Tuesday, September 25, 2018

Bridge Investment Group’s subsidiary (Bridge Office Fund Manager LLC) Acquires The Campus at Sunrise in Metro DC

The Campus at Sunrrise, Reston, VA

ATLANTA, GA – Bridge Investment Group’s Office Division announced the acquisition of The Campus at Sunrise, a 255,000-square-foot Class-A creative office campus located in Reston, Va.

The three-building site features premier access to local dining, retail and mass transit and is set on 12 acres.

Significant renovations for all three buildings will begin later this year, with plans calling for updated lobby areas, enhanced tenant amenity center, next-generation flexible spec suites, communal outdoor areas and a full menu of special events and entertainment for office tenants.

Erin Cotter
“The acquisition of The Campus at Sunrise presents an opportunity to create a next-generation workplace in one of the nation’s most dynamic submarkets,” said Tommy Spinosa, Acquisitions Director of Bridge Investment Group.

Tommy Spinosa
 “Employers will continue to gravitate to this area due to the high degree of connectivity with transit and live-work-play options, which aligns with Bridge’s long-term strategy of capitalizing on well-positioned value-add assets.

"We will draw on our broad range of experience in the office sector to create a workplace community that resonates with top professional talent and generates the bottom-line results our tenants seek.”

Originally built between 1987 and 1990, The Campus at Sunrise is currently 85 percent occupied. The property is a short walk from the Wiehle-Reston East Metro Station and just one half-mile from the future Reston Station mixed-use community that will feature more than 100,000 square feet of restaurants, shops and service-oriented retailers, upon completion.

Josh Masi
 The Campus at Sunrise is also expected to benefit from the more than 3,000 residential units and 250,000 square feet of retail being delivered over the next few years within a 1-mile radius.

Bridge has been active in the market this year. The company purchased O’Hare International Center in Rosemont, Il. this week, which came on the heels of the August purchase of the 32-acre Lenox Park office campus in metro Atlanta that includes 1 million square feet of Class A Office.

The recent acquisitions bring the firm’s year-to-date total to more than 4 million square feet of office space closed nationally.
Office spaces ranging from 2,000 to 13,000 square feet are currently available, with the first round of spec suites tentatively scheduled to deliver in Q2 2019.

Matt Bundy
Bridge Commercial Real Estate, the operating company for Bridge Office, will provide property management for the campus and oversee the leasing which will be led by Erin Cotter, Josh Masi and Matt Bundy of Cushman & Wakefield.


Nick Banaszak
1718 Peachtree St., Suite 1048 
Atlanta, GA 30309
M: 256-457-5384

Sarah Weston
The Wilbert Group

Frontier Real Estate Investments Announces Development of New Haven Marketplace in Ontario Ranch, CA

Dan Almquist
 NEWPORT BEACH, CA and ONTARIO RANCH, CA — Frontier Real Estate Investments - a privately held commercial real estate investment firm known for its entrepreneurial and innovative approach to development - announced that it has broken ground on New Haven Marketplace, a new lifestyle center in Ontario Ranch, California.

Designed to serve the master planned community of New Haven in Ontario Ranch — the 34th top-selling new home community in the nation (sixth in California) — New Haven Marketplace is anticipated to open in the fall of 2019.

“We seized the opportunity to develop New Haven Marketplace to serve the Ontario Ranch community,” said Dan Almquist, Managing Partner of Newport Beach-based Frontier Real Estate Investments.

“Thanks to Brookfield’s vision, this master planned development has quickly become one of the next great places to live in Southern California. We knew that our approach to retail place making would deliver a center to match.” 

Dave Bartlett
Known for bringing new life and an authentic sense of community to their mixed-use retail projects, Frontier Real Estate Investments envisions New Haven Marketplace as a lively new destination in the heart of Ontario Ranch.

We are very happy partnering with Frontier to bring New Haven’s home buyers what they want in a lifestyle center,” said Dave Bartlett, VP Land, Brookfield Residential.

 “This new destination amplifies the many attractive amenities in New Haven’s neighborhoods by creating a place that goes beyond shopping and dining to become part of the community experience.”

 Located on Ontario Ranch Road between New Haven and Haven Avenues, the center will be anchored by Stater Bros. Market and will include a dynamic mix of dining, retail and services spanning approximately 95,000 square feet.

Other confirmed tenants at New Haven Marketplace include: Chase Bank, Carl’s Jr., Jersey Mike’s Subs, Dunkin’ Donuts, Kona Cleaners, Pacific Dental Services, and Great Clips.

New Haven Marketplace will pay homage to Ontario’s rich agrarian history with farmhouse-inspired architecture and extensive landscaping.


