JLL completes 46,000-SF lease doubling Oscar's insurance office space at The Circuit Property in Tempe, AZ

The Circuit Office Complex, Tempe, AZ

PHOENIX, AZ – On behalf of New York-based insurance company Oscar, the Phoenix office of JLL has completed a 46,000-square-foot lease that will double Oscar’s presence at The Circuit creative office project in Tempe, Arizona and pave the way for the creation of 400 new local jobs by 2020.

Ryan Bartos

The expansion brings Oscar’s total footprint at The Circuit to 139,000 square feet.

It also allows for the expansion of the company’s Concierge Team, a group that relocated to the property in September 2016 and since that time has emerged as a core component of Oscar’s member-focused platform.

“The open, creative design of The Circuit is the perfect environment for Oscar’s culture of collaboration,” said JLL Executive Vice President Ryan Bartos, who represented Oscar in its lease negotiations. 

“It was a pleasure to help Oscar locate and lease this space in 2016, and it is great to see how they have used their Tempe location to continue to expand on their mission.”

“The Circuit has been an excellent foundation for Oscar to build our Concierge Team and recruit talented employees with a clear passion for providing exceptional support to our members,” said Mario Schlosser, CEO and co-founder of Oscar. 

“The work our Tempe team does every day is crucial to Oscar’s vision for a more member-focused health care experience, and we are thrilled to be investing more in Arizona as our membership grows.”

Mario Schlosser

Located at 615 S. River in Tempe, The Circuit is a 200,000-square-foot creative office project that was redeveloped between 2014 and 2015 by EverWest Real Estate Investors.

The redevelopment transformed a former Jabil Circuit manufacturing facility into an ultra-modern creative office project featuring 17-foot ceilings, 14-foot floor-to-ceiling windows, more than 60 skylights and glass roll-up doors that connect to outside patios and entertainment areas.

Employees who bike to work benefit from a separate area with showers and lockers. Those who commute by car are served by a 7/1,000 parking ratio, which is approximately 40 percent higher than most competing office building parking ratios in the market.

The Circuit sits on 16 acres just southeast of the Loop 101-202 interchange, offering immediate access to the Valley’s major transportation routes and prime access to the Valley’s skilled labor pool. It is minutes from Sky Harbor International Airport, downtown Tempe and Arizona State University.

Arizona State University Campus

Oscar, one of the country’s fastest growing health insurance companies, will move into its new space in summer 2019.

Members can easily access their health history and account information via hioscar.com and our iOS and Android apps.

Say hi or learn more at https://hioscar.com or follow us at https://twitter.com/OscarHe alth.

Contact: 

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

 ir.jll.com or www.jll.co m.

Stos Partners Enters Texas Market with $88 Million Industrial Acquisition

CJ Stos

 LAREDO, TX – Stos Partners, a privately held commercial real estate investment and management firm, has acquired an eight-building, 1,352,047 square-foot multi-tenant industrial portfolio in the U.S. border city of Laredo, Texas in an off-market transaction for a total consideration of $88 million.  

The asset – Stos Partners’ first in Texas - was purchased in JV partnership with institutional investor Washington Capital Management on behalf of one or more of its investment clients.

“This is a milestone opportunity for any investor,” says CJ Stos, Principal of Stos Partners. “Our ability to source an asset of this magnitude off-market and significantly increase its value during escrow speaks to the depth of our capabilities, both as real estate operators and investors.”

Stos Partners was successful in attracting and signing several new leases during escrow, adding to a tenant base comprised primarily of publicly traded credit tenants.

Jason Richards

“This submarket commands an industrial presence from some of the strongest companies in the U.S.,” says Stos. 

“The property is just five miles from the City of Laredo’s World Trade Bridge and World Trade Port of Entry, which is the busiest commercial crossing in the United States, facilitating more than $300 billion in imports and exports annually.”

The City of Laredo is widely recognized as the number one inland port along the U.S.-Mexico border. 

More than 2.5 million trucks crossed the border in 2017, and the market is also home to 510 freight forwarders, 210 trucking companies, and 105 U.S. Customs Brokers.

“The Laredo submarket has historically been a challenge to transact in due to tightly controlled supply.  This combined with the unwavering demand by national companies with a must have presence make it one of the most attractive industrial markets in the country,” says Jason Richards, a Partner at Stos Partners.  

“Industrial vacancy in Laredo stands between 1 and 2 percent, with vacancy rates averaging 4.65 percent and never exceeding 8.8 percent over the last 16 years. Acquiring this kind of portfolio in this market is a rare opportunity and will provide strong returns and growth on a long-term basis.”

