Member News  

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

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

01/20/2021 Company News

C.W. DRIVER COMPANIES COMPLETES $32M CROWN VALLEY PARK COMMUNITY BUILDING IN LAGUNA NIGUEL

C.W. Driver Companies

LAGUNA NIGUEL, Calif. – Jan. 19, 2021 – C.W. Driver Companies, a premier builder serving California since 1919, today announced the completion of the Crown Valley Park Community Building in Laguna Niguel. The $32 million, 30,000-square-foot community center and pool offers common spaces, classrooms and fitness areas for residents to participate in a wide range of community events and activities. It also marks the final phase of a three-tier improvement plan for Crown Valley Community Park. The new three-story community building includes offices, a multi-purpose room for up to 300 people, a kitchen, classrooms and other spaces designed for technology, dance, fitness and art. It also features a rooftop patio overlooking the adjacent community pool. The previous community building was demolished and replaced with this new facility. Additional elements completed by C.W. Driver Companies during this final phase of the improvement project included enhancements to the exterior of the existing YMCA building; a complete renovation of the existing community pool, surrounding pool deck and its facility amenities; a realignment of the main drive and parking area and updates to the outdoor festival area. C.W. Driver Companies partnered with the City of Laguna Niguel and architecture firm LPA, Inc. on the project. The first phase of the Crown Valley Community Park improvement plan, which completed in 2015, included two new playgrounds, a splash pad, expanded amphitheater and a new bathroom building. Phase two, which completed in 2017, included habitat restoration, the creation of a wetland, a new entry bridge, two new parking lots and entry signs.

Contact: Jade Terry, 512-415-6923

01/14/2021 Company News

C.W. DRIVER COMPANIES COMPLETES $23 MILLION PERFORMING ARTS COMPLEX FOR WOODBRIDGE HIGH SCHOOL

C.W. Driver Companies

C.W. Driver Companies, a premier builder that celebrated its 100-year anniversary in 2019, today announced the completion of a $23 million Performing Arts Complex at Woodbridge High School for Irvine Unified School District (IUSD) in Irvine, California. The 36,000-square-foot facility will support the need for additional and upgraded performing arts space for students, staff and the local community. Highlighting the school's front entrance, the new center serves as a campus beacon and incorporates a variety of new features, including a stage with a fly loft, orchestra pit, scene shop, dressing rooms and a 650-seat theater. The complex also introduces a new 1,600-square-foot black box theater complete with a sound and light control room, and various support spaces including a lobby and ticket booth. Equipment storage and staff office space were also incorporated into the new complex. “This Performing Arts Complex is a result of a highly collaborative process, with the final product reflecting input from both IUSD and the Woodbridge community,” said Tom Jones, project executive at C.W. Driver Companies. “With our breath of knowledge and experience building creative academic spaces for K-12 facilities across Southern California, we were able to deliver on the school’s vision for a modern facility that better supports its renowned performing arts program.”

Contact: Angelyssa Granillo, 909-576-1758

01/14/2021 Company News

Dermody Properties Leases 608,442 Square Feet in New Jersey to National Tree Company

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has leased the property at 150 Milford Road in East Windsor to National Tree Company (NTC), a national leader in the seasonal décor industry. NTC will lease the entire 608,442-square-foot building for seven years. Recent improvements to 150 Milford Road include an upgraded sprinkler system to ESFR, new LED warehouse lighting and a repaved truck court. For nearly 60 years, NTC has been a leading importer and wholesaler of artificial Christmas trees, wreaths and garlands as well as holiday decorations and fiber optics products. The company sells its products to several major retailers including Amazon, Wayfair, Target, Macy’s, The Home Depot and Lowe's, and primarily sells on the web platform of these retailers and fulfills orders from its warehouse direct to the end consumer. The property at 150 Milford Road is conveniently located less than one mile from Route 33, one mile from the New Jersey Turnpike and slightly more than three miles from Route 130. Mindy Lissner of CBRE represented Dermody Properties in the lease. Andrew Warren with Atlantic Real Estate Services represented National Tree Company.

