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.

10/28/2020 Company News

Dermody Properties Acquires 70,209 Square Feet in Fremont

Dermody Properties

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

Contact: Sara Robbins, 702-283-0447

10/27/2020 Company News

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

Burke Construction Group, Inc.

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

Contact: Gitana Cafasso, 702-786-9133

10/14/2020 Company News

Dermody Properties Acquires 11.06 Acres in Atlanta for LogistiCenter℠ at Miller Road

Dermody Properties

Dermody Properties has acquired 11.06 acres in Stonecrest, Dekalb County, for a new state-of-the-art distribution facility named LogistiCenterSM at Miller Road. This 154,440-square-foot, e-commerce-ready property located at 2800 Miller Road is expected to be completed in the third quarter of 2021. Construction will begin this year and the building will be divisible to 77,220 square feet. It will offer build-to-suit office space and feature 35 dock high doors, two drive-in doors, a 32-foot clear height, 145 car parking spaces, 23 trailer spaces, a 130- to 185-foot truck court, reinforced concrete floors with tilt-up concrete panel construction, and an ESFR fire protection system. The property benefits from direct access to Interstate-20 and proximity to Atlanta’s perimeter highway, Interstate-285. The property’s corporate neighbors include several large corporations including Marshall’s, Home Depot, Facebook, and Lidl. Austin Brannen and Matt Bentley of NAI Brannen Goddard will be the leasing brokers for the project. Jacob & Hefner Associates are engineering the site plans and Ware Malcomb is the architect for the shell design. LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class-A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies. For more information on LogistiCenterSM at Miller Road, visit the property page on the Dermody Properties website.

Contact: Sara Robbins, 702-283-0447

10/08/2020 Personnel News

The RMR Group Promotes Jennifer F. Francis to Executive Vice President

The RMR Group

The RMR Group Inc. (Nasdaq: RMR) today announced the promotion of Jennifer F. Francis to Executive Vice President. Ms. Francis will now be leading the entire asset management division of RMR, adding the senior living and hotel segments to her previous responsibilities of overseeing asset management for the office, industrial and retail segments and serving as President and Chief Operating Officer of Diversified Healthcare Trust (Nasdaq: DHC). Adam D. Portnoy, Managing Director, President and Chief Executive Officer of RMR, made the following statement about Ms. Francis’ promotion: “Over the past 14 years, Jennifer has played a critical and integral role in executing on our business strategy and growing RMR into the nationwide $32 billion alternative asset manager it is today. She is directly responsible for the creation and growth of RMR’s real estate asset management team, which today is responsible for all RMR-managed properties, overseeing more than 1,800 leases and close to 92 million square feet of commercial office, industrial, medical office, life science and retail space. Jennifer’s contributions to RMR are invaluable and I am confident she will continue to excel at RMR and continue to drive value for our shareholders and client companies.” Ms. Francis currently serves as President and Chief Operating Officer of Diversified Healthcare Trust (Nasdaq: DHC) and is also responsible for asset management and leasing activities at all RMR managed properties. Ms. Francis has more than 30 years of experience working in the commercial real estate industry. She is on the Executive Board of the American Seniors Housing Association (ASHA), a member of the National Association of Industrial and Office Properties (NAIOP) and a member of the Commercial Real Estate Women (CREW). Ms. Francis has been recognized by Real Estate Forum Magazine as a 2020 Woman of Influence and by Connect Media as one of its 2019 Women in Real Estate.

Contact: Christopher Ranjitkar, 617-219-1473

10/06/2020 Company News

C.W. Driver Companies Topped Out on $34 million Creative Office Building in Downtown San Diego

