Issue 1, 2022

COMM

IVE

IAL EXECUT ERC

FINAL ISSUEE

Globe Corporation George Getz and Mike Olsen’s vision for the West Valley

M AGAZI N

C E M -A Z .C O M • I S S U E 1 , 2 0 2 2

COMMITTED TO BUILDING COMMUNITY FOR A

BETTER TOMORROW

Together, with the Opus Foundation®, we are partnering with impactful organizations to create and strengthen opportunities for communities to thrive. In the past 12 months we have proudly supported the following local organizations: Arizona Helping Hands Banner Health Foundation Child Crisis Arizona Downtown Tempe Goodyear Pebblecreek Rotary Foundation Greater Phoenix Chamber Foundation Habitat for Humanity Central Arizona Mesa Arts Center Foundation New Pathways for Youth, Inc. Phoenix Children’s Hospital Rosie's House: A Music Academy for Children Society of St. Vincent de Paul

To learn more, contact: Larry Pobuda 602.648.5070 larry.pobuda@opus-group.com

DEVELOP DESIGN BUILD

A successful project begins with a dedicated and passionate team. We are proud to say we work with a talented group of contractors, engineers, architects, brokers and consultants. Our services include acquisition, development, asset management, design and construction oversight.

LAND OFFICE INDUSTRIAL M U LT I FA M I LY H O S P I TA L I T Y MIXED-USE R E TA I L

VA N T R U S T R E .C O M

IN THIS ISSUE

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CEM Memories Browse through a few pages of memories with Commercial Executive Magazine

16 Barry Gabel CEM celebrates Broker of the Decade winner Barry Gabel in a timeline feature

30 Setting the Curve Don’t miss this exclusive story on the record-breaking Grand Canyon University deal

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Arizona’s One-Two Punch Expert Larry Pobuda provides input on the two sectors dominating the Arizona market

10 Cover Story George Getz and Mike Olsen share Globe Corporation’s vision for the West Valley

24 Broker of the Decade Event Recap Check out photos from CEM’s Broker of the Decade event in December

34 Legends of Law CEM profiles Wendy Riddell, Ed Bull and Nick Wood in Legends of Law © MPmedia, LLC 2021

Letter From The Publisher

– unknown

A

s I sit down to write this, I must admit, it feels surreal.

I officially announced my retirement at the magazine’s Broker of the Decade event this past December, but now as my team and I release our final issue, it has all become real.

I started the magazine 15 years ago to bring the commercial real estate industry a publication that goes beyond the deals and buildings. I created it to reflect style and fun - something that our industry was lacking in a publication. I also brought the industry a Fall Forum, which has featured some of the most respected leaders in our industry and state. Fast forward 15 years and Commercial Executive Magazine has become a successful brand and something that has been hard to say goodbye to.

There are so many people who have helped me along the way and for that, I’m so grateful. From clients who have turned into friends, mentors and advertisers, I was so lucky to be surrounded by the best in the industry.

My sincere thank you to my team Karen Gallagher and Celina Busse for their passion and dedication to the business.

It is time to say goodbye to Commercial Executive Magazine.

I’m looking forward to spending more time with my kids as they enjoy their last few years at home before launching. I plan to continue my fundraising efforts for various nonprofits in the Valley and spend some more time on the course, improving my golf game.

Please enjoy the final issue of CEM and for a trip down memory lane, see page 10.

Thank you,

Mandy Purcell

Founder & Publisher Commercial Executive Magazine

© MPmedia, LLC 2021

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Team Karen Gallagher

Celina Busse

karen@mpmediaaz.com

celina@mpmediaaz.com

Managing Director

Karen coordinates the many moving parts of Commercial Executive Magazine. Specializing in strategic planning, she ensures CEM’s readers and advertisers are happy. Contact Karen for information on advertising and general inquiries.

Editor-in-Chief

Celina keeps our readers up to date on the latest and greatest commercial real estate news in the Valley. She organizes and coordinates each editorial piece to perfection. Contact Celina for questions regarding editorial, copyright or purchasing commemorative plaques and PDFs.

FOUNDER & PUBLISHER Mandy Purcell, mandy@mpmediaaz.com MANAGING DIRECTOR Karen Gallagher, karen@mpmediaaz.com EDITOR-IN-CHIEF Celina Busse, celina@mpmediaaz.com SALES Karen Gallagher EDITORIAL Celina Busse, Tim Randall GRAPHIC DESIGN Lalo Reyes PHOTOGRAPHY Carl Schultz

All rights reserved. No part of this publication can be reprinted or reproduced without publisher’s permission. Opinions expressed are those of the authors or persons quoted and not necessarily those of CEM. 2920 East Camelback Road, #228 • Phoenix, AZ 85016 • 602-955-2899 • www.cem-az.com

Thank you for your talent, hard work and attention to detail.

Lalo Reyes Graphic Designer Tim Randall Writer Carl Schultz Photographer Ralph Zubiate Copy Editor

It’s been a pleasure working with you.

—Mandy, Karen and Celina

Thank you to our readers, clients, advertisers, supporters and friends

—The CEM Team

Celina

Mandy

Karen

ARIZONA'S ONE-TWO PUNCH

Park, Goodyear Airport Industrial and Union Tempe mixed-use multifamily and retail complex in Tempe. “Union Tempe is a high profile project for sure,” he says. “And this year we delivered Goodyear Airport 85 spec industrial in Goodyear, and will have 335 multifamily units at Mesa Arts District Lofts arriving in 2023.”

Larry Pobuda, executive vice president & general manager, Opus Development Company, L.L.C, is in year seven at the firm, and three in his current role. The distinguished industry veteran, who was tasked to revive the Opus Brand in Greater Phoenix, is as bullish as ever on the metro’s economic prospects. “We essentially have

MARKET SEGMENTS

a one-two punch in Phoenix right now with tremendous business user growth, as well as strong, sustained population growth,” he says. “This combined in-migration – business and people – is the primary accelerant in helping to explain why few areas of the country can match Phoenix when it comes to our industrial and multifamily markets. The result is that these

Larry Pobuda Executive Vice President & General Manager, Opus Development Company

segments are on fire.”

STARTING POINTS

Under the umbrella of the Opus Group, Pobuda is charged with oversight and development of the Western region, which includes Phoenix, Austin and Denver. “These are three vibrant markets, and all have their distinctive strengths. That said, Greater Phoenix is such a dynamic region with our cost of

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Union Tempe

living, weather, and overall quality of life making the metro a fantastic destination,” he notes.

PORTFOLIO

During his tenure, Pobuda has built an impressive portfolio of projects, including Paradise at 83 multifamily in Peoria, Goodyear Crossing Industrial

Industrial and multifamily are dominating the attention of Pobuda and team. In the West Valley, distribution and logistics are the primary drivers of the industrial narrative; however, there are other facets as well. “It is especially exciting to see the region emerging as the home of the semiconductor manufacturing industry in the United States,” he says. “Anchored by Intel in the Southeast Valley and soon, Taiwanese Semiconductor Manufacturing Company in Deer Valley, this industry is serving to elevate Arizona’s game on a national level.”

