Grossman Company Properties Selects Mike Pedulla as New President; John Grossman Remains as CEO and Matt Crow will Join the Board of Directors

 

 Mike Pedulla

 PHOENIX, AZ — Grossman Company Properties has selected a new president to guide the company’s future growth.

 Mike Pedulla will become president of the pioneer real estate development company effective March 30, and will oversee operations of the company’s extensive real estate portfolio.

Acditionally, John Grossman will remain as CEO, and Matt Crow will join the company’s board of directors.

John Grossman 

 Pedulla has more than 20 years of experience in commercial real estate-related investment, development, asset management and finance.

 Since 2003, he has worked with DLJ Real Estate Capital Partners, an institutional real estate private equity investment and development firm based in New York. 

Pedulla has worked on a variety of projects across many markets and property types including hospitality, mixed-use, multifamily, office and land development. 

Matt Crow

 Most recently, Pedulla served as Managing Director and Co-President of Cityline Partners, a DLJ subsidiary, on a large scale mixed-use and land development investment in Northern Virginia. 

 “We are very pleased to welcome Mike to GCP and look forward to the impact he will have on our future,” Grossman said. “His expertise in development and planning will serve us well as we look to enhance and maximize our overall portfolio.”

Pedulla’s educational background includes a Master of Business Administration in Real Estate and Finance from the Wharton School, University of Pennsylvania and a Bachelor of Science from Cornell University, School of Hotel Administration. 

                                          Sam Grossman

 “I look forward to becoming part of Grossman Company Properties and continuing the company’s legacy of quality development and hospitality operations,” Pedulla said.

“The company has a reputation for being a leading force in the real estate and hospitality industries and its properties have an extremely bright future moving forward.”

 Grossman Company Properties currently owns and operates extensive real estate holdings.

The company was started by Sam Grossman in the early 1960s and has been involved in many of the Valley’s signature developments.

 For more information, visit grossmancompany.com.

 

CONTACT:

Tom Evans 

 Partner

 Public Relations & Event Strategies

Cel: 602-448-5483 | Direct: 480-482-7360 | Main Office: 480-705-6623

101 North 1st Avenue, Suite 2000  |  Phoenix, AZ 85003

ONAdvertising.com

 

Chatham Lodging Announces Sale of Its Innkeepers Joint Venture Interest

 

 Jeffrey H. Fisher

WEST PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, announced the sale of its 10.3 percent interest in the Innkeepers joint venture with Colony Capital for $2.8 million.

 “This sale culminates a very successful joint venture investment for Chatham since we partnered with Cerberus to buy the Innkeepers portfolio out of bankruptcy in 2011,” highlighted Jeffrey H. Fisher, Chatham’s president and chief executive officer.

  “Originally investing $37 million for our interest, this has proven to be a very profitable investment for Chatham and our shareholders.

 "Alongside Cerberus, our investment returned profit of approximately $80 million by the time Cerberus sold its interest to Northstar Realty Finance (which ultimately merged with Colony) in 2014.

 "Since then, we received distributions of $22.2 million, bringing total returns to over $100 million.”

  CONTACTS:

Chris Daly                                                            

Daly Gray Public Relations                                   

 (Media)                                                                

chris@dalygray.com  

(703) 435-6293                                                    

 

Dennis Craven

Chatham Lodging Trust

(cumpany)

 dcraven@cl-trust.com

(561) 227-1386  

chathamlodgingtrust.com.  

    

$32.15 million sale completed for Courtyard at Cedar Hills near Portland, OR

 Carrie Kahn

PORTLAND, OR – JLL Capital Markets announced it closed the $32.15 million sale of Courtyard at Cedar Hills, a 145-unit value-add multi-housing community located in Beaverton, Oregon, a prime suburban growth market just seven miles from Portland.

 JLL marketed the property exclusively on behalf of the seller, Virtu Investments. The property was purchased by Hamilton Zanze.

