Monday, December 1, 2014

Shopoff Realty Investments Acquires Mission Valley Office Building in San Diego, CA

William Shopoff
IRVINE, CA, Dec. 1, 2014 – Shopoff Realty Investments announced today that the company has acquired a 71,450-square-foot office building in San Diego’s Mission Valley, located at 2650 Camino Del Rio North.

“This office property is well-located within the thriving Mission Valley office market, which boasts a 92 percent office occupancy rate,” said William Shopoff, CEO of Shopoff Realty Investments.

“An excellent value-add opportunity, we acquired this asset for $156 per foot, which is well below market comparables which average nearly $200 per foot. Our strategy is to reposition the building through renovations and increasing occupancy.”

The three-story, Class B-plus office building is located just off the interchange of Interstates 805 and 8. Currently 75 percent leased, major tenants include Kaiser Foundation Health Plans and U.S. Colleges.

Adjacent to DeVry University and the U.S. Post Office, the building is approximately 1.4 miles from Fenton Marketplace, home to a variety of national retail stores, including Starbucks, IKEA, Costco and USAA Financial Center.

David Placek
“This office building has been undervalued in the marketplace and provides a rare opportunity to transform a property in the popular Mission Valley office market,” said David Placek, head of Shopoff Realty Investment’s Income Property Division. “We have already received a great deal of interest from potential tenants.”
Shopoff Realty Investments has a 22-year history of over 100 programs and 430 investments, of which more than 400 have gone full cycle with an average holding period of 2.7 years. 

Shopoff Realty Investments and its executive leadership have completed more than 5,000 real estate transactions, including the acquisition, management, entitlement and development of more than 10,000 parcels and lots, 50,000 multi-family units, and 5 million square feet of commercial properties, with an aggregate value in excess of $4 billion.

 For additional information, please visit or call (844) 4-SHOPOFF.
 For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703

HFF named to market for sale Class A office tower in Dayton, OH

Kettering Tower, 40 North Main Street, Central Business District, Dayton, OH

Ken Martin
INDIANAPOLIS, IN – HFF announced today that it has been named to market for sale Kettering Tower, a 495,558-square-foot, Class A office tower in Dayton, Ohio’s central business district.

               HFF is marketing the offering on behalf of the seller, Dunkirk Realty, Ltd. 

               Kettering Tower is situated on a two-acre site at 40 N Main Street visible from Interstate 75 in Dayton’s central business district. 

The 30-story property is across from the Schuster Performing Arts Center and within blocks of the Dayton Regional Transit Authority hub, Great Miami River Recreational Trail and the Dayton Convention Center. 

Originally built in 1971, Kettering Tower was most recently renovated in 2012 and is leased to tenants including JPMorgan Chase, The Dayton Racquet Club, Rogers & Greenburg, Thorn Lewis + Duncan, and Pickrell Schaeffer & Ebeling, all of which have resided at the property since inception. 

Dave Keller
Building amenities include an eight-level, 460-space connected garage, and a Chase Bank branch, tenant lounge areas, restaurant/bar, optometrist and men’s clothing store, all located in the lobby. 

On the upper floors tenants have access to a conference center, cafeteria and The Dayton Racquet Club, which features squash, a full-service workout facility, fine dining and conference and function facilities.  The offering also includes a surface parking lot, which is suitable for redevelopment.

               The HFF investment sales team representing Dunkirk is led by director Ken Martin and acquisition financing can be arranged through Dave Keller.  Colliers International’s Paul Miller is the Ohio broker of record.

               Dunkirk Realty Partners is an international commercial real estate investment firm based in Long Island, New York.  Founded more than 30 years ago, Dunkirk Realty has owned and operated millions of square feet across the United States and abroad.
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

HFF closes sale of Pier One Imports distribution center in Fort Worth, TX

14900 Trinity Boulevard, Fort Worth, TX
DALLAS, TX – HFF announced today that it has closed the sale of a 310,000-square-foot Class A distribution center that is 100 percent leased to Pier 1 Imports in Fort Worth, Texas.

