HFF announces $149 million refinancing of Genesis Campus Point in San Diego, CA

SAN DIEGO, CA –– HFF announces the $149 million refinancing of Genesis Campus Point, a three-building, state-of-the-art life science campus totaling 314,135 square feet in the UTC submarket of San Diego, California.

 

Timothy Wright

The HFF team worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., to secure the 48-month floating-rate loan.

Genesis Campus Point is located at 4224 and 4242 Campus Point Court and 10210 Campus Point Drive in San Diego, which ranks as the third largest biotech market in the country behind Boston and San Francisco.

  Situated just east of Interstate 5 and directly south of its interchange with Interstate 805, the property is positioned within the heart of the UTC submarket, referred to as the “Golden Triangle”, and is proximate to the UCSD health system, Scripps medical campus, Westfield UTC Mall, Torrey Pines Reserve and Golf Course and numerous dining and entertainment venues. 

Olga Walsh

The property comprises three Class “A” life science buildings, an underground parking facility and an amenity building that features a fitness center with lap pool, yoga studio, spin studio and showers/lockers; an on-site restaurant/bar and conference centers. 

Todd Sugimoto

Tenants at the life science campus include Poseida Therapeutics, MabPlex USA, Heron Therapeutics, Celgene, Tocagen, BioLabs San Diego LLC and AveXis Inc.

The HFF debt placement team representing the borrower included senior managing director Tim Wright, managing director Todd Sugimoto and senior associate Olga Walsh.

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Bureau of Real Estate, License Number 01385740.

Phase 3 Real Estate Partners, Inc. (P3RE) is a progressive real estate company dedicated to fostering the growth of the life science community by providing premiere, Class A environments that meet the needs of companies today and in the future.  

P3RE’s properties are located in the epicenters of the life science markets in San Diego and San Francisco.  These are innovative urban centers for the life sciences and represent two of the top three life science clusters in the world.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

Veteran Real Estate Developers Team Up for Upper Westside Development in Atlanta, GA

Rendering of planned 8 Westside corporate campus,
8th and Howell Mill, Atlanta, GA

Jim Meyer

 ATLANTA, GA – In an effort to meet the city’s demand for Class A creative workspace, two veteran real estate developers are joining forces to bring 8West, located at the corner of 8th and Howell Mill, to the Upper Westside.

Developers Jim Meyer of Atlantic Capital Properties and Mack Reese of Gateway Ventures envision the space to attract technology and creative companies who will thrive in authentic, walkable and amenity-rich environments just minutes from some of the city’s top restaurants, retailers and entertainment venues.

“The timing to integrate a Class A workspace component into the retail hub of the Upper Westside could not be better,” said Meyer of Atlantic Capital Properties.

“When we worked with Gateway Ventures on the development of Centergy at Tech Square in the early 2000s, we found there was demand for space from companies who wanted to be close to the Georgia Institute of Technology (Georgia Tech) for their recruiting and research needs.

Mack Reese

"As Midtown has changed and the economy evolved, we now see a similar demand for space on the Upper Westside. With 8West, we have designed a project which will appeal to creative companies and individuals who value walkability and unparalleled access to the best restaurants and entertainment venues in Atlanta – a place where people want to be.

"I’m thrilled to be working with Mack and Gateway Ventures again as we aspire to bring the same connection to the west side of Georgia Tech’s campus that we brought to the east side 17 years ago.”

For more information, please contact:

Taylor Rowden/Hilary Harmon Liz Lapidus PR 404-688-1466 Taylor@lizlapiduspr.com

Hilary@lizlapiduspr.com

HFF announces sale of one of Downtown Denver’s most prominent mixed-use towers

1600 Glenarm Place, Downtown Denver, CO

Jordan Robbins

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of 1600 Glenarm Place, an iconic, mixed-use high-rise located on the 16^th Street Mall in downtown Denver, Colorado.

The HFF team marketed the asset exclusively on behalf of the seller, a joint venture between RedPeak Properties and Allstate Investments, and procured the buyer, Northland Investment Corporation. The tower was purchased along with a 0.77-acre land parcel for future development located at 14^th & Glenarm.

1600 Glenarm Place was originally constructed in 1967 as an office tower known as the Security Life Building and was subsequently converted in 2006 by RedPeak Properties into one of downtown Denver’s first and most prominent residential and retail mixed-use projects. 

The building comprises 333 luxury apartment units and approximately 29,000 square feet of commercial space, including premium frontage along Denver’s 16^th Street pedestrian mall. 

Jeff Haag

 The 31-story building has a WalkScore® of 96 and is within walking distance of nearly 40 million square feet of office space and two blocks of light rail access. 

The residential units average approximately 980 square feet in a range of studio, one-bedroom, two-bedroom and penthouse layouts. 

Resident amenities include an outdoor terrace with barbecue grills and fireplace, state-of-the-art fitness center with Fitness on Demand and a yoga/Pilates studio, demonstration kitchen, cyber lounge, conference room, movie theatre, game room, resident library and reading room, valet parking, 24-hour concierge service and door-to-door room service from Earl’s Restaurant on the property’s ground floor. 

The HFF investment advisory team representing the seller included managing director Jordan Robbins and directors Jeff Haag and Anna Stevens.

