Hanley Investment Group Sells Winn-Dixie Supermarket and CVS/pharmacy Anchored Shopping Center in Mobile, AL
IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors, one of the dominant retail investment groups in the nation and a market leader in the sale of retail properties, announced today that Kevin T. Fryman represented the buyer and seller in the sale of a Winn-Dixie supermarket and CVS/pharmacy anchored shopping center in Mobile, Alabama. The sale price could not be disclosed.
Hillcrest Marketplace is a 76,364-square-foot neighborhood shopping center located at 6300 Grelot Road in Mobile. Situated on 11.83 acres, Hillcrest Marketplace was built in 1997 and was 98% occupied at the time of sale. Tenants in the sale included: Winn-Dixie, CVS/pharmacy, Firehouse Subs, Hallmark, Hershey’s Ice Cream, Little Caesars, and VIP Nail & Tanning Salon.
“The buyer purchased a quality grocery/drug anchored shopping center in an excellent location,” says Kevin T. Fryman, a vice president at Hanley Investment Group. “The combination of both Winn-Dixie and CVS occupying space at the property since it was built in 1997, and both anchor tenants featuring above average store sales, were significant selling points in generating multiple offers on the sale of the property,” says Fryman.
“The property also garnered a high level of interest due to Winn-Dixie’s plan to renovate the interior of the store at this location this year,” adds Fryman. “On average, historical statistics have showed that when Winn-Dixie remodels a store, the location experiences sales growth of 15% - 20% after completion. This provided the buyer with the additional confidence that they were acquiring a very secure investment.”
Fryman notes the buyer assumed an existing loan that required a 45% down payment.
The buyer was a private investor from Atlanta, Georgia. The seller was Lamar Companies from Littleton, Colorado.
Fryman is currently selling a similar property in Trussville, Alabama, anchored by Winn-Dixie at a 10.71% capitalization rate. Please visit www.hanleyinvestment.com for further details or contact Kevin Fryman directly at 949.585.7674 to learn more about the Trussville Marketplace.
About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment advisory firm with a two billion dollar transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry. Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.
Wednesday, September 23, 2009
Hodgdon Group Represents Ashley Furniture HomeStore in Lease Transaction in Palmdale, CA* * *
Hodgdon-Miank Construction Awarded Design Build Tenant Improvement Contract
COLTON, CALIF. – Inland Empire-based Hodgdon Group announced today that Aaron Hodgdon, president of Hodgdon Group, represented Ashley Furniture HomeStore in a lease transaction to occupy the former 42,000 sq. ft. Wickes Furniture Store building in the Sierra Commons shopping center, located across from the Antelope Valley Mall in Palmdale, Calif. Hodgdon also performed due diligence review on behalf of Ashley. The landlord, GRAE Ventures, LLC of Los Angeles, was represented by Rick Edwards and Winston Lee of GRAE Ventures in the lease transaction.
Located at the northeast corner of Avenue P and 10th Street West, Ashley Furniture HomeStore will join tenants Michaels, BevMo, Tuesday Morning and Applebee’s. Ashley Furniture is the No. 1 manufacturer and retailer of furniture in North America; the stores provide every furniture need for the home.
Hodgdon-Miank Construction, a full-service construction company also based in the Inland Empire, has commenced as the Design Build contractor on the tenant improvements with Dan Wallner serving as the project manager. Ashley Furniture HomeStore plans to open on October 2, 2009.
About The Hodgdon Group
The Hodgdon Group is a full-service real estate brokerage, development and construction management company for all of types of real estate projects; and has constructed a variety of medical office buildings through its general contracting division, Hodgdon-Miank Construction. For more information about the Hodgdon Group, please call Aaron Hodgdon at 909.783.3020 or visit www.hodgdongroup.com.
Wednesday, September 16, 2009
KTGY Principal David Senden Invited to be Speaker at BIA/OC Event
IRVINE, CALIF. - Award-winning KTGY Group, Inc., Architecture + Planning, is pleased to announce that KTGY’s Principal David Senden has been invited to participate in the Orange County Chapter’s Building Industry Association (BIA) and Urban Infill and Multifamily Housing Committee Workshop Program: “So You Think You’ve Got Infill? Think Again!” held on Thursday, September 24, 2009, at the Embassy Suites Anaheim – North at 3100 East Frontera in Anaheim, Calif. Registration and breakfast start at 7:30 am, the program runs from 8:00 am - 11:30 am. There is an optional project tour of The Crossing, a new urban infill, transit-oriented, resort-style apartment community developed by SARES-REGIS Group and designed by KTGY, immediately following the program.
