Ware Malcomb Announces Construction is Under Way on 640 Columbia Multi-story Industrial Building in Brooklyn, NY

Rendering of planned 640 Columbia development, Brooklyn, NY

 

NEW YORK, NY – Ware Malcomb, an award-winning international design firm announced construction is underway for a multistory distribution center at 640 Columbia in Brooklyn, New York.

Michael Bennett

 Ware Malcomb is providing architectural design services for the project and working in collaboration with DH Property Holdings and Suffolk Construction. Steel is currently being erected at the 640 Columbia construction site. 

The facility’s strategic location will facilitate crucial last-mile distribution to meet the needs of retailers and manufacturers being minutes from Downtown Manhattan, Brooklyn, Queens, and the largest concentration of e-commerce shoppers in the country.

 The project is located on a 4.5-acre site in the Red Hook waterfront district in Brooklyn. The 3-story facility totals over 370,000 square feet and includes a warehouse, office space, two levels of truck docks, a mezzanine with parking and dedicated elevator service to the third floor.

Edward Mayer II

 The second story, which is accessible to full-size tractor trailers via a ramp, consists of 28-foot clear heights and a 130-foot truck court. 

The third floor includes 18-foot clear heights and has direct freight elevator access. 

An attached 77,853 square foot parking structure accommodates up to 184 cars for employees. 

 “Seeing this project progress from Ware Malcomb’s conceptual multistory prototype into construction is an incredible milestone for Ware Malcomb,” said Michael Bennett, Principal of Ware Malcomb’s Northeast region.

  ”We have worked in close collaboration with DH Property Holdings and Suffolk Construction and are looking forward to seeing this project through to completion.”

Dov Hertz

“Based on the specific requirements of this project and the location’s access to 13.5 million consumers within an hour drive, Ware Malcomb is confident the unique design of this multistory warehouse will serve as a significant distribution center for the greater New York area for many years to come,” said Edward Mayer II, Principal, Architecture of Ware Malcomb’s Newark, Princeton and New York offices.

 “We’ve enjoyed working with the team at Ware Malcomb from the early conceptual stages of this project now into construction. Their industrial thought leadership was demonstrated through their creative multistory design and efforts to maximize the long-term real estate value of the facility and the site,” said Dov Hertz, President of DH Property Holdings, LLC.  

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

 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

 

Daum Commercial Completes $93.8 Million Sale of Six-Building Industrial Portfolio Totaling 464,415 SF in Los Angeles County

    Six-Building, 464,415 SF Industrial Portfolio Sold in Vernon, CA

 VERNON, CA – DAUM Commercial Real Estate Services has completed the $93.8 million sale of a 464,415 square-foot industrial portfolio encompassing six properties in the Los Angeles County submarket of Vernon, California, according to the firm’s President and CEO Michael Nubel.

 Nubel, alongside DAUM Executive Vice Presidents Jerry Sackler and David Freitag, represented Gautier Land Company as the seller in this transaction and procured the buyer, Rexford Industrial Realty, Inc.

Michael Nubel

“This investment transaction was the largest in the city of Vernon, an infill submarket located less than a mile from Downtown Los Angeles, in 2020,” explains Sackler, who notes that industrial vacancies in the submarket hovered at just above 3% in Q3, according to a recent DAUM market report. 

 “Through strategically marketing these properties and the strength of their long-term investment potential, we were able to secure a higher-than-average price per square foot for the seller as they move to diversify their portfolio.”

 Nubel adds that this was accomplished through DAUM’s experience in the submarket, as well as a long-term relationship with the seller and knowledge of the portfolio:

  “We’ve developed a deep partnership with Gautier Land Company spanning several decades, working with the family-owned private investment firm for more than 50 years and handling the leasing and management of all its properties for nearly 30 years.”

Jerry Sackler

The well maintained single and multitenant buildings are fully leased to a diverse tenant mix and feature 20’ to 30’ clear heights and extensive dock-high loading.

 “These assets are an ideal fit for Rexford’s portfolio of industrial properties located in Southern California infill markets,” continues Sackler.

