>> UPCOMING EVENTS
>> PROJECT SPOTLIGHT
>> INDUSTRY ICON
>> INDUSTRIAL MARKET INSIGHTS
>> MARKET UPDATE
>> PHILANTHROPY UPDATE
>> SITE TOUR
>> MENTORSHIP WORKSHOP
>> NETWORKING AT CHASE FIELD
>> ECON PANEL DISCUSSION WORKSHOP
>> ROOKIES AND ROCKSTARS
>> LEGISLATIVE UPDATE
>> MEET YOUR COMMUNICATIONS COMMITTEE
>> HOLIDAY PARTY
>> NEW DL MEMBERS
>> STEERING & COMMUNICATION COMMITTEES
BY ASHLEY WYSOR-ESTRADA
Developer: Viawest Group
General Contractor: Willmeng Construction
Architect: DLR Group
Broker: CBRE
Engineer:
Structural Engineer – PK Associates
Civil Engineer – Kimley-Horn & Associates
Project summary:
The Base, a new development in Glendale that will add nearly 2 million square feet of space to the market. The first phase of the project will include seven buildings ranging from 85,000 square feet to 309,000 square feet, for a total of 1,182,877 square feet. Phase 2 will bring an additional eight buildings spanning 41,000 square feet to 141,000 square feet in size, totaling 780,600 square feet.
Phil Haenel Vice Chair
Cushman and Wakefield
BY CHRISTINE SHAW
>> Backstory: Phil Haenel grew up in Phoenix and went to Brophy College Prep, then the University of Arizona. He has been a leader in the Phoenix real estate market for over 8 years, specializing in the acquisition, disposition, and leasing of industrial assets.
>> First job out of college: My first job out of college was for a San Francisco Office brokerage team for 6 months, and then I transitioned as a runner for a team in Oakland. I was fortunate to have worked for the best team in that office. I still look up to them today and they continue to be mentors for me.
>> Favorite thing about your job: Mike Haenel, Andy Markham and Will Strong have played a crucial role in my career at work and at home. They provide guidance, insights and valuable advice daily. I wouldn’t be here without their amazing advice and paving the way. I admire how they treat people and they are the best at what they do. I am extremely grateful and fortunate to have all of these amazing mentors throughout my life and career.
>> What advice would you give to a DL who is early on in their career: My advice to a Developing Leader is to get involved with NAIOP and go to all the events you can. Make it a priority to get on the NAIOP Steering Committee. I was fortunate to be on the committee for 5 years of my career and have built lasting relationships through NAIOP.
Phil Haenal, Mike Haenel, and Andy Markham Cushman and Wakefield
2023 Best of NAIOP Industrial Brokers of the Year
>> How has the Phoenix Industrial market changed in recent years and what does your team see changing in the future?:
The Phoenix Industrial market has grown considerably since the pandemic due in part to the rise of e-commerce and manufacturing. While there has been a noticeable drop in demand after a historic run that began in 2020, we remain optimistic due to the favorable business climate, labor pool and proximity to the ports in Southern California. The Industrial market will continue to become more diverse as the market continues to mature and is no longer reliant on the construction sector to gauge the health of the market.
>> Is the current Industrial vacancy and available inventory impacting the start of new construction projects?
There has certainly been a slowdown in construction starts due to the supply-demand imbalance in certain submarkets and product types along with supply chain issues. This is expected to be a relatively short-term pause as the market works through the available supply of space.
EXECUTIVE VICE CHAIR
EXECUTIVE VICE CHAIR
VICE CHAIR
Connor Devereux CoStar Group
Underlying demand in the Phoenix retail market remains strong, though a more nuanced picture of space market conditions has emerged. While a pick-up in store closures caused net absorption to decelerate last year, fundamental tightness persists as 2025 kicks off. Broadly speaking, competition for available space is elevated as robust net migration, steady job growth, and rising incomes encourage expansion. These stout demand drivers, coupled with the modest construction pipeline, have kept availability low and rent growth elevated.
Conditions in the Phoenix office market remain dislocated. Users continue to scrutinize the effective use of their footprints, often resulting in space reductions or closures. Additionally, job growth has been sluggish in traditionally office-using employment sectors for over two years. This lowering of underlying space demand caused vacancy to climb more than 550 basis points since 19Q4.
Moving forward, the expiration of pre-pandemic leases during the current environment of softer headcount growth and preference for smaller footprints is expected to keep conditions tepid over the near term. High-quality buildings in the most in-demand submarkets continue to outperform commodity Class B and C space.
A deluge of new development completions continues to drive Phoenix’s industrial vacancy rate higher, a condition that could persist into mid-2025. Builders delivered an unprecedented 37 million SF of net new industrial space in 2024, driving a normalization of market conditions. For comparison, Phoenix averaged 8 million SF of annual net deliveries in the three years leading up to the onset of the pandemic.
