Member News  

NAIOP Member News offers members the opportunity to promote important announcements from their company. These include personnel transactions (hirings, promotions), company news (awards, relocations, stock reports, mergers and acquisitions) and deals (purchases, sales, major financing, awarding of property management contracts, groundbreaking and topping off, leases and land sales).

Submit your news using the online form. NAIOP will review submissions for length, clarity and appropriateness. Press releases sent directly to NAIOP may not be included.

08/17/2017 Company News

Dermody Properties Completes 546,480 SF Logistics Facility in Las Vegas

Dermody Properties

(LAS VEGAS, Nev.) – Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of logistics real estate, recently completed LogistiCenter at Las Vegas Boulevard, a 546,480-square-foot facility in the North Las Vegas submarket. Coming off its largest quarterly expansion of industrial inventory since the first half of 2008, North Las Vegas is a highly desirable market for e-commerce and omni-channel industrial operations. North Las Vegas is the largest warehouse/industrial market in Las Vegas with the most affordable rental rates and largest buildings. “Currently, LogistiCenter at Las Vegas Boulevard is the only completed building in North Las Vegas with more than 325,000 square feet available. This building is ideal for tenants who have a large customer base and need an e-commerce ready building,” said George Condon, West Region Partner, Dermody Properties. “Its location next to Interstate 15 means future tenants will be able to fulfill and distribute orders quickly and efficiently.” LogistiCenter at Las Vegas Boulevard can accommodate up to four tenants ranging in size from 125,000 to 546,480 square feet. The site also contains an additional eight acres for parking, trailers or a second building. The recently completed building is e-commerce-ready, with 36 feet of clear height and above-standard auto and trailer parking. Its central location within the western U.S. makes it ideal for fulfillment, distribution and warehouse operations. United Construction Company was the design-build contractor on the project, and Colliers International is serving as the broker marketing the building. Dermody Properties has been developing and investing in industrial real estate in Las Vegas for more than 40 years.

Contact: Chrisie Yabu, 775-686-7437

08/11/2017 Deal

Fernandez and Fallon Retained to Sell Prime Shaw Neighborhood Retail


Rick Fernandez, Senior Managing Director and Andrew Fallon, Executive Managing Director of Calkain’s Urban Investment Advisors, have been retained to sell 1544 9th Street NW, Washington, DC. The real estate property has a twelve-year net lease with the New Orleans style, French Quarter Brasserie & Oyster Bar (FQB). The highly visible corner real estate consists of two floors and basement including 3,800 square feet of interior space as well as 590 square feet of outdoor patio seating. Significant improvements were made to the highly adaptable real estate on the corner of 9th and Q street in DC’s dynamic Shaw neighborhood. “A landlord friendly long-term NNN lease with structured rent increases will appeal to real estate investors from across the country," Fernandez stated. “Urban investment retail provides investors with an opportunity for significant growth in income as well as appreciation of the underlying real estate," commented Fallon.

Contact: Traci Bidinger, 703-935-0947

08/11/2017 Company News

Second Quarter 2017 Growth Expected


Calkain released its Net Lease Economic Report earlier this week predicting a second quarter bounce back after a relatively slow beginning to the year. Having teamed up with Sage Policy Group, Inc., the report begins with an overall look at the economy, before focusing in on the net lease sector of commercial real estate. “Economic prospects, which had looked quite promising beginning the year, are now moderating,” said Anirban Basu. “Consumer spending has continued to disappoint, even in the face of low unemployment and stable wage growth. The result has been a wave of retail store closings. Second quarter growth has been better, but a combination of forces has rendered the economic outlook for future quarters less clear. This set of circumstances will continue to support significant interest in the single tenant net-lease market, with its combination of tenants with strong balance sheets and disproportionate emphasis on consumer staples.”

Contact: Traci Bidinger, 703-935-0947

08/11/2017 Company News

Calkain's Fernandez Arranges $7M+ Sale of Two NoVa Daycare Centers


Rick Fernandez, Senior Managing Director of Calkain Companies, brokered the sale of two daycare centers in Manassas and Woodbridge Virginia totaling over $7 Million. The properties are leased to The Learning Experience, one of the fastest growing daycare operations in the country. Fernandez commented, “The solid real estate fundamentals, favorable lease terms and near capacity enrollments were the deciding factors for the buyers.” He continued, “Calkain’s national reputation as the leading provider of net lease investments drew investors from around the country and we were able to secure multiple offers providing our client with the most favorable closing options.”

