Thursday, October 29, 2020

Ware Malcomb Announces Completion of Airspace Technologies Offices in Carlsbad, CA


Tiffany English

SAN DIEGO, CA, Oct. 29, 2020 – Ware Malcomb, an award-winning international design firm, today announced construction is complete on the new offices of Airspace Technologies located at 5909 Sea Otter Place, Suite 200 in Carlsbad, Calif. Ware Malcomb provided interior architecture and design services for the project.

The new Airspace Technologies offices are located within the Atlas at Carlsbad campus, for which Ware Malcomb previously provided architectural design services. 

Ware Malcomb also designed the common areas for the building concurrently with the Airspace Technologies build-out. This included the first and second floor lobbies, corridors, utilities and restrooms.

The finished 23,000 square foot interior tenant improvement project for Airspace Technologies, a technology-enabled logistics service provider, gives employees a brand new home in a creative office environment.




With three distinct departments, Ware Malcomb designed a neighborhood layout that allows each team to work, collaborate, and focus to fit their respective workplace behaviors.

The Design and Engineering departments have several meeting areas which are composed of both enclosed rooms and impromptu stand-up “scrum” areas.

In contrast, the Administrative department includes more private offices and phone/focus rooms. The centrally located reception, boardroom, and break area provide a hub for employees to circulate amongst departments while also providing a welcoming environment for visitors. 

The materials used throughout the space reflect the office’s expansive canyon views facing west towards the Pacific Ocean.

Varying shades of green in the flooring provide subtle wayfinding and directly relate to Airspace Technologies’ branding. The numerous natural wallcoverings, wood veneers, and playful decorative lighting create unique experiences in each meeting area. 




Strategically placed acoustical ceiling clouds above the workstations celebrate the exposed structure of the building while addressing concerns of acoustics in an open office environment.

The dynamic ceiling treatment at the entry features veneer wraps up the wall and this theme continues along the ceiling with varying angles, recessed lighting, and a built-in banquette seat. 

“The new offices of Airspace Technologies reflect the company’s shift towards a more sophisticated and connected environment,” said Tiffany English, Principal of Ware Malcomb’s San Diego Office.

“Their expansion into more square footage also ensures their new office space will meet the growing needs of the company for many years to come.

"The fact that Airspace is located within the larger Atlas at Carlsbad campus, with the creative environment and amenities that this campus provides, is an added benefit for employees and visitors alike.” 




The General Contractor for the project was Good & Roberts, the Construction Manager was Hughes Marino, and the furniture vendor was Cultura.

 

For more information, please visit http://www.waremalcomb.com/news and view Ware Malcomb’s Brand Video at youtube.com/waremalcomb.

Ware Malcomb San Diego

3911 Sorrento Valley Blvd, Suite 120
San Diego, CA 92121

p. 858.638.7277

Ware Malcomb Downtown San Diego

402 West Broadway, Suite 1560
San Diego, CA 92101

p. 619.564.5138

 Contacts:

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

 Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

 Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com


'She Has a Deal' Announces Pitch Competition Winning Teams

Tracy L. Prigmore
 


 


 








 





    Hotel Investment Pitch Competition Awards $50,000 in Deal Equity

McLEAN, VA —Officials of  “She Has a Deal,” an annual hotel investment pitch competition for early-career women, announced the winners of its Oct. 24 event.

Over the last year, participants completed more than 12 hours of intensive hotel investment education to learn how to source, evaluate and raise capital for a real hotel deal.

From left: Viviana Wilkins, Meaghan Carfrey, Nikki Gonzalez

 Out of a field of 17 teams, five were selected at a virtual preliminary round to move forward to the finals, where they pitched live to a judging panel of top-level hotel business executives, entrepreneurs and investors. 

 Held at Hilton’s Innovation Gallery at the Hilton McLean, Virginia, the event also was broadcast on the “She Has a Deal” website.

Three prizes were awarded. 

The Viewers’ Choice award, voted on by the livestream audience, was given to Fernweh Partners, comprised of Meaghan Carfrey, Nikki Gonzales and Viviana Wilkins from San Diego State University.  Winners received $200 Visa gift cards.  Fernweh Partners also received second place from the judges, with an additional cash award of $5,000 for the team.

