Park Tower Renovations Underway;Tampa, FL Building Experiences Strong Leasing Momentum

Rendering of Park Tower, Downtown Tampa, FL

  TAMPA, FL – 2017 was a good year for Tampa’s Park Tower. A new ownership group consisting of City Office REIT, Feldman Equities LLC and Tower Realty Partners commenced a multi-million dollar renovation at Park Tower to be completed this summer.

Mike DiBlasi

Since acquiring Park Tower, eleven new tenants have leased space at the building. Mike DiBlasi, Feldman Equities Executive Vice President for Leasing and Marketing expects 2018 to be even better.

“The renovation announcement really jump-started our leasing efforts in 2017,” said DiBlasi. The largest of those deals was a 10,500 square foot lease with CAPTRUST Advisors, LLC to relocate their headquarters to the building.

In 2017, DiBlasi and Leasing Representative Ceci Tricoli leased over 44,000 square feet of new space before renovations began, and have signed proposals in-hand for an additional 15,000 square feet.

The ownership group successfully converted an empty 14,685 square foot full floor to move-in ready spec suites ranging in size from 1,500 square feet to 3,500 square feet. The suites have been quickly absorbed by the market. 

“We hope to convert another floor to move-in ready suites this year -- unless of course, a full floor user sweeps in first.” said DiBlasi. “Once the renovations are completed this summer, including the addition of a swanky new Buddy Brew Coffee café in the lobby, Park Tower will be more than 90% leased for the first time in over a decade.”

Ceci Tricoli

DiBlasi expects the renovations and spectacular views of Hillsborough Bay, the Hillsborough River and the Downtown Tampa skyline to advance the quick lease-up of the building’s remaining office space.

 “We have had tremendous success leasing up our past projects after completing our renovations - current occupancy is over 97%. Park Tower should be similarly successful. This is a great opportunity for tenants of all sizes to move into the heart of downtown,” said DiBlasi.

In November 2016, a joint venture partnership consisting of City Office REIT, Feldman Equities LLC and Tower Realty Partners acquired Park Tower.

New leases signed include the headquarters relocation of CAPTRUST Advisors, LLC, Buddy Brew Coffee and Continuity Logic, LLC. The building is anchored by BB&T, United States Department of Justice – US Attorney’s Office, Level 3 Communications, and Lykes Insurance.

The most significant change underway at Park Tower is the modernization and brightening of the 475,000 square foot office building’s façade by painting the exterior white and upgrading the main entrance.

The building’s amenities are also being upgraded with a modern, new lobby and the addition of Buddy Brew Coffee café.  The office tower’s design was created by internationally-renowned architect Gensler.

In the works are new tenant amenities, including:

·         High-end, Buddy Brew Coffee, lobby café with seating

·         6th floor “Chill Zone” tenant lounge

·         All new fitness center and yoga room with spin bikes

·         Shared tenant conference room

·         New lobby concierge desk

·         Renovated parking garage with new LED lighting

 Park Tower is located in the heart of downtown Tampa directly across from The Tampa Riverwalk & Hillsborough River; Curtis Hixon and Gaslight Parks; and the Glazer Children’s Museum and the Tampa Museum of Art.

Park Tower Renovations Underway;Tampa, FL Building Experiences Strong Leasing Momentumnvention Center, University of Tampa, and the David A. Straz Jr. Center for the Performing Arts. The tower is LEED EB Gold Certified and EPA Energy Star certified.

 The tower’s current amenities include FedEx Office, U.S. Post Office, BB&T Bank, Grow Financial Credit Union, Pearl Salon, Nature’s Table Café, and a fitness center and conference room (currently undergoing renovation).

For more information on this release, please contact:

Tammy Youngman

tyoungman@assetmarketingonline.com

Calum Weaver

MIAMI, FL -- Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire NoMia Land: a ±1.88-acre site located at the intersection of one of North Miami’s most traveled thoroughfares at NE 135th Street (47,000 vpd) and NE 6th Avenue (26,000 vpd).

