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| Barry Brown |
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| Chris Gerard |
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| Ryan Shore |
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| Matthew Barge |
CONTACT:
Kristen
Murphy
JLL Senior Manager
Public Relations
Phone: +1
617-848-1572
Email: Kristen.Murphy@am.jll.com
Friday, May 28, 2021
Village on the Parkway urban retail village in Dallas, TX sells
Boca Raton office lands $19.4 million financing
 |
Glades Twin Plaza, a two-building, Class A office complex totaling 97,815 square feet in Boca Raton, FL |
MIAMI, FL, May 28, 2021 – JLL Capital Markets announced today that it has arranged $19.4 million in financing for Glades Twin Plaza, a two-building, Class A office complex totaling 97,815 square feet in Boca Raton, Florida.
 |
| Brian Gaswirth |
Glades Twin Plaza is positioned on 5.3 acres at 2300 Glades Rd. in the primary office node of the Boca Raton West submarket.
The
property is part of the larger Glades Plaza mixed-use development, also owned
by Sterling Organization, which offers an exceptional line up of retail shops
and restaurants.
Additionally,
the asset is adjacent to Town Center, a regional mall offering best-in-class
restaurants and retailers.
 |
| Chris Drew |
Glades Twin Plaza has outstanding regional
connectivity boasting immediate access to Interstate 95, which is adjacent to
the property, and easy access to the Florida Turnpike less than three miles
away.
The JLL Capital
Markets team representing the borrower was led by Senior Managing Director Chris
Drew, Managing Director Brian Gaswirth, Director Michael DiCosimo
and Associate Reid Carleton.
“We had a strong field of lenders show up to finance Glades Twin Plaza due to a best-in-class sponsor and the robust demand for office in South Florida, which we’ve seen from both lenders and buyers,” DiCosimo said.
 |
| Michael DiCosimo |
JLL Capital
Markets is a full-service global provider of capital solutions for real estate
investors and occupiers.
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment advisory, debt
placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news,
videos and research resources on JLL, please visit our newsroom.
 |
| Reid Carleton |
About Sterling
Organization
Sterling Organization is a vertically integrated private equity real estate firm.
Its national platform operates through two platform subsidiaries, Sterling Retail Properties and Sterling Logistics Properties.
The subsidiaries are focused on investing in LAST HOUR™ consumer fulfillment and distribution real estate assets across the risk spectrum in major markets within the United States on behalf of Sterling’s principals in partnership with the highest quality institutional investors.
Sterling
Organization, with offices across the nation, is headquartered in West Palm
Beach, FL.
CONTACT:
Kristen
Murphy
JLL Senior Manager
Public Relations
Phone: +1
617-848-1572
Email: Kristen.Murphy@am.jll.com
KBS Extends Technology Focus; Achieves WiredScore Status for Four Class A Office Properties in Texas
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| City View, a 221,373 square-foot office building located at the corner of Interstate 10 and Huebner in northwest San Antonio, TX, was awarded WiredScore Gold |
NEWPORT BEACH, CA – KBS, one of the largest investors in premier commercial real estate in the nation, announced that four of its Class A office properties in Texas have achieved WiredScore certification.
City View and Fountainhead Tower are the first two
properties in the San Antonio market to achieve WiredScore certification.
 |
Fountainhead Tower, a 179,932 square-foot office building located directly off IH-10 with quick access to Loop 410 and just minutes from Loop 1604 and the San Antonio International Airport, was awarded WiredScore Silver |
City View, a 221,373 square-foot office building located at the corner of Interstate 10 and Huebner in northwest San Antonio, was awarded WiredScore Gold.
Fountainhead Tower, 179,932 square-foot office building located directly off IH-10 with quick access to Loop 410 and just minutes from Loop 1604 and the San Antonio International Airport, was awarded WiredScore Silver.
 |
| Gio Cordoves |
“KBS
understands that connectivity is critical to driving business for today’s
office tenants and enabling them to operate efficiently,” says Cordoves.
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| Brett Merz |
“By offering the first two WiredScore certified properties in San Antonio, KBS continues to lead the market in providing its tenants with outstanding service and amenities.”
Two
additional Texas-based KBS office assets – 515 Congress, a 263,058-square-foot office
tower located at 515 Congress Avenue in Downtown Austin, and 1800 Bering, a 171,510 square-foot office
building located at 1800 Bering Drive in Houston – have each been certified
WiredScore Silver.
 |
| 515 Congress, a 263,058-SF office tower located at 515 Congress Avenue in Downtown Austin, TX |
With
these new designations, KBS now holds a majority of Wired Certified assets
nationwide.
Properties
achieve WiredScore certification by meeting WiredScore’s criteria in three
categories: connectivity, infrastructure and readiness.
WiredScore
Gold certification indicates that a property offers access to multiple
high-quality internet service providers as well as in-place infrastructure measures
that ensure connectivity sources are protected, redundant and prepared for the
needs of current and future tenants.
 |
1800 Bering a 171,510 square-foot office building located at 1800 Bering Drive in Houston, TX and 515 Congress in Austin, TX have each been certified WiredScore Silver. |
“Superior
connectivity has become increasingly important to today’s office tenants over
the last couple of years, and will continue post-pandemic as more employees
return to the office,” says Brett Merz, asset manager for City View,
Fountainhead Tower, 515 Congress and 1800 Bering and senior vice president for
KBS.
 |
| Arie Barendrecht |
“These four WiredScore certifications exemplify KBS’ ongoing commitment to enhanced connectivity for tenants. By achieving WiredScore status, these four top-quality assets can more effectively meet the needs of today’s companies.”
