Friday, October 21, 2022

Miller Construction Adds Jesse Newton as Director of Business Development

 

Jesse Newton 

Orlando, FLOct. 21, 2022 – Miller Construction, a statewide, privately-held construction firm, announces the addition of Jesse Newton as Director of Business Development in the firm’s Central Florida office.

Newton will be vital to the firm’s growth in the area as he has an extensive sales and marketing background in the construction and hospitality industries.

“Jesse’s track record in creating and managing revenue-generating business development strategies will be extremely valuable to our Miller team,” said Miller Construction President Brian Sudduth. “We know that his experience and community involvement will facilitate our continued expansion throughout Florida.”

 

Brian Sudduth

Newton earned a Bachelor of Science in Business Administration, Management, and Operations, as well as a Master of Science in Hospitality & Tourism Management from the University of Central Florida.

 

 CONTACT:

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 Millerconstruction.com

 

MCA Realty sells 136,350-SF multi-tenant industrial park in Seattle, WA for $33 million

 

Rebecca Perlmutter

Lakewood, WA – MCA Realty, a full-service real estate investment and management company based in Orange County, California, announces the sale of Lakewood Business Park, a 136,350 square-foot multi-tenant industrial park in Lakewood, Washington, a submarket of Seattle, for $32.9 million to a private 1031 exchange buyer.

Paige Morgan

Brett Hartzell, Paige Morgan, and Rebecca Perlmutter of CBRE and Nick Ratzke, John DeHan of Neil Walter represented MCA Realty in this transaction.

Tyler Mattox

The buyer was represented by Gary Stache, Anthony DeLorenzo, and Bill Maher of CBRE.

Brett Hartzell

According to Tyler Mattox, Principal at MCA Realty, this transaction marks the first disposition of the firm’s $50 million industrial growth fund.

Nick Ratzke

MCA Realty first purchased the multi-tenant industrial park at 10107 South Tacoma Way for $18.23 million in December 2020, marking its first acquisition within the fund.

John DeHan 

“Through our value-add business plan and strong leasing efforts, we were able to increase in-place rents considerably and nearly double the valuation of Lakewood Business Park since acquiring the asset,” says Mattox.

Gary Stache

“Part of the value creation was effectuated by turning an underutilized, excess land component into lease revenue by providing tenants with outside storage.”

Anthony DeLorenzo

To augment value and maximize the use of the property, the firm developed multiple fenced yards on a portion of unimproved land to further generate revenue, Mattox explains.

MCA Realty also implemented updates to the property, including new paint, asphalt, curbing, lighting repairs, and landscaping.

“Our approach allowed us to significantly increase occupancy at Lakewood Business Park,” says Mattox. “While the asset was 85% leased when we acquired it, we were able to sell it at 100% occupancy after completing these upgrades.”

Bill Maher 

MCA Realty’s widening footprint in Washington has shown the firm’s ability to grow within markets. After acquiring Lakewood Business Park, the firm went on to acquire two more properties in the Seattle area.

“Our ability to expand our portfolio in the Western region, including the Pacific Northwest, has been a benefit to our continued growth,” shares Mattox. “In 2020, we recognized the Pacific Northwest and Tacoma and Seattle markets as top performers with low vacancy rates at the time and strong growth characteristics. As of Q3 2022, the Seattle industrial vacancy rate remains low at 3.5%.

Built in 1978/1981 and comprising six buildings, Lakewood Business Park is located less than 8 miles from the Port of Tacoma and less than 2 miles from the Lewis-McChord joint army and air force base. These destinations drive local industrial demand, as the Port of Tacoma supports more than 42,100 jobs and Joint Base Lewis-McCord has a population of over 295,000

As MCA Realty grows, the firm continues to deploy the remaining capital within its $50 million industrial growth fund and plans to raise a second fund in the near future, according to Mattox.

