Samitaur Constructs to unwrap outrageous creative office tower in Culver City area of Los Angeles, CA, reawakening LA’s skyline with unique high-rise design; JLL oversees office leasing

Frederick and Laurie Samitaur Smith

 LOS ANGELES, CA – Samitaur Constructs, a female-led, highly experienced and established commercial real estate development company, announced that, in the coming weeks, it will be unwrapping the scaffolding and outside cover of (W)rapper, a unique, outrageous 16-story 180,548-square-foot creative office tower located at 5790 West Jefferson Boulevard in the vibrant Culver City area of Los Angeles, California.

                          Eric Owen Moss

The removal of the covering will allow all to see the striking exoskeleton ribbon structure designed by award-winning Eric Owen Moss Architects. Completion of (W)rapper, is planned for August of 2022. 

(W)rapper features a breath-taking rooftop deck amenity at over 220 feet in the air, alternative perimeter floor heights of 13’6”, 16’6” and 24’ with suspended loft space, a distinctive lobby with retail amenity area, expansive 360-degree views from extraordinary full-height perimeter glass line, desirable “column-free” floorplates, efficient side core design and a seismic base isolation system for greater earthquake safety.

(W)rapper, a unique, outrageous 16-story,180,548-square-foot creative office tower located at 5790 West Jefferson Boulevard in the vibrant Culver City area of Los Angeles, CA

(W)rapper is one of the few commercial office buildings in the United States with base isolation construction typically used in critical need buildings to withstand an earthquake.

“(W)rapper is a culmination of creative office evolution, a building which can explain and express the culture of the companies that locate within,” says Laurie Samitaur Smith, owner of Samitaur Constructs and the project’s sole owner/developer. 

     Micheal Geller 

Smith is well known for her penchant for creating imaginative and intriguing workspaces within her portfolio of creative office buildings known as “Conjunctive Points”.

Ideally located in the epicenter of Los Angeles’ Westside office submarket, (W)rapper is directly adjacent to the Jefferson/La Cienega Expo Light Rail Station and minutes from the Interstate 10 and 405 Freeway, providing convenient access to all areas of the city, from the ocean to downtown.

          Gabriel Brown

(W)rapper is situated within a federally designated Qualified Opportunity Zone, providing prospective tenants with a potential opportunity to take advantage of significant tax benefits.

Leading the leasing efforts at (W)rapper are JLL’s Micheal Geller and Gabriel Brown. 

The (W)rapper can accommodate a wide range of users, including full floors of 14,000 square feet up to a contiguous 140,000 square feet. 

“As companies make plans to return to the office following the pandemic, they want to elevate their work environment and have a magnet to draw their employees back,” said Geller, JLL Managing Director.

“(W)rapper is an unprecedented opportunity to create a new direction in company culture, and is an exciting solution for the post-COVID employer.”

About Samitaur Constructs

Samitaur Constructs is a highly experienced and diversified commercial real estate development company, founded by Frederick & Laurie Samitaur Smith.

It has worked in close collaboration with renowned architect Eric Owen Moss Architects (EOMA) for the last 35+ years, building over one million square feet of architecturally innovative office and studio space, with over 500,000 square feet of additional exciting creative office currently under development.

Vespertine restaurant

Recognized worldwide for their cutting-edge style and distinguished architectural elements, they have developed eye-catching projects including the Pterodactyl, Stealth, Samitaur Tower and the Waffle that houses premier restaurant Vespertine.

Regarded by most in commercial real estate as the inventors of “creative space,” Samitaur Constructs has been recognized for job creation and a positive impact on community redevelopment and revitalization. 

 

 CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.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.”

 

Rosedale Center Signs Leases with Shake Shack and Panera; Announces Several Recent Openings

 

Holly Rome 

 Roseville, MN, Mar. 16, 2022 -- Rosedale Center, a 1.3MM-square-foot shopping center located in the heart of the Twin Cities, announced today that it has signed Shake Shack to a 3,500-square-foot and Panera Bread to a 4,000-square-foot lease.

Shake Shack and Panera are scheduled to open Winter 2023 and will feature drive-thru service in addition to dining and patio seating.

