Monday, August 14, 2017

HFF arranges $8.8 million refinancing for retail center in Colorado Springs, CO

Rampart Village Center, Colorado Springs, CO

DENVER, CO – Aug.14, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it arranged an $8.8 million refinancing for Rampart Village Center, a five-building retail center totaling 96,296 square feet in Colorado Springs, Colorado.

HFF worked on behalf of the borrower, Vintage Companies, to place the 10-year, fixed-rate loan with a CMBS lender.  The securitized loan will be used to refinance an existing, maturing loan.

Rampart Village Center is a 93.24-percent-leased, Gold’s Gym-anchored retail center in northern Colorado Springs.  Located at 7601-7689 North Union Boulevard, the center is easily accessible via Interstate 25, Highway 21 and Academy Boulevard.

Leon McBroom
 Rampart Village Center services the growing Briargate neighborhood, which has more than 100,000 residents earning an average annual household income of approximately $100,000 living within a three-mile radius of the center.

HFF’s debt placement team was led by director Leon McBroom. 

“The borrower was the original developer and has owned the property for more than 30 years,” McBroom said.  “This refinancing will allow the borrower to continue to own this well-performing retail asset within the Briargate community, which the borrower calls home.”

For a complete copy of the company’s news 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 |

Graycor Opens San Jose, CA Satellite Office For $100 Million Pipeline of Project Activity

Timothy Hanifin
SAN JOSE, CA – A pipeline of more than $100 million worth of preconstruction and construction activity in Northern California – primarily made up of major retail renovation and repositioning projects – has prompted industry leader Graycor Construction Company to open a satellite office in San Jose.

Through the office, the company is managing projects including: Westfield Valley Fair in Santa Clara, the Great Mall in Milpitas, Northridge Mall in Salinas and Kerasotes ShowPlace ICON Theatres in Mountain View, Santa Clara and Laguna Beach.

Each project employs Graycor’s “Live Environment” approach, a proprietary strategy that allows retailers to remain open during construction, maintaining cash flow and market presence in today’s demanding retail environment.

 In the Bay area, projects are being managed by a quickly growing team of new and long-tenured Graycor project management and supervision professionals.

“Retail owners are under tremendous pressure to keep their properties updated as ‘destinations’ that offer the kind of personal experience that online shopping does not. Unfortunately, few – if any – owners have the luxury of closing during these renovations,” said Tim Hanifin, Vice President and General Manager of Graycor Construction Company.

“Maintaining a safe, accessible, attractive and profitable retail center during construction is a complex task, but companies with the ability to deliver that outcome have an acute advantage in what has become a very competitive retail market.”

 “Live Environment boils down to asking the right questions early, ensuring that we understand the sophisticated needs and objectives of our clients, and identifying what needs to happen to exceed those expectations,” said Brian Feckler, Construction Manager for Graycor Construction Company.

“What is the optimal time for work to be performed to minimize disruption? What housekeeping measures will maintain the highest level of safety and appeal at the facility? Are alternative walkways, custom fencing or other temporary changes needed to conceal construction staging?

“These are just some of the ways we encourage coordination and communication long before construction begins, so that we know what to purchase, schedule or execute as we pull off a seamless renovation. Our live environment approach has been successfully applied to a variety of project types including shopping centers, retail, hospitality and industrial.”

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

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

NAI Realvest’s Leasing in 60 Days at Well-Sited CommerCenters in Central Florida Total More Than 23,332 Square Feet

Michael Heidrich

ORLANDO, FL – Michael Heidrich, principal at NAI Realvest negotiated five new leases and four renewals within 60 days at five well-sited CommerCenters in central Florida representing landlords for the industrial space totaling 23,332 rentable square feet.

