As the 2024-2025 Chapter President, and on behalf of the entire Southern Arizona CCIM Chapter Board, I am honored to welcome you to this year’s Forecast event. We are excited to begin 2025 with this premier gathering, bringing together industry experts to share valuable insights into the everchanging commercial real estate landscape.
The past few years have brought significant shifts in our market, both locally and globally. Some sectors are experiencing strong growth, while others face new challenges.
ISAAC FIGUEROA, CCIM, SIOR Southern Arizona CCIM Chapter President 2024-2025
With the election behind us and potential interest rate adjustments on the horizon, now is a crucial time to assess where our local market stands and what may lie ahead. This Forecast aims to provide commercial real estate professionals with the clarity and knowledge needed to navigate the industry in 2025 and beyond.
This year, I am proud to co-lead the Forecast alongside President-Elect Erik Chapman, CCIM. With the support of our dedicated Forecast Committee, we have assembled an outstanding lineup of leading commercial real estate professionals who will share their expertise across four key industry panels: Industrial, MultiFamily, Office, and Retail.
We are also honored to welcome back Lawrence Yun, Chief Economist for the National Association of Realtors, as our keynote speaker. His expert analysis and ability to synthesize key economic trends will provide invaluable context for today’s discussions. We extend our sincere gratitude to Lawrence and all our panelists for taking the time to share their knowledge with us.
A Special Thank You to Our Sponsors
This event would not be possible without the generous support of our sponsors. Their commitment allows us to provide high-quality programming that serves and strengthens our local real estate community. Please take a moment to review our sponsor list and consider partnering with them on your next project. If your company is interested in sponsorship opportunities, please contact Louisa Higgins, Executive Director, at southernaz@ccim.net.
Stay Connected in 2025
The Southern Arizona CCIM Chapter has an exciting year ahead, featuring A-list speakers and timely industry topics at our monthly luncheons, held on the second Tuesday of each month. We also have a variety of networking events and educational opportunities to help you grow in your career. Your SAZ CCIM membership includes the only commercial real estatefocused CE courses in town, held directly after our luncheons and taught by the engaging and knowledgeable Pat Sheahan.
For those interested in pursuing the prestigious CCIM designation, we are pleased to announce that our Designation program will resume in January 2026 with CI 101.
Thank you for joining us today. We look forward to a fantastic year ahead and to seeing you at future CCIM events!
BOARD OF DIRECTORS BOARD OF DIRECTORS BOARD OF DIRECTORS
ISAAC FIGUEROA, CCIM, SIOR PRESIDENT LARSEN BAKER LLC
ELAINA CARBO, CCIM TREASURER LARSEN BAKER LLC
CODY MCGUIRE, CCIM REGION 2 VP CROSSFIRST BANK
JULIAN WILLETTS, CCIM RE/MAX COMMERCIAL
ERIK CHAPMAN, CCIM, CPM PRESIDENT ELECT CHAPMAN MANAGEMENT
GARY HEINFELD, CPA, CCIM DIRECTOR OF FINANCE ADVISORS IN REAL ESTATE, INC.
