Southern Arizona XXVI CCIM Market Forecast Competition promises to be as exciting an afternoon for real estate fans as Super Bowl LI for sports fans

TUCSON, Arizona — This year’s 26^th Annual Southern Arizona CCIM Forecast Competition will be sponsored by Platinum Sponsors, University of Arizona’s, Master of Real Estate Development (MRED) in conjunction with Larsen Baker, LLC. A unique partnership of exchange between the local Southern Arizona CCIM Chapter and the UA MRED program formed several years ago, with CCIM instructors participating in real-life applications with MRED students.

The Southern Arizona CCIM Forecast Competition is the longest-running event of its kind in the nation and is expected to draw 350 to 400 attendees this year. Craig Finfrock, CCIM, President Elect 2018 / Vice President is heading up this year’s competition, along with Melissa Lal, CCIM, President 2017, Suzie Ong, CCIM, Secretary, and Mark Hays, candidate CCIM.

This year’s inductee into the CCIM Tucson Legends will be Humberto Lopez, Co-founder and Chairman of the Board at HSL Properties. Over the past 40 years, HSL has become the largest multifamily property owner in the Southwest. The keynote speaker will be John Oliver, Director of Customer Services and Global Accounts, Surface Mining & Technology Division for Caterpillar, Inc. will speak about the Company’s decision-making to move its new regional headquarters to Tucson.

The XXVI Annual CCIM Forecast Panels will assemble and this year’s competition looks to be intense but fairly-matched. Last year’s champions will try to preserve their titles against new contestants who have been preparing all year for this competition, in hopes of ‘taking home the gold’ trophy.

Expecting to hear good news, here’s how the competition panels break out with 21 total panelists all confident they hold best home field advantage:

The 2016 Retail category Winner, Gary Heinfeld, CCIM, Principal of Advisors in Real Estate, Inc. will return to be matched against challengers, Melissa Lal, CCIM, of Larsen Baker, Michael Laatsch of CBRE and Andria Burke, MAI, Appraiser at Wells Fargo Bank, N.A. Heinfeld predicted a 6.37% retail vacancy rate while the actual rate came in at 6.40%.

Last year’s Office category Winner, Aubrey Finkelstein, Associate at Vast Real Estate Solutions will be up against competition from challengers, Dave Volk, Vice-President of CBRE, Tari Auletta, CCIM, Associate with Keller Williams Realty and Charles Singleton, MAI, at Singleton Valuations. Finkelstein predicted an 11.99% office vacancy while actual rate came in at 11.00%.

The 2016 Land category Winner, Aaron Mendenhall, Associate with Chapman Lindsey Commercial Real Estate, will face-off against challengers, John Carroll, Associate with Land Advisors Organization and Roy “Thrac” Paulette, Principal of Cantera Real Estate. Mendenhall predicted 2,949 residential permits for the year while actual number came in at 2,928 permits.

In the Multifamily category, the 2016 Winner, Lance Parsons, CCIM, Partner at ABI Multifamily will fend off Jason Hisey, Principal of The Hisey Group, and Allan Mendelsberg, Associate with Cushman & Wakefield | Picor. Parsons predicted 6.95% vacancy rate for the multifamily sector while the actual rate was 6.87%.

The 2016 Industrial category Winner, Russ Hall, SIOR, GSCS, Principal at Cushman & Wakefield | Picor will be opposing challengers Gary Emerson, Principal at GRE Partners, Dave Gallaher, CCIM, Principal of Tucson Industrial Realty and Beverly Weissenborn, MAI, Principal with Weissenborn Appraisal. Hall had predicted an industrial vacancy rate of 7.24% while actual vacancy rate was at 7.80%.

In the Finance category, last year’s Winner, Mike Trueba with Commerce Bank of Arizona will attempt to protect his title from challengers, Justin Martinez of the National Bank of Arizona, and Jim Hunter of BBVA Compass Bank. Trueba had predicted a 10-year Treasury bill rate of 2.62% at year end and the actual rate was 2.45%.

The XXVI Annual CCIM Market Forecast Competition promises to be as exciting an afternoon for real estate fans as the Super Bowl LI game will be for sports fans, without all the commercials.