  “Leveraging the high demand in the Greater L.A. area and their expertise in the sector, the firm is well positioned to unlock the upside potential these properties present.”

 The Vernon, California properties sit on 20.93 acres of land and include a 35,000 square-foot building located at 1921-1931 E 27^th Street; a 40,437 square-foot building at 2011-2025 E 27^th Street; a 98,389 square-foot building at 2031-2099 E 27^th Street; a 126,563 square-foot building at 2034-2040 E 27^th Street; a 63,318 square-foot building at 2750 S Alameda Street; and 2800-2840 S Alameda Street.

David Freitag

Contacts: 

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

 

www.daumcommercial.com.

 

 

 

 

PEBB Enterprises Expands into New York Market with Retail Acquisition

 Ian Weiner

 

BOCA RATON, FL and NEW YORK, NY –– PEBB Enterprises, the entrepreneurial private real estate investment firm, is making its first foray into the New York market with the acquisition of a Long Island shopping center.

Mark Kaplan

The firm, in partnership with New York-based Sagamore Hill Partners, purchased Soundview Marketplace, a retail property with significant upside, in affluent Port Washington.

John Bell

PEBB and Sagamore acquired the 188,109-square-foot shopping center at 10 Shore Road for an undisclosed price. The transaction closed on Dec. 18, 2020.

Built in 1962 and 1977, Soundview Marketplace is comprised of four buildings on nearly 11 acres. 

Notable tenants include Target, TJ Maxx, Walgreens, West Marine and Ace Hardware. Target and TJ Maxx recently signed long-term leases at the center.

Soundview Marketplace presents an exceptional value-add opportunity for PEBB and Sagamore. 

It was 75% leased at closing, leaving substantial room to backfill remaining space at present-day rents.

Jon Kleinberg 

“Expanding into New York with this acquisition is an incredible way to close out the year,” PEBB Enterprises President and CEO Ian Weiner said.

 “This is a particularly exciting asset due to its location, strong anchor tenants and future lease-up potential. PEBB continues to pursue investment opportunities in New York and the broader Northeast market.”

“With this acquisition, we have the opportunity to complete Soundview Marketplace’s transformation into the area’s top shopping and dining destination.”  

Mark Kaplan, Principal of Sagamore Hill Partners added.  “Through site improvements and a focus towards attracting best-in-class operators, we can achieve that goal.”

Transwestern’s John Bell, Jon Kleinberg and Patrick Heeg of the firm’s Miami, Atlanta and New York offices, respectively, represented the seller. 

Patrick Heeg 

The property was marketed through the Ten-X commercial real estate transaction platform.

Port Washington is a hamlet, or community, in Nassau County on the North Shore of Long Island.

 The upscale area is known for luxurious homes, marinas, yacht clubs and golf courses.

  CONTACTS:

Eric Kalis

954-370-8999

ekalis@boardroompr.com

 

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

www.saghill.com.

https://pebbenterprises.com/.  

JLL Capital Markets finds retail lending remains active with insurance companies and local banks

Claudia Steeb

CHICAGO, IL – Various coronavirus stay-at-home orders affected retail investment sales transactions in the early days of the pandemic, but insurance companies and local bank lenders kept capital at the ready for deployment into retail.

With historically low interest rates, JLL Capital Markets retail debt placement teams have closed $542.83 million worth of retail financings since July, demonstrating the lending community’s confidence in segments of the retail sector.

 “There is a myth that retail is unfinanceable today, and that’s absolutely untrue,” said Christopher Drew, Senior Managing Director, Capital Markets, JLL Americas.

“When structured appropriately, plenty of financing is available to investors. In fact, certain lenders, like local and regional banks, never stopped lending.”

Record-low interest rates are also bringing new investors to the sector, according to Claudia Steeb, Managing Director, Capital Markets, JLL Americas.

“Investors notice these rates and see an opportunity to expand their holdings and balance out their portfolios with retail acquisitions, possibly at a discount.”

