Tuesday, August 30, 2011

Simpson Strong-Tie Expands to 400,000-SF Manufacturing Facility in San Bernardino County, CA


SAN BERNARDINO COUNTY, CA (Aug. 30, 2011) – Simpson Strong-Tie, a leading manufacturer of structural products for the building industry, chose an existing 396,600-square-foot industrial building in the Agua Mansa redevelopment area of the County of San Bernardino for a major relocation.

Simpson Strong-Tie relocated its Brea, California operations to the County to increase plant capacity and improve efficiency. The new expanded location houses more than 184 office, manufacturing and warehouse staff.

The manufacturer will be taking advantage of the San Bernardino Valley Enterprise Zone (SBVEZ) initiatives which provide qualified businesses with substantial State tax credits and benefits, including hiring tax credits and sales or use tax credits, among others.

The SBVEZ was created under the California Enterprise Zone Program to stimulate economic growth and job creation. The SBVEZ area encompasses 42 square miles in the cities of San Bernardino, Colton and unincorporated portions of the County.

 The San Bernardino County Board of Supervisors recently approved the addition of 1,252 acres of County unincorporated area to the SBVEZ to extend the Enterprise Zone tax credits and benefits to more businesses who are considering a County location.

“Simpson Strong-Tie is indicative of the kind of quality manufacturer that is attracted to the County,”  said Josie Gonzales (top right photo), Chair, County of San Bernardino Fifth District Supervisor.

.”We’re honored to have them move into the region and look forward to working with them to build their operation and grow their workforce. Their move further underscores the advantages San Bernardino County has to offer manufacturers and other industry leaders through programs such as the Enterprise Zone,”

Erik Wanland and Tom Dorman of CB Richard Ellis represented Simpson Strong-Tie in the move.

 Visit www.SBCountyAdvantage.com to learn more.

Contact: Darcie Giacchetto, Spaulding Thompson & Associates, 949.278.6224

Lincoln Acquires nearly 500,000 SF in Suwanee, GA

ATLANTA, GA (Aug. 30, 2011) - Attracted to Atlanta's active Northeast industrial submarket, Lincoln Property Company purchased three buildings in Suwanee, Ga., totaling 482,896 rentable square feet.

Located at 475, 485 and 495 Horizon Creek Drive, the buildings are 100-percent leased by six tenants including CME Wire & Cable, Atlanta Cable Sales, Blue Sky Imports, Mycoal and PODS. CB Richard Ellis represented the seller in the transaction.

With no new leasing required, Lincoln plans to focus on maintaining positive tenant relationships to retain these tenants for future renewals.

"This property appealed to Lincoln for a number of reasons," said Lincoln Senior Vice President Tony Bartlett (lower right photo). "The buildings are located in Atlanta's largest and most active submarket with excellent interstate access. In addition, the buildings were constructed in 2007 and are extremely functional and built to state of the art design specifications."

Nationally Lincoln has been involved in more than $1.2 billion in acquisitions in the last 12 months. LPC Southeast has completed more than $80 million worth of acquisitions in 2011 with the purchases of 55 Allen Plaza and Horizon Creek, both of which were purchased on behalf of public pension fund clients.

 For more information on the Southeast Region of Lincoln Property Company, please visit www.lpcsoutheast.com. To check out the blog, go to http://blog.lpcsoutheast.com.

Laura Dudebout
O: 404.965.5023
C: 678.642.4301

McCarthy Building Companies to Begin Major Structural Work on Torrance Memorial Medical Center Replacement Tower in Torrance, CA

TORRANCE, CA, Aug. 30, 2011—McCarthy Building Companies, Inc., one of the premier hospital building contractors in the U.S., is constructing the $300 million Torrance Memorial Medical Center Replacement Tower (top left rendering) on the existing medical center site at 3330 Lomita Boulevard.

Excavation and shoring for the new construction is nearly complete as the tower’s structural steel is scheduled to begin in October 2011.

 “Our partnership with McCarthy in this project will prepare us to offer to our community the most current and effective medical technologies in the most passionate, caring environment possible for decades to come,” said Craig Leach (middle right photo) president and CEO of Torrance Memorial Medical Center. “Once completed, the tower will be unmatched locally in its energy and environmental design efficiencies. It will truly be a beacon for wellness and sustainability.”

McCarthy is the general contractor for the 256-bed replacement project which began construction in February 2010.

