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.

06/13/2019 Company News

Dermody Properties Acquires Prime Logistics Real Estate in New Jersey

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has acquired a logistics building at 150 Milford Road in East Windsor, N.J. The project has 615,000 square feet currently available for lease that will be ready for occupancy by 2020 after Dermody Properties completes building upgrades. The building is less than a mile away from the New Jersey Turnpike and Route 33 and boasts an abundant nearby labor pool. It is centrally located and within 45 miles of Newark Liberty International Airport, Port Newark and Port Elizabeth. “This location provides direct access to Exit 8 of the New Jersey Turnpike,” said Eugene Preston, East Region Partner for Dermody Properties. “The building represents one of the largest blocks of available space in the Central New Jersey industrial market.” The building, located on 51.49 acres, was originally built in 1998 with a warehouse expansion added in 2003. The building features 28 trailer parking positions, 413 car parking stalls, 41 dock doors, two drive-in doors and a 36-foot clear height in the warehouse addition, making it well-suited for ecommerce operations. “This new acquisition fits well with Dermody Properties’ strategy to procure logistics real estate in key markets across the nation,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “The asset provides an opportunity for our customers to grow their logistics network in one of the tightest submarkets in the country.” Mindy Lissner and Steven Beyda of CBRE are the exclusive listing agents for this property.

Contact: Chrisie Yabu, 775-686-7437

06/12/2019 Personnel News

Extensia Financial Continues Expansion of Lending Team, Hires Commercial Real Estate Business Development Officer

Extensia Financial

Extensia Financial, one of the nation’s premier credit union service organizations (CUSO) specializing in commercial real estate lending nationwide, announces the addition of real estate finance professional Jan Hood as its newest business development officer. With over 20 years of commercial real estate lending experience, Hood is positioned to help expand Extensia’s lending footprint and leverage one of the most established credit union lending and loan participation platforms nationwide. “Jan’s background and network of commercial real estate borrowers and brokers align with our ongoing expansion goals,” said Craig Page, Extensia’s president and CEO. “Jan possesses not only commercial real estate insight and market knowledge but also the underwriting experience necessary to recognize whether or not the loan will work for our credit union customers.” Hood is a former vice president at George Smith Partners, where she helped to establish a successful northwest commercial real estate lending office. She also worked as an independent commercial mortgage banker and broker for over 10 years. An active member of her community, Hood serves as executive board member for Alaska Housing Initiatives, Inc., a nonprofit assisting various homeless, low-income and disabled populations. She completed her master’s degree in Business Administration at Golden Gate University and earned a Bachelor of Arts in Finance and Marketing at the University of Oregon. “Extensia’s ability to originate, participate and service loans for the credit union industry in a customer-centric manner blends well with the customers and clients with whom I have worked over the past two decades,” said Hood. “I believe that we will be able to make a tremendous impact in the Pacific Northwest and nationwide, and I’m excited to help Extensia continue on its growth trajectory.”

Contact: Nicole Deermount, 949-274-3855

06/11/2019 Personnel News

Dermody Properties Hires Gill Shaw as Senior Vice President of Development in Southeast Region

Dermody Properties

Dermody Properties announces that Gill Shaw, an industrial real estate development veteran with extensive experience in construction management, engineering and warehouse/distribution projects, has been hired as Senior Vice President of Development in the Southeast Region. Dermody Properties is a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector. Shaw will be based in the Atlanta, Ga. office and will be responsible for providing due diligence, design, entitlement, budget and construction oversight for both investment developments for lease and build-to-suit projects. He most recently served as Vice President of Construction at McDonald Development Company. Prior to that, he served as Vice President of Construction and Corporate Sustainability at IDI Gazeley North America. Throughout his career, he has overseen development of approximately 1,100 acres of industrial property and managed the construction and development of 63 warehouse/distribution facilities and other light industrial projects totaling more than 11.2 million square feet. Additionally, he managed the construction of 177 tenant finish projects totaling over 8.7 million square feet. In each of these roles, Shaw also oversaw the design and construction teams to ensure on-time and on-budget delivery of all projects. Shaw holds both a bachelor’s and a master’s degree in civil engineering from Penn State University. He is a registered professional engineer in both Georgia and Pennsylvania and is LEED AP accredited. Dermody Properties is actively looking for investment and acquisition opportunities in the Southeast Region.

Contact: Chrisie Yabu, 775-686-7437

06/07/2019 Company News

MVE + PARTNERS EARNS FIVE COVETED GOLD NUGGET AWARDS AT 2019 PCBC®

MVE + Partners

MVE + Partners, a leading architecture, design and planning firm continues its 45-year history of developing innovative design solutions by earning five Grand Awards, aka Gold Nugget Awards, for two of its multi-family projects, The Residences at Pacific City and The Griffin on Spring at the 2019 PCBC® Gold Nugget Awards Ceremony, including the prestigious Grand Award for the Best Multi-Family Community of the Year. “We thank our clients UDR and Holland Partner Group for entrusting MVE with the opportunity of designing their projects, engaging our teams, consultants and builders in a collaborative process that realizes built work that inspires,” said Matthew McLarand, president and director of design, MVE + Partners. The Residences at Pacific City: Designed by MVE + Partners for developer UDR, The Residences at Pacific City was named Grand Award winner in four categories: Multi-Family Community of The Year, Best Recreational Use Facility – Community Amenity, Best Multi-Family Housing Community – 30-60 DU/Acre and Best Indoor/Outdoor Lifestyle for a Community. The Griffin on Spring: Designed by MVE + Partners for developer Holland Partner Group, The Griffin on Spring was recognized in the Best Multi-Family Housing Community – 100 DU/Acre or More category.