“1600 Glenarm is a one-of-a-kind, legacy asset within the downtown Denver market and by far one of the most recognizable assets in the area,” Robbins said. 

Anna Stevens

“RedPeak was extremely forward-looking in 2006 with its conversion from office space into a mixed-use residential and retail building, which has allowed 1600 Glenarm to maintain its prominent image within the market since its completion.”

“Northland recognized the irreplaceable nature of this asset, which marks their entry into the Denver market," Robbins continued.  “This, coupled with their ability to implement an aggressive value-add strategy, will only serve to further the property’s position within downtown.”

For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

www.allstateinvestments.com.

https://redpeak.com/.

HFF announces $90M refinancing of Zenith Ridge Corporate Campus in suburban Pittsburgh, PA

Zenith Ridge Corporate Campus, Canonsburg, PA

PITTSBURGH, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $90 million refinancing of Zenith Ridge Corporate Campus, three Class A office buildings totaling 486,000 square feet in the Pittsburgh-area community of Canonsburg, Pennsylvania.

Mark Popovich

The HFF team worked on behalf of the borrower, Quattro LP, a partnership comprised of principals Jim and Jack Scalo, John Verbanac and Charles Zappala, to secure the 10-year, fixed-rate loan through Starwood Mortgage Capital. 

The property, which is managed, leased and developed by Burns Scalo Real Estate, comprises Zenith Ridge 1, 2 and 3, located in Southpointe Business Park (a southwestern suburban area of Pittsburgh).

The campus setting offers tenants walking trails, outdoor exercise stations, ping pong tables, communal fire pits, outdoor patios and outdoor meeting areas. 

The campus offers a “live, work, play” environment featuring South Pointe Town Center’s residential, retail, restaurant and hospitality options all within a short walk.

The fully leased Zenith Ridge is sustainably managed by Class G, LEED-certified and home to several tenants, including Ansys and EQT. 

The HFF debt placement team representing the borrower included senior managing director Mark Popovich.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

www.burnsscalorealestate.com 

NAI Realvest Negotiates Four Leases for New and Expanding Businesses At Orlando, FL Area Industrial Centers

Michael Heidrich

ORLANDO, FL --- NAI Realvest recently closed on four multi-year leases on behalf of the landlords for new and expanding businesses at Orlando area industrial centers totaling 14,902 rentable square feet.

Michael Heidrich, principal at NAI Realvest brokered a lease for Fence Hut, LLC serving the Orlando, Lakeland and Tampa areas with fast affordable fencing installation.  

The new tenant leased 4,382 square feet in Goldenrod CommerCenter, 1476 N. Goldenrod Rd. in east Orlando.

Heidrich negotiated an expansion and renewal lease agreement with Team O.C. Weightlifting LLC d/b/a Altamonte Crossfit for 6,450 square feet at 360 and 362 Melody Lane in Casselberry in east Seminole County.  The tenant renewed its lease of 4,450 square feet and expanded into another 2,000 square feet.  The landlord is Melody Lane Partners, Ltd.

Patty Nolff

Heidrich and NAI Realvest Associate Patty Nolff negotiated a lease agreement at Hanging Moss CommerCenter with RTR Suppliers, Inc., a wholesale commercial refrigerating equipment supplier serving Florida, The Carolinas and Virginia. 

The tenant renewed a lease of 5,250 square feet and also expanded into an additional 1,875 square feet for a total of 7,125 square feet at 6124 Hanging Moss Rd.

Heidrich also negotiated a renewal lease at Hanging Moss CommerCenter with long-time tenant, Jacksonville-based Fastenal for 3,395 square feet at 6148 Hanging Moss Rd.   Fastenal is the largest fastener distributer in North America.  

For more information, please contact:

Beth Payan or Larry Vershel, Larry Vershel Communications,

407-644-4142 Lvershelco@aol.com  or beth@larryvershel.com

Marcus & Millichap Brokers $1.1 Million Sale of Dollar General Site in Laurel, MS

 

Daniel Hurd

LAUREL, MS,  July 31, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Dollar General, a 9,026-square foot net-leased property located in Laurel, Miss., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,107,700.

The buyer, a private investor, was secured and represented by Daniel Hurd, an investment specialist in Marcus & Millichap’s Tampa office. Elizabeth Williams, Broker, assisted in closing this transaction. 

“The dollar store sector has continued to be white-hot this year," stated Mr. Hurd.

Elizabeth Williams

"In an environment where so many other retailers are consolidating, Dollar General dominates the rural markets where their competitors cannot afford to operate in.

"We are selling deals all across the country and there is no sign that things will slow down anytime soon. My team and I are on pace for a record year and we look forward to a continued growing market share moving forward,”

Newly constructed in 2018, Dollar General is situated on a 1.44-acre parcel. 

The city of Laurel, Miss., has over 8,000 inhabitants within a 5-mile radius of the Dollar General site. Dollar General is located at 5314 Highway 15 in Laurel, Miss.

For more information, please contact:

Whitney  Davis,

Whitney.Davis@marcusmillichap.com

or

Ari Ravi

Regional Manager, Tampa

(813) 387-4700