At Ware Malcomb, Oak Brook, IL: Grant Brandenburg Promoted to Director, Regional Operations; Troy Flick Named Studio Manager, Design

Grant Brandenburg

Oak Brook, IL (April 29, 2019) – Ware Malcomb, an award-winning international design firm, today announced two Midwest promotions:

Grant Brandenburg has been promoted to Director, Regional Operations and Troy Flick has been promoted to Studio Manager, Design. Both are based out of the firm’s Oak Brook, Ill. office. 

Ware Malcomb recently moved into a new, larger office location at 1315 22nd Street, Suite 410 in Oak Brook, Ill., accommodating the growth of the firm’s employee and client base in the Chicago and Midwest markets. Ware Malcomb also maintains a second office located at 600 W. Jackson Blvd in Chicago.

Grant Brandenburg, Director, Regional Operations  

Brandenburg has been a strong asset to Ware Malcomb’s Oak Brook and Chicago offices. He joined the firm as a Project Manager in 2013 and was promoted to Studio Manager in 2015. 

Troy Flick

  Brandenburg has experience in all facets of architecture and has worked on a wide variety of projects including office, industrial, hospitality, retail, medical office, and aviation.

Brandenburg’s versatile skills have allowed him to build a strong operations structure for the Midwest offices. In his new role, his operations management responsibilities include Ware Malcomb offices in Oak Brook, Chicago, Toronto and Atlanta.

“Grant not only brings extensive architectural design expertise to the Ware Malcomb team, his strong business acumen has also been an asset to the firm,” said Cameron Trefry, Principal of Ware Malcomb’s Chicago and Oak Brook offices.

 “His ability to find efficiencies in almost every step of our workflow has made him a strong contributor to the growth of our regional operations.” 

Cameron Trefry

A licensed architect in Illinois, Massachusetts, Kentucky, Iowa, Wisconsin, Ohio and Indiana, Brandenburg holds a Bachelor of Science degree with honors in Architectural Studies and a Master of Architecture degree, both from University of Illinois at Urbana/Champaign.

He is an active member of the International Council of Shopping Centers (ICSC) and is also certified by the National Council of Architectural Registration Boards (NCARB) and a Certified Development, Design and Construction Professional (CDP).

Troy Flick, Studio Manager, Design

In his new role, Flick manages the Midwest design operations of Ware Malcomb and is responsible for the design of select architectural projects.

 He brings 14 years of architectural design knowledge and expertise to the Ware Malcomb team. Previously working for four years in Ware Malcomb’s Design studio, Flick re-joined Ware Malcomb in 2015 as a Project Designer and has since led the design on a number of notable firm architectural projects throughout North America.

 His experience includes master planning, overall design implementation and client management. Throughout his career, he has worked on a variety of corporate office, industrial, distribution, healthcare, auto and retail projects. 

Jinger Tapia

“Troy’s keen eye for design and commitment to the team make him a valuable member of our Design studio,” said Jinger Tapia, Principal, Design at Ware Malcomb. “He upholds our mission of creating great design through our client’s vision. We look forward to Troy’s continued success and leadership at Ware Malcomb.”

Flick holds a Bachelor of Science in Architecture and Environmental Design from Kent State University. He is a licensed architect in Illinois and a member of the American Institute of Architects, a LEED Accredited Professional, and NCARB certified.

CONTACTS:

Rachel Reenders

VP Public Relations

KCOMM for Ware Malcomb

rachel@kcomm.com

Kelly Teenor, Director, Marketing, 949.660.9128, kteenor@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

Illustrated Properties Strengthens Luxury-Focused Team with Addition of Lori McAlear

Lori McAlear

PALM BEACH, FL, April 29, 2019 – Illustrated Properties has bolstered its team of top luxury real estate producers with the addition of industry veteran Lori McAlear. She is based in the company’s corporate headquarters in Palm Beach Gardens.

McAlear brings more than 20 years of experience to Illustrated. She was most recently with BWG Realty.

Mike Pappas

Her background also includes marketing and management, having served as vice president for the third largest international advertising agency, J. Walter Thompson, and senior vice president for a $5 billion private corporation.

A graduate of Northern Michigan University with a Bachelor of Science degree in Marketing/Management, McAlear also owned her own advertising agency in West Palm Beach, giving her the experience needed to reach homebuyers through various channels. McAlear is an active member of the Realtors Association of the Palm Beaches.

“Lori McAlear embodies what Illustrated is about,” Illustrated CEO Mike Pappas said. “She brings not only her ability to connect with clients, but a deep knowledge of the luxury Palm Beach market. Coupled with her marketing background, there is no doubt she will help our team reach the next level.”

