Ware Malcomb promotes Maria Rodgers to Director, PR and Communications

 

Maria Rodgers 

IRVINE, CA, Feb. 2, 2023 – Ware Malcomb, an award-winning international design firm, today announced that Maria Rodgers has been promoted to Director, PR & Communications.

  In her role, Rodgers will focus on further expanding the firm's media and communications programs and gaining exposure for Ware Malcomb’s growing number of offices across the Americas. 

             Ware Malcomb, Irvine, CA

 Rodgers joined Ware Malcomb in 2014 as Marketing Coordinator and, in 2018, took on responsibility for the firm’s public relations program.

  In 2020, Maria transitioned from the Irvine headquarters to the Newark office. In 2022, she was promoted to PR & Communications Manager, helping to secure a record number of media mentions for Ware Malcomb. 

 Throughout her career, Rodgers has managed significant communications initiatives for the firm, including PR strategy, thought leadership, media relations, social media, digital marketing and design awards/rankings. 

Maureen Bissonnette

“Maria is an invaluable leader on the Marketing team,” said Maureen Bissonnette, Principal, Marketing for Ware Malcomb. “Her drive, collaboration and commitment to the success of our team and firm have helped us attain new levels in our industry.

 "We are appreciative of her dedication and congratulate her on this promotion.” 

 In addition to her public relations leadership, Rodgers is a member of Ware Malcomb’s Diversity, Equity & Inclusion Communications Committee.

Ware Malcomb, Oak Brook, IL

 She also collaborates with the Strategic Initiatives and HR teams on internal and executive communications, as well as leadership onboarding.

  Rodgers earned her MBA from California State University, San Marcos and is an active member of the New Jersey chapter of Public Relations Society of America.

Contacts:

 Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers, Director,

 PR & Communications

 949.660.9128

 mrodgers@waremalcomb.com

 

Maureen Bissonnette,

 Principal, Marketing

 949.660.9128

 mbissonnette@waremalcomb.com

waremalcomb.com

 

Dream Finders Homes Now Selling in Phase 3 of Dunn’s Crossing in Jacksonville, FL; Several Opportunities Still Remain in Phase 2

Brad Muston

 JACKSONVILLE, FL  – Phase 3 of Dream Finders Homes’ premier community of Dunn’s Crossing is now open.  

Several opportunities – including quick move-in homes – still remain in Phase 2 of the single-family home community located at 11222 Robert Masters Court in Jacksonville. 

Prospective homebuyers may choose from eight one- and two-story floorplans ranging from 1,711 to 2,554 square feet of living space with prices starting in the high $200,000s, according to Brad Muston, Division President.  

“We have seen steady traffic at this community, and with square footage comprising three to five bedrooms and two to four baths, families of all sizes are finding the perfect fit at Dunn’s Crossing,” Muston said.

Dunn's Crossing model,
11222 Robert Masters Court
 in Jacksonville, FL 

“Our Dunn’s Crossing neighborhood offers the perfect balance of great location and quiet living,” Muston said, mentioning its close proximity to the Jacksonville International Airport, River City Marketplace and the Jacksonville Zoo.

For more information about the community, please call 888-208-7736 or visit dreamfindershomes.com/jacksonville/dunns-crossing/.

Contacts:

Brad Muston,

division president

 Dream Finders Homes

888-208-7736  Brad.Muston@dreamfindershomes.com

Alesha Gan

 Marketing Coordinator

 Dream Finders Homes

 Alesha.Gan@dreamfindershomes.com   

Beth Payan,

 Larry Vershel Communications

 407-461-3781

beth@larryvershel.com

 

Northmarq’s Atlanta office announces $15.2 million sale of Westpark Walk in South Atlanta, GA

 

Westpark Walk, a 73,847-square-foot
 shopping center located at
 400 Commerce Drive in
 Peachtree City, GA

ATLANTA, GA — Northmarq’s Jeff Enck, associate vice president, and Emery Shane, senior vice president, have completed the sale of a 73,847-square-foot shopping center located at 400 Commerce Drive in Peachtree City, Georgia.

 The center is 100 percent leased to 21 tenants. Enck and Shane represented the seller, an individual investor based in Washington, D.C. An Atlanta-based developer acquired the asset for approximately $15.2 million.

Jeff Enck

“The property is an excellent landmark shopping center at the busiest intersection in Peachtree City with a long history of high occupancy by local and national tenants,” said Enck. 

“Despite the rising interest rate environment, we were able to generate multiple offers from across the country and ultimately close with an investment group based in Atlanta. There was no lack of investor interest in this superb asset.”

