Tuesday, November 22, 2016

The Union Dallas Announces Fox Restaurants Concepts’ North Italia Newest Dallas, TX Location



Sam Fox
DALLAS, TX – RED Development announced that Fox Restaurants Concepts’ North Italia restaurant will open a new Dallas location at The Union Dallas in 2018.

The 5,500 square-foot modern, full service pizza and pasta Italian concept from restaurateur Sam Fox, will be on the ground level overlooking the central plaza of the office, residential and retail project that will total approximately 800,000 square feet in the Uptown area of Dallas.

Serving lunch and dinner seven days a week, the restaurant is designed to open onto Field Street and will offer indoor and outdoor seating. Known for its made-from-scratch daily pastas and pizzas, the restaurant will bring a fresh, inviting and moderately priced dining option to the area. North Italia will join another Sam Fox restaurant at this location, The Henry.

“North Italia is a sophisticated, highly successful restaurant concept from the one and only Sam Fox, which perfectly complements the polished, welcoming live-work-play urban environment we are creating at The Union,” said Mike Ebert, Managing Partner, RED Development.

Mike Ebert
“North is a real draw that will appeal not only to residents and people who work at The Union, but also to neighbors and visitors to Uptown Dallas seeking a best-in-class restaurant that marries wonderful food with a hip and inviting setting.”

“We are looking forward to opening North Italia, our love letter to Italy, at The Union in Uptown Dallas,” said Sam Fox, founder of Fox Restaurant Concepts. 

“This energy-filled location in a great part of town offers an ideal environment for us to showcase the art of handmade pizza and pasta, along with an inspired wine list and much more, in the spirit of a true Italian taverna.

“Our restaurant in Austin has been so well received, and we are eager to bring our authentic approach to modern Italian food to Uptown Dallas.”

John C. Wander
At The Union location, guests can expect to enjoy the same freshly made tasty mix of pizzas, along with a mix of chicken, seafood and steak options offered in their other nine locations in Arizona, California, Colorado, Kansas and Texas. 

Slow-cooked short ribs, New York Strip, Atlantic Salmon and Diver Scallops will be on the menu along with home-made Strozzapreti with Bloomsdale spinach, supple ribbons of tagliatelle for Bolognese and several pizza options accompanied by an extensive wine list and mouth watering desserts like Salted Caramel Budino and Olive Oil Cake.

“The vibrant mix and quality of dining options at The Union is one of the many amenities that initially attracted our firm to this location,” said Vinson & Elkins Partner John Wander.  “The walkability to a variety of restaurants is important to our more than 145 attorneys and will also offer convenient opportunities for our clients.  We are looking forward to moving to this highly-desirable workplace and location.”

Mike Wallner
Beyond the inviting ground-floor location that is within walking distance of Dallas’ premier sports, entertainment, museum and outdoor park venues, The Union’s 21,000-square-foot green space and events plaza will enhance North Italia’s exceptional culinary experience. 

The central plaza will be designed by top Texas landscape designer, Office of James Burnett, and will be surrounded by water features, seating areas, trees and a performance area so that diners may extend their experience before or after their meal with a stroll through the green space or simply sit and enjoy the ambience of the park-like setting.

Located at Field Street and Cedar Springs Road, The Union is a connection point for many of Dallas’ most vibrant business and residential districts including Downtown, Uptown, the Arts District and Victory Park neighborhoods.

 Ideally located, the signature 22-story contemporary designed blue-hued office tower and 23-story residential tower offer sweeping views of the city with unparalleled conveniences and amenities to tenants.

The Union offers 417,000 square feet of premier Class-AA rentable office space - two premier professional services firms were previously announced to be moving to The Union Dallas office tower. One of the nation’s largest law firms, Vinson & Elkins, will move its firm to the project in 2018 and will occupy approximately 82,000 square-feet on three floors of the signature office building. Weaver, the largest independent accounting firm in the Southwest, will move its Dallas office to approximately 58,000 square feet and two floors in the office tower.

The Union Dallas
Strategic project partner, StreetLights Residential, is leading the design and development for the 23-floor residential tower offering 309 luxury apartment homes and distinctive amenities. 

