Tenant demand brings renovated Lincoln Medical Plaza in Paradise Valley, AZ to 100% occupancy

 Mari Lederman 

  

PARADISE VALLEY, AZ – Medical office experts in JLL's Phoenix office have completed 21,275 square feet in new leases at the Class A Lincoln Medical Plaza, located at the southwest corner of Scottsdale Road and Lincoln Drive, within the Lincoln Plaza Retail Center in Paradise Valley, Arizona.

The newly renovated building is now 100 percent leased, with the addition of Clear Dermatology and a full second-floor lease to Paradise Valley Multi-Specialty Surgery Center.

Katie McIntyre 

JLL Vice Presidents Mari Lederman and Katie McIntyre represented the building owner, Jamel Greenway LLC, as well as Clear Dermatology in the lease negotiations.

Four years ago, building owner James Shough and architect Dean Munkachy of Suite 6 renovated Lincoln Plaza Retail Center. They have now extended that vision to Lincoln Medical Plaza.

Marwam Tamimi 

“They removed the overgrown landscape and re-established Lincoln Medical Plaza with the high-end, Class A design required by modern medical users," said Lederman.

 "It is a hidden gem that has been brought back to the quality and visibility it deserves. That combination quickly gained tenant interest in an exclusive area of Paradise Valley where there is very limited medical office space.”

Located at 7125 East Lincoln Drive, Lincoln Medical Plaza
 totals 27,868 square feet with two,
 6,143-square-foot, first-floor medical offices.

Located at 7125 E. Lincoln Drive, Lincoln Medical Plaza totals 27,868 square feet with two, 6,143-square-foot, first-floor medical offices leased to Clear Dermatology and Benessair Health, and a 15,582-square-foot, full second-floor lease to Paradise Valley Multi-Specialty Surgery Center.

To create a contiguous second floor, architect Marwam Tamimi of Surgery Center Services enclosed a common area lobby and incorporated modern infrastructure, connectivity and air handling required for a fully licensed surgery center. This space will be supported by a gurney-size elevator, to be installed during tenant improvements.

Dean Munkachy 

“Surgery centers are complex to design, but by opting to strategically renovate instead of tearing down and rebuilding, this property owner was able to bring modern amenities back into Lincoln Medical Plaza while still keeping it affordable for future tenants,” said Lederman.

“We were fortunate to work with an owner who has the creative vision – and an architect with the industry expertise – to bring this project to fruition.”

Lincoln Medical Plaza sits within the high-demographic, amenity-rich Paradise Valley market. It is adjacent to two grocery stores (AJs and Trader Joe’s), across the street from the future Ritz Carlton Paradise Valley, and is walkable to more than a dozen other retail, restaurant and service providers.

CONTACT:

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

DAUM Brokers 52,800-SF Self-Storage Lease in Thousand Oaks, CA

DAUM Commercial Real Estate Services recently completed the lease of a 52,800 square-foot industrial facility
 at 1467 Lawrence Drive in Thousand Oaks, CA

Thousand Oaks, CA – DAUM Commercial Real Estate Services recently completed the lease of a 52,800 square-foot industrial facility at 1467 Lawrence Drive in Thousand Oaks, California, on behalf of the lessee, Westlake Storage Solutions.

The tenant, a self-storage and moving facility, is relocating its operations from nearby Westlake Village.  Bram White, SIOR, an executive vice president in DAUM’s Ventura County office, represented the lessee in the transaction.

Bram White

“This transaction represents the strength of both the local industrial market and the national self-storage sector,” says Bram. “As the COVID-19 pandemic continues, industrial product has emerged as a stable asset class benefitting from rising demand.

"Self-storage in particular continues to grow in popularity, with strong fundamentals including 95% rent collections nationally, as well as increasing demand driven by life changes, which have been plentiful due to the pandemic.”

White notes that DAUM was able to leverage these key drivers to position its client as the right tenant for this space.

“DAUM is known for our strong, long-term client relationships,” says Bram. “We represented this tenant when the company leased its Westlake Village location eight years ago. 

"By working closely with Westlake Storage and keeping our finger on the pulse of the Ventura County industrial market, we were able to identify this property as the ideal solution for the next phase of lessee’s operations.”

Patrick DuRoss

The new lease commences on August 1, 2020. Westlake Storage Solutions was granted early possession upon lease execution, allowing them to begin their move-in process in July.

James Panzetta, President of Westlake Storage Solutions says, “We are a one-stop facility offering self-storage, packaging materials, U-Haul vehicle rentals and U-Haul “U-Box” storage, all in a single location.”

With close proximity to highway 101, the property offers convenient access for Westlake Storage Solution’s customers. 

