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© Copyright 2017 by MP Media, LLC

Broker Team of the 

MONTH

A HISTORY OF SUCCESS

 

Chase Tower. Arizona Center. Desert Ridge Marketplace. 
SkySong. What could all these properties possibly have in 
common? Besides redefining commercial real estate in the 
Valley, they’ve all been in the hands of one team. 

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 The word 

visionary often comes to mind when describing this fivesome. 
Their unique ability to find potential for investors in properties 
where returns were not immediately visible has led them to 
close on a number of high-profile deals in the Phoenix metro 
area. Their bets have paid off with an enviable track record 
that spans decades and $5 billion in property sales to-date. 

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 One property where the value wasn’t so straightforward 

is SkySong, Arizona State University’s Innovation Center at 
McDowell and Scottsdale roads. 

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 “For SkySong, we were 

really selling the ASU brand,” Brabant says. “At the time, 
this part of Scottsdale was looked over for being older and 
less redeveloped, and a number of investors who came to see 
the property couldn’t envision an office market.” 

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  Brabant 

ultimately credits the support from ASU President Dr. Michael 
Crow with SkySong’s success as a mixed-used innovation 
campus. 

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 “This was an incredible opportunity for both 

the seller and buyer to reshape this section of the city and 
become part of Scottsdale history,” Smigiel says. “Now, 
SkySong has grown to include multifamily housing, retail 
and office space. The area’s unrecognizable, and we’re lucky 
to have had a role in that transformation.” 

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 Desert Ridge 

Marketplace was another property that defied expectations 
due to its location. 

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 “When we sold a 50 percent interest in 

Desert Ridge, the shopping center was on the edge of Phoenix 
at the time,” Brabant says. “It ended up spurring the creation 
of a new district that continues to expand to this day.” 

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The team also had a role in the sale of the tallest, largest 
office building in Arizona. Chase Tower sold for $166.9 
million in 2007, the highest price paid for an office building 
in Phoenix at the time. 

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 And perhaps even more remarkable,  

the team completed the sale of the Arizona Center for $136.5 
million during one of the most challenging times in recent 
market history.

“Broker Team of the Month” Glenn Smigiel, Robert Young, 
Steven Brabant, Richard Abraham and Marian McFarlane are 
committed to serving their clients and expectations. It’s safe 
to say the team is excited about the future. 

“The Phoenix market has done an exceptional job of bouncing 
back from the economic downturn,” Smigiel says. “Our 
recovery has been stronger than anybody expected, and we 
don’t anticipate any storm clouds on the horizon.” 

In case you didn’t know...

CBRE’s Phoenix office is 
moving from Tower III to 
Tower IV of the iconic 
Esplanade in the Camel-
back Corridor.
  
The move is part of its
global “Workplace360” 
initiative, the company’s 
leading-edge approach 
to workplace strategy 
designed to promote 
flexibility, mobility and 
productivity through 
technology-enabled, 100 
percent free-address and 
paperless offices. 

The Phoenix office, which 
will house 470 employees, 
will be the largest of 
CBRE’s “Workplace360” 
offices globally.