Hanging Moss CommerCenter, 6124 Hanging Moss Rd. is now 100 percent leased with Phalanx Strength & Conditioning’s new lease of 1,875 square feet.  Jeff Bloom, vice president at NAI Realvest represented the tenant;  

 At Carter CommerCenter, 902 Carter Rd., Top Notch Baseball leased 1,875 square feet; At East Orlando’s Goldenrod CommerCenter, 1476 N. Goldenrod Rd. Orlando’s Finest Mobile Detailing LLC leased 2,191 square feet;

Wine distributor I Planet LLC, leased 2,000 square feet at Monroe CommerCenter South, 707 Progress Way, Sanford; and in Kissimmee, Diamond Vacation Homes LLC leased 2,170 square feet at Poinciana CommerCenter East, 1829 Business Center Lane.   

Jeff Bloom
At three of those properties, Heidrich brokered four lease renewals for more than 13,011 square feet.   Root Grow Bloom assumed and renewed the current long-term lease of 4,200 square feet from Sunshine Hydroponics, and Bottled Ocean, Inc. renewed its lease of 2,605 square feet at Hanging Moss CommerCenter. 

  Dynamic Medical Systems, LLC renewed the lease of 2,206 square feet at Goldenrod CommerCenter, and at Monroe CommerCenter South Flight Avionics of North America Inc. renewed their lease of 4,000 square feet.

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

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


Daum Commercial Facilitates Two Inland Empire Industrial Acquisitions Totaling 112,671 SF

Ontario, CA Warehouse Sold for $5.6 Million
INLAND EMPIRE, CA  – DAUM Commercial Real Estate Services brokered two industrial acquisitions in the Inland Empire, encompassing a combined 112,671 square feet for a total consideration of over $13.1 million.

Chris Migliori, Executive Vice President in DAUM Commercial’s Newport Beach office, represented the buyers in both transactions.

            “Despite a record level of new industrial construction in the Inland Empire, vacancy rates in the region are expected to remain in the 4 percent range. Demand continues to exceed supply,” explains Migliori. “Smaller industrial buildings in the 40,000 to 60,000 square-foot range have vacancies below 2.5 percent. Increasing land values and construction costs are driving up rents and sale prices.”

            Migliori notes that small-size warehouses can be double the cost-per-square-foot to build, resulting in tremendous competition for existing product.

Corona, CA Building Sold for $7.5 Million

            The two recent acquisitions include:

Transaction #1: Corona building acquired for $7.5 million

            DAUM brokered the $7.5 million acquisition of a 68,394 square-foot building in Corona, California on behalf of the buyer, Excel Business Park, LLC, a Corona-based real estate developer. The seller was Newport Trading, LLC.

            The property, which was recently vacated by a furniture distribution company, is currently 100% vacant.

“The buyer plans to complete interior and exterior upgrades within the next week,” says Migliori.

            Migliori will oversee leasing for the property, and notes that the building is well-suited for warehousing and distribution, and could also be easily adapted to light manufacturing.

            The property features six dock-high loading doors, 2,000 amps of power, and a fully installed high pile racking system, as well as convenient access to the I-15 and State Route 91.

            The building is located on a 157,252 square-foot lot at 1228 Sherborn Street in Corona, California.

Chris Migliori
Transactions #2: Vitamin Manufacturer Purchases 44, 277 SF Warehouse in Ontario

            DAUM Commercial also facilitated the $5.6 million acquisition of a 44,277 square-foot warehouse in Ontario, California, on behalf of the buyer, a manufacturer of vitamins and supplements. The buyer will occupy the entire property.

            “Vitamin and supplement manufacturing is a highly competitive industry, so it was critical that the buyer invest in state-of-the-art space for its research/development and manufacturing operations,” explains Migliori. “Our team identified this newly-constructed, Class A industrial facility, which met the needs of our Client.”

            The building sits on 1.83 acres and features 30’ warehouse clearance, four dock-high loading doors, one ground-level door, and 4,485 square feet of office space.

            The seller, Mission XC, LLC, is a strong regional developer and was represented by Henry Hong and Michael Lee of Lee & Associates.

            The property is located at 1320 West Mission Boulevard in Ontario, California.

            DAUM has ten offices throughout Southern California and Arizona. More information is available at

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

Lauren Burgos / Elisabeth Manville
Brower, Miller & Cole
(949) 955-7940