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.

01/15/2019 Company News

Boston Capital Invests in Two Affordable Multifamily Communities for Families with Southern Properties and Development in North Carolina

Boston Capital

Boston Capital is investing in the construction of two affordable apartment communities in North Carolina: Fieldcrest, a 56-unit development serving families in Farmville and The Reserve, an 80-unit development for families in Albemarle. These investments represent Boston Capital's first and second partnerships with Southern Properties and Development, based in Greensboro, North Carolina. "We are excited to team up with Tom Honeycutt, Brian Smith and Southern Properties and Development in the construction of 136 affordable homes for families in the Farmville and Albemarle areas," said Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital. "Solid job markets and growing economies are creating a strong demand for affordable housing in both areas, and we're eager to address this demand and help families and individuals in need of quality housing."

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

01/15/2019 Deal

Pipedream Signs Lease with ATISA for Violeta Building

ATISA Industrial

Contact: Rick Chatham, 253-988-8802

01/15/2019 Company News

Dermody Properties acquires 265,500 SF logistics building in prime California Inland Empire West submarket

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently acquired a 265,500-square-foot logistics building in an established industrial business park in Fontana, Calif. Dermody Properties will make improvements to the building in the first quarter of 2019, including upgrading the fire system to ESFR, making aesthetic changes and demising the building into two spaces, although the property will be available to either a one-or two-tenant scenario. The site is located at 14605 Miller Avenue, two miles east of I-15. It is accessible via either Foothill Blvd. or Baseline Ave. and is 3.5 miles from the I-210/I-15 interchange and 5.5 miles from the I-10/I-15 interchange. It is 10 minutes from Southern California’s Ontario International Airport. Ryan Athens and Hunter McDonald of CBRE represented the seller for the acquisition. Frank Geraci, Juan Gutierrez and Adam Geiger of VOIT Real Estate Services will market the space for Dermody Properties.

Contact: Chrisie Yabu, 775-686-7437

01/14/2019 Personnel News

Brandon Goucher Named Commercial Department Account Manager at Cavignac & Associates

Cavignac & Associates

Brandon Goucher, a 15-year-veteran of the insurance industry, has been brought aboard by Cavignac & Associates s Commercial Department Account Manager. Cavignac & Associates is a San Diego-based, 55-member risk management and insurance brokerage firm with specialized expertise in the design and building industry. Goucher will be the primary contact at the agency for his assigned clients, charged with managing their exposure to risk and negotiating their insurance.

Contact: Bonnie Kutch, 619-299-1010

01/11/2019 Deal

The Suddath Companies Acquires Perdue, Inc.

Suddath

The Suddath Companies announced that it has acquired Perdue, Inc., a North Florida leader in office furniture. The union of these two century-old companies gives Jacksonville and Tallahassee customers a complete solution to plan, furnish, relocate and support their ongoing workplace environments. “Clients can expect to experience the best of both companies – a total solution for all of the planning, furniture and moving needs a business has when contemplating re-engineering or relocating its workplace,” said Mark Scullion, president of Suddath Workplace and Commercial Services. The acquisition of Perdue, the only distributor of Steelcase products located in Jacksonville and Tallahassee, gives Suddath’s clients in these markets access to the world’s leading office furniture manufacturer. Steelcase leads the office furniture industry with insight-led design and services that create inspiring, people-centered workplaces, boosting productivity and employee engagement. “As we wrap up one of our best years ever, we are thrilled to have the opportunity to become part of the Suddath organization,” said Vince McCormack, president of Perdue, Inc. “It’s the perfect time for Perdue to reach beyond our current potential and continue to grow in North Florida.”

