Tuesday, July 31, 2018

HFF announces $149 million refinancing of Genesis Campus Point in San Diego, CA


SAN DIEGO, CA – HFF announces the $149 million refinancing of Genesis Campus Point, a three-building, state-of-the-art life science campus totaling 314,135 square feet in the UTC submarket of San Diego, California.

 
Timothy Wright
The HFF team worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., to secure the 48-month floating-rate loan.

Genesis Campus Point is located at 4224 and 4242 Campus Point Court and 10210 Campus Point Drive in San Diego, which ranks as the third largest biotech market in the country behind Boston and San Francisco.

  Situated just east of Interstate 5 and directly south of its interchange with Interstate 805, the property is positioned within the heart of the UTC submarket, referred to as the “Golden Triangle”, and is proximate to the UCSD health system, Scripps medical campus, Westfield UTC Mall, Torrey Pines Reserve and Golf Course and numerous dining and entertainment venues. 

Olga Walsh

The property comprises three Class “A” life science buildings, an underground parking facility and an amenity building that features a fitness center with lap pool, yoga studio, spin studio and showers/lockers; an on-site restaurant/bar and conference centers. 

Todd Sugimoto
Tenants at the life science campus include Poseida Therapeutics, MabPlex USA, Heron Therapeutics, Celgene, Tocagen, BioLabs San Diego LLC and AveXis Inc.

The HFF debt placement team representing the borrower included senior managing director Tim Wright, managing director Todd Sugimoto and senior associate Olga Walsh.

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Bureau of Real Estate, License Number 01385740.

Phase 3 Real Estate Partners, Inc. (P3RE) is a progressive real estate company dedicated to fostering the growth of the life science community by providing premiere, Class A environments that meet the needs of companies today and in the future.  

P3RE’s properties are located in the epicenters of the life science markets in San Diego and San Francisco.  These are innovative urban centers for the life sciences and represent two of the top three life science clusters in the world.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

Veteran Real Estate Developers Team Up for Upper Westside Development in Atlanta, GA


Rendering of planned 8 Westside corporate campus,
8th and Howell Mill, Atlanta, GA


Jim Meyer
 ATLANTA, GA – In an effort to meet the city’s demand for Class A creative workspace, two veteran real estate developers are joining forces to bring 8West, located at the corner of 8th and Howell Mill, to the Upper Westside.

Developers Jim Meyer of Atlantic Capital Properties and Mack Reese of Gateway Ventures envision the space to attract technology and creative companies who will thrive in authentic, walkable and amenity-rich environments just minutes from some of the city’s top restaurants, retailers and entertainment venues.

“The timing to integrate a Class A workspace component into the retail hub of the Upper Westside could not be better,” said Meyer of Atlantic Capital Properties.

“When we worked with Gateway Ventures on the development of Centergy at Tech Square in the early 2000s, we found there was demand for space from companies who wanted to be close to the Georgia Institute of Technology (Georgia Tech) for their recruiting and research needs.

Mack Reese
"As Midtown has changed and the economy evolved, we now see a similar demand for space on the Upper Westside. With 8West, we have designed a project which will appeal to creative companies and individuals who value walkability and unparalleled access to the best restaurants and entertainment venues in Atlanta – a place where people want to be.

"I’m thrilled to be working with Mack and Gateway Ventures again as we aspire to bring the same connection to the west side of Georgia Tech’s campus that we brought to the east side 17 years ago.”

For more information, please contact:

Taylor Rowden/Hilary Harmon Liz Lapidus PR 404-688-1466 Taylor@lizlapiduspr.com

HFF announces sale of one of Downtown Denver’s most prominent mixed-use towers


1600 Glenarm Place, Downtown Denver, CO

Jordan Robbins
DENVER, CO Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of 1600 Glenarm Place, an iconic, mixed-use high-rise located on the 16th Street Mall in downtown Denver, Colorado.

The HFF team marketed the asset exclusively on behalf of the seller, a joint venture between RedPeak Properties and Allstate Investments, and procured the buyer, Northland Investment Corporation. The tower was purchased along with a 0.77-acre land parcel for future development located at 14th & Glenarm.

1600 Glenarm Place was originally constructed in 1967 as an office tower known as the Security Life Building and was subsequently converted in 2006 by RedPeak Properties into one of downtown Denver’s first and most prominent residential and retail mixed-use projects. 

The building comprises 333 luxury apartment units and approximately 29,000 square feet of commercial space, including premium frontage along Denver’s 16th Street pedestrian mall. 

Jeff Haag
 The 31-story building has a WalkScore® of 96 and is within walking distance of nearly 40 million square feet of office space and two blocks of light rail access. 