If you haven’t reserved yet, there may still be time. Registration and networking begins at 11:15 am; Program starts at 12:00-4:30 pm followed by a networking cash bar reception from 4:30–5:30 pm. Tuesday, February 21^st at the Marriott Tucson University Park, 880 E 2nd Street Tucson AZ 85719. – LUNCH SERVED & FREE PARKING!

Printable Registration Form 2017 to register or contact Aaron Reid at 520.382.8791 or by email [email protected]

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from December 5 thru 9, 2016.

RETAIL – 5280 E. GRANT RD., TUCSON
Pyramid Federal Credit Union extended their ground lease with TMC Foundation for 40,000-square-feet located at 5280 E. Grant Rd. in Tucson.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, handled this transaction.

OFFICE – 380 E. FORT LOWELL RD., TUCSON
CODAC Health, Recovery & Wellness, Inc. leased 21,760-square-feet at 380 E. Fort Lowell Rd. in Tucson, from 380 Holdings, LLC.   The property will go through a complete remodel to accommodate their specific requirements, with expectations for a mid-2017 occupancy. Tom Nieman, Office Specialist, with Cushman & Wakefield | PICOR, represented the landlord and Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.

INDUSTRIAL – 7005 S. PLUMER AVE., TUCSON
Aerovation Inc. leased 13,000-square-feet at 7005 S. Plumer Avenue. Tim Healy, Bob DeLaney and Ian Stuart with CBRE represented the landlord. [mepr-show rules=”58038″]Tenant Phone: 520.308.6409[/mepr-show]

INDUSTRIAL – 1331 E. 16^th ST., TUCSON
Kelley Brothers, Inc. New York, leased 5,099-square-feet at 1331 East 16^th Street from HVAC Buildings, LLC., Preston Achilles. The term of Lease is for three years four months. Dean P. Cotlow with Cotlow Company, Broker/Owner represented the Tenant. [mepr-show rules=”58038″]Tenant Phone: 520.882.4436[/mepr-show]

RETAIL – 653 W. VALENCIA RD., TUCSON
Psychosomatic Fitness, LLC has leased 4,590-square-feet at 653 W. Valencia Rd., in the Mission Manor Shopping Center, for a 5 year term, from GS Property Investments, LLC.  Christopher Itule of Long Realty represented the Tenant and Robert J. Nolan and Cameron L. Casey of Oxford Realty Advisors represented the Landlord in the transaction. [mepr-show rules=”58038″]Asking lease rate: $10.50 SF/YR NNN; Tenant Phone: 520.877.3488[/mepr-show]

OFFICE – 1 S. CHURCH ST., TUCSON
Title Security of Arizona leased 4,207-square-feet of office space at 1 S. Church Avenue. David Montijo and Damian Wilkinson with CBRE represented the tenant. Zach Fenton with ZFI Holdings represented the landlord.

OFFICE – FOOTHILLS CORPORATE CENTER, TUCSON
Nova Financial Investment Corp. leased 3,973-square-feet of office space at Foothills Corporate Center. Dave Volk with CBRE represented the landlord, United Insurance Company. James Hardman with Desco Southwest represented the tenant.

INDUSTRIAL – 3500 S. DODGE BLVD., TUCSON
Crusher and Process Solutions leased 3,912-square-feet of warehouse space at 3500 S. Dodge Blvd. Tim Healy and Bob DeLaney with CBRE represented the landlord. [mepr-show rules=”58038″]Asking lease rate: $0.62. SF/MO Modified Gross[/mepr-show]

OFFICE – 1010 E. PALMDALE ST., TUCSON
BE Aerospace leased 3,520-square-foot office space at 1010 E. Palmdale. John Slattery with CBRE represented the tenant. The landlord was represented by Gary Emerson with GRE Partners Commercial Real Estate. [mepr-show rules=”58038″]Asking lease rate: $0.75 – $0.90 SF/MO Modified Gross[/mepr-show]

