Thursday, January 23, 2020

Seefried Industrial Properties and Clarion Partners to Develop Three-Building Spec Industrial Project in East Tracy, CA (San Joaquin County)


 
Jason Quintel
ATLANTA, GA -- Seefried Industrial Properties, as development partner for Clarion Partners, LLC have recently purchased a 76-acre land site that paves the way for a new multi-warehouse spec development situated within the Northeast Area Specific Plan in Tracy, CA. 

Located at the northeast corner of Grant Line Road and Chrisman Road, New Project will total 1,130,000 square feet of office and warehouse space in three buildings consisting of 260,000 square feet, 517,000 square feet and 353,000 square feet, respectively.

Together, the project will offer tenants the opportunity to occupy space ranging from 18,000 to 1,130,000 square feet. 

Buildings will feature tilt-up construction, have clear heights ranging from 32 to 36 feet, 185’ truck courts, 339 trailer spaces combined, an ESFR sprinkler system and ample parking.

Mike Goldstein
“Finding quality development property in the Central Valley has become more and more difficult over the years," said Jason Quintel, Senior Vice President of Seefried Industrial Properties .

"Finding a site this well located was very exciting. We would not have gotten to this point if it had not been for the combined efforts of our consultants, the land seller, and the City of Tracy.

"We now look forward to bringing this quality project out of the ground and hope we can help fill the tenant demand that continues to grow in Tracy,”.

John Steinbuch
Construction is set to begin this June and anticipated for completion the following June of 2021.

HPA has been engaged as architect; K&W is the civil engineer. 

The Colliers International team, led by Mike Goldstein and John Steinbuch, will lead the leasing/marketing efforts for the new project. 

About Seefried Properties:

Seefried Properties was founded in 1984 by Ferdinand Seefried and is still 100 percent privately owned today.  The firm focuses on industrial development in core markets and build-to-suits with corporate tenants and users in first and second-tier markets. 

About Clarion Partners:

Clarion Partners, LLC, an SEC registered investment advisor with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for over 30 years.  Headquartered in New York, the firm has offices in major markets throughout the U.S. and Europe.  

  
CONTACTS:

Mr. Jason Quintel
Senior Vice President
Seefried Industrial Properties
JasonQuintel@SeefriedProperties.com             
+1 (602) 300-3648

Barb Bennett
Marketing Coordinator
Seefried Industrial Properties
3333 Riverwood Parkway SE, Suite 200
Atlanta, Georgia 30339
Office:    (770) 702-8207
Mobile:  (520) 661-9641




Seefried and MDH Partners Claim 20 Acres near Orlando, FL (Orange County Submarket).


Rendering of planned Narcoossee Logistics Center within the Orlando International Airport/Lake Nona market

ORLANDO, FL -- Seefried Industrial Properties, as a development partner with MDH Partners, LLC, have recently acquired a 20-acre land site that paves the way for Narcoossee Logistics Center, a new, Class A two-building industrial distribution center within the Orlando International Airport/Lake Nona market. 

  The endeavor confirms the seventh building Seefried has developed

within the Orlando market and will be designed to provide retail, flex-

space and light distribution.


Paul Seefried
Strategically located just north of SR 528/Narcoossee Road Interchange, the project will total 280,000 square feet in two buildings, the first 160,000 square feet and the second 120,000 square feet.

Buildings at Narcoossee Logistics Center will feature 32-foot clear heights, 130’ concrete truck courts, ample parking, an ESFR sprinkler system and a combined total of 71 dock high doors.  

The site offers immediate access to Narcoossee Road and is minutes from Orlando International Airport and SR 528/SR 417, offering proximity to a population of 2.3 million within a 20-minute drive.

“We are excited to deliver a Class A project to the Orlando market.  This acquisition represents an opportunity to quickly develop a two-building project that will offer tenants the opportunity to occupy space ranging from 20,000 to 160,000 square feet.


 Lee Morris 
 Additionally, it’s close proximity to Orlando International Airport and Lake Nona make Narcoossee Logistics Center an ideal location for industrial distribution,” says Paul Seefried, Senior Vice President of Seefried Industrial Properties.

MacGregor Associates is the project architect; Kimley Horn is the civil engineer.  Lee Morris with Colliers International has been recognized as the executive leasing broker for the project, which is slated for completion during the fourth quarter of 2020.

 CONTACTS:

Mr. Paul Seefried
Senior Vice President – Florida Region                                                                           
Seefried Industrial Properties
+1 404 232 0440


Barb Bennett
Marketing Coordinator
Seefried Industrial Properties
3333 Riverwood Parkway SE, Suite 200
Atlanta, Georgia 30339
Office:    (770) 702-8207
Mobile:  (520) 661-9641


Wednesday, January 22, 2020

JLL arranges $20 million refinancing for Sam Houston Crossing II in Houston, TX


Sam Houston Crossing II office property, northwest Houston, TX

HOUSTON, TX – JLL Capital Markets announced it has arranged a $20 million refinancing for Sam Houston Crossing II, a 160,000-square-foot office property in northwest Houston, Texas.

