10700 and 10800 Geddes Change Hands, Transformation Underway

Westport Capital Partners Invests in Second Denver Asset

DENVER, November 2, 2017 – An entity owned by a fund managed by Westport Capital Partners LLC, a real estate investment firm, has acquired 10700 and 10800 East Geddes Avenue in Englewood, Colorado, from Colony Northstar, Inc. The 185,957 square foot two-property office center is located east of the Interstate 25 and Dry Creek interchange in the Inova Dry Creek Business Park. Ryan Stout, Nate Bradley and Zach Williams of Cushman & Wakefield have been hired as the exclusive leasing agents for the office property.

“We are pleased to add to our Denver portfolio and look forward to transforming this great asset,” said Russel Bernard, Westport’s Managing Principal.

With the purchase of this project Westport Capital Partners adds an additional value-add property to their Denver market portfolio. They purchased 7100 East Belleview Avenue in Greenwood Village, Colorado, in December 2015 and have since transformed the building. The upgrades include a new lobby boasting modern artwork, soft seating and shuffle board, an outdoor tenant pavilion, a conference facility with new technology, a fitness facility with showers and lockers and an on-site deli. Westport Capital Partners plans a similar total renovation for the Geddes project, along with a complete rebrand.

“There is a lot of exciting growth happening in the Southeast market in Denver and much of this growth is moving towards projects featuring modern tenant amenities, which is what we intend to bring here,” said Sean Armstrong, Principal & Portfolio Manager at Westport Capital Partners. “Along with a major renovation, we are pleased to announce the rebrand of 10700 and 10800 Geddes as ‘Inova Corporate Center’. In partnership with Inova Dry Creek, we will be offering united tenant amenities such as a light rail shuttle and rotating food trucks for tenants.”

“We are looking forward to the opportunity to partner with Westport Capital Partners to reposition and stabilize a well-located asset in a newly reactivated and highly sought-after market,” said Ryan Stout of Cushman & Wakefield.

 About Westport Capital Partners LLC

Westport Capital Partners LLC is a real estate investment firm specializing in the opportunistic, value-add and core-plus real estate arenas. Westport provides domestic and international investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of value-add, opportunistic and core-plus real estate assets. The firm has offices in Wilton, Connecticut; Los Angeles, California; Bozeman, Montana; and London, England. For more information regarding Westport Capital Partners LLC, visit www.westportcp.com.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.

The Mix at River’s Edge Begins Phase One of Master Plan

Provo, Utah (Oct. 25, 2017) – Westport Capital Partners LLC, an international real estate investment firm, today announced that its project The Mix at River’s Edge is moving forward with phase one of its Master Plan early next week. Demolition and removal of many existing buildings starts the process, focusing on Lolo’s, Big O Tires, Taco Time, and Kyoto restaurant.

The Kyoto building is the first to come down, making way for a new Café Rio, the company’s soon-to-be flagship location.

“Westport is excited about the first phase of the redevelopment. We believe that the fundamentals of both the Provo and Utah real estate markets are strong,” said Russel Bernard, Managing Principal of Westport Capital Partners.

The new Café Rio will be a larger restaurant and adds a drive-thru, the first for the company’s chain of locations. Café Rio at The Mix is expected to open Spring 2018. The existing restaurant will remain open during demolition and construction.

“We’re focused on the development, planning and processes needed to make The Mix an amazing mixed-use center. Momentum is going forward,” said Colby Durnin, CEO of Sentinel Development. “The Provo City staff and officials have been very welcoming and we are proud to be able to start the redevelopment.”

In addition to the demolition and build-out of a new Café Rio, phase one also includes a remodel of Olive Garden and the build out of necessary infrastructure for future buildings at The Mix. Existing businesses, including Olive Garden, Café Rio, Cafe Zupas, Wilson’s Diamonds, Jimmy John’s, and JCW’s, will stay open through construction.

