Stirling Development Names Gordon L. Cope as Director, Financial Planning and Accounting

Gordon L. Cope

FOOTHILL RANCH, CA - Stirling Development is pleased to announce it has named Gordon L. Cope as Director, Financial Planning and Accounting.

In his new role, Cope will work closely with the executive team on all finance, accounting, treasury, tax, and administrative functions.

 Reporting to Brian Parno, Stirling's COO, he will also be responsible for budgeting, tax planning, and financial review of all of Stirling's overall business activities and active projects including Southern California Logistics Airport (SCLA) project in Victorville, Ocean Ranch Corporate Centre in Oceanside, as well as analysing and forecasting potential new projects.

"Stirling has a long history and stellar reputation for developing some of the region's most recognized master-planned real estate projects," said Cope. "The opportunity to work with and learn from its leadership who made those projects successful was very attractive to me."

"We are thrilled to bring Gordon onto our team. We felt there was a cohesive fit with Stirling's corporate culture of support, collaboration, and creativity," said Dougall Agan, Stirling's President and CEO."

Prior to joining Stirling, Cope served as a tax manager with Haskell & White LLP, a Southern California public accounting firm specializing in real estate. He has also held positions with international public accounting firm KPMG LLP and Goldman Sachs Inc. Cope is a Certified Public Accountant and graduated from the University of Utah earning both a Bachelor of Arts degree and a Master's degree in Accounting.

For more information on this press release, please contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

www.stirlingdevelopment.com

Benchmank Electronics Selects Tempe, AZ for HQ Location

Paul J. Tufano

PHOENIX, October 5, 2017 – After a six-month, extensive site selection process, global design, engineering and manufacturing leader Benchmark Electronics (NYSE: BHE) today announced its new corporate headquarters will be located at Rio 2100, a new 52-acre, Class A office park situated in the heart of Tempe, Arizona. 

The company announced relocation plans to Arizona from Angleton, Texas in April of this year and expects to add approximately 500 new jobs to the greater Phoenix area over the next five years.

Groundbreaking for the new site is expected to begin before the end of the year with an expected completion date in early 2019.  In the interim, Benchmark’s headquarters is at 4141 N. Scottsdale Rd.

The current and new headquarters will house the corporate leadership team and key corporate functions in finance, human resources, legal, marketing, operations, and supply chain. Benchmark’s Internet of Things (IoT) and RF and High-Speed Design Centers of Innovation will also transition to the new location.

“This is an exciting time for our company as we look forward to our new headquarters, which will allow us to grow in a single, cohesive location,” said Paul J. Tufano, president and CEO of Benchmark Electronics. “Rio 2100 is an ideal location to drive organizational alignment and attract and develop top-notch talent, as already evidenced in our strategic partnership with Arizona State University.”

For more information on this press release, please contact:

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195

www.focusaz.com

CV Sciences and TorreyCove Capital Partners Relocate Headquarters to Soerrento Mesa Submarket of San Diego, CA

Bernard Huberman

SAN DIEGO, CA – Coinciding with the ongoing growth in the technology, life sciences, and financial sectors throughout Sorrento Mesa, CV Sciences, a biotech company that operates two divisions in pharmaceuticals and consumer products, and TorreyCove Capital Partners, a registered investment advisory firm with more than $20 billion in assets under management, have recently relocated their headquarters to the Sorrento Mesa submarket of San Diego, California.

BLT Enterprises, a multi-faceted real estate investment company, leased a combined total of 32,093 square feet in its Sorrento Mesa assets, according to Bernard Huberman, Founder and President of BLT Enterprises.

“CV Sciences and TorreyCove Capital Partners were looking for high-quality space for their corporate headquarters that would cater to their existing needs while also allowing for future growth,” says Huberman.

“As a long-term owner, all of our properties are strategically positioned with first-in-class amenities, as well as the opportunity to evolve and grow along with our tenants. We essentially want to be our tenants’ ‘last landlord’ and create environments where they can lease from us for the long-term.”

CV Sciences will occupy a total of 24,000 square feet at BLT Enterprises’ Sorrento Tech III asset, a 30,097 square-foot flex R&D and industrial property. 

For more information on this press release, please contact:

Elisabeth Manville / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

emanville@browermillercole.com

HFF announces $15M financing for luxury multi-housing building in Medford, MA

Martha Nay

 

Adam Dunn

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $15 million construction take-out, permanent financing for Sphere, a brand-new, 42-unit luxury multi-housing building in Medford, Massachusetts.

The HFF team worked on behalf of the borrower, Dark Horse Capital Partners, to secure the seven-year, fixed-rate loan through HarborOne Bank. 