Contact: Angelyssa Granillo, 909-576-1758

06/03/2019 Company News

CAPSTONE ADVISORS ACQUIRES RETAIL CENTER IN ENCINITAS, CALIFORNIA

Capstone Advisors

Contact: Nina Parra , 760-804-6900

05/24/2019 Company News

Extensia Financial Grows Lending Team, Hires Commercial Real Estate Finance Veteran

Extensia Financial

Extensia Financial, one of the nation’s premier credit union service organizations (CUSO) specializing in commercial and multifamily real estate lending nationwide, announces the addition of real estate finance veteran Richard Caldwell as its new chief lending officer. Bringing over 25 years of experience in commercial real estate lending and corporate finance, Caldwell comes to Extensia with a mandate to grow the firm’s loan originations team and lending activity nationwide. This most recent addition to their team continues Extensia’s strategic execution of a plan to leverage one of the most established credit union lending and loan participation platforms nationwide. A seasoned real estate professional, Caldwell has an extensive track record of lending and advising on billions of dollars of debt and equity in commercial real estate. “Richard’s background and strength in commercial real estate debt and equity aligns with our goals and mission at Extensia,” said Craig Page, Extensia’s president and CEO. “Our team is focused on providing credit unions not only with lending opportunities that are tailored to match their specific needs and risk preferences, but also the assistance that our credit union customers need to grow their real estate lending portfolios and generate profitable returns for their members. Richard possesses exceptional insight and market knowledge, and we are pleased to welcome him into the Extensia family.” Caldwell is a former senior vice president at Revere Capital, where he led commercial real estate lending in the Western U.S. Prior to Revere, he served as chief lending officer at Pacific National Bank, part of the $19 billion FBOP Corporation, where he established a team and lending platform to successfully fund over $2 billion in real estate loans. In this capacity, he grew the bank’s assets by 800%. Richard was also a founding partner, senior vice president and regional manager at Buchanan Street Partners, a California-based real estate equity fund management firm.

Contact: Nicole Deermount, 714-263-8746

05/23/2019 Personnel News

Burke Construction Group, Inc. Announces the addition of Breann Henderson as a Project Manager

Burke Construction Group

Burke Construction Group is pleased to announce the addition of Breann Henderson in the capacity of Project Manager. Breann attended Columbia Southern University in Alabama where she earned her Bachelor of Science in Occupational Safety and Health and since then she has had a career in construction spanning over 10 years. Breann brings with her a diverse skill set, including an exceptional background in safety. Her understanding of the importance of Burke employees and trade partners personal safety and health makes her an outstanding asset to the Burke Safety Committee. As an OSHA 502 and 510 Certified Instructor, she provides top level support and commitment to our safety programs and procedures. Prior to Burke, Breann was a Senior Project Engineer at Bernards where she worked on the Chemehuevi Indian Tribe Havasu Landing Hotel and Casino in Havasu Lake, California. Breann also has project experience in office, food service, retail, entertainment and multi-family.

Contact: Jaskinder Aujla, 702-522-2013

05/22/2019 Company News

Dermody Properties Breaks Ground on 14 Acres at LogistiCenter at Speedway In Las Vegas

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently broke ground on a 251,800-square-foot distribution center in the North Las Vegas submarket of southern Nevada. It will be located at 6565 Nascar Street on a 14-acre site and will be called LogistiCenter(SM) at Speedway. It is estimated that construction will be completed by first quarter of 2020. The North Las Vegas submarket offers the highest concentration of warehouse/distribution facilities in the region. This site is accessible to Interstate 15 via the Speedway Blvd. off-ramp and offers an unobstructed view from the interstate. The building is currently available for pre-leasing and is divisible to 24,300 square feet. “This is an outstanding location for logistics-focused companies because of its ability to provide our customers with easy access to West Coast markets,“ said George Condon, West Region Partner for Dermody Properties, which is headquartered in Nevada. “Dermody Properties has been active in the Las Vegas market since 1974 and this is another great project that will benefit southern Nevada’s economy.” Corporate neighbors include Amazon, Sephora, Sysco Foods, and of course, the Las Vegas Motor Speedway. The project is represented by Garrett Toft and Sean Zaher of CBRE Las Vegas. United Construction Company will be the general contractor. LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies. For more information on LogistiCenterSM at Speedway, visit: https://dermody.com/region/west-region/property/logisticenter-at-speedway-blvd/

Contact: Chrisie Yabu, 775-686-7437

05/16/2019 Company News

C.W. Driver Companies Breaks Ground on Kinesiology and Athletics Complex at Orange Coast College

C.W. Driver Companies

COSTA MESA, Calif. – May 16, 2019 – C.W. Driver Companies, a premier builder celebrating its 100th anniversary this year, broke ground on the new $36 million Orange Coast College (OCC) Kinesiology and Athletics Complex. The 88,000-square-foot, multi-building complex is one part of a broader project to revitalize and modernize OCC’s campus, and one of three projects for OCC currently being constructed by C.W. Driver Companies. The new complex will offer a new pool and additional resources for kinesiology students. The new Kinesiology and Athletics Complex will provide an expanded, modernized space for a wide variety of OCC programs, including physical education, athletics, sports medicine and kinesiology studies. The construction will occur in two phases. The first phase includes new construction of a multi-building, one-story complex spanning 58,000 square feet. Phase two will focus on the renovation of the existing 30,000-square-foot building that houses the men and women’s locker rooms and existing pool areas. Upon completion, the three buildings will encompass division offices, athletic training, adaptive physical education, equipment management, locker rooms/showers, support spaces for the aquatics programs, a 65‐meter competition pool with double bulkheads, 25‐meter instructional pool and 450-person bleacher covered by a canopy. The buildings will be interconnected by an overhead shade structure.

Contact: Jade Terry, 714-263-8752

05/15/2019 Company News

Dermody Properties Breaks Ground on 73 Acres at LogistiCenter℠ at Lehigh Valley East In Pennsylvania

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently broke ground on two buildings in a 557,820-square-foot complex located 80 miles from the Port of New York and New Jersey. It will be located at 450 East Moorestown Road in Wind Gap, Pa., in the Northampton County submarket. Construction of the first building is scheduled to be complete in the 4th quarter, 2019. The second building will be completed in early 2020.