Contact: Sara Robbins, 702-283-0447

12/17/2020 Company News

Dermody Properties Acquires 22.15 Acres in Northern California for LogistiCenter℠ at West Sacramento

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 22.15 acres of land at 2921 and 2925 Ramco St. in West Sacramento, Calif. to be developed into LogistiCenter℠ at West Sacramento. The two-building development is expected to be completed in the first quarter of 2022. Building one will total 102,500 square feet and will be divisible to 25,000 square feet, and feature a 32-foot clear height, 25 dock high doors, two to four drive-in doors, 114 car parking stalls and 11 trailer stalls. Building two will total 284,580 square feet and will be divisible to 80,000 square feet, and offer a 36-foot clear height, 46 dock high doors, two to four drive-in doors, 197 car parking stalls and 44 trailer stalls. Mike Zimmerman and Sean Merold of JLL presented the opportunity to Dermody Properties and will be the leasing brokers for the property. LogistiCenter℠ at West Sacramento is located in the Southport Industrial Park, a 650-acre, master-planned business park. The location provides direct access to Interstate-80, Interstate-5 and Highways 50 and 99, allowing for convenient access to Sacramento International Airport and Downtown Sacramento, and a direct route to the Greater Bay Area. Amazon, Nor-Cal Beverage, DBI, Bogle Vineyard and Old Dominion Trucking have already leased or purchased buildings in the Southport Industrial Park. The location of the property also provides access to multiple population hubs with over 2.2 million people residing within a 45-minute drive of LogistiCenter℠ at West Sacramento. 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. For more information on LogistiCenter℠ at West Sacramento, please visit the Dermody Properties website.

Contact: Sara Robbins, 702-283-0447

12/08/2020 Company News

C.W. DRIVER COMPANIES COMPLETES $12 MILLION FLINTRIDGE PREPARATORY SCHOOL BACHMANN COLLABORATION BUILDING

C.W. Driver

C.W. Driver Companies, a premier builder serving California since 1919, completed of the new Bachmann Collaboration Building at Flintridge Preparatory School in La Cañada Flintridge, California. Serving grades seven through 12, the new 18,000-square-foot, three-story building includes laboratories, art studios, classrooms, meeting rooms and offices where students and faculty will come together to learn and grow. The Bachmann Collaboration Building, which replaced an existing building at the northern end of the campus, is part of the school’s multi-phased campus improvement project intended to promote interactive work and interdisciplinary studies that will better prepare students for college and the workplace. Encompassing leadership, science, technology, engineering, art and mathematics (STEAM) as well as global studies programs, the new building will ensure the school’s regional and national competitiveness. The new structure is a combination of concrete masonry unit and steel-framed walls. Designed by Harley Ellis Devereaux (HED), it incorporates sleek, modern design elements with vast amounts of natural light, which complements the existing architecture on campus. The project also includes a new fire lane and landscaping, as well as a mechanical and electrical equipment yard. “We were charged with creating an environment that will meet the challenges of the future and continue to provide an excellent educational experience for generations of Flintridge Prep students to come,” said Jared Dowdee, director of operations at Driver SPG. “Utilizing our experience in education, we aimed to bring to life the school’s vision of providing an environment that equally values ethical, emotional and intellectual development.”

Contact: Angelyssa Granillo, 909-576-1758

12/08/2020 Company News

Dermody Properties Leases Remaining Space at LogistiCenter℠ at Speedway in North 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, has leased the remaining 48,600 square feet of space at LogistiCenter℠ at Speedway in North Las Vegas to a large snack food production and distribution company. LogistiCenterSM at Speedway was completed in the second quarter of 2020 and is now fully leased. LogistiCenter℠ at Speedway is located just five miles from FedEx Freight and UPS Freight, seven miles from the US-95 and Interstate-15 interchange, and 15 miles from McCarran International Airport. Other customers in the building include Noble Supply & Logistics, Artesian Spas and Dialog Direct, a Qualfon company. 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. Sean Zaher, Garrett Toft, Mike McCoy, Kevin Higgins and Jake Higgins of CBRE were the listing agents for this project and represented Dermody Properties in this lease and all others signed at LogistiCenter℠ at Speedway. Co-operating brokers were James Griffis and Donna Alderson from CBRE and Rob Lujan, Jason Simon and Xavier Wasiak from Jones Lang LaSalle (JLL). For current availabilities in both northern and southern Nevada, visit the Dermody Properties website.

