Monday, April 10, 2017

Stos Partners Completes Three Commercial Property Deals in Southern California

  
Walnut Auto Center,  19116-19130 East Walnut Drive, in Rowland Heights, CA



  
CJ Stos
SAN DIEGO, CA  – Stos Partners, a privately held commercial real estate investment and management firm, has completed three commercial property transactions in Southern California, including the sale of a multi-tenant industrial asset in Rowland Heights, the acquisition of a single-story office building in Encinitas, and the acquisition of a two-story office building in San Dimas, California.

“The market is moving at a rapid pace and our firm is well-positioned to leverage that momentum with strategic transactions,” says CJ Stos, Principal of Stos Partners. “We completed six transactions in the first quarter of 2017, and we continue to actively pursue opportunities that match our investment thesis.”

Stos Partners’ investment platform centers on recognizing inherent value. The firm is actively acquiring industrial, office, and mixed-use properties in coastal and urban areas of Southern California that are well-located but in need of hands on management to realize full asset value.

Stos Partners’ three recent transactions include:

Sale of Multi-Tenant Industrial Property in Rowland Heights       

            Stos Partners recently sold the Walnut Auto Center, a multi-tenant industrial property in Rowland Heights, California for $6.6 million. Stos had acquired the asset in 2015 in an off-market transaction for $5 million.

Taylor Ing
            The 30,216 square-foot property, which is comprised of eight automotive services tenants, was acquired by a private investor.

            Walnut Auto Center is located at 19116-19130 East Walnut Drive, in Rowland Heights, California.

Acquisition of Two-Story Office Building in San Dimas

            Stos Partners also acquired a vacant 50,643 square-foot office building previously owned by ITT Technical Institute in San Dimas, California. Stos acquired the asset through a trustee sale for $5 million.

            Taylor Ing, Managing Director at Newmark Grubb Knight Frank, represented Stos Partners in this transaction. The property is located at 650 West Cienega Avenue in San Dimas, California.

Acquisition of Downtown Encinitas Office Building

            Stos Partners also acquired a vacant office building in downtown Encinitas from an owner-user for $2 million.

The 3,400 square-foot office building is located at 655 Second St in Encinitas, California.

For a complete copy of the company’s news release, please contact:

Lauren Burgos / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
         





Sunday, April 9, 2017

Trion Properties Expands Bay Area Portfolio; Acquires Value-Add Multifamily Communiity in San Leandro, CA for $36.6 Million


Bel Brook and Hideaway Apartments, San Leandro, CA

Max Sharkansky
SAN LEANDRO, CA – Trion Properties, a private equity real estate firm with a niche focus on value-add multifamily investments, along with its joint-venture partner DVO Real Estate, a New York-based private real estate investment firm, has acquired Bel Brook and Hideaway Apartments, a 146-unit value-add multifamily property at 77-85 Estabrook Street in the San Leandro submarket of the East Bay, for $36.6 million.

This is Trion Properties’ fourth Bay Area acquisition in less than 15 months, bringing its existing Bay Area multifamily portfolio to a total of 262 units, according to Max Sharkansky, Managing Partner at Trion Properties.

            “San Leandro is thriving and experiencing tremendous revitalization, making it poised for long-term growth and investment potential,” says Sharkansky. 

“Located in the heart of the dynamic East Bay, this property is within walking distance to a BART station and a mile away from the San Leandro Technology Campus, a 750,000 square-foot mixed-use development which will bring an estimated 1,800 tech jobs to the area.

“The enormous job growth throughout this region is driving demand for quality housing located in close proximity to transit options and major employers.”

            Sharkansky notes that the entire East Bay is undergoing rapid growth as major tech giants and employers expand their presence in this region. Uber will relocate its corporate headquarters to Oakland, while Tesla has brought thousands of high paying jobs to Fremont.

Mitch Paskover
            In addition to the region’s technology sector growth, San Leandro is home to three of the Bay Area’s largest craft breweries, a thriving downtown district with a host of retail and restaurant amenities, and the San Leandro Monarch Beach, a 40-acre mixed-use development anticipated to break ground this year.