Senden will participate in the panel, “It’s Process, Not Project,” which will be moderated by John O’Brien of Brookfield Homes, and include CJ Amstrup of the City of Anaheim, Jim Ivory, Bill Montgomery and Mike Winter with SARES-REGIS Group, Jay Ruby of Urban Resource Corp., and Michael Schrock of Urban Arena as additional panel members. Panelists will discuss the development challenges they have faced and will feature an in-depth case study on “The Crossing” in Anaheim. Attendees will get to learn about the development process from pre-development due diligence through project/land planning and design, as well as sales and marketing. Attendees can take a tour of The Crossing, which is currently under construction and will feature 312 apartments and 39 live/work units at 3530 E. La Palma Avenue, a former industrial location, in Anaheim. The City of Anaheim will also offer its development vision for this area of the city at the workshop.
Always with design quality and integrity, Senden provides the “big picture” vision for projects varying from infill mixed-use developments through large scale planning efforts. His knowledge and experience of residential product as well as his ability to stay on the cutting edge of design makes Senden an invaluable member of any development team. He leads a team of designers and planners who work hand-in-hand with the local jurisdictions, developers, and community. A reputable history of work for many of California’s major builders and developers as well as a string of smaller scale intimate projects mark Senden’s diverse portfolio.
Please call Philly Pemberton at 949.224.0321 or register online at www.biaoc.com. Deadline to register to attend workshop is September 18.
About BIA/OC
The Building Industry Association of Southern California, Orange County Chapter (BIA/OC) is a non-profit trade association representing more than 1,000 companies employing over 100,000 people affiliated with the home building industry. The BIA/OC is one of seven chapters and eleven councils that make up the BIA of Southern California. The BIA/OC is also affiliated with the California Building Industry Association (CBIA) and the National Association of Home Builders (NAHB). An active board of directors and 11 committees, made up of leaders from local builders, trade contractors, and businesses associated with the real estate industry, lead the BIA/OC in its mission to promote proactive participation in the development of complex economic and community issues in Orange County. For more information about BIA/OC, visit www.biaoc.com.
About KTGY Group, Inc.
Established in 1991, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, marketing and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland, and Santa Monica, and in Denver. See www.ktgy.com.
IRVINE, CALIF. - Award-winning KTGY Group, Inc., Architecture + Planning, is pleased to announce that KTGY’s Principal David Senden has been invited to participate in the Orange County Chapter’s Building Industry Association (BIA) and Urban Infill and Multifamily Housing Committee Workshop Program: “So You Think You’ve Got Infill? Think Again!” held on Thursday, September 24, 2009, at the Embassy Suites Anaheim – North at 3100 East Frontera in Anaheim, Calif. Registration and breakfast start at 7:30 am, the program runs from 8:00 am - 11:30 am. There is an optional project tour of The Crossing, a new urban infill, transit-oriented, resort-style apartment community developed by SARES-REGIS Group and designed by KTGY, immediately following the program.
Senden will participate in the panel, “It’s Process, Not Project,” which will be moderated by John O’Brien of Brookfield Homes, and include CJ Amstrup of the City of Anaheim, Jim Ivory, Bill Montgomery and Mike Winter with SARES-REGIS Group, Jay Ruby of Urban Resource Corp., and Michael Schrock of Urban Arena as additional panel members. Panelists will discuss the development challenges they have faced and will feature an in-depth case study on “The Crossing” in Anaheim. Attendees will get to learn about the development process from pre-development due diligence through project/land planning and design, as well as sales and marketing. Attendees can take a tour of The Crossing, which is currently under construction and will feature 312 apartments and 39 live/work units at 3530 E. La Palma Avenue, a former industrial location, in Anaheim. The City of Anaheim will also offer its development vision for this area of the city at the workshop.
Always with design quality and integrity, Senden provides the “big picture” vision for projects varying from infill mixed-use developments through large scale planning efforts. His knowledge and experience of residential product as well as his ability to stay on the cutting edge of design makes Senden an invaluable member of any development team. He leads a team of designers and planners who work hand-in-hand with the local jurisdictions, developers, and community. A reputable history of work for many of California’s major builders and developers as well as a string of smaller scale intimate projects mark Senden’s diverse portfolio.