 

 CONTACTS:

Kiera Moran/Katie Haga

The Smart Agency, Inc.

(949) 438-6262

kmoran@thesmartagency.com

 

 

Thursday, October 20, 2022

SR Watt Company Closes on $60 Million Acquisition of Suburban Portland, OR Multifamily Portfolio

 

Carrie Kahn
 

Portland, OR, Oct. 20, 2022 – SR Watt Company, a Southern California-based real estate investment and management firm, has announced the acquisition of two class A suburban Portland multifamily properties including the 101-unit Cannery Row, at 22550 SW Highland Drive, Sherwood, and the 87-unit Westline, at 4545 SW Angel Avenue, Beaverton.

 Courtney Trujillo

The seller, Madison Park Financial Corp. was represented by JLL Capital Markets Investment Sales Advisory team of Ira Virden, Carrie Kahn and Frank Solorzano. SR Watt represented itself in the $60 million portfolio acquisition.

 “The Pacific Northwest is the ideal market for SR Watt to expand its multifamily footprint thanks to its strong market fundamentals that include migrating population and high-growth employment in a suburban metropolitan area.

 Frank Solorzano

Plus, we see great opportunity to enhance placemaking opportunities in these communities that further enhance resident quality of life,” said Courtney Trujillo, president, SR Watt. This marks SR Watt’s first multifamily acquisition since its launch in July 2022.

 Built in 2013, Cannery Row features studio-, one-, two- and three-bedroom units with an average size of 840 square feet. Cannery Row is adjacent to the Sherwood Saturday Market at Cannery Square and a few blocks from Old Town Sherwood. 

The property features a resident lounge, fitness center, community patios, and pet grooming station.

Ira Virden

 SR Watt plans to renovate Cannery Row with interior unit upgrades, a new dog park, outdoor kitchen and social area, and upgraded fitness center. 

 Offering studio, one- and two-bedroom units with an average size of 737 square feet, the 2017-built Westline also includes 2,280 square feet of retail. 

Westline is located in the heart of downtown Beaverton Historical District. Community amenities include a pet/bike wash station, fitness center, rooftop deck with BBQ fire pit, and views of Mt. Hood.

  

 CONTACT:

 Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

srwatt.com.

madisonpark.com

 

 

 

PEBB Enterprises Closes $22.5 Million Sale of Galleria Pavilion near Las Vegas

 

Deana Marcello

LAS VEGAS, NV – Oct. 20, 2022 – PEBB Enterprises, the South Florida-based private equity real estate investment company with a national commercial real estate portfolio, completed the $22.5 million sale of Galleria Pavilion in the Henderson suburb of Las Vegas, Nevada.

Jennifer (Jen) Lee 

The company successfully leased up and stabilized the multi-tenant retail property before the disposition.

Adam Malan 

The transaction closed on Oct. 18. Dong Koo Kim and Jong Ok Kim, trustees of the Dong Koo Kim and Jong Ok Kim Family Trust, are the buyers of the 601-617 Mall Ring Circle property.

Ian Weiner

Galleria Pavilion is a 64,598-square-foot retail center on an outparcel of the 1.1 million-square-foot Sunset Mall.

Dong Koo Kim 

It is 95% occupied. Notable tenants include Buffalo Wild Wings, Panera Bread, Nothing Bundt Cakes, Aqua Tots and Plato’s Closet.

PEBB acquired the property in October 2019, when it was only 37.4% occupied. The company saw potential in Galleria Pavilion due to its proximity to the Sunset Mall and US-95.

“Our team was able to quickly unlock the significant leasing upside at Galleria Pavilion,” PEBB President and CEO Ian Weiner said.

Jong Ok Kim

“That enhanced the property’s value to the point where pursuing a disposition made sense. With a dynamic tenant roster that complements the adjacent Sunset Mall, Galleria Pavilion is well-positioned for long-term success.”