Contact: Traci Bidinger, 703-935-0947

08/11/2017 Deal

Calkain Urban Investment Advisors Brokers $9.2M, 6.5% Cap Sale of Urban Retail in Washington, DC


Calkain Urban Investment Advisors, the urban division of Calkain Companies, brokered the $9.2M sale of the commercial units at the Tenley Hill condominium at 4719-4731 Wisconsin Avenue, Washington, DC. Tenley Hill is a premier mixed-use, luxury LEED Certified condominium developed by PN Hoffman in 2001. Offered for sale were the 100% leased first and second floors of the building featuring six commercial condominium units of approximately 20,000 SF. The commercial units have a dedicated lobby and private 24-space parking garage. The buyers acquired the property as part of a 1031 exchange.

Contact: Traci Bidinger, 703-935-0947

08/11/2017 Personnel News

Cavingnac & Associates Hires Alejandra Moises as Employee Benefits Account Manager

Cavignac & Associates

Alejandra Moises has been appointed as account manager within the Employee Benefits Department of Cavignac & Associates, announced Jeff Cavignac, CPCU, ARM, RPLU, president and principal of the San Diego-based risk management and commercial insurance brokerage firm. Moises brings to Cavignac & Associates nearly 10 years of experience in the insurance industry, specifically in the area of employee benefits. In her new position, she is responsible for maintaining ongoing relationships with clients’ human resource teams or individuals, assuming full responsibility for servicing her assigned customer accounts. Her duties include completing request for proposals and preparing quotations for new or renewal coverage, planning and conducting open enrollment meetings, and coordinating applications and forms with carriers.

Contact: Bonnie Kutch, 619-299-1010

08/08/2017 Company News

C.W. Driver Companies Announces Completion of the $50 Million Newport Beach Country Club

C.W. Driver Companies

C.W. Driver Companies, a premier builder serving California since 1919, today announced the completion of the $50 million Newport Beach Country Club. Located at One Clubhouse Drive in Newport Beach, California, the 65,000-square-foot, two-level luxury development is owned by International Bay Clubs, LLC. C.W. Driver Companies’ affiliate Driver SPG, an arm that specializes in shorter completion times for tenant improvement, renovation and new construction projects, completed the build. The ground level of the country club includes a golf shop, outdoor dining patio, fitness center with a yoga/dance studio and men’s and women’s locker rooms equipped with a spa, dry sauna and steam room. Outdoor amenities include an outdoor lap and children’s pool as well as a snack bar. The clubhouse, which overlooks Pacific Coast Highway, features a restaurant, full bar, private dining room, flexible event space/boardrooms and a 4,000-square-foot grand ballroom. The project was awarded California’s Division of Occupational Safety and Health’s Golden Gate recognition for effectiveness in safety and health management systems, and American Society of Civil Engineers’ 2017 Outstanding Architectural Engineering project. In addition to Bolda, the Driver SPG project management team included Matthew Loorya, senior vice president; Andrew Borchman, project manager; Art Torres, superintendent; Chris Lopez, superintendent; Bob Boyle, superintendent; Leo O’Brien, senior superintendent; Serge Norkin, senior project engineer and Agustin Pradillo, project engineer. Melzer, Deckert, & Ruder Architects served as architects for the project. Driver SPG has an extensive portfolio of hospitality work in Orange County, including the Hyatt Regency’s Watertable Restaurant and lobby renovation, Balboa Bay Resort’s A & O Restaurant and lobby renovation, Blend Café and Waterline Restaurant.

Contact: Jade Terry, 714-263-8752

08/01/2017 Company News

C.W. Driver Companies Breaks Ground on $17.9 Million Mission Hills-Hillcrest Harley & Bessie Knox Public Library

C.W. Driver Companies

C.W. Driver Companies, a premier builder providing general contracting, construction management and design-build services to California, broke ground on the $17.9 million construction of the new Mission Hills-Hillcrest Harley & Bessie Knox Public Library, the company announced today. The 14,000-square-foot, one-story structure will be nearly four times the size of the current library, and will be constructed on the site of the old International Brotherhood of Electrical Workers (IBEW) building located at 925 West Washington Street. The project is expected to be completed in the summer of 2018. Originally opened in 1961, the library is being reconstructed to better serve the growing population of the surrounding neighborhoods. The new library will feature a study space, computer lab, community meeting room, Friend’s of the Library room and children and teen spaces. With architectural direction by Manuel Oncina Architects and Ferguson Pape Baldwin Architects, the project will be LEED Gold certified and will rest on top of a 30,000-square-foot, two-story below grade parking structure with 85 parking spaces, 76 more than the previous facility. Off-site improvements such as a drought-tolerant landscape and the formation of a cul-de-sac are similarly included in this project. In addition to Freeark, a number of C.W. Driver Companies team members will play a vital role in this project, including Andy Feth, project director; Todd Rider, project manager; John Nelson, senior superintendent; Daniel Tillett, senior project engineer; and Karen Lord, project coordinator. Mission Hills-Hillcrest Harley & Bessie Knox Public Library bolsters C.W. Driver Companies’ roster of civic projects for the San Diego region. Past projects include: Alpine Branch Library, Ramona Branch Library and Fallbrook Branch Library.