KAITLYN SUMP SECRETARY BOURN COMPANIES
FINFROCK, CCIM COMMERCIAL RETAIL ADVISORS
TOMLINSON CUSHMAN WAKEFIELD | PICOR
ERIN LEED, CCIM AERIE DEVELOPMENT
ROBERT
RYAN HALL CBRE
CRAIG
GEORGE ANDROS, CCIM ANDROS PROPERTIES
NORWOOD CUSHMAN & WAKEFELD | PICOR
2023 Michelle Goldberg, CCIM
2022 Cody McGuire, CCIM
2021 Cody McGuire, CCIM
2020 Terry Lavery, CCIM
2019 Gary Andros, CCIM
2018 Craig Finfrock, CCIM
2017 Melissa Lal, CCIM
2016 Greg Boccardo, CCIM
2015 Brandon Rodgers, CCIM
2014 James Robertson, CCIM
2013 David Blanchette, CCIM
2012 Howard Kong, CCIM
2011 Mike Trueba, CCIM
2010 Debbie Heslop, CCIM
2009 Gary Heinfeld, CCIM, CPA
2008 Andy Seleznov, CCIM
2007 Paul Rosado, CCIM
2006 Mark Biery, CCIM
2005 Laurie Weber, CCIM
2004 Bob Benedon, CCIM
2003 Bob Benedon, CCIM
2003 Tari Auletta, CCIM
2002 Tari Auletta, CCIM
2001 Margaret Larsen, CCIM
2000 Keith Levine, CCIM
1999 Daniel Wesson, CCIM
1998 Edward Johnson, CCIM
1997 Juan Teran, CCIM
1996 Mark C. Irvin, CCIM, SOIR
1995 Jason Wong,
1994 Lance Parsons, CCIM
1993 James B. Marian, CCIM
1992 Art Wadlund, CCIM
1991 Gary T. Best, CCIM, ABR
1990 Robert Glaser, CCIM, SOIR
1989 Paul Lindsey, CCIM
1988 Mary Lee Greason, CCIM
1987 Swain Chapman, CCIM
1986 George Larsen, CCIM CCIM, LEED AP, CDP
CONVENTIONAL LOANS
• Available for owner- and non-owner
SBA 7(a) & 504 LOANS
• Available for purchases or refinances of: occupied properties
Owner-occupied real estate
• Acquisition, refinance & construction loans
• No pre-payment penalties
• Competitive rates & fees
• Amortization up to 30 years*
• Up to 10-year terms with 5-year rate adjustments
Business acquisitions
Equipment
Partner buyouts
Franchises
• Featuring fixed and variable rates
• Terms up to 25 years
CCIM DESIGNEES FOR OVER 20 YEARS
CCIM DESIGNEES FOR OVER 20 YEARS
CCIM DESIGNEES FOR OVER 20 YEARS
George Larsen, CCIM (1982)
Swain Chapman, CCIM (1985)
Susan Ong, CCIM (1986)
Rob Glaser, CCIM (1986)
Jason Wong, CCIM (1990)
James Marian, CCIM (1990)
Mark Irvin, CCIM (1992)
Juan Teran, CCIM (1992)
Derrick Sinclair, CCIM (2000)
Craig Finfrock, CCIM (2001)
Laurie Weber, CCIM (2001)
Gary Heinfeld, CCIM (2003)
Greg Boccardo, CCIM (2004)
James Robertson, CCIM (2005)
LAWRENCE YUN
National Association of Realtors
Chief Economist
Lawrence Yun is Chief Economist and oversees the Research Group at the NATIONAL ASSOCIATION OF REALTORS®. Dr. Yun creates NAR's forecasts and participates in many economic forecasting panels, among them the Blue Chip Council and the Wall Street Journal Forecasting Survey. He also participates in the Industrial Economists Discussion Group at the Joint Center for Housing Studies of Harvard University. He appears regularly on financial news outlets, is a frequent speaker at real estate conferences throughout the United States, and has testified before Congress. Dr. Yun has also appeared as a guest on CSPAN's Washington Journal.
INDUSTRIAL MODERATOR
BRANDON RODGERS, CCIM
Owner & Managing Director
Torch Properties, LLC
Prior to forming Torch Properties in 2020, Brandon spent nearly 15 years as a Principal of Cushman & Wakefield | PICOR and before that, as an Associate with CBRE, both in the Tucson, AZ, market. Brandon’s area of focus was industrial property brokerage in the Tucson Metro area. He provided both landlord/seller as well as tenant/buyer representation services, and served both national firms as well as regional and local businesses.
Brandon is a native Tucsonan with a family background in commercial real estate and has been active in the commercial real estate field since 2004. Prior to his commercial real estate career, Brandon worked in the customer-facing roles of project manager and IT consultant for firms such as Arthur Anderson and Hitachi Consulting. Brandon’s real estate career, as well as his IT Consulting career, have earned him high praise from his clients, and he is known for his strong work ethic and active client relationships.
