Member News  

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

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

Update News
04/21/2021 Company News

Buckingham Strengthens Sustainability Commitment with Hiring of Katie Vrabel

Buckingham Companies

Buckingham Companies is pleased to announce that Katie Vrabel has joined our team as Director of Sustainability. As a certified LEED Green Associate and Fitwel Ambassador, Katie brings over 15 years of sustainability and energy expertise in commercial real estate to strengthen Buckingham’s commitment to energy leadership in the built environment and the environmental and sustainability aspects of Buckingham’s ESG strategy. Katie is a current board member for the Association of Energy Service Professionals (AESP) and serves on the Women IN Green Committee as part of the Indiana USGBC Chapter. Prior to joining Buckingham, Katie served as the Vice President of Waypoint Energy, a woman-owned commercial real estate consulting firm. She holds an MBA from Texas A&M and a BS from the Kelley School of Business at Indiana University. In her role with Buckingham, Katie will oversee all sustainability initiatives including further implementation of energy, water, waste reduction, solar installation, and LEED certified projects. Katie will work closely with Buckingham’s in-house real estate production, operations and asset management groups to integrate sustainable best practices and drive efficiency into all aspects of our business. “Buckingham has a strong record of sustainable building, and with Katie joining the team, we will be positioned to take our commitment to sustainable building to the next level.” Brad Chambers, CEO & President Buckingham Companies.

Contact: Jim Smith, 317-450-3954

04/15/2021 Company News

R.D. OLSON CONSTRUCTION BREAKS GROUND ON VISTAS AT GLENDORA, A CLEARWATER SENIOR LIVING PROJECT

R.D. Olson Construction

R.D. Olson Construction, an award-winning general contracting firm in California, today announced the groundbreaking of Vistas at Glendora, a Clearwater Senior Living project, which is a 117-unit, 107,980-square-foot assisted living and memory care facility in the San Gabriel Valley area of Los Angeles County. Construction is expected to complete Fall 2022. The senior living community will be comprised of 88 assisted living units and 29 memory care units, offering specialized care for people living with Alzheimer’s or another form of memory impairment. Residents will have the option of single or double occupancy rooms, with studios, one- and two-bedroom room layouts available. Twenty-four-hour care and concierge services will be available for all residents. “There is a significant shortage of senior living facilities in the Los Angeles area, and as the population ages the need for modern, highly amenitized facilities will continue to grow,” said Bill Wilhelm, president of R.D. Olson Construction. “Vistas at Glendora will provide excellent care for area seniors in an environment that is warm, welcoming and complete with a wide variety of activities and amenities for residents to enjoy.” Community amenities will include multiple dining venues, a wine vault, display kitchen, BBQ station, game room, theater, activity rooms, a lounge featuring a bar and piano, hair salon, state-of-the-art fitness center, art studio, four outdoor courtyards and a variety of indoor and outdoor seating areas. Vistas at Glendora, a Clearwater Senior Living project features a contemporary feel, with precast stone, brick veneer and other modern design elements. Located at 333 West Dawson Ave., the community is in close proximity to Los Angeles, the Inland Empire and Orange County, allowing convenient access for friends and family visiting from throughout Southern California. R.D. Olson Construction partnered with owner Clearwater Living, architecture firm AO, and interior designer Klang & Associates on the project.

Contact: Janelle Kruly, 714-436-0855

04/14/2021 Company News

Dermody Properties Leases Distribution Circle Commerce Center in Las Vegas to One Solution

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the lease of Distribution Circle Commerce Center to One Solution, a nationwide sales, marketing, consulting and training organization providing representation to best-in-class manufacturers in the industrial/MRO construction, safety, fire/rescue, utility, food processing and welding channels. One Solution will lease all 225,937 square feet of the building, located at 4141 Distribution Circle, which includes the recently completed warehouse expansion. Distribution Circle Commerce Center is strategically located on 12.91 acres in the North Las Vegas submarket. It is less than 20 miles from McCarran International Airport and within a two-day truck drive of 23% of the U.S. population. Xavier Wasiak, Rob Lujan and Jason Simon of JLL were the leasing agents for the property. Eric Molfetta of Colliers International represented One Solution.

