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.

04/16/2018 Personnel News

Dermody Properties Welcomes Kathleen S. Briscoe as Partner, Chief Capital Officer

Dermody Properties

Crosswater Advisors; and served as Chief Operating Officer and Chief Investment Officer for real estate at Cordia Capital Management. “Kathy will be integral to the growth of our investment management business,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “We are delighted to have someone with her experience, skills and personal qualities join the Dermody Properties team.” About Dermody Properties Dermody Properties is a privately owned industrial real estate investment, development and management firm that specializes in acquisitions and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third party logistics and distribution customers. Founded in 1960, Dermody Properties has invested in more than 70 million square feet of industrial space. To learn more about Dermody Properties visit Dermody.com.

Contact: Katie Coleman, KPS3, 775-781-0881

04/15/2018 Company News

Cushman & Wakefield Hires Seasoned Leasing Professional

Cushman & Wakefield

Cushman & Wakefield has hired Brian Decillis as a managing director of its New Jersey brokerage operations, announced Andrew Judd, managing principal and head of Cushman & Wakefield’s New Jersey region. Based in Cushman & Wakefield’s Morristown office and working in partnership with industry-recognized veterans Robert Donnelly Sr. and Rob Donnelly, Jr., Decillis will focus on agency leasing, tenant representation and multimarket account work.

Contact: Evelyn Weiss Francisco, 201-796-7788

04/11/2018 Company News

C.W. Driver Companies’ Brent Hughes Moves Up The Ranks to Vice President of Operations

C.W. Driver Companies

C.W. Driver Companies, a premier builder providing general contracting and construction management services in California since 1919, today announced the promotion of Brent Hughes to vice president of operations. In Hughes’ new capacity, he will oversee projects in the retail, commercial, office, hospitality and gaming, mixed-use and entertainment industries in addition to spearheading signature projects across California. He also will provide leadership and guidance for project teams to ensure they are equipped with the resources needed to see projects through from construction to completion. “Brent has brought immense value to every project he has been on, and we are looking forward to seeing the impact and breadth of his leadership expand even further in his new role,” said Dana Roberts, chief executive officer. “His impressive track record, as evidenced by a host of industry recognitions, make him an invaluable member of the team.” Hughes has more than 20 years of construction experience, with projects spanning commercial, offices, resorts, casinos, hotels, parking structures and more. He has served as a critical team member of notable company projects including Soboba Band of Luiseño Indians’ new casino and resort; Hollywood Casino Jamul; Hillsdale Shopping Center, North Block Redevelopment and multiple projects for Qualcomm. Hughes boasts a host of industry recognitions including the Builder’s Choice Merit Award for 16th & Market Workforce Apartments; DBIA’s National Design-Build Excellence Award for Quechan Casino Resort; and the Structural Engineers Association of San Diego’s Landmark Structures Excellence Award for QUALCOMM’s world headquarters. Named Associated Subcontractors Alliance (ASA) Project Manager of the Year, Hughes holds a bachelor’s degree in construction management from California State University, Fresno. He is based in San Diego.

Contact: Jade Terry, 714-263-8752

04/10/2018 Deal

Cushman & Wakefield Orchestrates Sale of Monmouth Shores Corporate Park

Cushman & Wakefield

Cushman & Wakefield has arranged the trade of Monmouth Shores Corporate Park, an eight-building office/flex complex totaling 400,000 square feet in Wall Township, N.J. Monmouth 2 LLC, an affiliate of BHN Associates, purchased the asset from Mack-Cali. Monmouth Shores Corporate Park is one of the largest business parks in the region and is situated along Campus Parkway, Wyckoff Road and Highway 34 in Wall Township. The Park was 88 percent leased to 24 tenants at the time of sale and is comprised of five single-story flex assets and three office buildings. Cushman & Wakefield’s NJ investment team members, including Andy Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Frank DiTommaso, represented the seller.

