Sunday, September 15, 2019

JLL arranges preferred equity financing for Utah development south of downtown Salt Lake City


Rendering of Upper West, a planned207-unit, Class-A,
 transit-oriented, multi-housing property in West Jordan, UT

SALT LAKE CITY, UT JLL announced it has arranged preferred equity financing for the development of Upper West, a 207-unit, Class-A, transit-oriented, multi-housing property to be constructed adjacent to the TRAX light rail stop in the suburban Salt Lake City community of West Jordan, Utah.

JLL worked on behalf of the borrower, Salt Lake City-based Boulder Ventures Development, Inc., to place the non-recourse financing with a private capital fund. The total project cost is $52 million.

Mike White
Upper West will comprise four levels of residential space housing a mix of studio, one- and two-bedroom units over a parking structure. 

Planned community features include an outdoor pool, cabanas, spa, clubroom, outdoor bar and kitchen, fire pit and vegetable garden. 

Situated on 2.43 acres at 3283 West Jordan, the development will be part of the Jordan Valley master development, which includes 1,396 multi-housing units, 83,200 square feet of office space and nearly 35,000 square feet of retail and restaurant space. 

The property site is adjacent to the Jordan Valley Station TRAX stop and about 13 miles south of downtown Salt Lake City. 

Additionally, the site is surrounded by the Jordan Valley Medical Center, Salt Lake Community College Campus and the Jordan Valley Station high-density TOD development that will contain residential, retail, restaurant and commercial space.

Jordan Valley Medical Center
The JLL Capital Markets team representing the borrower was led by Managing Director Mike White in JLL’s Denver office.

“The unbeatable TOD proximity, experienced sponsor and excellent product design for this market were balanced by a 30-day closing time frame involving coordination of four separate stakeholders,” White said. 

“This deal required such an extraordinary effort by everybody that one attorney was actually hospitalized mid-stream. Few capital sources could have pulled this off, and we were extremely pleased to have identified capital for our client that delivered as promised in just 30 days from first-look to funding!”

 For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Contact:

 Kimberly Steele
 JLL Digital Content/PR Specialist 
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com

Marcus & Millichap Arranges $275,000 Sale of Dollar General Property in Steeleville, IL




Dollar General
700 East Broadway,
Steeleville, IL
STEELEVILLE, IL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dollar General, an 8,250-square foot net-leased property located in Steeleville, Ill., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $275,000.


Daniel Hurd and Edward Kemp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 
 
Daniel Hurd 
The buyer, a private investor, was also secured and represented by the two brokers.  Broker Steven Weinstock, assisted in closing this transaction.


Dollar General is located at 700 East Broadway in Steeleville, Ill.  The site was built to suit for Dollar General in 1998 and consists of 8,250 rentable square feet.  

Dollar General has operated at this site for 20+ years and serves as the main retailer in town. 

Contact:

 Chris Travis
Sales Manager, Tampa
(813) 387-4700

NAI Realvest Closes $750,000 Sale of Office Condo in Maitland, FL for Shared offices of Law Firm and Real Estate Company


Jeff Bloom
ORLANDO, FL - NAI Realvest recently brokered the $750,000 sale of a 4,200 square foot professional office suite in the Keewin Lexington Office Park at 175 Lookout Place in Maitland. 

Jeff Bloom CCIM, vice president brokered the transaction on behalf of the local seller, Maitland Law Centre, Inc.  The buyer 175 Lookout Place LLC, was represented by Amy Calandrino of Beyond Commercial.

  The new owner-occupants who will relocate from Winter Park are Amy Calandrino principal of Beyond Commercial and Phillip K. Calandrino, Esq. specializing in employment, business and estate planning law. 

   The firms will open in their new location once interior renovations to contain the two businesses are completed by Nov. 1  

Amy Calandrino
About NAI Realvest

NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

Phillip K. Calandrino

 NAI Global is an international commercial real estate network with over 400 offices spanning the globe. 

 Since 1978, clients have built businesses on the power of NAI Global’s expanding network.  

Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. 

To learn more, visit www.nairealvest.com.

CONTACTS:

Jeff Bloom, CCIM,
 Vice President,
 NAI Realvest
407-875-9989 

Patrick Mahoney,
 President / CEO,
NAI Realvest,
407-875-9989

Beth Payan, Larry Vershel Communications,
407-644-4142

Homebuilder Taylor Morrison Awards Blackton 4th Multi Year, Multi Million Dollar Flooring Contract, Budgets 300 Homes Per Year

                          Michael (Micky) Blackton

ORLANDO, FL and KISSIMMEE, FL -- Blackton, Inc., ranked as one of Central Florida’s largest and most active distributors of materials to homebuilders, has been awarded a contract to provide flooring at Solivita a 55+ community on Village Drive in Kissimmee. 