The residential units average approximately 980 square feet in a range of studio, one-bedroom, two-bedroom and penthouse layouts. 

Resident amenities include an outdoor terrace with barbecue grills and fireplace, state-of-the-art fitness center with Fitness on Demand and a yoga/Pilates studio, demonstration kitchen, cyber lounge, conference room, movie theatre, game room, resident library and reading room, valet parking, 24-hour concierge service and door-to-door room service from Earl’s Restaurant on the property’s ground floor. 

The HFF investment advisory team representing the seller included managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.

“1600 Glenarm is a one-of-a-kind, legacy asset within the downtown Denver market and by far one of the most recognizable assets in the area,” Robbins said. 

Anna Stevens

“RedPeak was extremely forward-looking in 2006 with its conversion from office space into a mixed-use residential and retail building, which has allowed 1600 Glenarm to maintain its prominent image within the market since its completion.”

“Northland recognized the irreplaceable nature of this asset, which marks their entry into the Denver market," Robbins continued.  “This, coupled with their ability to implement an aggressive value-add strategy, will only serve to further the property’s position within downtown.”

For more information, please contact:

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500



HFF announces $90M refinancing of Zenith Ridge Corporate Campus in suburban Pittsburgh, PA

Zenith Ridge Corporate Campus, Canonsburg, PA

PITTSBURGH, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $90 million refinancing of Zenith Ridge Corporate Campus, three Class A office buildings totaling 486,000 square feet in the Pittsburgh-area community of Canonsburg, Pennsylvania.

Mark Popovich
The HFF team worked on behalf of the borrower, Quattro LP, a partnership comprised of principals Jim and Jack Scalo, John Verbanac and Charles Zappala, to secure the 10-year, fixed-rate loan through Starwood Mortgage Capital. 

The property, which is managed, leased and developed by Burns Scalo Real Estate, comprises Zenith Ridge 1, 2 and 3, located in Southpointe Business Park (a southwestern suburban area of Pittsburgh).

The campus setting offers tenants walking trails, outdoor exercise stations, ping pong tables, communal fire pits, outdoor patios and outdoor meeting areas. 

The campus offers a “live, work, play” environment featuring South Pointe Town Center’s residential, retail, restaurant and hospitality options all within a short walk.

The fully leased Zenith Ridge is sustainably managed by Class G, LEED-certified and home to several tenants, including Ansys and EQT. 

The HFF debt placement team representing the borrower included senior managing director Mark Popovich.

For more information, please contact:

KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572

NAI Realvest Negotiates Four Leases for New and Expanding Businesses At Orlando, FL Area Industrial Centers

Michael Heidrich


ORLANDO, FL --- NAI Realvest recently closed on four multi-year leases on behalf of the landlords for new and expanding businesses at Orlando area industrial centers totaling 14,902 rentable square feet.


Michael Heidrich, principal at NAI Realvest brokered a lease for Fence Hut, LLC serving the Orlando, Lakeland and Tampa areas with fast affordable fencing installation.  

The new tenant leased 4,382 square feet in Goldenrod CommerCenter, 1476 N. Goldenrod Rd. in east Orlando.

Heidrich negotiated an expansion and renewal lease agreement with Team O.C. Weightlifting LLC d/b/a Altamonte Crossfit for 6,450 square feet at 360 and 362 Melody Lane in Casselberry in east Seminole County.  The tenant renewed its lease of 4,450 square feet and expanded into another 2,000 square feet.  The landlord is Melody Lane Partners, Ltd.


Patty Nolff

Heidrich and NAI Realvest Associate Patty Nolff negotiated a lease agreement at Hanging Moss CommerCenter with RTR Suppliers, Inc., a wholesale commercial refrigerating equipment supplier serving Florida, The Carolinas and Virginia. 

The tenant renewed a lease of 5,250 square feet and also expanded into an additional 1,875 square feet for a total of 7,125 square feet at 6124 Hanging Moss Rd.

Heidrich also negotiated a renewal lease at Hanging Moss CommerCenter with long-time tenant, Jacksonville-based Fastenal for 3,395 square feet at 6148 Hanging Moss Rd.   Fastenal is the largest fastener distributer in North America.  


For more information, please contact:

Beth Payan or Larry Vershel, Larry Vershel Communications,

Marcus & Millichap Brokers $1.1 Million Sale of Dollar General Site in Laurel, MS


 
Daniel Hurd
LAUREL, MS,  July 31, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Dollar General, a 9,026-square foot net-leased property located in Laurel, Miss., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,107,700.

The buyer, a private investor, was secured and represented by Daniel Hurd, an investment specialist in Marcus & Millichap’s Tampa office. Elizabeth Williams, Broker, assisted in closing this transaction. 