I “Top-quality connectivity is an excellent example of the best-in-class amenities KBS consistently delivers to its tenants,” says Arie Barendrecht, CEO & Founder of WiredScore.
“The WiredScore certification KBS has
achieved at these four Texas properties will enable tenants to remain online
and maintain their productivity levels through a seamless online experience.”
CONTACT:
Micaela Fehrenbach
Account
Manager
O 949 438 6262 x8
Brower
Group, Inc.
The
Smart Agency® for
Smart Clients who want Smart Work
220 Newport Center Drive, Suite 22 · Newport Beach, CA 92660
Stos Partners Acquires 62,000-SF Multi-Tenant Industrial Property in San Marcos, CA
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| Stos Partners Acquires 62,000-SF Multi-Tenant Industrial Property in San Marcos, CA |
The property, which is currently 100% occupied by six tenants and facilitates a range of light industrial uses, was purchased in an off-market transaction, according to CJ Stos, Principal of Stos Partners.
 |
| CJ Stos |
“This acquisition is ideally aligned with our proven strategy to purchase value-add properties located within in-demand Southern California submarkets with strong potential for upside, which we are well positioned to unlock based on our experience deep expertise in market trends,” says Stos.
“We were able to draw upon our strong broker network and proven track record of rapid closings to secure this property off market.”
 |
| Jason Richards |
Stos Partners will implement a series of capital improvements to the property, according to Jason Richards, Partner at Stos Partners.
“By acquiring this asset at a competitive basis and implementing a series of strategic capital enhancements, we will be able to bring rents up to market rate, with the goal of ultimately stabilizing at above-market returns,” says Richards.
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| Jay Boyle |
Jay Boyle, Executive Vice President at Stos Partners, adds: “Based on our knowledge of the greater San Diego market, we will be implementing an improvement program that will include a new roof, parking lot, interior and exterior paint, new fencing, and upgraded landscaping.”
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| Chris Roth |
The property, which was purchased for $8.775 million, is located at 1545-1565 La Mirada Drive in San Marcos, California.
Chris Roth and Rusty Williams of Lee & Associates represented Stos Partners as the buyer in this transaction.
CONTACTS:
Katie Haga / Elisabeth Manville
(949)
438-6262
khaga@brower-group.com
Randy Zylstra Named Barton Malow’s Director of Florida Operations
 |
| Randy Zylstra |
ORLANDO, FL – Randy Zylstra, a 30-year veteran of the construction industry, has recently been named the Director of Barton Malow Builders’ Florida operations.
“We have been
building in Florida for almost 50 years and we’re excited about the experience
and leadership that Randy brings to our team,” says Todd Ketola, Chief
Operating Officer of Barton Malow Builders, the commercial and institutional
division of the Barton Malow Family of Companies.
 |
| Todd Ketola |
“There’s great opportunity in Florida right now and Randy is the right person to lead us into this next chapter.”
Zylstra has
worked in the construction industry since 1991, and has led projects in the
higher education, K12, healthcare, industrial, commercial, and
sports/entertainment markets throughout the country.
 |
| Jennifer Regen Bisbee |
Prior to joining Barton Malow, he served in
an executive role for Gilbane Building Company. He’s a graduate of Purdue
University, where he earned a B.S. in Construction Management.
“I’m excited to
be a part of the continued history, relationships, and presence that Barton
Malow has built,” says Zylstra. “I was fortunate to have had the opportunity to
partner with Barton Malow on various projects in previous roles, and now it’s
exciting to be leading such a talented and passionate team of builders in Florida.”
CONTACTS:
Ritu Sandhu,
Director
of Marketing + Communications
Barton Malow Builders
Jennifer Regen Bisbee, APR
Founder, President, Chief Consultant
Bisbee and Company, Inc.
Public Relations │Integrated Marketing
Communications
407.257.4667
RKW Residential President Marcie Williams Inducted into Apartment Association of North Carolina Hall of Fame
 |
| Marcie Williams |
On
May 27, the AANC inducted Williams into its Hall of Fame as part of the
organization’s 2021 class.
“Being selected for this incredible honor
and joining my fellow 2021 inductees is truly humbling,” Williams said.
“I
am beyond grateful to the AANC selection committee and the wonderful people at
GCAA who nominated me for induction.
"I
also want to thank everyone at RKW for carrying out our people-first philosophy
every day and supporting me in giving back to the industry and communities we
serve.”
Since joining RKW during the multifamily management firm’s infancy, Williams has successfully built the firm from scratch to become a formidable player that successfully competes with industry giants.
Today,
RKW has 400 employees and a 25,000-unit portfolio that spans six states. It was
recognized by Multi-Housing News as the nation’s
second-fastest growing multifamily management company in the publication’s 2020
rankings.
For
more information about the AANC, please visit https://www.aanconline.org/.
CONTACT:
Eric Kalis
Vice President
BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322
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