Contact: Sara Robbins, 775-858-8080

04/01/2021 Company News

C.W. DRIVER COMPANIES BREAKS GROUND ON ELEMENTARY AND MIDDLE SCHOOL CONSTRUCTION PROJECTS FOR SAN DIEGO UNIFIED SCHOOL DISTRICT

C.W. Driver Companies

C.W. Driver Companies, a premier builder serving California since 1919, has broken ground on two modernization projects for San Diego Unified School District. The modernization of both La Jolla Elementary School and John Muir Language Academy will provide enhanced learning environments that optimize collaboration, enhance the educational experience and prepare students for the future. The whole site modernization of La Jolla Elementary School, which serves K-5 students, will upgrade the existing permanent buildings and add a two-story administrative and classroom building, kindergarten classroom buildings, lunch structure and an upper field restroom building. The administration and classroom building will create a single point of entry for the campus, and includes collaboration areas, restrooms and support facilities. An existing kitchen will be remodeled to provide an updated food service facility for students, and the current main campus administrative building will be converted to classrooms. The modernization will also feature technology and infrastructure upgrades, outdoor learning areas, a maker space, larger parking lot and on-site student drop-off. Domusstudio architecture is the architect of record for the project. Funded by Prop S, Z and YY bonds, construction is expected to complete in 2024. The whole site modernization project for John Muir Language Academy, which serves grades K-8, will update all existing permanent buildings and add a new two-story classroom and physical education locker room building, new administration building and expansion to the kindergarten and kitchen buildings. The project also includes reconfiguration of the existing parking and drop-off areas as well as the addition of a new staff parking lot with additional on-site drop-off. Baker Nowicki Design Studio is the architect of record for the project, and construction is expected to complete in 2023.

Contact: Janelle Kruly, 714-436-0855

03/23/2021 Company News

Curran and GA Blocker Announce Merger

Curran Contracting

Curran Contracting Company is pleased to announce the merger with G.A. Blocker Grading Contractor, Inc., bringing together their business operations and personnel. Operating under the Curran brand, this joining of forces will strengthen each organizations’ overall capacity and performance for their industrial, institutional and residential clientele. G.A. Blocker, founded in 1969, offers the ideal opportunity for Curran Contracting to strengthen and expand its service offerings in mass grading, asphalt paving and heavy highway infrastructure. With G.A. Blocker’s strong roster of existing clients and team of talented industry professionals, the merger supports the growth strategy of Curran to lead the commercial construction and heavy highway markets as a single provider to manage and self-perform all facets of site development. “This merger unifies more than 150 years of construction experience between two highly reputable companies. The combined strength of this group will allow us to provide even greater value to our construction industry partners,” explains Rick Noe, President of Curran Contracting. Matt Blocker, President of G.A. Blocker, also commented “As another family-owned company, we’re excited to partner with a firm like Curran that shares the same core values in life and business. This merger is truly combining the strengths of two families into a single dynamic team.”

Contact: Nick Schram, 815-455-5100

03/17/2021 Personnel News

LRS Architects Promotes Steve Mileham and T. Paul Frank to Senior Principals (Portland, Oregon)

LRS Architects

On behalf of Portland, Oregon based firm LRS Architects, I'm writing to share news of the promotion of Steve Mileham, NCARB, and T. Paul Frank, AIA, LEED AP, to Senior Principal. The promotions recognize the pair of professional’s 30 years of dedicated service to the firm, and their 20-year tenures as Managing Principals. The new positions and titles reflect the firm’s ongoing evolution, enabling Mileham and Frank to focus their energies on the firm’s clients and client development, as well as mentoring the firm’s staff.

