Wednesday, September 11, 2019

Marcus & Millichap Arranges $2 Million Sale of 9,026-SF Dollar General Site in Tampa, FL

TAMPA, FL – 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, a 9,026-square foot net-leased property located in Tampa, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $2,262,000

Jim Shiebler

Jim Shiebler, James Garner, James Medefind and Daniel Hurd, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also secured and represented by the same brokers.

           “Our competitive process enabled our team to generate 4 offers within the first 10 days of marketing the property,"  says Mr. Shiebler.  "We harnessed the power of the competition that we created, which Marcus & Millichap is known for, with multiple buyers vying for the asset. 

James Garner
"We placed the property under contract within 20 days of activation and closed at more than 96% of list price” 

Dollar General is located at 12909 N 56th Street in Tampa, Fla.  Tampa has been highlighted nationally as one of the fastest growing markets in the country and nearby University of South Florida has expanded into the largest public university in the State of Florida with more than 50,000 enrolled students. 

           Built in 2014, this Dollar General is perfectly situated just one-half mile from the University of South Florida, which is located in the heart of Tampa. 

Positioned near the intersection of North 56th Street and Fowler Avenue, the daily traffic count exceeds 25,500. The subject property is surrounded by student housing and apartments totaling approximately 3,000 units within a one-mile radius. 

James Medefind 
           Dollar General has built an impressive track record of growth in which net sales rose 9.2 percent in 2018. 

This Dollar General includes over 15,000 stores in 44 states. Their continued growth and track record of success has earned Dollar General respect among some of the nation's largest financial institutions. 

           The Temple Terrace area of Tampa is one of the oldest and most established municipalities in Tampa Bay. 

With the University of South Florida as its northern boundary, Temple Terrace is a clean, diverse area with a median income of approximately $42,800 and a median home value of $152,000, making it affordable and convenient. 
Daniel Hurd
The city is strategically positioned between three major interstates: Interstate 4, Interstate 75, and Interstate 275.

 It is well-located near other municipalities and attractions including Busch Gardens, Adventure Island and the Museum of Science and Industry and downtown Tampa which is undergoing a $3 Billion-dollar expansion. 

The development in downtown Tampa is known as Water Street, which is expected to bring several hundred thousand residents to the Tampa Bay market over the next decade.


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

Chatham Lodging Announces Monthly Dividend

                                          WEST PALM BEACH, FL,  Sept,10, 2019—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 135 hotels wholly or through joint ventures, today announced that its board of trustees has declared a monthly common share dividend of $0.11 for September 2019. 

The common dividend is payable October 25, 2019, to shareholders of record on September 30, 2019.


620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-300-8289

JLL closes $13.5 million sale of Orlando outparcel pads

Starbucks Orlando, FL

ORLANDO, FL,  Sept. 11, 2019 – JLL announced today that it has closed the $13.5 million sale of three newly constructed, single-tenant retail pads occupied by Starbucks, LongHorn Steakhouse and Bahama Breeze in Orlando, Florida.

LongHorn Steakhouse, Orlando, FL
JLL marketed the properties on behalf of the seller, a partnership between North American Properties and institutional investors advised by J.P. Morgan Asset Management. Orion Real Estate Group purchased the assets.

Bahama Breeze Orlando, FL
The three buildings were constructed in 2018 and are net leased to three investment-grade credit tenants, Starbucks, LongHorn Steakhouse and Bahama Breeze. 

Brad Peterson
Starbucks is the only single-tenant Starbucks within a six-minute drive from Universal Orlando, and both LongHorn Steakhouse and Bahama Breeze are the only two restaurants within the Darden family of restaurants located in such close proximity to Universal Orlando. 

Situated at 5460, 5540 and 5620 W. Oak Ridge Road, the three outparcel pads are across the street from the Orlando International Premium Outlets, which welcomed 17 million annual visitors last year and is a top U.S. retail asset based on sales volumes. 

The assets are in the heart of Orlando’s Tourist Corridor, and Orlando welcomed a record 75 million visitors in 2018. The three outparcels are directly connected to theme parks via the new Grand National Drive overpass, a soon-to-be-access point for Interstate 4 Express Lanes that are under construction.

Whitaker Leonhardt
The JLL Capital Markets team that represented the seller was led by Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt and Director Michael Brewster along with Senior Managing Director Marc Mandel and Director Steve Schrenk.

“The outparcels at Grand National are located in the highest-grossing tourism market and one of the best retail trade areas in the United States,” Brewster said. 

“Since 2018, over a billion dollars of real estate investment has poured into the three-mile radius surrounding the assets, culminating in high-quality, institutional-caliber developments like the outparcels at Grand National.”

Michael Brewster 

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

About North American Properties

Founded in 1954, North American Properties is a privately held, multi-regional real estate operating and development company that has acquired, developed and managed more than $7 billion of mixed-use, retail, multifamily and office properties across the United States. 

Marc Mandel 
Rooted in its purpose-driven approach to development, North American Properties is creating great places that connect people to each other; cities to their souls; partners to opportunities; and individuals to experiences that move them. 

Headquartered in Cincinnati, with offices in Atlanta, Dallas and Fort Myers, Florida, the company has developed 22 million square feet of commercial space and 19,000 residential units in 15 states and 67 cities. 

In the past three years, North American Properties has launched 36 projects totaling $2.2 billion in total capitalization. Visit to learn more.

About J.P. Morgan Asset Management

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. 

Steve Schrenk
With more than $148 billion in assets under management and 750 professionals (as of March 31, 2019), J.P. Morgan offers strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives and hedge funds. 

Operating from 18 offices throughout the Americas, Europe and Asia Pacific, the company’s independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives.

