Middle Market Digest: Southwest

LOS ANGELES—Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

NEW & NOTABLE

LOS ANGELES—Stepp Commercial has hired Todd Hawke as VP. He will focus on expanding multifamily investment sales in the Long Beach market. Hawke most previously served at Triqor Group where he focused on multifamily apartment investment sales. With more than 16 years of industry experience, Hawke not only brings successful experience in brokerage to Stepp Commercial, but also in the multifamily development sector including rehabilitation, condo conversions, and ground-up construction. Hawke has seen success with individual investments, partnerships and syndications through service and experience-based advisement.

IRVINE, CA— The Building Industry Association of Southern California has hired three new individuals to join their Government Affairs team. Clint Lorimore, Director of Government Affairs, and David Dazlich, Deputy Director of Government Affairs, will join the BIA Riverside Chapter staff and Adam Wood, Director of Government Affairs, will join BIA Orange County staff. Lorimore has a political background. Dazlich comes to BIA from Denver, CO, bringing with him seven years of experience in public policy, industry advocacy and political campaigns. Dazlich has spent the past year working in government affairs and advocacy on behalf of the oil and gas industry. Dazlich has served as a Senior Legislative Aide in the offices of the Minority Leader, the Whip, and the Caucus Chair of the Colorado State House of Representatives. In this capacity, David worked on policy issues including construction defects, regulation of the oil and gas industry and rules on industrial hemp. He has also worked campaigns for candidates and initiatives at the local, state and federal levels in Colorado, New Jersey, Pennsylvania, Virginia, Louisiana, and California.

LOS ANGELES—JLL has hired Amber Schiada as Director of Research in the Southwest region.  In her role, she will oversee JLL's Southwest research team across five markets: Los Angeles, Orange County, San Diego, Phoenix and Las Vegas, managing a team of 11 analysts.  Based in the company's downtown Los Angeles office, Schiada and her team are charged with creating unique and insightful research data and collateral that will help its brokers to better advise their clients.

Previously, Schiada served as Director of Research for JLL's Northern California Region, leading a team of eight analysts in five markets.  With more than 11 years of real estate experience, Amber specializes in real estate economics, industry trends and real estate forecasting. In addition this new role, she will also continue to co-lead all research initiatives for JLL's U.S. High-Tech Practice Group and has extensive experience analyzing innovative companies, venture capital trends, high-tech labor market trends, and the impact on real estate markets across the country.

DEALTRACKER

PHOENIX—Rio2100 is located near construction at the intersection of Loop 202 and Loop 101 in Tempe, Ariz., has completed as a 300,000-square-foot build-to-suit lease with Freedom Financial Network. Bryan Taute and Charlie von Arentschildt with CBRE's Phoenix office negotiated the lease on behalf of the landlord, The Boyer Company. Freedom Financial was represented by Pat Williams and Gregg Walker with JLL.

FONTANA, CA—GoPlus Corp. has signed a lease for 267,000-square- foot building for just over five years (63 months) at Vintage Park East Industrial Park in Fontana, the most sought-after location in the western Inland Empire, in a transaction negotiated by Colliers. The site traded hands for at $7.3 million. It is the second lease negotiated at the 140-acre industrial park in the past 60 days by Colliers brokers. EVP Kevin McKenna, based in the brokerage firm's Ontario, Calif. office, represented the industrial park's owner, Vintage Park East LLC.

WHITTIER, CA—Sandpiper Apartments, a 71-unit apartment community in Whittier, CA, traded hands for $14.4 million dollars. Stepp commercial principal Robert Stepp and VP Michael Toveg of Stepp Commercial represented the seller, Los Angeles-based Westside Capital Partners LLC, as well as the buyer, a private investor from Long Beach who was in a 1031 exchange. The property closed at a 4.84 percent cap rate and a price per unit of just under $202,000. Built in 1965, the property is situated on 2.09 acres at 14515 Leffingwell Road. The unit mix includes 41 two-bedroom units, 29 one-bedroom units and one studio. Fifty-five units were recently renovated to include updated kitchens featuring new custom cabinets, granite countertops and stainless steel appliances; as well as new vinyl plank and carpet flooring. The property includes a pool and sun deck, barbeque area, gated carport parking with 93 spaces, controlled access entry, and fully landscaped grounds.

