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INVESTMENTS

We produce real estate partnerships that exceed typical returns,
while treating investors as family.

At Starboard Realty Partners, we have a different approach to the real estate investment market. We focus our objectives in four main areas so that we can provide the best returns for our clients.

One of the things that makes us unique is the competency of our team. Every member of the Starboard investment team is a seasoned professional with over 20 years of extensive experience researching commercial real estate markets, neighborhoods and properties.
Our policy has always been one of honest, open communications with our investors. We provide quarterly performance reports on all of the properties that we own. Also, the Starboard team will ensure that investors are informed of any significant changes in the market events, trends, or opportunities.
At Starboard, our investors are the number one priority. We produce real estate partnerships that exceed typical returns, while treating investors as family. Our commitment to our investors is that we will only invest in the “right” properties so that we are minimizing risk and ensuring the highest possible rate of return.
Our team spends a great deal of time researching property values, locations, market conditions, growth potential and the overall real estate climate. Our extensive research serves as the backbone of our confidence in knowing which assets we should pursue in various markets at different points in their respective cycles.

8.4 Acre Industrial Park Investment

Available Now!

Denver, CO

Starboard Realty Partners is pleased to present the opportunity to invest in our acquisition of the Hampden Industrial Park a four (4) building, multi-tenant, low-finish industrial business park totaling 121,612 rentable square feet situated on one (1) parcel totaling approximately 8.4 acres. The property is ideal for small industrial/service center and automotive users and located in the well-established South Central Denver submarket. Improvements include 11′ to 13′ warehouse clear heights for the grade level served buildings, abundant parking at a ratio exceeding 3.6 stalls per 1,000 rentable SF, a secured fenced yard for select users utilizing a disproportionate share of parking, common-area painting booth and car wash, and an air compressor system with redundant backup that services tenants in all buildings. The latter three amenities are not available in any directly competing parks.

The project was constructed in phases, with Building A constructed in 1971/72 and Buildings B, C and D later developed in 1986. Most of the units feature nominal offices and thus landlord-provided HVAC is limited to approximately 9 (of a total of 83) units. We have set aside reserves for the installation of a 10-year elastomeric coating to the existing metal roofs, together with aesthetic upgrades to the property, including exterior painting, upgrades to monument and billboard signage, landscaping upgrades and parking lot repairs and slurry.

We are purchasing Hampden Industrial Park at 100% occupancy with in-place rents ranging from 15% to 30% below current market levels (depending on the unit) as the existing ownership (local owner with extremely low basis) has been focused on preserving occupancy and not pushing rents. Current rents at the project (ranging from $11.00 – $13.50 gross) are in line with asking rates at competing parks, but for units at least twice as large in size. Tenants, specifically providing automotive services, do not have options when seeking to lease less than 2,000 square feet. Moreover, many of the competing parks cannot offer space leased for automotive related uses. Following completion of our budgeted improvement plan, the property is poised to benefit from a more aggressive marketing and property management campaign to push rents and increase income. Leasing of the property was conducted by an on-site property manager with little knowledge on the market, minimal leasing experience and a reluctance to push rents due to personal relations with the tenants. Moreover, increasing rents to market levels should be expedient as all tenants, excluding one, have leases that either expire in less than 12 months or are leased on a month-to-month basis.

Profit potential will be realized through minor capital improvements, lowering expenses and removing of duplicative services (e.g. salary to onsite manager and property management fee), converting existing leases from gross to triple net (NNN) structure (to prevent loss of revenue growth following property tax reassessment) and increasing current rents to market. Additional profits can be realized by increasing the rentable area of a handful units to include covered loading areas (permitted by BOMA and longstanding industry standard) and by converting select units to “automotive man caves” that we can lease at significant rental premiums after a minimal investment improving the unit.

Should you have any questions about the property, the zoning and/or our business plan, please do not hesitate to contact us at the number below.

949-851-2020

Starboard Realty Partners /WLA Investments

Request More Information

Please check back soon!

