Sunday, July 21, 2019

JLL announces sale of The Shops Buckhead Atlanta


The Shops Buckhead Atlanta, a 355,646-SF mixed-use project at 3035 Peachtree Road with best-in-class retail 
and creative office space in Atlanta’s Buckhead submarket

Richard Reid
ATLANTA, GA – JLL announces that it has closed the sale of The Shops Buckhead Atlanta, a 355,646-square-foot mixed-use project with best-in-class retail and creative office space in Atlanta’s Buckhead submarket.

JLL marketed the property on behalf of the seller, an institutional joint venture. Jamestown purchased the asset. 

Completed in 2014, The Shops Buckhead Atlanta is leased to a variety of highly notable luxury and upscale shops, restaurants, entertainment and fitness tenants. 

The office space is fully leased to two tenants, Spanx’s global headquarters and No18, the first U.S. co-working location. Additionally, the property includes two prime development sites totaling 2.7 acres. 

Trey Morsbach
Surrounded by Atlanta’s most affluent neighborhoods and Buckhead’s thriving office market, 

The Shops Buckhead Atlanta’s location at 3035 Peachtree Road is strategically positioned north of downtown along Atlanta’s most prestigious address. 

The area has earned a WalkScore ® of 93, which is higher than any other location in Atlanta. 

The property serves the top demographics in the Southeast – 65,000 households earning an average annual household income of approximately $142,000 are within a three-mile radius.

The JLL Capital Markets team representing the seller was led by senior managing directors Richard Reid, Trey Morsbach, Barry Brown and Jim Hamilton and director Mike Allison. Coleman Morris, JLL director of Retail Agency Leasing, provided retail and leasing guidance to the seller.

Barry Brown
“The irreplaceable location, demographic fundamentals and best-in-class construction position 

"The Shops Buckhead Atlanta for long-term success with the ability to attract top local, national and international tenant prospects,” Reid said.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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



About Jamestown

Jamestown was established in 1983 as an investment and management company focused on income-producing real estate in the United States. 

Over the last 35+ years, Jamestown has grown its portfolio of assets in key markets throughout the U.S. and expanded its investment footprint to South America and Europe. 

Jamestown's capabilities include: acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability, and risk management. 

Michael Allison
Jamestown has headquarters in Atlanta, GA and Cologne, Germany, and offices in New York, NY, Boston, MA, San Francisco, CA, Los Angeles, CA, and Bogota, Colombia. 

For more information, please visit www.jamestownlp.com.  

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. 

In doing so, we will build a better tomorrow for our clients, our people and our communities.

Coleman Morris

 JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. 

 Contacts:

Richard ReidJLL Senior Managing Director
Georgia License No: 313257
Phone: +404 832 8460

 Trey Morsbach, JLL Senior Managing Director
Phone: +214 265 0880

 Kimberly Steele
Phone: +713 852-3420
Email: Kimberly.Steele@am.jll.com


Blackton to Provide Flooring Products Worth $600,000 for Maronda’s Coming Soon Community in Davenport, FL



Michael 'Micky' Blackton
Orlando, FL and Davenport , FL --- Blackton Inc., the Orlando firm that ranks as one of Central Florida’s largest distributors of materials to homebuilders has been selected as the supplier of flooring at a new coming soon community Maronda Homes is developing in Davenport. 

 
Michael “Micky” Blackton, chief executive officer, said his firm will provide more than $600,000 worth of flooring materials in the construction of some 87 single-family homes at North Ridge Reserves, Maronda’s newest Davenport community located on North Boulevard West.    

“Maronda, serving new homebuyers throughout a six county region of Central Florida , has been a loyal client for decades,” said Blackton.

Blackton, Inc., a family owned business headquartered on Alden St. near Ivanhoe Row north of downtown Orlando , has been supplying the home building industry from Jacksonville to Tampa for over 65 years.

CONTACTS:

Michael “Micky” Blackton, CEO, Blackton, Inc.
 407-898-2661 Micky@Blacktoninc.com

Larry Vershel or Beth Payan, Larry Vershel Communications
407-644-4142 Lvershelco@aol.com


Saturday, July 20, 2019

JLL announces sale and financing for Charleston, NC-area retail center


North Rivers Towne Center, a 141,463-SF neighborhood shopping center in North Charleston, SC

CHARLOTTE, N.C., July 16, 2019 – JLL announces that it has closed the sale of and arranged acquisition financing for North Rivers Towne Center, a 141,463-square-foot neighborhood shopping center in North Charleston, South Carolina.

Thomas Kolarczyk
JLL marketed the property on behalf of the seller, Retail Properties of America, Inc. LBX Investments purchased the asset. 