As for multifamily, the narrative is centered on population growth and demand for housing. According to the latest U.S. Census figures, Phoenix was the fastest growing large city in the U.S., and Maricopa County © MPmedia, LLC 2021

"FEW METROPOLITAN AREAS HAVE THE NET IN-MIGRATION OF PEOPLE THAT PHOENIX CONTINUES TO EXPERIENCE." —LARRY POBUDA EXECUTIVE VICE PRESIDENT & GENERAL MANAGER, OPUS DEVELOPMENT COMPANY

Andersen Windows

expanded at the quickest pace nationally. “Few metropolitan areas have the net in-migration of people that Phoenix continues to experience,” he says.

The numbers validate the point as the Phoenix Metro will attain, by year-end, one of the country’s 10 lowest vacancy rates at 3.1%, absorption of over 12,000 units and a robust pipeline of 30,000 units by 2023, according to Marcus & Millichap.

SOLUTIONS

Pobuda continues to position Opus favorably in the marketplace with premier development options in both market segments. “We are responding with a strategy focused on meeting the industrial demands with a range of products from big box distribution centers to mid-bay product designed to meet last mile user needs. We have also been active in the manufacturing space with customized solutions for users that are bringing state-of-the-art manufacturing to the Phoenix area,” he says. “Similarly, we are serving the multifamily markets with diversity of product, too, including Urban Tempe high-rise to garden-styled Paradise at 83. Each of these products represent best-in-class amenities and location and provide today’s renter high-quality options.”

Paradise at P83

FUTURE

Pobuda has certainly returned Opus to the commercial real estate primetime in Greater Phoenix. “Opus is an iconic brand, and I am proud of the work we have done over the past seven years, and look forward to accomplishing more,” he says. © MPmedia, LLC 2021

Mesa Longbow Gateway

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© MPmedia, LLC 2021

“Mandy is the epitome of inspiration, both in her industry and in our community. Her innovation, creativity and demanding persistence has made her publication the 'go to' for real estate industry leadership.

Mandy has an ability to make the publication and events fun, exciting, informative and competitive. Congratulations on her retirement and devotion to our community and her friendships.”

— Sharon Harper, President and CEO, Plaza Companies

© MPmedia, LLC 2021

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Tempe Spotlight

Tempe Spotlight

“Mandy, I sure will miss the magazine, the great articles and features on the commercial real estate activity in Arizona. Most importantly, will miss seeing you, Karen, and your team at the events you put on.

Wish you the best.”

—Howard Grace, President, W. M. Grace Companies

Multiuse Tempe has several major multiuse projects currently in development, including Marina Heights and a third tower at Hayden Ferry Lakeside adjacent to Tempe Town Lake and Liberty Center at Rio Salado. || “To date, we have had $1.4 billion invested in and around the lake,” says Mitchell. || The Marina Heights project, which already secured State Farm as tenant, accounts for a bulk of that investment. || The design of Marina Heights takes its inspiration from the Salt River and the watershed, says Mike Davis, whose firm DAVIS designed the building. “We designed the complex around a plaza that takes its cue from the way the water starts up in the mountains and then runs down to provide for agriculture and other things that helped the city develop,” he says. || DAVIS designed the building with light colored, reflective glass that will pick up the colors of the sky and fit well into the environment of the area. || Each project represents a facet of the city’s vision for development within its boundaries. Included in this vision is a heavy focus occupancy, says Parkway Properties Vice President and Managing Director on the creation of state-of-the-art multiuse properties Matthew Mooney. || Mooney attributes this success to Parkway’s proactive that can attract local and national businesses to the city. In order to realize that vision, the city has worked management of the property and Tempe’s status as a go-to locale for businesses. collaboratively with brokers, developers and other “ We feel like there is somewhat of a shift happening,” Mooney says. “If you partners. || “We are honored to be affiliated with the look at the recovery that’s happened here, the numbers are in Tempe’s favor.” || Just as ambitious is Liberty Property Trust’s Liberty Center at Rio Salado, which developers who create job opportunities and change will offer a sustainable, mixed use property on over 100 acres with business, the face of our community through innovation,” says industrial, retail, restaurant and hotel space. The sizable site is being developed, Cheri Brady, Vice President National and Commercial in part, to meet the City of Tempe’s stated need for mixed use space. The demand Sales for First American Title Insurance Company, is there and Liberty Property Trust has developed the site with the needs of the who provided many of the title products and escrow city in mind, according to John DiVall, senior vice president and city manager services for many of the new projects in Tempe. || Hayden Ferry Lakeside, which currently features two for Liberty Property Trust’s Arizona region. || Mitchell and the City Council completed phases with a third under construction, is have worked with brokers, land developers and businesses to make Tempe an operating at nearly max capacity, making the lakefront attractive site for economic growth, and the Mayor points to these public-private in Tempe one of the hottest destinations for business. partnerships as a key factor in promoting that growth. “Whatever the market Parkway Properties acquired Hayden Ferry I and II last bears, we are going to figure out how we can work with that,” he says. “Because year. || In the seven months following the acquisitions, at the end of the day, it doesn’t do the city any good if those projects aren’t Parkway nearly doubled the occupancy in Hayden successful. So it’s in everybody’s best interest for us to work together, because Ferry I and brought Hayden Ferry II to 100 percent our community will benefit from that.”

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commercial executive magazine

© Copyright 2013 by MP Media, LLC

Caption here to id eaCh person please froM left to right thanks

tourisM

$1.4 billion

To daTe, $1.4 billion has Just down the road from the lake, another aspect of Tempe’s vibrant economy is spurring real been invesTed in and estate growth through public-private partnership. With its sunny weather and central location, around Tempe Town lake.

Tempe has a chance to further solidify its stance as a prime tourism destination in the Valley. In order to capitalize on this, city leaders have long sought to develop a conference center and attract a top-tier hotel to the downtown area, according to Mitchell. That vision is now coming to fruition with USA Place. || Mitchell has a tourism background, having worked in the industry after college, and understands what the industry can mean to a community. “I’m a big believer in tourism,” he says. “The number one industry in our state is technology and the second is tourism.” || But the site will function as much more than a conference center and hotel. USA Place will also serve as the national headquarters for USA Basketball, complete with a 4,500 seat arena. || USA Place fits in to a larger vision for the future of Tempe, says Mitchell. By drawing in more out of state visitors through the conference center, hotel and basketball center, Tempe is giving itself a chance to attract more businesses to the city by showing off what a great locale it is. || Mitchell points to opportunities for collaboration between the forthcoming conference center and the different colleges at ASU and how that can positively affect the city. “Imagine if there is a conference center and someone from the Biodesign Institute comes for a 1,000 person conference, and we do a quick tour of downtown to show what we have to offer,” he says. “They see that they can open up a regional division for western states in Tempe and that its easy access to fly here because our proximity to the airport is phenomenal.” || To support his claims, Mitchell points to the positive effect the Fiesta Bowl has had on Tempe in the past. He recalls a game in the 1980s when officials from Chase made the trip to watch the game. The City of Tempe and DMB Associates used the opportunity to show Tempe off to Chase leadership and eventually convinced the company to move into the Centerpoint building on Mill Avenue. The partnership worked out well for the city, bringing about 2,600 jobs and the largest credit processing center west of the Mississippi River, says Mitchell. || “Centerpoint on Mill was originally conceived and master planned by DMB in a unique public-private partnership that spanned 28 years and was the impetus for redevelopment of the Mill Avenue District and downtown Tempe,” says Michael Burke, DMB’s Vice President of Development.