“We are bullish on the East Bay and have a proven track record in this market,” continues Sharkansky, who notes that Trion recently acquired two value-add multifamily assets in Hayward and San Leandro last year.

“This property is located only a block away from our Metro348 property on the same street. Metro348 boasts a strong and diverse mix of tenants, many of whom work in the technology and healthcare industries, including employers such as Uber, Kaiser, and GE Health. 

"Based on our enormous success in repositioning our existing Metro348 asset, the Bel Brook and Hideaway Apartments presents a unique opportunity for us to execute a similar value-add investment strategy and capitalize on the tremendous growth of this region, enabling us to generate strong cash flow and risk-adjusted returns to our investors.”Trion Properties and joint-venture equity partner DVO Real Estate acquired this property from the John Sullivan family.

 
Brad Lehman
Acquisition financing was arranged by Continental Partners through NXT Capital. John Leyvas Jr. and Brad Lehman of Newmark, Cornish and Carey represented both the buyer and the seller in this transaction.

The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment.

DVO’s team is made up of highly experienced real estate investors with more than 100 years of combined experience in the industry, including 30,000+ apartment units and $6+ billion of real estate and private equity transactions. Additional information is available at www.dvorealestate.com  or by calling +1.212.391.0902.

For a complete copy of the company’s news release, please contact:

Lauren Burgos / Katie Kea
Brower, Miller & Cole
(949) 955-7940



HFF closes sale of 4-building industrial distribution center in Houston, TX

 
Four Distribution Warehouses, West by Northwest Industrial Park, Houston, TX
                                                                                                                  (Photo by Jud Haggard)

 
Rusty Tamlyn

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of four Class B distribution warehouses totaling 809,196 square feet in the West by Northwest Industrial Park in Houston, Texas.

HFF represented the seller, TH Real Estate an affiliate of Nuveen (the investment management arm of TIAA).  Prologis, Inc. purchased the property for an undisclosed price. 

The property comprises buildings at 14902 and 15002 Sommermeyer, 6450 Clara and 10410 Papalote in Houston’s Northwest Industrial submarket.  The buildings are situated on 39.6 acres near the intersection of Beltway 8 and U.S. 290, considered the “main and main” intersection for bulk industrial product.

 The front-load distribution buildings feature 14.2 percent office finish and clear heights ranging from 20’ to 24’.  Currently 95 percent leased, property tenants include Tercel Oilfield Producers USA, LSI Integrated Graphics, Sweet Mesquite Baker, Mason Road Sheet Metal and Southern Container.

HFF’s investment sales team was led by senior managing director Rusty Tamlyn and director Trent Agnew.

“Given its location, historical occupancy and institutional maintenance ownership, this collection of assets generated significant interest from the investment community,” Tamlyn said.  “Prologis now owns 24 of the 26 assets in this business park and has a long history in the area, so they were a logical buyer.”

Trent Agnew
“The fact that this property generated more than 10 offers from a mix of institutional capital is a statement on how the Houston industrial market is viewed currently,” Agnew added.  “There is a significant amount of capital to be deployed with few opportunities of scale like this presented, especially in Houston’s top submarket.”

For a complete copy of the company’s news release, please contact:

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell 617.543.4873 | www.hfflp.com


HFF arranges $290 million financing for luxury mixed-use development in Manhattan’s Upper East Side


151 East 86th Street, Upper East Side, Manhattan, NY 
                                                                                               (Rendering by HOK Architects) 

David Nackoul

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $290 million in financing for the development of 151 East 86th Street, a luxury mixed-use residential and retail project in Manhattan’s Upper East Side neighborhood.

HFF worked on behalf of the developer, a joint venture between Ceruzzi Holdings LLC (Ceruzzi) and Kuafu Properties (Kuafu), to secure the construction loan with a foreign capital source. HFF previously sourced financing on Ceruzzi’s behalf for its acquisition of the site in 2014.

