After building a business relationship and closing deals together for about a decade, two experienced commercial brokers have formed a new Phoenix brokerage.
Rommie Mojahed and Andy Kroot are partners in the newly formed CRE8 Commercial Real Estate, which launched earlier this month. The two have a strong background in retail and land deals, which Mojahed said will be at the firm’s core. But the two will monitor market dynamics and pivot as they see fit.
Kroot has been running his firm for the past six years. Before launching his namesake firm, Kroot & Associates, in 2017, Kroot spent seven years at Velocity Retail Group and 12 years at De Rito Partners, according to his LinkedIn page.
Mojahed came over from SVN | Desert Commercial, where he specialized in deals throughout the Southeast Valley. He is joined by three former teammates of his Desert Commercial teammates at CRE8: Lindsey Dulle, Eddie Gonzalez and Chad Shipley. The firm isn’t in a hurry to bring on additional brokers right away, but Kroot and Mojahed said if there’s a good fit, they’d be interested in growing the team.
Kroot and Mojahed said the idea to form their brokerage came about six months ago after meeting for lunch. After catching up with one another, the two realized they’d be good partners and they were ready for an opportunity to work with one another. Collectively, the two have five decades of experience working in commercial real estate.
“The opportunity to go off on your own is scary, but [I made the move to be] a part of something where I can get to grow organically. … It’s aligning with groups that are aligned with us and our morals,” Mojahed told the Phoenix Business Journal. “It was just a natural fit.”
CRE8 will operate out of the former Kroot & Associates’ office space at 4102 E. Indian School Road in Phoenix’s Arcadia neighborhood. The office will undergo a minor renovation to accommodate the five-person team.
Kroot and Mojahed landed on the name “CRE8” because it was a nod to their business strategy of coming up with creative solutions for their clients as well as a play on words with “CRE” being a common abbreviation for “commercial real estate.”
When asked about the memorable deals they’ve put together over the years, Mojahed highlighted new retail development in Queen Creek. Kroot pointed to helping double the store count of Ono Hawaiian BBQ. Kroot has also worked with Mastro Restaurant Group, Fox Restaurant Concepts, Frasco Hospitality Group, and other fast-casual restaurants to find new space over the years.
“As we go into the next cycle, I believe we will be more well-equipped as a team,” Kroot said in a statement. “I have held other positions and partnerships in this business and then went on my own for the last seven years but think a like-minded, team approach and collaboration is going to be a footprint to success for us as well as our clients.”