Wednesday, June 19, 2019

Camille Renshaw Named 2019 Women of Influence Honoree for Innovation Achievements

Camille Renshaw
NEW YORK, June 18, 2019 – Camille Renshaw, Chief Executive Officer of B+E, is a 2019 Women of Influence honoree for achievements in innovation, as named by Real Estate Forum.

Since 1983, the Real Estate Forum’s Women of Influence has recognized remarkable commercial real estate professionals who have significantly influenced the market or had outstanding successes in the past year. This year, Camille was selected from a record-breaking 350 submissions.
Launched by Renshaw and her cofounder Scott Scurich in December 2017, B+E is a modern investment brokerage firm, specializing in net lease real estate and 1031 exchange.  

Scott Scurich
With offices in New York, Chicago, San Francisco, Atlanta and Tampa, B+E boasts the first NNNtrading platform consisting of user-friendly dashboards, real-time predictive pricing and an AI-driven exchange -- all leveraging the largest data set in the NNN industry. 

Buyers and sellers can conduct entire transactions online, reviewing real-time credit, news and tenant data while they trade, much like online stock trading platforms.  Complementing senior talent with exceptional technology, B+E’s proprietary process affords greater speed, unrivaled transaction efficiencies and stronger asset value. 

In May 2018, B+E launched 1031 Trade, the first trading platform for completing 1031 exchanges.  Coupled with this product launch, B+E announced an exclusive partnership with Inland Real Estate and RCX Capital Group.  


Contact:

John Vita
John Steven Vita Communications
847/853-8283

LNW Hospitality and New Castle Hotels & Resorts Break Ground on Oceanfront Marriott Dual Brand on Jekyll Island, GA

Dave Curtis [left], managing partner of LNW Hospitality; Julian Buffam [center], principal at New Castle Hotels & Resorts; and C. Jones Hooks, executive director of the Jekyll Island Authority, shovel sand at the groundbreaking for the Residence Inn by Marriott/Courtyard by Marriott on Jekyll Island, Ga. 

Photo credit: New Castle Hotels & Resorts

Jekyll Island, GA – LNW Hospitality and New Castle Hotels & Resorts, the team that developed the successful Westin Jekyll Island and Hampton Inn & Suites Jekyll Island, broke ground on their newest project, a 209-room oceanfront Residence Inn/Courtyard by Marriott on Jekyll Island, GA. 

 The property is scheduled to open in the spring of 2021.

The new hotel, which features 120 Residence Inn by Marriott rooms, as well as 89 Courtyard by Marriott rooms, will sit on a 5.8-acre oceanfront parcel.  




The two Marriott brands, combined on one property, will offer guests an exceptional experience.  Amenities include the largest pool on Jekyll Island, a large hot tub, a splash pad for children, fire pits, a Bistro restaurant, an indoor/outdoor bar and restaurant, a fitness center, and 2,600 square feet of meeting space.

“We’ve carefully designed this hotel to provide a seamless, unforgettable guest experience,” said Dave Curtis, managing partner of LNW Hospitality. 

 “LNW Hospitality has a 35-year record of success on Jekyll Island, first in restoring the Jekyll Island Club Hotel, as well as developing the Hampton Inn, Westin, and Jekyll Ocean Club.  

Jekyll Island Club Hotel, Jekyll Island, GA

"We’re pleased to partner again with New Castle Hotels and Resorts, Marriott International, and the Jekyll Island Authority, to create this stunning new getaway.”

“A dual-brand product offering gives guests more choice in accommodation while minimizing overhead through shared amenities and resources, which is particularly advantageous in a seasonal resort,” noted Julian Buffam, principal, New Castle Hotels and Resorts, which is co-developing the project and will operate the hotel upon completion.  

“The rich guestroom and amenity packages offered by Residence Inn and Courtyard by Marriott make both brands particularly popular with leisure travelers and convention goers.  These brands will be exactly the right addition to Jekyll’s family-friendly product mix.”

Jekyll Ocean Club, Jekyll Island, GA

A barrier island off the coast of Georgia, Jekyll Island became a tourist destination for the richest families in America in the late 1800s.  Over the past 15 years, more than $200 million in public and private investment has been made on the island.  

Today, Jekyll Island is home to eight hotels, a world-class ocean-front convention center, and numerous amenities to support tourism on the island.

Money Magazine ranked Jekyll Island the top place to go for vacation in 2019.  Over the last five years, the number of visitors to the island has grown by six percent per year.

