written by
Natalie Baylon

Mercado Rancho Bernardo Named First Retail Center to Earn the Prestigious TOBY® Award

Intersection is excited to announce that The Mercado in Rancho Bernardo has earned a historic achievement in commercial real estate as the first retail center to be named The Outstanding Building of the Year (TOBY®) Award in San Diego, by the Building Owners Management Association (BOMA). This accolade, traditionally bestowed upon office buildings, is a testament to our commitment to excellence in property management and operations.

The TOBY Award represents the pinnacle of recognition within the commercial real estate industry, honoring exemplary practices in building management across specific categories of building types or sizes. To even qualify for consideration, a property must first earn a BOMA 360 designation, triumph in local and regional competitions, and eventually emerge victorious at the regional level.

At The Mercado, our journey to this groundbreaking achievement has been marked by vison, innovation, and relentless pursuit of excellence. Over the years, Intersection has meticulously curated an international tenant mix that harmonizes to create an unparalleled experiential retail center. Our partnership with Intersection Facility Services has ensured seamless tenant improvements and project maintenance, elevating the property to new heights.

Situated in the heart of San Diego’s tech and innovation corridor, Rancho Bernardo serves as the backdrop for The Mercado’s success. The area boasts an impressive roster of major companies, including Amazon, Hewlett-Packard, Northrop Grumman, Sony, and the recent addition of Apple’s sprawling 67.5-acre campus. Conveniently accessible via I-15 with multiple entry points via Rancho Bernardo Road and Bernardo Center Drive, The Mercado stands as a community focal point, drawing in residents, office employees, and visitors alike.  Coupled with a strong residential demographic component and proven retail traffic patterns, project ownership and management saw the potential to raise the shopping experience to a new level.  Capital investment and creative vision have resulted in a unique project that is 100% leased.

What sets The Mercado apart is its commitment to excellence in every facet of its operation. From its very walkable accessibility, well-maintained landscapes, and prominent signage to the recent exterior enhancements accentuating its unique architectural features, every detail has been meticulously crafted to create an inviting and exceptional retail environment.

The judging criteria for the TOBY Award encompass an array of factors, including community impact, tenant and employee relations programs, energy management, accessibility, emergency procedures, personnel training, sustainability and overall excellence. The rigorous inspections conducted by industry experts validate the significance of this achievement.

Winning the TOBY Award underscores our dedication to delivering best-in-class operations and management. It is a testament to the hard work, dedication, and collaborative spirit of everyone involved in making The Mercado an unparalleled success.

We owe this momentous achievement to the vision, expertise, and collaborative efforts of an exceptional team. It’s with immense gratitude that we extend our thanks to:

  • Nicole Schuck and Sean Rafford (Intersection Real Estate Services): Their unwavering commitment to excellence have been the driving force behind The Mercado’s success. Your vision and dedication have steered us toward this historic milestone.

  • Nick Cardoso and Fernando Cruz (Intersection Facility Services): Their relentless efforts in handling tenant improvements and maintenance have been instrumental in elevating The Mercado to its current stature. Your attention to detail and commitment to excellence are truly commendable.

  • Dan McCarthy and Alec Spencer (Intersection Commercial Brokerage): Their expertise in curating a tenant mix that creates an exceptionally experiential retail center has been invaluable. Your insight and dedication have been pivotal in shaping The Mercado into what it is today.

  • Mark Hoekstra (President and Co-founder of Intersection): His guidance, vision, and unwavering support have been the cornerstone of the success at Mercado for nearly three decades.

Each member of this exceptional team has played an integral role in securing this prestigious recognition. Your dedication, passion, and unwavering commitment to excellence have been the driving force behind The Mercado’s triumph.

This recognition only fuels our commitment to continuous improvement and innovation. As we celebrate this milestone, we also look ahead, eager to continue setting new benchmarks in the commercial real estate landscape.

The Mercado in Rancho Bernardo isn’t just a retail center; it’s a testament to the power of vision, collaboration, and unwavering commitment to excellence. Thank you to everyone who has been a part of this incredible journey. Together, we’ve made history.

Join us in celebrating this remarkable achievement and experience the excellence that defines The Mercado.