With more than 93 million square feet of industrial space, the Lehigh Valley market is a desired location for manufacturing, warehouse/distribution, and ecommerce companies. Among the advantages of the Lehigh Valley are a solid workforce, strong manufacturing base, key interstates, proximity to the NY/NJ port and a new FedEx Ground Hub located in Bethlehem which has opened the doors for local and national manufacturing and warehousing/distribution companies to call the Lehigh Valley home.

“This is an outstanding location for logistics-focused companies because of its ability to provide our customers with easy access to the markets of the northeast United States, and the ports are gateways to the rest of the world,“ said Eugene Preston, East Region Partner for Dermody Properties.

Building 1 will have 349,920 square feet of available space and Building 2 will have 207,900 square feet. Both will have a 36-foot clear height, ample car parking and dock doors, making them ideal for ecommerce. The buildings will sit on approximately 73.1 net acres.

The property was purchased from Ashley Development, led by Lou Pektor, and Vertek Construction Management, who were both instrumental in facilitating the approvals needed to transfer ownership and start construction. It is being represented by Brian Knowles, CCIM, SIOR and Eric Zahniser of Lee & Associates of Eastern Pennsylvania. Vertek Construction will be the general contractor.

Contact: Chriise Yabu, 775-686-7437

05/15/2019 Company News

Extensia Financial Facilitates $28.9 Million in Commercial Real Estate Loans

Extensia Financial

NORTHRIDGE, Calif. – May 15, 2019 – Extensia Financial, one of the nation’s largest credit union service organizations (CUSO) focused on commercial real estate lending, successfully led the closing of 11 commercial real estate loans totaling $28.9 million in March and April. The loans consist of seven commercial and four multifamily assets located in Alabama, California, Connecticut, Florida, Indiana, Mississippi, New York, North Carolina and Texas, and represent the breadth and depth of Extensia’s nationwide network and experience in the industry as credit unions look to the CUSO for lending opportunities and advisory services. “Demand for commercial real estate lending opportunities from credit unions continues to grow, and we were so pleased to welcome two new credit union partners into our robust network across the U.S. through the funding of these recent deals,” said Craig Page, president and CEO at Extensia Financial. “We have the tailwinds of a healthy economy at our backs, and real estate market fundamentals are strong heading into the second half of the year. As credit unions seek more lending opportunities that fit their risk profile, our team is ready to leverage our experience to help identify new ways credit unions can diversify their real estate portfolios.” About Extensia Financial Extensia Financial is one of the most seasoned credit union service organizations (CUSO) focused on commercial real estate. Established in 1995, Extensia is a customer service-driven organization providing highly customized loan programs to credit unions looking to expand their commercial real estate lending portfolios. With a robust network of over 140 credit unions in 42 states and a team of specialized commercial real estate and lending professionals, the CUSO aims to serve as a credit union’s back office, providing hands-on guidance and risk advisory services to its credit union partners. The company is headquartered in Northridge, California. To learn more visit www.extensiafinancial.com.

Contact: Nicole Deermount, 714-263-8746

05/15/2019 Personnel News

Natalie Sherod Named Account Executive at Cavignac & Associates

Cavignac & Associates

Natalie Sherod has been appointed Account Executive in the Commercial Department of Cavignac & Associates, a downtown San Diego-based risk management and insurance brokerage firm. Bringing with her nearly 12 years of experience in the insurance industry, Natalie is charged with maintaining relationships with existing clients, handling their renewals and other service needs, and prospecting for new sales leads.

Contact: Bonnie Kutch, 619-299-1010

05/14/2019 Company News

Boston Capital, Caritas Communities and South Boston NDC team up to create 47 affordable homes for seniors in South Boston, Massachusetts

Boston Capital

Boston Capital is investing in the construction of O'Connor Way Senior Housing, a 47-unit affordable housing development for seniors ages 62 or older in South Boston, Massachusetts. The general partners are Caritas Communities, Inc. and South Boston Neighborhood Development Corporation (NDC), based respectively in Braintree and Boston, MA. "We are extremely excited to partner with Mark Winkeller and Donna Brown in this investment which will create 47 affordable homes for a fast growing population of seniors needing housing in Boston," said Jack Manning, president and CEO of Boston Capital. "Residents will benefit from the development's location near the growing Seaport district and its close proximity to public transportation and downtown Boston."

Contact: Allison E. Marino, 619-299-1010

05/02/2019 Personnel News

Dermody Properties Promotes Brendan Egan to Vice President, National Account Manager

Dermody Properties

RENO, Nev. – Dermody Properties announced today that West Region Development Director, Brendan Egan, has been promoted to the role of Vice President and National Account Manager at the company. Dermody Properties is a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector. In his enhanced role, Egan will be responsible for growing relationships with companies looking for logistics properties and with industrial brokers across the nation. He will be working with Dermody Properties’ Senior Vice President, Jeff Zygler, on national development initiatives and will also be focused on sourcing build-to-suits for customers. Egan is active in the industrial and commercial real estate community, and is a member of the Council of Supply Chain Management Professionals (CSCMP), Industrial Asset Management Council (IAMC), Warehousing Education and Research Council (WERC), southern Nevada Society of Industrial and Office Realtors (SIOR), and the northern and southern Nevada chapters of NAIOP (National Association for Industrial and Office Parks). Before assuming the position of Vice President and National Account Manager, Egan was the Director of Development in the West Region at Dermody Properties, overseeing the region’s acquisitions, developments and planning. About Dermody Properties Dermody Properties is a privately-owned real estate investment, development and management firm. The company specializes in the acquisition 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 83 million square feet of industrial space. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, New Jersey and Nevada. For more information visit www.Dermody.com.

