Issue 4, 2019

The SUMMER Issue

RYAN SARBINOFF Marcus & Millichap

Mentors & Mentees Stories of guidance and collaboration

Broker of the Month Bettina Hunt talks trends in medical office

Living It Up Projects to watch in senior living © copyright MPmedia, LLC 2019

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CEM-AZ.COM • ISSUE 4, 2019

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THERE ARE ONLY TWO OPTIONS REGARDING COMMITMENT. YOU’RE EITHER IN OR YOU’RE OUT. THERE IS NO SUCH THING AS LIFE IN-BETWEEN. -Pat Riley Former NBA Player & Coach

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PANELISTS

Karrin Taylor Robson Arizona Strategies

Larry Van Tuyl

VanTrust Real Estate

Dr. Michael Crow

Erik Olsson

Arizona State University

Mobile Mini

Bigger Better Booming •

Date: October 30th, 2019

MODERATOR

•

Start Time: 2:15 p.m.

Location: The Camby

Sponsorships

Tickets and Tables

Agenda

Contact Karen Gallagher for sponsorship opportunities karen@mpmediaaz.com 602-955-2899

Table of 10: $1,500 Single Ticket: $175

2:15 p.m. - Registration and networking 3 p.m. - Panel discussion 5 p.m. - Cocktails & hors d'oeuvres

Limited seating this year Only 6 tables left!

Jason Morris Withey Morris

Sponsors

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IN THIS ISSUE

12

Mentors & Mentees

Three stories of leaders in commercial real estate and their protégés.

24 Rock Star

Daniel Raimer reflects on his personal journeys and career path.

40

Living It Up

Senior living facilities on the rise with the aging population.

Bettina Hunt

This issue’s Broker of the Month talks changes in healthcare and medical office trends.

17 Cover Story

Ryan Sarbinoff embraces the future of commercial real estate.

34

Erin McClure

Swinging into the spotlight as this issue’s Emerging Professional.

42

FOUNDER & PUBLISHER Mandy Purcell, mandy@mpmediaaz.com MANAGING DIRECTOR Karen Gallagher, karen@mpmediaaz.com EDITOR-IN-CHIEF Celina Busse, celina@mpmediaaz.com CREATIVE DIRECTOR Zane Bolen, zane@mpmediaaz.com SALES Karen Gallagher EDITORIAL Celina Busse, Tim Randall GRAPHIC DESIGN Zane Bolen PHOTOGRAPHY Zane Bolen 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

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“The charm of fishing is that it is the pursuit of what is elusive but attainable, a perpetual series of occasions for hope.”

-John Buchan

Letter From The Publisher

L

ike many Phoenicians in the summertime, I find myself escaping the Valley each year in search of cooler weather. A tradition in my family is our annual world-class freshwater fishing trip in Saskatchewan, Canada. Now, I know most of you who know me are thinking, “Is she serious?” The truth is, I look forward to this trip every year and even made it on the front page of The Tundra Times for catching a trophy pike (45.5”), a trophy trout (36.5”) and a trophy grayling (18.5”), known as the Triple Trophy 100”+ Club, all while wearing my Louis Vuitton rain boots! Family time is so important, and I believe it’s much needed during these summer months to take time away from the office and come back feeling refreshed and ready for our industry’s busy season in the fall.

Speaking of those who are gearing up for the future, Ryan Sarbinoff, the inspiring, young and all-around genuine leader in Phoenix commercial real estate, shines on the cover of Commercial Executive Magazine’s summer issue. Sarbinoff is vice president and regional manager of Marcus & Millichap’s Phoenix office. He chats with CEM about how he is diving into the future of CRE and reflects on what he has accomplished in the short amount of time he’s been leading the Marcus & Millichap office in the Valley. You won’t want to miss this cover story on page 24.

Bettina Hunt, vice president - leasing, Healthcare Trust of America, Inc. (HTA), is this issue’s Broker of the Month. Hunt discusses the many ongoing changes in healthcare, medical office trends and her unique style of business. Read about Hunt on page 12.

Senior Living is also a topic that ties in with the huge generation wave about to impact our industry. Read about current developments underway and “ones to watch”on page 42.

As we get closer to fall, my team and I are getting ready for our most anticipated event of the year, Commercial Executive Magazine’s annual Fall Forum on October 30th. Don’t miss the most exclusive panel yet: Dr. Michael Crow (ASU), Larry Van Tuyl (VanTrust Real Estate), Erik Olsson (Mobile Mini) and Karrin Taylor Robson (Arizona Strategies). For sponsorship information, contact Karen Gallagher, karen@mpmediaaz.com.

Enjoy the issue,

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Mandy Purcell Founder & Publisher

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BEHIND THE

Success

We’ve all heard the saying “It takes a village” and this applies even more so in the commercial real estate

industry. Behind every complex deal, there is a team of people to make sure it’s executed properly. Behind the Success recognizes that each person has an important role to collectively make the magic happen. Whether it’s masterminding a deal, helping the office stay organized, running the books or implementing marketing campaigns, these incredible projects in the Valley couldn’t happen without these talented professionals.

Polly Maloich

Brokerage Assistant | Office Manager | Eisenberg Company Maloich started with Eisenberg Company in 2005 as Craig Eisenberg’s executive assistant.

Over the years, she moved into several key roles, including brokerage assistant, office manager and marketing department. Maloich works to ensure she stays 10 steps ahead of Eisenberg and the team to provide them with the necessary tools they need so they can continue to be successful.

Craig provided me an opportunity to take the positions I hold within his company and make them my own. For that I will forever be thankful. Craig and the brokers continuously challenge me, inspire me and teach me. I have found that nothing compares to the satisfaction of accomplishing big things with great people, such as the Eisenberg Team.”

Nicholas Sobraske

Land Use Planner | Gammage & Burnham Sobraske’s comprehensive understanding of the nuances of land use and the development process, partnered with his ability to effectively interface with the government and consultants, enables him to help clients navigate many difficult processes with ease. He specializes in land use, construction and building codes, long-range planning, and other entitlement matters.

With Gammage & Burnham, I’ve had the opportunity to work on a variety of challenging developments ranging from master-planned communities to small-scale, one-off projects. It’s rewarding to contribute to the success of our clients’ projects through improving the development process, problem solving, and when necessary, developing “out of the box” solutions, and ultimately see their projects be constructed.”

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Lucy Ray Vice President & Real Estate Loan Officer | Alliance Bank of Arizona

Ray serves as a vice president, real estate loan officer, for Alliance Bank of Arizona. Ray is responsible for new business development as well as providing acquisition, construction, bridge and term financing solutions for CRE investors and developers. Ray joined Alliance Bank in 2014 and serves clients with a primary focus on markets in the Southwestern United States. Alliance Bank of Arizona is a division of Western Alliance Bank, Member FDIC.

