Tuesday, June 7, 2022

Daum Commercial completes $7 million sale of 34,845-SF, triple-net-leased asset in tight Phoenix, AZ submarket

 

Chris Rogers
                                         PHOENIX, AZ – 

DAUM Commercial Real Estate Services has completed the sale of an 34,845 square-foot, triple-net-leased industrial building situated on a 4.2-acre land parcel in the Phoenix, Arizona submarket of Deer Valley.

 The asset is located at 22200 N 7th Street and sold for a total consideration $7.25 million.

 DAUM Executive Vice Presidents Chris Rogers and Trevor McKendry represented the seller, a private investor out of Arlington, Virginia, and procured the buyer, Boston-based TA Realty, in the transaction.

 “We have had a long-standing relationship with the seller and found an opportunity for them to capitalize on the momentum of Deer Valley, which has been further bolstered by Taiwan Semiconductor Manufacturing Co.’s new chip plant under development in the submarket,” explains Rogers.

Trevor McKendry

 “Our expertise and well-established connections in the local industrial market, especially in this submarket, allowed us to bring a highly active buyer to the table who understood the true value of the real estate and potential of the excess A-1 zoned land, along with meeting the specific terms of the seller.”

 Contacts: 

 Elisabeth Manville / Hanna Kokuashvili  

The Smart Agency  

(949) 438-6262 

hkokuashvili@thesmartagency.com  

www.daumcommercial.com.

 

Ware Malcomb Hires Adam Segalla as Studio Manager, Architecture in Seattle, WA

 

Adam Segalla 
 

SEATTLE, WA, June 7, 2022 – Ware Malcomb, an award-winning international design firm, today announced Adam Segalla has joined the firm as Studio Manager, Architecture in the Seattle office.

  In this role, Segalla will be engaged in business development, staff mentorship, and operations for the Seattle Architecture Studio and assist in growing the office’s practice.  

Segalla brings over 20 years of architecture and design experience to Ware Malcomb and is a licensed architect in the states of Washington and Oregon and in British Columbia, Canada.

Jonathan Thomas

“We are excited to welcome Adam,” said Jonathan Thomas, Regional Director for Ware Malcomb. “He has strong management skills, keen technical knowledge, and business development abilities that will help us continue to grow. We wish him much success in his career with us.”

At his previous firm, Segalla served as Technical Director, responsible for client development, staff mentorship and assisting with QA/QC process restructuring.

 Segalla holds a Bachelor of Arts and Architecture from Sadna in Tel Aviv and a Bachelor of Architecture from SCI-Arc in Los Angeles. 

Contacts: 

 Rachel Devany

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

 

Energy Drink Billionaire Russell Weiner Pays $40 Million for Utah Mansion

Russell Weiner 
 

 PARK CITY, UT -- Russell Weiner founded Rockstar Energy Drink in 2001, grew it into a company spanning over 30 countries, and sold it to Pepsico in 2020 for $3.85 billion.

 He began dabbling in expensive Florida real estate even before Rockstar and is now in Utah where he just set a record for the most expensive home ever sold in the state. Russell just paid $39.6 million for a ski home in Park City.

 

The home includes seven en-suite bedrooms,
 each with its own terrace and firepit

The most interesting thing about Weiner is that his success comes from believing in himself.  He had an idea for an energy drink but ran into a brick wall when he was told “no” by each and every potential investor in the drink industry.

 So, Weiner took out a mortgage on his condo and did it himself.  These days he laughs all the way to the bank as he waves to the CEOs of the major drink brands, according to TopTenRealEstateDeals.com





 Will they ever get an invitation for a ski weekend?  Maybe.  Likely not.  Will there be tears of regret when they see this mansion-that-has-everything?  Very likely!

 

Located in the country’s premier ski city on five ski-in, ski-out acres, the high-alpine property offers not only stunning views but also an over-the-top ski mansion of more than 17,000 square feet. 

 



The home includes seven en-suite bedrooms, each with its own terrace and firepit, three additional baths, and more in-house entertainment than some retail game stores.

 

 Built of Shou Sugi Ban charred cypress with a copper roof, Croatian limestone, and Italian-steel windows and doors, there is a panorama tower, which has 360-degree views, both indoor-and-outdoor swimming pools, a private spa, Himalayan salt room, and indoor climbing wall. 