Designed by Dallas-based architect, HKS, Inc., and with DPR as the general contractor, the project will feature 87,000 square-feet of retail including a 60,000 square-foot Tom Thumb grocery store on the ground floor to provide convenient on-site grocery shopping.

Mike Kallner with RED Development oversees retail leasing along with CBRE/UCR’s Urban Retail and Leasing team.

For a complete copy of the company’s news release, please contact:

McClain Stone
Culver Public Relations
3102 Maple Ave., Suite 235
Dallas, TX  75201
  
214.352.5980 office
214.980-3034 cell



NAI Realvest Negotiates 15-Year Ground Lease on Fowler Avenue near USF in Tampa, FL for new Dunkin Donuts.

Kimberly Manson

Jeff Tanner
TAMPA, FL  – NAI Realvest recently negotiated a 15-year ground lease agreement for a 21,422 square foot retail parcel located at 1911 E. Fowler Ave. in Tampa.

Kim Manson, director of retail and investment sales at NAI Realvest and Jeff Tanner, senior VP of investment sales and leasing, brokered the transaction on behalf of Tenant, DB Real Estate Assets, I LLC of Canton, Mass.

 Linda Snyder, Commercial Agent with RMC Ross Realty represented the Landlord, Miami-based Orion Venture VI, LLC.

The existing retail building will be demolished and the tenant will soon construct a new Dunkin Donuts on the site. 

For a complete copy of the company’s news release, please contact:



Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lversehlco@aol.com

Monday, November 21, 2016

Orlando, FL Land Brokers Maury L. Carter & Associates, Inc. Experiencing Banner Year With over 10,089± acres in land sales and $61 million in cash volume for First Nine Months


Maury L. Carter, left, and son Daryl M. Carter

ORLANDO, FL -- Maury L. Carter & Associates, Inc. announces the following recent transactions:

Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller in the sale of 40± acres on Goldenrod Rd in Orlando, FL. The property was sold to Goldenrod II, LLC for $500,000. Pinecrest Real Estate Group, LLC represented the buyer in the transaction.

Clyde Wells with Maury L. Carter & Associates, Inc. represented the seller in the sale of 22.5± acres along Florida’s Turnpike and Simpson Road in Osceola County, FL. The property was sold to Paradise 225, LLC for $2,000,000. Jazmin Savloff with Blue B Properties, LLC represented the buyer in the transaction.

John Evans
Daryl M. Carter, Trustee of Carter-Lake Hart Land Trust, sold 4.29± acres on Moss Park Rd west of SR 417 in Orange County, Florida. The property was sold to Floriday Properties, Inc. for $950,000. Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the seller and Fusilier Realty Group-Nona, LLC represented the buyer.

Daryl M. Carter, Trustee of Carter-Flagler Seminole Woods Land Trust, purchased 268± acres on Belle Terre Blvd. in Palm Coast, FL. The property was purchased from Florida Landmark Communities, LLC for $2,275,000. Daryl M. Carter with Maury L. Carter & Associates, Inc. and Jeffrey R. Douglas represented the buyer. There were no other brokers involved in the transaction.

John Evans, Daryl M. Carter and Clyde Wells of Maury L. Carter & Associates, Inc. represented the seller in the sale of Stafford's Prairie Ranch, 671± acres in Levy County, FL, and represented the buyer on the adjacent 100± acres. The combined price for both properties totaled $1,200,000. There were no other brokers involved in the transaction.

Daryl M. Carter, Trustee of Carter-Marion 591 Hwy 316 Land Trust, sold 591± acres on Hwy 316 in Marion County, FL. The property was sold to Muddy Acres Land and Timber LLC for $1,400,000. Daryl M. Carter and John Evans with Maury L. Carter & Associates, Inc. represented the seller in the transaction.

Since January of 2012, Maury L. Carter & Associates, Inc. has completed over $227 million in transactions on 26,000 acres of land.

Maury L. Carter & Associates, Inc. is an Orlando-based full service commercial real estate firm proficient in commercial real estate investments, asset management, brokerage, and development. The firm's officers combine more than 75 years’ experience in real estate investments and brokerage.

