The Mecklenburg County Assessors office most recently assessed the property at about $24.5 million. Breaks Ground on Phoenix-Area MOB. The area comprises more than four million square feet of office space, housing businesses in diverse industries such as technology, energy, finance and healthcare and almost 25 Fortune 500 companies. Prior to JLL, Mr. Grafft was a property manager with Potts & Associates, a development company located in the San Francisco East Bay. Mr. Rossi earned an B.A. In 2003, he joined the executive committee of Cerberus Capital Management. It recently landed Scout Motors, which plans to open a $2 billion EV manufacturing facility in the state. Prior to joining Shorenstein, Mr. Corey was an investment analyst for Mousse Partners, an institutionally sized family office where he performed due diligence on global private equity funds, primarily in the real estate, infrastructure and resources sector. She is also responsible for the companys risk management and corporate secretary functions. Mr. Cashin is a member of the Building Owners and Managers Association and the Institute of Real Estate Management. As Chief Operating Officer, Mr. Calabreses responsibilities include overseeing the companys Accounting, Information Technology, Risk Management, Property Management and Construction Services, and Operations functions. These funds have invested in properties totaling 67 million square feet in transactions with a gross investment value in excess of $16 billion. Previously, he was a vice president with L&L Acquisitions, LLC, where he was responsible for acquisitions, fundraising and portfolio management, and prior to L&L Acquisitions, worked as an associate in the Acquisitions Group for The Carlyle Groups real estate opportunity funds. With the Company's first acquisition in Charlotte dating back nearly three decades, Shorenstein's commitment to the city and track record in the Charlotte market remains unparalleled. Jack Corey joined Shorenstein in 2010. All Rights Reserved. Mr. Shorenstein was an advisor to Presidents Lyndon Johnson, Jimmy Carter, and Bill Clinton. He serves on the Investment Board of GIC, Singapores sovereign wealth fund, and is a member of Singapores International Academic Advisory Panel. In Charlotte, Shorenstein is involved in the redevelopment of Camp North End, a 76-acre site featuring creative office, retail and industrial space. and Rutgers University with an M.B.A. Jim Pierre joined Shorenstein in 2000. in History. Prior to joining Shorenstein, Ms. Shorenstein spent two years at Prado Group, a real estate development and investment management company located in San Francisco. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. He participates in the strategic direction of the company as a member of its executive committee. With the Companys first acquisition in Charlotte dating back nearly three decades, Shorensteins commitment to the city and track record in the Charlotte market remains unparalleled. About Shorenstein Properties LLC https://www.prnewswire.com/news-releases/shorenstein-properties-announces-sale-of-campus-in-charlottes-university-research-park-301705900.html. Mr. Shanks is a member of the Urban Land Institute, US Green Building Council, and serves on Mr. Kirk is a member of American Society of Heating, Refrigeration, and Air Conditioning Engineers, Association of Energy Engineers and Real Estate Round Table. Upon Doug Shorensteins death in 2016, Mr. Rossi became chairman of the company. Mr. Pierre graduated from University of California at Santa Barbara with a B.A. Steve Shanks joined Shorenstein in 2020. Since Shorensteins initial investment in 2019, the property has undergone a complete, full-scale renovation, transforming the Commons at the Park into a workplace oasis. He is responsible for evaluating and executing many of the companys residential and commercial development projects throughout the country. Shorenstein intends to extensively redevelop the Property into a high-quality Class-A office project with outdoor amenity space, increased parking capacity, and enhanced access to surrounding roadways. SAN FRANCISCO, Oct. 21, 2019 /PRNewswire/ -- Shorenstein Properties LLC ('Shorenstein'), an owner and operator of high-quality office, residential. After Mr. Shorenstein stepped back from day-to-day management of the company in the early 1990s, his deep experience continued to offer the company an important source of strategic guidance and advice. Eric Hansen joined Shorenstein in 2021. Mr. Baker is also a board member of Stanford Management Company, the firm that manages the Stanford University endowment. Mr. Wick graduated from the Foster School of Business at the University of Washington with a B.A. Working with the Environmental Defense Fund, in 2013, Mr. Shorenstein established the Building Energy Initiative which created a replicable model for building owners to cost-effectively identify and implement energy management practices that drive both costs savings and emissions reductions. Professional Engineer and previously worked as a structural engineer with Thornton Tomasetti, Prior to joining Shorenstein, Mr. Malet was a vice president at Cornish & Carey Commercial for eight years, where he served as an agent for commercial properties and sales, handling leasing assignments for both landlords and tenants. Brandon Shorenstein joined Shorenstein in 2012. Spanning seventy-six acres, Camp North End, is home to hundreds of employees across sectors; the mix of office, retail, restaurants and public spaces make the campus a vibrant neighborhood center. in mathematics from Yale University and an M.B.A. from the Stanford Graduate School of Business. About Stiles Sean Fay previously worked at Shorenstein in 2015 and rejoined in 2020. He is a former senior advisor for Jobs and Economic Development for the Governor of the State of California, chairman of the California Workforce Development Board, a director of the California High Speed Rail Authority, chairman of the board of the Monterey Institute of International Studies, Lifesavers, the California Infrastructure and Economic Development Bank, Visit California, California China Trade Association, Energy Principal for the State of California, the American Diabetes Association of Northern California, Chairman of CASA, chairman of Cal Competes, board member of the San Francisco Opera, and board member of the University of California Art Museum. She is also responsible for the physical and financial due diligence for all acquisitions, financings and dispositions in her region. Located in Charlotte's University City submarket, the Property is situated among one of the city's most populous corporate hubs and sits directly across the street from Innovation Park, the nearly 2-million-square-foot campus originally occupied by IBM. