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
06/02/2020 Deal

Dermody Properties Acquires 9.49 Acres in Las Vegas for LogistiCenter℠ at Sunset

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has purchased 9.49 acres in Las Vegas for a new state-of-the-art facility that will be called LogistiCenterSM at Sunset. This 151,200-square-foot, e-commerce-ready property at Sunset Road and Bruce Street in Las Vegas is expected to be completed in the first quarter of 2021. The building is currently under construction and will be divisible to 20,000 square feet. It will offer build-to-suit office space and feature 33 dock high doors, six drive-in doors, a 32-foot clear height, 112 car parking spaces, a 135-foot truck court, LED warehouse lighting, tilt-up concrete panel construction, and an ESFR fire protection system. LogistiCenterSM at Sunset is located approximately 1 mile from the Interstate-215/Interstate-15 interchange, 5 miles from the Resort Corridor and within 10 miles of major FedEx and UPS distribution hubs. The property is adjacent to McCarran International Airport. Kevin Higgins, Garrett Toft, Jake Higgins and Sean Zaher of CBRE represented Dermody Properties in the acquisition of land and will be the leasing agents for the project.

Contact: Chrisie Yabu, 775-686-7437

05/29/2020 Personnel News

Tracy Allen Promoted to Vice-President

ECS

The ECS Group of Companies (ECS) is pleased to announce Tracy Allen has been promoted to Vice-President, Corporate Director of Client Relations. In her new role, Ms. Allen is responsible for overseeing national initiatives for client relationship and business development across ECS’ footprint. She joined ECS in 2000 and has 28 years of experience in business development and marketing. “Tracy’s engagement with industry organizations and her client relationships at the national and regional levels have contributed to ECS’ on-going success and growth for many years,” says Grant E. Walker, P.E., Corporate Director of National Accounts. “We look forward to presenting her with new challenges and opportunities with us in her new role.” “From the moment I started with ECS, I learned the importance of taking care of our clients and providing them with the best service possible,” says Allen. “ECS has been supportive of all my efforts throughout my career and I am happy to be part of such a great work-family.” Ms. Allen received her MBA from Marymount University with a concentration in Marketing, and her BS in Marketing and Management from Longwood University. She previously served as a Director of Corporate Marketing.

Contact: Julie Smith, 704-319-7833

05/27/2020 Deal

Dermody Properties Announces Completion of LogistiCenter℠ at Rialto I

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has completed the construction of LogistiCenter at Rialto I, Building 4, located at 1642 W. Miro Way in Rialto. The property sits on 19 acres within the Inland Empire West Industrial Market, and the building is immediately available for lease. LogistiCenter at Rialto I, Building 4 is a 411,330-square-foot distribution facility that features a 36-foot clear height, 2,363 square feet of office space, 244 auto parking stalls, 75 trailer stalls, LED warehouse fixtures and an ESFR fire protection system. LogistiCenter at Rialto is located in the established Renaissance Rialto Business Park with immediate access to Interstate 210, Interstate 15 and Interstate 215. The Renaissance Rialto Business Park is home to a prestigious list of corporate occupiers, including Amazon, Target, Under Armour, Ozburn-Hessey Logistics, Niagara Bottling, Medline Industries, Monster Energy, Distribution Alternatives and Lifetime Brands. Dan de la Paz, David Consani and Jim Koenig, all of CBRE, are the leasing agents for the property.

Contact: Chrisie Yabu, 775-686-7437

05/13/2020 Personnel News

Dermody Properties Hires Logistics Real Estate Veteran James Nass as Senior Vice President, Development

Dermody Properties

Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of logistics properties, has hired James Nass as Senior Vice President, Development. He is based in the company’s Chicago office. Nass’ responsibilities include providing due diligence, design, entitlement, budget and construction oversight for both investment developments for lease and build-to-suit projects. He will work closely with Neal Driscoll, Midwest Region Partner for Dermody Properties. “I am looking forward to working with the experienced team at Dermody Properties,” said Nass. “I value the company’s customer-focused strategy and I plan to continue building relationships and pursuing strategic opportunities throughout the Midwest.” Prior to joining Dermody Properties, Nass served as Vice President, Regional Property Improvement and Development Manager for Prologis. In that role, he oversaw both build-to-suit and fee development projects in Chicago, Tennessee and Indianapolis. Prior to joining Prologis, Nass was a project manager at Opus North Corporation, where he was responsible for the design and construction of office, industrial and retail facilities in the Chicagoland area. "We are confident that Jim’s vast experience will bring value to our customers,” said Driscoll. “His knowledge and proven track record in the industry make him a great addition to our team and we know he’ll thrive in this role.” Nass holds a Bachelor of Science degree in construction management from Bradley University in Peoria, Illinois and is a LEED® (Leadership in Energy and Environmental Design) Accredited Professional.

