Thursday, May 2, 2019

Daum Commercial Directs Acquisition of Prime Infill Land Parcel in North Orange County, CA

Chris Migliori
La Habra, CA – DAUM Commercial Real Estate Services recently directed the acquisition of an 8.67-acre land parcel in the North Orange County city of La Habra, California on behalf of the buyer, West Harbor Capital, a Torrance, California-based private equity investment firm.

The site is located at 551-555 South Harbor Boulevard in La Habra, California and is now available for lease or sale, with the potential to be divided into two parcels. Construction is expected to be completed in Q3 2019.

West Harbor Capital, which focuses exclusively on the investment and asset management of industrial properties throughout Southern California, plans to complete horizontal development at the site for surface industrial use, according to Chris Migliori, Executive Vice President at DAUM’s Newport Beach office.

Migliori represented both the buyer and the seller, Harbor Blvd., Investments, LLC, alongside DAUM’s Paul Gingrich, also an Executive Vice President at the Newport Beach office.

Paul Gingrich
“The need to accommodate last-mile eCommerce delivery is driving tremendous market demand for varying types of industrial space in close proximity to population centers,” explains Migliori.

“Operators looking for properties with surface storage space are experiencing an especially difficult time due to vertical development in the already tight market.

"Our Client strategically identified an opportunity to acquire this infill land parcel and bring to market a spacious fully paved, fenced, and secured storage yard, which also leaves room for potential future development.”

Migliori notes that the site is well located in the highly competitive North Orange County submarket, which posted sub-3-percent vacancy rates at the end of 2018, according to a DAUM market report. The location offers close proximity to freeways including State Routes 57, 91, 60, as well as Interstate 5.

Adam Deierling, Managing Partner of West Harbor Capital, states:

“We were fortunate to have exceptional partners on this project. The DAUM team is extremely well-versed in this type of transaction. Their efforts and professionalism in bringing all parties together were instrumental to closing the transaction.

Adam Deierling
"We also worked hand-in-hand with the city of La Habra, a municipality with great foresight and leaders who truly understand the dynamics of the industry and our project’s impact on the local community.”

Deierling also notes that this acquisition of this site is well-aligned with the firm’s business strategy to acquire industrial properties and land sites in infill locations across Southern California.

Additionally, the site presents the opportunity for further build-to-suit development of an up to 150,000 square-foot warehouse building.


Elisabeth Manville / Micaela Fehrenbach
(949) 438-6262

Pinstripes Expands Footprint with Brookfield Properties Partnership

Sandeep Mathrani
CHICAGO, IL (May 2, 2019) – Pinstripes, Inc. announced today their partnership with Brookfield Properties to open three new locations.

Dale Schwartz
 With a minority equity investment in Pinstripes, the real estate company has identified additional locations for the dining and entertainment concept at various Brookfield Properties assets throughout the United States.

Susan Walmsley

“Our retail properties are a hub for daily life, and today’s consumer expects a great experience that features dining, entertainment and celebrates community,” explains Sandeep Mathrani, CEO of Brookfield Properties and Vice Chairman of Brookfield Property Group. 

Karen Katz
“This type of tenant offering has grown throughout our portfolio in recent years, and our partnership with Pinstripes is a natural collaboration that represents evolution in our industry. We look forward to introducing the Pinstripes concept to new markets.”

Pinstripes currently has one location within Brookfield Properties’ portfolio, at the renowned Oakbrook Center outside of Chicago. 

Jack Greenberg

The new locations are slated to open at Streets of Southpoint in Durham, N. Carolina, Halley Rise in Reston, Virginia and will be an addition to the highly anticipated SoNo Collection in Norwalk, Connecticut.

"We are excited to work with Sandeep and his team to further transform the retail experience and offer our guests a magical venue to connect with each other", stated Dale Schwartz, Founder/CEO of Pinstripes. 

"Our unique combination of dining and entertainment is an ideal tenant for Brookfield Properties, and this partnership will further enable Pinstripes to accelerate its expansion plans of opening over 100 locations throughout the U.S. and overseas over the next several years.”