I really enjoy the entrepreneurial nature of Alliance Bank which allows me to provide lending solutions that make sense for my clients. Additionally, I appreciate that our executives truly care about our customers and make it a priority to understand their businesses.”

Melissa Swader

Director of Marketing, PR & Administration | SVN

Melissa Swader is the Director of Marketing, PR & Administration for the SVN office. She is responsible for creating and implementing a comprehensive marketing, public relations and administration program that enhances the brokerages, brand content and national PR presence within the CRE industry.

I love the power that marketing and media influences do for the CRE industry. For every transaction, there’s always a backstory that people on the outside don’t always see. The greatest reward is getting to share those details in such a way that it motivates, inspires and makes a difference for our advisors and our clients.”

Matt Kolano Research Analyst | JLL

Kolano is the primary market analyst for JLL’s Southwest Multifamily Capital Markets Team – a group led by John Cunningham and Charles Steele. Kolano monitors economic, demographic and real estate trends, then turns that information into models that help his team provide JLL clients with smart opportunities for value creation.

At the risk of sounding cliché, I like that our team is practically family. We share the same values and purpose, each fulfilling a critical role. I also like the challenge of my job. Every client has a unique need and being creative helps us service those clients. Because of this, my position allows me to create, improve and be entrepreneurial on a daily basis.”

Lindy Gosnell Office Manager | Withey Morris Gosnell joined the firm in 2007. She is responsible for the day-to-day operation and management of Withey Morris including accounting, information technology, human resources, benefits, marketing, and service and equipment contracts. She is also responsible for providing administrative leadership for the office, scheduling firm events and political fundraisers.

The thing I enjoy most about Withey Morris is working with a team that truly believes in me. Because the partners have faith in my work ethic, I am allowed a lot of flexibility with my work schedule, which has been a tremendous help in balancing work and home life.” © copyright MPmedia, LLC 2019

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CONGRATULATIONS LINDY! Withey Morris is proud to congratulate our office manager, Lindy Gosnell, for her Behind The Success recognition. She’s the glue that keeps us together, the captain of the ship and our cheerleader when we need a boost. Her commitment and leadership help our firm run smoothly so we can dedicate ourselves to our clients’ needs – helping them build the Valley one project at a time.

Withey Morris is your advocate at City Hall.

Land Use • Zoning • Real Estate • Government Affairs Building Arizona from concept to completion

(602) 230-0600 info@WitheyMorris.com WitheyMorris.com

Polly

Thank you for your 14 years of willingness to help out wherever there is need. It’s that kind of flexibility and dedication that has helped our company grow to its full potential.

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-Craig Eisenberg

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BUILDING MOMENTUM

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D EV E L O P E R

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James V. Camp

Mark Singerman, LEED AP

Senior Vice President and Regional Development Officer

Vice President Regional Director - Arizona

RGDC-CA@rockgrp.com

RGDC-AZ@rockgrp.com

®

www.rockefellergroup.com © copyright MPmedia, LLC 2019

Phil Breidenbach, SIOR phil.breidenbach@colliers.com 602-222-5073

Industrial: Paul Sieczkowski, SIOR paul.sieczkowski@colliers.com 602-222-5085

2390 E. Camelback Road, Rob Martensen, SIOR, CCIM Suite 100 rob.martensen@colliers.com Phoenix, AZ 85016 602-222-5082 602-222-5000 11 www.colliers.com

BETTINA

Broker of the Month Presented by Willmeng Construction

In 2018, U.S. consumers outlaid $3.65 trillion in healthcare expenditures, a figure accounting for 17.9% of the nation’s gross domestic product (GDP). By 2027, analysts forecast the GDP/healthcare ratio to hit 19.4% with an annual growth rate of 5.5%. This surge in healthcare spending is music to the ears of Bettina Hunt, vice president – leasing for Healthcare Trust of America, Inc. (HTA). “There continues to be a demand for medical office space,” she says. “Both baby boomers and millennials are experiencing life-changing events that initiate the need for healthcare.”

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HUNT

Healthcare Trust of America, Inc.

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Bettina Hunt, shot on location at Mountain Shadows Š copyright MPmedia, LLC 2019

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Starting Points

With a robust $6.8 billion portfolio totaling over 23 million square feet of gross leasable area, HTA is the largest dedicated owner and operator of medical office buildings in the U.S. “HTA is staffed with result-driven individuals that all have the same vision for a successful company,” she says. “The fast-paced, high-intensity culture provides a never-ending opportunity of growing and becoming a better version of yourself.”

have the pleasure of working with a range of physicians from solo practices to large physician groups, including key management personnel from three of Arizona’s largest healthcare systems,” she says. “I take pride in working with these professionals and put forth great effort to remove the ambiguity from the leasing process and bring comfort to the decision makers.”

Background

Commercial real estate is a business of relationships, and Hunt strives to engage and connect with clients to understand their unique needs and situation. “A critical component of being successful in this industry is the art of listening,” she says. “In sales, we are required to communicate well, as we exchange information, but our primary objective in communicating should be to listen twice as much as we speak. This technique is advantageous in learning about the client and helping them to find a realistic real estate solution.”

Formerly a Windy City resident, Hunt relocated to the West Valley and found opportunity in the medical office space. “I worked for a real estate company that owned, leased and managed high-rise buildings in downtown Chicago,” she says. “My excitement to continue leasing high-rise office buildings started to diminish when the tallest building I could find was a three-story medical office building on the campus of Del Webb Medical Center. I soon discovered I had a hidden talent, working with physicians, that allowed me to perform extremely well in this field.”

Medical Office

For the third consecutive year, Maricopa County led the nation in population growth, adding over 80,000 people to the region. Against this backdrop, healthcare providers seek to expand their service offerings as demand steadily increases.

“There has continued to be a growing number of mergers and acquisitions,” she says. “The smaller groups are joining larger practices to reduce their overhead expenses, and this has increased the need for physician groups to expand into larger spaces with longer lease terms to offset the higher tenant-improvement costs.”

HTA

With over 1.5 million square feet of medical office space in Phoenix and Tucson, Hunt is responsible for HTA’s leasing operations in Arizona. “I

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Approach

Personal

A West Valley resident, Hunt is active in the community as a member of Westmarc.

“The organization is focused on enhancing the economic development and promoting the quality of life in the West Valley,” she says. “I am privileged to have the opportunity to contribute to the roundtable discussions regarding healthcare.”

When not negotiating deals and juggling client needs, Hunt enjoys traveling and spending time with loved ones. “My husband and I are a blended family and have been married for 10 years. We have five children ranging in age from 20 to 28 years old,” she says.

