KBS Sells Three-Building 584,147 Square-Foot Class A Office Park in Fairfax, VA

Willow Oaks Corporate Center, a 584,147 square-foot,

 Class A office park at 8260-8280 Willow Oaks

 Corporate Drive, Fairfax, VA

FAIRFAX, VA– KBS, one of the nation’s largest investors in premier commercial real estate, has sold Willow Oaks Corporate Center, a 584,147 square-foot, Class A office park in Fairfax, Virginia, a submarket of Washington, DC. 

The property was purchased by Bridge Investment Group for $106 million. Willow Oaks was owned by KBS Real Estate Investment Trust II.

 

Marc DeLuca

The Washington, DC metro has experienced significant employment growth over the past two years, which is likely to positively impact the region’s office market. 

According to Newmark, office demand in Northern Virginia during the third quarter of 2021 was stronger than the prior two quarters, suggesting a possible return to positive demand in the coming quarters.

 Investors continue to seek assets renovated to the highest institutional standards, according to Marc DeLuca, Eastern regional president for KBS.

 “KBS is approaching 30 years of investing in key markets in the country and acquiring and selling premier assets in top locations within those markets,” says DeLuca. “We have become experts in identifying properties in emerging submarkets like Merrifield that appeal to investors interested in high-quality office buildings.”

Stephen Close

One of the driving forces behind the strength of the Merrifield submarket, where Willow Oaks Corporate Center is located, is the Mosaic District town center. 

This 31-acre urban designed, mixed-use development offers an eclectic mix of sophisticated retail and trendy restaurants.

 In addition, two acres of public spaces offer a mixture of unique gathering places that include areas for outdoor events and parks for performances and festivals.

 Another unique attraction to this location is INOVA Hospital’s new multi-million-dollar cancer center at the former Exxon Mobil headquarters. This new center, combined with INOVA’s main hospital located behind Willow Oaks Corporate Center, is a significant draw for Northern Virginia’s health and medical tenants.

Jud Ryan

The property is positioned to capitalize on the continued demand growth within the greater Northern Virginia market, according to Stephen Close, asset manager for Willow Oaks Corporate Center and senior vice president of KBS.

 “Willow Oaks Corporate Center is situated in a desirable infill location within close proximity to office and medical users in the health, defense and technology industries,” says Close. “This provides a unique opportunity to capture tenants looking for industry leading amenities in the market.”

 Built in three phases in 1986, 1989 and 2003, Willow Oaks Corporate Center is a three-building office park located near the intersection of Route 50 and the Capital Beltway (I-495), two of Northern Virginia’s busiest commuter routes, and within close proximity to the Dunn Loring Metro. 

The property is also within close proximity to shopping, dining and entertainment, major regional hospitals, and George Mason University.

James Cassidy

 Under KBS ownership, the property has undergone a first-class renovation, including a fitness studio, a large conference center with flexible seating, a tenant lounge with catering kitchen, lobby renovations, an updated eatery, and a new coffee bar.

 In addition, Willow Oaks Corporate Center possesses WiredScore Gold and Silver certifications for superior connectivity and features EV car-charging stations, and an energy-management system. 

Common amenities include bike storage, an outdoor picnic area, carwash/detail service, private tenant balconies, concierge service, and multiple bus shuttles.

 James Cassidy, Jud Ryan and Grant Marley from Newmark represented KBS in the sale.

 

Grant Marley

“Willow Oaks Corporate Center offers appealing features that investors can’t find at other properties in the area,”

says Cassidy.

Attorneys Bruce Fischer and Howard Chu, and paralegal Amanda Kennedy of global law firm Greenberg Traurig, LLP’s Orange County office, together with attorney Rick Melnick in Greenberg Traurig’s Virginia office,  represented KBS as legal counsel in the disposition.

“It was rewarding to partner once again with KBS to complete this transaction, which aligns with the firm’s investment strategy,” said Fischer, Greenberg Traurig’s Chair of the West Coast Real Estate Practice and Co-Managing Shareholder of the Orange County Office, who led the Greenberg Traurig team representing KBS.

CONTACT:

KATIE HAGA

Account Manager

The Smart Agency, Inc.

