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.

05/15/2019 Company News

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

Dermody Properties

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

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

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

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

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

Contact: Chriise Yabu, 775-686-7437

05/02/2019 Personnel News

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

Dermody Properties

RENO, Nev. – Dermody Properties announced today that West Region Development Director, Brendan Egan, has been promoted to the role of Vice President and National Account Manager at the company. Dermody Properties is a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector. In his enhanced role, Egan will be responsible for growing relationships with companies looking for logistics properties and with industrial brokers across the nation. He will be working with Dermody Properties’ Senior Vice President, Jeff Zygler, on national development initiatives and will also be focused on sourcing build-to-suits for customers. Egan is active in the industrial and commercial real estate community, and is a member of the Council of Supply Chain Management Professionals (CSCMP), Industrial Asset Management Council (IAMC), Warehousing Education and Research Council (WERC), southern Nevada Society of Industrial and Office Realtors (SIOR), and the northern and southern Nevada chapters of NAIOP (National Association for Industrial and Office Parks). Before assuming the position of Vice President and National Account Manager, Egan was the Director of Development in the West Region at Dermody Properties, overseeing the region’s acquisitions, developments and planning. About Dermody Properties Dermody Properties is a privately-owned real estate investment, development and management firm. The company specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third party logistics and distribution customers. Founded in 1960, Dermody Properties has invested in more than 83 million square feet of industrial space. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, New Jersey and Nevada. For more information visit www.Dermody.com.

Contact: Stephanie Kruse, 775-771-4510

05/02/2019 Personnel News

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

Burke Construction Group

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

Contact: Jaskinder Aujla, 702-522-2013

05/01/2019 Company News

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

CT Realty

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

Contact: Nicole Deermount, 714-263-8746

04/25/2019 Company News

SoundEarth Strategies Acquires EHSI

SoundEarth Strategies, Inc.

