Lincoln Property Co.’s The Grand in Tempe, AZ Wins BOMA Building of The Year

The Grand – the first of eight Class A office buildings that LPC is developing at the 60-acre Grand at Papago Park Center mixed-use development in Tempe, AZ

PHOENIX, AZ – Lincoln Property Company (LPC) has won a “The Outstanding Building of the Year” (TOBY) award for its management of The Grand – the first of eight Class A office buildings that LPC is developing at the 60-acre Grand at Papago Park Center mixed-use development in Tempe, Arizona.

The Grand now advances to BOMA’s regional competition, where it will compete against projects across the West and potentially advance to the international BOMA awards.

Afton Trail.

“We developed The Grand as a premium Class A building and this group manages it as such,” said Lincoln Property Company Director of Property Management Afton Trail. 

“They are dedicated to their tenants and to delivering the highest level of building quality. That creates major, every-day advantages for the companies and the people who work here.”

The LPC property management team at The Grand includes Portfolio Manager Julie Cornelius, Property Manager Kelsey Huggins and Chief Engineer James Trezza. This group operates on-site as a full-time designated property management team for The Grand office space.

Julie Cornelius

Presented by the Arizona chapter of the Building Owners and Managers Association (BOMA), the annual Phoenix TOBY awards represent the industry’s most prestigious honor for excellence in building quality and management.

About Lincoln Property Company:

Lincoln Property Company (LPC) is an international full service real estate firm offering real estate investment, development, design/construction management, leasing and property management/ receivership/asset 
management services. 

Kelsey Huggins

LPC has approximately 8,000 employees with an international footprint that includes offices in 45 cities across the U.S. and six cities in Europe and South America.

 Since 1965, LPC has developed more than 128 million square feet of office, industrial and retail projects known for their design, quality and superior locations.

 It currently has more than 403 million square feet of commercial space under leasing and/or management. Lincoln is also one of the nation’s largest apartment developers, having developed more than 209,000 multifamily units and currently managing more than 165,000 multifamily units.

LPC's Desert West Region, which includes Arizona, Nevada, Utah and New Mexico, is based in Phoenix and has been operating since 2001.

Lincoln Logistics 40

 In that time, the regional office has developed almost 6 million square feet, acquired more than 10 million square feet and manages approximately 10 million square feet of commercial space, including major, award-winning and LEED Certified developments and investments.

 In 2019, the company reached new benchmarks, completing two of the highest-priced metro Phoenix office and industrial transactions with the sale of the Waypoint office campus and the sale of Lincoln Logistics 40 to Nike, as well as launching the Union office campus in Mesa, new buildings at The Grand at Papago Park Center in Tempe and the Park303 industrial/e-commerce park in Glendale.

 It is consistently ranked among Phoenix’s top commercial real estate firms for both development and property management, including its latest recognition as the NAIOP Arizona 2018 Owner/Developer of the Year and recent designation as an Arizona Republic Top Companies to Work for in Arizona. 

To learn more about Lincoln Property Company, please visit www.lpc.com or www.lpcphx.com.

MEDIA CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

Regal | Christie’s International Real Estate Reports Banner Year With $248 Million in Sales for 2019

  

The highest priced property sold was a home located on Via Lugano in Winter Park, FL that sold for $6.5 Million

ORLANDO, FL — Regal | Christie’s International Real Estate, specializing in luxury home sales, closed on 534 sales worth more than $248 Million in 2019.

Regal | Christie’s sales in the Dr. Phillips/Windermere area where transactions totaling more than $85 million took place last year accounted for the largest percentage of the firm’s 2019 volume.  

The highest priced property sold was a home located on Via Lugano in Winter Park that sold for $6.5 Million.

The firm plans to exceed more than $300 million in 2020 according to founder and owner Chris Christensen.

Chris Christensen

Christensen said he expects the firm to be very active in 2020, and with good reason. They already have an estimated $134 million in active/pending luxury properties.  “We think some of these exceptional residences will go relatively quick.”

With five Central Florida offices, Regal | Christie’s International Real Estate is the only Christie’s International affiliate in the region. 

The name has been instantly and internationally recognized as synonymous with quality and prestige and with a steadfast commitment to excellence.

