First new office product delivered in Deer Valley Airport Submarket in six years

PHOENIX, AZ – Phoenix-based GPE Commercial Advisors has been awarded the leasing assignment for The Mahoney Group Professional Building, a new Class A, 46,942-square-foot professional building that will be available to office and healthcare tenants. The development marks the first new multi-tenant office building delivered in the Deer Valley Airport submarket since 2009.

Located at 20333 N. 19th Ave., The Mahoney Group Professional Building sits at the northeast corner of 19th Avenue and Beardsley Avenue, just 1.5 miles east of I-17. The building can be seen directly to the north of the Loop 101 freeway.

Recognized as Arizona’s largest independent insurance agency, The Mahoney Group built the property as an owner/user and now occupies 15,000 square feet on the second floor, which it uses as one of eight Arizona locations. Across the Western U.S., The Mahoney Group operates 13 locations from Washington to Southern California, and employs more than 260 individuals managing programs including habitational, tribal, condominiums, mini storage and homeowners associations.

“After years of leasing across the street, we developed this property as a long-term strategic location that offered excellent visibility and branding for our northwest Phoenix office. We believe this area is growing and has a lot to offer any professional company,” said Glen Nelson, CEO of The Mahoney Professional Group. “We are extremely pleased to see our vision come to life and look forward to creating synergy in the building with other professional tenants looking for a new, Class A building with great parking and signage.”

Availability at the building includes 23,053 contiguous square feet on the first floor and 1,805 to 5,194 contiguous square feet on second floor. The project is being marketed to office and healthcare tenants. OrthoArizona signed a lease for 3,043 SF on the second floor in December 2015.

“The success of The Mahoney Group Professional Building demonstrates that spec construction in strategic locations has made a come back following the downturn.” said GPE Commercial Advisors Senior Vice President Alexandra Loye, who represents the project along with Senior Vice President Bret Isbell and Executive Vice President Julie A. Johnson, CCIM. “It’s an indicator that the market is recovering and there is demand for new construction to meet the needs of progressive tenants. We have had a tremendous amount of leasing activity. We are excited to welcome OrthoArizona to the building.”

Additional features of The Mahoney Group Professional Building include 14 foot ceiling height, four sides of glass, building signage that is visible from the Loop 101 and a comparatively high parking ratio of 6.2/1,000, to accommodate modern users looking to maximize the efficiency of their space.

“The Mahoney Group, as the developer, did an excellent job of constructing a project that offers unique modern style with an upgraded building exterior and common area interior finishes. They have truly differentiated themselves in the market,” said Loye.

For leasing information on The Mahoney Group Professional Building, contact Loye and her team at (480) 423-7922 or (480) 994-8155.

Phoenix, AZ – GPE Commercial Advisors secured the sale of a 4,257-square-foot medical office suite located at Street in Scottsdale, AZ. The property sold for $1,575,000 ($370 PSF) at a 6.85% CAP rate on current income. Charless E Wert, Successor Trustee of the Paul Edwin Wert and Maria Clarianna Wert, trustees of the Wert Family Trust closed escrow in a sale leaseback with a 1031 Exchange on the suite.

Vice President, Dominic M. Perry, CCIM, represented the Seller, BS Medical L.L.C. Paul R. Matusik of Prime Net Lease, Irvine, CA represented the Buyer, Charles E Wert.

GPE Commercial Advisors and GPE Management Services are among the oldest privately owned commercial real estate firms in Arizona. GPE Commercial Advisors is an award-winning team of experienced agents and staff who handle sales and leasing for professional office, medical office, retail, industrial and land properties. GPE Management Services provides licensed professionals, accountants, engineers and staff who keep buildings running smoothly.

Collectively, GPE Companies manages and represents over 9 million square feet of space, with clients ranging from individuals in search of space to publicly traded corporations. GPE has exceeded $2.25 billion in successful transactions. Currently members of many industry organizations including BOMA, NAIOP and Valley Partnership, GPE has been named a Top Leasing Firm by CoStar Power Broker Awards, recognized as one of the top firms by Ranking Arizona since 2008, and has been named one of the Valley’s “Best Places to Work” according to Phoenix Business Journal.

Chandler, AZ – GPE Commercial Advisors secured the sale of 5.21 acres of I-2 zoned industrial land and 25,234-square-feet of warehouse/office space in Chandler for $3.15 million ($125 PSF).

The property, located at 11237 E. Riggs Road, formerly the home of telecommunications contractor Stewart Electric & Communications, was purchased by CSW Land Co Riggs.  The transaction allows CSW Contractors, Inc. to relocate its shop and maintenance facility from Phoenix to a location that will facilitate its long-term growth strategy.

Gail Brown, JD, Associate Vice Present of GPE, represented the seller, Donna Jo Stewart, a pioneer in the wireless telecommunications industry, and John Werstler of CBRE represented the buyer.

“Donna built an extremely successful business as the female owner of a telecommunications company,” said Gail Brown.  “I have enormous respect for her and am honored to have gotten to know her during the transaction.  It was a joy to assist Donna in realizing her dream of retirement.”

For more information, Brown should be contacted at 480.423.7919.