Contact: Evelyn Weiss Francisco, 201-796-7788

04/06/2018 Company News

CapRock Partners Sponsors CapRock Cup for Third Year at NAIOP SoCal YPG Case Competition

CapRock Partners

Industrial real estate investment firm CapRock Partners sponsored the CapRock Cup for the third year at NAIOP SoCal Young Professionals Group’s (YPG) annual case competition. The competition is a culmination of the YPG Class’ 12-month, 70-hour course designed to educate, develop, connect and elevate the commercial real estate industry’s emerging leaders. CapRock Partners celebrates a longstanding relationship with YPG. In addition to serving as a multi-year sponsor of the CapRock Cup, many of the firm’s executives and employees have also participated and held leadership positions in the program. The last two years, Jon Pharris, CapRock’s president and a former YPG alumnus, judged the competition and this year Patrick Daniels, CEO, served on the panel. In attendance were Robert O’Neill, senior vice president of acquisitions, and Taylor Arnett, vice president of acquisitions. In addition, Russell Fenton, CapRock’s director of development, will be in next year’s YPG class. “It’s inspiring to see the efforts and passion that each of the teams put into this program, and learn more about the contributions they make to the industry as a whole,” said Daniels. “Many of them entered real estate during the recession, which was of course an extremely tough time for the industry, and it’s incredible to see how resilient they’ve been in good times and bad. CapRock Partners is proud to support YPG SoCal in its efforts to give back and forge longstanding connections amongst the next generation of commercial real estate leaders.” This year’s winning team, “The Deck,” includes Mike Adams, Stream Realty; Thomas Lawless, Hines; Cooper Dodd, JPMorgan Chase & Co; Carly Naples, Business Finance Capital; Blake Meister, Westcap Corp.; Lindsey Barr, Cox Castle & Nicholson; and William DeLaney, Bixby Land Company.

Contact: Jade Terry, 714-263-8752

04/05/2018 Deal

Cushman & Wakefield Arranges Three-Building Sale in Basking Ridge, NJ

Cushman & Wakefield

A three-building office park in Basking Ridge has traded in a sale orchestrated by Cushman & Wakefield’s East Rutherford, N.J., investment sales team. Cranford, N.J.-based Signature Acquisitions purchased 106, 110, and 150 Allen Road from The Silverman Group. The assignment was led by Cushman & Wakefield’s Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer and Frank DiTommaso II. Located immediately off of I-78 at Exit 33, the Park totals 524,260 square feet throughout three, four-story buildings. The Class-A buildings were acquired in three separate transactions since 2010 and have been rebranded as The Offices at Liberty Corner. Each of the buildings caters to a range of tenant sizes and uses, featuring renovated common areas, covered parking options, on site food service, extensively landscaped grounds and outdoor seating areas.

Contact: Evelyn Weiss Francisco, 201-796-7788

04/03/2018 Personnel News

Jonathan Elder Joins Anderson & Kreiger LLP

Anderson & Kreiger LLP

Jon has over a decade of experience representing general contractors, subcontractors, owners, businesses, and individuals in a wide range of construction matters including claims related to design defects, delays, incomplete and disputed work, public bidding and bid protests, and contract negotiation. He also advises construction clients in connection with compliance-related issues on publicly-funded projects, including Disadvantaged Business Enterprise (DBE) compliance, False Claims Act violations, and other legal and regulatory matters associated with state and federal contracting. Outside the office, Jon is on the Program Advisory Committee for the Associated General Contractors of Massachusetts and is a member of the Board of Directors for the Construction Financial Management Association of Massachusetts. Jon joins a growing Construction group at Anderson & Kreiger representing public and private clients in transactional and related litigation matters. Our construction group works hand-in-hand with our litigation, municipal, airport and environmental groups to provide our clients with sophisticated and efficient counsel on projects big and small and in front of local, state and federal proceedings. Managing Partner Dave Mackey said, “We are thrilled that Jon has chosen to join us and strengthen our ability to serve our clients in a range of transactional and litigation matters.”

