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.

01/20/2018 Deal

QuickLiquidity Pays $460K for a 2.53% Partial Interest in a 199-Unit Apartment Community

QuickLiquidity

QuickLiquidity, an opportunistic real estate private equity firm investing in commercial real estate nationwide, has announced that for $460,000 it has purchased a 2.53% partial interest in a real estate partnership that owns a 199-unit apartment community in Fairfax, VA. The seller inherited the partial interest over 30 years ago and was seeking an immediate exit strategy from their illiquid and non-controlling interest. “What we love about this property is its historical occupancy, steady income and the continued growth in the Fairfax area real estate market”, said A. Yoni Miller, Principal of QuickLiquidity. “We have a tremendous amount of experience with purchasing and lending against partial interest positions in commercial real estate partnerships which allows us to understand and close complicated transactions quickly.” The seller received a written offer from QuickLiquidity within only days of submitting information about the property and the partnership. Once the offer was signed by the seller it took around three weeks for the sale to be finalized. QuickLiquidity worked with the seller and the managing members of the partnership to ensure the transfer was in full compliance with the partnerships operating agreement. By QuickLiquidity coming in as a new passive investor the seller was able to receive immediate liquidity without having to wait until the partnership decides to sell the property, which might not occur for many years. QuickLiquidity explains that some of the reasons an investor might want to sell their partial interest is either a personal cash-flow pinch, a diversion of interests between the investors, or to simplify the investors tax return and estate planning. When life presents unpredictable situations and liquidity is needed, partial interest owners can turn to QuickLiquidity for an immediate exit strategy. QuickLiquidity is a direct buyer and lender against partial interest positions in commercial real estate LLCs, LPs, TICS, and DSTs.

Contact: A. Yoni Miller, 561-221-0881

01/16/2018 Company News

The Blau & Berg Company Arranges Lease of 50 S. Center Street in Orange, NJ to Grassland Foods

The Blau & Berg Company

The Blau & Berg Company, a prominent commercial real estate brokerage firm in the New Jersey and Tri-State area since 1932, recently brokered the lease of 50 S. Center Street, Unit #11 in Orange, NJ to Grassland Foods, a New York based premium wholesaler of dried fruits and nuts. Michael F. Schipper, Senior Associate of The Blau & Berg Company, was the procuring broker representing the lessee in the transaction.  Grassland Foods was in search of a facility in the NY/NJ metro area with close proximity to ports and commuter rail lines. The location along route 280, adjacent to the Orange, NJ train station and with easy access to route 80, 287 and the NJ Turnpike provided a solution to their needs. A period of rapid sales growth and new product offerings provoked the move from their Long Island, NY location. The Blau & Berg Company negotiated a long-term lease on the 7,271 SF space. “Grassland Foods was seeking to improve its business by relocating near the active port of Newark and its network of transport highways,” stated Michael F. Schipper. “Under new ownership, the facility was restored and updated to allow for cleaner and more efficient workspace and is part of a larger revitalization of the area, making it especially appealing.” About The Blau & Berg Company The Blau & Berg Company (www.blauberg.com) was founded in 1932 and holds a leading position in the New Jersey and Tri-State commercial real estate market. Headquartered in Short Hills, New Jersey, The Blau & Berg Company is an independent, full-service commercial real estate brokerage firm, providing expert and personalized services in industrial, office and retail real estate, including: site selection, acquisitions, dispositions, leasing, tenant representation, portfolio sales, asset repositioning, and property & construction management.

Contact: Whitney Driver-Crimmins, 973-379-6644

01/12/2018 Company News

C.W. Driver Companies Tops Out Hillsdale Shopping Center

C.W. Driver Companies

C.W. Driver Companies, a premier builder serving California since 1919, recently “topped out” the Hillsdale Shopping Center’s North Block Redevelopment. The milestone was marked by the installation of the final steel structural beam, which was painted and signed by Brent Hughes, vice president of operations at C.W. Driver Companies; Robert Webster, CEO and president of Bohannon Development Company/Hillsdale Shopping Center; Larry Ivich, CSM, vice president and general manager of Bohannon Development Company/Hillsdale Shopping Center; Michael Jepsen, director of construction for Bohannon Development Company/Hillsdale Shopping Center; John Biale and Janice Fetzer, directors with G & M Realty Ventures, LLC and the entire project team. One of the largest enclosed shopping centers in the San Francisco Bay Area, the Hillsdale Shopping Center attracts more than 8 million shoppers annually. C.W. Driver Companies’ 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. Led by project executive Corky Silva and senior superintendent Leo O’Brien, the project is expected to be completed in the fall of 2018.

Contact: Jade Terry, 714-263-8752

01/10/2018 Company News

New Members

ALNA Construction Corp.