 There is also a bowling alley, a golf simulator, and a movie theater.  The high-end kitchen has its own stone pizza oven and, never fear mold or a germ, as the home’s technology is as high end as the house.   It filters the water and air and automatically adjusts the lighting to the natural solar cycle. 

 

 Does it rock you to sleep?  Not yet, but hold the thought.

 

Planning for the future is a good thing and billionaire Weiner, who can have almost anything he wants, is ready for a great winter of Park City skiing. 




 His record-breaking ski estate, known as “Monitor’s Rest,” has every conceivable luxury and dramatic views of Monitor Bowl and the Wasatch Mountains.

 

Paul Benson at Engel & Völkers Park City, represented both Weiner and the seller, Iluminus Group. 

 

 Contact: 

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3725
Twitter:  @toptenrealestat
Facebook.com/toptenrealestat

Photos:  Courtesy of Engel & Völkers

Source: gottesmanchapin.com

Stan Johnson Co. brokers 1031 exchange acquisition of single-tenant retail property near Jacksonville, FL for $9.7 million

 

BJ Feller

 MIDDLEBURG, FL -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 4,800-square-foot single-tenant retail property located at 820 Canaveral Trace in Middleburg, Florida.

 The Jacksonville-area convenience store and fueling station is fully leased to Daybreak Market on a long-term absolute triple net lease.

 BJ Feller of Stan Johnson Company represented the buyer. The property traded for more than $9.7 million, although the cap rate was not disclosed.

 


“This was an excellent addition to our client’s portfolio as they looked to reposition their real estate via 1031 exchange and optimize it for their long-term, multi-generational holding strategy,” said Feller, Managing Director and Partner in Stan Johnson Company’s Chicago, Illinois office.

 “We successfully ensured a smooth upleg and downleg, including placing the Daybreak Market under contract during the completion of construction.

 "We very much enjoyed the repeat collaboration with Plaza Street Partners and CIA Commercial Advisors.”

 The large format store reflects the tenant’s latest prototype, and construction was completed in late 2021.

 The property is situated on 2.26 acres and features 16 fueling stations. The site benefits from strong demographics in the immediate area, along with high traffic counts, proximity to schools and national retailers in the vicinity including Publix and Dollar General, among others.

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.”

3D Investments Acquires Tivoli Village in Las Vegas; Taps Vestar as Operator

 

Andrea Blue

LAS VEGAS, NV, June 7, 2022 - Vestar, the largest privately-held shopping center owner, developer and manager in the western United States, announces it has been selected by the privately-held Beverly Hills-based 3D Investments LLC to operate its recently acquired Tivoli Village, an open-air mixed-used lifestyle center in Las Vegas.

Terms of the deal were not disclosed.


Sylvia Song

As third-party operators, Phoenix, Arizona-based Vestar is responsible for the implementation of the leasing, property management, operations, marketing, construction and tenant coordination strategies.

Patrick McGinley

 “Tivoli Village is a truly special place and we are excited to bring our vast expertise to the property,” said Patrick McGinley, president of management services, Vestar.

“For more than 30 years, we have operated successful retail and lifestyle environments that become the focal point of the communities they serve.

"Tivoli Village will be no different and we are honored to partner with 3D Investments as we work to implement the new vision for the center.”


The Restoration Hardware-anchored center, located at the corner of Rampart Boulevard and Alta Drive in the upscale western region of the Las Vegas valley, comprises nearly 670,000 square feet of Class A office, retail and restaurant space
.

 The new onsite leadership team at Tivoli Village includes the following: 

 General manager Andrea Blue, who previously worked at Brookfield Properties where she led the team at Galleria at Sunset as general manager.

 Sylvia Song, who served as marketing manager for Toll Brothers, director of marketing and communications for Sunrise Hospital and strategic marketing manager at Wynn & Encore Las Vegas.

 William Campbell, who brings more than 20 years of leadership operations experience to his role as Tivoli Village’s director of operations. 

Emma Medina

Assistant general manager Emma Medina, who previously served as the property’s staff accountant. She also brings experience from Prime Trust and H&R Block to her new role.