Contact: Stephanie Kruse, 775-771-4510

05/02/2019 Personnel News

Burke Construction Group, Inc. Announces the Addition of Stefanie Fassbender as Virtual Design and Construction Manager

Burke Construction Group

Burke Construction Group is pleased to announce the addition of Stefanie Fassbender in the capacity of Virtual Design and Construction Manager. Stefanie attended the University of Wisconsin, Madison where she received her Master of Science in Civil Engineering with a specialization in Construction Engineering and Management. Seeing the tremendous value that Virtual Design and Construction (VD&C) has in the future of the construction industry, Burke has continued to invest in this innovative department. As the Manager of VD&C, Stefanie is responsible for creating a multi-dimensional digital representation of projects, which will be accomplished by providing clash detections, model coordination and construction sequencing. The VD&C department will be able to give clients, architects and contractors more insight into the project through renderings, animations and virtual walk-throughs of the space. Additionally, this department will continue to explore new technologies that will give Burke a competitive edge while showing clients a better visual representation of the concept throughout the lifecycle of a project. With these cutting-edge technologies and continued expansion, we are capable of early detection, saving time and lowering costs for our clients as well as improving jobsite safety and project team coordination across all projects. Burke Construction Group is excited about this new chapter and to be at the forefront of this cutting-edge technology.

Contact: Jaskinder Aujla, 702-522-2013

05/01/2019 Company News

Development Underway On 1.7 Million Square Feet At Palmetto Logistics Park In Atlanta

CT Realty

CT Realty and its affiliates are in development on two large-scale distribution buildings totaling 1,747,074 square feet at Palmetto Logistics Park, a 358-acre distribution facility in greater Atlanta. The development follows the completion of the first phase of development in late 2018, a 1,054,500-square-foot building that was leased to medical device manufacturer Drive DeVilbiss Healthcare shortly after completion. A key feature of Palmetto Logistics Park is its location next to the CSX-Fairburn Intermodal Terminal and proximity to I-85, one of two prominent north-south interstates in the region. The project is 16 miles from Hartsfield Jackson Atlanta International Airport and is a half-day truck drive to three principal Southeast seaports in Savannah and Brunswick, GA, and Charleston, S.C. CT and affiliate Port Logistics Realty partnered with River Oaks Capital Partners in a joint venture with PGIM Real Estate, the real estate investment business of Prudential Financial, Inc. (NYSE:PRU) on the development of Palmetto Logistics Park. Vertical construction is underway on the second building at the project, a 1,041,600-square-foot building that is slated for completion Q1 2020. In addition, preliminary site work has begun on building three, a 705,474-square-foot building that will be delivered in Q2 2020. “Early tenant acceptance for this project was evident in the quick lease up on the first building soon after completion,” added Eben Hardie of River Oaks Capital Partners, CT’s partner in Atlanta. “We see tenant demand remaining strong as we complete these next two buildings.” CT Realty is engaged in a strategic expansion to meet the significant global demand from e-commerce and logistics companies for large-scale, Class A industrial buildings in nine Tier 1 markets in the U.S. CT recently announced the development of 882,000 square feet in Fort Worth, Texas, and is under construction on logistics centers in Northern California, Illinois, Indiana and New Jersey.

Contact: Nicole Deermount, 714-263-8746

04/25/2019 Company News

SoundEarth Strategies Acquires EHSI

SoundEarth Strategies, Inc.

SoundEarth Strategies, Inc. (SoundEarth) has acquired EHS-International, Inc. (EHSI). Both companies offer environmental consulting and engineering services. The acquisition is the latest in SoundEarth’s execution of its growth strategy, focused on expansion into new markets through recruitment and acquisitions. “Our firms really complement each other very nicely,” said Al Davis, CEO at SoundEarth. “Both companies have built success around providing excellent client service, and that will continue to be our top priority. “EHSI has a strong reputation with the federal government, schools and public agencies. We look forward to growing our partnership in these and other market sectors.” “It was important for EHSI to find a partner that shares our company values and vision,” said EHSI President Larry Toimil. “This acquisition ensures the long-term future for EHSI. As EHSI graduates from the minority disadvantaged program with this partnership, we look forward to providing more service lines and expanding our reach as a small business.” The companies will continue to function as separate entities and will continue to operate with their clients, employees and systems. In addition to pursuing government and public agency work via its acquisition of EHSI, SoundEarth has increased its focus on the industrial sector through strategic hiring from industry and by opening an office near the Tideflats in Tacoma, Washington. “We certainly anticipate more of these types of transactions in our future,” Davis said. “There are a number of areas where we’ve identified opportunity to diversify our service offerings, our client base, our geographic reach—we’re beginning to develop services in wetlands and climate change, and expanding our stormwater program. Opportunities for adding an office in Portland, Oregon, are very interesting to us.” Both headquartered in Seattle, SoundEarth and EHSI provide environmental consulting services throughout the Puget Sound region and Pacific Northwest states.

Contact: Christy Kobeski, 206-436-5929

04/24/2019 Company News

R.D. Olson Construction 10th Annual Charity Golf Tournament Raised More Than $80K to Support Pediatric Cancer Research Foundation

R.D. Olson Construction

R.D. Olson Construction (RDOC), an award-winning general contracting firm in California celebrating its 40th anniversary this year, hosted its 10th Annual Charity Golf Tournament on Monday, April 22 and raised more than $80K for charity. All proceeds will benefit the Pediatric Cancer Research Foundation (PCRF), an Orange County-based nonprofit organization committed to improving the care, quality of life and survival rate of children with malignant diseases. The tournament was hosted at Oak Creek Golf Club in Irvine, Calif. and included key industry leaders and professionals including Tim Cromwell, executive vice president of RDOC and board member of PCRF, and Bob Olson, president and CEO of R.D. Olson Development. Guests were treated to a catered lunch prior to a 12 p.m. shotgun start, followed by a cocktail reception and silent auction focused on raising significant funds for the foundation. Since its inception in 1982, PCRF has raised $42 million to fund research for the treatment of pediatric cancer diseases. “We’re honored to support the amazing work performed by PCRF and help fund future cutting-edge research, education and lifesaving advancements for children with cancer,” said Bill Wilhelm, president of R.D. Olson Construction. “Our annual event brings the industry together for a fun-filled day of golfing and networking while allowing us to make a difference for the many children and families impacted by childhood cancers.”

