George Oliver Adapts Downtown Chandler, AZ Redevelopment in Response to COVID

The Alexander, a 112,000-SF office project, under construction in downtown Chandler, AZ, is a premier “new normal” work environment.

  

PHOENIX, AZ – In light of the COVID-19 pandemic, Phoenix-based developer George Oliver has taken quick action – making thoughtful changes to build tenant confidence and position its latest redevelopment project, The Alexander, now under construction in downtown Chandler, Arizona, as a premier “new normal” work environment.

As a company known for developing cutting-edge, wellness-focused workspaces, George Oliver’s strategic updates at The Alexander will ensure that the new 112,000-square-foot project aligns with the developer’s health-centered vision and prioritizes the amenities that most proactively support today’s most pressing office space concerns.

Curt Kremer

“Businesses today are dealing with plenty of uncertainty and stress as they’re trying to navigate what the new work environment may look like. With that in mind, making these changes to our design at The Alexander was an easy decision for us,” said George Oliver’s Managing Partner Curt Kremer.

“It gives us the power to deliver a more adaptive end product and build more confidence for our tenants as they re-enter their workplace.”

Jay Sciarani

New COVID-19-related design enhancements at The Alexander include “touchless” accessibility throughout, featuring 10-foot sliding glass entry doors, motion sensor restroom doors and fixtures, and touchless drinking fountains.

 The Alexander’s design and architecture team, led by George Oliver Design, has also upgraded the building’s main HVAC systems and elevators to optimize air quality and functionality.

 All strategic upgrades will be completed within the original development timeline, keeping the project on-track for delivery to the market by the fourth quarter of this year.

“The design and construction teams did a great job of making these changes real-time, so that we could accommodate ownership’s request to add these features to The Alexander without increasing the construction schedule.” said George Oliver Design Lead Architect Jay Sciarani.

“Seeing our designs adapt to the current environment and enhance the user’s experience is really rewarding for us.”

In addition to design changes, The Alexander’s building management guidelines were revised to incorporate more stringent cleaning and disinfecting standards, and implement signage to promote best-practice social distancing policies.

 Property manager Arcadia Management will oversee these changes, and all efforts will be supported by a full-time building concierge and on-site building engineer.

Located at 25 S. Arizona Pl., The Alexander is a unique, upscale office community located in the heart of downtown Chandler and surrounded by a culinary-inspired restaurant scene, nightlife and multifamily.

George Oliver is investing over $10 million in capital to transform The Alexander from a five-story, 1980s vintage office building into a premier, Class A modern workspace featuring a Kaleidoscope coffee and juice bar, lounge-style outdoor areas with games, library-themed common amenity, training center and boutique hospitality-inspired lobby. 

Ryan Timpani

The building’s wellness center will feature a cardio room furnished with Peloton equipment, a spacious yoga studio, spa-inspired private showers and an attached tranquil garden for post-workout decompression.

In addition to the building’s physical transformation, George Oliver has rebranded the building to The Alexander, named in honor of the city’s founder Alexander Johnathan (A.J.) Chandler.

Todd Noel

Leasing efforts for The Alexander are being led by Ryan Timpani and Todd Noel of Colliers, with suites available for pre-lease now.

For more information on the redevelopment and leasing efforts at The Alexander, please visit www.AlexanderJonathan.com.

The Alexander’s sister building, The Johnathan – also named after the city’s founder – is located on an adjacent parcel at 55 N. Arizona Pl. Renovations at The Johnathan will begin later this year, with efforts focused on delivering a similar modernized work environment.  

To learn more or to discuss new project opportunities, please visit www.georgeoliver.com.

CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

Ware Malcomb Announces Construction Completed on Two New Buildings at Mississauga Gateway Centre in Mississauga, Ontario, Canada.

Built on a 9.43-acre site, the two new five and four-storey buildings are located at 2 and 8 Prologis Boulevard and total 21,048 square meters.

Mississauga, Ontario, CANADA – Ware Malcomb, an award-winning international design firm, today announced construction is complete on two new buildings at Mississauga Gateway Centre, a Class A office complex offering both retail and office leasing opportunities in Mississauga, Ontario in Canada.

Ware Malcomb provided architecture and interior design services and Triovest Realty Advisors was the development manager for the project. 

Built on a 9.43-acre site, the two new five and four-storey buildings are located at 2 and 8 Prologis Boulevard and total 21,048 square meters.

The project was designed for Healthcare of Ontario Pension Plan (HOOPP) and the complex offers leasable build-to-suit space for office tenants.

Frank Di Roma

“Ware Malcomb has a long history with Mississauga Gateway Centre, and it is exciting to see it continue to grow as a premier destination for office and retail tenants alike,” said Frank Di Roma, Principal of Ware Malcomb’s Canada operations, including offices in Vaughan and Toronto. “This latest addition provides a striking new environment for a range of businesses.”

