Friday, November 30, 2018

Ackerman & Co. Sells One Million-SF Braselton, GA Logistics Center for $70 Million



Braselton Logistics Center, 705 Braselton Industrial Boulevard, Braselton, GA

ATLANTA, GA,  Nov. 30, 2018 – Ackerman & Co. announced today it has sold 1,000,821-square-foot Braselton Logistics Center to Uline Inc.

 The national shipping and business supply company purchased the Class A, bulk distribution center for $70,022,100 (approximately $70 per square foot) from Ackerman and its joint-venture development partners, The Yates Group and JAC Real Estate Investments.

Uline acquired the building, the largest industrial facility Ackerman has developed to date, as part of a purchase option in its 10-year lease. It has occupied the distribution facility since late 2017.

The company operates its consolidated Southeast distribution operations from Braselton Logistics Center.

Located at 705 Braselton Industrial Boulevard in Braselton, Ga., the cross-dock facility’s design features include extra-high 40-foot clear heights, Ductilcrete warehouse flooring, a white TPO roof with skylights and LED high-efficiency lighting.

Braselton Logistics Center is situated in Atlanta’s Northeast/Interstate 85 industrial submarket, one of the largest and most strategically positioned industrial hubs in the Southeast.  Interstate 85, the region’s major north-east highway, is accessible via two equidistant diamond interchanges 1.5 miles away from the facility.

The diverse mix of tenants surrounding Braselton Logistics Center includes Mizuno, Hitachi, Whole Foods Markets, Havertys, Carters and Kichler.  

Haverty's Furniture Showroom
 Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast.

The company, founded in 1967, retains an expert team of more than 100 real estate professionals.

To date, Ackerman & Co. has developed and acquired 37 million square feet of office, medical, industrial, retail and mixed-use space, has 8 million square feet under management, and maintains an investment portfolio valued at $1 billion.

For more information, visit www.ackermanco.com

CONTACT:                                                                        

Steve Webb


Ackerman & Co. Closes 100,800-SF Lease at Stone Mountain, GA Industrial Park with Best Warehousing & Transportation Center Inc.

4660 Hammermill Road, Stone Mountain Industrial Park,
Stone Mountain, GA
Brett Buckner

ATLANTA, GA – Ackerman & Co. has signed a 100,800-square-foot lease with Best Warehousing & Transportation Center Inc. (BWT) at the company’s Stone Mountain Industrial Park at 4660 Hammermill Road in Atlanta’s Tucker/Stone Mountain submarket.

Ackerman & Co. industrial brokers Brett Buckner, Jimmy Stevens and Major Martin represented Ackerman in the lease. The tenant represented itself.

BWT, an international freight forwarder with Southeast U.S. headquarters at 6255 Fulton Industrial Boulevard in Atlanta, is expanding its metro Atlanta distribution operations with the new lease at Stone Mountain Industrial Park.

Jimmy Stevens
The company will use the warehouse space at 4660 Hammermill Road to provide 3PL services for an undisclosed client.

Ackerman & Co. has recently closed three leases totaling 274,800 at the park, bringing total occupancy to 94 percent, up from 84 percent at the time of acquisition.

Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast.

The company, founded in 1967, retains an expert team of more than 100 real estate professionals.

Major Martin
To date, Ackerman & Co. has developed and acquired 37 million square feet of office, medical, industrial, retail and mixed-use space, has 8 million square feet under management, and maintains an investment portfolio valued at $1 billion.

For more information, visit 
www.ackermanco.com







CONTACT:  

  Steve Webb
 swebb@ACKERMANCO.NET                                                                  




HFF announces the sale and acquisition financing for two-building office and lab portfolio in Rockville, MD

5625 Fishers Lane Office Building, Rockville, MD

 
David Baker

WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and acquisition financing of 5625 Fishers Lane and 12735 Twinbrook Parkway, a two-building, Class A office and lab portfolio totaling 229,905 square feet in Rockville, Maryland. 

The HFF team represented the seller, a joint venture between entities affiliated with Wealthcap and JBG SMITH Properties, and procured the buyer.  

Additionally, working on behalf of the new owner, the HFF team arranged acquisition financing for the transaction. 

Matt Nicholson
Constructed in 2004 as a build-to-suit for the National Institutes of Health (NIH), the two properties house highly specialized lab/office buildouts that are critical to ongoing research needs of the NIH, which occupies the entire facility.  

The properties are situated in the Montgomery County life science market, which includes the National Institute of Allergy and Infectious Diseases (NIAID) headquarters, a one-million-square-foot U.S. Department of Health and Human Services (HHS) installation, the U.S. Pharmacopedia headquarters and the NIH headquarters.  