Please call Philly Pemberton at 949.224.0321 or register online at www.biaoc.com. Deadline to register to attend workshop is September 18.
About BIA/OC
The Building Industry Association of Southern California, Orange County Chapter (BIA/OC) is a non-profit trade association representing more than 1,000 companies employing over 100,000 people affiliated with the home building industry. The BIA/OC is one of seven chapters and eleven councils that make up the BIA of Southern California. The BIA/OC is also affiliated with the California Building Industry Association (CBIA) and the National Association of Home Builders (NAHB). An active board of directors and 11 committees, made up of leaders from local builders, trade contractors, and businesses associated with the real estate industry, lead the BIA/OC in its mission to promote proactive participation in the development of complex economic and community issues in Orange County. For more information about BIA/OC, visit www.biaoc.com.
About KTGY Group, Inc.
Established in 1991, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, marketing and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland, and Santa Monica, and in Denver. See www.ktgy.com.
Hanley Investment Group Sells Multi-Tenant Retail Strip Center for $1,970,000 in Bellflower, Calif.
* * *
Nine Offers Received in the First Two Weeks
IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today Kevin T. Fryman and Eric P. Wohl of Hanley Investment Group represented the seller in the sale of a multi-tenant retail strip center in Bellflower, Calif. The purchase price was $1,970,000, representing a 7.37% capitalization rate.
The 9,171-square-foot multi-tenant strip center, known as Alondra Plaza, is located at 9345-9361 Alondra Boulevard in Bellflower. Positioned at the signalized intersection of Alondra Boulevard and Clark Avenue, the subject property is situated on a 0.50-acre lot and is located easily accessible from the 91, 105, 605 and 710 freeways. Built in 1979, Alondra Plaza was 100% occupied at the time of sale and included tenants Advance America and Domino’s Pizza.
“The buyer pool for multi-tenant strip centers in southern California of this size and scope remains strong,” said Kevin T. Fryman, a vice president at Hanley Investment Group.“We generated nine offers in the first two weeks of marketing the property, showing the high demand for this type of asset in today’s market.”
“The third quarter has shown an increase in buyer activity as more buyers and more offers are being generated on both single- and multi-tenant retail properties in southern California,” said Eric P. Wohl, a vice president at Hanley Investment Group. “How long this increase in activity is going to last is the big question, but for now it is a positive sign in a year that has been challenging in the commercial real estate sector.”
The buyer was a private investor from Los Angeles, Calif., represented by John Son at Lee & Associates in Orange, Calif. The seller was a private investor based in Los Angeles, Calif.
About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment advisory firm with a two billion dollar transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry. Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.
* * *
Nine Offers Received in the First Two Weeks
IRVINE, CALIF. – Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today Kevin T. Fryman and Eric P. Wohl of Hanley Investment Group represented the seller in the sale of a multi-tenant retail strip center in Bellflower, Calif. The purchase price was $1,970,000, representing a 7.37% capitalization rate.
The 9,171-square-foot multi-tenant strip center, known as Alondra Plaza, is located at 9345-9361 Alondra Boulevard in Bellflower. Positioned at the signalized intersection of Alondra Boulevard and Clark Avenue, the subject property is situated on a 0.50-acre lot and is located easily accessible from the 91, 105, 605 and 710 freeways. Built in 1979, Alondra Plaza was 100% occupied at the time of sale and included tenants Advance America and Domino’s Pizza.
“The buyer pool for multi-tenant strip centers in southern California of this size and scope remains strong,” said Kevin T. Fryman, a vice president at Hanley Investment Group.“We generated nine offers in the first two weeks of marketing the property, showing the high demand for this type of asset in today’s market.”
“The third quarter has shown an increase in buyer activity as more buyers and more offers are being generated on both single- and multi-tenant retail properties in southern California,” said Eric P. Wohl, a vice president at Hanley Investment Group. “How long this increase in activity is going to last is the big question, but for now it is a positive sign in a year that has been challenging in the commercial real estate sector.”
The buyer was a private investor from Los Angeles, Calif., represented by John Son at Lee & Associates in Orange, Calif. The seller was a private investor based in Los Angeles, Calif.
About Hanley Investment Group Real Estate Advisors
Built on a solid foundation of performance, integrity and dedication, Hanley Investment Group Real Estate Advisors is a boutique retail investment advisory firm with a two billion dollar transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations. Hanley Investment Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry. Hanley Investment Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved. Clients rely on Hanley Investment Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleyinvestment.com or call (949) 585-7610.
