Paradise Valley Corporate Center is 94% leased to a diverse set of investment-grade and blue-chip tenants in the finance, insurance, real estate, and technology sectors,” added Mr. Littell.