CONTACTS:

Lisa James/Jenn Quader

Brower Group

(949) 955-7940

ljames@brower-group.com

www.stospartners.com.

NAI Realvest Completes Three New Multi-Year Leases that Boost Three Orlando Commerce Centers to 100 Percent Occupancy

Kristi Rujano

Michael Heidrich

ORLANDO , FL – NAI Realvest recently negotiated three new leases at three Orlando Commerce Centers boosting occupancy to 100 percent at all including the 81,293 square foot Airport Commerce Center; 93,374 square foot Hanging Moss CommerCenter and the 26,577 square foot Countyline Industrial Park.

Michael Heidrich, a principal at NAI Realvest and Associate Brad Gifford negotiated a lease agreement representing landlord Parkline Properties, LLC of Columbus, Ohio at 8350 Parkline Blvd. off Orange Avenue and McCoy Road.

The new tenant, ABN Beauty Supplies, LLC d/b/a Sally’s Beauty Supply, the world’s largest retailer of professional beauty supplies, leased Suite 15 with 4,160 square feet and was represented by Kristi Rujano of Orlando Regional Realty.

Andy McCall

Heidrich represented landlord Hanging Moss RE, LLC in negotiations for the lease of 4,000 square feet to TLC Properties, Inc. at 6100 Hanging Moss Rd.  

Andy McCall of Beau Box Commercial Real Estate represented the tenant, a real estate holding company.

At Countyline Industrial Park , 940 W. Oakland Ave. in the town of Oakland in West Orlando , Heidrich brokered a lease for 2,700 square feet on behalf of Landlord Countyline Suites LLC of Winter Garden.  

Tenant Solar Sage Corp. specializes in solar panel installation. 

CONTACTS:

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 or beth@larryvershel.com  

Rockbridge and Hospitality Ventures Management Group (HVMG) Acquire 159-Room Sheraton Jacksonville, FL.

Sheraton Jacksonville Hotel, 10605 Deerwood Park Boulevard, Jacksonville, FL

ATLANTA, GA, Nov. 7, 2018–- Rockbridge and Hospitality Ventures Management Group (HVMG), today announced the acquisition of the 159-room Sheraton Jacksonville Hotel in Fla., in a joint venture for an undisclosed sum.

HVMG also will operate the hotel and oversee a planned $1.25 million property upgrade.

Robert S. Cole

“The Sheraton Jacksonville Hotel marks our fourth hotel in Florida and HVMG’s second Sheraton management take-over in 2018., said Robert S. Cole, president and CEO, HVMG.

"Over the past ten years, HVMG has managed 17 hotels and resorts in the state of Florida, representing significant market knowledge and expertise.

 “Following the million-dollar-plus renovation, the hotel will enhance both the fitness and meeting space areas securing its position in the Jacksonville market as the preferred lodging option for area visitors.

"We are confident these upgrades will be received well by both corporate and leisure guests and maximize profitability.”

Jim Merkel

The $1.25 million enhancement will focus on modernizing and expanding the hotel’s current fitness center doubling the size, as well as enhancing public area amenities and meeting space technology. 

 “We have a long-standing relationship with HVMG that spans over 20 years,” said Jim Merkel, CEO, Rockbridge. “The Sheraton is a great fit for our teams, and we are excited to work together, again!”

Located at 10605 Deerwood Park Blvd., the six-story hotel is strategically located in the heart of the Southside of Jacksonville convenient to the St. Johns Town Center and surrounded by large corporate campuses.

CONTACT:

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com

www.hvmg.com 

 www.rockbridgecapital.com

          

Hold-Thyssen Closes $1.15 Million Retail Investment Sale of Historic Intercoastal Storefront in Melbourne, FL

                                            

559-569 West Eau Gallie Boulevarde, Melbourne, FL

                                                                             

MELBOURNE, Fla.  --- Hold-Thyssen, Inc., a full service commercial property firm based in Winter Park , recently overcame several obstacles and multiple delays to close on the $1,150,000 sale of an historic intercoastal storefront building at 559-569 W. Eau Gallie Blvd. in Melbourne .   

 

Saxon Evans

Saxon Evans, director of investment sales at Hold-Thyssen, who brokered the sale on behalf of Seller Highland Investment LLLP, said the art district property comprised of six suites including the owner’s office is fully leased to artsy tenants. 

Numerous improvements have been made to the 7,550 square foot retail building located a couple of blocks from the causeway over the intercoastal waterway.    