HFF exclusively marketed the property on behalf of the seller, IDI Gazeley, part of Brookfield Logistics Properties under the Brookfield umbrella.  

Industrial Property Trust purchased the center for an undisclosed amount free and clear of existing debt.

Jud Clements
The asset is situated on 14.26 acres at 14900 Trinity Boulevard within the Campus @ CenterPort, a 1,300-acre master-planned business park located south of Dallas/Fort Worth International Airport in the Upper Great Southwest industrial submarket. 

Completed in 1994, the center features 30’ clear height, ESFR sprinkler system, 3.5 percent office finish, T5 lighting with motion sensors, 29 dock-high doors and one oversize ramp door.  Additionally, the asset has a cross-dock configuration with four points of ingress/egress off Trinity Boulevard and Frye Road.

The HFF investment sales team was led by senior managing director Randy Baird, managing director Jud Clements, director Robby Rieke and real estate analyst Sean Ryan.   

IDI Gazeley is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 60 million square feet of premier assets under management and additional prime land sites to develop another 63 million square feet of distribution facilities near major markets and transport routes in North America, Europe and China.

Robby Rieke
As part of Brookfield Property Partners, we belong to one of the world’s largest and most sophisticated owners, operators and investors in real estate.

Industrial Property Trust (IPT) is focused on acquiring and operating high-quality distribution warehouses that are leased to corporate customers.  

IPT's core strategy is to build a national platform of high-quality industrial properties by targeting markets that have high barriers to entry, proximity to a large demographic base, and/or access to major distribution hubs.

 IPT has operated and elected to be treated as a real estate investment trust (REIT) for U.S. federal income tax purposes, commencing with the taxable year that ended on December 31, 2013, and IPT intends to continue to operate in accordance with the requirements for qualification as a REIT.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

BKM Capital Partners Increases Investment in Las Vegas; Acquires Two Assets Totaling $27.5 Million as part of $200 Million Comingled Fund

Cheyenne Technology Center, Las Vegas, NV
LAS VEGAS, Nevada, (December 1, 2014) – BKM Capital Partners, a fund manager and operator platform targeting value-add, multi-tenant industrial real estate in the Western U.S., has increased its investment in Las Vegas with the acquisition of two multi-tenant industrial parks encompassing 309,932 square feet of space, bringing its Las Vegas portfolio to over one half-million square feet.

Formed in 2013 and currently raising its first commingled fund, BKM Capital Partners acquired the assets for a total of $27.5 million.

These acquisitions represent the fourth and fifth investments on behalf of the fund, joining properties in Phoenix and Portland, as well as another in Las Vegas.

Brian Malliet
“Paramount to our firm’s mission as we grow and raise institutional capital is ensuring that each acquisition precisely meets our defined investment criteria.  As we scale up, we must also stay true to our process,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners.

 “Target assets such as Cheyenne and Wind River allow us to do just that, and our acquisition pipeline is well-stocked with deals such as these in markets like Las Vegas, upon which we remain bullish.”

BKM is the only fund manager specifically targeting value-add multi-tenant industrial properties in the Western U.S., according to Malliet, who notes that the firm continues to be active in both acquisitions and capital-raising, and expects to attract strong investor interest based on its specialization and track record.
For a complete copy of the company’s news release, please contact:

Amanda Brenner
Brower, Miller & Cole
(949) 955-7940

American Realty Advisors Launches Program Saving More Than One Million Gallons of Water Annually in Prominent Chicago Office Building

150 Wacker Drive, Chicago, IL

Jay Butterfield
CHICAGO, IL, Dec. 1, 2014 – American Realty Advisors, an institutional real estate investment manager with more than $6 billion in assets under management has announced the launch of a new sustainability initiative, beginning at 150 N. Wacker Drive, a 31-story office tower in Chicago, Illinois, designed to reduce water consumption by more than one million gallons per year at the property.