“DMB’s flexible entitlements and its strong partnership with the City of Tempe allowed Centerpoint on Mill to be responsive to changes in the market and to meet the needs of its retailers and customers.”

© Copyright 2013 by MP Media, LLC

commercial executive magazine

“My favorite shoot over the years was at Hanger One with my very talented women colleagues - all was going well until Mandy told me I had to sit on the wing of Bennett's plane in the freezing cold!”

—Karrin Taylor Robson, Founder and President, Arizona Strategies

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“There have been so many hilarious moments along the way - the big chess piece photo at Biltmore, the Women in Power shoot with red evening gowns, hiking in the hot desert with bottles of water for the families in CRE photoshoot.

Mandy has not been short of creative ideas and yes, we will all do what she asks without question - sign of true leader!"

—Cindy Cooke, Senior Executive Vice President, Colliers

Hines is Raising the Bar Industry Leaders Provide Sector Updates for 2020 C E M -A Z .C O M • I S S U E 5, 2 02 0

© MPmedia, LLC 2021

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“Congratulations on your retirement. Your contribution to the real estate industry will not be matched.

Looking forward to hearing all your golf stories.”

—Jeff Manelis, President, Pederson Group

BROKER TEAM of the MONTH Ashley Brooks & Jim Bayless CEM-AZ.COM • I S S U E 5, 2016

“Mandy is an amazing person and a true professional. It’s been an honor and privilege to partake in her Forums over the years together with the distinguished guests that Mandy always manages to surround herself with. I wish you all the best in retirement and in whatever you are doing next.” ­­­—Erik Olsson, Chairman, WillScot Mobile Mini, Inc.

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© MPmedia, LLC 2021

“I always looked forward to reading CEM. It was informative, interesting and allowed me to get to know the major players in the commercial real estate industry.”

—Humberto S. Lopez, HSL Properties Inc., Chairman

“Mandy your involvement in the real estate industry through your publishing business has been an inspiration to many. I join all others in saying that what you have built has earned you a well-deserved retirement. Enjoy!”

—Mike Watts, President, CEO-Owner, Watts Investments/ Castle Hot Springs Resort

“Mandy - you’re an icon- and a great ambassador for women! You demonstrated to both men and women how to be fearless and live their dreams! More importantly you showed both sexes you could be a beautiful, brilliant woman and thrive in the business world designed only for the success of men!! You crushed it!”

WEST SIDE STORY THE IMPACT OF THE WEST VALLEY EXPANSION JOHN GRAHAM & KEVIN CZERWINSKI PV|303

—Laura Amada, President, Chicago Title Agency

EXECUTIVE PROFILE

Everest Holdings’ Joe Blackbourn

© MPmedia, LLC 2021

COMPANY PROFILE Stockbridge Capital Partners

CEM-AZ.COM • ISSUE 2, 2015

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Globe Corporation George Getz and Mike Olsen’s Vision for the West Valley 16

© MPmedia, LLC 2021

George Getz, director, president and co-CEO, and his brother Bert Getz Jr., director, and co-CEO, are responsible for advancing the impressive legacy of the Globe Corporation, which dates back 120 years. “My great grandfather George Fulmer Getz started the company in 1901 in Chicago,” says George Getz. “Bert and I represent the fourth generation in the business, and we are grooming the fifth generation to assume control in the coming years.”

Starting Points

Mike Olsen and George Getz in front of the Getz family's collection of vinatge cars.

© MPmedia, LLC 2021

Globe’s history is defined by its range of businesses and an ongoing commitment to evolving as economic trends dictate. “We have been successful in a number of industries, over the decades, including coal, manufacturing, cattle and banking” says George. “Now, we operate as a diversified investment company with core verticals in real estate, asset management and private equity.”

Helping to guide the company’s growth strategy is Mike Olsen, CFO, treasurer and corporate secretary.

“I joined the company in 2001, the 100-year anniversary of Globe Corp.’s charter in Chicago. It has been an amazing journey working with George here in the Phoenix metro area and his brother in Chicago,” he says. “The Getz family has been incredible to work with, and I could not be prouder to have been able to assist George and Bert Jr. in growing Globe Corporation over the past 20 years.”

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“There are incredible possibilities ahead; the center of Goodyear is just getting started.”

—George Getz

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© MPmedia, LLC 2021

Background

Getz and Olsen first connected at The Arizona Bank, which Globe Corporation had purchased in the 1970s. “I started with the bank in their credit department, fresh after graduating from Arizona State University in 1984. My role was analyzing financial statements and teaching the institution’s credit policy to new lenders joining the bank,” he says. “I came to the bank in September of 1984 after graduating from the University of Southern California,” says Getz. “My father then asked me to join the family business after working for The Arizona Bank for two years, but Mike and I stayed in contact.”

The connection proved valuable for both men, because in 2001, Getz reached out to Olsen, who had since left the bank, to gauge interest in the open CFO spot at Globe. “He asked me to interview for the position, and the © MPmedia, LLC 2021

The company's new flagship property, Goodyear Civic Square (GSQ), will be completed this year.

rest is history. The journey has been very exciting and rewarding,” he says.

Arizona

While Globe originated in Chicago, the Grand Canyon State has always been a part of the DNA of the company. “My grandfather initiated our move into Arizona assets in 1947 by purchasing

a 45,000-acre ranch on Hualapai Mountain Range to run cattle,” Getz says. “Despite spending quite a bit of time on the ranch, our family did not relocate here until the 1970s with the purchase of the bank, but through the years our family’s presence has grown in Arizona, including of course, our corporate headquarters and the

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“Our strength comes from the diversity of our assets and business lines.”

—Mike Olsen

George Getz and Mike Olsen

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© MPmedia, LLC 2021

turning into an important and significant assemblage of vintage cars,” Getz says. “The best and most sought-after properties will always have a market, the same goes for vintage automobiles. While we are unsure how many more cars will be added, a goal of only finding truly important cars is the primary focus.”

Transformational

Bert Getz Jr.

and family subsidiaries based in Scottsdale.”

The company’s portfolio of properties is robust with 3 million square feet across their geographic footprint in Arizona, Colorado, Illinois, and Hawaii. In Arizona, the firm owns eight properties including multifamily, hospitality, industrial and Class A office. In addition to the property assets, Globe also operates development and property management platforms. “Our strength comes from the diversity of our assets and business lines,” Olsen says.

Composition

Property represents one segment of Globe’s holdings with classic cars and Western art being other areas of the family’s personal interests. “My great grandfather was always a lover of Western art. In Globe’s collection, there are many of the Cowboy Artists of America and the Taos Society of Artists. It is a broad-based collection that is displayed in our Scottsdale office,” he says. “At its peak, the paintings numbered over 300, but now we retain 50 of the most valuable pieces.”