Wednesday, September 9, 2009
Downtown Walnut Creek to Debut First New Live-Work-Shop-Play Condo Homes
* * *
Developed By Thompson Dorfman Partners and Designed By KTGY Group and Kwan Henmi
IRVINE, CALIF. - Award-winning KTGY Group, Inc., Architecture + Planning, architect for 555YVR, announced today that Downtown Walnut Creek's first live-work-shop-play residences, 555YVR, are nearly completed.
Developed by Thompson Dorfman Partners with KTGY as the project architect, in conjunction with Kwan Henmi as the concept design architect, 555YVR is a modern, environmentally-friendly, transit-oriented development featuring 87 spacious one-bedroom, one-bedroom plus den and two-bedroom homes, as well as townhomes and live-work units, all featuring luxury finishes, stainless steel appliances and expansive floor-to-ceiling windows. Most homes have spacious private decks or patios.
Owing its name to its convenient location at 555 Ygnacio Valley Road in Walnut Creek, Calif., this exclusive address offers an innovative blend of stylish and sophisticated living in a central location within steps of downtown's hippest restaurants, trendiest boutiques, various cultural activities, and transit links to the rest of the Bay Area. It is the epicenter of effortless living with all the benefits of an exciting urban lifestyle in a thriving suburban setting.
"We are thrilled to complete 555YVR and advance a growing trend toward downtown living in Walnut Creek," said Bruce Dorfman, principal of Thompson Dorfman Partners, whose partners have been active Bay Area developers for more than two decades. "Residents of 555YVR will be able to enjoy great restaurants, nightspots, shopping and attractions within walking distance. And it is a block from the BART station. There is nothing like this in downtown Walnut Creek or in the I-680 corridor."
"555YVR's architecture is decidedly contemporary," said Stan Braden, AIA, NCARB, chairman and principal of KTGY. "The clean lines and a simple but elegant palette of materials and carefully executed common spaces signal a well-appointed community that is comfortable today and into the future."
Rising four-stories, these tasteful residences are topped by the Sky Lounge, an amazing rooftop terrace with an outdoor kitchen, fireplace, and breathtaking 360-degree views of the San Ramon valley and Mt. Diablo. Residents also enjoy a state-of-the-art media room, a private fitness center, a lushly landscaped courtyard with a water feature and bench seating, an on-site protected dog run and WiFi connectivity in common areas, ideal for tech-savvy professionals. There is also plenty of parking and ample storage in a gated 170-space subterranean garage.
555YVR's thoughtfully-planned homes offer exquisitely detailed basics, including expansive low-E energy-efficient floor-to-ceiling windows, which allow natural light and provide dramatic views; hardwood floors; European-styled kitchens with CaesarStone counter tops and premium stainless steel appliances from Bosch and Thermador; and, bathrooms in serene tones of taupe, bronze and ivory, Kohler Ladena sinks with polished chrome Kohler faucets, Italian tile floors and TOTO dual flush toilets. Most of the units have private outdoor decks or patios, 9' or 10' ceilings, and generous closet spaces with walk-in closets in the master suites.
Located on the former site of the JFK University, some of 555YVR's additional sustainable "green" features include innovative, energy efficient lighting; passive solar heating; water efficient landscaping; a "cool" roof deck, intended to reduce heat island and to minimize the impact on the microclimate, human and wildlife habitat; bicycle storage and bike racks available to residents; low-flow, water-efficient showerheads, lavatory sinks and kitchen faucets; use of low-VOC construction adhesives for all interior adhesives; environmentally-friendly interior trim and shelving; use of low-emitting paint meets the highest air quality standards; and light pollution reduction to improve nighttime visibility, night sky access and to reduce impact on nocturnal environments. The developer also diverted 50 percent of construction and demolition waste to promote recycling and reduce landfill waste.
"The live-work-shop-play environment minimizes commuting and lessens pollution as it includes close proximity to public transit lines, neighborhood parks and shopping centers, business and medical services, churches and schools," said Braden. "Furthermore, 555YVR's sustainable design and lower energy bills and pedestrian-friendly location increases affordability for residents, which is more important than ever in today's challenging economic climate."