 For a complete copy of the company’s news release, please contact:

Maury L. Carter & Associates, Inc.
3333 S. Orange Avenue, Suite 200
Orlando, FL 32806
407-581-6206 direct
407-422-3144 office




L5 Investments Partnership Completes $17.75 Million Acquisition of 289-Unit Apartment Community in Lenexa, KS


Kelly Weber

Lenexa, KS – A partnership between L5 Investments and BH Equities has acquired Lenexa Pointe Apartments, a 289-unit apartment community for $17.75 million. The property is situated on 20.46 acres and is located at 12000 W. 77th Terrace in Lenexa, KS, a city approximately 12 miles south of Kansas City, MO.

Built in 1972 and renovated in 1992, Lenexa Pointe is a garden-style apartment community that includes 145 one-bedroom units and 144 two-bedroom units. The on-site amenities include a swimming pool, clubhouse, and picnic areas with charcoal grills. Its location provides excellent access to Interstates 35 and 435, retail, dining, and award-winning schools.

Lenexa Pointe Apartments, 12000 West 77th Terrace
 Lenexa, KS
The partnership is planning a major renovation of the property estimated at more than $6 million and will include construction of a new leasing center, business and fitness center; landscaping enhancements; new lighting; and exterior signage.

 Improvements will also be made to the majority of unit interiors which will include the installation of new flooring, cabinets, counters, lighting, fixtures, appliances, and washers and dryers

Additionally, in a strategic move to improve Lenexa Point’s operational functions, BH Equities will manage the property through BH Management Services, its property management arm.

“L5 continues to be bullish on seeking apartment assets in strategic locations that offer a favorable upside,” said Michael Flaherty, founder and managing partner of L5 Investments, a Northern California-based multifamily investment firm.

“We are pleased to partner on another multifamily acquisition with BH Equities and believe our very comprehensive property renovation plans for Lenexa Pointe will provide residents with a quality, amenity-rich, and well-managed community.”

Michael Flaherty
“This is BH’s second venture with L5 in the greater Kansas City Metro, and part of an overall relationship that spans from Texas to the East Coast,” said Kelly Weber, director of marketing for BH Management Services.

 “Our similar philosophies of maximizing value for our residents through amenity-rich community enhancements make for an excellent partnership.”

With more than 50,000 residents, the City of Lenexa boasts one of the top school districts in the state and nation. It also has a strong business community with a number of high tech and bioscience companies located there.

The city also provides a favorable commuting environment for those driving or taking public transportation to Kansas City and surrounding areas. 

The job market throughout the greater region continues to expand as major companies such as Google Fiber, Federal Express, Wausau Supply, Procter & Gamble and H&R Block have made recently announcements to relocate operations or expand their presence in the area.

Dustin Dulin with JLL arranged the debt on behalf of the partnership.  Brandon Grisham with CBRE brokered the deal with both the buyer, and the seller, a private investor.    

 For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
949.278.6224


Hold-Thyssen Negotiates Retail Leases totaling over 15,400 Square Feet, Including Long Term Lease with Walgreens at Pottsburg Plaza in Jacksonville, FL

  
Therese Taylor


Jacksonville, FL -- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently completed a five-year NNN lease renewal agreement with Walgreens for 13,905 rentable square feet at Pottsburg Plaza in Jacksonville at 11 University Blvd. North.


Pottsburg Plaza, Jacksonville, FL
Therese Taylor, leasing agent at Hold-Thyssen, negotiated the transaction representing Bear Stearns 04-PWR5, Pottsburg Plaza, LLC, landlord of   the property, a 35,905 square foot retail strip center at the northeast corner of University Blvd. N. and Atlantic Blvd.
                     
At the same time, Taylor represented the landlord in a one-year renewal NNN lease with Check N Go for its 1,496 square foot unit at Pottsburg Plaza.

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.