Contact: Shelby Boyd, 850-222-1996

01/09/2019 Company News

H. HENDY ASSOCIATES COMPLETES NEW CORPORATE HEADQUARTERS FOR BEHR

H. Hendy Associates

Award-winning interior architecture and planning firm H. Hendy Associates (Hendy) recently completed a new 230,000-square-foot corporate headquarters for Behr Paint Company, one of the nation’s largest suppliers of architectural paint and exterior wood care products. Located in Santa Ana at 1801 E. St. Andrew Place, Hendy delivered a branded-office environment that reflects the history and culture of Behr and Kilz paints and primers, supports the company’s growth and inspires existing and new talent. The new office features a variety of unique, urban spaces infused with state-of-the-art business technology to support employee collaboration and cross-functional work. Spaces include formal meeting, training and war rooms; ad-hoc workstations to foster teamwork and ideation; data and innovation areas; and the Behr Den, an indoor-outdoor space featuring a large patio with tiered seating. The den can also be used as an event space and is designed to comfortably fit 500 people. A hallmark of the new space is a 30,000-square-foot, state-of-the-art research and development laboratory featuring unique graphics, art and access to natural light. Through Hendy’s creative vision, the Behr and Kilz laboratory has become a vibrant and inspirational space for the company’s R&D team to create unparalleled products and materials. “Behr’s new headquarters is a celebration of the company’s dynamic ethos, innovative mindset and respected personnel,” said Jennifer Walton, principal and project director at H. Hendy Associates. “Our goal in this design was to create an intuitive workplace that gives employees a sense of community in a space that underscores the company’s brand at every turn.”

Contact: Angelyssa Granillo, 909-576-1758

01/07/2019 Personnel News

17-Year Insurance Veteran Carlota Kienke Joins Cavignac & Associates as Commercial Account Administrator

Cavignac & Associates

Carlota Kienke, a 17-year veteran of the insurance industry, has been hired as a Commercial Account Administrator for leading San Diego-based risk management and insurance brokerage firm, Cavignac & Associates.

Contact: Bonnie Kutch, 619-299-1010

01/03/2019 Deal

Dermody Properties leases 99,640 SF in Reno to Smart Warehousing

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently leased 99,640 square feet at LogistiCenter℠ at 395, Phase 1, Building A in Reno, Nev. to Smart Warehousing. A third-party logistics firm, Smart Warehousing offers warehousing and fulfillment services in more than 25 locations across 12 states. PCCP, LLC is Dermody Properties’ strategic capital partner on the industrial park. George Condon, West Region Partner for Dermody Properties will manage the transaction. Smart Warehousing is expected to bring 20 jobs to the region and marks the company’s first operation center in Nevada. LogistiCenter℠ at 395 is a multi-phase, master-planned industrial park totaling more than 2.8 million square feet in the North Valleys submarket of Reno-Sparks. With the addition of Smart Warehousing, all 1.25 million square feet of LogistiCenter℠ at 395, Phase 1, Building A is fully leased. LogistiCenter℠ at 395 is within minutes of the three major shipping providers — UPS, FedEx and OnTrac. Bordering five states, northern Nevada is perfectly situated as the hub of the 11-state western region, with 53 million people within one day's drive. Trucking services are provided in the area by more than 65 local, regional and national carriers with shipments to 80% of the 11 western states occurring on a next-day basis.