CONTACTS:

Patrick Gould, Regional Sales Manager, Regal | Christie’s International Real Estate, 407-770-8470 (call/text) or Patrick@RegalRealtyOrlando.com

    

Chris Christensen, Broker/Owner, Regal | Christie’s International Real Estate, 407-312-8003 or Chris@RegalRealtyOrlando.com

Beth Payan, Larry Vershel Communications Inc.,

 407-644-4142, 407-461-3781 or beth@larryvershel.com  

Levin Johnston Completes $6 million Land Site Sale in Redwood City, CA

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Adam Levin

REDWOOD CITY, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, successfully completed the sale of an approximately one-acre land parcel in the Bay Area submarket of Redwood City, California for future residential development, according to Adam Levin, Executive Managing Director, and Robert Johnston, Senior Managing Director of Levin Johnston.

Levin Johnston represented the seller, Service Corporation International, as well as the buyer, a private investor, in the land sale. The transaction was a rare opportunity for the buyer to acquire a developable site in the heart of Silicon Valley, notes Johnston.

“We were able to strategically arrange a win-win transaction through identifying a buyer who has the expertise to deliver much-needed high-density housing to the market and securing a strong price for the seller,” says Johnston.

“In line with the area’s continuing economic development and employment growth, the buyer plans to develop 37 townhomes at the site.”

Levin notes that job growth in Redwood City is projected to be 37% over the next 10 years, significantly higher than the U.S. average of 33.5%.

Robert Johnston

“Redwood City is growing rapidly and the demand for quality, for-sale housing is at an all-time high and outpacing current supply,” explains Levin.

“The land parcel presents a prime opportunity for residential development, as it is located in close proximity to transportation hubs and major highways and situated in the city’s vibrant downtown area, which offers residents unique retail, entertainment, and dining options.”

The land is located at 847 Woodside Rd in Redwood City, California. The total consideration of the sale was $6 million.

This final sale of the year brought Levin Johnston’s 2019 transaction number to 72, with a total volume of more than $600 million, primarily in California’s Bay Area market.

“Our continued success in identifying prime opportunities to acquire and sell in the highly competitive Bay Area and beyond is a testament to our ability to understand our clients’ wealth management goals, as well as our deep relationships and comprehensive knowledge of the market,” confirms Levin.

  

For more information about Levin Johnston’s $100 million in available properties, please visit www.levinjohnston.com.

Contacts:

Alex Caswell / Elisabeth Manville 

Brower Group

(949) 438-6262

acaswell@brower-group.com

Plaza Advisors Announces Sale of Walden Woods Shopping Center in Plant City, FL

  

                            Walden Woods Shopping Center, Plant City, FL

Jim Michalak

 TAMPA, FL  --  Plaza Advisors is pleased to announce the sale of the Walden Woods Shopping Center located in Plant City, Florida.

The 73,250 square foot plaza is located at the retail epicenter and primary intersection of the Plant City retail trade area. 

Walmart, Publix, Lowes, Marshalls, Michaels, Ross, Winn Dixie, Five Below, Bealls and Ulta each have stores at the intersection.

Walden Woods shopping center major tenants are Dollar Tree, Aaron’s and Dollar General. The asset was fully occupied at the time of sale.

 The property’s inline tenant roster includes several national and regional recognized operators including: Anytime Fitness, T-Mobile, Hibbett Sport’s, Sports Clips, Beef O’Brady’s and Jimmy John’s.

Keith Nurre 

 The seller was Atlanta based RCG Ventures. The Buyer was New York based Redman Partners. 

 Jim Michalak and Keith Nurre of Plaza Advisors represented the seller and were the sole brokers involved in the transaction.

Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the Southeastern United States. 

Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, life insurance companies, REITs, and money center banks. 

CONTACT:

 Jim Michalak

Managing Partner

Plaza Advisors

 3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 1

Fax 831.2627

jim.michalak@plazadvisors.com

www.plazadvisors.com

CBRE Global Investors Lands Trio of New Leases at Iconic 150 North Michigan Tower in Chicago, IL

Sara Spicklemire

CHICAGO, IL ---  CBRE Global Investors announced the signing of three lease agreements at 150 North Michigan, a Class A 41-story office tower known for its iconic diamond-shaped peak, sweeping views of Lake Michigan and Millennium Park, and proximity to leading entertainment and retail destinations.

 The German American Chamber of Commerce of the Midwest (GACC Midwest) will take a full floor at the building, while Insight Global Tech will occupy 11,469-square-feet on the 36th floor.

Kelsey Scheive 

Jackson Lewis, one of Chicagoland’s most prestigious law firms, also inked a long-term renewal for 29,793 square feet on the 24^th and 25^th floors. 

Representing 59,321 square feet of leasing activity, the latest leasing surge comes on the heels of a $7 million repositioning project at 150 North Michigan. 

