Lease and renovation PEORIA, AZ—From a day spa with lots of chandeliers and massage tables to a 30,000-square-foot liberal arts university, the transformation is complete at 8353 W. Mariners Way. Huntington University , the Arizona Center for Digital Media Arts, is set to open its doors in the West Valley later this month. “We want to keep our millennials here and be innovative here,” says Peoria mayor Cathy Carlat . “Huntington University will provide ways to help them be entrepreneurs and use that knowledge to create their future.” Huntington University, Peoria's first stand-alone university, will offer four year bachelor of arts and bachelor of science degrees in digital media arts. The repurposed three-story building features two studios, a control room, a screening room, a 50-seat theater, editing labs, a student lounge, faculty offices and computer media labs. “The biggest challenge was to take the school's vision and get the board, the new owner, the school, the city, and the contractors and everyone involved to see that this was the right place to be,” said NAI Horizon vice president Troy Giammarco , who with associate Nathan Pancrazi , represented Glenwood Development in purchasing the property and Huntington University in its long-term lease. It was one of the largest lease deals in Peoria this year. After an economic development agreement was secured with the city of Peoria in 2015, the NAI team and school officials narrowed a list of 24 potential sites to six. “Troy was instrumental in bringing us options and personally walking us through this building and envisioning what was possible,” said HU director of operations Jeff Berggren . “We looked at about six places and had a number of options. Picking P83 was a win-win situation for the school and the city of Peoria. It's a great facility. What's neat about this space is that we were able to repurpose a lot. We did have to move some walls, but overall we were able to repurpose.” The lease site is the former Dolce Salon and Spa in Peoria's P83 entertainment district. Giammarco tells GlobeSt.com: “This was an example of the public-private partnership at work. The city of Peoria provided an economic development agreement for Huntington University to subsidize its lease and digital media arts equipment. The property, which fit the school's vision perfectly, ended up being in Peoria's new P83 enterprise zone. This incentivized the new owner to create a turnkey buildout for the university as the enterprise zone subsidized the developer's tenant improvement costs for repurposing the asset.” The Indiana-based university will offer curriculum in film production, broadcast fusion media and graphic design. Huntington University has 25 students enrolled for the fall semester and will be adding an additional 50 for the spring 2017 semester. With a year to recruit, the goal is 100 students by next fall. Associate dean of arts Lance Clark said the goal is for 350 to 400 students in the next two to four years. “The greatest satisfaction is getting a sense about this, then seeing everyone finally clutching the vision and believing it and seeing it finished. I'd like to think that as commercial brokers, we are the ultimate recyclers. We've taken something that was lost. It was a spa that never was going to do well. We've turned it into a place of higher education with a faith-based college and are helping to revitalize this area for the city of Peoria, the residents, the students and everyone else involved. It's next to the movie theater, next to the city of Peoria's entertainment district and next to the (San Diego and Seattle spring training) fields in which the students can do outdoor shooting. They can also have a collaborative relationship with the Harkins Theater,” says Giammarco. Lease and renovation PEORIA, AZ—From a day spa with lots of chandeliers and massage tables to a 30,000-square-foot liberal arts university, the transformation is complete at 8353 W. Mariners Way. Huntington University , the Arizona Center for Digital Media Arts, is set to open its doors in the West Valley later this month. “We want to keep our millennials here and be innovative here,” says Peoria mayor Cathy Carlat . “Huntington University will provide ways to help them be entrepreneurs and use that knowledge to create their future.” Huntington University, Peoria's first stand-alone university, will offer four year bachelor of arts and bachelor of science degrees in digital media arts. The repurposed three-story building features two studios, a control room, a screening room, a 50-seat theater, editing labs, a student lounge, faculty offices and computer media labs. “The biggest challenge was to take the school's vision and get the board, the new owner, the school, the city, and the contractors and everyone involved to see that this was the right place to be,” said NAI Horizon vice president Troy Giammarco , who with associate Nathan Pancrazi , represented Glenwood Development in purchasing the property and Huntington University in its long-term lease. It was one of the largest lease deals in Peoria this year. After an economic development agreement was secured with the city of Peoria in 2015, the NAI team and school officials narrowed a list of 24 potential sites to six. “Troy was instrumental in bringing us options and personally walking us through this building and envisioning what was possible,” said HU director of operations Jeff Berggren . “We looked at about six places and had a number of options. Picking P83 was a win-win situation for the school and the city of Peoria. It's a great facility. What's neat about this space is that we were able to repurpose a lot. We did have to move some walls, but overall we were able to repurpose.” The lease site is the former Dolce Salon and Spa in Peoria's P83 entertainment district. Giammarco tells GlobeSt.com: “This was an example of the public-private partnership at work. The city of Peoria provided an economic development agreement for Huntington University to subsidize its lease and digital media arts equipment. The property, which fit the school's vision perfectly, ended up being in Peoria's new P83 enterprise zone. This incentivized the new owner to create a turnkey buildout for the university as the enterprise zone subsidized the developer's tenant improvement costs for repurposing the asset.” The Indiana-based university will offer curriculum in film production, broadcast fusion media and graphic design. Huntington University has 25 students enrolled for the fall semester and will be adding an additional 50 for the spring 2017 semester. With a year to recruit, the goal is 100 students by next fall. Associate dean of arts Lance Clark said the goal is for 350 to 400 students in the next two to four years. “The greatest satisfaction is getting a sense about this, then seeing everyone finally clutching the vision and believing it and seeing it finished. I'd like to think that as commercial brokers, we are the ultimate recyclers. We've taken something that was lost. It was a spa that never was going to do well. We've turned it into a place of higher education with a faith-based college and are helping to revitalize this area for the city of Peoria, the residents, the students and everyone else involved. It's next to the movie theater, next to the city of Peoria's entertainment district and next to the (San Diego and Seattle spring training) fields in which the students can do outdoor shooting. They can also have a collaborative relationship with the Harkins Theater,” says Giammarco.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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