The site is within the newly established Neighborhood Redevelopment Overlay district (NRO) that allows up to 100 units per acre and a building height of up to 110 feet, allowing for 188-units with a minimum average of 750 square feet. The site zoning allows for a variety of uses including residential, commercial, hotel, mixed use and assisted living.

The site serves as a “Main and Main” location within the City of North Miami. The site is approximately 1.5 miles from I-95 and Biscayne Boulevard, allowing easy access to the areas major thoroughfares.

Moreover, the site is walking distance to Arch Creek Elementary and North Miami Middle and High Schools as well as the North Miami Downtown District located on NE 125 Street.

For more information on this release, please contact:

Calum Weaver

calum.weaver@cushwake.com

Daum Commercial Assists International Apparel Co. in Identifying State-0f-The-Art Industrial Facility in Tight Orange County, CA Market

Industrial Property, Fullerton, CA

FULLERTON, CA – DAUM Commercial Real Estate Services has completed the $32.59 million acquisition of a 181,069 square-foot industrial property in Fullerton, California, on behalf of the buyer, Independent Trading Company, an international apparel distribution company.

Casey Mungo

The buyer is relocating to North Orange County from the nearby Los Angeles County city of Whittier, according to Casey Mungo, an Executive Vice President and Principal at DAUM’s South Bay office.

“Using our connections and deep knowledge of the industrial sector throughout Southern California, we were able to identify an ideal Class A, state-of-the-art, modern distribution facility for our Client,” says Mungo, who represented the buyer in this transaction.

 “This asset is new construction and strongly-suited to the buyer’s needs. By relocating to this best-in-class facility, our Client is investing in improved operational efficiencies, and providing a fresh environment for its team.”

The asset was sold by the developer, Western Realco, and the buyer will be the first occupant.

The property’s location off of the State Route 91 and State Route 57 freeways provides ease of access throughout the region and to the Ports of Los Angeles and Long Beach, further driving the appeal of the property, notes Mungo.

The building features in-demand amenities including 6,984 square-feet of office space, 32’ clear height, dock-high loading, a large truck court, and ESFR sprinkler system.

The asset is located at 4150 N. Palm Street in Fullerton, California. Ben Seybold and Sean Ward of CBRE represented Western Realco as the seller in this transaction.

For more information on this release, please contact:

Elisabeth Manville / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

emanville@browermillercole.com

HFF announces sale of office tower in Portland’s Old Town/Chinatown district

220 NW Second Avenue Office Tower, North End of Central Business District
in Portland, OR

Logan Greer

PORTLAND, OR – Jan. 18, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of 220 NW Second Avenue, a 238,751-square-foot, value-add, transit-oriented office tower in the north end of Portland’s CBD.

The HFF team marketed the property on behalf of the seller, Menlo Equities. An institutional investor, advised by local development partner Specht Development, Inc., purchased the asset.

Michael Leggett

220 NW Second offers unmatched connectivity to public transit and sweeping views of the Portland skyline across large contiguous floor plates. The building has served as NW Natural’s headquarters since construction.

 With NW Natural’s relocation to 250 Taylor, the new ownership will have the opportunity to reposition 220 NW Second by modernizing the lobby, adding first-floor shared tenant amenities and activating existing retail spaces. 

The HFF investment advisory team included director Logan Greer, senior managing director and co-head of HFF’s national office investment advisory platform Michael Leggett, senior managing director Gerry Rohm, senior director Ben Bullock, director Dave Otis and analysts Jeff Hodson and Kevin Freels.

 “We continue to see value-add opportunities price aggressively across the Pacific Northwest,” Greer said. “Within the close-end fund space, an immense amount of value-add capital has accumulated and, with few opportunities in the market, we do not expect the pent-up demand for value-add product to decline anytime soon.”

 Founded in 1994 by Henry Bullock and Rick Holmstrom and headquartered in Menlo Park, California, Menlo Equities is a vertically integrated commercial real estate company engaged in the acquisition, development and operation of properties in select technology markets.