Yorgo Koutsogiorgas
   In anticipation of these expansion plans, Pinstripes recently hired Susan Walmesley, formerly Vice President of Marketing with Topgolf, as its Chief Marketing Officer, and prior to that Rob Hense, former head of real estate at both Apple and Crate & Barrel, as its Chief Development Officer.

 These two seasoned hires have considerable expertise in scaling experiential brands and complement the balance of the Pinstripes executive team. 

Moreover, the Company also recently added Karen Katz, former CEO of Neiman Marcus, as an Advisor. Her branding and operational expertise, in particular, will be of tremendous value to the Company, and she joins a Board that includes, among others, Jack Greenberg, former Chairman and CEO of McDonald’s Corporation, and Yorgo Koutsogiorgas, former SVP of Maggiano’s and the current CEO of Giordano’s.

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Sarah Ficek/Gianna Fontana

Ackerman & Co. Purchases 3-Building, 123,900 SF Portfolio North of Atlanta, GA for $5.5 Million

Leo Wiener
Atlanta, GA Continuing its focus on acquiring strategically located industrial/flex properties, Ackerman & Co. has purchased a three-building, 123,900-square-foot portfolio in Norcross, Ga., comprising a mix of industrial, flex and retail space.

Ackerman purchased the buildings, located at 6889-6901 Peachtree Industrial Boulevard, from Mimms Enterprises for $5,500,000 ($44.39/SF) and will rename the property Peachtree Corners Exchange.

Evan Ziegler
 The acquired properties include 6889 Peachtree Industrial Blvd. (24,800-square-feet retail/ showroom/flex), 6899 Peachtree Industrial Blvd. (70,000-square-feet industrial/flex) and 6901 Peachtree Industrial Blvd. (29,100 square feet industrial/flex).

 Ackerman & Co.’s Leo Wiener and Evan Ziegler led the acquisition effort on behalf of Ackerman & Co.

David Beak of NAI Brannen Goddard represented seller Mimms Enterprises. Ackerman’s Frank Farrell and Chris Miller will lead leasing efforts at the properties.

David Beak
 “This purchase is part of our ongoing investment strategy to acquire close-in industrial product strategically located near the I-285 perimeter,” said Kris Miller, President of Ackerman & Co.

“The property was purchased at well below replacement costs, and we believe this opportunity gives us an irreplaceable location and the ability to offer rents at very attractive rates, consistent with our close-in industrial investment strategy.”

The showroom and retail space at 6889 Peachtree Industrial Boulevard benefit from excellent visibility from busy Peachtree Industrial Boulevard.

Kris Miller
6899 and 6901 Peachtree Industrial Boulevard feature 20-foot ceiling heights, 8’ by 10’ dock-high doors and 10’ by 10’ drive-in doors. 

 Ackerman plans to invest in major capital improvements which will include a variety of physical upgrades to meet current demands of tenants in the market.


 Steve Webb 

Industry Veteran John Maurer Returns to EverWest to Direct Flagship Open-End Core Fund

John Maurer

DENVER, CO (May 2, 2019) – EverWest Real Estate Investors has hired industry veteran John Maurer as Senior Vice President of Portfolio Management.
Maurer, who will be based in Denver, will direct EverWest’s flagship series of open-ended funds, which were added to the company in February 2019 via the acquisition of Guggenheim Real Estate LLC by EverWest’s parent company GWL Realty Advisors Inc. (GWLRA).
“John brings a strong track record as a senior portfolio manager of open-end funds and strengthens our fund management capabilities,” said EverWest CEO Rick Stone.
Maurer has more than 30 years of institutional real estate investment management experience in all property sectors. His previous roles include Senior Vice President of Portfolio Management for Bell Partners, Inc., Co-Founding Partner at Arsenal Real Estate Funds and Lead Portfolio Manager of PRISA III, an open-end fund at Prudential Real Estate Investors (now PGIM).  
Maurer also served at EverWest as a Managing Principal and Head of Investment Strategy.