On the automotive front, the Getz brothers began purchasing classic vintage cars in 1998. While not interested in collecting as many cars as possible, the interest is in collecting significant cars in automotive history.

Current inventory is around 20 cars.

Over time, the pair added a variety of vehicles by following a similar approach to the accumulation of their commercial real estate portfolio. “The goal and reason for these purchases is asset appreciation. The collection is © MPmedia, LLC 2021

To build and maintain a world-class company for well over a century, Getz family leadership and their team members have demonstrated an ability to find and develop value and spot emerging trends. This is certainly the case with the company’s new flagship property, Goodyear Civic Square (GSQ). “The development, when completed in 2022, will be the center focal point for the city of Goodyear,” says Olsen. “GSQ will be the envy of

data centers, a commercial-grade airport, a world-renowned Air Force base, Major League Baseball spring training facilities, and miles of walking and riding paths, GSQ will only add to this great up and coming community,” says Getz.

Globe and Goodyear have been associated for over 50 years, which makes this development extra special for Getz. “Our family has owned this GSQ land and much of the surrounding property (originally 610 acres) since 1970 when it was just a nice section of farmland in the middle of the Goodyear Tire and Rubber farm properties,” he says. “There are incredible possibilities ahead; the center of Goodyear is just getting started.”

Fifth Generation

The Getz brothers and Globe team are already envisioning the future

“The best and most sought-after properties will always have a market, the same goes for vintage automobiles. While we are unsure how many more cars will be added, a goal of only finding truly important cars is the primary focus.”

—George Getz

every city with a brand new 125,000 city hall, two-acre fully amenitiesed civic park, 104,000 square foot Class A spec office building and the first parking structure in the city, with four stories and 912 spaces” Getz says.

Getz and Olsen are extremely bullish on Goodyear and its prospects for the future, particularly, because 2020 U.S. Census data indicates that Goodyear is one of the top 10 fastest growing cities in the nation. “With all of the great things that Goodyear currently offers like affordable housing all the way up to executive housing and private golf courses, world-class industrial buildings, state-of-the-art

of the company. “A lot of what we are planning for now is what Globe Corporation will look like in the next 10 to 15 years, and how it should be structured to support the seven Getz family members in Generation 5,” says Olsen. “Bert Jr. and I are the stewards of the family assets for the next and subsequent generations,” Getz says.

Future

Globe Corporation is one of Arizona’s most durable and financially strong companies. “I know that my great grandfather would be proud of his descendants carrying on the legacy he began in 1901,” says Getz.

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CONTACTS: Ashley Brooks

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+1 602 735 1758 Ashley.brooks@cbre.com

+1 602 735 1742 Corey.hawley@cbre.com

+1 602 735 5615 Sean.spellman@cbre.com

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© 2021 CBRE, Inc. All rights reserved. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE.

B A R R Y G A B E L Winner of Commercial Executive Magazine's Broker of the Decade Award If there was a Grand Canyon State Commercial Real Estate Hall of Fame, Barry Gabel, executive vice president, CBRE Institutional Properties, would be a firstballot inductee. He’s the seven-time winner of NAIOP Investment Broker of the Year, six-time winner of Commercial Executive Magazine’s Broker of the Year, and in 2021, Commercial Executive Magazine’s Broker of the Decade. “I am honored to have been awarded these accolades but am most proud to have earned the CBRE RISE credential,” he says. “I hope my team and clients believe I have displayed the traits of Respect, Integrity, Service and Excellence in my career.”

Starting Points The numbers speak to Gabel’s amazing record over a storied career approaching 40 years: 37 million square feet of office and industrial properties transacted with a $7.3 billion price tag. “I would not have accomplished these results without the incredible efforts of my team,” he says. “Through the years, I have been blessed to work with remarkable professionals and our current team of all-stars including Chris Marchildon, Jamie Altholz, Ada Rose Mancusi, Ryan Reading and Amy Alschlager − simply the best in the business.”

Background Just days after graduating from the University of Arizona, Gabel landed his first position in the industry with Lincor Properties and subsequently Prime West. From there, Gabel spent five years at The Sammis Company before returning to Prime West. “Trammell Crow then acquired Prime West and then CBRE acquired Trammell Crow,” he says. “So really when you think about it, I have spent 37 years with two firms.”

“Barry is an absolute super human being. I wish there were more people like him, professionally and personally.”

—Ted Zinman, President, Merit Properties

1993

Barry and his brother, Warner.

1984

Graduated college from the University of Arizona and started first job with Lincor Properties

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Barry went back to working at Prime West (formerly Lincor Properties)

1988

Barry began working at Sammis Company

1994

Prime West acquired by Trammell Crow Company © MPmedia, LLC 2021

Left to Right: Chris Marchildon, Amy Alschlager, Barry Gabel, Jamie Altholz, Ada Rose Mancusi, Ryan Reading.

Chemistry While the transaction record speaks for itself, what has defined Gabel’s career is the bond that he has created with his team members, clients and peers. “Barry wants us to not only succeed but thrive,” says Marchildon, first vice president. “He goes out of his way to make sure people feel taken care of and are secure.”

One example in particular stands out for Marchildon.

“Barry helped me get started in the business. One day, he took me to Brother’s Tailors & Clothing Co. and set me up with suits, shirts and ties,” he says. “He wanted me to look like a CRE professional, which instilled a great deal of confidence. That is quintessential Barry. He is always looking out for others.”

“I’m happy that Barry feels that I’ve been a positive influence and mentor in his life. We all need a little help along the way, especially in the beginning of a new career. The life of a real estate broker is not an easy one, but the rewards can be great. He has certainly exceeded all CRE broker accomplishments I ever thought possible and done it all on his own with integrity. Congratulations Barry on receiving the exceptional Broker of the Decade award and for your dedication to your family, clients and your CBRE team. Happy soon to be 60th Birthday too!”

Service Part of the success of the Gabel Team emanates from the longevity of the crew. Marchildon (12 years), Altholz, (8 years), Ada Rose Mancusi (6 years), Reading (4 years) and Alschlager (17 years). “We are a family and Barry promotes a close and tight-knit culture,” says Alschlager. “There is a deep connection between us, and we support each other.”

Book of Barry Through the years, clients and team members have benefitted from Gabel’s nuggets of wisdom, which are now in a book: “Gabel’s Phrases.” “My team presented me with the book several years back, and it was such a thoughtful gesture,” he says. “There

—Warner Gabel, President, Gabel Investments

2004

Amy Alschlager joins Barry’s team

2003 NAIOP Investment Broker of the Year

© MPmedia, LLC 2021

2008

2010

Chris Marchildon joins Barry’s team; Barry wins NAIOP Investment Broker of the Year

2006

Trammell Crow Company acquired

by CBRE

NAIOP Investment Broker of the Year; Barry Wins CEM’s Broker of the Year Award

2009

NAIOP Investment Broker of the Year

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“We hired Barry right out of college for his energy and enthusiasm.

I can’t remember one time where he didn’t perform above our expectations. He was creative, a self-starter and picked up the business so well. I can’t think of any weaknesses in Barry. After 3 years, we were sad to see him leave, but he was ready to go out on his own.”