Delivered in July 2017, Sphere features 22 one-bedroom units and 20 two-bedroom units with nine different floorplans located at 640 Boston Avenue in Medford on the Somerville/Medford townline.

Situated at the foot of the future Ball Square Green Line station, the transit-oriented asset offers residents a real neighborhood (Ball Square) with stress-free living, nearby bakeries, retro diners, pubs, neighborhood restaurants and small shops.  

Sphere is within five minutes of the community bike path that links the property to nearby neighborhoods, including Davis Square, Porter Square, and Arlington Center, among others.  Additionally, Interstate 93 is a few blocks from the property providing vehicular access to Boston and the surrounding suburbs. 

The HFF debt placement team representing the borrower was led by director Martha Nay, with support from director Adam Dunn and analyst Sam Campbell.

“Sphere is an exceptional product in a highly desirable, transit-oriented location,” Nay said.  “Ball Square is in the midst of a transformation, and Sphere’s success is a testament to what’s to come. Dark Horse and HarborOne performed flawlessly throughout this very successful transaction, and it has been a pleasure working with both parties toward a strong outcome.”

For more information on this press release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Shelby G. Smith III Joins Berger Commercial Realty as Senior Property Manager

  

Shelby G. Smith III

FORT LAUDERDALE, FL – Shelby G. Smith III recently joined Berger Commercial Realty/CORFAC International as a senior property manager. A designated Real Property Administrator (RPA) and Certified Property Manager (CPM), he brings more than 35 years of commercial real estate management and leasing experience to the team.

Smith previously served as president of the property management division at The Fitzgerald Group, where he was responsible for overseeing a property management portfolio consisting of 18 retail centers, 23 industrial warehouses and 27 office buildings. 

He has represented a diverse array of notable clients including GE Capital, Guardian Bank, MetLife, NationsBank, Travelers Insurance, Highwoods Properties and Southern Farm Bureau Life Insurance.

“I have known Shelby for a number of years,” said Berger Commercial Realty President Lloyd Berger. “He brings a wealth of experience to our team and will be instrumental in meeting our owners’ objectives.”

Smith is a member of the Building Owners and Managers Association (BOMA) and Institute of Real Estate Management (IREM). He served on BOMA’s government affairs committee and helped to mitigate the impacts of legislation affecting property owners in Broward County. He is a native of South Florida and resides in Fort Lauderdale.

For more information on this press release, please contact:

954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Baird & Warner’s Good Will Network Announces Winners of $120,000 in Donations Supporting Chicagoland Communities

 

Jennifer Alter Warden

  

CHICAGO, IL — Baird & Warner, Chicagoland’s largest locally owned independent residential real estate services company, has revealed the five nonprofits that won a share of $120,000 in grants through its charitable arm –– the Good Will Network –– to further their work providing shelter and supporting services to people at risk of homelessness.

This marks a 20 percent increase in the total donations the Good Will Network provided last year.

The winners of this year’s Good Will Network initiative, called “$24K of Solid Good,” were chosen based on a Baird & Warner social media campaign that asked the public to vote during the month of August. Each winning organization received $24,000.

“Baird & Warner has been an advocate of Chicagoland’s communities since we made our first transaction in 1855,” said Jennifer Alter Warden, chief operating officer and executive vice president of Baird & Warner, who leads the Good Will Network’s efforts.

 “Our people are committed to helping those in need from every walk of life, and what these organizations do day-to-day is beyond inspiring. We want to honor their efforts in providing shelter with our contribution, as it represents the core values of the Good Will Network.”

Baird & Warner’s broker associates, loan officers and employees nominated the 10 “$24K of Solid Good” finalists – each of which help serve a variety of community needs with a focus on housing, particularly for women and children. The public then voted and the five organizations with the most votes won. A video featuring the winning organizations receiving their $24,000 can be viewed here.

The winning Chicagoland organizations are:

BEDS Plus Care Inc.

Housing Opportunities for Women (HOW)

Marklund

  

 For more information on this press release, please contact:

Kim Manning, kmanning@taylorjohnson.com (312) 267-4527

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

www.BairdWarner.com.

HFF announces $55M financing for 213-unit apartment building in Fairfax, Virginia

Sue Carras

 WASHINGTON, D.C.-– Holliday Fenoglio Fowler, L.P. (HFF) announces $55 million in financing for Modera Fairfax Ridge, a 213-unit, best-in-class apartment building in Fairfax, Virginia.   

The HFF team worked exclusively on behalf of the borrower, a joint venture between Mill Creek Residential Trust LLC and The Olayan Group, to secure the seven-year, floating-rate loan with ING Capital LLC.  Loan proceeds were used to retire the existing construction financing.