The wave of construction overshadows a resilient demand picture. While demand has eased from the frenetic pace seen in 2021 and 2022, leasing volume is 33% above 2019 levels as occupiers related to logistics, construction, and manufacturing continue to expand. Looking beyond the near-term dislocation, the pullback in construction starts indicates a reprieve of supply could occur by late 2025 or 2026, setting the stage for recovery.
NAIOP DLs recently had the incredible opportunity to tour the new Arizona Humane Society Papago Park Campus, and it was an experience that touched hearts and inspired action. This philanthropy-focused event brought participants together to learn about the remarkable work the Humane Society does to care for and find homes for our furry friends in need.
The tour showcased the state-of-the-art facilities and highlighted the innovative programs that make a difference for animals and the community. Participants generously donated to the cause, further supporting the Humane Society’s mission.
It was a memorable day filled with education, compassion, and camaraderie, reminding us all of the importance of giving back. Thank you to everyone who participated and contributed to this impactful event!
THANK YOU TO EVERYONE WHO PARTICIPATED!
Back in May, we were invited to tour the new SubZero industrial project out in Goodyear, AZ. This project is a partnership between ViaWest, Willmeng, Kimley Horn, and DLR Group, among others and will total more than one million square feet of manufacturing space once completed. It was exciting to tour such an impressive build to suit project!
THANK YOU TO EVERYONE WHO PARTICIPATED!
PAST EVENT
August 13, 2024
PAST EVENT
September 26, 2024
September 18, 2024
How to overcome a tough economic market and get deals done! This insightful panel discussion was a benefit to newbies and seniored members alike. A big thank you to our panelists and moderator!
This year’s Rookies & Rockstars event was nothing short of gold-medal worthy! Hosted at the stunning Arizona Biltmore Golf Club, this annual NAIOP DL’s event brought together developing leaders and seasoned Rockstars for an unforgettable evening of networking and camaraderie.
The Olympic theme encouraged attendees to channel their inner athlete, with many showing up dressed as Olympians or their favorite sports stars. The evening featured fun games and challenges, fostering connections and team spirit.
With great participation and an energetic atmosphere, this event proved once again why Rookies & Rockstars is a flagship gathering for developing leaders. We look forward to seeing what next year’s theme will bring!
Economics of CRE in AZ:
• $31.4 Billion contributed to state GDP
• $10 Billion in wages and salaries generated
• 163,980 jobs created and supported
Support the NAIOP PAC – Invest in Arizona’s Growth and Competitiveness:
The NAIOP PAC is essential to ensuring the commercial real estate (CRE) industry’s voice is heard in shaping policies that impact Arizona’s economy and businesses. Here’s why your support matters:
Promote Economic Growth: Economic Growth: By backing pro-business candidates, the PAC helps create an environment that attracts new investments and fosters economic development across Arizona.
Support Pro-CRE Candidates: Your contribution ensures we elect leaders who understand and champion the priorities of the CRE industry, advocating for policies that benefit our members and the broader business community.
Engage in the Political Process: The PAC empowers NAIOP Arizona to influence key policy outcomes, driving innovation and growth while keeping Arizona competitive on a national and international level.
Critical Moment for Arizona: With increasing polarization in elections, the PAC is vital to counter agendas that could harm Arizona’s growth, hinder businesses, and weaken our state’s competitive edge.
Your investment in the NAIOP PAC strengthens our ability to advocate for policies that secure Arizona’s future. Please join us by contributing today at www.naiopaz.org/PAC. Together, we can shape a thriving and competitive Arizona!
Business Development Representative at Sundt Construction
Ashley began her career working for a general contractor in her home state of Oregon. Her role as the Subcontractor Coordinator for the preconstruction department gave her insight into how the commercial construction process works. In her role, she learned about the trades, how contractors price a project and the different delivery methods. She was born and raised in Beaverton, Oregon where she lived until she attended college at the University of Oregon in Eugene. She double majored in public relations and sociology graduating with a Bachelor of Science. Upon moving to Arizona, she combined her degree with her corporate experience and worked for a Phoenix-based marketing agency specializing in commercial real estate and construction. There she gained invaluable exposure to all aspects of the industry while working with clients in development, brokerage, engineering, and construction. She recently began her role with Sundt Construction, a 134-year-old firm specializing in transportation, industrial, building, concrete and renewable power work. As a Business Development Representative, her responsibilities include the development of pursuit strategies, relationship management, lead generation and market research for the firm’s Southwest Building team. When she’s not at work, Ashley spends her time staying active, reading, and volunteering weekly at Phoenix Children’s Hospital as a Child Life playroom volunteer.
December 2024
NAIOP Arizona’s Developing Leaders brought the holiday spirit in style at our Ugly Sweater Party at Boondocks in Old Town Scottsdale! With over 400 members strong, we’re excited to start the new year with this incredible group of future leaders in commercial real estate.