C.W. Driver

C.W. Driver Companies, a premier builder serving California since 1919, “topped out” on a $34 million, 90,000-square-foot creative office building for LeBeau Realty in the heart of downtown San Diego. The milestone was marked by the installation of the final steel structural beam on Thursday, Oct. 1, which was signed by Todd Rider, sr. project manager; Mike McConkey, sr. superintendent; Daniel Tillett, assistant project manager; Gilbert Agundez, assistant superintendent; Andy Feth, project executive and Richard Freeark, COO with C.W. Driver Companies. Centrally located at 450 B Street in proximity to notable restaurants, shopping and entertainment, the project includes a six-story, multi-tenant creative office building and a below-grade parking structure. C.W. Driver Companies led the demolition of an existing three-story branch bank structure, along with a portion of the existing plaza level deck. Extensive structural reinforcing and Fiber Reinforced Polymers (FRP) seismic upgrades are also being made to the existing parking structure to support the new office building. The parking garage will be connected to the facility with three, new nonstop elevators and a central staircase. The creative office will feature a state-of-the art design by global design and architecture firm Gensler and is aimed to achieve LEED silver certification. Led by C.W. Driver Companies Sr. Project Manager, Todd Rider and Sr. Superintendent, Mike McConkey, the commercial office project is on track for spring 2021 completion.

Contact: Angelyssa Granillo, 909-576-1758

10/06/2020 Company News

MVE + Partners Hires Architecture Industry Veteran to Expand Footprint in Salt Lake City and Beyond

MVE + Partners

MVE + Partners (MVE), a leading architecture, planning, interiors and design firm, announced the addition of industry veteran and architecture and business development professional Charles Pigg to its leadership team. Pigg joins MVE as Director of Utah as an independent consultant, where he will lead the firm’s business development initiatives and support the company in expanding its presence across the central U.S., with a focus on Salt Lake City and the greater Utah market as well as other neighboring and developing regions including Denver, Phoenix and Boise, Idaho. “I’m honored to join MVE and use my experience expanding architecture and design businesses, nationally and internationally, to help the firm further capitalize on the tremendous growth in the Salt Lake City region,” said Pigg. “My expertise in urban planning and deep understanding of the market will allow me to expand MVE’s portfolio of highly-walkable, live-work-play environments that are designed to deliver on local needs, revitalize communities and allow the city to grow in a way that’s smart, successful and enhances residents’ quality of life.” A well-known architectural designer, Pigg brings over 43 years of architecture and urban planning experience to the firm and a breadth of knowledge and passion for smart municipal growth. In this new role, Pigg will help strengthen the firm’s existing developer relationships, secure new partnerships and expand its work in Salt Lake City, with a focus on metropolitan and transit-oriented mixed-use, multifamily and commercial developments.

Contact: Angelyssa Granillo, 909-576-1758

10/05/2020 Deal

CapRock Partners Acquires 5-Acre, Permit-Ready Site in Northern Las Vegas With Plans to Develop 101,000-Square-Foot, Build-To-Suit Industrial Asset

CapRock Partners

CapRock Partners, a Newport Beach, Calif.-based industrial real estate investment and development firm, today announced the acquisition of an approximately 5-acre land site in the North Las Vegas submarket. Acquired from a commercial real estate investment firm for an undisclosed amount, this site will enable CapRock to provide build-to-suit solutions for distribution or manufacturing tenants in need of industrial space ranging from 45,000 to 100,000-plus square feet. “The recent surge in the adoption of e-commerce has driven industrial demand from e-commerce, third-party logistics and other companies that are experiencing a need to bolster their inventory and supply chain,” said Taylor Arnett, first vice president, acquisitions at CapRock Partners. “The site is ideally located to serve the needs of both manufacturers and distributers, whether they require convenient access to the Las Vegas Strip or need to leverage Las Vegas’ strategic location to reach 61 million people within a one-day truck service.” Over the past year CapRock Partners has been entitling the site, which is permit-ready for the construction of a freestanding 101,332-square-foot, Class A industrial building named CapRock Point @ Cheyenne and will be delivered within nine months of start of construction. Tenants will have the opportunity to customize building plans for build-to-suit. Current building plans include: • Opportunity to divide building into two units - a 45,507-square-foot unit and a 55,825-square-foot unit • 13 9-foot by 10-foot dock high doors • Two 14-foot by 16-foot grade level doors • 30-foot clear height • More than 100 parking spaces • 132-foot truck court, including 60-foot truck apron and 53-foot truck circulation area • 2,000 amps, 277/480v, 3-phase power • ESFR sprinkler system • R-19 roof insulation • Build-to-suit office space Located at 3919 E. Cheyenne Avenue, the site enjoys frontage visibility on Cheyenne Avenue and benefits from a prime location.