151 East 86th Street is situated at the corner of 86th Street and Lexington Avenue. The project will include a combination of luxury residential totaling 151,500 square feet and two stories of ground-floor retail totaling 30,600 rentable square feet.

 Complementing the retail base will be 61 luxury condominium units averaging 2,485 square feet with top-of-the-line finishes and floor-to-ceiling windows offering sweeping views of the Manhattan skyline and the East River. 

Resident amenities will include concierge service and 6,500 square feet of amenity space, including a state-of-the-art fitness facility, lounge, rooftop terrace and children’s playroom.  Due for completion in first quarter 2019, the 18-story building has been designed by world-famous HOK Architects with interiors by the renowned design firm Shelton, Mindel & Associates.

Christopher Peck
HFF’s debt placement team was led by senior managing director David Nackoul, managing director Christopher Peck and associate Scott Findlay.

“The Upper East Side is a unique and sought-after area where the opportunity to develop from the ground-up rarely presents itself, especially on a prime corner such as 86th and Lexington,” said Peck.  

“Ceruzzi and Kuafu managed to create and execute on a very complex structure, and it was a privilege to help them capitalize on this vision with a single source of debt capital.”


For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


HFF closes sale of Boulder, CO multi-housing community


Tantra Lake Community, Boulder, CO
Matthew Lawton

CHICAGO, IL  – Holliday Fenoglio Fowler, L.P. (HFF) announced  it has closed the sale of Tantra Lake, a 185-unit, garden-style multi-housing community in Boulder, Colorado.

HFF represented Waterton in the sale of the property to the Boulder Housing Authority.  The property was sold free and clear of debt.

Tantra Lake is situated on 10.9 acres at 1000 West Moorhead Circle, approximately three miles southeast of downtown Boulder and the University of Colorado Boulder campus. 

The property’s location provides easy access to U.S. 36 and all of Boulder’s employment, educational and recreational amenities.  Tantra Lake comprises a total of 301 units, of which 116 are individually owned as condominiums located in separate buildings.

 The 185 apartment units included in this transaction feature a variety of one-, two- and three-bedroom floor plans averaging 812 square feet each. 

Community amenities include a heated indoor swimming pool, hot tub, outdoor basketball and tennis courts, grilling areas, playground, 24-hour fitness facility, resident lounge, business center, manmade lake and sweeping views of the Rocky Mountains.

The HFF investment sales team representing Waterton was led by executive managing director Matthew Lawton along with managing director Jordan Robbins.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


HFF closes sale of 1 Gatehall Drive in Parsippany, NJ

                           
1 Gatehall Drive, Parsippany, NJ
 
Jose Cruz
FLORHAM PARK, NJ  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 1 Gatehall Drive, a 114,000-square-foot, four-story, Class A office building in Parsippany, New Jersey.

HFF represented the seller in the sale of the property to Lincoln Property Company.

1 Gatehall Drive is situated along Route 202, in close proximity to Route 10 and Interstates 287 and 80. Renovated in 2004, the Energy Star-rated building features a two-story lobby atrium with skylight, well-appointed common areas, shared conference room, dining area and a fitness center.

1 Gatehall Drive also shares a fountain courtyard with an adjacent office building and is next door to a Marriott Residence Inn.  Tenants at the 63-percent-leased property include software, consulting, communications, staffing and foodservice tenants.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and directors Stephen Simonelli and Michael Oliver.

“This sale further exemplifies the demand for well-located value-add office buildings in Northern New Jersey where the buyer can continue to improve the property,” Cruz said. 

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


.

HFF secures $124.5 million financing for three Class A office buildings in Northern New Jersey


51, 101 and 103 JFK Parkway,  Short Hills, NJ

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $124.5 million in financing for 51, 101 and 103 JFK Parkway in Short Hills, New Jersey.

