U.S. Institutional Industrial Capital Markets Team
By: John R. Burns & Michael Kendall
introductions
Senior Vice President, Industrial Capital Markets
Phoenix, AZ
John R. Burns
Vice Chair, Industrial Capital Markets
Irvine, CA
Michael Kendall
colliers' Intent
It’s what we do — we promise to accelerate the success of our partners, clients and colleagues by delivering faster, more effective results.
Accelerating success (colliers' tagline)
It’s how we do it — we strive to deliver the best service experience. When we exceed clients’ expectations, commercially and personally, we earn their loyalty and esteem.
Memorable experiences (this drives our market position, which is service)
Expand its U.S. Institutional Industrial Capital Markets services to cover clients and assets located in the greater Phoenix MSA.
Leverage our substantial experience in the U.S. Institutional Industrial Capital Markets, with our in-depth knowledge of the Phoenix MSA's industrial markets.
Achieve growth and profitability objectives for all clients' industrial assets in greater Phoenix MSA.
Collaborative efforts with clients, ensuring individual goals and objectives are achieved and exceeded.
Share our extensive market expertise and research, allowing clients to exploit opportunities in the market.
Current Capital Market Conditions
Click the boxes to view more about each of these services
Equity
land Acquisition & pre-development
Construction Loans
Permanent Financing
• Most developers and value-add investors are being forced to ask for extensions from their lenders which require capital calls from investors for principal paydowns, replenishing interest reserves, and buying interest rate caps. • Construction loans are extremely difficult to secure given the disruption in the entire banking industry. • Non-traditional lenders have started to fill the gap in the market left by money center, regional, and local community banks. These are high “octane” (high cost) lenders willing to look at development deals. • Most Investors have put a hold on ground up industrial development given the +/-40 million RSF currently under development in the greater Phoenix market of which only +/-18% is pre-leased. Additionally, 2023’s net absorption for the entire Phoenix market was 15.9M RSF (a 40% decrease from 2022’s record year).
• Life Insurance Companies, Credit Unions, Debt Funds, and CMBS Lenders are still active. • When banks are looking at new loan requests, they are focused on existing customers with a large overall bank relationship, including deposits and other bank services. In most cases, banks have sharply reduced their lending levels. • Borrowers are having to accept lower leverage, higher interest rates, and more stringent underwriting standards (e.g., no trending of rents, significant bank deposits and influx of new equity to reduce loan balance). • The forward curve for the 10-Year Treasury does not project any downward movement (3.90% in 12 months and 4.06% in 24 months). • The Secured Overnight Financing Rate (“SOFR”) curve does show downward movement over the next 12 to 24 months (projected to be 3.74% and 3.20% respectively) meaning interest rate cap costs should decline. • Capitalization rates are more directly tied to long-term rates. Colliers expects capitalization rates to remain elevated, with continued, modest, upward pressure on the 10-Year Treasury yield.
Short Term & Permanent Financing
• It is extremely difficult to secure financing for large land acquisitions and development projects given the state of today's capital markets. • Multi-phase developments are near impossible to capitalize today given the oversupply of inventory in certain markets and certain sectors and given the demand uncertainty and carrying cost for the latter phases. • A very limited number of Investors will look at strategically located in-fill sites that are single phase development opportunities. • Select institutional investors will consider acquiring strategically located sites with the plan to hold 12 to 24 months prior to development.
Land Acquisition & Pre-development
• Most LP equity investors today are sidelined, believing there will be distressed opportunities with more attractive returns for investment in 2024. • Investors anticipate asset pricing will ease as loans mature and lenders and sellers are forced to deal with lower values and higher interest rates. • Most proposals for joint ventures have moved to preferred equity structures; and that capital is focused on existing assets. • With economic and market uncertainty, investor return expectations, investment multiples, and developer contributions have all increased. • There are plenty of active investors and plenty of capital in the market today, but they are opportunistically reviewing potential deals and scrutinizing underwriting assumptions.
Land Acquisition
Click on each to view more about each of these services
Capital Markets
Agency Leasing
Asset Sales/Dispositions
Performing like we own it
Colliers knows developable land is a developer’s Life-Blood
Conversely, land sellers can rely on Colliers to create a competitive bidding environment with capital qualified investors in today’s challenging capital environment.
• Land Acquisition and predevelopment financing • Securing institutional joint venture equity partners • Arranging construction loans • Obtaining permanent financing • Executing asset sales
Colliers Capital Market's can assist in all phases of the capital cycle, including:
This results in: • An in-depth understanding of our clients' real estate needs • Assistance through all cycles of the investment's life • Trusted underwriting & value creation through the leasing process • Supportive, in-depth market information for the sales process
Colliers takes deep pride in having a local market expertise, collaborative culture, and innovative technology tools.