Modera Fairfax Ridge is located at 3887 Fairfax Ridge Road just off U.S. Highways 50 and 66, two of Northern Virginia’s main arterial roads traveled by approximately 157,000 vehicles per day. 

The property is near several Fortune 500 companies, The Fair Oaks Mall, Fairfax County Government Center, George Mason University and Inova Fairfax. 

Completed in August 2016, Modera Fairfax Ridge offers a wide range of studio, one- and two-bedroom configurations with luxury features, including kitchen islands, stainless steel appliances, quartz countertops, walk-in closets, in-unit washers and dryers, nine-foot ceilings, private patios or balconies and keyless entry. 

Nicole Brickhouse

Community amenities include a hotel-inspired swimming pool, outdoor fire pit, grilling area, club-quality fitness studio, yoga/Pilates studio, cyber café, gaming and bar area with billiards, business center with conference room and direct-access garage parking.  The property is NAHB Green Building Program-certified and is more than 95 percent leased.

The HFF team representing the borrower included senior managing director Sue Carras, managing director Walter Coker, senior director Brian Crivella and director Nicole Brickhouse.

"HFF is pleased to have been part of such a successful transaction involving such an outstanding sponsor partnership and lender,” Coker said.  “This project represented a great opportunity for the ownership team to take advantage of aggressive financing terms available in today's capital markets for stabilizing multi-housing assets."

 For more information on this press release, please contact:

Olivia Hennessey

Public Relations Specialist

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 |

www.hfflp.com

ohennessey@hfflp.com

http://www.hfflp.com/

www.olayan.com.

www.MillCreekPlaces.com.

IEC Signals Long-Term Commitment to San Diego with Acquisition of Value-Add $33.95 Million Multifamily Community

IEC Buys 133-Unit Apartment Community in La Mesa, San Diego, CA

 San Diego, CA – Institutional fund manager Interstate Equities Corporation (IEC) has moved into the San Diego market with the $33.95 million acquisition of a 133-unit, value-add multifamily asset in the La Mesa submarket of San Diego.

Marshall Boyd

This acquisition was on behalf of the firm’s IEC Institutional Fund III, L.P., a fully discretionary, $200 million commingled fund targeting value-add multifamily investments throughout coastal California.

“Entering the San Diego market is a natural progression for our firm’s investment platform,” says Marshall Boyd, Co-President and Chief Investment Officer of IEC.

 “We are extremely selective buyers and specialize in strategically acquiring unrenovated or partially renovated assets in coastal infill markets in the Bay Area and top markets in Southern California. 

"Over the years, as our firm has researched San Diego, we came to recognize the San Diego multifamily market is operationally resilient and has many similar characteristics to our best markets. This is why the extension was natural for our firm.”

More information is available at www.interstateequities.com.

For more information on this press release, please contact:

    Lauren Burgos/ Jenn Quader

    Brower, Miller & Cole

    (949) 955-7940

    Lburgos@browermillercole.com

Brian Batchelder Joins Berger Commercial Realty as Vice President of Brokerage

Brian Batchelder

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International recently welcomed Vice President of Brokerage Brian Batchelder to the team. A Florida licensed real estate broker and South Florida native, Batchelder brings more than 17 years of industry experience to the full service commercial real estate firm. 

Brian will be based at the firm’s Palm Beach County office, where he will handle leasing assignments totaling 500,000 square-feet of space.

Batchelder previously served as vice president at Stiles Realty, where he was responsible for multiple leasing and sales assignments totaling nearly one million square-feet of space. 

Some of his notable clients include the State of Florida, Allstate Insurance, Office Depot, Kodak, Nationwide Insurance, UAIG and Holy Cross Hospital. Prior to Stiles, Batchelder facilitated more than $200 million worth of lease and sales transactions at CBRE.

“Brian’s successful track record of representing high-profile landlords as well as local companies is a testament to his extensive market knowledge, industry expertise and adaptability,” said Berger Commercial Realty President Lloyd Berger.

Batchelder is a member of NAIOP South Florida and serves on the board of directors for Holiday Park Little League. He earned his Bachelor of Science degree from Florida Atlantic University and gained proficiency in Spanish at Academia Hispano Americana in San Miguel de Allende, Mexico.

For more information on this press release, please contact:

954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

HFF announces the sale of Element Miami International Airport hotel

Alexandra Lalos

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of the Element Miami International Airport, a 209-room, extended-stay hotel near Miami International Airport in Miami, Florida.

The HFF team marketed the property on behalf of the seller, Norwich Partners.  Peachtree Hotel Group purchased the hotel unencumbered of an existing management contract.  Peachtree will also manage the hotel.

