Friday, October 26, 2018

HFF announces the sale of Lehigh Valley’s Westgate Mall

Westgate Mall, Schoenersville Road, Bethlehem, PA

Stephen Sullivan
PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and financing of Westgate Mall, a 270,000-square-foot enclosed mall in the Lehigh Valley community of Bethlehem, Pennsylvania.

The HFF team marketed the property on behalf of the seller.  Additionally, HFF worked on behalf of the buyer to secure financing.  New ownership is the joint venture between Onyx Equities, LLC and PCCP, LLC.   

Situated on 22.6 acres on Schoenersville Road, Westgate Mall is adjacent to the intersection of Route 22 and Route 378, providing quick regional access to Lehigh Valley, Philadelphia and New York. 

Matthew P. Flath
More than 93,900 residents earning an average annual household income of $71,641 live within a three-mile radius. Westgate Mall is anchored by Weis Markets, Rite Aid and Sky Zone; was formerly anchored by The Bon Ton; and is adjacent to Lehigh Valley Hospital. 

“We are pleased to have finalized this acquisition and look forward to implementing Onyx’s signature, value-add strategy in partnership with PCCP,” said Stephen Sullivan, chief investment officer at Onyx Equities.

“We are excited about implementing our proven repositioning strategy and revitalizing this well-located retail center,” added Matthew P. Flath, Onyx’s vice president of Asset Management.

Chris Munley
The HFF team representing the seller included managing director Chris Munley and director Michael DiCosimo.

“The Lehigh Valley is one of the fastest-growing regions within the state of Pennsylvania, supported by significant job and resulting population growth,” Munley said. 

 “We have seen a considerable amount of both institutional and private, out-of-market capital targeting the region and retail shopping centers in particular.”

HFF’s debt placement team representing the borrower included managing directors Steven Klein and Ryan Ade.

Michael DiCosimo
“HFF appreciates the opportunity to represent both Onyx Equities and PCCP in this transaction,” Klein added.  “We believe the sponsorship will add significant value to the property, creating a best-in-class asset that will greatly benefit the community.”

Cole Schotz P.C. represented Onyx Equities in the acquisition, joint venture with PCCP and financing.  Jordan Metzger led the team that included Robert DiPisa, John Park and Samantha Epstein. 

“Westgate Mall is next in the line of value-add acquisitions and turnarounds, which is the hallmark of Onyx’s success and leadership in the Northeast retail and office markets,” Metzger said. 

Samantha B. Epstein
 “Cole Schotz is proud to be a long-standing member of the Onyx team and congratulates Onyx on another successful transaction.”

Jordan Metzger
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading, full-service real estate firm specializing in investment, asset repositioning and ground-up development. 

 Since its founding in 2004, Onyx has acquired more than $2.2 billion worth of real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut.

Onyx has executed over $230 million in capital improvement projects under its signature repositioning program. 

Robert DiPisa

Driving Onyx’s success is its loyalty to core geographic markets, a seasoned team of expertise in all facets of real estate, its adaptability to market conditions, and the experience gained from managing over 65 million square feet since inception. 

 Throughout its portfolio, Onyx takes aim at increasing operational efficiency, tenant satisfaction and long-term value. 

For more information visit

PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. 

John Park
PCCP has $8 billion in assets under management on behalf of institutional investors. 

With offices in New York, San Francisco and Los Angeles, PCCP has a 20-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. 

PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. 

Since its inception in 1998, PCCP has successfully committed $17 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. 

Steven Klein
 PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital.

Learn more about PCCP at


PA Lic. #RS314499
HFF Managing Director
(484) 532-4200

PA Lic. #RS329558
HFF Director
Ryan Ade
(484) 532-4200

HFF Managing Director
(212) 245-2425

HFF Managing Director
(484) 532-4200

HFF Digital Content/Public Relations Specialist
(713) 852-3420

HFF announces $17.1 million acquisition financing for grocery-anchored Southern California retail center

Grand and Alosta Retail Center, Glendora, CA

Paul Brindley
LOS ANGELES, CA –  – HFF announces $17.1 million in post-acquisition financing of Grand and Alosta, a 70,811-square-foot, newly redeveloped, grocery-anchored retail center in the Southern California community of Glendora.