Contacts:

Eric Kalis or Jasmin Curtiss

 BoardroomPR

ekalis@boardroompr.com/jcurtiss@boardroompr.com

954-370-8999

C 305-794-5123

CBRE Finds U.S. Hotels Enjoy Profit Growth, But It Is Becoming Harder To Achieve

J. Mark Woodworth

Atlanta, GA,  April 29, 2019 – While U.S. hoteliers enjoyed a ninth consecutive year of increasing profits in 2018, it is becoming increasingly difficult for managers to accomplish this task. 

 According to the recently released 2019 edition of Trends^® in the Hotel Industry by CBRE Hotels Americas Research, total operating revenue increased by 2.6 percent in 2018 for the average hotel in its survey sample. 

Managers were able to limit the growth in operating expenses to 2.8 percent, thus allowing for a 2.3 percent increase in gross operating profits (GOP) at the Trends^® properties. 

The 2.8 percent growth in expenses is less than the long-run average of 4.0 percent over the past 40 years.  However, it is greater than the 1.8 percent average annual growth rate achieved the past two years.

John B. Corgel

“With revenue growth forecast to slow down in the foreseeable future, owners and operators are beginning to wonder how much more juice is left to squeeze out of their operations,” said R. Mark Woodworth, senior managing director of CBRE Hotels Americas Research. 

“2018 marked the first year since 2009 that expense growth exceeded revenue growth, thus resulting in a slight decline in the GOP margin. 

" This is indicative of the struggle managers are having sustaining the effective cost controls that have been in place since the great recession.” 

 In 2018, 59.2 percent of the properties in the Trends^® survey sample achieved revenue gains, but only 54.3 percent realized GOP growth.

“Historically, at this point in the business cycle, we see ADR growth that really drives profits,” said John B. (Jack) Corgel, Ph.D., professor of real estate at the Cornell University School of Hotel Administration and senior advisor to CBRE Hotels Americas Research. 

“With ADR growth limited to 3.0 percent or less since 2016, we have seen a concurrent deceleration in the efficiency of the flow of top-line dollars to the bottom line.”

Trends^® in the Hotel Industry is the firm’s annual survey of operating statements from thousands of hotels across the nation.  The 2018 operating data collected for the 2019 survey was compiled in accordance with the 11^th edition of the Uniform System of Accounts for the Lodging Industry.

CONTACT:

Chris Daly

Daly Gray Public Relations

703 435 6293

chris@dalygray.com

Graycor begins construction at next Gilbert Spectrum building in Gilbert, AZ

Rendering of planned Gilbert Spectrum Building One, Gilbert, AZ

PHOENIX, AZ – On behalf of SunCap Property Group, Graycor Construction Company has started construction on a new, 135,745-square-foot flex industrial building at the Gilbert Spectrum industrial project.

The building kicks off development in the southern portion of the 63-acre project, which is situated at the southwest corner of Elliot and McQueen roads in Gilbert, Arizona.

Todd Ostransky

The building, known as Building One, is one of five new buildings – totaling more than 435,000 square feet – that SunCap will initiate at Gilbert Spectrum as the market demands.

At build-out, Gilbert Spectrum will include more than 800,000 square feet in eight to ten buildings that range in size from 60,000 to 200,000 square feet and include office and flex industrial build-to-suit opportunities.

“Gilbert is experiencing significant demand for industrial space, particularly among small and mid-size users wanting to be near major transportation corridors and to capitalize on this area’s skilled employment pool,” said Todd Ostransky, Graycor Construction Company Vice President of the Southwest Division.

 “Building One is already partially pre-leased to SDHQ Off Road, which underscores that demand. As SunCap continues to build at this site, they will be able to monitor market demand and adjust the mix of office and flex industrial product at Gilbert Spectrum to meet those needs – something that SunCap does very well.”

Mike Orr

“We believe the Gilbert Spectrum location provides a unique opportunity for businesses to benefit from a 360-degree customer and employee base,” said SunCap Property Group Senior Vice President – Development Mike Orr.

 “The location, coupled with the business-friendly environment in the Town of Gilbert, provides prospective tenants with access to an educated and diverse workforce and last-mile opportunities unparalleled in the Southeast Valley.”

Building One fronts McQueen Road and features a 32 foot clear height, 40 dock high and four grade level loading doors, and ESFR sprinklers. 

Off-road vehicle supplier SDHQ Off Road is leasing 28,000 square feet in the building, with the additional space being developed on a speculative basis, divisible down to 15,000 square feet. Building One is scheduled to complete in late July.

Chris McClurg

Gilbert Spectrum is already home to a 58,289-square-foot build-to-suit “Satellite Engineering Building” for Northrop Grumman Innovation Systems (formerly Orbital/ATK).

Built by Graycor in 2017, the one-story, Class A office building mixes open collaborative areas, task-specific work zones and a state-of the-art Sensitive Compartment Information Facility (SCIF) approved for highly classified activity.