Contact: Jade Terry, 714-263-8752

07/28/2017 Deal

Dermody Properties Acquires 81,704 SF Fremont Industrial Center

Dermody Properties

Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of industrial real estate in the U.S., recently acquired the Fremont Industrial Center. The 81,704 SF building is located at 2710 Lakeview Court in Fremont, Calif., one of the best industrial markets in the San Francisco Bay Area. Currently, the building is fully leased. “As we continue to grow our portfolio throughout northern California, the Bay Area is a key market for Dermody Properties,” said George Condon, West Region Partner, Dermody Properties. “We are excited to acquire an Advanced Manufacturing building fronting I-880. The building is seen by hundreds of thousands people each year.” Fremont Industrial Center sits on 4.96 acres. It features modern office space, loading for advanced manufacturing users and four parking spaces per 1,000 SF. Dermody Properties is planning substantial improvements to the building, including a new roof, interior renovations and HVAC upgrades. “The Fremont Industrial Center is an outstanding addition to our portfolio in this strategic Silicon Valley submarket,” said Douglas Kiersey, President, Dermody Properties. “The San Francisco Bay Area is a hub for many industries ranging from technology and e-commerce to omni-channel retail, distribution and manufacturing. We are very pleased to add this asset to our portfolio.” Dermody Properties acquired the Fremont Industrial Center from a private investor. Eddie Shuai, Senior Vice President, and Steven Chon, Senior Vice President, of JLL represented Dermody Properties and the seller in the transaction. “This acquisition for Dermody provides them a high-profile building in the heart of Silicon Valley and the Advanced Manufacturing Capital,” said Eddie Shuai, Senior Vice President, JLL. “Top innovative tech companies will continue to look at Fremont to locate their advanced manufacturing operations.”

Contact: Chrisie Yabu, 775-686-7437

07/20/2017 Deal

QuickLiquidity Purchases Second Mortgage on 188-Unit Apartment Community for $1.9 Million


Boca Raton, FL, July 20, 2017: QuickLiquidity, a leading real estate private equity firm providing equity recapitalizations and subordinated debt on commercial real estate, has announced that it has purchased a $1.9 million second mortgage on a 188-unit apartment community in Phoenix, AZ. The property was purchased by the borrower in 2015 and has since undergone extensive renovations, with a focus on sustainable living. When the property was purchased, half of the down payment required by the first mortgage lender was invested by the seller of the property in the form of a second mortgage. The second mortgage included an option for the second mortgage lender to convert their debt to half of the property’s equity. Over the past two years substantial renovations were made to the entire property, allowing the borrower to bring in stronger tenants and raise the rents by nearly 50%. This increased the property’s income and therefore the property value significantly grew. Some of the renovations to the property include complete interior and exterior renovations of all units, a remodeled leasing office, a new roof, new heating, ventilation and air conditioning, and new asphalt. In order for the second mortgage lender to convert their debt to equity and monetize the gains of the significantly increased property value, they would have to wait for the property’s remaining renovations to be completed, the occupancy increased, and for the property to be marketed and sold. However, the second mortgage lender had already been invested in the property for many years and preferred an early exit from the investment. QuickLiquidity worked with the borrower to purchase the existing second mortgage and modify the terms to remove the equity conversion option while extending the maturity date. This gives the borrower ample time to complete their renovations, increase the occupancy, and then either refinance or sell the property.

Contact: Yoni Miller, 561-221-0881

07/19/2017 Personnel News


Lee & Associates of Eastern Pennsylvania

Camp Hill, Pennsylvania, July 19, 2017 – Lee & Associates of Eastern Pennsylvania is pleased to announce that accomplished industry professional Joel Kreider, SIOR, has joined the firm's Central Pennsylvania office as a Principal. In this role, Joel will bring his 29 years of experience to bear for the company’s customers, as well as an in-depth knowledge of the Western Pennsylvania Industrial Market. "Joel is a skilled professional with an extensive background and has a great reputation in the commercial real estate business," said John Van Buskirk, SIOR, Principal and Broker of Record for Lee & Associates of Eastern Pennsylvania. "He brings a wealth of knowledge and the experience necessary to make an immediate impact on our market.” Prior to joining Lee & Associates of Eastern Pennsylvania, Joel served as Managing Director in Newmark Grubb Knight Frank’s Pittsburgh office and was owner and broker of record for Tartan Realty, LLC. Joel has developed, owned and managed a business park. “I’m excited for the opportunity to introduce myself and expand my relationships into the dynamic Central Pennsylvania market” said Kreider. "I look forward to being a part of the Lee & Associates team and together, supporting our existing and future clients through every aspect of our industry." Joel Kreider is a licensed real estate broker in the Commonwealth of Pennsylvania and is a member of the Society of Industrial and Office Realtors (SIOR) and NAIOP, as well as PAR and NAR. For more information, please contact John Hickey at 717.208.8669, email or visit the Lee & Associates of Eastern Pennsylvania website at