Contact: William Keller, 201-320-9348

01/09/2018 Deal

Cushman & Wakefield Closes 161,000 SF in Leases at Morris Corporate Center 1 & 2

Cushman & Wakefield

A 42,993-square-foot commitment by Wallenius Wilhelmsen Logistics this fall punctuates a period of active leasing at Morris Corporate Center 1 & 2 in Parsippany. A Cushman & Wakefield office brokerage team led by William O’Keefe, Charles Parmelli and Jackie Madden have orchestrated more than 161,000 square feet in new leases, renewals and expansions at the property to date in 2017. Raymond Trevisan, Executive Managing Director with Cushman & Wakefield, served as tenant broker for Wallenius Wilhelmsen Logistics. The company, which delivers global shipping and logistics solutions for manufacturers of cars, trucks, heavy equipment and specialized cargo, will relocate its U.S. headquarters operation to the property from locations in Bergen and Middlesex counties. “Our site search concentrated in northern Parsippany, which provides an easily accessible, central location for this strategic consolidation,” Trevisan said. “My client wanted a quality building with competitive economics. Morris Corporate Center 1 & 2 was an ideal fit.”

Contact: Evelyn Weiss Francisco, 201-796-7788

01/08/2018 Personnel News

COX, CASTLE & NICHOLSON LLP PROMOTES POWERHOUSE ATTORNEYS IN 2018

Cox, Castle & Nicholson

Cox, Castle & Nicholson LLP, one of the preeminent full-service law firms focused on real estate in the United States, proudly announces the promotion to partner of powerhouse senior counsels Andrea Saunders Rifenbark and Elizabeth A. Willes, effective Jan. 1, 2018. Rifenbark’s and Willes’ deep-rooted experience with joint ventures and other complex real estate transactions enhances the firm’s commercial real estate and institutional investment practices during a dynamic and durable economic growth cycle. Rifenbark began her career at Cox, Castle & Nicholson as a summer associate 15 years ago. Today her institutional investment practice focuses on acquisitions and dispositions as well as domestic and international joint ventures and financial transactions for pension funds and other institutional clients. During her tenure, Rifenbark has worked on many high-stakes matters, including the recent acquisition of a $610 million office park for one of the largest U.S. public pension funds. Willes joined Cox, Castle & Nicholson in 2014 as a senior counsel with more than 20 years of experience in commercial real estate law. She represents real estate owners, investors and developers during all phases of the acquisition, development, management, leasing, financing and disposition of retail, residential (including multi-family and student housing), office and industrial properties. A significant amount of her current practice focuses on the representation of institutional investors and public pension funds in complex joint ventures and fund investment transactions involving hundreds of millions of dollars in commitments.

Contact: Angelyssa Granillo, 909-576-1758

12/18/2017 Company News

Boston Capital Invests in Affordable Multifamily Community for Families in Colorado with Inland Group

Boston Capital

Boston Capital is investing in the construction of Copper Stone Apartments, a 260-unit multifamily development for families in Lafayette, Colorado. Copper Stone Apartments will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. The developer is Inland Group, based in Spokane, Washington. To date, Boston Capital has invested in seven affordable apartment communities in CA, CO and WA with Inland Group, comprising nearly 1,616 affordable apartments.

Contact: Allison E. Marino, 617-624-8678

12/18/2017 Personnel News

Cavignac & Associates Employees Give $18,000 Out of Their Own Paychecks to Local San Diego Charities for Christmas

Cavignac & Associates

In keeping with an 18-year-old Christmas holiday tradition, all 50 employees of Cavignac & Associates, a San Diego-based risk management firm, donated gifts of hope and cheer to those less fortunate in the community, giving a combined $18,000 out of their own paychecks to 11 local nonprofit organizations. The $18,000 worth of holiday donations from Cavignac & Associates’ employees was in addition to the more than $100,000 in corporate contributions and individual donations made by the company’s six principals during 2017.

Contact: Bonnie Kutch, 619-299-1010

12/18/2017 Deal

Onward Investors signs 50,000-square-foot lease with Lockton Affinity at Executive Centre in Overland Park, Kan.