RETAIL – 337 W. MARIPOSE RD., NOGALES
Tucson Hispanic Chamber of Commerce leased 3,051-square-feet at 337 W. Mariposa Road in Nogales, Arizona. Pete Villaescusa and Jesse Peron with CBRE represented the landlord. [mepr-show rules=”58038″]Tenant Phone: 520.020.0005[/mepr-show]

INDUSTRIAL – 3700 E. 38^th ST., TUCSON
Jeff’s Automotive leased 2,880-square-feet at 3700 E. 38th Street. John Slattery with CBRE represented the tenant. Paul Hooker with Cushman Wakefield | PICOR represented the landlord. [mepr-show rules=”58038″]Tenant Phone: 520.623.2600[/mepr-show]

RETAIL – 52 W. CONGRESS ST., TUCSON
Pokezone Sushi leased 2,601-square-feet of retail space at 52 W. Congress Street. Michael Laatsch with CBRE represented the landlord. The tenant was represented by Jeramy Price with Volk Company.

RETAIL – NWC of IRVINGTON RD and I-19, TUCSON
Lipsey Communications, LLC (dba Sprint Store by Connectivity Source) has leased 2,000 square-feet of retail space at Fashion Park, located at the NWC of Irvington and I-19.  Michael Laatsch with CBRE represented the tenant. Alan Tanner and Brigham Stevens with Bourn Companies represented the landlord.

RETAIL – 6572 E. GRANT RD., TUCSON
Lipsey Communications, LLC. (dba Sprint Store by Connectivity Source) has leased 1,953-square-feet of retail space at 6572 E. Grant Road.  Michael Laatsch with CBRE represented the tenant. Alan Tanner and Brigham Stevens with Bourn Companies represented the landlord.

OFFICE – 6979 E. BROADWAY BLVD., TUCSON
Allegro School of Music has leased 1,750-square-feet at 6979 E. Broadway Blvd., Suite 119, for a 5 year term, from Maqsood & Sabina Enterprises, LLC.  Robert J. Nolan of Oxford Realty Advisors handled the transaction. [mepr-show rules=”58038″]Asking lease rate: $9.75 – $18.00 SF/YR Modified Gross; Tenant Phone: 520.670.9162[/mepr-show]

RETAIL – 446 N. CAMPBELL AVE., TUCSON
Southwest Salon (dba Toni & Guy) renewed their 1,612-square-foot lease at 446 N. Campbell Avenue. Michael Laatsch with CBRE represented the landlord. Michael Treadwell and Mary Boyd-Williams with Vintage Partners represented the tenant. [mepr-show rules=”58038″]Tenant Phone: 520.624.2722[/mepr-show]

RETAIL – 4540 E. BROADWAY BLVD.,
Hair Architects leased 1,512-square-feet of retail space on a pad at Midstar Plaza. Nancy McClure with CBRE represented the landlord. Hair Architects is an established hair salon located at Broadway & Craycroft and will relocate and open in the new location in January 2017. [mepr-show rules=”58038″]Tenant Phone: 520.305.4100[/mepr-show]

OFFICE – 4400 E. BROADWAY BLVD., TUCSON
I-Hope Medical Transportation Group, LLC, leased approximately 1,402-square-feet of office space located at 4400 E. Broadway Blvd., Suite 403, Tucson, Arizona, from 4400 Broadway, LLC.  Michael Gross of Tucson Realty & Trust Co. represented the Landlord in the transaction. [mepr-show rules=”58038″]Tenant Phone: 520.305.3042[/mepr-show]

RETAIL – SE CORNER of ORANGE GROVE RD. and RIVER RD., MARANA
Smoothie King has leased a 1,200-square-foot space at Marana Marketplace, located on the SE corner of Orange Grove Rd. and River Rd. in Marana. The Premises will be used for the retail sale of smoothies, juices, vegetable drinks, blended products and related products and services. They are scheduled to open for business in June 2017. Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Michael Laatsch, of CBRE, represented the Tenant.

