George Oliver Secures Next Experiential Office Transformation: Hayden Station in Downtown Tempe, AZ

 

Hayden Station in Downtown Tempe, AZ
 spans 107,508 square feet, including one five-story
office building and four two-story mixed-use buildings
 that are home to office, retail and restaurant space.

 PHOENIX, AZ – Phoenix-based developer George Oliver has announced plans for its next Arizona experiential office transformation: the five-building Hayden Station mixed-use office campus, located on the southwest corner of Mill Avenue and Third Street in the heart of downtown Tempe.

 Built in 1986, Hayden Station has served as a downtown Tempe landmark for more than three decades. It spans 107,508 square feet, including one five-story office building and four two-story mixed-use buildings that are home to office, retail and restaurant space.

The five-story tower offers views of downtown Tempe, Tempe Town Lake and Hayden Butte.

Curt Kremer

 “From a live-work-play perspective, this location is our most exciting infill, campus-style repositioning strategy to date,” said George Oliver Founder and Managing Partner Curt Kremer.

 “It has everything in place – great existing structures, dynamic employee and tenant demographics, and a strong mixed-use character – to deliver one of the best George Oliver concepts in the country.”

 With an approximate $14 million capital improvement budget, George Oliver will upgrade Hayden Station to an unmatched experiential office class that incorporates retail and restaurant space, and establishes flexible, open concept interiors with the high-touch design that its users have grown accustomed to.

Steve Lindley

George Oliver purchased the Hayden Station property in an off market transaction. The acquisition totals all five Hayden Station buildings, with an attractive 4.2/1,000 parking ratio. 

Steve Lindley, Cushman & Wakefield Executive Director, represented the property seller in the transaction.

Scott Boardman

 “This is a notable transaction for the market – completed in one of the tightest, most sought-after office locations in the country, with office rents approaching $50 per-square-foot, continued tenant demand and a low 8.1 percent office vacancy,” said Lindley.

“This off-market deal is a testament to George Oliver’s reputation and their ability to add exponential new value and energy to one of downtown Tempe’s longstanding mixed-use destinations.”

The design and architecture for Hayden Station is being led by George Oliver Design. Scott Boardman and Dave Carder of Cushman & Wakefield will serve as the project’s exclusive leasing brokers.

 

Dave Carder

Hayden Station is part of a growing local portfolio of notable George Oliver projects including CASA in Phoenix’s Uptown neighborhood, The Alexander and The Johnathan in downtown Chandler, and Lofts at The District in North Scottsdale.

  CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

www.georgeoliver.com.

NAIOP South Florida Selects 2021 Awards of Excellence Finalists

 Jules R. Morgan

 

  FORT LAUDERDALE, FL –NAIOP South Florida, the Commercial Real Estate Development Association, has announced the Awards of Excellence finalists for 2021 and confirmed Thursday, May 20 for the 42nd Awards of Excellence reception and dinner at the Fort Lauderdale Marriott Harbor Beach Resort & Spa, 3030 Holiday Dr.  

 

The annual celebration, which acknowledges excellence throughout the South Florida commercial real estate (CRE) industry, will be held outdoors with limited capacity from 5:30 to 9 p.m.  

 

"The pandemic has presented many unanticipated challenges for our industry and beyond. The industry has also witnessed incredible business opportunities, and that commercial real estate can pivot here in South Florida," said NAIOP South Florida Executive Director Jules R. Morgan.

Stephanie Rodriguez

"We can't wait to unify our community in celebration this year as we look forward to honoring those accomplishments of our members."   

 "There were so many exceptional nominations to review this year, even in a global pandemic. It has been wonderful to witness so many of our industry peers continuing to thrive in their professional endeavors despite the many challenges we have all faced," noted Stephanie Rodriguez, 2020 NAIOP South Florida Immediate Past President and this year's Awards of Excellence chair, and regional senior vice president, Duke Realty.

Michael Oretsky

 
"This year was about resilience and perseverance, and the CRE industry has done a tremendous job exemplifying these values. Congratulations to all of our distinguished finalists on a job well done."  

