Types of Investments

In April of 2013, Gabel Investments, Inc. and investors acquired approximately 40 acres at the NWC of Higley and the Loop 202. The group additionally acquired the 1.76 acre freeway corner from ADOT in an auction held in September of 2013. Gabel and investors sold the 40 acres to American Leadership Academy in December 6, 2016.

In February 1998, Gabel Investments, Inc. and investors purchased 54 net acres of land zoned C-2 in the City of Surprise. The purchase price included options on 54 acres of additional land across the street. Located at the NWC of Bell Road and Grand Avenue, the site was acquired for speculative purposes, however, was later developed as a retail Power Center.

Surprise Towne Center
In February 1999, Wal-Mart purchased a 20 acre parcel and construction of off-site improvements for the project were commenced. The Power Center was subsequently named Surprise Towne Center. In August of 1999, a 10-acre parcel at Surprise Towne Center was sold to Home Depot and the remaining 24 acres were planned for 235,000 SF of junior anchors, pads, and shops.

Surprise Marketplace
In January 2000,the Surprise partnership exercised options to purchase a total of 54 acres of C-2 zoned vacant land adjacent to Surprise Towne Center at the SWC of Bell Road and Grand Avenue. In February Home Depot opened its 107,000 SF store and in May Wal-Mart opened its 225,000 SF Super Center store and offsite improvements were completed. In June, Surprise Towne Center, L.C. commenced construction of 105,000 SF of retail buildings including OfficeMax, Michael’s, PetsMart, shops and pads. In September of 2000, the group sold Target Corporation a 10-acre parcel of the 54-acre option site. Target commenced construction on its 126,000 SF building in November and opened in July 2001. The 54-acre parcel at the SEC of Bell and Grand was named Surprise Marketplace and in April 2001, Lowe’s Home Improvement Centers purchased a 12-acre parcel.

Lowes opened their 137,000 S.F. building and plans were made to construct approximately 200,000 s.f. of Majors, Shops & Pads at Surprise Marketplace. Additionally, future plans were considered for the 10-acre site at the South West Corner of Bell & West Point Parkway. The first “Major” suite at Surprise Market Place was leased to Bed, Bath & Beyond in March while Barnes & Nobel executed a lease in November for Major C. The remaining “Major” lease suites were under negotiation (Ross Dress for Less and Ulta Cosmetics).

Westpoint Towne Center
This 10 acre parcel was acquired in January of 2000 as part of the 54 acre Surprise Marketplace transaction. The first subsequent land sale occurred in 2003. Cobblestone Auto Spa acquired 2.5 acres. In 2005, AVB Builders/Sprouts Farmers Market purchased the southern most 5.070 acres of the 10 acres at the SWC of Bell and West Point Parkway. The remaining 2.4 acres were ground leased to US Bank and Chili’s.

Developments Sold
On July 6, 2006, Gabel and his Investors sold Surprise Towne Center and Surprise Marketplace to ING Clarion Partners. Gabel and Investors retained 4 ground leases, (Olive Garden, Red Lobster, Chili’s and US Bank). On February 25, 2011, Gabel and his investors sold the 4 remaining Ground Leases.

In August 1997, Gabel Investments, Inc. and investors acquired approximately 15 acres located at Pima Road and Downing Olson Drive in North Scottsdale. The raw land parcel had 1,450 SF of Pima Road frontage, access with a traffic signal and was zoned I-1 which allows development of office/medical and light industrial uses. The site was ultimately sold to a developer in August 1998.

In November 1996, Gabel Investments, Inc. and investors acquired approximately 25 acres of C-2 commercially zoned land at the NEC and NWC of Val Vista and Williams Field Roads in Gilbert, Arizona. The raw land was acquired from a subsidiary of U.D.C. Homes. The commercial corners are part of “Gilbert Ranch”, a 678-lot master planned community developed by Continental Homes. The infrastructure improvements commenced construction in May 1997. Burger King purchased a 60,000 SF parcel for the northwest corner. The 60,000 SF NEC pad sold in February 1998 to Diamond Shamrock for a gas/convenience store.