         From left: Joanne Angbazo, Kristen Collins, and Lera Covington

The grand prize-winning team was Datcher, made up of Cornell University Baker Program in Real Estate graduates Joanne Angbazo, Kristen Collins and Lera Covington.  Datcher was awarded $50,000 in deal equity, which makes them hotel owners.

 “Hands down, the most valuable aspect of the SHaD competition has been the meaningful personal connections that I have made along the way,” said Lera Covington, Datcher’s team captain. 

“From the industry luminaries that led our MasterClasses to the SHaD coaches-turned-mentors and competitors-turned-colleagues, SHaD has provided me with so many tremendous relationships that will last a lifetime.  I can’t wait to do deals with this network in the future!”

 "The SHaD investment roadmap allowed our team to develop a clear strategy for our deal early in the competition," said Datcher member Kristen Collins. 

         From left:  MBA ’19 alumnae Nancy Guzman and Marlene Reyes

 “The MasterClasses and discussions with industry leaders empowered us to take what we learned in Cornell’s Baker Program in Real Estate and make it applicable to our deal.”

 Joanne Angbazo added, "It's been such an honor and privilege to be part of this experience, but I tell you, we put in the work! When surrounded by such inspiring participants, we had a surplus of motivation to push through those long days.

"We worked hard and wanted to deliver excellence in every way, so to be announced winner is both humbling and empowering."

 Datcher pitched an 80-room adaptive reuse project in Detroit, Mich.  The boutique hotel would be built from an old bank building, with health and wellness services offering inside the bank’s vaults.


 “It was so rewarding to see our vision come to life.  My goal from the start has been to increase the number of women hotel owners, and there are now three more women on the list,” said Tracy Prigmore of TLTsolutions and founder of the “She Has a Deal” competition.  “All of our pitchers were outstanding, so Joanne, Kristen and Lera should feel very proud.”

 Applications for the 2021 pitch competition are being accepted until November 25 at www.shehasadeal.com. 

 About “She Has a Deal”

 “She Has a Deal” (SHaD) was founded to create pathways to hotel ownership and development for women through education, networking and mentorship. 

Hilton Hotel, McLean, VA

 SHaD's signature program is an annual hotel investment pitch competition for early-career women.  Accepted pitching teams participate in a multi-module education series that walks them through the process of sourcing, evaluating, financing and pitching a hotel investment deal. 

“She Has a Deal” provides a financial model to assist the competitors in their search for the best hotel deal.  It's not just a deal on paper: the pitching teams find, evaluate and propose real hotel deals, with the chance to win $50,000 in deal equity. 

 “She Has a Deal” also offers educational opportunities for all kinds of aspiring hotel investors through a MasterClass series and has launched an investment fund to support women led hotel development projects.

  Contact:

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

chris@dalygray.com | www.dalygray.com

Main: 703-435-6293

Mobile: 703-864-5553

 

Wednesday, October 28, 2020

Next Wave Investors refinances Westover Parc apartments in Phoenix, AZ for $21 million

 

Westover Parc is a 160-unit, multi-housing property located
at 6515 West McDowell Road, Phoenix, AZ

PHOENIX, AZ –

 Jamie Kline 

 JLL Capital Markets announced it has arranged a $21.285 million refinancing for Westover Parc, a 160-unit, multi-housing property located at 6515 W. McDowell Rd. in Phoenix, Arizona. 

 JLL worked on behalf of Next Wave Investors to secure the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. 

 The Westover Parc apartments consist of one-, two- and three-bedroom units ranging from 792 to 1,190 square feet. The gated community also features barbecue grills and picnic areas and a fitness center.

 Conveniently located near the Papago Freeway, Westover Parc is a short drive to downtown Phoenix and various colleges and universities, including Grand Canyon University, Phoenix College and Glendale Community College.

Charlie Vorsheck

 Additionally, the apartments are proximate to various shops and dining options, such as the Desert Sky Mall.

 The JLL Capital Markets team representing the borrower was led by Senior Director Jamie Kline and Analyst Charlie Vorsheck, along with Phoenix Director Tim Brousse.

 JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform.

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.

Tim Brousse
 JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.




CONTACT:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

us.jll.com/investorservices

jll.com.