RETAIL – SE CORNER of ORANGE GROVE RD. and RIVER RD., MARANA
Sports Clip has leased a 1,100-square-feet space at Marana Marketplace, located on the SE corner of Orange Grove Rd. and River Rd. in Marana. The Premises will be used as a hair salon and for the sale of related products and services. They are scheduled to open for business January 2018. Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Ben Craney, of NAI Horizon, represented the Tenant.

INDUSTRIAL – 2112 N. DRAGOON ST., TUCSON
Intelligent Solutions, LLC leased 1,000-square-feet at 2112 N. Dragoon St., Suite 16 in Tucson, from Rich Rodgers South, Inc.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the landlord and Eric Lichtenheld with Integra Group Real Estate, represented the tenant in this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.63 SF/MO Modified Gross; Tenant Phone: 520.622.1125[/mepr-show]

OFFICE – 100 N. STONE AVE., TUCSON
Vikram Badrinath PC leased 989-square-feet of office space at The Pioneer Building. Bruce Suppes and Dave Volk represented the landlord, Holualoa Pioneer, LLC. [mepr-show rules=”58038″]Asking lease rate: $17.00 SF/YR Full Service; Tenant Phone: 520.620.6000[/mepr-show]

RETAIL – SE CORNER of GRANT RD. and TUCSON BLVD., TUCSON
Paw Prints Pet Services has leased a 707-square foot space at Grant & Tucson Plaza, located on the SE corner of Grant Rd. and Tucson Blvd. The Premises will be used as a pet training facility and for the sale of related products and services. They are scheduled to open for business February 2017.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker. [mepr-show rules=”58038″]Tenant Phone: 520.571.7879[/mepr-show]

Submit sales and leases to [email protected]

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from November 28 December 2, 2016.

RETAIL- 6484 N ORACLE RD, TUCSON
Hobby Lobby will be leasing approximately 55,000-square-feet at Plaza Del Oro Shopping Center, 6484 N Oracle Road in Tucson from Plaza del Oro, LLC. The center is undergoing major renovations with CVS moving next door into the former Ace Hardware space. Ace has relocated into 7,776-square-feet at Plaza Escondida at Oracle and Magee. Pete Villaescusa and Jesse Peron with CBRE handled the transaction for Ace Hardware. Dave Leathers with D.E. Johnson & Associates, Inc and Nancy McClure with CBRE represented Hobby Lobby and Jim Horvath of Town West Realty represented the landlord. Hobby Lobby told us it plans on opening this second Tucson location in late 2017 or 2018. [mepr-show rules=”58038″]Asking lease rate $22-$24 /SF, NNN $4.75/ triple net charges.[/mepr-show]

INDUSTRIAL – 6985 N. CAMINO MARTIN, TUCSON
Artisan Roofing Systems leased 6,000-square-feet at 6985 N. Camino Martin in Tucson, from Walker Industrial II Properties, LLC.  Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.70 SF/MO Modified Gross; Tenant Phone: 520.880.3464[/mepr-show]

OFFICE – 5151 E. BROADWAY BLVD., TUCSON
AXA Equitable Life Insurance Company renewed their lease for 5,078-square-feet of office space at 5151 E. Broadway Blvd., Suite 1200 in Tucson, with KCI-Broadway, LLC, Scott Seldin-Broadway, LLC, Belmont-Broadway, LLC and Tucson 5151 Investments, LLC.  Tom Nieman and Rick Kleiner, MBA, Office Specialists with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $18.00 – $21.00 SF/YR Full Service; Tenant Phone: 520.325.3537[/mepr-show]

RETAIL – 1121 W. GRANT RD., TUCSON
San Plumbing Supply renewed their lease for 4,800-square-feet in Grant Interstate Commons, 1121 W. Grant Rd., Suites 401-404 in Tucson, from Sloat Family Partnership, LLP.  Steve Cohen and Russ Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.623.4369[/mepr-show]

OFFICE – 2015 W. RIVER RD., TUCSON
American Cancer Society, Inc. leased 3,930-square-feet of office space at 2015 W. River Rd., Suite 245 in Tucson, from Sundt Companies, Inc.  Isaac Figueroa, Office Specialist with Cushman & Wakefield | PICOR, represented the tenant and Rob Gillette with Gillette Commercial, Inc., represented the landlord in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.321.7989[/mepr-show]

RETAIL – 3821 W. COSTCO DR., TUCSON
Bay Shore Oil Company, Inc., leased 3,224-square-feet to Brett Interiors, Inc. at 3821 West Costco Drive, Suites 119, 120, and 121. The space is located within Costco Plaza, which is anchored by Costco, Home Depot, and Sportsman’s Warehouse. Dave Hammack of Volk Company represented the landlord.