Adam Malan and Deana Marcello of LOGIC Commercial Real Estate represented PEBB in the Galleria Pavilion sale. Jennifer Lee of Berkshire Hathaway Home Services Nevada represented the buyers.

Galleria Pavilion, 601-617 Mall Ring Circle,
 Henderson, NV

Henderson is Nevada’s second-largest city with an estimated population of 290,000 residents (as of 2016), trailing only Las Vegas. It has been recognized by ForbesBloomberg Business Week and the FBI Uniform Crime Report as one of the safest cities in the U.S.

PEBB currently owns Cheyenne Commons, a 325,425-square-foot shopping center in Las Vegas. In August 2022, the company obtained a $36.15 million refinancing for the Walmart-anchored center.

 

 CONTACTS:

 

Eric Kalis/Daniel Benjamin

954-370-8999

ekalis@boardroompr.com/

dbenjamin@boardroompr.com

 https://pebbenterprises.com/.  

 

JLL Capital Markets closes sale of Titan Development’s Gateway 35 Commerce Center Building 1in Georgetown, TX

 

Megan Babovec

 DALLAS, TX,  Oct. 19, 2022 JLL Capital Markets and Titan Development announced today they have closed the sale of Titan Development’s Gateway 35 Commerce Center Building 1, a newly built 294,297-square-foot single-tenant industrial building in the Austin suburb of Georgetown, Texas, occupied by CelLink Corporation.

 JLL represented the seller, Titan Development, in the sale. The price was not disclosed.

 The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Trent Agnew and Dustin Volz, Directors Dom Espinosa, Associate Josh Villarreal and Analyst Megan Babovec.

Dom Espinosa

Completed in June 2022, Gateway 35 Commerce Center Building 1 is a 100% climate-controlled, cross-dock building featuring 36’ clear heights, 94 trailer stalls, 60’ speed bays, 185’ truck court and 220 parking spaces (0.75/1000 SF).

 The building was pre-leased to CelLink, serving as a mission-critical facility for the tenant and is their first manufacturing and distribution facility in Texas. CelLink, which is based in California, manufactures the world’s largest and most electrically and thermally conductive flexible circuits.

 Positioned on 20.96 acres at 2550 N IH-35 Frontage Road, the property is in North Austin at the intersection of Interstate 35 and Highway 130, two of the most vital north/south thoroughfares for the Central Texas region.

Josh Villarreal

As a result, the tenant can reach nearly 20 million residents within a three-hour drive. Furthermore, Gateway 35 Commerce Center Building 1 is located 35 minutes from Austin-Bergstrom International Airport and is less than 30 minutes from the market’s largest demand drivers, including Tesla Gigafactory and Samsung Taylor Plant.

 In addition, the area’s labor force encompasses more than 700,000 potential workers and spans 35 miles north to Temple and 45 miles south to Buda.

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

 

 CONTACT:

 Cierra Lacasse, JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

www.titan-development.com.

 

Wednesday, October 19, 2022

Developers to Showcase Central Florida Projects at Inaugural Food & Wine Festival on Church Street in Downtown Orlando, FL

 

 Shayna Hansen

ORLANDO, FL --- Central Florida commercial real estate developers and owners have reserved exhibit space at Central Florida NAIOP’s Inaugural Food & Wine Festival, set for Thursday Nov. 10 on Church Street in Downtown Orlando.  

 Shayna Hansen, NAIOP Board of Directors President-Elect and Regional Director of Lincoln Property Company – an event sponsor – said the collaborative event will run from 5 to 9 p.m. and showcase Central Florida’s commercial developments and upcoming projects.

 From 5 to 7 p.m., those registered to attend will learn about the latest developments, speak directly with developers and network with CRE professionals, she explained. 

Lindsay Winter

“We are very excited about this event and have received amazing support from our community partners,” she said.  

“This festival will be a tradeshow style event that will provide a platform for Central Florida developers to share new, planned and existing projects with NAIOP’s network of brokers, developers, owners, investors and associated professionals.”  