To learn more about Mercado Shopping Center or the TOBY awards, please reach out to Nicole Schuck @[email protected]

Natalie Baylon is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Natalie at [email protected] 

written by
Natalie Baylon

Intersection Equities and Blue Vista Capital Management Acquire Riverside Industrial Park for $19.5M

Intersection Equities, LLC announces the acquisition of Riverside Business Park, a 122,000 square foot, industrial business park in Jurupa Valley, CA. The asset was purchased for $19.5 million. Barret Woods of Lee & Associates represented the Seller, Transition Properties, L.P., and Stefan Pastor of Stream Realty represented the Buyer, a new joint venture between Intersection Equities, LLC and an affiliate of Blue Vista Capital Management, LLC.

Riverside Business Park is a 122,000 square foot, multi-tenant business park comprised of 30 suites ranging in size from 1,500 to 11,000 square feet. The Property features a total of 30 drive-up doors and is positioned on 8.9 acres of land. The park is located directly along CA State Route 60 and is in close proximity to State Route 91 and Interstate 215.

The purchase of Riverside Business Park aligns with Intersection’s strategy of acquiring well-located industrial assets that offer significant value-add potential in core markets west of Denver.

“We acquired the property at a substantial discount to replacement cost and we will make strategic capital improvements focused upon enhancing the appeal of the project to current and prospective tenants”, said Intersection Senior Director of Acquisitions, Eric DeWees. “This is our fourth industrial acquisition and we’re excited to be doing it with a new partner in Blue Vista.”

Anton Myskiw from Intersection added, “This is a rare investment opportunity in a market we have been hoping to break into for some time. We are eager to begin executing our business plan and create an exceptional industrial asset on behalf of our new partnership.”

 
 

To learn more about this deal please reach out to Eric DeWees at [email protected] or Anton Myskiw at [email protected]

Natalie Baylon is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Natalie at [email protected] 

written by
Natalie Baylon

Something’s Buzzing at The Mercado Rancho Bernardo

As we continue to see new growth and development in San Diego a new trend is taking flight—urban beekeeping. Awareness around the importance of pollinators is growing and more and more commercial real estate owners and managers are embracing hive hosting. Beyond just honey production, urban beekeeping offers a multitude of benefits that contribute to a healthier environment and a sweeter urban landscape.

  1. Supporting Local Food Production: With the decline in honeybee populations globally, urban beekeeping helps fill the pollination gap and ensures the success of local food production. By maintaining beehives in urban areas, beekeepers provide nearby gardens and farms with a reliable source of pollinators, ultimately contributing to increased crop yields and a more sustainable food system. As a result, urban beekeepers actively participate in the movement towards locally sourced, fresh produce that benefits both consumers and the environment.

  2. Environmental Guardians: Bees are environmental superheroes, and urban beekeepers act as guardians of their hives. By practicing responsible beekeeping methods, such as providing ample food sources and creating safe habitats, urban beekeepers promote biodiversity and help restore natural ecosystems within urban environments. Bees also contribute to the health and vitality of nearby green spaces by pollinating trees, which improves air quality and enhances the overall aesthetic appeal of the city.

  3. Education and Awareness: Intersection partnered with Alvéole to install and maintain our rooftop hive because of the education and activities they offer to tenants and the community. They provide an opportunity to learn about the intricacies of the hive, the social structure of bees, and the process of honey production. By engaging with urban beekeeping with Alvéole, we’ve become more connected to our tenants and have gained a deeper understanding of the delicate balance between humans and pollinators.

  4. Supporting Local Food Production: With the decline in honeybee populations globally, urban beekeeping helps fill the pollination gap and ensures the success of local food production. By maintaining beehives in urban areas, beekeepers provide nearby gardens and farms with a reliable source of pollinators, ultimately contributing to increased crop yields and a more sustainable food system. As a result, urban beekeepers actively participate in the movement towards locally sourced, fresh produce that benefits both consumers and the environment.

Urban beekeeping is a win-win endeavor. By supporting the bee population at and around The Mercado Rancho Bernardo, we promote the growth of thriving urban ecosystems, foster local food production, raise environmental awareness, and enjoy the delectable rewards of honey. Together, we can create a greener, more sustainable future—one hive at a time.

To learn more about our partnership with Alvéole, please contact Nicole Schuck at [email protected].