Conclusion

As HTA expands its operations in Arizona, the company can count on Hunt to deliver best-in-class service and results for clients.

“I appreciate being a part of something great,” Hunt says.

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“Despite the changes in healthcare, there continues to be a demand for medical office space. Both baby boomers and millennials are experiencing lifechanging events that initiates the need for healthcare; albeit their needs may be different from one another, the need still exists.”

-Bettina Hunt

Vice President, Leasing - Arizona Healthcare Trust of America, Inc. (HTA)

Bettina Hunt, shot on location at Mountain Shadows

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BUILDING…

LEADERS naiopaz.org

PETE BOLTON

Pete Bolton Company

GRADY GAMMAGE Gammage & Burnham

Follow us on Social Media:  @NAIOPArizona  @NAIOPArizona  naioparizona

Larry – Congratulations on your success and everything you do for our industry!

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Merit Partners, Inc. 2555 E. Camelback Rd. | Suite 180 | Phoenix, Arizona 85016 480.483.0360 | www.meritpartnersinc.com

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MENTORS & MENTEES “One of the greatest values of mentors is the ability to see ahead what others cannot see and to help them navigate a course to their destination.”

- John C. Maxwell

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Mentor & Mentee BOB MULHERN & RYAN TIMPANI

For Bob Mulhern, senior managing director, and Ryan Timpani, executive vice president, both of Colliers International, what makes them distinct makes them great. “We are actually very different,” says Mulhern. “Ryan doesn’t have children and I am married with nine kids.” But don’t confuse dissimilar with incongruent. “We both value integrity and are very proactive and ambitious,” says Timpani. “These traits have given us a good foundation on which to build our relationship.”

Starting Points

A 30-year industry veteran, Mulhern directs the brokerage operations for Colliers in Phoenix, Scottsdale and Flagstaff. As for Timpani, office sales and leasing are his niche, partnering with Todd Noel, senior executive vice president, and his accomplished team. “Ryan has already become a ‘market maker’ thanks to his strategic mindset, his deal-making skills, and his commitment to provide unique, creative, personalized services to his clients,” says Mulhern. “Bob is very rational and collected and has an open-door policy,” says Timpani. “He will always step away from what he is doing to provide advice whenever asked.”

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Give and Take

A dedicated husband and father, and a man of deep faith, Mulhern has spent his career helping the next generation of brokers to reach their goals in the business. He lives by the words of St. Francis of Assisi’s Peace Prayer: “For it is in giving that we receive.” /// “Thanks to Ryan, I no longer underestimate how successful a younger broker can be if provided toptier support and given the opportunity to pursue premier opportunities,” he says. “I plan to keep learning from Ryan for quite some time.”

Thanks to Ryan, I no longer underestimate how successful a younger broker can be if provided toptier support and given the opportunity to pursue premier opportunities.

-Bob Mulhern Senior Managing Director, Colliers International

Beginnings

Timpani began his career as an intern at Colliers in 2010 under the tutelage of Mulhern. “One of our younger brokers came into my office and asked me to meet a friend of his who was looking for an internship. I told him that I didn’t need an intern, but to send him in,” says Mulhern. “Ryan came in and within a short time convinced me that I did in fact need an intern, and that he was that individual. I offered him the opportunity on the spot.”

things well,” Mulhern says. “Show up on time, say please and thank you, do what you say you will do and finish what you start.” /// “My goal is to continue to service my clients and their needs and to enhance my skillset in this business,” Timpani says.

Advice & Guidance

In 2011, Timpani joined the Noel group and took Rookie of the Year that same year. “That was our first challenge once the internship ended,” says Mulhern.

“We needed to determine who he wanted to work for among several of our top teams, and the rest is history.”/// As his career has progressed, the accolades continue to pile up including a host of Number One Office and Top Producer honors. “His high energy and natural brokerage instincts make Ryan a long-term industry transformer,” says Mulhern.

Future

With strong momentum, Timpani is poised to follow in the footsteps of his mentor who has built one of the most distinguished commercial real estate careers in the Valley. “This business is about relationships and doing the basic © copyright MPmedia, LLC 2019

What’s the biggest risk you’ve ever taken?

Bob Mulhern

Bob: Abandoning myself into God’s hands without reserve and with boundless confidence!

Ryan: Running with the bulls

in Spain.

What’s on your bucket list?

Bob: Get all the kids through college. Five down … four to go!

Ryan: Diving with great white

sharks (definitely in a cage).

Ryan Timpani

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L to R: Jack Czerwinski, Larry Pobuda, Tommy Czerwinski

Shot on location at Union Tempe

LARRY POBUDA JACK & TOMMY CZERWINSKI

W

ith towers standing 20 and 12 stories high and a pitchfork away from Arizona State University, The Opus Group’s mixeduse development, Union Tempe, is one of the company’s crowning achievements since returning to the Valley in 2014. And for Larry Pobuda, and Jack and Tommy Czerwinski, the $225 million project consisting of 407 units and 31,000 square feet of retail space was a labor of love. “Some deals take a long time to bake, and Union Tempe was in the oven long enough for both Jack and Tommy to have a hand in its creation,” says Pobuda, executive vice president and general manager of The Opus Group.

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Starting Points

Opened in 2018, Union Tempe provided the Czerwinski brothers a hands-on learning opportunity from one of the industry’s most respected and accomplished leaders. “What made it stand out the most was Larry’s pure determination and persistence to make it happen, a great life lesson,” says Jack, a former Opus professional and now a development associate at Majestic Realty. “The biggest hurdle was cleaning Union Tempe, and I don’t think you want me to go into the details of that,” says Tommy with a chuckle.

Background

Pobuda opened the Opus door to the Czerwinski family with the onboarding of Jack in 2015, and the subsequent hiring of younger brother Tommy, who started in July 2019 after interning for the company in 2018. “The Czerwinskis are well known in Phoenix, starting with the boys’ father, who is highly regarded,” says Pobuda. “Larry has not only been a good friend to me, but the Czerwinski family. We all love Larry,” says Jack.

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Mentor & Mentees Lessons

Pobuda’s influence on Jack and Tommy has been instrumental, as both brothers pursue their respective careers in commercial real estate. “My most important lesson from Larry is not to give up on a deal just because everyone is telling you no,” Jack says.

“For me, Larry is someone who takes the time to show you the way things work in the industry and is invested in you personally,” says Tommy. /// In a productive working relationship, both teacher and student benefit from the collaboration. “Jack and Tommy bring a spirit to the work environment and a willingness to jump into any project, big or small,” says Pobuda. “During the Union Tempe development, Jack was relentless in asking ‘Is there anything you need, Larry’ and Tommy demonstrated the same quality.”