Contact: John Hickey, 717-208-8669

07/18/2017 Company News

NAIOP Developing Leaders Forum Member Named to Sixth Annual Jewish “36 Under 36” List


CHICAGO – Bryan Rosenberg, 30, a member of the National Association of Office and Industrial Professionals (NAIOP) Developing Leaders Forum, has been named to the sixth annual “Double Chai in the Chi: 36 Under 36” list of young Jewish movers and shakers in Chicago. (The letters of the Hebrew word “Chai,” which means “life,” also represent the number 18.) Check out the list and full bios online at: Presented by the Jewish United Fund of Metropolitan Chicago’s Young Leadership Division (YLD) and Oy!Chicago (—an outreach website for Chicago 20- and 30-somethings—the list shines a spotlight on the faces of Chicago's Jewish future and recognizes the amazing contributions of this generation. The young professionals featured are noted for making a difference through their work, giving back in their free time, and earning distinction in the Jewish community and beyond.

Contact: Jessica Leving, 312-444-2887

07/11/2017 Deal

National Industrial Developer Dermody Properties Expands to Southern California With Acquisition of 75,960 SF Facility

Dermody Properties

SANTA FE SPRINGS, Calif. – Dermody Properties, a national real estate investment, development and management company headquartered in Reno, Nev. and specializing in acquisitions and development of industrial real estate in strategic locations across the United States, recently acquired the Bloomfield Industrial Center located in Santa Fe Springs from a private investor. Located at 10712-10748 Bloomfield Ave. this 75,960-square-foot warehouse and distribution facility marks Dermody Properties’ first offering in the Southern California area. Currently, up to 37,800 SF of this multi-tenant property is available for lease. “We appreciate the hard work of Jeff Chiate, Jeff Cole, Mike Adey, Ed Hernandez and Chuck Berger of Cushman and Wakefield and Bob Crenshaw of Newmark Grubb Knight Frank who represented both buyer and seller in the transaction,” said Nancy E. Shultz, SVP, Capital Deployment, Dermody Properties. “Mr. Berger along with Mike Foley, Dave Hess, and Ryan Bos from Cushman and Wakefield have been retained to lease the two vacant spaces available at the Bloomfield Industrial Center.” There are two units available for lease at the project: a 22,440 SF unit with 1,349 SF of refurbished office space, and a 15,360 SF unit with 1,357 SF of refurbished office space. The units are adjacent to one another and can be combined to create a single unit size of 37,800 square-feet. Bloomfield Industrial Center offers dock high loading, 24-foot interior warehouse clearance, LED lighting and a prime corner location.

Contact: Chrisie Yabu, 775-686-7437

07/11/2017 Deal

National Industrial Developer Dermody Properties Acquires 111,043 SF Class-A Industrial Building in the Silicon Valley

Dermody Properties

SAN JOSE, Calif. – Dermody Properties, a national real estate investment, development and management company headquartered in Reno, Nev. and specializing in acquisitions and development of industrial real estate in strategic locations across the United States, recently acquired the 111,043 SF Silicon Valley Industrial Center from a private investor. Located at 6212 Hellyer Ave. in San Jose, California, the Silicon Valley Industrial Center is one of the only Class-A industrial buildings currently available in the Silicon Valley. Currently vacant, the entire property is available for lease. “Dermody Properties is very pleased to add the Silicon Valley Industrial Center to our portfolio as we further expand our services in this region’s ever-growing industrial community,” said Douglas A. Kiersey, President, Dermody Properties. “Jason Ovadia at JLL presented us with the opportunity to purchase the property and we didn’t hesitate to pursue the off market acquisition. It’s a great fit for our new portfolio of buildings in Northern California. We now have buildings in Lathrop, Hayward, Fremont and San Jose,” said George Condon, West Region Partner, Dermody Properties. “This is a strategic purchase for Dermody Properties, with excellent proximity to labor and the San Jose metropolitan region, in an industrial supply constrained market,” said Jason Ovadia, broker for JLL who handled the sale of the property. “The headquarters for many of the largest and most successful tech companies in the world call the Silicon Valley home. And 75 percent of all Fortune 500 companies headquartered in the Silicon Valley are within 15 miles of downtown San Jose which places this property in an ideal location.” Jason Ovadia, Greg Matter and Mark Bodie of JLL were retained by Dermody Properties to market the Silicon Valley Industrial Center for lease.