• Targeted investor communication – No blind mass marketing programs • Personalized strategies for potential investors • Discussions with each and every potential investor prior to sending any information on the asset(s) • Our clients realize the maximum capitalization proceeds without over-exposure of their asset(s) This additional, personal effort immediately gauges the interest of potential investors and allows the Team to focus its energies on primary investor targets as well as provide the necessary support information to these investors.
The Phoenix-based team, along with Mike Kendall, the Co-Head of Colliers’ U.S. Institutional Industrial Capitals Markets Team, personalize each and every asset disposition assignment.
• Developing a spec industrial building and/or park today is challenging given the current capital and local market conditions. • However, this market disconnect creates opportunities for institutional and private investors with long-term investment outlooks. • Our Investment Team has decades of experience working for various developers and brings an in-depth understanding of how deals are underwritten and financed. • Our Team doesn’t just present a site, we fully underwrite a potential development deal with the goal of saving our client’s time and resources. • Our Team leverages its financial skill sets and investor contacts with the expertise of our Leasing Brokers and Land Team to uncover opportunities for our clients.
Meet the AZ Team
TEAM LEADERS / Capital Markets
Sales & sTRUCTURED eQUITY
Sales & Structured Equity
Local Market Experts
East Valley Submarket
Support team
Debt
Research - Arizona
• Phoenix Capital Markets Leader • 35-year CRE veteran • +$5B in completed capital markets transactions • Investment sales and securing institutional equity partners • 15 years on the principal/developer side of the business • Joined Colliers’ Phoenix office in September 2020 • Fun Fact: John has completed twelve marathons including Boston, Columbus, Chicago (many times), San Francisco, and the Marine Corps marathon in Washington D.C.
John Burns
Phoenix, AZ | Senior Vice President
After nearly three decades in the industry, Michael Kendall has experience in every aspect of commercial real estate, including brokerage, development, acquisitions, entitlements, asset management and construction. As Western Region Executive Managing Director of Investment Services for Colliers International, Michael and his team specialize in representing institutional owners as well as high-net-worth individuals, local entrepreneurs and private equity funds in the sale of industrial investments, including land. Having sat on the ownership side of transactions for so many years, Michael has a unique perspective relative to the needs and expectations of investors in today’s dynamic market. He is skilled at negotiating complex transactions and is well respected for his integrity and tenacity.
Industrial Capital Markets
Irvine, CA | Vice Chair
Read full bio
Robert Kline is the managing director of Debt and Structured Finance for the Southwest Region of Colliers, based in the Phoenix office. He specializes in capital and finance efforts for the company across the Southwest and beyond. Robert brings extensive experience in institutional debt, equity, and refinancing and restructuring, which is invaluable to Colliers’ professionals and clients. His deep product and market knowledge, along with a proven collaborative work style, enable him to be an immediate and significant addition to Colliers’ capital markets capabilities and overall platform. As a demonstrated leader in his field, Robert provides Colliers with the strength of extensive relationships with capital markets and lenders, as well as wisdom and insights about the financial markets.
Debt & Structured Finance
Robert Kline
Phoenix, AZ | Managing Director
• Provides leading-edge, thought-provoking reserach and analysis of market data. • Highly experienced in interpreting complex data sets using the latest technology. • Leverages market research intelligence and insights for thought leadership content strategy. • Prior to joining the Colliers team, he served as a GIS Analyst and Business Analyst for CBRE. • Fun Fact: Before entering the CRE field, Phil was a swimming instructor for 3 years.
Research Department
Phillip Hernandez
Phoenix, AZ | Research Director
• Delivers in-depth analysis of current market conditions and trends for brokerage professionals and their clients. • Prepares data and background narrative information for market reports, publications and proposals
Andrei Sirota
Phoenix, AZ | Research Specialist
Don MacWilliam has been a commercial real estate professional since 1986, specializing in industrial real estate leasing and sales in the Southwest Valley distribution market throughout his career. Services include tenant representation and agency listings from many major developers, such as Merit Partners, ProLogis, EastGroup Properties, First Industrial Realty Trust, Sun State Builders, Exeter Properties, Sun Life Assurance, Majestic Development and CapRock Partners.
Payson has been in commercial real estate since 1986, specializing in industrial leasing and sales in the Southwest Valley distribution market. Services include tenant representation and agency listings from many major developers, such as Merit Partners, ProLogis, EastGroup Properties, First Industrial Realty Trust, Sun State Builders, Exeter Properties, Sun Life Assurance, Majestic Development, City of Tolleson and CapRock Partners. As an Executive Vice President with Colliers in Arizona, Payson partners with Don MacWillliam and Chris Reese. Their top-producing industrial team provides exceptional service and strategic solutions to its clients, representing both landlords and tenants.