“The dollar store sector has continued to be white-hot this year," stated Mr. Hurd.

Elizabeth Williams
"In an environment where so many other retailers are consolidating, Dollar General dominates the rural markets where their competitors cannot afford to operate in.

"We are selling deals all across the country and there is no sign that things will slow down anytime soon. My team and I are on pace for a record year and we look forward to a continued growing market share moving forward,”

Newly constructed in 2018, Dollar General is situated on a 1.44-acre parcel. 

The city of Laurel, Miss., has over 8,000 inhabitants within a 5-mile radius of the Dollar General site. Dollar General is located at 5314 Highway 15 in Laurel, Miss.

For more information, please contact:

Whitney  Davis,
or
Ari Ravi
Regional Manager, Tampa
(813) 387-4700

Monday, July 30, 2018

Shorenstein Lands Trio of New Tenants at Bank of America Plaza in Atlanta, GA


Bank of America Plaza, Atlanta, GA

 ATLANTA, GA  July 30, 2018 – Shorenstein Properties LLC announced three notable lease signings today at Bank of America Plaza, a newly energized Class A office tower in Midtown Atlanta.

Christopher Caltabiano
 The 55-story tower, the tallest in the Southeast, recently underwent a $10 million renovation to the building’s West Wing that delivered an array of premier amenities, including state-of-the-art workspaces and a dynamic food hall featuring chef-driven concepts and healthy options.

Headlining the list of new tenants at Bank of America Plaza is Revel Systems, a San Francisco-based tech firm that transforms the way business is done across the globe by integrating all operations and customer channels, driven by the Point of Sale, into a single dashboard.


Jeff Keppen
 Revel signed a 25,547-square-foot full-floor lease on the building’s 38th floor and will move into upgraded, loft-style offices that are part of the tower’s expanding spec suite program. 

The owners were represented by Jeff Keppen and Nicole Goldsmith of CBRE. The tenants were represented by Christian Devlin of CBRE.

Outsized demand for the spec suites, which include open floor plans, creative lounge space and tech-enabled amenities, has spurred Shorenstein to accelerate development for the next block of spec suite space, which totals nearly 15,000 square feet and is expected to come online this fall. 

Also as part of the spec suite program, Shorenstein unveiled lease signings with Groundfloor (7,746 square feet), the first and only real estate lending marketplace open to non-accredited investors, and Florence Healthcare (4,106 square feet), a fast-growing company focused on improving clinical trial data flow to advance cures through software.

“Our thriving spec suite program has established Bank of America Plaza as a market leader in high-tech loft space that will attract the most sophisticated tenants from Atlanta and beyond,” said Christopher Caltabiano, Senior Vice President of Asset Management at Shorenstein Properties. 

Nicole Goldsmith
“The demand for these next generation workspaces also coincides with the roster of new dining, retail and entertainment destinations in close proximity to Bank of America Plaza, creating one of the most dynamic work environments in the U.S. 

"We welcome this impressive group of companies to the building, and look forward to providing an atmosphere that helps foster bottom-line results for our tenants.”

Gregory Dukat
The crown jewel of Atlanta’s skyline and one of the tallest buildings in the U.S., Bank of America Plaza is also home to leading tenants such as Anthem, Inc., Display Data, Featurespace and Riskalyze.

“Shorenstein’s forward-thinking approach has fueled the impressive transformation of Bank of America Plaza into a premier tech hub,” said Greg Dukat, CEO of Revel Systems, a feature rich Point of Sale and business platform. “The ability to access high-tech, move-in ready space in the heart of Atlanta was a key factor in our decision to open a new regional office here. 

"Mass transit, great restaurants and other top attractions are within an easy walk of the building and will provide Revel Systems a considerable advantage in recruiting top talent from across the area. We look forward to calling the building home for many years.”

As part of the recent West Wing renovation, Shorenstein debuted Marketplace 600, a 17,000-square-foot food hall that includes a “Chef’s Table” which showcases the skills of celebrity chefs who frequently visit the building. Marketplace 600 features a variety of food stations, including a salad bar, hot meal bar, grill station and dessert bar, and also offers cooking classes and digital order and pick-up through the Thrive mobile app.


Christian Devlin
The upgraded West Wing also features a new 4,000-square-foot conference and event center, along with a new Bank of America branch. Other on-site amenities include the 17,000-square-foot RPM Health Club & Spa that offers personal training, group classes and massages, and a full-service Starbucks in the main lobby.

