Tuesday, March 26, 2019

RAF Pacifica Group Acquires Five Creative and Value-Add Properties in Coastal Carlsbad, CA for $59.6 Million

Adam Robinson

SAN DIEGO, CA – RAF Pacifica Group (RPG), a San Diego-based owner, operator, and developer of high-quality commercial real estate, has added to its portfolio of creative and value-add assets in Northern San Diego County with the acquisition of five properties totaling six buildings in the Carlsbad, California, market.

Aric Starck
RPG purchased the properties, comprising one two-building creative-office campus, three creative-industrial buildings, and one value-add industrial building, for a total consideration of $59.6 million.

“As these five acquisitions demonstrate, we have been extremely active in the Carlsbad market,” says Adam Robinson, President of RPG.

 “The properties align perfectly with our firm’s strategy of owning well-located, modern, creative and value-add assets in North County. Carlsbad attracts a tenant mix consisting largely of biotech, cleantech, communications, and action-sports companies, and we are in an ideal position to meet their real estate needs with these properties.”

Rick Reeder
            RPG acquired a 67,528 square-foot, value-add single-tenant industrial property at 6305 El Camino Real in Carlsbad, California, from an institutional owner for $10.5 million.

Aric Starck of Cushman & Wakefield represented both RPG and the seller in the transaction.

RPG purchased three properties in the Carlsbad Research Center in Carlsbad, California, from A&M CapRE Aston, LLC: 2320 Faraday Avenue, 2320 Faraday Avenue, and 1905 Aston Avenue.

Starck of represented both RPG and the seller in the transaction.
RPG has acquired another fully leased property in Carlsbad, California: Avenida Crossing, a newly renovated, two-building, 68,392 square-foot, multi-tenant contemporary creative office campus at 5993 and 5999 Avenida Encinas.

Dennis Visser
The property, which was purchased from Avenida Encinas, LP for $23.9 million, is near the Carlsbad Research Center, in close proximity to the beach, trains, and retail amenities.

Starck, Rick Reeder, and Dennis Visser of Cushman & Wakefield represented both RPG and the seller in the transaction.


 Lexi Astfalk
Brower Group
(949) 438-6262

KW Property Management & Consulting Wins 2019 Readers’ Choice Diamond Award from Florida Community Association Journal

Paul Kaplan

MIAMI, FL –– KW Property Management & Consulting has received the Diamond Award in the 2019 Florida Community Association Journal’s Readers’ Choice Awards. Taking home honors in the Management category, the Diamond Award is the highest level of recognition.

The FLCAJ Readers’ Choice Awards acknowledge the top community association providers in the state of Florida, recognizing their positive and productive contributions.

“Being recognized by Florida Community Association Journal for the third year in a row is an honor,” said KWPMC Managing Director and Co-Founder Paul Kaplan. “To be audience-voted makes this recognition extra special, as it shows our team is committed to building relationships and providing exemplary residential hospitality service.”

Robert White

“This award is a testament to how hard our team works every day,” said KWPMC Managing Director and Co-Founder Robert White. “We are looking forward to continuing the partnership with associations across the state and to fostering new relationships with additional communities in 2019 and beyond.”

 In the sixth annual round of voting, more than 8,400 online votes were cast for over 500 companies that serve an exemplary level of proficiency, reliability, fairness and integrity.

KWPMC has been recognized by Florida Community Association Journal’s Readers’ Choice awards since 2017.

From upscale high-rises, to homeowners’ associations and garden-style townhomes, KW Property Management & Consulting meets the needs of nearly 75,000 unit owners.


Jasmin Curtiss

Account Executive, BoardroomPR

O 954-370-8999
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322

OTL Continues Global Expansion; Appoints John S. Cunningham New Vice President of Operations to Oversee Growth

John S. Cunningham

ORANGE COUNTY, CA – As a continuation of its global growth initiativeOutside the Lines (OTL), a design-build construction company that specializes in creating one-of-a-kind water features, fountains, rockwork and themed environments, has announced that 21-year construction veteran John S. Cunningham has been named Vice President of Operations to accommodate the firm’s ongoing international expansion.