Contact: Katelyn Smith , 617-621-6519

04/02/2018 Deal

Lee & Associates Arizona sells Tuft & Needle Headquarters  building in Phoenix for $8.73M

Lee & Associates Arizona

April 2, 2018 – PHOENIX — Lee & Associates Arizona announced today that the Fincham Dempsey Team has arranged the sale of the Tuft & Needle Corporate Headquarters and retail showroom building for $8.73 million. Jan Fincham and Patrick Dempsey facilitated the transaction on behalf of the seller, SimonCRE Chisum III, an entity of Scottsdale-based developer SimonCRE. The buyer, Retail Realty Fund was represented by Property Group International. Located in Downtown Phoenix at 701 N. Grand Ave., the 36,000-square-foot historic building was originally constructed in 1917 and served as home to the O.S. Stapley hardware store, which closed in 1962. The property was purchased in 2012 by SimonCRE, and was renovated as an adaptive re-use creative office space for the headquarters of Tuft & Needle, a Phoenix-based e-commerce and manufacturing company founded by Daehee Park and John-Thomas Marino. “The Tuft & Needle building was attractive to the investor because of the quality adaptive re-use renovation by SimonCRE, the stability of a long-term lease to nationally recognized tenant Tuft & Needle, and the location in the heart of the vibrant Downtown Phoenix Redevelopment Area,” said Fincham. “This sale really shows the strength of the Grand Avenue District and the demand in the area,” said Joshua Simon, Founder and CEO of SimonCRE. “We’re hoping that this district begins to emerge as a vibrant hub similar to Roosevelt Row.” Between 2004 and 2017 more than $5 billion of private and public capital was invested in Downtown Phoenix, creating a vibrant urban core with a revitalizing live-work-play environment that attracts about six million visitors to the area’s arts, sports, cultural, hospitality and entertainment venues each year.

Contact: David McGltohlin, 623-670-2430

04/02/2018 Personnel News

Ryan Companies Announces Promotion of Molly Ryan Carson to Senior Vice President of Real Estate Development, Market Leader

Ryan Companies.com

Ryan Companies Announces Promotion of Molly Ryan Carson to Senior Vice President of Real Estate Development, Market Leader PHOENIX, AZ (April 2, 2018) Ryan Companies US, Inc. Southwest Region announced today the promotion of Molly Ryan Carson to Senior Vice President of Real Estate Development, Market Leader. Ryan Carson has been a central leader in a number of high-profile projects in the region such as GoDaddy, McKesson, AMKOR Technology and Farmers Insurance. In her new role, Ryan Carson will lead business development and real estate development for Ryan’s Southwest region. “Molly is well known for her strong relationships and active involvement in the local real estate community,” said Rick Collins Regional President Ryan Companies “She is a consistent model of and reinforces Ryan’s culture of excellence and commitment to our customers.” Ryan Carson will continue to serve as National Executive Committee board member for NAIOP, Vice Chairperson of NAIOP Arizona, development advisory board member for the City of Phoenix and board member for Valley Partnership and Xavier College Preparatory. About Ryan Companies US, Inc. Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. Ryan market depth includes retail, industrial, healthcare and senior living. Ryan development and corporate build-to-suit work spans a wide range of product types including office, mixed-use, hospitality, multifamily housing and mission critical facilities. Ryan has nearly 1,300 employees in 15 offices and has completed projects in 38 states. For more information, visit ryancompanies.com ###

Contact: Kathy Jalivay, 612-492-4630

03/30/2018 Company News

Prism Inks Nearly 65,000 SF in Leasing Activity at P3 Properties’ BroadAcres Office Park

Prism Capital Partners

With nearly 65,000 square feet in new leases and tenant renewals, BroadAcres Office Park is nearing 90 percent occupancy, according to Prism Capital Partners, exclusive leasing and managing agent. The milestone comes one year after P3 Properties assumed ownership of the landmark, 380,000-square-foot campus in Bloomfield; at the time, occupancy was 72 percent. Prism Capital Partners, which is headquartered onsite at BroadAcres Office Park, represented P3 Properties in seven recent long-term and multi-year transactions.

Contact: Evelyn Weiss Francisco, 201-796-7788

03/29/2018 Company News

Prism Inks Nearly 65,000 SF in Leasing Activity at P3 Properties’ BroadAcres Office Park

Prism Capital Partners

With nearly 65,000 square feet in new leases and tenant renewals, BroadAcres Office Park is nearing 90 percent occupancy, according to Prism Capital Partners, exclusive leasing and managing agent. The milestone comes one year after P3 Properties assumed ownership of the landmark, 380,000-square-foot campus in Bloomfield; at the time, occupancy was 72 percent. Prism Capital Partners, which is headquartered onsite at BroadAcres Office Park, represented P3 Properties in seven recent long-term and multi-year transactions.

