Monday, August 9, 2021

Riverside secures partner and finalizes SDP Submission for 30-story office tower in downtown Denver, CO

 

1900 Lawrence, downtown Denver, CO

DENVER, CO,  Aug. 9, 2021 – Riverside Investment and Development has announced that it is partnering with Convexity Properties to initiate development of 1900 Lawrence, a proposed state-of-the-art office tower located in downtown Denver.


 Julie Rhoades

 

 In addition, the project team has taken a critical step toward its planned early 2022 construction commencement by filing the project’s site development plan with the City and County of Denver.

 

The 30-story tower at 1900 Lawrence is comprised of 700,000 rentable square feet of office space, including 11 tenant floors equipped with private outdoor terraces.


Maddy Stevenson

Its central business district location at the nexus of Denver’s LoDo and Ballpark neighborhoods will offer future tenants protected views of the front range and immediate access to the city’s core. 

 

JLL Managing Directors Jamie Roupp and Michael Crane, Vice President Julie Rhoades and Associate Maddy Stevenson serve as the project’s exclusive leasing brokers.


Jamie Roupp 

 

“We are excited to be moving 1900 Lawrence forward and are confident it will become an iconic addition to Denver’s already impressive skyline,” said Anthony Scacco, Chief Operating Officer of Riverside Investment and Development.


Anthony (Tony) Scacco

 

“Convexity Properties is a trusted current partner of Riverside’s on our 320 South Canal office tower in Chicago, and we are thrilled to now collaborate with them on another best-in-class commercial office development.

 

"Our goal for 1900 Lawrence’s design is to maximize each aspect of the occupant experience including technology, efficiency and employee health and wellness, and we believe the building will go above and beyond in meeting the new demands placed on office space by employers and employees alike.”


 Michael Crane

David Nelson of Convexity Properties adds, “We are excited to expand our partnership with Riverside and believe that 1900 Lawrence will deliver ideal attributes to the best high-rise office location in Denver.”

 

The office tower is slated to be ready for first tenant occupancies in the first quarter of 2024.


David Nelson 

 

According to JLL’s Q2 2021 Denver Office Insight report, tenant demand for Denver office space improved by a quarter-million square feet over the last quarter.

 

 Denver’s overall economic recovery is now on pace with the U.S., with expectations that the market will bounce back sooner than most other metros and become one of the nation’s most attractive areas in the years to come.

 

“There is a measurable trend of flight to quality in Denver’s post-pandemic office environment, and 1900 Lawrence will set a new standard for excellence.” said Roupp.

 

“Based on Denver’s strong market fundamentals and the absence of large, high-quality blocks of office space, we are anticipating great interest.”


CONTACT:

 

Stacey Hershauer

Phone: +1480 600 0195                

Email: stacey@focusaz.com

www.jll.com. 

www.riversideid.com.

 www.1900lawrence.com

 

Lendlease Appoints Rob Ledder as Operational Director of Life Science

 

Rob Ledder

NEW YORK. NY, Aug. 9, 2021 — Lendlease (ASX: LLC), a global real estate group, today announced the appointment of Rob Ledder to the role of Operations Director, Life Science, for its Americas Region, effective August 9.

 

Ledder will be based out of Lendlease’s Princeton, N.J., office and will report directly to Mike Fratianni, Managing Director, Construction.

 

“The appointment of Rob to this role reflects our confidence in his proven ability to continue to deliver safe, sustainable and technology-forward solutions for our clients,” said  Fratianni.

 

 “He will help lead the company in this critical area as we continue to deliver bespoke, cutting-edge solutions for many of the country’s leading biomedical companies.” 


Mike Fratianni


“During my career, the majority of it spent with Lendlease, I have managed an array of technically complex and innovative Life Science projects,” said Ledder.

 

“In this new role, I will ensure Lendlease delivers market-leading results as we continue our mission to create value through places where communities can thrive.”

 

Ledder holds a Bachelor’s Degree, Civil Engineering, and M.B.A. from Lehigh University.

 

 

CONTACTS:

 

Jeremy Barewin, jbarewin@taylorjohnson.com, (312) 267-4533

 Diane Nevindiane.nevin@lendlease.com, (773) 610-2862

 www.lendlease.com.

 

RKW Residential Significantly Expands Carolinas Portfolio; adds five communities totaling nearly 850 apartments and launches leasing at two new projects

 

Marcie Williams 

Charlotte, NC, Aug. 9, 2021 — RKW Residential, the premier multifamily management firm based in Charlotte, continues to grow in its home base.

The firm recently took over management and leasing at three existing apartment communities in the Carolinas and was awarded two development assignments.

 The additions bring nearly 850 units to RKW’s rapidly expanding portfolio. RKW also just launched leasing at Marlowe Place in Charlotte and Mill One in Moorseville, North Carolina.

Recent additions bring nearly 850 units
 to RKW’s rapidly expanding portfolio.

 Four of RKW’s new assignments are owned or being developed by Levine Properties, a Charlotte-based private firm with more than 35 years of experience developing, owning and operating multifamily properties.