The award represents the 4th one this year Taylor Morrison awarded Blackton to supply flooring for new home construction at single-family home communities in Osceola County .

Michael “Micky” Blackton, chairman and CEO of Blackton Inc., said the family-owned firm will provide flooring for over 300 homes at Solivita within the next year with a value of approximately $3.5 million and they have enough land for this product for at least another 20 years.

Work will begin on the new model homes at Solivita when all permits are received by the end of the year.

 Blackton is already underway on the flooring for the three other Taylor Morrison communities in Osceola County , including Hickory Grove in St. Cloud , Reedy Reserve and Stepping Stone in Kissimmee .

Blackton, Inc. a family owned business located on Alden Road near downtown Orlando has been supplying the home building industry from Jacksonville to Tampa for over 60 years.






CONTACTS

Michael “Micky” Blackton
 Chairman, Blackton, Inc.
407-898-2661 

Beth Payan, Larry Vershel Communications
407-644-4142
 

Carolina Construction Firm and Mobile Food Truck Builder Ink New Multi Year Leases at Poinciana CommerCenter East in Kissimmee, FL



 
Kevin O’Connor
Orlando, FL and Kissimmee, FL -- NAI Realvest closed on two new long term leases at Poinciana CommerCenter East for two growing industries. 

 Both businesses expect to open in the next 60-90 days at the office-warehouse campus on US 17-92/Orange Blossom Trail just east of Poinciana Blvd.   

CRM of the Carolinas, LLC leased 4,950 square feet at 1793-1797 Business Center Lane to better serve clients in central Florida .  The Pawleys Island, S.C.-based company with multiple locations serves HOAs and property managers 24-7 with residential and commercial construction repairs and maintenance.

 CRM’s operations are planned to start at Poinciana in November or December once tenant improvements are complete.

Matt Cichocki
Heat Custom, LLC, a custom manufacturer of food trucks and mobile kitchens will move into a 3,780 square foot unit at 1821 Business Center Lane . 


The company has a West Park, Fla. 
(Broward County) location and plans to open their new Central Florida operation by late October.

NAI Realvest Principals Kevin O’Connor and Matt Cichocki brokered both transactions on behalf of the landlord Hanover Poinciana Commercial East, LLC. 






CONTACTS:

Matt Cichocki or Kevin O’Connor
Principals, NAI Realvest,
407-875-9989 

Patrick Mahoney
 President / CEO, NAI Realvest
 407-875-9989 

Beth Payan, Larry Vershel Communications Inc.
 407-644 4142 or
407-461-3781


JLL closes $103 million sale of 500 Harbour Island in Tampa, FL


500 Harbour Island, Tampa, FL

John E. Jacobs 
TAMPA, FL – JLL announced it has closed the $103.45 million sale of 500 Harbour Island, a 235-unit, luxury high-rise community in Tampa.

JLL marketed the property on behalf of the seller, a joint venture between Forge Capital Partners and Intown/Framework Group, and procured the buyer, Northwestern Mutual. The property was acquired free and clear of existing financing.

500 Harbour Island is located on Harbour Island at the intersection of Knights Run Avenue and Beneficial Drive immediately south of downtown Tampa.

 The island boasts some of Tampa’s most expensive homes and condominiums and has a variety of on-island amenities, including restaurants, coffee shops, boat rentals and Harbour Island Athletic Club. 

Darren Pierce
Completed in 2017, the 21-story property offers a variety of spacious studio, one- and two-bedroom units averaging 1,087 square feet.

 The property offers five-star, hotel-style amenities, including an expansive two-story lobby with concierge; outdoor amenity deck with skyline views, al fresco dining and grilling, lounging areas and bocce court; private dog run with washing station; full-service spa and treatment rooms; heated, infinity-edge pool with waterfall, deck speaker system and cabana area; 

Also: a state-of-the-art fitness center; social spaces throughout the building for gaming, lounging, reading and entertaining; conference room with video conferencing and library area; and catering kitchen.

Matt Mitchell



“Harbour Island is a wonderful place to live and will only get better as downtown Tampa continues to emerge as a premier live-work-play environment,” said John Jacobs of Northwestern Mutual Real Estate. 

“500 Harbour Island offers residents spacious, condominium-quality units with great amenities just a short distance from the excitement of the central business district.”

Northwestern Mutual has engaged ZRS Management, a leading property management company specializing in upscale apartment communities, to oversee 500 Harbour Island.