Contact: Evelyn Weiss Francisco, 201-796-7788

03/26/2018 Company News

Vision Real Estate Partners/Rubenstein Partners Ink Twin Office Acquisitions in Parsippany, N.J.

Vision Real Estate Partners

A pair of acquisitions by Vision Real Estate Partners and Rubenstein Partners continues this joint venture partnership’s commitment to the Morris County office market. In separate transactions, the firms recently purchased Phases I and II of the former Morris Corporate Center IV, amassing nearly 700,000 square feet of Class A product on Interpace Parkway in Parsippany. Hallmark to this joint venture partnership, an extensive capital and rebranding campaign will be quickly implemented for the twin, trophy-quality assets. Each includes two interconnected buildings ideally located on a total of 30 acres at the four-way I-80/I-287 interchange. The buildings are distinguished by their timeless granite architecture, highly efficient floorplates and amenities – including recently upgraded cafes and fitness centers. The ambitious capital improvement program will increase indoor and outdoor amenity space throughout the campus, and expand parking with a town-approved parking structure.

Contact: Evelyn Weiss Francisco, 201-796-7788

03/22/2018 Personnel News

Nutter Partner Paul Ayoub Voted In As Next Board Chair for Greater Boston Chamber of Commerce

Nutter

Please see full release here: https://www.nutter.com/trending-newsroom-news-4642

Contact: Heather Merton, 617-439-2166

03/21/2018 Personnel News

Liberty Property Trust Promotes Megan Creecy-Herman to Vice President, Market Leader in Arizona

Liberty Property Trust

Liberty Property Trust today announced that it has promoted Megan Creecy-Herman to the position of vice president, market leader. She will run the company’s industrial portfolio in Arizona. Liberty Property Trust’s current portfolio in the state consists of approximately 2.5 million square feet of industrial properties, with another 280,280 square feet currently under construction, and 140 acres of land for future industrial development. Creecy-Herman joined Liberty in 2012 as director of leasing and development and was promoted to vice president in 2016. In 2014, she was elected as chairperson of the National Association of Commercial Real Estate Development’s Arizona Chapter, serving as both the first-ever female and youngest person in that position. A year later she received the prestigious national award for “Chairperson of the Year” from NAIOP. She is a previous member of the NAIOP national executive committee and a current member of the national board of NAIOP. Liberty is preparing to sell its office properties in the region, including those at Liberty Center at Rio Salado, the approximate 682,406 square foot office park Creecy-Herman helped to develop between 2012 and 2018. (Liberty will continue to own 215,000 square feet of industrial property it developed and now manages in Rio Salado.) Prior to joining Liberty, Creecy-Herman was at EJM Development Co. in Phoenix, serving in leasing, acquisitions and development capacities. She earned a Bachelor of Science Degree in Business from Arizona State University and an MBA from the University of Arizona. Creecy-Herman succeeds John DiVall, a 20-year veteran of Liberty Property Trust, who established and served as market leader of the Arizona office. Liberty was named NAIOP’s Owner/Developer of the Year in both 2014 and 2017. The company owns more than 2.5 million square feet of industrial space in the market as well as approximately 140 acres of land for development in Phoenix and Goodyear.

Contact: Jen Meyer, 201-914-9957

03/21/2018 Personnel News

FORT CAPITAL APPOINTS TWO NEW DIRECTORS IN MULTIFAMILY AND MARKETING DIVISIONS

Fort Capital

Fort Worth-based real estate development and investment firm, Fort Capital, has expanded its team to include a managing director of multifamily, Patrick Pine, and a new marketing director, Abby Osvog. As managing director of Fort Capital’s multifamily division, Patrick Pine will focus on enhancing growth through the acquisition and repositioning of value-add multifamily portfolios, and the development of ground-up multifamily and mixed-use developments. As director of marketing, Abby Osvog will be responsible for all marketing efforts, including brand management and strategy, content development, social media, website management, property marketing, and public relations. “I’m thrilled to welcome such bright, ambitious talent to Fort Capital,” said Chris Powers, CEO and founder of Fort Capital. “Patrick’s experience is going to completely revamp the multifamily division, and Abby has brought a new contagious energy to the team. Fort Capital is posed to do great things in 2018, and the expansion of our team is going to really pour gas on that fire.”

