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.

Update News
09/20/2022 Personnel News

Dermody Properties Hires Pearce Dermody as Vice President and Investment Manager

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has hired Pearce Dermody as Vice President and Investment Manager in Nevada. Dermody brings a breadth of experience in the federal funds allocation process, land use policy, and cost structures – all critical in working with federal agencies, stakeholders, and investors. He will be responsible for the sourcing and management of acquisitions and the development of logistics products all across Nevada. Dermody will support and work closely with John Ramous, Partner in Nevada. “I am humbled to be joining the exceptional team at Dermody Properties,” said Dermody. “I am pleased to be part of a culture that is customer-focused and to be surrounded by colleagues that continually strive for excellence.” Prior to his role at Dermody Properties, Dermody was Vice President at Atalyst Financial Group where he served on the executive team originating, engineering, and executing investment banking transactions, as well as transactions related to securities, mortgage brokerage, and real estate brokerage. “We are thrilled to welcome Pearce to Dermody Properties,” said John Ramous, Partner in Nevada at Dermody Properties. “His experience in managing relationships with stakeholders and investors will be a great asset to our company and for our customers in Nevada.” Dermody holds a master’s degree in real estate from Georgetown University and a bachelor’s degree in political science with a minor in business administration from the University of Nevada, Reno. He also holds a Certificate in Commercial Real Estate from Cornell University.

Contact: Nicole Shearer, 530-448-6485

09/08/2022 Company News

Dermody Properties Hires Benjamin Seeger as Northwest Region Partner

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has announced Benjamin Seeger as Northwest Region Partner. He is based in the company’s Bellevue, Wash. office and works closely with Phil Wood, also a Partner in the region. In this position, Seeger is responsible for the sourcing and execution of acquisition and development opportunities in the Northwest region of the United States, with a focus on Seattle and Portland industrial real estate. He also leads asset management and customer relations for the region. “I am thrilled to join the experienced and talented team at Dermody Properties and to contribute to this fast-paced and dynamic region within the portfolio,” said Seeger. “The Pacific Northwest offers expedient access to national and international customers and bright prospects for new acquisitions and developments.” Before joining Dermody Properties, Seeger was a senior manager at Amazon, leading the company’s real estate program for last-mile logistics facilities in North America, Latin America, Australia and Singapore. At Amazon, he managed a large team of real estate professionals responsible for sourcing and developing existing and build-to-suit facilities across those regions. Prior to that, Seeger was a practicing commercial real estate attorney for nearly a decade, working with many of the premier real estate practices in the Northwest. He represented clients in leasing, acquisition, financing, and development across asset types and regions. Seeger is a member of the Washington State Bar and a graduate of the Urban Land Institute’s Center for Sustainable Leadership. He holds a bachelor’s degree in economics from the University of Washington and a J.D. from Vanderbilt University.

Contact: Nicole Shearer, 530-448-6485

08/23/2022 Personnel News

Graycor Promotes Rusty Martin to Head of Growing Southwest Division

Graycor

Leading national general contractor Graycor Construction Company has promoted Rusty Martin to General Manager of the Southwest Division. In this role, Martin will lead Graycor’s Phoenix-based team and work to strategically expand its business in the Southwest, both within the core industrial buildings market and through new adjacent markets. Martin joined Graycor in 2017 as a Project Executive. Last year he was promoted to Operations Manager, providing operational oversight for the Phoenix office and directing all Graycor project operations in the Southwest to ensure consistency and continuous improvement throughout the construction pipeline. “Rusty is a big part of Graycor’s Southwest success story and is respected for his leadership abilities and expertise across a wide range of building product types,” said Graycor Construction Company President Tim Hanifin. “He is committed to our employees, our project partners and our clients, and is eager to lead our team into a time of continued demand and opportunity.” A 26-year industry veteran, Martin has completed landmark and award-winning projects in the industrial, manufacturing, retail, mixed-use, hospitality, corrections, office and tenant improvement spaces. He holds a bachelor’s degree in Construction Management from Brigham Young University and is a graduate of the Arizona Builders Alliance Leadership Development Forum (LDF) program. He is a member of NAIOP and an affiliate member of SIOR. Graycor has developed millions of square feet across the Southwest, most recently at G303 – a 1.2 million-square-foot NAIOP Industrial Spec Project of the Year in Glendale, Arizona.

Contact: Stacey Hershauer, 480-600-0195

08/17/2022 Personnel News

Dermody Properties Welcomes Industry Veteran Amy Curry as Partner, Chief Strategy Officer

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has hired Amy Curry as Partner and Chief Strategy Officer. Curry brings more than 22 years of logistics real estate experience to the role, where she will be responsible for the growth of the company’s existing and future investment platforms. Curry will advise and support Dermody Properties’ strategic direction and will join the company’s Investment and Executive Committees. “I look forward to working with the exceptional team at Dermody Properties,” said Curry. “There are many opportunities for strategic growth across the U.S., and I am pleased to help further develop the company’s vision for continued success.” Prior to joining Dermody Properties, Curry was Executive Vice President for Hillwood where she held multiple regional leadership roles sourcing and stabilizing industrial joint ventures, developments and acquisitions. Before Hillwood, Curry held leadership positions at GLP, IndCor (a Blackstone Company) and First Industrial. “We are thrilled to welcome Amy to Dermody Properties,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “Her leadership talents, extensive transaction experience, personal qualities and professionalism will help us continue to deliver excellence and drive growth nationwide.” Curry holds a Master of Science in Real Estate from Georgia State University and a Bachelor of Science in Industrial Engineering from the Georgia Institute of Technology. In addition, she has held leadership and board positions with NAIOP, CCIM and the Council of Supply Chain Management Professionals. “Amy’s depth of experience and knowledge in the logistics real estate industry will prove valuable to our team and our clients,” said Michael C. Dermody, Chairman and Chief Executive Officer for Dermody Properties. “We are pleased to welcome her to the team.”