Contact: Maia Hampson, 503-221-1121

03/11/2021 Personnel News

Spacewell accepted into Forbes Technology Council

Spacewell

Spacewell Americas MD Adrian Weygandt has been accepted into Forbes Technology Council, an invitation-only community for world-class CIOs, CTOs, and technology executives. Adrian Weygandt was vetted and selected by a review committee based on the depth and diversity of his experience. Criteria for acceptance include a track record of successfully impacting business growth metrics, as well as personal and professional achievements and honors. “We are honored to welcome Adrian Weygandt into the community,” said Scott Gerber, founder of Forbes Councils, the collective that includes Forbes Technology Council. “Our mission with Forbes Councils is to bring together proven leaders from every industry, creating a curated, social capital-driven network that helps every member grow professionally and make an even greater impact on the business world.” As an accepted member of the Council, Adrian will connect and collaborate with other respected local leaders in a private forum. He will also be invited share his expert insights in original business articles on Forbes.com, and to contribute to published Q&A panels alongside other experts. “I’m excited to join the Forbes Technology Council,” said Adrian Weygandt. “I look forward to contributing to the community and sharing Spacewell’s perspective at a time of heightened need for technology solutions for the workplace.” About Forbes Councils Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). For more information about Forbes Technology Council, visit forbestechcouncil.com. To learn more about Forbes Councils, visit forbescouncils.com. About Spacewell Spacewell is a global supplier of IWMS and smart building software. Using real-time IoT data analytics and apps, it supports building stakeholders to improve their portfolio performance, productivity, and service provision.

Contact: Adrian Weygandt, 207-460-4114

03/09/2021 Personnel News

Dermody Properties Hires Kelley Cook as Director of Property Management, East

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to welcome Kelley Cook as Director of Property Management, East. Cook will be responsible for day-to-day operations and property management activities across the Eastern United States. Her first day was March 3 and she reports to Elizabeth Teske, Senior Vice President of Property Management. “Kelley’s prior experience in marketing, property management, logistics and project management is ideal for this role,” said Teske. “She will be a valuable addition and asset to our team, bringing with her a wealth of knowledge.” Prior to joining Dermody Properties, Cook spent nearly 17 years at Prologis, initially assisting the property management team and then transitioning into the role of Market Officer Assistant and Leasing Coordinator in 2010. She assisted with the creation of marketing materials, proposals, leases and various other broker and customer agreements for the Indianapolis and Louisville markets. “Dermody Properties’ big-picture approach and values rooted in customer service are, in part, what attracted me to this opportunity,” said Cook. “I look forward to being part of a company with such an admirable reputation in the eastern part of the country and nationwide.” Cook holds an associate degree in legal and medical assisting from Vincennes University and she has maintained an Indiana Real Estate Broker License since 2014. Cook regularly volunteers with Habitat for Humanity and Million Meal Movement.

Contact: Sara Robbins, 702-283-0447

03/04/2021 Company News

Dermody Properties Leases 152,857 Square Feet in West Sacramento to LKQ Corporation

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 a portion of LogistiCenter at Southport to LKQ Corporation, the leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ will occupy 152,857 square feet of space, leaving 226,579 square feet available for lease within the building. Located within the 650-acre, master-planned Southport Industrial Park, the remaining available space at LogistiCenter at Southport offers a 36-foot clear height, 40 dock high doors, 3 drive-in doors, 54 trailer stalls, 214 car parking stalls and a 135-foot truck court. The building is also equipped with an ESFR fire protection system. Michael Lyons of CBRE is the leasing agent for the property. Jacob Bobek of CBRE represented LKQ. Tom Schaal and Mark Heavey of Schaal Realty Advisors are Dermody Properties’ partners. LogistiCenter, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies. For more information on LogistiCenter at Southport and the remaining available space, visit our website.

Contact: Sara Robbins, 702-283-0447

03/02/2021 Company News

Dermody Properties Announces Lease of LogistiCenter℠ at Midway South to Pregis, LLC.

