Horst Schulze Receives 2021 Historic Hotels of America Legacy of Innovation and Inspiration Award

 

Horst Schulze

Washington, DC –- Historic Hotels of America^® is pleased to announce that Horst Schulze has been named the Recipient of the 2021 Historic Hotels of America Legacy of Innovation and Inspiration Award.  

The Award will be presented to Schulze at the 2021 Historic Hotels Annual Conference at The American Club Resort Hotel in Kohler, WI on Nov. 10 in front of an audience of owners, general managers, and other senior decision makers representing many of the finest historic hotels from across the United States of America and from around the world. 

 Lawrence (Larry) Horwitz

“On behalf of the National Trust for Historic Preservation, Historic Hotels of America, and Historic Hotels Worldwide, we are pleased to recognize and honor Horst Schulze with the 2021 Historic Hotels of America Legacy of Innovation and Inspiration Award,” said Lawrence Horwitz, Executive Vice President, Historic Hotels of America and Historic Hotels Worldwide.   

This is the first time this annual award is being presented. 

 CONTACT:                             

Katherine Orr

Historic Hotels of America │ Historic Hotels Worldwide

Manager, Marketing Communications

Tel: +1 202 772 8333 

korr@historichotels.orgHistoricHotelsWorldwide.com

EverWest/Woodmont JV Acquires New Jersey Office Property for $42.7 Million; Plans Two-Building Class A Industrial Campus

Stephen Feinberg

SOMERSET, NJ ---Underscoring the demand for prime infill industrial sites, EverWest Real Estate Investors, in joint venture with Woodmont Properties, has purchased a 351,782-square-foot office building and adjacent land site in Somerset, New Jersey.

The partnership plans to vacate and demolish the existing improvements for the development of two state-of-the-art, Class A warehouse/distribution buildings totaling over 426,000 square feet.

Anthony Amadeo

The redevelopment site totals approximately 31 contiguous acres at 400 and 600 Atrium Drive. 

It includes an existing, 351,782-square-foot office building and adjacent 7-acre undeveloped parcel.

Upon demolition of the office building, EverWest and Woodmont plan to build two Class A warehouse/distribution facilities totaling 294,000 square feet and 132,000 square feet, respectively.

The buildings will be designed to accommodate a large single user or can be easily divided for multiple tenancy.

Elli Klapper

“Somerset is one of the fastest-growing industrial submarkets in the New Jersey market, with limited existing availability, modest new speculative construction and a growing list of major users and investors turning their interest toward the area,” said EverWest’s Director of Northeast Acquisitions, Stephen Feinberg.

“This project will make the most of those fundamentals, capitalizing on a location that provides immediate access to I-287 while leveraging the area’s excellent labor pool.”

Kevin Dudley 

According to CoStar, industrial rents in Somerset have skyrocketed from below $4 per-square-foot in 2013 to almost $12 per-square-foot today. Current submarket industrial vacancy sits at approximately 4 percent.

Feinberg directed the transaction on behalf of EverWest, in collaboration with Anthony Amadeo of Woodmont and with representation by Elli Klapper, Kevin Dudley and Mark Silverman of CBRE.

The acquisition marks the third transaction in New Jersey between EverWest and Woodmont within the last nine months.

Mark Silverman

“Like most states, New Jersey is experiencing an office vacancy problem, with many employees working from home,” said Klapper.

 “Working with local municipalities in the state who are rezoning their towns allows owners to transition these vacant office buildings to warehouses, which is indirectly helping both the office and industrial sectors.

 "As clients are reducing their office footprints, owners are able to take this product off the market and demolish the buildings for industrial investors. This trend just speaks to how strong the demand is for industrial product in the region."

Contact: 

 

Stacey Hershauer

480.600.0195

stacey@focusaz.com

 

www.woodmontproperties.com. 

 www.everwest.com or www.gwlra.com.