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

Contact: Christy Kobeski, 206-436-5929

04/24/2019 Company News

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

R.D. Olson Construction

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

Contact: Angelyssa Granillo, 714-263-8743

04/18/2019 Company News

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

Burke Construction Group

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

Contact: Jaskinder Aujla, 702-522-2013

04/16/2019 Personnel News

Dermody Properties Promotes Tim Walsh to Chief Investment Officer

Dermody Properties

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

Contact: Chrisie Yabu, 775-686-7437

04/15/2019 Company News

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

Idea Hall

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

Contact: Alvina Olivier, 714-263-8742

04/10/2019 Company News

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

R.D. Olson Construction

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

Contact: Angelyssa Granillo, 909-576-1758

04/10/2019 Company News

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

CT Realty

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

Contact: Nicole Deermount, 714-263-8746

04/09/2019 Company News

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

Calkain

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

Contact: Traci Bidinger, 703-935-0947

04/03/2019 Company News

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

H. Hendy Associates

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

Contact: Angelyssa Granillo, 714-263-8743

04/03/2019 Company News

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

MBK Rental Living

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

Contact: Melissa Goosen, 818-400-3843

03/29/2019 Company News

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

Newmark Knight Frank

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

Contact: Wesley Dickinson, 770-789-1891

03/29/2019 Company News

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

Cox, Castle & Nicholson LLP

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

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

Contact: Kristina Sarenas, 714-263-8750

03/29/2019 Company News

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

Calkain

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

Contact: Traci Bidinger, 703-935-0947

03/28/2019 Deal

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

Dermody Properties

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

Contact: Chrisie Yabu, 775-686-7437

03/28/2019 Company News

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

Burke Construction Group

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

Contact: Gitana Cafasso, 702-367-1040

03/27/2019 Company News

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

C.W. Driver Companies

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

Contact: Nicole Deermount , 714-263-8746

03/27/2019 Deal

CT Realty Sells Northern California Logistics Building For $105.3 Million

CT Realty

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

Contact: Nicole Deermount, 949-274-3855

03/27/2019 Company News

Calkain’s Fernandez Retained to Sell $9.5M

Calkain

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

Contact: Traci Bidinger, 703-935-0947

03/26/2019 Company News

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

Boston Capital

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

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

03/14/2019 Company News

Dermody Properties Completes Phase II of LogistiCenter at 395 in Reno, NV

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 second building of Phase 2 of LogistiCenter℠ at 395 in the North Valleys sub-market of Reno. More than 436,000 square feet of state-of-the-art logistics real estate space is immediately available for lease. LogistiCenter℠ at 395, Phase II, Building 2 is located at 8800 Military Road in Reno. LogistiCenter℠ at 395, Phase II, Building 2 has 36-foot clear height, 71 dock doors, 58 trailer stalls, 211 employee parking spaces, heavy power and dedicated truck circulation to both ends of the building. Within minutes of the three major shipping providers–UPS, FedEx and OnTrac–and bordering five states, northern Nevada is perfectly situated as the hub of the 11-state western region, with 53 million people within a one-day drive. Trucking services are provided in the area by over 65 local, regional and national carriers with shipments to 80 percent of the 11 western states occurring on a next-day basis. Resident national companies like Urban Outfitters, Newell-Rubbermaid (Marmot), Amazon.com, Ryder Logistics and Cardinal Health benefit from this submarket’s labor pool, numerous transportation options and competitive lease rates. PCCP, LLC is Dermody Properties’ strategic capital partner on the industrial park. Eric Bennett and Greg Shutt of CBRE, Reno are representing Dermody Properties on the leasing of LogistiCenter℠ at 395. 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: Chrisie Yabu, 775-686-7437

03/11/2019 Company News

C.W. Driver Companies Completes New $5.4 Million State-of the-Art Building for Braille Institute Anaheim Center

C.W. Driver Companies

ANAHEIM and PASADENA, Calif. – March 11, 2019 – C.W. Driver Companies, a legacy builder celebrating 100 years of service to the Western United States this year, today announced the completion of the Braille Institute Anaheim Center, a 14,700-square-foot building on the institute’s existing campus. The new state-of-the-art building replaces the institute’s former multi-structure facility and provides a larger unified space optimized to serve more visually impaired children, adults and seniors from Orange, Los Angeles and Riverside Counties. With the goal of helping Braille Institute improve its ability to help foster independence and confidence among those who are blind or have vision loss, C.W. Driver Companies tapped into its experience constructing specialized buildings and spaces for schools, universities and civic entities to build the institute’s new center. “To create an inspiring and purposeful resource for the visually impaired community in Orange County, our team leaned into our experience building modern specialized facilities to deliver a unique setting for education and gathering,” said Aimee Seimianowski, vice president of Driver SPG. “The expanded areas for programs and events at the improved Braille Institute, such as a low vision specialist room and a sight impaired training apartment, will play key roles in enabling the organization to continue teaching and providing support to those faced with vision impairment.” The Braille Institute’s new Anaheim structure provides a modern look and feel, featuring exposed roof trusses, an open center courtyard and custom fountain. The interior includes a 2,500-square-foot learning resource center featuring a library, computer lab, low vision consultation area and counseling space, as well as designated areas for Braille reading education and self-defense training. There is also a 2,100-square-foot multipurpose room, four classrooms, an art and ceramics studio, training kitchen and multiple technology labs.

