Anthony “The Mooch” Scaramucci Headlines NAIOP South Florida’s Signature Speaker Series Oct. 23

Anthony Scaramucci

FORT LAUDERDALE, FL, July 31, 2019 – NAIOP South Florida, the commercial real estate development association, presents its annual Signature Speaker Series on Wednesday, October 23 at 5 p.m. at The Ritz-Carlton Fort Lauderdale, located at 1 N. Fort Lauderdale Beach Blvd.

Headlining the event this year is former White House Communications Director and founder of SkyBridge Capital, Anthony Scaramucci, commonly known as “The Mooch.”

“NAIOP South Florida set out this year to find a topical and relevant speaker to shed light on the intersection of business, economic policy and national politics," said NAIOP South Florida Board of Directors President Darcie Lunsford, executive vice president of Butters Realty & Management.

"Anthony Scaramucci was the perfect fit and we are very excited to announce him as our third annual Signature Speaker.

Darcie Lunsford

 “One of NAIOP’s foremost goals is to bring information, insight, and actionable intelligence to our members. Through our Signature Speaker Series, we provide a unique and high-level depth of knowledge that is not otherwise available in the local marketplace. We look forward to this event every year.”

Early bird tickets for the Signature Speaker Series are $75 for NAIOP members and $100 for non-members. Seating is limited. Tickets are available at https://www.naiopsfl.org/Events.

 For more information, contact 954-990-5116 or naiop.info@naiopsfl.org.

Contact:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

naiop.org.

naiopsfl.org.

JLL announces $485 million sale of 5 retail assets in Northern Virginia and Maryland

Portfolio of five core, grocery-anchored retail properties totaling 797,984 square feet in Northern Virginia and Maryland

MIAMI, FL – JLL announces that it has closed the $485 million sale of a portfolio of five core, grocery-anchored retail properties totaling 797,984 square feet in Northern Virginia and Maryland.

Daniel Finkle

JLL marketed the property on behalf of the seller.

WashREIT. First Washington Realty purchased the assets. 

The portfolio, which is 97.7% leased, comprises two Alexandria, Virginia, centers, and three Maryland centers.

 The Virginina centers are Bradlee Shopping Center and Shoppes at Foxchase, and the Maryland centers are Gateway Overlook in Columbia, Olney Village Center in Olney and Wheaton Park Shopping Center in Wheaton. 

The properties house a variety of grocery anchors, including Trader Joe's, Aldi, Harris Teeter, Giant, The Fresh Market and H Mart, in addition to national retailers such as Michaels, Walgreens, T.J.Maxx, Pier 1 Imports, HomeGoods, Gold's Gym and Best Buy. 

Stephen Conley

The properties all reside in affluent suburbs within the metro Washington, D.C. region where annual household incomes within a three-mile radius average $126,200 and the population within the same range is more than 156,325 residents.

The JLL Capital Markets team that represented the seller included Senior Managing Director and Ho-Head of JLL's Capital Markets retail practice Daniel Finkle, executive managing director Stephen Conley, Managing Ddirector John Owendoff, Director Jordan Lex and Senior Associate Kim Flores along with JLL's M&A and Corporate Advisory team.

“This portfolio is a collection of well-operated and successful retail centers in the D.C. Metro,” Finkle said. “The infill locations in affluent submarkets coupled with the solid tenant rosters have been key components of the portfolio’s past performance and its future success.”

Kim Flores

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

John Owendorff

About WashREIT

WashREIT (NYSE: WRE) owns and operates uniquely positioned real estate assets in the Washington, D.C. market. 

Backed by decades of experience, expertise and ambition, WashREIT creates value by transforming insights into strategy and strategy into action.

 As of July 26, 2019, the company’s portfolio of 49 properties includes approximately five million square feet of commercial space and 6,658 multifamily apartment units. 

WashREIT’s shares trade on the NYSE and the company currently has an enterprise value of more than $3 billion. 

With a track record of driving returns and delivering satisfaction, WashREIT is a trusted authority in one of the nation’s most competitive real estate markets. 

Learn more at http://www.washreit.com.

Jordan Lex

About First Washington Realty:

First Washington Realty (FWR) is a fully integrated, national real estate investment and management firm. 

FWR specializes in the ownership of convenience, necessity and experience-oriented retail real estate. 

FWR currently owns 97 shopping centers with a value of over $4.9 billion located in 22 states and the District of Columbia. 

FWR’s centers contain approximately 12.9 million square feet with over 2,400 tenants. 

For further information, visit https://www.firstwash.com.

Contacts: 

Daniel Finkle, JLL Senior Managing Director

Phone: +1 305 448 1333

Email: danny.finkle@am.jll.com

 Stephen C. Conley, JLL Executive Managing Director

Maryland License No:  47647

Virginia License No:  0225 123295

Phone: +1 202 533 2500

Email: stephen.conley@am.jll.com

 Kimberly Steele, JLL Digital Content/PR Specialist

Phone: +1 713 852 3420

Email: kimberly.steele@am.jll.com

 jll.com.