—David Heiple, President, Heiple Travers Left to right: Chris Marchildon, Babbi Gabel, Barry Gabel, Katie Gabel, Collin Gabel, Ryan Reading.

are so many, but two of my favorites are ‘Little things make the biggest difference’ and ‘I am not asking for your opinion, I am asking for your recommendation’” says Marchildon.

Gabel reflects on the story behind that pithy statement.

“Thirty years back, I was leasing a high-rise on Central Avenue and was discussing capital improvements with the owner. I laid out a laundry list and he said ‘Mr. Gabel, I am not asking for your opinion, I am asking for your recommendation.’ To which I replied, ‘I am not sure of the difference,’” he says. “The owner then responded, ‘Mr. Gabel, an opinion is what you think, a recommendation is what you want me to think.’ That stuck with me throughout my career. In the end, I recommended he do all of the improvements, and he agreed.”

Inspiration In a career filled with a robust roster of

2011

Barry Wins CEM’s Broker of the Year Award

2012

Jamie Altholz joins Barry’s team; Barry Wins CEM’s Broker of the Year Award

Barry Wins CEM’s Broker of the Year Award

26

2013

impressive achievements, Gabel is quick to cite the individuals who provided their knowledge and expertise during his career journey. “My brother Warner encouraged me to get into CRE, as he was already working in the industry,” he says. “And then I think of Jim Mahoney who hired me fresh out of college and mentored me. Dave Heiple and Ted Zinman had profound impacts on me, as did Brett Marsh who helped me transition from leasing to sales and gave me my first shot at selling an office building.”

Highlights After each deal is completed, the Gabel Team takes time to celebrate the win and show appreciation for everyone

2015

Barry Wins CEM’s Broker of the Year Award

2016

Ada Rose Mancusi joins Barry’s team; Barry Wins CEM’s Broker of the Year Award

© MPmedia, LLC 2021

“Barry and I go back nearly 30 years and he is not your typical broker. He is down to earth, sincere and tells you how it is.”

—Brett Marsh, Former Vice President, Citadel Realty

Barry Gabel and Mandy Purcell at CEM's Broker of the Decade event.

who was involved. “I love every single deal and think it is important to acknowledge the accomplishment,” he says.

“We often have a dinner or outing where we invite all of the participants who made it possible,” says Alschlager. “In every case, Barry takes the opportunity to single out each person’s role and their contribution to the fruition of the project. It is just another example of Barry’s personality of giving.”

Family There is no doubt Gabel has achieved profound success in commercial real estate, however his greatest accomplishment is his family life. “My wife Babbi, and our children, Katie and Collin inspire me to be the best person I can be every day,” says Gabel. “I’m blessed to have their love and support.”

Future The Gabel Team is excited about the prospects for CRE in 2022. “We believe this will be another great year, and our goal as always is to work in the best interest of our clients, continue to perform at the highest level, and always seek to improve,” he says.

“As I reflect over my 40+ years in the business, some of my best memories involve Barry Gabel.

Sure, I was there at the start of his career to help get him headed in the right direction. (I can’t take credit for being the guy who suggested that the 25-year-old Barry grow a mustache to make him look older in business meetings). But what distinguishes Barry is the way he brightens the room with his energy, sense of humor, passion for the business and compassion for others, the way he encourages those around him, whether family, friends or business associates to be their better self.

Barry is a consummate professional in the way he goes about his business, but those personal traits are what make him so special and a joy to work with or just simply be around.”

—Jim Mahoney, Principal, Trammell Crow Company

Barry, Amy, Chris s and Jamie at CEM' m. ru Fo ll Fa

2018

Ryan Reading joins Barry's team; Barry wins NAIOP Investment Broker of the Year © MPmedia, LLC 2021

2019

2022

Received CBRE’s “Rise” award for demonstrating the company values of Respect, Integrity, Service & Excellence; Barry wins NAIOP Investment Broker of the Year

Barry has been married to the love of his life, Babbi, for 33 years and together they have two amazing children, Katie and Collin.

2021

Barry Wins CEM’s Broker of the Decade Award

27

commercial Multifaceted in All Aspects of

Real Estate Development Family owned and operated since 1966

RETAIL

OUR EXPERIENCE

250 PROJECTS COMPLETED

INDUSTRIAL

$2.58 BILLION

PROPERTY VALUES

40 MILLION

SQ FT DEVELOPED

55+ Years

IN BUSINESS

DEVELOPMENT

A Message From

W.M. Grace Companies wants to thank Mandy Purcell & Commercial Executive Magazine for your unwavering support and contribution to growing our industry.

“

MULTI-FAMILY

“

W.M. Grace Companies

Conta c t us for m ore information WMGraceCo.com | 602.956.58254 | info@wmgraceco.com

6 92 5 E In d i an S ch ool R d ., S cott s d al e , A ri zo n a 8 52 5 1

Thank you

The Gabel Team is grateful to Mandy for her vision to create Commercial Executive Magazine, a unique and creative commercial real estate publication that not only publicizes leasing, investment sales and development transactions of all sizes, but also includes the human side of the business, which to many, is the most important to share.

Thank you to Karen and Celina for all that you do!

Thank you Commercial Executive Magazine for making such a positive difference in our industry and in the community that we all are so proud of.

Cheers to your new adventures!

Barry Gabel

Chris Marchildon

Amy Alschlager

Jamie Altholz

Ada Rose Mancusi

Ryan Reading

Executive Vice President

First Vice President

Client Services Specialist

Senior Financial Analyst

Graphic Designer

Associate Business Analyst

www.cbre.us/ipmetrophoenix

Commercial Executive Magazine held an exclusive event on December 2, 2021, at Arizona Country Club, announcing the winner of Broker of the Decade, Barry Gabel, and presenting the Executive of Excellence Award to Sharon Harper.

“There is no one more deserving of Broker of the Decade than Barry,” said Mandy Purcell, publisher of Commercial Executive Magazine. “He is one of the best people I know and I’m grateful for his friendship and continued support over the years.”

The magazine also presented Sharon Harper with the Executive of Excellence Award. “Sharon has always been a forward-thinking individual, one who has changed the commercial real estate landscape in the valley and beyond,” said Purcell. “Sharon has been a longtime supporter of the magazine and an unbelievable contributor to our industry. She has been a mentor of mine and I have so much admiration for her as a colleague and friend.”

This was the first event CEM hosted since the Fall Forum in 2019. Click here for more photos from the event.

30

© MPmedia, LLC 2021

© MPmedia, LLC 2021

31

It’s not just about understanding the numbers.

It’s about a banker who understands your business.

A one-to-one relationship with your banker—a banker who truly understands your business—is how Alliance Bank of Arizona delivers on accountability.

Meet Your Local Banking Expert: Ericka LeMaster Senior Managing Director, Commercial Real Estate elemaster@westernalliancebank.com (602) 952-5452

alliancebankofarizona.com One of Forbes’ Best Banks in America Year After Year Alliance Bank of Arizona, a division of Western Alliance Bank. Member FDIC. Western Alliance Bank ranks high on the Forbes “Best Banks in America” list year after year.