Working on behalf of the borrower, Mack-Cali Realty Corporation, HFF placed the 10-year, fixed-rate loan through Citi and Goldman Sachs & Co.  Loan proceeds were used to acquire the properties, which were part of a larger six-property portfolio that HFF sold to Mack-Cali on behalf of RXR Realty.

Jon Mikula
The properties are located in Short Hills, along the high-growth Route 24 Corridor, which is close to the affluent residential communities of Millburn, Summit, Livingston, Chatham and Florham Park, plus The Mall at Short Hills; the downtown areas of Morristown, Madison and Summit and the retail offerings along Route 10. 

Built between 1981 and 1988, the properties are fully leased to major tenants, including KPMG, Merrill Lynch, Wells Fargo, Dun & Bradstreet and Investors Bank.

The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula. 

“We were excited to help Mack-Cali with its acquisition of the Short Hills assets, which are some of the premier Class A office buildings in the state,” stated Mikula.

“This acquisition signifies Mack-Cali’s substantially expanded presence in the affluent Short Hills submarket—positioning us as the owner of nearly all of the Class A office space, as well as some of the most premier assets in the Madison submarket,” said Michael J. DeMarco, Mack-Cali President. 

“This transaction exemplifies our strategy of owning only the best assets in strong markets that offer tenants state-of-the-art office spaces with a suite of first-class amenities.”

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


.

Saturday, April 8, 2017

HFF arranges $43.3 million financing for Denver, CO mixed-use development


Travis Anderson
CHARLOTTE, NC  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $43.3 million in financing for the development of LYND @ Park 17, a mixed-use residential and retail project in the Uptown neighborhood of Denver, Colorado.

HFF worked on behalf of the borrower, LYND, to secure the construction loan through a regional bank.

LYND @ Park 17 will be situated on a one-acre site at the corner of Park and 17th Avenues to the east of downtown in Denver’s City Park West area.  

The centrally located site is bordered by Colfax Avenue (U.S. 287) and the Colorado State Capitol to the south and Saint Joseph Hospital, Presbyterian-St. Luke’s Medical Center and City Park to the north.

 The eight-story, podium-style project is due for completion in 2019 and will comprise 190 Class A residential units with approximately 12,000 square feet of ground-floor retail. 

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and managing director Josh Simon.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
FF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


Construction of Amenity Facilities to Start Sooner Than Planned at LakePark at Tradition in St. Lucie County, FL


Rendering of model home at Minto Communities' LakePark at Tradition,
 St. Lucie County, FL

Port St. Lucie, FL – Minto Communities has some good news for residents and buyers at LakePark at Tradition, a new active adult community in St. Lucie County. The award-winning home builder announced that it will start building the LakePark amenity facilities a couple of months ahead of schedule. Construction is scheduled to start later this fall with a delivery date next summer. 

“Because of brisk home sales, we are now in a position to start building our resort-style amenities earlier than we had planned,” said Steve Svopa, vice president of Minto Communities. “In the meantime, our residents will continue to have access to similar recreation facilities at our nearby sister community, TownPark at Tradition.”

Rendering of Minto Communities'
model homes, LakePark at Tradition,
St. Lucie County, FL
Once completed, the LakePark facilities will be for the exclusive use of residents and their guests. Even when completed, residents will still have the option of enjoying the amenities at TownPark if they wish.   

The amenities at LakePark will feature a state-of-the-art fitness center, resort-style pool and spa, cabanas, screened lanai for social gatherings, outdoor seating area and grill, event lawn and residents-only dog park. Parks and nature trails surround both Minto communities at Tradition.   

LakePark at Tradition captures the charm of a small town while offering adults over 55 years of age an active and carefree vacation-inspired lifestyle.  To date, most of the community’s residents have come from South Florida, primarily St. Lucie and Palm Beach counties.

Pricing for Minto’s maintenance-free single-family and villa homes at LakePark range from the $190,000s to the mid-$200,000s. For a limited time, Minto is offering a $15,000 buyer incentive on select homes.