“Demand for fountains and themed environments has ramped up dramatically, resulting in a wide variety of new projects for the OTL team across the globe,” says J. Wickham Zimmerman, Chief Executive Officer of OTL.

 “Driven by a rapid increase in the development of mixed-usedestinations as well as a continued focus on innovative, technology-driven water features and environments, today’s developers and owners are seeking solutions that make their properties stand out from the competition.”

OTL is currently working on projects in nine U.S. states, with project experience from coast to coast, and in a host of international destinations including Korea and Egypt, among others. 

In his new role, Cunningham will oversee OTL’s project teams in these regions while also levering his depth of knowledge in organizational management to support OTL’s continued efficiency.

“We are in a period of rapid growth, which requires us to be scalable and to ensure that our roles and processes remain well-defined in order to maintain the exceptionally high standard of excellence for which OTL is known,” says Cunningham.

J. Wickham Zimmerman
“John has the energy, experience, and integrity to serve as the leader we need to guide this expansion,” says Zimmerman.  “While he initially joined the OTL team as a regional manager to build our Dallas office, his new role positions him to further grow our operations company-wide.”

Prior to OTL, Cunningham was a branch manager for BrightView (formerly ValleyCrest Companies), where he directed operations for the company’s $25 million North Texas, Oklahoma, Arkansas, and Louisiana region.

During his 14-year tenure there, Cunningham provided executive leadership for high-priority projects including the Devon Energy World Headquarters in Oklahoma City, Klyde Warren Park in Dallas, Kimbell Art Museum and Facebook Data Center in Fort Worth, and the Toyota North American Headquarters in Plano, Texas.


Alex Caswell / Lexi Astfalk
Brower Group
(949) 438-6262

CBRE Global Investors Unveils Plans for Tanner Point Office Building in Portland, OR

Rendering of Planned Tanner Point Class A office Building, 9th Avenue and Overton Street, Pearl District. Portland, OR

PORTLAND, OR --  CBRE Global Investors announced plans for Tanner Point, a new Class A creative office building totaling 182,851 square feet at the corner of 9th Avenue and Overton Street in Portland’s Pearl District.

Kevin Kaufman
 At the street-level, Tanner Point will feature 5,100 square feet of vibrant retail and restaurant offerings, including a coffee shop, bar and “grab-and-go” sandwich shop.

CBRE GI acquired the eight-story spec office building, formerly named 9North, last fall upon its delivery to market. The building currently boasts an expansive lobby with reclaimed wood, a fireplace and areas for soft seating that encourage formal and informal meetings. 

Tanner Point also has extensive bike storage along with locker and shower rooms. The company is investing $1.25 million in additional improvements that will include flexible meeting spaces among other amenities and retail offerings.

Boasting expansive floorplates, tech-enabled creative space, common areas for coworking, rooftop terraces, access to waterfront trails and spectacular views of Mt. Hood and the Willamette River, Tanner Point will also incorporate new amenities tailored for start-ups and the TAMI sector.

Jake Mota
“Tanner Point is one of the only multi-tenant office options in the Pearl District, and offers the rare combination of cutting-edge workspace and community-driven amenities that are sought by the technology, media and IT companies who are flocking to this area,” said Jake Mota, Senior Director at CBRE Global Investors. 

“The deep pool of professional talent and walkable retail, dining and entertainment options signal a bright future for Tanner Point. We are fielding several inquiries from prospective tenants, and look forward to sharing more news in the near future.”

The array of new amenities include game rooms, food and catering service, group exercise classes including yoga, hotel-style lounges, on-demand dry cleaning, dog walking and flexible meeting spaces. The versatile congregation space is designed in a manner that allows tenants to casually mingle and converse.

Autumn Brice
Designed by award-winning Hacker Architects and pursuing LEED Silver certification, the property incorporates industrial modern architecture inspired by the Pearl District’s gritty, manufacturing-based history. 