Contact: Chrisie Yabu, 775-686-7437

01/02/2019 Personnel News

COX, CASTLE & NICHOLSON LLP NAMES TWO NEW PARTNERS

Cox, Castle & Nicholson

Cox, Castle & Nicholson LLP, one of the preeminent full-service law firms focused on real estate in the United States, proudly announces the election of Alexander DeGood and Christopher Stark to the firm’s partnership. DeGood and Stark each have contributed significantly to the firm’s land use and joint venture practice teams, serving as counsel on myriad complex development projects that have significantly shaped California’s real estate landscape. “DeGood and Stark’s best-in-class legal services, passion and commitment to their practices have earned them the trust and esteem of clients and peers alike,” said Mario Camara, senior partner on Cox, Castle & Nicholson’s Management Committee. “We are proud of their accomplishments and look forward to their continued achievements as they advance our capabilities in two essential practice areas of our firm.” DeGood handles zoning matters, environmental compliance and litigation, with a focus on California Environmental Quality Act (CEQA) compliance. DeGood also maintains an active litigation practice. DeGood helped secure a $35 million settlement on behalf of Forest Lawn in 2017 to remedy damage caused by Caltrans freeway construction and improper maintenance. He also served as lead counsel to Philena Properties overseeing and managing every aspect of the entitlement process for one of Los Angeles’ largest mixed-use projects, the Martin Expo Town Center. As a transactional attorney in Cox, Castle & Nicholson’s joint venture team, Stark leverages more than two decades of experience to champion acquisitions, dispositions and sophisticated development work for institutional developers and homebuilders. He has extensive experience representing developers and investors in the formation of real estate joint ventures. Stark also is experienced in M&A deals, including those that involve extensive purchase agreement negotiations and risk management analysis. He is a member of the SoCal chapter of NAIOP and Lambda Alpha Los Angeles.

Contact: Kristina Sarenas, 714-263-8750

01/01/2019 Company News

Cavignac & Associates Employees Donate More than $21,000 to Local Charities

Cavignac & Associates

Here’s a great little business story about how one Downtown San Diego insurance brokerage company and member firm set up an Employee Charity Fund to enable employees to contribute to worthwhile community causes at Christmas: As part of a 19-year-long holiday tradition, the employees of Cavignac & Associates have donated $21,000 out of their own pockets to 17 local nonprofit organizations to help the under-serviced population of San Diego, including seniors, children and teenagers, the physically disabled, veterans military families, and the homeless. Nearly all of the firm’s 55 employees participated this year.

Contact: Bonnie Kutch, 619-299-1010

01/01/2019 Company News

Boston Capital Invests In Permanent Supportive Housing Community for the Homeless in Los Angeles with Affirmed Housing

Boston Capital

Boston Capital is investing in the construction of Aria Courtesy of Towaga Smith Martin Apartments, a 57-unit permanent supportive housing development serving the homeless in the Westlake/MacArthur Park neighborhood of Los Angeles, California. This investment represents Boston Capital's 27th partnership with Affirmed Housing, based in San Diego. "With our good friend and partner Jim Silverwood and the folks at Affirmed Housing, we are excited to be involved in creating much-needed supportive housing for individuals facing homelessness in Los Angeles," said Jack Manning, president and CEO of Boston Capital. "We are thrilled to be part of a team helping fill a great need for permanent supportive housing in California, and helping individuals transition from homelessness."

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

01/01/2019 Company News

Blake Cavignac Joins Cavignac & Associates as Growth & Development Advisor

Cavignac & Associates

San Diego businesses often struggle with how to effectively attract Millennials when filling positions within their companies, particularly those that are aging out and need to hire younger generation job candidates. More, they might not have protocols in place to identify, interview and select the best candidates to fit a particular position. Enter the Growth & Development Advisor who has his/her pulse on the millennial generation and guides a company on how to identify natural leaders, tailor training programs, build the right company culture, and manage millennials in the manner they desire. Such is the case at Cavignac & Associates, a downtown San Diego-based risk management and insurance brokerage firm, which recently recruited Blake Cavignac to provide this specialized expertise to help the company meet its aggressive growth goals in the coming years.

Contact: Bonnie Kutch, 619-299-1010

01/01/2019 Company News

Calkain Urban Advisors Bring Trophy $17.5M Washington, DC Neighborhood CVS to Market

Calkain

Calkain’s Jonathan Hipp, President and CEO, and Rick Fernandez, Senior Managing Director, will be bringing to market 3323 and 3325-3329 Connecticut Avenue, NW providing an exceptional opportunity to acquire 8,754 square feet of rock solid, street level, trophy Washington, DC real estate along the core retail block of the highly affluent Cleveland Park neighborhood. “This location has been in continuous operation as the neighborhood drug store since the 1950’s. Originally a Peoples Drug Store, CVS took over the space when it acquired Peoples Drug and renovated and expanded into the adjacent space at 3323 Connecticut Avenue in 2006-2007. The property underwent a complete store renovation again in 2010,” stated Fernandez.

