Tuesday, January 26, 2021

Stream Grows Chicago Office with Seasoned Agency Leasing Team of Eight Well-Established Brokers

 Brittany Hughes

 CHICAGO, IL, Jan. 26, 2021– Stream Realty Partners (Stream), a national real estate services, development, and investment company, announced today that Mark Bâby, Benjamin Cleveland, Mark Gunderson, Brittany Hughes, Wendy Katz, Matt Lerner, Jack McKinney Jr., and Andrea Saewitz have been hired in Stream’s Chicago office.


Wendy Katz

 The seasoned leasing team will join the office business unit and assist Stream in continuing to build a robust transaction and services business in Chicago.


Andrea Saewitz 

 

Speaking on behalf of the team, McKinney said, “We are thrilled to join Stream. We believe the firm is one of the industry’s most dynamic companies and especially look forward to helping realize the unique vision Patrick Russo and Adam Showalter have established for the Chicago office.

 Mark Bâby

 "For our team, it is a once-in-a-career opportunity to be part of the growth of something we believe is very special. At Stream, we have found a company aggressively investing in talent and positioning for the future.


Benjamin Cleveland

"Even despite the challenges and uncertainty the pandemic has beset on our industry, Stream has remained committed to their people and laser-focused on strategic growth.


Jessica O’Hara

 

"This culture is representative of a company we believe will best serve our clients and team.”


Patrick Russo 

 

McKinney and Bâby will serve as Managing Directors; Cleveland, Gunderson, Katz, Lerner and Saewitz have joined as Executive Vice Presidents and Hughes has joined as Associate.


                         Chris Jackson

 All eight brokers are equally well-known leaders and highly regarded within the Chicago community and commercial real estate industry.


Brian Duffy

 

They have collectively represented some of the most notable assets in Chicago, including The Merchandise Mart, 500 West Madison, 800 Fulton, 330 North Wabash and One South Dearborn.


Jack McKinney Jr.

 

The team’s initial objectives include growing Stream’s office agency leasing reach and expanding Stream’s office service business platform throughout the Chicago region.

 

“Last summer we set out to become the preeminent real estate service provider and operator in the Midwest— one that is authentic and provides a platform to be creative, agile and strategic for our partners,” said Showalter, Managing Director of the Chicago office.

 

“This exceptional group of people adds tremendous value to the culture we have built in Chicago, and we look forward to watching them put our unique platform to work.”


Adam Showalter 

 

The team joins other notable experienced hires, Jessica O’Hara and Brian Duffy, who, along with Russo and Showalter, have amassed a third-party office leasing portfolio of over 3 million square feet of third-party office leasing.

 

 With recent prominent transactions such as the 75,000-square-foot lease at Riverview at Roscoe and 50,000 square-foot lease at The Fields, the Chicago office is actively recruiting highly talented, like-minded individuals to join their upward growth trajectory.



Lauren Sweeney

 

 President of Stream Realty Partners Chris Jackson said, “We are incredibly excited for this team to join Stream and continue the accelerated growth we have seen in the Chicago market, as well as across our platform nationally.

 

"Our people are the most important part of our business and this team blends right in with Stream’s esteemed culture and will add tremendous value to clients and prospects.”

 

 CONTACT:

 

Lauren Sweeney

Stream Realty Partners Director

National Public Relations & Communications

 713.300.0275

 

www.streamrealty.com.

LaVie SouthPark apartments in Charlotte, NC purchased by Starlight

Andrea Howard
  

 CHARLOTTE, NC – JLL Capital Markets announced it has closed the sale of LaVie SouthPark, a 321-unit multi-housing property located at 5725 Carnegie Blvd. in Charlotte, North Carolina.

 

JLL represented the seller to complete the sale to Starlight.  


LaVie SouthPark,  a 321-unit multi-housing property,
 5725 Carnegie Boulevard,  Charlotte, NC

 

LaVie SouthPark offers studio, one- and two-bedroom floorplan options, and contain modern finishes with stainless steel appliances and granite countertops in kitchens.

 

Allan Lynch

 The NGBS Green-registered building has sustainable features and offers community amenities including a lush saltwater pool with a sundeck and lounge; clubroom; business center with coworking space; and a two-story fitness center with a yoga studio.

 

LaVie SouthPark sits in one of Charlotte’s most desirable communities, boasting a thriving business environment (more than 67,000 employees and 4.64 million square feet of office space), lively shopping and entertainment venues (including Simon Property Group-owned SouthPark Mall) and substantial infrastructure improvements (such as the SouthPark Cultural Loop).