Top

COMMERCIAL PROPERTIES INC.

1,834

PRODUCERS 2021

14M+

Sales & Leasing Transactions

27.7M

Square Feet Managed

Square Feet Closed

$508M+ In Total Sales Transactions

1 LEROY BREINHOLT

DAVID BEAN

2

CORY SPOSI

MATT ZACCARDI

JEFF HAYS

7

8

6

5 ERIC JONES

BRANDON KOPLIN

11

BOB SOULES

TATE GUNNING

DARIN EDWARDS

KEN ELMER

12 REX GRISWOLD

2323 W University Dr. | Tempe, AZ 85281 8777 N Gainey Center Dr., Suite 245 | Scottsdale, AZ 85258 (480) 966-2301 | www.cpiaz.com

CIA

L PROPER

TIE

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ANDY JAFFE

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C.

MICHAEL DOUGLAS

M

IN

LANGDON BRIDGES

SAM RUTLEDGE

9

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10

CORY BREINHOLT

4

3

TYSON BREINHOLT RYAN EDWARDS

KELLI JELINEK

40 YEARS forty

E S T. 1 9 8 1

It is a rare accomplishment during a career when a professional can establish a record in their

field. For Robert Kline, managing director, Debt & Structured Finance, Southwest Region, Colliers, that moment occurred in December 2021 with a $1.2 billion refinancing package for Grand

Canyon University. “This transaction is the biggest commercial real estate offering ever completed

in Arizona,” says Kline. “I am most proud of how Colliers utilized its teamwork and expertise in

tandem with the client to create a great result for

the university and all of its students and faculty. As huge as this transaction was, it involved nothing short of seamless execution, teamwork and collaboration.”

34

© MPmedia, LLC 2021

Starting Points

Background

A 38-year CRE finance veteran, Kline has facilitated over $10 billion in development and refinancing capital, as well as $9 billion in restructuring arrangements. In 2021, his team booked $2 billion in deals. “Our Southwestern region debt and equity platform has grown exponentially over the year, and we expect it to continue expanding into 2022,” he says.

Kline was introduced to the business by his brother after graduating from the University of Miami. “He involved me in a collection of his projects on the East Coast, and I was hooked,” Kline says.

“Throughout my career, I have been fortunate to engage in projects from the development, acquisition and lending sides of the industry.

As a result, I gained not just depth, but breadth of experience.”

© MPmedia, LLC 2021

35

Robert Kline

Colliers Joining Colliers in April 2020, Kline has continued to build on his record of success at firms, including Jones Lang Lasalle, Cushman & Wakefield, and his own ventures, R.W. Kline Companies and R.W. Kline Capital. “I am very excited to be part of this team at Colliers. I worked for other excellent firms in my past, but I have to say the Colliers/GCU experience proved that this is the most effective and collaborative organization I have worked for in my career,” he says.

Cycles Through the decades, Kline has experienced the vicissitudes of the business and has always been adroit at spotting

36

Mindy Korth

Todd Noel

opportunities. “Being able to pivot has been important in my career. It’s a strategy of finding a mix of both working in the good times and putting money out on the street as a mortgage banker, as well as becoming a restructuring expert on the other side of the coin during the down markets,” he says.

“This approach enabled me to keep busy literally year-round, throughout the peaks and valleys of each cycle.”

GCU GCU has evolved into an educational powerhouse during the tenure of President Brian Mueller. Over the years, Colliers has been a trusted partner in the institution’s development. “Todd Noel, national director of Colliers' Education Advisory Group, © MPmedia, LLC 2021

“I am most proud of how Colliers utilized its teamwork and expertise in tandem with the client to create a great result for the university and all of its students and faculty. As huge as this transaction was, it involved nothing short of seamless execution, teamwork and collaboration.”

—Robert Kline has provided over 14 years of dedicated service to GCU,” says Kline. In 2018, the university transitioned from a for-profit entity to a non-profit status, which required extensive capital to purchase school assets. “Todd’s relationship with the client and unparalleled knowledge of GCU’s real estate and their needs led to this recent financing pursuit,” says Kline.

Along with Noel, Kline and other Colliers professionals Mindy Korth and Jeff Black tapped the bond markets to refinance existing debt at a lower interest rate and consequently © MPmedia, LLC 2021

reduced borrowing costs. "The scope of this refinancing is pretty significant in the higher education bond market and speaks to GCU's solid financial performance in the three years since reverting to our historical nonprofit status," says Mueller.

"This will help in our efforts to continue to freeze tuition costs on campus, which we have done for 14 straight years, while also continuing to invest in academic infrastructure in order to keep up with the growth of the university."

Road Ahead As 2022 unfolds, Kline sees strong growth prospects for Colliers Capital Markets team. “We are currently looking at over $2.5 billion of transactions on the books for the coming year,” he says. “The influx of transactions that we are viewing to finance in Arizona and abroad shows us an exciting path of excellent execution for 2022. Multifamily, industrial and data center obligations lead the way, while hospitality and certain retail projects have certainly seen some progression as of late.”

Closing Not one to rest on success, Kline is certainly ready to break his record-setting deal in 2022. “This is an impressive Colliers team, and we are excited at the prospects moving forward,” he says.

37

Over 295 academic programs including 250+ online programs

1

For more information, please visit gcu.edu

As of Sept. 30, 2021. Excludes programs with Residencies.

Grand Canyon University is accredited by the Higher Learning Commission (hlcommission.org), an institutional accreditation agency recognized by the U.S. Department of Education. Please note, not all GCU programs are available in all states and in all learning modalities. Program availability is contingent on student enrollment. The information printed in this material is accurate as of JANUARY 2022. For the most up-to-date information about admission requirements, tuition, scholarships and more, visit gcu.edu. ©2022 Grand Canyon University 22GPS0002

1

ONE GREAT YEAR

As 2021 comes to a close we reflect on how fortunate we are with the success of our business, our team and those that make it possible. We would like to thank our outstanding brokerage community and the following individuals for partnering with us to expand our asset portfolio and filling our buildings: CBRE Corey Hawley Jimmy Cornish CRESA Ryan Burkett CUSHMAN & WAKEFIELD Bob Buckley Tracy Cartledge Chris Nord Will Strong Phil Haenel Andy Markham Jeff Hartland

JONES LANG LASALLE Ryan Bartos Trevor Pratt LEE & ASSOCIATES Ken McQueen Chris McClurg MONOLITH GROUP DEVELOPMENT Tony Ardizzone NAI HORIZON Shelby Tworek

NEWMARK Mike Garlick Mike McQuaid Tom Adelson Erin McClure CJ Osbrink Joe Hoye ORION REALTY GROUP Tom Imparato SRS REAL ESTATE PARTNERS Scott Ellsworth Brian Polachek TRANSWESTERN Connor Maloney Scott Baumgarten

DIVERSIFIED PARTNERS Jeff Alba

With your help, we will continue to be fully invested in the future.