Contact: Traci Bidinger, 703-935-0947

12/20/2018 Deal

Dermody Properties acquires 296,361 SF distribution center in Portland, 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 a 296,361-square-foot industrial manufacturing and warehouse building at 19730 NE Sandy in Portland, Ore. The property, located in the Northeast Columbia Corridor submarket, will be managed by the company’s Northwest Region office, led by Phillip Wood, Northwest Region Partner. The property has 12.09 acres of adjacent developable land, and is situated in an infill, land-constrained area. It enjoys excellent access to I-84 for east/west distribution and to I-205 which connects to I-5 for north/south distribution. The property will be available for a new customer as of Q1 in 2019. The purchase exemplifies Dermody Properties’ strategy to acquire or develop properties in land-constrained submarkets in key logistics markets across the U.S. Portland’s industrial market has experienced a dramatic shift over the past six years, with more and bigger users in the market. Portland’s population grew by 9.6 percent from 2010 to 2016, ranking it the 9th fastest growing U.S. city. This growth in metro area population has propelled strong demand from large e-commerce and distribution companies as they expand into new locations to service Portland’s growing consumer base. The Northeast Columbia Corridor is the largest and most active industrial submarket in the metro area and currently totals 38 million square feet with overall vacancy of just 6.7 percent. Over the past two years the Northeast Columbia Corridor has been the leading submarket of absorption in Portland, with 1,188,469 square feet absorbed in 2016 alone. Buzz Ellis, Paige Morgan, Craig Reinhart and Kevin Kriesien of JLL brought the opportunity to Dermody Properties. The project will be represented by JLL.

Contact: Chrisie Yabu, 775-686-7437

12/07/2018 Company News

Dermody Properties’ Annual Capstone Award Provides $50,000 to the Food Bank of Northern Nevada and BrainUp

Dermody Properties

Dermody Properties, a national real estate investment, development and management company, has announced the recipients of its Annual Dermody Properties Capstone Award. The Food Bank of Northern Nevada (FBNN) of Reno, Nev. and BrainUp of Frankfort, Ill., will each receive $25,000 to assist in their efforts during the holiday season. The Dermody Properties Capstone Award is presented each year to help nonprofit organizations address the increased need they experience during the holidays. Again this year, FBNN will use its award to help fund its School Pantry program to develop and stock food pantries in schools throughout the Washoe County School District. There are currently 21 school pantries operating in Washoe County. As part of the School Pantry program in 2017, FBNN distributed nearly 250,000 pounds of food to help over 3,800 students and their families have consistent access to healthy food. Students will take home nutritious food packages to help feed families and to ensure that children can come to school better nourished and ready to learn. Interested parties can help further the work of the FBNN’s School Pantry program by donating at fbnn.org. BrainUp works tirelessly with physicians and research professionals to one day find a cure for brain cancer. This year Dermody Properties presented $25,000 to BrainUp as part of its 3rd annual BrainUp 5K Run/Walk in Chicago to help fund brain cancer research efforts. More information, including how to donate, can be found at brainup.ngo. The Dermody Properties Annual Capstone Award is uniquely directed by the executive management committee of Dermody Properties, which includes CEO and Chairman Michael Dermody; President Douglas A. Kiersey, Jr.; Chief Financial Officer Douglas Lanning; Chief Capital Officer Kathleen Briscoe; Chief Operating Officer Elizabeth Kauchak; and Chief Acquisition Officer Timothy Walsh.