Contact: Alvina Olivier, 714-263-8742

09/30/2020 Deal

CapRock Partners Sells Value-Add, Class A Industrial Asset in San Diego

CapRock Partners

CapRock Partners, a Western U.S.-focused industrial real estate investment and development firm with a robust portfolio of more than 21 million square feet, today announced the sale of its Old Grove asset, an 85,824-square-foot freestanding industrial property in the Scripps Ranch area of San Diego. Situated on a 5.4-acre site, CapRock sold the institutional-quality, Class A facility to a high-net-worth individual for an undisclosed amount. The property is currently fully leased by Manscaped, which creates products for men’s grooming needs. “Back in 2017, our team saw the diamond in the rough in this Old Grove asset, which sits in a submarket that boasts vacancy rates as low as 4.1%, a number that has held relatively steady through the COVID-19 pandemic,” said Nicholas Ilagan, senior vice president, asset management at CapRock Partners. “Old Grove is a shining example of how a well-executed, value-add business plan can deliver a much-needed institutional-quality industrial product to an infill market where demand is outpacing supply. We feel extremely privileged to support the region’s needs during a time when a pandemic-fueled e-commerce surge is creating nearly unprecedented demand and reshaping industrial real estate for decades to come.” Located at 10054 Old Grove Road, CapRock Partners acquired the asset in January 2018 as a strategic addition to its value-add portfolio. The asset is within minutes of the I-15 and the I-5, two key logistics corridors through Southern California, and in close proximity to the Sorrento Valley Coaster Station, Montgomery-Gibbs Executive Airport and San Diego International Airport. At the time of acquisition, the 35-year-old property had significant functional challenges. Leveraging its expertise in value-add investments, CapRock implemented a top-to-bottom renovation plan to bring the property to Class A status.

Contact: Alvina Olivier, 949-463-0271

09/24/2020 Company News

Dermody Properties Acquires 127,000 Square Feet of Logistics Real Estate in North Las Vegas

Dermody Properties

Dermody Properties has acquired 4141 Distribution Circle, a 127,000-square-foot building in North Las Vegas. An expansion is currently underway on the property, named Distribution Circle Commerce Center, and is expected to be complete in the first quarter of 2021. Distribution Circle Commerce Center is strategically located on 12.91 acres in the North Las Vegas submarket. Upon completion of the expansion, the building will offer a total of 226,157 available square feet and feature a 29- to 32-foot clear height, 50’ x 50’ column spacing, 37 dock high doors, three drive-in doors, LED lighting and an ESFR fire protection system. “Nevada’s labor costs are among the lowest in the Southwest region of the country,” said John Ramous, Partner in Nevada for Dermody Properties. “This property is located in a market that currently employs more than 55,000 workers in logistics and manufacturing, and we expect to see continued growth.” With immediate access to Interstate-15, Distribution Circle Commerce Center is also in close proximity to Interstate-215 and US-95. It is located less than 20 miles from McCarran International Airport and within a two-day truck drive of 23 percent of the U.S. population. Xavier Wasiak, Rob Lujan and Jason Simon of JLL are the leasing agents for the property. “The collective focus of Dermody Properties is to continue offering logistics solutions that will enhance our customers’ manufacturing, warehousing and distribution operations,” said Timothy Walsh, Partner and Chief Investment Officer for Dermody Properties. “This property, especially once the expansion and renovation is complete, will be a preeminent opportunity in this market where Dermody Properties has been active for many years.” To learn more about Distribution Circle Commerce Center, visit https://dermody.com/region/nevada-region/property/distribution-circle-commerce-center/.

