Ackerman & Co. Represents Owner OA Development in 22,753 SF Lease at Phoenix Business Campus in College Park, GA

1740 Phoenix Parkway, College Park, GA

 ATLANTA, GA – Ackerman & Co. has completed a 13-year, 22,753-square-foot lease with United Food and Commercial Workers (UFCW) Unions and Employers Benefits Administration LLC at 1740 Phoenix Parkway in College Park, Ga., on behalf of owner OA Development Inc.

Frank Farrell

The lease takes effect February 1, 2019. Ackerman & Co.’s Frank Farrell and Kris Redding represented the owner in the transaction. Craig Mendel of Cresa represented the tenant.

1740 Phoenix Parkway, located in Phoenix Business Campus, will serve as the regional administrative offices for UFCW, which is North America’s largest private sector union, with 1.4 million members.

UFCW will relocate from the nearby 1800 Phoenix Boulevard Building 300, where it currently occupies 18,420 square feet, increasing its space by more than 4,000 square feet with the move.

Farrell and Redding are the landlord leasing representatives for OA Development’s 296,000-square-foot portfolio located in Phoenix Business Campus, Phoenix Office Park and Phoenix Summit.

Kris Redding

Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast.

The company, founded in 1967, retains an expert team of more than 100 real estate professionals. 

To date, Ackerman & Co. has developed and acquired 37 million square feet of office, medical, industrial, retail and mixed-use space, has 8 million square feet under management, and maintains an investment portfolio valued at $1 billion.

 For more information, visit www.ackermanco.com

 CONTACT: 

Steve Webb Marketing Research Coordinator P: 678.993.2935     F: 770.913.3966 …………………………………………………………………………………………. Ackerman & Co. 10 Glenlake Parkway, South Tower, Suite 1000 Atlanta, Georgia 30328

Levin Johnston Directs $16.8 Million Multifamily Acquisition in Palo Alto, CA

  

283-301 and 327 Curtner Avenue, Palo Alto, CA

 PALO ALTO, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed the $16.8 million acquisition of a multifamily community in the ultra-exclusive Palo Alto market. 

Adam Levin

“In a market with exceptional fundamentals and tremendous investor demand, this acquisition represents a unique opportunity to help a private investor exchange into a core property with long-term value potential,” says Adam Levin, Senior Managing Director of Levin Johnston.

Levin and Robert Johnston, also a Senior Managing Director with Levin Johnston, represented the buyer, a private high net worth investor, as well as the seller, a Northern California-based multifamily development company. 

 “The investment appeal of this asset is driven by Palo Alto’s exceptional employment fundamentals and low vacancy levels,” says Johnston. “Job growth in Santa Clara County is projected at 38.2 percent during the period from 2005 to 2025 – higher than the surrounding Bay Area projections. This city is thriving, and property owners and investors continue to reap strong benefits.”

Robert Johnston

The 32-unit apartment community is located in downtown Palo Alto in close proximity to schools, shopping, dining, major transportation hubs, and major employers such as Facebook and Tesla. The property was recently renovated to include an upgraded community BBQ area and pet washing station.

“This is a well-maintained property with high occupancy that benefits from a growing renter base, which will sustain long-term demand and value creation,” says Levin. 

“While it is true that the local multifamily market is tightening, this acquisition proves that we are still able to identify and secure value-add opportunities for multifamily investors in this region.”

The property is located at 283-301 & 327 Curtner Avenue in Palo Alto, California.

Contacts: 

Alex Caswell / Jenn Quader 

Brower Group

(949) 955-7940

acaswell@brower-group.com

 

BLT Enterprises Acquires 221,660-SF Manufacturing Facility in North San Diego, CA for $31.15 Million

  

3250 Business Park Drive, Vista, CA

 

Bernard Huberman

VISTA CA -- BLT Enterprises, a multi-faceted commercial real estate development and investment company, has acquired a 221,660 square-foot corporate headquarters-quality industrial manufacturing and warehousing facility in the North San Diego submarket of Vista, California.