Jordan Kruk
Kitchen Table Marketing + PR

For Frontier Real Estate Investments: 
Carrie Williams
Kitchen Table PR

For Brookfield Residential: 
Jack Skelley

NAI Realvest Negotiates Four Industrial Leases Marking Business Growth at Commerce Centers throughout Greater Orlando

Michael Heidrich

ORLANDO , FL– NAI Realvest recently negotiated industrial leases totaling more than 18,732 rentable square feet at three Commerce Centers in the greater Orlando area with new and expanding companies in the manufacturing, technology and service industries.
Principal Michael Heidrich negotiated the following transactions representing the local landlords:     

Ben Brenner
 At Goldenrod CommerCenter, 1476 N. Goldenrod Rd. , Everix, Inc. signed a new lease of 6,782 square feet.  The tenant is a photonics industry manufacturer of high performance optical filters who currently employs a staff of seven.  Ben Brenner of C. Brenner, Inc. represented the tenant.

 At Hanging Moss CommerCenter, 6110 Hanging Moss Rd. north of Baldwin Park , H & H Home Insp LLC leased 2,000 square feet for its staff of professionals providing a wide variety of inspection services for the central Florida area’s real estate industry. 

Jordan Bohannon
 Jordan Bohannon of Avison Young represented the tenant.    Also at Hanging Moss, Path Medical-Apex renewed its lease of 6,200 square feet.  The tenant, a medical diagnostic imaging center, was represented by Jason Goldman of No Limit Real Estate, LLC.

 In Winter Garden west of Orlando, Heidrich brokered a lease renewal for 3,750 square feet at Carter Commerce Center, 902 Carter Rd., the corporate office location of Rena Investments LLC dba Low Ball Louies.  The family-owned and run cigar business has eight central Florida branch locations.


Michael Heidrich, Principal, NAI Realvest,
407-875-9989 mheidrich@realvest.com

Robin L. Webb, CCIM, Cha, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest 407-875-9989 Rwebb@realvest.com

 Beth Payan, Larry Vershel Communications,
407-644-4142 Lvershelco@aol.com.     

Long Beach Exchange Announces Three New Additions

Stephen Thorp
LONG BEACH, CA  – Long Beach Exchange, the newest retail and lifestyle destination in Long Beach, announced exciting upcoming additions to its impressive tenant roster, including two new dining options and one new retail store.

The new tenants include Quarters Korean BBQ, The 908 and For Eyes

“The community has been so welcoming to Long Beach Exchange,” says Steve Thorp, Director of Acquisitions/Partner of Burnham-Ward Properties, developers and managers of the center.

 “We are extremely grateful to have received such positive feedback and support from Long Beach residents, office tenants and visitors, and are proud to be able to continue to bring more great retail and dining options to the area.”


Jordan Kruk
Kitchen Table Marketing + PR

Ackerman & Co.’s Land Group Represents Drapac Capital Partners in $8.4 Million Purchase of 1.3-Acre Site in Downtown Atlanta

1.3-Acre Land Parcel is Next to Allen Plaza Tower,
Downtown Atlanta, GA

ATLANTA,GA – Ackerman & Co. announced its Land Group has represented Drapac Capital Partners in the purchase of 50 Ivan Allen Jr. Boulevard, a prime 1.3-acre land parcel in downtown Atlanta, for $8.4 million. The seller was Regent Partners and Worthington Hyde Partners.

John Speros
The Land team, led by John Speros of Ackerman & Co. and Kyle Gable of Pioneer Land Group, represented the buyer.

Drapac will hold the property for future development or sale. The parcel – bounded by Spring Street, William Street, Ivan Allen Jr. Blvd. and West Peachtree Place – is located next to the 348,658-square-foot 55 Allen Plaza office tower.

“Drapac Capital Partners believes in the growth of Atlanta’s downtown core,” said Speros. “Given the demand for land and rising prices downtown, we believe virtually all new development in this area will be high-rise and support even higher land prices.”

Kyle Gable
The property offers immediate access to the I-75/85 connector and the Civic Center MARTA station.

To date, the Land Group has represented Drapac, an international property investment group with U.S. headquarters in Atlanta, in land transactions in excess of $39 million.


86-Room Tampa Hampton Inn Purchased for $12.6 Million

Hampton Inn Tampa-Airport North, Tampa, FL

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of the five-story, 86-room Hampton Inn Tampa-Airport North, according to Ari Ravi, regional manager of the firm’s Tampa office. The hotel sold for $12.6 million, which equates to $146,512 per room.

Jonathan Ruprai
“There is a healthy appetite for upper-midscale hotels in Tampa,” says Jonathan Ruprai, senior director of Marcus & Millichap’s National Hospitality Group.
“Our marketing campaign highlighted this asset’s premium brand, market and location and we generated a remarkable amount of activity, which led to multiple offers in a short amount of time.
" The preeminent interested party, a Canadian-based investment group, seized the opportunity to acquire the Hampton Inn by moving quickly and offering an attractive price with strong terms, which ultimately positioned them to be the winning bidder.”
Ruprai represented the seller and procured the buyer. The hotel is situated seven miles from Tampa International Airport and surrounded by more than 6 million square feet of office space in the North Tampa submarket.
The Hampton Inn was constructed in 2001, and recently went through the Forever Young Initiative renovation on the interior.


Whitney Davis
Marketing Coordinator
Marcus & Millichap
4030 W. Boy Scout Boulevard
Suite 850
Tampa, FL 33607
(813) 387-4700 main
(813) 387-4743 direct