Monday, February 15, 2021

KBS and Transwestern Real Estate Services Sign Property Management Agreement for Two Chicago Office Buildings Totaling More Than 170,000 Square Feet

 Micah Larmie

 CHICAGO, IL – KBS, one of the largest investors in premier commercial real estate in the nation, and commercial real estate services firm Transwestern Real Estate Services (TRS) have signed an agreement for TRS to provide property management services for two office buildings totaling more than 170,000 square feet.

 The properties, both owned by KBS Growth & Income Real Estate Investment Trust, include 213 W. Institute Place and 210 W. Chicago Ave. in Chicago’s River North submarket.

210 West Chicago Avenue, River North submarket,
 Chicago, IL
 

The buildings represent the second and third KBS-owned properties that Transwestern will provide asset services for in Chicago, with the first being Accenture Tower, owned by KBS Real Estate Investment Trust III, winner of an International TOBY Award.

 “KBS has a long history of identifying service providers who can deliver the superior level of quality management and care that our tenants and investors have come to expect from properties in our portfolio,” says Dan Park, asset manager for 213 W. Institute Place and 210 W. Chicago Ave. and senior vice president for KBS.

Dan Park
 

“Transwestern Real Estate Services has proven itself an extraordinary management team for Accenture Tower. We are excited to extend this top service to two more of our iconic office properties in the Chicago market.”

 River North is an affluent mixed-use submarket that continues to attract traditional corporate and creative office tenants as the area has evolved into a prominent location for both young, highly-educated professionals and the city’s premier decision-makers, according to Park.

213 W. Institute Place, River North submarket, Chicago, IL

“KBS recognizes the value of the River North submarket to offer the walkable amenities that Chicago office users are looking for,” says Park.

 “This region of the CBD offers an abundance of restaurants, bars, cafes, lounges and music venues. The ability to maintain a high-quality of life with a walkable urban environment has made River North the pre-eminent location for millennial employees, providing a best-in-class ‘live-work-play’ environment. KBS has been able to leverage these advantages to provide highly desirable office space.”

 Throughout the COVID-19 pandemic, the Asset Services group at Accenture Tower has been proactive – swiftly implementing sanitization and distancing protocol in accordance with CDC guidelines, communicating regularly with tenants, and maintaining tenant engagement through socially distant events for occupants who have returned to the office, according to Micah Larmie, Senior Vice President of Transwestern’s Midwest Asset Services Group.

 “We are thrilled to have the opportunity to expand our services for KBS and its Chicago office portfolio tenants,” says Larmie. “During the COVID-19 pandemic, our team has been working tirelessly to mitigate concerns and communicate with our tenants, and we will bring the same high level of service to 210 W. Chicago and 213 W. Institute.”

KBS Media Contacts:

 Lexi Astfalk or Jenn Quader

949.438.6262

kbs@brower-group.com

 

Ginny Walker

949.417.6535

gwalker@kbs.com

 

KBS Investor Relations Contact:

 

Matt Crary

KBS Associate VP – Investor Relations

949.717.6282

mcrary@kbs.com

www.kbs.com.

transwestern.com and @Transwestern.

KW PROPERTY MANAGEMENT & CONSULTING Welcomes James Baumgartner as District Manager in Tampa, FL

James Baumgartner 
 

TAMPA, FL – KW PROPERTY MANAGEMENT & CONSULTING, one of the residential property management industry’s premier companies, welcomes James Baumgartner as new District Manager in the Tampa Region.

 Baumgartner comes to KWPMC with over 30 years of experience in the hospitality, multi-family and community associations industry with a focus in other key areas to include customer service, capital improvement projects, building renovations, declarant transitions, commercial operations and more.

 Most recently, he was with another large management firm for 15 years where he held several leadership positions.  In addition to the West Coast of Florida, Baumgartner has worked in the Miami, Miami Beach, Atlanta and New York City markets throughout his management career and is now a resident of South Tampa. He is originally from Chicago and has lived in Florida since 1989.

 Baumgartner can be reached via E: jbaumgartner@kwpmc.com and C: (239) 322-9657

  

Contact:              

Daniel Benjamin

Senior Account Executive

BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.kwpmc.com.

New Townhomes near Lake Monroe, FL Planned by Henin Group; Moving Forward with National Homebuilder M/I Homes

Jerome Henin

SANFORD, FL – Henin Springview LLC, a subsidiary of The Henin Group which focuses on unique luxury neighborhoods and multifamily developments, has sold its planned Lake Monroe Shores to a national homebuilder. 

The 18-acre parcel was approved last year for 150 townhomes on the site at 2300 W. First Street in Sanford .

The Orlando Division of M/I Homes closed last week in January on the shovel-ready property located along the shores of Lake Monroe .   

The area is highly desirable with a hospital, historic downtown Sanford , a lakefront park and trails, employment corridors, and a mall nearby, said Jerome Henin, CEO of the Henin Group.

“We were delayed on the approvals and permitting during 2020 with the Covid-19 shutdown and the governmental agencies working from home,” Henin said.  Plans for the townhomes were approved and permitted after being rezoned from industrial to residential.

Construction is getting underway soon, according to Henin. “This development is a good fit for M/I Homes as they are currently building The Towns at White Cedar just a few minutes west on White Cedar Road off of SR 46. 

David Byrnes

Henin said the townhomes at Lake Monroe Shores will provide reasonably priced starter homes for Seminole County residents. 

They most likely will be priced starting in the mid $200,000s and include the homebuilders 15-year structural warranty. The three-and four-bedroom units are anticipated to start at 1,800 square feet.

M/I Homes also builds in the Henin Group’s award-winning Riviera Bella in DeBary where production homes are priced from the mid $200,000s and custom homes up to $2 million.

Contacts:              

Jerome Henin, founder/CEO The Henin Group, 

407-644-8595

or Jerome@henin-co.com.

David Byrnes, Area President or Daniel Kaiser, Vice President for Land, M/I Homes,

407-531-5100

Beth Payan, Larry Vershel Communications, 407-644-4142, 

407-461-3781 or beth@larryvershel.com


Stan Johnson Co. Closes $11 Million Sale of Ohio Distribution Facility for Above List Price

 Rob
Gemerchak
 FINDLAY, OH -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of a 180,000-square-foot industrial distribution center fully leased to American Plastics, a leading designer, manufacturer and distributor of innovative plastic-injection molded products.

 The property is located at 2040 Production Drive in Findlay, Ohio. Stan Johnson Company’s Rob Gemerchak, SIOR/CCIM, Jeff Hughes, SIOR, and Jeff Tracy represented the seller, a private Ohio-based developer.

 The property was purchased by Gladstone Commercial, an institutional investor based in McLean, Virginia. The facility traded for $11.0 million, representing a 5.5 percent increase over the asking price.

Jeff Hughes
 “The asset was well-positioned as a net lease distribution facility with highway accessibility and a compelling tenant story,” said Gemerchak, Director in Stan Johnson Company’s Toledo, Ohio office.

“We were successful in running an expedited and targeted sales program which garnered multiple qualified offers and resulted in achieving a sale price above the list price.”

 The distribution facility features a long-term net lease and is situated on eight acres near Interstate 75 in Hancock County. The building has been renovated twice since it was originally constructed in 1992, and nearby distribution tenants include Best Buy, Lowe’s, Kohl’s and Campbell’s Soup.

Jeff Tracy
Contact:              

 David Ebeling

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com