Seefried Delivers State-of-the-art Amazon Fulfillment Center in Stone Mountain, GA (South Gwinnett)

Ferdinand Seefried (left) and Georgia Gov. Brian Kemp

ATLANTA, GA -- Seefried Industrial Properties have recently delivered a brand-new, state-of-the-art distribution center for Amazon near Stone Mountain, Georgia. 

 Exhibiting record-breaking size and functionality, the 640,000-square-foot facility, whose code name was “Project Rocket,” stands over 70 feet tall and contains nearly 3.0 million square feet of fulfillment space.

Greg Herren

  Apart from its vast capacity, the building boasts 4 functional stories fitted with cutting-edge material handling and product retrieval systems which are extremely useful when serving the fast-growing e-commerce market. 

Equipped with advanced Amazon Robotics technology, the size and design of this project reflect Amazon’s evolving strategies for more efficient package delivery.   

At full operations, the project is expected to create 1,000 jobs.

Greg Herren, COO of Seefried, had this to say about the project:

“We are proud to deliver Amazon’s first Robotic fulfillment center in Gwinnett County and the state of Georgia.  The completion of this project is exceptional in every way and is yet another testament to Seefried’s ability to deliver the most complex distribution and fulfillment buildings leveraging strong relationships with vendors and contactors.”

The 640,000-square-foot facility, whose code name was “Project Rocket,” stands over 70 feet tall and contains nearly 3.0 million square feet of fulfillment space.

 Seefried has a strong history with the Seattle-based retailer, having built several other centers nationwide, including other Georgia facilities in Macon and near Augusta. 

The general contractor on the project was The Conlan Company; the civil engineer was Eberly & Associates and the architect was Macgregor Associates. 

 CONTACTS:

Barbara Bennett
Marketing Coordinator
Seefried Industrial Properties
3333 Riverwood Parkway · Suite 200
Atlanta, Georgia 30339
O: 770.702.8207 │ M: 520.661.9641
bbennett@seefriedproperties.com
www.seefriedproperties.com

Mr. Greg Herren, COO

678.904.1901

gregherren@seefriedproperties.com

Lincoln Property Co. Buys Second Utah Industrial Asset in Market Ramp-Up

Pacific Landing, a two-building, Class A multi-tenant industrial property in Salt Lake City's rapidly developing northwest submarket.

SALT LAKE CITY, UT – Just one week after entering the Utah industrial market, the Desert West Region of Lincoln Property Company (LPC) has added a second asset to its Salt Lake City portfolio with the purchase of Pacific Landing, a two-building, Class A multi-tenant industrial property in the city’s rapidly developing northwest submarket.

The purchase is part of a bullish regional expansion by the Desert West region that began in April with the company’s entrance into the Nevada industrial market, and continues today in Utah.

David Krumwiede

“Pacific Landing has an exceptional location, minutes from two major interstates, an international airport and the planned Utah Inland Port – a massive undertaking that has the potential to change the face of Utah’s industrial market,” said LPC Desert West Executive Vice President David Krumwiede.

“That combination will drive the future of this asset, helping it to capitalize on not only an industrial boom but also the evolution of Salt Lake City’s northwest quadrant.”

Pacific Landing sits at 4752 W. California Avenue in Salt Lake City. 

Developed in 2009, the property totals 133,885 square feet and features two rear-loaded buildings with minimum clear heights of 28’. 

It is 100 percent leased with a roster of international, national and regional tenants.

The project is located within two miles of Interstate 80, four miles from Interstate 215, approximately 7.5 miles from downtown Salt Lake City and approximately 3 miles from Salt Lake City International Airport.

John Orsak

It is also minutes from the planned Utah Inland Port, a 16,000-acre development that, according to the Utah Inland Port Authority, will help to support a market with an expected 104 percent increase in demand for cargo over the next 25 years.

“The northwest quadrant is set up to play a pivotal role in the city’s progression into a highly sophisticated distribution hub,” said LPC Desert West Vice President John Orsak. “Pacific Landing sits in the middle of that growth, supported by quality tenants and a strong labor pool.”

LPC Desert West will provide property management services for Pacific Landing – along with all of its new Nevada and Utah acquisitions – bringing its regional management portfolio up to almost 7.5 million square feet of premier office, industrial and retail space.

The company continues to actively evaluate new commercial real estate investment and development opportunities across the Desert West region, including Arizona, Nevada, Utah and New Mexico.

CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

David Krumwiede or John Orsak at 602.912.8888.

www.lpc.com or www.lpcdesertwest.com.

Lee & Associates Newport Beach Brokers $10 Million Sale of a 48,234-SF Free-standing Industrial Building in Fullerton, CA

Jim deRegt

  

FULLERTON, CA –  Lee & Associates, a nationwide leader in commercial real estate services, announces the sale of a 48,234-square-foot freestanding industrial building located at 1456 Manhattan Avenue in Fullerton, CA for $10,011,111, or $207.55 per square foot.  

