Giving Back
1. The Arizona Chapter of NAIOP has kicked off the second semester of partnering with Junior Achievement of Arizona to teach a course entitled “Real Estate Development and the Built Environment” to students at Gateway Early College High School. NAIOP Arizona volunteers teach students the basics of commercial real estate development, including different building types, entitlements and zoning, financing a project, putting together a team, and finding tenants.
Company News
2. Colliers announced it will acquire a controlling interest in CRE property management firm Arcadia Management Group, Inc. Arcadia’s senior leadership will retain a direct equity stake in the business and continue to drive operations going forward under Colliers’ partnership model. Arcadia will rebrand as Colliers immediately following closing. Details of the transaction were not disclosed. Arcadia provides property management, property accounting services and project management to more than 60MSF of office, retail and industrial properties in 24 states.
3. The success of a proprietary program employed by environmental compliance consulting firm Earthworks Environmental has led to the formation of a new company, ERX Industries. ERX is an environmental reporting software program that puts all aspects of environmental compliance into one program. This includes permits, inspections, and maps.
New Hires
4. Eric Mathias has been hired as VP – Commercial at FCP.
5. Josh Peters has joined Engel & Völkers Scottsdale as a Global Real Estate Advisor.
6. Geovanni Villalta has joined CRE firm IndiCap as a Senior Development Manager.
In Memoriam
7. Est Est Inc. Owner and President Tony Sutton has passed away at the age of 67. He served in those roles at the company for 38 years. Blake Sutton, Tony’s son, will take over as Owner and President.