Contact: Chrisie Yabu, 775-686-7437

11/28/2018 Company News

R.D. OLSON CONSTRUCTION COMMENCES $30 MILLION RENOVATION FOR ATRIA SENIOR LIVING

R.D. Olson Construction

R.D. Olson Construction began construction on Newport Terrace Senior Living for Atria Senior Living in Newport Beach. The 120,000-square-foot assisted living community will be comprised of two parts – a new south wing and a fully renovated north building – featuring accommodation and community spaces for assisted living and memory care residents. Atria Newport Terrace Senior Living is the firm’s fifth senior housing project in Southern California and is slated for completion in summer 2020. “As baby boomers continue to enter retirement and require senior care, there’s a high demand for assisted living communities, especially in the beautiful coastal area of Newport Beach,” said Bill Wilhelm, president of R.D. Olson Construction. “We’re honored to bring new and existing residents at Atria Newport Terrace Senior Living a reimagined community that will elevate their quality of life and enhance their daily living experience.” Located at 393 Hospital Rd., the existing south building will be demolished and reconstructed as a 75,000-square-foot assisted living space featuring 85 residential units complete with kitchenettes. Amenities for residents will include a large, two-story living room with floor-to-ceiling windows and a two-story fireplace; dining room served by a new full-service kitchen; pre-dining lounge area; bistro; library and card room; theatre; activity rooms; music room; wellness rooms and an interior courtyard. The 45,000-square-foot north building, which is situated at 4000 Hilaria Way, will undergo a complete renovation to include 42 units for memory care and 42 units for assisted living. Amenities in the north building will include a country kitchen; dining rooms and gathering rooms; music room; card room; library; interior courtyard and activity rooms.

Contact: Angelyssa Granillo, 909-576-1758

11/26/2018 Deal

QuickLiquidity Loans $1.5 Million Against Portfolio of Partial Interests in Commercial Real Estate

QuickLiquidity

QuickLiquidity, a private equity firm investing in commercial real estate debt and equity nationwide, has announced that it has closed a $1.5 million loan. The loan is secured by a portfolio of illiquid and non-controlling ownership interests in over 30 different commercial real estate partnerships. The portfolio’s ownership interests are well diversified by both property type and geography. They include investments such as a 15% interest in a 405-unit apartment community in Brooklyn, NY, a 6.67% interest in a 367,000-square-foot office building in Wyomissing, PA, and a 12% interest in a 396-unit apartment community in Arlington, TX. The borrower, an experienced commercial real estate investor looked to monetize his portfolio of ownership interests in order to access capital to invest in a time sensitive real estate investment. Due to his interests being both illiquid and non-controlling, the borrower was unable to find any lender willing to use his interests as collateral until he was introduced to QuickLiquidity. QuickLiquidity has built a reputation for being the go-to lender for funding the commercial real estate deals other lenders won’t, all while providing quick underwriting, flexible terms and certainty of execution. By working with QuickLiquidity, the borrower was able to receive the capital he needed in the time frame he needed. “We have a tremendous amount of experience with purchasing and lending against minority interest positions in commercial real estate partnerships,” states A. Yoni Miller, Principal of QuickLiquidity. “Helping our borrowers with time-sensitive and complex transactions is at the heart of what we do every day. Our success is not only determined by the returns we generate, but by the relationships we build.” The borrower had received a term sheet from QuickLiquidity within only days of submitting information about his portfolio of ownership interests. It then took only three weeks for the ownership interests to be underwritten and the loan to be documented and closed.

Contact: Yoni Miller, 561-221-0881

11/19/2018 Company News

Burke Construction Group Announces Marketing Manager

Burke Construction Group

LAS VEGAS, November 19, 2018 - Burke Construction Group is pleased to announce the recent promotion of Gitana Cafasso as Marketing Manager. Gitana previously held the position of Marketing Coordinator since joining Burke in March 2017. Gitana is a 2017 graduate of the UNLV Lee Business School. While pursuing her degree she served as a Student Ambassador for the Lee Business School, worked as a Marketing Assistant for the UNLV Athletic Department and as a Marketing Intern for the NBA Summer League. During Gitana’s tenure at Burke she has built relationships among her peers by being a member of the National Association for Industrial and Office Parks (NAIOP), Nevada Contractors Association (NCA), Construction Leadership Council (CLC) and Association for Managers of Innovation (AMI). In addition, Gitana has been committed to the brand development and positioning of Burke in the market. As Marketing Manager, Gitana will continue to focus on Burke’s marketplace presence through internal and external messaging as well as the brand recognition of Burke. Kevin Burke, President & CEO, stated that “Gitana has earned this promotion with her passion, heart and work ethic.”