In addition, Minto is offering prospective buyers a Stay & Play Getaway to test drive the lifestyle.  Guests will be able to stay in a home for three days and two nights and enjoy existing amenities, and play golf at the PGA Golf Club, located just minutes away.

Minto is known for its award-winning communities and exceptional home designs. LakePark residences feature quality and energy-efficient construction, open interiors, spacious kitchens and designer baths.

There’s also a host of included premium features and architectural details that are included in the base price of each home. 

Steve Svopa
Minto offers a selection of five villa home designs ranging from 1,565 to 1,862 square feet under air, and four single-family floorplans that offer 1,895 to 2,220 square feet under air.

Four of Minto’s model homes at LakePark earned awards from the Treasure Coast Builders’ Association in 2016. 
  
LakePark at Tradition is located in the heart of Florida’s Treasure Coast. Shopping, dining and entertainment options are just a stroll or bike ride away at Tradition Square. The area offers quick access to I-95 and the Turnpike for easy drives to Orlando, St. Augustine and the Palm Beaches.

Late last year, a nationally recognized real estate consulting firm named Tradition among the top 50 master-planned communities in the United States.

For complete information on LakePark at Tradition or the Stay & Play offer, visit mintofla.com or call 877-801-1663.


For a complete copy of the company’s news release, please contact:

Kelsey Dean or Ashley Fierman, BoardroomPR
kdean@boardroompr.com/afierman@boardroompr.com
954-370-8999


Marcus & Millichap Brokers Sale of 78,630-SF Self Storage Facility in Palmdale, CA


Luke Elliott
PALMDALE, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Palmdale Self Storage, a 78,630-net rentable square foot self-storage facility in Palmdale, California, according to Ari Ravi, regional manager of the firm’s Tampa office.

Luke Elliott, vice president investments, Devin Beasley, investment associate and Michael A. Mele senior managing director investments of The Mele Group in Marcus & Millichap’s Tampa and Phoenix offices, had the exclusive listing to market the property on behalf of the seller, a private investor.

The buyer, a private investor, was also secured by Elliott, Beasley and Mele. They were assisted by Marcus & Millichap’s California Broker of Record, Kent Williams.

“We continue to see strong interest from private clients and Wall Street funded investors. This transaction was interesting as we are seeing significant interest from East Coast buyers looking to migrate capital from east to west. This is a core value proposition of Marcus & Millichap and our group is uniquely qualified to assist our clients with such opportunities,” Elliott comments.

Palmdale Self Storage is a well-maintained asset located at 3305 East Palmdale Boulevard. This institutional-quality facility is comprised of 268 climate controlled units and 358 non-climate controlled units, ranging from 25 square feet and 300 square feet, for a total of 626 units. Palmdale is a submarket in Los Angeles County, California.

“This is a quality asset acquired through a smooth transactional process and it will provide a nice addition to the buyer’s current portfolio,” says Beasley.
  
For a complete copy of the company’s news release, please contact:

 Ari Ravi
Regional Manager, Tampa

(813) 387-4700

History Repeating: JLL Q1 Report Shows Highest Phoenix Office Rents Since 2007


 
Dennis Desmond
PHOENIX, AZ – Even with more than 1.1 million square feet of new space delivered in the first quarter of the year, average asking rents for Phoenix office product has increased to the highest level in nine years, according to the Q1 2017 Phoenix Office Insight [add link] report released this week by the Phoenix office of JLL.

Reaching $24.91 per-square-foot, today’s Phoenix office rent average is just 7.1 percent lower than the pre-recession high of $26.82, set in Q4 2007.

Total vacancy remains relatively unchanged – and still under 20 percent – as new construction just slightly outpaces demand, and with more than half of all new space delivered in Q1 2017 representing preleased product, primarily at the Marina Heights/State Farm development in downtown Tempe.

“Since 1990, there have been three significant cycles that have dramatically impacted the Phoenix economy and its office rents, and each cycle contained a period of peak and trough rental rates,” said JLL Senior Managing Director Dennis Desmond. “This creates some level of predictability, and – as predicted – history is repeating itself.”