 Lane Walsh

In addition to Shake Shack and Panera Bread, several new tenants have opened at Rosedale Center in recent months. Recent openings include:

• Arula, a new mid-and-plus-size women’s shopping concept by Altar’d State opened in December 2021.

• Sandbox VR, a futuristic Virtual Reality experience, opened a 13,000-square-foot location in December 2021

• Joey Meatballs, a fast casual Italian kitchen serving homemade pastas, sauces & meatballs, opened a restaurant in Potluck in November 2021.

Robin Sande

• Salad Slayer, a build-your-own salad & health food concept, opened a restaurant in Potluck in November 2021.

• B&E Sweets by Diane, a locally-owned and operated bakery, opened in Potluck in November 2021.

• PNC Bank, one of the largest diversified financial services institutions in the United States, opened their first Minnesota branch in November 2021.

Lisa Crain

• Caribou Coffee, a Minnesota-based American coffee company and coffeehouse chain, opened a location in August 2021.

• Aspen Dental, the largest group of branded dental offices in the world, is scheduled to open a 3,500- square-foot office in January 2022.

• Visionworks, a leading provider of eyewear and eye care services, is scheduled to open a 3,037-square-foot location in February 2022.

Rosedale Center, a 1.3 million SF shopping center,
Twin Cities, Minnesota

Future openings include:

• The Original Popcorn House and Nestle Toll House Café, handcrafted gourmet popcorn in over 50 flavors and partnered with many varieties of delicious cookies, ice cream and coffee, is scheduled to
open Winter 2022.

• Raising Cane’s, an American fast-food restaurant chain specializing in chicken fingers and its famous “Cane’s Sauce”, is scheduled to open in Summer 2022.

 “We are dedicated to enhancing Rosedale Center’s retail experience both inside and outside the center by adding new retail partners, local culinary entrepreneurs, and other amenities that complement its strong retail presence,” said Lisa Crain, Rosedale Center Vice President & General Manager.

 “Our leasing team is committed to finding the right tenants to serve our community.”

Rosedale Center, Twin Cities, Minnesota

The property leasing team, Holly Rome and Lane Walsh, JLL, and Robin Sande, Newmark, secured the tenants.

For more information on stores, events, and programs, please visit rosedalecenter.com.

 For more news, videos and research from JLL’s retail team, please visit www.jll.com.

 

 CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.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.”

 

Stos Partners continues expansion into Phoenix metro with acquisition of third industrial asset

 

SOLD: 28,520 SF industrial asset in Phoenix, AZ

 

 PHOENIX, AZ -– Stos Partners, one of the most active commercial real estate investment and management firms in Southern California, has expanded its presence in the Phoenix Metro area with the acquisition of a 28,520 square-foot industrial asset in Phoenix, Arizona.

CJ Stos

 The firm acquired the property through an off-market transaction in partnership with a high-net-worth family office, according to CJ Stos, Principal at Stos Partners.

 “As the Phoenix industrial market continues to see an influx of interest and capital from businesses and investors alike, we’ve been able to secure increasingly rare opportunities for strong value creation through drawing upon our broker network and leveraging our proven track record,” explains Stos.

 “We were able to approach this acquisition, our third in the Phoenix Metro area since entering the market just over a year ago, with an all-cash offer and facilitate a rapid close.”

Jay Boyle

The Phoenix industrial market set another record year in 2021, notes Jay Boyle, Executive Vice President at Stos Partners.

 “We are incredibly bullish when it comes to the Phoenix industrial market as net absorption, rental rates, and sales volume are all at historic highs and vacancies have tightened to an all-time low, sitting at 5.1 percent,” says Boyle.

 “Further, as demand for e-commerce and last-mile logistics flourish, we are actively looking to expand our portfolio and implement our proven value-add strategies—which we’ve optimized through experience in Southern California markets for several years—within key markets throughout the country.”

­

 Jason Richards

According to Jason Richards, Partner at Stos Partners, this asset presents the opportunity to bring rents up to market through the firm’s capital upgrade program.

 “The property currently has a short-term tenant in place, providing immediate cashflow,” says Richards. “Looking ahead, we plan to address deferred maintenance and implement strategic upgrades to the property, ultimately stabilizing and re-tenanting the asset.”

