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Joint venture wins Biggest Deals of the Year
The Rosemont Realty and Gemini Investments joint venture was named winner of the inaugural Biggest Deals of the Year award by the Albuquerque Business First newspaper.
“This award is an excellent acknowledgment of the importance of our ongoing relationship with our partner, Gemini Investments,” said Michael Mahony, CEO of Gemini Rosemont.
Gemini Rosemont won the honor in the real estate division, one of 11 categories recognized at the first-ever gala event attended by more than 400 business leaders.
Joe Farr, SVP of Asset Management and Albuquerque market leader, and Dan Burrell, former Rosemont Realty CEO, accepted the award on behalf of Gemini Rosemont. In attendance were 20 members and guests representing the company to celebrate the achievement.
The Biggest Deals of the Year finalists and awardees were selected by the news staff of Albuquerque Business First, based on real estate transactions closed between August 2015 and August 2016, the size of the deal and potential benefits to New Mexico.
Bellevue’s One Twelfth at Twelfth three-building office campus joins portfolio
Gemini Rosemont, LLC, a leading real estate investment company with holdings of approximately 13.6 million square feet of commercial office space, has acquired One Twelfth at Twelfth, a three-building office campus in the Seattle submarket of Bellevue, Wash.
The acquisition of the Class A office campus adds 480,389 rentable square feet to the company’s portfolio. Gemini Rosemont now owns 67 properties comprised of 109 buildings in 20 U.S. states.
Gemini Rosemont purchased the office campus in partnership with Gemini Investments, an investment company listed on the Hong Kong Stock Exchange. The price was not disclosed.
“Adding One Twelfth at Twelfth to our portfolio supports Gemini Rosemont’s desire to expand our footprint in the western U.S.,” said Michael Mahony, chief executive officer of Gemini Rosemont. “The Seattle-Bellevue MSA is a very desirable live/work/play community featuring a diverse industry base. The highly skilled and educated work force that chooses to live here supports a strong and growing office sector. We expect additional acquisitions in the Puget Sound region in the near future.”
This is the third office building acquisition in 2016 by Gemini Rosemont. The company added Raleigh-Durham’s six-story, 131,976 square foot SouthCourt office building in early November. It also acquired the 19-story, 177,489 square foot 610 West Ash office tower in San Diego’s downtown Little Italy district in April.
“One Twelfth at Twelfth is the complete package from an investment standpoint,” said Don Henry, chief operating officer and chief investment officer for Gemini Rosemont. “It is a fully-leased property located in a campus setting in a dynamic submarket that we have been targeting for our investors. The property generates a stable income return but also has potential for capital appreciation due to its location and being in the path of growth.”
The LEED Gold certified office campus sits adjacent to Interstate-405, Eastside’s primary transportation corridor, offering unmatched access and highway visibility. Built in 2001, the property features high quality office space, large and efficient floor plates, comprehensive onsite and nearby amenities, an above-market parking ratio, and superior transportation access and visibility.
“We have identified a number of ‘smart capital’ investments that we can make at One Twelfth at Twelfth, including an upgrade of the building amenities and the use of the common courtyard as a focal point to enhance the tenant experience,” said Jason Kuester, Gemini Rosemont’s senior vice president of acquisitions.
The Eastdil Secured team of Jason Flynn, managing director, Kayln McClure, senior vice president, and Reid Rader, vice president, brokered the transaction.
Led by KG Investment Properties’ regional director Josh Shearer, the property will be managed onsite by Shawn Gilson, senior property manager. The Broderick Group’s Grant Yerke and Jeff Watson will handle leasing.
Portfolio expands with acquisition of Raleigh–Durham’s SouthCourt
Gemini Rosemont, LLC, a leading commercial real estate investment company with holdings of approximately 13 million square feet of commercial office space, has acquired the six-story SouthCourt office building in Durham, N.C.
The acquisition of the Class A office building adds 131,976 rentable square feet to the company’s portfolio. Gemini Rosemont now owns 107 buildings in 18 states across the U.S.
