written by
Emily Bane

7 Tips for the Consumer During the COVID-19 Pandemic

These are uncertain times. Across California, New York, Washington, Illinois and an increasing number of other states, small businesses are being forced to close their doors. Small and local businesses typically rely on month-to-month revenue to sustain business, and unlike major retailers they generally don’t have high cash reserves.

This can be devastating to small businesses, especially those that depend on in-person foot traffic for their revenue. We can be a part of the solution, so we’re highlighting here tips for the consumer to help those small and local businesses stay afloat.

1. Order Takeout or Delivery 

Eat local. Several businesses have adjusted their hours, some of which are even increasing their availability. Remember that time you said all you wanted to do was get takeout and sit on the couch watching Netflix but you live in sunny Southern California? Now’s your chance to enjoy that tasty BBQ, fancy Indian curry, artisan pizza — without all the guilt of staying inside.

Smokin’ J’s BBQ is now open 6 days a week! Order online, full menu available for takeout and delivery.

2. Buy Gift Cards

Buy now, use later. While you can’t visit every local business, you’re going to want to later. When you buy a gift card from your favorite shop, those businesses can record some revenue now, and you have something to look forward to later on.

Purchase a gift card for Ocean Retreat Nail Spa using this link or call 858-668-7278.

3. Shop Local Online

Many businesses have online stores or are transitioning to do so. Before opting for that 2-Day Prime shipping, consider shopping from a local retailer because when you buy from someone in your community, you’re helping to keep people in their jobs.

Shop the latest in women’s fashion at Girl’s Fashionably Late!

4. Shout-Out Your Favorite Local Businesses on Social Media

At the moment, people are on their phones more than usual. Now is a great time to give local businesses a shoutout on social media — like that dessert Instagram that you drool over in your spare time, or that cool plant shop you always screenshot for inspiration later. Sharing is caring.

Follow @natsweets on Instagram to see all their amazing desserts. Now offering DIY cookie kits.

5. Reschedule Instead of Cancelling Appointments

Remember that haircut you had scheduled that you just kept putting off and waited to book, and now you’re quarantined for the foreseeable future? Well, you’re still going to need that haircut later. Instead of cancelling those spa and other appointments, simply reschedule.

Schedule your future appointment at Hair’s the Place by calling 760-727-1816.

6. Participate in Your Favorite Workout Classes Online, Donation Basis

In these uncertain times, it’s important to keep healthy. Did you know that some of your go-to workout studios are streaming classes online? Some of which provide ways to donate to that instructor or studio through a pay link. Namaste. 

Follow @PowayPilatesFitness on Facebook, going live Monday, Wednesday, Friday!

7. Practice Patience

Many businesses are working overtime with reduced capacity. With this in mind, practice patience when experiencing longer than usual wait times. Remember that your favorite café is working hard to stay open and serve your local community.

All Barons Market stores are open exclusively for customers 65 and up from 9:00 to 10:00 AM daily. Regular store hours are now 10:00 AM to 8:00 PM.

Emily Bane is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. Contact Emily at 619-819-8725 or [email protected]

written by
Mark Hoekstra & Rocco Cortese

Message from Intersection Leadership on COVID-19

To our valued friends and colleagues,

In the wake of the COVID-19 pandemic, our hearts and thoughts go out to the individuals and businesses who have been infected or impacted. We are hopeful that you, your family, friends and colleagues are taking the necessary precautions.

Intersection has decided to have all employees work voluntarily remote for the remainder of March. We will not be holding any in-person meetings in the office but will continue conducting video conference calls for the foreseeable future. As a company, it is important that we take the necessary measures for our employees and clients’ safety and well-being.

In the coming days, Intersection team members will be reaching out to investors, tenants, and partners with more information on mitigating risk during this time. All divisions of the company will remain fully functional, with our investment managers, brokers, property managers, and support staff accessible during normal business hours.

We are committed to supporting our investors, clients and tenants during this unprecedented time and we thank you for your business. Over the next few weeks we will be providing regular updates to all of you as additional information becomes available. In the meantime, please exercise all the precautionary measures recommended by the CDC and stay healthy.

 

Sincerely,

Mark Hoekstra and Rocco Cortese

written by
Emily Bane

Property’s Thoughtful Design Makes it a Lifestyle Destination

SAN DIEGO, Calif. – The San Diego Business Journal honored commercial real estate management and investment advisory firm Intersection with the annual Best Retail Project of the Year Award Feb. 26 during a ceremony at Bali Hai Restaurant on Shelter Island.  The presentation was made during the Journal’s Commercial Real Estate Awards recognizing Intersection’s efforts in creating a destination retail site at Old Poway Village in Poway, Calif.

