HFF arranges $12.1 million financing for Boulder, CO industrial flex building

Industrial Building, Gunbarrel Business Park, 6265 Gunbarrel Avenue, Boulder, CO

Leon McBroom

SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $12.1 million in acquisition financing for a 152,002-square-foot industrial and office building in Boulder, Colorado.

HFF worked on behalf of Manchester Capital Management to place the three-year, fixed-rate loan with a regional bank.

Situated on 12.33 acres at 6265 Gunbarrel Avenue, the building is within the Gunbarrel Business Park, which is home to notable companies including Lockheed Martin, Celestial Seasonings, Qualcomm, Northrop Grumman and Avery Brewing Company. 

Approximately 33 miles from downtown Denver, the property is in the Northwest submarket, one of Denver’s largest suburban markets, and is 43 miles from Denver International Airport.

 Completed in 1969 and expanded in 2003, the property is 60 percent leased to BI Inc., one of the nation’s leading manufacturers of offender-monitoring products and services.  The two-story building features 74,000 square feet of office space, ceiling heights up to 24’ and eight grade-level overhead doors with loading docks.

John Churchward

HFF’s debt placement team was led by director John Churchward, associate director Leon McBroom and associate Zachary Kersten. 

“On behalf of one of our client families, we are very excited to acquire this highly attractive asset in one of the most supply-constrained and desirable markets in the country,” said Corbin Rich, an asset manager for Manchester Capital Management. 

“Boulder’s industrial/flex market vacancy is currently less than five percent, and we anticipate robust demand for the vacant space, which underperformed the market during a recent foreclosure process.”

“This lender delivered a strong loan option that provides Manchester Capital Management with tremendous flexibility to execute a thoughtful value-add business plan while also eliminating interest rate risk with a fixed coupon,” Churchward added.  “The transaction not only featured this uniquely-competitive financing solution but also a smooth execution from both sides. We anticipate this is the start of a valuable relationship.”

MCM Real Estate Services was established by Manchester Capital Management in 2002 to act exclusively as a real estate acquisition, development, and management service for ultra-high net worth clients.  The group acquires and manages institutional-grade real estate assets, working to align a client family’s long-term investment objectives and possible desire to own multi-generational legacy assets.  Investments are located in Los Angeles, San Francisco, Seattle, Portland (OR), Denver, Boulder and Charlottesville.   

 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

Core5 Industrial Partners Leases Shugart Farms Full 873,800-SF Building to Duracell Corp.

Lisa Ward

Kris Bjorson

ATLANTA, GA – Atlanta-based Core5 Industrial Partners announced an 873,800 square-foot lease to Duracell Corporation in their Shugart Farms property – Core5 Logistics Center at Shugart Farms.

Duracell is the number one battery brand in the world.  The Core5 facility will provide Duracell distribution services for all of North America. Sonoco, one of the largest global diversified packaging companies, will support Duracell’s new battery packaging operation and DHL will handle the logistics.

The full building lease is among the largest leases of the 2016 in the Atlanta region. Duracell was represented by Kris Bjorson and Bill Kee of JLL and Core5 was represented by Cushman & Wakefield..

“With Duracell battery manufacturing facilities in the Southeast US, the proximity between these locations made the state-of-the-art building at Shugart Farms the ideal location,” said Lisa Ward, Core5’s Senior Vice President and Managing Director.”

 In addition to the location, Core5’s building layout and flexibility played a key role in Duracell’s selection of the facility.” Located in the I-85/Airport Submarket in Fairburn, Georgia just south of Atlanta’s city center and less than 10 miles from Hartsfield Jackson International Airport, the Shugart Farms building is Core5’s initial development in Atlanta. 

“The location is ideal for our business”, stated Duracell’s Jackson Jones Operations Director. “The building meets all of our criteria and the Core5 team was very responsive in working with us on our tight schedule.”

The Airport Submarket has been the most active submarket in Metro Atlanta over the last year, landing several Fortune 500 companies for largescale distribution and e-commerce fulfillment centers.

Bill Kee

Core5 Industrial Partners is an industrial real estate property company with expertise in development and acquisition of inventory and build-to-suit facilities of Class A industrial properties. 

Headquartered in Atlanta, Georgia, Core5, named for its five core business principles, was capitalized in 2015 by Kajima USA Group, whose $2 billion industrial holdings were sold in 2013. 

With current activity in Atlanta and Chicago, Core5 expansion plans include the key logistic hubs throughout the US. For more information on Core5 Industrial Partners, visit www.c5ip.com.

The Duracell Company and its iconic Duracell brand was acquired by Berkshire Hathaway, Inc. (NYSE-BRK) in 2016.

 Since its humble beginnings, Duracell has grown to be the leader in the single-use battery market in North America. In a world where trust is at a premium, Duracell products can be trusted to power all of life’s everyday moments. Our products are trusted in the devices that keep people connected, protect their families, entertain them, and simplify their increasingly mobile lifestyles. Berkshire Hathaway is a $210B holding company owning subsidiaries that engage in diverse business activities. For more information, visit www.duracell.com

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

Lisa Ward

Core5 Industrial Partners

404-262-5430

lward@c5ip.com

Shopoff Realty Investments Acquires Site in Anaheim Colony Area for Redevelopment

William Shopoff

Anaheim, CA – Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced the company and funds managed by Argosy Real Estate Partners, have acquired a 20.5-acre property in Anaheim, Calif. for redevelopment to residential use. 

