JLL represents Venice Family Clinic in 21,187 SF lease for warehousing and office space in Inglewood, CA

 

 Elizabeth Benson Forer

Bryan Lewitt 

LOS ANGELES, CA –JLL announced Venice Family Clinic, a nonprofit community health center providing comprehensive, high-quality primary health care to people in need, has signed a new lease for an entire 21,187-square-foot industrial/flex building located at 8933 S. La Cienega Boulevard in Inglewood, California. 

Venice Family Clinic, which is in the process of merging with South Bay Family Health Care, will use the space for warehousing of its medical supplies as well as additional administrative space.

“Having this new facility will help us dedicate our clinical spaces to providing vital health care and child development services to our patients,” said Elizabeth Benson Forer, chief executive officer and executive director of Venice Family Clinic.

Chris Isola

“The location of this property in Inglewood is ideal for efficiently managing the items we purchase and distribute to our existing 14 locations as well as the five locations we will add when we unite with South Bay Family Health Care later this year.”

JLL’s Bryan Lewitt and Chris Isola represented Venice Family Clinic in the lease.  The landlord, Blessing Investment, LLC, was represented by Mike Ouellette and Todd N. Taugner with The Klabin Company.

“We are seeing increased demand for commercial real estate space from medical users as the Los Angeles area healthcare providers consolidate and attempt to gain scale to provide services more efficiently,” said Lewitt. 

 Mike Ouellette

“We expect this growth to impact rental and vacancy rates across the region in the coming months.”

8933 S. La Cienega Boulevard is ideally located adjacent to the I-405 Freeway, providing convenient access to neighboring submarkets. 

It features 21-foot clear height, seven dock-high doors, fenced yard, 31 parking spaces and fluorescent lighting.

 

Contact: 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 jll.com.

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JLL Capital Markets closes sale of 1 Glenn Place in Fitchburg, WI to an affiliate of Banner Real Estate Group and arranges $28 million in acquisition financing

 

Amanda Friant

CHICAGO, IL, July 26, 2021 – JLL Capital Markets announced today that it has closed the sale of and arranged $28.275 million in acquisition financing for 1 Glenn Place, a 191-unit, multi-housing community in the suburban Madison community of Fitchburg, Wisconsin.

 Wick Kirby

 JLL marketed the property at 5351 Nobel Drive on behalf of the seller, Fiduciary Real Estate Development, which developed, constructed and managed 1 Glenn Place and held the asset for three years.

An affiliate of Banner Real Estate Group acquired the property. 

Matthew (Matt) Schoenfeldt

The JLL Capital Markets Investment Advisory team representing the seller included Senior Director Wick Kirby and Director Amanda Friant.

 The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Director Matthew Schoenfeldt.

1 Glenn Place, a 191-unit, multi-housing community
 at 5351 Nobel Drive  in the suburban
Madison community of Fitchburg, WI

 “Suited to Banner’s investment strategy, 1 Glenn is the epitome of long-term ‘forever real estate,’” Schoenfeldt said. “We were delighted that the lending market recognized this and responded with exceptionally strong financing terms.”

 Additionally, working on behalf of the new owner, JLL secured the seven-year, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. 

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

Contact: 

Cierra Lacasse

 JLL Associate, Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

Stan Johnson Co. Launches Affiliate Debt Services Company, Four Pillars Capital Markets, along with Strategic Hire, Farhan Kabani

 

 Farhan Kabani

TULSA, OK -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the launch of a new affiliate debt services company, Four Pillars Capital Markets.

 The new firm will provide debt and equity financing solutions for commercial real estate investment properties.

“As part of our strategic growth plan, we have identified an opportunity to provide better service to our existing clients, attract new clients and offer a diversified capital markets platform,” said Stan Johnson, President and CEO.

Stan Johnson

To help lead this new service line, the firm has also announced the hire of Farhan Kabani.

 Previously with Mark One Capital, an affiliate of Marcus & Millichap, Kabani has more than 15 years of commercial real estate finance experience and has secured over $5.0 billion in debt and equity capital for clients.

 Kabani joins Four Pillars Capital Markets as Partner and, with support from the Stan Johnson Company executive team, will lead the new real estate capital markets brokerage.

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

www.fpcm.com.

www.stanjohnsonco.com.