 The firm acquired the property for $31.15 million.

“3250 Business Park Drive is one of the most coveted business addresses in North County,"  says Bernard Huberman, Founder and President of BLT Enterprises.. 

”It is also the area’s only corporate headquarters-quality industrial manufacturing and warehousing facility over 200,000 square feet. This was an exceptionally rare opportunity to acquire a premier asset of this scale in one of the nation’s top-performing industrial markets.”

Ron Jacobson

Ron Jacobsen of SD Realty Partners represented BLT Enterprises as the buyer. Aric Starck of Cushman & Wakefield represented DENSO Wireless Systems America, Inc. as the seller in the transaction.

The building is currently 100-percent occupied by DENSO Wireless Systems America, Inc., a leading supplier of advanced automotive technology, systems and components, and also the seller in this transaction. DENSO built the building in 1997.

“The property was developed with high-technology industrial design characteristics,” says Huberman. “The exterior features cutting-edge modern architecture while the interior boasts extremely high-quality and fully upgraded manufacturing and warehouse space featuring 28’-30’ clear height, 12,000 amps of power, and a backup generator system, making this facility a unique find for a manufacturing tenant with high power needs.”

Aric Starck

The property also features unique design elements, including sculptured concrete and reflective glass, a stylish canopy entry and stunning two-story glass-clad lobby.

“The high-quality construction of this asset, coupled with its expansive size, exceptional visibility, and location in one of the most coveted industrial submarkets in San Diego County made this an especially attractive acquisition for us,” states Huberman, who notes that industrial vacancy throughout North County remains at a record low, closing out the end of Q3 2018 at 5.9 percent.

CONTACTS: 

Lisa James/ Jenn Quader

Brower Group

(949) 955- 7940

ljames@brower-group.com

MCA Realty Brings Office Asset Full Cycle in Henderson, NV

Gibson Tech Center, 168 North Gibson Road, Henderson, NV

 

Tyler Mattox

HENDERSON, NV -- MCA Realty, a full service real estate investment and management company based in Orange County, California, has sold Gibson Tech Center, a 29,988 square-foot office building in Henderson, Nevada for $6.98 million.

The firm acquired the asset in late 2016 for $3.15 million, according to Tyler Mattox, Principal at MCA Realty.

“We acquired Gibson Tech Center with a very specific business plan in-place,” explains Mattox. “We recognized the abundant parking at the property as a strong amenity and unique characteristic within the marketplace.

Gary P. Stache

"We decided to market the asset to call center operators and similar tenants with above average parking needs.”

This sale is demonstrative of MCA’s ability to quickly reposition a vacant asset to better fit the market and execute a lease with a global call center, and bring the project full cycle in a relatively short period of time, according to Mattox.

During ownership, MCA Realty implemented a series of renovations to the property including updating the main entry, completely modifying the interior layout to a more open concept, and new paint, among other improvements.

“Our comprehensive renovation plan and ability to tailor the building to call center tenants allowed us to quickly lease the asset to PRA Group, a global financial and business services company, on a nearly eight-year term,” says Mattox.

Patti Dillon

“This significantly enhanced the long-term value of the asset and presented an opportunity to attract a strong buyer pool that recognized the value of the property.”

Gibson Tech Center is located at 168 North Gibson Road in Henderson, Nevada.

MCA Realty was represented by Gary Stache, Anthony DeLorenzo, and Doug Mack at CBRE and Taber Thill and Patti Dillon at Colliers as the seller. The buyer, a private investor, was represented by Randy Sheinbein at NAI Capital. 

MCA Realty is a full-service real estate investment and management company specializing in commercial properties throughout the Western U.S. 

The goal of the company is to identify real estate investment opportunities and execute value creation strategies that maximize returns to its investors. 

Peter Cheng

MCA Realty's principals, Tyler Mattox, Jared Gordon, and Peter Cheng, have successfully navigated a full spectrum of market conditions, and pride themselves on building and maintaining strong relationships with industry partners.

More information is available at www.mca-realty.com.