Contact: Sara Robbins, 702-283-0447

11/23/2020 Company News

MVE + PARTNERS APPOINTS NEW PRINCIPAL, DIRECTOR OF BUSINESS DEVELOPMENT TO LAUNCH COLORADO-BASED DESIGN STUDIO

MVE + Partners

MVE + Partners (MVE), a leading architecture, planning, interior design and urban design firm, today proudly announced the addition of Richard Flierl, principal and director of business development in Colorado, to its executive leadership team. An industry veteran with a wide range of experience collaborating with architects, landscape architects, urban designers and business development experts – and deep roots in the region – Flierl will help establish MVE’s Denver-based studio with a goal of expanding the firm’s presence and portfolio in Colorado and neighboring regions. Drawing on his experience in creating and expanding design studios nationally, Flierl will help shape the direction, strategy and culture of MVE’s growing presence in Colorado. In this role, he will manage and nurture the firm’s existing relationships with local and national developers, contractors, consultant groups and industry leaders to build the firm’s regional talent base while cultivating new partnerships. “With over three decades of industry experience, an aptitude in strategic market expansion and a deep understanding of our mission and vision, Flierl is well-poised to successfully establish our new Denver-based studio,” said Matt McLarand, president, MVE. “While we’ve always had work in the Rocky Mountain region, expansion in this market is key now more than ever as millennials and remote workers relocate to the region and drive population growth.” Flierl will help MVE grow its portfolio across numerous project development types, including urban infill, commercial, residential and mixed-use, master planning and suburban redevelopment. Transit-oriented developments, an area of expertise for both Flierl and MVE, will also be a key focus of the new studio as demand for more vibrant, walkable and connected communities in Colorado is on the rise.

Contact: Angelyssa Granillo, 909-576-1758

11/19/2020 Company News

Dermody Properties Leases 63,600 Square Feet in North Las Vegas to Artesian Spas

Dermody Properties

Dermody Properties has leased 63,600 square feet of space at LogistiCenter℠ at Speedway in North Las Vegas to Artesian Spas, a manufacturer of some of the world’s leading hot tub brands providing hydrotherapy solutions to customers worldwide. Artesian Spas is based in Las Vegas and has more than 100 years of combined hot tub and spa manufacturing experience. The company also occupies a 100,000-square-foot manufacturing facility at 4720 Lamb Blvd. in North Las Vegas and, two years ago, grew into another 30,000-square-foot facility, also in North Las Vegas, for distribution of finished products. The company has since outgrown its smaller facility in the area and will be expanding and relocating that portion of its operation to LogistiCenter℠ at Speedway. Artesian Spas commenced operations in the building on October 1, 2020, where its distribution center and showroom are now combined into a single location in North Las Vegas. Garrett Toft and Sean Zaher of CBRE represented both Dermody Properties and Artesian Spas on this lease transaction. 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: Sara Robbins, 702-283-0447