The buildings are conjoined by a two-storey entrance plaza that provides common areas and a coffee kiosk for tenants. 

The coffee kiosk was designed by Ware Malcomb’s interior architecture and design team. The entrance plaza also features a green roof and green wall, adding to its sustainability features. Curtain wall and aluminum composite panels were used on the exterior. The buildings have achieved LEED® CS Gold Certification.

In 2014, Ware Malcomb provided architectural design services for the first buildings at Mississauga Gateway Centre: a five-storey, 13,935 square meter office building and a separate single-storey, 4,181 square meter office building. 

Since then the complex has grown into a premier business park with seven buildings totaling approximately 59,458 square meters of Class A office space.

The General Contractor for the project was Ledcor Construction Limited.

CONTACTS:

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

  

Maureen Bissonnette

Associate Principal, Marketing

 949.660.9128

 mbissonnette@waremalcomb.com

triovest.com 

waremalcomb.com

JLL selected by BRP Companies to arrange joint venture equity for $286 million Archer Towers Apartments Project in Queens, Jamaica, NY

The planned 24-story, 540,000-sf Archer Towers is located at the corner of Archer Avenue and Guy R. Brewer Boulevard in Queens, Jamaica, NY

Rob Hinckley 

NEW YORK, NY, May 15, 2020 — JLL Capital Markets was selected by BRP Companies to arrange joint venture equity financing for the construction of the $286 million Archer Towers project.

The residential development is located at 163-05 Archer Avenue in the rapidly evolving Jamaica submarket of Queens, N.Y.

 The 24-story Archer Towers is located at the corner of Archer Avenue and Guy R. Brewer Boulevard.

The 540,000-square-foot project will offer a total of 605 residential units, including 424 market-rate apartments and 181 mixed-income units.

The development includes approximately 20,000 square feet of amenities that include a movie screening room, a lounge, a children’s playroom, bicycle storage, a pet spa, attended parking, a fully equipped rooftop and finished outdoor space, a yoga studio, a basketball court, a pickleball court, a landscaped rear yard and a golf simulator.

 Jeff Julien

 The Archer Towers project is located within an opportunity zone, providing significant post-tax savings over a 10-year hold for a qualified opportunity fund investor.

 The 10-year investment horizon will allow for the submarket to further develop, resulting in significant rent appreciation and value capture on reversion. 

It will also be the beneficiary of a 35-year tax abatement under the Affordable New York program.

Archer Towers is positioned adjacent to Jamaica Avenue’s retail corridor with national brands such as Home Depot, Dollar Tree, Blink Fitness and Old Navy within walking distance.

 It is located within a three-minute walk of the Jamaica Ave/Parsons Ave subway stop (E, J, Z) and a short 10-minute walk to the Sutphin Boulevard-Archer Avenue-JFK Subway Station and Jamaica LIRR.

Andrew Scandalios 

This provides residents express access to employment hubs throughout Queens, as well as an approximate 20-minute LIRR ride to Penn Station and Atlantic Terminal.

 BRP has completed demolition of the existing buildings on the site, has 100% of construction drawings and can execute a Guaranteed Maximum Price construction contract imminently.

The firm will begin construction of Archer Towers immediately upon closing of the joint venture equity financing and securing debt financing with their capital partner.

 It is expected that an investor will also consider participating in the second phase of Archer Towers.

Roland Merchant

This future addition will add 432 units to the overall project, including 130 additional affordable-housing units and further expanding the commanding presence of the development along Archer Avenue. Phase two is expected to begin construction in the summer of 2021.

 The JLL Capital Markets professionals handling the joint venture equity raise for BRP are being led by Rob Hinckley and Jeff Julien.

The JLL team also includes senior team members Andrew Scandalios and Roland Merchant; core team members Stephen Palmese and Steven Rutman; and support associates Nicco Lupo and Rob Root.

 “Archer Towers represents the largest shovel-ready residential rental construction site in New York City,” said Hinckley.

Stephen Palmese 

 “We are excited to discuss this investment with opportunity zone and traditional investors alike.

"Over the past several years, BRP has painstakingly designed, value-engineered and removed risk from this development, which will provide much-needed housing for city-dwellers.

"This is on the heels of BRP’s nearby highly-anticipated 669-unit, The Crossing at Jamaica Station, a public-private partnership development that is delivering soon.

"The multi-phase Archer Tower residential development, which includes a large portion of needed mixed-income regulated housing, is deemed ‘essential,’ allowing for the partnership to create much needed near-term jobs as construction will begin immediately, even within current market conditions.”

Steven Rutman

 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.

