Monday, September 12, 2022

Levin Johnston completes $11.5 million sale for multifamily portfolio in San Mateo, CA

Apartment community at 1504 S Claremont,
 which features eight-units and is
 located in San Mateo, CA
 

San Mateo, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S., specializing in wealth management through commercial real estate investments, has successfully completed the following transactions:

 An 8-unit multifamily community in San Mateo for $2.8 million, a 10-unit multifamily community in Burlingame for $5.6 million, and a second Burlingame community with 5-units for $3.1 million.

Levin Johnston represented both the buyer and the seller in the transactions. 

Robert Johnston
According to Levin Johnston’s Senior Managing Director, Robert Johnston, the three communities are situated in thriving San Mateo County, strategically located equidistant between San Francisco and San Jose, offering proximity to major employers, transportation corridors, shopping, dining, and entertainment options.

“San Mateo’s impressive market fundamentals are largely driven by the region’s strong employers, which are continuously rebounding from the effects of the pandemic and exhibiting impressive signs of job growth recovery,” explains Johnston.

 “In fact, the low unemployment rate in San Mateo County of 2.2% demonstrates the abundance of job opportunities and stable growth of the labor force, making San Mateo County’s local economy one that continues to attract renters and investors to the area.”

Adam Levin

According to Levin Johnston’s Executive Managing Director Adam Levin, the sale and quality of this portfolio speaks to the firm’s increased deal volume of recent months.

 “The Levin Johnston team successfully closed 60 transactions valued at $466 million by end of Q2,” says Levin.

“Our transaction volume during the first half of this year consisted of transactions across a variety of asset types and submarkets, demonstrating our expertise in successfully closing deals that meet the diverse needs of investors, as well as our ability to be nimble and adaptable during unprecedented times, allowing us to consistently bring deals to the finish line.”

Properties in the portfolio include:

1504 S Claremont Avenue, San Mateo

1101 Laguna Avenue, Burlingame

 CONTACTS:

Anthea Davis / Tess Hezlep

The Smart Agency, Inc.

(949) 438-6262

andavis@thesmartagency.com

www.levinjohnston.com. 

 

Sunday, September 11, 2022

Hold-Thyssen Negotiates Multi Year Office Lease for Pinellas County Foundation in Clearwater, FL

 

 Carol L. Kinnard
 

 CLEARWATER, FL --- Carol L. Kinnard, transaction specialist at Hold-ThyssenLLC., a commercial real estate services firm in Clearwater, recently completed a multi-year lease agreement for Suite 150 at Bayside Center I, 17755 US Highway 19 North in Clearwater.

  Kinnard said Pinellas CF Company LLC d/b/a Pinellas Community Foundation is a long-time client and a long-term tenant at the location, which she initially located for the organization several years ago.   

Duggan Cooley
 PCF’s Duggan Cooley, CEO contacted Hold-Thyssen to get Kinnard’s advice and updated market information that enabled him to make the right decision to stay at PCF’s 2,586 square foot suite in Bayside Center. 

 The landlord of the Class A office building is BVIP Bayside Center, LLC, represented by Cushman & Wakefield.   

Bayside Center I, 17755 US Highway 19 North
 in Clearwater, FL

 For over 50 years, PCF has offered support, resources and information to address the needs of the people and nonprofit organizations of Pinellas County.  They help donors who want to support community issues and provide development of charitable giving plan.

 Hold-Thyssen, LLC provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year-old firm’s current portfolio includes more than 100 commercial properties throughout the United States.


 CONTACTS:

 Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, LLC, 

813-880-7100 ext303 rfisher@HoldThyssen.com

 Beth Payan, Larry Vershel Communications Inc 

407-461-3781 beth@larryvershel.com 

 

Saturday, September 10, 2022

KAI Design Hires William Ritter, AIA, as Senior Project Architect

 

William Ritter
 

 St. Louis, MO -- KAI Design is excited to announce the hiring of William Ritter, AIA, as Senior Project Architect at its St. Louis headquarters.

Ritter has nearly 40 years of design expertise.

“KAI is elated to have William (Bill) Ritter join our Design team in St. Louis," said KAI Managing Partner Brad Simmons, FAIA.

 

 "Bill is a seasoned architect that truly has done it all over his extensive career. His wide range of project types, national and international practice experience coupled with his ability to get into the details while keeping his eye on the horizon for the design endgame is invaluable.” said Simmons.

 

Brad Simmons

 “Bill is a proven technical expert who truly knows how to put a building together the right way – while mentoring young practitioners.”

 

 Ritter has a Bachelor of Architecture from the University of Illinois at Chicago and is a member of the American Institute of Architects, Missouri Council of Architects, U.S. Green Building Council - Missouri Gateway Chapter, and Project Management Institute.

CONTACT:

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

 

Cuningham Appoints Nathan Harris as Chief Financial Officer

 

 Nathan Harris 


Phoenix, AZ – Cuningham, a national design firm, is pleased to announce the appointment of Nathan Harris as the firm’sChief Financial Officer (CFO).