Contact: Sara Robbins, 702-283-0447

09/23/2020 Deal

CT REALTY BREAKS GROUND ON MAJOR LOGISTICS CENTER IN SOUTHERN CALIFORNIA

CT REALTY

CT Realty, in a joint venture with PGIM Real Estate, announces the development of Agua Mansa Commerce Park, a state-of-the-art multi-building logistics project in the heart of Southern California’s renowned Inland Empire industrial market. The fully entitled 4.4 million-square-foot project has undergone significant predevelopment by CT Realty, who will begin sitework immediately and plans shell completion of the first buildings by Summer 2021. PGIM Real Estate has invested in the development on behalf of institutional investors in its U.S. core plus equity fund. “Developing a project of this magnitude on a spec basis speaks volumes to the confidence we have in the overall market, the project, and in this fantastic location,” said Carter Ewing, managing partner at CT. “We are fortunate to have the strongest industrial market in the U.S. right here in Southern California, and consistent with our experience in other major markets across the country, we expect to see tremendous tenant interest. We are also extremely privileged to have the strong support of the talented real estate team at PGIM Real Estate behind us.” The joint venture between CT and PGIM Real Estate purchased the site from Denver-based Crestmore Development, managed by Viridian Partners, for an undisclosed price. While the land price for this transaction has not been confirmed, other comparable sales prices for entitled industrial land in the broader Inland Empire have exceeded $1 million an acre, putting the value of this land above $200 million. CBRE represented the Seller in the land sale, led by Darla Longo, Barbara Emmons Perrier and Dan De La Paz. CT Realty represented itself. Agua Mansa Commerce Park is in Jurupa Valley at the epicenter of the vast Inland Empire logistics infrastructure, providing immediate distribution access to 25 million people throughout Southern California.

Contact: Kristina Sarenas, 714-263-8750

09/22/2020 Company News

Dermody Properties Acquires Former Berkeley Farms Facility in Hayward for Redevelopment and Conversion to LogistiCenter℠

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 the former Berkeley Farms milk processing facility on 20.23 acres of land located at 25500 Clawiter Road in Hayward. Dermody Properties will demo the existing facility and redevelop the property, to become LogistiCenterSM at Highway 92. Located in the center of the San Francisco Bay Area, LogistiCenterSM at Highway 92 will consist of two Class-A logistics buildings totaling 382,290 square feet. Each building will be able to accommodate between one and three customers. Demolition work will begin in October 2020 with final delivery expected in the second quarter of 2022. Jason Ovadia of JLL represented Dermody Properties in the transaction. Listing brokers on the project will be Ovadia, Greg Matter and Mike Murray of JLL. “The Hayward submarket has become one of the largest warehousing and distribution centers in the Bay Area and is the second-largest industrial market along the I-880 corridor,” said George Condon, West Region Partner at Dermody Properties. “The property offers immediate access to Highway 92, Interstate 880, the Peninsula and the Port of Oakland. Its central location allows companies to reach the largest number of customers in the shortest possible time.” The existing facility was previously owned by the Dean Foods Estate. Once the redevelopment is complete, each of the two buildings at LogistiCenterSM at Highway 92 will offer a 36-foot clear height, seven-inch concrete slab, 130-foot truck court, and will be equipped with an ESFR fire protection system, making it ideal for e-commerce.

Contact: Sara Robbins, 702-283-0447

09/22/2020 Company News

H. HENDY ASSOCIATES COMPLETES HYBRID THERAPY CENTER AND COWORKING HUB FOR NEW WELLNESS COLLABORATIVE, ETHERA

H. Hendy Associates

H. Hendy Associates (Hendy), an award-winning interior architecture and planning firm, today announced the completion of a 4,654-square-foot therapy/counseling center for Ethera, an all-new collaborative care concept aiming to transform the experience of mental healthcare through the power of meaningful connection. Located in Irvine, the new center features myriad counseling and therapy rooms, a lobby space and a 918-square-foot coworking hub – all powered by proprietary technology developed by Ethera and designed to equip independent practitioners with the space and community resources to best serve their patients. With the goal to unite independent psychologists and therapists and provide a co-practice workspace free of high startup expenses and wasted office space, the coworking environment includes a mix of collaboration zones, touchdown areas and community spaces for members to collaborate, recharge and work independently. Ethera addresses the inherent difficulties seen in mental health and wellness private practices, including limited access to resources, on-demand workspace and an onsite community of like-minded professionals. “We’re honored to have worked with the team at Ethera to bring to life their vision for a new collaborative care concept that champions private practice,” said Megan Bethel, project manager at Hendy. “Our experience in imagining creative office spaces, healthcare and therapy facilities and coworking environments – coupled with our in-depth research practices including visioning sessions and journey mapping – enabled us to create a one-of-a-kind hybrid therapy and coworking center that delivers on the needs of members, patients and the local community.”

