MAY 2024

26A — May 2024 — Commercial Real Estate Across America — M id A tlantic Real Estate Journal

C ommercial R eal E state A cross A merica

Rock and Schefcik represent Totem Foods Avison Young arranges lease for new DVS inspection station B ROOKLYN CEN- TER, MN – Avison Young has arranged

4 th valuation consulting firm recently acquired Marshall & Stevens gains NJ SBA Valuation Firm

serve the SBA division of these banks,” said Mark Santar- siero , president, and CEO of Marshall & Stevens. “Marshall & Stevens pro- vides a broad portfolio of valu- ation and consulting services to financial institutions. Our team is excited to join forces to better serve our clients and the SBA community,” said Robert Vafiadou, CVA , director, Reliant Business Valuation. “We receive requests for com- mercial real estate appraisals, litigation support, and with complex estate and gift tax reporting analyses. Now, we can now help all those clients.” Marshall & Stevens’ re - cent acquisitions of Rocky Mountain Advisory, Lone Peak Valuation Group, and Value Consulting Group included experts in investiga- tive accounting, receivership, bankruptcy, restructuring, and workout consulting for financial institutions and other clients. Acquiring Reliant adds SBA valuation specialists to the Marshall & Stevens ser- vices platform. MARSHALL & STEVENS Founded in 1932, Marshall & Stevens works with public and private companies, investors, and trusted advisors to assist with mergers, acquisitions, divestitures, and financings, financial reporting, tax plan - ning and reporting, as well as matters of dispute, distress, insurance, and compliance. Marshall & Stevens is relied upon for independent Fairness Opinions, Solvency Opinions, and valuations of businesses, securities, intangible assets, equipment, and real estate. We have credentialed special- ists who perform receivership services and restructuring con- sulting, investigative account- ing, damages calculations, and expert witness testimony for parties requiring assistance with workouts, bankruptcy, restructuring and recapital- ization, divorce, and business disputes. MAREJ

LOS ANGELES, CA — Marshall & Stevens, Inc. , a premier independent valuation

and dispute consulting firm, an- nounce d the acquisition of Reliant Business Valuation and Reliant Equipment Appraisals

a new 8,330 s/f lease on behalf of owner Totem Foods in a former Big O Tires building at 5501 North Xerxes Ave. in Brooklyn Center. The former tire store will become a new Driver and Vehicle Services (DVS) inspection station and is part of that agency’s efforts to meet ballooning demands by opening new locations in Rochester, Mankato, Fergus Falls, and Bemidji, as well as extended hours in Duluth and St. Cloud. Totem Foods was repre- sented by Jim Rock and Su- zanne Schefcik , both based in Avison Young’s Minneapolis office. DVS was represented by the State of Minnesota and is expected to move into the space starting in September 2024. “Since the onset of the pan- demic there have been pipeline issues creating difficulties to ac - quire new and used cars. Prices for vehicles have become ex- ceptionally high. This has cre- ated new demand for salvage NASHVILLE, TN — Towne Park, a tech-enabled, multi- service parking and hospitality solutions provider, announced the acquisition of 100+ com- mercial parking locations na- tionwide. This acquisition significantly enhances its com - mercial parking operations, while also expanding its foot- print and market leadership in the attractive Nashville, TN market. Financial terms of the transaction were not disclosed. Founded in 1988, Towne Park leverages its industry- leading technology and human capital platform to provide exceptional client and cus- tomer experiences, all while driving enhanced profitability for clients through revenue- generating solutions. With these additional commercial parking facilities, Towne Park NASHVILLE, TN — KKR , a global investment firm, announced that KKR has acquired a two-building class A logistics property in the Nashville Airport submarket. Terms of the transaction were not disclosed.