 Harris will oversee the planning and direction of Cuningham’s fiscal functions and performance as well as provide strategic leadership around the firm’s financial affairs.

 

Jacqueline Dompe

“We are thrilled to have Nathan join the Cuningham team,” says Cuningham CEO Jacqueline Dompe, who came on board this summer.

 “He has a proven track record of delivering results and providing value. His financial expertise and leadership qualities align with our values and he’ll be an invaluable addition to the team.”

  A seasoned financial professional within the architecture/engineering/construction industry, Harris joins Cuningham from HDR where, since 2015, he served as Vice President & Regional Accounting Director for the company’s Southwest Region.

CONTACT:


 Katie Haga

The Smart Agency, Inc.

949.438.6262

khaga@thesmartagency.com

 

Twenty Four Seven Hotels Appoints Dennis Eichen Vice-President of Finance and Accounting

 

Dennis Eichen 

 

 NEWPORT BEACH, CA —Twenty Four Seven Hotels, a third-party hospitality management company for premium-branded, select-service and lifestyle hotel segments in the western U.S., announced Dennis Eichen has been appointed vice-president of finance and accounting. 

In his new position, Eichen will oversee the company’s financial and accounting teams, financial systems and banking relationships/financing opportunities while providing asset management expertise and strategic direction with the executive team to ensure short- and long-term profitability. 

David Wani,

“Dennis’ vast experience and background position him as a leader who can make an immediate impact on the financial performance of our hotel portfolio,” said David Wani, CEO, Twenty Four Seven Hotels. 

 “His aggressive approach to utilizing industry leading systems, software and tools for more efficient and effective processing of information will elevate our hotel’s performance."

Twenty Four Seven Hotels relies on comprehensive solutions to continue to drive the digital transformation of its hotel’s financial management in an effort to provide advanced insights, implement at scale and maximize profitability.

Drew Hardy

 A Hospitality Finance Technology Professional (HFTP) member, Eichen received his Bachelor of Science in accounting from California Polytechnic University of Pomona.

“Dennis’ combination of corporate- and property level hospitality finance experience provide the ideal background for this position,” said Drew Hardy, president, Twenty Four Seven Hotels. 

“As we continue to expand our portfolio, it becomes increasingly important to build an executive team to facilitate that growth. 

"Dennis’ hands-on approach to developing a cooperative, interactive environment will increase retention while also creating opportunities for growth and development within the finance team.” 

CONTACT:

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.247hotels.com.

 

JLL Capital Markets arranges $20 million acquisition financing for a 500-space parking garage located at 14-40 Beach Street. in Boston, MA

Amy Lousararian
 

 BOSTON, MA JLL Capital Markets has arranged the $19.6 million acquisition financing of 14-40 Beach St., a 500-space, 149,000-square-foot parking garage in Boston, Massachusetts.

 JLL worked on behalf of the borrower, Neighborhood Property Group, to secure the five-year, fixed-rate loan through HarborOne Bank.

 Located along Beach Street, the garage is positioned between Harrison Ave. and Washington St. in Boston’s Chinatown neighborhood and nestled between the Financial and Theater Districts.

Greg LaBine 

The location is only a few blocks north of the I-93 interchange with I-90 providing excellent vehicular connectivity to the North and South Shore, Logan Airport and Boston’s affluent western suburbs.

Additionally, the property includes 4,338 square feet of 100-percent-leased, ground-floor retail space.

 The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Greg LaBine and Director Amy Lousararian.

14-40 Beach St., a 500-space,
149,000-square-foot parking
garage in Boston, MA

 “While today it is a core cash-flowing garage, it will be exciting to see how the NPG team adapts the asset for additional revenue opportunities and the future of mobility,” said LaBine. 

“Harbor One was supportive of the business plan and executed the financing flawlessly. We hope this is the first of many garage opportunities for NPG in the Boston market.”

 

Michael Jackowitz

“Neighborhood Property Group’s acquisition of 14-40 Beach in Boston embodies the company’s focus and business plan – to acquire and reposition well-located, urban infrastructure assets in major U.S. markets to capitalize on the growing demand for mobility solutions,” said Michael Jackowitz, NPG’s Chief Operating Officer. 

“We value the assistance and professionalism of JLL and HarborOne Bank in fostering’s NPG’s expansion into the Boston market.”

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

 

CONTACT:

Jenna Sharp

JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

www.nbrhdpropertygroup.com.

 

 

Brett Thompson joins JLL Phoenix Office as Senior Vice President


 

Brett Thompson

 

PHOENIX, AZ – The Phoenix office of JLL  announced the addition of Brett Thompson as Senior Vice President.

 

 Thompson brings nearly a decade of experience to the full-service real estate firm. He will focus primarily on landlord representation, expanding JLL’s local market presence in this sector.

 

Thompson was previously a Director for a leading global commercial real estate brokerage firm, where he served local and multi-market accounts in corporate leasing, expansions, relocations, acquisitions and dispositions.