Contact: Jade Terry, 714-263-8752

03/11/2019 Company News

CapRock Partners Completes, Sells 140,000-Sq.-Ft. Ground-Up Development in Corona

CapRock Partners

CapRock Partners, a California-based industrial real estate investment and development firm, today announced the completion and sale of Temescal Valley Commerce Center, a new 140,000-square-foot Class A industrial building in Corona, Calif. Brothers International Deserts, Inc., a Southern California-based ice cream manufacturer, purchased the property for an undisclosed amount. The completion of Temescal Valley Commerce Center solidifies a trifecta of strategic small-box industrial developments in Southern California’s Inland Empire market for CapRock Partners, with two additional properties in Norco and Jurupa Valley slated for delivery by end of 2019. Collectively, the three regional properties will generate eight small-box industrial buildings totaling nearly 900,000 square feet. Temescal Valley Commerce Center sits on 9.42 acres along I-15 near the Weirick Road off-ramp. The property is uniquely perched above the freeway, where an estimated 160,000 vehicles pass by each day, providing visibility and marketing exposure for the building’s tenant. 8.5 miles from the I-15 and SR 91 interchange, the property is located along prime transportation routes, providing efficient access to Orange County and the ports of Los Angeles and Long Beach. As an industrial warehouse under 140,000 sq. ft., Temescal Valley Commerce Center is designed to meet the needs of last-mile ecommerce users. The 32-foot clear height structure includes 11 high-dock doors, two ground level doors, eight excess trailer parking stalls, office suites and 90 parking spaces. “Temescal Valley Commerce Center is consistent with CapRock’s last-mile logistics strategy,” added Jon Pharris, co-founder and president at CapRock Partners. “The property’s Corona location along I-15 provides excellent access to key Southern California distribution nodes, in addition to OC, which our team recognized as a potential draw for businesses looking for value alternatives from the more expensive coastal submarkets.”

Contact: Nicole Deermount, 714-263-8746

03/04/2019 Deal

THE BLAU & BERG COMPANY ARRANGES LEASE OF 138,000 SF INDUSTRIAL PROPERTY IN ELIZABETH, NJ ON BEHALF OF THE PORT AUTHORITY OF NY & NJ

The Blau & Berg Company

The Blau & Berg Company recently brokered the lease of a 138,000 SF industrial property to DiPinto International Logistics, Inc., a specialist in transportation, freighting and warehousing based in Monroe, NJ. Brian DiPinto, Executive Director of The Blau & Berg Company, was the procuring broker representing both the buyer and owner in the transaction.  Located at 1400 Corbin Street in the heart of Elizabeth, NJ, the property is owned by the Port Authority of New York & New Jersey. Amidst a limited warehouse inventory in the market, the long-term lease transaction was ideal for DiPinto International, as 90% of their business is international calling in the ports of NY and NJ. The property features twenty-four bays, two drive-in doors, and yard space to accommodate up to thirty trailers.

Contact: Whitney Driver-Crimmins, 973-379-6644

03/04/2019 Deal

David S. Brown Enterprises Signs 1,171 Square-Foot Lease at Brookside Commons

David S. Brown Enterprises, LTD

Owings Mills, MD - (February 25, 2019) Hitakshar Enterprise, LTD. has signed a lease within the David S. Brown Enterprises, LTD. portfolio for 1,171 square-feet of space within Brookside Commons in Owings Mills, MD where they will open a Mathnasium learning center. The company, which provides children elementary through high school age with customized learning plans and instruction from experienced math tutors, will occupy space at 9433 Common Brook Rd. “We chose this area because it is one of the best neighborhoods in Owings Mills,” said Srinivas Gunukula, Managing Partner and Mathnasium Center Director. “Students will receive the fundamental practice they need to build computational skills, improve number sense, and develop an intuitive understanding of how numbers work. We are thrilled to be able to bring our Mathnasium Method to support the families of Owings Mills.” Mathnasium has opened over 1,000 locations worldwide since 2002, including 31 locations in Maryland. “We’re excited to bring such a beneficial tenant to our community,” said Ken Bernstein, Senior Vice President of Retail Leasing for David S. Brown Enterprises. “Mathnasium has an extensive history of providing invaluable education opportunities and we have no doubt that Mathnasium will be a wonderful addition to Brookside Commons.” Brookside Commons, a mixed-use Class A office and retail park, is located within Owings Mills New Town approximately one mile west of Interstate 795 via Owings Mills Boulevard and Lakeside Boulevard. For more information about Brookside Commons and leasing opportunities visit http://davidsbrown.com/property/brookside-commons-shoppes-offices/ About David S. Brown Enterprises, LTD. David S. Brown, a full-service real estate company founded in 1933, is headquartered in Owings Mills, MD. For additional information, please visit www.davidsbrown.com