JLL worked on behalf of the borrower, Buchanan Street Partners, to secure the five-year, 4.0% loan with East West Bank.

Sam Houston Crossing II is a three-story office building fully leased to three tenants.  

 Laura Sellingsloh
Located at 10344 Sam Houston Park Drive, the property is positioned on 8.5 acres along the Sam Houston Tollway (Beltway 8) providing connectivity to all of Houston’s major freeways, including 290 and Interstates 10, 45 and 69. 

The JLL Capital Markets team representing the borrower was led by Senior Vice President John Ream and Associate Laura Sellingsloh.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

John Ream

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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



Contact:

 Kristen Murphy
 JLL Senior Manager
 Public Relations
Phone: +1 617 848 1572


JLL arranges $57.58 million loan for extended-stay hotel in Chicago


Home2Suites by Hilton Chicago River North

CHICAGO, IL – JLL Capital Markets announced it has arranged a $57.58 million refinancing for Home2Suites by Hilton Chicago River North, a newly constructed, 206-suite, extended-stay hotel in Chicago’s downtown River North neighborhood.


Nicole Aguiar 

JLL worked on behalf of the borrower, Akara Partners, to place the floating-rate loan with a global investment management firm. Loan proceeds will be used to refinance the construction loan.

 Keith Largay
Home2Suites by Hilton Chicago River North opened its doors in February 2019.

 The 17-story, pet-friendly hotel features a contemporary design, flexible guest room configurations and a concrete and glass exterior with floor-to-ceiling windows. 

Guest amenities include a fitness center, business center, outdoor terrace with fire pit, free breakfast, meeting space with teleconferencing capabilities, and a ground-floor restaurant. 

Situated in the heart of River North at 110 West Huron Street, the Home2Suites is between Michigan Avenue, Chicago’s largest shopping district, and the Loop, the downtown financial district. 


Jeff Bucaro
The hotel is surrounded by 146 million square feet of office space and within walking distance to the new, $100-million Chicago Riverwalk. 

Additionally, the hotel is proximate to major Chicago attractions, including Navy Pier, Millennium Park, the theater district, and the United Center.

The JLL Capital Markets team was led by Keith Largay, Jeff Bucaro, Nicole Aguiar and Brian Walsh.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 
Brian Walsh

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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


About Akara Partners:

Akara Partners is a data-driven direct real estate investment, development and operating platform that employs opportunistic investment strategies to generate superior risk-adjusted returns. 

Akara was founded in 2013 to capitalize on investment opportunities across the real estate value chain. 


Contact: 

Kimberly Steele
JLL Senior Associate
Public Relations
Phone: +1 713 852-3420

Tuesday, January 21, 2020

Island Hospitality Management Announces Promotions



Gregg Forde
WEST PALM BEACH, FL —Island Hospitality Management, one of the nation’s largest hotel management companies, it has promoted Gregg Forde to executive vice president and chief operating officer and Roger Pollak to executive vice president and chief financial officer. 

“With a combined 47 years of hospitality experience, including 42 years with Island Hospitality Management and its predecessor companies, I cannot think of two more deserving people than Gregg and Roger to take on these expanded roles within the company,” said Jeffrey H. Fisher, Island Hospitality Management.

Roger Pollak
“With a combined 47 years of hospitality experience, including 42 years with Island Hospitality Island Hospitality Management, these promotions prepare our platform for what we hope to be a very active 2020," Fisher said. 

"Our current portfolio includes 172 hotels, and our goal is to continue to develop new relationships around the country and expand our platform in 2020 and beyond. 

"We are confident that Gregg and Roger will continue to provide the same exemplary leadership and direction they always have as we pursue our aggressive growth goals.”

Forde joined Island Hospitality Management’s predecessor in 2003 after beginning his hospitality career with Marriott International in 1998.


Jeffrey H. Fisher
Pollak joined Island Hospitality Management’s predecessor as controller in 1995 and has held progressive positions within the company, including director of financial reporting and controller, as well as senior vice president-accounting.








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


Hospitality Ventures Management Group (HVMG) Names Andrew J. Pace Senior Vice-President of Business Development


  
Andrew J. Pace

ATLANTA, GA — Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced it named Andrew J. Pace senior vice-president of business development. 

 In the role, he will be responsible for assisting with growing and supporting HVMG’s third-party management and new development efforts.

Mary Beth Cutshall

            “Having worked with Andrew in the past, I am well aware of his unique abilities to source and expand growth opportunities, which is consistent with HVMG’s growth targets as we continue to expand our portfolio of owned and operated hotels throughout the United States,” said Mary Beth Cutshall, executive vice-president and chief development officer, HVMG.

  “With more than two decades of experience in all aspects of the industry, from creating and launching a hotel brand to working with hotel owners on management opportunities to overseeing ground-up hotel development, Andrew is the perfect candidate to help HVMG achieve its robust growth goals.”