Landlord Representation, Tenant Representation
Payson MacWilliam
Phoenix, AZ | Executive Vice President
Don MacWilliam,
As senior vice president of Colliers Mortgage Advisory Services, John Smeck is responsible for building and managing the debt and equity platform in Arizona and assisting with the build-out of the platform in the West. Working with owners and buyers of commercial real estate, John determines the optimal capital structure for an asset and scrutinize capital markets on behalf of clients to obtain the best possible execution for the debt and/or equity needed. Having provided debt and equity for well over $2 billion in commercial transactions, clients rely on John to: (a) develop the optimal capital structure for commercial real estate assets, (b) locate the most competitive debt and/or sources for that structure, and (c) negotiate the best terms and structure for the transaction.
John Smeck
West Valley Submarket
Rob Martensen is an Executive Vice President with Colliers and has specialized in the metro Phoenix industrial market for 24 years. His industrial expertise includes single and multi-tenant building lease and sales, land sales, build-to-suits, ground-up speculative developments, and landlord and tenant representation. Rob is an expert in analyzing market conditions, with a precise knowledge of current lease rates and values. Leveraging his knowledge of current and future market trends with Colliers’ exceptional research capabilities, he ensures clients are able to make smart, profitable and informed real estate decisions.
Rob Martensen,
Phoenix, AZ | Senior Executive Vice President
As a senior executive vice president with Colliers, Paul Sieczkowski has been negotiating industrial real estate transactions in the Phoenix area since 1986. He leads a top-producing industrial team that includes Justin Sieczkowski, senior associate; and Mallory Wayne, associate. Paul and his team specialize in the leasing of industrial facilities; land sales to developers and users; build-to-suit facilities for sale or lease; and the sale of single and multi-tenant industrial facilities (investment properties).
Landlord Representation, Tenant Representation, Capital Markets
Phoenix, AZ | Senior Executive Vice-President
Paul Sieczkowski,
CCIM, SIOR
SIOR
All statistics are for 2021, are in U.S. dollars and include affiliates
$4.5B
Revenue
(USD)
66
Established in
Countries
$146B
Transaction Value
51,000
Lease/Sale Transactions
$98B
Assets Under Management
19,000
Comprised of
(Professionals)
2B
Managing
(Square Feet)
Colliers Global Stats
View Colliers Industrial Global Stats
Transaction Specialists
• Member of the Kline-Burns Team • Senior Associate responsible for overseeing due diligence and analytical functions • Specializes in capital markets and debt and equity solutions in the industrial, multi-family, and land sectors • Member of NAIOP and involved with The First Tee, a mentoring program that empowers young individuals through golf and life
Investment Properties Specialist
Alec miller
Phoenix, AZ | Senior Associate
• Financial analyst for the Debt & Equity Finance team for the Southwest Region • Brings an extensive background in multifamily agency debt and underwriting of commercial real estate across all asset classes • Works directly with the borrowers and lenders to ensure all the transaction’s latest information, communications, and documentation are provided on a timely basis • Member of NAIOP, Urban Land Institute, and CREW
Financial Analysis
Alix Hanna
Phoenix, AZ | Financial Analyst
• Director of Western Region Investment Services • Specializes in the representation of institutional clients in the acquisition and disposition of industrial properties throughout the Western United States • Leads the team’s underwriting and financial analysis from the initial Opinion of Value through the Close of Escrow • Responsible for investor interfacing and marketing strategy execution of all properties marketed by Colliers’ Institutional Investment Services Group
Gian Bruno
Irvine, CA | Senior Vice President
senior vice president
Colliers has a highly experienced and seasoned team of capital markets and leasing professionals driven to exceed your expectations. Colliers’ goal is to tap into and harvest this collective intellectual firepower for your company/organization's benefit. Colliers' U.S. Institutional Industrial Capital Markets Team will leverage its national relationships and local knowledge on every Phoenix transaction. Each assignment will have a senior member of the team as the client's primary point of contact to collaborate, ensure clear communication, and provide accountable results.