Contact: Chrisie Yabu, 775-686-7437

07/11/2017 Personnel News

Michael Staton to Lead CPC’s Expansion of Permanent Lending Platform in New Jersey

The Community Preservation Corporation

The Community Preservation Corporation (CPC) announced that Michael Staton, former Vice President of Commercial Real Estate Lending for TD Bank, N.A., has joined its growing loan originations team as a Vice President and Mortgage Officer. Mr. Staton will take a lead role in bringing CPC’s suite of Freddie Mac and Federal Housing Administration (FHA) lending products to multifamily building owners throughout the Northeast region with a focus on cultivating new relationships in New Jersey. With over three decades of commercial mortgage lending and real estate financing experience, Mr. Staton brings a wealth of knowledge and deep expertise of the regional market to CPC. From 1985 through 2012, Mr. Staton worked for New Jersey Housing and Mortgage Finance Agency (HMFA) where he built a foundation in accounting, asset management, financial management, and credit. In 2004, he became Director of Multifamily Programs and Lending, a position he held until 2012. Under Mr. Staton’s leadership, the agency closed more than 200 multifamily developments with mortgages totaling more than $800 million. After departing the HMFA, Mr. Staton became Vice President of Originations at WNC & Associates, where he managed investments in Low Income Housing Tax Credit properties to support the preservation and creation of affordable housing in New York, New Jersey, and other states in the Northeast. In 2015, Mr. Staton joined TD Bank where he led efforts to cultivate relationships with commercial real estate borrowers. He also created lending structures for investors, leveraging an array of lending products from conventional construction and permanent financing, tax-exempt bond direct placement, bridge loans, and federal, state, and historic tax credit programs.

Contact: Stephanie Ramirez, 212-784-5704

07/11/2017 Company News

Dermody Properties Breaks Ground on 1,081,200 SF Building known as LogistiCenter at Midway in Berks County, Penn.

Dermody Properties

Bethel Township, Penn. – Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of industrial real estate across the U.S., recently broke ground on LogistiCenter at Midway. At completion, the building will offer 1,081,200 SF of space ideally suited for warehouse, distribution or e-commerce business. Dermody Properties expects to complete construction in the spring of 2018. “Dermody Properties has been investing in the Central Pennsylvania market for over 20 years,” said Douglas Kiersey, President, Dermody Properties. “Our customers are attracted to the market by access to a high percentage of the United States and Canada populations, as well as the presence of a high-quality labor pool.” LogistiCenter at Midway is located at 270 Midway Road in Bethel Township, Penn. on a 136-acre site with direct access to I-78. This transportation-advantaged location puts it within a one-day truck drive of 36 percent of the US population and 60 percent of the Canadian population. Nearby multi-national companies include Samsung, Dollar General, and PetSmart. “This project emphasizes the focus we have on building modern, flexible-use facilities that allow our customers to reach their consumers quickly and efficiently,” said Eugene Preston, East Region Partner, Dermody Properties. “Over the past four years, Dermody Properties has invested in the Northeast with more than 5 million square feet of new development. All of these projects fit within our strategy of providing premier developments in markets with key demand drivers.” The building architect is Ware Malcomb and the general contractor is Blue Rock Construction. LogistiCenter at Midway is being marketed for lease by Joseph McDermott, Vincent Ranalli, and Jake Terkanian with CBRE.

Contact: Chrisie Yabu, 775-686-7437

07/06/2017 Company News

Cox Castle Nicholson Named to The Legal 500 United States 2017 Series

Cox Castle Nicholson

Cox Castle Nicholson, a preeminent full-service law firm focused on real estate in the United States, today announced that it has been recognized on the 2017 Legal 500 list in the real estate, construction and land use/zoning categories. In addition, nine of the firm’s distinguished attorneys statewide received the “recommended attorney” designation, an honor based purely on merit. It is the firm’s fourth year on the Legal 500 rankings in the real estate and land use/zoning categories and its first in construction. Used by commercial and private clients, corporate counsel, CEOs, CFOs and professional advisors, The Legal 500 is widely recognized as the world’s largest legal referral guide, with more than four million unique visitors annually. More than 250,000 corporate counsel were surveyed and interviewed globally over 12 months to produce the guide, which is purely merit-based.

