HFF arranges financing on behalf of SteelWave for creative office acquisition and conversion in Tustin, CA

103,000-SF AIRspace Building, 15771 Red Hill, Tustin, CA

SAN DIEGO, CA –  – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged financing on behalf of SteelWave to acquire AIRspace, a 103,000-square-foot, high-identity, creative office asset located in Tustin, California.

HFF placed the acquisition and renovation loan with a bank.  

Olga Walsh

Located at 15771 Red Hill, AIRspace is positioned within the Greater Airport Area submarket in the burgeoning Red Hill Corridor.  

The property benefits from convenient access to the Newport Beach Freeway (SR-55), providing exceptional access to the Santa Ana (Interstate 5) and San Diego (Interstate 405) Freeways.  

Pat Burger

Additionally, AIRspace is close to John Wayne International Airport and positioned in an amenity-rich environment featuring numerous dining establishments, boutique shops and a one million-square-foot retail center. 

Previous ownership recently renovated the project with more than $5 million in major improvements, including new punched-in windows/skylights, new HVAC units, lobby and exterior renovations, landscaping enhancements, a 16,000-square-foot exposed steel-frame structured mezzanine and overhead doors which open to a 3,000-square-foot outdoor amenity area.   

John Marshall

SteelWave intends to further improve the space by expanding the lobby and central corridor to better suit the project for multi-tenant purposes. 

During due diligence, SteelWave signed a 78,000-square-foot lease with Tricon American Homes, one of the fastest growing residential companies in the country.  

Additionally, SteelWave is negotiating leases with a retail tenant for the remainder of the project, which will include a 15,000-square-foot distillery and tasting room and a 3,000-square-foot coffee roaster and café.   

The HFF debt placement team representing the borrower was led by managing director Pat Burger and directors John Marshall and Olga Walsh.

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

CONTACTS:

PAT BURGER

CA Lic. #01820848

HFF Managing Director

(858) 552-7690

pburger@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

HFF closes $118 million sale of Plaza Vista in Kansas City, MO

Plaza Vista Office Tower, 900 West 48^th Street, Kansas City, MO

DENVER, CO –– HFF announces that is has closed the $118.25 million sale of Plaza Vista, a 253,720-square-foot, Class A office tower in Kansas City, Missouri.

HFF represented the seller, which is managed by an affiliate of EverWest Real Estate Investors, and procured the buyer, Platform Ventures.

Completed in 2013, Plaza Vista is LEED certified and offers leading-edge architectural and construction features along with efficient rectangular floorplates, a glass façade, outdoor balconies, a best-in-class conferencing center and board room, a catering kitchen and outdoor terrace, underground parking and a premier fitness facility.  

The 10-story tower is fully leased and is anchored by Polsinelli, one of the nation’s leading law firms.  Retail tenants include Jax Fish House, JJ’s and The Monarch Cocktail Bar and Lounge. 

 Located at 900 West 48^th Street, the Polsinelli Headquarters is positioned in the Country Club Plaza submarket of Kansas City, which has seen tremendous job and population growth as well as infrastructure investment over the past few years. 

Daniel Kaufman

The Country Club Plaza submarket comprises 15 blocks, which include more than 100 high-end shops, 30 restaurants and a wide variety of entertainment venues with more than 20 million visitors nationally.  

Additionally, Plaza Vista is close to the affluent residential neighborhoods of Mission Hills, Sunset Hill and South Plaza that boast average home prices from $645,000 to more than $1.6 million.

The HFF investment advisory team representing the seller included senior managing directors Mark Katz and Danny Kaufman and senior director Peter Merrion.

“Plaza Vista was a rare offering that garnered substantial investor interest,” said Merrion.  “It is a truly unbelievable trophy building anchored by one of the nation’s leading law firms and situated in the heart of the incredibly dynamic Country Club Plaza market.”

Peter Merrion

Holliday GP Corp. ("HFF") is a Missouri licensed real estate broker. 

About EverWest Real Estate Partners 

EverWest Real Estate Partners, LLC, headquartered in Denver, Colorado, is a privately held real estate investment management and operating company, creating significant capital appreciation for investors through strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets.  

For more information, please visit www.everwest.com.

About Platform Ventures

Platform Ventures was formed in 2008 by brothers Ryan and Terry Anderson.  The firm currently has more than $1.4 billion in assets under management.  For more information, please visit: www.platformv.com.

CONTACTS:

MARK KATZ

HFF Senior Managing Director

(303) 515-8000

mkatz@hfflp.com

DANNY KAUFMAN

MO Lic. #2012028715

HFF Senior Managing Director

(312) 528-3650

dkaufman@hfflp.com

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

Newmark Knight Frank Inks 238,437-SF Renewal Lease in Tampa, FL; Deal marks one of the largest industrial leases in Tampa Bay Area over the last 12 months

Rick Narkiewicz 

Tampa, FL  — Newmark Knight Frank lease totaling 238,437 square feet for the Tampa division of ITG Brands, LLC at East Meadow Distribution Center in Tampa, Florida. ITG Brands, LLC will continue to occupy the entire facility, which is owned by UBS Financial Services, Inc.

The deal represents one of the largest industrial leases signed in the Tampa Bay Area over the last 12 months. NKF’s senior managing directors Rick Narkiewicz and John Esposito represented the tenant. Cushman & Wakefield represented the landlord.

“The property’s convenient and secure location were significant factors in the tenant’s decision to maintain operations at East Meadow,” said Esposito.

John Esposito

“A strong local economy and proximity to a talented and diverse employment base bodes well for ITG’s long-term future at East Meadow, which will continue to play an important role in the company’s growing portfolio of business,” said Narkiewicz.

East Meadow is within a six-minute drive of major Central Florida thoroughfares such as I-75, I-4 and Selmon Expressway. The facility also enjoys close proximity to the Port of Tampa and Port Manatee.

ITG Brands, LLC is the third largest tobacco company in the United States. The company is headquartered in Greensboro, North Carolina and offers a broad array of well-known cigarette and cigar brands, including Winston, Maverick, Kool, USA Gold, Salem and Dutch Masters.

East Meadow Distribution Center
Tampa, FL

CONTACT:

Liz Maddux · Assistant Account Executive

1718 Peachtree St., Suite 1048 · Atlanta, GA 30309

M: 478-972-3210

www.thewilbertgroup.com