Expansive sight lines and operable windows throughout the building provide abundant natural light and fresh air, creating a biophilic-friendly environment that boosts employee engagement and productivity.

Located one half block from the Willamette River and directly adjacent to Union Stationthe building also provides a bird’s eye view of noise-free passing trains from Amtrak and light rail providers.

 In addition, tenants will enjoy access to waterfront trails leading to nearby Tanner Springs Park and Fields Park. The building also offers convenient access to I-405 and I-5.

Trevor Kafoury
“Tanner Point is an energized workplace and will deliver a new level of tenant-focused service,” said Kevin Kaufman, First Vice President at CBRE. 

The companies who do business here will find this isn’t just a place to work, but a community that inspires collaboration and innovation for years to come.”                                                                                                                                                                                  
Floor plans ranging from 19,600 to 28,800 square feet are currently available throughout the building.

Kevin Kaufman, Autumn Brice and Trevor Kafoury from CBRE are overseeing leasing at Tanner Point. 


 Nick Banaszak
The Wilbert Group
256-457-5384 (C)

Fogelman Properties Names Drew Taylor Senior Vice President of Asset Management

Drew Taylor

MEMPHIS, TN, March 26, 2019 -- Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the appointment of Drew Taylor as the Senior Vice President of Asset Management.

Taylor brings more than 25 years of multifamily asset management and property management experience to the newly created role at the Memphis, Tenn.–based multifamily real estate services company.

He will be a key player in driving the implementation of investment plans, tracking and maximizing the investment portfolio and collaborating across the property management, investment management and construction management teams.

The new SVP of Asset Management will work closely with the executive team in overseeing Fogelman’s real estate investments and maximizing the returns of holdings.

Rick Fogelman

“With the rapid growth of the Fogelman real estate investment portfolio over the past several years, we are thrilled to add Drew to our senior leadership team,” says Rick Fogelman, CEO of Fogelman Properties.

“Drew offers the complete package with a deep understanding of the multifamily industry and decades of experience in asset management.”

The real estate professional joined Fogelman after serving as the SVP of Asset Management for LEDIC Realty and previously the EVP and Director of Asset Management for Mid America Apartment Communities (MAA). Taylor earned his bachelor’s from Vanderbilt University and MBA from Trevecca Nazarene University.


Brittanie Price
BCENE Public Relations

www.fogelman.com or follow on FacebookTwitter and Instagram.

Fogelman Properties Doubles Yearly Acquisition Growth

Rick Fogelman

MEMPHIS, TN -- Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce that is acquisition activity grew more than 100% from 2018 to 2019, including more than 2,000 units across six multifamily communities over the past 12 months.

 The Memphis, Tenn.-based company recently closed $135M in the first quarter of 2019 with the acquisition of Artesian on Westheimer, in Houston with DRA Advisors, and Crestmark Apartments in Atlanta with Thackeray Partners.

 “This year we focused efforts on several key markets including Atlanta, Central Florida and major Texas metro areas” says Mike Aiken, VP of Acquisitions at Fogelman.

Mike Aiken

“Specifically, we elevated our portfolio with acquisition targets that allowed our company to leverage its vertically-integrated operating team and long-term, local presence in these markets.”

 With the expanded portfolio and target of an additional $200M in acquisitions for the remainder of 2019, Fogelman is one of the most active buyers in the country.

Fogelman currently manages more than 28,000 units across 10 states, totaling more than $4B of managed assets. The company’s national portfolio has experienced an average occupancy of 95% in 2018 and projected revenue growth of 3%.


Brittanie Price,
 BCENE Public Relations
www.fogelman.com  or follow on FacebookTwitter and Instagram.

