March Airpark Briefs

March Airpark Briefs

Design firm launched by local childhood friends

RedRover Living founder Barbara Hallum

Special to Scottsdale Airpark News | RedRover Living founder Barbara Hallum

Arizona natives and childhood friends Barbara Hallum and Robert Shields have partnered to launch RedRover Living, an interior and landscape design firm based on an innovative, pay-as-you-go model.

The duo says the design talent available in the Scottsdale Airpark area has been a well-kept secret. So Shields closed his East Coast design firm after 25 years to return to Arizona and join forces with Hallum, who brings her business background to the partnership.

RedRover Living founder Robert Shields

Special to Scottsdale Airpark News | RedRover Living founder Robert Shields

Hallum and Shields say they opened RedRover Living in January to bring high quality and affordable interior and landscape design services to Scottsdale.

“We are very proud to offer a new business model to the consumer when hiring a designer by providing complete billing transparence, pay-as-you-go, and designer discounts on purchases,” Shields says.

Hallum claims Scottsdale is a prime place for a design business. “Scottsdale has been my home for many years,” she says, “so opening a business based here was an obvious choice because Scottsdale Airpark is an amazing resource and our center for design.”

Gregory Gillis named to AAA’s arbitrators and mediators roster

Gregory Gillis has been named an arbitrator and mediator on the Construction and Commercial Roster of Arbitrators and Mediators of the American Arbitration Association. Gillis, a founding shareholder of Nussbaum, Gillis and Dinner, has practiced law for more than 25 years and specializes in construction, commercial, real estate and bankruptcy litigation in Arizona. Gillis has received recognition from his peers and distinctions including being named in the annual “Best Lawyers in America” publication.

Toys & Playtime Oasis opens in Scottsdale Towne Square

Toys & Playtime Oasis hosts activities including exercise time, special needs play dates and “Munch Bunch with Grandparents.”

Special to Scottsdale Airpark News | Toys & Playtime Oasis hosts activities including exercise time, special needs play dates and “Munch Bunch with Grandparents.”

Toys & Playtime Oasis, a combination toy store and activity center for children, has opened in a new location inside Scottsdale Towne Square. Formerly known as The Doll House & Toy Store, the business was renamed when owners Sari and Sam Powazek introduced a play area. Designed specifically for kids ages five and younger, the Playtime Oasis includes games, puzzles, jungle gyms, trampolines and more. Parents and grandparents are encouraged to participate in play time. Monthly calendars include activities such as ball sports, arts and crafts sessions and play dates for children with special needs.

The Powazeks are self-professed “Arizona toy experts,” but their new business includes some young R&D – the couple’s 6-year-old twin grandsons, who function as “toy testers” for the store’s wide variety of products.

“We’re very excited about our beautiful, new space inside Scottsdale Towne Square because we’ve designed it to be the perfect play area to entertain and delight the age 5 and under crowd,” Sari Powazek says. “This shopping center has so many wonderful businesses specially designed for children – AZ Air Time, Sportball, Musicology, and Modern Milk – we’re thrilled to be a part of it.”

YAM Capital hires Craig Cacheris as finanical analyst and portfolio manager

Craig Cacheris has been named financial analyst and portfolio manager at YAM Capital.

Special to Scottsdale Airpark News | Craig Cacheris has been named financial analyst and portfolio manager at YAM Capital.

YAM Capital, a private real estate bridge lender with a specialty in short-term commercial real estate financing, has hired Craig Cacheris as financial analyst and portfolio manager.

Cacheris brings four years of experience in the financial sector, including a background in analysis, underwriting and accountancy. He holds a bachelor’s in business from Trinity University, and a master’s in accountancy from Arizona State University. Previously, Cacheris worked as a tax accountant for Edwards, Largay, Mihaylo & Co. and later as a financial analyst for Spirit Realty Capital.

“I am thrilled to join the team at YAM Capital,” Chacheris says. “The tight-knit group here works together to achieve its goal of providing creative lending solutions and I am excited to contribute to the organization’s success.”

Cacheris is a current member of the Urban Land Institute and commercial real estate development association NAIOP.

Russo and Steele Auctions increase sales over last year by seven figures

1954 Mercedes-Benz 300 S Cabriolet A – $423,500.00

Special to Scottsdale Airpark News | This 1954 Mercedes-Benz 300 S Cabriolet A sold for $423,500.00

Russo and Steele Collector Automobile Auctions increased its sales during this year’s event to more than $22 million with 780 lots offered and 606 sold. That’s a seven-figure increase over 2016 sales, the company says.

