Lincoln and Harvard Close on 585 Acres for Seven Million SF Goodyear AirPark in Goodyear, AZ

 Goodyear AirPark, Goodyear, AZ

 

 GOODYEAR, AZ – In a joint venture partnership, LPC Desert West, the Southwest regional office of Lincoln Property Company (LPC), and Scottsdale-based Harvard Investments have purchased 585 acres in metro Phoenix’s West Valley submarket for a major new, Class A industrial development called Goodyear AirPark.

Greg Vogel

Situated next to the Phoenix-Goodyear Airport, it is one of the last large industrial-zoned land parcel remaining in the immensely popular Goodyear, Arizona industrial market.

It also sits immediately adjacent to a Dark Fiber line, making it highly attractive for data center development – a market sector in which Phoenix ranks as a U.S. leader.

LPC and Harvard will break ground on Goodyear AirPark Phase I in Q1 2022, to include more than 1.6 million square feet of space in six buildings ranging from 81,000 square feet to 775,000 square feet.

David Krumwiede

At completion, the park will have the capacity to deliver up to 7 million square feet of industrial space in as many as 20 buildings. 

It will also offer a retail component, providing approximately 10,000 square feet of in-line and retail pad opportunities.

Cerberus Capital Management is the equity partner for LPC and Harvard on the project. Greg Vogel of Land Advisors represented the land seller, Sun MP.

“Goodyear AirPark represents one of the all-time most well-located and amenitized, shovel-ready industrial sites in LPC’s Desert West portfolio, happening at a time when demand for modern industrial product has never been higher,” said Lincoln Property Company Senior Executive Vice President David Krumwiede.

 Craig Krumwiede

“It is also the fourth partnership with my brother, Craig Krumwiede, and Harvard Investments –a proven partner with whom LPC has delivered multiple landmark metro Phoenix developments.”

The Goodyear AirPark site is generally bounded by Estrella Parkway, Bullard Avenue and State Route MC 85, a high-volume east/west trucking route connecting Goodyear with Mexico.

“Goodyear has become a live-work magnet, attracting residents and companies from across the region and nation,” said Harvard Investments President and CEO Craig Krumwiede.

The architect for Goodyear AirPark is Butler Design Group. The general contractor is yet to be selected. LPC Desert West will direct all leasing and property management.

To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.

 Contact: 

 

Stacey Hershauer

480.600.0195

stacey@focusaz.com

 

http://www.harvardinvestments.com/

Stream Realty Partners Opens Northern Virginia Office to be led by commercial real estate veteran Anthony Chang

 Anthony Chang 

 NORTHERN VIRGINIA –  Stream Realty Partners (Stream), a national commercial real estate services, development, and investment company, is opening an office in Northern Virginia. Twenty-year real estate veteran Anthony Chang will lead the office, serving as Managing Director.

Executive Managing Director and Partner Kyle Luby in Stream’s D.C. office said, “I’m really excited to add this location to our platform and provide strategic oversight for Anthony to take this office to the next level, cementing and growing our footprint in Northern Virginia.

Kyle Luby

"We plan on actively recruiting and quickly building out service line support to offer our clients a full scope of resources.”

Chang comes to Stream from WashREIT where, among his accomplishments as Vice President, Asset Management, he co-founded its flexible office program Space+.

Prior to WashREIT, he was a leasing broker with Cassidy Turley where he added more than 2.5 square feet in agency listings in less than three years.

Throughout his career, Chang has executed or advised on over $800 million in lease transactions.

 Contact: 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

www.stanjohnsonco.com

www.streamrealty.com.

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

Stan Johnson Co. arranges sale of Ward Stonebridge Square in Roswell, GA

Doug Clyburn

 ROSWELL, GA -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Ward Stonebridge Square located at 11255 Woodstock Road in Roswell, Georgia.

The 8,006-square-foot unanchored retail center was sold by Ward Stonebridge LLC, a Georgia-based private equity group. It was acquired by a private investor, also based in Georgia, for more than $1.5 million.

Doug Clyburn and Julie Clyburn of Stan Johnson Company represented both parties in the transaction.

“We sourced this off-market center for one of our clients looking for a well-located, value-add property,” said Doug Clyburn, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office.

“Due to an absentee-owner situation, the center was only 34 percent occupied at the time of sale but has excellent upside potential given the five-mile population of 161,032 and an average household income of $174,415 within three miles.”

Julie Clyburn 

Ward Stonebridge Square was built in 2004 and is situated on 0.99 acres with outstanding visibility and access to Woodstock Road and West Crossville Road.

The two current tenants, That Dirty Dog and American Hair Cuts, have been in place for more than 10 years, and the center features three vacant suites between 1,200 and 2,150 square feet each.

Area tenants include Starbucks, Home Depot, Kohl’s, Wells Fargo, McDonald’s, Zaxby’s and many others.

 

Contact: 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

www.stanjohnsonco.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.” 