RETAIL – 4507 E. 22^nd ST., TUCSON
JJ Elite Customs leased 2,800-square-feet at 4507 E. 22^nd St. in Tucson from RRN, Inc.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, handled this transaction.

RETAIL – 52 W. CONGRESS ST., TUCSON
K&M, LLC, dba PokeZone Sushi Restaurant, leased approximately 2,601-square-feet of space at 52 West Congress Street. Michael Laatsch of CBRE represented the landlord, BC Limited, LLC. Jeramy Price of Volk Company represented the tenant. [mepr-show rules=”58038″]Tenant Phone: $21.00 – $24.00 SF/YR NNN[/mepr-show]

OFFICE – 2806 N ALVERNON WAY, TUCSON
Tricar Sales, Inc. has leased 1,576-square-feet  at 2806 N. Alvernon Way, Suite 400, from Ventana-Encantada Ltd. Partnership.  Andrew D. Sternberg of Oxford Realty Advisors represented the Tenant and Diana Dessy of Anthem Equity Group represented the Landlord in the transaction. [mepr-show rules=”58038″]Tenant Phone: 520.281.5777[/mepr-show]

RETAIL – NE CORNER of FIRST AVE and WETMORE RD., TUCSON
Baja Fish has leased a 1,547-square-foot space at Tucson Place Shopping Center, located on the NE corner of First Ave. and Wetmore Rd. The Premises will be used as a Mexican seafood restaurant for dine in and carry out. They are scheduled to open for business June 2017.  Andy Seleznov, CCIM, and Melissa Lal, CCIM, represented the Landlord, Larsen Baker. Tenant Phone: 520.344.8333

OFFICE – 1701 W. ST. MARY’S RD., TUCSON
The Pascua Yaqui Tribe leased 1,425-square-feet of medical office space at 1701 W. St. Mary’s Rd., Suite 120 in Tucson, from HR Acquisition I Corporation.  Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Dave Blanchette and Ian Stuart with CBRE, Inc., represented the tenant. [mepr-show rules=”58038″]Asking Lease rate: $19.00 SF/YR Full Service; Tenant Phone: 520.520.5000[/mepr-show]

RETAIL – 2729 N. CAMPBELL AVE., TUCSON
Super Foot Spa & Beauty Salon leased 1,335-square-feet at 2729 N. Campbell Ave., near the intersection of Campbell Ave. and Glenn St. in Tucson, from Zeta Partnership.  Jeff Zellet, Commercial Specialist, with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $14.00 SF/YR NNN[/mepr-show]

RETAIL – SW CORNER of SPEEDWAY BLVD and CRAYCROFT RD., TUCSON
Tucson Youth Football & Spirit Federation, Inc. has leased 709-square-feet of space at Marana Marketplace, located just south of the SW corner of Speedway Blvd. and Craycroft Rd. The Premises will be used for general office purposes and for related products and services. They are scheduled to open for business December 2016.  Andy Seleznov, CCIM, and Melissa Lal, CCIM, represented the Landlord, Larsen Baker, while Greg Boccardo, CCIM, of Boccardo Realty, represented the Tenant. [mepr-show rules=”58038″]Tenant Phone: 520.322.9779[/mepr-show]

OFFICE – 6375 E. TANQUE VERDE RD., TUCSON
Allied Services, Inc. renewed their lease for 660-square-feet of office space at 6375 E. Tanque Verde Rd., Suite 120 in Tucson, from CSFB 2005-C3 Tanque Verde, LLC.  Rick Kleiner, MBA, and Isaac Figueroa, Office Specialists with Cushman & Wakefield | PICOR, handled this transaction.

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