 

O  949 438 6262 Ext. 7 | C  714 209 2334

E  khaga@thesmartagency.com

HQ  220 Newport Center Drive, Suite 22, Newport Beach, CA 92660

Illustrated Properties Welcomes Top Producer Mohammed Ismail to West Palm Beach, FL Office

Mohammed Ismail

 

 West Palm Beach, FL, Dec. 13, 2021 – Illustrated Properties, a member of The Keyes Family of Companies, announces the addition of Mohammed Ismail, a top producer in the West Palm Beach market.

 Ismail’s vast real estate experience and hospitality background will benefit Illustrated’s growing West Palm Beach office.

Ismail is a West Palm Beach resident with deep ties to the community that have served him well as a Realtor. He brings over 20 years of real estate, hospitality and retail experience to his new role with Illustrated.

Michelle Burke

“Mohammed Ismail is a tremendous addition to our West Palm Beach team,” said Michelle Burke, Manager of Illustrated Properties West Palm Beach Office.

“He brings diverse experience along with a wealth of local knowledge that adds a great deal of value to our growing team in the area.”

Before becoming a Realtor, Ismail spent more than a decade in the hospitality industry as an employee at PGA National Resorts and Spa and The Breakers.

 His 10 years as a Realtor is highlighted by his tenure at Schelling & Associates, where he earned many accolades and flourished as the go-to Realtor in the Bangladeshi community of South Florida.

 

 

CONTACTS:

 

Eric Kalis and Daniel Benjamin

 BoardroomPR

ekalis@boardroompr.com

dbenjamin@boardroompr.com

954-370-8999

Ware Malcomb Promotes Three in Newark, NJ Office

 Scott Daniel

 NEWARK, NJ– Ware Malcomb, an award-winning international design firm, has promoted Scott Daniel to Director, Architecture; Jon Anderson to Studio Manager, Architecture; and Adam Smith to Studio Manager, Advanced Manufacturing. All are seated in the firm’s Newark, New Jersey office. 

In his role as Director, Architecture, Daniel leads the growth and management of the region’s Architecture Studios in New Jersey and New York.

  A registered architect in the states of New York and New Jersey, Daniel has three decades of experience in the architecture industry and has led and designed multi-million-dollar projects, both nationally and internationally.

 Daniel joined Ware Malcomb as a Senior Project Manager in 2019.

Jon Anderson 

 In Anderson’s role as Studio Manager, Architecture, he helps lead the architecture studios in the New Jersey and New York offices and leads select projects. He joined Ware Malcomb in 2015 as a Job Captain and was promoted to Project Manager and Senior Project Manager.

 In Smith’s role as Studio Manager, Advanced Manufacturing, he helps lead the advanced manufacturing studios in the New Jersey and New York offices and leads select projects.

 He brings extensive knowledge in overseeing the project quality assurance process, with an in-depth expertise in building code analysis, constructability review and design requirements. 

Adam Smith 

Smith joined Ware Malcomb in 2012 as a Project Coordinator and was promoted to the roles of Project Manager and Senior Project Manager.

 “I am very excited to share the news about these key promotions in our region,says Edward Mayer, II, Principal Architecture of Ware Malcomb’s Northeast region.

 "Scott has been instrumental in the leadership of the studios and has become a respected advisor among clients in the Northeast market. 

Edward Mayer, II

“Jon and Adam have both demonstrated significant drive and dedication to our projects, directly contributing to the growth we are experiencing. 

"We are looking forward to seeing these three key leaders grow in their new roles.”

 

 

CONTACTS:

 Rachel Reenders

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

Stos Partners Acquires 139,000-SF Industrial Building in Jurupa Valley, CA for $19.8 Million

 

CJ Stos

JURUPA VALLEY, CA – Stos Partners, one of the most active commercial real estate investment and management firms in Southern California, has acquired a 139,000 square-foot industrial asset in the Inland Empire submarket of Jurupa Valley, California from a private seller for $19.8 million.

 According to CJ Stos, Principal at Stos Partners, the firm saw immense potential in the property based on the under-served demand for quality manufacturing space in the market, and quickly moved forward to negotiate a competitive purchase price.

 “While much of the current development and investment activity in the Inland Empire involves Class A distribution centers, there remains a strong demand from companies that understand the value of maintaining and growing manufacturing operations in this key industrial market,” explains Stos.

