GE Capital | Real estate project consultants for feasibility analysis to support lender’s analysis of planned flex-tech office development. StoneCreek Partners prepared a market feasibility evaluation of this El Segundo (Los Angeles County) flex-tech office park, as part of underwriting for a loan by lender GE Capital to the project’s developer. Study included review of comparable facilities throughout Southern California.
Kajima U.S. | Market and financial feasibility study, with tenanting strategy recommendations, for planned landmark office development in Long Beach, California. The project has since been completed. One World Trade Center is a 30-story office building, 397 feet (121 meters) high, adjacent to the 20-story Hilton Long Beach known as Two World Trade Center.
Paramount Group Inc. REIT | StoneCreek Partners was retained to provide real estate advisory services in connection the repositioning of this office complex’s retail podium. The repositioning program consisted of a $40 million capital spend that would re-position the 60,000 SF retail podium for this landmark office building.
The complex, One Market Plaza, features two high-rise towers on top of a six-story office building, a two-story subterranean and parking garage. The historic 11-story Southern Pacific Building, also known as “The Landmark”, was completed in 1916, and incorporated into the development in 1976. Situated prominently along the San Francisco Bay, the office and retail complex comprises an entire city block between Market and Mission Street and Steuart and Spear Street.
The Pavilion Event Space at One Market Plaza is one of San Francisco’s premier event venues. The Pavilion Event Space is made available for special events in this dramatic space. In addition, there are two landscaped patios on the 7th Floor with sweeping panoramic views of the Bay.
The Scope of Work for StoneCreek Partners included review of market support from nearby financial district employees and visitors, re-tenanting mix, guest circulation retrofits, and related subjects. The repositioning of this office Complex’s retail podium has since been completed.
Report including market support analysis, tenant leasing market conditions, tenanting prospects, tenant space bond yields, construction cost estimates, and projections of property operating results (EBITDA).
Shimizu North America | Financial analysis and prototypical deal structuring for a planned office tower to be developed along the Wilshire Corridor in Los Angeles, California. Analysis included impact of tenant leasing program, leasing velocity, lease roll-overs, and the like. Project investment returns were tested for an array of scenarios regarding inflation, months vacant upon roll-overs, and rental step-up lease provisions. IRR analysis included review of sensitivity of different contribution components of partitioned rates-of-return.