Jared Gordon

CONTACTS:

Lindsay Mackay /Lexi Astfalk     

Brower Group

(949) 955-7940

lmackay@brower-group.com

HFF announces sale of newly constructed self storage facility in Nashville, TN

Rendering of Music City Self Storage Facility, Nashville, TN

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Music City Self Storage, a newly constructed, 1,058-unit, state-of-the-art self storage facility in Nashville, Tennessee. 

Barbara Guffey

The HFF team marketed the property on behalf of the seller, Andover Management Group.  AMERCO Real Estate Company purchased the asset.

Completed in March 2018, Music City Self Storage includes 969 climate-controlled units and 89 temperature- and humidity-controlled wine storage lockers housed in one building. 

 The state-of-the-art building features a backup generator with full building power capacity, 24-hour HD surveillance system, covered parking and unloading areas and individual alarm units. 

Situated on 1.69 acres at 506 Fesslers Lane, Music City Self Storage is one mile southeast from downtown Nashville and on the I-24/I-40 corridor, a critical thoroughfare for the city. 

Jason Nettles

This highly visible location is seen by more than 175,000 vehicles a day.  More than 82,741 residents earning an average annual household income of $70,399 live within a three-mile radius of the facility.

The HFF investment advisory team representing the seller included managing director Barbara Guffey and senior managing director Jason Nettles.

“This was a great opportunity for the buyer to strategically add to their existing Nashville portfolio with a newly constructed and modernized Class A property in a high-growth market,” Guffey said.  

CONTACTS:

BARBARA GUFFEY

HFF Managing Director

(713) 852-3500

bguffey@hfflp.com

JASON NETTLES

TN Lic. #00319495

HFF Senior Managing Director

(404) 832-8460

jnettles@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces $278 million financing for Colony Square in Midtown Atlanta, GA

                                                                Rendering courtesy North American Properties
Colony Square, Midtown Atlanta, GA

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $278.4 million financing of Colony Square, a mixed-use office and retail asset located in the heart of Midtown Atlanta, Georgia.

Colby Mueck

 The iconic, 50-year-old destination represents the first mixed-use development in the Southeast and today, it is being reimagined into Midtown’s Living Room – an activated, arts-infused gathering place for the urban neighborhood’s 20,000 residents, 70,000 office workers, 25,000 college students and 6.1 million annual visitors to commune.

The HFF team worked on behalf of the borrower, Lionstone Investments and North American Properties, to secure the loan through Blackstone Mortgage Trust (NYSE: BXMT).  

Loan proceeds were used to retire the existing loan and fund future redevelopment plans for the asset.

Colony Square currently comprises two office buildings (Buildings 100 and 400) totaling 723,470 square feet of office space atop ground floor retail. 

Libby Malloy

The redevelopment of the landmark project, which is already underway, will include renovating the existing ground floor retail in Building 100 and 400.

 The street-level component will feature a collection of unique-to-market retail and chef-driven restaurants, such as Iselle Kitchen + Bar and its artfully prepared, West Coast-influenced Italian cuisine.

The next phase will include the construction of additional office and retail space.

Ed Coco

 The retail component is 79 percent preleased to the highly anticipated food hall and iPic, an experiential movie theater with nine auditoriums, all equipped with 4K digital cinema technology; farm-to-glass cocktails with “ninja-like” servers; and a restaurant by three-time James Beard award-winning Chef Sherry Yard.

 The final phase of construction will include a 100,000-square-foot office tower (Building 500) with 18,000 square feet of ground floor retail on the northwest corner of the site. 

With a highly programmed public realm, energized streets and a best-in-class merchandise mix, the reimagined Colony Square will feature more than one million square feet of premier office and retail space upon completion in late 2020.

The property’s location at the corner of 14^th and Peachtree Streets, known in Atlanta as “Main and Main,” is one of the most highly trafficked in the city, exposing the community to more than 25,000 cars and thousands of pedestrians daily. 

Additionally, Colony Square is located close to the Interstate 75/85 connector and is a short walk from the MARTA Arts Center station.