 Richards adds that the firm recently sold a 227,000 square-foot, single-tenant industrial property in the Phoenix Metro area submarket of Tolleson, Arizona, for $27.5 million, increasing the asset’s value by nearly 70% during a one-year hold. 

 David Wilson

The property, which was acquired for $4.45 million with a high-net-worth family office, is located at 2757 E. Chambers Street in Phoenix, Arizona.

 David Wilson and Carter Wilson at DAUM Commercial Real Estate Services represented Stos Partners as the buyer in the transaction.

 About Stos Partners

Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors. 

With a track record spanning approximately $1.4 billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through opportunistic acquisitions, strategic redevelopment and ground-up development of both institutional and small-to-mid-cap commercial properties.

 Carter Wilson

Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably. 

More information is available at www.stospartners.com.

 

CONTACTS:

Tess Hezlep / Katie Haga

The Smart Agency, Inc.

(949) 438-6262

thezlep@thesmartagency.com

Ware Malcomb Hires Luciana Arim as Director, Science and Technology in Pleasanton, CA Office

Luciana Arim

PLEASANTON, CA – Ware Malcomb, an award-winning international design firm, announced that Luciana Arim has been hired as Director, Science & Technology in the firm’s Pleasanton, California office.       

In this role, she is responsible for expanding the science & technology practice across Northern California.

Arim brings more than 22 years of experience in architecture and interior design to Ware Malcomb.        

Gary Drew

For her previous firm, she was the Science and Technology and Corporate Commercial market sectors’ leader, overseeing the Northwestern offices. 

She has led all phases of architecture and interiors projects, from inception to planning, programming and construction administration. 

She is a LEED Green Associate with strong sustainability knowledge, as well as design technology and LEAN management.

“Luciana is an experienced leader, both in California and abroad,” said Gary Drew, Regional Vice President for Ware Malcomb. “We’re pleased to welcome her and look forward to her contributions to advance Ware Malcomb’s Science & Technology practice across Northern California.”

Arim earned a BA in Architectural Design from Centro Universitario Belas Artes, São Paulo, Brazil. She is fluent in English, Portuguese, and Spanish.  

Contacts:

Rachel Reenders

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

Maria Rodgers, PR & Communications Manager, 949.660.9128, mrodgers@waremalcomb.com   

 Maureen Bissonnette, Principal, Marketing, 949.660.9128

 mbissonnette@waremalcomb.com        

waremalcomb.com

Galleria Edina retail center sold in Edina, MN

 

Amy Sands

MINNEAPOLIS, MN, March 14, 2022 – JLL Capital Markets has closed the sale of Galleria Edina, a 398,585-square-foot enclosed regional shopping center destination home to a collection of best-in-class retailers and unique dining options in the Minneapolis suburb of Edina, Minnesota.

Danny Finkle

JLL was the sole marketing advisor to the seller. 70th Street Properties LLC, a local investor group, acquired the asset.

 Galleria Edina is 99 percent leased to a meticulously curated collection of highly sought-after international brands, luxe boutique retailers and one-of-a-kind restaurants such as Louis Vuitton, Tiffany & Co., Lululemon, Peloton, Tory Burch, Pottery Barn, Bluemercury, Warby Parker, Coach, Filson, Shinola, Sundance, Rypen, Rejuvenation, David Yurman and more.

The Galleria has experienced strong leasing momentum since the first quarter of 2020, with more than 170,000 square feet of new leasing signed.

Barry Brown

Positioned at 3510 West 69th St., Galleria Edina is in Edina, one of Minnesota’s fastest growing and affluent communities.

The property is within a thriving submarket that is home to a nationally recognized healthcare campus, 33 million square feet of office space, a top hotel and numerous new multi-housing developments.

Additionally, the asset is surrounded by a highly educated population and in one of the highest net-worth zip codes.

 The JLL Retail team representing the seller was led by Senior Managing Directors and Co-Heads of U.S. Retail Capital Markets Danny Finkle and Barry Brown; Senior Managing Director Dave Monahan; Managing Director Amy Sands; and Senior Directors Cameron Pittman, Matt Hazelton and Cory Villaume.