Harvesting Colliers' intellectual firepower
Meet the Colliers U.S. Industrial Capital Markets Team
Phoenix, AZ | Capital Markets
• Leads the Industrial Capital Markets Team for the Western US • The only Industrial Member of the National Colliers Capital Markets Advisory Board • 30-year CRE veteran • $5.5B in completed capital markets transactions in the past 5 years and over $20B during his career • Joined Colliers in 2018, based in Irvine, CA after 7 years with CBRE – National Partners team • Spent 16 years on Principal/Developer side of the business • Mike will consult on, and participate in, the sale of industrial assets • Fun Fact: Mike has completed the Arizona Ironman Triathlon 3 times
Vice Chair
Irvine, CA | Industrial Capital Markets
• Chicago Industrial Capital Markets Specialist • 26-year CRE veteran • Specializes in investment sales of Class A and B industrial properties in Chicago and the greater Midwestern US, ranging in value from $5M to $500M • Joined Colliers in 1995 • Received the 2019 NAIOP Industrial Investment Transaction of the Year Award for brokering the sale of the Fountain Square Commerce Center in Bolingbrook
Principal
Jeffrey Devine
Chicago, IL | Industrial Capital Markets
Steven Disse
Click on a photo to view bio.
• Denver Industrial Product Specialist • 23-year CRE veteran • Specializes in the industrial sector including land acquisition, agency leasing and tenant representation • Joined Colliers in 1997 • TJ will provide market intel, spear-head site searches and provide agency leasing services
TJ Smith
Denver, CO | Industrial Leasing
• Chicago Industrial Capital Markets Specialist • 29-year CRE veteran • Specializes in investment sales of institutional quality industrial and office properties in Chicago and the Midwest ranging in value from $5M to $300M • Joined Colliers in 1991 • Received the 2019 NAIOP Industrial Investment Transaction of the Year Award for brokering the sale of the Fountain Square Commerce Center in Bolingbrook
NATIONAL DIRECTORS
MARKET LEADERS
All statistics are for 2023, are in U.S. dollars and include affiliates
Training and mentoring several successful junior commercial agents at top tier global brokerage firms. Provided real estate strategy services for two of the top 10 billionaires on the Forbes 100 List [Armancio Ortega and James Simons]. Highest grossing Associate globally 2010 (@CW). Advised blue chip corporate clients in the negotiations of real estate transaction for both Landlords and Tenants with completed transactions in FL, MD, DC, VA, NY, PA, NJ, MA, CA, TN, TX, IL, CANADA. Excelled in a high growth technology based real estate platform - WeWork.
Executive Managing Director
Jason Lund
New York, NA | Market Leader
• Inductee. Colliers Everest Club ― recognizing the top 10% of brokers across the Americas region (based on sales volume) 2019 • Recipient. NAIOP-Indy Chapter, Broker of the Year Award, Capital Markets Team 2018 • 4-Time Recipient. Top Producer Award, Colliers Indianapolis 2020, 2019, 2018, & 2016 • Recipient. Enterprise Award, Colliers Indianapolis 2012 • Past President. Developing Leaders – NAIOP of Indiana
vice president
Alex Cantu
Indianapolis, IN | Capital Markets
As Director of Western Region Investment Services for Colliers International, Gian specializes in the representation of institutional clients in the acquisition and disposition of industrial properties throughout the Western United States. Gian leads the team’s underwriting and financial analysis from the initial Opinion of Value through the Close of Escrow. Gian is also responsible for investor interfacing and marketing strategy execution of all properties marketed by Colliers’ Institutional Investment Services Group.
Los Angeles, CA | Capital Markets
As the Senior Vice President for Colliers’ Investment Services Group in Minneapolis-St. Paul, I lead my team to success through proven processes. My team focus is mainly on industrial, office, medical-office, and single-tenant net lease; both locally and nationally.