Contact: Jaskinder Aujla, 702-367-1040

11/13/2018 Personnel News

MIKE PALMER, SENIOR ASSOCIATE OF BRIDGE COMMERCIAL, EARNS CCIM DESIGNATION

Bridge Commercial

MIKE PALMER, SENIOR ASSOCIATE OF BRIDGE COMMERCIAL, EARNS CCIM DESIGNATION CHARLESTON, SC – After an extensive process, Mike Palmer, Senior Associate of Bridge Commercial, has earned his Certified Commercial Investment Member designation. “The CCIM lapel pin denotes that the wearer has completed advanced coursework in financial and market analysis, and demonstrated extensive experience in the commercial real estate industry. CCIM designees are recognized as leading experts in commercial investment real estate,” according to CCIM.com. Palmer began his coursework in January 2016 and received his pin in October 2018. Palmer is the fourth broker at Bridge Commercial to receive the CCIM designation. Bridge Commercial is a regionally-focused commercial real estate firm headquartered in Charleston, SC. Bridge’s brokers are best in class and known nationally for their experience and expertise. Bridge’s mission is to best serve our clients with the combination of collaborative teamwork, experienced and dedicated talent, and the leverage of technology and innovation. For additional information, contact Alicia Niland at alicia.niland@bridge.commercial.com.

Contact: Alicia Niland, 843-860-2101

11/01/2018 Company News

RETS Associates Announces 2018 Commercial Real Estate Financial Analyst Survey Results

RETS Associates

RETS Associates, a leading national real estate recruiting firm, has completed its 7th Annual Survey of Real Estate Financial Analysts in association with Charles Schilke, JD, Director of the Edward St. John Real Estate Program at Johns Hopkins’ Carey Business School. Over 200 financial analysts from across the nation with experience encompassing entry-level through five-to-seven years were polled on their salary, education, willingness to relocate and other applicable, work-related factors. This year, RETS’ survey findings presented a 180-degree shift in compensation for analysts with undergraduate degrees versus those holding graduate degrees. In 2017, the undergrads were big winners, but this year those who had earned MS/MBA degrees took home higher net salaries (i.e., base salary plus incentives.) Over a three-year period, analysts with graduate degrees showed a 30.8 percent wage increase, while those with a bachelor’s degree rose by only 19 percent. Regional wage disparities show that junior or senior analysts can expect to earn more in the Pacific Northwest and the Northeastern regions, which posted income growth of 30.5 percent and 29.5 percent, respectively. Averages in the Northwest may be driven by the greater Seattle area, which has seen rising demand due to aggressive expansion and development by Amazon, Microsoft, Google and other tech companies. Analysts at all levels look at compensation package, growth potential and geographical location when considering a job offer. However, in a change from previous years, junior analysts place equal value on compensation and growth potential, while senior associates and director-level specialists are more interested in geographical location. Other factors job candidates consider include the office culture, brand name of the firm and job title.

