NB|AZ helps local real estate development company accomplish its goals
Over the past 30 years, commercial real estate specialist Gary Brown has built 24 successful shopping centers and coordinated the development of about 6 million square feet of retail space.
He established his own company, Brown Group, Inc., in 1997 “to put myself in a position to be a larger equity owner in future retail development projects. Fortunately, the calculated gamble paid off.”
In the beginning, his company focused on developing strip shopping centers located near malls. But in the past five years, Brown Group has transitioned to developing grocery-anchored shopping centers. Brown developed two brand-new Fry’s Food Stores locations that opened recently in Sun City West and Yuma.
The Sun City West store opened last August in the same spot as the Sundome, a famous entertainment venue for 34 years. Brown and his team were determined to incorporate some of the Sundome’s design elements into the new Fry’s store, he said, including lighting and arches at the store’s entrance. Inside, the store pays homage to the auditorium ambience of the Sundome.
The Yuma Fry’s store opened in 2011 across the street from an aging Fry’s store that had outgrown available square footage. Brown built a new Fry’s across the street from the existing one so the square footage could be doubled. “Our ability to foresee population growth, locate the best sites available and construct high-quality retail centers is insight derived from decades of development experience,” Brown said.
His and the company’s relationship with National Bank of Arizona and real estate banker Matt Leivian has been responsible for a significant portion of his success, he said. “We count on NB|AZ to deliver a lending solution for a proposed retail development, no matter how complex,” Brown said. “National Bank of Arizona’s clear decision-making and open communication have enabled Brown Group to deliver development projects in difficult times, cementing our reputation with retailers for delivering results.”
Story by Debra Gelbart | Photography by Mark Lipczynski