“Construction on The Mix will be phased,” added Durnin. “Phase One includes updates to some of the existing restaurants, the new Cafe Rio location, and a new retail village. The additional phases, which include three office towers, market rate apartments, and a hotel, is planned to begin in 2018. The entire project will take three-plus years to complete.”

 

The Mix at River’s Edge is designed to be a meeting place for residents and visitors in the Provo/Orem area. For more information on The Mix at River’s Edge, visit www.atthemix.com.

###

About Westport Capital Partners LLC

Westport Capital Partners LLC is a real estate investment firm specializing in the opportunistic, value-add and core-plus real estate arenas. Westport provides domestic and international investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of value-add, opportunistic and core-plus real estate assets. The firm has offices in Wilton, Connecticut; Los Angeles, California; Bozeman, Montana; and London. For more information regarding Westport Capital Partners LLC, visit www.westportcp.com.

About Sentinel Development

Sentinel Development is a full spectrum national real estate development and management company focused on unique and complex projects that create innovative communities and destinations. Founded in 2001, Sentinel has nationally developed and repositioned over 100 properties consisting of billions in vale and millions in square footage. Sentinel Development seeks out unique development opportunities and manages all aspects of the process and innovation, from identification and inception through to delivery and completion. Sentinel Development strives to be entrepreneurial in all facets of commercial real estate development, construction, asset management, property management, finance, and capital transactions. This broad range of expertise defines Sentinel to simplify and execute the most complex developments and projects. Sentinel Development has offices in Irvine, California; San Jose, California; Salt Lake City, Utah, and Plano, Texas. For more information regarding Sentinel Development, please visit www.sentineldev.com.

MEDIA CONTACT:

Gail Halladay

801-865-6619

gail@grassroots-agency.com

Condyne and Westport Capital Partners Acquire Brookwood Business Center

Transwestern Consulting Group (TCG) today announces it brokered the sale of Brookwood Business Center at 101 Billerica Ave. in Tewksbury and Billerica, Massachusetts, on behalf of Brookwood Financial Partners, LLC. The six-building, 448,707-square-foot park was purchased by a joint venture partnership between Condyne Capital Partners and a fund managed by Westport Capital Partners LLC.

The TCG team of Chris Skeffington, Joe Olin and Roy Sandeman represented the seller and sourced the buyer, while James Lipscomb, Brian McKenzie and John Wilson have been retained by the new ownership to continue providing leasing services for the park. Working with the new ownership team, TCG’s Andrew Stone helped arrange financing with HarborOne Bank and Brookline Bank for the acquisition.

When Brookwood acquired the park out of foreclosure in 2010, it rejuvenated the property with an infusion of capital and made various cosmetic upgrades. Brookwood acquired the property for a purchase price that was well below the estimated replacement cost. This low basis in the asset enabled Brookwood to offer generous tenant improvement and leasing packages.

“We invested significant capital in landscaping, roofs, a new café, signage and the common areas,” said Kurt M. Zernich, Brookwood’s Director of Acquisitions and General Counsel. “These improvements greatly enhanced the image of the property and consequently resulted in us being able to secure long-term leases with quality tenants.”

“The new ownership team of Condyne and Westport successfully identified an asset that they believe has and will continue to outperform the market for years to come,” said Skeffington. “The supply of flex space in the market has gone down dramatically in the past 10 years, making more recently constructed parks like Brookwood Business Center very attractive to tenants and investors.”

“The investment was attractive due to low vacancies and increased demand for flex space in the New England region,” said Russel Bernard, Managing Principal of Westport.

Brookwood Business Center consists of four single-story flex buildings and two two-story office buildings situated in a 44-acre, master-planned park approximately 30 miles north of Boston alongside Interstate 495, less than three miles from its interchange with Route 3. The park straddles the I-495 North and Route 128 North submarkets, which combined have 14.5 million square feet of flex space that was 13.4 percent vacant as of the close of third quarter 2017. However, 72 percent of the market vacancy is concentrated in five properties that we believe are functionally or geographically obsolete. Excluding those properties, the vacancy rate drops to 4.6 percent.