Contact: Angelyssa Granillo, 949-851-3080

09/09/2020 Deal

MVE + PARTNERS BREAKS GROUND ON $40M MIXED-USE DEVELOPMENT IN DOWNTOWN SALT LAKE CITY

MVE + Partners

MVE + Partners (MVE), a leading architecture, interiors and planning firm, announced it has broken ground on 6th & Main, a landmark 283,936-square-foot mixed-use development in the heart of downtown Salt Lake City. Designed for Salt Lake developer, Lowe Property Group, the 8-story structure will include 10,100 square feet of commercial space and 141,149-square-feet of residential apartments. Designed to revitalize the downtown region and infuse a new level of sophisticated urban living, 6th & Main will open for leasing in Fall 2022. Zwick Construction was selected as the general contractor for the project. “We’re honored to work with Lowe Property Group on another mixed-use development designed to help rejuvenate the downtown area,” said Pieter Berger, senior associate partner at MVE. “Built within walking distance to public transportation and complete with walkable amenities, 6th & Main will become a main artery to all that Salt Lake has to offer.” Situated at the gateway of downtown, 6th & Main will feature prime ground-floor commercial uses and much-anticipated community conveniences. The 170-unit residential community will include a mix of modern studio, one and two-bedroom market rate apartments for young professionals and small families. Additional resident offerings include a street level lounge, co-working space, parking garage, a fitness center and pool and spa. A centralized community, 6th & Main is located within minutes from Interstates 15 and 80, and within walking distance of Salt Lake’s eclectic shopping and vibrant nightlife scene.

Contact: Angel Granillo, 909-576-1758

09/01/2020 Company News

Dermody Properties Leases Remaining Space at LogistiCenter℠ at 395 in Reno

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has leased the remaining 47,952 square feet of space at LogistiCenterSM at 395 Phase II Building 1 in Reno to an existing customer of the property. “We are pleased that our customer has chosen to leverage this facility to continue to fuel the growth of its operation,” said George Condon, West Region Partner at Dermody Properties. “This region’s business-friendly environment, robust labor pool and access to major West Coast hubs make it a strategic location for all customers of this property.” Eric Bennett of CBRE represented both Dermody Properties and the customer in the transaction. The customer is a fulfillment company that already occupied 269,620 square feet in the building prior to the new lease. LogistiCenterSM 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. The property is just eight miles from Interstate-80, 12 miles from Reno-Tahoe International Airport, and within minutes of three major shipping providers – UPS, FedEx and OnTrac. Building 1, within Phase II of the park, is now fully occupied. “It’s a great sign for northern Nevada’s industrial market to see continued demand, especially during a pandemic,” said Elizabeth Kauchak, Chief Operating Officer at Dermody Properties. “As we continue to see an increased need for manufacturing, warehousing and distributing space in the region, we remain focused on new acquisition and development opportunities in northern Nevada and throughout the state.”

