HFF arranges $12.14 million acquisition financing for high-street retail building in the Beverly Hills, CA Triangle

Single story vacant property, 315--319 North Beverly Drive, Beverly Hills, CA

Marc Schillinger

LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $12.14 million in acquisition financing for a high-street, vacant retail property at 315-319 North Beverly Drive in Beverly Hills, California.

HFF worked on behalf of the borrower, Sterling Organization, to place a non-recourse, fixed-rate loan at $2,583 per square foot.

315-319 North Beverly Drive is a single-story, 4,700-square-foot property located in the Beverly Hills Golden Triangle on the Rodeo Drive side of North Beverly Drive.  North Beverly Drive is one of United States’ most prominent and well-known retail and restaurant destinations.

The HFF debt placement team was led by director Marc Schillinger, senior managing director Chris Drew and associate Ryan Ash. This transaction comes immediately after HFF’s recent $122 million sale of The House of Bijan on Rodeo Drive, which sold for a record-breaking $19,403 per square foot.

“We are extremely happy with the result of our marketing efforts on behalf of Sterling Organization,” Schillinger said.  “Demand for high-street product is at an all-time high.”

For a complete copy of the company’s news 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

www.sterlingorganization.com.

HFF closes sale of Courtyard Boston Logan Airport hotel in Boston, MA

Courtyard Boston Logan Airport, 225 William F. McClellan Highway, Boston, MA

Daniel C. Peek

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Courtyard Boston Logan Airport, a 351-room, full-service, Marriott-branded hotel in Boston, Massachusetts, near Boston Logan International Airport. 

HFF marketed the property on behalf of the seller, affiliates of Rockwood Capital, LLC.

Located at 225 William F. McClellan Highway, Courtyard Boston Logan Airport is situated in East Boston, 2.5 miles north of Boston Logan International Airport and within five miles of downtown Boston.

 Additionally, the property is located along Route 1A, which connects to downtown Boston via the Sumner and Ted Williams Tunnels.  The hotel was built in phases and comprises 12-story and 11-story guestroom towers connected by a two-story, multi-use building.

 The hotel features 2,257 square feet of function space, an indoor swimming pool, fitness room, business center, complimentary shuttle service and Brinkley’s Restaurant & Lounge.

Denny Meikleham

The HFF investment sales team was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director Denny Meikleham and directors KC Patel and Alan Suzuki.

“The Logan Airport lodging market continues to be one of Boston’s best-performing submarkets,” Meikleham said.  

“Courtyard Boston Logan Airport has consistently out-performed other airport hotels because of its location, quality, Marriott affiliation and management team.  HFF has a long-term relationship with both the buyer and seller and viewed this acquisition as a ‘win-win’ for both entities.”

For a complete copy of the company’s news 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://www.rockwoodcap.com

HFF arranges $12.9 million acquisition financing for 5-building light industrial portfolio in Orlando, FL

  

Cypress Industrial Park, Satellite Boulevard, South Orlando, FL

Jon Mikula

 FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $12.9 million in acquisition financing for Cypress Industrial Park, a five-building light industrial portfolio totaling 256,838 square feet in southern Orlando, Florida.

HFF worked on behalf of the borrower, Denholtz Associates (Denholtz), to place the 10-year, fixed-rate loan with Principal Global Investors (Principal). 

Cypress Industrial Park comprises five single-story light industrial buildings that were constructed between 1987 and 1997.  The buildings are divided into 28 units and feature tilt-wall construction, range in size from 13,807 to 51,060 square feet, have an average clear height of 19.6’ and have a 33 percent office finish.

  The buildings are 98.5 percent leased to a variety of tenants, including Total Logistics Services, Rock ‘Em Apparel, Airstar, Hanger Prosthetics, Overhead Door Corporation and HNM Enterprises, LLC.

  Situated on 23.47 acres at 9500, 9535, 9603, 9777 and 9901 Satellite Boulevard, Cypress Industrial Park is within two miles of U.S. Route 441, State Route 528 and the Florida Turnpike, all of which provide access to the rest of Florida and into the surrounding states.

Michael Weinberg

 The portfolio, which is located in the Orange County Light Industrial market, is five miles east of Orlando International Airport and seven miles east of the Orange County Convention center.

The HFF debt placement team representing the borrower was led by senior managing directors Jon Mikula and Michael Weinberg and managing director Michael Klein.

“This acquisition is a perfect complement to Denholtz’s growing Florida portfolio and its business model, which specializes in assets of this size with many tenants,” Klein said. 

“Principal is very experienced in this market as both an investor and lender, so they quickly understood the deal, were able to provide terms that enabled the borrower to meet their return requirements and were able to underwrite and close the loan within a relatively short closing period.”