Contact: Jade Terry, 714-263-8752

07/05/2017 Personnel News


Fort Capital

Fort Worth-based real estate development & investment firm, Fort Capital, has hired Sarah LanCarte, previously a top commercial broker with Transwestern, to lead & grow its commercial acquisitions & leasing team. With the hire of LanCarte, Fort Capital will expand its platform to acquire & manage industrial & commercial properties throughout Fort Worth & surrounding counties. Fort Capital has recently announced plans to invest $1B in the next five years, making it one of the leading real estate owners throughout Fort Worth. “Sarah’s arrival at Fort Capital is our message to the market that we will be acquiring & developing industrial & commercial properties,” said Chris Powers, CEO of Fort Capital. “We struck a very mutual vision for how we hope to impact Fort Worth. Sarah’s career speaks for itself – she was the top broker at Transwestern & has an uncanny ability to build solid relationships & execute on them. Her market knowledge, network, & work ethic make her a perfect fit for our firm as we look to rapidly expand our commercial business.” LanCarte has garnered more than seven years of experience in the Fort Worth commercial real estate market as a broker at Transwestern’s Fort Worth office. In her new role as managing director, LanCarte will be responsible for expanding Fort Capital’s commercial real estate platform by identifying new acquisition opportunities & strategically managing / leasing portfolio investments. “Joining Fort Capital was a strategic move for me, “ said Sarah LanCarte, Fort Capital’s new managing director. “We plan to grow the commercial division through smart acquisitions, developments & great hires.” LanCarte is currently president-elect of Fort Worth CREW, a professional organization that focuses on advancing the success of women in real estate, &, in 2016, was named one of Fort Worth Business Press’ Top 20 in their 20s. LanCarte is a graduate of Auburn University, & holds a Bachelor of Business Administration degree in Finance & a Bachelor of Arts degree in Spanish.

Contact: Brenna Jefferies, 817-546-8339

06/20/2017 Company News

Miller Construction Company Completes $20.8 Million Sereno at Bay Harbor Islands Waterfront Condominium Community

Miller Construction Company

Miller Construction Company has completed the upscale Sereno at Bay Harbor Islands condominium community for co-developers Integra Investments and 13th Floor Investments. From the private, 13-slip marina to elaborate rooftop amenities, the nine-story, post-tensioned concrete structure takes full advantage of its location overlooking Florida Bay, Bal Harbour and the Atlantic Ocean. Miller’s crews created the curving structure to maximize the waterfront site’s panoramic views. Located on one of the last developable waterfront sites in the affluent, residential Bay Harbor Islands neighborhood, the $20.8 million project involved unusual construction challenges. Staging and deliveries had to be meticulously coordinated within the tight site to confirm to strict code provisions and avoid inconveniencing neighbors, according to Brian Sudduth, Miller senior vice president, preconstruction. Municipal regulations against weekend and evening construction noise meant Miller had to drive a highly disciplined schedule. With contemporary design by Corwil Architects of Coral Gables, Sereno at Bay Harbor Islands features a three-story lobby, expanses of glass throughout and extensive landscaping. Rooftop amenities include a zero-edge pool with cabanas, lounge with fire pit, bar and barbeque areas, an outdoor theater with surround sound and outdoor dining area. Each residence has private elevator access. The new community replaces an aging condominium at the site. Miller Construction Company partnered with the developers from the redevelopment’s early stages to deliver a unique waterfront living environment that was fully sold prior to completion. Founded in 1973, Miller Construction Company has built more than 400 projects for the private sector. The prominent South Florida design/builder and construction services firm serves commercial, industrial, multifamily, educational, retail and healthcare markets. For information:

Contact: Linda Lewis, 954-428-4477

06/15/2017 Company News

C.W. Driver Companies Appoints Corky Silva, LEED AP, as Northern California Project Executive

C.W. Driver Companies

C.W. Driver Companies, a premier builder providing general contracting, construction management and design-build services to the Western United States, has hired Corky Silva as project executive, the company announced today. In his new role, Silva will oversee the company’s Northern California projects, including the Hillsdale Shopping Center – North Block Redevelopment – one of the largest enclosed shopping centers in the San Francisco Bay Area. In an area where household incomes are twice the national average, the Hillsdale Shopping center attracts more than 8 million affluent shoppers annually. Led by Silva, C.W. Driver Companies’ $155 million reconfiguration of the 12.5-acre northern portion of the center involves tearing down the Sears building, redeveloping the surface lot and 291,519 square feet of retail, dining and entertainment space. The project is expected to be completed in 2018. In his new role, Silva will oversee Northern California project teams, work with owners to ensure projects meet expectations and generate new business opportunities in the high-rise and hospitality space. He is a LEED (Leadership in Energy and Environmental Design) Accredited Professional. Prior to C.W. Driver Companies, Silva worked on high-rise and hospitality projects as a project executive at Johnstone Moyer. He also previously served as project manager for Barry Swenson Builder, working on high-rise and multifamily residential construction. A San Jose resident, Silva earned a bachelor’s and master’s degree in civil engineering from San Jose State University.