“Responsible development is always at the core of our decision making, to ensure we do not overdevelop for the sake of additional lodging,” said C. Jones Hooks, executive director of the Jekyll Island Authority.  


Julian Buffam
“It’s important to understand that even with these additional 209 rooms from the new Courtyard and Residence Inn by Marriott, we will still be 100 rooms below historic ‘peak hotel room’ capacity numbers for the island, ensuring we continue to maintain the island’s natural character. 

"This project embodies our goal of welcoming new and different kinds of visitors, including business travelers and families, while remaining committed to conservation and stewardship of the island’s delicate balance.


Contact:

Lauralee Dobbins
Write Touch PR
856-979-8929



Luxury pre-war 81-year-old elevator building in prestigious Brooklyn Heights, NY offered for sale


25 Monroe Place,12-story, 67-unit, luxury apartment
 building, Brooklyn Heights neighborhood, Brooklyn, NY

Jeff Julien
NEW YORK, NY, June 19, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has been selected to exclusively market the sale of 25 Monroe Place, a 12-story, 67-unit, luxury apartment building located in the Brooklyn Heights neighborhood of Brooklyn, New York.

This offering provides a rare opportunity to acquire a trophy asset in the most sought-after neighborhood in Brooklyn.

The vast majority of the property is comprised of fair-market units not subject to rent stabilization.

25 Monroe Place is situated in the Brooklyn Heights historic district, which provides immediate access to Manhattan, the Brooklyn Waterfront, Brooklyn Bridge Park, Downtown Brooklyn and DUMBO.

Rob Hinckley
Brooklyn Heights is characterized by charming brownstones and plush tree-lined streets, and the property is surrounded by medium- and low-density buildings that provide water and Manhattan skyline views.

Built in 1938, 25 Monroe Place combines pre-war architectural elements and spacious apartment layouts with newly upgraded condo-quality finishes, including custom millwork; kitchens with Caesarstone countertops and marble tile and backsplashes; and bathrooms with custom vanities, stone and tile work, La Cava sinks and Grohe plumbing fixtures.

25 Monroe Place is now positioned as the most luxurious rental asset in Brooklyn’s most coveted neighborhood.

Brooklyn Heights has a rich history as the premier residential location in Brooklyn for over 150 years and represents a mature housing market with best-in-class convenience, amenities, culture and streetscape beauty.

Steven Rutman
The HFF investment advisory team is led by managing directors Jeff Julien and Rob Hinckley and director Steven Rutman.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

For more information, please please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:

JEFFREY JULIEN
NY Lic. #40JU1081538
HFF Managing Director
(212) 245-2425

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403


Tuesday, June 18, 2019

HFF secures $154.7 million in joint venture equity and construction financing for Class A office development in Redmond, WA


One Esterra Park, a transit-oriented, Class A office development adjacent to Microsoft’s world headquarters in Redmond, WA
Ben Bullock

 SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has secured joint venture equity and construction financing totaling $154.7 million for the development of One Esterra Park, a transit-oriented, Class A office development located adjacent to Microsoft’s world headquarters in Redmond, Washington.

Working on behalf of Capstone Partners, LLC, HFF sourced equity capital from an institutional investor and then on behalf of the joint venture secured the construction loan with US Bank.

Charles Halladay
The project is the next phase of the three million-square-foot Esterra Park live-work-play master planned community in suburban Seattle. 

With an estimated completion in fourth quarter 2020, One Esterra Park will offer 245,000 square feet of Class A office space in a six-story building designed with technology tenants in mind. 

 The property is being built to LEED Silver standards and will feature average floor plates of 40,000 square feet, robust amounts of power and mechanical infrastructure and collaborative common areas that will foster innovation and productivity. 

Bruce Ganong
One Esterra Park is positioned on a 2.2-acre site at 15550 NE Turing Street immediately adjacent to the world headquarters of Microsoft and near many of the area’s large and expanding economic drivers such as Facebook, Amazon and Google. 

 Additionally, the project is adjacent to the future Overlake Village Transit Station and the future State Route 520 off-ramp providing connectivity to major area thoroughfares, including Interstates 405 and 90. 


The HFF debt and equity placement team included Ben Bullock, Charles Halladay, Bruce Ganong, Zach Goodwin, Michael Leggett and Tom Wilson.

Zack Goodwin
“It was exciting to be part of the final phase of such a transformative multi-phased mixed-use development,” Bullock said.