For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications  407-644-4142 Lvershelco@aol.com

   

Rhodes+Brito Architects Appoints Project Coordinator in Orlando, FL


Marvin L. Weeks
ORLANDO, FL – Rhodes+Brito Architects, based in Orlando has appointed Marvin L. Weeks, AIA  project coordinator.

Ruffin Rhodes, co-founder and partner in the firm, said Weeks holds a Master of Architecture from University of South Florida School of Architecture and Community Design.  

Weeks’ 18 years of experience includes 16 years of internships and full-time work most recently working closely with corporate design managers and project managers on several HopCat craft beer bars and Seasons 52 restaurants.

In his new role at Rhodes+Brito, Weeks will provide support services for the firm’s project architects on design development, construction documents, bidding and construction administration

For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications  407-644-4142 Lvershelco@aol.com

   

HFF arranges development deal for mixed-use residential, retail and office project in Alexandria, VA

  
Susan Carras
  
WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a transaction for the development of The Gateway Alexandria, a planned 585,000-square-foot mixed-use project with luxury residences, below-grade parking, grocery-anchored retail and office space in Alexandria, Virginia.

Walter Coker
HFF worked on behalf of Abramson Properties, who worked over the past five years to assemble and entitle the project.  HFF identified Weingarten Realty Investors, who purchased the site and will lead vertical development of the exciting project.

The Gateway Alexandria will be a transformational project for the city of Alexandria.  The site is the location of the former Jefferson Hospital and its medical buildings, which is proximate to the Northern Virginia Community College and the Department of Defense at Mark Center.

 This premier mixed-use development will be situated on 5.2 acres at the corner of King and North Beauregard Streets and one half of a mile from Interstate 395.  The development will create a dynamic community with vibrant, grocery-anchored retail lining a walkable promenade. 

The site’s location is prominent in the north central section of Alexandria at the city’s boundaries with Fairfax and Arlington Counties.  A Transit-Oriented Development (TOD), The Gateway Alexandria is six miles from the Capital Beltway, five miles from downtown D.C. and four miles from both Old Town Alexandria and the Pentagon.

 In 2017, the site will be served via a new Bus Rapid Transit station in addition to the current Metrobus and DASH bus service.  Once completed in 2019, The Gateway Alexandria will be a three-building, mixed-use property featuring 352 multi-housing units, 74 of which will be affordable units; 110,000 square feet of ground-floor retail space anchored by a Harris Teeter grocery store; 87,000 square feet of office space; and below-grade parking with 820 spaces for the entire development, including 320 spaces for residential use. 

Brian Crivella
Weingarten's net investment at completion is estimated to be $160 million and will include ownership in the retail, 275 luxury residences and approximately 23,000 square feet of office space.

HFF’s team was led by Susan Carras, Walter Coker, Brian Crivella, John Owendoff and Jordan Lex.  Dave Millard and Peter Berk of Avison Young and Dave Dochter of Dochter Alexander provided leasing advisory services for the office and retail portions of the project.


For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com


HFF arranges $7 million in acquisition financing for a warehouse/distribution building in Linden, NJ

  
Michael Klein
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $7 million in acquisition financing for 1501-1525 West Blancke Street, a 115,913-square-foot warehouse/distribution building fully leased to two tenants in Linden, Union County, New Jersey. 

HFF worked on behalf of the borrower, Penwood Real Estate Investment Management, LLC, to place the five-year, fixed-rate loan with First Bank New Jersey.  Loan proceeds will be used to purchase the building and fund immediate and future capital expenditures, tenant improvements and leasing commissions.

1501-1525 West Blancke Street is a single-story building fully leased to Vantage Specialty Chemicals and HelloFresh.  The facility features 18’ to 22’ ceiling heights, 16 dock bays and two drive-in bays.

 Situated on 4.5 acres in Union County, 1501-1525 West Blancke Street is serviced by northern New Jersey’s extensive highway network, including New Jersey Route 1/9 (one mile northeast), the Garden State Parkway (1.8 miles west) and the New Jersey Turnpike (2.25 miles east).  

The property is located less than 10 miles from Newark Liberty International Airport and approximately 21 miles from New York City. 

The HFF debt placement team representing the borrower was led by managing director Michael Klein.