The HFF debt placement team representing the borrower included senior managing directors Colby Mueck and Ed Coco, associate Libby Malloy and analyst Laura Sellingsloh.

Laura Sellingsloh

Lionstone Investments is a data-analytics driven real estate investment firm that conceptualizes, analyzes, and executes national investment strategies using proprietary algorithms and advanced analytics to understand the changing ways people in America want to live and work—Places for Productive People.® 

Lionstone Investments is a registered investment adviser subsidiary of Columbia Management Investment Advisers, LLC. For more information, please visit lionstoneinvestments.com.

Headquartered in Cincinnati, with offices in Atlanta, Dallas and Fort Myers, North American Properties has developed 22 million square feet of commercial space and 19,000 residential units in 15 states and 67 cities. 

In the past three years, North American Properties has launched 36 projects totaling $1.1 billion in total capitalization.

CONTACTS:

COLBY MUECK

HFF Senior Managing Director

(713) 852-3500

cmueck@hfflp.com

ED COCO

HFF Senior Managing Director

(404) 832-8460

ecoco@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Nate Wynsma Joins Lexington Homes as Vice President

Nate Wynsma

CHICAGO, IL, Nov. 19, 2018 — Chicago-based Lexington Homes, an active homebuilder throughout Chicago and its surrounding suburbs, announces that Nate Wynsma has joined the firm as vice president. In his new role, he oversees land acquisition, disposition, entitlement and development for Lexington Homes.

Jeff Benach

“We worked with Nate early in his career when he was director of land and later partner at Concord Homes, which was a successful homebuilding company my father, Ron Benach, and his partner, Wayne Moretti, ran until the firm was sold in 2002,” said Jeff Benach, principal of Lexington Homes.

 “Today, we’re thrilled to have him return to our team and bring with him valuable insight and knowledge from nearly three decades of experience working with various builders in the Chicagoland area.”

Most recently, Wynsma was vice president for Glenview, Ill.-based Ryan Building Group, where he oversaw land acquisition and development operations in multiple divisions from 2013 to 2018.

Ronald J. Benach

Benach notes it is an ideal time for Wynsma to join Lexington Homes, as the company is in a period of tremendous growth.

“Nate’s experience will be important to our continued expansion and success in the coming years,” he said. “He understands the unique challenges of our strategy of building in both urban and suburban infill locations and has a deep understanding of the townhome and single-family home communities we build.”
                                                                                                                   

Wynsma adds, “It’s wonderful to be back with this exceptional team. I was pretty young when I first worked with these executives and really cut my teeth on land acquisition and growing a homebuilding company, as Concord exploded from 300 homes closed in 1996 to 1,330 homes closed in 2002 when the company was sold.

"Today, I’m thoroughly impressed with the Lexington Homes team at all levels and excited to work for one of the area’s top builders – especially one that is so well-positioned for growth.”

Wynsma is a graduate of Hope College in Holland, Mich., with a bachelor of arts in business administration and economics, and is an Illinois Licensed Real Estate Managing Broker.

                                

Lexington Homes plans to open sales for nearly 200 additional new homes in 2019. Currently, the firm has projects underway in Arlington Heights, Des Plaines, Morton Grove, Oak Park and Chicago’s Avondale neighborhood.

CONTACTS: 

Kathryn Kjarsgaard, kkjarsgaard@taylorjohnson.com, (312) 267-4514

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Gary Vaynerchuk and VaynerMedia Announce Initial Speakers for Second Annual Agent2021 Conference in Miami Gardens, FL

Gary Vaynerchuk

Miami, FL, Nov. 19, 2018 — Highly successful serial entrepreneur and VaynerX Chairman Gary Vaynerchuk, along with his digital agency VaynerMedia, have just announced an impressive lineup of speakers for the second annual Agent2021, a one-day conference educating real estate, auto, insurance and mortgage agents and brokers about social media and digital marketing innovation.