Daum Commercial completes $3.45 million sale of fully-leased, two-building Arizona industrial portfolio

 

  

Skip Corley, Jr.

            PHOENIX, AZ – DAUM Commercial Real Estate Services recently completed the sale of a portfolio comprising two industrial properties in Arizona. 

Both buildings are fully leased to CenturyLink, one of the largest telecommunications companies in the United States, according to Skip Corley, Jr., an Executive Vice President at DAUM who represented the seller, EPL Federal, LLC, in the transaction. 

“We identified these properties as a strategic investment opportunity for our client four years ago,” explains Corley. 

“Based on today’s high industrial demand, they decided to sell the portfolio in order to pursue more aggressive cap rates, while bringing a strong cash-flowing offering to the market.”

Corley notes that since the properties are located in two different cities approximately 60 miles apart, he had to get potential buyers comfortable with each.

“Most investors immediately understood the long-term value of the building located within the highly in-demand Deer Valley industrial submarket of Phoenix,” says Corley. 

Bob Beardsley 

“That said, the Casa Grande market is considerably smaller. Ultimately, we were able to effectively communicate that this was a prime opportunity to own not one but two assets that are NNN-leased to a single investment grade tenant.”

Corley notes that both properties have been leased to CenturyLink for several decades. The assets include:

Todd Hamilton

·         An 8,100 square-foot building on 3.01 acres of land located at 21011 North 27^th Avenue in Phoenix, Arizona.

·         A 3,770 square-foot building on 3.64 acres of land located at 13333 West Selma Highway in Casa Grande, Arizona.

The buyer was represented in the transaction by Bob Beardsley and Todd Hamilton. The total consideration of the sale was $3.45 million.

Contacts: 

Arleeny Escarcega / Elisabeth Manville  
Brower Group  
(949) 438-6262 
aescarcega@brower-group.com 

www.daumcommercial.com.

Lincoln Property Co. Sells Park 303 Phase I in Glendale, AZ for Record-Breaking $186 Million; Highest single-building industrial sale price in Arizona history

SOLD: Park 303, Phase One ranked as
 highest single-building industrial sale price
 of $186 million in Arizona history

                                                                    GLENDALE, AZ--

 David (Dave) Krumwiede

Within one month of its completion, leading developer LPC Desert West has completed the sale of the 1.25 million-square-foot Park 303 Phase I in Glendale, Arizona to BentallGreenOak, a leading global real estate investment management advisor and real estate services provider. 

At $186 million, the transaction represents the highest single-building industrial sale price in Arizona history.

Phase I, which has been fully leased to a Fortune 1 retailer, is located on 71 acres fronting the Loop 303 freeway, between Bethany Home Road and Glendale Avenue. 

It is part of LPC’s larger Park303 master planned industrial park, spanning 210 acres and with the capacity to support nearly 4 million square feet of Class A industrial development.

LPC developed Phase I as a two-building speculative development, with the ability to rapidly combine a into a single, larger building as market demand required.

“Park303 was one of the first industrial developments in the state to quickly convert two stand-alone buildings into one larger facility to meet the needs of a major single user,” said LPC Desert West Senior Executive Vice President David Krumwiede. “

That flexibility – along with a premier location and high-tech, high-velocity e-commerce fulfillment capabilities – is what cemented our full-building lease. 

Ed Lampitt

"Our buyer recognized these advantages and moved quickly to secure the building and its significant long-term value.”

Ed Lampitt, Mike Haenel, Andy Markham and Phil Haenel of Cushman and Wakefield represented Park 303’s Phase I tenant. Will Strong of Cushman and Wakefield represented LPC on the investment sale. LPC will continue to provide the building’s property management services.

Mike Haenel

“This sale is a true joint effort between Cushman and Wakefield and LPC,” said LPC Desert West Vice President Will Strong  “Ed Lampitt and his team coordinated an extremely successful lease process for our Phase I building. 

"When the time came to list the property for sale, keeping that Cushman collaboration going and selecting Will Strong to represent us was a natural choice.”

Park 303 Phase I directly fronts the Loop 303 freeway, offering easy ingress and egress via two full-diamond freeway interchanges, and convenient access to a deep and skilled West Valley labor pool.

Andy Markham 

Building amenities include 40’ clear height and steel moment frame shear bracing that allows for highly modern, automated racking and picking equipment. 

Other amenities include 25,000 square feet of Class A office and training space, large breakrooms and upgraded, fully amenitized outdoor spaces with covered seating, a barbeque station and grass area for games and events.

Employees also benefit from efficient LED lighting and more than 140 large clerestory glass windows, which  provide access to sky views and shifting natural light, shown to increase productivity and mental focus.

Phil Haenel

The gated, supply-chain-centric site has full concrete truck courts, ample truck parking and private drives.

Park 303 Phase I was originally developed as a 705,531-square-foot Building A and 488,995-square-foot Building B. 