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 LogistiCenter℠ at Midway South to Pregis, LLC., a leading global provider of innovative packaging and protective products. Pregis has leased the entire 304,000-square-foot building, located on more than 29 acres at 9024 Old Route 22 in Bethel Township, Pa. Pregis will use the facility to support their workforce growth as the company plans to add approximately 80 manufacturing positions by the end of April. Gerry Blinebury, Adam Campbell and Hunter Kessell, all of Cushman & Wakefield, were the leasing agents for the property. LogistiCenter℠, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies. For more information on current availabilities in the East Region, please visit the Dermody Properties website.

Contact: Sara Robbins, 702-283-0447

02/25/2021 Company News

C.W. DRIVER COMPANIES BREAKS GROUND ON 95,000-SQUARE-FOOT ATHLETIC CENTER FOR POMONA COLLEGE

C.W. Driver Companies

C.W. Driver Companies, a premier builder serving California since 1919, broke ground on the expansion of Pomona College’s Athletic and Recreation Center. The construction cost of the project is $43 million. Located in Claremont at 220 E. 6th St., the new 95,000-square-foot facility will provide additional space for the Pomona-Pitzer athletics program, while boosting health and wellness for all members of the community. The project will be a mix of renovations and new construction and introduce 15,000 square feet for additional training and weight rooms, dedicated areas for cardio exercise, athletic department offices, expanded locker rooms and more. The Athletic and Recreation Center is anticipated to reach completion by Fall 2022. Situated at the heart of the campus, the new sports facility and main entrance will serve as a campus focal point featuring an expansive arrival lobby and prominent display for the Pomona College Athletic Hall of Fame. Enhancements to the center will include expanded varsity and faculty locker rooms, a strength and conditioning center, additional training and conditioning space, an all-new, two-court practice and recreational gymnasium above the fitness area, three new team meeting rooms, individual offices for coaches and administrative staff and equipment storage space. To enhance the recreation, intramural and physical education programs, new locker rooms, a cardio and fitness center, additional studio and teaching space and shared access to new gymnasium facilities will be added. “We’re honored to partner with Pomona College to help imagine a state-of-the-art sports complex that serves the university’s growing varsity and athletic programs,” said David Amundson, project executive at C.W. Driver Companies. “The new Athletic and Recreation Center is designed to be a highly sustainable and modern facility that serves as a central hub for students, student-athletes and faculty alike to train, learn, compete and build community through sportsmanship.”

Contact: Angelyssa Granillo, 909-576-1758

02/24/2021 Company News

Dermody Properties Hires Cara Wright as Senior Investment Manager

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to welcome Cara Wright to the team in the role of Senior Investment Manager. Based in Southern California, she will be responsible for supporting the team’s investment and development initiatives and will report to Matt Mexia, Partner in Southern California. “Cara has a strong background in leading business development and strategic efforts throughout the West Coast that will be a significant asset to the Dermody Properties team,” said Mexia. “I look forward to working with her and to our future growth in the region with her added expertise.” Before joining Dermody Properties, Wright was an Investment Coordinator at CenterPoint Properties, where she coordinated the acquisition and closing of approximately 4 million square feet of industrial properties across the Los Angeles, Oakland and Seattle markets, valued at approximately $500 million. She was also an intern at Greenlaw Partners, where she was an analyst for the industrial acquisitions team in markets including Los Angeles, Orange County, Phoenix and Salt Lake City. “I am thrilled to join Dermody Properties and to have this opportunity with a company that has a steadily growing footprint in Southern California,” said Wright. “I look forward to collaborating with and supporting a best-in-class team to continue providing excellent logistics solutions for customers.” Wright is a member of both the Urban Land Institute and NAIOP and has co-founded a Young Women in Industrial Real Estate networking group. She received her Bachelor of Arts degree in Communications and Public Relations from Michigan State University and a Master of Real Estate Development from the University of Southern California.