Contact: Chrisie Yabu, 775-686-7437

05/13/2020 Deal

Dermody Properties Acquires 172,445 Square Feet of Class A Logistics Real Estate in Northern 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 Goodrick Logistics Center in Richmond, Calif., consisting of two Class A e-commerce and distribution facilities at 2589 and 2593 Goodrick Ave. 2589 Goodrick Avenue is currently available for lease and can accommodate one or three tenants ranging from 15,000 to 57,872 square feet. 2593 Goodrick Ave. is fully leased to an international mattress distributor. “These buildings were developed to the highest institutional standards and in a location that offers access to the East Bay and the North Bay,” said George Condon, West Region Partner for Dermody Properties. “The available space is ideal for multiple users including regional and last-mile e-commerce distribution, retail, consumer products and durables, and manufacturers.” Mark Detmer, Bo Mills and Ryan Sitov, all of JLL, represented Dermody Properties in the sale. Jason Ovadia, Patrick Metzger, Eddie Shuai and Mike Murray, also of JLL, will be the leasing agents for the property. Located in the Bay Area’s industrial East Bay market, 2589 Goodrick Avenue was built in 2018 and is the only available newly constructed building smaller than 200,000 square feet in the East Bay. The building features a 24-foot clear height, 10 drive-in doors, 75’ by 65’ column spacing, LED warehouse lighting and an ESFR fire protection system. The property is situated within 15 miles of the Port of Oakland, with immediate proximity to Richmond Parkway, Interstate-80 and Interstate-580. Corporate neighbors of Goodrick Logistics Center include UPS, Whole Foods, Chevron, Safeway, Conoco Phillips and Costco Wholesale.

Contact: Chrisie Yabu, 775-686-7437

05/07/2020 Company News

CapRock Partners Promotes Taylor Arnett to First Vice President, Acquisitions

Caprock Partners

CapRock Partners, a private industrial real estate investment and development firm, is proud to announce the promotion of Taylor Arnett to first vice president, acquisitions. Arnett, who joined the firm in 2014, supervises CapRock’s acquisition efforts in Southern California and Southern Nevada and was instrumental in leading the company’s first expansion beyond California into Las Vegas. In his new role, Arnett will keep spearheading CapRock’s further expansion into new Western U.S. markets, including Salt Lake City and Sacramento. “In the span of three years, Arnett has led the acquisition of nearly 3 million square feet of industrial product across various Las Vegas submarkets and has greatly contributed to CapRock Partners becoming one of the fastest growing private industrial real estate firms in the Western U.S,” said Jon Pharris, co-founder and president of CapRock Partners. Arnett’s responsibilities include sourcing acquisitions, debt and equity, completing due diligence, underwriting and creating business plans for assets. He works across the company’s two investment platforms focused on the acquisition of middle-market, value-add industrial assets and developing large-scale institutional-quality, Class A industrial warehouse facilities. Arnett has been an active member of NAIOP for 12 years. In 2009 he completed the NAIOP SoCal Young Professionals Group (YPG) program, which is designed to educate, develop and elevate commercial real estate’s emerging leaders. Arnett has been active in the YPG Alumni Committee since then, including as chair of three sub-committees and as president of the YPG Alumni Committee, representing more than 300 alumni. Arnett also served on the NAIOP Southern California Chapter Board of Directors from 2017 through 2020. In 2016, he was presented with the NAIOP Developing Leaders Award, which recognizes rising commercial real estate professionals.