Natalie Baylon is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Natalie at [email protected] 

written by
Natalie Baylon

Intersection Equities Completes Sale of Arville Industrial Park Near the Las Vegas Strip for $8.4M

Intersection Equities is pleased to announce the sale of 4375 and 4355 W Reno Avenue, a 31,000-square-foot, two building industrial park in Las Vegas, Nevada. The asset sold for $8,400,000 ($269 per square foot). Erik Sexton and Camila Rosales of NAI Vegas represented the seller, Intersection. The undisclosed buyer was represented by Brian Riffel of Colliers.

The property was acquired off-market by Intersection[1] in October 2021 as part of its value-add industrial investment acquisition strategy, headlined by near-term tenant rollover and below-market rents. In 14 months, Intersection completed a full exterior renovation that included exterior paint, a new parking lot and a new signage program. As a result of the implementation of exterior improvements and an aggressive leasing program led by local leasing team Erik Sexton and Camila Rosales at NAI Vegas, Intersection increased NOI by 68% during its first year of ownership. Once stabilized, the property was placed on the market and sold to a private investor looking for long term cash flow and appreciation.

4355 and 4375 W. Reno Avenue is situated in the southwest Las Vegas Submarket, less than two miles from the Las Vegas Strip, I-15, Allegiant Stadium and T-Mobile Arena.

Prior to Intersection’s acquisition of the property, the average rent at the Arville Business Center was $1.03 gross per month/sf, well below-market rents. Through the implementation of strategic property improvements, 77% of the tenant base was raised to an average rental rate to $1.32 NNN per month/sf within twelve months. The asset previously maintained an average of 100% occupancy over the past 5 years (according to CoStar) and retained several legacy tenants, ranging from general automotive services, custom apparel printing, and metal refining services.

“We immediately saw opportunity in this asset when it was brought to our attention by our broker. The market had seen significant leasing momentum with new construction in the area and the project itself had many value-add opportunities that allowed us to leverage our vertically integrated platform and execute on a plan that delivered triple-digit deal level returns,” said Anton Myskiw, Associate with Intersection. Erik Sexton, leasing broker on the project from NAI Vegas added, “It has been a pleasure working with the team at Intersection. They moved quickly on the property improvements that helped us drive a leasing effort that ultimately resulted in a win for both Seller and Buyer.”

[1] RenoAvenue, LLC, Intersection Equities, LLC

To learn more about this deal please reach out to Anton Myskiw at [email protected] or Eric DeWees at [email protected].

Natalie Baylon is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Natalie at [email protected] 

written by
Natalie Baylon

President and Co-Founder, Mark Hoekstra Finds Redemption as He Graduates with a Master’s in Executive Leadership (MSEL)

Intersection President and Co-Founder, Mark Hoekstra, sat down with Bill Brennan of CMR Risk and Insurance Services to discuss how second chances and an opportunity for redemption led him to completing his Master’s Degree.

As Mark and Bill settle in and begin the interview, they both acknowledge their mutual admiration for each other, both personally and in business. “From a professional standpoint it’s been fantastic working with you. You do what we do. We do it in the commercial real estate space you do it in the insurance space. You anticipate and solve problems and it’s been a tremendous relationship and I love working together” says Mark.

“I want to point that out you’ve been a huge help to my career, and I’m really stoked you’re here”, continues Bill ” I think your story is amazing and I wanted to talk a little bit about what you do, what Intersection as a company does, and mainly about your recent master’s degree and how that relates to second chances and maybe redemption. Will you give our audience a brief summary of your background and what Intersection does?”