To accommodate a major global user, LPC quickly combined the buildings into a single facility.

The project sits within Glendale’s New Frontier District and is one mile from the Northern Parkway, a 12.5 mile, high-capacity roadway providing rapid connection between the Loop 303 and US 60/Grand Avenue. 

The connection offers expedited distribution routes and allows employees to avoid common rush hour traffic delays on Interstate 10.

Will Strong 

Corporate neighbors to Park303 include Boeing, Microsoft, White Claw, XPO Logistics, UPS, REI, SubZero, Daimler-Benz, Red Bull, Ball Corporation and Aldi, as well as hundreds of new residential homes.

To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.

John Orsak

CONTACT:

Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.com

Orlando, FL Office Leasing Activity Picks Up

Mary Frances West

 ORLANDO, FL – Mary Frances West, CCIM, Vice President at NAI Realvest, recently represented two office tenants in leasing space – a company relocation and a renewal.

 At the Citadel III, 5950 Hazeltine National Drive, Orlando, S2K Financial, LLC leased 2,324 SF in suite 305.  The company is based in New York City and is relocating their local office from Winter Park. 

The landlord, Citadel Partners, Ltd. was represented by Jeff Patterson with Equity, Inc.

Tiffany Zullo

In the Research Park area, NanoSpective, Inc. renewed their lease of 4,886 SF in University Tech Center, 12565 Research Parkway, Suite 390, Orlando. 

The company provides analytical services and consultation in materials science. 

The landlord, CIO University Tech, LLC was represented by Tiffany Zullo with Tower Realty Partners, Inc.

Jeff Patterson

CONTACTS:

 Yelena Gurtovenko 

ygurtovenko@realvest.com

Mary Frances West, CCIM

Vice President

NAI Realvest

 407-875-9989

 mfwest@realvest.com

Patrick Mahoney, President/CEO, NAI Realvest, 407-875-9989

 pmahoney@realvest.com

 

 

Beverly Woodall

NEW YORK, NY – JLL Capital Markets has facilitated the $245 million recapitalization and financing of a 31-property medical office building portfolio totaling 545,813 square feet across 10 states.

 JLL represented Montecito Medical Real Estate in arranging the recapitalization with AEW Capital Management (“AEW”). Additionally, JLL worked on behalf of the new ownership group to secure $176 million in acquisition financing through BMO Harris.

Kristina Patrk 

The institutionally managed portfolio consists of 27 single-tenant and four multi-tenant buildings that are purposely aligned with major health systems and dominant physician groups. 

The portfolio is primarily off-campus and 81% of the buildings feature critical infrastructure such as ambulatory surgery centers or imaging facilities. 

Vasili Davos

With an overall occupancy of nearly 100% and a collective weighted average remaining lease term (WALT) in excess of 10 years, the portfolio provides stable and predictable long-term cash flow.

 The assets are located in metro areas that have benefitted from recent migration and population growth patterns such as Atlanta, Charlotte, Miami, and other desirable secondary and tertiary markets.

 The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Director Ted Flagg and Managing Director Andrew Milne with support from Vasili Davos, Kristina Patrk and Niema Beglari.

 JLL’s Healthcare Capital Markets team spearheading the financing efforts included Senior Managing Director Daniel Turley, Managing Director Timothy Joyce and Director Anthony Sardo. Support was provided by Beverly Woodall and Drew Perry.

Ted Flagg 

“This is a reflection of a continuing trend we are seeing across asset classes with the sponsor electing to continue to create value and grow AUM which in turn grows their enterprise value,” Flagg said.

 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 and advisory, debt advisory, equity advisory or a recapitalization.

 The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Andrew Milne 

 

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

 

About Montecito Medical Real Estate

Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and funding the development of medical real estate. 

Montecito is a leading resource for both medical real estate owners and healthcare providers seeking to monetize or expand their holdings. 

Niema Beglari

Since 2006, it has completed transactions across the United States involving more than $4 billion in medical real estate. 

Headquartered in Nashville, TN, Montecito has been named as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Healthcare Real Estate Insights.

 About AEW

Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide.  

 One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $88.6 billion of property and securities in North America, Europe and Asia (as of June 30, 2021).  

Daniel Turley

Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. 

 AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. 

For more information please visit www.aew.com.

 About BMO Harris Bank Commercial Real Estate​

Real estate firms like yours need a banking partner with extensive products and services, a strong capital base, and the ability to fund their needs through economic cycles.

Timothy Joyce 

BMO’s dedicated team of real estate experts is your trusted adviser, helping developers, REITs, private equity funds and institutionally sponsored firms achieve their goals. 

To learn more about how BMO can help, visit bmoharris.com/realestate.​

 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. 

Anthony Sardo

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.

Contact:

 Kristen Murphy, JLL Senior Manager, Public Relations

Phone: +1 617 848 1572

 Kristen.Murphy@am.jll.com