Contact: Alvina Olivier, 714-263-8742

05/07/2020 Deal

Dermody Properties Announces Completion and Partial Lease of 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 completed the construction of LogistiCenter at Speedway. The 251,800-square-foot distribution center is located on a 14-acre site at 6565 Nascar St. in North Las Vegas. There is currently 176,600 square feet available for lease. LogistiCenter at Speedway in the North Las Vegas submarket has immediate access to Interstate 15 via the Speedway Blvd. off-ramp and offers an unobstructed view from the interstate. “This is a state-of-the-art distribution facility in an ideal location for companies looking to target West Coast markets and beyond in a one- or two-day drive,” said John D. Ramous, Partner in Nevada for Dermody Properties. “Nevada’s business-friendly environment gives this property an added appeal.” 75,800 square feet has already been leased to Dialog Direct, a Qualfon company and full-service marketing solutions provider offering end-to-end direct mail, print and fulfillment services. For more than 40 years, Dialog Direct has been recognized within the print and fulfillment industry for creating unique partnerships that enable their clients to increase operational efficiency and decrease cost with a robust commerce management solution. Dialog Direct continues to grow its footprint by opening this fulfillment center on the West Coast, with an additional 25 sites around the globe providing contact center, print and fulfillment services. Dialog Direct is actively seeking additional clients to service in the new space. The remaining available space features a 32-foot clear height, 38 dock high doors, six drive-in doors, a 135-foot truck court, an ESFR fire protection system and tilt-up concrete panel construction. The space is divisible from 31,800 to 112,000 square feet.

Contact: Chrisie Yabu, 775-686-7437

04/30/2020 Company News

Dermody Properties Acquires Prime Logistics Real Estate 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 a logistics building at 3120 E. Mission Blvd. in Ontario. The building will be available for lease beginning July 1, 2020. Centrally located in the city of Ontario, the 121,836-square-foot facility is strategically located within a few miles of major freeways including Interstate-10, Interstate-15 and State Route 60. The property is 2.25 miles from the Ontario International Airport and approximately 60 miles from the ports of Los Angeles and Long Beach. Dermody Properties has plans to renovate 3120 E. Mission Blvd. by enhancing the loading, upgrading the fire suppression system to ESFR and improving the aesthetic of both the interior and exterior of the building. “This property’s premier location is one of its greatest assets and makes it ideal for distribution, manufacturing and e-commerce companies,” said Matt Mexia, Partner in Southern California for Dermody Properties. “There is a lot of potential for this property, either as a headquarters location with ample office space, or by downsizing the office area and converting it into an optimal distribution-ready facility.” Dan de la Paz of CBRE represented Dermody Properties in the sale. Corporate neighbors to 3120 E. Mission Blvd. include UPS, Uline, Volkswagen and Smart Warehousing. “The Inland Empire West is a highly sought-after market for distribution and e-commerce operations,” said Timothy Walsh, Partner and Chief Investment Officer for Dermody Properties. “It follows our investment strategy across the country of focusing on Tier 1 markets that are extremely attractive to our customers.” More information about 3120 E. Mission Blvd. is available on our website at https://dermody.com/region/southern-california-region/property/3120-e-mission-blvd/

Contact: Chrisie Yabu, 775-686-7437

04/14/2020 Personnel News

Mary Tortorici Joins Dermody Properties as Vice President, Property Management

Dermody Properties

Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of logistics properties, has hired Mary Tortorici as Vice President, Property Management. Tortorici will lead all day-to-day management of the company’s properties and customers in the Midwest, East and Southeast Regions, bringing with her more than 10 years of successful property management experience. She will be based in the Chicago office and will work closely with Elizabeth Teske, Senior Vice President, Property Management. Prior to joining Dermody Properties, Tortorici served as Senior Property Manager for Liberty Property Trust where she led overall operations and the financial success of 8 million square feet of logistics properties in the Chicago area. During her tenure, she successfully managed all capital and tenant improvements.

Contact: Chrisie Yabu, 775-686-7437

04/08/2020 Deal

Tratt Properties Affiliate Buys Orlando, Florida CVS Distribution Center for $41.2 Million