KW Property Management & Consulting Names Zuly Maribona Senior Vice President Overseeing Key Florida Markets

Zuly Maribona

MIAMI, FL – KW Property Management & Consulting (KWPMC), a premier residential property management company that recently celebrated its 15th anniversary, has promoted Zuly Maribona to Senior Vice President.

Based in Southwest Florida, Maribona has been instrumental to KWPMC’s growth in the region for the past 11 years.

Maribona was previously Regional Vice President overseeing the company’s portfolio of nearly 20,000 units at luxury lifestyle communities and high-rise condominium buildings in Collier, Lee and Hendry counties.

 In her new role, she is also helping lead expansion efforts in Orlando, Tampa and Jacksonville. Maribona will work closely with KWPMC COO Katalina Cruz to support the teams in those markets.

Katalina Cruz

KWPMC’s vast Southwest Florida portfolio includes Paseo in Fort Myers and Admiralty Point, Tiburon Estates and VeronaWalk in Naples.

Maribona also oversees the KWPMC-managed Mountain Falls, a luxury motorcoach resort in Lake Toxaway, N.C.

“Zuly has been an exemplary member of our team since the early years of the company,” Cruz said. “KWPMC’s incredible growth in Southwest Florida – while maintaining the unparalleled level of hands-on service delivered to our communities – would not be possible without her. We are confident she will help replicate our success elsewhere in Florida.”

Maribona first joined KWPMC as a Community Association Manager in 2008, eventually earning a promotion to Vice President. She is an alumna of Miami Dade College and has a Florida Mortgage Broker’s License.

“I am excited to take on these additional responsibilities and grateful to KWPMC’s leadership for the opportunity,” Maribona said. “Our core values and operating mission to provide the highest quality management services have not changed since the beginning of the company. It is easy to be loyal to a company that is loyal to its people.”

In addition to holding active LCAM and CMCA certifications, Maribona recently completed the University of Miami’s Green Professional Building Skills Training (GRPO) program for professionals who incorporate sustainable and resilient practices into the buildings they oversee. The university offers the program in partnership with the Urban Green Council.

Contact:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.rkwresidential.com.

www.kwpmc.com.

RKW RESIDENTIAL Adds Over 1,800 Units to Portfolio in Carolinas and Florida

Marcie Williams

Charlotte, NC and Miami, FL — RKW RESIDENTIAL, a leading multifamily property management company, is reaching new heights in 2019 with prominent apartment community assignments throughout the Carolinas and Florida.

The company was recently awarded eight prime communities totaling more than 1,800 units in the two pivotal markets.

Michelle O’Brien 

In conjunction with the aggressive growth, RKW hired industry veteran Cesar Rosas as Director of Facilities and promoted Michelle O’Brien to Regional Vice President.

Rosas brings nearly two decades of multifamily experience to the company. Based in Charlotte, O’Brien joined RKW as Regional Manager in September 2018.

“We have been fortunate to continue to work with best-in-class developers and operators and oversee their premier communities throughout the Southeast,” said Marcie Williams, president of RKW.

Cesar Rosas 

“That is a testament to our dedicated people at RKW. Cesar and Michelle are tremendous examples of the importance of having passionate and talented people in key positions.”

The new Carolinas assignments include:

·         Terwilliger Pappas’ brand-new Solis Keltonwood at Berewick, a 230-unit community with one, two and three-bedroom apartments in Charlotte

·         Trilogy Cary, a 205-unit newly completed community in Cary, N.C.

·         Crabtree Lakeside, a brand-new 221-unit community in Raleigh

·         Draper Place, a boutique apartment building completed in 2018 in Charlotte’s Elizabeth neighborhood.

Monarc at Met, a luxury apartment tower with 462 units that is part of the transformative Met Miami development within the city’s Central Business District.

In downtown Miami, RKW took over management and leasing at Monarc at Met, a luxury apartment tower with 462 units that is part of the transformative Met Miami development within the city’s Central Business District.

Also in Miami, RKW added Soleste Twenty2, a brand-new 338-unit community.

On the west coast of Florida, RKW picked up two prime communities: the 180-unit DeSota in downtown Sarasota and Seaside Villas, a 121-unit community in Gulfport.

Contact:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.rkwresidential.com.

Longfellow Acquires Palo Alto Technology Center in Silicon Valley from KBS for $205 Million

Palo Alto Technology Center (PATC) entrance, Silicon Valley, CA

SILICON VALLEY, CA,  July 29, 2019 -- Longfellow Real Estate Partners, which invests in life science, lab and innovation space across the U.S., announced today the acquisition of the Palo Alto Technology Center (PATC) from KBS, one of the largest owners of premier commercial real estate in the nation, for $205 million. 

Palo Alto Technology Center (PATC) 

1800-1850 Embarcadero Road and 2445-2465 Faber Place 

The PATC purchase is Longfellow’s fifth West Coast acquisition since late 2018. KBS originally purchased the property in 2012 on behalf of a sovereign wealth fund. 

Adam Sichol

Located just three miles from Stanford University and a short distance from the Stanford Research Park, PATC’s ten buildings total 259,586 square feet.

The campus is about 99 percent leased. Tenants include Stanford, Bill.com, Aurora Innovation and Eversight.  

