Financing secured for Intermodal Commerce Park industrial development in Haslet, TX

Rendering of planned  1.4 million SF Intermodal Commerce Park in Haslet, TX

DALLAS, TX – JLL announced it has arranged equity and construction financing and will lead leasing efforts for Intermodal Commerce Park, a to-be-built, Class A+ industrial project comprising three buildings totaling 1.4 million square feet in the Dallas-Fort Worth area community of Haslet, Texas. 

Dustin Volz

JLL worked on behalf of Gruene Real Estate Partners and Weber & Co. to arrange the joint venture equity partnership with a private real estate fund advised by Crow Holdings Capital and placed the five-year construction loan with First United Bank on behalf of the developer.

Additionally, JLL was selected to lead the marketing and leasing effort for the master-planned development. Construction is set to be completed in July 2021.

 Intermodal Commerce Park will be constructed on a land site located at the southern end of Intermodal Drive, which connects the 82-acre site to the nearby BNFS intermodal facility in Alliance, the nation’s largest inland port.

 John Rose

The development site is approximately one mile east of Interstate 35W and at the southern end of the Alliance Airport, an auxiliary cargo-handling, destination-relieving DFW Airport. 

The location allows easy access to the Texas Triangle, the area between DFW, Houston and San Antonio, allowing tenants to reach more than 25 million people in a matter of hours.

 Intermodal Commerce Park will consist of one front-load and two cross-dock buildings that feature between 32- and 40-foot clear heights, deep truck courts, 186 dock doors, 10 ramp doors, 313 trailer stalls and ample car parking.

“With its formation, the Weber-Gruene Joint Venture will operate as one cohesive unit,” said Ken Kristofek, Owner and President, Gruene Interests, LLC. 

“We will function seamlessly, bringing together a diverse set of capabilities to the development process and enhance an already rich history of service and quality in Dallas-Fort Worth.”

Stephen Bailey 

 The JLL Capital Markets team representing the developer was led by Dustin Volz, John Rose, Stephen Bailey and Wells Waller.

The JLL Leasing team includes Managing Director George Curry, Executive Vice President Jamie Galati and Vice President Blake Rogers.

 The need for warehouse space across the country has increased due to the COVID-19 pandemic and resulting shelter-in-place orders, accelerating e-commerce growth. 

JLL expects e-commerce sales could hit $1.5 trillion by 2025, which would increase the demand for industrial real estate an additional one billion square feet.

For more news, videos and research resources on JLL, please visit our newsroom.

Wells Waller

About the Weber & Company and Gruene Real Estate Partners Joint Venture

The Weber-Gruene Joint Venture (“JV”) was formed to develop institutional grade industrial warehouse projects in the DFW Metroplex and the state of Texas. 

The JV consists of Weber & Company and Gruene Real Estate Partners. 

Since 1990, John Weber, Sr. and Weber & Company has successfully developed over 40 shopping centers in DFW totaling over 14 million square feet. 

Ken Kristofek founded Gruene Real Estate Partners after leaving the corporate world with over 30 years of corporate real estate development experience.

George Curry

 During his career, Ken has personally developed and been responsible for over 3.5 million square feet and thousands of acres of development in multiple product types. 

His development experience includes industrial warehouse, industrial warehouse parks, tilt-wall office, mid-rise office, retail, multifamily and large mixed-use land projects.

About Crow Holdings Capital

Crow Holding Capital is the real estate investment management company of Crow Holdings.

Jamie Galati 

 Led by a highly experienced team, Crow Holdings Capital manages $10.5 billion of real estate assets through its series of nine flagship value-add funds invested across property types in the Unites States, as well as its specialized fund strategies for retail, self-storage and multifamily. 

Crow Holdings is a privately owned real estate investment and development firm with a 70-year history and a strong track record of performance, partnership and innovation. 

About First United Bank

Established in 1900, First United has more than 85 bank, mortgage and insurance locations throughout Oklahoma and Texas.

Blake Rogers

 It is one of the largest, well-capitalized banking organizations in the Southwest with assets of more than $8 billion, and it is among the largest privately held community banking organizations in the U.S. 

First United provides a full range of financial services including banking, mortgage, insurance, and investment products and services, and is dedicated to inspiring and empowering others to Spend Life Wisely®. 