ACQUISITION
CRITERIA

FOR ALL INQUIRIES CONTACT:
acquisitions@starboardrp.com

Property Type: Industrial & Multi-Family (Primary)
Office (Secondary)
Transaction Size: $5M – $20M (with Friends & Family Equity)
$20M – $100M (with High Net Worth & Institutional Equity)
Locations: • All of California
• Portland, OR
• Seattle, WA
• Phoenix, AZ
• Las Vegas & Reno, NV
• Denver, CO
• Salt Lake City, UT
• Dallas & Austin, TX
Risk Profile: Opportunistic & Value-Add (Primary)
Core-Plus (Secondary)

CURRENT PORTFOLIO

  • Sears Distribution Center
    __________

    1,306,000 Sq Ft Multi-Tenant Industrial Project
    Denver, CO

  • Hampden Industrial Park
    __________

    121,612 Sq Ft Multi-Tenant Industrial Project
    Denver, CO

  • Seaview La Jolla
    __________

    12 Res/Condos & 7 Retail/Condos Project
    San Diego, CA

  • Chaparral Business Park
    __________

    146,175 sq ft Multi-Tenant Industrial
    Denver, CO

  • Hershey Industrial
    __________

    15,897 sq ft multi-tenant industrial
    Pomona, CA

  • Starboard Macarthur Square
    __________

    58,277 SF Shopping Center
    Newport Beach, CA

  • Bridge Office Building
    __________

    135,301 sq.ft. office building
    Murray, UT

  • Union Park Office Buildings
    __________

    108,158 sq.ft. office buildings
    Salt Lake City, UT

  • Independence Office Buildings
    __________

    115,328 sq.ft. office buildings
    Murray, UT

  • Airport Park
    __________

    149,995 sq. ft. industrial/office bldgs
    Salt Lake City, UT

  • Atrium Office Building
    __________

    65,058 sq. ft. office building
    Salt Lake City, UT

  • Arapahoe Corporate Park
    __________

    99,659 sq. ft. multi-tenant industrial
    Denver, CO

  • Meredith Apartments
    __________

    22 unit apartment project
    Salt Lake City, UT

  • Airport Business Park
    __________

    39,994 sq. ft. multi-tenant industrial
    Phoenix, AZ

  • Covey Apartments
    __________

    128 unit apartment project
    Salt Lake City, UT

  • Hatcher Industrial Park
    __________

    37,310 sq. ft. multi-tenant industrial
    Phoenix, AZ

  • Terrace Apartments
    __________

    177 unit apartment project
    Salt Lake City, UT

  • 19th Avenue Business Park
    __________

    17,721 sq. ft. multi-tenant industrial
    Phoenix, AZ

  • Ralston KMGT
    __________

    105,000 sq ft retail center
    Arvada, CO

  • Roosevelt Business Park
    __________

    222,335 sq ft multi-tenant industrial
    Phoenix, AZ

  • Merrit Industrial Park
    __________

    115,472 sq ft industrial park
    Dallas, TX

  • Arcadia Corporate Park
    __________

    109,175 sq ft industrial park
    Phoenix, AZ

  • Gate at Canyon Ridge Apartments
    __________

    167 Unit Apartment Project
    Salt Lake City, UT

  • Switzer Business Park
    __________

    123,000 sq ft multi-tenant industrial
    Dallas, TX

HISTORIC PORTFOLIO

WHY STARBOARD

POINT OF
DIFFERENCE

Because we invest for friends and family, as well as for institutional entities who have many individuals counting on them to protect and grow their investments, we never forget that we are working on behalf of real people.

 

We ourselves are investors in every deal, as well. This is due to the fact that we believe in our ability to identify true opportunities.

Because we’re not in a fund, and don’t exchange, we can be more judicious and opportunistic, investing only when we find more certainty of success. 

It is this caring and conservative approach, combined with our expertise, that has led us to provide our investors with a 36.1 percent average annual rate of return on their investments. Click here to view a summary of assets we previously sold, together with return rates individually and portfolio-wide.

TEAM

READ BIO

PAUL C. BELDEN

Principal

READ BIO

JON S. SCHISLER

Principal

READ BIO

DAN N. VITTONE

Principal

PAUL C. BELDEN

Principal

Paul brings nearly thirty years of extensive professional real estate skills to the team at Starboard Realty  Partners. He joined the original firm. WLA Investments, in 1997 and has participated in investment real estate decision making for the company since that time.