11/17/2020 Company News

C.W. DRIVER COMPANIES COMPLETES $36M ORANGE COAST COLLEGE KINESIOLOGY AND AQUATICS PAVILION

C.W. Driver Companies

COSTA MESA, Calif. – Nov. 17, 2020 – C.W. Driver Companies, a premier builder serving California since 1919, today announced the completion of the new Kinesiology and Aquatics Pavilion at Orange Coast College (OCC) in Costa Mesa. The new 88,000-square-foot athletics center features expanded and modernized space for a variety of OCC programs, including physical education, athletics, sports medicine and kinesiology studies. Comprised of three buildings, the complex is part of a larger plan to revitalize OCC and attract new students to the university’s academic programs. Built in two phases, the initial stage included new construction of a 58,000-square-foot, multi-building complex. Phase two included renovation of a 30,000-square-foot structure that housed a men’s and women’s locker room and existing pool areas. The project introduces a 65‐meter competition pool with double bulkheads, 25‐meter instructional pool and 450-person capacity bleachers. The three buildings are interconnected by an overhead shade structure. The new pavilion features division offices, athletic training, equipment management, locker rooms/showers and support spaces for aquatic programs. It is also home to the school’s adapted kinesiology program, which encourages individuals with disabilities and/or chronic illness to study and apply general fitness and movement principles throughout their lifelong participation in physical activity, exercise and sport. This complex is part of a larger project funded by Measure M, a $698 million general obligation bond provided and supported by the local community to modernize education facilities for all universities within the Coast Community College District. C.W. Driver Companies partnered with Little Diversified Architectural Consulting and Aquatic Design Group on the project.

Contact: Jade Terry, 512-415-6923

11/17/2020 Company News

Dermody Properties Acquires Two Logistics Buildings in Southern California

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 two Class A industrial buildings at 7580 and 7630 Cherry Avenue in Fontana. The buildings are currently occupied but will be available for lease in mid-April 2021 and early June 2021, respectively. Completed in 2008, each of the buildings features a 30-foot clear height, 18 dock high doors, two drive-in doors and an ESFR sprinkler system. 7580 Cherry Avenue offers 84,364 total square feet and 7630 Cherry Avenue offers 119,087 total square feet. There is a central, 179-foot concrete truck court and the two buildings are divisible to accommodate four tenants. “These buildings offer a unique opportunity for manufacturing, warehousing and distribution customers alike to lease Class A logistics space in an area where available inventory is limited,” said Matt Mexia, Partner in Southern California for Dermody Properties. “The Inland Empire West remains one of the strongest and most active industrial markets in the country with very low vacancy. We continue to aggressively pursue industrial acquisition and development opportunities in the region.” The properties are located less than two miles east of Interstate-15, just south of State Route 210 and north of Interstate-10. Corporate neighbors include Mercedes-Benz, Target, Cardtronics, LG and FedEx. Cushman & Wakefield’s Industrial Advisory Group West presented this opportunity to Dermody Properties. Phil Lombardo, Andrew Starnes and Cruise Adams of Cushman & Wakefield will be the leasing agents for the properties. “Dermody Properties has been active in Southern California and the Inland Empire for several years,” said Timothy Walsh, Partner and Chief Investment Officer at Dermody Properties. “We will continue to look for acquisition and development opportunities in this area that provide strategic and targeted solutions for our customers.”

Contact: Sara Robbins, 702-283-0447

11/12/2020 Deal

RanchHarbor and Stos Partners Close on San Diego Industrial Portfolio

RanchHarbor

RanchHarbor, a real estate investment firm based in Newport Beach, Calif., and Stos Partners, a privately held commercial real estate investment and management firm based in San Diego, today announced their joint venture partnership in the acquisition of two industrial properties, collectively referred to as the Benchmark Portfolio. The portfolio includes two free-standing industrial warehouses totaling 28,000 square feet in the San Diego submarkets of San Marcos and Poway. Both sites offer similar layout characteristics, with substantial excess land and low site coverage – a rare and distinctive quality that is in high demand. RanchHarbor and Stos Partners purchased the Benchmark Portfolio off-market, substantially below replacement cost and at an attractive basis. A five-year lease with the seller was negotiated as part of the transaction. RanchHarbor provided a full capital stack solution for the transaction. The company’s capital markets advisory platform, RH Advisors secured the debt in conjunction with Stos Partners. “The demand for industrial assets of this size and design in Southern California is tremendous from both a user and investor standpoint, and this strategic investment offers significant yield and upside potential for our investors,” said Steve Sims, managing principal at RanchHarbor. “We look forward to partnering with the Stos team on similar, future opportunities.” RanchHarbor and Stos Partners will begin capital improvements immediately on both Benchmark properties, positioning them for a long-term hold. The six-year business plan will allow the JV to provide a strong annual cash yield to its investors. Earlier this quarter, RanchHarbor acquired The Palms at Monte Vista, a 44-unit, Class B apartment community located in central Phoenix. The firm is actively seeking value-add and opportunistic general partner (GP) and limited partner (LP) commercial real estate investment opportunities in select western U.S. markets with targeted equity commitments between $2 million and $15 million.