 

Pangea Cares Beautifies Chicago Neighborhoods on South and West Sides

 

Kelsey Lake

 CHICAGO, July 26, 2021 — Chicago-based Pangea Properties (Pangea) spent the month of June giving back to several of the Chicago neighborhoods in which they own and operate residential communities.

 

Through its community service arm, Pangea Cares (a 501c3 nonprofit organization), the firm organized three days of volunteering, completing outdoor projects on Chicago’s South and West Sides.

 

 “We were thrilled to work with a new partner, South Merrill Community Gardens, as it sits so close to many of our communities,” said Kelsey Lake, Pangea operations manager. “We look forward to working with them again in the future.”

 

Maggie Druffel

Maggie Druffel, Pangea Marketing Manager, was a part of the Pangea Cares event at Vernon Park Gardens previously, when they helped Eco House build the stage.

 

“It is exciting to partner with Chicago Eco House again and I love going back to Vernon Park Gardens to see how our volunteer work has helped keep the space running and looking great over the years.”

 

Volunteer sites included the South Merrill Community Gardens in the Jackson Park Highlands neighborhood; Vernon Park Gardens in West Woodlawn; and several Pangea-managed buildings.

 

CONTACTS:

Matt Baker

 mbaker@taylorjohnson.com

 (312) 267-4512

Gretchen Muller

 gmuller@taylorjohnson.com

 (312) 267-4511

NewMark Merrill Companies Promotes Greg Giacopuzzi to Director of Leasing & Development

Greg Giacopuzzi 

 

 Woodland Hills, CA – Newmark Merrill Companies, Inc., a Woodland Hills, California-based retail shopping center owner, is pleased to announce the recent promotion of Greg Giacopuzzi to Director of Leasing & Development.

  Based out of the company’s corporate headquarters in Woodland Hills, CA, Greg will be responsible for the leasing of existing shopping centers across the portfolio including new developments as well as the identification of development and acquisition opportunities in Ventura County, Los Angeles County, Orange County, and the Inland Empire. 

 Giacopuzzi started with NewMark Merrill over 10 years ago and was responsible for the leasing of Rialto Marketplace, a new, ground up development in Rialto, California, as well as the leasing for over 30 shopping centers across the portfolio.

 

 Rialto Marketplace, Rialto, CA

He has negotiated new leases with over 100 national companies including ALDI, Five Below, ULTA, Raising Cane’s, Petco, Taco Bell, Sprouts and Auto Zone and has executed over 700 career lease transactions, including 55 new leases signed since the beginning of the pandemic. 

 “Greg has been an incredibly talented and valued member of our NewMark Merrill family since the day he started,” commented Sandy Sigal, President and Chief Executive Officer of NewMark Merrill Companies.

  “I have had the pleasure to watch Greg learn and grow and thrive over the years and I am thrilled to see the person he has become, a true asset to our company as evidenced by the work he does for every property and merchant he assists.” 

 

Sanford D. (Sandy) Sigal

Before joining NewMark Merrill, Giacopuzzi received his Bachelor of Arts degree in Accounting and Business Administration from Point Loma Nazarene University.

  He is an active member of Innovating Commerce Serving Communities (ICSC) and the Southern California Chapter of the Association of Commercial Real Estate (ACRE). 

 NewMark Merrill Companies continues to hire for multiple positions currently open across the portfolio. If you are interested in learning more about joining our team, please visit NewMarkMerrill.com/careers. 

 

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

NewMarkMerrill.com

 

Ware Malcomb Expands in Canada with Third Office in Ottawa

 

Christina Kolkas

OTTAWA, ONTARIO, CANADA  – Ware Malcomb, an award-winning international design firm,  announced that the firm has opened a third office in Canada.

 The office, located in Ottawa, at 1420 Blair Towers Pl, Suite 104, Gloucester, Ontario K1J 9L8, will serve to support Ware Malcomb’s growing client and project base across Canada. 

Ware Malcomb first entered the Canadian market in 2007 through an acquisition. Principal Frank Di Roma has successfully led the growth and diversification of the firm’s business in Canada since 2010. 

 “We already have a strong presence in Toronto and Vaughan. This third office solidifies our Canadian presence and allows more accessibility to clients seeking our expertise,” said Di Roma. 

