Stream Realty Partners Strengthens Southern California Presence With Significant Gains; Builds Momentum for Continued Expansion
Stream Realty Partners Strengthens Southern California Presence With Significant Gains; Builds Momentum for Continued Expansion in 2014
Firm Closes 2013 With More Than 50 Percent Year-Over-Year Growth
IRVINE, CA -- (Marketwired) -- 01/14/14 -- Stream Realty Partners announces tremendous growth in 2013 with 1.56 million square feet of leasing and management wins of retail, office and industrial properties throughout Southern California. To account for the 52 percent year-over-year increase in responsibilities awarded through these new assignments, Stream Realty increased the number of employees, including the recruitment of two new vice presidents. Stream Realty forecasts continued expansion in 2014 through its consultative approach to maximizing occupancy rates at each property.
"The past year has been extremely successful for our firm," said Colby Annett, co-managing partner of Stream Realty. "In a highly concentrated market, 2013 proved that our strategic approach to leasing and management of commercial properties provides a level of service that is appealing to tenants, owners and investors."
In 2013, Stream Realty was awarded leasing and management responsibilities of 18 retail, office and industrial properties, including:
-- 2040 Main: Owned by 2040 Main, LLC, Stream Realty won leasing and rebranding responsibilities of this 307,559 square-foot Class A office building located in the OC Airport Submarket. -- Anaheim Corporate Plaza: Seligman Western Enterprises, LTD., owner of this five-building campus in central Orange County, assigned Stream Realty leasing and rebranding responsibilities for the 300,158 square-foot complex. Seligman is currently planning capital improvements to begin in the first quarter of 2014. -- Avalon West Hollywood: Stream Realty won leasing assignments to the 38,000 square-foot mixed-use development in the heart of West Hollywood at 7300-7308 Santa Monica Blvd. The property has more than 32,000 square feet dedicated to retail space. Completion of the property is scheduled for early 2016. -- Fountain Plaza: Stream Realty was assigned leasing responsibilities of this 54,677 square-foot office space located in Irvine, Calif., which is currently 69 percent leased. -- Liberty Property Trust Portfolio: Owner of more than 170 industrial properties throughout the United States and United Kingdom, Liberty selected Stream Realty to manage all seven California properties totaling 670,978 square feet. -- Newport Plaza: Recently purchased by Goldman Sachs, both leasing and management responsibilities of this 107,472 square-foot Class A office complex were awarded to Stream Realty. -- Von Karman Tech: Stream Realty, previously leasing the building, won management and rebranding responsibilities of this property in 2013. HighBrook Investment Management, LP purchased the property at the beginning of year and invested more than $1.5 million in improvements. VKT is a 100,892 square-foot building in Irvine, Calif. and has seen nearly a 20 percent increase in occupancy rates in 2013. -- Westgate Pasadena: Equity Residential assigned Stream Realty retail space leasing responsibilities of Phase 2 and Phase 3 at this mixed-use development spanning 12 acres in downtown Pasadena, Calif.
To supplement the responsibilities awarded, Stream Realty grew its Southern California team, including the recruitment of two vice presidents. 2013 was the third consecutive year that Stream Realty Partners was named to the Orange County Business Journal's "Best Places to Work" list and the firm expects to continue hiring in 2014.
"With our growing business operations, we recruited new talent that would provide the best services to our clients," said Blaine Annett, co-managing partner. "Our unique company culture attracts brilliant real estate professionals and we have added nearly 100 new team members nationwide."
In 2014, Stream Realty anticipates continued expansion and awarded assignments through its consultative approach to leasing and management of Southern California commercial real estate properties, while building greater partnerships with existing and future institutional clients.
ABOUT STREAM REALTY PARTNERS: Stream Realty Partners, L.P. is a full-service real estate investment, development and services company. Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of over 450 real estate professionals nationwide with office locations in Washington, DC; Atlanta; Austin, Texas; Charlotte, N.C.; Dallas/Ft. Worth; Denver; Houston; Los Angeles; Orange County, Calif., and San Antonio. Stream Realty leases and/or manages more than 4.56 million square feet of space in Southern California and more than 100 million square feet of commercial buildings in the nation; completes over $1 billion in real estate transactions annually; and is considered one of the most active investors and developers in the Southwest. Stream Realty creates a distinct culture that is best summarized by its company values: Nice. Smart. Honest. Passionate. www.streamrealty.com