JLL completes $10 million sale of Higley & Baseline Class A office property in Mesa, AZ

5416 East Baseline Road, Mesa, AZ

Brian Ackerman
PHOENIX, AZ – On behalf of James Greaves with G2 Capital, JLL has completed the $10.06 million sale of 5416 E. Baseline Rd., a two-story, 63,834-square-foot Class A office building located within Inverness Commons Business Park, in the hub of Mesa, Arizona’s booming Higley Road medical corridor. 

Submarket stability, combined with recent and extensive renovations, have the building 92 percent leased to a broad base of tenants.

JLL Senior Vice President  Brian Ackerman represented G2 Capital in the transaction. 

The buyer is Minnesota-based Founders Properties LLC. JLL Managing Directors Mark Gustin, Karsten Peterson and Dave Seeger are the building’s exclusive leasing brokers.

Mark Gustin

“There is exponential growth happening along the Higley Road corridor – both in the medical arena and through non-competing new developments that are adding retail, restaurant, residential and hotel services,” said Ackerman. 

“G2 Capital recognized the long-term potential of this growth and, through renovation, has established this building with a very strong tenancy and cash flow that will serve it well in the years ahead.”

The 5416 building is located on Baseline Road, just east of Higley Road and immediately south of the US 60 freeway.

Karsten Peterson
 A recent $2.3 million building renovation improved the property with new lobbies, upgrades to hallways and tenant spaces, new landscaping and a new parking lot offering a parking ratio of 5.86/1,000.

The building is 92 percent occupied with an average lease term of over five years. Acumen Fiscal Agent LLC and Ring Inc., owned by a Fortune 10 company, are the project anchors. 

Other tenants include Sharecare Health Data Services LLC, Fairway Independent Mortgage Corporation, Confident Financial Solutions and Cardiovascular Associates of Mesa.

Two additional vacant suites are available within the building, totaling 2,231 and 2,024 square feet. Both have been newly renovated and are move-in ready.

Dave Seeger

“All interior spaces allow for a creative build-out with 12-foot ceilings and an open-air environment,” said Ackerman. 

“That is something that is not achievable at many nearby office buildings and is a huge benefit for tenants wanting this type of modern workspace.”

The 5416 building sits within a major medical node and employment hub that includes Banner Gateway Hospital, Banner MD Anderson Cancer Center, Davita/Southwest Kidney Dialysis and the Arizona Health and Technology Park, home to A.T. Still University’s Arizona campus. 

Contact: Stacey Hershauer
Phone: +1 480 600 0195

The Castell Project Launches $1 Million “Ladder Up” Capital Campaign

Patty Berg

ATLANTA, GA – Officials of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry, has launched its “Ladder Up” capital campaign.  

With a goal to raise $1 million dollars, the organization also announced that Hilton has signed on as the lead sponsor with a $100,000 donation to launch the campaign. 

“While myriad international studies show that companies with gender diverse leadership drive higher profits, female representation at the higher levels of the hospitality industry is lacking,” said Peggy Berg, president, Castell Project, Inc.  

“The Castell Project is taking active steps towards seeing women hold a minimum of one in three leadership positions, including ownership, at all levels of the hospitality industry.  These funds will be used to help women climb the corporate ladder as we reach for this goal.”

Monies raised will be used to:
  • Fund participation for women in Castell leadership development programs at all levels
  • Drive awareness of the critical need for gender diversity and engagement in the hospitality industry
  • Deliver useful benchmark research, including Castell Project annual report.
Dianna Vaughan

“We are proud to be recognized by Great Places to Work® as the #1 Best Place to Work in the U.S. and Fortune magazine as one of the 100 Best Workplaces for Women in 2018,” said Dianna Vaughan, senior vice president and global head , All Suites brands, Hilton.

 “We are committed to supporting, promoting and increasing diversity in the hospitality industry and excited to continue the work we’re doing through our partnership with the Castell Project.”

“Ladder Up” is seeking benefactors at levels between $5,000 and $100,000.  Castell will recognize sponsors through various mediums, including website and campaign materials promotion.  

Please visit www.castellproject.org to make a pledge.


    Chris Daly, media
      (703) 435-6293