About the Weber & Company and Gruene Real Estate Partners Joint Venture

The Weber-Gruene Joint Venture (“JV”) was formed to develop institutional grade industrial warehouse projects in the DFW Metroplex and the state of Texas. 

The JV consists of Weber & Company and Gruene Real Estate Partners. Since 1990, John Weber, Sr. and Weber & Company has successfully developed over 40 shopping centers in DFW totaling over 14 million square feet.

John Weber, Sr.

Ken Kristofek founded Gruene Real Estate Partners after leaving the corporate world with over 30 years of corporate real estate development experience. 

During his career, Ken has personally developed and been responsible for over 3.5 million square feet and thousands of acres of development in multiple product types. 

His development experience includes industrial warehouse, industrial warehouse parks, tilt-wall office, mid-rise office, retail, multifamily and large mixed-use land projects.

 


CONTACT:

Kimberly Steele

Senior Associate, Public Relations

JLL Capital Markets

9 Greenway Plaza, Suite 700

Houston, TX  77046

T +1 713 852 3420

M +1 832 244 9994

Kimberly.Steele@am.jll.com

us.jll.com/capitalmarkets

jll.com.

firstunitedbank.com.

Spend Life Wisely®.

crowholdings.com/chc.

crowholdings.com/chc.

KW Property Management & Consulting Recognized as one of America’s Fastest-Growing Private Companies in Inc. Magazine’s Annual Inc. 5000 List for Second Consecutive Year

Robert White (left) and Paul Kaplan

MIAMI, FL – The incredible growth and entrepreneurial success of KW Property Management & Consulting, one of the residential property management industry’s premier companies, continues to garner significant awards and recognitions regionally and nationally.

For the second consecutive year, KWPMC was featured on Inc. magazine’s annual Inc. 5000 list, a ranking of the nation’s fastest-growing private companies. The company is No. 4,106 on the 2020 list.

The 2020 Inc. 5000 rankings are based on percentage revenue growth when comparing 2016 and 2019. KWPMC earned its spot with three-year revenue growth of more than 84 percent.

KWPMC was also recognized in the inaugural Inc. 5000 Series list of the fastest-growing private companies in Florida. 

The company was No. 227 on that list, which is based on two-year revenue growth between 2016 and 2018.

Company co-founders Paul Kaplan and Robert White started KWPMC in 2004 and built it into an industry powerhouse, successfully competing against established companies that have been around for decades.

 KWPMC now has more than 1,750 employees and 90,000 units across 300 communities under management.  

In South Florida, KWPMC is set to be honored as one of the South Florida Business Journal’s 2020 “Fast 50” award recipients during a virtual ceremony on Aug. 26. This is the company’s second straight appearance on the Fast 50 list, which recognizes the fastest-growing private companies in the region.

CONTACTS:

Eric Kalis

954-370-8999

ekalis@boardroompr.com

 www.kwpmc.com

www.inc.com/inc5000.

 Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

Class A office building trades in heart of Orlando’s Baldwin Park for $6 million

 1925 Prospect Avenue office building, Orlando, FL

ORLANDO, FL – JLL announced it has closed the $5.9 million sale of 1925 Prospect Ave., a 20,604-square-foot Class A office building occupied by Cuhaci & Peterson Architects and Engineers in Orlando, Florida.

 JLL represented the seller, CDLP Properties LLC, a single-purpose entity comprising the former owners of the architecture and engineering firm that occupied the office building.

The building was sold to the entity Baldwin Oak, LLC. The selling of the property was the first step in the process of Cuhaci & Peterson Architects and Engineers consolidating its offices in Central Florida.

Darryl Hoffman

 One of the only 100% fee simple parcels in Baldwin Park, the two-floor office building with dedicated parking is in the heart of this highly sought-after, planned community in Orlando that features a true live-work-play environment.

The Baldwin Park neighborhood and its commercial offices continue to have a strong appeal to local and regional companies seeking to grow their footprint in Central Florida.

 JLL’s Executive Vice President Darryl Hoffman led the transaction on behalf of the seller.

 “While COVID-19 has undoubtedly affected Orlando’s office space market and the commercial real estate market abroad, this transaction is a prime example of local businesses persevering through adversity,” Hoffman said.