The park has 15,375 square feet of office space available. Notable tenants include the Potpourri Group, MC Assembly and MRSI Systems.

In 2017, TCG has completed 13 building sales, totaling more than 2.3 million square feet of space and $306 million in value.

ABOUT BROOKWOOD FINANCIAL PARTNERS, LLC

Brookwood is a nationally-recognized private equity investment firm that specializes in acquiring and managing value-add commercial real estate and related operating businesses on behalf of a select group of institutional investors, family offices and high net worth individuals. Since its founding in 1993, Brookwood has raised over $907 million of equity to acquire a portfolio of 185 commercial real estate properties, seven operating companies, and 73 gas stations and convenience stores, which have a realized and unrealized value in excess of $2.4 billion. The portfolio has spanned multiple asset classes, geographical markets and industries across the United States. www.brookwoodfinancial.com.

ABOUT CONDYNE CAPITAL INVESTORS

Condyne was formed in 1998 to capitalize on development opportunities within the warehousing and transportation industries originating from clients of Condyne Freezers and Condyne Logistics, both owned and operated by the O’Neill family. After the principals of Condyne divested of the warehousing and transportation companies in 2001, the focus was targeted exclusively on creating real estate development opportunities within the industrial market, primarily high-bay distribution centers.  As part of the company’s continued entrepreneurship additional entities have been formed making up Condyne and its affiliates as a fully vertically integrated real estate development firm providing a single source for all development needs in the New England market; including consultation, design, engineering, construction, and property management. To date, the principals have developed in excess of 10 million square feet of space in multiple real estate product segments based on their knowledge, strengths, and relationships within the real estate industry. www.condyne.com.

ABOUT WESTPORT CAPITAL PARTNERS

Westport Capital Partners LLC is a real estate investment firm focusing on adding value to real estate and “hands-on” solutions to complex situations. Westport provides domestic and international real estate related investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Los Angeles, California, Wilton, Connecticut, Bozeman, Montana and London, England. For more information regarding Westport Capital Partners LLC, please visit westportcp.com.

ABOUT TRANSWESTERN CONSULTING GROUP

Transwestern Consulting Group works with owners and occupiers of real estate to design and execute customized, labor-centric strategies that consider corporate objectives, economic drivers and industry trends to solve complex business challenges. Using a data-driven approach, our dedicated team of multimarket specialists integrates transactional expertise with the appropriate mix of site selection and demographic analyses; financial modeling; supply chain management; incentives negotiation; portfolio optimization; workplace strategy; and branding solutions for the achievement of each client’s goals.

ABOUT TRANSWESTERN

Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Boston office, follow @TranswesternBOS.

Store Here Completes Transaction of 27 Properties Across 6 States

Orange, California October 19, 2017 – Store Here, LLC, a joint venture between certain affiliates of Westport Capital Partners LLC (“Westport”) and Store Here Management LLC, has sold 27 assets in Colorado, Georgia, Louisiana, Indiana, Kansas and Texas.

“In less than three years, we were able to execute a bold plan. We believed we could assemble a well-positioned portfolio of properties with high value upside; I am also so proud of all the hard work our team has put into creating our world-class owner/operator platform.  Working alongside Westport Capital Partners, we applied our seasoned storage experience and have proven to be a viable force in the industry.” said James J. Hanrahan, Acquisitions Director of RHW Capital Management Group, LLC.

“Because of the nature of the fragmented market, we felt taking the programmatic approach to acquiring a portfolio was the best route for our platform. Partnering with Store Here Management for our entry into the self storage industry proved to be a great partnership and one we look forward to continuing,” said Sean Armstrong, Principal at Westport.

“The sale is the culmination of hard work and belief in a vision that the market would have a strong appetite for our portfolio,” said Russel Bernard, Managing Principal of Westport. Starting in March 2014 with an acquisition in San Antonio Texas and finishing in March 2017 with a transaction in Shreveport Louisiana, the venture created a group of quality assets with over 1.6 million rentable square feet and over 12,000 storage units.