“With the acquisition of 500 Harbour Island, Northwestern Mutual has purchased a preeminent community in one of Tampa’s most sought-after neighborhoods” said Darren Pierce of ZRS Management. 

Zach Nolan 

“ZRS is honored to expand our relationship with Northwestern Mutual and excited to create the highest caliber living experience for the residents of 500 Harbour Island.”

The JLL Capital Markets team representing the seller was led by Senior Managing Director Matt Mitchell and Senior Directors Zach Nolan and Brett Moss.

“This transaction is another example that the Tampa market is a top-tier market for commercial real estate investment,” Mitchell added. 


Brett Moss.

“The capital markets view Tampa’s growth and fundamentals very favorably, and the continued transformation of downtown Tampa is very appealing to investors.”




For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.


  








Contact:

 Olivia Hennessey, JLL Public Relations Specialist 
Phone: +1 713 852 3403
Email: Olivia.Hennessey@am.jll.com


Saturday, September 14, 2019

Gloria Swanson’s New Jersey Mansion Offers 75% Price Cut to $10 Million

The eight-bedroom, 14-bath home was designed to resemble an Italian villa in the Renaissance Revival style with three-story towers on each end of the building. 
Photo credit: Signature Realty        Source: thegloriacrestestate.com
Gloria Swanson
ENGLEWOOD, NJ -- According to TopTenRealEstateDeals.com,
Joseph P. Kennedy, Sr. was well known for his wealth, business smarts, politics, patriarch of America’s “Royal” family, JFK’s father, and his womanizing.

Joseph P. Kennedy Sr.
It was during his business dealings with the Hollywood film studios that he entered into an affair with film-star Gloria Swanson, for whom he bought this stunning New Jersey mansion, Gloria Crest.

Count Stefan Poniatowski

 Having been placed on the market several times with no takers, it is now back with an almost 75% discount - listed at $9.9 million.

                    Brooke Shields
As the son of an Irish farmer, who immigrated to the United States to escape the famine in Ireland, Kennedy grew up as an Irish-Catholic outsider on the streets of Boston.


Sara Jessica Parker

 He struggled to get a job in finance where he was shunned and picked over in favor of less-skilled Protestants. But make it he did and through his Wall Street stock smarts, buying and flipping Hollywood film studios and impressive real estate collection, Kennedy acquired massive wealth. 
President Franklin Delano Roosevelt

He was a multimillionaire by the age of 40 and by 1938 was the first head of the Securities and Exchange Commission. A good friend of President Franklin Roosevelt, Kennedy was appointed Ambassador to England in 1938. 


Upton Sinclair

It was while he was investing in films and diversifying his investments into Hollywood movie studios that he met silent-screen star Swanson and began a heavily publicized affair with her that lasted for three years. 


Anne Morrow Lindbergh
During that time he bought this New Jersey mansion for her so that he could see her without having to travel to the West Coast.


David Cassidy
Built in 1926 by Count Stefan Poniatowski, heir to the Polish throne and silk manufacturer, the eight-bedroom, fourteen-bath home was designed to resemble an Italian villa in the Renaissance Revival style with three-story towers on each end of the building.

Malcom Forbes
Encompassing 24,000 square feet on five acres of land, the home stood out in the well-to-do community and was often referred to as the White House of Englewood.

Michelle Pais
Totally private and gated, the grounds are surrounded by a 10-foot wall with large expanses of lawn, mature trees and plantings, a lake with waterfall and cabana, an orchard and an infinity pool and spa surrounded by terraces for entertaining.


There is also an eight-car garage and plenty of guest parking. The entry opens to a grand marble foyer with double staircases leading to the next level.


There are multiple living rooms, one with a stone fireplace, formal dining, a large chef’s kitchen with floating island, impressive stained-glass ceiling, dining area and arches that open to the terrace.


The three-room master suite has a sitting area and fireplace, a bath with marble soaking tub and separate shower. Additional amenities include a home theater, private gym, and a home office.


With its prestige and proximity to Manhattan, Englewood has been home to authors Upton Sinclair and Anne Morrow Lindbergh, actor and musician David Cassidy, Forbes publisher Malcom Forbes and actresses Sara Jessica Parker and Brooke Shields.


The listing agent is Michelle Pais of Signature Realty, Westfield, New Jersey.

CONTACT:
Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

JLL announces $15.2 million sale of Ashley Plaza retail center adjacent to Seymour Johnson Air Force Base in Goldsboro, NC


CHARLOTTE, NC  JLL announced it has closed the $15.2 million sale of Ashley Plaza, a 160,356-square-foot super regional retail center in the central North Carolina community of Goldsboro.

JLL marketed the property on behalf of the seller, RCG Ventures LLC. Medalist Diversified REIT Inc. purchased the asset.