 RKW is now overseeing management and leasing at the following Levine communities:

 Crest on Providence, a 473-unit community with one, two, three and four-bedroom townhome-style apartments in South Charlotte’s Lansdowne neighborhood

  • Crest Gateway, a boutique community with 40 units in Uptown Charlotte
  • The Julien, a 105-unit building steps away from historic Plaza Midwood and 10 minutes from Uptown Charlotte

In Charlotte’s Wesley Heights neighborhood, Levine is developing a 96-unit community branded as The Calvert. 

RKW is providing pre-development consulting services at the project, with an agreement to oversee leasing and management upon its completion.

 Crest on Providence apartments, a 473-unit
community with one, two, three and
 four-bedroomtownhome-style apartments
 in South Charlotte’s Lansdowne neighborhood

Elsewhere in Charlotte, RKW was awarded Centro Square – a 132-unit apartment building with 7,300 square feet of ground-floor commercial space.

This is RKW’s second partnership with Ascent Real Estate Capital, which is developing Centro Square in a joint venture with Centro Cityworks. RKW led the successful lease-up of the venture’s Centro Railyard, which was Charlotte’s first micro-unit project.

 Centro Square is part of The Square, a mixed-use development bringing 150,000 square feet of Class A office space to the city’s South End neighborhood.

 “We are thrilled to embark on a new partnership with Levine Properties and expand our relationship with Ascent,” RKW President Marcie Williams said.

The Square,  a mixed-use development
 bringing 150,000 square feet of Class A
 office space to Charlotte's
South End neighborhood.

“RKW is able to consistently add prime communities and developments in the Carolinas because of our talented and dedicated people.”  

 In late 2020, RKW made its first appearance in the Charlotte Business Journal “Fast 50” ranking of the region’s fastest-growing private companies. RKW ranked No. 16 in the 2020 list.

 RKW was recognized by Multi-Housing News as the nation’s second-fastest growing multifamily management company in the publication’s 2020 rankings. The company appeared on the Multi-Housing News 2020 “Top Property Managers” list for the second consecutive year. 

 

 CONTACT:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 

www.rkwresidential.com.

 

 

 

Sunday, August 8, 2021

Pacific Industrial Breaks Ground on 824,000-SF Industrial Project in Salt Lake City, UT

Pacific Summit Logistics Center,
 an 824,000 square-foot, cross-dock
 industrial building in Salt Lake City, UT

 Salt Lake City, UT – Pacific Industrial, a privately held investment firm that focuses on the development and acquisition of industrial real estate in select west coast markets, announced it has broken ground on the Pacific Summit Logistics Center, an 824,000 square-foot, cross-dock industrial building in Salt Lake City, Utah. 

Neil Mishurda



Pacific Industrial purchased the 48-acre property in an off-market transaction and immediately commenced construction the day after closing, according to Neil Mishurda, Co-Founder of Pacific Industrial. 

The project will be best-in-class and will feature 131 dock high doors in a cross-dock configuration,oversizedtruck courts that are up to 213 feet deep, and a minimum clear height of 40 feet. 

“The size and layout were specifically designed to meet the needs of large logistics firms,” explains Mishurda.

“The project is already drawing attention from major distributors, which we believe is demonstrative of the exceptional quality of the development and the growing demand for large, modern Class-A industrial facilities throughout the region.” 

New Salt Lake City International Airport 

Located in Salt Lake City’s most sought-after industrial submarket, the Northwest Quadrant, Pacific Summit Logistics Center will sit adjacent to the recently expanded Salt Lake City International Airport and benefits from excellent access to the I-80, I-215, I-15 freeways as well as the new Mountain View Corridor, a five-lane key logistics highway.  

“This strong location, coupled with the current lack of availability in the Northwest Quadrant strategically positions Pacific Summit Logistics Center to attract a top tier business for occupancy,” adds Mishurda. 

Pacific Summit Logistics Center will be located at 885 N John Cannon Drive in Salt Lake City, Utah and will be completed in Q2 2022. 

 

CONTACT:

Lisa James / Lexi Astfalk 

Brower Group 

(949) 438-6262 

ljames@brower-group.com 

www.Pac-Industrial.com 

I-24 Frontage Attracts EverWest to Nashville’s Largest Industrial Submarket; Company acquires 267,597-SF warehouse building for $19.5 million

 

Tyler Williams
NASHVILLE, TN – EverWest Real Estate Investors has completed its third metro Nashville industrial acquisition since the start of the pandemic with the $19.5 million purchase of 2699 Highwood Boulevard, a fully occupied warehouse asset at the interchange of I-24 and Sam Ridley Parkway in Smyrna, Tennessee.

 The 267,597-square-foot building is occupied by Goggin Warehousing LLC, who sold the property under a sale-leaseback agreement. Goggin will continue to fully occupy the building.

Max Smith and Zac Cypress from Colliers International brokered the transaction between EverWest and Hodges Investments.

Max Smith 
The acquisition brings EverWest’s Nashville industrial footprint to almost 550,000 square feet.

 The company continues to seek industrial core, core-plus. value-add and development opportunities across the market.