 “Not only does it show that demand for commercial office remains, it also demonstrates that local businesses can and will lead our region to a post-COVID-19 economy.”

  CONTACTS:

 Kimberly Steele, JLL Senior Associate, Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Yudi Fernández, Schwartz Media Strategies

Phone: +1 305 725 8262

Email: yudi@schwartz-media.com

Michael Hicks, Schwartz Media Strategies

Phone: +1 786 261 1448

Email: michael@schwartz-media.com

Merit Partners Announces $1.5 billion Global Logistics Park in Glendale, AZ

Anthony Lydon

GLENDALE, AZ – Camelback 303 – a $1.5 billion global logistics park being developed in joint venture by Merit Partners, First Industrial Realty Trust Inc. and Diamond Realty Investments in Glendale, Arizona – will soon begin to take shape in metro Phoenix’s fastest growing industrial submarket.

 At completion, the park will accommodate approximately 9 to 10 million square feet of Class A industrial distribution and manufacturing space, making it the largest freeway-fronting industrial employment site in Arizona.

 Managing Directors Anthony Lydon and Marc Hertzberg, and Senior Vice President Riley Gilbert, from the Phoenix Office of JLL brokered the 611-acre land purchase on behalf of the development team.

Marc Hertzberg

 “Glendale’s ‘New Frontier,’ located on the Loop 303 corridor, is quickly becoming the backbone in Arizona’s industrial market and we are thrilled to welcome Camelback 303 into this area,” said Glendale Mayor Jerry P. Weiers.

“The addition of this development is another example of Glendale’s commitment to growth. Merit Partners has successfully completed several projects in Glendale and this new deal is a true testament to the importance of relationships in bringing more jobs and state-of-the-art facilities to the West Valley.”

“We are extremely excited to be building at this location and at a point in the cycle where demand for Class A industrial is exponential – and expected to continue to rise in the years ahead,” said Merit Partners President Kevin Czerwinski.

Riley Gilbert

“Camelback 303 is the natural extension of the market success we’ve already experienced at our adjacent industrial park, PV 303. Camelback 303 allows us to continue that momentum.”

“The Loop 303 corridor continues to grow in strength and prominence as a preferred logistics home for a range of businesses in the Phoenix region,” said Johannson Yap, Chief Investment Officer for First Industrial Realty Trust.

“We are excited to expand our investment in the region and serve the needs of customers through this multi-year development opportunity with our valued partners.”

 “Diamond Realty Investments is proud to continue our trusted relationship as an equity partner with First Industrial and Merit Partners in this Class A industrial development in the greater Phoenix area,” said David Richards, DRI Managing Director of Industrial Investments.

Mayor Jerry P. Weiers.

 Camelback 303 sits along the west side of Loop 303, offering extensive freeway frontage between the Camelback Road and Bethany Home Road interchanges.

 With ample land and multiple access points along Camelback Road, Cotton Lane and Bethany Home Road, the site provides the physical and logistical advantages to serve tenants ranging from mid-size users to the region’s largest industrial operators.

 “The West Valley has gained a national reputation for delivering prime locations, skilled workers and a low cost of living and doing business – all of the benefits industrial users demand,” said Hertzberg.

 According to the Q2 JLL Phoenix Industrial Insights report, Valley industrial rents are on the rise and absorption is up 39 percent from this time last year, marking the 28^th straight quarter of positive absorption with no sign of slowing.

David Richards

Nationally, JLL reports that demand for U.S. industrial real estate could increase by 1 billion square feet in the next five years.

“The ecommerce industry alone has grown by 35 percent this year, compared to just 14 and 15 percent in recent years,” said Lydon. “Sustaining this kind of consumer demand requires a massive uptick in logistical support from projects just like Camelback 303. The delivery of shovel-ready corporates sites is timely.”

 Kevin Czerwinski

 Camelback 303 is a sub-four-hour-drive from Southern California’s Inland Empire submarket and will leverage its proximity to the ports of Los Angeles and Long Beach.

It is less than 30 minutes from Sky Harbor International Airport and 2.5 miles from the new Northern Parkway, a four-lane I-10 reliever expressway providing workforce connectivity between the Loop 303, Central Phoenix and Glendale, and placing Camelback 303 within 30 minutes of 1.5 million residents.