Sr. Executive Vice President
Mark Kolsrud
Minneapolis, MN | Capital Markets
Boston
Chicago
Denver
Indianapolis
Los Angeles
Minneapolis
Las Vegas
Irvine
New York
Phoenix
Tampa
Ryan Vaught joined Colliers in 2018. His real estate practice focuses on consulting with industrial developers and investors throughout the country. • 2020 #1 Colliers Producer - State of Florida • 2020 Connect Media Top Broker - Florida • Colliers Everest Club | Top 10% Producer | Multi-year • Costar PowerBroker Award | Multi-year • 2018 Winner – Best Ind. Deal of the Year – DHL/IKEA Dist. Center – NAIOP • 2018 Winner – Best Dev. Project of the Year – Key Logistics Center - CREW
executive managing director
Ryan Vaught
Tampa, FL | Industrial Services
Mr. Petz joined Colliers International in 2019 and serves as managing director of investment sales within the Capital Markets team. He brings with him deep experience in the disposition of core trophy assets, as well as a diverse mix of urban/suburban, office, industrial, life science, and land development assets. • 131 Dartmouth Street, Boston | $315M • FedEx, Boylston, MA | $94M • Hayden Research Park, Lexington | $245M • NorthPoint/Cambridge Crossing, Cambridge/Somerville | $295M • 125 Summer/745 Atlantic, Boston | $392M • Fenway Centre Development, Boston | $260M
Executive vice president
Frank Petz
Boston, MA | Managing Director Investment Sales
Orlando
Michael Blunt is a senior capital markets professional with over 25 years of experience in commercial real estate and more than $12 Billion of transactions closed. His clients include insurance companies, advisors, private equity investors, REITs, lenders, special servicers, and major corporations. • 22001 Loudoun County Parkway - $212.5M • Exeter Class A Core Portfolio - $190M • Keystone Industrial Port Complex - $167M • 1750 K Street, NW - $115M • Hillwood I-81 Core Portfolio - $92M • TJX Distribution Center - $90M
Michael Blunt
Washington, DC | Capital Markets and Investment Sales
Washington DC
As Executive Vice President in the Industrial Division of Colliers International, Dan has over 31 years of experience in industrial property brokerage and has been one of the top 3producers in the Las Vegas Office for the past 20 years. Dan is experienced in all phases of industrial real estate including site selection, development and design, user sales, leasing and investment sales. Doherty Industrial Group (DIG) at Colliers International has a combined 70+ years of experience marketing industrial real estate properties in the Las Vegas Valley and during the past 24 - months the team has brokered over 6.1M square feet of industrial property. Our clients include Panattoni, Prologis, TA Associates, Matter Real Estate Group, Juliet Properties, EJM Development, Becknell, Link, Invesco, EastGroup, Caprock, Black Creek, MCA Realty, and RC Willey Home Furnishings to name a few.
Executive Vice PresidenT
Dan Doherty
Las Vegas, NV | Industrial
Joe Rossi, CCIM, is the Executive Managing Director of Investment Services at Colliers International in Central Florida, leading Colliers’ Capital Markets platform with a focus on industrial, office, flex and medical properties throughout the State of Florida. Joe, a 28-year veteran, is a highly-regarded professional within the Florida real estate investment markets and has established a vast network of investors and financial contacts. Joe has spent the majority of his professional career working extensively to represent institutions, private equity, individual investors, and owner/operators to procure the best possible outcome for their acquisition/disposition needs. Joe provides expert guidance and advisory services to his clients throughout all stages of their ownership cycle including asset management, portfolio analysis, sale advisory and consulting.
executive Managing Director
Joe Rossi, CCIM
Orlando, FL | Capital Markets
Colliers Office Locations
Click on the location icons to view more about each Colliers success story.
Colliers has sold in excess of $35 billion (U.S. sales only) of industrial product during the past 30-month period. This includes properties in every primary and secondary market around the country. Additionally, Colliers has secured more than $5 billion of structured equity for various development projects. This map highlights a number of recently completed Colliers’ industrial capital markets assignments.
Proven Success
Date of Transaction — February 2022 Location — Waukegan, IL Total RSF — 1,437,857 RSF $ Size of Transaction — $149,750,000 Type of Transaction — 9 Building Industrial Portfolio Sale Name of Client — PGIM Real Estate
Amhurst Lakes Industrial Portfolio
Space Park East, Nashville
Ameriplex Industrial Center
Date of Transaction — June 2022 Location — Indianapolis, IN Total RSF — 244,622 RSF $ Size of Transaction — $26,925,000 Type of Transaction — Investment Sale Name of Client — Clarion Partners
Date of Transaction — June 2022 Location — Magna, UT Total RSF — 328,000 RSF $ Size of Transaction — $57,728,000 Type of Transaction — Forward Sale Name of Client — Invesco Advisors
2215 Logistics Center
Date of Transaction — November 2021 Location — Commercial Point, OH Total RSF — 1,022,380 RSF $ Size of Transaction — $93,000,000 Type of Transaction — Investment Sale Name of Client — VanTrust Real Estate
Bath & Body Works Fulfillment Center
Date of Transaction — November 2021 Location — West Jordan, UT Total RSF — 300,000 RSF $ Size of Transaction — $60,000,000 Type of Transaction — Freezer/Cooler Stablized Sale Name of Client — Tom Stuart Partnership
Misfits Market/Dannon Way Industrial
Date of Transaction — December 2020 Location — Philadelphia, PA Total Acres — 1,800 AC $ Size of Transaction — $167,000,000 Type of Transaction — Development Site Sale Name of Client — U.S. Steel Corpration
Keystone Industrial Port Complex
Date of Transaction — October 2021 Location — Chantilly, VA Total RSF — 100,000 RSF $ Size of Transaction — $23,000,000 Type of Transaction — Investment Sale Name of Client — Strategic Capital Partners
Northridge at Westfields
Date of Transaction — February 2021 Location — Lanham, MD Total RSF — 160,000 RSF $ Size of Transaction — $29,650,000 Type of Transaction — Investment Sale Name of Client — Freeman
9900 Business Parkway
Date of Transaction — December 2021 Location — Glendale, AZ Total Acres — 75 AC Type of Transaction — Land Acquisition for Spec Development Name of Client — The Pizzuti Companies
To-be Developed 1,123,360 RSF Spec Building
Date of Transaction — March 2022 Location — Glendale, AZ Total Acres — 160 AC Type of Transaction — Land Acquisition for Development Name of Client — Nestlé
To-be Developed $675 million Manufacturing Facility
Date of Transaction — October 2022 Location — Charlotte, NC Total RSF — 154,920 RSF $ Size of Transaction — $20,300,000 Type of Transaction — Investment Sale Name of Client — Collett Industrial
Airport 85 Business Center
Date of Transaction — October 2022 Location — Gaffney, SC Total RSF — 1,033,169 RSF $ Size of Transaction — $80,500,000 Type of Transaction — Investment Sale Name of Client — Hart Consumer Products, Inc.