Thank You

CBRE Debt & Structured Finance Rocco Mandala & Team 2021 Production

$1.944 B CLOSED $67,000,000 San Villante 348 Units | Built 2021 | Life Co. Mesa, AZ

Rocco Mandala

Joshua Manelis

Vice Chairman rocco.mandala@cbre.com +1 602 735 1775

Sr. Production Analyst joshua.manelis@cbre.com +1 602 735 5356

602 735 5555 | 2575 E Camelback Rd, Suite 500 • Phoenix, AZ 85016

49 Transactions 21 Lenders

Agency, Life Co., Debt Funds, CMBS

$118,000,000

$99,459,000

$97,500,000

$63,281,000

The Palladium 390 Units | Built 2007 Debt Fund Henderson, NV

Andante Apartments 576 units | Built 2001 Agency Phoenix, AZ

Slate Scottsdale 278 Units | Built 2016 Debt Fund Scottsdale, AZ

Garden Grove 376 Units | Built 1988 Agency Tempe, AZ

$52,500,000

$33,015,000

$12,900,000

$12,000,000

Stone Oaks 392 units | Built 2003 Life Co. Chandler, AZ

Downtown 360 151 Units | Built 2017 Debt Fund Salt Lake City, UT

Club 715 71 units | Built 2020 Agency Mesa, AZ

Chaparral Plaza Grocery Anchored Shopping Center Built 1995 | Life Co. Scottsdale, AZ

Lender Breakdown Debt Fund $1,104 Billion | 24 Loans Agency $606 Million | 20 Loans Life Co/Bank/Other $234 Million | 5 Loans

12% 31%

57%

“Many thanks to CEM for the support and excellent coverage of our industry for the past 14 years...it will be missed.”

Legends of Law

Nick Wood Partner, Snell & Wilmer

Nicholas J. Wood, P.L.L.C, partner, Snell & Wilmer, certainly has his finger on the pulse of commercial real estate activity in the Valley, and specifically Downtown Phoenix. “I have completed, or am currently working on, 50 projects in in Downtown Phoenix,” he says. “Downtown is a vibrant and attractive place to live, to work and to play. It is the central hub of the fifth largest city in the nation and brings a cache and brand that continues to grow with each new groundbreaking ceremony.”

Starting Points

The highly successful and prolific zoning attorney has spent his career shaping the Greater Phoenix landscape with an impressive portfolio of developments. “I am the only zoning and land-use attorney in Arizona that also has a LL.M. in Tax (master’s in law),” he says. “As such, there are 22 government property lease excise tax transactions (8-year tax abatement leases, or GPLETs) in Downtown Phoenix, and I have structured 18 of them, 17 of which are for high-rise buildings.”

Resume

Licensed to practice in Arizona, Wisconsin and Colorado, Wood’s curriculum vitae is one of the most distinguished in the legal profession. His work over the years has included some of the most notable developments in the region including The OIC condo tower and

42

hotel, the Hilton Garden Inn, 44 Monroe (34-story condo tower), the Hampton Inn hotel, the Cambria hotel, the Marriott Residence Inn, the Hyatt Place hotel, the Hilton Garden Inn (adaptive reuse); Adeline, X Social, Hubbard 6th and Garfield, and the Stewart, tax structure for the State Farm Project in Tempe, Mayo expansion Phoenix, and Optima Kierland.

Sports

Greater Phoenix is one of only 13 U.S. metros that can boast of hosting all four major professional sports teams: baseball, football, basketball and hockey. The “Big 4” are an important source of economic vigor for the region with team revenues generating hundreds of millions, and Diamondbacks, Cardinals, Suns and Coyotes franchises registering multibillion dollar valuations. Wood understands

this fact as he is directly involved with transactions involving the puck and the national pastime. “I am currently lead outside counsel with respect to a proposal by Alex Meruelo, the owner of the Coyotes hockey team, as he seeks approval to develop an almost $2 billion arena and entertainment complex in Tempe,” he says. “The project would completely change the complexion not only of Tempe but the entire Valley area, and it is going to be entirely privately financed with not a dime coming from taxpayers. I am pretty excited about being on the front lines as we try to build a complex that will contain a more than 16,000-seat arena, office and residential © MPmedia, LLC 2021

Central Station Central Avenue & Van Buren Street

development, multiple hotels, a theater, a ‘Restaurant Row’ and a retail center. It is not a small project.”

As for Major League Baseball, Wood is providing his expertise on financing arrangements. “I created tax structure legislation, which was passed in 2021 and signed by the governor, for the Diamondbacks to permit the organization to make hundreds of millions of dollars of improvements to Chase Field without using any taxpayer money,” he says.

Success

Throughout his storied career, Wood has navigated entitlement scenarios, © MPmedia, LLC 2021

both complex and fulfilling. “The Arizona Biltmore Resort rezoning case was certainly the most challenging, while the most rewarding has been my pro bono, counsel to Central Arizona Shelter Services organization for over 10 years,” he says. “We just completed all of the zoning entitlements for a new Haven project, which is a converted hotel which will house elderly former homeless adults.”

Opportunity

With the significant population inflow into the Valley, Wood cites the need for significant investment in housing, specifically multifamily.

“Organized opposition to apartments is becoming a major problem for the development community. The problem is that we are facing a housing crisis that is unprecedented,” he says. “Urban sprawl is not the answer. The solution is providing quality concentrated housing options in urban and suburban areas.”

Future

Wood’s calendar in 2022 shows no signs of slowing down. “I have never been busier in my career,” he says. “I am thankful and grateful to continue to play a small part in the growth of Downtown Phoenix and the Valley. It is both humbling and gratifying.”

43

Zoning and Land Use at Burch & Cracchiolo Ed’s Dream Team We congratulate Ed Bull for being honored as one of the 2021 Legends in Law. Ed leads a team of consummate professionals who together represent one of the premiere land use and zoning teams in the Valley of the Sun.

Burch & Cracchiolo, P.A. 1850 N. Central Avenue, Suite 1700 Phoenix, Arizona 85004 602.274.7611

Brennan Ray

Ricki Horowitz

Brian Greathouse

Andrew Miller

Matt Skelly

Ali Bull

2022

bcattorneys.com

BE authentic.

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Legends of Law

Ed Bull Burch & Cracchiolo

Ed Bull, certified specialist in real estate law, Burch & Cracchiolo, attributes his career success to an often-used quote. “I have been very lucky in my profession. Over the years, the harder I work, the luckier I get,” he says.

Starting Points

Any luck aside, Bull has definitely put in the work, over five decades, at the firm he joined while in law school at Arizona State University. “I entered Burch & Cracchiolo as a clerk in 1978, graduated in 1980 and became an associate,” he says. “I remember in those early days working on litigation files by day and learning the practice of zoning law by riding shotgun for veteran zoning lawyers at municipal zoning hearings at night.”

Zoning

Underpinning every development in commercial real estate is the zoning and entitlement process, which places strategic importance on the legal team representing the property owner’s or developer’s interest. “Industry outsiders are not familiar with how critical the entitlement operation is to a project,” he says. “I take great pride in knowing that the housing subdivisions, industrial buildings, office complexes and shopping

46

centers I have had the opportunity to work on came to fruition, in part, because of our dedicated effort during the entitlement process.”