The HFF team worked on behalf of an institutional borrower to secure the seven-year, fixed-rate, full-term, interest only, non-recourse loan through a national life insurance company. 

 Additionally, the HFF team brokered the sale of this retail property to the borrower earlier in the year.

The Grand and Alosta retail center was redeveloped in 2018, which included an extensive physical renovation and upgrades to base building systems. 

Marc Schillinger
Anchored by Sprouts Farmers Market and Marshalls, the fully leased property is also home to Orangetheory Fitness, Mattress Firm, Oke Poke, Sherwin-Williams, The Coffee Bean, US Nail and Spa, Burgerim and Creamistry. 

 The center is situated on 6.22 acres at 655 South Grand Avenue at the intersection of Grand and Alosta Avenues (Route 66), which has a combined traffic count of 62,000 vehicles per day and is 0.4 miles from the 210 Freeway. 

More than 164,400 residents earning an average annual household income of $88,234 lives within a three-mile radius of Grand and Alosta. 

The HFF debt placement team representing the borrower included senior managing director Paul Brindley, managing director Marc Schillinger and associate Ryan Ash.

Ryan Ash
“We are glad to have procured such accretive financing for an outstanding property and best-in-class sponsor,” Schillinger said.  “There continues to be attractive financing for retail properties that have excellent tenant lineups that support strong local economies.  

"We were able to leverage HFF’s national platform and real-time financing data to procure the best possible financing solution for our client.”

Holliday GP Corp. ("HFF"), California Department of Real Estate License #01385740.       


CA Lic. #01173794
HFF Senior Managing Director
(310) 407-2100

CA Lic. # 01385740
HFF Managing Director
(310) 407-2100

HFF Digital Content/Public Relations Specialist
(713) 852-3420

HFF announces sale of Four-building industrial portfolio in San Diego, CA

                                                                                    Photo by Bill Robinson Photography 
Siempre Viva Business Park, Otay Mesa Submarket, San Diego, CA
Nick Frasco
SAN DIEGO, CA – HFF announces the sale of a four-building industrial portfolio totaling 544,864 square feet in San Diego’s Otay Mesa submarket.

The HFF team represented the seller.  The property was purchased by an affiliate of IDS Real Estate Group

Situated on 28.1 acres within the Siempre Viva Business Park, the 99-percent-leased portfolio is located at 8690 Kerns Street, 2660 Sarnen Street and 8863 and 9043 Siempre Viva Road and features convenient access to San Diego’s major distribution corridors, including Interstates 5, 8, 15 and 805, which connect to Southern California’s vital trade routes. 

The portfolio is in San Diego’s Otay Mesa Industrial submarket, which is home to the highest concentration of Fortune 500 companies in San Diego and benefits from its proximity to the United States/Mexico border. 

Nick Psyllos
 Originally constructed between 2001 and 2003, the portfolio properties feature 24- to 32-foot clear heights, wide truck courts, loading via 98 dock-high and 14 grade-level doors, an above-standard parking ratio and low office build-out.

The HFF investment advisory team representing the seller included senior director Nick Frasco, senior managing director Nick Psyllos and managing director Andrew Briner.

“The Siempre Viva Portfolio represented an exceptional opportunity to acquire a critical mass of institutional-quality industrial logistics product in a highly desirable Southern California location,” Frasco said. 

“The portfolio’s diverse tenant roster, which consists of global and national companies with a weighted average remaining lease term of 3.3 years, combined with strong submarket fundamentals that have resulted in an impressive 43 percent rent growth in the past 36 months make the portfolio particularly attractive.”

Andrew Briner
Since its founding over 30 years ago, IDS Real Estate Group has been widely recognized for enhancing value on over $5 billion of commercial real estate.  

Clients, tenants, and partners consider IDS one of the finest comprehensive real estate service providers in the nation.  


CA Lic. #01819400
HFF Senior Director
(858) 552-7690

CA Lic. #00788060
HFF Senior Managing Director
(858) 552-7690

CA Lic. #01821872
HFF Managing Director
(310) 407-2100

HFF Digital Content/Public Relations Specialist
(713) 852-3420

Morgan Truck Body Opens First-ever New England Manufacturing Facility at Winstanley Enterprises Revamped Plainfield CT Site

Morgan Truck Body, Moosup Pond Road, Plainfield, CT

PLAINFIELD, CT – Winstanley Enterprises announced that Morgan Truck Body, the premier producer of truck and van bodies in North American has begun manufacturing at their new Plainfield,  Connecticut location. 