“Commercial properties currently account for nearly 40 percent of total energy use in the U.S., and 38 percent of total greenhouse/carbon dioxide emissions,” says Jay Butterfield, Managing Director, Fund/Separate Account Operations, of American.  

“For this reason, sustainability strategies are a top priority for American and for our investors.  By saving resources, we can conserve power, decrease environmental impact, and reduce operating costs.”

150 N. Wacker recently underwent LEED re-certification in early 2014.  As part of this process, American conducted a detailed analysis of existing building systems and developed a plan to reduce energy and resource usage, according to Butterfield.

For a complete copy of the company’s news release, please contact:

Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

HC Real Estate Capital Arranges $18 Million in Financing for Multi-Family Community In Sarasota, FL

Marigot Bay Apartments, Sarasota, FL

Chris Caveglia
Sarasota, FL, Dec. 1, 2014 -- Chris Caveglia and Kurt Hoffmann of HC Real Estate Capital have arranged $18,000,000 in a financing for Marigot Bay Apartments in Sarasota, Florida.  Financing was arranged through a Life Company Relationship at a competitive rate with 7 years of Interest Only.

 Marigot Bay apartments is a 220-unit garden style apartment community, built in 2003 and situated on 18.88 acres.  The 220 units are comprised of 64 one bedroom, one-bathroom units, 108 two-bedroom, two bathroom, 44 three bedroom, two-bathroom units and 4 four bedroom, two bathroom units.  

Property amenities include an elegant clubhouse, leasing and management offices, lakefront lagoon-style pool and heated spa, two scenic lakes, detached garages, gas BBQ grills, and a fully equipped fitness center.  

Kurt Hoffman
Chris Caveglia, Principal at HC Real Estate Capital states, “All sides of the transaction worked well together to meet the closing deadline.”  

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia.  

Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent and bridge commercial and multifamily real estate loans.

 The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks.

For a complete copy of the company’s news release, please contact:

Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273
Mobile: 561-376-3176

Taylor & Mathis Reports Strong Activity at Sawgrass Corporate Park in Sunrise, FL

Jennifer Gemma
Sunrise, FL Dec. 1, 2014     Taylor & Mathis has inked 30,000 square feet of renewals & expansions as well as 5,100 square foot new deal at Sawgrass Corporate Park in Sunrise, Florida.

  Donna Korn and Jennifer Gemma of Taylor & Mathis negotiated the leases on behalf of the buildings’ owner, The Brookdale Group. 

Regus Business Centers, the world’s largest provider of flexible workplaces, signed a 24,500 square foot renewal at the park’s International Place I office building. Co-brokers Keith Edelman and Scott Goldstein of Jones Lang LaSalle represented Regus.

American Recovery Service Incorporated (ARSI), a commercial collection agency, nearly doubled their office space signing a renewal and expansion of 5,500 square feet at the park’s Corporate Center I office building. Co-brokers Carlo Brignardello and Alex Brown of Cresa Partners represented the tenant. 

Donna Korn
ETI Financial Corp, one of the country’s leading providers of insurance premium financing, signed a new lease for 5,100 square foot lease at Corporate Center I with co-broker Peyton Moore of Avison Young representing the tenant.

“Renewals are the best testament to the quality of an office building as well as its ownership and management,” stated Korn.  “Tenants today have boundless office space choices.

“We’re especially pleased Regus and ARSI decided to remain at Sawgrass Corporate Park and to welcome ETI Financial Corp.”

The buildings are located within Sawgrass International Corporate Park, South Florida’s largest office park. Strategically bound by I-595, I-75 and Sunrise Boulevard, the state-of-the-art business park features a variety of business space from high-tech manufacturing and R&D to executive office suites and mid-rise Class A office projects. 

Sunrise Corporate Park, Sunrise, FL
Taylor & Mathis, the exclusive leasing agent for the properties, leases and manages a 436,853 square foot office portfolio at the park comprised of Corporate Centre I, II & III, International Place I and Sawgrass Plaza.

For a complete copy of the company’s news release, please contact:

Donna Korn (954)845-8840