Contact: Brenna Jefferies, 817-546-8339

03/20/2018 Personnel News

Real Estate Attorney Mark Block Returns to MMM as Partner

Morris, Manning & Martin

Respected commercial real estate attorney Mark A. Block has joined the Atlanta office of Morris, Manning & Martin as a partner. Block will practice in the in the Real Estate Development & Finance and Real Estate Capital Markets groups. He was previously a partner at Seyfarth Shaw. His national and international client base includes real estate investment trusts (REITs), development companies as well as companies that acquire and manage office and industrial properties. He has represented some clients for decades. Block originally worked at MMM. He chose to return, in part, because of the firm’s reputation, as well as the tax, environmental and corporate support it will provide his clients. “It was a good time to make a move,” he said. He always felt an attachment to MMM, and even still has his original business card. “We never broke up; we just took a 30 year vacation,” he jokes. “We are glad to have Mark back,” said MMM Managing Partner Louise Wells. “His practice fits perfectly within our strong real estate team. Many of our lawyers have worked across the table from him over the years and the mutual respect is evident. Mark is known for his dealmaking skills, particularly in acquisitions and sales, joint venture agreements and refinancings.” Block is a member of the National Association of Industrial and Office Properties (NAIOP.) Honors include being ranked in Chambers & Partners Best Lawyers for Business and The Best Lawyers in America©. Morris, Manning & Martin (www.mmmlaw.com) is an AmLaw 200 law firm with national and international reach.

Contact: Terri Thornton, 404-932-4347

03/14/2018 Company News

Record Setting Deal Concludes in Loudoun County

Calkain

Edwards Ferry Crossing, a multi-tenant retail center located at 1008 Edwards Ferry Road in Leesburg, VA, traded hands this week, setting new records for a net lease sale in Loudoun County. The three-tenant center, fully leased to Potbelly Sandwich Shop, Great Clips and Panda Express, sold for $4.82 Million, achieving $925 PSF and a cap rate of 5.47%. Calkain’s Jonathan Hipp and Natalia Nunno represented the seller in the transaction. As arguably one of the most prominent retail locations in all of Loudoun County, J Donegan Co. carefully selected this location for development. The center sits adjacent to Chick-fil-A in the Target, Kohl’s and Costco anchored center highly visible from Route 15 Bypass. “We were extremely excited to purchase this undeveloped pad site, and were confident Calkain would again help us maximize the value of our asset,” stated Jay Donegan, the company’s founder. It wasn’t too long ago that Calkain teamed with J Donegan Co when they developed a CVS in Tysons, and Calkain set record highs in that transaction as well.

Contact: Traci Bidinger, 703-935-0947

03/14/2018 Company News

Cushman & Wakefield Closes Meadowlands’ Largest Industrial Deal in Years as Bergen Logistics Leases 299 Thomas E. Dunn Memorial Highway

Cushman & Wakefield

Continued growth at Bergen Logistics has spurred the largest Meadowlands industrial deal since mid-2016, as Cushman and Wakefield acted on behalf of the full-service logistics and order fulfillment company to close a new lease for 404,000-square-feet of a fully automated distribution center at 299 Thomas E. Dunn Memorial Highway, in Rutherford, N.J. Based in North Bergen, NJ, Bergen Logistics utilizes technology, automation and robotics to service consumer products brands, in the fashion, apparel, cosmetics and other lifestyle sectors. The long-term lease of the recently renovated Murray Metro Distribution Center closed in December and was handled by Cushman & Wakefield Director Bonni Heller from the East Rutherford office. Landlord Murray Construction Company, Inc. was represented in house by Michael Nachtome, COO, and by CBRE Executive Vice President and lead broker Thomas Monahan and his team.