About Westport Capital Partners LLC

Westport Capital Partners LLC is a real estate investment firm specializing in the opportunistic real estate arena. Westport provides domestic and international investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Wilton, Connecticut, Los Angeles, California and London, England. For more information regarding Westport Capital Partners LLC, visit www.westportcp.com.

About Store Here Management LLC

Store Here Management LLC, a division of RHW Capital Management Group LLC, is a property management company with an acquisition and analysis division focusing on the self-storage industry. RHW was founded in 2012 by industry veterans with over 70 years of combined experience providing a stable source of funding and management. Store Here Management owns and manages 19 properties in seven states. RHW plans to expand the Store Here brand with an aggressive strategy that includes acquiring additional assets and securing new management contracts. For more information call James J. Hanrahan (657)224.9444 or visit http://www.storehere.com

North Signal Capital and Westport Capital Partners purchase two sites at North Pointe Commerce Park

Approximately 250,000 square feet of Class A Industrial with an expected delivery of September 2018

Colliers International is expected to act as owner’s leasing representative

Charleston, SC, September 6, 2017 – A joint venture owned by North Signal Capital LLC and a fund managed by Westport Capital Partners LLC, has purchased two industrial sites at North Pointe Commerce Park, www.northpointecommercepark.com.The Joint Venture plans to develop the sites, collectively referred to as “North Pointe Commerce Park”, into a speculative building and a build-to-suit. The development plan will add approximately 400,000 square feet of class A industrial space to the market.

The joint venture expects to break ground on Site 1, the approximately 250,000 square foot speculative building, this month with a delivery planned for September 2018. Site 2, which is planned as a build-to-suit, has the potential to deliver as soon as September 2018. Both sites offer flexibility in size and configuration, a major selling point with the market’s current low vacancies and high demand.

“We are pleased to partner with North Signal Capital in the acquisition and development of these two parcels of property.” said Russel Bernard, Managing Principal, Westport Capital Partners LLC.

“The development plan will bring much-needed supply to support Charleston’s thriving economy. We are excited to participate in the continued development of the City’s vital role as an international manufacturing and trade hub,” said Sean Armstrong, Principal and Portfolio Manager, Westport Capital Partners LLC.

“The sites are strategically located in close proximity to the port, airport, interstate highways and the US naval installation known as SPAWAR. As a result, the properties will appeal to a diverse set of industries, including: aerospace and defense, automotive, information technology, life sciences and logistics” said Peter Goulding, Partner, North Signal Capital LLC.

Colliers International represented WestRock, the seller, in the transaction. The sites were previously part of WestRock’s industrial holdings, a portfolio that Colliers is currently assisting WestRock in selling. Colliers’ Charleston industrial team of Peter Fennelly; Hagood Morrison; and Simons Johnson has been awarded the assignment for North Pointe Commerce Park and will begin marketing the sites to potential tenants immediately. Fennelly, Morrison and Johnson specialize in industrial properties in the Charleston region, representing both owners and tenants.

“The partnership made a smart investment based on development plans which truly match the needs of our market,” said Peter Fennelly, Market President, Colliers International. “The speculative building will allow tenants speed to market and flexibility. Meanwhile, the build-to-suit opportunity opens the door for users with more custom needs. Having both offerings reflects the diverse industrial market in Charleston.”

About North Signal Capital LLC: North Signal Capital LLC is a real estate investment and development firm with offices in Stamford, CT and Charleston, SC. North Signal seeks to maximize risk-adjusted returns by employing a value-based approach to real estate investing. North Signal targets investments supported by long term secular trends including the growth of e-commerce and population growth within the Southeastern US. Founding Partners Peter Goulding and CJ Carey have over twenty years of institutional investment experience. For more information regarding North Signal Capital LLC, please visit northsignalcapital.com.