“Intersection is an investment management company focused on the commercial real estate space. We are headquartered in downtown San Diego, we have offices in Carlsbad, Los Angeles, San Francisco and Salt Lake City, with a team of about 45 staff members and brokers. Our company breaks up into four main divisions:
Our Investment Management Division raises money and buys commercial real estate. That’s done throughout the Western United State, right now we are focused industrial properties in markets like Las Vegas, Arizona, Salt Lake City, Denver and other markets. We’d like to do more in San Diego, we’d like to do more in California, it’s just very difficult with prices right now.
Our next largest division is Real Estate Services – traditional property management, we do for our own properties, and we do it for third parties. Generally, those third parties are clients who are investors of ours. In addition to property management there’s construction management, lease renewals, insurance tower and our insurance program. The next division is our brokerage division we have currently 11 brokers serving San Diego County and they not only work on our properties that we own but they also work on third party clients we help people to buy buildings sell buildings lease buildings we do tenant representation work helping clients to either relocate expand contract whatever and then our newest division is our Intersection Facility Services (ISF). Intersection Facility Services is something that probably much like our brokerage division, originated out not being happy with the services that we were getting from our vendors and our outside service providers and thought that maybe we could create a better mousetrap, maybe we could do this internally and so it started off just as a kind of almost like a little pet project of ours and it quickly blew up into a much more sizable, much more meaningful business ourselves and our clients better. That’s what Intersection does”, explains Mark

“That’s a great answer”, says Bill “You are a full-service real estate firm in a lot of ways which is a unique offering, and you do a good job for your clients I’ve seen it firsthand. I’m going to switch gears; this is the whole reason that I asked to meet with you. I love your story about getting your master’s degree and what drove you to do it um maybe the personal nature of it and just the experience in general kind of running a large firm and being a busy guy and getting it done and candidly excelling. I think yours is a story we can all relate to”.

“First of all, I’d be remiss if i didn’t talk about my business partner Rocco Cortese”, begins Mark. “Rocco and I have always tried to create a culture of lifelong learning within the company but to be honest with you he embraced it I talked about it a lot, but I don’t know that I necessarily embraced it and I didn’t live that belief to the extent that he did. We were talking one day we were having one of our same page meetings and we’re just talking about wanting to encourage a culture of learning within our company and especially within the leadership and so we challenged each other to go out and find something that would not only necessarily benefit the company but benefit us individually as human beings and so I started my process of looking at it. As a University of San Diego (USD) undergrad that was the first place I started, and I stumbled across this Master’s of Science and Executive Leadership. I didn’t have any intention of getting a degree I just knew there were areas where I needed more tools. I looked at the program and it touched on all of the issues that I wanted to grow and develop as a leader within our company, namely finance and accounting and marketing and entrepreneurship. It literally touched on all of these areas and so I said to myslef, ‘all right I’m going to bring Rocco and I’m going to bring my wife Glynna to this introductory breakfast where they talk about the program’. When we get there, I’m listening and I’m asking questions about the time commitment and I’m starting to panic inside, there’s no way I can do this, I can’t run four companies and I can’t do all the things that I’m doing, the community service work and do this. It’s insane. Once we get out of this breakfast and walk outside, Rocco says ‘so what did you think?’, and I said ‘There’s no way. I’m not going to do it’, he asks ‘why not?’ and I say ‘I can’t handle the time commitment’. Both my wife and my Rocco looked at me and they said ‘There’s no way you’re not going to do this. This this was made for you. We will support you all of the way’. Now I start thinking about it and then we’re really going back to a little bit of the personal nature there are three reasons for doing it.
Number one: we have goals we have a strategic plan for where we want to take this company and I recognized that I needed more tools in my toolbox to be able to be the operational leader of this organization and, in some respects, I’ve gone as far as I can go; to do it right and to be an effective leader, I needed more tools in my toolbox so that was number one.
Number two; what is Mark 2.0 going to look like? What am I going to do when I’m 68 years old 10 years from now? Maybe I’m not running the day-to-day operations of a full-service real estate company, maybe I’m going to be a professor at USD maybe I’m going to run for politics and run for an office? I need those tools to be that kind of a leader as well.
Number three is the more personal reason; I graduated from University of San Diego in 1986 and when I say graduated, I use that term very loosely. I had a 2.01 GPA and I remember feeling that day when I’m sitting there on the field, in cap and gown, looking around at my classmates and thinking, I don’t know that I belong here, I don’t know that I did the work, and I certainly didn’t feel like I was educated like everyone else. I think I’m smart, but I’ve always felt that maybe I wasn’t the most educated person in the room and so if I’m going to make this commitment, I’m going to make this commitment to get the tools that I need to run the company and to have the tools polished and continue to use them for whatever Mark 2.0 does. I’m going to excel, I’m going to do fantastic, and my goal was to get out of there with a 4.0. I didn’t quite do with a 3.98 (I got a B+ in one class and I ran out of classes in time to bring up my grade point average), but I really achieved all three of those ‘whys'”.