 For more information: please visit


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

JLL arranges financing for Virginia Beach retail center

Cory Fowler
CHARLOTTE, NC, Sept. 11, 2019 – JLL announced today that it has arranged acquisition and renovation financing for Fairfield Shopping Center, a 243,031-square-foot, grocery-anchored retail center in Virginia Beach, Virginia.

JLL worked on behalf of the borrower, a partnership between Crosland Southeast and New Market Properties, to place the seven-year, floating-rate loan with BB&T Real Estate Funding. 

Anchored by Food Lion, TJ Maxx, and Rite Aid, the 87%-leased Fairfield Shopping Center is also home to a variety of service, retail and restaurant tenants, including Starbucks, Verizon, SunTrust Bank, Hardee’s, Five Guys and Moe’s Southwest Grill. 

Situated on 24 acres, the property is visible to approximately 55,000 vehicles a day at the intersection of Providence and Kempsville Roads. It is located within in the Hampton Roads MSA, a geographically expansive area stretching from Williamsburg and James City County to the northeastern corner of North Carolina and covers a diverse array of submarkets. 

Nearly 129,000 residents earning an average annual household income of $87,393 live within a three-mile radius of Fairfield Shopping Center.

The JLL Capital Markets team representing the borrower was led by Senior Director Cory Fowler.

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


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

HSA Commercial Real Estate Signs 56,592-SF Lease with Aerospace Firm Safran Nacelles at Gateway V Development Near Indianapolis Airport

Gateway V distribution center, 845 Airtech Parkway, Plainfield, IN

CHICAGO, IL and INDIANAPOLIS, IN (Sept. 11, 2019) — Chicago-based HSA Commercial Real Estate today announced the firm has executed a 56,592-square-foot lease with Safran Nacelles Services Americas LLC (“Safran Nacelles”) at its Gateway V distribution center at 845 Airtech Parkway in Plainfield, Ind., near the Indianapolis International Airport. 

The Paris-based aerospace firm, which designs, integrates and ensures customer support and services for aircraft engine nacelle systems, entered into a 10-year lease and plans to take occupancy in December after relocating from a smaller facility in the market.

 Robert Smietana
The Safran Nacelles lease follows a separate 68,175-square-foot lease with LifeNet Health, a provider of transplant solutions. Executed in February 2019, it also has an initial term of 10 years.

“It’s rare to have industrial tenants sign 10-year leases as both LifeNet and Safran Nacelles have done at Gateway V,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. 

“That really speaks volumes about each corporation’s long-term commitment to the Indianapolis market and the value they place on the development’s strategic location.”

Developed on a speculative basis, the 262,758-square-foot Gateway V distribution center features 32-foot clear heights, 30 truck docks (expandable), four drive-in doors, 185 parking stalls and 70 trailer positions. With the LifeNet and Safran Nacelles leases, the facility is now approximately 50% leased, with 137,991 square feet remaining.

Terry E. Busch 
HSA Commercial Real Estate has recently developed six buildings totaling approximately 900,000 square feet at the Gateway Business Park – most recently, the 151,200-square-foot Gateway IV building, completed in July 2017 and currently fully leased.

Terry Busch and Jared Scaringe of CBRE represented ownership in the lease transaction, and Savills brokers Zak Mirkowski and Taylor Wood represented Safran Nacelles.

About HSA Commercial Real Estate:Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis.

Jared Scaringe
Along with developing and acquiring more than 100 million square feet of commercial real estate across the United States, with a total consideration in excess of $6 billion.

HSA Commercial Real Estate has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio in excess of 14 million square feet in locations across the nation; and owns more than 10 million square feet of commercial property throughout the country.


Rebecca Boykin,, (312) 267-4523 
Abe Tekippe,, (312) 267-4528

JLL arranges financing for mixed-use Salt Lake City-area center

Holladay Marketplace, a 22,151-square-foot, fully leased, mixed-use retail and office property in Holladay, UT

SALT LAKE CITY, UT, Sept. 10, 2019 JLL announces that it has secured permanent financing for Holladay Marketplace, a 22,151-square-foot, fully leased, mixed-use retail and office property in the suburban Salt Lake City community of Holladay, Utah.

JLL worked on behalf of the borrower, Rockworth Companies, to secure the 15-year, sub-4.5%, non-recourse, fixed-rate loan with a national private debt fund. Loan proceeds will be used to repatriate owner equity on the recently constructed project that is already 100% leased.

Holladay Marketplace is part of the Holladay Village Square master-development, which was developed by the borrower in 2014 and awarded the 2018 Urban Design Utah Legacy Award for the thoughtful town center and plaza design. 

Featuring wood-frame construction with a brick, stucco and glazed-glass exterior, the two-story Holladay Marketplace is net leased to a diverse tenant mix that consists of four retail tenants on the main level and two office tenants on the second floor.

Located 10 miles south of downtown Salt Lake City, Holladay Marketplace is situated on 1.15 acres at 4667 South 2300 East in the heart of Holladay, one of Salt Lake City’s premier affluent submarkets. 

Mike White 

The property is in a highly coveted location within Salt Lake City’s Central East submarket and situated on a hard corner just south of the junction of Holladay’s two main thoroughfares, 4500 South and 2300 East. 

The property benefits from exposure from those two main streets as well as being surrounded by residential neighborhoods.

The JLL Capital Markets team representing the borrower was led by Managing Director Mike White

“The unique attribute of this loan was the long-term, 15-year, fixed-rate structure open to prepayment any time after the second year,” White said. “The prepayment fee was fixed at a nominal amount and was not yield or defeasance driven. 

"This offered both long-term interest-rate protection and the flexibility of an affordable prepayment option if desired by a subsequent purchaser in future years. The investment objectives of the owners were perfectly optimized by this highly-unusual feature.” 

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


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