Denny Meikleham

Completed in 2012, the five-story Element Miami International Airport hotel features fully-equipped suites with kitchens, workspaces, connectivity panels and complimentary internet.

 The hotel contains multiple food and beverage options, including The Salon at Element full-service bar and restaurant, Rise breakfast bar, Relax evening reception and the Restore gourmet pantry for preparing meals in suite; a state-of-the-art fitness center; resort-style pool; business center; and fire pit and outdoor courtyard area overlooking Palmer Lake. 

Like all Element hotels, the Element Miami International Airport operates under sustainable and green practices.  Situated on 5.18 acres at 3525 NW 25th Street, the hotel is less than two miles from Miami International Airport, which serviced 44.6 million passengers in 2016, and half a mile from Miami Intermodal Center transportation hub.

 Additionally, the Element Miami International Airport hotel is six miles from downtown Miami and approximately five miles from multiple retail destinations, including Merrick Park, Miami International Mall and the Dolphin Mall.

The HFF investment sales team representing the seller included director Alexandra Lalos, managing director Denny Meikleham and senior director Alan Suzuki.

Alan Suzuki

“With one of the top international airports in the United States and all-time record visitation, Miami continues to be one of the best hotel markets in the country,” Lalos said.  “As new demand drivers and infrastructure deliver and demand returns from the Miami Beach Convention Center, which is only 11 miles from the property, the Miami hospitality market will be the beneficiary.”

“A best-in-class seller and buyer cooperated to complete the first hotel sale transaction in the Miami Airport/Civic Center submarket in 2017,” Meikleham added.

For more information on this press release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

http://peachtreehotelgroup.com.

http://www.norwichpartners.com

NAI Realvest Negotiates Expansion / Renewal Leases at The Citadel III in East Orlando, FL

Mary Frances West

ORLANDO, FL — NAI Realvest recently negotiated office lease expansion and renewal agreements with long time tenants Pentaho Corporation, Sorenson Communications and Florida Business Development Corporation at The Citadel III located at 5950 Hazeltine National Drive in east Orlando.

Mary Frances West CCIM, Vice President at NAI Realvest negotiated the transactions which included the renewal of Pentaho Corporation’s 15,427 square feet and expansion into an additional 5,063 bringing that tenant’s occupancy to 20,490 square feet.   Pentaho was represented by Coughlin Commercial.  

West, who represents Landlord Citadel Partners LTD of Orlando, negotiated a  renewal agreement with Florida Business Development Corporation who occupies 2,141 square feet at Citadel III.  

Sorenson Communications, a tenant who has been growing its operations at the Citadel, has expanded into another 824 square feet which is double the space they started out with when first launching operations eight years ago at The Citadell III.   West negotiated the transaction representing the landlord, along with Matt Cichocki and Kevin O’Connor, principals at NAI Realvest.

For more information on this press release, please contact:

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

Marcus & Millichap Arrange Sale of 59,680-SF Self Storage Facility in Hartland, WI

Michael A. Mele

HARTLAND, WI  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Hartland Self Storage, a 59,680-square foot self-storage located in Hartland, Wisconsin, according to Ari Ravi, regional manager of the firm’s Tampa office.

Michael A. Mele and Sean M. Delaney, investment specialists in Marcus & Millichap’s Tampa and Chicago offices, had the exclusive listing to market the property on behalf of the seller, a private investor. 

The buyer, a private investor, was secured and represented by Michael A. Mele and Sean M. Delaney. Todd Lindblom, Broker and Regional Manager, assisted in closing this transaction.

Hartland Self Storage is located at 470 E Industrial Drive in Hartland, Wisconsin.  Situated on 4.3 acres, 337-unit facility has excellent access to numerous major thoroughfares in the area, including State Road 83, State Road 16 and County Road E and many single-family residential communities in the close vicinity. Hartland is a suburb of Milwaukee and a component of the Greater Milwaukee Metro Area, the state’s largest metropolitan area.

For more information on this press release, please contact:

 Ari Ravi

Regional Manager

 Tampa, FL

(813) 387-4700

Waterton Acquires 356-Room Hotel in Downtown Washington, DC

Waterton Madison Hotel, formerly Loews Madison, Downtown Washington, DC

WASHINGTON, DC (Oct. 3, 2017) – Waterton, a U.S. real estate investor and operator, today along with an affiliate of private equity partner Walton Street Capital, L.L.C., announced the acquisition of the 356-room hotel formerly known as the Loews Madison in downtown Washington, D.C.