Working on behalf of the new owner, JLL placed the five-year floating-rate acquisition loan with MetLife Investment Management (“MetLife”).

Situated on 16.71 acres at 7250 Rivers Avenue, North Rivers Towne Center is in a highly trafficked location visible to about 45,600 vehicles a day. 

The center, which has convenient access to Interstate 26 at exit 85, is positioned along the Rivers Avenue Corridor, which has some of the highest retail sales volumes in South Carolina. 

The center is proximate to the Northwoods Mall, which welcomes more than 12 million annual visitors, and Joint Base Charleston, which employs more than 22,000 people. 

Brad Buchanan
The center’s tenants include Ross Dress for Less, Bed Bath & Beyond, Office Depot, David’s Bridal, Great Clips, Five Guys Burgers & Fries, Firehouse Subs and Cold Stone Creamery along with a Target shadow anchor. 

The JLL Capital Markets team representing the seller was led by directors Thomas Kolarczyk, Brad Buchanan and Mike Allison along with senior managing director Jim Hamilton.

“This was a unique, value-add retail offering in a growth market that received exceptional interest and double-digit offers,” Kolarczyk said. “We are excited for both parties in this transaction and look forward to watching the retail evolution in this submarket.”

Brad Buchanan
The JLL Capital Markets team representing the new owner included managing director Gregg Shapiro and senior director Cory Fowler.

“The competitive terms and flexibility that MetLife was able to arrange for the North Rivers Towne Center financing will enable LBX to execute a significant business plan for this well-positioned shopping center that sits in the heart of one of Charleston’s fastest-growing suburbs,” Shapiro said.

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


About Retail Properties of America, Inc.

Retail Properties of America, Inc. (RPAI) is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. 

Cory Fowler
As of March 31, 2019, the company owned 105 retail operating properties in the United States representing 20.1 million square feet.

 The company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the company is available at www.rpai.com.

About LBX Investments

LBX Investments owns and operates neighborhood and community shopping centers located in the southeastern region of the U.S.

 LBX has developed a robust investment management platform that includes best in class in-house and third-party leasing, property management, asset management, construction, investor relations, finance and accounting capabilities. 

Michael Allison
About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. 

In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. 


Jim Hamilton
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. 


CONTACTS:

Thomas KolarczykJLL Director
Phone: +704 526 2813

 Gregg ShapiroJLL Managing Director
Phone: +404 832 8460

 Brad BuchananJLL Director
S.C. License: #79504
Phone: +404 832 8460

 Kimberly Steele
Phone: +713 852-3420
Email: Kimberly.Steele@am.jll.com


JLL closes $45.4 million sale of 125,108-SF office building in Bethesda, MD


The Fairmont Building, a 125,108-SF boutique office
 building 
at 7735 Old Georgetown Road
 in downtown Bethesda, MD

WASHNGTON, DC – JLL announces that it has closed the $45.4 million sale of the Fairmont Building, a 125,108-square-foot, boutique office building in downtown Bethesda, Maryland.

Jim Meisel
JLL marketed the property on behalf of the seller, Bainum Family Foundation, a private operating foundation based in Bethesda.  Washington Capital Management, on behalf of their client, purchased the asset.  

Located at 7735 Old Georgetown Road, the Fairmont Building is in the top-performing Bethesda submarket and surrounded by 160 restaurants and shops within the live-work-play Woodmont Triangle area. 

Additionally, the property’s downtown Bethesda location places it proximate to Bethesda Row and some of Washington, D.C.’s most coveted residential neighborhoods. 

Andrew Weir

The Fairmont Building is less than four blocks from the Bethesda Metro Station, which provides Red Line service to downtown D.C. and Metro access to the entire region. 

A future Bethesda Station with Purple Line access is a short walk from the property and will further increase Bethesda’s regional connectivity. 

The 12-story building is ENERGY STAR® rated and 96% leased to a diversified tenant roster. The Fairmont Building features a six-level parking garage along with versatile floor plates.

The JLL Capital Markets team representing the seller was led by senior managing directors Jim Meisel and Andrew Weir, senior director Matthew Nicholson and director David Baker.


Matthew Nicholson

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc. [or Jones Lang LaSalle Americas (IL) LP for Illinois properties.

About Washington Capital Management

Washington Capital Management, Inc. (WaCap) is an employee owned investment advisory firm founded in 1977. 

WaCap is headquartered in Seattle, Washington, with branch offices in Portland, Boston, Spokane, Southern California and Northern California. 

WaCap manages assets in real estate equity, real estate debt, fixed income and equity strategies; primarily for institutional clients. 