Stan Nowak

“Most Southern California submarkets are seeing industrial vacancy rates in the one-percent range. 

"As one of the most active buyers of industrial product in the region, our team immediately recognized the value of adding this core asset to our growing portfolio.”

Stos notes that the firm will implement a value-add strategy at the property, which was built in 1986, to bring a competitive manufacturing asset to the market. 

“Drawing upon extensive experience in value-add renovations and market demands, our upgrades to the property will include office improvements, new paint, roof work, and repaved asphalt,” continues Stos. 

Tanner Jansen

“Further, we recognized the potential for repositioning the ample 8.24 acres of land the property sits on, and will convert the excess land into yard space.”

 Tanner Jansen, Vice President of Acquisitions at Stos Partners, adds that the firm is working closely with the City of Jurupa Valley to attract a tenant that would benefit the local business community and ensure the project is aligned with the city’s current moratorium that temporarily bans ‘truck-intensive’ projects.

 “With the moratorium in mind, we met with the city of Jurupa Valley to better understand what the city envisioned for this vacant industrial asset,” says Jansen.

John Pinjuv

 “We ultimately developed a business plan that leverages the asset’s positioning and will help realize its full potential.”

 The property is located at 10220 San Sevaine Way in Jurupa Valley, California. Stan Nowak and Cody Lerner of Avison Young represented Stos Partners as the buyer in the transaction.

 

The seller was also represented by Nowak and Lerner along with John Pinjuv.

 

CONTACT:

 

Katie Haga / Elisabeth Manville

The Smart Agency, Inc.

(949) 438-6262

khaga@thesmartagency.com  

www.stospartners.com.

The Grigg's Group Lands $3.85 Million Sale of Highly Sought-After Arcadia Home in Phoenix, AZ

 Scott Grigg

 PARADISE VALLEY, AZ –- He is the go-to realtor of Paradise Valley that can be seen making cameos on Bravo’s Million Dollar Listing LA; Scott Grigg of The Grigg’s Group often partners with cast member Josh Altman and over the years the two have joined forces to sell some breathtaking homes.

 Now, the duo has done it again by landing the sale of a highly sought-after Arcadia home in Phoenix, Arizona. On December 7, 2021, the home (located at 4525 E. Lafayette Blvd., Phoenix, AZ 85018) closed for $3,850,000.00 – one of the highest price points for the area.

Josh Altman

  “It’s been a seller’s market since homeowners reassessed their priorities during the pandemic, and this proves there is no sign of it slowing,” said  Grigg, owner of The Grigg’s Group. 

“The sale of this modern Arcadia farmhouse really demonstrates that more square footage and a bigger lot size make the difference, and buyers are willing to pay the price.”

4525 East Lafayette Boulevard, Phoenix, AZ 
closed for $3.85 million – one of the highest
price points for the area
(The Griggs Group photo)

Located on the highly desirable Lafayette Blvd. in the Arcadia neighborhood of greater Phoenix, Arizona, the 5,602 square foot home on a 24,000 square foot lot features extraordinary views of Camelback Mountain and exquisite design inside and out. 

The Arcadia farmhouse offers five bedrooms, four full bathrooms, one powder room, a three-car garage with electric car charging station, a private office, wood chevron laid flowing, a state-of-the-art kitchen with top-of-the-line appliances, a huge marble island, wine fridge, concealed refrigerator, a private courtyard with outdoor fireplace, and a covered back patio with a built-in BBQ station and sparkling pool.

 For more information and other listings from The Grigg’s Group, please visit www.arizonafineproperty.com or call 480.540.5479.

 

CONTACT:

Kendra Riley

Dawning PR

kendra@dawningpr.com 

 480.220.6051

 

JLL’s growing Valuation Advisory practice hires Benjamin Hestir as Project Management Director

 

Benjamin Hestir

 CHICAGO, IL – JLL’s Valuation Advisory group has hired professional engineer Benjamin Hestir to join its growing Environmental and Property Condition (EPC) team as a Project Management Director specializing in environmental site assessment.

Based in the Greenville, South Carolina, metro area, Hestir will report to Senior Project Management Director Ken Voyles. 