Gerry Rohm

 Since its founding, Menlo Equities has acquired or developed more than 110 properties with a total value of approximately $5.6 billion, and they have developed and built more than 4.1 million square feet of high-profile office, R&D and engineering commercial real estate.  Learn more at http://www.menloequities.com/.

Specht Development, Inc. was formed in 1992 as the development services arm for all related Specht entities and is located in Lincoln Tower in Portland, Oregon.

Specht Development, Inc. has been involved in all sides of real estate transactions; as advisor, buyer, seller, partner and developer. This perspective enhances its ability to achieve market and client goals and to offer cost effective and creative solutions to real estate opportunities.

Since its founding, Specht (and its affiliated entities) has been responsible for developing or providing project and construction management on over 9.5 million square feet of commercial and industrial real estate with a cost basis of over $822 million.

For more information on this release, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

Blackton, Inc. to Provide Roofing and Flooring Products worth More than $2 million for Sedona Community in Kissimmee, FL

Orlando, Fla. --- Blackton Inc., the Orlando firm that ranks as one of Central Florida’s largest distributors of materials to homebuilders has been selected as the supplier of roofing and flooring at Sedona, a Maronda Homes community in Kissimmee. 

Michael “Micky” Blackton, chief executive officer, said his firm will provide more than $2 million worth of roofing and flooring materials in the construction of some 240 single-family homes at Sedona, Maronda’s newest community in Kissimmee located on Ham Brown Rd. just south of Orange Blossom Trail. 

   

“Maronda Homes has been a loyal client for decades as they’ve been building and serving new homebuyers throughout a six county region of Central Florida,” said Blackton.

Blackton, Inc., a family owned business headquartered on Alden St. near Ivanhoe Row north of downtown Orlando, has been supplying the home building industry from Jacksonville to Tampa for over 60 years.

For more information on this release, please contact:

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

Marcus & Millichap Arranges $9.5 Million Sale of Villa San Michele, a 272-Unit Apartment Building in Tallahassee, FL

Villa San Michele, 1694 Baldwin Park Drive, Tallahassee, FL

TALLAHASSEE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced the sale of Villa San Michele, a 272-unit apartment property located in Tallahassee, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $9,515,000.

John E. Brigel, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution. The buyer, a partnership, was secured and represented by Brigel.

John E. Brigel

      “The seller, after an unsuccessful attempt to sell the property a year ago, engaged Marcus & Millichap to get it sold. We told a compelling story creating a market for the asset that attracted qualified and motivated buyers nationwide willing to acquire the property at our client’s price.

”The marketing efforts developed strong, high-quality offers thus teeing up buyers for similar properties,” says Mr. Brigel.

            Constructed in 2008 the subject property is 99 percent leased as of September 6, 2017, with 91.5 percent of the leases having a guarantor. The community is a gated student housing townhome community and serves Florida's largest tier-one student housing market.

Villa San Michele is located at 1694 Baldwin Park Drive in Tallahassee, Florida.  

For more information on this transaction, please contact:

Rachel.JeanPierre@marcusmillichap.com or

Ari Ravi

Regional Manager, Tampa

(813) 387-4700

American Realty Advisors Adds to Sale And Investor Relations Team

Scott Beltz

LOS ANGELES, CA  – American Realty Advisors (“ARA”) is pleased to announce that Scott Beltz has joined the firm as Senior Vice-President/Client Portfolio Manager.

  In this role, Mr. Beltz will be responsible for developing and maintaining new and existing institutional business relationships for the firm’s full-range of commercial real estate investment products. 

 He will be covering the Western U.S. region and will join an existing team of professionals located nationwide.

Mr. Beltz brings to ARA nearly 20 years of experience working with traditional and alternative investment products on a global scale.  Most recently, he was a Managing Director at Pacific Alliance Group where he led their marketing and client servicing efforts in the U.S. and Australia. 