Buyer Delray Beach-based Kahilt Corp. also owns over 15 other properties in Florida and plans to continue leasing this property to current and future tenants.

 The 0.2 acre site offers street parking on both Eau Gallie Blvd. and Highland Ave. , a high profile, signalized corner.

“The deal took about two years from listing to closing,” Evans explained. “Due to the seller’s long ownership, challenging issues were worked through especially missing documentation that was located, verified and reissued up until the last minute before closing. We couldn’t have done it without the help of good sellers and an understanding buyer.”    

Hold-Thyssen provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current management portfolio includes more that 100 commercial properties throughout the United States .

CONTACTS:

           

Saxon Evans, Director of Investment Sales, Hold-Thyssen, Inc.

407-691-0505 Sevans@holdthyssen.com

Robert P. Hold, Principal, Hold-Thyssen, Inc.

 407-691-0505, bhold@HoldThyssen.com

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 

407-644-4142 Lvershelco@aol.com  

Hanley Investment Group Arranges Sale of Food 4 Less and Rite Aid Shadow-Anchored Multi-Tenant Shopping Center in Los Angeles for $9.8 Million

Maywood Town Center, Maywood, CA

MAYWOOD, CA -- Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm has completed the sale of Maywood Towne Center, a 20,510-square-foot multi-tenant retail center that is shadow-anchored by Food 4 Less and Rite Aid in Maywood, California. The sale price was $9.8 million.

Ed Hanley

Hanley Investment Group President Ed Hanley and Executive Vice President Bill Asher represented the seller, a family trust based in Los Angeles. 

The buyer was a private investor from Los Angeles and was represented by Marcus & Millichap in Los Angeles.

The property is located at 4444 Slauson Avenue and 5921-5925 S. Atlantic Boulevard in Maywood. 

The signalized intersection location at Slauson Avenue and Atlantic Boulevard, the two main thoroughfares in the city, feature more than 54,000 cars per day. 

The property is also situated one mile from the Interstate 710 on/off ramps with more than 177,000 cars per day.

According to Asher, this was the first time the property had been on the market in 33 years since it was acquired from the original developer when it was completed in 1985. 

The 1.43-acre property was 78 percent occupied at the time of sale.

“The buyer acquired an outstanding multi-tenant retail investment in an established infill Los Angeles location, with upside potential to lease up 22 percent vacancy in the immediate future,” said Asher. 

Bill Asher

“Approximately 100 percent of the occupied square footage is leased to a favorable mix of internet-resistant restaurant and service-based tenants, a combination of retailers that will continue to be the most attractive to investors moving ahead.

"Nearly 90 percent of the occupied square footage is leased to national/regional retailers including Dental Masters, Ace Cash Express, L.A.’s Auto Insurance, Las Islas Marias, WaBa Grill, Wateria, Wingstop and Yum Yum Donuts.”

Maywood Towne Center features five points of ingress/egress along Slauson Avenue (23,500 cars per day) and Atlantic Boulevard (31,000 cars per day) with prominent pylon signage at the intersection and on Atlantic Boulevard, which was appealing to investors, according to Asher. 

“Investor demand for multi-tenant retail assets leased to internet-resistant, national credit tenants in dense infill locations with an opportunity to improve cash-flow long-term through additional lease-up will continue to be the most attractive opportunities for investors in 2019,” Asher said.

 

CONTACTS:

Anne Monaghan                                             Bill Asher, EVP
Monaghan Communications                        Hanley Investment Group
830.997.0963                                                  949.585.7684

www.hanleyinvestment.com. 

Ware Malcomb Promotes Alicia Zaro to Studio Manager, Interior Architecture & Design in Los Angeles, CA Office

Alicia Zaro

LOS ANGELES, CA (Nov. 7, 2018) – Ware Malcomb, an award-winning international design firm, today announced Alicia Zaro has been promoted to Studio Manager, Interior Architecture & Design in the firm’s Los Angeles office. 

In this role, Zaro will lead Ware Malcomb’s Interior Architecture & Design Studio in Los Angeles and manage select projects.

Zaro joined Ware Malcomb in 2014 and has since been on a fast growth path at the firm. She brings extensive interior architecture and design expertise to the Ware Malcomb team, contributing strong design, programming and visioning. 

Radwan Madani

She is well versed in all facets of interior design, including space planning, schematic design, design development and overall project management. Zaro has managed a variety of interiors projects including creative office, education, retail, hospitality, public, financial and entertainment.