Successful Attributes

To achieve long-run success in the industry, a professional must have a distinguishing characteristic that differentiates them from the pack, be it perseverance, heart or hustle, to name a few. “Anyone who knows Jack and Tommy understands that these guys place a premium on relationships,” says Pobuda. “This trait shows up in everything they do and it is never compromised. It’s a great quality embedded in them by their family.” /// “Larry’s best feature is that he takes a personal interest in everyone he meets whether it’s professional or personal,” says Tommy. “Larry is always available and open to help at any time,” says Jack.

What’s the biggest risk you’ve ever taken?

Larry: Moving to Phoenix, mid-career, not knowing what I was going to do after my wife declared that she was leaving Minnesota, moving to Phoenix, and stated, “You are welcome to join me!”

What would you be doing if you weren’t in commercial real estate?

Jack: In another life I think I can see myself being a political talk show host.

What was your first job?

Tommy: I started my own “business” in high school, creating and selling shirts for the students to wear to the sports games. I made a pretty good profit!

Ending Points

The road ahead looks promising for Jack and Tommy, and Pobuda is excited to watch their maturation. “These are two fine young men who can achieve whatever they put their mind to,” he says. © copyright MPmedia, LLC 2019

Shot on location at Union Tempe

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Adam Finkel, Neal Churney

Shot on location at Union Tempe

Mentor & Mentee NEAL CHURNEY, CCIM & ADAM FINKEL, CCIM I

n 2015, Adam Finkel took a chance. Neal Churney, a long-time colleague and mentor, took a call from his protégé seeking confirmation of his decision to strike out on his own and start Tower Capital after their company had been acquired. “I told him everything will work out,” Churney says.

Starting Points

Four years later, Tower Capital’s team, led by Finkel and co-founder Kyle McDonough, has facilitated $600 million in commercial real estate financing for clients. “I know that having Neal bolster my confidence to pursue this venture is a big part in the company’s success,” says Finkel. Meanwhile, Churney joined the prestigious 85-year old commercial real estate banking firm The Alison Company as a principal. “We both pursued opportunities, which would further our career aspirations,” says Churney. “I chose to join The Alison Company for their lending platform and list of correspondent life insurance companies, which increases my access to capital sources and enhances my ability to better serve my clients.”

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“We had crossed paths during his time at Levrose Real Estate and Investments. We partnered on several large-scale deals, and I was impressed by his work ethic and drive.”

-Neal Churney Principal, The Alison Company

Background

Traits

Churney’s career in banking and commercial real estate lending spans over 22 years, where he has originated over $1.5 billion in financing. For Finkel, his path to commercial real estate financing began with positions in leasing. “I wanted to move into the financing sphere and was afforded the chance when I was invited by Neal to join Johnson Capital,” he says. “We had crossed paths during his time at Levrose Real Estate and Investments,” says Churney. “We partnered on several large-scale deals, and I was impressed by his work ethic and drive.”

Finkel and Churney are long on praise for each other’s talents and qualities.

“Adam is bright, personable and not afraid to work hard,” says Churney.

“Starting Tower Capital, Adam proved that focus and perseverance are keys to success.” /// “Neal possesses a reservoir of knowledge, experience and defines professionalism,” says Finkel.

“He is a great guy and has taught me so much.” /// Finkel and Churney hold the coveted Certified Commercial Investment Member (CCIM) designation, the highest certification a commercial real estate professional can earn. “Neal was president of the Central Arizona Chapter of CCIM in 2007,” says Finkel.

Counselor

The commercial real estate sector may offer the best illustration of the importance of a mentor to achieving sustainable excellence. “Neal took me under his wing at Johnson Capital,” says Finkel. “He taught me the right way to do things, first as an analyst and later on the production side of the business.” /// The mentor/ mentee relationship is a pay-it-forward endeavor, as evidenced by Churney’s own experience early on in his career. “Malcom Strauss helped me obtain my first job at a local savings and loan company,” he says. “He was instrumental in my advancement and was a great teacher and individual to learn from.”

Ending Points

Working at their respective firms, Finkel and Churney still find time to collaborate, dialogue and stay connected. “There is a mutual respect,” says Finkel. “I know that we have both benefited from our relationship over the years,” says Churney.

What‘s your hidden talent?

Adam: I have a black belt in karate.

What’s your pet peeve?

Neal: People who over promise and

under deliver.

Biggest risk you’ve ever taken?

Adam: Starting Tower Capital.

What’s on your bucket list?

Shot on location at Union Tempe © copyright MPmedia, LLC 2019

Neal: I would love to go on a golf trip to Scotland.

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RYAN SARBINOFF VICE PRESIDENT AND REGIONAL MANAGER

Marcus & Millichap, Arizona In the business of commercial real estate, it is a rarity to find a talented professional who calls one brokerage institution their home base. In the case of Ryan Sarbinoff, vice president and regional manager at Marcus & Millichap, Arizona, the superstar manager has been with the firm since he graduated from Indiana University in 2005. “Marcus & Millichap has a number of differentiating factors, however there are three that really stand out to me: our client-centric model, specialization and culture,” he says. “This organization is the best-in-class of the industry.”

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Shot on location at Mountain Shadows © copyright MPmedia, LLC 2019

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STARTING POINTS

A North American powerhouse, Marcus & Millichap employs over 2,000 investment sales and financing professionals in 84 offices throughout the U.S. and Canada, with specialization in commercial real estate investment sales, financing, research and advisory services. Even more impressive, the firm boasts $46.37 billion in recently finalized transactions, and brokers close 4.7 transactions every business hour — more than any other real estate investment brokerage firm in the nation. /// As a sports lover, Sarbinoff believes that this kind of efficiency rivals the days of a Peyton Manning two-minute drill, or a Mike D’Antoni era Suns fast break. “Sports offers the opportunity to learn valuable lessons on leadership and teamwork,” he says.

for this topic becomes clear as he discusses myriad examples, which even a few years ago seemed out of the age of “Star Trek.” Consider retail for instance. “For a second, just imagine how autonomous vehicles will change the way we interact with real estate,” he says. “Soon, consumers will be unloaded at the front of a shopping mall and will tell their cars to go park down the street. Upon exit, the car will be out front with its doors and trunk open and waiting.”/// Any developer will explain that one of the biggest challenges to constructing a property is the expense and difficulty of providing parking. “Over the next few decades,

GREATER PHOENIX

In January of 2017, Sarbinoff arrived in the Valley after serving as a sales manager and regional manager in Cleveland and Cincinnati. “I worked for seven years as a broker at the Indianapolis office and was fortunate to be offered the opportunity to take on a leadership role,” he says. “We had tremendous success in Ohio, yielding the highest growth rates in the firm. Phoenix presented a larger opportunity to accomplish the same goals.” /// Without a doubt, Sarbinoff and his talented team have put the Phoenix office on the map of Marcus & Millichap’s most productive hubs.