 Courtyard at Cedar Hills comprises 14 garden-style residential buildings with a mix of one-, two-  and three-bedroom units averaging 900 square feet. Community amenities include an indoor pool, fitness center, laundry facilities and package locker room.

 Ira Virden

The community underwent a $2 million renovation in 2016 that included updates to common areas and select unit interiors, leaving an opportunity for new ownership to complete renovations and capitalize on the submarket’s substantial rent growth.

 Located at 13643 S.W. Electric St., the transit-orientated community is within two blocks of the MAX Light Rail station, allowing connectivity across the Portland MSA.

The apartments are also located near 8.7 million square feet of retail and recreational amenities and offer immediate access to several of Oregon’s largest economic drivers including Downtown Portland and two of the largest athletic apparel and technology firms globally. 

 The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.

 “Courtyard at Cedar Hills is an exceptional transit-oriented, value-add opportunity in a submarket with high barriers to entry,” Virden noted.

 “Beaverton has a remarkable growth story thanks to expanding employers including several technology and manufacturing companies planting flags nearby.

Frank Solorzano

"Located steps from Downtown Beaverton and walking distance to the MAX, the property has benefitted from significant public and private reinvestment that has transformed the surrounding community into a highly walkable neighborhood with several exciting restaurants and other businesses.”

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 advisory, debt placement, equity placement or a recapitalization.

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:

Natalie Passarelli

 JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

www.hamiltonzanze.com.

jll.com

 

Regency Centers Announces New Roles and Responsibilities

 Lisa Palmer

 

JACKSONVILLE, FL, (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) announced recent organizational changes and promotions.

Scott Prigge has been promoted to Managing Director, Property Operations. Scott’s tenure with Regency began in March of 1997 as a Project Manager. He then progressed to Vice President of Eastern Operations in 2001.

Scott Prigge

In 2008, he became Senior Vice President of National Operations where he was responsible for 50-million square feet of property and over 90 team members. 

He also currently oversees Regency’s sustainability, marketing, and environmental departments.

Barry Argalas is now Senior Vice President, National Transactions and Investment Strategy. Barry joined Regency in 1996 as an analyst. 

In 2003, he became Vice President of Transactions, and four years later was promoted to Senior Vice President of National Transactions.

Barry Argalas 

He has been overseeing all acquisition and disposition activity for Regency and played a key role in strategic M&A activity. Barry will now also play a more critical role in directing Regency’s capital allocation strategy.

“We are proud to recognize the contributions of Scott and Barry, who have been critical to the success of our company," said Lisa Palmer, President and Chief Executive Officer.

 "The responsibilities of these positions are reflective of their abilities, successes, and dedication shown throughout their careers.”

 CONTACT:

RegencyCenters.com.

Eric Davidson
904 598 7829
EricDavidson@RegencyCenters.com

 

Ware Malcomb's Arturo Ponciano Promoted to Studio Manager in Princeton, NJ Office

 

 Arturo Ponciano

PRINCETON, NJ– Ware Malcomb, an award-winning international design firm, announced Arturo Ponciano has been promoted to Studio Manager, Interior Architecture & Design in the Princeton office.

 In this new role, he helps lead and manage the office’s Interior Architecture & Design studio and manages select projects.

 Ponciano joined Ware Malcomb as Senior Project Manager in 2017 specializing in repositioning and corporate fit out projects.

 

Marlyn Zucosky

“Arturo’s extensive interior design expertise coupled with his calm demeanor make him a valuable mentor and strong leader,” said Marlyn Zucosky, Director, Interior Architecture & Design of Ware Malcomb’s Princeton and Newark offices. \

“Arturo’s dedication to our team and clients is apparent in everything he does, and we look forward to his continued growth in years to come.” 

 Ponciano holds a Bachelor of Architecture degree from the University of Miami.