 

The Cultural Loop is a pedestrian path that will eventually connect SouthPark’s three most visited areas: Piedmont Row, Morrison Regional Library and Phillips Place.


Caylor Mark

The JLL Capital Markets team representing the seller was led by Andrea Howard, Allan Lynch, Caylor Mark, John Currin and Jeff Glenn.

 

“Affluent suburban assets with institutional pedigrees continue to attract both foreign and domestic capital to the Carolinas,” said Howard.

 

“The seller’s recognition of SouthPark’s livability amid a high-growth Charlotte market proved more prescient each year of its ownership, culminating in a successful transaction to Canadian-based Starlight.”

 

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



John Currin

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales 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 our newsroom.

 

 

About JLL


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


Jeff Glenn

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 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:

 

 Natalie Passarelli

 JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

 

Saturday, January 23, 2021

Stos Partners Enters Phoenix Metro Market with Acquisition of 227,000-SF Single-Tenant Industrial Asset for $16 Million

227,000-SF Single-Tenant Industrial Asset, 
10300 West Buckeye, Tolleson, AZ
  

PHOENIX, AZ – Stos Partners, one of the most active commercial real estate investment and management firms in San Diego County, has acquired its first property in the Phoenix Metro area with the acquisition of a 227,000 square-foot, single-tenant, industrial asset in Tolleson, Arizona.

Bob Broyles

 The property was acquired off-market from a private seller for $16.35 million. The property is located at 10300 W. Buckeye in Tolleson, Arizona. Bob Broyles at Colliers and Jeff Hays at Commercial Properties represented both the buyer and seller.

 According to CJ Stos, Principal at Stos Partners, our team worked quickly to acquire the asset all-cash in under 30 days from deal submission to closing.

 “We are extremely nimble and well-capitalized with the ability to move quickly to get deals over the finish line,” says Stos. “Our ability to close in less than 30 days amidst the challenges of the pandemic is demonstrative of our deep expertise as an owner.

Jeff Hays

 "This acquisition represents our entrance into the Phoenix Metro market as part of a focused strategy to expand in the region. We anticipate this being the first of a number of future acquisitions in the area.”

 The property is 100% occupied and located in one of the most in-demand and fastest growing industrial submarkets in Southwest Phoenix.

 “During escrow, we were able to secure a new lease with the existing tenant for an additional five-year term,” explains Jay Boyle, Executive Vice President at Stos Partners. “Our ability to secure the new lease speaks to our strength as an operator, as well as the quality of the market and the building.”


  CJ Stos


In fact, the Southwest Phoenix market has experienced tremendous leasing velocity and growing institutional ownership over the last several years.

 “Tolleson has quickly emerged as the preferred infill destination for large distribution and manufacturing tenants in the region,” says Jason Richards, Partner with Stos Partners. “This made this a very attractive acquisition as there will continue to be strong demand for the asset over time.”

 The property was built in two phases in 2005 and in 2016. It features a variety of high-quality amenities including 32’ clear heights, and dock high loading doors, among several other features.

  Contacts: 

Katie Haga / Lexi Astfalk

Brower Group

(949) 438-6262

khaga@brower-group.com  

www.stospartners.com.

Friday, January 22, 2021

Home2 Suites brings a Modern Extended Stay Option to Belmont, NC

Margie Rainey 

Belmont, NC -- Strand Hospitality Services, a leading regional hotel management company, is proud to announce the opening Home2 Suites by Hilton Charlotte Belmont.

The hotel was developed by Montcross Hawley Ave. LLC, which is made up of local investment partners Warren Norman Company, Belmont Land & Investment Company and Belmont Abbey.

The new hotel features beautifully designed suites with all the comforts of home, including two outdoor patios for guests to relax and unwind. 

Jay Keller
General Manager Margie Rainey and Director of Sales Susan Mosk, along with their team of seasoned hospitality professionals, have been instrumental in the launch of this new hotel.

"Our hard work has come to fruition, and we are excited to provide the Belmont community with new all-suites rooms that are modern, affordable and convenient to travelers looking for short term or extended stays in Belmont," Rainey said.

 It is located in the heart of Belmont near Charlotte Douglas International Airport, Belmont Historic District, multiple parks and state forests.

 "We are thrilled to announce the opening of the Home2 Suites by Hilton Belmont, North Carolina," said Jay Keller, chief operating officer for Strand Hospitality Services.

 "We are honored to once again work with our investment partners, Warren Norman Company, Belmont Land and Belmont Abbey. We look forward to bringing this dynamic hotel concept to the market offering spacious accommodations that are ideal for business or leisure travelers alike."