Ryan Timpani

In his new position, Thompson will work primarily with office leasing broker Ryan Timpani, who joined JLL in 2020, focusing on Class A office buildings.

 

“Brett puts the client experience as priority one and understands that tracking the fundamentals of a market – including the needs of its employees and employers – is the best way to create leasing success,” said JLL Senior Managing Director Pat Williams.



Pat Williams

“This is a great time to put those skills to work in Phoenix, as part of our JLL team.  We’re very pleased to welcome him.”

  

Thompson holds a Bachelor’s degree in Management from Arizona State University and is involved with the Urban Land Institute, Young Leaders, Valley Partnership, Phoenix Community Alliance and the Greater Phoenix Economic Council (GPEC).

 

He will be based out of the JLL Phoenix office, which this fall will expand and relocate into 31,000 square feet at The Grove, a $400 million, Class AA mixed-use destination being developed by RED Development on the northwest corner of 44th Street and Camelback Road, in the heart of the Camelback Corridor.

 

 

CONTACT:


Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

 

Friday, September 9, 2022

Bridge Lands Latest Tenant at Lenox Park in Atlanta, GA

 

Tina Renee McCall


  
ATLANTA, GA – Bridge Commercial Real Estate, a commercial brokerage subsidy of Bridge Investment Group, has executed a new office lease with Tidwell Group at 1277 Lenox Park, a seven-story, 152,234-square foot Class-A building nestled within the 32-acre mixed-use office campus in Atlanta.


J. Barry Tidwell

Totaling 9,483 square feet, the seven-year deal solidifies Tidwell Group’s commitment to bolstering its Atlanta hub in the coming years as the fast-growing company enters the next chapter of its growth story.

 Tidwell Group is a leading accounting and advisory firm specializing in the real estate, tax credit and construction industries.


Jeff Shaw

It is relocating the Atlanta team from its current office in Central Perimeter. 


The company is expected to hire an additional 25-30 new employees after the move is finalized later this fall, with Lenox Park’s lush greenspace, diverse amenity base and closer proximity to the urban core expected to provide an immediate recruiting advantage for young professional talent.

 

“Our extensive interior and exterior renovations and capital improvements at Lenox Park have created a first-class office environment that reflects Tidwell Group’s passion for its team and return to office,” said Tina Renee McCall, Managing Director at Bridge Investment Group.


 Kevin Lott

“We’re thrilled to welcome one of America’s fastest-growing accounting firms to the campus, which continues to serve as a dynamic talent hub for companies of all sizes.

 

"Emerging small-to-mid-sized users are driving a lot of the activity right now in both the local and national office market as more businesses place a premium on highly-amenitized buildings that equally value collaboration, wellness and flexibility.”


Trey Weghorst


 

Bridge Commercial Real Estate’s Jeff Shaw, Kevin Lott, Scott Rees and Trey Weghorst represented the landlord in the transaction. Greg Metcalf with JLL represented Tidwell Group.


"Our senior leadership team has evaluated numerous locations as we continue strategically expanding our tax credit and advisory services," said J. Barry Tidwell, Tidwell Group’s managing partner..

"Ultimately, we selected Lenox Park for its location and the incredible array of amenities for our employees."

Scott Rees
"Employees are our greatest asset. It's our goal to attract the best talent in the country and provide a modern and collaborative environment for them to thrive in."

Located adjacent to Buckhead’s central business district and offering immediate access to I-85, Georgia 400 and Peachtree Road, Lenox Park is a 1.1 million-square-foot, Class-A office campus offering a wide variety of options for tenants.

 Office spaces ranging from 3,000 to 380,000 square feet are available, including spec suites, traditional office space and flexible office space through Abridge, a new flexible-term office program that connects businesses with move-in ready office space while preserving individual brand and workspace.


Greg Metcalf 

Acquired by Bridge in 2018, Lenox Park has undergone a $16.8 million transformative repositioning, with added amenities, a full renovation of the courtyard, construction of a food and beverage building and a bridge connecting the 1277 building to the rest of the park.

 

The central courtyard features outdoor meeting spaces, walking trails, game areas, a dog park and entertainment activation space. Lenox Square Mall and Phipps Plaza are just a few minutes from the property, along with numerous hotels and restaurants.

 

As the return to office continues to slowly increase across the country, new numbers reveal that much of the existing narratives on the future of office may be based more on speculation than actual data.

 

“The flight to quality is being fueled by companies that understand the value of having their people together but also realize those workers now have choices in a real war for talent,” said Jeff Shaw, CEO of Bridge Commercial Real Estate.

 

“Office landlords and property managers must create a compelling environment and a better product that responds to the fast-changing preferences of today’s office workers.

 

"Firms like Tidwell Group represent the first wave of that movement, and I think we’ll see more of that activity ramp up as we head into the fall and the months beyond.”

 

To learn more about Lenox Park, visit lenoxparkatl.com/. For more information about Bridge Commercial Real Estate, visit bridgecre-office.com.

 

 CONTACT:

 Nick Banaszak,

 Vice President

www.thewilbertgroup.com

m: 256.457.5384