Jim deRegt of Lee & Associates Newport Beach represented the Seller, Kanaasardas, LLC and Byron Foss of JLL represented the Buyer, Salher, LLC.

Byron Foss

The Buyer acquired the property to complete a 1031 tax-deferred exchange and expand its business’s manufacturing capacity. 

Contact: 

Jamie Penman
Lee & Associates
(949) 724-4736
jpenman@lee-associates.com

Lee & Associates Negotiates $4.9 Million Sale of Murrieta, CA Multi-Tenant Industrial Buildings

Two multi-tenant industrial buildings, totaling 39,976 SF  at 29980 Sky Canyon Drive and 29990 Technology Drive in Murrieta, CA. 

Matt Shaw

MURRIETA, CA –  Lee & Associates, a leader throughout North America in commercial real estate services, has closed a $4.9 Million sale transaction on two multi-tenant industrial buildings, totaling 39,976 SF, located at 29980 Sky Canyon Drive and 29990 Technology Drive in Murrieta, CA. 

Matt Shaw and Blake Valdez of the Lee & Associates Temecula Valley office represented the seller, Magnolia Industrial Park, LLC. 

The buyer, Dunbar Investments, LLC, was represented by Charley Black and Gordon Mize also of the Lee & Associates Temecula Valley office. 

 Blake Valdez

“This transaction represented a rare opportunity for Dunbar to acquire a quality, well-located industrial park in a desirable market”, said Black.

The Lee & Associates team of Shaw, Valdez, and Sam Robles were awarded the leasing assignment on this property in June 2020 when the property was at a 23% vacancy.

During escrow, the Leasing Team was able to stabilize the asset and bring the vacancy rate down to almost 6% by the close of escrow. 

Charley Black

ABOUT LEE & ASSOCIATES

Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services.

Established in 1979, Lee & Associates is now an international firm with offices throughout North America.

Our professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information.

Gordon Mize

For the latest news from Lee & Associates, visit lee-associates.com 
or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.

CONTACT:

Caroline Payan
Lee & Associates
(951) 276-3617
cpayan@lee-associates.com

KBS Names Gio Cordoves as Regional President of the Western Region; Youngest Executive to Hold This Position in the Company’s History

Giovanni (Gio) Cordoves

Newport Beach, CA, Sept. 15, 2020 – KBS, one of the largest investors in premier commercial real estate in the nation, has promoted Giovanni (Gio) Cordoves from senior vice president and co-director of asset management to Regional President of the Western United States.

At age 38, Cordoves is the youngest executive at the firm to hold the position of regional president since the company’s inception in 1992, according to Chuck Schreiber, CEO of KBS.  

“Promoting Gio to Regional President of the Western Region is a strategic move that aligns with our firm’s philosophy of developing a strong team of leaders that are well prepared to take on leadership roles at any age,” says Schreiber.

 “As a young executive, Gio relates well to the millennials who occupy our properties and is ideally prepared to serve our growing tenant roster. His promotion is the natural evolution of our firm’s operating strategy.”  

Charles (Chuck) Schreiber

In his new capacity, Cordoves will oversee asset management, leasing, acquisition and disposition activities on behalf of KBS REIT, pension fund, and sovereign wealth-fund clients within the Western Region.  

“Gio possesses a strong work ethic, quick decision-making ability, and keen intellect, which have enabled him to succeed in a demanding role at a relatively young age,” notes Schreiber.

“His calm and reassuring demeanor while leading his team and meeting challenges have earned him the widespread respect of his colleagues.

"In addition, his sharp real estate acumen, remarkable problem-solving ability, and unrelenting drive to keep KBS at the top of the CRE industry sets him apart.”  

  

CONTACT:

Micaela Fehrenbach

 mfehrenbach@brower-group.com

www.kbs.com.

Marcus & Millichap Aquires CBRE Multi-Housing Investment Team

Benjamin N. Skinner

Orlando, FL, Sept.15, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today that a veteran real estate team focused on multi-housing property investments has joined the firm in Orlando. 

They  are Benjamin Skinner and Matthew Prozzillo, former associates with CBRE.   

  

“Ben and Matt add significant advantages for our apartment clients in the region.  With this acquisition, we continue to build upon our strategic growth in central Florida,” said Justin West, vice president and regional manager of the firm’s Orlando office.

 “The depth of knowledge and experience with multi-housing real estate that Skinner and Prozzillo bring to our Orlando office is of tremendous value to investors throughout Central Florida.”  

Matthew W. Prozzillo

“We are excited for the opportunity to join an exclusive platform, such as the one that Marcus & Millichap offers. 