Contact: Sara Robbins, 702-283-0447

09/01/2020 Company News

RanchHarbor Launches Real Estate Investment Firm

RanchHarbor

RanchHarbor, a real estate investment firm based in Newport Beach, Calif., today announced its official company launch. RanchHarbor provides joint venture (JV) equity and general partner (GP) co-invest equity, targeting commercial and multifamily real estate investments between $2 million and $15 million in the western U.S. The firm also provides asset management, receivership and capital advisory services to institutional and private investors, asset owners and operators. RanchHarbor combines the real estate experience and industry knowledge of Isles Ranch Partners with that of former principals from Landmark Real Estate. RanchHarbor’s leadership team includes Tom Orradre, former chief executive officer of Isles Ranch Partners, in addition to Adam Deermount, Steve Sims and John Meek, formerly with Landmark Real Estate. RanchHarbor’s principals have been collectively involved in over $3 billion of real estate acquisitions, $12 billion of asset management and workout activity, and have advised on the placement of over $1.3 billion in real estate capital. “The RanchHarbor team is specialized in navigating complex transactions, managing troubled assets and uncovering value for key stakeholders,” said Deermount, managing principal at RanchHarbor. “Given the current turbulent economic environment and our focus on small-balance commercial and multifamily real estate investments, RanchHarbor is well-equipped to help the most sophisticated investors reach their investment goals.” RanchHarbor is a rebranded progression of Isles Ranch Partners, a real estate investment and asset management firm founded by Orradre in 2012. Isles Ranch has invested over $620 million of equity capital in distressed residential land development and homebuilding projects through a strategic partnership with a global private investment firm. Total revenue generated to-date from the portfolio exceeds $1.7 billion.

Contact: Nicole Deermount, 949-274-3855

08/25/2020 Company News

Dermody Properties Reaches Construction Milestone at LogistiCenter℠ at Southport

Dermody Properties

SACRAMENTO, Calif. — Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has reached a construction milestone at LogistiCenterSM at Southport in West Sacramento, completing the slab for the 379,161-square-foot, cross-dock logistics building. Dermody Properties will tilt the walls at the end of September and complete the building in the first quarter of next year. “The Sacramento market is currently experiencing an increase in tour activity for larger, e-commerce-compliant buildings,” said George Condon, West Region Partner at Dermody Properties. “The Southport Industrial Park is one of the preferred locations for companies serving the Greater Sacramento and Northern California markets." Strategically located within the 650-acre, master-planned Southport Industrial Park, LogistiCenterSM at Southport will offer a 36-foot clear height, 70 dock-high doors, four drive-in doors, 106 trailer stalls, 222 car parking stalls and a 135-foot truck court. Plans also include an ESFR fire protection system, a seven-inch concrete floor with concrete tilt walls, and build-to-suit office space. The building will be divisible to 75,000 square feet. LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class-A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies. For more information on LogistiCenterSM at Southport, visit our website: https://dermody.com/region/west-region/property/logisticenter-at-southport/.

Contact: Sara Robbins, 702-283-0447

08/18/2020 Company News

Dermody Properties Announces Completion of 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, has completed the construction of two buildings totaling 557,820 square feet in Eastern Pennsylvania. The property, LogistiCenter℠ at Lehigh Valley East, is located at 450-460 East Moorestown Road in Bushkill, which lies within the Northampton County submarket. Both buildings are immediately available for lease. Building 1 has 349,920 square feet of available space and offers a 36-foot clear height, 62 trailer spaces, one drive-in door, 197 car parking spaces and 1,750 square feet of office space. Building 2 has 207,900 square feet of available space and offers a 36-foot clear height, 39 trailer spaces, one drive-in door, 128 car parking spaces and 1,050 square feet of office space. “These state-of-the-art facilities are in a highly desirable location in the Lehigh Valley submarket, making the buildings ideal for companies wishing to relocate to or expand in Eastern Pennsylvania,” said Eugene Preston, East Region Partner for Dermody Properties. “LogistiCenter℠ at Lehigh Valley East demonstrates Dermody Properties’ commitment to this region and upholds our strategy to continue offering e-commerce-ready logistics properties for our customers.” LogistiCenter℠ at Lehigh Valley East is only 20 minutes from both I-78 and I-80. The property is 80 miles from the Port of New York and New Jersey and within proximity of the FedEx Ground Hub located in Bethlehem. LogistiCenter℠, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies.