Gemini Rosemont purchased the office building from Torchlight Investors. The price was not disclosed.
“The addition of SouthCourt is a continuation of Gemini Rosemont’s active acquisition program,” said Michael Mahony, chief executive officer of Gemini Rosemont. “This is the first of what we anticipate will be more acquisitions in strong markets to enhance our position on the East Coast.”
This is the second acquisition this year by Gemini Rosemont. The company added the 19-story, 177,489 square foot 610 West Ash office tower in San Diego’s downtown Little Italy district to its portfolio in April.
“SouthCourt is considered to be the premier office building in South Durham,” said Don Henry, chief operating officer and chief investment officer for Gemini Rosemont. “It exceeds the investment criteria we have established for our acquisition program.”
Excellent proximity to the city’s major highways connects the property to downtown Durham, the Research Triangle Park and downtown Raleigh. Outstanding on-site amenities, including ground floor retail, a fitness center and salon, coupled with Fresh Market, Starbucks, Super Target and Mi Peru within walking distance, gives tenants an amenity package that is unmatched in the market.
“Raleigh-Durham is one of our target markets for a variety of reasons, including its rapid growth, the stable, highly educated employment base, and compelling demographics,” said Nick Nigro, Gemini Rosemont’s senior vice president of acquisitions.
HFF director Scot Humphrey and senior managing director Ryan Clutter brokered the transaction.
Under the direction of Gemini Rosemont’s Tina Renee McCall, senior vice president for asset management, Trinity Partners will handle leasing responsibilities and property management services.
Synergy Resources takes multiple-floor lease at Denver Energy Center
Gemini Rosemont Commercial Real Estate, a leading commercial real estate investment company with more than 14 million square feet of commercial office space in 20 states, has secured a long-term, multiple floor lease with Synergy Resources Corporation.
Synergy Resources will now be headquartered in 38,000 square feet, occupying two and a half tower floors at Denver Energy Center at 1675 Broadway, in the heart of downtown Denver.
“Securing this new, large lease from Synergy Resources may be an indicator that Denver’s oil and gas market sector is on the upswing and growing its footprint in our Midtown submarket,” said Tim Farrell, senior vice president of asset management for Gemini Rosemont. “We are honored that Synergy Resources chose Denver Energy Center for its corporate headquarters.”
Synergy Resources Corporation engages in the acquisition, exploitation, exploration, development, and production of oil and natural gas assets primarily located in the Greater Wattenberg Field in the Denver-Julesburg Basin in northeast Colorado. Upwards of 100 employees will be based at the new headquarters.
Synergy Resources selected Denver Energy Center for its corporate headquarters because of the incomparable views of Uptown and Downtown Denver, and the Rocky Mountains, along with the ability to provide more individual perimeter offices on the glass, according to Farrell.
One of Denver’s most recognizable and high profile office buildings, Denver Energy Center is a two-tower property, comprised of 785,349 square feet. It is strategically located near the city’s mass transit and freeway system, Civic Center Station, the Colorado state capital, Denver city and county buildings, Civic Center Park and the Denver Convention Center. The beautifully landscaped plaza, nearby hotels, retail and restaurants, along with on-site property management, engineering staff and round-the-clock security, are just some of the amenities that draw tenants to Denver Energy Center.
Notable tenants at Denver Energy Center include Noble Energy, Schlumberger Technology Corporation, Kauffman Holding Company, KeyBank and Gemini Rosemont’s regional office, among others. Available suites at Denver Energy Center range in size from 1,000 square feet to full floors of approximately 14,000 rentable square feet.
Andy Ross with Jones Lang LaSalle represented Gemini Rosemont in the transaction, while Chris Wiley with Colliers International represented Synergy Resources.
Gemini Rosemont and its related entities own three properties representing 1.4 million square feet in the greater Denver market, including Denver Energy Center and Diamond Hill in Denver, and Cole Center in Golden, Colo.
Fidelity National Title commits to large, long-term lease at Northwest Crossing I
Gemini Rosemont Commercial Real Estate, a leading commercial real estate investment company with more than 14 million square feet of commercial office space in 20 states, has agreed to a long-term lease with Fidelity National Title Group (FNTG).