 Registration to attend is $50 for Members and Brokers; $45 for Developing Leaders and $100 for Non-Members.  Registration closes Nov. 3, 2022.  Late registration is $150.

Along with Lincoln Property Company, developers already signed up for the event are Piedmont, Highwoods, Tavistock, Prologis, Foundry, Westwood, McCraney, Link, CFL Development, Cadence Partners, Chesterfield and Hamlin.

 Event Sponsors include Ocean Bank, Synovus, Hunton Brady, Franklin Street, RB Marks, McCraney, McDonald, Brasfield & Gorrie, Avison Young, Interstruct, JLL, and CoStar/Loopnet.

 CONTACTS:

Shayna Hansen, President-Elect NAIOP Bd of Directors and Director, Florida Region, Lincoln Property Company,

 407-872-3516  Shansen@LPC.com

Lindsay Winter, Chapter Executive Director, NAIOP Central Florida,

407-443-0568; Lindsay@naiopcfl.com 

Beth Payan, Larry Vershel Communications,

407-461-3781 or beth@larryvershel.com.

 

 

KAI Hires Micah Gray, AIA, as Director of Technology & Innovation

 

Micah Gray

St. Louis, MO, Oct. 19, 2022 -- KAI is excited to announce the hiring of Micah Gray, AIA, to the new position of Director of Technology and Innovation.

 In this new role, Gray will work to create content, develop company standards, and train individuals on implementing industry technology into everyday practice.


Brad Simmons

“Micah is an experienced industry professional with a comprehensive grasp of technology opportunities from pre-design to field implementation,” said KAI Managing Partner Brad Simmons, FAIA. 


His initial focus will be elevating the Design & Engineering technology platforms, maximizing their utilization and expanding the knowledge base of our team." 


Gray comes to KAI with over 10 years of A/E/C industry experience. Past roles have included BIM Manager for GMA Architects, Digital Practice Manager for Lawrence Group, and BIM Engineer for Tarlton Corporation.

  

Gray has a Bachelor of Architecture and a minor in Business Administration from Drury University in Springfield, Missouri. 


He is a Licensed Architect in Missouri and a member of the Associated General Contractors of Missouri’s Design and Construction Technology Conference Steering Committee as well as a Steering Committee Member of the Revit User Group of St. Louis.

CONTACT:

Jennifer Beidle

Jennifer Beidle Communications
St. Louis, MO 63129
United States

Tuesday, October 18, 2022

Ware Malcomb hires Clark Pangilinan as director, healthcare design in Irvine, CA office

Clark Pangilinan
 

IRVINE, CA, Oct.18, 2022 -- Ware Malcomb, an award-winning international design firm, today announced Clark Pangilinan has joined the firm as Director, Healthcare Design in the firm’s Irvine office.

 In this role, he will lead the continued growth and management of the firm’s Healthcare Design Studio in the Southern California region, including the Los Angeles, Orange County and San Diego markets. 

Pangilinan brings more than 24 years of experience to Ware Malcomb. Most recently, he worked for an architecture firm in San Diego where he focused on complex healthcare projects.

“Clark has earned a respected reputation in Southern California through his ability to lead and collaborate on complex healthcare projects,” said Mary Cheval, Principal for Ware Malcomb. 

Mary Cheval
 

“We are excited for his leadership and contributions in continuing to expand our Healthcare Design practice.”

A registered architect in the state of California, Pangilinan holds a Bachelor of Architecture from University of Southern California.

 He is a member of the National Council of Architectural Registration Boards and the American Institute of Architects, San Diego. 

 CONTACTS:

 Rachel Devany

VP Public Relations,

KCOMM for Ware Malcomb

rachel@kcomm.com

 

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

 

Maureen Bissonnette, Principal, Marketing, 949.660.9128, 

mbissonnette@waremalcomb.com