Contact: Angelyssa Granillo, 909-576-1758

10/30/2018 Company News

Casey Kreck named to Real Estate Forum’s 2018 50 under 40 in Commercial Real Estate

Dermody Properties

RENO, Nev. – Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, congratulates Casey Kreck, Senior Vice President of Finance, for being named one of Real Estate Forum’s 2018 50 under 40 in Commercial Real Estate. The national honor is given annually to leading professionals who have emerged as thought leaders in the commercial real estate industry early in their careers. As Senior Vice President of Finance, Kreck oversees all financial and reporting activities for Dermody Properties and works closely with the company’s President, Chief Financial Officer and regional partners across the country to ensure accurate and timely financial and operational results. He is also responsible for short, medium and long-term strategic forecasting, managing the financial strategy and detailed financial modeling for Dermody Properties’ entire industrial real estate portfolio. Kreck supports Dermody Properties’ national presence from its corporate headquarters located in Reno, Nev. He graduated from the University of Nevada, Reno with a Master in Business Administration and a Master of Science in Electrical Engineering. “Casey brings a very unique perspective to Dermody Properties with his solid engineering background and sound business acumen,” said Douglas A. Kiersey, Jr., President, Dermody Properties. “His innovative approach, pursuit for excellence and passion for the industry epitomizes what we stand for at Dermody Properties and why we’ve become a trusted partner in logistics and industrial real estate.”

Contact: Chrisie Yabu, 775-686-7437

10/24/2018 Personnel News

Attorney Jessica Paul Broussard Hired as Account Executive at Cavignac & Associates

Cavignac & Associates

Cavignac & Associates, a San Diego-based risk management and insurance brokerage firm, has hired Paul Broussard as an Account Executive. With five years of insurance industry experience, he will have dual roles servicing clients of the firm’s Professional Liability Department and handling the service needs of the company’s small- to mid-size accounts. He will also be responsible for new business development.

Contact: Bonnie Kutch, 619-299-1010

10/24/2018 Personnel News

Fauntelle Carrillo Hired as Account Executive at Cavignac & Associates

Cavignac & Associates

Fauntelle Carrillo, a 10-year veteran of the risk management and insurance industry and resident of Point Loma, has joined Cavignac & Associates as an Account Executive within the firm’s Personal Lines Department. Cavignac & Associates is a downtown San Diego-based risk management and commercial insurance brokerage firm, employing 55 people. The company established its Personal Lines Department in mid 2015 to fulfill its clients’ preferences for having their insurance matters consolidated with one trusted advisor. The company provides extensive knowledge and coverage for tangible assets such as high-value homes, luxury vehicles, collector cars, watercraft, aircraft and collectibles such as jewelry, wine, fine art and antique furnishings.

Contact: Bonnie Kutch, 619-299-1010

10/24/2018 Company News

Attorney Jessica White Fernandez & Fallon Broker $1.85M Sale of Capitol Hill Retail

Calkain

Calkain‘s Urban Investment Advisors team of Rick Fernandez and Andrew Fallon recently completed the sale of 749 8th Street, SE located in the Barracks Row area of the Capitol Hill neighborhood just north of the Navy Yard in Washington, DC. The 100% leased, 2,244 square foot, 2-story property is anchored by District Doughnut, a specialty doughnut shop, and the Skin Beauty Bar which offers luxury spa services. Calkain represented the seller in the transaction and the property sold for $1,850,000.00 or $824 per square foot. Fallon commented, “The property is well-located along 8th Street (Barracks Row), known for destination retail and eateries. Capitol Hill is one of the most sought-after DC neighborhoods, both in terms of residential and commercial stability, and opportunities like this one are rare due to the limited asset sales.” Calkain has sold similar assets from Georgetown to Shaw, and is feeling an uptick in demand for assets along the developing corridors and transitioning neighborhoods across the city.

Contact: Traci Bidinger, 703-935-0947

10/24/2018 Company News

Attorney Jessica White Fernandez & Fallon Bring Shaw Neighborhood Real Estate to Market

Calkain

Calkain‘s Urban Investment Advisors team of Rick Fernandez, Senior Managing Director and Andrew Fallon, Executive Managing Director, have been retained to sell 1539 7th Street, NW under a long-term stabilized lease to acclaimed cocktail venue and eatery The Passenger. Offered for sale is the fee simple ownership of the real estate under a landlord friendly lease with annual rent increases. Fernandez, stated, “Retail in DC has consistently performed well, and 1539 7th Street provides investors an opportunity to own street front retail with little to no landlord responsibilities and long-term ability to drive income through rent growth as the market matures.” Fallon added, “The property is ideally situated within one of DC’s most sought after and redeveloping neighborhoods and is a short walk to the Metro, City Market at O, and is well-positioned within the surrounding revitalization taking place in Shaw.”