The project entails construction of a seven level, 398,350-square-foot patient tower as well as a basement that will house a central utility plant and a tunnel connecting the existing hospital to the new facility.

Twelve new elevator systems and two exit stairs will be installed, and a 2,770-square-foot Emergency Generator building along with underground fuel oil storage tanks will be constructed on site.

 Before construction could begin, McCarthy re-routed existing underground utilities servicing the tower around the new tower’s footprint. A new entrance to the existing facility was also built to allow for patient access from a new direction while the tower is under construction.

Designed by HMC Architects, the state-of-the-art Tower will be the new front door of the medical center, and the centerpiece of the campus.

Topping out of the structural steel is slated for February 2012, with project completion by November 2014.

More information about the company is available online at www.mccarthy.com .

Laura Mickelson (LM Communications), (949) 453-0851,
Susan Garritano (McCarthy Building Companies, Inc.),  (314) 968-3300


Colliers International Negotiates Sale of 34,321-SF Industrial Building in Woodland Hills, CA

WOODLAND HILLS, CA, Aug. 30, 2011. – Colliers International, the second largest global real estate services organization, recently directed the sale of a 34,321-square-foot industrial building located at 6033 De Soto Ave., Woodland Hills, Calif. to Sky High Sports a unique trampoline fun center for kids of all ages. The sale was valued at approximately $5.35 million.

 The buyer was represented by John DeGrinis (top right photo), SIOR, senior executive vice president, Patrick DuRoss (middle left photo) associate vice president, and Jeff Abraham (lower right photo), senior associate, all of TEAM DeGRINIS based in Colliers International’s Encino office.  Jim McDonald of Group 100 represented the seller.

 Sky High Sports was quite impressed with the highly desirable infill location due to its proximity to the entire San Fernando Valley and the surrounding upscale amenities in Warner Center.  The expansion will help fill a void in the community for a family-friendly activity center.

 “Sky High found tremendous success in the building we leased them in Camarillo in 2010,” said DuRoss “For their expansion into the San Fernando Valley, we looked at several alternatives that just weren’t the right fit.  But when we saw this building, we thought it was the ideal location for Sky High.”

 “This transaction also took some creativity in putting the deal together,” DeGrinis added.  “We ended up structuring the purchase with the seller carrying back the note, which helped accomplish both parties’ goals.”

 For more information on Sky High Sports and Team DeGrinis, please visit www.jumpskyhigh.com and www.teamdegrinis.com.

Jones Lang LaSalle Brokers Sale of $9.95M Metro Phoenix Distribution Building

 PHOENIX, AZ,  August 30, 2011 – Jones Lang LaSalle Industrial Solutions experts have brokered an all-cash sale of a 302,640-square-foot distribution building (top left photo) at 9704 W. Roosevelt Road in Tolleson, Ariz.

The $9.95 million purchase was made by a limited partnership formed by Denver, Colo.-based Prologis, Inc. (NYSE:PLD), the world’s largest industrial landlord with approximately 600 million square feet of distribution space in 22 countries.

Sade Trust listed the 1995-built Tolleson, Ariz. property for sale when long-time tenant Reckitt Benckiser vacated the building and expanded operations in Utah.

 Managing Directors Anthony J. Lydon (middle right photo) and Marc Hertzberg (middle left photo) in the Phoenix office of Jones Lang LaSalle represented the building seller, the Paul and Eleanor Sade Trust of Alamo, Calif. and have also been assigned the leasing efforts for the new owner, Prologis. The team already has tenant interest to lease the entire building and bring roughly 200 jobs to the area.

Fritz Wyler (bottom right photo), Prologis Senior Vice President and Investment Officer, represented Prologis.

“Prologis is a global leader, so its decision to buy here is a significant stamp of approval,” said Lydon. “This purchase tags Phoenix as a rising market with a relative lack of supply for larger industrial space solutions.”

Although Prologis has purchased about three million square feet of Phoenix industrial space in the past two decades, 553,445 square feet of that space was purchased in just the last few weeks.

According to Jones Lang LaSalle, when the Tolleson property is leased, there will only be four available distribution buildings in southwest Phoenix that offer at least 200,000-square-feet of contiguous space. Three years ago, there were 24 properties in this category.