"555YVR offers tremendous value in this marketplace and combines the best features of modern, luxury condo living, energy efficiency, and the outstanding benefits of a highly desirable location at the commercial, entertainment, and cultural heart of the city, along with easy freeway and BART access to anywhere in the Bay Area and beyond," said Dorfman.
He continues, "The city leaders encouraged us to include the six live-work units. It is a great way to take advantage of the prime visibility along the Ygnacio Valley Road. Each of these units has a separate entrance to commercial storefront on Ygancio Valley Road with a separate residence in the back or up a flight of stairs - they are perfect for service-based businesses."
The homes range in size from 763 square feet to 1,308 square feet with a wide variety of floor plans. Prices range from the low $300,000s to mid-$700,000s with initial occupancy slated for October 2009. To date, more than a quarter of the units have either been reserved or sold.
According to Paul Zeger, president of Pacific Marketing Associates, the Bay Area real estate marketing firm leading the development's sales activities, 555YVR "appeals to first-time homebuyers and empty nesters, and especially young professionals seeking style, convenience and fun in an urban setting, whether they commute to work in San Francisco via BART, or walk to work at Kaiser Permanente or John Muir Medical Center, just blocks away.
"555YVR is helping to establish a 24/7 rhythm in Downtown Walnut Creek," added Zeger. "For people not interested in big home maintenance and yard work, there's a real movement to simplify your way of living and take advantage of unique attractions only found downtown."
555YVR is within walking distance to trendy restaurants and nightclubs, world-class shops and a weekly Farmers' Market; and popular cultural, civic and entertainment destinations such as the public library, Civic Park, the Lesher Center for the Performing Arts and the Century Theaters. Also nearby are the 90 stores at Broadway Plaza, including Macy's, Nordstrom, Tiffany & Co., The Apple Store, and a proposed Neiman-Marcus. For easy commuting, the BART station is only two blocks away, with connections to Caltrains and local buses. Additionally, I-680 and I-24 access is close-by.
Contemporary interior finishes were selected by Kimberlee Colvin Interiors of Mill Valley, Calif. and Zen-inspired landscape design was completed by Cliff Lowe Associates in San Francisco.
For more information about 555YVR, visit the sales center (with on-site garage parking), located at 555 Ygnacio Valley Road, Walnut Creek, CA 94596 or call 925.280.8888 or visit online at www.555yvr.com.
About 555YVR
555YVR is Downtown Walnut Creek's new boutique condominium residences with occupancy fall 2009. Developed by Thompson Dorfman Partners and designed by noted Bay Area architects from Kwan Henmi and KTGY Group, 555YVR is a modern four-story structure featuring 87 one-bedroom, one-bedroom plus den and two-bedroom homes, as well as townhomes and live-work units. Residents share amenities such as a courtyard, private fitness center, state-of-the-art media room and Sky Lounge, a roof top terrace with outdoor kitchen and fireplace surrounded by spectacular 360-degree views of the valley and Mt. Diablo. 555YVR is conveniently located near downtown's trendy restaurants and nightspots, world-class shopping and weekly Farmers' Market, as well as civic and cultural attractions such as the public library, Civic Park, Century Theaters and Lesher Center for the Performing Arts. Residents have easy access to local transit and BART, as well as I-680 and I-24, connecting them to the rest of the Bay Area. 555YVR is marketed exclusively by Pacific Marketing Associates. The 555YVR Sales Center, open daily from 11 a.m. to 6 p.m., is located at 555 Ygnacio Valley Road in Downtown Walnut Creek, between Broadway and Main, just blocks from BART and I-680/I-24. For more information, call (925) 290-8888; or, visit online at www.555yvr.com.
About Thompson Dorfman Partners
Thompson Dorfman Partners, LLC is a real estate development and investment company. Formed in 1999 by Will Thompson and Bruce Dorfman, Thompson Dorfman focuses on multi-family residential development, with particular emphasis on well-sited, urban infill and mixed-use properties located in high growth, technology-driven markets in California. The principals of Thompson Dorfman have more than 25 years experience in the housing industry and Thompson Dorfman have collectively developed 10,000 multi-family homes in 40 California apartment and condominium communities. They have also expanded their services to provide development advisory, management and investment expertise to institutional and corporate land owners to assist on underperforming assets. In 2004, Thompson Dorfman formed Education Housing Partners, a California nonprofit public benefit corporation, in order to facilitate school districts and public agencies to build workforce housing for their employees. For more information, please visit www.thompsondorfman.com.