David Baker
WaCap provides a diverse menu of investment products, including equity real estate investments, commercial mortgages, and construction loans. 

CONTACTS:

 Jim MeiselJLL Senior Managing Director
Maryland License:  521313
Phone: +202 533 2500

Kimberly Steele
Phone: +713 852- 3420



Friday, July 19, 2019

JLL closes sale of a highly visible retail center in Houston, TX


Ryan West
HOUSTON, TX – JLL announced it has closed the sale of North Triangle Shops, a collection of three fully leased, individual, single-tenant pad buildings along with a two-tenant strip building totaling 16,060 square feet in Houston, Texas.

JLL showed the deal to a handful of qualified buyers on behalf of the seller, Braun Enterprises. 

The property was purchased by a local private buyer in an off-market transaction.  

Situated on 2.59 acres on the southwest corner of FM 1960 and interstate 45, North Triangle Shops is ideally positioned with visibility to approximately 250,000 vehicles per day along I-45 and 55,000 along FM 1960.

 Located in the affluent suburb of Spring, approximately 105,800 residents live within a three-mile radius of the property, which is a nearly 12% increase since 2010. 

John Indelli
The property is located 21 miles north of Houston’s CBD and nine miles south of The Woodlands. The center is home to a premier lineup of national tenants like James Coney Island, T-Mobile and Shipley’s Donuts, which occupy the three pad site buildings, while CiCi’s Pizza and PLS Check Cashers together occupy the strip building.

Houston, the fifth largest MSA in the country with a population of nearly seven million, continues to display strong underlying fundamentals that are driving the success of the retail market. 

The Greater Houston Partnership reported that, since 2010, the MSA has added more than one million residents, and it most recently ranked No. 3 in the country, having added 91,689 new residents between January 2017 and 2018. 

A fast-growing population paired with impressive year-over-year job growth (79,800 in May 2019 T-12) has resulted in an overall average retail occupancy rate of 94.5% tying industrial as the No. 1 product type in the city, according to data from CoStar.

The JLL Capital Markets team representing the seller was led by senior managing director Ryan West, director John Indelli and analyst Ethan Goldberg.  

Ethan Goldberg
“We are very pleased to have completed this sale off-market,” Indelli said. “The current buyer pool for strategically positioned retail assets in Houston is deep, and this asset was highly desirable due to its best-in-class tenant lineup and high visibility at the corner of I-45 and FM 1960.”



CONTACTS:

Ryan West
Texas License:  #478560
Phone: +713 852- 3420

 John Indelli
Texas License:  #696391
Phone: +713 852- 3420

 Kimberly Steele
Phone: +713 852- 3420



JLL arranges $20.7 million refinancing of select-service hotel in Oceanside, CA


SpringHill Suites by Marriott San Diego Oceanside/Downtown, a 149-room, all-suite, LEED-certified Silver, select-service hotel located in downtown Oceanside, CA

SAN DIEGO, July 19, 2019 – JLL announces it has arranged a $20.7 million refinancing for SpringHill Suites by Marriott San Diego Oceanside/Downtown, a 149-room, all-suite, LEED-certified Silver, select-service hotel located in downtown Oceanside, California.

Olga Walsh

JLL worked on behalf of the borrower to arrange the five-year, fixed-rate loan with Umpqua Bank. Loan proceeds will be used to retire existing loan, cover transaction costs and return portion of borrower equity.

Aldon Cole
SpringHill Suites by Marriott San Diego Oceanside/Downtown was developed in 2014 and features a rooftop lounge along with a pool and spa. 

Additionally, the six-story hotel houses the Hello Betty Fish House, 2,235 square feet of meeting space, a 24-hour fitness center, business center, game room, complimentary breakfast buffet and two levels of subterranean parking. 

Situated on 1.03 acres at 110 N. Myers Street, SpringHill Suites by Marriott San Diego Oceanside/Downtown in the center of Oceanside’s ongoing renaissance; within the three-block area adjacent to the hotel, nearly $500 million of new mixed-use development is either completed or under way, with hundreds of new residential units as well as retail and restaurants under construction. 

The hotel is also near North County San Diego’s tech cluster and within walking distance to Oceanside City Beach.

Aaron Lapping
 The JLL Capital Markets team representing the borrower was led by senior managing director Aldon Cole, director Olga Walsh and associate Aaron Lapping.
  










CONTACTS:

 Aldon ColeJLL Senior Managing Director
California License No: 01457351
Phone: +1 858 812 2344

 Olga WalshJLL Director
California License No: 2052171
Phone: +1 858 812 2371

Kimberly Steele, JLL Digital Content/PR Specialist
Phone: +1 713 852 3420