Contact: Evelyn Weiss Francisco, 201-796-7788

03/14/2018 Company News

Boston Capital Invests in Affordable Multifamily Community for Seniors in Portland, Maine with Community for Seniors in Beaumont, TX

Boston Capital

Boston Capital is investing in the construction of Old Dowlen Cottages, a 72-unit multifamily development for seniors ages 55 and older in Beaumont, Texas. The developer is Herman & Kittle Properties, Inc., based in Indianapolis, IN. Located 85 miles east of Houston, Old Dowlen Cottages will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Boston Capital's investment in this development adds 62 affordable homes to its apartment portfolio. To date, Boston Capital has invested in nearly 23,000 affordable apartments in Texas. "We are excited to team up with Jeff Kittle and Herman & Kittle Properties in the construction of 72 affordable homes for seniors in the Beaumont area," said Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital. "We are seeing a strong demand for affordable housing for seniors in Hurricane Harvey-affected areas, and we're eager to address this demand and help seniors in need of quality housing."

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

03/09/2018 Company News

Vision Real Estate Partners Inks Nearly 300,000 SF in Recent Leases

Vision Real Estate Partners

Nearly 300,000 square feet in leasing activity over the past 12 months throughout the Vision Real Estate Partners portfolio reflects sustained demand for quality Northern and Central New Jersey office space. The Mountain Lakes-based firm currently owns or operates more than 6 million square feet of existing Class A product in the regional market. “We are seeing stepped-up leasing involving tenants making flight-to-value and quality opportunities, and significant renewal activity at properties that are positioned to offer collaborative, experiential workplaces that best appeal to today’s workforce demands,” noted Vision Real Estate Partners’ Sam Morreale, founder and managing partner. As part of its 12-month volume, Vision Real Estate Partners orchestrated several large, long-term transactions.

Contact: Evelyn Weiss Francisco, 201-796-7788

03/09/2018 Deal

Cushman & Wakefield Arranges Avenel, N.J., Industrial Property Sale

Cushman & Wakefield

Multiple rounds of bidding and a combined $65 million sale price for two industrial buildings in Avenel reflect continued strong investor demand for Class A product in New Jersey’s Port submarket. Cushman & Wakefield’s East Rutherford, N.J.-based investment sales team orchestrated the trades of 191 Blair Road and 215 Blair Road from Sitex Group to Barings Real Estate on behalf of an institutional investor. Located at Exit 12 of the N.J. Turnpike/I-95, the sales included a fully-renovated, 175,182-square-foot building and a newly constructed, 198,854-square-foot building. Both structures were unoccupied at the time of marketing. “These vacant-forward sales demonstrate the sustained appeal of well-located industrial product in our region,” noted Cushman & Wakefield investment specialist Gary Gabriel, who represented the seller and procured the buyer with Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt and Andrew MacDonald.

Contact: Evelyn Weiss Francisco, 201-796-7788

03/09/2018 Deal

R.D. Olson Construction Breaks Ground on AC Hotel by Marriott in El Segundo, California

R.D. Olson Construction

R.D. Olson Construction, an award-winning general contracting firm in California, commenced construction on the AC Hotel by Marriott, a 98,728-square-foot property located at 2130 Maple Ave in El Segundo, California. The ground-up construction will feature European-inspired rooms and meeting spaces that are designed with the contemporary traveler in mind. Situated in a newly developed office park near the Los Angeles Lakers training facility, the six-story AC Hotel will consist of 180 guest rooms, a 24-hour fitness center, meeting rooms and a host of outdoor spaces including the first rooftop bar and lounge in the area. The property is also in close proximity to the Los Angeles International Airport and walking distance to The Campus El Segundo Athletic Fields. “We are excited to embark on this new partnership with the Welcome Group, Inc. to bring a project to fruition that seamlessly blends unique experiences with the needs of Millennial and entrepreneurial guests,” said Bill Wilhelm, president of R.D. Olson Construction. “This groundbreaking marks our second AC Hotel and reflects our longstanding partnership with Marriott, which has enabled us to work on visionary projects in California and beyond.” The hotel boasts an array of onsite amenities including AC Kitchen, a European-inspired restaurant serving sweet and savory breakfast options and The AC LoungeSM, a coworking space by day and social venue by night, complete with hand-crafted cocktails, craft beer and tapas-style plates. R.D. Olson Construction is working with the Welcome Group, Inc., AXIS/GFA Architecture + Design, Design Force Corporation and Robison Engineering, Inc. on the project. Completion is anticipated for spring 2019.