“First Bank quickly understood the value-add potential that the building provided and, based on Penwood’s historical track record with similar assets and the strength of the Northern New Jersey industrial market, was confident that the borrower would be able to execute its business plan,” stated Klein.

For a complete copy of the company’s news release, please contact:

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 | www.hfflp.com


Voit Directs $23.6 Million Sale of Retail Entertainment Center and Commercial Office Building in Miramar Submarket of San Diego, CA

  
Miramar Landing, Miramar submarket, San Diego, CA

San Diego, CA – Voit Real Estate Services has successfully completed the $23.6 million sale of Miramar Landing, a 131,360 square-foot retail entertainment center and the Clayton Building, a 39,170 square-foot, three-story atrium office building located in the Miramar submarket of San Diego. 

Miramar Landing is located at 8990 and 8998 Miramar Road, and The Clayton Building is located at 8996 Miramar Road in San Diego, California.

Clayton Building, Miramar submarket, San Diego, CA
Brandon Keith, Randy LaChance and Ryan Bracker of Voit’s San Diego office represented both the buyer, 8990 Miramar Landing LP, and the seller, Miramar Commercial Center, LTD, in the transaction.

“This opportunity was unique in the market. It is rare for two institutional quality assets to become available on one of the most heavily trafficked thoroughfares in San Diego,” explains Brandon Keith, Senior Vice President. 

The project, which is situated on 10 acres and has over 407 feet of freeway frontage, was owned and operated by Miramar Commercial Center, LTD for 27 years, along with San Diego-based HCA, Inc., which served as general partner and asset manager for the properties.


For a complete copy of the company’s news release, please contact:

Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
KKea@browermillercole.com


Cushman & Wakefield Welcomes Capital Markets Team of Robert Kaplan, Chris Lentz and Mark Rutherford to Miami, FL Office


Robert Kaplan
MIAMI, FL — Cushman & Wakefield announced that a team of real estate debt and equity specialists led by Executive Managing Director Robert Kaplan has joined the firm from Ackman-Ziff.

Mr. Kaplan and his team are the newest members of Cushman & Wakefield’s growing Equity, Debt & Structured Finance group, which provides a full-spectrum financial services platform to both domestic and international clients offering unsurpassed customized advisory and integrated capital solutions for all asset classes.

Mr. Kaplan began his career in real estate law before transitioning to in-house investment sales and financing for two prominent private South Florida investors. He entered the national brokerage industry in 1998, joining HFF to lead the financing group in its Miami office. Most recently he served as the head of the Florida office of New York-based Ackman-Ziff.

“Robert’s experience in commercial real estate debt, equity and investment sales complements, and will build upon, Cushman & Wakefield’s well established full-service real estate platform,” said Noble Carpenter, President Capital Markets, Americas.

Chris Lentz
Joining Mr. Kaplan are Senior Director Chris Lentz and Analyst Mark Rutherford, with over 30 years of combined experience in corporate and commercial real estate financing and sales. Mr. Lentz joined Ackman-Ziff in 2013 after earning invaluable experience at Evercore Partners, Lazard, and Lehman Brothers. At Cushman & Wakefield, Mr. Lentz will focus on originating and executing debt and equity financing transactions.

Mr. Rutherford has teamed with Mr. Kaplan for over 13 years arranging debt and equity capital as well as orchestrating investment sales in commercial real estate. He began his career as a CPA at Price Waterhouse, later rotating through positions in private equity and corporate finance.

The addition of the Kaplan team is part of a series of hires as Cushman & Wakefield assembles an “all star” team across all product lines. Since merging with DTZ last year, Cushman & Wakefield has added multifamily expert Robert Given and his team, formerly of CBRE, to its Fort Lauderdale office; acquired Atlanta-based Multi Housing Advisors and Tampa-based Taylor & Mathis of Florida; and stunned the real estate community by adding Doug Harmon and Adam Spies to its New York office.

Mr. Kaplan’s group further expands Cushman & Wakefield’s base of expertise in sales and financing, bringing complementary experience in residential, retail, hotel, office, mixed-use and industrial properties.