“Over the last two years, a third of the company’s top 15 producers came from our staff,” Sarbinoff says. “This is a phenomenal market.”

TRAJECTORY

If you want to see Sarbinoff’s eyes light up, simply ask him about the next generation of commercial real estate. “I love dreaming about what the future of real estate will mean to us,” he says. “With advances in technology such as personal transportation drones, autonomous vehicles, automation and robotics, the entire spectrum of commercial real estate will change dramatically.” /// Sarbinoff’s passion

26

drones will allow us to spend our professional lives in the urban core, but live on the outskirts of civilization,” he says. “We will be able to work in one state, live in another and still be in the office every day.”

MARCUS & MILLICHAP

With close to 10,000 transactions finalized in 2018, Marcus & Millichap continues to outperform, and 2019 looks to be on pace for another stellar performance. “Our specialization in investment sales means that 100% of our resources are devoted to helping our clients achieve their goals though our advisory, acquisition and disposition services,” he says. “We are a clientcentric brand and focus on teamwork.

In 2018, 58% of deals featured collaboration between multiple brokers working on behalf of the client to ensure a successful transaction.”

VALLEY MOMENTUM

Shot on location at Mountain Shadows

this problem will disappear. Parking ratios will no longer be required; therefore, density will change,” he says. “We will see more mixed-use developments, especially multifamily and hospitality built on top of shopping malls and on what are now enormous parking lots.” /// In the logistics and supply chain sphere, “automated storage facilities will be built along side of highways in the middle of the desert,” he says. “Electric trucks will be loaded and unloaded in seconds by automated robots. The goods will be sorted and held until a second truck arrives and distributes to local stores and warehouses.”/// As for housing and lifestyle, “personal transportation

A look at the numbers tells a great story about economic conditions in Greater Phoenix. The U.S. Bureau of Labor Statistics reports the unemployment rate at 4%, as of May 2019, while the Federal Reserve Bank of St. Louis indicates annual metro GDP approaching $250 million and with a growth rate of 3.8% in the first quarter of 2019, according to the U.S. Bureau of Economic Analysis. “There are a wide variety of drivers that have Phoenix well positioned in comparison with other metros,” Sarbinoff says. “Population and job growth are trending very favorably for Phoenix right now. The intellectual capital offered in this city is outstanding.” /// While Sarbinoff has an optimistic outlook for the region, he does cite several challenges to becoming an economic dynamo. “There are two issues that must be addressed: education and job diversification,” he says. “We are making progress however. Ongoing improvement is necessary, as these two factors will limit our growth as a city and prevent us from creating and maintaining our brand as a primary market.” /// While affordability continues to be one of the © copyright MPmedia,LLC 2019

42% GROWTH IN NUMBER OF TRANSACTIONS

43% INCREASE IN LISTINGS

49% GROWTH IN REVENUE

62% GROWTH IN PERSONNEL

“Ryan has done an exceptional job in Phoenix. He allows us to continue our tradition of providing excellent brokerage and advisory services to our clients throughout the Southwest.”

-John Vorsheck

Senior Vice President & Western Division Manager Marcus & Millichap

Statistics taken from past 24 months

Valley’s strengths, Sarbinoff has concerns about construction costs. “Rents required for newly constructed properties continue to increase,” he says. “There comes a point where Phoenix is no longer known as an affordable city to live, work and play.

Currently there are affordable areas within the Phoenix MSA, however high demand and construction constraints have created significant barriers to entry due to rapid appreciation in certain submarkets.” /// In the balance though, Sarbinoff sees the metro as dynamic and flourishing. “I’m inspired by the speed and size of Phoenix,” he says.

APPROACH

With over two years under his belt at the helm of the Phoenix office, Sarbinoff is relishing every moment. “This position is exactly the reason I pursued a path in executive leadership,” he says. “I loved being an investment sales broker, however I believe that God has been preparing me for this role my entire life.” /// Surrounded by outstanding professionals, Sarbinoff knows his team is the reason for the success of the business. “At Marcus & Millichap, the emphasis is on our people,” he says. “I find joy in working with individuals to help them become better. Being a catalyst for others to achieve goals is a euphoric feeling.”

FUTURE

Greater Phoenix is proving to be one of the Marcus & Millichap’s most lucrative markets thanks to Sarbinoff and his team. “We have nothing but excitement for the future,” he says. As for what is next … “My strategy is simple: Build an empire and leave every place better than I found it.” © copyright MPmedia, LLC 2019

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© copyright MPmedia,LLC 2019

“At Marcus & Millichap, the emphasis is on our people. I find joy in working with individuals to help them become better.

Being a catalyst for others to achieve goals is a euphoric feeling.”

- Ryan Sarbinoff Shot on location at Mountain Shadows © copyright MPmedia, LLC 2019

29 29

A HISTORY OF SUCCESS BUILT FOR THE FUTURE For nearly 50 years, we’ve helped our clients create and preserve wealth for today, tomorrow and generations to come. Let us use our unique combination of expertise and access to help you maximize returns and get more out of your investments.

Marcus & Millichap Phoenix Ryan Sarbinoff Regional Manager (602) 687-5112 ryan.sarbinoff@marcusmillichap.com

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31

Office Update T

he office market in Phoenix is thriving. With 3 million square feet of construction and a 2.9% increase in rents in 2019, the market conditions in Phoenix are better than ever. Laurel Lewis, senior vice president, NAI Horizon, sat down with CEM to talk all things office, coworking trends and being a woman in the CRE industry.

Background

Lewis’ start in commercial real estate began with a little eavesdropping. “I was at a restaurant and overheard a business broker saying he needed to hire somebody. So, I walked over to the table and said, ‘Funny thing, I need a job.’ So, he said ‘OK.’ I got my real estate license and started working for him in the business brokerage side for about two years.” /// Next, Lewis moved on from that specialty. “I realized business brokerage wasn’t my bailiwick, so I went to work with Leroy Breinholt at Commercial Properties. I went out on my own commissionally, which was a challenge for me as a single mom with two kids, but I doubled what I was making in salary in my first year and haven’t looked back.”

“Buildings that have cool common spaces are very attractive to tenants and create a sense of community.”

-Laurel Lewis

Office

When it comes to office, Lewis says amenities continue to be a big draw for tenants. “Walkability is a big one. Everybody wants pedestrian-friendly buildings, restaurants, common space,” says Lewis. “Buildings that have cool common spaces are very attractive to tenants and create a sense of community.”/// There is one amenity that still is hanging on even as vacancies drop to a projected 12.2%. “Tenants are still looking for parking even though we’re trying to increase our transportation,” says Lewis. “Phoenix loves their cars.”