Investor purchases Charlotte’s Metropolitan Midtown Mixed-Use Development

 Metropolitan Midtown, completed in 2008, offers 170,589 SF of office space and 171,644 SF of retail along side a 1,110-space parking deck
 

CHARLOTTE, NC– JLL Capital Markets announced it has completed the sale and financing of Metropolitan Midtown, a premier mixed-use development featuring 342,233 square feet of office and retail space and a 1.3-acre development parcel in Charlotte, North Carolina.

Ryan Clutter

 JLL represented the seller, institutional investors advised by J.P. Morgan Asset Management, and procured the buyer, funds affiliated with Northwood Investors LLC. Additionally, JLL worked on behalf of the buyer, to secure an acquisition loan.

 Completed in 2008, Metropolitan Midtown is one of the city’s premier urban mixed-use properties offering 170,589 square feet of office space and 171,644 square feet of retail alongside a 1,110-space parking deck.

The office component is 97.1% leased and includes investment grade tenants representing a wide range of industries, including banking and financial services, insurance, healthcare, real estate and technology.

The retail portion of Metropolitan Midtown is anchored by a top-performing Trader Joe’s and is complemented by a mix of national and local tenants, including Marshalls, Best Buy, and Zoe’s Kitchen.

Richard Reid

 The project is located at 1111 Metropolitan Avenue and serves as the anchor for the Midtown / South End submarket.

 Metropolitan Midtown is a vibrant part of the neighborhood hosting a variety of lifestyle events that spur community involvement, including fitness events, movie nights, festivals, workshops and more.

With a location immediately adjacent to Interstate 277, the property offers easy ingress and egress for commuters and is a short drive to Charlotte’s central business district, Bank of America Stadium, Charlotte Douglas Airport and the affluent Dilworth and Myers Park residential enclaves.

 The JLL Capital Markets team representing the seller was led by Senior Managing Directors Ryan Clutter and Richard Reid and Senior Directors Chris Lingerfelt, Tom Kolarczyk, Hunter Barron and Zack Drozda. 

 Chris Lingerfelt

 “Metropolitan Midtown is positioned within one of the most sought-after corridors for new development in Charlotte,” Clutter said.

“This area has experienced an unprecedented amount of new development, announcements, and investor demand in the last 24 months, driving rental rate growth and further tightening vacancy in the submarket.

 “We are very excited to see Northwood Investors transform this asset by utilizing their exceptionally strong experience and operating company platforms in the office, retail and development space,” added Lingerfelt.

 The financing efforts were led by JLL Capital Market’s Senior Managing Director Travis Anderson.

 Tom Kolarczyk

 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 sales, 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 our newsroom.

Hunter Barron

About J.P Morgan Global Alternatives

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management.

With more than 50 years as an alternatives investment manager, $145 billion in assets under management and more than 600 professionals (as of June 30, 2020), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds.

 Operating from offices throughout the Americas, Europe and Asia Pacific, our 15 independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client's specific objectives.

Zack Drozda

 About Northwood Investors

Northwood Investors is a privately held, real estate private equity firm that owns and operates real estate across the US and Europe.

The firm currently manages approximately $8 billion of investor capital. Northwood's flagship fund seeks to opportunistically acquire well-located real estate with a plan to create value through hands-on asset management.

 Northwood is vertically-integrated with in-house operating teams across the office, multifamily, retail and hospitality sectors.

Travis Anderson


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

 JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

 JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.


Contacts:

Kristen Murphy

JLL Senior Manager

Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

jll.com.

northwoodinvestors.com 

jpmorganassetmanagement.com.

Stos Partners Trades 56,300-SF San Diego, CA Cold Storage Facility After Increasing Value by 35%

This 56,300 square-foot  cold storage industrial facility
was sold for $8.3 million in San Diego, California’s
Otay Mesa submarket.
 


CJ Stos


SAN DIEGO, CA  – Stos Partners, one of the most active commercial real estate investment and management firms in San Diego County, has announced the sale of a 56,300 square-foot cold storage industrial facility in San Diego, California’s Otay Mesa submarket.

 Stos Partners initially acquired the asset for $6.15 million in June of 2019 and was successful in bringing the property to 100% occupancy during escrow. 

Stos then implemented a value-add program that resulted in a 35% value increase, ultimately selling the property for $8.335 million to a private investor.