One of Paul’s major responsibilities is the selection of regions throughout the United States that produce successful real estate investments. Determining the location and timing of markets that will grow in value has been one of the primary reasons for the portfolio’s continuing success.

Throughout his career, he has gathered expertise in brokerage, management, entitlement, and construction in commercial real estate. Evaluating and implementing each asset’s individual profit potential through capital and management improvements, competitive financing, and the creation and promotion of management incentives to increase revenues and cut costs have been key to his success with the assets in each market.

Paul earned his Bachelor of Science from California Polytechnic State University at San Luis Obispo and is a licensed California real estate broker.

JON S. SCHISLER

Principal

Jon is responsible for new investment opportunities, acquisition, financing, development, management, and disposition of real estate assets for Starboard Realty Group, and for the existing WLA portfolio. After joining Starboard’s predecessor, WLA, in 1994, Jon coordinated the highly successful Utah condominium conversions, the Denver office portfolio and the Los Angeles/Orange County commercial portfolio. Jon’s entire career has been within the real estate industry. Having experience with an architect, contractor, developer and broker, he supplies insight on the entire development process.

Prior to joining Starboard Realty Group and WLA, he was with the firm now known as CBRE, where he advised corporate clients on sales and leasing of commercial properties. His background also includes a position with Lincoln Property Company where he was involved with the planning, development and management of industrial, R&D, retail and office properties.

Jon has a Bachelor of Science degree in Business Administration  with an emphasis in finance from the University of Southern California.

DAN N. VITTONE

Principal

Dan is responsible for sourcing new investment opportunities and all pieces of the capital stack. He brings over 20 years of commercial real estate experience to the team at Starboard Realty Partners. Since 1995, he worked as an investment sale broker for several brokerages including the firms now known as CBRE and Cushman & Wakefield, Voit Real Estate Services and Avison Young. He also served in acquisition and development roles with Kilroy Realty Corporation, a publicly traded REIT.

In his capacity as an investment sales brokerage professional, he handled acquisition and disposition assignments of investment properties for financial institutions, pension funds, REIT’s and private investors. During his tenure, Dan was a consistent top producing broker, having completed investment and user sale transactions totaling approximately 45 million square feet with an aggregate value exceeding $4.0 billion.

Dan holds a Bachelor of Arts in economics-business from University of California Los Angeles (UCLA). He previously served on the Board of Directors of United Cerebral Palsy – Orange County, a charitable organization focused on helping children with disabilities reach their full potential, improve the quality of life for their families and foster an attitude of acceptance and inclusion.

Dan lives in Newport Beach with his wife, Karin, and two children, Devin and Damian. He enjoys spending time with his family, traveling, golfing, mountain biking and enjoying good food and wine with friends and family.

HISTORY

January 2014

HISTORY

July 2015

Slide to Scroll

June 2016

2018

Acquired over 1.45 million SF of industrial product in Denver and several small multi-family development projects in San Diego

July 2016

2017

Acquired a retail center in Newport Beach with plans for mixed-use redevelopment, several multi-family projects in San Diego and Salt Lake City, and several industrial projects in Denver, Dallas and SoCal. Sale

Read More →

July 2016

2016

Acquired several small apartment projects in the San Diego area, together with several multi-tenant industrial parks in Phoenix and Dallas

July 2016

2015

Acquisitions included a commercial asset in Denver, four industrial parks in Seattle, Denver and Phoenix, and a group of apartment buildings in the Northpark and Ocean Beach areas of San Diego

July 2016

2014

Expansion continued in Salt Lake City with the purchase of a portfolio of apartment buildings totaling 438 units, three industrial parks in Phoenix and one office project in Southern California

July 2016

2013

Five new Business parks were purchased in Utah, Colorado and Arizona. The Portfolio currently includes 2,040 apartment/condominiums units and 1,420,000 square feet of office/industrial over five states.

July 2016

2012

Our focal point continues to be small multi-tenant industrial/office space adding over 270,000 square feet to the portfolio along with 218 apartment units. Sales exceeded $61,000,000.