“Phoenix is running out of larger industrial buildings,” Lydon said. “In the last 18 months, we’ve seen more than six million-square-feet of net industrial space absorbed by companies like Amazon, Genco, Sub-Zero and Suntech. We’re currently tracking approximately 20 out-of-state industrial users that are seeking about eight million square feet of additional industrial space in Phoenix.”
Wyler added, “This is a well-located, cross-dock building with encouraging tenant activity. “That typically makes for a very positive, win-win outcome for Prologis and our market partners.”

For further information, please visit our website, www.joneslanglasalle.com.

Contact: Stacey Hershauer, focusAZ, Marketing & Public Relations
(480) 600-0195, www.focusaz.com

Grubb & Ellis Landauer Recruits Hospitality and Leisure Specialty Practice Managing Director and Team


ATLANTA, GA (Aug. 30, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has announced that Gregory Kendall (top right photo), MAI, CRE, founder and former managing director of RERC Hospitality, and his team of real estate consulting and valuation professionals have joined Grubb & Ellis Landauer Valuation Advisory Services, based in the company’s Atlanta office. 

 Kendall becomes managing director, hospitality and leisure valuation and consulting, for Grubb & Ellis Landauer.  His practice group will focus on a number of segments in the hospitality and leisure category, including hotels, resorts, golf, gaming, pleasure craft marinas and other specialty property types.

 Kendall will be joined by key members of his RERC appraiser team: Joseph Vegliacich, appraiser, and Garrett New, associate appraiser.

“The team’s addition greatly expands Grubb & Ellis Landauer’s hospitality and leisure valuation and consulting capabilities,” said Eduardo Alegre, executive managing director and chief operating officer of Grubb & Ellis Landauer. 

“The goal is for Greg to ultimately lead a national consulting and appraiser team for Grubb & Ellis Landauer, engaging valuation specialists already with the company in virtually every major U.S. market.”

 An industry veteran who brings more than 20 years of experience in real estate valuation and consulting, Kendall was the founder and managing director of RERC Hospitality, Real Estate Research Corporation’s valuation division focusing on hotels, resorts and other hospitality real estate.
 Contact: Ted McDougal, Phone: 312.698.6735  (o) 630.308.8144 (m))                               
Email: ted.mcdougal@grubb-ellis.com          

MAA Announces Acquisition of Birchall at Ross Bridge Apartments in Hoover, AL

MEMPHIS, TN /PRNewswire/ -- MAA (NYSE: MAA) announced today that it has completed the acquisition of Birchall at Ross Bridge (top left photo), a 240-unit upscale apartment community located in the highly desirable South sub-market of Hoover, Alabama in the Birmingham metropolitan statistical area.

Birchall at Ross Bridge is a condo-quality community that was developed in 2009. The community offers a mix of 1, 2 and 3 bedroom floor plans with an average unit size of 1,182 square feet.

The units offer luxury amenities including stainless steel appliances and granite counter tops. The community contains a resort-style pool, secluded trails and various resident centers, and is in walking distance of restaurants, specialty retailers and offices.

Birchall at Ross Bridge is located in Hoover, Alabama in the mixed-use Ross Bridge master planned community that includes one of the premier Robert Trent Jones Golf Trail courses and was named Best Community in America 2010 by the National Association of Home Builders. 

 Hoover, Alabama, situated at the intersection of I-65 and I-459 roughly 8 miles south of Downtown Birmingham, boasts one of the highest-ranked public school systems in Alabama and is the sixth-largest municipality in Alabama.

Commenting on the announcement, Al Campbell (middle right photo), EVP and CFO, said, "We are very pleased to add Birchall at Ross Bridge to our Alabama portfolio in the Birmingham market.

 “Birmingham is home to several Fortune 500/1000 headquarters and hosts an extensive transportation network offering easy access to several other major markets.

“We believe the Birmingham economy will support strong leasing fundamentals for the foreseeable future."

The acquisition was funded by common stock issuances through MAA's at-the-market program and borrowings under our current credit facilities.

 MAA is a self-administered, self-managed apartment-only real estate investment trust, which currently owns or has ownership interest in 48,426 apartment units throughout the Sunbelt region of the U.S.

 For further details, please refer to the MAA website at www.maac.com or contact Investor Relations at investor.relations@maac.com. 
6584 Poplar Ave., Memphis, TN  38138.

20 and 30 Enterprise at Summit Office Campus Reaches 94% Occupancy With Six Recent Leases in Aliso Viejo, CA

ALISO VIEJO, CA (Aug. 30, 2011)  Summit’s 20 and 30 Enterprise are now at 94 percent occupied according to the development and management team of Parker Properties, and its partner, RREEF Alternative Investments.