Contact: Traci Bidinger, 703-935-0947

10/24/2018 Company News

Attorney Jessica White Boston Capital Invests in Multifamily Community for Families in Dulles, Virginia with Flatiron Partners

Boston Capital

Boston Capital is investing in the construction of Stone Springs Apartments, a 128-unit apartment community for families in Dulles, Virgina. Courtesy of Poole and Poole The developer partners include North Carolina-based Flatiron Partners, LLC, Van Metre Stone Springs Apartment Investment, LLC and Good Works LP. The development will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Loudoun County will provide a $3 million Housing Trust Fund loan. Located 25 miles west of Washington, DC, Stone Springs Apartments will serve families earning 60 percent or less of the Area Median Income (AMI). Stone Springs Apartments will include 32 one-bedroom, 84 two-bedroom and 12 three-bedroom units in two four-story, newly-constructed, elevator-serviced buildings. Unit amenities will include central heating and air conditioning, refrigerators, dishwashers, microwave ovens, full-sized washers/dryers and ceiling fans. A 2,992-square foot clubhouse/office building will feature a community room, business center, grilling area and a playground. The apartment community is well located with excellent access to the area's shopping, healthcare, employment, public schools, recreation, community services and secondary educational opportunities.

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

10/24/2018 Company News

C.W. Driver Companies Completes Construction on $40M Creative Office Complex at Former Site of San Diego Union-Tribune

C.W. Driver Companies

SAN DIEGO AND PASADENA, Calif. – Oct. 24, 2018 – C.W. Driver Companies, a premier builder serving California since 1919, today celebrated the completion of AMP&RSAND, a 330,000-square-foot Class A creative office center located on San Diego Union-Tribune’s former headquarters in the Mission Valley area of San Diego. The redevelopment of the 13-acre iconic campus included a major overhaul of a five-story office tower and a three-story industrial/office building. Each consists of 165,000 square feet, creating a modern and highly amenitized office complex. The re-imagined spaces incorporate the outdoors with parks throughout the property and along the adjacent San Diego River. The three-story building originally held the Union-Tribune’s printing plant and was built to withstand the heavy load of printing presses and other equipment. Faced with all brick exterior and concrete interior elements, C.W. Driver Companies was tasked with cutting through the thick composition to open interiors to more natural light, adding new large glass windows and doors. Designed by Wolcott Architecture, the AMP&RSAND redevelopment project brings the two dated buildings, originally designed and constructed in 1973, into the new era by incorporating modern design elements that pay homage to the property’s unique past. Thirteen-foot ceilings and new oversized windows bring in natural light, while the interior design creates an industrial loft-style feel with exposed brick, concrete pillars and polished concrete floors. The creative work space also incorporates the surrounding landscape to encourage working outdoors. The property now features nine patios and 64,000 square feet of outdoor collaborative space, in addition to an amphitheater for multi-function gatherings.

Contact: Jade Terry, 714-263-8752

10/24/2018 Company News

San Diego-based Cavignac & Associates Again Named Best Practices Agency by IIABA

Cavignac & Associates

San Diego-based Cavignac & Associates, a 55-member risk management and insurance brokerage firm, has been named a “Best Practices Agency” by the Independent Insurance Agents & Brokers of America (IIABA) for the eleventh year in a row. More than 1,500 agencies throughout the United States were nominated to take part in the IIABA annual study, but only 262 of them qualified for the honor. Cavignac & Associates was chosen based on its operational excellence and focus on identifying and managing exposures to loss in order to lower its clients’ total cost of risk.

Contact: Bonnie Kutch, 619-299-1010

PV|303 Prologis