  

CONTACTS:

Rachel Devany

VP Public Relations

KCOMM for Ware Malcomb

Rachel@kcomm.com 

 Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

 Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

Fast-Growing Proper Title Targets National Expansion With New CEO, Judd D. Hoffman

Judd D. Hoffman 

 CHICAGO, IL— Proper Title, LLC, one of Illinois’ largest title insurance agencies, announced Judd D. Hoffman has been hired as chief executive officer.

 Hoffman has been a driving force behind growth, tech innovation and culture-building throughout a 10-year career at two of the nation’s largest title companies.

 

 Now, he will take on a similar role at Proper Title, a company that is looking to scale nationally by applying the systems and service model that made it a market leader in the Chicago area in less than a decade.

 

Mike Golden

“If you are looking to grow a title firm profitably, efficiently, and with an incredible culture that benefits your clients, employees and strategic partners, Judd is, hands down, the leader you want,"  said Mike Golden, partner and co-founder of Proper Title and co-founder and co-CEO of @properties.

 

"We have built a great foundation in Illinois, and now with Judd at the helm, we’re excited to introduce Proper Title to a national audience.” 

 

Most recently, Hoffman served as chief transformation officer for States Title and president of its affiliate, North American Title Company.

 

Proper Title is the No. 1 issuing agent in Illinois for Fidelity National Finance (FNF) and has earned the FNF Excellence in Action award for six consecutive years. It was also named a Crain’s Chicago Business “Best Places to Work” in 2019 and 2020.

 

“Judd has a proven track record of global business development of both startups and larger enterprises, and he has a phenomenal reputation in the title industry,” added Thad Wong, partner and co-founder of Proper Title and co-founder and co-CEO of @properties.

 

 Thad Wong

“Under his leadership and through his limitless connections, Proper Title is poised to grow quickly.”

 

 Established in 2000, @properties ranks 10th on the REALTrends 500 list of the largest residential brokerage firms in the U.S. by sales volume.

 

CONTACTS:

 

 Paula Widholm,

 pwidholm@taylorjohnson.com

(312) 267-4525

Kim Manning, 

kmanning@taylorjohnson.com 

(312) 267-4527

 

propertitle.com.

www.atproperites.com.

 

 

Single-tenant industrial building in Silicon Valley sells for $14.5 million

 

                                                    Ada  Wong

SAN FRANCISCO, CA – JLL Capital Markets announced it has closed the $14.5 million sale of and arranged $8.9 million in acquisition financing for a 42,816-square-foot, single-tenant, triple-net-leased industrial building in the San Francisco Bay Area community of Fremont, California.

Mark Detmer

JLL marketed the property on behalf of the seller, BKM Capital Partners. The Koll Company acquired the asset in an off-market transaction, which represents their fourth industrial acquisition in the last quarter. 

Additionally, working on behalf of the new owner, JLL placed the eight-year, fixed-rate loan with Sentinel Investments.

 The building is situated on 2.63 acres at 48400 Fremont Blvd. in Fremont, the Bay Area’s premier Industrial submarket. 

JLL Research’s Silicon Valley Industrial Insight - Q4 2020 report details that the Fremont Industrial submarket had little to no new deliveries in 2020 and only 666,146 square feet under construction. 

Ryan Sitov

Adjacent to Interstates 880 and 680, this infill location is proximate to Silicon Valley’s Fremont Innovation District, an 879-acre hub of advanced manufacturing and clean technology centered around the new Warm Springs/South Fremont BART station.

Additionally, the property is surrounded by high-profile corporate and technology neighbors.

 Completed in 1996 with concrete tilt-up construction, 48400 Fremont Blvd. houses creative office and warehouse/manufacturing space.

The building features high-quality interiors, a 21-foot clear height, three dock doors, two grade-level doors and ample parking.

 Andie Fezell

Cintas Corporation (NASDAQ: CTAS), a Fortune 500 company with a credit rating, occupies the building on a long-term, triple-net-leased basis for its Fire Protection and First Aid & Safety service lines.