Contact: Ron Miller, 410-581-2426

03/01/2019 Company News

ATISA Donates $1,000 to SIOR Foundation for Every Lease Signed in 2019

ATISA Industrial

ATISA Industrial has just announced their intention to donate $1,000 to the SIOR Foundation for every lease they sign in 2019. ATISA’s first donation follows the signing of the lease on the Azul building. Azul is a 58,431 sq ft. building, and was leased on January 4th, 2019 by Baja Recycling, a Chinese company that will represent a new wave of Chinese investment and growth in Mexico. “We believe the SIOR Foundation does important work, and we’re proud to contribute to it,” said Christian Carillo, CEO of ATISA Industrial.

Contact: Rick Chatham, 253-988-8802

02/26/2019 Deal

Dermody Properties Acquires 19 acres in Rialto, Calif. for new LogistiCenter(SM)

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 19-acre site in Rialto, Calif., in the Inland Empire West Industrial Market. It will be called LogistiCenterSM at Rialto I. Dermody Properties will soon begin construction of a 411,330-square-foot distribution facility, which the company expects will be complete by December 2019. The site is located in the established Renaissance Rialto Business Park with immediate access to Interstate 210 via Alder Avenue and is five miles east of the I-210/I-15 interchange. 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. The building features a 36’ clear height, a 185’ concrete truck court, and 49 dock-high doors, 77 truck trailer spots and 245 auto parking stalls making it ideal for e-commerce companies. Darla Longo and Barbara Perrier of CBRE represented all parties in the sale. Dan De La Paz, David Consani and Jim Koenig, also of CBRE, will be the leasing brokers for the project. HPA has been chosen as the architect and Fullmer Construction is the general contractor for the project.

Contact: Chrisie Yabu, 775-686-7437

02/25/2019 Company News

CapRock Partners Transforms Challenging Industrial Building Into Class A Space

CapRock Partners

Newport Beach and San Diego, Calif. – February 25, 2019 – CapRock Partners, a California-based industrial real estate investment and development firm, today announced it completed the repositioning of its Old Grove asset, a 85,824-square-foot freestanding industrial property, located on a 5.4-acre site within the Scripps Ranch area of San Diego. CapRock Partners acquired the property in January 2018 as a strategic addition to its value-add portfolio. The property was in a functionally obsolete condition at the time of purchase and had never previously been available. CapRock Partners implemented a top-to-bottom renovation plan to improve the property and bring it to Class A status. “When CapRock acquired the Old Grove asset, the building was in need of extensive capital improvements,” said Bob O’Neill, senior vice president of acquisitions at CapRock Partners. “The Central San Diego submarket is experiencing strong demand for industrial space with vacancy around a low 4.5 percent. With limited availability in the area, we identified an opportunity to reposition and add value to an underutilized building in a premier San Diego location.” The focus of the repositioning was to fundamentally transform multiple aspects of the over 35-year-old building. “We completely reimagined the building’s exterior, parking areas, landscaping and entry plaza in order to provide a sense of arrival for a future tenant,” added Nicholas Ilagan, vice president of asset management at CapRock Partners. “Extensive renovations to the interior office areas brought natural light to the space, along with new high-end Class A office finishes not typically found in industrial buildings.” The property’s design features a flexible floor plan to accommodate a variety of potential users. The site offers several layout options, an expandable secured parking area and alternative uses for the equipment yard. The property is located at 10054 Old Grove Road, approximately 15 miles north of Downtown San Diego, and easily accessible to the I-15.

Contact: Nicole Deermount, 714-263-8746

Marcus Millichap Cushman Wakefield