Patrick DuRoss, SIOR of Newmark Knight Frank represented the lessor, PSIP Conejo Spectrum L.P. in this transaction.

CONTACTS:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

www.daumcommercial.com.

BLT Bolsters Southern California Portfolio with Three Industrial Assets Totaling More Than 191,700 SF

CARLSBAD, IRVINE, and LOS ANGELES, CA – BLT Enterprises, a multi-faceted real estate investment company based in Santa Monica, California, recently acquired three industrial assets in Southern California totaling more than 191,700 square feet.

The properties are located in the San Diego County submarket of Carlsbad, the Orange County submarket of Irvine, and the Los Angeles County submarket of West LA, according to Bernard Huberman, Founder and President of BLT Enterprises.

“Even through these uncertain times, we’ve continued to seek opportunities to acquire properties in California markets with long-term demand drivers in place,” explains Huberman.

 “While located in different regions of Southern California, these three new additions to our portfolio are all well aligned with our proven strategy of acquiring quality industrial properties in excellent, accessible locations near major transportation hubs.”

The property was acquired for $3.18 million and is located at 2222 Cotner Avenue in Los Angeles, California.

Mike Meraz

Mike Meraz of Magnum Properties represented the buyer and Henry Danpour of Silver Platinum Realty represented the seller.

The three acquisitions include:

Brand New Industrial Life Science Asset Added to San Diego County Portfolio

BLT Enterprises has purchased a newly constructed industrial life science property totaling more than 146,100 square feet in the North San Diego County submarket of Carlsbad, California.

The asset, which was acquired for $40.45 million, is fully leased to SAFC Carlsbad, Inc. The tenant is a subsidiary of Merck KGaA, a multinational pharmaceutical, life sciences, and research and development company headquartered in Darmstadt, Germany.

“This was an incredibly rare opportunity to acquire a new state-of-the-art building, conceptualized as an industrial lifestyle campus, with an investment grade tenant in place,” explains Huberman.

 “The purchase of this asset, located in the most active submarket of the world’s third-largest life sciences hub, is also in line with our strategy to acquire properties in booming areas with long-term growth outlooks.”

Bernard Huberman

The property, which was completed in 2019, features a sleek architectural façade, glass roll-up and clamshell windows, a covered gazebo bridge leading to the main lobby, walking paths, a sun deck, a bocce ball court, a BBQ, and several gathering areas.

Facility amenities also include 30’ clear height, eight dock-high doors, four grade-level doors, 4,000 amps of power, Grade B, C, D classification clean rooms, a dedicated lab exhaust system, a vacuum pump system, and a PH neutralization system.

The property is located at 2827 Whiptail Loop West in Carlsbad, California. Aric Starck of Cushman & Wakefield represented both the buyer and the seller, RPG, in this transaction.

Sale-Leaseback Investment in Orange County

BLT Enterprises has acquired a 40,645 square-foot industrial building situated on 1.9 acres of land in the Orange County submarket of Irvine, California.

The building was acquired from the current tenant, Ceradyne, Inc., a ceramic manufacturer and subsidiary of 3M, in a sale-leaseback transaction, according to Huberman.

“We were attracted to this asset based on its exceptional location in Orange County’s Greater Airport Area, which has consistently seen high demand,” says Huberman, pointing to a recent CBRE report that highlighted a tight 2-percent vacancy rate for the submarket.

 “The opportunity to lease the property back to the seller allows for immediate cashflow as we strategically decide next steps in our ownership.”

Brad McCoy

The building is located adjacent to the 55 Freeway and MacArthur Boulevard, allowing for ease of access throughout the region. The well-maintained condition of the property, which was originally constructed in 1969, further adds to its appeal, notes Huberman.

The property, located at 17466 Daimler Street in Irvine, California, was purchased for a total consideration $8.9 million. 

Brad McCoy and Westin Dunlap of Lee West LA represented the buyer in the acquisition and Cresa Phoenix represented the seller in the transaction.

Creative Light Industrial Conversion Planned for Los Angeles Asset

BLT Enterprises has also acquired a 5,000 square-foot industrial building in West Los Angeles, California.

The firm plans to execute its proven creative light industrial conversion strategy on the vacant property, notes Huberman.

“This asset is an excellent addition to our existing portfolio of creative properties located near West LA’s major transportation corridors,” says Huberman.

Westin Dunlap

 “We plan to implement state-of-the-art upgrades similar to what was executed during our hold of a nearby asset, 1941 Pontius Avenue.

"By completing quality renovations and taking a strategic approach to this rebuild, we anticipate delivering an attractive offering to potential tenants who looking for a new construction feel in an in-demand office submarket.”

Huberman adds that the property also offers unmatched immediate access to Interstate 405, furthering its appeal.