 Prior to that, he spent fourteen years at Oaktree Capital Management, most recently as head of their Asia Pacific marketing and client servicing business. Prior to Oaktree, Mr. Beltz was a member of the marketing department at Pacific Investment Management Company (PIMCO).  Mr. Beltz holds a B.A. degree from the University of California, Berkeley and is a CFA charterholder.

Jay Butterfield, ARA’s Executive Managing Director and Head of Business Development, commented, “We are pleased to have Scott join our investor relations team and add his unique skills and extensive experience to growing our business.  His global exposure and deep market knowledge will be a strong addition to the team.  We are looking forward to Scott building relationships at ARA and moving our vision for future growth forward.” 

              

For more information on this release, please contact:

Miki Akil / Lexi Astfalk for American Realty Advisors

Brower, Miller & Cole

(949) 955-7940, makil@browermillercole.com

www.aracapital.com.

HFF closes sale and arranges joint venture for development of 104,500 SF Mission Viejo Medical Center in Southern California

                         Mission Viejo Medical Center, Mission Viejo, CA

SAN DIEGO, CA – Jan. 17, 2018 – HFF announces that it has closed the partial interest forward sale and arranged the full capital stack of joint venture equity and financing for the construction of the ground up development of Mission Viejo Medical Center, a fully-approved, 104,500-square-foot, Class A medical office building situated on the southeast parking field of the Shops at Mission Viejo, a Simon-owned super regional mall, and just steps from the main entrance of Providence St. Joseph’s 523-bed Mission Hospital in Mission Viejo, California. 

Aldon Cole

The HFF team served as an advisor to the seller, NCA Real Estate, a Newport Beach, California-based developer, in order to explore strategic options including construction financing, joint venture equity partnerships and a forward sale. 

Ultimately, Welltower, Inc. (NYSE: HCN) agreed to purchase the developer’s interest and also provide equity and debt capital to the new partnership.

“The HFF team has been a valuable advisor to NCA as the project has evolved over the past several years, and the insights and advice they provided were critical in the successful capitalization of the project,” said David Zak, managing partner of NCA.

Mission Viejo Medical Center (“MVMC”) was conceptualized by NCA more than eight years ago when it commenced negotiations to acquire the mall site.  NCA recognized the synergies between retail and medical office projects and focused on an underutilized part of the mall. 

Olga Walsh

It is anticipated that the new project will bring substantial economic benefit to the mall from the patients and employees that will be brought to the mall each day and the mall will serve as a strong amenity to the project. 

NCA’s development team, led by Dana Whitmer, overcame numerous obstacles to close on the site and gain the necessary entitlements to construct the project, and the finished product will be well worth the effort.

Evan Kovac

MVMC will be the first on-campus medical office building constructed in South Orange County in over 10 years.  Upon completion in 2019, MVMC will be completely occupied by Mission Hospital and will include a comprehensive cancer center, medical imaging suite, endoscopy center and other significant outpatient services. 

 Designed from the ground up to be a best-in-class facility, MVMC is at the front door of the region’s pre-eminent hospital and ideally situated to serve a rapidly growing population. 

The building’s functional design was guided by HGA Architects and Engineers and emphasizes flexibility and efficiency.  The project is being constructed by Snyder Langston who has been an invaluable resource to NCA throughout the design and engineering process.

The HFF medical office investment advisory team representing the seller consisted of managing director Evan Kovac, director Andrew Milne and senior associate Trent Jemmett. 

The HFF debt placement team included senior director Zach Koucos, senior associate Olga Walsh and senior managing director Aldon Cole. 

“NCA and Welltower worked diligently throughout the complicated process, often under compressed timeframes, to see this deal come to fruition.  Once completed, MVMC will be one of the pre-eminent on-campus MOBs in the United States,” Kovac said.

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

For more information on this transaction, please contact:

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com

HFF announces $26.715 million construction loan for adaptive re-use project in Nashville, TN

Daniel Kaufman

CHICAGO, IL – Jan. 17, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces a $26.715 million construction loan for the adaptive re-use of the former May Hosiery textile mill in Nashville, Tennessee.