The Johns Hopkins Montgomery County campus and the University of Maryland Institute for Bioscience and Biotechnology Research are located nearby, and many large pharmaceutical firms, including GlaxoSmithKline, Sanofi and MedImmune, reside in the area surrounding the properties.  

Andrew Weir
Additionally, 5625 Fishers Lane and 12735 Twinbrook Parkway offer walkable Metro access providing service to downtown and the entire Washington, D.C. metropolitan area. 

The HFF investment advisory team representing the seller included Jim Meisel, Andrew Weir, Matt Nicholson and David Baker.

HFF’s debt placement team representing the borrower consisted of Kevin MacKenzie, Cary Abod, Brian Torp and Jay Graham.

Wealthcap ranks among the leading real asset and investment managers in Germany.  

With more than 30 years of expertise they secure access to high-quality properties in many attractive asset classes, which they translate into comprehensible offers for participation tailored to individual investment goals. 

Jim Meisel
Wealthcap develops structuring solutions to meet the special needs of professional investors as well as products for private clients.  

To date around 235,000 shares in 150 investments have been subscribed.

JBG SMITH is an S&P 400 company that owns, operates, invests in and develops assets concentrated in leading urban infill submarkets in and around Washington, DC. 

Our mixed-use operating portfolio comprises approximately 19 million square feet of high-quality office, multifamily and retail assets, 98% of which are Metro-served. 

With a focus on placemaking, JBG SMITH drives synergies across the portfolio and creates amenity-rich, walkable neighborhoods.

Kevin MacKenzie
 JBG SMITH’s future development pipeline includes over 19 million square feet of potential development density. For additional information on JBG SMITH please visit www.jbgsmith.com.


Cary Abod













CONTACTS:

KEVIN MACKENZIE
CA Lic. # 01898953
Brian Torp
HFF Executive Managing Director
(949) 253-8800

JAMES MEISEL
MD Lic. #521313
HFF Senior Managing Director
(202) 533-2500

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990

Graycor transforms former Sam’s Club in Phoenix, AZ into HUB 317 Distribution Center


Rendering of Planned Hub 317 Office, Mezzanine Space and Distribution Center, Phoenix, AZ
PHOENIX, AZ – Graycor Construction Company has completed the redevelopment of a former Sam’s Club warehouse store into HUB 317, a fully speculative, Class A distribution center owned and developed by Colorado-based DPC Companies and Confluent Development.

The project marks DPC and Confluent’s first development partnership in the Phoenix industrial market, adding to DPC’s diversified local presence.

Todd Ostransky
 HUB 317 is located on 12 acres at 317 S. 48th St. in Phoenix, minutes from the Loop 202 and 143 freeways and Sky Harbor International Airport. 

The project combines the renovation of a 115,286-square-foot former Sam’s Club building and Go Kart Track location with 109,645 square feet of new tilt-up industrial construction.

“This is what DPC is known for – taking outmoded projects and transforming them to modern-day opportunities for occupancy,” said Todd Ostransky, Graycor Construction Company Vice President of the Southwest Division.

“From an inventory standpoint, HUB 317 is a timely example of how to bring dark big box space like a Sam’s Club back into circulation. With demand for large-scale, close-in, Class A Phoenix industrial space at near record highs, the timing couldn’t be better.”

Chris McClurg
The project architect for HUB 317 is Ware Malcomb. Ken McQueen and Chris McClurg with Lee & Associates serve as the project’s exclusive leasing brokers.

Earlier this year, Sam’s Club announced it would close 50 stores across the U.S. Four of those properties are located in Arizona, including stores in Chandler and Scottsdale.

Now complete, HUB 317 represents almost 225,000 square feet of Class A shell space ready for immediate tenant improvement and move-in.

 This includes fully modernized and renovated office, warehouse/distribution and mezzanine space with a 24-foot clear height and truckwell and grade-level loading. 


Ken McQueen
The building addition features a 32-foot clear height with 25 dock-high loading doors. 

Collectively HUB 317 includes 290 parking stalls, 3,000 Amps/480 volt power supply and freeway visibility with building and freeway monument signage opportunities.

The project is the first for Confluent in Phoenix. It adds to DPC’s local presence, which currently includes approximately 890,000 square feet of Phoenix office and retail holdings.







CONTACTS:    
                                                                    
Stacey Hershauer
focusAZ
Marketing & Public Relations

Rhodes+Brito Architects Appoints Mark Loeb Construction Administrator



Mark Loeb
ORLANDO, Fla. – Rhodes+Brito Architects, based in Orlando has appointed Mark Loeb as Construction Administrator.  Loeb holds both a Masters of Urban Planning and a Bachelors of Environmental Studies from the University of Colorado , according to Ruffin Rhodes, co-founder and partner in the firm.