Contact: Nicole Shearer, 530-448-6485

08/05/2022 Deal

NAI Legacy Closes on $6.75M Acquisition of Woodbury Pad Site

NAI Legacy

Minneapolis, MN- July 25, 2022 - NAI Legacy, a member of the world’s premier managed network of commercial real estate firms, announced today that it represented the acquisition of ± 33.7-acre site adjacent to the Amazon distribution center in Woodbury, MN. Craig Patterson, Senior Vice President – Development said: “We are excited to be a part of the fast-growing and highly sought-out industrial area in the NE quadrant of Woodbury. Some of the attributes that attracted us to the site, was the prominent location that offers excellent access for the entire east metro, with an easy on and off from I-94 and Manning Ave. Additionally, the strong labor force that Woodbury and the surrounding areas offer for employees will benefit future companies that locate their businesses in the project. The City of Woodbury is also finalizing upgrades and expansion of Hudson Road that will help with the efficiency of traffic flow for this industrial area. The project will offer a state-of-the-art facility for logistics and distribution companies that desire a superior location within the Twin Cities. The development land is located on Hudson Road, adjacent to I-94 and the logistics/distribution center will be delivered in the summer of 2023. The site plan includes a 476,928 SF, 36’ clear, cross-dock facility with 70 dock doors (expandable to 88), 3 Drive-ins, 100 spots for trailer parking, and 400 automobile parking spaces. NAI Legacy plans to break ground in August 2022. Woodbury, MN is undergoing monumental commercial development, and the I-94 East Logistics Center is just one of the many industrial properties undergoing development along the I-94 corridor.

Contact: Amelia Bjorklund, 952-491-3069

07/19/2022 Company News

Dermody Properties Announces Lease of LogistiCenter℠ at Lehigh Valley East to Iron Mountain and CONRI Services, Inc.

Dermody Properties

BUSHKILL TOWNSHIP, Penn. — Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the lease of LogistiCenter℠ at Lehigh Valley East Building 1, located at 450 E. Moorestown Rd., to Iron Mountain and CONRI Services, Inc. Iron Mountain is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. This location expands its consumer storage division, as well as corporate data and physical storage. CONRI Services, Inc. offers warehousing and fulfillment services to a variety of customers, including publishing, home decor, gifts and tea. The company is expanding its existing footprint in New York and New Jersey to accommodate both existing and new customers and will lease the remaining 116,640 square feet of the state-of-the-art space. The leased space contains a total of 349,920 square feet and features a 36-foot clear height, 62 trailer parking spaces and 197 car parking spaces. Brian Knowles and Eric Zahniser of Lee & Associates represented Dermody Properties in the lease transactions. Ed Soriano and Larry Maister of JLL represented Iron Mountain and Jeff Lockard of JLL represented CONRI Services, Inc. LogistiCenter℠ at Lehigh Valley East Building 2, located at 460 E. Moorestown Rd., was leased to Mainfreight, Inc. earlier this year. LogistiCenter℠, 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.

Contact: Nicole Shearer, 530-448-6485

07/11/2022 Company News

R.D. OLSON CONSTRUCTION BREAKS GROUND ON SENIOR HOUSING IN PASADENA, CALIFORNIA

R.D. Olson

R.D. Olson Construction, an award-winning general contracting firm in California, today announced that construction is underway on Heritage Square South in Pasadena, California. The 70-unit senior supportive housing complex is expected to reach completion by September 2023. Located at 710 North Fair Oaks Avenue in Pasadena, California, the $28 million, 70,000-square-foot project will feature three, three-story buildings, with 69 one-bedroom units and one two-bedroom unit. The three buildings are interconnected with walking bridges. This low-rise development will have a U-shaped footprint, wrapping a central private courtyard. The project also features amenities such as walking trails, flex rooms and a community room for the residents to enjoy. The site has a bus stop on the front of Fair Oaks Avenue, easing transportation for residents. The ground up construction project is taking the place of a former Churches Chicken. Heritage Square South is a continuation of the firm’s presence in the senior supportive housing market. “R.D. Olson’s is thrilled to work on our second project with owner, BRIDGE Housing, to bring this affordable senior housing to life,” said Bill Wilhelm, president, R.D. Olson. “BRIDGE Housing is a prominent developer in this market segment, and it is an honor to work with a company with such high standards of integrity, a stellar reputation and a long-standing track record of successful developments.”

Contact: Kennedy Dalton, 714-209-8133

Cushman Wakefield Jones Lang LaSalle