            Prior to joining HVMG, Pace was senior vice-president at Strand Hospitality, where he oversaw the strategic growth of the company’s 36 hotel portfolio. 


 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


RPG Adds Office Space to its Expanding Ownership of North San Diego, CA Mixed-Use Property

RPG previously acquired the 39,000-SF retail
 and restaurant portionof Pacific Station in 2018.
ENCINITAS, CA – RPG, a San Diego-based owner, operator, and developer of high-quality commercial real estate, has expanded its portfolio of creative and value-add assets in Northern San Diego County with the acquisition of an office building at Pacific Station, 687 South Coast Highway 101 in Encinitas, California where the firm currently owns a large retail and restaurant section of the 100,000 square-foot mixed use center.

RPG previously acquired the 39,000 square-foot retail and restaurant portion of Pacific Station in 2018.  The company now owns all the commercial space in the mixed-use office, retail and residential center.

Adam Robinson
“The acquisition of this office building is directly in line with our ongoing strategy of owning well-located, modern, creative, and value-add assets,” says Adam Robinson, Founder and President of RPG.

“Because the office space is adjacent to additional assets already owned by our firm, including our new company headquarters, we are aware of the strengths and appeal of the location.”

Peter Curry at Cushman & Wakefield represented RAF Pacifica Group as the broker in the $5.9 million acquisition of the 9,733 square-foot property.

In 2019, RPG transformed 4,010 square feet of restaurant space in Pacific Station into an innovative coworking space that also serves as the firm’s new headquarters. Tenants at the new coworking location have full access to RPG’s hospitality-like amenities. 

“We live in Encinitas and we are here to stay,” says Robinson. “By establishing our headquarters right in the heart of this city we love, we are demonstrating our belief in the strength and health of the market and we will continue to invest in the community by acquiring well-positioned assets such as the office building at Pacific Station.”

The office is ideally situated in a walkable, community-focused environment with access to high-quality retail and dining options within Pacific Station and the surrounding downtown Encinitas offerings.

Peter Curry
According to Robinson, four of the five office spaces within the newly acquired building are currently leased to health care, real estate and technology tenants. RPG plans to implement improvements to the offices, as well as lease the last available square-footage in the building.

“RPG’s growing portfolio of office and mixed-use assets in the North San Diego market are performing well because the area continues to attract people who want to live, work and play in an inspiring environment,” says Robinson.

Contacts:

Lisa James / Lexi Astfalk
Brower Group
(949) 438-6262


Stos Partners Acquires Mission Critical San Diego, CA Parking Site for $26.4 Million


Stos Partners has acquired a 5.8-acre mission critical parking lot land site near the Port of San Diego, CA for $26.47 million.

SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment and management firm, in conjunction with an institutional partner, has acquired a 5.8-acre parking lot land site near the Port of San Diego for $26.47 million from a private entity.

With this recent transaction, Stos has completed nine acquisitions this year totaling $81.5 million and sold four assets totaling $48.36 million, bringing the firm’s total transaction volume to more than $130 million in Southern California in 2019. 

“This acquisition is directly in line with our overarching investment strategy, which is to identify and acquire unique, high-quality assets in irreplaceable locations,” says CJ Stos, Principal of Stos Partners. 

CJ Stos
“As the only significant parking lot in the area, we immediately recognized the potential of this one-of-a-kind site as mission critical to the many defense contractors in the vicinity who service Navy ships.”

Located directly under the Coronado Bridge at 2210 - 2310 Main Street in San Diego, the parking lot is currently 100% leased to a defense contractor.

This acquisition comes on the heels of Stos Partners’ recent addition of 5816 Dryden Place, a 22,156 square-foot multi-tenant R&D/office property in Carlsbad, California, to its portfolio. The firm will implement cosmetic improvements and building upgrades to attract small to mid-sized tenants to the property.    
    
According to Jason Richards, a Partner at Stos Partners, the firm plans to leverage its deep experience as one of the most active buyers of industrial, flex, and office product in Southern California and expand its focus to several markets throughout the Southwest U.S.

“Looking ahead, we will continue to build upon our proven strategy of identifying local and national trends, strengthening our existing portfolio by drawing on our relationships, reputation, and expertise in these property types,” says Richards.

Jason Richards
Prominent trends include a growing need for last-mile and cold storage facilities. The U.S. cold storage market size is expected to reach $19.69billion by 2025, due to rising consumer demand for healthy food and increased participation from the private sector, Richards notes.

“Grocers and other industries are adopting Amazon’s model and purchasing individual last-mile locations for cold storage,” continues Richards. “Stos Partners recognized this, successfully completing two cold storage transactions in 2019, and we expect the trend to continue well into 2020 and beyond.”

Since its inception, Stos Partners has acquired properties with a total acquisition value of more than $530 million, including properties in California and Texas.


Contacts:

Katie Haga / Lisa James
(949) 438-6262