StimULI Webinar May 14 to Explore Solutions for Landlords and Tenants

Drew Gorman Sr.

ORLANDO, FL --- Local real estate advisor, speaker and author John Crossman, CCIM, CRX will moderate the StimULI Webinar, an in-depth discussion about Covid-19’s impact on commercial/retail real estate hosted by the Urban Land Institute (ULI) Thursday May 14 at 8 a.m.  

Crossman, retired CEO of Crossman & Company, is the author of “Career Killers, Career Builders,” which is based on his speeches at colleges and universities. 

As one of Orlando ’s most influential business leaders, he will lead an hour-long panel about key issues now facing landlords and tenants.    

David Harvey

Learn about the issues and solutions that top landlords and owners are pursuing in the wake of the abrupt revenue declines tenants are facing and the resulting impact to landlords’ cash flows.

Crossman will lead a virtual panel that includes Trey McPerson, Vice President, RD Keene Trust; David Harvey President, Fairbourne Properties, LLC; Drew Gorman, Sr. Vice President of Acquisitions & Development at Echo Realty; and George Fryer, Jr., Director AEW Capital Management, L.P.

John Crossman

The public is invited to the StimULI webinar.  Registration is $15 for Non-members of ULI and $10 for members.  

To register now go to https://centralflorida.uli.org/events/ click on “webinar” then click “Register.”

CONTACTS:

John Crossman, CCIM, CRX

 407-341-3895 
jcrossman@crossmancb.com  

Beth Payan, Larry Vershel Communications Inc.

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

HSA Commercial Real Estate Completes 20,439 SF Lease with American Residential Services at Gateway Business Park in Indianapolis

Christine Muszynski 

CHICAGO, IL and INDIANAPOLIS, IN  — HSA Commercial Real Estate, a Chicago-based full-service real estate firm,  announced the firm has signed a 20,439-square-foot lease with American Residential Services (“ARS”) at 853 Columbia Road in Plainfield, Ind.

ARS, a Memphis-based network of commercial and residential plumbing and HVAC businesses, is scheduled to move into the fully leased building in September. 

 The 104,400-square-foot building was developed in 2004 as the first phase of HSA Commercial Real Estate’s 55-acre Gateway Business Park, near the Indianapolis International Airport.

 Robert Smietana

With the explosive growth in e-commerce and logistics in Indianapolis, HSA Commercial has continued to expand Gateway Business Park, developing six buildings totaling approximately 900,000 square feet.

 Most recently, HSA Commercial completed construction of the 262,758-square-foot Gateway V distribution center, where the firm signed long-term leases with transplant solutions provider LifeNet and Paris-based aerospace firm Safran Nacelles in 2019.

Terry Busch

“As we continue to grow and develop new state-of-the-art warehouses, we are pleased to see ARS find a home in our very first building at the Gateway Business Park campus,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. 

“With the existing buildings in the park at full occupancy, it gives us even more confidence to press ahead with our development plans going forward.”

 Jared Scaringe

Gateway V distribution center,
Plainfield, IN

Terry Busch and Jared Scaringe of CBRE and Christine Muszynski of HSA Commercial represented ownership in the lease transaction.

CONTACTS:

Rebecca Boykin
rboykin@taylorjohnson.com 
(312) 267-4523

Abe Tekippe
atekippe@taylorjohnson.com
 (312) 267-4528

Stos Partners Acquires 113,500-SF Industrial and Cold Storage Asset in San Marcos, CA for $18.9 Million

CJ Stos

SAN MARCOS, CA – Stos Partners, a privately held commercial real estate investment and management firm has acquired an 113,500 square-foot industrial and cold storage asset in the San Marcos submarket of San Diego, California in an off-market transaction. 

The property was acquired from a private investor for $18.9 million.

“This was a rare opportunity to acquire an institutional-quality industrial and cold storage property with strong value potential in a logistics epicenter for Southern California,” says CJ Stos, Principal of Stos Partners.

 “San Marcos is strategically positioned with easy access to north and south San Diego, as well as the rest of the Inland Empire.”

Stos Partners will implement a series of renovations and capital improvements to the property, which is currently vacant, to strategically position the asset to attract a variety of last mile distribution tenants.

        

Jason Richards

           “Over the last several years, there has been a rapid increase in the need for last mile distribution facilities near urban centers in order to increase delivery times,” explains Stos.

           “This demand has become even more evident in the current environment, which will drive long-term demand for the property over time.

         "In fact, this is our third cold storage acquisition in the last 12 months and one of the reasons we moved very quickly on the deal and came in with an all cash offer.”

            According to Jason Richards, a Partner at Stos Partners there is a lack of comparable product in the market.

The property also features key components that will be attractive to high-quality tenants and contribute to the property’s long-term value including 20’ to 27’ clear heights, 7.19 acres of truck storage, UPS docks, and an onsite maintenance building, in addition to the cold storage component.

          

Bob Willingham 

  “This property has great bones and with the right capital improvements is an excellent addition to our existing portfolio in San Diego,” says Richards.

“We plan to implement a variety of improvements including upgrades to the landscaping, repaving the parking lot, updating the roof, new paint and addressing deferred maintenance.”

            Richards adds, “By implementing these upgrades, we will be able to quickly lease the vacant space and bring rents up to market value.”

The property is located at 505 S. Pacific Street in San Marcos, California. Bob Willingham of Kidder Matthews represented Stos Partners as the buyer in this acquisition.

Contacts:

Lisa James / Lexi Astfalk

Brower Group 

(949) 955-7940 

ljames@brower-group.com 

The Habitat Company and P3 Markets Clears First Round of Financing for TOD, Mixed-Use Development in Chicago’s Grand Boulevard Neighborhood

  

Matt Fiascone

CHICAGO, IL  (April 21, 2020) – Chicago-based The Habitat Company, a leading U.S. multifamily developer and property manager, today announced the firm cleared a key hurdle in financing the first phase of 43 Green, a $35M mixed-income, mixed-use transit-oriented development (TOD) in Chicago’s Grand Boulevard neighborhood.

 Habitat will develop the project in partnership with Bronzeville-based P3 Markets, a real estate development firm dedicated to public-private partnerships.

“Grand Boulevard is one of Chicago’s great historic neighborhoods and we’re confident that this transit-oriented community will appeal across multiple income levels,” said Matt Fiascone, president, The Habitat Company.

“While most of the recent development in the community has focused on single-family lots or multifamily projects concentrated north of this area, we are all optimistic that 43 Green will serve to drive new investment in the neighborhood and lead to long-term economic growth.”

 Phillip L. Beckham

“43 Green is an exciting project – not just for the neighborhood, but also for our team as it embodies our ongoing efforts to affect change in the communities that need it most,” said Phillip L. Beckham, principal, P3 Markets.

“This project also allows us – and future residents – to benefit from working with an exceptional partner like Habitat, which has a strong track record of developing successful mixed-income projects. 

"We look forward to revitalizing Grand Boulevard together as 43 Green becomes a reality.”

CONTACTS: 

Robin Plous, rplous@taylorjohnson.com, (312) 267-4512

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

  

www.habitat.com

www.p3markets.com