Laurel Lewis

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© copyright MPmedia,LLC 2019

Office Supply and Demand

2019 Office Outlook

3M square feet

of construction in 2019

12.2% vacancy rate

projected to fall to 12.1%

5.2% growth

averaged in the past five years

Coworking Challenges

Lewis says there are challenges to the open space trend of the coworking environment. “It’s noisy, you’re not getting as much done,” says Lewis.

“A lot of people prefer private spaces when they’re doing programming or engineering or something where they have to have quiet to think.” /// Businesses aren’t actually saving money using coworking spaces, either. “Surprisingly, coworking is not a lot cheaper,” says Lewis. “There’s definitely a need for it, but I think with so much coworking space right now, I’m very concerned about it. I’m not a huge fan of the abundance of coworking space. Not everybody likes it. Even some of the companies that changed their model, they don’t like it.”

Career Moves

Lewis made her moves in the 1990s, when the market was more difficult for women. “It’s tough still for women, but it was really tough in the early ’90s,” says Lewis. “There were two women brokers, period, in the Valley. It was difficult for me to even get a phone call back from brokers, but I’m super competitive and I said I’m going to stick with it, I’m going to do this ethically.

I’m going to learn the business and they will eventually call me back. I get a call back now.” /// She says male brokers are different now. “There’s a lot of younger male brokers now who have been cultured differently,” says Lewis. “I feel like they’ve had working mothers, so they’re used to having women in power that they interact with. 30 years ago, it wasn’t so.”

Future

Lewis is cautiously optimistic on the future of office. “I don’t foresee an immediate downturn. I see still slow progress,” says Lewis. She says population increases, good economic fundamentals, increasing business and more capital are good for developers. /// “There was a pent-up demand for existing space for a long time, but we now have space we can lease to these big tenants,” says Lewis. “I think it’s all just boding well for the community and the real estate industry.”

“I think it’s all just boding well for the community and the real estate industry.”

- Laurel Lewis

© copyright MPmedia, LLC 2019

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Daniel Raimer Director of Real Estate Development

RYAN COMPANIES In September of 2014, Daniel Raimer began his career at Ryan Companies as a project manager on the Marina Heights development in Tempe. A new position, large-scale project and an exciting opportunity. Now imagine that first day on site … after spending the previous year on the adventure of a lifetime. “In October of 2013, I booked a one-way ticket to Bangkok and backpacked across Southeast Asia for almost nine months,” he says. “Before returning back to Arizona, I spent time in South Africa and Brazil. The trip was truly amazing.”

Ryan Companies

Five years later, Raimer now holds the title of director of real estate development, and has crafted a highly successful career at the national commercial real estate development firm. “I feel very fortunate to have been able to work on some complex projects across the CRE spectrum,” he says. “The culture and commitment to excellence at Ryan Companies are unparalleled in the industry. What excites me the most is working with great teams to see a deal come to fruition.”

Background

Raimer began his career at Gilbane Building Company after earning his Bachelor of Science in Civil Engineering from Arizona State University. “I have always loved to solve problems and enjoy math and science,” he says. “But I knew I wanted to be involved in business and finance at some level, which led me to CRE and construction management.”

After his eight-year run at Gilbane, Raimer embarked on his international excursion and returned with the idea of moving into the development arena. “I had spent over three years working on a project with Ryan Companies, and knew their team well,” he says. “There were roles in construction management at Marina Heights, and I was able to secure a position.” /// His foot in the door, Raimer also realized he needed a more robust finance skill set if he was going to find success in development. “During my time on Marina Heights, I was able to complete the Master of Business Administration program at ASU,” he says.

Development

Transitioning from construction to development at Ryan Companies, Raimer found himself involved in several interesting projects. “Marina Heights of course stands out, but I was able to work on Ryan Companies’ first multifamily project in Arizona, Circa Central Avenue,” he says. “Now I have been helping kick off the company’s efforts in developing senior living communities in Arizona.”

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Senior Living

With the surge of the baby boomer population turning 65 at the clip of 10,000 per day, there is a growing energy surrounding senior living options. “There are so many new players in this segment,” he says. “That said, while the sentiment is bullish in the long-term, the fact is that the oldest baby boomer is 73, and the average age of a senior entering a facility is 84, so we are still over a decade away.”/// Ryan Companies is expanding its senior living presence in the Valley with projects at Clarendale Chandler, Acoya Mesa and Acoya Scottsdale at Troon. “We are building strategically and identifying sites with strong submarket fundamentals,” he says.

The Trip

Raimer can point to his backpacking journey as a catalyst for his entrance into development. “There was plenty of time to think as I traveled through Southeast Asia,” he says.

“Development seemed like the perfect platform for my skill set.” /// And there was something else that his mind worked on as he traversed the countryside. “I had met Molly three weeks before leaving for Thailand, which seemed like the worst timing, but in the end, it turned out great,” he says of his now wife. “She actually visited me for 10 days during the trip.”

Future

Ryan Companies has found a great asset with Raimer and will continue to benefit from his capabilities and competencies.

“My time here has been great working on terrific projects, which have provided great learning opportunities for me,” he says. “I am excited for the future and the possibilities across the Valley for Ryan Companies and our stakeholders.”

© copyright MPmedia,LLC 2019

© copyright MPmedia, LLC 2019

3535

P hoenix Style Jennifer Wallace-Sasek & Lisa Bentley

“We achieve success as a team,” says Sasek. “We will always stay true to our foundational principles,” says Bentley.

A

rizona continues to outperform as a national leader in the growth of female-owned businesses. According to the most recent U.S. Census data, women controlled over 180,000 businesses in the Grand Canyon State, which represents approximately 37% of all companies conducting operations. /// In 2016, two dynamic entrepreneurs ‒ Lisa A. Bentley, principal-director of client development, and Jennifer Wallace-Sasek, principal-managing partner ‒ took the reins of McCarthy Nordburg, one of the Valley’s most recognized and prestigious architectural interior design firms. “This was the case of years of hard work and right place and right time,” says Bentley. “One of the founding partners was planning to retire and insisted on seeing the company continue forward in the same spirit and founding values since 1986.”

Starting Points

McCarthy Nordburg currently serves as architect of record for over 12 million square feet of office space and has planned approximately 45 million square feet of commercial office space in its 33-year history. “Architectural interior design is our passion,” says Sasek. “We pride ourselves on design, inspiration, measurable results and extraordinary service.”