Gaffney Distribution Center
Date of Transaction — June 2022 Location — Greenville, SC Total RSF — 519,480 RSF $ Size of Transaction — $54,545,400 Type of Transaction — Investment Sale Name of Client — Collet Industrial
Willimon Business Park
Date of Transaction — June 2022 Location — Jacksonville, FL Total RSF — 320,000 RSF $ Size of Transaction — $38,260,000 Type of Transaction — Investment Sale Name of Client — PanAm Development
Lane Industrial Park
Date of Transaction — April 2022 Location — Ruskin, FL Total Acres — 20.28 AC $ Size of Transaction — $9,000,000 Type of Transaction — Land Sale Name of Client — Levelan
South Shore Corporate Park
Date of Transaction — November 2021 Location — Clearwater, FL Total RSF — 203,500 RSF $ Size of Transaction — $20,000,000 Type of Transaction — Debt Placement Name of Client — Blue Steel Development
14480 & 14550 62nd St N
Date of Transaction — March 2021 Location — Chester, VA Total RSF — 302,644 RSF $ Size of Transaction — $31,500,000 Type of Transaction — Debt/Equity Placement Name of Client — Red Rock Developments
Meadowville Industrial
Date of Transaction — February 2022 Location — Spartanburg, SC Total RSF — 282,000 RSF $ Size of Transaction — $28,482,000 Type of Transaction — Investment Sale Name of Client — SunCap Properties
Hillside 290
Date of Transaction — August 2022 Location — Nashville, TN Total RSF — 413,750 RSF $ Size of Transaction — $57,500,000 Type of Transaction — Investment Sale Name of Client — Stonelake Capital Holdings
Date of Transaction — December 2020 Location — Phoenix, AZ Total Acres — 183 AC Type of Transaction — Land Acquisition for Spec Development Name of Client — CapRock Investors
To-be Developed 3,400,000 RSF Industrial Park
Date of Transaction — June 2022 Location — Jurupa Valley, CA Total Acres — 211,000 SF $ Size of Transaction — $100,685,000 Type of Transaction — Investment Sale Name of Client — James York
10855 Philadelphia Avenue
Date of Transaction — June 2022 Location — Everett, WA Total Acres — 240,500 SF $ Size of Transaction — $58,735,000 Type of Transaction — Investment Sale Name of Client — Capstone PF2 LLC
11404 Commando Road West
Date of Transaction — September 2022 Location — Lakewood, SC Total RSF — 118,218 RSF $ Size of Transaction — $21,100,000 Type of Transaction — Investment Sale Name of Client — Berkeley Partners
Academy Downs Business Center
Date of Transaction — May 2022 Location — Plainfield, IN Total RSF — 262,758 RSF $ Size of Transaction — $36,625,000 Type of Transaction — Investment Sale Name of Client — Washington Capital Mgmt
Gateway Industrial V
Date of Transaction — June 2022 Location — West Sacramento, CA Total Acres — 229,130 SF $ Size of Transaction — $40,096,500 Type of Transaction — Investment Sale Name of Client — Ridge Capital Inc
Southport Business Park Bldg G
Date of Transaction — August 2022 Location — Las Vegas, NV Total Acres — 135,000 SF $ Size of Transaction — $35,300,000 Type of Transaction — Investment Sale Name of Client — GKT II LLC
6405 Ensworth Street
Date of Transaction — June 2022 Location — Eden Prairie, MN Total RSF — 130,000 RSF $ Size of Transaction — $26,000,000 Type of Transaction — Investment Sale Name of Client — Opus
Golden Triangle Corporate Center
Date of Transaction — September 2022 Location — Oconomowoc, WI Total RSF — 1,093,756 RSF $ Size of Transaction — $119,500,000 Type of Transaction — Investment Sale Name of Client — Pabst Farms Development
Kroger (Roundy's) Distribution Center
Date of Transaction — June 2022 Location — Spanish Fork, UT Total RSF — 1,094,353 RSF $ Size of Transaction — $90,600,000 Type of Transaction — Investment Sale Name of Client — CF Companies Inc
Western Distribution Center
Date of Transaction — July 2022 Location — Fontana, CA Total RSF — 111,180 RSF $ Size of Transaction — $58,166,585 Type of Transaction — Investment Sale Name of Client —Molto Properties
13508 Marlay - Building B
Date of Transaction — October 2022 Location — North Las Vegas, NC Total Acres — 730,771 RSF (6-building portfolio) $ Size of Transaction — $143,000,000 Type of Transaction — Investment Sale Name of Client: SunCap Property Group & Diamond Realty Investments
SunPoint West Industrial Park
A centralized infrastructure enables Colliers to deliver a comprehensive suite of services consistently across all regions.