 Steeb also says flexibility is vital to retail lending, which is causing the type of lender providing the most agreeable terms to shift.

Christopher Drew

 “Even though we are working with all types of lenders, insurance companies and local and regional banks are paving the way toward getting retail deals done in 2020,” Steeb explained.

“They have flexibility, tend not to have significant exposure in any particular asset class and are able to arbitrage the market so when competitors pull out, they can jump in and gain extra yield for their portfolio.”

  Steeb points out that JLL is seeing other lenders, such as bridge lenders, debt funds and CMBS, underwriting well-located retail assets with strong sponsorship and existing supportable cash flow to determine if they can sell their loan committees and/or rating agencies on the retail loan opportunities.

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

  

 CONTACT:

Kimberly Steele,

JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Blue Ocean Wealth Advisors Moves to Maitland, FL

Andy McCaw

 ORLANDO, FL – Andy McCaw, FMA, Vice President at NAI Realvest, recently helped tenant Blue Ocean Wealth Advisors, LLC relocate to a new office. 

 Blue Ocean consists of two separate operating companies known as Dorman Financial Management and Carpenter, Claydon Advisors. 

They are moving to 557 North Wymore Road, Suite 201, Maitland and will be occupying 2,965 SF by the first of the new year. 

 

The landlord, SLRK, LLC was represented by Jamie Barati and John Worrell with JLL.  

 

About NAI Realvest

 

NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

 

 CONTACTS:

Yelena Gurtovenko 

ygurtovenko@realvest.com

 

Andy McCaw, FMA, Vice President, NAI Realvest

407-875-9989, amccaw@realvest.com

 

Patrick Mahoney, President/CEO, NAI Realvest,

407-875-9989 pmahoney@realvest.com

 

www.nairealvest.com.

Largest industrial spec project in more than 15 years moves forward in Tampa, FL

Julia Silva

 

TAMPA, FL – JLL Capital Markets announced it has successfully arranged a joint venture between Scannell Properties and Hoover Development Partners for the redevelopment of a key industrial site located north of the air cargo entrance at the Tampa International Airport. 

Luis Castillo

 The subject property is positioned within one mile of the Air Cargo entrance for Tampa International Airport (TIA) in the Airport Industrial submarket.

The Airport Industrial submarket is one of the tightest industrial submarkets in the Tampa area boasting a 1% vacancy rate.

The newly branded TIA Logistics Center is anticipated to include up to 245,000 square feet of warehouse/distribution space together with commercial outparcels and will be the largest industrial spec project delivered to this submarket in more than 15 years. 

The developers are currently in the permitting and entitlement approval phase and expect to break ground in 2021.

 The JLL Capital Markets team that arranged the joint venture was led by Julia Silva, Luis Castillo and Cody Brais.

Cody Brais

 The JV entity, SP HDP #467 LLC closed on the acquisition of the 20-acre site on November 12, 2020 for $4,800,000.00. Donamae Clinebell, Vice President for Thomas D. Wood & Company, assisted with the land acquisition efforts.

 “Industrial last-mile and e-commerce demand has skyrocketed through the pandemic and the long-term outlook is very bullish on the sector,” Silva commented.

 “We are thrilled to have brought together key industry veterans to create a strategic vision for this significant development site near the Tampa International Airport.”

 JLL’s leasing team of John Dunphy and Peter Cecora have been retained to lease the asset.

 “The Airport submarket is one of the best performing submarkets in the Tampa MSA because of its centralized location and close proximity to Tampa’s International Airport,” said Cecora.

 John Dunphy

 “The majority of current tenants are here on a long-term basis, so supply is limited. Given that, along with the fact that we haven’t seen a new development of this scale in more than 15 years, we anticipate strong demand once construction begins.”

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

 About Scannell Properties

Scannell Properties is a privately owned real estate development and investment company that focuses on build-to-suit and speculative development projects throughout the United States, Canada and Europe.

 In business since 1990, Scannell offers experienced leadership, a history of successful commercial development projects, broad geographic reach and expertise in a wide range of building types.

