Tuesday, February 26, 2019

George Oliver Sets New Standard for Wellness-Centered Phoenix Office Space

Curt Kremer
PHOENIX, February 26, 2019 – Phoenix-based commercial real estate investment and operating company George Oliver has unveiled plans for its new CASA redevelopment, a 181,188-square-foot, Class A office building in Phoenix’s booming Uptown neighborhood. 

Through a $17 million renovation, George Oliver will re-establish CASA from a 1989-built project, previously known as Catalina Terraces, into next-generation modernized office space focused on a strong sense of community, health and wellness

Alexandra Maw
“This is the first modernized office project of its kind in the metro Phoenix market to put health and wellness at the heart of its design,” said George Oliver Founder and Managing Partner Curt Kremer. 

“We’ve done our best to listen to the demand drivers of the modern-day tenant and deliver an office space complete with all of the services that today’s businesses need to excel – with equally high-quality wellness amenities that curate personal development and deliver a sense of community.”

Ryan Timpani
The CASA renovations will keep with the building’s Spanish architectural roots, including natural wood elements and smooth stucco finishes, and feature updated modern lobbies, restrooms, an exterior facelift and a fresh new landscape package.

Tenant amenities will include a tenant lounge and café operated by Kaleidoscope Juice and a training center with the ability to host approximately 60 guests. It will also incorporate two centralized courtyards with water features and seating that serve as a hub for relaxation and collaboration, and an on-site co-working facility operated by the ownership and accommodating users ranging from one to 10 desks.

Todd Noel
Locally known Kaleidoscope Juice, with locations in downtown Phoenix, downtown Scottsdale and within The Madison and Optima Sonoran Village, will open at CASA in Fall 2019, serving as a hub for “good vibes” and healthy coffee, food and juice options for CASA tenants and guests.

“With its focus on health and wellness, George Oliver’s vision for CASA is a first for Phoenix and runs exactly parallel to our own philosophy,” said Kaleidoscope Juice Founder and CEO Alexandra Maw.

Casa Redevelopment Exterior, Uptown Neighborhood, Phoenix, AZ
“A healthy worker is a more productive worker, and Phoenix is taking the lead in healthy local living, working and eating opportunities. We’re absolutely delighted to take part in this important and innovative redevelopment.”

Additional services at CASA will include a wellness center with a yoga room, brand new fitness center and showers, an on-site meditation room, salon with hair stylist and dog park.

Casa Courtyard Rendering
 The CASA plans also include a two-story dining experience with dedicated food truck parking, climate-controlled space, a shaded outdoor dining area and outdoor games and lounge space.

CASA is located just south of Northern Avenue at 7878 N. 16th Street in Phoenix, minutes from the deep amenity base of 7th Street and Piestewa Freeway/Sate Route 51.

Casa Lounge Rendering
“CASA is carving a creative and unparalleled niche in the greater Phoenix office market,” said Ryan Timpani, Executive Vice President of Colliers International in Arizona, who along with Executive Vice President Todd Noel make up the exclusive leasing brokerage team for the CASA project.

 “Its one-of-a-kind amenities set it apart from the competition as occupiers of space continue to relocate to assets that allow them to attract and retain top talent. With the residential and retail renaissance taking place in the surrounding neighborhood of Uptown Phoenix, CASA is well positioned to lure a diverse and robust tenant base.”

Casa North Patio Rendering
George Oliver purchased the CASA building, previously known as Catalina Terraces, in late 2018 for $16.5 million. Renovations begin in April and will deliver during the third quarter, complete with move-in-ready spec office suites ranging from 2,000 to 8,500 square feet and shell space to accommodate users up to 30,000 square feet.

Arcadia Management will manage the property and staff an on-site concierge. RSG Builders will handle the renovations. Western Alliance Bank is the project lender.

For more information, visit www.uptowncasa.com.

Casa Lounge Rendering
Other successful projects completed by George Oliver include The Quad in Scottsdale, Junction 23 in the RiNo arts district of Denver and Upcycle, located in the trendy Eastside submarket in Austin.

