Seefried and Clarion Partners Claim 150 Acres; Begin Phase 1 of Commerce Center in N. Las Vegas, NV (Clark County)

Planned Silver State Commerce Center to be located off Alexander Road and North 5^th Street in North Las Vegas, NV

 Las Vegas, NV - Seefried Industrial Properties and Clarion Partners, LLC have acquired a 150-acre land site that paves the way for Silver State Commerce Center, a multi-phase distribution complex that when complete, will incorporate approximately 2,588,801 square feet of office and warehouse space. 

Located off Alexander Road and North 5^th Street, the first phase of development will include buildings consisting of 367,600 square feet, 291,564 square feet and 174,615 square feet, respectively. 

Scott Irwin

The buildings will feature tilt-up construction, have clear heights ranging between 32 and 36 feet, 205 trailer spaces combined, an ESFR sprinkler system and ample parking.  

 “We are pleased to have closed on one of the largest remaining developable sites in the City of North Las Vegas," says Scott Irwin, SVP for Seefried.  

 "The site has excellent access and infrastructure, and coupled with its close proximity to downtown Las Vegas, we are very optimistic about the long-term success of the project. 

"The Las Vegas market continues to experience strong user demand and net absorption; we expect this trend to continue for the foreseeable future' 

"This is Seefried’s first acquisition in the Las Vegas market and we plan to grow our presence in this market.” 

Robert Jacob Architect will be the architect and Taney Engineering will be the civil engineer for the first phase of this project.   

Phase 1 of 3 for Silver State Commerce Center is scheduled for shell completion during the third quarter of 2020.   

Ferdinand Seefried

About Seefried Properties: 

Seefried Properties was founded in 1984 by Ferdinand Seefried and is still 100 percent privately owned today.  The firm focuses on industrial development in core markets and build-to-suits with corporate tenants and users in first and second-tier markets. 

Seefried's development, construction, leasing, property management and accounting teams firmly believe that client relationships are solidly built on trust and further developed by each individual experience. 

Seefried is based in Atlanta, with regional offices in Los Angeles, Dallas/Fort Worth, Chicago and Phoenix.  Seefried Properties has built over $6 Billion in development volume in 25+ markets across the U.S. 

  CONTACTS:

Scott Irwin 

Senior Vice President – Southern California 

Seefried Industrial Properties 

ScottIrwin@SeefriedProperties.com 

+1 562 484 8761 

www.clarionpartners.com

www.seefriedproperties.com  

  

Barb Bennett

Marketing Coordinator

Seefried Industrial Properties, Inc.

3333 Riverwood Parkway SE, Suite 200

Atlanta, Georgia 30339

Office:    (770) 702-8207

Mobile:  (520) 661-9641

E-mail: bbennett@seefriedproperties.com

Next Wave Investors Increases Investment in the West; Acquires 380 Multifamily Units in Phoenix, Salt Lake City and Las Vegas

96-Unit La Estrella Vista Apartments, Phoenix, AZ

Phoenix, AZ  – Next Wave Investors, LLC (“Next Wave”), a private equity firm focused on value-add multifamily investments through subsidiary investment vehicles, has deepened its investment in the Western US with the acquisition of 380 multifamily units spanning four apartment communities, including 96-unit La Estrella Vista and 149 of the 160-unit Westover Parc in Phoenix, Arizona; 72-unit Bella Vida in Las Vegas, Nevada; and 63-unit Townhomes at Mountain Ridge in Salt Lake City, Utah.

 

160-Unit Westover Park Apartments, Phoenix, AZ

Jordan Fisher, Principal at Next Wave, stated, “With these acquisitions, we are expanding our investment in the three most active growth states in the nation.

 "Utah and Nevada recently tied as the #1 states for job growth in the US, while Arizona’s job growth is 2^nd in the nation, led by growing industries such as tech, bioscience, manufacturing, and healthcare.

72-Unit Bella Vida Apartments, Las Vegas, NV

"By deepening our footprint in these key markets, we are able to execute on our proven investment strategy and create significant value for our investors.”

Jordan Fisher

 Next Wave plans to implement capital upgrades at each property, including significant exterior and interior renovations at all properties except Bella Vida, which will undergo only interior unit renovations.

“Each of these acquisitions represents the clear focus of our investment strategy, through which we identify and acquire under-appreciated multifamily properties and execute on a proven strategy to improve each asset,” says David Sloan, Principal at Next Wave. 

David Sloan

Mr. Sloan added, “While we remain cautiously optimistic about the markets in which we invest, we believe our value-add proposition coupled with our market experience delivers with an edge compared to other similarly situated investment groups.

"We look forward to further enhancing our market share in the Western US in the years ahead.”       

Contact:

Katie Haga / Jenn Quader

Brower Group

(949) 438 6262

khaga@brower-group.com 

www.nextwaveinvestors.com

Greater Cincinnati Crunch Fitness Location for sale at $4 million in Florence, KY

Greater Cincinnati Crunch Fitness 
 77 Spiral Drive, Florence, KY 

CHICAGO, IL  -- B+E, the first brokerage and technology platform for net lease real estate, announced the listing of the Greater Cincinnati Crunch Fitness property located at 77 Spiral Drive, Florence, KY 41042 for $4,000,000.