Ashley Plaza is 98% occupied and anchored by Hobby Lobby, Planet Fitness, Ashley HomeStore and Harbor Freight Tools. 

The center is also home to several other regional and local tenants, including Shoe Show, Chuck E. Cheese and Smart Repair Center, and was renovated last year to modernize the look and feel of the asset. 


Thomas Kolarczyk
Situated on 15.49 acres at 201 North Berkeley Boulevard, Ashley Plaza is positioned in the main retail corridor in Goldsboro, which is about 54 miles east of Raleigh. 

It’s location at the corner of North Berkeley Boulevard and East Ash Street exposes the center to more than 34,000 vehicles per day, and the center has regional and limited retail competition within a 30-minute drive. 

Ashley Plaza is adjacent to Seymour Johnson Air Force Base, which is home to approximately 12,000 active-duty military members, their families and other supporting personnel.

The JLL Retail Capital Markets team representing the seller was led by Director Thomas Kolarczyk and Senior Managing Director Jim Hamilton.

Jim Hamilton.
“Ashley Plaza is a great example of retail reinvented in today’s evolving retail landscape,” Kolarczyk said. 

“RCG Ventures did a tremendous job repositioning this center with in-demand retailers on long-term leases. Medalist Diversified REIT Inc. will benefit from stable cash flow and adds an excellent asset to their growing portfolio.”

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

  




Contact:

 Kimberly Steele
 JLL Digital Content/PR Specialist
Phone: +1 713 852 3420
Email: kimberly.steele@am.jll.com


Friday, September 13, 2019

Fortune 500 Executives, Worldwide Disruptors to Converge in Miami for the Future of Logistics Tech Summit 2019


Phillip Yeager 
MIAMI, FL,  Sept. 13, 2019 – From Silicon Valley to Kuwait, the best and brightest in the logistics and technology world will share insights on a wide range of topics including digitalization of the supply chain, warehousing automation and last mile, and judge a global pitch competition featuring 10 cutting-edge startups during the Future of Logistics Tech Summit 2019 on Tuesday, October 22 at the Miracle Theater in Coral Gables, Fla.

Hosted by LAB Miami Ventures, the second annual summit is expected to attract a curated audience of 500 executives from top logistics firms, freight companies, investors, technology innovators and aspiring disruptors.

Thomas (Tigre) Wenrich.
The one-of-a-kind event features spirited panel discussions about technological advances that are radically changing the industry landscape, the startup pitch competition, a keynote address from Hub Group CEO Phillip Yeager and unparalleled networking opportunities.

Last year’s inaugural summit resulted in attendees securing investment rounds, partnerships and pilot programs. Applications for the startup pitch competition close on Sept. 16.

“With Miami’s unique positioning as a global freight hub and the world’s gateway to Latin American and the Caribbean, the summit fills a void to bring industry leaders together and expose them to the talented members of our region’s startup community,” said LAB Miami Ventures Managing Partner Tigre Wenrich. “We are excited to build off the momentum generated from our 2018 debut with an even bigger program this year.”

Henadi Al-Saleh
Confirmed speakers include:

·         Henadi Al Saleh, Chairperson at $4 billion logistics company Agility and one of Forbes Magazine’s “Most Powerful Businesswomen in the Middle East”
·         Patrick Coughlin, COO of Miami-based transportation and supply chain titans Ryder System, Inc.
·         Greer Carper, Investing Principal of Boeing
·         Tom Fiorita, Founder and CEO at Point Pickup Technologies
·         Todd Lewis, Venture Partner at UPS Ventures
·         Paul Mullins, Chief Revenue Officer at Xeneta
·         Javier Villamizar, Partner of Joint Ventures & Portfolio Synergies, SoftBank

Patrick Couglin
“I believe delivery will change the world in many ways, from less waste and fuel consumption, efficiency for consumers, predictability for drivers and better margins for enterprise,” said Fiorita.

 “I want to be part of the change and make a difference. With that in mind, I would not miss a chance to participate in the Future of Logistics Tech Summit.”

Mullins cited how the summit showcases “the power of collaboration to provide market transparency” and provides a forum “where different perspectives from the industry can debate about the future, be open about our challenges and try to find solutions” as key factors for his involvement.

For more information about the summit, visit www.futureoflogistics.miami.

About LAB Miami Ventures:

LAB Miami Ventures ideates new tech businesses and then develops them from scratch in partnership with highly motivated entrepreneurs. Our team provides marketing, finance and product services, and through our events we bridge a gap that connects leading startups with established corporations and investors.

To learn more, visit https://labventures.co/

CONTACT:

Eric Kalis
Vice President, BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road