Newmark Grubb Knight Frank (NGKF) announces that DM Ventures I, LLC, the owner of 2005 E. Indian School Road in Phoenix, recently leased 24,797 square feet of prime office space to Christ’s Church of the Valley, Inc. (CCV). The home of Leslie’s Pool Mart retail store and headquarters, the award-winning project was a renovation of a vacant Sam’s Club into a light, productive and creative re-use complex. Jerry Jacobs and Steven Callahan, both with NGKF, represented DM Ventures, I, LLC on the transaction.
“The Camelback East Village neighborhood is steadily expanding its footprint into a larger development area,” explained Jerry Jacobs, executive managing director at NGKF. “The Leslie’s Pool Mart retail store was an early stimulus for this neighborhood renovation. Employment, housing and retail in the neighborhood are increasing, and we expect this growth to continue.” The renovation of 2005 E. Indian School Road won the NAIOP Best Redevelopment Project of the Year in 2015 for its adaptive reuse of the previously occupied Sam’s Club. With the addition of CCV, the project will be 100% occupied.
When complete, the Indian School Road campus will mark the seventh location for CCV. “We’re excited to further reach this Valley through the addition of the Midtown Phoenix campus,” said Andrea Sing, Director of Communications. “We are dedicated to positively impacting our communities by strengthening and connecting families.”
With more than 25,000 people currently attending 25 services at its six campuses each weekend, CCV is the largest non-denominational church in Arizona and one of the largest churches in the United States. In April 2011, CCV began its multi-site strategy by opening a second campus in Surprise. They have since opened additional campuses in Anthem, Avondale, Mesa, Scottsdale and, soon, Phoenix. CCV offers practical messages relating to everyday life, and provides children’s programs with hands-on fun; all campuses offer identical services for children through adults each weekend.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.