“We are very excited about earning the award,” said Intersection Managing Director Mark Hoekstra, who grew up in Poway across from the property.  “This is a very unique project.  We knew that we could create an experiential retail center unlike anything Poway has ever seen.  Our tenants are local and provide the community with an internet-resistant environment.  We made Old Poway Village fun.  A place where people want to be, where they can have a good experience and enjoy the Old Poway Village environment with the entire community.”

The 35,191 square foot retail center boasts an enticing and complimentary mix of businesses offering a variety of goods and services including food, wine, exercise, and a tap room with 20 rotating San Diego craft beers.  Hoekstra highlighted that all of the businesses are local to the Poway community, with some coming from Poway’s Saturday Farmers Market and opening a brick-and-mortar location for the very first time.

While some of the businesses might be new to working out of a commercial retail space, many are already settling in and making a name for themselves like Smokin’ J’s BBQ, which was featured in the San Diego Eater and Pacific Magazine.

Other businesses at Old Poway Village, which is now fully leased, include The Hop Stop, Mission Cellars, Poway Pilates, SD Music Academy, Poway Chamber of Commerce, Sam’s Old Poway Barber Shop, Filhart Beef, and FITT University, among others.

“By bringing a variety of artisan and specialty use businesses together, we created a sense of place that local residents and regional customers will embrace and seek out,” said Intersection Senior Director Dan McCarthy, who’s brokerage team marketed and leased the project.  “This increase in foot traffic helps all of the tenants and adds to the image of the center.”

McCarthy and his team put a lot of thoughtful work into orchestrating the right mix of businesses at Old Poway Village.  After purchasing the property for $6.9 million in May of 2017, Intersection canvassed visitors and residents across the community to identify what Poway was missing, in addition to meeting with the mayor’s office to get an idea for what the city saw as complimenting its future vision.

“Poway already has a lot to offer San Diegan’s and visitors who are looking to get outdoors,” said Poway Mayor Steven Vaus.  “Old Poway Village has evolved into a destination where people can come together to relax and have a good time.  It also fuels the city’s economy helping local Poway businesses thrive.  Old Poway Village is central to our vision to enrich our community and quality of life through an exceptional blend of recreation, arts, leisure, and cultural programs, in addition to providing parks, facilities and open space for all.”

Collaborating with the community was very important according to Hoekstra.  That collaboration led to Intersection investing approximately $1.2 million to add 6,000 rentable square feet to the property and enhancing features that would make it attractive to customers.    

Hoekstra said, “We really tried to create this destination in the community that is tied into activities that are happening in Poway.”

Old Poway Village is adjacent to the Poway-Midland Railroad, Veterans Park, and Old Poway Park where an average of 70 weddings are hosted each year.

“I think that when visions align, good things happen,” said McCarthy, who is a resident of Poway.  “The city had a desire and we had a vision with a plan.  Combined we were able to make good things happen.”

Emily Bane is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. Contact Emily at 619-819-8725 or [email protected]

written by
Dan Leon

The Second Acquisition in a Portfolio Delivering Strong Cash Flow for Investors

CARLSBAD, Calif. – San Diego based commercial real estate management and investment advisory firm Intersection announced the closing of escrow on La Place Court in Carlsbad on Feb. 12, 2020.  The office property is the second procured by the company for the Intersection Diversified Value Fund (IDVF), which provides investors with a portfolio of properties that have in-place cash flow and high potential for appreciation.

La Place Court offers 81,965 square feet of office space on a 4.58-acre campus with two office buildings.  Historically, the property has maintained a high occupancy, and as of closing, 90% of the property is leased.

Intersection acquired La Place Court from Swift Real Estate Partners, represented by Louay Alsadek, for approximately $15.8 million.  Financing was completed by CBRE Capital Markets team Bill Chiles and Scott Peterson.

La Place Court is the second property in the IDVF, which is targeted to acquire $60 million in properties with approximately $25 million in equity according to Intersection Director of Acquisitions Dan Leon.  The fund’s other property is Oberlin Court in Sorrento Mesa, which was acquired in May 2019.

“We feel that the risk adjusted returns for this product type are solid, especially given the continued strength of the Carlsbad submarket as indicated by increasing tenant demand from the technology sector, improving workforce talent, and strong demographics,” Leon said.

With this acquisition, Intersection officially plants their flag in Carlsbad, with plans to be a tenant of La Place Court providing on site brokerage and management services.

