Wednesday, August 19, 2020

Merit Partners Announces $1.5 billion Global Logistics Park in Glendale, AZ


Anthony Lydon
GLENDALE, AZ – Camelback 303 – a $1.5 billion global logistics park being developed in joint venture by Merit Partners, First Industrial Realty Trust Inc. and Diamond Realty Investments in Glendale, Arizona – will soon begin to take shape in metro Phoenix’s fastest growing industrial submarket.

 At completion, the park will accommodate approximately 9 to 10 million square feet of Class A industrial distribution and manufacturing space, making it the largest freeway-fronting industrial employment site in Arizona.

 Managing Directors Anthony Lydon and Marc Hertzberg, and Senior Vice President Riley Gilbert, from the Phoenix Office of JLL brokered the 611-acre land purchase on behalf of the development team.

Marc Hertzberg
 “Glendale’s ‘New Frontier,’ located on the Loop 303 corridor, is quickly becoming the backbone in Arizona’s industrial market and we are thrilled to welcome Camelback 303 into this area,” said Glendale Mayor Jerry P. Weiers.

“The addition of this development is another example of Glendale’s commitment to growth. Merit Partners has successfully completed several projects in Glendale and this new deal is a true testament to the importance of relationships in bringing more jobs and state-of-the-art facilities to the West Valley.”

“We are extremely excited to be building at this location and at a point in the cycle where demand for Class A industrial is exponential – and expected to continue to rise in the years ahead,” said Merit Partners President Kevin Czerwinski.

Riley Gilbert
“Camelback 303 is the natural extension of the market success we’ve already experienced at our adjacent industrial park, PV 303. Camelback 303 allows us to continue that momentum.”

“The Loop 303 corridor continues to grow in strength and prominence as a preferred logistics home for a range of businesses in the Phoenix region,” said Johannson Yap, Chief Investment Officer for First Industrial Realty Trust.

“We are excited to expand our investment in the region and serve the needs of customers through this multi-year development opportunity with our valued partners.”

 “Diamond Realty Investments is proud to continue our trusted relationship as an equity partner with First Industrial and Merit Partners in this Class A industrial development in the greater Phoenix area,” said David Richards, DRI Managing Director of Industrial Investments.

Mayor Jerry P. Weiers.
 Camelback 303 sits along the west side of Loop 303, offering extensive freeway frontage between the Camelback Road and Bethany Home Road interchanges.

 With ample land and multiple access points along Camelback Road, Cotton Lane and Bethany Home Road, the site provides the physical and logistical advantages to serve tenants ranging from mid-size users to the region’s largest industrial operators.

 “The West Valley has gained a national reputation for delivering prime locations, skilled workers and a low cost of living and doing business – all of the benefits industrial users demand,” said Hertzberg.

 According to the Q2 JLL Phoenix Industrial Insights report, Valley industrial rents are on the rise and absorption is up 39 percent from this time last year, marking the 28th straight quarter of positive absorption with no sign of slowing.

David Richards
Nationally, JLL reports that demand for U.S. industrial real estate could increase by 1 billion square feet in the next five years.

“The ecommerce industry alone has grown by 35 percent this year, compared to just 14 and 15 percent in recent years,” said Lydon. “Sustaining this kind of consumer demand requires a massive uptick in logistical support from projects just like Camelback 303. The delivery of shovel-ready corporates sites is timely.”

 Kevin Czerwinski
 Camelback 303 is a sub-four-hour-drive from Southern California’s Inland Empire submarket and will leverage its proximity to the ports of Los Angeles and Long Beach.

It is less than 30 minutes from Sky Harbor International Airport and 2.5 miles from the new Northern Parkway, a four-lane I-10 reliever expressway providing workforce connectivity between the Loop 303, Central Phoenix and Glendale, and placing Camelback 303 within 30 minutes of 1.5 million residents.

 With these advantages, the Loop 303 corridor is projected to grow from a 15 million-square-foot industrial submarket to more than 50 million square feet of industrial space within the next five to six years – with major users in the e-commerce, manufacturing, food and beverage, and third-party logistics companies.