“It’s an exciting time for our region, and we look forward to the opportunities and dynamic projects ahead of us,” said Christina Kolkas, Director, Interior Architecture & Design. 

Frank Di Roma 

Specializing in architecture, planning, interior design, branding, civil engineering and building measurement services for commercial real estate and corporate clients, Ware Malcomb has completed over 1200 projects in Canada and currently has active projects in six provinces across the country.

Select recent work in Ottawa includes: two projects with Avenue 31, providing architectural design services for a multi-storey industrial facility and providing architecture, interior design and branding services for a 100-acre, six building industrial park; and a project with Broccolini providing architectural design services for a one million SF distribution centre.

 

CONTACTS:

Rachel Reenders

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

Ware Malcomb Ottawa

1420 Blair Towers Pl, Suite 104

Gloucester, Ontario K1J 9L8

P: 343.633.2977

 

 http://waremalcomb.com/news and

view Ware Malcomb’s                 

 Brand Video at youtube.com/waremalcomb. 

 

Arcadia Management Hires Mark Zimmerman to Launch and Lead Construction Management Division

 

Mark Zimmerman 

PHOENIX, AZ — Phoenix-based property management leader Arcadia Management Group (AMG) has launched a new Construction Management Division, hiring industry veteran Mark Zimmerman to lead the launch and the division during a time of surging post-pandemic demand.

 In his new role, Zimmerman serves as the National Director of Construction Management, overseeing a pipeline of $17 million in tenant and capital improvements for current Arcadia-managed properties.

 He will also pursue and direct projects outside of the Arcadia real estate portfolio – a market segment experiencing significant growth as COVID restrictions lift and companies return to the office.

 “There was no notable downturn in construction demand during the pandemic," said Zimmerman.

"In fact, demand among Arcadia clients grew as tenants recognized the need to incorporate new technology and embrace and deploy flexible, amenity-heavy work environments.

 “With this new division, we will be able to meet that demand and pursue new opportunities as an experienced team, within a very efficient, nimble and creative organization.”

 Based in Phoenix, Arcadia Management Group serves a portfolio of more than 50 million square feet of office, retail and industrial space across the United States.

Gary Shaw

 “Mark contributes a tremendous amount of industry experience and a true commitment to being responsive, creative and solutions-focused,” said Arcadia Management Group President Gary Shaw.

 

 “Companies across our network are seeking out this level of quality and skill as they negotiate our new business landscape. We are thrilled to have Mark on board to help us answer this demand.”

 

 In addition to tenant improvements, Arcadia’s Construction Management Division will also offer post-construction services including furniture, security, IT, utilities and related set-up and coordination associated with a tenant relocation.

 

CONTACT:

Stacey Hershauer

FocusAZ

480.600.0095

stacey@focusaz.com

www.arcadiamgmt.com.

Stos Partners Deepens its Investment in Southern California with 183,000-SF Industrial Acquisition in Los Angeles County

Industrial warehouse at 159 North San Antonio Avenue
Pomona, CA

 Pomona, CA – Stos Partners, a privately held commercial real estate investment firm, has expanded its Southern California portfolio with the acquisition of a 183,000 square-foot industrial warehouse in the Los Angeles County submarket of Pomona, California.

CJ Stos

The firm purchased the asset with an institutional partner for $22.275 million in an off-market transaction. 

This transaction is part of over $42 million of acquisition activity for the firm over the last few weeks, according to CJ Stos, Principal at Stos Partners.

“As one of the most active buyers of value-add industrial properties in the region, we have been able to draw upon close local broker relationships to source competitive investments,” says Stos.

Jason Richards

 “This latest acquisition is in a prime location within the Los Angeles market, situated between the Inland Empire and San Gabriel Valley, and offers immediate cash flow and long-term value creation opportunities.”

The property is 100 percent leased to a credit-backed manufacturing and distribution tenant, according to Jason Richards, Partner at Stos Partners.

“There is tremendous demand for well-located, highly functional industrial product in greater L.A. submarkets like Pomona based on limited supply and low vacancy,” explains Richards.

 “Utilizing our expertise in deferred maintenance and proven renovation and repositioning strategies, we will create value through substantial interior and exterior upgrades.”

 Jay Boyle

The asset will eventually undergo several capital improvements including interior spec suite replacements, mechanical upgrades, a new roof, fresh paint, parking lot resurfacing, and landscaping, in order to bring rents up to market rate, notes Jay Boyle, Executive Vice President at Stos Partners.