 “We immediately recognized the potential in this asset based on its prime location near the U.S./Mexico border and its cold storage product type,” says CJ Stos, Principal at Stos Partners.

Jay Boyle
 “Demand for cold storage facilities has grown exponentially during the COVID-19 pandemic, driven in large part by online shopping. 

Today, 46 percent of shoppers plan to continue purchasing goods online, and the value of the cold storage sector is on track to grow by $102.2 billion in the next five years, according to a recent Transwestern report.”

 The Stos team was able to build on these strong fundamentals as well as the strength of the local San Diego industrial market to create property-level value, according to Jay Boyle, Executive Vice President at Stos Partners.

Jason Richards

 “The San Diego industrial market is outperforming many others in the nation, posting its highest net absorption since 2018 in Q3 of 2020, with tightening vacancy that closed the quarter at 5.1%,” says Boyle.

 “As a seasoned investor in this community, our firm understands the nuances of the local market and maintains strong relationships with exceptional brokers and partners, allowing us to move quickly and nimbly in response to market drivers. 

"In this case, we were able to outperform our proforma yet again, resulting in a successful full-cycle investment.”

 During its ownership, Stos implemented a series of upgrades at the property including a new roof, new paint, mechanical enhancements, fresh landscaping, and other general building improvements.

Louay Alsadek

 “The vision for this project was to transform an under-used and highly in-demand cold storage facility into a performing investment, and we’ve accomplished exactly that,” Jason Richards, partner with Stos Partners, explains.

 “By expanding and extending the tenant and implementing strategic upgrades throughout the site, we were able to execute a sale that is truly a win-win, both for Stos and for the new owner.”

 The property is located at 9925 Airway Road in Otay Mesa, California. CBRE’s Louay Alsadek, Hunter Rowe, Erik Parker and Matthew Pourcho represented Stos Partners as the seller in the transaction.

Hunter Rowe

 About Stos Partners

 Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors.

 With a track record spanning approximately one-half billion in investments to date, the firm targets the most competitive risk-adjusted returns in the marketplace through opportunistic acquisitions, strategic redevelopment and ground-up development of both institutional and small-to-mid-cap commercial properties.

 Erik Parker 

 Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably.

 More information is available at www.stospartners.com.


Contacts:

Katie Haga / Jenn Quader

Brower Group

Matthew Pourcho
(949) 438-6262

khaga@brower-group.com


$49.1 million in refinancing secured for the Millennium at Hometown development in North Richland Hills, TX

 

Greg Nalbandian

DALLAS, TX – JLL Capital Markets announced it has arranged a $49.1 million refinancing for the Millennium at Hometown, a to-be-completed, Class-A, multi-housing project comprising 306 apartments and 11,697 square feet of retail located at 6021 Parker Blvd. in North Richland Hills, Texas. 

 JLL worked on behalf of the borrower, Sovereign Properties, to secure the floating-rate loan with Asia Capital Real Estate (ACRE). Construction is nearing completion with the first building projected to TCO in December 2020.

 The development is in the burgeoning North Richland Hills submarket at the intersection of Grapevine Highway and Precinct Line Road.

This submarket has seen a total rent growth of 30% since 2010, all while maintaining average occupancy of 94%. The area has also become a robust employment hub, with over 70,000 residents, 1,200 businesses and 30 major employers, including a surge in headquarter set ups from companies like Tyson and XPO Logistics.

Jesse Wright

 JLL’s Capital Markets team representing the borrower was led by Senior Managing Director Greg Nalbandian and Director Jesse Wright. 

 According to JLL, this bridge loan was signed up during the height of the COVID pandemic, illustrating the strength of the multi-housing capital markets and the liquidity that continues in this sector for well-conceived projects during highly challenging macro climates.

 “We pride ourselves on our ability to provide institutional developers the liquidity needed to execute on their business plan, especially in tough market environments,” said Daniel Jacobs, Head of Origination at ACRE.


Daniel Jacobs


“JLL was instrumental in structuring this deal, and we are confident that it will set Sovereign Properties up for success at Millennium Hometown.”

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

Contact:


 Natalie Passarelli

 JLL Senior Associate

 Public Relations

Phone: +1 (224) 477-7307

Email: Natalie.passarelli@am.jll.com

jll.com.