About Capstone Partners

Formed in 2002, Capstone Partners plans, finances, implements and manages commercial real estate investments for investors and organizations in the Pacific Northwest and is one of the most active developers in the region with offices in both Seattle and Portland. 

Michael Leggett
Capstone has completed more than $1.5 billion of office, multifamily, industrial and retail developments representing over six million square feet and 2,500 multifamily units to date, with over $400 million of office, apartment and industrial projects in Seattle and Portland markets
underway.



Tom Wilson




CONTACTS:

TOM WILSON
HFF Senior Managing Director
(503) 224-3311

BRUCE GANONG
HFF Senior Managing Director
(415) 276-6940

KRISTEN MURPHY
HFF Director, Public Relations
(617) 848-1572

HFF closes sale of Three-building industrial portfolio in northwest Houston, TX


Kempwood Tech Center includes three Class B flex industrial warehouse buildings totaling 113,117 square feet in Houston’s Northwest industrial submarket.

HOUSTON, TX –– HFF announces that it has closed the sale of Kempwood Tech Center, three Class B flex industrial warehouse buildings totaling 113,117 square feet in Houston’s Northwest industrial submarket.

HFF marketed the property in conjunction with Ten-X on behalf of the seller, special servicer LNR Partners, LLC.  CG7600 LP purchased the assets.

Martin Hogan
Situated on 7.18 acres at 2700-2778 Bingle Road, the portfolio is located at the signalized corner of Bingle and Kempwood Roads proximate to two of Houston’s busiest freeways, Interstate 10 and U.S. Highway 290. 

The portfolio is in Houston’s Northwest Industrial submarket, which is the largest submarket in Houston by square footage and home to the largest concentration of institutional ownership in the city. 

Home to two tenants, the one-story buildings feature between 14- and 16-foot clear heights, 30 grade-level loading doors and varying amount of office space.

The HFF investment advisory team representing the seller was led by senior director Martin Hogan and real estate analyst Charles Strauss.

“Kempwood Tech Center is an exceptional opportunity for an investor to reposition older assets in one of Houston’s largest and best-performing industrial submarkets,” Hogan said.

Charles Strauss
Scott Wilkerson, an in-house broker for Garver Real Estate, handled the acquisition for the buyers.

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

About Garver Real Estate 

Garver Real Estate is a privately owned real estate investment and management company.  The company was created by C.M. Garver, a Houston real estate broker and engineer. 

Mr. Garver has owned and operated a civil construction company BRH Garver Construction and has been a real estate investor for over 45 years. 


CONTACTS:

MARTIN HOGAN
TX Lic. #0538781
HFF Senior Director
(713) 852-3500

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420


HFF closes sale of grocery-anchored retail center in suburban Baltimore, MD

Nottingham Commons, a 131,270-SF, fully leased,
core shopping center in Nottingham, MD
within the Washington-Baltimore metro area.


John Owendoff
WASHINGTON, DC –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Nottingham Commons, a 131,270-square-foot, fully leased, core shopping center in Nottingham, Maryland, within the Washington-Baltimore metro area.

HFF marketed the property on behalf of the seller, Weingarten Realty Investors.  Frankel Properties purchased the asset and was assisted in the transaction by Willard Retail. 

Completed in 2016, Nottingham Commons is anchored by MOM’s Organic Market, T.J.Maxx, DSW, Petco and Five Below. 

Additionally, the center is home to an attractive line-up of food and service tenants, including Zoës Kitchen, Nalley Fresh, Chipotle, Applebee’s, MyEyeDr., Massage Envy and AAA. 

Jordan Lex
Situated on 18.36 acres at the intersection of Campbell Boulevard at Franklin Square Drive, Nottingham Commons is in a dominant retail node just north of the Interstate 95/695 interchange. 

Within a three-mile radius of the center are more than 80,000 residents earning an average annual household income of nearly $94,000.

The HFF team representing the seller was led by managing director John Owendoff and senior director Jordan Lex.


CONTACTS:

JOHN OWENDOFF
MD Lic. #649573
HFF Managing Director
(484) 532-4200

JORDAN LEX
MD Lic. #647016
HFF Senior Director
(484) 532-4200

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420


Primior’s First Harbor Plaza Development in Santa Ana, CA Opportunity Zone to Break Ground June 26

 
First Harbor Plaza development in Santa Ana, CA
 Breaks Ground June 26
  
NEWPORT BEACH, CA, June 18, 2019 – Primior, a leading real estate development and investment management firm, is scheduled to break ground on its First Harbor Plaza development in Santa Ana on Wed., June 26, 2019.