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© copyright MPmedia,LLC 2019

Background

Bentley, a graduate of Arizona State University, began with McCarthy Nordburg nearly 25 years ago on the marketing side. “I always had a strong interest and passion for commercial real estate,” she says.

“In my current role, my focus is on finding the right clients for us and nurturing our long-term relationships, which are so important to our firm and growth strategy.” As for Sasek, a graduate of Columbia College Chicago - Bachelor of Arts in Interior Design, her entrance into McCarthy Nordburg occurred in 2005 after positions at Cornoyer Hedrick and Skidmore Owings & Merrill. “I am on the project management and operations side of the business,” she says. “Moving a project from start to finish is a complex yet very rewarding process.”

PXG

McCarthy Nordburg

Each year, the firm adds to its roster of design accolades, including the 2019 and 2018 Ranking Arizona #1 Interior Design Firm, the 2016 NAIOP Interior Architect of The Year and multiple Top 10 Interior Design Ranking lists. For Bentley, Sasek and their talented team members, the recognition emanates from exceptional work with their distinguished collection of clients that include Fortune 500 to middle market and upstart small businesses. “Extraordinary service, experience and knowledge is the key,” says Bentley. “We are a client-centric firm and work tirelessly to ensure our customers receive best-in-class offerings,” says Sasek. /// A review of the company’s projects reveals clients are indeed extremely satisfied with McCarthy Nordburg’s designs and process for companies like OnTrac, PXG, Arizona State University, DoorDash, Plexus Worldwide, Gust Rosenfeld, Globe Corporation, Lincoln Property Company, Nationwide Insurance, YAM, Coppersmith Scottsdale, AZ Berger, Discount Brockelman, Engelman 33,000 SF Tire, Invitation Homes and many more.

Completion: April 2016 “We have terrific clients and relish the opportunity to engage with them on their exciting projects with a long-term perspective,” Bentley says.

PXG

“Quality amenities have become an extremely important value proposition.”

Approach

With the corporate office landscape changing dramatically to incorporate the ever-increasing percentage of millennials in the workforce, Bentley, Sasek and the team still focus on listening to the client’s needs and creating innovative designs for multi-generational space. “It is about flexibility and creating the smartest design for a space that uniquely reflects a company’s brand, business and culture,” MINDSPACE Bentley says. “Quality amenities have become an Tempe, AZ extremely important value proposition,” Sasek says.

5,500 SF

-Jennifer Wallace-Sasek

Mindspace

Completion: November 2015 $500,000 Estimate

Future

Bentley and Sasek aspire to grow and burnish the McCarthy Nordburg brand. “We achieve success as a team,” says Sasek. “We will always stay true to our foundational principles,” says Bentley.

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39

Erin McClure E M E R G I N G

P R O F E S S I O N A L

Erin McClure, associate with Newmark Knight Frank’s Phoenix office, is not afraid of competition – whether it’s on the golf course or as a broker. After she competed as a D-1 golf student-athlete in college, McClure had internships at CBRE in NYC and Tucson before earning a position at CBRE’s Phoenix office. McClure joined Newmark Knight Frank in 2017 after three years at CBRE, where she works with Tom Adelson in tenant representation.

How did you get into the business?

Growing up, my mother, who also works in commercial real estate, would take me on property tours after school and drive around Tucson.

These outings are what initially sparked my interest in the industry.

As a competitive golfer, do you use any of those skills as a broker?

Golf is all about the uncontrollable. When a perfect shot bounces on a sprinkler head and the ball lands behind a tree, the true test is a player’s reaction. In golf, you can’t control the weather or bounces, or if an opponent plays an amazing round; but you can control your patience, decision-making, focus and preparation. These skills impact my life as a broker each day.

What’s the most notable deal you’ve worked on?

Our team represented a new-to-market tenant, Mosaic, Inc., in an 11,000-square-foot lease transaction. Mosaic provides solar and home improvement financing and was seeking a space for its first office outside of Oakland. Mosaic saw Arizona as a big growth market with a talented and diverse employee pool and selected metro Phoenix to open its first satellite office. Our team toured the entire market with the client to familiarize them with the Valley and identified a movein-ready, plug-and-play space at 2800 Tower. It was exciting to be an integral part of their first satellite office outside of California. Mosaic plans to have 100 people in its Phoenix location by the end of 2019.

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LIVING IT UP Projects to Watch in Senior Living

American Groves Senior Living

Acoya Scottsdale at Troon

42

The Manor Village at Desert Ridge

© copyright MPmedia,LLC 2019

Mirabella at ASU

Grande Vita

© copyright MPmedia, LLC 2019

43

G

rande Vita, a BioCity Enterprise, is a $300 million project that will revolutionize the world of senior living.

The concept is designed to create a virtuous circle in which the aging population has access to all necessary levels of assistance.

Grande Vita’s approach seeks to build a senior community with integrated healthcare, recreation and resort living.

The campus will feature independent and assisted living, a variety of dining options, medical offices, a nursing school, rehab clinic, and a 127-room Residence Inn hotel. Grande Vita will incorporate a high-end resort-style design into its campus with green roofs, pergolas, fountains, bridges and reflecting pools.

Not only will the site be aesthetically pleasing, but it will act as an economic stimulus, generating an estimated 476 jobs and $38.6 million in wages.

Additionally, the project facilitates an environment that fosters research and discovery for the medical community; because residents will be housed and living primarily on campus, the opportunities for research are interwoven into the concept. This theme of “aging in place” will allow the senior population to “stay in the same place they’ve grown accustomed to, surrounded by the people, places, and things that feel familiar to them, ultimately making a place feel like home,” says Suky Khangura, project stakeholder of Khangura Development.

700,000 SF

2022

Estimated Completion

Mesa, AZ

Companies Involved Khangura Development, LLC /// project stakeholder BioCity Enterprises, LLC /// project stakeholder Brycon Enterprises /// lead construction Kevin B. Howard Architects /// lead architect Lori Carroll & Associates /// lead interior designer 44

© copyright MPmedia,LLC 2019

Grande Vita

© copyright MPmedia, LLC 2019

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Acoya Scottsdale at Troon

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© copyright MPmedia,LLC 2019

O

ne of the most highly anticipated senior living communities is coming to North Scottsdale. Scottsdale-based Cadence Living has partnered with Starwood Capital Group controlled affiliate and Ryan Companies to build Acoya Scottsdale at Troon. The 198,000 square-foot resort-style senior community is nestled on six acres between Pinnacle Peak and Troon Mountain, providing residents with spectacular views and a connection to the natural beauty of the surrounding desert.

The 135-unit community with independent and assisted living is modeled after the best luxury resorts and perfectly combines dynamic lifestyle amenities and concierge services, allowing residents to live at their own pace. Apartment options include studio, one or two bedrooms.