LOS ANGELES—Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

NEW & NOTABLE

LOS ANGELES—Stepp Commercial has hired Todd Hawke as VP. He will focus on expanding multifamily investment sales in the Long Beach market. Hawke most previously served at Triqor Group where he focused on multifamily apartment investment sales. With more than 16 years of industry experience, Hawke not only brings successful experience in brokerage to Stepp Commercial, but also in the multifamily development sector including rehabilitation, condo conversions, and ground-up construction. Hawke has seen success with individual investments, partnerships and syndications through service and experience-based advisement.

IRVINE, CA— The Building Industry Association of Southern California has hired three new individuals to join their Government Affairs team. Clint Lorimore, Director of Government Affairs, and David Dazlich, Deputy Director of Government Affairs, will join the BIA Riverside Chapter staff and Adam Wood, Director of Government Affairs, will join BIA Orange County staff. Lorimore has a political background. Dazlich comes to BIA from Denver, CO, bringing with him seven years of experience in public policy, industry advocacy and political campaigns. Dazlich has spent the past year working in government affairs and advocacy on behalf of the oil and gas industry. Dazlich has served as a Senior Legislative Aide in the offices of the Minority Leader, the Whip, and the Caucus Chair of the Colorado State House of Representatives. In this capacity, David worked on policy issues including construction defects, regulation of the oil and gas industry and rules on industrial hemp. He has also worked campaigns for candidates and initiatives at the local, state and federal levels in Colorado, New Jersey, Pennsylvania, Virginia, Louisiana, and California.

LOS ANGELES—JLL has hired Amber Schiada as Director of Research in the Southwest region.  In her role, she will oversee JLL's Southwest research team across five markets: Los Angeles, Orange County, San Diego, Phoenix and Las Vegas, managing a team of 11 analysts.  Based in the company's downtown Los Angeles office, Schiada and her team are charged with creating unique and insightful research data and collateral that will help its brokers to better advise their clients.

Previously, Schiada served as Director of Research for JLL's Northern California Region, leading a team of eight analysts in five markets.  With more than 11 years of real estate experience, Amber specializes in real estate economics, industry trends and real estate forecasting. In addition this new role, she will also continue to co-lead all research initiatives for JLL's U.S. High-Tech Practice Group and has extensive experience analyzing innovative companies, venture capital trends, high-tech labor market trends, and the impact on real estate markets across the country.

DEALTRACKER

PHOENIX—Rio2100 is located near construction at the intersection of Loop 202 and Loop 101 in Tempe, Ariz., has completed as a 300,000-square-foot build-to-suit lease with Freedom Financial Network. Bryan Taute and Charlie von Arentschildt with CBRE's Phoenix office negotiated the lease on behalf of the landlord, The Boyer Company. Freedom Financial was represented by Pat Williams and Gregg Walker with JLL.

FONTANA, CA—GoPlus Corp. has signed a lease for 267,000-square- foot building for just over five years (63 months) at Vintage Park East Industrial Park in Fontana, the most sought-after location in the western Inland Empire, in a transaction negotiated by Colliers. The site traded hands for at $7.3 million. It is the second lease negotiated at the 140-acre industrial park in the past 60 days by Colliers brokers. EVP Kevin McKenna, based in the brokerage firm's Ontario, Calif. office, represented the industrial park's owner, Vintage Park East LLC.

WHITTIER, CA—Sandpiper Apartments, a 71-unit apartment community in Whittier, CA, traded hands for $14.4 million dollars. Stepp commercial principal Robert Stepp and VP Michael Toveg of Stepp Commercial represented the seller, Los Angeles-based Westside Capital Partners LLC, as well as the buyer, a private investor from Long Beach who was in a 1031 exchange. The property closed at a 4.84 percent cap rate and a price per unit of just under $202,000. Built in 1965, the property is situated on 2.09 acres at 14515 Leffingwell Road. The unit mix includes 41 two-bedroom units, 29 one-bedroom units and one studio. Fifty-five units were recently renovated to include updated kitchens featuring new custom cabinets, granite countertops and stainless steel appliances; as well as new vinyl plank and carpet flooring. The property includes a pool and sun deck, barbeque area, gated carport parking with 93 spaces, controlled access entry, and fully landscaped grounds.