Contact: Angelyssa Granillo, 714-263-8743

04/18/2019 Company News

Burke Construction Group, Inc. Announces the Appointment of President & CEO, Kevin Burke as a Kansas State Alumni Fellow for the College of Engineering.

Burke Construction Group

Burke Construction Group is pleased to announce the recent appointment of President & CEO, Kevin E. Burke as a Kansas State Alumni Fellow for the College of Engineering. The College of Engineering enrolls over 4,100 students into 8 academic departments and 11 undergraduate degree programs. Every year since 1983 the Kansas State Alumni Association recognizes alumni who have distinguished themselves in their careers. With approximately 187,000 living graduates, this recognition is a special way of honoring alumni’s many contributions to their profession and the university. The 317 Kansas State Alumni Fellows are chosen by each college to return as distinguished guests, mentors, friends and counselors. This special appointment will give Kevin the opportunity to share his professional expertise with students as well as faculty in the classroom and informal settings. Kevin Burke earned his bachelor’s degree in mechanical engineering with a minor in business management from Kansas State University. Since joining Burke Construction Group in 1989, Mr. Burke has held various leadership positions within the organization, culminating into his appointment as President & CEO in 2001. Kevin was twice appointed by the governor of Nevada as Chairman of the state’s Contractor’s Board and is currently sitting on the Nevada Contractors Association (NCA) board. Additionally, Mr. Burke also continues to play a key role in some of the construction industry’s most distinguished organizations, including National Association of Industrial and Office Parks (NAIOP), Henderson Chamber of Commerce (HCC), Las Vegas Global Economic Alliance (LVGEA), Society of Industrial and Office Realtors (SIOR), American Institute of Architects (AIA) and Young President’s Organization (YPO) Gold. In addition to the large role Kevin plays within the industry, he is also very focused on giving back to the community through charities and volunteering opportunities, especially in the Southern Nevada region.

Contact: Jaskinder Aujla, 702-522-2013

04/16/2019 Personnel News

Dermody Properties Promotes Tim Walsh to Chief Investment Officer

Dermody Properties

Dermody Properties announced today that senior leadership member, Tim Walsh, has been promoted to the role of Chief Investment Officer at the company. His enhanced role includes overseeing all origination activities, such as acquisitions, development and build-to-suit projects. His primary focus will be working with Dermody Properties’ national team of regional partners to identify and target the best value add industrial investment opportunities available for Dermody Properties Industrial Fund II, LP (DPIF II), the company’s fully discretionary investment fund. Walsh will utilize his extensive experience in fund management to guide portfolio construction decisions, influence asset management choices, and ultimately make recommendations on the timing of dispositions. His additional duties include overseeing and promoting consistency in the company’s due diligence and closing processes. Walsh has been a member of the Executive and Investment Committees at Dermody Properties since 2016. “I am honored to be entrusted with these expanded responsibilities,” Walsh said. “I look forward to working with the team to build on the excellent results we have generated for our investors in the past as we work to successfully deploy DPIF II.” Before assuming the position of Chief Investment Officer, Walsh held the position of Chief Acquisition Officer at Dermody Properties overseeing all of the company’s value add acquisition efforts. Prior to that, Walsh was the Core Portfolio Manager for Exeter Property Group. He has more than 30 years of experience in real estate and fund management with a primary focus in the industrial and logistics sector. “We are excited to have Tim in this enhanced role,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “He has been a key player in our investment efforts and strategic growth. We will benefit from his expertise as we further our investments on a nationwide scale.”

Contact: Chrisie Yabu, 775-686-7437

04/15/2019 Company News

Cox, Castle & Nicholson Rocks Out at 2019 Law Rocks for Los Angeles Foster Youth

Idea Hall

Cox, Castle & Nicholson LLP, a full-service law firm focused on real estate throughout the United States, was recently proudly represented by Castle of Rock at the 8th Annual Law Rocks Los Angeles, a fundraising concert series starring legal professionals. Held at the historic Whisky a Go Go on Sunset Strip, the event raised $178,193 for local nonprofits. Composed of Cox, Castle & Nicholson employees, as well as clients and friends of the firm, it was Castle of Rock’s third performance at Law Rocks, with funds raised benefitting United Friends of the Children, a Los Angeles-based nonprofit organization dedicated to bettering the lives of foster children and supporting foster youth in their journey to self-sufficiency. Castle of Rock is composed of Cox Castle Accounting Clerk Amber Wyman (lead singer), Attorney Tyler Dockins (guitar), IT Director John Larivee (rhythm guitarist), LBA Realty Principal Tom Rutherford (guitar), United Friends of the Children Advocacy Counselor Miguel Oaks (keyboard), and friends of the firm Joe Chappell (bass guitar), John Boutin (drums), Tehillah Alphonso (backup vocals) and Tim Fragos (backup vocals).