Contact: NicoleDeermount , 949-274-3855

11/10/2020 Company News

Dermody Properties Leases 411,330 Square Feet in Rialto

Dermody Properties

Dermody Properties has leased LogistiCenter℠ at Rialto I Building 4, a 411,330-square-foot logistics facility, to a privately-owned-and-operated logistics company that stores and distributes products throughout the United States. The property is located at 1642 W. Miro Way in Rialto and is situated on 19 acres within the Inland Empire West Industrial Market. LogistiCenter℠ at Rialto is located within the established Renaissance Rialto master-planned development and offers immediate access to Interstate-210, Interstate-15 and Interstate-215. The area is home to corporate occupiers that include Amazon, Target, Under Armour, Ozburn-Hessey Logistics, Niagara Bottling, Medline Industries, Monster Energy, Distribution Alternatives and Lifetime Brands. David Consani, Jim Koenig and Dan de la Paz of CBRE represented Dermody Properties in the lease transaction, and Tim O’Rourke of JLL represented the customer. While LogistiCenter℠ at Rialto Phase I is now fully leased, buildings 8 and 9 within phase two of the master-planned development offer 258,737 and 79,430 square feet of available space, respectively. 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: Sara Robbins, 702-283-0447

11/09/2020 Deal

Caprock Partners Breaks Ground on 1.1 Million-Square-Foot Logistics Park in North Las Vegas

CapRock Partners

CapRock Partners, a leading industrial real estate investment and development firm, today announced it has commenced construction on CapRock Tropical Logistics, a two-building 1.1 million-square-foot logistics complex in North Las Vegas. Located at 5802 and 5902 E. Tropical Parkway, CapRock Tropical Logistics is developed on an 83-acre site that CapRock Partners assembled through the acquisition of 24 parcels from 13 owners in Q1 2020. In 2019, the firm successfully petitioned the rezoning of several of the parcels for industrial development. CapRock Tropical Logistics will comprise two class A buildings totaling 857,060 and 271,262-square-foot and is slated for delivery in Q3 2021. The largest building will be built-to-suit and occupied by an undisclosed e-commerce retailer who signed a long-term lease. The tenant also will benefit from approximately 17 acres of excess land south of the building, which CapRock Partners reconfigured to meet the tenant’s exact specifications, including providing additional parking. The second building totaling 271,262 square feet is a high visibility spec development with over 1,000 linear feet of I-15 frontage and was thoughtfully designed to accommodate either a single tenant or multiple tenants. A key consideration in the selection of the site was its prime location in the North Las Vegas speedway submarket, less than a mile from both Tropical Parkway and Speedway Blvd on/off-ramps to the I-15 freeway. CapRock Tropical Logistics will be less than 15 minutes from the Las Vegas Strip and McCarran International Airport and a one-day turnaround to the Long Beach and Los Angeles ports.

