Cuningham Appoints Sandi Najera as Chief Operating Officer

 

 

Sandi Najera

Cuningham, a national design firm, is pleased to announce the appointment of Sandi Najera as the firm’s Chief Operating Officer (COO).

 Najera will oversee the alignment of Cuningham’s business plan, fiscal functions, and overall strategic vision, while streamlining business operations in a way that fosters growth and continues to build on Cuningham’s position as an industry leading design firm.

 Jacqueline Dompe

“We are excited to have Sandi join the Cuningham team,” Chief Executive Officer Jacqueline Dompe says. “Her insightful approach to operational leadership will be instrumental in executing the firm’s short- and long-term performance goals.

"Most importantly, Sandi’s personal commitment to curiosity and excellence within her teams is a natural fit with Cuningham’s culture and values.”

 Najera has more than 30 years of experience, including over 15 years of management experience within the Architecture/Engineering/Construction (AEC) industry. During this time, she has earned a reputation as a progressive leader who thrives on elevating those around her.

Juan M. Perez

Cuningham Director of Architectural Design Juan Perez praises Najera’s talents as a high-growth strategist and her track record of taking businesses to the next level by fostering team cohesion.

 Previously, Najera has held operational leadership roles for a variety of companies, including global fortune 200 companies AECOM, and JLL, where she served as the organization’s Senior Vice President for its West Region Business Operations.

 

Contact: 

Katie Haga

The Smart Agency, Inc.

khaga@thesmartagency.com

 

 

OAK Attracts Renowned Retailers, Hotel, Multi-family Residential Partner, and Lender in Oklahoma City, OK

 

Katy Slade

OKLAHOMA CITY. OK – OKC-area native Ryan McNeill of Veritas Development today announced major project updates for OAK, the 20-acre mixed-use community coming to 5101 North Pennsylvania Avenue, just south of Nichols Hills in Oklahoma City.  

Ryan McNeill
(Photo courtesy The Oklahoman)

An unequaled retail, residential and hospitality experience is taking shape at OAK with acclaimed, first-to-market brands RH, Arhaus and Capital Grille.

 

OAK will also include a 132-key boutique hotel in partnership with Dallas-based Gatehouse Capital and 320 multifamily homes developed with Mintwood Real Estate. 

Nick Venghaus

 Local retailers and restaurants will play an integral role in the leasing plan across the initial and ensuing phases.

 

“We have been preparing the site for development and securing the right partners to deliver a best-in-class, mixed-use experience to Oklahoma City,” said McNeill.

Jeremy Sain

“With activated greenspace, miles of neighborhood-connected sidewalks, rooftop dining experiences, vibrant restaurant patios and unique storefronts, OAK will be a walkable destination unlike any other commercial development in Oklahoma.”

 

Attracting first-to-market retailers and restaurants 

 

RH – a curator of design, taste and style in the luxury lifestyle market offering one of the largest fully integrated assortments of home furnishings, lighting, textiles and décor in the world – will open its first Design Gallery in the region.

 

 At 42,000 square-feet, this destination will feature a  Rooftop Restaurant and Garden, Wine Bar, in-house Interior Design Firm, and expansive spaces devoted to the brand’s concepts. 

 

Arhaus, a premium home furnishing brand known for its globally inspired, artisan-crafted furniture and decor, will construct a 17,000 square-foot space as a showcase for its heirloom quality products and complimentary home design services.

 

Upscale steakhouse Capital Grille will open its first location in Oklahoma. The restaurant will occupy a 10,000-square-foot space at the corner of North Pennsylvania and the Northwest Expressway.

 

Everett Dobson

Introducing a new hotel experience to the market

 

Additional details about the unique hospitality offering at OAK will be announced later this fall.

 

Creating an exceptional living experience

 

Veritas engaged luxury multi-family housing developer Mintwood Real Estate to create a first-of-its-kind, redefining multi-family development for Oklahoma City, with amenity-rich housing for professionals seeking a walkable urban lifestyle.  

 

OAK’s 320 units will have curated interior finishes, including quartz countertops, walk-in closets, and powder baths. 

Michael Nagy 

 The building amenities include a first-class fitness center featuring a kid’s playroom, private work and conference rooms, an entertainment suite featuring a golf simulator and shared kitchen, a resort-style pool, and elevated courtyards. 

 

“We’re excited to be a partner on this transformational project for Oklahoma City and the region,” says Mintwood’s Co-founder and Principal Nick Venghaus. 

 

 “Veritas has thoughtfully studied the key components of best-in-class developments around the nation and assembled a team that knows how to deliver excellence.” 

Chris Speciale

“We are creating a vibrant, mixed-use neighborhood with luxury housing options to meet the growing demand to live in dynamic districts within Oklahoma City,” said Mintwood’s Co-founder and Principal Katy Slade.

 

Construction Commencement

Project site work began during the summer and vertical construction is scheduled to start in the first quarter of 2023.  

 

Veritas secured its construction loan from Bank OZK in September.  JLL Capital Markets sourced the financing and acted as advisor to the development team, led by Senior Managing Director Jeremy Sain.