This is the essence of Colliers’ brand – it defines our people and therefore our company. It means taking the initiative, thinking creatively and using our collective expertise to structure innovative and collaborative ideas which allows Colliers' to maximize both potential and success.
Collaborative & Entrepreneurialism (colliers' brand essence)
clear accountability
integrated services
Local Market Expertise
Why Colliers?
thank you
Colliers’ Phoenix-based U.S. Institutional Industrial Capitals Markets business is designed around providing industry-leading, fully integrated investment and financing services to its clients. Colliers is truly a one-stop shop as its capital markets professionals can assist its clients in all phases of the capital cycle including: • Land acquisition and predevelopment financing • Securing institutional joint venture equity partners • Arranging construction loans • Obtaining permanent financing • Executing asset sales These capital markets business lines are more fully delineated in the following section.
Capital markets
ASSET SALES/dispositions
land Acquisition
The professionals within Colliers Industrial services Group take deep pride in their respective local market expertise, collaborative culture, and innovative technology tools. Here's how Colliers is set apart from the competitors: • In-depth understanding of our clients’ real estate needs • Assitance through all cycles of the investment’s life • Trusted underwriting and value creation through the leasing process • Supportive, in-depth market information for the sales process Colliers’ Phoenix-based U.S. Institutional Industrial Capitals Markets Team utilizes its entrepreneurial and collaborative team to support its clients’ decision making and business objectives with the goal of accelerating its clients’ successes and maximizing its clients’ profits.
Colliers' Phoenix-based professionals will leverage the expertise of the industrial leasing broker, the Land Team, and their own market knowledge to uncover every conceivable opportunity in the market. As important, the Phoenix-based team, along with Mike Kendall, the Co-Head of Colliers’ U.S. Institutional Industrial Capitals Markets Team, personalize each and every asset disposition assignment. • Targeted investor communication • Personalized strategies for potential investors • High level return on assets This additional, personal effort immediately gauges the interest of potential investors and allows the Team to focus its energies as well as learn and provide the necessary support information the individual investor requires.
Asset
Colliers’ Phoenix-based U.S. Institutional Industrial Capitals Markets’ professionals will leverage their own local market knowledge with the industrial leasing brokers expertise as well as the Land Team to ensure it is uncovering every conceivable opportunity in the market. • Colliers Phoenix knows land acquisition and has one of the top Land Teams in the market • Value-add developer assistance • Land acquisitions can also drive all other aspects of business Conversely, land sellers can benefit from Colliers extensive knowledge of the active and soon-to-be-active developers to create an aggressive bidding environment, ensuring sellers realize maximum proceeds from any sale.
(The Developer’s Life-Blood)
Agency leasing
(sales/dispositions)
Colliers’ Debt and Structured Equity Experienced
land Acquisition & predevelopment
construction LOANS
permanent FInancing
equity
The Team completed seven Land Acquisition Loans in the past 24 months. These loans ranged from $7 to $89 million. The lenders required guarantees on the loans which included entitlement risk; guarantees were released as entitlements were achieved.
Land Acquisition Loans
Most Acquisition Loans and initial equity components included funding for pre-development dollars.
Predevelopment Loans
Lenders range from national and regional banks, to debt funds. $2.8 Billion: Construction loans placed in the last 24 months. $9-$550 Million: Range of loan amounts. 61%: Average LTC Ratio, with terms ranging from 36-48 months, plus extensions. 100%: Non-recourse to the buyer. 71: Average days to closing
Industrial & Multi-family constitute the bulk of these financings. $1.4 Billion: Permanent financing placed over the last 24 months. $37 Million: Average loan size. 75%: Maximum LTV. 5-15: Terms in years for construction/mini permanent loans. 7-15: Terms in years for industrial products.