Tratt Properties

PBV Logistics Center LLC, an affiliate of Phoenix-based Tratt Properties LLC, has completed the $41.2 million purchase of a multi-building distribution center in Orlando, Florida. Located in the heart of the metro Orlando market, the asset is fully occupied under a long-term lease to CVS Health Corporation and serves as a key distribution point for the retail and pharmacy leader’s Florida supply chain. “This facility provides e-commerce and supply chain efficiencies for CVS at a critical time in our country and in a state that is one of the company’s largest U.S. markets in terms of total store locations,” said Tratt Properties Principal Jonathan Tratt. “The strength of the industrial logistics sector, combined with this building’s long-term credit lease to CVS, has us very confident in its longstanding value. We continue to pursue opportunities like this in strategic markets across the U.S.” Totaling 713,585 square feet on 42.96 acres, the Orlando CVS distribution center is comprised of a main building with 685,007 square feet of warehouse space and 16,650 square feet of office space, as well as 11,928 square feet of auxiliary buildings. Amenities include up to 35-foot clear height, 97 loading doors with dock levelers and state-of-the-art infrastructure to manage high-volume inventory and fulfillment operations. The asset is located at 8201 Chancellor Dr. in Orlando, Florida, minutes from the Florida Turnpike, Beach Line Expressway and Interstate 4. Cushman & Wakefield Vice Chairman Mike Davis represented PBV and the CVS building seller, Alegra Orlando LLC, in the transaction. PBV purchased the CVS asset in a 1031 exchange following its $34.9 million disposition last month of a 526,320-square-foot industrial property fully occupied by Pepsi in Winston-Salem, North Carolina.

Contact: Stacey Hershauer, 480-600-0195

04/02/2020 Company News

CAPROCK PARTNERS ACQUIRES STATE-OF-THE-ART DISTRIBUTION FACILITY IN PHOENIX

CapRock Partners

In a deal that bolsters its position in the strategically located southwest industrial submarket of Phoenix, California-based industrial real estate investment and development firm CapRock Partners today announced its acquisition of the newly constructed 7200 W. Roosevelt St. in Phoenix. The transaction brings a 216,880-square-foot Class A property into CapRock Partners’ growing Arizona footprint during a time of surging demand for e-commerce, nearly record-low vacancy rates in Phoenix and robust demand across all distribution sectors. Situated a quarter mile south of I-10, the location’s neighbors are comprised of dozens of household name brands and enables single-day deliveries to California, Dallas, Denver and Salt Lake City. “This is a very strategic location for manufacturers and e-commerce distributors alike,” said Bob O’Neill, senior vice president, acquisitions, of CapRock Partners. “With easy access to all the major markets in the Southwest, the property counts the likes of FedEx, PepsiCo, PetSmart and Amazon as its neighbors. This has enabled us to generate preliminary interest from a variety of tenants who want to lease the facility as a distribution hub.” Spanning 12 acres, 7200 W. Roosevelt St. was recently completed and was designed to accommodate up to two tenants. The building features the following amenities: • 32' clear height • 30 dock-high doors • Two grade-level doors • 48 trailer stalls • Fully secured concrete truck court • 3,600 amps, 277/480V power • 52’ x 55’ column spacing

Contact: Jade Terry, 512-415-6923

03/12/2020 Personnel News

Abby Glassberg Named Partner at KLNB

KLNB

Abby Glassberg, a principal at KLNB, the area’s largest privately held commercial real estate brokerage firm was named partner. Glassberg has over 27 years of commercial real estate experience in Maryland, starting as a developer representative before transitioning to brokerage and investment sales. Garnering acclaim from clients and colleagues alike, she is a past winner of the NAIOP Broker of the Year Award and 2018 NAIOP Transaction of The Year Award, three-time Maryland Top 100 Women Designee and inducted into the Circle of Excellence, and the Service Above Self Award recipient. Currently, she serves as vice chair of the Howard County Public Works board, sits on the Challenge race committee for Howard Community College and the Hero’s in Health Care committee for Howard County General Hospital, and chairs the Jewish Women Prison program at the Women’s Correctional Institution in Jessup.

Contact: Alex Thompson, 410-732-6542

03/12/2020 Personnel News

Ryan Moody Named Partner at KLNB

KLNB

Ryan Moody, a principal at KLNB, a leading provider of commercial real estate services throughout the mid-Atlantic region, has been named partner for the firm. With more than 15 years of experience in the commercial real estate industry, Ryan's primary focus is on the representation of landlords in the leasing and sales of warehouse, flex and office properties in Northern Virginia and Maryland. Ryan specializes in advising owners and developers on the marketing, positioning and lease up of their assets to achieve the highest returns. Additionally, he has represented a range of owners and tenants in the selection, purchasing, and/or disposition of properties throughout Northern Virginia and Maryland, and is an active member of NAIOP. Ryan holds a bachelor’s degree from Providence College and is a graduate of Georgetown Prep.

Contact: Alex Thompson, 410-732-6542

Cushman Wakefield CBRE