 

McNeill is joined by Everett Dobson and the Dobson family as partners in the multi-phase project.

 

To learn more, please visit oakokc.com and follow the project on Facebook, Twitter and Instagram.

 

. 

Open Realty

 

Michael Nagy and Chris Speciale with Open Realty advise on the retail leasing assignment for OAK.

 

Contacts: 

 

Michael Nagy - michael.nagy@openra.com

Chris Speciale - chris.speciale@openra.com

The Wilbert Group

Amanda Cross, Fellow

www.thewilbertgroup.com

m: 770-313-0440

www.oakokc.com

www.mintwoodre.com.  

www.ozk.com.

www.ozk.com.

 

 

 

 

MCA Realty achieves first retail acquisition in Arizona with $12 million purchase of 35,000-SF shopping center in Sedona

 35,000-SF Hillside Sedona Shopping
 Center located at 671 AZ-179, Sedona, AZ.

 SEDONA, AZ – MCA Realty, a full-service real estate investment and management company based in Orange County, California, has achieved its first retail acquisition in Arizona with the purchase of the 35,000+ square-foot Hillside Sedona Shopping Center located at 671 AZ-179, Sedona, AZ.

 The retail property was purchased in an off-market transaction through an existing broker relationship.

Tracy Cartledge

Tracy Cartledge, Bob Buckley, Shane Carter, and Chris Hollenbeck of Cushman and Wakefield represented the buyer in the transaction.

This $12.45 million transaction also represents MCA Realty’s first acquisition in the Sedona submarket, according to Tyler Mattox, Principal at MCA Realty.

“We were interested in the asset based on solid retail fundamentals and the lack of available competing space in the Sedona submarket,” says Mattox.

Robert (Bob) Buckley

Built in 1989 and 1997, Hillside Sedona Shopping Center was 89% occupied at purchase. MCA Realty is looking to lease up the remaining space with the expertise of leasing broker Jack McMahon of McMahon & Miller Commercial Real Estate.

Additionally, the firm plans to implement improvements such as updating the paint, signage, and asphalt at the property.

Shane Carter

“As part of our value-add approach, we will increase the aesthetic appeal of this asset to drive foot traffic and retail sales,” shares Mattox.

“We want to ensure we maximize the number of consumers at the retail center to support our tenants and encourage their growth. Signing synergistic tenants and elevating the property’s appearance are ways to achieve this.”

Chris Hollenbeck

The Hillside Sedona Shopping Center contains multiple recognizable companies within the fashion, art, dining, and service industries including The Hudson, Javelina Cantina, Berkshire Hathaway, and Mooney’s Irish Pub & Burger Bar.

The acquisition was completed outside of MCA Realty’s $50 million industrial growth fund; although, the firm is still actively deploying equity from the fund for other transactions.

Jack McMahon

According to Mattox, the firm also intends to raise another fund for future acquisitions.

 About MCA Realty

MCA Realty is a full-service real estate investment and management company specializing in commercial properties throughout the Western U.S. 

Tyler Mattox

The goal of the company is to identify real estate investment opportunities and execute value creation strategies that maximize returns to its investors.

MCA Realty's principals, Tyler Mattox, Jared Gordon, and Peter Cheng have successfully navigated a full spectrum of market conditions, and pride themselves on building and maintaining strong relationships with industry partners.

 

Jared Gordon

Contacts: 

Brooke Belt/Katie Haga

The Smart Agency, Inc.

(949) 438-6262

bbelt@thesmartagency.com

 www.mca-realty.com.

 

Tricera Capital Finalizes 35,900-SF Lease with Amped Fitness at The Press Building in West Palm Beach, FL

 

Jennifer Houston

WEST PALM BEACH, FL, Oct. 24, 2022 – Tricera Capital, the Miami-based commercial real estate firm with a vast portfolio across the Southeast U.S., secured a strong bookend anchor tenant for the retail component of its pioneering mixed-use project - The Press - in West Palm Beach.

Amped Fitness, a dynamic fitness retailer that is rapidly growing its South Florida presence, is leasing 35,900 square feet at Shops at the Press.

Ben Mandell 

Amped Fitness will serve as the western anchor at the ~120,000-square-foot Shops at the Press, with Joseph’s Classic Market anchoring the eastern portion and set to open this November.

Blending in-person high-intensity interval training (HIIT) and personal training with virtual workout programs, Amped Fitness is quickly gaining a substantial following.

Shops at the Press will be its 10th location in Florida and first in Palm Beach County, according to the company’s website.

The Press also includes the ~136,000-square-foot Workspaces at the Press office building. Tricera is redeveloping the former Palm Beach Post campus in a creative example of adaptive re-use.

“Amped Fitness is a great complement to the other health and wellness at the project, and will strengthen the overall retail mix at Shops at the Press,” Tricera’s Managing Partner, CEO Ben Mandell said.

“Our team is strategically curating and building a tenant roster to serve as area amenities for the many residents, professionals, and visitors.”