The HFF team worked on behalf of the borrower, Chicago-based AJ Capital Partners, to secure the two-year, floating-rate loan through LoanCore Capital.  Loan proceeds will be used for the renovation and the remaining lease-up of the property.

Originally built in 1909, the 120,000-square-foot facility was home to May Hosiery, which made socks for most of the twentieth century.  The property was mostly vacant for the last three decades and is now being redeveloped into a vibrant mixed-use property featuring 80,000 square feet of creative office space and 40,000 square feet of retail and restaurant space. 

 The project also includes a private rooftop terrace and central outdoor spaces.  At the time of closing, May Hosiery was 47 percent pre-leased to Tuck-Hinton Architects, Southcomm Media, Dream Technologies, Parson’s Chicken and Fish, and Blockhouse Barbers. 

Christopher Knight

The development is located at 425-431 Chestnut Street and 510 Houston Street in the dynamic Wedgewood Houston neighborhood, which has become one of Nashville’s fastest growing mixed-use communities.   

The HFF debt placement team representing the borrower included managing director Danny Kaufman and director Christopher Knight. 

“It was an absolute pleasure to work with the team at AJ Capital and LoanCore on this financing,” said Kaufman.  “AJ consistently creates successful and totally authentic real estate projects that capture the spirit of their locations.  It is very special to be part of their creative process.”

“The May Hosiery project is well conceived and will satisfy growing demand for innovative office and dynamic retail / entertainment space in Nashville’s Wedgewood Houston neighborhood,” added Knight.

AJ Capital Partners is a dynamic private equity investment and development organization with a portfolio of lifestyle hotel, luxury resort, and mixed-use assets across North America.

 Founded in 2008 by Ben Weprin, the company’s core competency is the creation of distinctive, locally-inspired properties set in high growth and high culture environments with diverse demand generators.  

Ben Weprin

Its experienced team leverages their hospitality-centric approach to design, programming, and place-making to drive long-term value creation in timeless real estate. 

The company has specific expertise in the execution of major adaptive re-use projects with historical significance, repositioning of existing assets, and ground-up development in U.S cities and university towns.

This body of work includes The Chicago Athletic Association, Calistoga Ranch, Soho House Chicago, Thompson Nashville, and Graduate Hotels.

For more information on this release, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Embassey Suites by Hilton New York – Midtown Manhattan Celebrates Grand Opening

Embassy Suites by Hilton New York -- Midtown Manhattan

MANHATTAN, NY,  Jan. 17, 2017--The Buccini/Pollin Group, Hidrock Properties and Hilton Hotels & Resorts today announced the opening of the 310-suite Embassy Suites by Hilton New York - Midtown Manhattan in New York. 

BPGS Construction oversaw entitlement and construction of the project, and PM Hotel Group performed technical services during programming, design and construction and manages the newly opened hotel. 

CAMPION PLATT Interiors was selected to design the hotel’s public areas, while HVS Design was responsible for the guest suite and corridor designs, and PPA provided the architectural plans.

Dave Pollin

BPG was intrigued by the opportunity to build New York City’s only Embassy Suites by Hilton hotel in an irreplaceable location.  

While New York City has witnessed an explosion of new select-service hotels on the fringes of the city’s business and residential districts, the Embassy Suites’ core location, unique and differentiated brand, all-suites configuration, multiple F&B options and 39-story design set this project apart.

 Located between 5th Avenue and 6th Avenue on 37th Street, the hotel has great access to uptown, downtown, the city’s most important transportation hubs, and crucially, Midtown South’s busy office submarket. 

Finding a site that could accommodate the Embassy Suites brand, regardless of location, was also paramount.  The 37th Street site is block-through, providing for access to both 36th and 37th Streets, and the requisite width and depth to accommodate an all-suite configuration. 