Chris McClurg and Ken McQueen of Lee & Associates are the exclusive listing agents for Gilbert Spectrum.

Graycor represents 98 years of building experience and employs more than 1,500 construction experts.

Ken McQueen

About Graycor Construction Company Inc.

Graycor Construction Company Inc. is a leader in managing building construction and interiors projects throughout North America. In Arizona, Graycor combines more than 30 years of local subcontractor and partner relationships with the company’s 98 years of national experience in the cold storage, corporate, cultural/educational, food processing, living and lodging, logistics and distribution, manufacturing and retail markets.

 The combination maximizes Graycor’s national presence to bring Arizona clients optimal service and product delivery.

MEDIA CONTACT:

Stacey Hershauer

stacey@focusaz.com

480.600.0195

www.suncappg.com
www.graycorconstruction.com.

Pollack Shores Unveils Plans for New Apartment Community in Southwest Charlotte, NC

Steven Shores

ATLANTA, GA – Multifamily developer and investment firm Pollack Shores Real Estate Group announced it has closed on the land purchase for a 350-unit apartment community near Charlotte Premium Outlets in Charlotte, North Carolina.

Located near Dixie River Road and Shopton Road, the project will break ground in May and expand Pollack Shores’ footprint in metro Charlotte to more than 1,200 units after the firm entered the market less than five years ago.

 The new community reflects the firm’s strategy to bolster its presence in growing suburban markets throughout the Sun Belt.

Situated within the fast-growing Steele Creek submarket, the project will serve the second largest employment base in Mecklenburg County, which includes the area’s largest employer, Charlotte-Douglas International Airport.

Other top employers in the area include Time Warner Cable, Compass Group, Siemens, Frito-Lay and Microsoft. Approximately 80,000 jobs are located within 5 miles of the development.

 “A booming employment market and walkable retail make this the ideal environment for a Class A apartment community,” said Steven Shores, President and CEO of Pollack Shores.

Palmer McArthur

 “Demand for new multifamily product in Steele Creek continues to grow, and we look forward to expanding our footprint in Charlotte as we develop a community that delivers exceptional experiences for residents and builds long-term value for our investment partners.”

The apartment community is within a ten-minute walk of Berewick Town Center and is also close to I-485. In addition, residents will be able to enjoy a variety of high-end retailers and restaurants found at Berewick Town Center, including Harris Teeter, Enrico’s Italian Restaurant, Clean Juice and Turn & Burn Fitness.

“This community is poised to capitalize on the tremendous growth happening in Southwest Charlotte,” said Palmer McArthur, Vice President of Development at Pollack Shores and Charlotte native.

 Rendering of Steele Creek Apartments to be located near Dixie River Road and Shopton Road, Metro Charlotte, NC 4-28-19

“Pollack Shores now has 1,000 units under construction across the Charlotte metro area, and we are excited to bring our latest development to Berewick and Steele Creek.”

For more information about Pollack Shores, please visit pollackshores.com/.

For more information about Matrix Residential, please visit matrixresidential.com/.

Contact:

Nick Banaszak

The Wilbert Group

256-457-5384 (C)

nbanaszak@thewilbertgroup.com

Marcus & Millichap Arranges $4.3 Million Sale of 55-Unit Treeview Villas in Holly Hill, FL

Adam Podbelski

HOLLY HILL, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Treeview Villas, a 55-unit apartment property located in Holly Hill, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $4,317,500.

Adam Podbelski, Ned Roberts, CCIM and Duane C. Anderson, investment specialists in Marcus & Millichap’s Tampa and Orlando offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  

The buyer, a private investor, was also secured and represented by  Anderson, Roberts and Jason Hague, investment specialists in Marcus & Millichap’s Orlando and Tampa offices.   

“This was a true win-win for both seller and buyer.  For the seller we were able to realize a record price per unit for a property of the age and size.  

"At the same time the buyer is a acquiring a significant value-add opportunity, with in-place rents currently $200 per month below what can be achieved after renovations,” said Roberts, CCIM.

Duane C. Anderson

“This was a great acquisition for the buyer to add to their inventory in the Central Florida Market. There was a good amount of upside here making it a strategically good purchase,” added Anderson.

Built in 1980, all units in Treeview Villas are all two-bedroom, two-story townhomes. Treeview Villas is located at 913 Catherine Avenue in Holly Hill, Fla. 

CONTACT:

Davis, Whitney 
Whitney.Davis@marcusmillichap.com

HFF arranges €30 million (U.S. $34.5 million) in financing for a landmark office building in Rotterdam, The Netherlands

Weena 200, a 173,000-SF landmark office building, Rotterdam,
The Netherlands.