Recent improvements to the 654,508-square-foot tower include a reimagined lobby with expanded gathering areas, communal seating, contemporary decor inspired by Millennium Park, abundant natural light and a revamped front entrance that engages the surrounding streetscape.

Seth Tuscher

Sara Spicklemire, Kelsey Scheive and Seth Tuscher of CBRE represented CBRE Global Investors in the leasing transactions.

“150 North Michigan enables companies to elevate their business through a dynamic package of incomparable amenities and Chicago’s premier location,” said Mark Zikakis, Principal and Head of U.S. Asset Management at CBRE Global Investors.

Mark Zikakis

“Our significant capital investment to attract and retain top professional talent is producing quantifiable results for tenants, while also sparking renewed interest for tech-equipped workspace in our tower.

"Leasing momentum remains robust as we start a new year, and we’re thrilled to welcome another group of distinguished brands to our growing workplace community.” 

Garin North

“We are entering a new era of the workplace, and A&B is an evolution of our commitment to keeping pace with the workplace trends that matter to today’s tenants,” said Garin North, National Director of the A&B program.

“These recent lease agreements speak to the success of differentiators such as A&B, and further emphasize the need for hospitality-infused workspaces that help tenants to achieve their bottom-line business goals.” 

150 North Michigan office tower, Chicago, IL

150 North Michigan is currently 87% leased, with more than 196,000 square feet in leasing activity occurring since CBRE Global Investors assumed ownership. 

Marquee tenants include Newcastle Limited (18,724 SF), National Public Radio (6,135 SF), C+R Research (17,274 SF) and Impact Networking (18,899 SF).

To learn more about floor plans and available units at 150 North Michigan, please click here. Photos of the property can be found here. For additional information on A&B, click here.

CONTACT:

Aliya Seymour
aseymour@thewilbertgroup.com

www.cbreglobalinvestors.com

NAIOP Florida Announces 2020 Leadership and Legislative Agenda

Darcie Lunsford 

 FORT LAUDERDALE, FL– NAIOP Florida, the state chapter of the Commercial Real Estate Development Association, announces that Butters Realty & Management Executive Vice President Darcie Lunsford will serve as its 2020 Board of Directors president.

During her tenure as South Florida president in 2019, Lunsford helped marshal support for several pieces of legislation on behalf of NAIOP including:

Brian DePotter

• ·         a rollback in the business rent tax from 5.7 percent to 5.5 percent;
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• ·         new permit transparency legislation that requires local governments publicly post permit and inspection fee costs and how that revenue is being applied within government functions;
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• ·         new legislation that prohibits a local government from collecting impact fees before issuance of a building permit except in the case of water and sewer connection; and
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• ·         the passage of several pro-development provisions in a major property development package including
• ---financial relief from governmental requirements that an affordable housing component be included within a new project;
• ---requirements for local jurisdictions to review and respond to development applications within 30 days;
• ---and approval for the prevailing party in a development order challenge to collect attorneys’ fees.

Fitch King 

• With more than 1,000 members, NAIOP Florida consists of five regional chapters throughout the state including South Florida, Central Florida, Tampa Bay, Northeast Florida and Northwest Florida.

In addition to Lunsford, NAIOP Florida 2020 board members include:

·         FirstPointe Advisors Managing Partner Brian DePotter of NAIOP South Florida;

·         Morgar Realty President Fitch King and Driver McAfee Hawthorne Diebenow Partner Trey Wilson of NAIOP Northeast Florida;

·         Central Florida Development President Jeff Lucas and Harrod Properties Partner Graham Mavar of NAIOP Tampa Bay;

·         Catalyst Healthcare Real Estate Vice President Brandon McFarren and SVN Southland Commercial Real Estate Advisor Chris Palmer of NAIOP Northwest Florida;

·         and Prologis Vice President Brendon Dedekind and Colliers International Executive Managing Director Joe Rossi of NAIOP Central Florida.

Jules R. Morgan

NAIOP South Florida Executive Director Jules R. Morgan will serve as executive director of NAIOP Florida.

“In Florida, the commercial real estate sector contributes more than $20 billion to the state economy, generates more than $6.8 billion in wages and salaries and supports more than 161,000 jobs,” Morgan said. 

“These are among the many reasons why NAIOP’s advocacy efforts are so important. Commercial real estate will continue to drive such economic prosperity and growth when we enact strategic reforms that ultimately loosen the chokehold on our industry.” 

For more information about NAIOP Florida and its legislative agenda, please visit https://www.naiop.org/florida.

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Contact:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

naiopsfl.org.