Some of the most notable sales include:

  • 1954 Mercedes-Benz 300 S Cabriolet A, sold for $423,500
  • 1973 Ferrari Dino 246 GTS Spider, sold for $379,500
  • 1969 Ford Mustang Boss 429, sold for $335,500
  • 2006 Ford GT, sold for $261,750
  • 2006 Mercedes-Benz McLaren SLR, sold for $253,000

“Once again, our team has brilliantly demonstrated that our segment within the current collector car marketplace is highly robust, that true enthusiasts confidently perceive this and that they recognize Russo and Steele’s position as the resounding market leader within that segment,” Russo and Steele CEO Drew Alcazar says. “This year, with our move to our incredible, long-term, new home at Salt River Fields at Talking Stick, the enthusiasm captured by Russo and Steele has never been higher.”

Indoor skydiving lands in Scottsdale

iFly Phoenix is the newest of iFly’s 28 operations in the United States.

Mackenzie Keller/OH Partners | iFly Phoenix is the newest of iFly’s 28 operations in the United States.

iFly has opened an indoor skydiving facility on Talking Stick Way in North Scottsdale, which will give people a chance to experience skydiving without having to jump out of an airplane. The new indoor facility creates conditions that allow people to freefall and fly on a cushion of air. The new location is the company’s 28th nationwide.

“Our mission is to deliver the dream of flight to everybody, whether you’re age three or 103,” says Matt Ryan, president and COO of iFly. “Since 1998, more than eight million customers worldwide have experienced human flight at iFly in a variety of ways. Thanks to iFly, flying is finally available to everyone.”

To prepare for the experience, customers complete a training class with proper equipment guided by iFly’s safety instructors. All flight packages include training, flight gear and time with an International Bodyflight Association-certified instructor.

Tuft & Needle opens Scottsdale location

Tuft & Needle founders JT Marino and Daehee Park moved to Phoenix from Silicon Valley to launch their startup business in 2012.

Brooke Medansky/Tuft & Needle | Tuft & Needle founders JT Marino and Daehee Park moved to Phoenix from Silicon Valley to launch their startup business in 2012.

Phoenix-based Tuft & Needle has opened its third location, in the building formerly occupied by The Dirty Drummer.T&N purchased the Scottsdale property for $1.1 million in December 2015, after opening its flagship Phoenix location and a San Francisco outpost.

“We’re excited about this location,” JT Marino, co-founder of Tuft & Needle, says. “Our brand has continued to show very strong demand in Arizona and we’re happy that we can make our product more accessible to a new part of the Valley.”

The new location will have four semi-private rooms with queen-size Tuft & Needle mattresses and two lounge areas. There will also be local products displayed including candles from Standard Wax, tea jars from Teaspressa and sugar cubes from Cake Ruse.

Marino and business partner Daehee Park founded Tuft & Needle in 2012 after leaving tech jobs in Silicon Valley. The business now employs 140 people and reported $140 million in revenue in 2016.

Scottsdale Horizon apartments purchased for $51 million

Scottsdale Horizon Apartments has one- and two-bedroom units for rent, ranging from $847 to $1,316 per month.

Special to Scottsdale Airpark News | Scottsdale Horizon Apartments has one- and two-bedroom units for rent, ranging from $847 to $1,316 per month.

San Diego-based real estate investor and operator MG Properties Group has purchased the Scottsdale Horizon Apartments for $51 million.

“Our ownership of similar properties in the Phoenix market provided us with operating efficiencies and strong market knowledge,” MGPG Chief Investment Officer Paul Kaseburg says. “Scottsdale Horizon’s location in North Scottsdale provides access to high-quality jobs and excellent retail options. We are excited to add this property to our portfolio.”

Built in 1986, the apartments feature one and two-bedroom floor plans with full-size washers and dryers, 9-foot ceilings and 22-foot vaulted ceilings in select units. The property is located in North Scottsdale with easy access to the 101 Freeway and Scottsdale Airpark.

Boulders Resort & Spa named ‘Best of State’

Travel + Leisure magazine has announced the winners of its readers’ survey of best hotels in each state and they selected Boulders Resort & Spa the “Best Hotel in Arizona.”

According to Travel + Leisure, “Whether you’re driving through amber plains or exploring a new city, these award-winning hotels won’t let you down. Fresh off a multi-million dollar renovation in 2015, it’s no surprise that our readers voted the Boulders Resort the No. 1 in Arizona.”

Boulders general manager Howard Harris says,“We continue to preserve our rich history and our surrounding desert environs to provide our guests with an authentic Arizona experience. We couldn’t be more pleased with this recognition.”