Onward Investors

Onward Investors signs 50,000-square-foot lease with Lockton Affinity at Executive Centre in Overland Park, Kan. KANSAS CITY (December 2017) – Onward Investors, a national commercial real estate investment and development firm, has signed a 50,214-square-foot lease with Lockton Affinity, LLC at Executive Centre II in Overland Park, Kan. Lockton Affinity had been sought by many landlords in the Kansas City market. Minneapolis-based Onward Investors acquires commercial properties in markets throughout the U.S. The Executive Centre property is a three-building, 220,220-square-foot office complex located on I-435, 12 miles south of downtown Kansas City, Mo. The office complex maintains a strong occupancy rate and includes major tenants such as UPS and Maxim Healthcare Services. Onward Investors purchased the Executive Centre in October 2015. The office complex is comprised of two three-story office buildings with underground and surface parking and one two-story office building with surface parking. Each building features two-story lobbies with an abundance of natural light and high-quality finishes. In addition, the property is complemented with mature landscaping and an attractive park-like setting. Since the acquisition, the company has completed extensive property improvements to the building’s interior and exterior, and new site and wayfinding signage. Onward has installed a micro market serviced by Company Kitchen, and is in process of adding a fitness center for the property. Located at 10881-10901 Lowell Avenue in Overland Park, Executive Centre’s complex includes Buildings I and II (each approximately 93,000 square feet); and Building III (approximately 34,000 square feet) and a 4.8/1,000-square-foot parking ratio.

Contact: Gail Shore, 612-770-4106

12/18/2017 Company News

C.W. Driver Companies "Tops Out" Soboba Casino and Resort

C.W. Driver Companies

C.W. Driver Companies, a premier builder serving California since 1919, “topped out” the Soboba Band of Luiseño Indians’ replacement casino and hotel project this Monday, Dec. 11. To mark the milestone of the final beams being put in place, three all-white beams were signed by Tribal Council members, Tribal Administration employees and Soboba Casino employees. Located in San Jacinto, California, the project features a 140,000-square-foot casino including 2,000 slot machines and 24 table games in addition to a six story, 200-room hotel.

Contact: Jade Terry, 714-263-8752

12/14/2017 Company News

C.W. Driver Companies Tops Out Soboba Replacement Casino and Resor

C.W. Driver Companies

C.W. Driver Companies, a premier builder serving California since 1919, “topped out” the Soboba Band of Luiseño Indians’ replacement casino and hotel project this Monday, Dec. 11. To mark the milestone of the final beams being put in place, three all-white beams were signed by Tribal Council members, Tribal Administration employees and Soboba Casino employees. Located in San Jacinto, California, the project features a 140,000-square-foot casino including 2,000 slot machines and 24 table games in addition to a six story, 200-room hotel.

Contact: Jade Terry, 714-263-8752

12/13/2017 Deal

Dermody Properties Leases 401,008 Square Feet in New Jersey to Kenco Logistics

Dermody Properties

Dermody Properties, a national real estate investment, development and management company, specializing in acquisitions and development of logistics real estate, recently leased 401,008 square feet in its LogistiCenterSM at Logan industrial park to Kenco Logistics (Kenco). Kenco specializes in distribution and fulfillment, transportation management, material handling, real estate management and information technology. Kenco will use the new facility, located at 395 Pedricktown Rd., for storage and distribution of their customers’ products. This new facility will accompany 90 other Kenco warehouse locations, and is expected to add 50 new jobs to the region initially. Kenco has leased 401,008 square feet of the building at 395 Pedricktown Rd., and 80,750 square feet remains available for lease. Marc Isdaner, Mark Chubb and Michael Zerbe of Colliers International represented Dermody Properties in the transaction. Vincent Ranalli and William Goodwin of CBRE represented Kenco. The building was designed by Ware Malcomb and Blue Rock construction is serving as the contractor for tenant improvements. Kenco is expected to move into the building in January.

Contact: Chrisie Yabu, 775-686-7437

11/30/2017 Company News

Cavignac & Associates Named Among "Best Places to Work" by San Diego Business Journal

Cavignac & Associates

Cavignac & Associates, a downtown San Diego-based risk management and insurance brokerage firm, recently was named as one of the “Best Places to Work in San Diego.” The annual list of the Best Places to Work in San Diego was created by the San Diego Business Journal and Best Companies Group, with funding from their sponsors Kaiser Permanente and GreenRope. The survey and awards program was designed to identify, recognize, and honor the best employers in San Diego for benefiting the county’s economy, workforce, and businesses. The list is made up of 100 companies divided into four categories: 35 small-sized companies (15-49 US employees), 35 medium-sized companies (50-249 US employees), 17 large-sized companies (250-1,999 US employees), and 13 mega-sized companies (2,000 or more US employees). Cavignac & Associates was named one of this year’s Best Places to Work in San Diego in the small-size company category. “We’re honored to once again be named a Best Place to Work in San Diego and pleased that our employees had good input for the judges,” said Jeffrey Cavignac, CPCU, ARM, RPLU, president and managing principal of Cavignac & Associates. “We realize our employees are spending much of their lives here and a lot of time together, so we do everything we can to make it rewarding and fun.”

Contact: Bonnie Kutch, 619-299-1010

11/29/2017 Deal

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Contact: Devin, 703-624-2945

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