Contact: Angelyssa Granillo, 909-576-1758

03/08/2018 Company News

LGE Design Build announces Wayne Bell as president

LGE Design Build

LGE Design Build, Phoenix, announced today that Wayne Bell has joined the executive leadership team as president, marking a landmark event in the firm’s 24-year history by transitioning its leadership to this position. In the role, he will be responsible for executing the ongoing vision of LGE, as well as shaping the future growth plans of the company. David E. Sellers will now dedicate his focus as CEO of LGE Design Build in overseeing the strategic vision of the company. Bell brings more than 23 years of leadership experience to LGE Design Build, a multi-disciplinary design and construction firm, with the majority of that experience acquired in the construction industry. Bell left ACE Asphalt after 13 years as their president/CEO, and held other roles during that time. He was responsible for leading their growth through market expansion, the introduction of new services and acquisitions. He brings his experience in sales, marketing, operations, and process improvement with the intention of leveraging LGE Design Build’s Valley reputation with a focus on growth and scalability to meet expanding market sectors and future geographies.

Contact: Danielle Feroleto , 602-314-5549

03/05/2018 Company News

C.W. Driver Companies Promotes Richard Freeark to Chief Operating Officer

C.W. Driver Companies

C.W. Driver Companies, a premier builder serving California since 1919, has promoted Richard Freeark, LEED AP®, to chief operating officer (COO), the company announced today. As COO, Freeark is responsible for the company’s operational oversight and client satisfaction for projects statewide, including training and performance strategies, contract negotiations, staffing, scheduling, financial controls, reporting and closeout for all projects. “Richard has been invaluable to the success of C.W. Driver Companies over the years, and his leadership adds tremendous value to our company, now and into the future,” said Dana Roberts, chief executive officer. “His steadfast commitment to his team and clients, diligence in getting every detail right and strong desire to exceed expectations shines through on every project in which he is involved.” With nearly four decades of construction industry experience, Freeark has spearheaded major projects for C.W. Driver Companies including the University of California, Irvine Alumni Center; Alpine Branch Library; Ramona Branch Library; Fallbrook Branch Library; Belmont Village’s Belmont Senior Living Westwood; Cedars-Sinai Medical Center’s Steven Spielberg Building Wet Lab; Valley Presbyterian Hospital; Kaiser Medical Center Riverside; Qualcomm’s SAN.Q Addition and Hollywood Casino Jamul. He also plays a key role on a host of higher education and K-12 projects across California. Prior to the COO role, Freeark served as senior vice president of C.W. Driver Companies. “In my 15 years at C.W. Driver Companies, I continue to be extremely impressed with the caliber of work the company touches across a wide range of industries,” said Freeark. “I am honored to take on this new role as the company continues to excel in markets throughout California with a diverse project portfolio.” Freeark holds a bachelor’s degree in business management and finance from California State University, Northridge. He is based in San Diego.

Contact: Jade Terry, 714-263-8752

03/01/2018 Deal

Cushman & Wakefield Arranges Sale of Morris Corporate Center IV, Phase I

Cushman & Wakefield

Cushman & Wakefield has arranged the sale of Morris Corporate Center IV, Phase I, from a partnership of Northwestern Mutual and SJP Properties to a joint venture of Vision Real Estate Partners and Rubenstein Partners. The commercial real estate services firm’s East Rutherford, N.J.-based investment sales team represented the seller and procured the buyer in the trade of this trophy-caliber Parsippany office asset. The property sits on 14 acres at 389 and 399 Interpace Parkway. Its two interconnected, four-story buildings total 340,000 square feet and currently are 71 percent occupied by four tenants – including anchors Reckitt Benckiser, Inc. and Skanska USA Building, Inc. “This best-in-market, headquarters-quality property offers in-place, financeable cash flow combined with upside via lease-up,” noted Cushman & Wakefield’s David Bernhaut, who headed the assignment with investment sales team members Andrew Merin, Gary Gabriel, Brian Whitmer and Andrew MacDonald, along with leasing specialist Bill Brown. “Located at the confluence of Interstates 80 and 287, and Routes 46 and 202, it provides convenient local and regional access, with proximity to retail and hotel amenities, and a wide range of executive and workforce housing alternatives.”