INDUSTRIAL PANELIST
Principal
Cushman & Wakefield | PICOR
Proud Tucson native, Jesse Blum, joins Cushman & Wakefield | PICOR’s market-leading industrial team. Blum has focused his entire career in industrial real estate brokerage in southern Arizona. Following a distinguished academic path within Economics and Regional Development, his professional pursuits began at Grubb & Ellis in 2008, followed by over seven years with CBRE. To carve a niche within a competitive environment, Blum combined his analytical training with market dynamics to provide unique insights and opportunities for his clients. Providing best case outcomes for both owners and users has propelled Blum to become a perennial top tier producer.
Blum specializes in large scale and long-term positioning for real estate ownership, site selection and competitive analysis for users, and disposition of investment properties in greater Tucson. He prides himself on aligning his success with that of his clients.
INDUSTRIAL PANELIST
S A nt
Schnitzer Properties
Steven Nemer serves as Assistant Vice President at Schnitzer Properties, where he oversees leasing, acquisitions, and development in Tucson. With a proven track record in commercial real estate, Steven has successfully leased 4 million square feet of commercial space, acquired 500,000 square feet of office and industrial properties, and developed 600,000 square feet of new projects. He holds degrees in Accounting and Finance from Oregon State University.
MULTI-FAMILY MODERATOR
MICHAEL SARABIA
Principal, CEO & Designated Broker
DSW Commercial
Michael A. Sarabia, CEO of DSW Commercial, developed and implemented DSW’s investment platform and strategy in the western United States. Prior to this investment platform, Michael worked on ground-up commercial real estate development with expertise in entitlement and construction. His extensive knowledge and experience in pre-development and due diligence have been a valuable asset in underwriting targeted investments.
Michael brings a “hands-on” approach to this course of action. Michael’s ability to identify market voids and conduct in-depth feasibility studies, coupled with his understanding of area demographics, is the cornerstone of DSW Commercial. He has the experience necessary to navigate the complex equity and financing components of acquisitions. Michael is a graduate of the University of Arizona, a licensed broker in the state of Arizona, a member of the Southern Arizona Leadership Council (SALC), and a member of the International Council of Shopping Centers (ICSC).
J Principal
Cushman & Wakefield | PICOR
Joey Martinez joined Cushman & Wakefield | PICOR’s multifamily brokerage team in October 2019. Since joining the team, Joey and his partner, Allan Mendelsberg, have closed over $350,000,000 in sales transactions. Joey has an in-depth approach to his business which includes developing long-term relationships with clients and phenomenal communication. Martinez is a graduate of New Mexico State University with a major in marketing and a minor in the PGA of America Professional Golf Managements Program.
Prior to joining PICOR, Joey spent four years in a golf career which included playing professionally in the United States, Europe, Canada, Mexico, and Latin America, and competing in over 80 professional events. He enjoys spending time with his wife (Tori) and son (Grady) and friends and family. During his free time, Joey loves golfing, pickleball, hunting & hiking, and traveling. On the philanthropic side, Joey devotes significant time to serving as a board member for Empower Coalition Inc., a Tucson-based nonprofit that supports veterans, active-duty military, and their families in Southern Arizona.
MULTI-FAMILY PANELIST
HAMID PANAHI
Senior Vice President
Institutional Property Advisors
Hamid started his career with Marcus & Millichap in 2004 as an intern. In 2005, Hamid earned the firm’s Sales Achievement Award and Top First Year Agent award for the Arizona offices. In 2013, he joined the David-Gebing group with a focus on Multifamily assets in Tucson and the surrounding tertiary markets. To date, he has closed over $3 billion in sales.
With a thoughtful approach to the investment sales business that transcends the boundaries of a single transaction and taps into the human element of relationships, Hamid is a brokerage professional who evokes action by influence, with a low-profile approach and center of gravity that demands attention to clients’ objectives over self-service. Preparation for each assignment and Hamid’s forward-thinking ability, combined with evident problem-solving skills, consistently produce outsized results and repeat business.
OFFICE MODERTAOR
, M, SIOR
Managing Member
Mark Irvin Commercial Real Estate Service LLC
Mark Irvin has been involved in the commercial real estate industry for most of his adult life. He has over 40 years of commercial real estate experience in consulting, development, and brokerage.
He has been involved in commercial real estate in Tucson since 1983 and moved there full-time in 1986. Mark was one of the original founding partners for PICOR but left in early 1995 to create his own firm that focuses exclusively on office, medical, and investment real estate.