Contact: Sara Robbins, 702-283-0447

02/23/2021 Company News

Dermody Properties to Develop a Three-building Logistics Park in New Jersey

Dermody Properties

Dermody Properties will begin construction this spring on a 154-acre park for a planned, three-building development in Woolwich Township, Gloucester County, New Jersey. The project will be marketed as LogistiCenter℠ at Woolwich. CBRE has been selected as the exclusive agent for the park. Once complete, the three buildings will offer 262,200 square feet, 552,585 square feet and 336,700 square feet available for lease. The Class A, state-of-the-art facilities will each feature a 36 to 40-foot clear height, build-to-suit office space, ESFR fire protection systems, 50 to 110 dock high doors, drive-in doors and ample trailer and car parking. LogistiCenter℠ at Woolwich is located at the intersection of Route 322 and Locke Avenue in Woolwich Township. Dermody Properties will make significant improvements to the intersection in conjunction with the development of the park. A recent labor study done by CBRE, in conjunction with Dermody Properties, shows that there is a good balance of residents with manufacturing or distribution experience, recent high school graduates looking for entry-level roles, and college graduates looking for advanced or leadership roles, all within a 30-minute drive of this property’s location. LogistiCenter℠ at Woolwich is located less than two miles from Interstate-295 and less than three miles from Interstate-95. Because of its proximity to Philadelphia and Wilmington, DE, this direct highway access will allow customers to reach 33% of the U.S. population in a single day’s drive and three million people within a 40-minute drive. Surrounding national companies include Amazon, Exxon, Target, Lineage Logistics and XPO Logistics. Dermody Properties has a history of success in the region, exemplified in part by the development of LogistiCenter℠ at Logan, a Class A business park with more than 5.5 million square feet of warehouse, distribution and manufacturing space that is also located in Southern New Jersey.

Contact: Sara Robbins, 702-283-0447

02/22/2021 Deal

RanchHarbor and Manhattan West Real Estate Acquire Industrial Infill Property in Signal Hill

RanchHarbor

RanchHarbor, a real estate investment firm based in Newport Beach, Calif., and Manhattan West Real Estate, a fully integrated real estate investment and management firm based in Los Angeles, today announced their joint venture (JV) partnership in the acquisition of a .79‐acre value-add industrial property located in Signal Hill, Calif. The property consists of two single-tenant industrial buildings totaling 18,682 square feet with a shared, secured yard. The JV purchased the property off-market, substantially below replacement cost and at an attractive basis. It acquired one building with substantial term remaining on the lease and one building vacant at closing. The business plan is to perform deferred maintenance and capital improvements to the property including “white boxing” of the vacant building to improve its marketability and make it move-in ready. “We are pleased to partner with Manhattan West, a well-respected operator with a solid track record, on this investment,” said John Meek, managing principal at RanchHarbor. “This is a rare opportunity to invest in Signal Hill, a submarket with extremely low vacancy rates and a short supply of industrial spaces of this size and specifications. The property is an excellent addition to RanchHarbor’s growing portfolio as we continue to find undervalued opportunities in the ‘small cap’ sector with proven operating partners that know their markets well.” RanchHarbor provided a full capital stack solution for the transaction. The company’s capital markets advisory platform, RH Advisors sourced a 36-month, attractively priced, fixed-rate non-recourse bridge loan from a bank lender. This debt structure will allow for maximum flexibility in executing the business plan while mitigating exposure to interest rate fluctuations. The property is located at the northeast corner of Walnut Ave. and E. Burnett St., proximate to the San Pedro Bay Port complex and easily accessible to air freight travel at the Los Angeles International and Long Beach Airports.