LONDON, ENGLAND – – HFF Real Estate Limited (HFF) announced today that it has arranged €30 (U.S. $34.5 million) million in financing for Weena 200, a 173,000-square-foot landmark office building in Rotterdam, Netherlands.

HFF advised neo capital (neo), the London-based real estate investment and asset management firm, on the five-year, floating-rate acquisition loan.

Deborah Watt

Weena 200 is situated in the heart of Rotterdam’s central business district with immediate proximity to Rotterdam Central Station, which is the third largest train station in the Netherlands, and provides accessibility to the local metro, tram and bus routes. 

The highly prominent building was renovated in 2016 and is 81% leased to 30 different tenants operating across 20 business sectors, including real estate, shipping, healthcare and serviced office sectors.

The HFF debt placement team representing the borrower was led by managing director Claudio Sgobba, and director Andrew Hornblower.

Claudio Sgobba

“As one of our core client relationships, we are very pleased to have completed our third financing on behalf of neo capital in the last 24 months,” Sgobba said. 

 “They consistently identify and perform on attractive income-generating opportunities with strong upside.  Neo capital’s business plan is emblematic of their asset management expertise, as their hands-on efforts will generate a 33% increase in rents over the first few years of ownership. 

 "As a result of their success, neo’s sterling reputation has elevated them to become a top-tier global investment manager with activity in Europe, North America and the Middle East.”

Andrew Hornblower

Deborah Watt, Head of Real Estate at neo capital, added, “We are pleased to have acquired our first commercial asset in the Netherlands with the purchase of Weena 200. 

"It is in a prime location with fantastic connectivity and is let to a range of tenants producing a well-diversified income stream. The building was refurbished recently and is therefore attractive to new occupiers and offers the potential for rental growth.

"This is exactly the type of asset that neo capital is looking to invest in – good location, good connectivity, good tenants and which will allow us the opportunity as asset managers to improve and develop the asset for the betterment of our occupiers.”

About neo capital

neo capital is an independent Investment Advisory and Asset Management company founded in 2015. It has unrivalled access to Ultra High Net Worth individuals globally and has $700 million of assets under management.

Rotterdam, The Netherlands

The company has several projects underway in Western Europe and the US and aims to double its AUM to $1.4 billion.

neo capital’s philosophy is to provide best in class investment advice to their clients so they can gain exposure to US and European real estate markets.

CONTACTS:

CLAUDIO SGOBBA

HFF Managing Director

+44 20 7317 3115

csgobba@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

+1 (617) 338-0990

krmurphy@hfflp.com

EDEN Multifamily and Ghitis Property Co. Plan Luxury Apartment Development near Daytona Beach, FL

Jay Jacobson

MIAMI, FL and PORT ORANGE, FL –– A joint venture between leading Miami-based developers EDEN Multifamily, founded by industry veterans Jay Massirman and Jay Jacobson, and Ghitis Property Company (GPC), led by former Trammel Crow Company Partner Leo Ghitis, have announced plans to build high-end apartment community EDEN Crystal Lake in Port Orange – a growing city near Daytona Beach. The development team recently received site plan approval for its intended use.

The venture intends to build 288 garden-style apartments with substantial amenities on 19.5 acres at the 1270 Reed Canal Road site. MSA Architects is the project’s architect.

Groundbreaking for EDEN Crystal Lake is expected in June 2019.

Jay Massirman

Planned community amenities include a clubhouse, resort-style swimming pool, outdoor lounge, state-of-the-art fitness center, frontage along a 38-acre lake, dog park with grooming stations and an extensive lakefront boardwalk.

The venture has secured all of the necessary capital for the development.

“It is exciting to embark on this project with Ghitis Property Company, a developer with an impeccable track record and industry reputation,” said Jacobson, president of EDEN. “Everyone involved is bullish about the location of the project site and upside of the Port Orange submarket.”

Leo Ghitis

The EDEN Crystal Lake site is located within four miles of Daytona Beach, the Daytona International Speedway, Daytona Beach International Airport and LPGA headquarters.

 It is also in close proximity to the I-95 and I-4 highways, major retail and dining, three post-secondary educational institutions and more than 72,000 healthcare industry employees.

Rendering of EDEN Crystal Lake Apartments, Port Orange, FL

“In researching Port Orange and the Daytona MSA, we saw an opportunity to accommodate the pent-up demand for brand-new, Class A apartment product,” said Ghitis, a principal at Ghitis Property Company. “We are thrilled to partner with Jay Massirman, Jay Jacobson and the team at EDEN Multifamily and look forward to a successful venture.”

 CONTACTS:

Eric Kalis or Hannah Colson

 BoardroomPR

ekalis@boardroompr.com

hcolson@boardroompr.com

954-370-8999

www.edenmultifamily.com.