Mark Santarsiero

5501 North Xerxes Ave.

(together Reliant ), headquar- tered outside Princeton, NJ. Reliant is the fourth valuation consulting firm recently ac- quired by Marshall & Stevens. Founded in 2009, Reliant has established itself as one of the most respected sources for Small Business Associa- tion (SBA) valuations and appraisals. The Reliant team is a resource for hundreds of financial institutions and their small business clients, provid- ing business and equipment appraisals that meet SBA 7(a) loan requirements. Reliant has also established relationships with national franchise enter- prises who rely upon them for business and equipment valua- tions for buy/sell consideration. Small businesses partner with their local financial in - stitutions to support the start and growth of their enter- prises. Credit departments at these banks require specific analyses from licensed or cre- dentialled professionals that meet bank and regulatory compliance. Marshall & Ste- vens is regularly engaged by financial institutions to pro - vide independent valuations of commercial real estate, special purpose property, intangible assets, and equipment as well as Solvency Opinions. “Financial institutions around the globe rely on Mar- shall & Stevens for the inde- pendent analyses, opinions, and information they require to make critical financing de - cisions. The addition of Reli- ant means we can now better BELLEVUE, WA — Ter- reno Realty Corporation , an acquirer, owner and opera- tor of industrial real estate in six major coastal US mar- kets, announced that it has executed a lease for 5.5 acres of improved land in Newark, New Jersey with an automo- bile exporter. The lease com- menced May 16, 2024 and will expire January 2028.

vehicles or those declared total losses by insurance companies. The State of Minnesota is try- ing to keep up with this demand and ensure these vehicles are repaired with legal parts,” said Schefcik. “Nearly all the state’s nine inspection stations are overbooked, and the property on Xerxes Avenue, with its five bays, will double DVS’ capacity in the Twin Cities.” The property at 5501 Xerx- es Ave. sits on a 2.15-acre lot and is in a highly visible area of Brooklyn Center. It sits near area’s popular restau - rants as well as the Shingle Creek Crossing Center and is located near Highway 100 and Brooklyn Blvd. aims to address the growing demand for safe, efficient and convenient parking solutions while upholding its commit- ment to delivering exceptional customer experiences and profitable parking services for its clients. This acquisition, which sup- ports Towne Park’s growth strategy, includes 100+ loca- tions nationwide, and brings an additional 25,000+ park- ing spaces to the Towne Park portfolio with a significant concentration in Nashville, as well as a presence in the Hous- ton, Knoxville, Los Angeles and Washington, DC markets, among others. “The addition of these new facilities demonstrates our commitment to pursuing stra- tegic acquisitions that allow us to build on our national The two-building logistics property is strategically lo- cated adjacent to Nashville In- ternational Airport, with direct access to downtown Nashville and immediate proximity to the I-24, I-40, and I-65 major interstate trucking highways.

Avison Young creates real economic, social and environ- mental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence plat- forms that provide clients with insights and advantage. To- gether, we can create healthy, productive workplaces for em- ployees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community. MAREJ presence and broaden our service offering, while simul- taneously complementing our industry-leading, data-centric platform for innovative park- ing solutions,” said Andrew Kerin , CEO of Towne Park. “By expanding our commer- cial parking business, we are strengthening the ability to meet the various parking needs of our clients and customers and increasing our presence in the important Nashville mar- ket. We are excited to welcome new employees to Towne Park and are committed to provid- ing a seamless transition and the same experience our cli- ents and customers have come to expect.” Grant Thornton acted as fi - nancial advisor and Kirkland & Ellis acted as legal advisor to Towne Park. MAREJ The second of the two multi- tenant industrial buildings was completed in 2023. The proper- ty features 30-foot and 32-foot clear heights with cross-dock and rear-loading, excess power, and excellent access and site circulation. MAREJ

Towne Park expands commercial parking business portfolio into Nashville, TN market

In a second transaction, Ter- reno has completed an early lease renewal and expansion in Fremont, California with an Advanced Air Mobility provider. The renewal lease of 30,000 s/f, which was to expire in February 2025, will now ex- pire August 2029. The expan- sion lease of 41,000 square feet will commence June 2024 and expire August 2029. MAREJ Terreno executes lease in Newark, NJ

KKR acquires Nashville, Tennesee logistics property

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