 Over the last six months, there have been six leases signed totaling 140,596 square feet with Marvell Semiconductor, Inc., UST Global, Inc., AVANIR Pharmaceuticals, Inc., Telogis, Inc., Johnny Rockets Group, Inc., and Benefits Resource, LLC.

The 20 and 30 Enterprise buildings, which have obtained LEED Silver certification, are the latest buildings constructed in the Summit Office Campus (top left photo) in Aliso Viejo, a 1.7 million square foot mixed-use office campus featuring 11 low-to mid-rise office buildings.

The CB Richard Ellis leasing team of Ted Snell (lower left photo), Carol Trapani (middle right photo) Jake Stickel and Allison Schneider, represented Parker Properties and RREEF on all of the new and /or expanding lease transactions at the 250,803-square-foot phase encompassing two four-story buildings at 116,077 square feet and 134,726 square feet each.

The strong performance comes at a challenging time in the office leasing market. While the County is showing some stability in its overall office market, at second quarter 2011 the south Orange County submarket had posted a 15.3 percent vacancy rate, according to CB Richard Ellis market reports.

  “The vision for Summit was based on attracting industry-leading companies that want a great workplace at an amenity-rich location to attract and retain their best and brightest workforce.

“The caliber of firms in technology, pharmaceuticals, medical devices and ophthalmology that are now looking to Summit for corporate headquarters and regional offices is a direct reflection of the quality of both this campus and the local community of Aliso Viejo,” said Russ Parker (lower right photo) of Parker Properties.

 Existing tenant, Marvell Semiconductor, Inc., a Santa Clara-based leading fabless  semiconductor company, expanded into a total of 37,047 square feet of space in a five-year lease at 30 Enterprise. The move represented a 14,961-square-foot expansion for Marvell.

 The firm joined another existing tenant Bausch + Lomb, one of the best-known and most respected healthcare companies in the world. At the end of 2010, Bausch + Lomb had expanded from 24,628 square feet to a total of 60,583 square feet in 30 Enterprise when the firm chose to consolidate its national surgical group into the Aliso Viejo location.

 The firm also achieved LEED Tenant Improvement Gold Certification.

 “When you analyze the submarket, you’ll find that 20 and 30 Enterprise have done the most leasing in Aliso Viejo. It’s all driven by the area’s vibrant food, retail and hospitality amenities, along with  a superb location. It’s amazing to see the growth of technology, pharmaceutical and ophthalmology clusters at Summit. A first-class atmosphere attracts first-class companies,” added Ted Snell of CBRE.

For a complete copy of the company's news release, please contact  Darcie Giacchetto, Spaulding Thompson & Associates, 949-278-6224

Carter Secures Nearly 30,000 SF in Leases at Piedmont West in Atlanta

ATLANTA, GA (Aug. 30, 2011) - Carter, one of the country's leading commercial real estate advisors, service providers and investors, secured nearly 30,000 square feet of new leases at Piedmont West (top left photo) over the past 30 days.

Carter's Senior Vice President Glenn Kolker (middle right photo) heads up leasing for the building and served as landlord representative on each transaction.

Internal/family medicine practice Braude, Mermin, Spivey, Malamis & Perry will relocate to a 6,800-square-foot space on the first floor of Piedmont West from its current location at 1109 W. Peachtree St. in Midtown. Peyton Wimberly (lower left photo) of Cushman & Wakefield represented the tenant.

Piedmont Healthcare will expand its lease on the third floor by 10,000 square feet for legal and administrative offices. John Shlesinger and Steve Barton of CB Richard Ellis represented the tenant.

 Van Meter Pediatric Endocrinology leased 5,500 square feet on the fourth floor. Bob Allen of Colliers International represented the tenant.

Georgia Skin Specialists - Dr. Linda Benedict - will relocate from its current location at 3280 Howell Mill Road to the sixth floor of Piedmont West. The dermatology practice will occupy a 5,400-square-foot space. Michael Hubley of Sperry Van Ness represented the tenant.

Piedmont West's street-level retail space also is filling up. Rising Roll Gourmet, a salad and sandwich shop, just opened a location in the building.

Other building tenants include prominent practice groups such as Atlanta Center for Reproductive Medicine, Atlanta Gastroenterology Associates, Dr. Mark Codner, MD-Plastic Surgery and Jenkins Clinic. Carter developed the mixed-use outpatient facility encompassing 264,000 square feet of medical office and retail space that opened in 2009.