Lincoln and Harvard Close on 585 Acres for Seven Million SF Goodyear AirPark in Goodyear, AZ

 Goodyear AirPark, Goodyear, AZ

 

 GOODYEAR, AZ – In a joint venture partnership, LPC Desert West, the Southwest regional office of Lincoln Property Company (LPC), and Scottsdale-based Harvard Investments have purchased 585 acres in metro Phoenix’s West Valley submarket for a major new, Class A industrial development called Goodyear AirPark.

Greg Vogel

Situated next to the Phoenix-Goodyear Airport, it is one of the last large industrial-zoned land parcel remaining in the immensely popular Goodyear, Arizona industrial market.

It also sits immediately adjacent to a Dark Fiber line, making it highly attractive for data center development – a market sector in which Phoenix ranks as a U.S. leader.

LPC and Harvard will break ground on Goodyear AirPark Phase I in Q1 2022, to include more than 1.6 million square feet of space in six buildings ranging from 81,000 square feet to 775,000 square feet.

David Krumwiede

At completion, the park will have the capacity to deliver up to 7 million square feet of industrial space in as many as 20 buildings. 

It will also offer a retail component, providing approximately 10,000 square feet of in-line and retail pad opportunities.

Cerberus Capital Management is the equity partner for LPC and Harvard on the project. Greg Vogel of Land Advisors represented the land seller, Sun MP.

“Goodyear AirPark represents one of the all-time most well-located and amenitized, shovel-ready industrial sites in LPC’s Desert West portfolio, happening at a time when demand for modern industrial product has never been higher,” said Lincoln Property Company Senior Executive Vice President David Krumwiede.

 Craig Krumwiede

“It is also the fourth partnership with my brother, Craig Krumwiede, and Harvard Investments –a proven partner with whom LPC has delivered multiple landmark metro Phoenix developments.”

The Goodyear AirPark site is generally bounded by Estrella Parkway, Bullard Avenue and State Route MC 85, a high-volume east/west trucking route connecting Goodyear with Mexico.

“Goodyear has become a live-work magnet, attracting residents and companies from across the region and nation,” said Harvard Investments President and CEO Craig Krumwiede.

The architect for Goodyear AirPark is Butler Design Group. The general contractor is yet to be selected. LPC Desert West will direct all leasing and property management.

To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.

 Contact: 

 

Stacey Hershauer

480.600.0195

stacey@focusaz.com

 

http://www.harvardinvestments.com/

Stream Realty Partners Opens Northern Virginia Office to be led by commercial real estate veteran Anthony Chang

 Anthony Chang 

 NORTHERN VIRGINIA –  Stream Realty Partners (Stream), a national commercial real estate services, development, and investment company, is opening an office in Northern Virginia. Twenty-year real estate veteran Anthony Chang will lead the office, serving as Managing Director.

Executive Managing Director and Partner Kyle Luby in Stream’s D.C. office said, “I’m really excited to add this location to our platform and provide strategic oversight for Anthony to take this office to the next level, cementing and growing our footprint in Northern Virginia.

Kyle Luby

"We plan on actively recruiting and quickly building out service line support to offer our clients a full scope of resources.”

Chang comes to Stream from WashREIT where, among his accomplishments as Vice President, Asset Management, he co-founded its flexible office program Space+.

Prior to WashREIT, he was a leasing broker with Cassidy Turley where he added more than 2.5 square feet in agency listings in less than three years.

Throughout his career, Chang has executed or advised on over $800 million in lease transactions.

 Contact: 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

www.stanjohnsonco.com

www.streamrealty.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.”

 

Stan Johnson Co. arranges sale of Ward Stonebridge Square in Roswell, GA

Doug Clyburn

 ROSWELL, GA -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Ward Stonebridge Square located at 11255 Woodstock Road in Roswell, Georgia.

The 8,006-square-foot unanchored retail center was sold by Ward Stonebridge LLC, a Georgia-based private equity group. It was acquired by a private investor, also based in Georgia, for more than $1.5 million.