Hannah Langbehn Cuhaci Peterson 12/19/2024
Julien Gutierrez Rolling Suds of Phoenix 12/17/2024
Adrianna Lash Rinker Materials 12/09/2024
Morgan Anderson Chanen Construction 12/06/2024
Marlee Sharp Signature Projects 12/06/2024
Braedon Kantola APS Solution for Business 12/04/2024
Elijah Stephens SVN Desert Commercial Advisors 12/04/2024
Michael Garrigan United Contracting Group 11/27/2024
Maxwell Cohen Sport Surfaces Distributing Inc 11/26/2024
Patrice Marcolla IDM Companies 11/21/2024
Marshall Treleven Forms + Surfaces 11/19/2024
Emily Fann Tiffany & Bosco 11/13/2024
Kyle Swartz Tiffany & Bosco 11/13/2024
Ben Farthing CBRE 10/31/2024
Jake Bonnell Cresa 10/29/2024
Jason Hintze Sprowls & Company PC 10/29/2024
Austin King Torrent Resources 10/24/2024
Jasmine Dolan First American Exchange Company 10/16/2024
Ujjawal Jiratee Chanen Construction 10/16/2024
Jake Mara Trademark Visual Inc 10/03/2024
Quentin Gomez BPR Companies LLC 10/02/2024
Hayden Koning BPR Companies LLC 10/02/2024
Allyson Waddle BPR Companies LLC 10/02/2024
Kiara Keenan Phoenix Rising Investments 09/25/2024
Ryan Gagliano CBRE 09/17/2024
Brendan Jost STORE Capital 09/10/2024
Mariah Davies Bureau Veritas 09/09/2024
Grant Hildebrant Hobbs+Black Architects 09/09/2024
Jake Searl Stevens Leinweber Construction 09/05/2024
Brock Hakalmazian ViaWest Group 09/04/2024
Gabrielle Sikes House of Form 09/04/2024
Russell Webb STORE Capital 09/04/2024
Robert Harding SIHI 08/30/2024
Michael Diamond AR Mays Construction 08/27/2024
Samantha Maxwell Small Giants 08/22/2024
Carson Roland Insurica Southwest 08/16/2024
Luke Miller Wentworth Property Co 08/14/2024
Kyle Wellman Venn Construction 08/14/2024
Benjamin Seale Avison Young 08/10/2024
Casey Mahoney Mahoney Properties 08/08/2024
Katie Hillowe Trammel Crow 07/27/2024
Ashleigh Smith GENSLER 07/25/2024
Lauren Nisenbaum Thrive Real Estate 07/23/2024
Nathan Shooks Harvard Investments 07/11/2024
Kristina Consbruck Small Giants 07/10/2024
Caleb Frost Adolfson & Peterson 07/09/2024
Hannah Hammond The Firm RE 07/01/2024
Robert Wolfsen Lincoln Property Co 06/27/2024
Sadie Risley Chicago Title Agency 06/13/2024
Alex Sotomayer Kimley-Horn 06/13/2024
Logan Baxter RRS and Company 06/10/2024
Justin Folts Hunter Contracting 05/29/2024
Nestor Carrillo Buzze, Inc. 05/14/2024
Matthew Archer Barclay Group 05/08/2024
Tommy Holloran Colliers 05/08/2024
Vanessa Chandler Citywide Commercial Real Estate 05/07/2024
Michael Nardoci Corgan 04/24/2024
Member Delegate Restoration HQ 04/17/2024
Alex O’Malley ARO Construction, LLC 04/17/2024
Angel Estrella Clune Construction Company 04/16/2024
Kyle Behling No Company 04/09/2024
Joseph Daite STG Design 04/09/2024
Jakob Lasiewicki Davis Commercial AZ 04/05/2024
Dillon De Hart West USA Realty 04/03/2024
Courtney Spencer Restoration HQ 04/03/2024
Charl Potgieter Prologis 04/02/2024
Taylor Neu INLINE Commercial Construction, Inc. 04/01/2024
Kyle Spiller BOK Financial 04/01/2024
Rachael DeMarco Brookfield Properties Development 03/29/2024
Austin Maxwell Marsh McLennan 03/26/2024
Stephanie Collins Farmer Woods Group 03/19/2024
Sarah McGaha Cawley Architects, Inc. 03/19/2024
Rikki Reid Corgan 03/07/2024
Tanya Carrazco Wright Engineers 03/05/2024
Paola Pearson Butler Design Group 03/05/2024
Jorge Ramirez Ghost Roofing 03/04/2024
Zach Eckblad Transwestern 03/01/2024
Royden Hudnall Transwestern 03/01/2024
Andrew Olivet Transwestern 03/01/2024
Dylan Sproul Transwestern 03/01/2024
Danielle Smith Deutsch Architecture Group 02/29/2024
Juan Montoya Greystar 02/28/2024