Contact: Alvina Olivier, 714-263-8742

04/10/2019 Company News

R.D. Olson Construction Breaks Ground On AC Hotel Wailea

R.D. Olson Construction

R.D. Olson Construction, an award-winning general contracting firm in California, today announced the ground-up construction of AC Hotel Wailea, a 70,000-square-foot, four-story estate hotel located on the southside of Maui County in Wailea. Situated on a three-acre lot, the 110-room hotel will include one-bedroom suites and studio options, a business center, fitness area and infinity-edge pool complete with a poolside tiki bar and cabanas. The property is located at the corner of Wailea Ike Place and Wailea Ike Drive adjacent to the Wailea Tennis Club. It is in close proximity to The Shops at Wailea, which features 70 retail stores and myriad dining and entertainment options. Other nearby attractions include Wailea Blue Golf Course and Wailea Beach. “We’re honored to partner with Ike Place Hotels to build a new, contemporary estate hotel for couples and young travelers – a previously underserved tourist population for beautiful Wailea,” said Bill Wilhelm, president of R.D. Olson Construction. “We are proud to bring 20 years of experience creating memorable hotel destinations to the Hawaiian Islands, and leverage our familiarity building in this locale through our previous work on the Residence Inn by Marriott, Wailea’s first ever family-centric hotel. Our experience and deep understanding of the community will be invaluable to bringing Maui its first AC Hotel by Marriott.” Featuring a Polynesian design with modern flare, AC Hotel Wailea will offer guests ocean and mountain-view room options with private lanais. The property also will feature an inviting lobby with indoor-outdoor lounge spaces and an 85-car parking lot. R.D. Olson Construction is working with R.D. Olson Development, Architects Hawaii Limited and SAND Design on the project. Completion is anticipated for fall 2020. Other Hawaii-based projects by R.D. Olson Construction include the Marriott Courtyard in Kahului and Edition Hotel in Honolulu.

Contact: Angelyssa Granillo, 909-576-1758

04/10/2019 Company News

CT Realty Developing Westport Logistics Center In Dallas/Fort Worth Metroplex

CT Realty

CT Realty is now in construction on the development of Westport Logistics Center, a two-building 882,565-square-foot project in the Fort Worth, Texas submarket of Alliance. The project, CT’s fourth major development in the Dallas/Fort Worth Metroplex, was chosen for its prime location next to key logistics and distribution infrastructure. “This project is ideal for logistics users and is practically next door to the BNSF intermodal railyard, which handles 835,000 annual TEU lifts, plus dedicated air cargo facilities at the Fort Worth Alliance Airport,” said Rob Huthnance, the CT partner responsible for Midwest and East Coast development and operations. “The location of an Amazon fulfillment center adjacent to our site speaks to the established location attributes of this project.” Westport Logistics Center consists of two state-of-the-art distribution buildings measuring 677,249 square feet and 205,136 square feet. The buildings offer either single-sided or cross-dock loading with ample loading bays, clear heights of 32 feet or 36 feet, 185-foot truck courts and build-to-suit office spaces. Westport Logistics Center is represented by CBRE. The project, which is being built in a joint venture with Mitsubishi’s Diamond Realty Investments, marks CT’s fourth major industrial development in the DFW Metroplex, where the firm has developed both on its own account and with affiliates over 2 million square feet of distribution space in the market over the last few years. On a broader national scale, CT has completed or is under construction on another 7.6 million square feet of logistics centers in Northern California, Atlanta, Illinois, Indiana and New Jersey, and has an additional 20 million square feet of industrial space in its development pipeline. “CT’s growth strategy is focused on the development, ownership and management of a portfolio of logistics projects in high demand Tier 1 markets throughout the U.S.,” added Huthnance.

Contact: Nicole Deermount, 714-263-8746

04/09/2019 Company News

Calkain’s Fernandez Sells $7.5M Fair Lakes Center Property

Calkain

Calkain's Rick Fernandez, Senior Managing Director, recently completed the sale of 13065 Fair Lakes Center in Fairfax, VA. The property includes a 5-acre parcel with 37,000 square feet of improvements and is guaranteed and net leased to Bed Bath & Beyond, Inc operating under its boutique concepts andThat! and Harmon Face Values. The property traded for $7.5M, a 6.15% cap on current rent. The highly adaptable retail location underwent a $3M+ renovation in 2017 and is adjacent to Michael’s, Home Goods and the Walmart Supercenter in the 1 million square foot Fair Lakes Center. “There was significant interest and multiple offers from private and institutional buyers for the property,” commented Fernandez. “The buyer, on a 1031 exchange, was looking to expand its investment portfolio and the ideally situated property, together with the 15-year landlord friendly Bed Bath & Beyond lease offered generational real estate with long term potential for income growth.” Fernandez continued.

Contact: Traci Bidinger, 703-935-0947

04/03/2019 Company News

H. HENDY ASSOCIATES COMPLETES NEW 160,000-SQUARE-FOOT MANUFACTURING FACILITY FOR SOUTHLAND INDUSTRIES

H. Hendy Associates

Award-winning interior architecture and planning firm H. Hendy Associates (Hendy) today announced the completion of the new Southern California office space and fabrication facility for Southland Industries, one of the largest mechanical, electrical and plumbing (MEP) systems firms in the nation. Located in Garden Grove at 12131 Western Avenue, Hendy delivered a process-driven and employee-centric environment designed to enhance Southland’s integrated solutions across the entire building lifecycle. Founded in 1949, Southland delivers customized engineering, construction, building automation, service and energy capabilities as standalone services or as integrated solutions. Previously dispersed among two buildings, Southland’s new 160,000 square-foot fabrication facility unites employees across departments within a cohesive floorplan. The new layout creates synergy among processes and teams and provides Southland with the environment to continue to produce results that have earned the firm its unmatched reputation as an industry leader of next-generation products and equipment configurations. With the goal to enhance the way in which space is used within Southland, Hendy’s Science and Technology Studio measured the number of steps it would take employees to travel to key areas within the facility and designed pathways throughout the floorplan to support optimal navigation patterns. Using this insight to inform its design, Hendy delivered a highly-efficient working environment that promotes productivity, collaboration and quality Southland services and solutions.