Contact: Nicole Deermount, 949-274-3855

02/03/2021 Company News

Dermody Properties Hires Ryan Sikorski as Vice President of National Account

Dermody Properties

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has hired Ryan Sikorski as Vice President of National Accounts. Sikorski is based in the Chicago office and will work closely with the senior leadership team at Dermody Properties on national development initiatives. Prior to joining Dermody Properties, Sikorski spent eight years at Modlo, the logistics real estate operating platform of GLP Capital Partners, and its predecessors, GLP-US and IndCor Properties. His primary focus was the acquisition and development of industrial properties in key logistics markets across the country. As part of the U.S. investments team, he was responsible for the underwriting and execution of more than $2 billion and 25 million square feet of acquisition, development and disposition activity. Sikorski began his career with Ernst & Young, where he provided financial assurance services to public and private clients across the manufacturing, distribution and financial services industries. Sikorski is an active member of NAIOP and ULI and was recently appointed to the NAIOP Chicago Chapter’s Developing Leaders Board. He is also a member of the NAIOP Developing Leaders XIX National Forum. He holds both a Bachelor of Arts and a Master of Science degree in accounting from the Eli Broad College of Business at Michigan State University, where he most recently served as an External Advisory Board Member.

Contact: Sara Robbins, 702-283-0447

01/29/2021 Personnel News

Powers Brown Architecture Promotes Bruce J. Walck to President

Powers Brown Architecture

Bruce J. Walck, AIA, MRAIC, has been promoted to president of Powers Brown Architecture, an international professional services firm practicing architecture, interior design, programming and urban design. Principal Lauren Amber Prestenbach, RID, LEED AP ID+C, EDAC, IIDA, a LEED and Evidence-Based Design Accreditation and Certification-accredited commercial interior design professional, relocated to Houston. Walck, responsible for the firm’s operations and efficiencies, will develop strategic initiatives to expand its multifamily, manufacturing, medical and industrial work. He will continue to work closely with clients in corporate office, mixed-use, multifamily, government and industrial design. “He is the rare architect who really is a collaborator,” said Jeffrey Brown, FAIA, Founding Principal and CEO. “Many of his clients consider him not only a colleague but a friend. Internally, he has developed into the shepherd of our leadership team, guiding us all in finding innovative, logical solutions to day-to-day and long-term challenges.” Walck joined Powers Brown in 2003 and became the firm’s first new principal in 2008. He earned a Bachelor of Architecture and a Minor in Construction Management from Drexel University. “Not only does Lauren Amber create innovative corporate spaces, but she also has the technical know-how to work though the intricacies related to health-care design,” said Brown. Engineering News Record named her a 2021 “20 Under 40” honoree for her work to help pass Colorado legislation for interior design professionals to become legally recognized and licensed to ensure their design qualifications and education. She is affiliated with NAIOP, CoreNet, National Council for Interior Design Certification and IIDA. With offices in Houston, Washington, D.C., Denver, Toronto and St. John’s, the award-winning firm maintains a diverse architecture design, space planning and urban design practice with a reputation for specialized design and technical superiority.