Contact: Jade Terry, 714-263-8752

06/12/2017 Company News

James A. Kurek Joins Liberty Property Trust as Vice President, Information Technology Officer

Liberty Property Trust

News Release General Inquiries: Jeanne Leonard, Liberty Property Trust, 610.648.1704 Media Contact: Robbie Raffish, a.s.a.p.r., 443.944.9301 James A. Kurek Joins Liberty Property Trust as Vice President, Information Technology Officer Malvern, PA – June 12, 2017 - Liberty Property Trust today announced that James A. Kurek has been named vice president, information technology officer for the company. “Technology changes at hyper speed, and Jim has a proven track record for staying with and ahead of the challenges,” said Chris Papa, executive vice president and CFO at Liberty. “We are excited to have his expertise on our team.” Kurek comes to Liberty with more than 20 years of experience, most recently as senior vice president of infrastructure and operations at D+H Corporation in New York. He was responsible for the global technology footprint of D+H, a payments and lending technology provider serving banks and financial institutions. Kurek oversaw three North American data centers and provided technical and strategic leadership to a worldwide team of technology executives covering a full suite of technology-related services. Previously, Kurek served as senior director of technical services for Razor Technology and senior director of information systems/segment security officer at SunGard Financial Systems. He’s also held positions at Commerce Bank (TD Bank) and Promia, Inc. Kurek is in the process of completing a Master of Science in Information Systems at Penn State and holds a Bachelor of Science in Administration of Justice/Computer Science also from Penn State. He has attained a long list of certifications, including RHCE; Cisco DCUCI, CCNA; CCNP; Checkpoint CCSA, CCSE, CCSI; ITIL (Foundation); NetApp PSA/NDA and EMC.

Contact: Robbie Tarpley Raffish, 443-944-9301

06/09/2017 Company News

Woodland City Council Approves Petition To Prepare Woodland Research Park Specific Plan

City of Woodland

The City of Woodland this week voted unanimously to move forward with preparation of a Specific Plan for Woodland Research and Technology Park, “Woodland Research Park.” On May 18, the Woodland Planning Commission had voted unanimously to recommend that the City Council accept the petition, based on finding the proposed boundaries of the specific plan appropriate and consistent with the policies of the City of Woodland General Plan.

Contact: Marika Rose, 916-601-9737

06/09/2017 Company News

Miller Construction Company Fast-Tracking Flagler Global Locgistics' Countyline Corporate Park Building 1

Miller Construction Company

With Miami-Dade County’s industrial space vacancy rate under four percent, Miller Construction Company is fast-tracking the first spec building in phase one of Flagler Global Logistics’ new Countyline Corporate Park. Scheduled for Fall completion, the 197,427-square-foot, tilt-wall structure at NW 97th Avenue and NW 154th Street, Hialeah, is the first of nine planned buildings in the park’s initial 2.4 million-square-foot phase. Building One offers next-generation industrial space with 32-foot clear ceiling heights, 180-foot building depth and a 180-foot non-shared truck court that includes trailer parking. This is Miller Construction Company’s fifth project for Flagler Global Logistics, bringing the firm’s total space constructed for the developer to over one million square feet. “As we launch Countyline Corporate Park to meet intense demand for new, highly efficient industrial space, Miller’s team gives us the speed to market, expert solutions and proven craftsmanship we need,” said Christopher Sutton, Vice President, Development for Flagler Global Logistics. “By focusing on our company’s best interests, they create value at every stage of a project,” he added. Architect for Countyline Corporate Park Building 1 is Ware Malcomb. The project’s engineering consultants are Langan (civil), DDA Engineers (structural) and Puga and Associates (MEP). With a strategic location at the border of Miami-Dade and Broward counties, Countyline Corporate Park provides quick access to I-75, Florida’s Turnpike and the Palmetto Expressway, as well as Miami International Airport, Port Miami and Port Everglades. The park’s multi-phase master plan includes a total of 8.4 million square feet of industrial space. Founded in 1973, Miller Construction Company is a prominent South Florida design/builder and construction services firm serving industrial, commercial, healthcare, hospitality, educational, retail and multi-family markets. For information:

Contact: Traci Miller, 954-764-6550

06/02/2017 Personnel News

Dewberry Announce the Promotion of Christopher Cirrotti


As the manager of the firm’s Parsippany office, Cirrotti is responsible for managing a wide range of civil engineering projects involving commercial and institutional land development, as well as redevelopment. With more than 28 years of experience, he is an expert in site planning, civil design, stormwater management, roadway and utility infrastructure design, regulatory permitting, low-impact development, and construction management. He has worked on various projects over the years, including the Honeywell global headquarters renovation in Morris Plains, New Jersey, and the Virtua Voorhees Hospital in Voorhees, New Jersey. Cirrotti earned his bachelor’s degree in civil engineering from Rutgers University. He is a professional engineer in Delaware, Connecticut, New Jersey, New York, and Pennsylvania. He is a LEED Accredited Professional BD+C, and a certified municipal engineer and professional planner in New Jersey. He is a member of the Commercial Real Estate Development Association (NAIOP), Healthcare Facilities Management Society of New Jersey, and the American Society of Civil Engineers.