The Embassy Suites brand is known as a category killer, meaning that it dominates its segment – the all-suite format.  Each suite comes with much more space than traditional hotels, especially the newer, economy projects being built on the fringes of the city.

 The Embassy Suites brand is also highly differentiated through its value proposition – a complimentary, cooked to order breakfast and hosted evening reception – in addition to providing a selection of a la carte dining and bar options.  Finally, BPG was motived by the potential to build a 39 story building when much of the surrounding neighborhood is approximately 20 stories tall, providing stunning views of Manhattan.

With three bespoke food and beverage concepts, including one of Manhattan’s most coveted outdoor bar and function spaces, the Embassy Suites New York - Midtown Manhattan invites the community and hotel guests to enjoy a drink from its seasonal cocktail program developed by local mixologist and distiller, Allen Katz. 

Allen Katz

“BPG believes that if we hired a typical commercial hotel designer, we would get a typical commercial hotel design,” said Dave Pollin, BPG co-founder.  “Many travelers today can’t tell the difference between a hotel located in Cleveland or one in Canberra due to ‘generic hotel aesthetic blur.’ 

We hired Campion Platt to set the tone and lead the design team due to his NY experience and sensibilities; they were apparent at our very first meeting.  Campion grasps the city at its DNA level, including a deep historical understanding of the Garment District. 

“We sensed that Campion also shared our belief that the people who work and live in the neighborhood, especially the generations that preceded us, create what make it special today.  Campion also is brilliant at adding memorable, irreverent and witty design flourishes to commercial spaces that need to function efficiently and be resilient for decades.”

Located at the crossroads of New York City - Herald Square and the bright lights of Broadway - the 39-story Embassy Suites by Hilton New York - Midtown Manhattan hotel is the place to see and be seen.   With a glass façade offering supreme views of the iconic New York City skyline, the hotel is surrounded by Ernst & Young, IPG and Morgan Stanley and only a quick walk to Times Square, the Empire State Building and 5th Avenue shopping.  Penn Station and Grand Central Terminal are both steps away, easily connecting the hotel to LaGuardia, JFK and Newark airports and Amtrak’s NE Corridor.

Campion Platt

The hotel's 310 studio suites are elegant spaces consisting of sophisticated, custom finishes.  Many feature semi-private living areas with an oversized sofa seating area, some contain balconies, and all provide sweeping city views. 

 Suites provide complimentary WIFI, two 42-inch HDTVs, spacious work area, mini-fridge, microwave and coffeemaker. Luxury bath amenities and spa-like showers make the bathroom experience unique in New York.

The Embassy Suites resides in New York’s famed Garment District, the nexus of American Fashion. The Garment District serves as the creative hub of the apparel industry and is a destination for wholesale buyers, designers, stylists, retailers, students, shoppers and fashionistas around the world.

SkyLawn, the hotel’s innovative outdoor venue, can host events for up to 300 people.  The Heist Bar & Lounge intrigues guests by celebrating the greatest jewel heists in history through inventive cocktails while paying homage to New York’s famed Diamond District. The eclectic fare ranges from deviled eggs three ways to “The Heist” burger, served “with all the crown jewels.”  

The Farm Café on the third floor features a relaxing, sun-filled room for all day dining set against lacquered barn wood and tiered landscaped terraces. All hotel guests enjoy complimentary, cooked-to-order breakfast and evening cocktail reception daily at the Embassy Lounge.

BPG, Hidrock and the Embassy Suites development team engaged Campion Platt, one of NY’s most renowned interior designers, to envision and create an authentic New York design that captures the energy and innovation of the Garment District.   

Garment District, New York City, NY

From the loading dock’s glass wall, movie-projection system, to the soaring three-story lobby “water column,” to the hotel’s lobby “jewel box,” a playful homage to New York’s famed diamond dealers, the interiors feature multiple surprising features inspired by the fashion industry.  

The cool metallic and colored glass interiors are balanced with richly textured textiles and set against a quirky blend of commissioned art in partnership with Voltz Clarke.