Contact: Susan Farb Morris, 713-805-2608

01/28/2021 Company News

H. HENDY ASSOCIATES COMPLETES 5,000-SQUARE-FOOT HEALTHCARE FACILITY FOR METAGENICS

H. Hendy Associates

Interior architecture and planning firm H. Hendy Associates (Hendy) announces the completion of a new state-of-the-art patient-centric destination for global lifestyle medicine company Metagenics Clinic in Aliso Viejo. The 5,000-square-foot Personalized Lifestyle Medicine Center creates an innovative healthcare experience and transforms how primary care is delivered by enabling doctors and patients to take a 360-degree approach to their patients’ overall health and wellbeing. The new facility is adjacent to the Metagenics corporate office located at 25 Enterprise and is open for medical visits as well as chiropractic, lifestyle education, massage therapy, lab work and more. Dedicated to scientific discovery, unparalleled quality and practitioner partnerships, the design of the space distinctly captures Metagenics’ desire to support the continued advancement of functional medicine through empowering patients to better understand and develop the health skills necessary to advance the state of their metabolic, emotional, cognitive, behavioral and physical function. The space takes a novel approach to a traditional medical facility, encourages the elimination of barriers between doctor and patient and empowers clients to take charge of their health journey. “When we were hired by Metagenics to create a solution that addresses their primary business challenge of making an even greater impact on their patients’ lifelong health goals, we immediately took on the task,” said Jeep Pringsulaka, LEED AP and senior designer at Hendy. “Hendy believes in the power of listening and learning to unlock a great design that uniquely fuels our clients’ business success. We’re privileged to have played a part in helping Metagenics create an inspiring environment that accelerates their commitment to personalized healthcare – an innovative approach to medicine that’s tailored to individual needs and capabilities – and focuses on supporting patients throughout the journey to optimal health.”

Contact: Angelyssa Granillo, 949-851-3080

01/28/2021 Deal

Caprock Partners Acquires 13-Acre Industrial Land Site In Southwest Las Vegas

CapRock Partners

CapRock Partners, a leading industrial real estate investment, development and third-party asset management firm, today announced the acquisition of a 12.95-acre industrial parcel in the Southwest Las Vegas submarket. After successfully petitioning the rezoning of the site, CapRock Partners acquired the land from a local investment group for an undisclosed amount to develop a three-building industrial park totaling 230,000 square feet. Situated at the junction of South Riley St. and W. Hacienda Ave., the property sits amidst residential neighborhoods and dispersed office buildings. Initially zoned for office development, CapRock Partners leveraged its development expertise to re-zone the site for industrial use. The firm worked closely with Clark County and the site’s neighbors to design three freestanding Class A spec buildings with high-end finishes and an exterior façade that will seamlessly integrate with its surroundings. The property provides direct access to the 215 beltway and is minutes from luxury Southwest neighborhoods such as the Summerlin, which was named National Association of Homebuilders’ 2020 Master-Planned Community of the Year. It is ideally located to accommodate light industrial users who cater to the high-end residential neighborhoods nearby. The multi-building industrial park will comprise: • A 132,450-square-foot building with 28-foot clear heights, five grade-level doors and 26 dock-high doors • A 75,836-square-foot building with 24-foot clear heights, five grade-level doors and 22 dock-high doors • A 21,976-square-foot “jewel box” building with 24-foot clear heights, one grade-level door and two dock-high doors. In addition, the property will feature a 180-foot shared truck court, over 200 parking spaces, ESFR sprinklers, and each building can be demised down into approximately 10,000 square-foot units. The project is slated to break ground in early summer 2021 with completion anticipated by early spring 2022.

Contact: Alvina Olivier, 714-263-8742

01/27/2021 Company News

Dermody Properties Leases 104,878 Square Feet in Ontario

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 its property at 3120 E. Mission Blvd. to a national, privately-owned distributor of shipping, industrial and packaging materials. “With close proximity to Ontario International Airport and several major freeways, this location places the customer within the heart of one of the nation’s most sought-after industrial markets,” said Matt Mexia, Partner in Southern California at Dermody Properties. “Growth in this region is also driven by access to a strong labor pool as companies look to grow their operations.” Ontario is situated adjacent to the Inland Empire, one of the country’s fastest-growing logistics markets. This, coupled with Southern California’s population density and the property’s access to a large area of the U.S. within a day’s drive, make this region a prime location for regional distribution centers. “The Inland Empire West was the top industrial real estate market in 2020 and we believe that demand will continue through 2021,” said Elizabeth Kauchak, Chief Operating Officer at Dermody Properties. “Dermody Properties will remain strategically focused on seeking the best opportunities for our customers in this region and across the country.” Dan de la Paz of CBRE represented Dermody Properties in the leasing transaction for this project. For current availabilities in Southern California, visit the Dermody Properties website.

Contact: Sara Robbins, 702-283-0447

Prologis CenterPoint Properties