Home2 Suites by Hilton Charlotte Belmont
 
871 Hawley Avenue, Belmont, NC
just off exit 27 on I-85 North in metro Charlotte, NC

 The hotel offers 107 all-suite accommodations featuring fully equipped kitchens and modular furniture allowing guests the flexibility to customize their suite to their style and preference.

 Contacts: 

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

 

 Amanda Bryant

 abryant@strandhospitality.com

404-481-0792

 

CIP Real Estate Acquires Multi-Tenant Industrial Park in Hayward, CA for $33 Million

Cabot Business Park, 23575, 23595, 23785 Cabot Boulevard
and 3777 Depot Road in Hayward, CA
 

IRVINE, CA, Jan. 22, 2021– CIP Real Estate LLC has acquired Cabot Business Park, a “best in class” flex/industrial park located in Hayward, California encompassing over 140,000 square feet, for $33.0 million in an off-market transaction with Canyon Partners Real Estate. 


Eric C. Smyth
CIP Real Estate LLC represented itself in the transaction.  The seller, Canyon Partners Real Estate, was represented by Robert Gilley, Kevin Moul and Andy Zighelboim of Colliers International’s San Francisco office.

The property is located at 23575, 23595, 23785 Cabot Boulevard and 3777 Depot Road in Hayward, California.

 The asset is comprised of 50 suites that range from 1,116 to 20,101 square feet. 

 The property was approximately 90% leased at the time of purchase to quality tenants such as SGS North America, Forensic Analytical Sciences, Seika Machinery, and Fastenal Company.

“There is high demand in the multi-tenant industrial market and the acquisition of Cabot Business Park will add strong value to our Bay Area industrial portfolio,” says Eric Smyth, CEO of CIP Real Estate LLC. 

Robert Gilley

 “These types of smaller bay flex/industrial parks rarely come available to purchase, particularly of this quality and location, so we acted quickly to secure the property and close within 30 days on an all-cash basis at year-end.”

Under its previous ownership, a partnership of Canyon Partners Real Estate on behalf of CalPERS, the property underwent renovations such as HVAC improvements, roofing, and other infrastructure enhancements.  

CIP Real Estate LLC plans to invest over $600,000 in immediate capital expenditures to the park, including interior renovations to convert larger units to smaller, more marketable suites.

Kevin Moul 

Situated just north of the I-92 freeway and the San Mateo Bridge, and only 25 minutes from San Francisco, Cabot Business Park provides a high-quality, low-cost alternative for tech and industrial companies in comparison to similar product located in the Peninsula markets.

“Small bay industrial/flex units are in very short supply in the East Bay, particularly at the entrance to the bridge crossings such as the nearby San Mateo Bridge and the 92 Freeway,” Smyth added. 

 “This property is a rare find, strategically located along the stretch of the I-880, the major north-south corridor connecting San Jose to Oakland.”

About CIP Real Estate LLC

CIP Real Estate LLC is a full-service real estate investment company focused on the acquisition, repositioning, re-branding, and management of industrial assets throughout West Coast, Southeast, and Texas markets. 

Andy Zighelboim

 Founded in 1995 and based in Irvine, CA, the company owns and manages approximately 6.7 million square feet of quality properties, with offices in Ontario (CA), Riverside (CA), Hayward (CA), Las Vegas, Charlotte, and Atlanta. www.ciprealestate.com

Contact: 

Jordan Kruk

Kitchen Table Marketing + PR

714.928.5085

 Jordan@kitchentablepr.com

 

Wednesday, January 20, 2021

Velocis acquires first multi-housing asset, Beverley, in Charlotte, NC

 Andrea Howard

CHARLOTTE, NC – JLL Capital Markets announced it has closed the sale of Beverley, a 201-unit, five-story elevatored multi-housing property located in Charlotte, North Carolina. 

 

Allan Lynch


JLL represented the seller, Proffitt Dixon, in completing the sale to the buyer, Velocis. This marks the first multi-housing acquisition by Velocis.  


Built in 2020, Beverley consist of one- and two-bedroom floorplan options with luxury wood plank style flooring, designer kitchen packages, granite countertops, stainless steel appliances, oversized windows, spacious balconies and patios, among other high-end features.

 

Community amenities also compliment the apartments’ luxury in-unit finishes including a resort-style saltwater pool and spa; deluxe clubhouse; rooftop deck with a private club exclusive to residents; fitness center with Peloton bikes and a yoga studio; and an outdoor grilling area with fire pits.