"With strong market conditions prevailing during these unprecedented times, Marcus & Millichap’s platform will allow for us to assist owners and investors in the most extensive, data-driven, advisory approach, ensuring optimal outcomes for all parties,” according to Skinner and Prozzillo. 

   

Skinner and Prozzillo 

exclusively represent buyers and sellers of student housing properties throughout the Southeast, multifamily properties throughout North/Central Florida, and investment properties throughout the Gulf Coast of Florida markets. They have worked on multifamily, student housing, historic, and institutional mixed-use real estate valued at over $4 billion. 

CONTACTS:

 Justin West

 Vice President/Regional Manager  

407-557-3800 

Daniella Aragon
Marketing Coordinator/Certified Agent Support Specialist
Marcus & Millichap 5201 Blue Lagoon Drive Suite 100 Miami, FL 33126 (786) 522-7122 direct (786) 522-7000 main (786) 454-0094 mobile (786) 522-7010 daniella.aragon@marcusmillichap.com

 

Asia Capital Real Estate refinances to continue Arbor Ridge renovations in Atlanta, GA

Jesse Wright

ATLANTA, GA – JLL Capital Markets announced it has arranged $17.2 million in refinancing for the Arbor Ridge multi-housing property located at 150 Chateau Terrace in Athens, Georgia

 JLL worked on behalf of the borrower, Asia Capital Real Estate (ACRE), to secure the 10-year, floating-rate loan through Freddie Mac.

The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. 

ACRE acquired the property in December 2018 and performed an extensive renovation, which successfully raised the profile of the asset.

Arbor Ridge consists of one-, two- and three-bedroom apartments, totaling 212 units. Community amenities include a pool, fitness center, business center, laundry facility, pet park and clubhouse. 

In-unit amenities include energy-efficient windows, French doors, over-sized closets and private balconies, with select units having stainless steel appliances and access to washer and dryer connection. 

 Ware Shipman

Arbor Ridge is located immediately off Route 78 in the West Athens submarket of Athens with proximity to all of the major largest employers in the city. 

Arbor Ridge is located several miles from the University of Georgia, a public university with an enrollment of over 38,000 students and over 10,700 employees. 

Founded in 1785, the University of Georgia is one of the oldest public universities in the United States. The Property is also under 2 miles away from St. Mary’s Health System, which is one of the largest private employers in Athens with 2,100 high paying jobs. 

Athens is known for its eclectic mix of Southern heritage, modern attractions and a vibrant arts scene.

University of Georgia, Athens, GA

 The JLL Capital Markets team representing the borrower was led by Directors Jesse Wright and Ware Shipman.

”This deal is a testament to the confluence of very shrewd investing by the borrower, and the historically attractive rates from the agencies today which lead to a sub 3.00% loan and cash back to the borrower,” says Wright. “We were thrilled to have the opportunity to assist them with this element of their business plan.”

Contact:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

 

JLL secures equity and debt financing on behalf of Turnbridge Equities for Bronx Logistics Center

Bronx Logistics Center, a 14.2-acre development site located at 980 East 149th Street in the Bronx, NY

NEW YORK, NY — JLL Capital Markets announced it has secured Dune Real Estate Partners as a joint venture equity partner and $105 million of predevelopment debt  financing on behalf of Turnbridge Equities for Bronx Logistics Center, a 14.2-acre development site located at 980 East 149th St. in the Bronx.

Kristin Knapp

 The development site is strategically positioned in the Hunts Point submarket with access to over 17 million people within a half-hour drive.

Christopher Peck

Representing Turnbridge Equities in the equity recapitalization were Senior Managing Director Andrew Scandalios; Senior Director Tyler Peck; and Vice President Thomas Pryor.

JLL’s Senior Managing Director Christopher Peck; Senior Director Peter Rotchford; and Vice President Kristin Knapp arranged the debt financing.

The proposed development Bronx Logistics Center will be a state-of-the-art, 1.2-million-square-foot, four-story last-mile distribution facility featuring 70 loading docks, 1,400 parking spaces and clear heights up to 28 feet.

Bronx Logistics Center is conveniently located close to I-278, which offers easy connection to I-87 and I-95, and is less than two miles from the Hunts Point Food Distribution Center, one of the largest wholesale distribution centers in the world.

Andrew Scandalios

“Same-day delivery is expected to increase from 2 percent to over 25 percent of e-commerce transactions by 2025, which has now accelerated due to the COVID-19 pandemic,” Scandalios said. 

 “This facility’s location, access to rail and market-leading property specifications position it as a best-in-class multi-story logistics facility poised to capitalize on the increasing need for rapid delivery times to consumers.”

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 advisory, debt placement, equity placement or a recapitalization.

Tyler Peck

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

Contact:

 George Shea, Mark Faris

Company: Shea Communications

Phone: +1 212 627 5766

Email: mfaris@sheacommunications.com

jll.com.