Bank of America Plaza is directly adjacent to the North Avenue MARTA rail station, and offers immediate north and south access to Interstates 75 and 85. Mercedes-Benz Stadium, World of Coca-Cola, Ponce City Market and the Georgia Institute of Technology are all within close proximity to the building. 

More than 63 restaurants are also located within five blocks of Bank of America Plaza, including Publik Draft House, Edgar’s Proof & Provision, Baraonda Ristorante & Bar and Livingston. 

For more information, please contact:

Liana Moran
The Wilbert Group
770-905-9915 (C)


The Madison Sale Brings EverWest’s Phoenix Transaction Volume to $165 Million in 24 Months



The Madison Office Campus, Camelback Corridor, Phoenix, AZ
Amr Ceran
Phoenix, AZ – EverWest Real Estate Investors, in partnership with CenterSquare Investment Management, has completed the sale of The Madison, a Class A office campus located in the heart of Phoenix’s Camelback Corridor. 

The sale marks a $165 million, 24-month transaction and renovation push within metro Phoenix by the Denver-based real estate investment, management and operating company.
Kevin Shannon, CJ Osbrink, Paul Jones, Ken White, Brunson Howard and Rick Stumm of NKF Capital Markets represented EverWest and CenterSquare in the transaction.
Located at 5343 and 5353 N. 16th St., The Madison totals 177,312 square feet of Class A office space in two four-story buildings – both offering views of the surrounding skyline, Camelback Mountain and Piestewa Peak, and quick access to area amenities, including some of the Valley’s most sought-after shopping and dining destinations.

Kevin Shannon
Since purchasing The Madison, EverWest has completed an extensive repositioning program including renovations to lobbies, restrooms, conference facilities, monument signage and landscaping, and the addition of an on-site deli offering quick-serve lunch and dinner items.
“EverWest has executed on its business plan,” said EverWest Senior Director Amr Ceran, who manages the company’s Arizona and Southern California real estate portfolio, including investment, redevelopment and lease-up. 

“Our focus is on acquiring and renovating assets through extensive improvements and lease-up, with results that achieve – and often exceed – market rates.”
EverWest’s Phoenix activity over the past 24 months has included the sale of Great American Tower – a landmark downtown Phoenix high-rise office building that the company improved prior to sale, and the sale of 10 Chandler, a 553,000-square-foot flex/industrial building located in the Chandler Tech Corridor, fronting Interstate 10.

CJ Osbrink
In 2016. the company renovated The Circuit from a former semiconductor building into 185,000 square feet of creative office space. 

The same year it purchased and began efforts to transform The Quad from outmoded executive suites into a 14-building, 166,606-square-foot project that blends elements of a lifestyle center and office park to create a next-generation creative office community. 
In late 2017, EverWest completed the purchase of – and is currently renovating – Seville Professional Center, a two-story building totaling 92,581 square feet on North Scottsdale Road.
At The Madison, renovations and a successful lease-up plan has achieved 90 percent occupancy.
For more information, please contact:
Stacey Hershauer/FocusAZ
480.600.0195
stacey@focusaz.com

www.gwlra.com.

Sunday, July 29, 2018

Marcus & Millichap Capital Corp. Brokers Sale of Two-Property Hotel Portfolio in Orlando, FL for $13.5 Million


Ahmed Kabani
ORLANDO, FL – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise announced the sale of a two-property hotel portfolio in Orlando, Florida, according to Scott Lunine, regional manager of the firm’s Miami office.

The properties are a 200-room Clarion Hotel and the Econo Lodge Orlando Airport, which has 130 rooms. The two hotels sold for a total of $13.5 million.

            “The acquisition provides the new owner with a great opportunity to grow revenue in one of the largest hotel markets in Florida,” says Ahmed Kabani, first vice president investments in Marcus & Millichap’s Miami office.

“The large banquet hall, bars and meeting rooms are perfect for the Orlando market and new ownership can add a building in the land behind the property.”

Kabani represented the seller, a private investment trust, and procured the buyer, a limited liability company.

Clarion Hotel, Orlando, FL
Built in 1985 on 8.6 acres, the properties are located off State Road 528, which connects traffic from Interstate 95 to Orlando and provides easy access to the city’s main attractions, including Walt Disney World and Universal Studios. Orlando International Airport is three miles away and the Orange County Convention Center is within a 15-minute drive.

  

For more information, please contact:


Daniella Aragon
Marketing Coordinator
Marcus & Millichap
5201 Blue Lagoon Drive
Suite 100
Miami, FL 33126
(786) 522-7000 main
(786) 454-0094 mobile
(786) 522-7010 fax
daniella.aragon@marcusmillichap.com

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OR

  Scott Lunine
Vice President / Regional Manager, Miami
(786) 522-7000