Tricera’s in-house retail leasing team, led by Executive Vice President | Head of Retail Leasing Jennifer Houston, arranged the Amped Fitness lease.

In July 2022, Tricera announced additional retail and office leases that account for a combined total of more than 68,000 rentable square feet.

Those tenants include Salons by JC, Calico, Restore Hyper Wellness and Raw Jūce at Shops at the Press, and SROA Capital, and Knotel at Workspaces at the Press.

Around the same time, Tricera obtained a $19 million loan upsizing from Monroe Capital LLC of Chicago. Those funds are being used for tenant and site improvements and to continue the buildout of the individual retail and office spaces.

Located on more than 11 acres along the South Dixie corridor of downtown West Palm Beach, The Press is a shining demonstration of Tricera’s fully integrated platform’s core strength.

The firm found a way to modernize the asset while still maintaining the site’s integrity; paying homage to an important piece of the city’s history. Nearly all existing structures are being preserved.

Earlier this month, Mandell was a featured speaker at Bisnow’s Palm Beach County State of the Market event.

He discussed The Press, Tricera’s other major holdings in the county including One Clearlake and 1675 Midtown, and the influx of domestic and corporate migration into the county.

The Press also includes a Starbucks, which opened in June 2021 and has upscale features and a drive thru.

Gal Bensaadon

Other members of the project team include:

·       Miami-based Red Door Construction, led by Gal Bensaadon

·       St. Petersburg-based Storyn Studio for Architecture, led by Everald Colas

·       St. Petersburg-based Ya La’ford, a renowned muralist who is creating public art displays on the project’s exterior façade

 

Everald Colas

For more information, please visit www.triceracap.com.

 

About Tricera Capital: 

Miami-based Tricera Capital is a real estate investment firm focused on value-add, urban retail, office and mixed-use investments and developments throughout the United States. 

Since launching in 2017,Tricera has leveraged its institutional real estate experience, relationship and entrepreneurial spirit to create off-market opportunities and quickly amass a portfolio in select target markets.

 Ya La’ford

The team of seasoned real estate professionals with a deep track record of success in deal sourcing, leasing, acquisitions, syndication and overall execution. The talent and experience enables Tricera Capital to consistently perform and deliver superior returns to investors.

  

Contacts: 

Eric Kalis/Daniel Benjamin

954-370-8999

ekalis@boardroompr.com dbenjamin@boardroompr.com

www.triceracap.com. 

JLL Capital Markets closes $113 million sale of Coastal Commerce Center in Savannah, GA to Stream Realty Partners

Coastal Commerce Center in Savannah, GA
comprises two Class A distribution facilities
 totaling 826,250 square feet

 

 ATLANTA, GA – JLL Capital Markets has closed the $113 million sale of Coastal Commerce Center, two Class A distribution facilities totaling 826,250 square feet

Britton Burdette

 JLL represented the seller, a joint venture between AEW Capital Management and Strategic Real Estate Partners, in the sale to Stream Realty Partners LP.

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Britton Burdette, Dennis Mitchell and Matt Wirth, Director Mitchell Townsend and Associate Jim Freeman.

 “Savanah is a rapidly growing industrial market that is posting some of the best numbers in the country currently,” said Burdette.

Dennis Mitchell

“This market strength along with the offering's best-of-market location helped to drive very strong interest from buyers. 

"The outlook for the Savannah industrial market is excellently and should drive growth in value for quality assets such as this going forward."

 Coastal Commerce Center comprises two fully leased distribution facilities offering 130’-185’ truck courts, 204 trailer parking spaces and 398 auto parking spots.

Matt Wirth

Building A is a 462,000-square-foot cross-dock building with 36’ clear heights leased by Performance Team, LLC. Building B is a 364,250-square-foot rear-load building with 32’ clear heights leased by IDC Logistics, Inc.

 The property boasts approximately 3,000 linear feet of prime frontage on Interstate 16 with direct access to I-95, I-516 and Pooler Parkway, the buildings provide direct connectivity to Savannah’s Garden City Terminal via a signalized intersection at Dean Forest Road.

Coastal Commerce Center is located at 1514 Old Dean Forest Road putting the buildings six miles from Garden City Terminal and seven miles from Savannah Hilton Head International Airport.

Mitchell Townsend

Coastal Commerce Center benefits from its position within the Garden City Terminal, the single largest and fastest-growing container terminal in America, growing cargo volumes by 20% year-over-year.

With $3.2 billion to be invested over the next decade, the Port of Savannah’s rapid expansion will continue to drive explosive industrial fundamentals.

Savannah ranks as one of the best industrial markets in the country with the lowest vacancy rate in the nation at 0.5% and one of the highest amounts of tracked tenant demand at 30 million square feet.

This has led to explosive rental rate growth in the market (25.3% YOY) which is projected to continue. The market has a robust pipeline to keep up with tenant demand, however, 47% of new construction is already pre-leased or in negotiations.

 

Jim Freeman

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:

Cierra Lacasse

PR, Hotels & Hospitality, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 www.streamrealty.com.