In the past 24 months, Colliers’ Capital Markets Team has secured joint venture partners for its clients with total equity raised exceeding $___ billion. These equity commitments have been utilized for development projects and acquisitions.
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MI
IN
IA
IL
MO
KS
VT
NY
NH
ME
RI
NJ
MA
CT
PA
Current market for industrial development
Pizzuti's active & Target markets
Click on the location icons to view more about each market.
Target market for multi-family development
Future target market for multi-family development
Future target market for industrial development
Salt Lake City, UT
CBD apartment development
Chicago, IL
Target market for industrial development
Recently completed a CBD luxury hotel
Nashville, TN
Indianapolis, IN
Denver, CO
Cincinnati, OH
Current market for multi-family product
Columbus, OH
Existing hotel product
Existing office product
This map represents Colliers’ understanding of the Pizzuti’s target markets. These are markets in which Pizzuti has an interest in developing product; some are markets where Pizzuti has already developed product and others are future target markets.
(including Northern Kentucky)
Louisville, KY
Meet the AZ Industrial Capital Markets Team
Click here to View Colliers' Global Stats
dEBT & sTRUCTURED eQUITY
Industrial
LEASING SPECIALISTS
East Valley Team
35-year CRE veteran. +$5B in completed capital markets transactions. Joined Colliers’ Phoenix office in 2020. Will coordinate efforts between Replay and Colliers. Will be directly accountable to Replay. Fun Fact: John has completed twelve marathons including Boston, Columbus, Chicago (many times), San Francisco, and the Marine Corps marathon in Washington D.C.
Michael Kendall has experience in every aspect of commercial real estate, including brokerage, development, acquisitions, entitlements, asset management and construction. Having sat on the ownership side of transactions for so many years, Michael has a unique perspective relative to the needs and expectations of investors in today’s dynamic market. He is skilled at negotiating complex transactions and is well respected for his integrity and tenacity. Bachelor of Arts in History with a Business Emphasis, University of California, Los Angeles. Member of the Southern California chapter of the Commercial Real Estate Development Association (NAIOP), and previously served as president for the association in the Inland Empire.
Executive Managing Director, Inv Servs WR
Los Angeles, CA | NAIOP
Multi-Family Research Specialist for the Southwest Region. Senior member of the Cooke Multi-Family Team. Tom will provide market, locational, demographic, and economic trend analyses for multi-family projects in the Southwest Region. Fun Fact: Tom and his wife ar.e avid geologists and own a mine in Arizona.
Research Director
Thomas Brophy
Phoenix, AZ | Multi-Family Specialist
Provides leading-edge, thought-provoking reserach and analysis of market data. Highly experienced in interpreting complex data sets using the latest technology. Leverages market intelligence and insights for thought leadership content strategy. Prior to joining the Colliers team, he served as a GIS Analyst and Business Analyst for CBRE. Fun Fact: Before entering the CRE field, Phil was a swiming instructor for 3 years.
Research Manager
Phoenix, AZ | Research
Delivers in-depth analysis of current market conditions and trends for brokerage professionals and their clients. Prepares data and background narrative information for market reports, publications and proposals
Research Specialist
John Archer
Leads the local Arizona marketing team, supports brokerage in pursuit strategies and presentation structure and leads creative execution of in-suite marketing and promotional materials. Has more than 14 years of marketing & design experience. Prior to joining Colliers, he served as Graphic Designer at Kidder Matthews.
Provides creative design and marketing solutions for brokerage professionals in support of business development. Is responsible for developing property brochures, websites, signage, logos, promotional materials, company collateral, and custom email marketing.
Senior Graphic Designer
Danyale Breckenridge
Phoenix, AZ | Local Marketing
All statistics are for 2019, are in U.S. dollars and include affiliates
$3.5B
68
$129B
70,000
$33B
18,000+
Colliers global stats
Justin Whiteaker
Executive Managing Director, Inv Servs WR, NAIOP
Los Angeles, CA
License # 01895979
Mike Kendall
applicable Service lines
Colliers offers a broad range of services; some of which Pizzuti has utilized in various markets around the country. Along with specializations in industrial, multi-family and land leasing, Colliers' team of experts also specialize in capital markets, landlord representation, real estate investment, property positioning and marketing, market research and location intelligence and much more.
Our goal is to make this a more collaborative effort between the Pizzuti and the Colliers team with the goal of adding real value to Pizzuti’s growth and profitability objectives. In Pizzuti’s case, these efforts begin with land acquisition which, properly implemented, collaborates with local market and product knowledge as well as research and capital markets expertise.