Mark Rutherford
“The world has been watching as Cushman & Wakefield has strategically grown and expanded its offerings to clients,” said Kaplan. “When the opportunity presented itself to join the movement, I couldn’t resist.”

“The firm’s deep pool of professionals with local market knowledge connected through a truly global network is formidable, providing investors at all levels access to a full arsenal of top-tier services,” added Kaplan. “My team and I are thrilled to join such a world-class institution.”

“Our platform continues to grow stronger in South Florida,” said Larry Richey, Managing Principal and Florida Market Leader. “The addition of Robert and his team emphasizes our commitment to building full-service capabilities to address our clients’ needs every step of the way.”

For a complete copy of the company’s news release, please contact:

David A. Meyer
Owner
Meyer Media 
+ 1 407 489 7488

Sunday, November 20, 2016

MetroGroup Realty Finance Secures $50.3 Million in Financing for Two Office Assets Totaling 328,159 SF

  
Rendering of Office Building, Denver, CO
SAN ANTONIO, TX –– MetroGroup Realty Finance, a private commercial mortgage banking firm based in Newport Beach, CA, has successfully restructured the debt on an office building in Denver, CO and an office/flex building in San Antonio, TX. 

The new financing, which totals $50.3 million, was arranged by MetroGroup Realty Finance’s Vice President, Scott Botsford.

 “Office product in secondary markets throughout the U.S. continues to perform well, especially in high growth areas such as Texas and Colorado where job and economic growth are flourishing,” says Botsford.

“San Antonio is recognized as one of the most stable regional economies in the U.S. with unemployment rates at historic lows. In addition, the Denver metro has demonstrated consistent economic growth with unemployment rates hovering around 3.3 percent.”

According to a recent report by CBRE, the San Antonio office market experienced one of the largest declines in vacancy rates earlier this year. The Denver office market finished the third quarter of 2016 with a 12.3 percent vacancy rate, down 59 basis points from one year ago.

Chris Dornin
The sponsor, Dornin Investment Group, an institutional real estate investment firm actively buying office properties throughout the Western States, was eager to take advantage of a low interest rate environment and restructure the debt to provide future funding for leasing costs.  According to Botsford, Chris Dornin, President and CEO, selected MetroGroup Realty Finance based on its track record and creative approach to sourcing capital.
 
Botsford explains, “We took a unique approach to structuring the transactions in order to meet the sponsor’s overall needs. In both transactions, we recommended pairing a bridge loan and a mezzanine loan.

"In doing so we directed and guided the collaboration of two different capital sources, with no prior experience working together to provide one loan for our client. 

"This out-of-the-box approach allowed us to achieve the desired amount in equity repatriation for the partnership buyout, while at the same time securing a more competitive rate on behalf of the sponsor.”

In the first transaction, MetroGroup Realty Finance arranged a $29.9 million loan for Parkway Plaza, an 89,388 square-foot office/flex building in San Antonio, Texas. The loan included additional advances for tenant improvements and leasing commission. 

In the second transaction, MetroGroup arranged a $20.3 million loan on behalf of the same sponsor for Highland Place, a Class A, 138,771 square-foot office building in Denver, Colorado.  Both transactions were nonrecourse interest-only for three years with two one year options.

“Overall, these transactions demonstrate MetroGroup’s rich history in providing financing and structuring transactions that meet the investment objectives of our  lenders, while at the same time achieve the best terms for our clients,” adds Botsford.


For a complete copy of the company’s news release, please contact:

Lexi Astfalk or Katie Kea
Brower, Miller & Cole
 (949) 955-7940


Jackmont Hospitality Inc. and Ludacris Open New Restaurant at Atlanta’s Hartsfield-Jackson International Airport


Chris 'Ludacris' Bridges
ATLANTA, GA – Jackmont Hospitality, Inc., in partnership with notable entertainer and restaurateur Chris ‘Ludacris’ Bridges, reveals Chicken+Beer, named for Ludacris’ third album, at Concourse D of Atlanta’s Hartsfield-Jackson International Airport.