About KTGY Group, Inc.
Established in 1991, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, marketing and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, and in Denver. See www.ktgy.com.
* * *
Developed By Thompson Dorfman Partners and Designed By KTGY Group and Kwan Henmi
IRVINE, CALIF. - Award-winning KTGY Group, Inc., Architecture + Planning, architect for 555YVR, announced today that Downtown Walnut Creek's first live-work-shop-play residences, 555YVR, are nearly completed.
Developed by Thompson Dorfman Partners with KTGY as the project architect, in conjunction with Kwan Henmi as the concept design architect, 555YVR is a modern, environmentally-friendly, transit-oriented development featuring 87 spacious one-bedroom, one-bedroom plus den and two-bedroom homes, as well as townhomes and live-work units, all featuring luxury finishes, stainless steel appliances and expansive floor-to-ceiling windows. Most homes have spacious private decks or patios.
Owing its name to its convenient location at 555 Ygnacio Valley Road in Walnut Creek, Calif., this exclusive address offers an innovative blend of stylish and sophisticated living in a central location within steps of downtown's hippest restaurants, trendiest boutiques, various cultural activities, and transit links to the rest of the Bay Area. It is the epicenter of effortless living with all the benefits of an exciting urban lifestyle in a thriving suburban setting.
"We are thrilled to complete 555YVR and advance a growing trend toward downtown living in Walnut Creek," said Bruce Dorfman, principal of Thompson Dorfman Partners, whose partners have been active Bay Area developers for more than two decades. "Residents of 555YVR will be able to enjoy great restaurants, nightspots, shopping and attractions within walking distance. And it is a block from the BART station. There is nothing like this in downtown Walnut Creek or in the I-680 corridor."
"555YVR's architecture is decidedly contemporary," said Stan Braden, AIA, NCARB, chairman and principal of KTGY. "The clean lines and a simple but elegant palette of materials and carefully executed common spaces signal a well-appointed community that is comfortable today and into the future."
Rising four-stories, these tasteful residences are topped by the Sky Lounge, an amazing rooftop terrace with an outdoor kitchen, fireplace, and breathtaking 360-degree views of the San Ramon valley and Mt. Diablo. Residents also enjoy a state-of-the-art media room, a private fitness center, a lushly landscaped courtyard with a water feature and bench seating, an on-site protected dog run and WiFi connectivity in common areas, ideal for tech-savvy professionals. There is also plenty of parking and ample storage in a gated 170-space subterranean garage.
555YVR's thoughtfully-planned homes offer exquisitely detailed basics, including expansive low-E energy-efficient floor-to-ceiling windows, which allow natural light and provide dramatic views; hardwood floors; European-styled kitchens with CaesarStone counter tops and premium stainless steel appliances from Bosch and Thermador; and, bathrooms in serene tones of taupe, bronze and ivory, Kohler Ladena sinks with polished chrome Kohler faucets, Italian tile floors and TOTO dual flush toilets. Most of the units have private outdoor decks or patios, 9' or 10' ceilings, and generous closet spaces with walk-in closets in the master suites.
Located on the former site of the JFK University, some of 555YVR's additional sustainable "green" features include innovative, energy efficient lighting; passive solar heating; water efficient landscaping; a "cool" roof deck, intended to reduce heat island and to minimize the impact on the microclimate, human and wildlife habitat; bicycle storage and bike racks available to residents; low-flow, water-efficient showerheads, lavatory sinks and kitchen faucets; use of low-VOC construction adhesives for all interior adhesives; environmentally-friendly interior trim and shelving; use of low-emitting paint meets the highest air quality standards; and light pollution reduction to improve nighttime visibility, night sky access and to reduce impact on nocturnal environments. The developer also diverted 50 percent of construction and demolition waste to promote recycling and reduce landfill waste.
"The live-work-shop-play environment minimizes commuting and lessens pollution as it includes close proximity to public transit lines, neighborhood parks and shopping centers, business and medical services, churches and schools," said Braden. "Furthermore, 555YVR's sustainable design and lower energy bills and pedestrian-friendly location increases affordability for residents, which is more important than ever in today's challenging economic climate."
"555YVR offers tremendous value in this marketplace and combines the best features of modern, luxury condo living, energy efficiency, and the outstanding benefits of a highly desirable location at the commercial, entertainment, and cultural heart of the city, along with easy freeway and BART access to anywhere in the Bay Area and beyond," said Dorfman.