For a complete copy of the company’s news release, please contact:

 Stacey Hershauer
  Phone:
 +1 480 600 0195
  Email:


Friday, April 7, 2017

Arty Maharajh joins Avison Young as Research Manager for Los Angeles County


Arty Maharajh
Los Angeles, CA – Christopher Cooper, Avison Young Principal and Managing Director of the company’s Southern California region, announced today that highly regarded research specialist Arty Maharajh has joined the firm as Research Manager for Los Angeles County.

Maharajh brings 16 years of commercial real estate research experience to Avison Young.

 Based in the downtown Los Angeles office, he will maintain data and analytics and produce local quarterly market reports covering all service lines. 

Additionally, he will lead research projects on behalf of clients, providing insight on demographic, economic, labor force and real estate market trends. 

He most recently served at Cushman & Wakefield, where he headed the firm’s Los Angeles Metro Region research efforts.

“Arty is a very important addition to Avison Young’s Southern California team, as he offers a vast amount of experience in commercial real estate research and analytics,” comments Cooper. “We entered Southern California just under six years ago and have experienced rapid growth with six offices and more than 120 people today. Arty provides an additional layer of depth and expertise that will help us even better serve our existing clients and continue to attract new brokerage experts and clients over the next several years.”

 
Chris Cooper
Prior to joining Cushman & Wakefield, Maharajh worked in research capacities at CBRE, where he managed the firm’s Inland Empire research team; American Realty Advisors; and CoStar Group, where he oversaw a large team of analysts and field researchers for multiple markets, including Bethesda, MD, and San Diego offices.

“I joined Avison Young because it exudes a very entrepreneurial culture and has attracted professionals who share a collaborative approach to commercial real estate and client services,” says Majarajh. 

“I also appreciate the firm’s dedication to gathering and analyzing comprehensive data spanning all asset classes. I look forward to expanding Avison Young’s Los Angeles commercial real estate market report offerings and contributing to our company-wide reports while working in conjunction with my new colleagues in the U.S., Canada, Mexico and Europe. 

"Furthermore, I’m excited by the opportunity to provide clients with detailed analytics on Los Angeles so that they can make local, national and international real estate decisions that work best for their business.”

Maharajh holds a Bachelor of Arts degree in International Politics from George Mason University and interned at the U.S. State Department.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 79 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
  
For a complete copy of the company’s news release, please contact:


• Darcie Giacchetto, D.G. Communications Inc.: 949.278.6224

Wednesday, April 5, 2017

Stirling Development Marks Construction Milestone at Southern California Logistics Airport

  
Distribution Center 18 (DC 18), Victorville, CA


Mayor Gloria Garcia

VICTORVILLE, CA  – March 22 marked a significant construction milestone for Stirling Development as walls were set in place on Distribution Centre 18 (DC 18).

The entire Stirling Development team, City of Victorville and County of San Bernardino officials, 70 on-site construction workers, in addition to other guests took part in the event. Short speeches were given by Dougall Agan, CEO of Stirling Development; Victorville Mayor, Gloria Garcia; and San Bernardino County Supervisor, Robert Lovingood.

Anticipated for completion this summer, the under construction 370,023-square-foot industrial facility is located at Southern California Logistics Airport (SCLA), an 8,500-acre multimodal freight transportation hub which includes a 2,500-acre commercial and industrial complex entitled for 60 million square feet of development in Victorville. 

The facility is already 47 percent pre-leased to Plastipak Packaging, Inc., a world leader in the design and manufacture of high-quality, rigid plastic containers for the food, beverage, and consumer products industries. A lease for the remainder of the building is out for signature with an undisclosed tenant.

As a testament of tenant satisfaction and abundant growth opportunities in the High Desert, Plastipak currently occupies approximately 312,000-square feet within SCLA including two small warehouse locations and one 296,490-square-foot manufacturing facility. After their expansion to DC 18 in July, Plastipak will extend its leased occupancy to more than 486,000 SF at SCLA.