 The 2021 Awards of Excellence categories and finalists are: 

 

Sale of the Year 

 

Institutional 

·         Bayview Corporate Tower, Cushman & Wakefield 

·         Easton & Associates’ $15.5M Sale of Palm Beach County Warehouse, Cushman & Wakefield 

·         Elion Partners Acquisition of Former Rexall Sundown Warehouse, Cushman & Wakefield 

 

Private 

Industrial 

×        19th Avenue Business Park, Marcus & Millichap 

×        Bang Energy Portfolio Sale, CBRE, Inc., Helms Development & Core5 

×        DemeTech USA, State Street Realty 

×        Invincible Boats, CBRE, Inc. 

Alex VanDresser 

 Office 

o        3700 Lakeside Drive, Butters Realty & Management 

o        Golden Bear Plaza, MHCommercial Real Estate Fund 

o        Miramar Tech Center, Cushman & Wakefield 

 

Industrial Lease Transaction of the Year 

·         First Cypress Commerce Park, Colliers International 

·         Lowe's Home Centers, LLC, CBRE 

·         Miami 27 lease to Intcomex, Colliers International 

 

Office Lease Transaction of the Year 

·         Morgan Stanley, JLL 

·         Starboard Cruise Services, Cushman & Wakefield 

·         TradeStation Lease extension at Crossroads Office Park, Avison Young 

 

Rookie of the Year 

×        Michael Oretsky (CBRE) 

×        Alex VanDresser of Cushman & Wakefield 

 

Broker of the Year 

×        Douglas Mandel of Marcus & Millichap 

×        Jaime Sturgis of Native Realty 

×        George Pino of State Street Realty 

 

Broker Team of the Year 

 

Industrial 

×        CBRE team of L. L. Dinner, L. Genet, T. O'Loughlin, M. Oretsky, J. Zebede 

×        Cushman & Wakefield team of M. Etner, R. Etner, U. Kauhi, M. McAllister, C. Metzger,
J. Miller, C. Thomson, A. VanDresser  

×        State Street Realty team of C. Cabielles, J. Gonzalez, E. Lyden, G. Pino, F. Trelles 

  River Landing Shops & Residences, Miami, FL

 

Investment 

×        CBRE’s South Florida Institutional Capital Markets Team of A. Chilgren, A. Julian, C. Lee, J. Lobon, M. Minaya, T. Rappa, R. Rose 

×        Cushman & Wakefield Capital Markets Team of M. Alcivar, M. Ciadella, J. Hochman,
G. Miller, D. Montazemi, S. O’Donnell  

 

Office 

×        Avison Young’s Landlord Agency Team, Ft. Lauderdale of L. Blumer, J. Cope, G. Martin 

×        Blanca Commercial Real Estate Tenant Rep Team of R. Carballo, C. Harak, D. Linares,
J. Martin 

×        The Dream Team at Butters Realty & Management of S. Butters, C. Fleischer,
D. Lunsford, M. McDonough 

 

Costex Corporation Headquarters, Miami, FL

Retail 

×        JLL Miami Retail Team of K. Fernandez-Espinosa, A. Kaye, L. Koniver, R. Romero,
Z. Winkler 

 

Economic Impact Deal of the Year 

×        Miami Central Commons, Foundry Commercial 

×        Pursuit Boats, Economic Development Council of St. Lucie County 

×        River Landing Shops & Residences, Urban-X Group 

 

Project of the Year 

×        Costex Corporation Headquarters, Link Construction Group 

×        Port Everglades International Logistics Center, Avison Young & CenterPoint Properties 

×        River Landing Shops & Residences, Urban-X Group 

×        The Main Las Olas, Stiles 

Fort Lauderdale Marriott Harbor Beach Resort & Spa,

Developer of the Year 

·         Bridge Development Partners 

·         Butters Construction & Development 

·         Stiles 

·         Urban-X Group 

 

Tickets for the Awards of Excellence are $175 for NAIOP members and $225 for non-members. Sponsorship opportunities are also available.

 

 To attend, visit naiopsfl.org/events. For more information, please visit naiopsfl.org, email naiop.info@naiopsfl.org or call 

954-990-5116. 

 

 CONTACT:

 Samantha Van Nuys

O: 954.776.1999  ext. 115 |C: 954.648.9132

6451 North Federal Highway, Suite 1200 |Fort Lauderdale, Florida 33308
More than 100 partner agencies in markets worldwide

naiop.org. 

  naiopsfl.org. 