Bill follows up with “How do you feel now? Did graduating with your Master’s check off a bucket list item or personal goal? Has it closed that chapter for you?”

“It is extremely satisfying for many reasons” answers Mark. “As you know, I live on small horse and cattle ranch up in Valley Center and my friends would make fun of me because I was living on this ranch, and I didn’t even own any tools. One day, I went to Home Depot, and I bought all these tools. I don’t know how to use them, but I have some of the greatest tools and toolbox. I looked at it this education in a similar way. I can’t just go buy the tools, I actually have to learn how to use them and more importantly, I need to be intentional and try to create situations where you can use it again and again. The first most satisfying thing in finishing this program is being intentional in the lives of family and friends and as a leader, being a leader within the community and at work. How do I intentionally create situations where I can go use this new sets of tools? That’s been the most fun, that’s been the most gratifying. It really started with the first class 22 months ago because I started using the tools I was learning immediately and that gave a sense of accomplishment. I don’t know that I’m a whole lot smarter, but I feel more educated and I’m just proud of the effort. Going from barely graduating and having almost been thrown out of the University twice on academic probation, to now having nearly a 4.0 through this program. It was very satisfying. I’m already beginning the process of figuring out what’s next?”

To learn more about the MSEL program or leadership with the organization, please reach out to Mark Hoekstra at [email protected].

Natalie Baylon is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Natalie at [email protected] 

written by
Natalie Baylon

The leadership spotlight is shining strong on Nicole Schuck.

Senior Real Estate Manager Nicole Schuck sat down, last month, with fellow BOMA member Michele Ignacio of A.O. Reed & Co., to discuss Nicole’s leadership within the industry. In addition to being a longtime BOMA San Diego Principal Member, she is also an amazing BOMA leader; having previously served as the Vice Chairperson to the Programs and Seminars Committee, and for the past 5 years has served on the Board as Liaison to Emerging Leaders, Programs and Seminars, and currently the Community Service Committee.

Learn more about her leadership style below:

BOMA San Diego: What sparked your interest in becoming a leader in BOMA?
Nicole: The ability to connect with people from different backgrounds (especially property managers) and have a common connection of working in our industry.

BOMA San Diego: What is your leadership philosophy?
Nicole: Try to walk a mile in a person’s shoes before you give direction or advice to someone. Poor leaders often deliver tone deaf messages to their team if they don’t understand the background of a situation or the challenges the individual is facing. Great leaders understand their team member’s journeys and the obstacles they must face.

BOMA San Diego: What are your top three strengths as a leader?
Nicole: The ability to empathize with people in any given situation. Always having a sense of humor and not to take yourself so seriously. Recognizing opportunity everywhere.

BOMA San Diego: What skills do you use most often in your leadership role in BOMA that are transferable to your career at Intersection?
Nicole: The ability to make connections and find resources through BOMA that help me for budgeting, capital projects, and professional development.

BOMA San Diego: What is the most important challenge that you’ve faced since joining our organization, and how has your experience helped you grow in your career?
Nicole: Have confidence in yourself and put yourself in situations that get you out of your shell. I used to be a very introverted and self-conscious person; every social event used to be a huge point of anxiety for me. Now I look forward to every social event and seek out people I’ve never met. That’s one of my favorite things to do at luncheons now!

BOMA San Diego:What is the one piece of advice you have for emerging professionals who are preparing to be a leader?
Nicole: #1: Life is too short to wear a boring pantsuit. #2: You may not be everyone’s cup of tea, and that’s ok. If you feel like someone is trying to pull you away from your authentic self and shape you into something that only serves their needs, it’s time to look for other opportunities that will embrace you for being yourself.

BOMA San Diego: Who inspires you and why?
Nicole: All the BOMA ladies! There is such a great group of women in our organization that come from all walks of life that encourage and help each other. I don’t think I could have grown in my career without the amazing support of women in our organization that took me under their wing.

Thank you for being an amazing BOMA Leader Nicole!

To learn more about Real Estate Services please reach out to Nicole Schuck at [email protected] or Mark Hoekstra at [email protected].

Natalie Baylon is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Natalie at [email protected] 

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