Contact: Angelyssa Granillo, 714-263-8743

04/03/2019 Company News

MBK RENTAL LIVING AND SNYDER LANGSTON TEAM UP ON 300-UNIT LUXURY APARTMENT COMMUNITY IN LOS ANGELES COUNTY’S SOUTH BAY

MBK Rental Living

MBK Rental Living and Snyder Langston today announced the groundbreaking of Evolve South Bay, a new contemporary-designed apartment community in Carson, California. Offering the fusion of an urban, fast-paced Los Angeles lifestyle in a sophisticated California coastal community, the MBK Rental Living community will include 300, three-story stacked flats with top-floor lofts with one-, two- and three-bedroom options with private garages. The 11.8-acre apartment complex is general contractor Snyder Langston’s newest project in Southern California, where the firm currently has 17 other residential projects in various phases of pre-construction and construction. The new community will feature luxury interior finishes including modern cabinetry, quartz countertops, stainless steel appliances, and distinctive wood-style flooring. Modern amenities for tenants include state-of-the-art fitness center, resort-style pool and spa, barbeque area, outdoor fireplaces, outdoor fitness equipment, dog park, walking path, co-working space, business center, social lounge, and an open-air transition space known as a California Room. “Success for Snyder Langston is when our clients share the same core values and aligned goals in our approach to building their project,” Greg Sadick, senior vice president, residential, at Snyder Langston. “When we work with client developers like MBK Rental Living, who bring an institutional level of professionalism, we are able to create a high-functioning team and collaborative process that delivers a superior quality community for their residents.” Evolve South Bay is located at 20330 South Main Street.

Contact: Melissa Goosen, 818-400-3843

03/29/2019 Company News

Cox, Castle & Nicholson LLP Helps to 'Reach for a Cure' for Pediatric Cancer Research Foundation

Cox, Castle & Nicholson LLP

Cox, Castle & Nicholson LLP, a full-service law firm focused on real estate throughout the United States, proudly sponsored the Pediatric Cancer Research Foundation’s 21st Annual Reaching for the Cure Run/Walk/Ride event. Held on March 17, 2019 at Irvine Valley College in Irvine, Calif., the event raised more than $430,000 for life-saving research for cures for pediatric cancer.

Cox, Castle & Nicholson has been title sponsor for the 5K walk at the event for six consecutive years. This year’s CCN team had over 40 participants.

Contact: Kristina Sarenas, 714-263-8750

03/29/2019 Company News

Newmark Knight Frank Completes the Sale of 2150 North 1st St.

Newmark Knight Frank

San Jose, CA (March 29, 2019) Newmark Knight Frank (NKF) has announced the sale of 2150 North 1st Street, a multi-tenant Class A Office building in North San Jose. NKF Capital Markets Vice Chairman Steven Golubchik, Executive Managing Director Edmund Najera, Senior Managing Director Tyler Meyerdirk, and Associate Director Darren Hollak represented the seller as a joint venture between Ryan Companies US, Inc. and a private fund managed by Wayzata Investment Partners, LLC in the transaction to the buyer Novel CoWorking. The six-story, 123,699 square-foot office building features panoramic views of Downtown San Jose, flexible floor plates and a new fitness center with locker rooms. The property recently underwent a significant $4 million renovation including upgrades to mechanical systems, common areas, restrooms and tenant spaces. “The demolition of nearly 20 million square feet of office product in the Silicon Valley has created substantial tenant and investor demand for office product throughout the area”, said Golubchik. The property is surrounded by leading technology companies, including Apple, Samsung, Microsoft and Google’s US Campus that is expected to bring 20,000 new employees to the area.

Contact: Wesley Dickinson, 770-789-1891

03/29/2019 Company News

Brand New Net-Leased Cumberland Farms Sells for $4.9M

Calkain

Calkain’s Patrick Nutt and Connor Barton, closed this week on a net-leased Cumberland Farms asset, located at 8900 Wiles Road in Ft. Lauderdale (Coral Springs), Florida. The asset, which sold for $4.9 million, was a newly constructed project with a 20-year absolute NNN ground lease. The Calkain duo of Nutt and Barton were able to achieve premium pricing for their client, recording a cap rate of 4.60%, one of the lowest cap rate sales for Cumberland Farms.

Contact: Traci Bidinger, 703-935-0947

03/28/2019 Deal

Dermody Properties Acquires 108,698 SF Distribution Building in Wilsonville, Oregon

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has acquired Kinsman Logistics Center. It is a 108,698-square-foot distribution building located at 27150 SW Kinsman Rd. in Wilsonville, which is part of the Southwest submarket and one of Portland, Oregon’s strongest industrial regions. The property is situated on 8.04 acres and offers excellent access to Interstate-5 and Interstate-205, providing unsurpassed coverage of the Portland market and the Northwest region. Kinsman Logistics Center features a 30-foot interior clear height, EFSR sprinklers, 18 dock high loading doors, two grade level doors, generous truck courts and ample parking for automobiles and trailers. The property is fully leased to Aosom, LLC, a leading online retailer of home décor and other consumer products, that will continue to occupy the facility. The building offers excellent curb appeal, including attractive landscaping and well-maintained asphalt and paint. The office and parking amenities create a “headquarters-type” environment that is ideal for e-commerce and fulfillment, a growing part of Oregon’s economy, and consistent with the tenant mix in Southwest Portland. “This property offers excellent opportunities for a wide variety of logistics customers,” said Douglas A. Kiersey, Jr., President, Dermody Properties. “Located in one of Portland’s premier distribution submarkets, Kinsman Logistics Center is an ideal complement to the Dermody Properties strategic portfolio.” Corporate neighbors include Nike, Microsoft and Xerox. Andy Kangas of CBRE brought the opportunity to Dermody Properties.