Dougall Agan
“Stirling is pleased to make one more advancement in reaching our vision of making the High Desert region a dominant hub for manufacturing and logistics on the West Coast,” said Agan. 

“The abundant opportunity for growth, adjacent logistics corridors, in-place infrastructure and pro-business initiatives from the City of Victorville and the County of San Bernardino are all factors that are feeding into the expansion of existing companies here, as well as new users choosing to make this region home.”

Agan added: “The High Desert has virtually no vacant Class A industrial space which is further validated by the preleasing of DC 18. SCLA can provide big box lease opportunities in the $.30-.32 triple-net range which is two-thirds the cost of facilities in the greater Inland Empire.” 

“When fully occupied, Distribution Centre 18 is anticipated to generate approximately 200 new jobs and an estimated total of 700 ancillary jobs within the region,” said, Supervisor Lovingood. “We support the City and Stirling in sharing a strong commitment to the growing the economy in the Victor Valley over the next decade.”

“Just eleven months ago, we celebrated the wall tilting on Distribution Center 13B at SCLA,” said Victorville Mayor Garcia. “Having construction start on another large-scale industrial facility so quickly really speaks to Victorville’s promise and SCLA’s emergence as the location for industrial development in the region.”

 For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224





Brookfield Residential Debuts New Distinctive Home Designs by KTGY Architecture + Planning at Kissing Tree, a Unique 55+ Community in San Marcos, TX


Model Home at Kissing Tree Development in San Marcos, TX

 
Manny Gonzalez
LOS ANGELES, CA —International award-winning firm KTGY Architecture + Planning is pleased to announce that KTGY’s new distinctive home designs targeting the needs of today’s discerning active adults were recently unveiled at Kissing Tree in San Marcos, Texas.

 Kissing Tree is the first baby boomer, master-planned community, for those 55 and better by Brookfield Residential Properties, and the first of its kind in San Marcos. 

The 3,200-home community is located on 1,332 acres in Central Texas, halfway between San Antonio and Austin in the heart of the Texas Hill Country.

According to Manny Gonzalez, FAIA, LEED AP, managing principal of KTGY’s Los Angeles office and head of the firm’s 55+ studio, “We designed the Colby, Emerson and Clarkson plans to appeal to a wide variety of 55+ consumer preferences. Homebuyers have lots of options at Kissing Tree -- not only on the inside of the home, but also what they want their home to look like on the outside.”

Edjuan Bailey
KTGY designed five very distinct architectural styles: Modern Farmhouse, Texas Hill Country, Contemporary, Santa Barbara and Traditional. 

Additionally, each architectural style offers exterior options. Gonzalez kiddingly said, “You won’t find the typical ‘salad dressing’ variety of architecture here (ie., French, Italian and Ranch)!”

The homes blend great looking exteriors with Universal Design and enhanced living spaces on the inside, notes Gonzalez. 

“Buyers can personalize their new home to fit their needs and lifestyle like adding an expanded cover patio, a den or study or a Casita for entertaining, as guest quarters, home office or hobby room.”

Gonzalez also points out that the laundry room has been moved from its traditional location at the entry point from the garage to a more useful location adjacent to the master suite closet or dressing area. This accomplishes two things: it creates an “owner’s entry” into the home with only one door to go through that can also feature a drop zone to lay down keys, mail and cell phone often with a recharging station.

“Since the home is generally occupied by only the 55+ owners, having the laundry room adjacent to the master suite allows for the opportunity to provide a “horizontal laundry chute” so that the owners don’t have to lug the only real laundry they generate through the house to the old laundry room location anymore.

Scott Turner
The Colby, Emerson and Clarkson homes offer spacious floor plans from 1,850 square feet to 2,957 square feet. Home prices will range from approximately $275,000 to $500,000.

“Kissing Tree offers what today’s active adults want in both a home and in a community: homes that incorporate Universal Design and indoor-outdoor living, and have so many choices that the homes feel nearly like a custom home; plus being located in a resort-style, walkable community with trails and activities so it is a ‘staycation’ every day,” Gonzalez exclaimed.