The campus’ specific addresses -- 1800-1850 Embarcadero Road and 2445-2465 Faber Place -- are nearly adjacent to Interstate 101 and easily accessible for commuters approaching from the North, South and East Bay via the Dumbarton Bridge (Route 84).

Brent Carroll

 PATC is an eight-minute drive from the Palo Alto Caltrain stop (shuttle service offered on site).

“We’re excited to add Palo Alto Tech Center to Longfellow’s San Francisco Bay Area portfolio and expand our presence in one of the nation’s most dynamic science and innovation clusters,” says Longfellow Managing Partner Adam Sichol. 

Located at the focal point of the modern innovation economy, Palo Alto city officials recently announced that they are poised to make the 2015 cap on new office developments in the University Avenue, California Avenue and El Camino Corridors permanent.

Nick Frasco

The cap limits annual office deliveries to 50,000 square feet per year, which if made permanent would guarantee almost no new competitive products to the Palo Alto Technology Center in the coming years. 

“There is no question that Silicon Valley is one of the premier destinations for office tenants,” says Brent Carroll, senior vice president for KBS and asset manager of the property.

“Additionally, the barriers-to-entry in this market are very strong on all fronts – physical, political and financial. We are sure the new owners will enjoy the same success we’ve seen in the area.”

Kurt Chong

The acquisition increases Longfellow’s portfolio to over two million square feet on the West Coast, and includes Bayshore Technology Park and PATC in the San Francisco Bay Area as well as the Inspire, Roselle and Sycamore campuses in San Diego.

Longfellow’s total portfolio includes over 4.7 million square feet of life science and tech space owned and under management in innovation hubs such as Greater Boston, Philadelphia and North Carolina’s Research Triangle region. 

Longfellow plans to convert some of the campus to life science uses and complete capital improvements including facade enhancements, landscaping, and signage/wayfinding.

In addition, Longfellow will implement its proprietary services and amenities package, Elevate, which aims to redefine workplaces with lifestyle perks. 

Paul Nelson

“Palo Alto Tech Center’s proximity to Stanford University and the world-renowned Stanford Research Park, along with its premier tenancy and desirable physical attributes make it an excellent candidate for Longfellow’s signature lab and tech office repositioning,” says Nick Frasco, Longfellow’s West Coast Managing Director.  

Greg Cioth, Paul Nelson, Nate Jones and Kurt Chong of Eastdil Secured represented KBS in the deal. Longfellow represented itself.  

 

Nate Jones

More at www.lfrep.com and on Twitter (@LongfellowREP) and Instagram.  

 Longfellow Press Contact:

For more information, please reply to this note or send an email to marketing@lfrep.com.  

KBS Media Contacts:

Lisa James or Jenn Quader

Brower Group

(949) 438-6262

ljames@brower-group.com

Ginny Walker

Public Relations Manager

949-417-6535

gwalker@kbs.com

KBSDIRECT.com,

KBS.com.

Phoenix hits 24th straight quarter of positive net office space absorption

 Chris Latvaaho

PHOENIX, AZ – The Phoenix office market has achieved 24 straight quarters – or six straight years – of positive net office space absorption, according to the JLL Q2 Phoenix Office Insight report.

At the same time, vacancy has decreased by 11 basis points, marking its lowest level in almost 12 years.

According to JLL, the Phoenix office market ended the second quarter with 2.17 million square feet of year-to-date net absorption, a rate that exceeds the last peak in the market, which occurred in 2016.

The overall vacancy rate sits at 17.8 percent and average asking rents have reached $27.18 per-square-foot, a notable 22 percent increase year-over-year.

There is currently 1.9 million square feet of active new office construction underway. This adds to 546,000 square feet of new space delivered during the second quarter, including two Allred buildings totaling 270,000 square feet within the Price Road Corridor in Chandler and the 123,020-square-foot Chaparral III building on Pima Road in Scottsdale.

123,020-SF Chaparral III building on Pima Road in Scottsdale, AZ

According to projections, however, this still falls short of meeting the demands of prospective tenants who collectively are looking for 3.2 million square feet of space and already have signed one million square feet in leases that are expected to occupy by year end.

“The Phoenix office market continues to have unprecedented leasing activity, making it one of the top in the nation for positive net absorption,” said JLL Senior Vice President Chris Latvaaho.

“The demand for space continues to outpace our existing supply and includes a growing list of premier, out-of-state companies who have planted a corporate flag here in the Valley.”

Companies establishing a new Valley location this year alone include Benchmark Electronics from Texas and Bridgepoint Education from California.

Allred buildings totaling 270,000 SF within the Price Road Corridor in Chandler, AZ 

Demand among organizations like these keep REITS, institutional investors, private and foreign capital interested and active in the metro Phoenix market, particularly within the Camelback Corridor, Downtown/Midtown and Southeast Valley submarkets.

Together, this activity represented more than $271 million in transactions during the second quarter, a 36 percent increase over the first quarter.

To access JLL research for Phoenix and across the U.S., visit the company’s research page at https://www.us.jll.com/en/trends-and-insights#research.

For more news, videos and research resources on JLL, please visit www.jll.com.

Contact: 

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com