Contact: Chrisie Yabu, 775-686-7437

03/28/2019 Company News

Burke Construction Group Announces the Promotion of Mark Fletcher to Vice President of Finance & Accounting

Burke Construction Group

Burke Construction Group is pleased to announce the recent promotion of Mark Fletcher to Vice President of Finance & Accounting. Mark is a graduate of the Lee Business School at the University of Nevada Las Vegas, and earned his Bachelor of Science in Accounting and Finance. Prior to starting with Burke, Mark was the Senior Manager of Fixed Assets for Caesars Entertainment, where he led the fixed asset team and was responsible for accounting and maintaining records of $2.2 billion in tangible assets. In addition to his experience at Caesars Entertainment, Mark previously served as the Vice President of Finance for Marnell Corrao Associates, Inc. Throughout his tenure at Burke, Mark has provided critical leadership with our CMiC platform transition. Additionally, Mark will be joining the Senior Management Leadership Team for Burke Construction, and will be responsible for all financial activities of the Company, including internal and corporate financial reporting. “We are thrilled to have Mark join the Senior Management team and look forward to him fulfilling a vital role within our company.” – Kevin Burke, President & CEO

Contact: Gitana Cafasso, 702-367-1040

03/27/2019 Company News

C.W. Driver Companies Completes $15.9 Million San Diego Mesa College Fine Arts Center

C.W. Driver Companies

PASADENA AND SAN DIEGO, Calif. – March 27, 2019 – C.W. Driver Companies, a legacy builder celebrating its 100th anniversary this year, today announced the completion of the new $15.9 million San Diego Mesa College Fine Arts Building – a four-story, 26,500-square-foot facility that unites the program’s departments into a single modernized building. The new space facilitates experiential teaching and collaboration, enhancing the department’s ability to provide a comprehensive fine arts education program and hands-on experience for students. Located at 7250 Mesa College Drive on the site of the former I-300 building, the new integrated building provides a hub for the college’s photography, digital graphics, drawing, painting, ceramics and sculpting classes and studios. “We were proud to partner with Mesa College to bring to life its vision of a unified environment that inspires creative community on campus,” said Brandon Silveira, project manager at C.W. Driver Companies. “The design incorporates large, open studio classrooms that allow for maximum flexibility, and provides the resources and education its fine arts students need to succeed as the college’s programs continue to grow and thrive.” As one of the largest and most successful of California's 114 community colleges, and the largest in the San Diego Community College District (SDCCD), Mesa College serves 24,000 students. Through its annual contractor recognition program, SDCCD honored C.W. Driver Companies for its exemplary small business outreach and engagement practices throughout the project duration. C.W. Driver Companies partnered with architecture firm Hanna Gabriel Wells on the project. The building is designed to obtain LEED® Silver certification. The new fine arts facility was funded by the $1.55 billion Proposition S and N construction bond program. The Mesa College Fine Arts Building adds to C.W. Driver Companies’ robust higher education portfolio.

Contact: Nicole Deermount , 714-263-8746

03/27/2019 Deal

CT Realty Sells Northern California Logistics Building For $105.3 Million

CT Realty

Newport Beach and Stockton, Calif. – March 27, 2019 – CT Realty has sold a newly-built 1,122,341-square-foot industrial building to Bentall Kennedy (U.S.) Limited Partnership on behalf of its US Core Fund for $105.3 million, marking CT’s completion of the first phase of development at the 342-acre NorCal Logistics Center in Stockton, Calif. The building, previously one of the largest spec industrial developments in Northern California, was 100 percent leased to Amazon at time of sale. “NorCal Logistics Center was developed to meet the demands of today’s most progressive logistics users, and no one embodies this better than Amazon,” said Carter Ewing, managing partner at CT Realty. “It’s only natural, therefore, that a leading institutional investor such as Bentall Kennedy was attracted to the fundamental strengths of this state-of-the-art logistics building and its long-term value proposition.” Located at 4532 Newcastle Road, the building is within close proximity of two intermodal rail facilities and multiple interstate highways, serving all major Northern California markets and key Western U.S. destinations. The region is an extension of a global logistics supply chain infrastructure that links to West Coast ports in Oakland/Stockton, Los Angeles/Long Beach, Portland, Ore. and Seattle/Tacoma, Wash. “The broad interest surrounding this sale reflects the increasingly high demand by tenants and investors for quality logistics facilities near heavily populated metropolitan areas,” added Ewing. The second phase of development at NorCal Logistics Center is underway and includes 2.7 million square feet in five buildings in a mix of spec and build-to-suit projects. CT is currently in construction on 5 million square feet of industrial space nationwide, including 1.3 million square feet of large-scale distribution buildings. CT is actively seeking additional development opportunities in 2019 for future expansion.

Contact: Nicole Deermount, 949-274-3855

03/27/2019 Company News

Calkain’s Fernandez Retained to Sell $9.5M

Calkain

Rick Fernandez, Calkain's Senior Managing Director, was recently retained to sell the Verizon anchored five tenant retail property at the prominent intersection of Route 29 and Rio Road on Charlottesville’s main retail corridor. The 1.5 acre corner parcel and 14,696 square foot building were constructed in 2007. All but one of the original tenants remain. The newest tenant, a Verizon Wireless store, closed a nearby store to relocate to this center to take advantage of the 90,000+ cars that pass through the intersection immediately adjacent to the Rio Road Shops. In addition to Verizon, the NNN leased long term tenants include Jimmy Johns, The Vitamin Shoppe and Sportclips. Fernandez commented, “The strong and stable tenant mix operating under NNN leases provide cash flow stability and the potential for income appreciation. This is an exclusive opportunity to own a highly adaptable, generational investment minutes from the University of Virginia in the heart of Charlottesville’s shopping district.”

Contact: Traci Bidinger, 703-935-0947

03/26/2019 Company News

Boston Capital and POAH Team Up to Preserve 106 Affordable Units for Families in Chicago, Illinois

Boston Capital

Boston Capital is investing in the renovation of Johnson and Butler-Lindon Apartments, a 106 unit apartment community in Chicago, Illinois. The general partner is Preservation of Affordable Housing, Inc. (POAH), a non-profit affordable housing development company headquartered in Boston, Massachusetts. Johnson and Butler-Lindon Apartments represents Boston Capital's fifth investment with POAH. The property will be renovated with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program, provided through the Illinois Housing Development Authority (IHDA). Units will be available to families and individuals with incomes at or below 60 percent of AMI. Eight (8) supportive housing units will be available for residents with disabilities, and will include supportive services.

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