Contact: Evelyn Weiss Francisco, 201-796-7788

02/28/2018 Deal

Cushman & Wakefield Inks Upper 287 Corridor Industrial Sale

Cushman & Wakefield

A two-building industrial asset in Franklin Twp. has traded in a $15 million sale orchestrated by Cushman & Wakefield’s East Rutherford, N.J., investment sales team. Greek Development purchased 400 & 500 Apgar Drive from High Street Realty; the 170,500-square-foot, “last-mile” asset is 91 percent occupied by 11 tenants. The institutional-quality property garnered notable investor interest, according to Cushman & Wakefield’s Gary Gabriel, who represented the seller and procured the buyer with team members Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt and Andrew MacDonald, supported by industrial leasing specialist Andrew Siemsen. “400 & 500 Apgar Drive are strategically located within a mixed-use business park less than one mile from I-287 Exit 12, offering exceptional labor access and proximity to the New Jersey Turnpike/I-95 and the East Coast’s largest port,” Schmidt noted. “This property historically has enjoyed high occupancy and tenant retention rates. It offers stable cash flow and upside via increasing rents to market and leasing two vacant units.”

Contact: Evelyn Weiss Francisco, 201-796-7788

02/24/2018 Deal

Kiddar Capital Acquires Herndon Metro Landing Site

Kiddar Capital

Private equity firm Kiddar Capital, founded by Washington, D.C. investor Todd Hitt, announced today that it has acquired 575 Herndon Parkway, the landing site for the platform of the WMATA Herndon Silver Line station. The 4.8-acre property is improved by a 135,102 square foot office building primarily occupied by Booz Allen Hamilton. The acquisition by Kiddar’s Real Estate Group was financed by Eagle Bank and brokered by Colliers International. The metro landing site at 575 Herndon Parkway is a cornerstone of the planned Transit-Oriented Core, a 38-acre urban-style district which takes advantage of the new Silver Line infrastructure with mixed-use locations, open spaces, and a retail and entertainment core along a wide pedestrian promenade bordering the property at 575 Herndon. The WMATA Herndon Silver Line station is scheduled to be finished in the first quarter of 2020. Kiddar Capital intends to hold the property for a term of no less than three and no more than ten years before redeveloping the site.

Contact: Kathryn Darling, 202-313-8158

02/23/2018 Company News

C.W. Driver Companies Completes $63M Biola University Center for Science, Technology & Health

C.W. Driver Companies

Award-winning California builder C.W. Driver Companies today announced the completion of the $63 million Alton and Lydia Lim Center for Science, Technology and Health at Biola University in La Mirada. The 91,200-square-foot educational center will serve the institution’s fast growing and high-demand science, technology and health programs, and triples the amount of space devoted to these fields at the university. The expansive new facility, which marks the university’s most ambitious building project to date, boasts sustainable features throughout to optimize energy and water use efficiency. “It was an honor to partner with the leadership team at Biola University and Gensler to construct an all-new, state-of-the-art educational facility that enhances teaching and research space for the next generation of science and healthcare professionals,” said Tom Jones, project executive at C.W. Driver Companies. “With our extensive experience constructing a wide-range of educational facilities, especially science and technology buildings, we are proud to be a part of this next chapter for science education at Biola.” Comprised of four floors with learning space in, around and on top of the building, the lower level is home to the nursing program and vibration sensitive labs. The first floor is dedicated to anatomy and biology, the second floor to biology and physics and the third floor to chemistry. To maximize space and complement the university’s developing botany program, the rooftop features an observatory with an on-site greenhouse.

Contact: Jade Terry, 714-263-8752

Jones Lang LaSalle