He continues, "The city leaders encouraged us to include the six live-work units. It is a great way to take advantage of the prime visibility along the Ygnacio Valley Road. Each of these units has a separate entrance to commercial storefront on Ygancio Valley Road with a separate residence in the back or up a flight of stairs - they are perfect for service-based businesses."
The homes range in size from 763 square feet to 1,308 square feet with a wide variety of floor plans. Prices range from the low $300,000s to mid-$700,000s with initial occupancy slated for October 2009. To date, more than a quarter of the units have either been reserved or sold.
According to Paul Zeger, president of Pacific Marketing Associates, the Bay Area real estate marketing firm leading the development's sales activities, 555YVR "appeals to first-time homebuyers and empty nesters, and especially young professionals seeking style, convenience and fun in an urban setting, whether they commute to work in San Francisco via BART, or walk to work at Kaiser Permanente or John Muir Medical Center, just blocks away.
"555YVR is helping to establish a 24/7 rhythm in Downtown Walnut Creek," added Zeger. "For people not interested in big home maintenance and yard work, there's a real movement to simplify your way of living and take advantage of unique attractions only found downtown."
555YVR is within walking distance to trendy restaurants and nightclubs, world-class shops and a weekly Farmers' Market; and popular cultural, civic and entertainment destinations such as the public library, Civic Park, the Lesher Center for the Performing Arts and the Century Theaters. Also nearby are the 90 stores at Broadway Plaza, including Macy's, Nordstrom, Tiffany & Co., The Apple Store, and a proposed Neiman-Marcus. For easy commuting, the BART station is only two blocks away, with connections to Caltrains and local buses. Additionally, I-680 and I-24 access is close-by.
Contemporary interior finishes were selected by Kimberlee Colvin Interiors of Mill Valley, Calif. and Zen-inspired landscape design was completed by Cliff Lowe Associates in San Francisco.
For more information about 555YVR, visit the sales center (with on-site garage parking), located at 555 Ygnacio Valley Road, Walnut Creek, CA 94596 or call 925.280.8888 or visit online at www.555yvr.com.
About 555YVR
555YVR is Downtown Walnut Creek's new boutique condominium residences with occupancy fall 2009. Developed by Thompson Dorfman Partners and designed by noted Bay Area architects from Kwan Henmi and KTGY Group, 555YVR is a modern four-story structure featuring 87 one-bedroom, one-bedroom plus den and two-bedroom homes, as well as townhomes and live-work units. Residents share amenities such as a courtyard, private fitness center, state-of-the-art media room and Sky Lounge, a roof top terrace with outdoor kitchen and fireplace surrounded by spectacular 360-degree views of the valley and Mt. Diablo. 555YVR is conveniently located near downtown's trendy restaurants and nightspots, world-class shopping and weekly Farmers' Market, as well as civic and cultural attractions such as the public library, Civic Park, Century Theaters and Lesher Center for the Performing Arts. Residents have easy access to local transit and BART, as well as I-680 and I-24, connecting them to the rest of the Bay Area. 555YVR is marketed exclusively by Pacific Marketing Associates. The 555YVR Sales Center, open daily from 11 a.m. to 6 p.m., is located at 555 Ygnacio Valley Road in Downtown Walnut Creek, between Broadway and Main, just blocks from BART and I-680/I-24. For more information, call (925) 290-8888; or, visit online at www.555yvr.com.
About Thompson Dorfman Partners
Thompson Dorfman Partners, LLC is a real estate development and investment company. Formed in 1999 by Will Thompson and Bruce Dorfman, Thompson Dorfman focuses on multi-family residential development, with particular emphasis on well-sited, urban infill and mixed-use properties located in high growth, technology-driven markets in California. The principals of Thompson Dorfman have more than 25 years experience in the housing industry and Thompson Dorfman have collectively developed 10,000 multi-family homes in 40 California apartment and condominium communities. They have also expanded their services to provide development advisory, management and investment expertise to institutional and corporate land owners to assist on underperforming assets. In 2004, Thompson Dorfman formed Education Housing Partners, a California nonprofit public benefit corporation, in order to facilitate school districts and public agencies to build workforce housing for their employees. For more information, please visit www.thompsondorfman.com.
About KTGY Group, Inc.
Established in 1991, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, marketing and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, and in Denver. See www.ktgy.com.
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