 

Mission-critical office complex in D.C. area trades

Plaza East office complex, 14291 and 14295
Park Meadow Drive

                                                  Chantilly, VA

 

  WASHINGTON, DC – JLL Capital Markets announced  it has closed the sale of Plaza East, a two-building, approximately 247,000-square-foot office complex located in Chantilly, Virginia.

Matt Nicholson

JLL represented the seller, a venture between affiliates of Rockpoint Group and MRP Realty, and procured the buyer, The Meridian Group. Additionally, JLL worked on behalf of the buyer to secure acquisition financing.

 Plaza East was built in 2007 and is fully leased to seven tenants with approximately nine years of weighted average lease term. The largest tenant in the complex is Perspecta, Inc.

 Located at 14291 and 14295 Park Meadow Dr., the complex is in the heart of the cyber-intelligence hub of the Westfields submarket.

Jim Meisel

This location offers immediate proximity to numerous federal demand drivers, including the National Reconnaissance Office, the FBI Cyber Division and CIA.

Additionally, the area boasts a robust amenity base of retail, dining and entertainment options along the Route 28 corridor.

 The JLL Capital Markets team representing the seller was led by Matt Nicholson, Jim Meisel, Andrew Weir and Dave Baker. Financing efforts for the buyer were led by JLL Capital Markets’ Paul Spellman and Dan McIntyre.

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

Andrew Weir

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 Rockpoint

Rockpoint Group, L.L.C. (“Rockpoint”) is a real estate private equity firm and Registered Investment Adviser headquartered in Boston and with additional primary offices in San Francisco, Dallas and London.

 Dave Baker

Rockpoint employs a fundamental value approach to investing and targets select product types located in major markets in the United States.

Rockpoint utilizes a consistent strategy across distinct return profiles through its opportunistic and growth and income investment programs.

Rockpoint targets assets with intrinsic long-term value, at attractive prices relative to replacement cost and stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations.

Since 1994, Rockpoint’s co-founders with others have sponsored 15 commingled funds and related co-investment vehicles through Rockpoint and a predecessor firm. 

Paul Spellman 

In total, they have raised approximately $25 billion in capital commitments and invested or committed to invest in 426 transactions with a total peak capitalization of approximately $64 billion (inclusive of fund equity, co-investor equity and debt).

To learn more about Rockpoint Group, visit rockpoint.com.

 About MRP Realty

MRP Realty delivers a full array of real estate services, including acquisition and disposition, development and construction management, property management, asset management and financial reporting services.

Dan McIntyre

Since its inception in 2005, MRP has deployed $4.9 billion in total capitalization, an average of over $330 million per year. Its combined development assets total more than 25 million square feet, with an additional 10+ million square feet under management.

 About The Meridian Group

Over its 26-year history, Meridian has acquired over 14 million square feet of office, residential, hotel, and mixed-use space as well as over 800 acres for development - primarily in the Washington, DC metropolitan area. This local focus, together with extensive industry experience and an unparalleled perspective, has resulted in Meridian's powerful record of value creation. 

 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

Stan Johnson Co. Brokers 1031 Exchange Sle of Fesenius Medical Care Facility in Phoenix, AZ for $9.5 Million

Fesenius Medical Care dialysis facility,
 450 South Gilbert Road, Phoenix, AZ

 PHOENIX, AZ -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 13,416-square-foot medical property leased to Fresenius Medical Care.

 The dialysis facility is located at 450 South Gilbert Road in Phoenix, Arizona. An individual 1031 exchange buyer based in New Jersey purchased the asset for $9.5 million, reflecting a 5.01 percent cap rate.

 The buyer was represented by Jason Maier of Stan Johnson Company. The seller was a Southlake, Texas-based developer.

“The buyer was putting together a portfolio and was seeking diversification,” said Maier, Senior Director in Stan Johnson Company’s New York office.

Jason Maier 

“Arizona is a tremendous growth market with a significant amount of medical office development. And while there are some great operators in the medical space, very few have investment grade credit.

"We were able to justify the compressed cap rate due to the strong lease guarantee combined with the property’s new construction and overall quality of the real estate.”

The build-to-suit facility was constructed on 2.01 acres in 2019 and is in close proximity to three major hospitals including Mercy Gilbert Medical Center. The asset features a long-term net lease with annual increases.

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com