The NNN building is approximately 20,916 SF on +/- 2.04 acres of land, includes +/- 128 parking spaces and carries a cap rate of 7.25%.

“This location is right next-door to the new $1.5 billion Amazon HUB airport which is bringing around 2,700 jobs to the area,” said Spencer Henderson with B+E.  

Spencer Henderson

“In July 2019, the CEO of Crunch said his team plans to double the size the Crunch Fitness Brand over the next three to five years.”

For more information, please contact Spencer Henderson at Shenderson@benetlease.com or go to www.benetlease.com.

 

About B+E

B+E is a modern investment brokerage firm, specializing in net lease real estate. 

The firm helps clients buy and sell single tenant real estate. Founded by deeply experienced brokers, B+E redefines trading through an intuitive end-to-end transaction platform comprising of user-friendly dashboards and an AI-driven exchange — all leveraging the largest data set in the net lease industry.

CONTACT:

John Vita

John Steven Vita Communications

John.vita@jsvcom.com

847/853-8283

KBS Signs More Than 100,000 Square Feet in Leases at Woodbridge Corporate Plaza In Less Than Six Months in Iselin, NJ

Woodbridge Corporate Plaza is a 629,000 square-foot, six-building, Class A office park located in the Central New Jersey submarket of Metropark.

  

ISELIN, NJ – KBS, one of the largest owners of premier commercial real estate in the nation,  announced the signing of 103,396 square feet in leases at Woodbridge Corporate Plaza in Iselin, New Jersey within the last six months. 

Thirteen companies signed new, renewal or expansion leases at the 629,000 square-foot, six-building, Class A office park located in the Central New Jersey submarket of Metropark.

Of these 13 leases, six were new leases, four were renewals and  three were expansions, according to Stephen Close, senior vice president for KBS and asset manager of the property.

Stephen Close

“This rapid leasing activity is demonstrative of the quality product we are able to provide our tenants as hands-on asset managers,” says Close. 

“We are attracting new tenants, and maybe more importantly, many of our existing tenants are renewing and expanding within our buildings.

"These companies have experienced first-hand the types of amenities the property features and caliber of service we offer and are actively choosing to grow within this award-winning property.”

The NKF team representing KBS in the leases included Jamie Drummond and Andrew Perrotti.

Woodbridge Corporate Plaza won The Outstanding Building of the Year (TOBY) Award in the Renovated Building category last year.

Jamie Drummond

The property features a cafe, on-site management, a fitness center with showers and locker rooms, dry cleaning pick-up and drop-off, and a shuttle service to surrounding local amenities such as nearby dining, a farmer’s market and a 24-hour grocery store.

“As one of the largest owners of office properties across the nation, we truly understand what today’s tenants demand, and we are able to meet those demands consistently within our assets,” says Close.

 “Woodbridge Corporate Plaza is a prime example of this success, and will continue to be a cornerstone asset in the Metropark market.

The property will continue to benefit from the region’s ongoing growth and migration of Fortune 500 and 1,000 companies.”

iCreditWorks, a dental loan provider and C.H. Robinson, a leader in freight solutions, are two of the six new companies to relocate to the building. Other new companies at the property include Vlasac & Shumark, Acrisure, Apex, and Hackensack Meridian.

Andrew Perrotti

“Metropark has historically proven itself to be a market that performs extremely well over time,” says Marc DeLuca, regional president, Eastern United States, for KBS. 

“We initially acquired the property in 1996, sold the asset in 1998, and reacquired the property in 2005. These strategic trades are based on the continued strength of this submarket, which continues to demonstrate fundamentals that make Woodbridge Corporate Plaza a valuable asset over the long-term. 

"The Metropark area continues to experience solid population growth, and is located in the heart of Middlesex County, the second most populous county in the state.”

  

TDK Lambda Americas, a leading manufacturer of high power programmable power supplies; Auto Injury Solutions, a  leading provider of casualty claims solutions; and Bank of Tokyo-Mitsubishi, the largest bank in Japan, renewed their leases. Other renewals include MCI Metro, Multimedia Heathcare Comm, Lincoln Investment Planning, and Cipriani & Werner.

Marc DeLuca

“Central New Jersey is a diverse economy that is experiencing meaningful growth and is not dominated by a single industry,” says DeLuca.

“Woodbridge Corporate Plaza boasts a strong tenant mix across multiple industries including manufacturing, auto, financial services, and healthcare, among others.”

  

“We are excited to welcome the new tenants and help our current tenants grow their footprints within this innovative campus environment,” says Drummond, NKF senior managing director. “Metropark is an exceptionally strong market with ongoing job growth, which is a prominent factor in attracting quality tenants.”

Woodbridge Corporate Plaza is easily accessible for commuters with three interstate highways and two highly traveled business routes nearby, including US-1. It is also in close proximity to Newark Airport and the Metro Park train station, allowing access to both New Jersey Transit and Amtrak routes.

CONTACTS:

Micaela Fehrenbach 
mfehrenbach@brower-group.com

www.kbs.com