For a complete copy of the company’s news 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://www.denholtzassociates.com

Olive Hill Group Brings Asset in Growing Silicon Beach Submaket to Nearly 100-Percent Occupancy with Global Digital Media Company

Corporate Pointe, Culver City, CA

LOS ANGELES, CA (Feb. 21, 2017) – Olive Hill Group, a private investor, operator and developer of commercial real estate, has leased half of the fifth floor of its creative office campus in Culver City to Omnia Media, a subsidiary of the international Canadian media company Blue Ant Media, Inc.

The office complex is located at 300 Corporate Pointe in Culver City, California.

 Omnia Media will lease 9,762 square feet on the 5th floor of the building. Matt Brainard at Savills Studley represented the tenant, Omnia Media, while Joe King and Matt Sprowles at Madison Partners represented the landlord, Olive Hill Group.

Omnia Media, one of the world’s largest digital content producers and distributors that helps global brands maximize the power of online videos, has outgrown its existing space and will relocate to 300 Corporate Pointe, bringing the asset to 95 percent occupancy.

“Culver City is the next creative growth hub of Silicon Beach,” says Michael Cho, President of Olive Hill Group. “It has attracted a significant number of players in the digital media, entertainment, and technology industries, marking its emergence as one of the most dynamic creative markets in the entire southern California region.”

Cho notes that this new lease is indicative of a larger trend as creative tenants migrate to the Playa Vista neighborhood of Silicon Beach where entertainment giants such as YouTube, Netflix, and Buzzfeed have taken up residence.

“Tenants such as Omnia Media are flocking to Silicon Beach to be at the epicenter of the digital entertainment action,” explains Cho. “Our ability to secure a lease of this caliber is a testament to the quality of this asset, as well as to the growth of this market.”

According to Tim Lee, Olive Hill’s Vice President of Corporate Development and Legal Affairs, this new lease reflects the firm’s strategy of capitalizing on the growing demand for creative office by providing environments that foster innovation and collaboration.

“The office building’s flexible outdoor workspace, easy accessibility in a low-rise setting, and creative buildouts make this the perfect location for a number of creative tenants seeking a value-oriented alternative to office space in neighboring Venice and Santa Monica,” continues Lee. 

“By providing innovative workspaces that will attract businesses in the tech, media, and digital entertainment industries, we are cultivating an ecosystem of creative tenants that will drive long-term value for the asset.”

Along with Omnia Media, the office campus’ tenant mix includes DataScience Inc. and Ipsos Insight, a global market research and consulting firm.

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

Katie Kea / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

Voit Real Estate Services Helps Nutrition Company Relocate to Ontario, CA With 392,080-SF Lease

Frank Geraci

Ontario, CA – Voit Real Estate Services has successfully completed the lease of a 302,080 square-foot industrial/R&D facility in Ontario, California on behalf of Nellson, LLC, a leading full-service bar and powder nutrition provider in North America.

Frank Geraci, Executive Vice President of Voit’s Inland Empire office, represented Nellson as the lessee and IDI Gazeley as the lessor in the $30 million transaction.

“Nellson was planning a move from its four-building aging campus in Irwindale, and was seeking a modern property that could deliver optimal efficiency, increased capacity, and expansion space to support future growth,” explains Geraci, who notes that competition is high for industrial space throughout the Inland Empire market.

“Industrial vacancy rates remain in the low five percent range in spite of the influx of over 77 million square feet of new construction in the past two years,” he says.  “Tightening industrial markets and rising rents in neighboring coastal regions continue to drive businesses inland, resulting in increased demand for premium space in all size ranges in the Inland Empire.”

Geraci notes that securing this facility for Nellson reflects Voit’s ability to meet the needs of both tenants and landlords.

“By sourcing this off-market opportunity, we were able to provide Nellson with a high-profile, centrally-located facility, while simultaneously securing a high-quality tenant on behalf of the property owner,” affirms Geraci.  “Further, we were able to identify a property in close proximity to the client’s Irwindale operations, enabling Nellson to retain its experienced local workforce as it relocates.”

Jamie Better

Nellson plans to invest $40 to $50 million in the Ontario facility to create a world-class production facility, according to Jamie Better, Nellson’s Chief Executive Officer.

“We plan to create a state-of-the-art manufacturing facility to better serve the rapidly evolving needs of our customers,” Better says. 

 “After careful review, our leadership team concluded that leasing and upgrading a new facility would help us reach that objective most effectively. Our goal is to have the new facility fully operational by the first quarter of 2018.”

Nellson plans to build out a state-of-the-art R&D lab to support corporate R&D efforts, commercial scale-up, and testing of customer formulations; and will create segregated production lines that provide brand confidentiality, maximum allergen control, food safety, and efficient sanitation, as well as flexible scheduling.

Built in 1989, the Ontario industrial facility features 25-foot clear height ceilings, 43 dock-high loading doors, ample parking spaces, and an ESFR sprinkler system. The property offers immediate access to the 10, 60, and 15 freeways, as well as the Ontario International Airport for transportation and distribution.

The property is located at 1000 S. Etiwanda Ave, Ontario, California.

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

www.voitco.com.