Draper and Kramer Promotes Two within its Residential Management Division

                                                                                                          

Jay Howell

CHICAGO, IL – Full-service national real estate firm Draper and Kramer, Incorporated announces it has promoted Ian Novak, CPM, PCAM, to the position of vice president, director of condominium management services.

 Additionally, the firm has appointed Jay Howell, director of operations for Draper and Kramer, to also serve as operations manager for its condominium management services group.

“It’s a real testament to the depth and track record of Draper and Kramer’s residential management group that we had two ideal internal candidates to tap for these leadership roles,” said Julie Johnson, senior vice president and director of management services for Chicago-based Draper and Kramer.

“It’s a busy and exciting time for this division, especially with several recent additions to our management portfolio in the last few months. We’re proud to have such a great team in place as we build on our reputation as one of the top management firms in the country.”  

A nine-year veteran of the condominium property management industry, Novak brings substantial hands-on expertise to his new position, having managed and supervised an array of condominiums ranging from 25 to 450 units and totaling approximately 2,600 residences.

Ian Novak

Having joined Draper and Kramer in 2008 as a property manager and property supervisor, Novak most recently served as vice president in the residential management division.

 As director of condominium management services, Novak’s responsibilities will include developing new business, focusing on board relations and ensuring compliance with condo law and practices. Novak is a graduate of Webster University in St. Louis and is a member of the Institute of Real Estate Management.

“Ian brings a great combination of practical property experience and managerial acumen to this position, which will serve him well as he guides the team managing our portfolio of associations and properties,” said Johnson. “And thanks to his tenure with Draper and Kramer, he’ll be able to hit the ground running in this leadership role.”

               

As operations manager for condominium management services, Howell will support Novak and his team in the areas of operations and accounting. Howell will also continue to serve as director of operations for Draper and Kramer, a position he has held since 2014. A 12-year industry veteran, Howell joined Draper and Kramer in 2005 in the residential management division.

“We’re fortunate to have Jay available as such a knowledgeable resource for our team, particularly with the latest additions to our condominium management portfolio. Here in Chicago, we recently took over management of The Manhattan, a 104-unit condo association at 431 S. Dearborn St., and The Marquee Condo Association, a 208-unit association at 1464 S. Michigan Ave.,” said Johnson. “We’re continually seeking out new efficiencies in our processes, and Jay’s in-depth expertise in this industry will be extremely valuable.

  

For a complete copy of the company’s news release, please contact:

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520

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

www.draperandkramer.com.

RAF Pacifica Group’s First Creative Industrial Spec-Development Project in San Diego, CA Nearly 50 Percent Pre-Leased

 

Adam Robinson

SAN DIEGO, CA – Announcing that he has pre-leased approximately 50 percent of his first Creative Industrial™ spec development, el•e•vate, months before construction is finished, Adam Robinson, Founder & Principal of San Diego-based developer RAF Pacifica Group notes that the success of the product was expected.

“We made the decision to start construction on this 156,977 square-foot, two-building project on a purely speculative basis because we know there is enormous demand for new, high-quality industrial space.

“With that demand, and our unique Creative Industrial approach, we were able to garner strong interest from multiple tenants and successfully pre-leased nearly 50 percent of our first spec-Creative Industrial development months ahead of its construction completion date,” he noted.

“The timing is right for spec-industrial development in San Diego,” continues Robinson. “Our ability to heavily pre-lease this spec-project demonstrates that the demand for industrial space will support new development if you’re willing to invest in a high-end product.

“By building state-of-the-art industrial facilities that integrate a creative office, corporate headquarters aesthetic, we are delivering the highest quality, most functional product in the current market.”

Tucker Hohenstein

Tucker Hohenstein, Senior Vice President of Colliers International in Carlsbad, adds, “All signs indicate a need for spec-industrial space. The tightening in supply of industrial product, coupled with demand drivers such as the rise of e-commerce, makes spec-development a strong long-term investment opportunity for investors and developers.”

The development site is located at 2870 and 2864 Whiptail Loop in Carlsbad, California. Situated in the Carlsbad Oaks North business park, el•e•vate offers access to the I-5, I-15, and Highway 78 for transportation and distribution.

Mike Erwin, Conor Boyle and Tucker Hohenstein of Colliers International are handling the leasing on behalf of RAF Pacifica Group.

For a complete copy of the company’s news release, please contact:

 Katie Kea / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

Marcus & Millichap Arranges $690,000 Sale of 21-Unit Multifamily Portfolio in Tampa Bay, FL

Ned Roberts

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 21-unit multifamily portfolio located in Tampa and St. Petersburg, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $690,000.

            “The seller felt now was the time to realize profits on a portfolio assembled in the aftermath of the Great Recession,” says Ned Roberts, associate in Marcus & Millichap’s Tampa office. “We were pleased to identify a singular buyer capable of acquiring this non-contiguous portfolio of assets.”

Roberts, along with Michael Donaldson and Nicholas Meoli, both vice president investments in the firm’s Tampa office, had the exclusive listing to market the property on behalf of the seller. They also procured and represented the buyer.  

The portfolio consists of one duplex, one triplex and four quadplexes located across both Hillsborough and Pinellas counties. There are 21 units comprised of one, two and four-bedroom floor plans ranging in size from 575 to 1,020 rentable square feet. The portfolio has a history of high occupancy rates and was 100 percent occupied at the time of sale. 

For a complete copy of the company’s news release, please contact:

Ari Ravi

Regional Manager, Tampa

(813) 387-4700