Projects

Across CRE segments, Bull has touched hundreds of developments running the spectrum from one to 20,000 acres. “The largest project I have been involved with is Estrella in Goodyear,” he says.

On a slightly smaller scale, Bull describes the zoning process for the 18-acre property at the northwest corner of 44th Street and Camelback as one of the most challenging of his career.

“The original redevelopment plan in 2011 did not come to fruition. However, RED Development’s mixed-use concept is excellent,” he says. “Ensuring that the rezoning process included the Phoenix Suns and Mercury practice facility, Class A office, hospitality, retail and restaurant space was difficult, but worth the time

and commitment.”

As for the most rewarding, Bull identifies 44th and Camelback and the Scottsdale Portales at Scottsdale and Highland as near the top, but highlights Cityscape in Downtown Phoenix as the winner. “Every time I drive by CityScape, I smile,” he says. “The development transcended to old ‘Duece’ into a dynamic live, work, shop, hospitality and entertainment destination that was critical to the redevelopment of Downtown Phoenix and is a tremendous asset for the metro.”

Accolades

Given Bull’s portfolio of iconic projects, there is little wonder that the © MPmedia, LLC 2021

The Grove

distinguished counselor has earned the “Best Lawyers in America” credential each year since 2003, and awarded the 2014, 2018 and 2020 “Best Lawyers ‘Lawyer of the Year’ Phoenix in Land Use and Zoning Law.” “I am honored to be recognized by my peers,” he says. “Zoning law is never static and client needs are always evolving. I always need to be learning and improving my performance.”

Greater Phoenix

The year 2021 has been a busy one at Burch & Cracchiolo, and Bull cites the growth of the Valley as the primary reason. “This is one of the most robust © MPmedia, LLC 2021

markets in the country. A diversified economy, booming jobs market and an entrepreneurial vigor are catalysts for long-term expansion,” he says. “One of our biggest challenges, and critical for future economic development and jobs growth, will be to provide quality, closeto-work, attainable/workforce quality housing options for existing and future employees and residents.”

Relative to entitlements, Bull sees the continuing trend toward infill. “We are tackling some exciting projects in redevelopment, particularly as traditional retail is morphing and developers are reimagining property uses,” he says. “And certainly, mixed-use developments are providing

terrific work, live and play options.

Future

Looking at his extensive career at Burch & Cracchiolo over the years, Bull is grateful for his over four decades at the firm. “It has truly been a blessing to have the opportunity to be part of this premier legal practice, to learn from Dan Cracchiolo, Haze Burch and others, and to be a mentor to Brennan Ray, Brian Greathouse and other well-established and up-and-coming zoning lawyers.” Reflecting on his humble Mid-West farm-boy roots, Bull concludes with “It’s been a great run, the future is bright” and, with a smile adds, “And I “ain’t” done yet”.

47

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Legends of Law

Wendy Riddell Founder and Managing Partner Berry Riddell

Reflecting back, Wendy Riddell, founder and managing partner of Berry Riddell can thank a law professor for her successful start in the practice of entitlements and zoning law. “I had just been hired at Beus Gilbert by John Berry (now my partner in Berry Riddell). I was there no less than 24 hours before I was handling my first contentious hearing before a village planning committee,” she says. “There was significant opposition to the project, and I had no idea what to do. Luckily, one of my law school professors, Mike Whithey, was in the audience. I went flying up to him to ask him what I should do, and he told me I wanted a continuance (which I had no idea was even a thing). It was readily given to me so we could work things out with the neighbors. The firm thought I was brilliant to figure it out all on my own.”

Starting Points

The practice of zoning law was not on Riddell’s radar after graduating with her J.D., Pedrick Scholar, Order of Barrister, from Arizona State University.

“Perhaps after reading a few too many John Grisham books, I thought I wanted to be a criminal prosecutor. My father, a developer himself, told me that he would support me in my inevitable poverty as a prosecutor if I would take the six months between taking the bar and being employable and work at Beus Gilbert, the firm he used in his development business,” she says. “After John hired me and that first hearing, I was hooked.”

50

Berry Riddell

After six years at Beus Gilbert, Riddell followed her mentor to Berry & Damore for eight years before teaming with him to start Berry Riddell in 2013.

“I am very grateful for the firm we have built and the privilege of working alongside so many incredible people,” she says. “We are busier than we have ever been and working on really great projects.”

Zoning

The practice, ranked in 2020 and 2022 as a U.S. News & World Report’s “Best Law Firms,” is engaged in a wide range of entitlement and zoning activity

across the Valley. “We are very particular about the cases we agree to take, and we do quite a bit of due diligence upfront,” she says. “If we do not believe that we can add value, both to the case and ultimately to the project and the community, we are quick to pass on it,” she says. “We regularly do this analysis for our clients before they make a deal on a site.”

Resume

During her impressive career, Riddell has earned many accolades including “Best Lawyers In America” 2019-2021.

Along the way, she has registered a sterling collection of development successes © MPmedia, LLC 2021

Phoenix Rescue Mission

including Westgate, Honor Health and the 2,500-acre master-planned community Goldfield Ranch. “The most challenging project was the Innovation Centre in Goodyear, a 224-acre site, now being developed by Crow Industrial and called 10 Goodyear,” she says. “With the construction of the 303, the site was a natural fit for industrial, but factions within the city believed this site should be held for a future entertainment use. We ultimately insisted on moving forward into the public hearing process with a staff recommendation for denial. We also received a Planning and Zoning Commission recommendation for denial, but luckily the City Council recognized the access constraints © MPmedia, LLC 2021

imposed by the 303, and the value of industrial being developed.”

As for the most rewarding project, Riddell points to the Phoenix Rescue Mission. “Despite significant opposition, we were able to help the organization get the entitlements they needed to expand their campus and provide a meaningful step forward in helping solve homelessness in Downtown Phoenix,” she says.

Trends

The flurry of development activity in multifamily, industrial and single-family will continue, according to Riddell. “We are definitely in a ‘thank goodness’ mode for California, Washington and

Oregon positioning in Arizona. We have seen people and business fleeing those communities, anxious to live and work in the Valley,” she says. “As a result, we have a significant need for more housing throughout the metro, in all forms. There is a growing appreciation for all the Valley has to offer to new industrial projects.”

Future

Clients are certainly pleased that Riddell did not pursue the prosecutorial life of a John Grisham novel. “Choosing this career is one of the best decisions I have made,” she says. “Maybe my father did know something after all.”

51

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GET BACK TO GIVING BACK We are very proud of the success of the Waste Management Phoenix Open, but the focus of The Thunderbirds continues to be our mission of charitable giving and the tremendous impact it has in the community. We cherish the special relationships we have formed with our charity partners and we can’t wait to host the 87th edition of “The People’s Open.” Let’s Get Back to Giving Back.

— Scott Jenkins, Big Chief, The Thunderbirds

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Congratulations to Mandy Purcell on her retirement, and thank you to Commercial Executive Magazine for its impact.

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Commercial Executive Magazine has had an incredible impact on the Valley's commercial real estate market. We would like to congratulate Mandy Purcell on her retirement and thank her team for their work to promote the industry over the years.

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