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.”

  tivolivillagelv.comInstagram or Facebook.

Vestar.com.

 

Monday, June 6, 2022

Cunningham announces completion of new, 310,000-SF Emerald Queen Casino and Hotel in Tacoma, WA

Michele Espeland

 TACOMA, WA – Cuningham, a global architectural design firm, has announced the completion of the Emerald Queen Casino and Hotel in Tacoma, Washington, on behalf of the Puyallup Tribe of Indians.

 The destination totals 310,000 square feet and includes approximately 100,000 square feet of slots and table games, a 2,000-seat event center, five food and beverage venues, two parking garages, and a 12-story, 155-room hotel.

Cuningham led the architecture, interior design, and landscape architecture efforts for the brand-new facility, which replaces a previous nearby location that consisted of a converted bingo hall and tents.

 “This state-of-the-art, resort-style gaming destination is the culmination of a long-term vision of the Puyallup Tribe of Indians,” says Brett K. Ewing, AIA, Principal and Executive Director of Cuningham’s Play Studio.

Brett K. Ewing

“The tribe first acquired the Emerald Queen Casino as a paddle-boat casino nearly 25 years ago, eventually expanding to two locations, and now is solidifying its footprint with a ground-up development that brings a fresh, exciting experience with a venue that represents deep ties to the tribe’s culture and the local landscape.”

 Ewing explains that the facility is also one of the first tribal casino developments to be built above ground spanning multiple parcels and city streets.

  This is in line with the trend of tribes pursuing development opportunities in urban settings on unclaimed land trusts, driving higher return on investment.

 


“Integrating the hotel and casino, especially the expanse of the gaming floor, into Tacoma’s urban infrastructure required a one-of-a-kind, innovative design solution,” continues Ewing.

 “Due to site constraints, the Emerald Queen Casino’s gaming floor and amenities are strategically placed four levels above the ground floor and structurally supported by two parking garages.

 "This unique layout required that we obtain air rights from the city and NIGC approval for gaming over public streets.”

Michele Espeland, CID, Principal, Executive Director of Strategy at Cuningham, adds: “The goal of the Emerald Queen Casino and Hotel’s design was not only to craft a venue that is both beautiful and functional, but one that takes guests on a storytelling journey with at every turn.

 "The key was ensuring the design team truly understood the rich history and culture of the Puyallup tribe and the story they intended to tell patrons.

 "This was achieved through meetings with a tribal historians and very close collaboration with the council, keeping that story a common thread woven through all discussions at every step of the way.”

Shaun Peterson

The design was enhanced by custom pieces of artwork by talented tribal members led by Shaun Peterson.

 “Guests are presented with both the glamour of a Las Vegas-style resort and the tribe’s rich history concurrently through a layout and design elements that are purposefully intended to surprise, delight, and allow for renewed experiences,” explains Espeland.

 “From the open arms of welcoming wooden figures, carved by Peterson in the style of the regional tribes of the Pacific Northwest, that greet guests as they arrive, to the organization of the casino floor, to the fluid ribbon geometry and the carefully selected materials – every aspect of the design contributes to an exciting, immersive, and vibrant journey.”

Contact: 

KATIE HAGA

Account Manager

The Smart Agency, Inc.

 

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

khaga@thesmartagency.com W thesmartagency.com

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

Real Estate Finance Rising Star Pablo Clarke Joins Paul Hastings in Los Angeles, CA from Latham & Watkins

 

Pablo Clarke

Los Angeles, CA – Paul Hastings, a global law firm with elite teams in real estate, finance, restructuring, mergers and acquisitions, private equity and litigation, today announced that Pablo Clarke, a prominent real estate finance partner, has joined the firm’s Real Estate practice in Los Angeles from Latham & Watkins, LLP.

Laurel Loomis Rimon

The firm also continues to grow its top tier practices in Fintech and Investigations and White Collar Defense with additions of LeoTsao and Laurel Loomis Rimon in Washington, D.C.

LeoTsao 
Pablo has established a highly respected practice advising leading private equity firms, financial institutions, real estate investment trusts (REITs) and corporations on real estate and finance transactions, including mortgage and mezzanine financing, preferred equity transactions, corporate REIT financing, acquisitions and dispositions, acquisition financing, joint ventures, and commercial leasing.