Resort-style amenities feature an indoor PGA golf simulator, heated swimming pool, rooftop lounge, fine dining, private dining, bistro and pub, weekly housekeeping, fitness center, hair salon, spa, craft room, gardens, walking paths, exam rooms, discrete care, scheduled transportation, valet and underground parking.

The units are designed to offer comfort, style and beauty. High-end appliances and designer-influenced details adorn each home. Amenities include luxury finishes with balconies or patios; full kitchens with quartz countertops, tile floors and full-size stainless-steel appliances; and full bathrooms with walk-in showers. From independent to assisted living, there is no need to move as one’s needs change.

Acoya Scottsdale at Troon provides seniors a holistic approach to life with everything needed to grow the mind, exercise the body and invigorate the spirit.

Currently under construction, wood framing begins August 2019 and the community is projected to complete mid-2020. The Acoya Scottsdale at Troon sales office opens August 2019 and model units will be ready to view in early 2020.

198,000 SF

Mid-2020

Estimated Completion

Scottsdale, AZ

Companies Involved Cadence Living /// co-owner and operator Starwood Capital Group controlled affiliate /// investment partner and co-owner Ryan Companies /// construction, development, architecture, co-owner & capital markets Thoma-Holec /// interior design

Š copyright MPmedia, LLC 2019

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Senior Living Projects to Watch

1 2 3 48

Mirabella at ASU The $167 million Life Plan Community blends a senior community lifestyle with the learning and recreational environment of Arizona State University, delivered with resort-style amenities in spacious penthouses and apartments.

The project is being developed by Pacific Retirement Services, designed

by Ankrom Moissan Architects and constructed by McCarthy Building Companies.

Project Details: Size of Project: 20-story, 613,992 square-foot tower Completion Date: Late summer of 2020 Location: On the campus of Arizona State University at University & Mill Avenue in Tempe.

American Groves Senior Living American Groves Senior Living will offer independent living and assisted living lifestyle options for senior residents in the Gilbert/East Valley area utilizing a strategic integrated model of lodging and care. The project is being developed by American Care Concepts, designed by Allen+Philp Partners and constructed by Layton Construction.

Project Details: Size of Project: 105,000 square-foot facility Completion Date: Spring 2020 Location: Gilbert/East Valley

The Manor Vil age at Desert Ridge The Manor Village at Desert Ridge is a premier senior-living community offering all-inclusive independent-living, assisted-living and memory-care lifestyles. With a robust lineup of on-site amenities, The Manor is designed to meet the changing needs of each resident while allowing them the time to focus on their favorite pastimes.

Project Details: Size of Project: $50 million, 287,000 square-foot facility Completion Date: Late 2020 Location: 5560 East Deer Valley Dr., Phoenix, AZ

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REIAC So Open Invitat

REIACSouthwest Southwest REIAC REIAC/Rockefe OpenInvitation InvitationEvent Event Open Distinguished Speaker Fall Program Thursday, May 2, 2019, REIAC Southwest REIAC/RockefellerChallenge Challenge REIAC/Rockefeller REIAC/Rockefeller Challenge Thursday, May 2019, 4:30 – 7:00 Thursday, 2, 2, 2019, 4:30 pmpm – 7:00 pmpm May 2, 2019 May Arizona Country Club

Sheryl Palmer Online Registration Open Chairman and Chief Executive Officer Please join us for the 6th annual REIAC/Rockefeller Challenge in support of the Master of Online Registration Open Online Registration Open

REIAC Southwest REIAC Southwest REIAC/Rockefeller Challenge REIAC/Rockefeller Challenge May 2, 2019 May 2, 2019 Arizona Country Club Arizona Country Club

Development (MRED) program at the W.P. Carey School of Business. Three competing t MRED students will each present a development solution for a storied piece of local Arizo team will have just 10 minutes to present, with the winning team selected by the audienc members willofeach receive aof$1,000 cash prize, up to $6,000. Registration to attend is op Please annual REIAC/Rockefeller Challenge in support of the Master of Real Estate lease joinjoin us us forfor thethe 6th6th annual REIAC/Rockefeller Challenge in support the Master Real Estate Development (MRED) program at the W.P. Carey School of Business.

Three competing teams of graduating Development (MRED) program at the W.P. Carey School of Business.

Three competing teams of graduating Make Your MRED students each present a development solution a storied piece of local Arizona estate.

Each Reservation Now! MRED students willwill each present a development solution forfor a storied piece of local Arizona realreal estate.

Each Best Regards , team have 10 minutes present, with winning team selected audience. winning team eam willwill have justjust 10 minutes to to present, with thethe winning team selected by by thethe audience.

TheThe winning team members each receive a $1,000 cash prize, $6,000.

Registration to attend is open to the public. members willwill each receive a $1,000 cash prize, up up to to $6,000.

Registration to attend is open to the public.

Mark Singerman T.A. Shover REIAC Southwest Chapter

President Make Your Reservation Now! Make Your Reservation Now!

Regards estBest Regards , ,

Mark Singerman Mark Singerman REIAC Southwest Chapter EIAC Southwest Chapter President resident

Schedule: chedule:

Thursday, 2, 2019 hursday, MayMay 2, 2019

4:30pm Registration Networking :30pm Registration andand Networking 5:00pm – 6:00pm Challenge :00pm – 6:00pm Challenge 6:00 – 7:00 Networking Mixer :00 – 7:00 Networking Mixer

Hosted beverages appetizers. osted beverages andand appetizers.

Schedule:

REIAC Southwest Chapter Program Chair

Location:

Shover T.A.T.A. Shover Thursday, May 2, 2019 Arizona Country Club REIAC Southwest Chapter REIAC Southwest Chapter 5668 E. Orange Blossom Lane Program Chair Program Chair 4:30pm Registration and Networking Phoenix, AZ 5:00pm – 6:00pm Challenge Camelback Golf Club Thursday, October 3, 6:002019 – 7:00 Networking Mixer Location: Location: Registration: 7847 N. Mockingbird Lane Arizona Country Arizona Country ClubClub REIAC Members: Free Hosted beverages and appetizers. Scottsdale, AZ 5668 E. Orange Blossom Lane 5668 E. Orange Blossom Lane Invited Guests: Free – must be accompan Phoenix, Phoenix, AZ AZ Non Members $35.00 Students $25.00 4:00pm Registration and Networking

REIAC Members: Free Registration: Registration: 4:30pm - 5:30pm Program REIAC Members: Free Invited Guest: Free REIAC Members: Free 5:30pm - 6:30pm Networking Mustby beaby accompanied Invited Guests: – must be accompanied a member. by a member.

Invited Guests: FreeFree – must be accompanied member.

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