Doug Clyburn and Julie Clyburn of Stan Johnson Company represented both parties in the transaction.

“We sourced this off-market center for one of our clients looking for a well-located, value-add property,” said Doug Clyburn, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office.

“Due to an absentee-owner situation, the center was only 34 percent occupied at the time of sale but has excellent upside potential given the five-mile population of 161,032 and an average household income of $174,415 within three miles.”

Julie Clyburn 

Ward Stonebridge Square was built in 2004 and is situated on 0.99 acres with outstanding visibility and access to Woodstock Road and West Crossville Road.

The two current tenants, That Dirty Dog and American Hair Cuts, have been in place for more than 10 years, and the center features three vacant suites between 1,200 and 2,150 square feet each.

Area tenants include Starbucks, Home Depot, Kohl’s, Wells Fargo, McDonald’s, Zaxby’s and many others.

 

Contact: 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

www.stanjohnsonco.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.” 

Daum Commercial completes $3.45 million sale of fully-leased, two-building Arizona industrial portfolio

 

  

Skip Corley, Jr.

            PHOENIX, AZ – DAUM Commercial Real Estate Services recently completed the sale of a portfolio comprising two industrial properties in Arizona. 

Both buildings are fully leased to CenturyLink, one of the largest telecommunications companies in the United States, according to Skip Corley, Jr., an Executive Vice President at DAUM who represented the seller, EPL Federal, LLC, in the transaction. 

“We identified these properties as a strategic investment opportunity for our client four years ago,” explains Corley. 

“Based on today’s high industrial demand, they decided to sell the portfolio in order to pursue more aggressive cap rates, while bringing a strong cash-flowing offering to the market.”

Corley notes that since the properties are located in two different cities approximately 60 miles apart, he had to get potential buyers comfortable with each.

“Most investors immediately understood the long-term value of the building located within the highly in-demand Deer Valley industrial submarket of Phoenix,” says Corley. 

Bob Beardsley 

“That said, the Casa Grande market is considerably smaller. Ultimately, we were able to effectively communicate that this was a prime opportunity to own not one but two assets that are NNN-leased to a single investment grade tenant.”

Corley notes that both properties have been leased to CenturyLink for several decades. The assets include:

Todd Hamilton

·         An 8,100 square-foot building on 3.01 acres of land located at 21011 North 27^th Avenue in Phoenix, Arizona.

·         A 3,770 square-foot building on 3.64 acres of land located at 13333 West Selma Highway in Casa Grande, Arizona.

The buyer was represented in the transaction by Bob Beardsley and Todd Hamilton. The total consideration of the sale was $3.45 million.

Contacts: 

Arleeny Escarcega / Elisabeth Manville  
Brower Group  
(949) 438-6262 
aescarcega@brower-group.com 

www.daumcommercial.com.

Lincoln Property Co. Sells Park 303 Phase I in Glendale, AZ for Record-Breaking $186 Million; Highest single-building industrial sale price in Arizona history

SOLD: Park 303, Phase One ranked as
 highest single-building industrial sale price
 of $186 million in Arizona history

                                                                    GLENDALE, AZ--

 David (Dave) Krumwiede

Within one month of its completion, leading developer LPC Desert West has completed the sale of the 1.25 million-square-foot Park 303 Phase I in Glendale, Arizona to BentallGreenOak, a leading global real estate investment management advisor and real estate services provider. 

At $186 million, the transaction represents the highest single-building industrial sale price in Arizona history.

Phase I, which has been fully leased to a Fortune 1 retailer, is located on 71 acres fronting the Loop 303 freeway, between Bethany Home Road and Glendale Avenue. 

It is part of LPC’s larger Park303 master planned industrial park, spanning 210 acres and with the capacity to support nearly 4 million square feet of Class A industrial development.

LPC developed Phase I as a two-building speculative development, with the ability to rapidly combine a into a single, larger building as market demand required.