Contact: Sandra Ammar, 703-815-4971

05/24/2017 Deal

Dickson Commercial Group Completes Disposition of Premier Downtown Reno Office Building

Dickson Commercial Group

Reno, Nev. – Dickson Commercial Group, Inc. (DCG) is pleased to announce the successful sale of 1 E. Liberty Street in Downtown Reno. The six-story, 89,000 square-foot office building, commonly known as the U.S. Bank Building, was purchased by 1 Liberty C2K LLC, and was financed by New York Based UBS. Dominic Brunetti, CCIM and Scott Shanks, SIOR represented the seller, Reno-based ownership group One East Liberty LLC, who acquired the property in 2013. Led by local development veteran Blake Smith, the group stabilized the building over a course of four years completing over $4.2 million in renovations and taking the building from 60 percent occupancy to 96 percent occupancy at time of sale. “The acquisition, repositioning and disposition of 1 E. Liberty Street represents multiple northern Nevada economic indicators including occupier demand for Class A office space, the resurgence of the Downtown Reno work environment and national investor confidence in our real estate community,” said Dominic Brunetti. Brunetti and Shanks assisted in the initial acquisition, lease up and disposition. The building closed escrow on May 17, 2017 for $18.3 million. Major tenants include Starbucks, U.S. Bank, Lewis Roca Rothgerber Christie (LRRC), MEDNAX Service, Inc. and Pacific Workplaces. The building features structured underground parking, modern high-end renovations and is located on the major intersection of Downtown Reno’s financial district. “Before, the building had a cold institutional feel,” said Blake Smith. “We succeeded in creating a vibrant, pedestrian-friendly connection between Midtown and the River District.” Dickson Commercial Group (DCG) is a locally owned and operated, full-service commercial real estate firm headquartered in Downtown Reno and serving all of Northern Nevada.

Contact: Chrisie Yabu, 775-686-7437

05/22/2017 Personnel News

Hoffmann Commercial Real Estate Names New CEO

Hoffmann Commercial Real Estate

Hoffmann Commercial Real Estate announced today that it has named Greg Hoffmann as Chief Executive to the company, effective immediately. Mr. Hoffmann has served as a Principal to the company and has been intimately involved with the company’s notable expansions into Naples, FL, Beaver Creek, CO, and the North Shore of Chicago, helping the company grow nearly five times in size since he first started. In addition to his new duties, Mr. Hoffmann sits on the Board of Directors of all of Osprey Capital’s holdings, including DHR International, JobPlex, and Orange Line Oil. Mr. Hoffmann graduated from Miami University with a degree in Finance and Mathematics and also holds an MBA from Northwestern University’s Kellogg School of Management. For more information on Hoffmann Commercial Real Estate, visit

Contact: Creative Marketing Associates, Inc, 847-858-4203

05/21/2017 Deal

QuickLiquidity Funds $6.9 Million of Capital for Tenants-in-Common Roll Up


QuickLiquidity, a leading private equity investment firm providing equity recapitalizations and subordinated debt on commercial real estate, has announced that it has funded $6.9 million of subordinated debt to complete a tenants-in-common roll up. The roll up is on a portfolio of over one million square feet of manufacturing and warehouse facilities spread across the US. The portfolio was initially purchased in 2006 for $28 million, with $10 million invested by 23 separate owners as tenants-in-common (TIC) subject to an $18 million CMBS loan. The properties are all on triple net leases to a publicly traded company until 2030. In 2016 the CMBS loan had an anticipated repayment date. This meant that in the event that the loan could not be refinanced, the existing loan agreement allowed for the portfolios net cash flow was used to pay down the principal balance of the loan. This loan provision is referred to as “hyper-amortization” and is currently in effect. The portfolio was not refinanced in time of the anticipated repayment date because of challenges with finding a lending institution who was comfortable with the TIC structure, and having to obtain consent from all 23 separate owners on the terms of the refinance. The borrower recognized an opportunity to roll up the 23 separate TIC owners into one new entity using IRS code 721. This allows the owners to contribute their TIC interest to a new entity without realizing a capital gain or loss. QuickLiquidity’s subordinated debt will be used to purchase TIC interest from the owners who prefer an immediate exit strategy and liquidity over rolling up. Once the roll up is complete and the new entity owns 100% of the portfolio, the borrower will be able to either refinance the properties which would halt the phantom income and return cash distributions, or sell the properties and distribute the sale proceeds.

Contact: Yoni Miller, 561-221-0881

City of St Albert Marcus Millichap