  

CONTACTS:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

www.daumcommercial.com. 

DAUM Commercial Directs Acquisition of New Industrial Buildings in Greater Phoenix, AZ Area

 Two brand new freestanding industrial buildings totaling nearly 36,500 SF in the greater Phoenix submarket of Goodyear, AZ

 

 GOODYEAR, AZ – DAUM Commercial Real Estate Services recently directed the acquisition of two brand new freestanding industrial buildings totaling nearly 36,500 square feet in the greater Phoenix submarket of Goodyear, Arizona.

The assets are part of the Palm Valley Crossing development, which was delivered earlier this year by Hopewell Development, according to Trevor McKendry and Chris Rogers, both Executive Vice Presidents based out of DAUM’s Phoenix office.

 McKendry and Rogers represented the buyer, a private investor, in this transaction.

Trevor McKendry

“Even in the midst of the pandemic, investor demand and competition for quality industrial product in the Phoenix area remain high,” says McKendry.

 “Based on our close relationships and knowledge of what is happening in the local market, we’ve been able to secure prime assets, like these state-of-the-art buildings, for our clients.”

According to Rogers, the buildings are currently available for lease and are well positioned to attract tenants looking to expand into the greater Phoenix area.

“Less than 20 miles from the heart of Phoenix, Goodyear is an up-and-coming area where several Fortune 500 companies, including Amazon, Dick’s Sporting Goods, Microsoft, Nike, and UPS, have a presence,” says Rogers.

 “Even in these ever-changing times, investment in this growing submarket remains attractive. Tenants continue to seek out high quality industrial space offering convenient access to Interstate 10 and other major thoroughfares in the region, at a slightly lower price point than Phoenix proper.”

Chris Rogers

One of the fastest growing cities in the nation, Goodyear was recently ranked among the “Best Places to Live in America” by Money magazine, and has a 95% satisfaction rate among its citizens, notes McKendry.

Goodyear also offers incentives for premiere business looking to locate in the city and includes tax benefits from Foreign Trade Zones, Military Reuse Zones, Opportunity Zones and designated redevelopment areas.

The two properties include both warehouse and office space, and feature truckwells and grade level doors, PAD Zoning, fenced yards and 20’-8” clear height.

The buildings are located at 137^th Avenue and Autodrive in Goodyear, Arizona and were purchased for a total consideration of $4.96 million.

Rogers and McKendry also recently completed two transactions in Phoenix for a total of $4.7 million: the sale-leaseback of the building located at 23306 N. 15^th Avenue in Phoenix, Arizona and the lease of 1650 W. Parkside Lane in Phoenix, Arizona.

CONTACTS:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

www.daumcommercial.com. 

New Experiential Office Buildings Like CASA Continue to Lease in Phoenix's Uptown Neighborhood

Curt Kremer

PHOENIX, AZ – While a COVID-stricken economy has halted many large metro Phoenix leases, mid-size deals continue to make a significant impact at experiential projects like CASA, George Oliver's Class A creative office redevelopment in Phoenix’s popular Uptown neighborhood.

 In the span of a few months, the 181,000-square-foot development has signed more than 20,000 square feet in new office leases and is in the process of delivering its next phase of move-in-ready speculative office suites, with two of those suites pre-leased prior to completion.

 Ryan Timpani

 Together the activity brings CASA, which delivered in December, to 75 percent leased.

 Companies moving to CASA come from a wide range of submarkets, indicating that the building’s new tenants are breaking down local barriers and looking outside of traditional or preferred geographical locations to find this unique type of product.

 “Metro Phoenix is clearly still in flux and adjusting to COVID, but CASA has remained very active on the leasing front and is approaching a fully occupied scenario with companies coming from all over – from downtown and midtown, North Scottsdale and Paradise Valley,” said Curt Kremer, Founder and Managing Partner of Phoenix-based George Oliver.

 “Office users continue to crave well-amenitized office communities and they are willing to consider a move outside of their submarket to find it.”

Nick Bialkowski

 The newest leases at CASA include:

• ·       Bay Equity, leasing 4,582 square feet
• ·       Coterie Advisors, leasing 4,234 square feet
• ·       Jack Capital, leasing 4,041 square feet
• ·       Canyon Home Care, leasing 2,910 square feet
• ·       American Energy Group, leasing 2,249 square feet
• ·       Forrest Logistics, leasing 2,130 square feet 

Jack Capital, Canyon Home Care and American Energy Group now occupy their space at CASA. The remaining tenants will move in during the third quarter, joining existing tenants Rockwell Automation, 

The Money Store, Olsson, Phoenix Association of Realtors, North & Co. and local favorite Kaleidoscope Juice, which operates an on-site café and lounge serving organic food, coffee and juice.