David Sesi

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Director and Co-Head of JLL’s Industrial Capital Markets group Mark Detmer, Senior Director Ryan Sitov and Associate Andie Fezell, along with local market support from Vice President David Sesi and Associate Ada Wong.

The JLL Capital Markets Debt Placement team representing the borrower included Managing Directors Brian Torp and Jordan Angel and Associate Taylor Gimian.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Brian Torp 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.

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.

 Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.                                         

 About BKM Capital Partners

Brian Malliet

BKM Capital Partners was founded in 2013 by Brian Malliet. Headquartered in Newport Beach, California, BKM Capital Partners is a real estate fund manager specializing in the acquisition and improvement of value-add light industrial multi-tenant properties in metro areas across the Western U.S. 

Combining a deep knowledge of this niche industrial product type with a vertically-integrated operator platform that includes in-house capabilities to reposition and convert existing assets, enhance property management, incorporate leasing management and institutionalize light industrial properties characterized by fragmented ownership positions.

Jordan Angel 

 The firm continues to build on its proven track record, generating strong results with high levels of transparency and engagement for investors.

About The Koll Company

The Koll Company is a well-capitalized full-service real estate operating company headquartered in Irvine, California. 

Koll's track record includes the development and acquisition of over 150 million square feet of office, industrial, retail, resort, and golf course properties over the past six decades.

Taylor Gimian

 About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. 

 CONTACT:

Kimberly Steele

Senior Associate

 Public Relations

JLL Capital Markets

9 Greenway Plaza, Suite 700

Houston, TX  77046

T +1 713 852 3420

M +1 832 244 9994

Kimberly.Steele@am.jll.com

 us.jll.com/capitalmarkets

bkmcapitalpartners.com.

jll.com.

 

Daum Commercial Negotiates 82,000-SF Lease of Santa Monica, CA Industrial and Office Building to Electric Vehicle Company

DONE DEAL: 82,000-sf industrial warehouse
and office property leased to an electric
 vehicle company on a 121,200-SF lot
in Los Angeles County submarket
of Santa Monica, CA

 SANTA MONICA, CA – DAUM Commercial Real Estate Services has successfully negotiated the lease of an 82,000 square-foot industrial warehouse and office property on a 121,200 square-foot lot in the Los Angeles County submarket of Santa Monica, California, to an electric vehicle company.

The total consideration of the lease is approximately $12 million, according to Michael Collins, Vice Chairman at DAUM Commercial, who represented the lessor alongside DAUM Executive Vice President David Freitag.

 Michael Collins

“Our Client, a private owner with whom DAUM has a long-standing relationship, had a rare commercial property available for lease in the tight Santa Monica submarket,” explains Collins.

“The building is situated on a corner adjacent to heavily trafficked Interstate 10. By strategically marketing the property and leveraging its prime location, we were able to attract significant interest and several offers, ultimately securing a long-term lease to a top automotive business.”

Collins notes that the lessor also owns a neighboring 50,000 square-foot property, which is currently fully leased to Mercedes-Benz, driving up the appeal of the newly leased asset and presenting future expansion opportunities. Additional high-profile neighbors include Lexus, Amazon, HBO, and Universal Music.

David Freitag

Freitag adds: “This lease transaction was a true win-win for both parties. The lessee will be situated in a highly visible location near several prominent creative, entertainment, distribution, and service companies, as well as retail amenities, while our Client benefits from a quality, established tenant.”

The property, which is also in close proximity to the Santa Monica Airport, Los Angeles International Airport, and 17^th Street/SMC light rail station, features 18’ clear height, 2,000 amps of power, warehouse restrooms, and a wrought-iron fenced yard.

The asset is located at 1100 Colorado Avenue in Santa Monica, California.

www.daumcommercial.com. 

CONTACTS:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

http://www.raamconstruction.com/