"Medical office continues to be one of the brighter spots in commercial real estate," said Kolker. "Piedmont West is benefiting from that trend since it is a newer medical office building with state-of-the-art features that today's physician practices and patients require."

For additional information on Carter, please visit www.carterusa.com.

Laura Dudebout
O: 404.965.5023
C: 678.642.4301

Essex Realty Group Brokers Sale of Multi-Family Apartment Building in Evanston, IL

 CHICAGO, IL, Aug. 30, 2011.   Essex Realty Group, Inc. is pleased to announce the sale of a thirteen unit, walk-up style, apartment building (top left photo) located on the corner of Monroe Street and Sherman Avenue in Evanston, Illinois.

The property consists of 10 one-bedroom and 3 two-bedroom units with many of the vintage details preserved.

Doug Imber (lower right photo) and Kate Varde (lower left photo) of Essex represented the seller and Jim Darrow, also of Essex, represented the buyer. The price was approximately $1,125,000.

Essex Realty Group, Inc. specializes in the sale of nvestment real estate throughout the Chicago metropolitan area.

Contact: Douglas S. Imber, Essex Realty Group, Inc., 773.305.4902

IDI Leasing Success in Chicago, Dallas and Memphis Marks Mid-point of 2011

More than 3.3 Million SF Leased YTD across the U.S.

 ATLANTA, GA – IDI marked the mid-point of 2011 with strong leasing performance in three key markets, and continued success in several others.

From January to June, IDI tallied leases in excess of 3.3 million square feet in seven of the company’s eight U.S. markets. Disposition activity continued with 722,297 square feet of space sold in the first six months of the year.

 Leasing activity was most prevalent in Chicago with new leases and renewals totaling 812,722 square feet. Ozburn-Hessey Logistics and hhgregg® signed new leases for 269,590 square feet at Bolingbrook Corporate Center (top left photo) and 247,360 square feet at Prairie Point West (lower right photo), respectively.

The Chicago office also signed a 283,754-square-foot renewal at IDI’s Southgate Commerce Center (lower left photo), and an additional 37,524 square feet was leased under third-party arrangements.

In Dallas, IDI signed six new leases and one expansion for a total of 568,707 square feet. Significant leases were signed at IDI’s Skyline Trade Center (middle right photo) (262,440 SF) and DFW Trade Center (168,828 SF). 178,200 square feet was leased under third-party agreements.

 Finally, in the Memphis market, a total of 446,195 square feet was leased, including a new 390,620-square-foot lease in Nashville’s Wilson Commerce Center (middle left photo). 541,374 square feet was also signed in third-party leases.

 Other IDI markets performed well in the first-half of the year, with a total of 189,350 square feet leased and 343,350 square feet in third-party leases signed in Atlanta for a total of 532,700 square feet.

The Los Angeles market leased 147,997 square feet to CEVA Logistics, Inc., the Cincinnati office signed a lease with Red Bull for 27,390 square feet and three leases totaling 81,133 square feet were signed in Ft. Lauderdale.

 “Our 2011 numbers show continuing signs of recovery in the industrial market and we are encouraged by the overall increase in industrial activity and absorption globally,” said Tim Gunter (top right photo), president and CEO of IDI.

He added, “We saw a lot of new activity in the first half of this year, where last year was focused on renewals and consolidation. The type of activity we’re seeing is especially good news for investment as we’re seeing the financial markets open up to the possibility of new development again.”

 IDI is a real estate company focused exclusively on industrial property. The company, headquartered in Atlanta, Georgia, provides development, investment and property management and leasing services supported by eight, strategically located U.S. market offices.

Valued at $1.8 billion, IDI is among the largest privately-held logistics property companies in North America with ownership or interests in 33 million square feet of investment grade assets.

Since the company’s founding in 1989, IDI has built a reputation for delivering superior quality properties and service.

To date, IDI has developed and acquired 134 million square feet of industrial space and completed more than 500 industrial facilities in the U.S., Canada and Mexico.

 The company’s investment portfolio, focused on building long-term value, holds more than 22 million square feet of assets and the company manages a portfolio of 50 million square feet.

 Kim Hardcastle, Jackson Spalding for IDI , 404-214-0693       
 Charlotte Marie Sturtz, Jackson Spalding for IDI, 404-214-3555