Loeb, who has 30 years of professional experience, will work closely with project architects at Rhodes+Brito to ensure implementation of project design and that the intent of design is maintained through construction quality control.   

“We will benefit from Mark’s track record of leadership and he will contribute substantially to our growth,” Rhodes said.   

Ruffin Rhodes
Rhodes+Brito, an Orlando firm founded in 1996, currently employs a staff of 50, including 9 registered architects. 

The firm has exceptional experience providing architectural services to a wide variety of agencies throughout the state of Florida , including government, federal, civic, K-12, higher education and aviation.

CONTACTS:                                                                        

Ruffin Rhodes, Rhodes+Brito Architects, 
407-648-7288 

Maximiano Brito, Rhodes+Brito Architects, 
407-648-7288 

Beth Payan, 
Larry Vershel Communications 
407-644-4142 

NAI Realvest Brokers $825,000 Sale of Industrial Property in Edgewood, FL


 
Jason G. Toll
ORLANDO, FL — NAI Realvest recently closed on the acquisition of an industrial facility for $825,000 at 189 Jamaica Lane in the town of Edgewood south of downtown Orlando . 

Jason G. TollMiCP, director of industrial services at NAI Realvest, negotiated the transaction on behalf of the buyer, Neth & Son, Inc.,a commercial roofing company based and operating in Orlando for over 30 years.

Toll said the 9,321 square foot facility on a 1.09-acre site was one of a few properties on the market in Central Florida with a fenced storage yard. 

 Philip Mays of Ulysses Realty Group represented the seller Moretrench American Corp. of Rockaway, N.J.

Phillip R. 'Phil' Mays
CONTACTS:

Jason G. Toll,
 MiCP Director of Industrial Services, 
NAI Realvest 
407-875-9989 
jtoll@realvest.com

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 
407-875-9989 
Rwebb@realvest.com

Beth Payan, Larry Vershel Communications,
407-644-4142
 Lvershelco@aol.com 


Thursday, November 29, 2018

Marcus & Millichap Promotes Adolfo 'Al' Palacios to Vice President Investments Miami FL


Adolfo 'Al' Palacios

MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced Adolfo “Al” Palacios of the company’s Miami office has been promoted to Vice President Investments, according to Scott Lunine, Regional Manager. Previously, Palacios was a senior associate.

“Al has had tremendous success helping clients achieve their investment goals.  His incredible work ethic and attention to detail has helped him to achieve superior results” says Lunine.

Scott Lunine
Palacios was most recently a senior associate with Marcus & Millichap. He began his career at the firm in July 2008 as an associate and was promoted to senior associate in 2011.

Palacios specializes in retail in the firms’ Miami office. Al has more than 20 years’ experience in the real estate industry and has closed more than 200 transactions valued at over 650 million dollars during his long tenure.

CONTACT:

Daniella Aragon
Marketing Coordinator (Front Desk)
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



Winston Hotels, LLC Formed to Develop and Acquire Hotels


Robert W. Winston III
                                        Raleigh, NC, Nov. 28, 2018—Three seasoned hotel executives with a combined 80 years of hotel, development, acquisition and management experience today announced the formation of Winston Hotels, LLC to develop and acquire hotels across the U.S.

            The three executives are:

·                     Robert W. Winston III, executive chairman of the board and co-founder, has been involved in hotel real estate for more than 27 years, most recently as chief executive officer with Winston Hospitality, a hotel operator founded in 1991. 

He is the former co-founder and chief executive officer of the original Winston Hotels, Inc., a publicly traded hospitality REIT (NYSE: WXH) that ranked in the top quartile of public hospitality REITs for shareholder investment returns before being acquired in 2007.

Joseph V. Green
·                     Joseph V. Green, chief executive officer and co-founder, brings with him nearly 40 years of hospitality and real estate leadership experience and in-depth expertise in corporate financand real estate acquisitions/development in both public and private organizations

He co-founded and was president of the original Winston Hotels, Inc., and most recently served as president of The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators with roughly $1.5 billion of assets under management.

Mathew A. Jalazo
·                     Mathew A. Jalazo, executive vice-president of development, has been an integral part of hotel real estate transactions, including acquisitions and development, across the U.S. and Canada in his nearly 15 years of experience. 

Prior to joining Winston, he served as the vice president of development for Urgo Hotels & Resorts, a Bethesda, Md.-based hotel company that develops, acquires and operates distinctive and unique hotels and resorts in major markets and resort locations in the U.S., Canada and the Caribbean. 