July 2016

2011

With the economy showing signs of improvement, our portfolio increased by 68 multifamily units and continued expansion in the multi-tenant industrial/office market by adding 71,500 square feet of space.

July 2016

2010

As difficult times continued, we were able to complete two sales in 2010, no new properties were added to the portfolio.

July 2016

2009

Despite a difficult year for commercial real estate, 315 apartment units were added to our portfolio, including 95 fully upgraded condominium units purchased from lenders in short sales.

July 2016

2008

Focus on multifamily purchases added over 600 units in Salt Lake, Denver, Las Vegas and Southern California.  Continued expansion in multi-tenant industrial/office market in the Salt Lake area.

July 2016

2007

Portfolio includes over 3,000 apartment units and 860,000 square feet of small office or industrial space over eight states.

July 2016

2006

Further expansion into Salt Lake City with office and apartment acquisitions.

July 2016

2005

1,489 apartment units added to our portfolio in markets including Phoenix, San Diego, Corpus Christi, and Salt Lake City. Property sales exceeded $95,000,000.

July 2016

2004

Continued expansion into Nevada and Oklahoma, adding seven properties totaling $119,000,000. Sixteen portfolio properties sold distributing in excess of $73,000,000 to investors.

July 2016

2003

Multifamily focus on purchases in Las Vegas and Oklahoma. Nine properties sold distributing $35,000,000 to investors.

July 2016

2002

Total transactions exceed $126,000,000 with addition of 11 properties.

July 2016

2001

Purchase and sale transactions exceed $70,000,000. Begin acquisition of apartments in Nevada. Portfolio value approaches $200,000,000.

July 2016

2000

Completes a record year of acquisitions and sales, purchasing nine properties for over $43,000,000.

July 2016

1998

Identifies Sacramento, California, as an emerging market and purchased 1300 units in 13 apartment communities. Also pursued over 1 million square feet of commercial properties in “lagging recovery” areas of

Read More →

July 2016

1997

Focus shifts to California with purchase of 10 apartment communities totaling over 700 units in north San Diego County and inland to the City of Hemet, California. Portfolio value nears $60,000,000.

July 2016

1994

Investment market expanded to include purchase of 10 commercial office buildings totaling over 750,000 square feet in Denver, Colorado.

July 2016

1989

Initial formation of investment partnerships, eventually acquiring 15 existing properties in Salt Lake City, Utah, and converting 504 out of 954 apartments to condominiums.

NEWS

News Release 3

July 14th, 2016|

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News Release 2

July 14th, 2016|

Um id maio est venis denis niam asitate consequunt volupta eperor asped ulpa corecta voluptat quidion seristr umquam ipictes nihic tem oresto endi odis aribus. Um id maio est venis [...]

News Release 1

July 14th, 2016|

Um id maio est venis denis niam asitate consequunt volupta eperor asped ulpa corecta voluptat quidion seristr umquam ipictes nihic tem oresto endi odis aribus. Um id maio est venis [...]

In The News 3

July 14th, 2016|

Um id maio est venis denis niam asitate consequunt volupta eperor asped ulpa corecta voluptat quidion seristr umquam ipictes nihic tem oresto endi odis aribus. Um id maio est venis [...]

In The News 2

July 14th, 2016|

Um id maio est venis denis niam asitate consequunt volupta eperor asped ulpa corecta voluptat quidion seristr umquam ipictes nihic tem oresto endi odis aribus. Um id maio est venis [...]

In The News 1

July 14th, 2016|

Um id maio est venis denis niam asitate consequunt volupta eperor asped ulpa corecta voluptat quidion seristr umquam ipictes nihic tem oresto endi odis aribus. Um id maio est venis [...]

Investor Bulletin Board

August 16th, 2016|

Um id maio est venis denis niam asitate consequunt volupta eperor asped ulpa corecta voluptat quidion seristr umquam ipictes nihic tem oresto endi odis aribus. Um id maio est venis [...]

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CONTACT

   (949) 851-2020
   (949) 851-5854
   info@starboardrp.com