“Alicia’s design talent and strong commitment have been instrumental in opening new doors for our Los Angeles interiors practice and winning new projects and accounts,” said Radwan Madani, Principal of Ware Malcomb’s Los Angeles office. 

“It has been exciting to witness Alicia’s tremendous growth, and we look forward to her continued success in leading our interior design practice in the LA market.”

For more information, visit waremalcomb.com/news and view Ware Malcomb’s Design Highlights video at youtube.com/waremalcomb.

CONTACTS:

Rachel Reenders

VP Public Relations, KCOMM for Ware Malcomb

rachel@kcomm.com

Kelly Teenor, Director, Marketing,
 949.660.9128, 
kteenor@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 
949.660.9128, 
mbissonnette@waremalcomb.com

Ware Malcomb Los Angeles

915 Wilshire Blvd. Suite 2150

Los Angeles, CA 90017

p. 310.903.4000

RIVERGATE KW RESIDENTIAL Furthers Expansion in South Florida, Carolinas with Four New Assignments

Marcie Williams

Charlotte, NC — RIVERGATE KW RESIDENTIAL, a leading multifamily property management company, has significantly bolstered its portfolio of communities under management in the core markets of South Florida and the Carolinas.

The Place at Dania Apartments, Dania Beach, FL

 RKW was awarded four new assignments totaling nearly 350 units in Boca Raton and Dania Beach, Fla. and Charlotte, N.C.

“In what has been a historic year of growth for our company, we are strengthening our footholds in two of our key markets while simultaneously entering new markets,” said Marcie Williams, president of RKW. “We look forward to continuing our momentum and closing out this incredible year with additional new assignments.”

The Edison Apartments, Charlotte, NC

 In Boca Raton, RKW is set to play an integral role in implementing capital improvements and rebranding the 102-unit community formerly known as Realm Boca Raton. Located at 1150 SW Second Ave., the community will be renamed Crossroads at Downtown Boca in conjunction with the property enhancements.

RKW has also taken over management of The Place at Dania Beach in an increasingly popular Broward County neighborhood that is experiencing tremendous development across all real estate sectors.

Park at Drexel Apartments, Charlotte, NC

Built in 2017, the seven-story, 144-unit Place at Dania Beach is located at 180 E. Dania Beach Blvd. It joins nearby CIRC Residences in Hollywood as signature Broward County communities managed by RKW.

In Charlotte, RKW has expanded an existing relationship with Chaucer Creek Capital through its boutique apartment communities The Edison at 1800 Commonwealth Ave. and Park at Drexel at 4312 Park Road. The communities have a combined 95 units.

  

CONTACT:

Eric Kalis

Account Director, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.rkwresidential.com.

Legacy Village Now Under Construction with Custom Victorian Homes in Quiet Longwood, FL Neighborhood

Marisol Santiago Soderstrom

LONGWOOD, FL ---   Oakwood Construction and Development started construction of Legacy Village , a quiet Longwood , Fla. community in an enticing cluster design featuring just 15 single-family, Victorian style homes with launch prices starting from $265,000 to $285,000.

Marisol Santiago Soderstrom of Orlando-based Stirling International Real Estate, who is representing the property, said the luxury two-story homes with rear entry two-car garages offer classic curb appeal and interiors of uncompromising quality design. 

Rendering of Legacy Villages 15 single-family homes
in Longwood, FL

  “Single-family homebuyers can own a dream home priced under $300,000 and that’s the most difficult price point to find for a spacious new home in Central Florida ,” she explained.

Longwood-based Oakwood Construction recently broke ground on two models – a three-bedroom, two-and-a-half-bath home with 1,712 square feet under A/C; and a four-bedroom home with three-and-a-half baths with 1,996 square feet under A/C.

The Legacy Village home sites located on Sunbranch Lane just east of U.S. 17-92, south of S.R. 434, are surrounded by buffers and green belt.  The traditional neighborhood design that Oakwood has implemented maximizes density and provides for more green spaces and less concrete. 

Rendering of Legacy Village's Site Plan, Longwood, FL

The neighborhood features a central upscale park setting overlooking Lake Irene and the maintenance and home site landscaping is covered by the HOA.  Historic downtown Longwood is only minutes away as well as two major hospitals, restaurants, shopping and conveniences.

The peaceful, serene location is ideal for easy access to major arterial roadways including 17-92, SR 434 and SR 436 and the SunRail station. 

CONTACTS:

Marisol Santiago Soderstrom, Stirling International Real Estate, 407-284-5004, MSoderstrom@StirlingIRE.com

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