This is the third land development opportunity that Shopoff has undertaken in the City of Anaheim.

The property is currently improved with a 356,187-square-foot distribution warehouse and office space.  The corporate seller has been retained as a tenant and will lease the property for the next 15 months.

The property is located at 901 E. South Street in the Anaheim Colony area of Anaheim within walking distance of the Anaheim Packing District, the area’s popular, artisan-based multi-eatery dining establishment. 

“This is an excellent opportunity to develop an asset in an emerging area of one of the most sought after submarkets in Southern California,” said Shopoff Realty Investments Chief Executive Officer William Shopoff.  “We are very pleased to once again partner with Argosy Real Estate Partners, a high caliber company with an excellent reputation.”

John Santry

“The sale-leaseback structure of the acquisition provides cash flow during the entitlement phase of the new residential project,” added John Santry, executive vice president of Shopoff Realty Investments Land Division.  “The proposed replacement of this large warehouse facility with a beautifully designed residential development will follow the City of Anaheim’s current Residential Opportunity Overlay Zone for the area.”

Disclosures

This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers.  Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment.  There is no assurance that any strategy will succeed to meet its investment objectives.  Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 1120, Irvine, CA 92614, (844) 4-SHOPOFF.

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

Julie Leber                                                                         

Spotlight Marketing Communications                   

949.427.5172, ext. 703                    

julie@spotlightmarcom.com

www.shopoff.com

 or call (844) 4-SHOPOFF.

Capital Square 1031 Completes Three Retail DST Offerings

Louis Rogers

RICHMOND, VA – Capital Square 1031 announced three of its Delaware statutory trust offerings, comprising five grocery-anchored shopping centers in North Carolina and South Carolina, and one fitness center in Columbus, Ohio, have been fully subscribed by investors.

Approximately 65 investors subscribed to CSRA Columbus OH Fitness, DST; CSRA Grocery Portfolio I, DST; and CSRA Grocery Portfolio II, DST.

“We are pleased to fully subscribe these three DST offerings, each comprised of retail real estate anchored by a high quality, credit tenant,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “Our firm has closed 31 DST offerings since inception, and we look forward to continuing to provide investment grade, tax-advantaged real estate opportunities to investors.”

CSRA Columbus OH Fitness, DST includes a 53,206-square-foot, two-story fitness facility located at 3474 Sawmill Drive in Powell, a suburb of Columbus, Ohio. The building is 100 percent leased on a long-term basis to LA Fitness, the largest health club operator nationwide.

CSRA Grocery Portfolio I is comprised of three shopping centers anchored by Food Lion, a leading Southeastern and Mid-Atlantic supermarket retailer, in North Carolina and South Carolina.

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

Julie Leber                                                                         

Spotlight Marketing Communications                   

949.427.5172, ext. 703                    

julie@spotlightmarcom.com

www.CapitalSquare1031.com.

New Castle Hotels & Resorts Promotes Alex Lugo To General Manager Hilton Lexington

  

 

Alex Lugo

 SHELTON, CT — Gerry Chase, president and COO of New Castle Hotels & Resorts, a leading third-party management company and hotel developer, today announced the promotion of Alex Lugo to general manager of the 366 room Hilton Lexington Downtown.

        Most recently, Lugo was the general manager for the Westin Jekyll Island where he oversaw the pre-opening phase of the $41 million project. 

In its first six months, the hotel earned three consecutive number two rankings and ended the year in the top 10% for guest experience among 143 Westin Hotels in North America as well as a Trip Advisor Certificate of Excellence.

 For the past 12 years, Lugo has served in positions of increasing responsibility within the Starwood family of hotels, including The Westin Buckhead, Sheraton St. Louis City Center, The Westin Beach Resort and Spa in Ft. Lauderdale, Fla. and The Westin & Sheraton Grand Bahama complex. 

        "Alex’s leadership of the Westin Jekyll Island during both the pre-and post-opening phases, coupled with his success working in convention center markets, demonstrate his readiness for a more complex operation in a top 100 market.”  said Gerry Chase, president and COO in making the announcement.

 "Alex has earned the respect of his associates, hotel investors and market partners as well as the satisfaction of the hotel’s guests, and I have every confidence that he's ready for this next step in his career.

“After 35 years, we recognize that providing career opportunities to top performers is critical to New Castle’s continued success and I’m gratified that we were able to offer this opportunity to a talent like Alex."  

        "The Hilton Lexington enjoys tremendous demand drivers, two popular restaurants and meeting space that is second to none in the market," said Lugo.  

"But, I firmly believe that even a market leader can improve in terms of customer and associate satisfaction as well as investor returns.  

"I look forward to applying my diverse hotel experience in both resort and city center hotels to an urban market and continue driving those operational measures to new heights."  

Lugo holds a Bachelor’s degree in Hospitality Management from Florida International University. 

                

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

Lauralee Dobbins

Write Touch Public Relations

856-979-8929

Lauralee@WriteTouchPR.com

www.newcastlehotels.com

.