 With these advantages, the Loop 303 corridor is projected to grow from a 15 million-square-foot industrial submarket to more than 50 million square feet of industrial space within the next five to six years – with major users in the e-commerce, manufacturing, food and beverage, and third-party logistics companies.

 Reflecting this trend, corporate employers nearby include UPS, XPO/Boeing, Ferrero, Ball Manufacturing, Sub-Zero and REI.

 Camelback 303 will offer build-to-suit opportunities and speculative development.

  CONTACT:

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

www.meritpartnersinc.com

www.jll.com.

www.diamondrealtyinvestments.com. 

The Babb Group Arranges $820,000 Sale of Six-Unit Apartment Building in Gulfport, FL

Six-unit Gulfport, FL apartments, 5601 31st Avenue South

 

 Casey Babb

 GULFPORT, FL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 5601 31st Avenue South, a 6-unit apartment property located in Gulfport, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $820,000.

  The buyer, a private investor, was secured and represented by Shawn Rupp, Jay Ayres, Casey Babb, CCIM and Luis Baez, CCIM, investment specialists in Marcus & Millichap’s Tampa office.

Shawn Rupp

“Gulfport is a very unique submarket with one of the strongest occupancy rates in the Tampa-St. Petersburg metropolitan area. The location is top-tier in Tampa Bay and is what attracted the buyer to the property,” said Ayres.

5601 31st Avenue South, built in 1972, is located in Gulfport, Fla. 

Luis Baez

The corner property features New Orleans-style apartments, resident parking, on-site laundry utilities, and is situated only a short walk from the beach.

CONTACT:

Whitney Davis

Marketing Coordinator

Certified Agent Support Specialist

Marcus & Millichap 201 North Franklin St. Suite 1100 Tampa, FL 33602

(813) 387-4743 direct (813) 387-4700 main (813) 387-4710 fax whitney.davis@marcusmillichap.com

www.MarcusMillichap.com.

Nominations Open for Sixth Annual International Society of Hospitality Consultants' Lori Raleigh Award

Andrea Belfanti

Atlanta, GA -- The International Society of Hospitality Consultants (ISHC)  announced that nominations are being accepted for the sixth annual Lori Raleigh Award for Emerging Excellence in Hospitality Consulting. 

Launched in 2015 in honor of Lori Raleigh, founder of the Travers Group and executive director of ISHC 2000-2013, the award honors young, successful industry professionals with leadership qualities and a perceived bright future in hospitality consulting.

 Wendy Chan

“The Lori Raleigh Award for Emerging Excellence in Hospitality Consulting provides an opportunity to recognize young professionals who demonstrate early career success and leadership qualities,” said Andrea Belfanti, executive director, ISHC.

Lori Raleigh

Last year’s winner was Wendy Chan senior vice president within JLL’s Hotels & Hospitality Group, leading the advisory and asset management efforts throughout Latin America. 

For more information on The Lori Raleigh Award, please visit www.ishc.com/awards or go directly to the nomination form here.

CONTACT:

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com

www.ishc.com.

The Castell Project, Inc. Promotes Deborah L. Cox to Vice President

 Deborah L. Cox 

ATLANTA, GA —Officials of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry announced that Deborah L. Cox has been promoted to vice president. 

“Deb has been instrumental in helping Castell expand to where it is today, and we realize she is pivotal to continued growth as we work towards our goal of seeing at least one in three women at the C-Suite level within the hospitality industry,” said Peggy Berg, chair , Castell Project, Inc. 

 “Her background in strategic planning, equality issues and conflict resolution have made her an invaluable part of our organization. 

"As we have scaled programs and increased our outreach, her behind the scenes work has taken us from a start-up mentality to a well-organized machine.  The Board and I are confident Deb will play a critical role in realizing Castell Project’s  goal of a more gender-neutral workplace.

Peggy Berg

Prior to joining the Castell Project, Cox was principal of Interacting Dynamics, a full-service consultancy focused on strategic and influencer marketing, corporate communication and merger integration.   

 Previously, she was co-founder and principal of CoMass Group, an organization that designed and delivered programs to address issues of incivility and lateral violence within the healthcare community. 

CONTACT:

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com