George Oliver LLC is a Phoenix-based, privately owned commercial real estate investment and operating company specializing in transforming obsolete buildings and business parks into first-class, institutional-quality office communities.

 By looking beyond the surface of an asset, George Oliver turns potential into profitability through acquisition, redevelopment/transformation, asset management  and development. 

To learn more or to discuss new project opportunities, visit www.georgeoliver.com.


Stacey Hershauer

Marcus & Millichap Arranges $1.4 Million Sale of 21,730-SF Tower Lake Center Industrial Building in Oldsmar, FL

Jaclyn Blair

 OLDSMAR, FL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Tower Lake Center, a 21,730-square foot industrial property located in Oldsmar, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,400,000.

Tower Lake Center, 107 Dunbar Avenue
Oldsmar, FL
Jaclyn Blair, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was also secured and represented by Blair.

Tower Lake Center is located at 107 Dunbar Ave in Oldsmar, Fla. The property has a history of long-term tenants and high occupancy. The location is central to major metro markets in the greater Tampa Bay area and the immediate area has below market vacancy rates.

Ari Ravi
 The property has been self-managed and self-leased. The pro forma cap rate is nearing nine percent by increasing below market rents. 
The build out for each suite varies and the overall office build-out is less than 30 percent which requires very little tenant improvement when tenants do rollover. 

An association further reduces the management requirements and the property could continue to be self-managed with little effort.


Whitney Davis
Marketing Coordinator
Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
(813) 387-4700 main
(813) 387-4743 direct
(813) 387-4710 fax


Towns at White Cedar in Sanford, FL Gets Ready for Opening-- M/I Homes’ Model Underway at New Community Near SunRail

David Byrnes
SANFORD, FL --- M/I Homes has a model underway at Towns at White Cedar, its newest community of 155 townhomes located on White Cedar Rd. slightly south of SR 46 and one mile west of the SunRail Station in historic Sanford.    

The gated community, spanning 19 acres will begin sales this Spring of new three- and four-bedroom townhomes with 2-½ to 3½ baths, priced from $230,000 to $300,000 according to M/I Homes Area President David Byrnes.

M/I’s townhome floor plans will range from 1,379 square feet of living area to 1,846 square feet.

Historic downtown Sanford and Seminole Town Center with restaurants and entertainment venues are minutes from this community, along with Rinehart Rd. which offers easy access to the Lake Mary job corridor. 

Towns at White Cedar’s close proximity to SR 46 provides quick access to I-4 and the Greeneway Expressway that lead to all Orlando has to offer including international airports.

Towns at White Cedar Rendering
“This community offers security and privacy for commuters to metro Orlando and the Daytona Beach area,” Byrnes said, adding “Homeowners won’t have to sacrifice quality for value and convenience.”  

The model will be completed and ready for touring in early June and a community pool and cabana will get underway by May.


David Byrnes, Area President, M/I Homes,
407-531-5100 dbyrnes@mihomes.com

Beth Payan, Larry Vershel Communications Inc.
407 644-4142 beth@larryvershel.com  

Hold-Thyssen Closes on $962.500 Land Sale in Clearwater, FL

Carol Kinnard

CLEARWATER, FL – Hold-Thyssen, Inc. a full service commercial real estate firm with offices in Clearwater and Winter Park , recently completed the sale of two acres of land at 3200 McMullen Booth Rd. in Clearwater for $962,500.  

Seller Holy Trinity Episcopal Church in Countryside, Inc. made a decision to divest of its excess land adjacent to their sanctuary, choosing Hold Thyssen to represent them.

Transaction Specialist Carol L. Kinnard and Richard Fisher, Vice President of Investor Services worked with the seller to find a suitable partner in the sales process.

Richard Fisher

The buyer, BOSW3, LLC, based in Largo , intends to demolish existing structures to erect a medical office building. The contract to closing was a lengthy process since due diligence required engineering studies and extensive municipal oversight.