“Strong property-level attributes make this an ideal asset for current and future industrial uses,” explains Boyle. “We are well positioned with the expertise and capabilities necessary to identify opportunities and unlock its full value potential.”

Tanner Jansen

The acquisition is the most recent purchase of what has been a very active first half of 2021, notes Tanner Jansen, Vice President of Acquisitions at Stos Partners.

“We are very excited to build on this opportunity as we continue to expand into the Inland Empire,” noted Jansen. “Following two failed escrows by previous buyers, we saw value in the current improvements and were able to bring our unique experience with similar assets to confidently close on this transaction.”

The property is located at 159 North San Antonio Avenue in Pomona, California. Todd Launchbaugh of Lee & Associates represented both Stos Partners and the seller in the transaction.  

Contacts:

Katie Haga / Elisabeth Manville

Brower Group

(949) 438-6262

khaga@brower-group.com

 www.stospartners.com.

KBS Assists in the $100 Million Acquisition of One Town Center, a Class A Office Tower in Boca Raton, FL

One Town Center, a 191,294 square-foot
Class A office building at
One Town Center Road
in Boca Raton, FL
 

  BOCA RATON, FL – KBS, one of the largest investors in commercial real estate, announced the company assisted in the acquisition of One Town Center, a 191,294 square-foot Class A office building in Boca Raton, Florida.

Christian (Chris) Lee

The property, at One Town Center Road, was acquired from a joint venture between prominent commercial real estate firm CP Group, formerly Crocker Partners, and Siguler Guff & Co. for $99.5 million by Prime US REIT (PRIME), which trades on the Singapore Exchange Securities Trading Limits ticker as: OXMU.

 Jose Lobón

Chris Lee, vice chairman and Jose Lobón, executive vice president of CBRE brokered the sales transaction.

Bruce Fischer

 “KBS once again leveraged its deep understanding of the market and relevant fundamentals to purchase one of the most sought-after high-quality office towers in the South Florida market,” says Lee.

Tatyana Litovsky

Attorneys Bruce Fischer, Tatyana Litovsky, Chrisdo Fan and Howard Chu, and paralegal Amanda Kennedy,  of global law firm Greenberg Traurig, LLP’s Orange County office, attorney  Jody Saltzman in Greenberg Traurig’s New Jersey office, and attorney Steven Landy in Greenberg Traurig’s Miami office,  represented PRIME as legal counsel in the acquisition.

Chrisdo Fan 

 “We were very pleased to represent KBS in this significant strategic transaction on behalf of PRIME,” says Fischer, Greenberg Traurig’s Chair of the West Coast Real Estate Practice and Co-Managing Shareholder of the Orange County office, who led the Greenberg Traurig team and represented KBS.

Howard Chu

  “KBS worked with PRIME to acquire a top-quality, well-located asset in a growing submarket of one of the strongest regions in the country,” says Allen Aldridge, asset manager for One Town Center and senior vice president of KBS.

Amanda Kennedy

“This acquisition, which is within a five-minute stroll of 2.1 million square feet of dining and retail options, is in the best location in Midtown Boca Raton.

Jody Saltzman

"It gives us another opportunity to apply our hands-on management strategy to deliver best-in-class, well-amenitized office space and services that exceed tenants’ expectations.”

 

Steven Landy 

KBS serves as the U.S.-based asset manager for the portfolio, which included identifying and sourcing this asset on PRIME’s behalf.

Marc DeLuca

One Town Center is a Class A property consisting of a 10-story office building and an adjacent parking deck. CP Group has been retained as on-site property management.

Allen Aldridge

 “This is one of three acquisition for the portfolio since listing on the Singapore Exchange in 2019,” says Marc DeLuca, Eastern regional president for KBS.

“Acquiring One Town Center marks another strategic investment into a prime location and a premier asset. At 95% occupancy, One Town Center is one of the most desirable office properties in the Boca Raton market with strong in-place cash flow and a diverse base of creditworthy tenants.”

 

Thomas (Tom) Crocker

Built in 1991 by Thomas Crocker, One Town Center features one of the two tallest buildings in the market.

CONTACT:

Micaela Fehrenbach 

mfehrenbach@brower-group.com

www.kbs.com.