Matt Higgins

Agent2021 will take place on Jan. 17, 2019, 8 a.m.–5 p.m. on the field of Hard Rock Stadium. Hard Rock Stadium is located at 347 Don Shula Drive, Miami Gardens, FL 33056.

The list of initial speakers includes Matt Higgins, investor on the ABC show “Shark Tank,” Miami Dolphins vice chairman, and co-founder/CEO of RSE Ventures, a private investment firm that incubates and invests in companies across sports and entertainment, food and lifestyle, media and marketing, and technology.

 Higgins will participate in the event’s opening fireside chat with Vaynerchuk on Jan. 17 at 8:30 a.m. on the field of Hard Rock Stadium.

Patty Arvielo

Additional speakers include Patty Arvielo, president and co-founder of New American Funding, Gabrielle Garrison, client solutions manager with Facebook; Brad Auerbach, head of Industry, Insurance with Facebook; Ryan Huff, research analyst with Twitter;

Nicolle Lamb

John Fitzpatrick, president & CEO of Force Marketing & Helix Technologies; Molly McKinley, VP of Marketing, First; Dave Dickman, CEO of Tagger Media; Nicolle Lamb, VP of Production, Dealer Inspire; Pat Kinsel, CEO of Notarize; Denise Casagrande, VP of Marketing, PCG Companies; Dan Moore, president of VistaDash;

Molly McKinley

Andrew Tai, CEO of MotoInsight; Marina Kitgor, regional vice president, Factual; Ace Watanasuparp, VP of Residential Lending, Citizens Bank; Raj Qasar, CEO/owner of the Boutique Real Estate Group; Douglas Jones, managing partner of JAG Insurance Group; Chelsea Peitz, national director of social sales for FNF; Jason Frazier, founder & CEO of The Agent Marketer; Darin Lynch, founder & CEO, Irish Titan; and Bradley Flowers, co-host of the Insurance Guys Podcast.

Chelsea Peitz

Speakers from VaynerMedia include Vaynerchuk; Justine Bloome, chief strategy officer; Steve Babcock, chief creative officer; Jeff Nicholson, chief media officer; Lindsay Blum, VP of VaynerTalent; Matt Guerin, VP of Partnerships; Avery Durnan, VP of Media; Jon Morgenstern, VP of Paid Media; David Cortes, VP of Integrated Strategy; and Robbie Deeks, director of Ecommerce Revenue.

Lindsay Blum

The one-of-a-kind conference, which attracts attendees from across the U.S., will feature in-depth information about digital media’s most powerful tools, platforms and tactics.

Marina Kitgor

 Ticket holders will attend keynotes, panels, and networking sessions focused around actionable advice to grow their businesses, presented by some of the real estate, auto, insurance, and mortgage industries’ most innovative business leaders and brands.

Denise Casagrande

 Industry panel topics have been released on the event website and include sessions on personal branding, content marketing, digital lead generation, influencer marketing, and much more.

Justine Bloome

“Having Matt Higgins on board for year two is super fun for me,” said Vaynerchuk. “As a CEO and entrepreneur, Matt has walked the walk and it will be fun to hear him share his successes and challenges to a group of like-minded business executives that love the grind as much as he does. He will drop a ton of knowledge ― I’m excited.”

Kim Garcia

“We’ve just announced a rock-star lineup of speakers from Facebook, Twitter, RSE Ventures, Citizens Bank, Tagger Media, New American Funding, Notarize, Factual, JAG Insurance Group, and Fidelity National Financial,” adds Kim Garcia, senior vice president of VaynerExperience.

“Attendees will benefit immensely from their deep industry knowledge and success in the space. We’ll also have a significant presence from VaynerMedia’s leadership team, who will teach attendees many of the same strategies and tactics we deploy for our Fortune 500 clients.”

For more information, please visit vaynermedia.com/service/vaynerexperience/.

Follow the conversation on Instagram@vaynerexperience, at Facebook @VaynerExperience and on Twitter@VaynerExperience.

CONTACT

Abbie Lipton 
abbie@dureeandcompany.com