 Reflecting this trend, corporate employers nearby include UPS, XPO/Boeing, Ferrero, Ball Manufacturing, Sub-Zero and REI.

 Camelback 303 will offer build-to-suit opportunities and speculative development.

  CONTACT:

Stacey Hershauer
Phone: +1 480 600 0195

The Babb Group Arranges $820,000 Sale of Six-Unit Apartment Building in Gulfport, FL



Six-unit Gulfport, FL apartments, 5601 31st Avenue South

 
 Casey Babb

 GULFPORT, FL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 5601 31st Avenue South, a 6-unit apartment property located in Gulfport, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $820,000.

  The buyer, a private investor, was secured and represented by Shawn Rupp, Jay Ayres, Casey Babb, CCIM and Luis Baez, CCIM, investment specialists in Marcus & Millichap’s Tampa office.

Shawn Rupp
“Gulfport is a very unique submarket with one of the strongest occupancy rates in the Tampa-St. Petersburg metropolitan area. The location is top-tier in Tampa Bay and is what attracted the buyer to the property,” said Ayres.

5601 31st Avenue South, built in 1972, is located in Gulfport, Fla. 

Luis Baez


The corner property features New Orleans-style apartments, resident parking, on-site laundry utilities, and is situated only a short walk from the beach.

CONTACT:


Whitney Davis
Marketing Coordinator
Certified Agent Support Specialist
Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
(813) 387-4743 direct
(813) 387-4700 main
(813) 387-4710 fax
whitney.davis@marcusmillichap.com



Nominations Open for Sixth Annual International Society of Hospitality Consultants' Lori Raleigh Award


Andrea Belfanti

Atlanta, GA -- The International Society of Hospitality Consultants (ISHC)  announced that nominations are being accepted for the sixth annual Lori Raleigh Award for Emerging Excellence in Hospitality Consulting. 

Launched in 2015 in honor of Lori Raleigh, founder of the Travers Group and executive director of ISHC 2000-2013, the award honors young, successful industry professionals with leadership qualities and a perceived bright future in hospitality consulting.

 Wendy Chan

“The Lori Raleigh Award for Emerging Excellence in Hospitality Consulting provides an opportunity to recognize young professionals who demonstrate early career success and leadership qualities,” said Andrea Belfanti, executive director, ISHC.

Lori Raleigh
Last year’s winner was Wendy Chan senior vice president within JLL’s Hotels & Hospitality Group, leading the advisory and asset management efforts throughout Latin America. 

For more information on The Lori Raleigh Award, please visit www.ishc.com/awards or go directly to the nomination form here.

CONTACT:

CHRIS DALY
PRESIDENT
DG Public Relations, LLC
42806 Oatyer Court
Broadlands, Va. 20148
Main: 703-435-6293
Mobile: 703-864-5553


The Castell Project, Inc. Promotes Deborah L. Cox to Vice President



 Deborah L. Cox 

ATLANTA, GA —Officials of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry announced that Deborah L. Cox has been promoted to vice president. 

“Deb has been instrumental in helping Castell expand to where it is today, and we realize she is pivotal to continued growth as we work towards our goal of seeing at least one in three women at the C-Suite level within the hospitality industry,” said Peggy Berg, chair , Castell Project, Inc. 

 “Her background in strategic planning, equality issues and conflict resolution have made her an invaluable part of our organization. 

"As we have scaled programs and increased our outreach, her behind the scenes work has taken us from a start-up mentality to a well-organized machine.  The Board and I are confident Deb will play a critical role in realizing Castell Project’s  goal of a more gender-neutral workplace.

Peggy Berg

Prior to joining the Castell Project, Cox was principal of Interacting Dynamics, a full-service consultancy focused on strategic and influencer marketing, corporate communication and merger integration.   

 Previously, she was co-founder and principal of CoMass Group, an organization that designed and delivered programs to address issues of incivility and lateral violence within the healthcare community. 

CONTACT:

CHRIS DALY
PRESIDENT
DG Public Relations, LLC
42806 Oatyer Court
Broadlands, Va. 20148
Main: 703-435-6293
Mobile: 703-864-5553