 

John Curin

Beverley is centrally located within Charlotte’s premier suburban submarket, Ballantyne. Boasting blue chip employment, top area schools, upscale dining and shopping options, and proximity to SouthPark, South End and Uptown via I-485, residents experience the perfect balance of luxury and practicality.

 

The JLL Capital Markets team representing the seller was led by Andrea Howard, Allan Lynch, John Curin, Caylor Mark, and Jeff Glenn.


“Beverley represents the highest level of Class-AA apartment living in the Charlotte suburbs, coupled with an exceptional location in the heart of Ballantyne,” said Howard.

 

 “As evidenced by outstanding leasing momentum since opening, Proffitt Dixon crafted an immaculate community that perfectly caters to the area’s renter-by-choice cohort and will be an excellent first asset for the new Velocis multi-housing venture.”

 


Jeff Glenn

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 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 our newsroom.

 

 About Proffitt Dixon

 

Proffitt Dixon Partners is a multifamily and self-storage investment and development firm with a focus on Class-A apartment communities. 


Caylor Mark
 The firm is active in the Carolinas, Georgia and Tennessee and has closed transactions valued at more than $1 Billion since 2008.

  

About Velocis

 

Velocis is a private equity real estate investment firm, active in the acquisition, operation/management and disposition of commercial real estate in the United States. Additional information about Velocis can be found at velocis.com.

 


Contact: 

 

Natalie Passarelli

 JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

 jll.com.

 

Seefried Industrial Properties Hires New Vice President of Development

Brian Novak

 CHICAGO, IL - Seefried Industrial Properties is proud to announce the hiring of Brian Novak as Vice President of Development, effective January 4, 2021.        

Based out of Seefried’s Chicago office, Mr. Novak is charged with oversight of development, land acquisitions, and project management of build-to-suit and speculative industrial projects throughout the Midwest.       

Mr. Novak joins Seefried with a strong history of strategic project management and critical problem-solving experience in addition to robust knowledge of the construction and commercial real estate business.

 Mr. Novak has 30+ years of experience in the industry and most recently served as Vice President at Northern Builders, Inc. where he was responsible for many aspects of development and construction from inception through project close-out including due diligence for land acquisition, all facets of pre-construction, and construction coordination. 

 “Brian has a proven track record of executing complex development projects while meeting budget and managing decisions in critical project milestones,” said Dave Riefe, Senior Vice President of Seefried’s Midwest region. 

Dave Riefe

 “We are excited to have Brian join our team and know his experience and expertise will ensure the success of future projects as we continue to grow our development portfolio throughout the region.”

 Mr. Novak earned a BS in Architectural and Building Construction Engineering Technology from Milwaukee School of Engineering.

  

  CONTACT:

 Barbara Bennett

Marketing Coordinator  

 Seefried Industrial Properties

3333 Riverwood Parkway SE |

 Suite 200Atlanta, GA 30339T: 

 (770) 702-8207E: 

 bbennett@seefriedproperties.com


Marshall Hotels & Resorts Announces Completion of Multi-Million-Dollar Renovation of 298-Room DoubleTree by Hilton Washington, D.C. North/Gaithersburg; Lesly Connolly Named Director of Sales & Marketing

 Lesly Connolly
 

 Gaithersburg, MD —Marshall Hotels & Resorts, a leading hotel management and services company that operates properties nationwide announced the completion of a full, multi-million-dollar renovation of the 298-room DoubleTree by Hilton Washington, D.C. North/Gaithersburg. 

 Marshall also announced that Lesly Connolly has been named director of sales & marketing.  In her new role, she will be responsible for reintroducing the hotel to travelers and area residents alike.

 “With the completion of this top-to-bottom renovation, the DoubleTree by Hilton Washington, D.C. North/Gaithersburg immediately becomes the ‘newest’ hotel with the latest amenities and safety protocols available,” said Mike Marshall, president and CEO, Marshall Hotels & Resorts. 

Mike Marshall

 “While the property has been an active and proud member of the community for years, this complete refurbishment has taken this from ‘your grandfather’s hotel’ to the freshest upscale hotel product in the market. 

 "The hotel underwent a complete transformation, focusing on public spaces, guest rooms, amenities, meeting space and exterior improvements. 

 

"We look forward to serving the community for years more to come as we provide superior guest service and the world-famous DoubleTree chocolate chip cookie to discerning business and leisure travelers to the D.C.-Metro area.”

 Situated at 620 Perry Parkway, the 12-story hotel is just a short drive or train ride from Washington, D.C. and is convenient to most cities in Maryland, including Rockville, Bethesda, Germantown and Frederick. 

  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