PHOENIX-When David Krumwiede, executive vice president for Lincoln Property Co., came across a two adjacent West Valley industrial buildings, he knew the project would interest his brother, Craig Krumwiede, president and director for Harvard Investments.

Although Harvard has traditionally specialized in master planned residential communities, it wanted to diversify its portfolio, David tells Globe St.

The two brothers have worked in real estate for a combined 60 years, but had never completed a deal together. Craig's career has focused on residential land development, and David's in commercial.

“Craig and I have always had our own distinct niches in the real estate industry, and it's great to be able to combine our real estate expertise and work together on a project,” David says. “It was fun.”

Craig adds, “We were both influenced by our father, who worked for Del Webb here in the Valley.”

The two properties, totaling 100,000 square feet, are located at the northwest corner of 35^th Avenue and Washington Street, in the active southwest valley industrial submarket. The first property, a vacant 57,000-square-foot building, is being marketed for lease or sale.

Lincoln is renovating the property, including building a 2,500-square-foot spec office space, which David says will increase the property's marketability. “The spec office suite is a great way to create a ready, set, go space for a tenant so they can move in quickly.”

Other renovations include a new roof, repaving and restriping the parking lot, landscaping upgrades and new paint schemes.

The second building is occupied by California-based Express Furniture Rental, which serves the temporary housing industry.

Harvard plans to continue investing in commercial real estate, and David says the two companies will collaborate again, with Lincoln providing construction, leasing and property management services.