“Having ownership on site enhances the value of the property for investors,” said Intersection Senior Director Henry Zahner, who represented Intersection in the sale.

“By having a presence at La Place Court, we’ll be in a unique position to familiarize ourselves with both the property and its tenants,” said Zahner.  “Furthermore, we will gain valuable insights in leasing remaining space.”

Leon added, “Being on site is all about the delivery of best-in-class service.  It means being there for our tenants.” 

Quality of service is a hallmark for Intersection, which is led by Rocco Cortese and Mark Hoekstra.  With more than 60 years of experience in the real estate industry, Cortese and Hoekstra have built a customer-focused team that is providing investment, brokerage, and management Concierge services in the commercial real estate industry.

With this focus in mind, Intersection plans to modernize the property by integrating a seamless connectivity between indoor and outdoor working environments.  Leon says this will create an innovative atmosphere at La Place Court, attracting a cohesive tenant mix that lays the groundwork for collaborative opportunities among tenants.

La Place Court promises to be a truly unique work setting that already offers tenants convenience and high-end amenities.  Located in the prestigious Carlsbad Research Center, the facility boasts exceptional access to Interstate 5 and Highway 78.  With the McClellan-Palomar Airport less than one mile away and being centrally located between San Diego and Orange County, the property provides an ideal hub for doing business in Southern California.

“By acquiring a high-end asset at below replacement cost, we’re providing investors with a portfolio that enhances short and long-term appreciation,” Leon said.

Opportunities to invest with Intersection will remain through 2020 as the team continues to secure properties and raise capital for the IDVF. Inquiries about the fund or investing can be sent via email to [email protected]

Dan Leon is the Director of Acquisitions, managing the performance of the funds and investments sponsored by Intersection. Contact Dan at 619-541-6070 or [email protected]

written by
Emily Bane

Real estate veteran brings more than 45 years of experience to Intersection’s brokerage division, providing expertise from San Diego to Orange County to enhance the services of the expanding commercial real estate company.

SAN DIEGO — Intersection, the downtown San Diego commercial real estate (CRE) firm specializing in brokerage, investment management, and real estate services names Jay Arnett as its latest Senior Director. Arnett spent the last 45 years building his relationships and portfolio at CRE firms in San Diego and Orange counties. Beginning his career in the industrial and office sectors, he grew his practice as a generalist, completing transactions from Oceanside to Chula Vista.

Arnett joins Intersection’s rapidly growing brokerage division, specializing in commercial brokerage tenant representation and investment sales. His extensive market knowledge enables him to identify sound sales and leasing opportunities that are both value-enhancing and strategic investments. As an active member of the Society of Industrial and Office Realtors (SIOR), Arnett is certified with the prestigious SIOR Designation representing the highest level of knowledge and ethics in the industry.

“Jay’s highly personalized service and informed strategic expertise will be invaluable as we continue to grow our brokerage division,” said Mark Hoekstra, Managing Director at Intersection. “As one of the most highly respected brokers in San Diego, his experience, leadership and integrity adds to the depth of the Intersection team.”

Over his 45-year career span, Arnett has completed in excess of 15 million square feet in office, industrial, and flex space transactions, resulting in over $1.5 billion in market value.

Arnett attributes his success to listening to clients and building tailored solutions that fit their needs. “The flexibility of a nimble, San Diego-owned company means that clients will benefit from local perspective and expertise that results in a more personalized experience overall,” said Arnett.

“I’m thrilled with the opportunity to have my brokerage career back in downtown at Intersection. There is immense opportunity at the company to expand both in San Diego, as well as into other submarkets,” Arnett said. “I’m looking forward to helping grow the brokerage division and assume a possible management position down the line.”

Emily Bane is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. Contact Emily at 619-819-8725 or [email protected]

written by
Emily Bane

Orquid Schon joined Intersection a little over a year ago. In a short time, she has represented what it means to be “driven by integrity”, operating with incredible ethics and trustworthiness. The San Diego Business Journal recognizes Schon for her talents and execution in accounting at Intersection.

Intersection is proud to announce that Orquid Schon was selected by San Diego Business Journal as one of the Most Influential Women in Accounting.

As Controller, Schon oversees the financials of the company in its entirety, manages the accounting department, and supports three divisions. She leads by example, with a results driven attitude. Schon has helped implement various software, improve labor efficiency ratios, and support the onboarding of new personnel in both San Diego and Salt Lake City.

In recent months she was promoted to Controller from Senior Accountant. Whether she is supporting client relations, managing a portfolio of properties, or training new employees, she is passionate about her work and dedicated to her company.

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