“Active adults are excited about the Kissing Tree community,” Edjuan Bailey, vice president of marketing at Brookfield Residential Texas, said. 

“So far, we have welcomed visitors from all over the country, including Maui, Boston, Los Angeles and many other cities across Texas. And, we are just getting started. Our golf course and many other amenities will open later this year.”

“We have enjoyed working with KTGY Architecture + Planning on Brookfield Residential’s first baby boomer-centric new home community,” Scott Turner, general manager of Kissing Tree, said.

“Together, we collaborated to deliver thoughtful designs specifically geared to the 55+ community, and we think our residents will genuinely feel at home. Our visitor numbers have been tremendous at Kissing Tree. Since the community opening, more than 300 prospects have signed up for the reservation program to select their lot and home site.”

KTGY is an international full-service Architectural Design and Planning firm. With nearly 400 people in 7 offices, working in 28 states and 12 countries.

For a complete copy of the company’s news release, please contact:

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
830.997.0963

KTGY An Architectural Design and Planning Firm
ktgy.com

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Hanley Investment Group Completes Sale of Two Multi-Tenant Pad Transactions in Kansas City Metro Area


Truman's Marketplace Power Center, 12410 South U.S. Highway 71 (Interstate 49),
Grandview, MO

 
Jeff Lefco
CORONA DEL MAR, CA – Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm completed the sale of two new construction multi-tenant pad buildings in separate transactions in the Kansas City metro area.

 The total purchase price for both properties was $5,430,000.

Hanley Investment Group Associate Jeff Lefko, along with Executive Vice President Bill Asher, negotiated the sale of a new construction 8,000-square-foot multi-tenant pad building at Truman's Marketplace, a regional power center anchored by Price Chopper, TJ Maxx, Ross Dress for Less, and Burlington Coat Factory in Grandview, Missouri.

Built in 2016 on 0.93 acres, the building is located at 12410 South US Highway 71 (Interstate 49). The three tenants occupying the 100-percent-occupied building are T-Mobile, McAlister's Deli and KC Speed Nails.


Bill Asher
The buyer, a private investor from Thousand Oaks, California, was represented by John Stafford of Colliers International. The seller, a private developer also from Kansas City, was represented by Lefko and Asher.

 The sale price was $3,400,000, representing the lowest cap rate and highest price per square foot in the region for a multi-tenant pad without a corporate tenant.            

“We were able to generate five all-cash offers and procured a California-based 1031 exchange buyer,” said Lefko. “We negotiated a 10-day due diligence period and quick close before all of the tenants were open for business.” 

Located 14 miles south of downtown Kansas City, the property is highly visible to over 82,000 cars per day along Highway 71 (I-49). More than 96,000 households and 240,000 people are in a five-mile radius of the property.

John Stafford
“There were many factors which were attractive to a prospective buyer,” said Asher. “This is a great freeway-visible location in a newly redeveloped regional power center with strong demographics and, consequently, the property sold for 10 percent higher than seller's proforma disposition price.”

In an off-market transaction, Lefko and Asher also negotiated the sale of a 6,360-square-foot newly-renovated multi-tenant pad building situated on .58 acres along a major retail corridor in Raytown, Missouri.

Built in 2015, the 100-percent-occupied building is located at 9105 East 350 Highway in Raytown, nine miles from downtown Kansas City. 

The property is occupied by three tenants: AT&T, Domino’s and Great Clips. Lefko and Asher represented the buyer, National Realty Group, Inc. based in Los Angeles.

 The seller, a private developer based in Kansas City, represented itself. The sale price was $2,030,000.

“We identified an off-market property for a 1031 exchange buyer with 15 days left to find a property. We were also able to procure a better-than-market financing through a local relationship bank,” said Lefko. 
  
For a complete copy of the company’s news release, please contact:

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
anne@MonaghanPR.com
830.997.0963