About Westport Capital Partners LLC: Westport Capital Partners LLC is a real estate investment firm focusing on adding value to real estate and “hands-on” solutions to complex situations. Westport provides domestic and international real estate related investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Los Angeles, California, Wilton, Connecticut, Bozeman, Montana and London, England. For more information regarding Westport Capital Partners LLC, please visit westportcp.com.

About Colliers International| South Carolina: Colliers International| South Carolina has over 150 staff members, including 64 real estate professionals. Total brokerage volume for the firm in 2016 was approximately $634 million involving over 659 sales and leasing transactions. Colliers International is the largest manager of commercial property in South Carolina and is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM), with a portfolio at year-end 2016 of approximately 14 million square feet of office, industrial, retail and healthcare properties. Colliers International’s staff holds 53 professional designations, the most of any firm in South Carolina. For more information regarding Colliers International| South Carolina, please visit colliers.com/en-us/southcarolina.

About Colliers International Group: Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting. For more information regarding Colliers International, please visit colliers.com/en-us.

Newcastle Partners/Westport Capital Partners Joint Venture Acquires 40,000-Square-Foot Creative Office in West Los Angeles

San Francisco, CA (July 7, 2017) – Newcastle Partners, a West Coast-based full-service commercial real estate investment and development company, in connection with Westport Capital Partners, a real estate investment firm specializing in distressed, opportunistic and core plus real estate investing, has announced the formation of a Joint Venture[1] for the acquisition of a two-story creative office building located at 5830 Rodeo Road in Los Angeles. The Joint Venture acquired the 40,000-square-foot office building from a commercial property user who has owned the building for approximately 30 years and is planning a full -scale renovation of the property.  First Property Corporation, Mike Geller and Josh Bernstein, will handle the leasing assignment with Shubin Donaldson and Del Amo Construction executing the property repositioning.

Read More

Westport Capital Announces Tenant for New Sugar House Development

SALT LAKE CITY – Westport Capital Partners, on behalf of certain funds it manages, today announced a lease with University of Utah Health for the investment firm’s new Sugar House development located at 2290 South 1300 East. U of U Health will occupy one of two office buildings in the new project as the sole tenant of 170,000 square feet in the building on the southeast corner of the development.

Read More

Westport Capital Partners Acquires Tysons Corner, VA Office Property, Plans Renovations, Upgrades for 2000 Corporate Ridge Road

Wilton, CT, June 19, 2017 — Real estate investment firm Westport Capital Partners LLC (“Westport”) announced today that an entity owned by certain funds it manages has closed on the purchase of 2000 Corporate Ridge Road in Tysons Corner, VA from a special servicer that had foreclosed upon the building in 2015. The building was acquired at an approximately 70% discount to the price the building last sold for in 2006.

Read More

Westport Capital Partners Adds Key Executives in Connecticut and London

WILTON, Conn.–(BUSINESS WIRE)–Westport Capital Partners LLC (“Westport” or “WCP”), the independent real estate investment advisor, today announced that it has named two new executives to its team. Erin Kerr has joined the firm as Vice President, Investor Relations, and Kevin McTavish has been named a Director of Westport Capital Partners (UK) LLP.

Read More

Westport Capital Partners Announces New Development in Northern Utah

LAS VEGAS – May 22, 2016 – Westport Capital Partners LLC is pleased to announce Salt Point, a new development located in western Weber County, Utah, opening in Fall 2017. Salt Point is a 77-acre mixed-use development featuring over 400,000 sq. feet of proposed retail. The land was purchased by an entity owned by certain funds managed by Westport Capital Partners LLC.

Currently, residents of West Haven must travel more than 15 minutes to the closest grocery store. Salt Point will be home to several amenities to serve the rapidly growing area providing residents with access to shopping, dining and entertainment within minutes.

Read More

Page 1 of 6

© 2017 WESTPORT CAPITAL PARTNERS LLC       Privacy Policy & Terms of Use | Disclaimer | Contact