The highly anticipated, 90-seat restaurant is Jackmont Hospitality, Inc.’s second independently developed concept at Hartsfield-Jackson International Airport following One Flew South which opened nearly a decade ago and became the first airport restaurant in the U.S. to be a contender for the prestigious James Beard Award.

Chicken+Beer serves Southern-style comfort food and locally sourced beers parallel an ambient cool vibe from the playlist to the bold wall art reminiscent of graffiti and album covers.

Daniel Halpern, CEO and Co-founder of Jackmont Hospitality Inc., consistently places a premium on celebrating the importance of locally developed concepts. Chicken+Beer will speak to the distinctions of minorities in the hospitality industry and empower the cultural and social landscape not only in Atlanta, Georgia but internationally as part of the world’s busiest airport. 

Daniel Halpern
Halpern specifically sought out Bridges’ partnership to liaise with the Atlanta community and restaurant industry.

"For over 20 years, the Jackmont Hospitality name has been synonymous with delicious food, warm hospitality and a steadfast commitment to excellence. Chris is the quintessential advocate for Atlanta’s rich culture and together we aim to introduce Chicken+Beer as a reflection of the city’s character," said Halpern

For a complete copy of the company’s news release, please contact:

Elizabeth Moore, Partner Green Olive Media (404) 815-8327 ext 5000

Stos Partners Acquires San Diego Industrial Building; Secures Long-Term Lease with Credit Tenant


CJ Stos
SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment and management firm, has acquired a 91,541 square-foot single-tenant industrial building situated on 6.12 acres in San Diego’s National City submarket for $12.225 million. During escrow, the firm secured a long-term lease with a credit tenant.

 “This transaction is a win for us in many ways,” says CJ Stos, Principal of Stos Partners.  “The property was a rare find - a vacant industrial facility in close proximity to freeways and ports with approximately three acres of excess land.

“ We recognized the potential from the beginning, and seized the opportunity to acquire the asset as a vacant property.  Our instincts were strong, and we were able to lease it prior to our escrow closing.”

In fact, Stos confirms, his firm garnered multiple offers from industrial tenants while the property was still in escrow.

            “The functionality, location and size of this property is appealing to large credit tenants who continue to have difficulty finding facilities with these attributes in this market,” he says. 

Rusty Williams, SIOR, a Principal with Lee & Associates who represented Stos Partners as the buyer in this transaction, notes, “Industrial vacancy continues to tighten throughout San Diego county, making quality, well-located industrial properties difficult for both tenants and investors to secure.”

Rusty Williams
The National City submarket has demonstrated robust growth in the past year, with vacancy rates dropping to a mere 2.6-percent in recent months.

“This market climate fuels off-market transactions, as investors seek to remain ahead of the competition,” Williams explains.  “In this case, we sourced the opportunity before it hit the market and presented it to Stos Partners, who was able to commit and follow through.”

Stos Partners plans to invest in significant capital improvements for the facility.  The firm will add a new roof, new exterior paint, and new landscaping, and will upgrade the parking lot and HVAC system.

“We continue to create value in the assets we acquire, as we actively grow our portfolio throughout Southern California,” says Stos, who notes that his firm currently has approximately 2,000,000 square feet in assets under management.  “Successful real estate investments come from the core fundamentals, which are the improvements, location, tenancy, economics and operations.  By focusing on these, we continue to maximize returns while minimizing risk.”

            The property is located at 901 Bay Marina Drive in National City, California.  The seller, a public company, was represented by Chris Holder, SIOR, of Colliers International.

For a complete copy of the company’s news release, please contact:

Lauren Burgos / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
         

Tuesday, November 15, 2016

Thompson | Dorfman Partners Doubles its Money on Sale of Apartment Community in Hayward, CA

  
Solaris Apartments, 24661 Amador Street, Alameda County, CA

Bruce Dorfman
MILL VALLEY, CA -- Thompson | Dorfman Partners, LLC (TDP), a San Francisco Bay Area real estate development and investment firm, through its TDT Ventures (TDT) subsidiary, and equity partner, BayNorth Capital of Boston, announced the venture sold a 68-unit apartment community in Alameda County, Calif., for $14,268,000, representing $209,824 per unit; $307 per square foot.