Approximately 20 miles southwest of Atlanta and at the corner of Highways 54 and 74, Westpark Walk draws a combined 79,000 vehicles per day. 

The shopping center’s tenants include Tuesday Morning, Verizon Wireless, State Farm, Firehouse Subs, Hotworx, and local service providers and retailers.

 One tenant, Ranchero Mexican Grill, has been in Westpark Walk for over 33 years, and several tenants have been at the center for over 20 years.

The property is situated on 5.41 acres and surrounded by several super regional traffic generators such as The Avenue Peachtree City and The Shoppes at Peachtree City. 

Neighboring national retailers including Walmart, Home Depot, Best Buy, Aldi, TJ Maxx, HomeGoods, and more. Peachtree City is home to over 62,000 people with an average household income over $134,000 within 5 miles.

 

 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.”

 

Northmarq.com.

 

JLL’s Hotels & Hospitality Group closes sale of 655-key hotel at 525 Lexington Avenue in Midtown East New York City

Gilda Perez-Alvarado

 

NEW YORK, NY, Feb. 2, 2023 – JLL’s Hotels & Hospitality Group announced today that it has closed the sale of 525 Lexington Ave., a 35-story, 655-key, full-service hotel in New York City’s Midtown East neighborhood. The parties have agreed to not disclose the purchase price.

Stephany Chen

JLL represented the seller, Deka Immobilien, in the sale to a joint venture of Hawkins Way Capital and Värde Partners. The hotel, which was formerly branded as the Marriott New York East Side, was closed at the time of sale and offered unencumbered by brand and management.

Jeffrey Davis

Originally constructed in 1922 as one of the first skyscraper residential hotels, the hotel received landmark status in 2016 cementing its historical significance to Midtown.

 

 The transit-oriented hotel is located within walking distance of nine subway lines providing easy access to all five boroughs.

Bob Knakal

The property is also within walking distance of popular tourist sites, including Bryant Park, New York Public Library, Grand Central Terminal, Grand Central Market, Chrysler Building and more.

 

The JLL Hotels & Hospitality team representing the seller was led by Co-Head of US Investment Sales, Senior Managing Director Jeffrey Davis and Global CEO Gilda Perez-Alvarado, with support from Executive Vice President Stephany Chen and Chairman NY Investment Sales Bob Knakal.

 

“New York City is experiencing a renewed interest among investors as lodging fundamentals rebound at phenomenal levels. We anticipate continued interest among groups for strategic opportunities as the city continues to recover,” said Davis.

SOLD:  525 Lexington Ave.,
 a 35-story, 655-key, full-service
hotel in New York City’s
Midtown East neighborhood.

 

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide.

 

The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.

 

Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

 

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

 

Contacts:

 

Cierra Lacasse,

JLL Associate,

 Public Relations

Phone: +1 602 648 8701

Email: Cierra.Lacasse@jll.com

 

www.hawkinsway.com

jll.com.

www.varde.com.

 

 

 

 

 

 

 

Bond Markets respond to Fed rate hike by dropping 10-year treasury yield by 8 percent

John Oharenko

 Chicago, IL, Feb. 1, 2023 – It's all about the Fed.  The Fed raised rates by a quarter point today and announced that another quarter-point increase should be expected at the next meeting.

  The bond markets responded by dropping the 10-year treasury yield by more than eight percent.  

 

As consumer spending slows on retail goods, the Fed focuses on controlling wage inflation.  The Fed's leadership suggested that a 5% interest rate would help reduce inflation. 

 

The new annual inflation target is likely to hover in the 2.5%-to-3% range instead of the 2% benchmark that has existed since the end of the Great Recession. 

 

 In addition to Fed news, a couple of other "hot" topics realty investors face include negative leverage, yield fatigue and strict underwriting:

 

Negative Leverage:  As long as mortgage rates exceed cap rates, negative leverage keeps investors sidelined.  The dramatic bid-ask pricing differential discourages more market liquidity.   However, select players bet on inflation protection to lift overall yields during the later years of the projected holding period.  Alternatively, unleveraged buyers (e.g., pension funds) remain committed to income-property real estate, especially core and core-plus assets.  Also, many investors believe mortgage rates will drop as the economy cools.  Cap rates will remain steady due to a limited supply of desirable properties.

Yield Fatigue:  Ample funds, but equity yields get absorbed by higher mortgage rates, even with lower leverage levels (e.g., 50% to 65% LTV).  Mid-three-percent-or-less yields discourage many investors from such deals plagued by "yield fatigue," even with the expectation of upside from inflationary profits.  Alternative stock market investments gain favor, including publicly held real estate companies trading below private equity prices.