Rick Stone
“I am excited to return to EverWest to focus on the USPF flagship fund,” said Maurer. “EverWest’s extensive local market knowledge coupled with GWLRA’s commitment to USPF will maximize results for investors.”
USPF will continue to be available for U.S. and international institutional investors as well as their consultants through existing channels. USPF will also be made available through Great-West Lifeco’s extensive global platform which includes distribution channels in the United States, Canada, the United Kingdom, Ireland and Europe.

Stacey Hershauer
P 480.600.0195

HFF closes sale and arranges financing of Westlake Place in Austin, TX

Cathy Nabours

AUSTIN, TX –– HFF announces that it has closed the sale and arranged financing for WestlakePlace, a five-story office building totaling 61,740 square feet in Austin, Texas.

HFF marketed the property on behalf of the seller, Moore & Associates, Inc., and procured the buyer, Oakpoint Real Estate.  Additionally, HFF worked on behalf of the buyer to secure the 10-year, fixed-rate acquisition loan through Lincoln Financial Group. 

WestlakePlace, a five-story. 61,740 SF office building, 1515 South Capital of Texas Highway in the hills of Southwest Austin, TX

OakPoint acquired the asset using a portion of a $50MM capital infusion they received last year and is seeking additional investments in the Austin and Nashville MSAs.

OakPoint plans to invest in additional capital improvements in order to further enhance Westlake Place’s desirability for tenants.

Walter Saad
Westlake Place has an irreplaceable location at 1515 S. Capital of Texas Highway in the hills of Southwest Austin. 

The 2.5-acre site offers superior visibility and positioning along Loop 360 and access to a highly amenitized area featuring the Village at Westlake Shopping Center and Barton Creek Square, among others. 

Additionally, the property is surrounded by some of Austin’s most prestigious neighborhoods, including West Lake Hills, Rollingwood, Rob Roy, Barton Creek and Lost Creek, and has an average household income within one mile of the property of more than $225,000. 

Drew Fuller
 Renovated in 2015, Westlake Place has average floor plates of 12,500 square feet, offers scenic hill country and downtown views and is 92% leased. 

The HFF investment advisory team representing the seller included managing directors Cathy Nabours and Walter Saad and director Drew Fuller.

Chris McColpin

HFF’s debt placement team representing the new owner was led by senior director Chris McColpin.

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

About Moore & Associates, Inc.

Moore & Associates, Inc. is an owner-managed, full-service commercial real estate investment, development and management firm serving affiliated and independent clients throughout the Washington, D.C. and Austin, Texas metropolitan areas.


TX Lic. #479015
HFF Managing Director
(512) 532-1962

HFF Senior Director
(512) 532-1941

HFF Director, Public Relations
(617) 338-0990

HFF arranges $30 million refinancing for Corporate Parkway North in Phoenix, AZ

Zack Holderman

 SAN DIEGO, CA – HFF announces that it has arranged a $30.1 million refinancing for Corporate Parkway North, a 225,523-square-foot, recently renovated, office property in the Deer Valley submarket of Phoenix, Arizona.

HFF worked on behalf of the borrower, Second City Real Estate, to secure the refinance. 

Corporate Parkway North is situated on 18.99 acres at 16404 N Black Canyon Highway just west of Interstate 17 in the Deer Valley submarket of Phoenix.  \

Phoenix consistently ranks as one of the top metro areas for population growth and the city has added more than 78,000 jobs over the last 12 months (as of September 2018) driven largely by corporate expansion, access to a talented workforce and a high quality of life. 

Olga Walsh

Renovated in 2018, Corporate Parkway North features two stories of office space with average floor plates of 112,761 square feet.

The HFF debt placement team representing the borrower was led by senior director Zack Holderman and senior managing director Jeremy Womack as well as senior associate Olga Walsh.

Jeremy Womack
“The successful refinance of Corporate Parkway North is a testament to the excellent business strategy and professionalism demonstrated by the team at Second City,” Holderman added.  “Their ability to identify assets in select markets, enhance, and stabilize performance has been proven time and again.” 

About Second City Real Estate

Headquartered in Vancouver, BC, Second City Real Estate is a private equity partnership dedicated to sourcing and maximizing value from real estate transactions.