Two major tenants are already in place for the mixed-use project, Chase Bank and Optima Salon Suites.

At the intersection of N. Harbor Blvd. and W. 1st St., First Harbor Plaza is a 40,129-sq.-ft. restaurant, retail, office and medical property located in one of Santa Ana’s busiest areas with high traffic counts of some 71,000 cars daily.

Johnney Zhang
The surrounding area has a population of just over 784,000 within five miles. A key draw of the property is its location in a recently established Opportunity Zone.

“We are very pleased to be developing one of the first properties of this type in Santa Ana under this important program,” said Primior CEO Johnney Zhang.

“The positive impact this innovative financing model will have on the local community in terms of strong economic opportunities and an enhanced quality of life has led us to seek out areas where we can make a contribution.”

The Opportunity Zone program was created by the 2017 Tax Cuts & Jobs Act to revitalize economically distressed communities through private investment as opposed to taxpayer dollars. Opportunity Zones have now been designated in all 50 U.S. states, the District of Columbia and five U.S. possessions.

To motivate participation in the program, taxpayers investing in a Qualified Opportunity Zone via an Opportunity Fund can benefit from capital gains tax incentives available exclusively through the program. Moreover, in comparison to other programs that encourage private investment in low-income areas through tax advantages, the Opportunity Zone program is less restrictive, costly and reliant upon government agencies.


First Harbor Plaza includes two structures. Building 1 encompasses some 14,400 sq. ft. in two large anchor suites and five smaller spaces on the first floor, with the same configuration on the second floor. 

Chase Bank occupies the premium, first-floor corner space in that building. Building 2 includes approximately 3,880 sq. ft. on the first floor, two suites on the second floor totaling 3,778 sq. ft. and a third-floor suite of 3,778 sq. ft. to be occupied by Optima Salon Suites.

CONTACT

Rachel Reenders
KCOMM
949-443-9300

Daum Commercial Directs Sale of $8 million, 123,754-SF Industrial Asset in Phoenix, AZ


  • Trevor McKendry
    PHOENIX, AZ – DAUM Commercial Real Estate Services has completed the sale of a 123,754 square-foot industrial building in the Southwest submarket of Phoenix, Arizona on behalf of both the buyer, Exeter Property Group, and seller, David Turner International, LLC.
 The property was purchased for $8.16 million. The building is located at 4502 W. Monterosa Street in Phoenix, Arizona.

The buyer will benefit from the property’s long-term, in-place lease to a food processing and manufacturing tenant, as well as its location within the Southwest Valley submarket, which has seen sustained rent growth over the past several years, notes Trevor McKendry, a Vice President at DAUM Commercial, who completed the sale alongside DAUM First Vice President Chris Rogers.

“The industrial sector in Phoenix has experienced strong investor capital interest as the city continues to see a tremendous amount of economic, employment, and population growth,” says McKendry.

Chris Rogers
 “Through our long-standing connections and focus in the metro-Phoenix industrial market, we were able to secure the deal with Exeter, whose Phoenix industrial presence enabled them to quickly recognize the opportunity to acquire a property of this size off market.”

The Phoenix industrial market experienced a decrease in vacancy to 7.1 percent in Quarter 1, with an uptick in new construction deliveries, and very strong activity amongst all product and tenant types, notes Rogers, citing a recent DAUM report.

 This asset benefits from a prime location that offers convenient access to major freeways including I-10, I-17, U.S. 60, 101 FWY, and the South Mountain 202, which is currently under construction.

Rogers adds: “These route options ultimately provide shorter drive times to other major markets, and are considered a demand driver for the area. The property also benefits from features that are all synonymous with the functionalities of today’s user needs.”

The asset itself is situated on a fully paved 7.2-acre site and includes an air-conditioned warehouse, six dock-high and two grade-level doors, ample parking, and a clear height of 24 feet.

 
 Industrial building
 4502 West Monterosa Street,
Phoenix, AZ
About DAUM Commercial 

DAUM Commercial Real Estate Services is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management.

Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients across the U.S. DAUM has ten offices throughout Southern California and Arizona. 


CONTACTS

Micaela Fehrenbach / Elisabeth Manville
Brower Group 
(949) 438-6262
mfehrenbach@brower-group.com