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. Founded in 1960, Shorenstein Properties LLC is a privately-owned, real estate firm that owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Currently, Mr. Baker serves on the board of Corcept Therapeutics and several private companies. Mr. Malet is a member of the Urban Land Institute. Founded in 1924, Shorenstein Properties LLC is a privately-owned, real estate firm that owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Terms of the transaction were not disclosed. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Shorenstein Publishes 2023 ESG Report and Highlights Industry-Leading Achievements. Sandra Shorenstein joined Shorenstein in 2017. Prior to serving as vice chairman, Mr. Rossi was Bank of Americas Chief Credit Officer. Lisa Mize joined Shorenstein in 2005. Jessica Brown, an Executive Director at Cushman & Wakefield, is the office leasing agent for the project. Ms. Stein is a member of the Young Presidents Organization (YPO). Shorenstein's remaining investments in Charlotte include Camp North End, a mixed-use office campus, and an office development in the South end, at 110 East. Fax: (954) 627-9188, NORTH CAROLINA OFFICE She is responsible for oversight and management of the companys accounting, audit and tax functions, including budgeting, forecasting, and treasury services. Your article was successfully shared with the contacts you provided. Ms. Rainer is a member of the Urban Land Institute and serves as president of the board of directors for the historic Paramount Theatres of the Arts in Oakland. Founded in 1960, Shorenstein Properties LLC is a privately-owned, real estate firm that owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York.Since 1992, Shorenstein has sponsored thirteen closed-end investment funds with total equity commitments of $9.5 billion, of which Shorenstein committed $798.5 million Located in Charlotte's innovation and research hub, University. Shorenstein invests in office and mixed-use properties located in dynamic markets across the United States. Image via Google Street View. Previously, he was an analyst in the Transaction Real Estate practice at Ernst & Young, advising real estate clients. She manages the companys fund management group and oversees the execution of its responsibilities, including fund-raising, investor relations, and investor reporting. Manage. He is responsible for sourcing, evaluating, negotiating, and closing capital transactions in the Eastern United States. Copyright 2023 ALM Global, LLC. He is responsible for overseeing the companys property management and construction activities for all investments in the Western United States. Fort Lauderdale, FL 33301 Ms. Tsuruta graduated from UC San Diego with a BSc in Environmental Engineering and holds a MSc in Urban Planning and Management from Aalborg University. In 2007, Mr. Shorenstein was elected to the board of the Federal Reserve Bank of San Francisco, and served as its chairman in 2011 and 2012. John Boynton joined Shorenstein in 2006. Shorenstein Properties LLC has sold the Commons at the Park, a 430,000-square-foot, two-building adaptive reuse campus on a 63-acre wooded site in the University Park area of Charlotte, N.C., Shorenstein announced on Monday, Dec 19. Mr. Ghnaim graduated with a B.S. , . Commons at the Park. This white paper analyzes changes in shopping center visitor behavior to see how malls are maintaining relevance in 2023. Prior to joining Shorenstein, Mr. Brush was director of institutional reporting at Interstate Equities, where he was responsible for overseeing the finances and performance reporting for a six-property portfolio. The firm uses its integrated investment and operating capabilities to take advantage of opportunities that, at the particular time in the investment cycle, offer the most attractive returns. Mr. Shanks is also a licensed We are strong believers in the potential of Charlotte, and we are excited to continue creating, designing and building interesting, safe and forward-thinking spaces for tenants and communities here in Charlotte for many years to come., Jack Corey, Vice President at Shorenstein Properties, added, As tenants change the way they use office space, Shorenstein is positioned to continue to meet the rising demand for high-quality, luxury office space with world-class architecture and amenities. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. Terms of the transaction were not disclosed. Duvall Investment Group 212 South Tyron Street Suite 1050, Charlotte, NC 28281. Stiles is a full-service commercial real estate firm with a clear mission: Invest. In 2020, Mr. Rossi returned to his previous role as senior advisor to the company and serves on the Investment Committee. She is responsible for overseeing the investment business activities for the Shorenstein family and the investment performance of the multifamily portfolio owned by the Shorenstein family. Mr. Jaber graduated from California State University, East Bay with a B.S. project management, and initial tenant improvements. For more information, please visit http://stiles.com or call 954-627-9300. Prior to joining Shorenstein, Mr. McCarthy was a vice president at General Electric Investments and GE Capital where his responsibilities included real estate acquisitions, dispositions and financings. Prior to that, Mr. Calabrese was part of Rockwoods asset management team, specializing in loan workouts and the management of over two million square feet of office, retail, and mixed-use assets. Ms. Weber graduated with a B.S. Walter Shorenstein joined the brokerage firm Milton Meyer & Company in 1946 after being discharged from military service as a Major. Located in Charlotte's innovation and research hub, University Park, the Commons at the Park is a 430,000-square-foot, adaptive re-use campus situated on a 63-acre wooded site. 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