“Pablo is one of the truly elite practitioners able to deliver high-value solutions to clients in the most complex and fast-moving transactions in real estate and finance,” said Seth Zachary, chairman of Paul Hastings.

“His unique combination of exceptional real estate acumen and a diversified practice serving private equity funds, REITS and other investors, places him in the highest echelons of our profession and we’re delighted to welcome him to the firm."

Seth Zachary

“Paul Hastings’ global platform and elite practitioners across all areas of real estate, finance, capital markets, restructuring and structured credit is an ideal place to grow my practice alongside phenomenal colleagues,” said Pablo. 

“This is an ideal time to join a firm like Paul Hastings that is primed to accelerate growth in the years ahead,” he added.

Eric R. Landau

Eric Landau, chair of Paul Hastings’ Real Estate practice, noted that “Pablo’s addition will help bolster our strength in real estate finance and provide synergies with our clients across a variety of real estate asset classes, including office, industrial, raw land, retail, hospitality, single and multifamily developments, and medical.”

Paul Hastings is one of the pre-eminent Finance practices in the world, representing nearly every major bank as well as the largest and most high-profile asset managers and sovereign wealth funds.

Contacts: 

Allan Ripp 646-285-1779 arippnyc@aol.com 
John Garger jgargernyc@aol.com 
Rebecca Hatton
 rebeccahatton@paulhastings.com

 

 

JLL Capital Markets closes $5 million sale of 2.35-acre waterfront multi-housing development site in downtown Melbourne, FL

The Vues, an approximately 2.35-acre,
in-fill multi-housing development site
located on the Indian River
in Downtown Melbourne, FL
 

 ORLANDO, FL – JLL Capital Markets has closed the $5.45 million sale of The Vues, an approximately 2.35-acre, in-fill multi-housing development site located on the Indian River in Downtown Melbourne, Florida.

 

Jay Ballard 

JLL marketed the property on behalf of the seller, a joint venture between a local property owner and Zilber Limited.

 Real Estate Inverlad, an Orlando-based developer with experience in multi-housing, condominium and mixed-use projects, acquired the site, with plans to construct a multi-housing rental community of approximately 235 units taking advantage of the views of the Indian River.

 This site is zoned Commercial Business District (C-3) and has a Downtown Melbourne Activity Center (DMAC) designation, which allows a density of up to 100 units per acre and a height of up to eight stories or 96 feet overall.

 The Vues site is located just east of U.S. Highway 1, south of Strawbridge Avenue, north of New Haven and West of the Indian River.

Ken Delvillar

The Vues site offers frontage along the Indian River and convenient access to downtown Melbourne, the Melbourne-Orlando International Airport, professional employment and the beach.

 The JLL Capital Markets Investment Advisory team representing the seller was led by Managing Directors Jay Ballard and Ken Delvillar.

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

 

 About Zilber Limited

Zilber Ltd., headquartered in Milwaukee, Wisconsin, is a nationally acclaimed real estate and asset management company that is majority-owned by the Joseph and Vera Zilber Charitable Foundation, Inc., a private, not-for-profit grant-making institution that seeks to improve the well-being of individuals, families and neighborhoods. 

 Joseph and Vera Zilber

 Zilber Ltd. develops residential, commercial and light industrial properties in premier locations across the United States.

 Distinguished by over 70 years of innovative thinking and uncompromising quality, the Zilber philosophy remains the same today as it was in 1949: provide outstanding quality, value and customer care.

Luis Donaldson
 About Real Estate Inverlad

Real Estate Inverlad Development (REID) is an integrated firm that focuses on real estate development, real estate investment, land and debt acquisition, and property management.

 Based in Orlando, Florida REID was founded in 2002 by Luis Donaldson and Chance Gordy.

 With a total development and investment portfolio of more than $888 million and nearly 3.5 million square feet of condominiums, apartments, offices, retail, and mixed-use developments, we are transforming neighborhoods in Orlando, New York, South Florida and Buenos Aires.

Chance Gordy
 

 

 Contact: 

Jenna Sharp, JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com