 The parcel lies within the City of Clearwater directly across McMullen Booth Road from Morton Plant Mease Countryside Hospital .

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

Anthony Fisher, Vice President, Hold-Thyssen Real Estate Services, 

Robert P. Hold, Principal, Hold-Thyssen, Inc. 
407-691-0505, bhold@HoldThyssen.com

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

Meridian Capital Group Arranges $41.8 Million in Construction Financing for a Dual-Branded Element and Aloft Hotel in Orlando, FL

Rendering of Planned Element Hotel, Orlando, FL

Boca Raton, FL, Feb. 26, 2019 – Meridian Capital Group, America’s most active dealmaker, arranged $41.8 million in construction financing for AD1 Global’s Element and Aloft Hotel project in Orlando, FL.

The 36-month loan, provided by a balance sheet lender, features a LIBOR-based floating rate, two one-year extension options and full-term interest only payments.

This transaction was negotiated by Meridian Managing Director, Noam Kaminetzky, who is based in the company’s Boca Raton, FL office.

Noam Kaminetzky

Located at 5730 Central Florida Parkway at the corner of International Drive, the property will stand seven stories tall and contain a total of 284 keys.

The two projects are Marriott’s stylish boutique Aloft Hotel, which will contain 140 rooms, and nature-inspired Element Hotel, which will contain 144 rooms.

Shared amenities will include a saltwater outdoor pool, laundry and valet services, and fitness and business centers. The Element will offer guests complimentary breakfast while the Aloft will feature a bar and restaurant along with 4,000 square feet of conference space.

The property will be located approximately a mile from Sea World and Aquatica and less than 10 miles from Disney Springs, Ripley’s Believe it or Not, and Epcot, with the remaining Disney parks and the Orlando International Airport accessible in less than 20 minutes by car.

Jon McMillian
“This property complements our growing portfolio in the Orlando area,” said Jon McMillian, AD1 Global Corporate Director of eCommerce and Marketing. “Orlando is a very hot market fueled by spectacular growth in tourism with a record 72 million visitors in 2017 and growing.

"I think when 2018’s official numbers are released it will set a new record, and the future is even brighter with Disney planning to open Star Wars Land at the end of this year.”

“This fantastic project will be ideally located near all major area attractions,” said Mr. Kaminetzky. “Meridian, the sponsor, and the lender worked closely to structure a deal that provided up to 75% loan-to-cost non-recourse senior debt, allowing the sponsor to then layer on EB-5 capital to maximize the return on equity for the deal.”

Rendering of Marriott's planned Aloft Hotel, Orlando, FL
Founded in 1991, Meridian Capital Group is America’s most active dealmaker and one of the nation’s leading commercial real estate finance, investment sales and retail leasing advisors.

In 2018, Meridian closed over $37 billion in financing through more than 3,500 transactions across more than 250 unique lenders and sold nearly $1 billion in commercial property.

 Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, and healthcare and senior housing properties.

Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida, and California.


 Jonathan M. Stern
Managing Director
Meridian Capital Group
Direct: 212.612.0181

1 Battery Park Plaza, 26th Floor
New York, NY 10004
Fax: 212.201.5181

KAI Hires Matt Westphal as President of KAI Design and KAI Engineering

Matt Westphal
St. Louis, MO,  Feb. 26, 2019 --  KAI announces the appointment of Matt Westphal as President of KAI Design and KAI Engineering.

Prior to joining KAI, Westphal was the President of Hospital Designers, Inc., a subsidiary of HBE. Over the past nine years, he successfully led a team of 100+ architects and engineers specializing in the design-build of healthcare projects across the United States.

Michael Kennedy Jr.
Westphal has a Bachelor of Science in Engineering with an Emphasis on Structures from the University of Illinois at Urbana-Champaign and a Master of Science in Civil Engineering and a Master of Business Administration from Southern Illinois University at Edwardsville

CEO Michael Kennedy, Jr. announced in January that KAI had undergone a corporate restructuring as parent company KAI Enterprises with four new subsidiaries—KAI Design, KAI Engineering, KAI Build and KAI 360 Construction Services (KAI 360 CS)—each with its own president.