Located at the intersection of M and 15th streets – just a half mile north of the White House – the property has been rebranded as The Madison, a Hilton Hotel. It will be managed by Hilton Hotels & Resorts.

Nir Liebling

Built in 1963, the hotel originally opened as the Madison Hotel at a ceremony attended by President John F. Kennedy and has since hosted every U.S. president as an honored guest. 

Over the past 15 years, the property has received more than $75 million in capital improvements, last undergoing a full renovation in 2012. As a result, guest rooms, meeting space and public areas have been completely refreshed.

“We’re excited that our first hotel investment in the D.C. market is a property with such a rich history in a prime location,” said Nir Liebling, chief investment officer of hospitality at Waterton. “There’s a tremendous opportunity here to reposition a premier destination for corporate and leisure travelers alike.”

For more information on The Madison, call (202) 862-1600

For more information on this press release, please contact:

Allen Johnson, ajohnson@taylorjohnson.com (312) 267-4513

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

www.3.hilton.com.

www.waterton.com.

Edward R. James Companies Debuts Luxury Single-Family Home Model at Anets Woods in Northbrook, IL

 

Jerry S. James

CHICAGO, IL (Oct. 3, 2017) – Glenview, Ill.-based Edward R. James Companies, an award-winning homebuilder with a 60-year history of delivering exceptional communities in Chicago’s North Shore, has announced the grand opening of a decorated model at Anets Woods, a maintenance-free community of 32 single-family homes in Northbrook, Ill. First deliveries at the community are expected in early 2018.

Located at 1573 Woodview Lane (near the intersection of Voltz and Waukegan roads), Anets Woods offers five distinct floor plans, each featuring a first-floor master suite, 2 to 2½ baths and an attached side- or front-loading two-car garage. 

Each floor plan, except the ranch design, offers a second level with two secondary bedrooms, a loft and a bonus room over the garage. Several of the homes include a look-out or walk-out basement, with partial look- or walk-out basements for the remaining homes. Plans measure from 2,318 to 3,578 square feet, and homes are priced from $1,059,900 to $1,159,900.

  

“We are very proud to announce the opening of our New Haven model and delighted with the reception we have received from our current and prospective buyers and the broker community,” said Jerry S. James, president of Edward R. James Companies. “Our team has worked very hard to assure the homes we are creating complement the natural beauty of the site and the extensive landscaping and hardscape that has been put in place.”

For more information on Anets Woods, visit www.anetswoods.com

.

 The on-site sales center is open Thursday through Monday from 10 am to 5 pm. Please call (847) 955-1213 to schedule an appointment.

 For more information on this press release, please contact:

 Kathryn Kjarsgaard, kkjarsgaard@taylorjohnson.com, (312) 267-4514

Kim Manning, kmanning@taylorjohnson.com (312) 267-4527

www.erjames.com

Rivergate KW Residential Continues South Florida Growth with Edgewater Community

 

Marcie Williams

MIAMI, FL (Oct. 3, 2017) — RIVERGATE KW RESIDENTIAL, a leading multifamily property management company, has expanded its South Florida portfolio as exclusive property manager and leasing agents for 2500 Biscayne in Miami’s Edgewater neighborhood. The brand new apartment tower will begin leasing in later this month.

One- and two-bedroom units at 2500 Biscayne are designed with open floor layouts that include chef-inspired kitchens with European cabinets, quartz countertops, walk-in closets, private patios and balconies, in-unit washer and dryers, porcelain tile floors, energy-efficient stainless steel appliances and oversized windows to maximize natural light.

Jeff Simpson

Residents of the sleek, pet-friendly, 19-story apartment tower can enjoy a rooftop lounge, views of Biscayne Bay, a saltwater pool, private cabanas, lounge with coffee bar, and fitness center.

“2500 Biscayne is a premier property in one of Miami’s most desirable neighborhoods that offers a mix of amenities, retail and culture, and we are excited to contribute to its success,” said Marcie Williams, president of RIVERGATE KW RESIDENTIAL. “We look forward to the opportunity to work with Greystone Development on this stunning community.”

Surrounding neighborhoods include Wynwood, Brickell and Downtown, making local attractions such as the Wynwood Farmers’ Market, Margaret Pace Park, the Design District and other shopping, dining, theaters and bars easily accessible.

“With the opening of 2500 Biscayne, we are thrilled to bring on RIVERGATE KW Residential to bring the property to market with a rapid lease-up,” said Jeff Simpson of Greystone Development.

Tours for 2500 Biscayne began on July 24. For more information, visit http://www.2500biscaynemiami.com/

 For more information on this press release, please contact:

Eric Kalis, BoardroomPR

ekalis@boardroompr.com

954-370-8999

www.rkwresidential.com