An official private ribbon-cutting ceremony and plant tour with customers, supplier partners, local dignitaries and business leaders will be held on November 14th in celebration.

The rejuvenated Plainfield site on Moosup Pond Road marks Morgan Corporation’s, first location in New England.  The manufacturing facility is capable of supporting production of 3,000 dry freight and reefer truck bodies annually. 

Adam Winstanley
 Morgan will occupy 175,000 square feet of the facility and is expected to employ approximately 140 team members.          

Winstanley purchased the nearly 530,000 square foot property in 2017 with a plan to infuse capital into redeveloping the site to lure in new manufacturing and distribution tenants.

Demand for warehouse and manufacturing space has been a skyrocketing trend nationwide.

“We are thrilled to welcome Morgan Truck Body to Connecticut and excited to see manufacturing operations at this site resume,” said Adam Winstanley, a principal of Winstanley Enterprises.

“Morgan Truck Body is a nationally respected growing business that breathes new life to this Plainfield site.  It has been a great opportunity to work with them to find a property that suits their needs and positions them well for success in the region.” 

The eastern Connecticut site, located on the I-395 corridor, is well connected to major highways and regional population centers and features 40 loading docks and a rail spur on site allowing for potential rail access to Providence and Worcester. 

Paul Jarossy
The manufacturing and warehouse space can accommodate parking for over 200 cars and more than 300 trailers supporting seamless freight delivery and product shipping operations.  The site also features high ceilings and generous column spacing.   

“This really is a win-win for both our company and the local community,” said Paul Jarossy, director of business development at Morgan Corporation.  “The community has been incredibly welcoming and we’re looking forward to building our team and becoming entrenched in the local area.  This site and its centralized location really fit our operational and distribution needs.

Formerly a manufacturing plant for American Standard before turning mostly dormant, Morgan Truck Body is the second tenant to infuse new life to the site, joining Staples Distribution Center who occupies approximately 206,000 square feet.

An additional 146,000 square feet of space remains available for lease.  
The facility is Morgan’s 13th in the US and Canada and there are plans to add a 14th in the Midwest in the near future.


Matt Watkins                                       
Watkins Strategies                               

Sean Shortell
Senior Public Affairs Specialist 
Watkins Strategies 

The ConAm Group Names Rob Singh President and CEO

Rob Singh
 SAN DIEGO, CA (Oct. 26, 2018) – The ConAm Group, (ConAm) a San Diego-based real estate investment, development and services firm, has announced that industry veteran Rob Singh has been appointed as CEO in addition to his role as President, coinciding with the firm’s ongoing growth in the industry.

“This new position is a natural progression for Rob, who has been integral in ConAm’s growth and success,” says Dan Epstein, Chairman and Founder of ConAm.

“In the past three years, ConAm has transitioned to a new investment model, raising approximately $300 million in capital for our discretionary funds and development projects, and significantly expanding our property management arm.

Daniel Epstein

"Each of these accomplishments was achieved under Rob’s guidance and direction, therefore making it appropriate to include the CEO responsibilities to his prior role.”

Singh has served as ConAm’s Co-President and CIO for three years, alongside Bob Svatos, who will continue to serve as the firm’s President and COO.

“Rob played a prominent role in the closing of our second and largest fund to date earlier this year at over $130 million,” says Epstein. “This is a true testament to Rob’s leadership and ability to expand ConAm’s business activities.”

Robert J. Svatos
Singh, a 22-year veteran of the company, says, “ConAm has a tremendous track record combined with a strong and very capable in place executive team who are helping to drive the growth and success of the company.

"We are looking to build on our discretionary fund models success, and we anticipate steady growth for our firm in the years ahead.”
As President and CEO, Singh will lead the investment, operational and financial activities of ConAm, while also guiding the firm’s business development including sourcing capital and client relationships.

Singh is an Executive Committee Member of the Board of Directors of the National Multi-Housing Council (NMHC).

He is also a member of the Urban Land Institute, a Policy Advisory Board member for the University of San Diego Burnham-Moores Center for Real Estate, and he serves on the Building Industry Association Presidents’ Council.


Lisa James / Lexi Astfalk
Brower Group
(949) 955-7940