Dave Monahan

 “Galleria Edina is one of the premier retail assets in the Midwest and has an expansive trade area as a result of being the sole location for many of the tenants in the Midwest region,” Finkle said.

“This is the essence of a generational asset within a remarkable market with unlimited growth opportunities ahead.”

 Park State Bank led the financing of the Galleria. Park State Bank was named the Top-Performing Community Bank in Minnesota with assets under $3B by S&P Global Market Intelligence the last four years (2017, 2018, 2019 and 2020).

Cameron Pittman

 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.

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

 

 Contact:

Kimberly Steele

JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Lee & Associates Grows Northern California Presence with San Francisco, CA Expansion

Jeff Moeller

SAN FRANCISCO, CA – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announces the opening of a San Francisco location.

 The office will specialize in office landlord agency, bio/life science tenant representation, and NNN sales, with plans to strategically recruit teams to grow their multifamily capabilities in the San Francisco and surrounding markets. 

Jeffrey Rinkov

The Lee & Associates San Francisco team will be led by Jeff Moeller, a 24-year commercial real estate veteran.

 "Our expansion approach into the San Francisco market was solely reliant on finding the right professionals," said Lee & Associates CEO, Jeffrey Rinkov.

 "Moeller represents exactly the entrepreneurial and client-focused individual that Lee & Associates embodies," 

 

Contact:

Pamela Murphy Indihar
Lee & Associates
(832) 315-0219
pmurphy@lee-associates.com

Please visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.

 

JLL Capital Markets arranges $22 million sale-leaseback and $14.5 million acquisition financing of a warehouse and office building in Medway, MA

  

Martha Nay

BOSTON, NA – JLL Capital Markets has closed the $21.7 million sale-leaseback and arranged $14.5 million in acquisition financing for a 120,000-square-foot industrial warehouse and office building at 10 Trotter Dr. in the Boston-area community of Medway, Massachusetts. 

 JLL marketed the property on behalf of the seller, Spencer Technologies, Inc.

 Lincoln Property Company acquired the asset and entered into a long-term lease with the seller for them to continue to occupy the property. Additionally, working on behalf of the new owner, JLL placed the acquisition loan with HarborOne Bank.

Amy Lousararian

Built in 1983, 10 Trotter Dr. is situated on nine acres with 85,000 square feet of warehouse and 35,000 square feet of newly renovated office space.

The building offers clear heights ranging from 17 to 21 feet, three tailboard docks, one ramped door, one drive-in door and ample parking.

Coler Yoakam

The property is fully occupied by the seller, a global IT solution and services company founded in 1972 that uses the property as its global headquarters.

 The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Director Coler Yoakam, Senior Directors Michael Restivo and Martha Nay and Director Lenny Pierce, along with Managing Director Sean Lynch with JLL’s Agency Leasing team.

 “This was a great opportunity for Spencer Technologies to take advantage of the sharp increase in industrial asset prices and capitalize on a sale-leaseback transaction to help free up capital and invest back into the business,” Restivo said.

 The JLL Capital Markets Debt Advisory team working on behalf of the new owner was led by Director Amy Lousararian.

Michael Restivo

“The transaction’s tenancy, location and sponsorship were well received by the local lending community, and we are very pleased with the execution by HarborOne in this competitive process,” Lousararian added.

About Spencer Technologies, Inc

Spencer is a global IT solution provider servicing the retail marketplace. Founded in 1972, Spencer has grown to provide its retail clients holistic life cycle services and solutions from it’s from its world headquarters in Medway, Massachusetts. 

 About Lincoln Property Company

Lincoln Property Company is an international real estate firm offering a comprehensive suite of value-added services for their clients.

 Lenny Pierce

About JLL

With its substantial local presence in each of the markets Lincoln serves, the firm ideally situates their offices to clientele: tenants, investors, lenders, and owners of real estate. 

Their people and philosophy are the key ingredients for Lincoln’s solid track record of success.

 

JLL has over 215 dedicated multi-housing professionals in more than 30 markets across the U.S.

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

Sean Lynch

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

Contact:

 Kimberly Steele,

JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com