 In his new role, Hestir will be responsible for the technical review of various environmental reports, providing management and oversight of Phase II projects, and the mentoring and development of assessment staff.

Ken Voyles

He comes to JLL with more than 29 years of experience in environmental due diligence investigations for property acquisitions.

Led by Managing Director Jeff Manas, the EPC service team offers Phase I Environmental Site Assessment and Phase II Oversight Management, along with property condition assessments, zoning reports, seismic studies, ALTA surveys and green evaluations.

Due to immediate high demand for their services, Manas started implementing an accelerated hiring plan to better support client needs.

 “Our strategy for building this team is centered on putting our client’s needs first and providing them with world class support," said Manas.

Jeff Manas

"We’re hiring the most talented professionals in the industry who excel at providing good science and risk mitigation practices, and Ben Hestir is a perfect example of this strategy.

"Ben brings tremendous subject matter expertise not only in Phase I and II assessments, but also decades of multifamily and Fannie/Freddie knowledge, having been the principal consultant for several of the largest multifamily owners in the industry."

 

CONTACT:

 Kimberly Steele,

JLL Manager,

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

The UP Companies Hires Joe Hunsucker as Square UP Operations Manager in Kansas City, MO

 

 Joe Hunsucker

St. Louis, MO -- The UP Companies (UPCO) proudly announces the hiring of Joe Hunsucker as Square UP Operations Manager at its Kansas City office.

 “We are experiencing a major construction growth spurt in the Kansas City area," said Kansas City Regional Director David Murrell.

 

"An Operations Manager with the leadership skills and expertise that Joe has accumulated throughout his career will go a long way toward ensuring the satisfaction of our customers.

 

 “He is well respected in the industry and we are excited to have him on the team.”

 

Brian Arnold

Prior to Square UP, Hunsucker worked four years as a Superintendent for JE Dunn Construction in Kansas City and spent more than 20 years with E&K where he started as an Apprentice Carpenter and advanced to Foreman, Superintendent and Senior Operations Manager.

His expertise is in carpentry, metal studs, drywall and managing large projects. From 2013 to 2017, he ran and oversaw the VA Hospital project in Denver, the largest project in Colorado at the time.

 

“Joe is just the type of Operations Manager that we need at our growing Kansas City office,’’ said Brian Arnold, UPCO President.

 David E. Murrell

 

"He leads by example with his ‘safety first’ mindset and in-depth knowledge of productive and safe work practices as well as the applicable OSHA Standards.

 

"He has also proven himself to be skilled at leading and training Apprentices and Journeymen in the commercial carpenter trade and breaking down and analyzing complex problems to find the best way to proceed."

 

Hunsucker has Quality Management Training and OSHA 30 + 10 certifications and he is a member of Carpenter’s Union Local 1127.

 

 CONTACT:

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

 

 www.theupcompanies.com or call 314.865.3888.

 

Cooper Carry Names J.D. Harper as Sustainability Leader

 J.D. Harper 

 

 WASHINGTON, DC - Cooper Carry announces the appointment of J.D. Harper as the firm’s Sustainability Leader, bringing over a decade of experience in design.

 Based out of the D.C. office, the new role marks the design firm’s increased focus on sustainability and the critically important role it plays in designing for our future.

 

Harper will work across all offices, studios and services to coach design teams by integrating, navigating and advocating for sustainability across disciplines.

Prior to joining Cooper Carry, Harper served as a sustainability consultant for Paladino and Company. She most recently worked with the Hospitality, K-12 Education, Office Design, and Science and Technology studios. 

Kyle Reis

“J.D.joins the team with varied expertise and deep passion for the environment, and understands that good design is sustainable design,” said Kyle Reis,President and CEO of Cooper Carry.

 

“We are pleased to welcome her as we continue to focus on the impact we make in the communities where we work.

 

"J.D. is well positioned to lead our sustainability and resiliency priorities as we take our firm into a new era of design by recruiting top-tier talent, investing in the latest resources and tools for our people, and ensuring success for our clients and end users.”

For more information, please visit Cooper Carry’s website at coopercarry.com and follow the design firm on Facebook, Instagram, Twitter and LinkedIn.

CONTACT:

The Wilbert Group

Aliya Seymour, Account Executive

www.thewilbertgroup.com

m: 678.477.3630