TDT purchased Solaris Apartments in 2008 for $7.1 million. 

“On many levels, this project was very successful,” said Bruce Dorfman, principal with Thompson | Dorfman Partners. “Through active ownership, we repositioned a poorly maintained and poorly managed 1960s-apartment building to provide quality and affordable workforce housing.

“There is a huge demand for this type of product in the Bay Area and we continue to look for similar opportunities.  Not only did we dramatically improve the property, which benefits our residents and the surrounding community, but we also exceeded our return metrics for our partners, even though we acquired the property just before the market meltdown in late 2008.”

According to Bob Talbott, co-founder of TDT Ventures, “Solaris Apartments is a great example of the type of well-located, value-add property that we look for in underserved markets. 

"We spent a little more than a million dollars in making significant property improvements including a new controlled access gate system, updated exterior paint, new building signage, upgraded exterior lighting, replacement of air-conditioning units, and the renovation of unit interiors.”

The garden low-rise apartment community is comprised of 52 630-square-foot one-bedroom, one-bath units and 16 860-square-foot two-bedroom, one-bath units. Some of Solaris Apartments’ amenities include a pool and well-landscaped courtyards on approximately two acres.

Bob Talbott
Located at 24661 Amador Street in Hayward, Solaris Apartments offers convenient access to the major job centers in the Bay Area and is blocks from Interstate 880, which also provides a direct connection to the Peninsula office market via the San Mateo Bridge.

The property is approximately one-and-a-half miles from the Hayward BART Station. Safeway, Walgreens, Taco Bell, 24 Hour Fitness, and many other neighborhood retailers are located adjacent to Solaris, and the property is a short drive to Cal State Hayward and Chabot College.

“This is a great location for students and workers that want easy access to I-880 and/or BART plus all of the amenities that this walkable neighborhood has to offer,” said Talbott. 

Cushman & Wakefield Vice President Scott MacDonald and Senior Managing Director Ric Russell, both located in the firm’s San Francisco office, represented the seller, TDP and TDT, and the buyer, a local private investor. 

 For a complete copy of the company’s news release, please contact:

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
anne@MonaghanPR.com
830.997.0963


Snyder Langston Names Gary Campanaro as Chief Financial Officer


Gary Campanaro
IRVINE, CA (Nov. 15, 2016) -- Snyder Langston, one of Southern California’s largest and most respected builders, announced today it has named Gary Campanaro as Chief Financial Officer. Campanaro has over 30 years of accounting, finance, and real estate experience, and has served as CFO for both privately and publicly owned companies over the past 18 years.

“We are pleased that Gary has joined Snyder Langston,” said John F. Rochford, President / COO of Snyder Langston. “He brings with him a breadth of knowledge and experience that complements Snyder Langston’s Trusted Advisor culture.”

Campanaro led the Financial Services Group of CBRE and was CFO for the civil engineering firm, The Keith Companies.  In addition to his career with KPMG, he served as CFO for restaurant companies with extensive multi-state real estate locations.

“Over the course of my career I have enjoyed the real estate industry and am excited to be a part of it once more,” said Campanaro. “Snyder Langston’s professionals are hard-working and talented individuals who value integrity above all else. This combined with the firm’s collaborative culture and long-standing reputation as a Trusted Advisor were key factors for me in deciding to come on board.”

John F. Rochford

Campanaro holds a degree in Accounting from the University of Utah, is a member of the American Institute of Certified Public Accountants, and holds a Real Estate Broker’s License from the State of California.

Campanaro will assume Paul Pfeiffer’s role as CFO, who after 19 years with Snyder Langston will be retiring.

About Snyder Langston: Established in 1959, Snyder Langston is a trusted builder to Fortune 500, mid-size, and start-up companies. 

The firm has evolved into a leader in the Western US, but maintains its strongest presence as one of Southern California’s largest and most respected builders. 

Snyder Langston has successfully developed millions of square feet of space across virtually every real estate sector.


 For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224