 Peter Cecora 

 About Hoover Development Partners

Hoover Development Partners is a subsidiary of Legacy Development Partners, a Tampa-based real estate development company founded by veteran real estate developer Ken Morin and attorney Bryan Sykes. 

Utilizing their experience and expertise in developing challenging projects, Legacy Development Partners is positioned to develop multiple commercial projects in the greater Tampa Bay market and continue their legacy of successful developments.

 About JLL

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

Bryan Sykes

 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 in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit jll.com.

 CONTACT:

Kristen Murphy

Senior Manager

 Public Relations

 Investor Services JLL

One Post Office Square

 Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 www.jll.com

 

EverWest Enters Houston Mid-Size Industrial Market with $8.75 Milllion Port Acquisition

Mark Bigarel

 HOUSTON, TX – Denver-based EverWest Real Estate Investors has entered the Houston mid-size industrial market with the $8.75 million purchase of 1301 S. 16^th St., La Porte, Texas – a 109,00-square-foot, Class A warehouse facility in the Port of Houston.

The building is located less than 4 miles from Barbours Cut Terminal and 4.5 miles from the Bayport Container Terminal. It is the last warehouse project built in the area, following an industrial development moratorium by the city of La Porte.

Mark Bigarel, EverWest’s Senior Vice President, Head of Acquisitions, managed the acquisition for EverWest. The property developer and seller, Phelan-Bennett Development, was represented by its Southwest Regional Partner, Justin Bennett.

The 1301 building features 28’ clear height, a 60’ speed bay, 130’ truck court and nine dock doors, with expandable knock-out doors. It is divisible to 40,000 square feet.

 Justin Bennett

“This acquisition reflects EverWest’s ongoing ability to source and complete off-market investments in high-demand locations,” said Bigarel. “It is well positioned to fill port-driven demand from small and mid-size users.”

The deal continues EverWest’s active investment in U.S. industrial assets. In 2020 that strategy included acquisitions in the Seattle, Nashville, Denver, Miami and Southern California metro markets.

The 1301 building is available for immediate occupancy. For leasing information, contact Judd Harrison of Colliers International at (832) 266-5114.

 

 For more information on EverWest, please visit www.everwest.com. 

For more information on GWL Realty Advisors, please visit www.gwlra.com.

 

CONTACT:

Stacey Hershauer

focusAZ 

 P 480.600.0195

www.focusaz.com

Dream Finders Homes Plans 2021 Opening for Meadow Ridge Amenity Center at Silverleaf in North Florida

Meadow Ridge Amenity Center 

ST JOHNS, FL – Residents of Meadow Ridge, an intimate Dream Finders Homes’ neighborhood, soon will have their own amenity center within the sprawling master-planned community of Silverleaf, just off St. Thomas Island Parkway and County Road 210.

When completed early next year, the Meadow Ridge center will feature a zero-entry lap pool, a fenced dog park, a secure playground and a cabana-style clubhouse with a separate gathering room for resident parties and other events, according to Division President Brad Muston.

Brad Muston

“This neighborhood – which is embedded in an 8,500-acre development along the St. Johns Parkway – is a nature-lover’s dream with more than 3,500 acres of conservation land,” he said. “And, with quick access to Interstate 95, it’s only a 25-minute drive to St. Augustine or Jacksonville .”

Muston said currently there are 88 homesites available in the single-family home neighborhood where homebuyers can choose from more than a dozen flexible one- and two-story floor plans ranging from 1,622 to 2,500 square feet of living area.

The three- to four-bedroom, two- to three-bath homes are priced from the low $200,000s.

For more information, please visit www.dreamfindershomes.com or call

 888-214-1164. 

CONTACTS:

Brad Muston, Division President, Dream Finders Homes,

888-214-1164 Brad.Muston@dreamfindershomes.com

Caroline Marchant, Marketing Assistant, Dream Finders Homes, 888-214-1164 Caroline.Marchant@dreamfindershomes.com

Beth Payan, Larry Vershel Communications

407-644-4142 or 407-461-3781; beth@larryvershel.com