“Park303 was one of the first industrial developments in the state to quickly convert two stand-alone buildings into one larger facility to meet the needs of a major single user,” said LPC Desert West Senior Executive Vice President David Krumwiede. “

That flexibility – along with a premier location and high-tech, high-velocity e-commerce fulfillment capabilities – is what cemented our full-building lease. 

Ed Lampitt

"Our buyer recognized these advantages and moved quickly to secure the building and its significant long-term value.”

Ed Lampitt, Mike Haenel, Andy Markham and Phil Haenel of Cushman and Wakefield represented Park 303’s Phase I tenant. Will Strong of Cushman and Wakefield represented LPC on the investment sale. LPC will continue to provide the building’s property management services.

Mike Haenel

“This sale is a true joint effort between Cushman and Wakefield and LPC,” said LPC Desert West Vice President Will Strong  “Ed Lampitt and his team coordinated an extremely successful lease process for our Phase I building. 

"When the time came to list the property for sale, keeping that Cushman collaboration going and selecting Will Strong to represent us was a natural choice.”

Park 303 Phase I directly fronts the Loop 303 freeway, offering easy ingress and egress via two full-diamond freeway interchanges, and convenient access to a deep and skilled West Valley labor pool.

Andy Markham 

Building amenities include 40’ clear height and steel moment frame shear bracing that allows for highly modern, automated racking and picking equipment. 

Other amenities include 25,000 square feet of Class A office and training space, large breakrooms and upgraded, fully amenitized outdoor spaces with covered seating, a barbeque station and grass area for games and events.

Employees also benefit from efficient LED lighting and more than 140 large clerestory glass windows, which  provide access to sky views and shifting natural light, shown to increase productivity and mental focus.

Phil Haenel

The gated, supply-chain-centric site has full concrete truck courts, ample truck parking and private drives.

Park 303 Phase I was originally developed as a 705,531-square-foot Building A and 488,995-square-foot Building B. 

To accommodate a major global user, LPC quickly combined the buildings into a single facility.

The project sits within Glendale’s New Frontier District and is one mile from the Northern Parkway, a 12.5 mile, high-capacity roadway providing rapid connection between the Loop 303 and US 60/Grand Avenue. 

The connection offers expedited distribution routes and allows employees to avoid common rush hour traffic delays on Interstate 10.

Will Strong 

Corporate neighbors to Park303 include Boeing, Microsoft, White Claw, XPO Logistics, UPS, REI, SubZero, Daimler-Benz, Red Bull, Ball Corporation and Aldi, as well as hundreds of new residential homes.

To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.

John Orsak

CONTACT:

Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.com

Orlando, FL Office Leasing Activity Picks Up

Mary Frances West

 ORLANDO, FL – Mary Frances West, CCIM, Vice President at NAI Realvest, recently represented two office tenants in leasing space – a company relocation and a renewal.

 At the Citadel III, 5950 Hazeltine National Drive, Orlando, S2K Financial, LLC leased 2,324 SF in suite 305.  The company is based in New York City and is relocating their local office from Winter Park. 

The landlord, Citadel Partners, Ltd. was represented by Jeff Patterson with Equity, Inc.

Tiffany Zullo

In the Research Park area, NanoSpective, Inc. renewed their lease of 4,886 SF in University Tech Center, 12565 Research Parkway, Suite 390, Orlando. 

The company provides analytical services and consultation in materials science. 

The landlord, CIO University Tech, LLC was represented by Tiffany Zullo with Tower Realty Partners, Inc.

Jeff Patterson

CONTACTS:

 Yelena Gurtovenko 

ygurtovenko@realvest.com

Mary Frances West, CCIM

Vice President

NAI Realvest

 407-875-9989

 mfwest@realvest.com

Patrick Mahoney, President/CEO, NAI Realvest, 407-875-9989

 pmahoney@realvest.com