Fidelity National Title Group’s Houston Production Center now operates in 14,000-plus square feet at the Northwest Crossing I building at 13101 Northwest Freeway, in Houston’s Northwest Far submarket. The new lease increases the building occupancy by 18 percent.
Fidelity National Title Group is a member of the Fidelity National Financial (NYSE: FNF) family of companies and the nation’s largest group of title companies and title insurance underwriters – Chicago Title Insurance Company, Commonwealth Land Title Insurance Company, Fidelity National Title Insurance Company, Alamo Title Insurance, Lawyers Title, and Ticor Title – that collectively issue more title insurance policies than any other title company in the United States.
“Fidelity National Title Group selected the Northwest Crossing I as the site for its production center because of its convenient location and the high-density open space concept with first floor lobby exposure,” said Helen Rivero, regional principal for Gemini Rosemont. “We truly value having Fidelity National Title Group at Northwest Crossing I.”
Northwest Crossing I is a three-story, 77,484 square foot property that offers easy freeway access, along with nearby retail shopping, restaurants and hotels to service the needs of tenants and their employees.
“The addition of Fidelity National Title Group’s Houston Production Center to the Northwest Crossing I tenant roster will bring approximately 70 more employees to the building every day, which supports neighboring businesses,” said Rivero. “We’re optimistic that with the imminent completion of the U.S. Route 290 highway expansion in Q4 2017, coupled with the convenient location and the future local amenity development in the submarket, there will be additional leasing opportunities at Northwest Crossing I.”
Gemini Rosemont’s Leasing Director Carrie Powledge represented the landlord in the transaction, while Don King with JLL negotiated on behalf of FNTG.
Tenants include Deposition Solutions, LLC, Freeman & Curiel Engineers, and Carlton Staffing, among others. Available suites range in size from 582 square feet to 5,175 contiguous square feet.
Gemini Rosemont and its related entities own 24 properties representing nearly four million square feet in Texas, including 15 properties comprised of more than two million square feet in the Houston market.
Quell Corporation renews lease at Vista West
Gemini Rosemont Commercial Real Estate, a leading commercial real estate investment company with more than 14 million square feet of commercial office space in 20 states, has renewed its lease with Quell Corporation.
Quell Corporation will continue to be headquartered in a 12,000-plus square foot space at the Vista West building at 5643 Jefferson St. NE, in Albuquerque’s North I-25 corridor.
“Our entire property management team is honored by Quell’s lease renewal and we appreciate the confidence Quell has in Gemini Rosemont’s ability to meet its office needs,” said Joe Farr, senior vice president of asset management for Gemini Rosemont. “We truly value having Quell Corporation headquartered at Vista West.”
The Quell lease is the fifth transaction at Vista West in the past six months, including three new leases, one lease expansion and the Quell lease renewal, representing 27,630 square feet of occupancy.
“These multiple transactions in a short timeframe is a good indicator about the leasing market in Albuquerque,” Farr added. “New companies joining our business community along with established companies expanding and renewing their commitments bode well for Albuquerque.”
Quell Corporation, a New Mexico-based company founded in 1984, manufactures the EESeal which is an EMI and/or transient protection device inserted into standard connectors. Quell’s EESeal routinely fixes unwanted EMI and ESD issues in a variety of applications including Military, Aerospace, Medical, Transportation and more.
Gemini Rosemont’s Jason Lott represented the landlord in the transaction. Quell’s lease negotiation was handled by in-house representation.
Vista West is a mixed-use, campus-style, 94,506 square foot property that offers retail, office and flex/warehouse space. The property is currently 80 percent leased, with just two suites available, including a 7,074 square foot suite and an 8,090 square foot suite.
Tenants include Pizza 9, Innovasic, SWCA Environmental Consultants and Westwind Computer Products, Inc., among others.
Gemini Rosemont and its related entities own 17 properties representing 1.6 million square feet in the Albuquerque market.