For more information on this news release, please contact:

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com

 www.dalygray.com

www.bpgroup.net

www.pmhotelgroup.com

Lincoln Property Company Closes on Long Term Lease to International Law Firm at Airport Business Center in South Orlando, FL

Sean DuPree

ORLANDO, Fla. – Lincoln Property Company Southeast, a full service commercial real estate firm, completed a new long-term lease agreement for 3,325 square feet at Airport Business Center, 5782A S. Semoran Blvd in Orlando.

Sean DuPree, broker at Lincoln Property who handles leasing at Airport Business Center, negotiated the transaction on behalf of Landlord RCS-Orlando Airport 371, LLC.

Urban Thier and Federer, P.A. (www.urbanthier.com) leased 3,325 square feet in the office / flex business park at the intersection of Hoffner Ave. five minutes from Orlando International Airport.

The Tenant is an international law firm with offices throughout the U.S. including downtown Orlando, Palm Beach, Atlanta, New York and Los Angeles.  In Europe their offices are located in London and Munich.

  

For more information on this news release, please contact:

  

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. Lvershelco@aol.com

 407-644-4142

Pat Williams named head of JLL Phoenix office

Pat Williams

PHOENIX, Jan. 17, 2018 – The Phoenix office of JLL has named Pat Williams as Senior Managing Director and new head of the Phoenix JLL office, overseeing a team of 46 local commercial real estate brokers specializing in tenant and investor representation across a broad range of product types.

Williams previously served as the head of the JLL Phoenix tenant representation team and co-leader of the Phoenix office alongside Senior Managing Director Dennis Desmond. With the transition, Desmond will move to an expanded role within the JLL Capital Markets group.

Williams joined the local JLL office in 2000, serving as a tenant representation expert and one of six founding team members within what – at the time – was the Staubach Company, the nation’s leading tenant representation firm.

In 2008, the Staubach Company was purchased by JLL. In 2011, Williams was promoted to Managing Director and named head of the JLL Phoenix tenant representation team.

Since that time, Williams and Desmond have grown JLL’s Phoenix office to reflect the company’s comprehensive commercial real estate platform, which in Phoenix now includes tenant and landlord (agency) office, industrial, retail, healthcare and data center representation; commercial real estate investments (capital markets); multifamily investments; property and facility management; development services; and related services within the real estate leasing, investment and management process.

Dennis Desmond

“It has been gratifying to watch the Phoenix office grow into a leading market position, yet still maintain the attention to detail and client-centric philosophy that we’ve had from the start,” said Williams. 

“I’m honored to work alongside this talented group of experts, and look forward to the opportunities we have ahead of us to put Phoenix’s market strengths to work for our clients.”

Since Williams joined the Phoenix office, it has grown from six to more than 60 brokers and support team members.

 In 2016, the Phoenix team completed 34 million square feet in lease and sale transactions valued at $1.5 billion, directed $105 million in project management and currently manages a 25.2 million-square-foot portfolio.

billion, directed $105 million in project management and currently manages a 25.2 million-square-foot portfolio. For more news, videos and research resources on JLL, please visit

For more information on this news release, please contact:

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

www.jll.com

or www.jll.com/phoenix.

THE DREVER Commences “Parthenon” Marble Makeover in Dallas, TX

  

Rendering of The Drever Redevelopment, Central Business District,
 1401 Elm Street, Dallas, TX

DALLAS. TX –– Drever Capital Management’s 1.5-million-square-foot re-development of the former First National Bank of Dallas building in the heart of the Dallas Central Business District at 1401 Elm Street, has commenced removal and restoration of the historic marble slab panels on the building’s façade.

Steve McCoy

The highest quality materials available were sourced during the construction of the historic building, originally importing the dense, handsomely veined white marble slabs from the same quarry in Greece as the marble used to build the still-standing Parthenon.

Steve McCoy, president of Drever Construction Co. worked with lead architect, Merriman Anderson/Architects, and contractor, Andres Construction, to develop a solution to remove, restore and reinstall the slabs with new connections that will secure and stabilize the tower’s exterior for decades to come. 