 During his tenure there, he was instrumental in growing the company’s portfolio from 18 to 44 hotels. 
  
 CONTACT:

Chris Daly,
media
(703) 435-6293

HFF announces construction financing for speculative Class AA office tower in Denver’s CBD


Rendering of planned Block 162 office tower,
 central business district, Denver, CO

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces construction financing for Block 162, a speculative Class AA office tower totaling 595,039 square feet in Denver’s central business district.

Leon McBroom
The HFF team worked on behalf of the borrower, a joint venture between Patrinely Group and USAA Real Estate, to secure the four-year construction loan through PCCP, LLC. 

Block 162 broke ground in June of 2018 and upon completion will be a core, 30-story office tower with 9,900 square feet of ground-level retail and parking in three below-grade and nine above-grade decks. 

The core and shell of the building is being constructed to meet LEED Gold certification, and it will be only the second office tower of 25-plus stories to be delivered in the last three decades in Denver’s CBD. 

A best-in-class amenity package will be highlighted by an 11th floor sky terrace with social lounge, an activated outdoor fitness area in conjunction with a full-service indoor fitness center, bike storage and 2,800 square feet of conference and meeting space. 

Eric Tupler
Block 162 will offer tenants super-efficient rectangular floor plates, floor-to-ceiling glass for maximum natural light, 10-plus foot ceiling heights, on-site security and panoramic views of the Front Range and downtown. 

 The 1.1-acre site is positioned on a corner lot at 675 15th Street in Denver’s Midtown West submarket.  This location is within a short walk of Larimer Square, the 16th Street Pedestrian Mall, the Colorado Convention Center and the Denver Center for the Performing Arts. 

Additionally, the project will be served by an adjacent light rail stop at the 16th and California Street station providing connections to the rest of the CBD, LoDo and Union Station. 

The HFF debt placement team representing the borrower included director Leon McBroom and senior managing director Eric Tupler.

CONTACTS:

LEON MCBROOM
HFF Director
(303) 515-8000

ERIC TUPLER
HFF Senior Managing Director
(303) 515-8000
etupler@hfflp.com

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990



Meridian Capital Group Arranges $14.6 Million in Acquisition Financing for the Wild Pines Apartments, a Multifamily Property in Naples, FL


Wild Pines Apartments, 2580 Wild Pines Lane, Naples, FL

Israel Schubert
Boca Raton, FL – Meridian Capital Group, America’s most active dealmaker, arranged $14.6 million in acquisition financing for the Wild Pines Apartments, a multifamily property in Naples, FL on behalf of Axonic Properties, LLC.

The 36-month loan, provided by a balance sheet lender, features a rate of 1.75% over 30-day LIBOR and one year of interest-only payments.

Akiva Friend
This transaction was negotiated by Meridian Senior Managing Director, Israel Schubert, Managing Director, Max Beyderman, and Senior Vice Presidents, Jason Grimm and Akiva Friend, who are all based in the company’s Boca Raton, FL office.

Located at 2580 Wild Pines Lane, Wild Pines Apartments features two-story buildings totaling 200 units.

The property was constructed in two phases; Phase I is comprised of 96 market-rate units while Phase II consists of 104 rent-restricted units.

All apartments offer nearly identical one-bedroom floorplans averaging 600 square feet, though Phase II units include additional patio and storage areas in addition to washer and dryer connections.

Jason Grimm
The property features community benefits such as a laundry facility, two swimming pools, a gym, and covered parking.

Wild Pines Apartments is located less than two miles from downtown Naples, making the property a convenient home for anyone working in the greater area. 

Its advantageous location allows for a consistent waiting list and also makes the property a prime candidate for an interior and exterior value-add program.

“The sponsor had already received a quote for a very attractive Freddie Mac floating rate loan when we were initially approached for this deal,” said Mr. Friend.

“Meridian was able to leverage our savings bank relationships to bring a par deal to the table at a lower spread and a higher strike price on the interest rate cap, significantly reducing the overall cost of the transaction for the client.”

“Our research showed that a recent change in the tax code could potentially benefit this asset,” said Mr. Schubert. “During the loan process, we were able to secure $500,000 of additional proceeds, further improving the deal’s IRR.

"The combination of our detailed market knowledge with our deep reach in the lending community produced a much better result than the sponsor had originally anticipated.”


 CONTACTS:

Jonathan M. Stern
Managing Director
Meridian Capital Group
1 Battery Park Plaza, 26th Floor
New York, NY 10004
jstern@meridiancapital.com
Direct: 212.612.0181
Fax: 212.201.5181
www.meridiancapital.com