 One 4,618-square-foot spec suite remains available at CASA.

Two more spec suites, totaling 6,002 square feet and 5,001 square feet, are delivering in September.

They will include fully furnished options and forward-thinking design features like spacious work areas with access to natural light, glass-front private offices, exposed ceilings in open workspace areas, conference rooms with decorative lighting fixtures and soundproofing, and modern finishes throughout the space.

CASA also has four co-working suites available for immediate move-in. All co-working suites are fully furnished with access to shared conference rooms and breakrooms, a private coworking lounge, high speed internet access, and a full-time concierge.

 “CASA’s amenity package accelerates a company’s ability to recruit and retain talent,” said JLL Managing Director Ryan Timpani, who serves as the project’s exclusive leasing broker along with JLL Senior Associate Nick Bialkowski.

“From the start, that advantage has been a driving factor in tenant decisions to relocate to CASA from locations across the Valley.”

Of the 10 leases signed at CASA since its renovation, Timpani notes that nine are from out of the project’s submarket.

 Located off of the Piestewa Freeway/State Route 51 and Northern Avenue, at 7878 N. 16^th Street, CASA mixes modern Spanish architecture with lifestyle amenities designed around health and wellness.

 Some of these amenities include a 60-guest conference center, library and wellness center with a yoga room, fitness center and an on-site meditation room.

Two centralized courtyards with water features serve as hubs for relaxation and collaboration. CASA also includes a dog park and a two-story dining experience with dedicated food truck parking, shaded outdoor dining and outdoor game and lounge areas.

 George Oliver purchased the CASA building, previously known as Catalina Terraces, in December 2018.

CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

www.uptowncasa.com.

 www.georgeoliver.com.

Starboard Commercial Real Estate Announces New Joint Venture with Brookwood Group; Hires Barry Bram as Executive Director

Barry Bram

SAN FRANCISCO, CA, July 17, 2020 – Starboard Commercial Real Estate and Brookwood Group Inc. announced today the launch of a new joint venture Brookwood Starboard, a full-service real estate firm of strategic advisors, brokers and developers.

 Industry veteran and longtime bay rea broker, Barry Bram, has been hired as Executive Director. 

With over 30 years of experience in commercial real estate, Bram is continuously recognized as a top producer in the industry and represents high-caliber clients in their leasing and investment transactions. 

Shepherd Heery

“We are extremely pleased to have Barry at the helm of Brookwood Starboard,” said Shepherd Heery, co-founding partner of Brookwood Starboard and Chairman, CEO of Brookwood Group, Inc.  

“Barry brings a client-focused analytical framework to this leadership position.  He skillfully applies these strong attributes to advance and protect the interests of clients.

"Together with our colleagues at Brookwood Starboard, Barry possesses and deploys local market knowledge in a manner that is second to none.”

“After many years in local brokerage, I am excited to lead this joint venture at Brookwood Starboard, bringing to our clients a broadened scope of expertise and experience, ranging from predevelopment and planning through entitlement and construction," says Bram.

 George Heery Sr.

"This, combined with our existing full range of leasing and investment brokerage, will yield rewarding results for clients who constantly look for opportunities, advisory services and transactional success.” 

About Brookwood Group

Brookwood Group, Inc. is a national real estate development, strategic planning and management consulting firm that was founded in San Francisco in 1989 by siblings, Laura and Shepherd Heery, together with their father, George Heery.  

The company continues to be headquartered in San Francisco and also has offices in Atlanta, Palm Beach and Seattle.  On the West Coast, the firm’s senior principals are Alan Katz, James Mueller and Shepherd Heery.

Laura Heery

About Starboard Commercial Real Estate

Starboard became the San Francisco member of TCN Worldwide Real Estate, a national affiliation of independent real estate firms located in more than 200 markets with 62 offices in 8 countries, including North and South America, Europe, and Asia. 

Using national and international real estate expertise, Starboard provides clients with local know-how on a global scale.

Starboard Commercial Real Estate is the largest independently owned commercial real estate firm in San Francisco, California. Starboard was established in 1991 with a

unique vision of what a commercial real estate firm should be.

Alan Katz

 With a combined total of 55 years representing landlords and tenants, members of the firm are devoted to serving clients with the highest ethics and professionalism. 

By implementing the latest technology, Starboard combines innovative market techniques with hard work, pursuing every opportunity to meet its clients’ commercial property goals. 

Our brokers are highly qualified professionals supported by skilled support staff and a full-service in-house graphic and website design team. 

CONTACT:

Natalie Wolfrom 

PR for Starboard Commercial Real Estate 

415-609-7092 

nwolfrom415@gmail.com

BrookwoodStarboard.com

www.brookwoodgroup.com.  

www.starboardnet.com.