Mark holds professional designations as both a Certified Commercial Investment Member (CCIM) and an Office Specialist with the Society of Industrial and Office Realtors (SIOR). He was the first office and medical specialist in Southern Arizona to hold both distinguished designations and has done so for over 30 years. He has been licensed in the state of Arizona as a Real Estate Broker since 1989.
OFFICE PANELIST
JON O'SHEA
Designated Broker/Director of Sales and Leasing
Vast Commercial Real Estate
Jon O’Shea is a highly experienced real estate broker, consultant, and developer in Southern Arizona, serving as Designated Broker and Principal of Vast Commercial Real Estate Solutions, LLC, and an active Partner in Cube Developers, LLC, a development and consulting firm.
In 20 years of real estate brokerage, property management, development, new home sales, and development, Jon has personally completed over 600 real estate transactions. Jon also serves philanthropically as the president of the Empower Coalition, which supports charities that serve veterans, those in active duty, and their families in Southern Arizona.
He spends free time with his wife Asha and two sons in sports and hobbies and enjoys flying his airplane whenever the weather cooperates!
OFFICE PANELIST
Vice President
Paul Ash Commercial Real Estate
John has lived in Tucson since 1974. In 1990 he graduated Magna Cum Laude from the University of Arizona where he double majored in Real Estate and Finance. John started his real estate career immediately out of college with Tucson Realty & Trust Company and became a top producer within three years. He joined Romano Real Estate Corporation in 1996 to head its Commercial Brokerage division.
In 2000, John began working with David Carroll and quickly saw the benefits of working as a team in order to provide his clients with better service than he could offer on his own. John and David have now worked together for over 20 years and have completed over 1,400 transactions during that span. They have both been recognized as industry leaders in the office and retail sectors. John and David both moved to Paul Ash Commercial Real Estate in September of 2024 to lead their Commercial Brokerage division.
RETAIL MODERATOR
NANCY MCCLURE
First Vice President
CBRE
Nancy McClure is a veteran commercial real estate professional at CBRE specializing in retail expansions across Tucson and Southwest Arizona. Known for her deep market insight and exceptional client results, she excels in transforming properties into premier retail destinations and guiding clients from site selection to store openings.
Nancy is a recognized industry leader who actively participates in professional and charitable organizations while frequently sharing her expertise through media and speaking engagements. Her achievements include being honored as Most Influential Woman of Arizona by AZBigMedia, “Woman of Influence” by Inside Tucson Business, and earning multiple Top Producer awards at Tucson CBRE, among others.
Ben Craney is a seasoned commercial real estate professional with extensive expertise in retail and restaurant leasing, landlord and tenant representation, and shopping center development. With over two decades of experience in the industry, Ben currently serves as the Managing Member, Associate Broker, and Branch Manager at NAI Horizon Tucson.
Ben’s career highlights include leadership roles at West Commercial, LLC, Bourn Companies, and Shenkarow Realty Advisors. Prior to transitioning to commercial real estate, Ben honed his skills in engineering sales and management at companies such as Texas Instruments and K&L Microwave.
Ben is an active member of the International Council of Shopping Centers (ICSC) and is committed to fostering strong landlord relations with prominent companies such as Weingarten Realty, Phillips Edison & Company, and Larsen Baker.
RETAIL PANELIST
RICK VOLK
President Volk Company
Rick grew up in Tucson, leaving to attend the University of California at Santa Barbara where he graduated magna cum laude in 1979. He joined the retail department of Coldwell Banker Commercial in 1980, leaving to form Volk Company in 1987.
Having trained a number of agents while at Coldwell Banker, he realized that there was a better way to serve clients, utilizing a consistent training and mentoring program to achieve a true team approach. Rick takes an active role, utilizing his 44 years of experience to guide and support the process. His extensive background, which includes new developments, ranging from strip centers to neighborhood centers to power centers, investment sales, tenant representation including comprehensive market strategies, restaurants, build-to-suits, and all other facets of retail real estate, has helped him to build an experienced and successful team that achieves or exceeds client goals.
Industry research shows CCIM Designees significantly outperform nondesignated CRE professionals across key metrics, including compensation.