Amy Trott CBRE 02/26/2024
Greer Oliver JLL Capital Markets 02/23/2024
Ryan Coleman Hines 02/19/2024
Paige Blanzy Cushman & Wakefield 02/16/2024
Brian Zehnpfennig SANTE Realty Investments 02/14/2024
Nicholas Charron JLL 02/13/2024
Haley Conway HILGARTWILSON, LLC 02/13/2024
Ashley Hannah HILGARTWILSON, LLC 02/13/2024
Taylor Poston HILGARTWILSON, LLC 02/13/2024
Keri Scott Colliers 02/13/2024
Timothy Bokinsky Ascent Real Estate Advisors 02/12/2024
Zack Harris Kidder Mathews 02/06/2024
Natalie Hilton Jones Lang LaSalle 02/05/2024
Isaac Lane Cresa Global, Inc. 02/05/2024
Kyle Barichello Caliber 02/02/2024
Kiana Cox Stream Realty 02/01/2024
Michael Gabarczyk Stream Realty 02/01/2024
Jack Gilbertson Stream Realty 02/01/2024
Torey Kiss Stream Realty 02/01/2024
Harrison Lockwood-TaylorColliers 02/01/2024
Brian Willetts Stream Realty 02/01/2024
Alex Ettinger ProEthic Building Services 01/31/2024
Jeremy White Danny White Painting, Inc 01/26/2024
Christopher Ramirez Facings of America 01/24/2024
Carly Macdonald Gray Construction 01/23/2024
Jared Jones DBSI Inc 01/12/2024
Karissa Burke SRS 01/11/2024
Alisse Caton Evergreen DevCo 01/11/2024
Sean Clifford Avoda 01/09/2024
Taylor Herro Transcend 01/08/2024
Madeline Magee Corgan 01/08/2024
Sarah Napoli Corgan 01/08/2024
Mitchell Anderson Quarles & Brady 01/04/2024
Kristen Hernandez RED Development 01/04/2024
Jennah Stanton Knight Commercial 01/04/2024
Dylan Danielson MSN Group 01/02/2024
NAME TITLE ORGANIZATION CONTACT
Tim Colquhoun Past Chair
National Bank of Arizona Tim.Colquhoun@nbarizona.com
Josh Tracy Chair Ryan Companies US, Inc. josh.tracy@ryancompanies.com
Thomas Maynard Co-Chair GPEC tmaynard@gpec.org
Jennifer VillalobosTreasurer-Secretary Cushman & Wakefield jennifer.villalobos@cushwake.com
Tino Hernandez Comms Chair Nations Group thernandez@nationsgroup.com
Lauren Lovell Comms Co-Chair CBRE lauren.lovell@cbre.com
Chris Reese Education Chair Colliers chris.reese@colliers.com
Ericka Eckblad Education Co-Chair Cushman & Wakefield Erika.Eckblad@cushwake.com
Emily Minnier Education Co-Chair JLL Emily.Minnier@jll.com
Stirling Pascal Membership Chair Stream Reality stirling.pascal@streamrealty.com
Alberto CaballeroMembership Co-Chair Western Retail Advisors acaballero@w-retail.com
Sam Spadaro MRED Chair AECOM Hunt samantha.spadaro@aecom.com
Danny Schuster MRED Co-Chair Colliers danny.schuster@colliers.com
Sydney Setnar Philanthropy Chair JLL sydney.setnar@jll.com
Bryan Wright Philanthropy Co-Chair Kimley Horn bryan.wright@kimley-horn.com
Chase Dorsett Programs Chair Newmark Knight Frank chase.dorsett@nmrk.com
Mark Cassell Programs Co-Chair Levrose mcassell@levrose.com
Pat Schrimsher Public Policy Chair Cushman & Wakefield patrick.schrimsher@cushwake.com
JohnPaul Mulhern Public Policy Co-Chair Ryan Companies US, Inc JohnPaul.Mulhern@RyanCompanies.com
Chris Beall YPG Chair Newmark Knight Frank chris.beall@nmrk.com
Joshua Shifferer YPG Co-Chair GO Industrial joshua@goindustrial.net
Ellen Boles AZ Connections Chair Deutsch Architecture Group eboles@2929.com
Shelby Gross AZ Connection Chair Dirck’s Moving and Storage sgross@dircks.com
NAME ORGANIZATION CONTACT
Tino Hernandez Nations Group thernandez@nationsgroup.com
Lauren Lovell CBRE lauren.lovell@cbre.com
Ashley Peters Sundt Construction apeters@sundt.com
Connor Devereux CoStar cdevereux@costar.com
For more information, please check out our website at https://www.naiopaz.org/developing-leaders or our Instagram page at https://www.instagram.com/aznaiop_dl/