The process provides a surplus marble and terrazzo that, to the delight of the project’s interior designers, will be reutilized in the building’s interiors.  The project is scheduled to be complete by the end of 2018, with the building opening in the first quarter of 2019. 

“The process will allow this irreplaceable stone to not only be restored to its former glory, but remain as a sound element of the building’s structure for many years to come,“says McCoy. “The fact that the team was able to find a way for the excess marble to be repurposed adds another layer of history to this already impressive structure.”

Now known as THE DREVER, the skyscraper was originally designed by architects George Dahl and Thomas E. Stanley and has been home to Hunt Oil, the Dallas Petroleum Club, and the fictitious J.R. Ewing’s staged office set for Ewing Oil in the television hit program, “Dallas”.

Aimee Sanborn

 The mid-century 52-story tower’s distinctive façade was often compared to the pin-striped fabric of a traditional banker’s suit because of the repeating pattern of white marble and dark gray floor-to-ceiling windows. 

THE DREVER re-development will include a luxury high-rise offering 324 residential units, a Thompson Hotel planned with 218 rooms, spa, retail, office and destination restaurants.

Dallas-based architects, Merriman Anderson/Architects, are the lead architects and designers designing the re-imagined interior and exterior, and are delighted with the decision to recycle the existing marble panels. Andres Construction is the construction manager overseeing the overall building project.

“The original marble is from Mount Pentelikon, a mountain range located in Attica, Greece,” says Aimee Sanborn, AIA, principal with Merriman Anderson/Architects. “It’s a beautiful natural stone with wonderful veining.  We were able to locate the quarry in Greece and have identified the exact species. To re-purpose 100% of the existing exterior marble tells a compelling cradle-to-cradle story of up-cycling.”

The condition of the panels and the integrity of the building’s engineering necessitated the decision to refurbish the marble. Existing mechanical connections were separating from the original structure. The panels will be refurbished by cladding the natural stone to a structural aluminum honeycomb backer panel, which will insure the engineering integrity and the historical value of the original marble slabs.

HyCOMB USA is responsible for the stone cutting and the application of the new structural aluminum honeycomb panel. Besides creating extra marble slabs for the building interiors, marble remnants from the cutting and cleaning process will be crushed and repurposed into terrazzo to be utilized in the elevator cab floors, elevator lobby flooring and flooring on the 9th floor amenity deck.

Jerry Merriman

“I commend Drever Capital Management for their unwavering commitment to the quality of this project,” remarked Jerry Merriman, AIA, president of Merriman Anderson/Architects. 

“Re-purposing is generally more expensive and time consuming than demolishing and replacing with new. The building’s owner, Maxwell Drever, appreciates the significance of this building to the history of Downtown Dallas.”

THE DREVER

Located on an entire Dallas city block at Elm Street, Pacific Avenue, Akard Street and N. Field Street, plans for THE DREVER mixed-use project include best-in-class multi-family, hotel, retail, restaurants, office, spa and parking. The 52-story, 1.5-million-square-foot skyscraper is designed to offer a luxury residential and best in class boutique hotel option with contemporary, inviting and culturally rich public and private spaces.

Maxwell Drever

When completed, THE DREVER’S eight-story tower base will be transformed into a dynamic area with more than 27,000-square-feet of ground floor retail space, 44,000-square-feet of office space, the hotel and residents’ lobbies and a grand ballroom. 

 A wraparound amenity deck with sightlines to surrounding buildings, including a resort quality pool, a spa, a health and fitness room, dog-park and outdoor recreation spaces will be on the 9th floor at the top of the base element. The 50th floor will feature an open-to-the-public observation deck.

For further information, please visit https://thedreverdallas.com.

 Kristina Uresti

kristina@culverpr.com

Culver Public Relations

3102 Maple Ave., Suite 235

Dallas, TX  75201

214.352.5980 office