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 BRP Companies

BRP Companies is a New York-based real estate firm that is at the forefront of mixed-use development and acquisition of urban, multi-family properties.

Nicco Lupo

The firm offers a full complement of development, acquisition, construction, property, and investment management.

With an experienced staff of 70, a track record of over 2.5 million square feet of completed real estate projects and over 9.5 million square feet currently in development, BRP is uniquely positioned to meet the demands of urban housing consumers.

The firm is an innovator in developing mixed-use, mixed-income, “walkable" urban housing with high-quality, and energy efficient properties throughout the city of New York and beyond.

Rob Root

CONTACTS:

George Shea, Mark Faris

Company: Shea Communications

Phone: +1 212 627 5766

Email: mfaris@sheacommunications.com

Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.

brpcompanies.com

Thor Equities Group Announces Sale Of 905 West Fulton Market in Chicago, IL To Deka Immobilien of Germany

905 West Fulton Market spans nearly 98,000 square feet over five stories and a basement on the corner of West Fulton Market and North Peoria Street in the heart of Fulton Market, Chicago, IL.

Tom Sitz

CHICAGO, IL (May 15, 2020) – Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the sale of 905 W. Fulton Market in an off-market transaction to Deka Immobilien.

On the corner of West Fulton Market and North Peoria Street in the heart of Fulton Market, 905 W. Fulton Market spans nearly 98,000 square feet over five stories and a basement.

Featuring a historic façade characteristic of the neighborhood and modern glass design, 905 W. Fulton offers contiguous floor plans, a landscaped terrace and green roof.

The property is anchored by Mondelez International’s global headquarters, which will occupy over 80,000 square feet of office space in the new building on floors two through five, as well as over 6,500 square feet of retail space on the ground floor.

Cody Hundertmark

 Thor recently announced 8,000 square feet of the ground floor was recently leased to DineAmic Hospitality, one of Chicago’s most eminent creative hospitality and events companies. Approximately 2,600 square feet on the ground floor remains available.

“Our vision for 905 W. Fulton Market was to develop a property with rich character representative of the neighborhood’s past and attract a world-class tenant to bolster the district's future as a premier live-work-play destination,” said Joe Sitt, chairman of Thor Equities.

“Fulton Market continues to gain momentum and the sale of this asset demonstrates the strength of the community, which we are very proud to be a part of.”

The Cushman & Wakefield capital markets team of Tom Sitz, Cody Hundertmark, David Knapp, Josh McGee, Paul Lundstedt and Dan Deuter was involved in this off-market transaction. Thor Equities was not represented by a broker. Colliers International was also involved in this transaction.

Driss Oualkadi

“In this current environment, it is essential to identify and secure opportunities in order to achieve stable and sustainable growth for our North America Fund. Such an opportunity is given with this long-term leased and high-quality property,” said Driss Oualkadi, president of Deka.

“The Fulton Market has been the subject of a significant urban renewal and is now recognized as one of Chicago’s most upscale and exciting neighborhoods.”

“We are pleased to have been involved in the sale of this extraordinary Fulton Market development involving two world-class organizations,” said Tom Sitz, executive director of Cushman & Wakefield.

 David Knapp

“Congratulations are in order to Thor Equities Group for delivering this premier building to the market and to Deka on its acquisition of one of Chicago’s newest, best-in-class assets.”

Thor Equities Group recently announced a lease with Aspen Dental at nearby 800 W. Fulton Market, a 19-story mixed-use development with over 400,000 square feet of office and retail space, as well as a range of public amenities.

Designed by Skidmore, Owings & Merrill, 800 W. Fulton Market is situated at the gateway to Fulton Market and was planned to meet the highest sustainability standards, with a range of smart building technologies.

Thor’s portfolio also includes nearby 942 W. Fulton Market, 1003 W. Fulton Market and 1229 W. Randolph Street.

Josh McGee

About Thor Equities:

Thor Equities is a leader in the development, leasing and management of office, industrial, residential, hotel and mixed-use assets in premier urban locations worldwide.

The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet.

Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet.

Paul Lundstedt 

 Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge.

About Deka:

DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group.

Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 313 billion (as at 30/09/2019) and around 4.8 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany.

Dan Deuter

 It provides retail and institutional clients access to a wide range of investment products and services. 

DekaBank is firmly anchored in the Sparkassen-Finanzgruppe and designs its portfolio of products and services to meet the requirements of its shareholders and sales partners in the securities business.

The Deka Group’s global real estate expertise is pooled in its Real Estate Division.

 The two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, manage and service around EUR 40 billion in real estate assets (as at 31/12/2019).

CONTACTS:

Bailey Webb, bailey.webb@cushwake.com

Patty Cronin, pcronin@taylorjohnson.com

www.cushmanwakefield.com or

follow @CushWake on Twitter.

www.thorequities.com.