Strict Underwriting:  Unlike previous real estate economic cycles, short-term lenders maintain strict discipline for underwriting value-add and construction ventures, particularly for new deals.  Banks and other financial institutions worry about balance sheet reserves for existing projects nearing stabilization as regulators monitor portfolios for too many loan extension risks.  Takeout lenders and an absence of buyers add more concern as long-term debt burdens owners with higher mortgage rates based on fewer proceeds.  As has been the case for much of last year, debt service coverage limits loan proceeds instead of LTV ratios.   At the same time, developers are resizing return-on-cost yields to reflect higher debt costs and risk, adding 100 to 150 basis points to exit cap rates.

John Oharenko, director of The Real Estate Capital Institute's® director, suggests, "Investors place more emphasis on patience this year.  Taming labor and operating costs rank as key factors managing properties, as few new opportunities exist."

 

# # #

The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates, including treasuries, bank prime, and LIBOR.  

 

Contact:

John Oharenko, Executive Director

director@reci.com / www.reci.com

 

^The   Real Estate Capital Institute^®

Chicago, Illinois USA 60622

 

 

 

Ware Malcomb Announces Completion of Medline Distribution Center in Grayslake, IL

 

 Dawn Riegel

OAK BROOK, IL,  Jan. 31, 2023 – Ware Malcomb, an award-winning international design firm, today announced the completion of a new Medline distribution center located in Grayslake IL.

 Ware Malcomb provided architecture, interior design and branding services for the 1,426,800 square foot facility, which is estimated to be the largest medical-grade distribution center in the United States.

 The final phase of development, a 2,700 square foot office build-out within the facility was recently completed for Medline’s Sterile Procedure Trays Division. 

      “Medline’s project is a tremendous success story, as it brings new jobs to the Grayslake area and fosters a work atmosphere that embodies our client’s employee-focused culture,” said Cameron Trefry, Principal for Ware Malcomb’s Oak Brook, Chicago, Columbus and Washington D.C. offices.

In the design of the precast concrete panel structure, Medline and Ware Malcomb specifically chose the placement of their walkways and mezzanines to allow direct views of their warehouse operation.

Cameron Trefry

 

This design feature fosters client communication, an understanding of Medline’s business, all while demonstrating the speed and efficiency of its packaging and dispatch functions.

The mezzanine views within the center also showcase a unique self-contained 60,000 square foot automated storage and retrieval system (ASRS) that picks and packages items and places them onto crates, reflecting a growing trend toward automation in warehouse and fulfillment operations. 

The 1,426,800 square foot facility
 is estimated to be the largest
medical-grade distribution
center in the United States.

“We were pleased to collaborate with Medline on a facility with a variety of design innovations, making it a complement to their nearby headquarters and the premier distribution center example for their company,” said Dawn Riegel, Principal for Ware Malcomb’s Oak Brook and Chicago offices.

The new facility includes a main office area, receiving and shipping offices, temperature control room and a white box area for future expansion.

 Employee-focused amenities include uniquely branded break areas with billiards, foosball tables, specialty furniture, and collaboration space to provide a true respite.

 

The design also incorporates sleep rooms and quiet areas for workers to concentrate or unwind. By designing a space that considers all types of backgrounds and needs, Medline created an inclusive, healthy environment for its workforce.

 

As the nation’s largest privately held manufacturer and distributor of medical supplies, Medline has a commitment to sustainable operations and requires its facilities to be LEED-certified.

 

The Medline Grayslake project achieved LEED v4 BD+C certification using elements such as efficient plumbing fixtures, natural plant selections for reduced irrigation, enhanced commissioning and energy modeling of the building, on-site recycling program, construction and demolition waste management, and energy metering.

Having worked on more than 70 projects together, the Ware Malcomb and Medline teams collaborated to develop a national prototype for their distribution facilities.

 Ware Malcomb’s Corporate Accounts program spans a variety of industries including office, industrial, retail, science & technology, restaurant and education across markets. The unique program facilitates the delivery of consistent, integrated design services for clients, with both local, specialized staff and the vast companywide resources across the Americas.  

General contracting services for the project were provided by Alston Construction Company.

  

 Contacts:

      

Photography credit: Johnny McLendon Photography

 Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers, Director, PR & Communications

 949.660.9128

mrodgers@waremalcomb.com

 

Maureen Bissonnette, Principal, Marketing, 949.660.9128

 mbissonnette@waremalcomb.com

 

 

waremalcomb.com

 

 http://www.waremalcomb.com/news/ 

 https://www.youtube.com/waremalcomb.