“Nashville, and particularly the La Vergne – Smyrna corridor of I-24, is under tight industrial supply constraints, which has accelerated rent growth,” said EverWest Director of Southeast Acquisitions Tyler Williams.

“This asset allowed EverWest to acquire a well-maintained and highly functional industrial building with an interstate-fronting location, which is a timeless logistical advantage.”

Zac Cypress
 Located in metro Nashville’s largest industrial submarket, the 2699 building features 30’ to 38’ clear height, large truck courts, high dock door count, a food-grade certified interior and building depths suitable for multi-tenant configurations.

 It is situated along I-24, providing immediate interstate access and signage benefits.

About EverWest Real Estate Investors LLC

EverWest Real Estate Investors LLC is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors.

2699 Highwood Boulevard, a fully occupied warehouse
 asset at the interchange of I-24 and Sam Ridley
 Parkway in Smyrna, TN

 EverWest has $3.6 billion in assets under management as of second quarter 2021.

 The firm’s clients invest through separately managed accounts and commingled funds.

EverWest is headquartered in Denver with regional investment offices in New York City, Charlotte, Los Angeles and San Francisco metro areas.

EverWest is a wholly owned subsidiary of Canada-based GWL Realty Advisors.

 

CONTACT:


Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.com

 www.everwest.com or www.gwlra.com

 

DALLAS, TX – JLL Capital Markets announced it has closed the sale of and arranged acquisition financing for a six-property shallow bay industrial portfolio totaling 289,225 square feet in prime infill locations throughout the Dallas-Fort Worth metro area.

Romit Cheema
 
DALLAS, TX – JLL Capital Markets announced it has closed the sale of and arranged acquisition financing for a six-property shallow bay industrial portfolio totaling 289,225 square feet in prime infill locations throughout the Dallas-Fort Worth metro area.

JLL represented and marketed the portfolio on behalf of the seller, CanTex Capital. The Bendetti Company acquired the assets from CanTex after going through a competitive process.

 Additionally, working on behalf of the new owner, JLL placed the three-year, floating-rate loan with Bridge Investment Group.

 The portfolio is 82 percent leased to seven tenants with a weighted average lease term of more than six years.

The portfolio comprises properties at 1209 Round Table, 4924 Woodall St. and 8517 Directors Row in Dallas; 4901 Beach St. in Ft. Worth; 924 111th St. in Arlington; and 1609 109th St. in Grand Prairie.

 Aaron Weaver
Completed between 1958 and 1981, buildings feature clear heights ranging from 14 to 23 feet; 18 percent average office finish; a mixture of rear- and front-loading and cross dock configurations; 35 dock-high doors, six drive-in doors; and ample parking.

Situated on a total of 21.5 acres, all six properties are within DFW’s most coveted infill industrial submarkets, Brookhollow, GSW and North Fort Worth, providing unparalleled connectivity to metro’s dominant transportation arteries, strongest labor pools and primary residential hubs.

 “This portfolio sale marks our first full cycle value-add with lease-up and is a subset of the industrial properties that we are continuing to aggressively acquire and value-add throughout Dallas/Fort Worth,” said Romit Cheema, CEO of CanTex Capital.

Dustin Volz
Vintage shallow bay product (pre-2000) within the DFW industrial market has consistently outperformed bulk industrial product, with stable occupancy averaging 95 percent since 2010, outstanding historical rent growth and reliable leasing velocity.

 “Dallas/Fort Worth is a dynamic market with strong fundamentals and tremendous growth potential,” said Aaron Weaver, CFO of The Bendetti Company.

 “With this acquisition, we are excited to be entering a new market and we seek additional assets in the Dallas/Fort Worth metro area that are well-aligned with our ongoing investment strategy.”

Stephen Bailey
 The JLL Industrial Capital Markets team that represented the seller was led by Senior Managing Director Dustin Volz, Managing Director Stephen Bailey and Analyst Matthew Barge.

 The JLL Capital Markets Debt Placement team that represented the buyer was led by Managing Director John Chun, Directors Peter Thompson and Jarrod McCabe, Associate Samuel Godfrey and Analyst Jordan Leake.

 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.

Matthew Barge
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 CanTex Capital

CanTex Capital is a premier commercial real estate investment firm in Dallas actively acquiring infill industrial properties throughout Texas.

 

We focus on acquisitions, construction, management and development with a focus on light industrial assets.


John Chun
The breadth of their experience in commercial real estate spans different geographic markets, asset types and market cycles giving us a diverse and unique perspective and outlook.

 

About The Bendetti Company

The Bendetti Company is a Southern California-based commercial real estate company which focuses on the investment and management of commercial properties in the western U.S.

 Founded in 1964, The Bendetti Company looks for value-add or core plus investment opportunities to achieve superior risk-adjusted returns.

 

About JLL

Peter Thompson

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 $16.6 billion, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021.

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

Jarrod McCabe




Samuel Godfrey











CONTACT:


Kimberly Steele

PR, Capital Markets

 Agency Leasing and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

bendetti.com.

JLL.com