Contact: Sara Robbins, 702-283-0447

08/12/2020 Personnel News

Dermody Properties Promotes Tyler Scheppmann to Senior Vice President of Investor Relations

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently announced that Tyler Scheppmann has been promoted to the role of Senior Vice President of Investor Relations. In this role, Scheppmann will take on additional leadership responsibilities as he collaborates with Kathleen Briscoe, Partner and Chief Capital Officer, on all aspects of the company’s business in investor relations, fund strategy and capital execution. “Tyler is an invaluable contributor to our team and continually exemplifies a wealth of industry knowledge,” said Briscoe. “Since joining Dermody Properties last year, he has maintained excellent relationships with our investors and customers while also demonstrating a deep understanding of our investment strategy.” Prior to joining Dermody Properties in 2019, Scheppmann was Vice President of GLP where he was responsible for fund management across the U.S. industrial platform, including strategy, syndication and communication with 14 global institutional fund partners across three funds totaling $7 billion in equity commitments. He also worked with internal groups to ensure alignment with the strategic targets of each fund. “I am honored to be a part of such a motivated and collaborative team that is supported by our best-in-class investor partners,” said Scheppmann. “In this new role, I will continue to focus on our current and future investor relationships while remaining committed to driving top results with our team.” Scheppmann holds a bachelor’s degree in finance from the Tippie College of Business at the University of Iowa and is active in various industry groups including PREA, NAREIM, ULI, NAREIT and NAIOP.

Contact: Sara Robbins, 702-283-0447

08/11/2020 Company News

Dermody Properties Breaks Ground on 4.69 Acres in Sonoma County for LogistiCenter℠ at Rohnert Park

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 land for a new Class-A warehouse in northern California. The project, LogistiCenterSM at Rohnert Park, is available for pre-leasing. Construction is underway and delivery is expected in the first quarter of 2021. LogistiCenterSM at Rohnert Park is located at 201 Business Park Dr., providing direct access to and site visibility from Highway 101. It is less than 30 miles from San Rafael. The 69,431-square-foot building will feature a 24- to 26-foot clear height, 50’ x 58’ column spacing, nine dock-high loading doors (with potential for two additional), four grade-level doors, ample yard space and an ESFR fire protection system. “This project will be a state-of-the-art logistics facility in the heart of the North Bay of San Francisco,” said George Condon, West Region Partner for Dermody Properties. “It also offers customers the unique opportunity to lease new construction in this area.” Trevor Buck of Cushman & Wakefield presented the development opportunity to Dermody Properties. Trevor Buck, Steven Leonard and Brian Foster of Cushman & Wakefield are the leasing agents for the property. “We are pleased to offer a logistics solution such as this one in Sonoma County,” said Timothy Walsh, Partner and Chief Investment Officer for Dermody Properties. “The location of LogistiCenterSM at Rohnert Park and its proximity to distribution hubs make this property a key asset in our development strategy.” LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class-A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies. For more information on LogistiCenterSM at Rohnert Park, visit: https://dermody.com/region/west-region/property/logisticenter-at-rohnert-park/

Contact: Sara Robbins, 702-283-0447

08/06/2020 Deal

Dermody Properties Announces New Lease at LogistiCenter℠ at Rialto

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has leased LogistiCenterSM at Rialto Phase II Building 7 to a new customer. The 202,260-square-foot logistics building is situated on a 10.57-acre site at 1855 W. Renaissance Parkway and was pre-leased prior to completion of construction. LogistiCenterSM at Rialto Phase II Building 7 is part of the Renaissance Rialto master-planned development in the Inland Empire West industrial market. “The Inland Empire is a highly sought-after area of the country and we continue to see unprecedented growth in this market,” said Matt Mexia, Partner in Southern California for Dermody Properties. “LogistiCenterSM at Rialto is a Class-A solution, offering excellent amenities to large companies operating on a global scale.” Dan de la Paz, David Consani and Jim Koenig of CBRE represented Dermody Properties in the lease. LogistiCenterSM at Rialto is strategically located between the Interstate-210, Interstate-15 and Interstate-215 freeways. The property is within 70 miles of both the Port of Los Angeles and Los Angeles International Airport. “Location is one of the most important logistics criteria for a successful supply chain,” said Elizabeth Kauchak, Chief Operating Officer at Dermody Properties. “LogistiCenterSM at Rialto provides customers with direct access to Southern California and the Western United States.” Corporate neighbors of the property include Amazon, Target, Kellogg’s and FedEx, among others. LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class-A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies. For more information on Dermody Properties’ active and available properties in Southern California, visit https://dermody.com/region/southern-california-region/.

Contact: Sara Robbins, 702-283-0447

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