Contact: Alvina Olivier, 714-263-8742

11/02/2020 Deal

Caprock Partners Sells Phoenix Industrial Property

CapRock Partners

CapRock Partners, a leading industrial investor and developer in the Western U.S. with a robust portfolio of 23 million square feet, today announced the sale of one of its value-add assets, a 110,710-square-foot industrial property in the highly sought-after Phoenix Sky Harbor submarket. The asset was acquired by a global real estate investment advisor for an undisclosed amount. The property is currently fully leased by GREIF, a global leader in industrial packaging products and services. CapRock Partners acquired the property in 2017 in an off-market transaction as part of its value-add strategy. At the time of acquisition, the property had significant functional challenges and CapRock Partners implemented extensive capital renovations and improvements to elevate the asset to a Class A status. CapRock Partners enhanced the building’s functionality and curb appeal with a new storefront, windows and landscaping and upgraded the 30-foot clear, dock-high building with new ESFR sprinklers. It also reconfigured the yard area to create a fully secured truck court and added trailer parking stalls. The renovated building features 2,000 square feet of high-image office with Loop 202 freeway frontage, 22 dock-high doors and LED warehouse lights. Located at 225 S. 51st Street, the property enjoys an ideal location, minutes from Sky Harbor International Airport and with immediate access to local freeways. High-quality corporate neighbors include Amazon, Honeywell International, Inc., Boeing and Ferguson Enterprises.

Contact: Alvina Olivier, 714-263-8742

10/28/2020 Company News

Dermody Properties Acquires 70,209 Square Feet in Fremont

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 70,209-square-foot logistics facility at 45535 Northport Loop East in Fremont. The building is situated on 4.67 acres in San Francisco’s East Bay and was originally constructed in 1998. Dermody Properties will invest in significant exterior and interior capital improvements to the building, including a new roof. There is 49,615 square feet of available space within the building, which features a 20-foot clear height, four dock high doors and four drive-in doors. “The Fremont market continues to attract new companies and is a preferred location for manufacturers, especially those tied to the Silicon Valley,” said George Condon, West Region Partner at Dermody Properties. “This property offers direct access to Interstate 880 and provides customers with a strong employment base, drawing from the population of 216,000 people in Fremont.” Michael Karp and Victor DeBoer of Cushman & Wakefield represented Dermody Properties in the transaction and will be the leasing agents for the property. The region offers access to high-level engineering and manufacturing talent and a business-friendly environment. The East Bay has also become one of the largest light manufacturing and assembly centers, offering ample access to large blocks of high-quality infill assets to fulfill last-mile delivery expectations. “The vacancy rate for warehouse and manufacturing space in the region is low by historical standards. Demand remains high as manufacturing and distribution users are migrating from core submarkets of Silicon Valley,” said Shelagh Danna, Vice President at Dermody Properties. “This property presented a value-add investment opportunity that’s rare in a market such as this one.”

Contact: Sara Robbins, 702-283-0447

10/27/2020 Company News

Burke Construction Group, Inc. is proud to announce Stefanie Fassbender, Virtual Design & Construction Manager, has been named as one of the BuiltWorlds 2020 Adoption Leaders.

Burke Construction Group, Inc.

LAS VEGAS, October 27, 2020 - Stefanie Fassbender, Virtual Design & Construction Manager, was listed 16th on the BuiltWorlds 2020 Adoption Leaders 50 List. This list highlights team members that are in leadership roles within the AEC industry that help their companies discover, select and integrate new technologies into their operations. The 2020 Adoption Leaders 50 List focuses exclusively on the AEC Tech Adopters (https://builtworlds.com/insights/adoption-leaders-50-list-2020-copy/). BuiltWorlds seeks to find new and emerging technology that impacts the way projects are built. It is designed to drive innovation within the industry through collaboration by using tools, knowledge and inspiration to spark careers and grow businesses. As the Manager for Burke’s Virtual Design & Construction Department, Stefanie is responsible for leading Burke's innovation. This is accomplished through model coordination, renderings, and construction imagery- through the use of drones and 360 cameras. With almost five years of construction industry experience, Stefanie holds a Bachelor's of Engineering degree in Civil Engineering- Structures from The City University of New York and a Master of Science in Civil Engineering-Construction Management from the University of Wisconsin- Madison.

Contact: Gitana Cafasso, 702-786-9133

Prologis Cushman Wakefield