Since 2011, the firm’s related entities have completed over $2.4 billion of property acquisitions across a variety of markets. Second City Real Estate is a value creation leader in the mid-market sector.


HFF Senior Director
(858) 552-7690

HFF Senior Managing Director
(602) 648-8700

HFF Director, Public Relations
(617) 338-0990

CHMWarnick Names Diane Tanner Fox (CHAM) Senior Vice-President

Diane Tanner Fox

 CHICAGO/BOSTON/PHOENIX – CHMWarnick, hotel asset manager and business advisor to the hospitality investment community, announced Diane Tanner Fox, CHAM (Certified Hotel Asset Manager), has been named senior vice-president. 

 In her new role, Fox will be responsible for maintaining and strengthening CHMWarnick’s Midwestern presence through the establishment of a Chicago office.
                “Diane is a highly-respected industry executive whose vast experience, capabilities and impressive track record of maximizing all aspects of hospitality real estate makes her a valuable addition to our team,” said Chad Crandell, CEO and managing director, CHMWarnick. 

 “Her two-plus decades of hotel investment experience include numerous roles, ranging from acquisition and development to hotel asset management for both public and private entities. 

Chad Crandell

"She brings a multifaceted dimension to CHMWarnick, having successfully enhanced the value of hotels and portfolios within luxury, select- and full-service segments.”

Fox has asset managed hotels, resorts and large-scale portfolios in primary and secondary markets across the country, with more than a decade in the Midwest, representing knowledge and experience in an important region for CHMWarnick clients.

 Roughly a quarter of the 70 hotels and 29,000 rooms in CHMWarnick’s asset management portfolio are located in the Midwest, including some of the country’s leading convention center headquarter hotels, such as the Hyatt Regency and Marriott Marquis at Chicago’s McCormick Place, Hilton Cleveland Downtown, Hilton Des Moines Downtown and the Detroit Marriott at the Renaissance Center.

Rich Warnick
                “Diane brings tremendous versatility to our group, both in terms of product tier and market experience with firm roots in the Midwest," remarked Rich Warnick, co-chairman and managing director of CHMWarnick.

   "While CHMWarnick has actively asset managed properties throughout the region since 1998, the recent surge in hotel development and client investment activity in the Midwest makes this the ideal time for us to establish an office in the Chicago area.

 "Diane is a strategic hire, one of the best in the business, and the perfect candidate to enhance our team to drive value for our hotel investment clients in the Midwest and beyond,”

                Most recently, Fox served as executive vice-president of a national hotel asset management firm, where she oversaw the company’s West Coast portfolio of 14 hotels totaling approximately $1 billion in asset value. 

Prior to that, she held the position of senior vice-president of asset management with Waterton, a Chicago-based real estate investment and property management company with a focus on U.S. hospitality, multifamily and senior living properties. 

While there, she was responsible for a  portfolio of 10 hotels totaling approximately $500 million in value. 

Fox also has worked for such prestigious organizations as Clarion Partners as senior vice-president of asset management, Hilton Hotels Corporation as vice-president of development for the south-central region, and CNL Hospitality Corporation as vice-president of portfolio management.

She is an active member of HAMA (Hospitality Asset Managers Association) and represents the seventh member of CHMWarnick’s professional team to hold the coveted CHAM designation, an advanced certification in hotel asset management held only by 39 individuals worldwide. 

Hyatt Regency at McCormick Place, Chicago, IL
Fox graduated from Cleveland State University with an M.A. in public administration and a joint B.A. in business administration and marketing.

                “CHMWarnick has a tremendous team and unmatched coast-to-coast presence in the third-party asset management field,” Fox said.  
“The CHMWarnick team is focused on delivering the best results for their clients. They have created an organization focused on value creation by building out a team of seasoned asset managers who cross-share ideas and best practices.

"Also, they have invested in developing Proph+IT, a technology platform that allows the asset management team access to state-of-the-art detailed benchmarking and analytics. I look forward to helping further establish our Midwestern footprint as we continue to grow.”


Chris Daly
 Daly Gray Public Relations
Phone: 703-435-6293