In January 2000, a Gabel partnership sold 5 acres of vacant land at the NEC to a self-storage developer, leaving 17.63 acres free and clear. Desert Dogs/Weiner Schnitzel purchased a 0.91-acre pad on the NEC of Val Vista and Williams Field Road, while Classic Car Spa purchased the remaining 2 pads (2.5753 acres) at the NEC. The Forum at Gilbert Ranch purchased the remainder 11.66 acres at the NWC of Val Vista and Williams Field Roads. The Forum is an office condo/retail project.

In September of 1995, Gabel Investments, Inc. and investors acquired 4.0997 acres at the NEC of Guadalupe and Cooper Roads in Gilbert, Arizona. Gabel rezoned the site from R.C.C. to C-1 & R.C.C. receiving the final site plan approval in December. The 50,000 SF corner parcel was sold to ARCO AM/PM in April 1996. The remaining 2.95 acres were sold in 2004 to the Camelback Companies.

In June 1995, Gabel Investments, Inc. and investors paid cash for 4.0174 acres at the NWC of Power and University in Mesa, Arizona. The C-2, vacant parcel was then planned for four commercially zoned pads. The corner 40,000 SF pad was sold to Diamond Shamrock in August 1996. An additional lot was sold in May 1997 to car wash.In June 1998 a sale was closed with a Famous Sam’s restaurant franchisee. The last remaining pad was sold in February 2001.

In September 1994, Gabel Investments, Inc. and investors acquired a 4.2-acre, C-3 zoned vacant commercial corner in Mesa, Arizona at the SEC of Higley and McKellips. The 40,000 SF corner was sold 11 months later to Diamond Shamrock. Diamond Shamrock is a New York Stock Exchange firm operating gas and convenience stores and refineries throughout the country. In May of 1998 the partners sold a 56,200 SF parcel adjacent to Diamond Shamrock to Advanced Tire & Auto. The final 72,000 SF parcel of land was sold to Arby’s in July 2000.

In 1993, Gabel Investments, Inc. and investors participated in a joint venture partnership with Evergreen Development Company to develop two separate Walgreen Drug Stores.  The first project in Gilbert commenced in December of 1993 and was sold in August of 1994. The second Walgreens was developed in Kingman, AZ, commencing in November of 1993 and was sold in May of 1995.

In September 1995, Gabel and investors acquired five acres in Southpark Business Center in Chandler and agreed to co-venture the development of an 83,000 SF speculative industrial back-office building with Hewson Properties, Inc. of Phoenix. A year after the acquisition of the land and upon completion of the Hewson Properties construction, the Southpark building was sold to Sumitomo Bank of New York and simultaneously leased to First Data Resources for use as a credit card data processing center. The transaction was completed on September 24, 1996.  Additionally, the investors owned a one-acre lot in close proximity to the subject building.  The lot was subsequently sold during July 1997.

In March of 1997, Gabel Investments, Inc. and investors entered into a joint venture relationship to develop a 16,000 SF office building in Sun City West. The building was 42% pre-leased to A. G. Edwards, a national brokerage firm. The development partner provided the development expertise and was the sole guarantor to the construction loan. The building improvements were completed in August 1997. Piper Jaffrey was secured as a second anchor in December 1998. The building was sold in February 1999.

In March of 1992, Gabel Investments, Inc. and investors acquired a land banking opportunity with Continental Homes.  Continental was one of the largest homebuilders in the State of Arizona. They are now owned by D.R. Horton.  The site was a raw land parcel located in Mesa, Arizona.  Continental planned to build 129, 70′ x 100’ lots for entry-level homes.  In that transaction the group invested based on a 28-month time line (an 18 lot/qtr. takedown requirement).  The project was successful; Continental paid the group off in 10 months (January 27, 1993).

In December of 1994, Gabel Investments, Inc. and investors acquired 180 single-family lots from Continental Homes.  The transaction was part of a 30-lot-per-quarter rolling option agreement.  Continental acquired all 180 lots by December of 1995, six months prior to the required completion date.

In November of 1996, Gabel investments, Inc. and investors acquired 66± acres of residential land from Kaufman and Broad of Arizona. The parcel was located at the NWC of Signal Butte and Broadway in Mesa, Arizona. The Investors optioned the land back to K&B under a rolling option agreement. K&B completed construction of the lot improvements for 328 lots. K&B acquired 50 lots per quarter and completed the lot purchases in August of 1998.