 Darren L. James, AIA, a shareholder with the firm since 2010, transitioned to President of KAI Enterprises, overseeing the holding company.

“Matt was an excellent candidate for this new position,” said James. “His previous work experience combined with his attention to detail and his strong leadership skills were exactly what we needed to lead the new KAI Design and KAI Engineering.”

Darren L. James
Westphal is responsible for leading, managing and maintaining accountability for the KAI Design and KAI Engineering companies. To enhance KAI’s multi-office approach to executing work, Westphal will travel between offices in Atlanta, Dallas and St. Louis.

“I am thrilled to be appointed to this new dual position at KAI,” said Westphal. “This is an exciting time for the company, with the restructuring and the rebrand. I am really proud to be playing a key role in KAI’s efforts as they continue to grow.”


Jennifer Beidle

International Artist Steve Marcus Introduces New Solo Exhibition in Miami Beach, FL

Steve Marcus
MIAMI BEACH, FL -- Introducing a new solo exhibition by internationally acclaimed artist, Steve Marcus, titled Through The Hat: The Art of Steve Marcus.

The exhibition opens March 6, 2019 and runs through May 21, 2019. 

The Jewish Museum of Florida- JMOF-FIU's first exhibition after renovations of their main gallery will be Through The Hat: The Art of Steve Marcus.

Sid Kaplan

JMOF-FIU is the only museum dedicated to telling the story of more than 250 years of Florida's Jewish history with a growing collection of more than 100,000 items.  

LOCATION AND HOURS: The Jewish Museum of Florida: 301 Washington Avenue, Miami Beach, Florida, 33139. Phone: 305-672-5044. Open Tuesday-Sunday from 10am-5pm, closed Mondays and holidays. 

Marcus has been a consistent trailblazer in both mainstream and underground cultures. The exhibition is accompanied by photos of the artist at work by legendary photographer Sid Kaplan (of "Vanishing New York" fame).

Allison Freidin
(Co-Host of Exhibition)
Among the portraits: The Wandering Jews, 2018. Pen and Ink, Giclee’ Print on Nyodo Kozo 44 gsm 36 W x 18 H - Steve Marcus - New York City, USA

Through The Hat includes more than 26 wood-carved sculptures and Jewish ritual objects, more than a dozen hand-drawn works, and custom synagogue furniture.

Marcus seamlessly weaves his Proustian childhood memories of the culinary tastes of Jewish New York with his personal journey and passion for his own roots and culture.

In Through the Hat, Marcus has created a folk/cartoon world that is the Kosher cousin of those created by artists Alexander Calder and Red Grooms. His beautifully crafted renditions of Jewish life in New York City celebrate a culture of orthodoxy and unorthodoxy in all their splendor.

Alan Ket
(Co-Host of Exhibition)
Regarding art today, Marcus says, "In the era of globalization, the ugliness of cultural appropriation has become rampant, as various outside cultures are now easily accessible with the assistance of the Internet and social media platforms.

"The digital age specter of colonialism, imperialism, and social Darwinism disseminates information and imagery at a dystopian pace.

"These digital platforms socially engineer the world’s population with homogenized source materials and value systems with extreme prejudice, and an unending flow of content feeds the world’s appetite for conflict and entertainment, offering a variety of consumer identities recognizable the world over.”

Created by Steve Marcus and will be on exhibit
 Marcus (aka smarcus) has received honors and awards from the American Society of Illustrators; has several works in the permanent collection of the Oakland Museum of Art in California, as well as in private art collections worldwide; and has collaborated with Allen Ginsberg, Ken Kesey, Timothy Leary, The Norman Mailer and Miguel Pinero Estates, and The Red Hot Chili Peppers.

 His work has been featured in High Times Magazine and the Cannabis Cup, New York Times, MTV, The Tibetan Freedom Concerts, The Source, Conde Nast Publications, Esquire and posters for the world famous Fillmore in San Francisco.