JLL closes approximately $104.6 million sale of 950 L’Enfant Plaza in Washington, D.C.

950 L’Enfant Plaza, designed by I.M. Pei, is 315,726-square-foot office building overlooking the Southwest Waterfront in Washington, D.C.

Matt Nicholson

WASHINGTON, D.C. – JLL announced it has closed the approximately $104.6 million sale of 950 L’Enfant Plaza, a 315,726-square-foot office building overlooking the Southwest Waterfront in Washington, D.C.

JLL marketed the property on behalf of the seller, Normandy Real Estate Partners. 

Designed by world-renowned architect I.M. Pei, 950 L’Enfant Plaza is a nine-story office building that is currently 86% leased to four GSA tenants. 

 The property is situated within the larger 2.5 million-square-foot L’Enfant Plaza mixed-use complex that is also home to the International Spy Museum, the Hilton Washington D.C. National Mall and more than 120,000 square feet of retail. 

Jim Meisel

 As the southernmost building in the complex, 950 L’Enfant overlooks the Southwest Waterfront with unobstructed views of Hain’s Point, Ronald Reagan National Airport, National Landing and District Wharf, a transformative 3.2 million-square-foot development.  

Additionally, 950 L’Enfant Plaza has direct connectivity to the L’Enfant Plaza Metrorail Station, offering tenants access to five of the six Metrorail lines, and is just two blocks from the Virginia Railway Express Station, linking the property to the Virginia suburbs via two rail lines. 

The JLL Capital Markets team representing the seller was led by Matt Nicholson, Jim Meisel, Andrew Weir, Stephen Conley, and Dave Baker.

 Andrew Weir

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 investment advisory, debt placement, equity placement or a recapitalization. 

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

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

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.

 Stephen Conley

About Normandy Real Estate Partners

Normandy Real Estate Partners is a leading real estate investment management firm and operator with offices in New York City, Boston, Washington, D.C. and New Jersey with a track record spanning 20 years. 

The firm is a vertically-integrated investment and operating platform with a total of 120 employees with broad real estate experience in areas such as acquisitions, investment management, leasing, property management, construction/development and accounting.

Normandy’s management platform is focused on two complementary investment strategies: i) value-add: a series of closed-end, fully-discretionary investment funds, backed by some of the world’s most prestigious institutional investors; and ii) core-plus: a series of separately-managed accounts for domestic and foreign institutional investors. 

David Baker

Normandy currently manages approximately $1.5 billion of equity capital, representing total asset value of $3.3 billion.

 For more information visit normandyrealty.com.

Contact:

 Kristen Murphy

 JLL Director

 Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

JLL closes sale of Austin, TX neighborhood retail center

 

Chris Gerard

AUSTIN, GA – JLL announced it has closed the sale of West Creek, a 53,338-square-foot, Gold’s Gym-anchored neighborhood retail center in southwest Austin, Texas.

JLL marketed the property on behalf of the seller. Dallas-based RAMROCK Real Estate LLC purchased the asset free and clear of existing debt.

Anchored by Gold’s Gym, West Creek is 100% leased to a mix of national, regional and local internet-resistant tenants, including Great Clips, Palm Beach Tan, Cypress Grill, West Creek Dental, Yanagi, Smoothie Factory, Kumon Math & Reading and Edward Jones.

The center is situated on 9.27 acres at 4404 West William Cannon Drive in an established retail enclave near where West William Cannon Drive intersects with the MoPac Expressway.

Ryan Shore

West Creek is surrounded by some of Austin’s most prominent and exclusive residential communities, including Circle C Ranch, the Village at Western Oaks, Belterra, Sunset Valley and Loma Vista, and more than 89,700 residents earning an average annual household income exceeding $113,700 live within a three-mile radius of the property.

The JLL Capital Markets team was led by Senior Managing Directors Chris Gerard and Ryan Shore, Director Drew Fuller and Analyst Josh Villarreal.

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 investment advisory, debt placement, equity placement or a recapitalization. 

Drew Fuller

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

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

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.                                                                                                                                                                                            

About RAMROCK Real Estate LLC

Formed in late 2017, RAMROCK Real Estate LLC is a Dallas-based private real estate investment firm seeking stabilized, value-add, and development opportunities in the office, retail, multifamily, industrial and land sectors throughout the United States.

West Creek, a 53,338-square-foot, Gold’s Gym-anchored neighborhood retail center in southwest Austin, TX

 Since its formation, RAMROCK has acquired over $1.4 billion of real estate assets located in Atlanta, Austin, Baton Rouge, Denver, Dallas-Fort Worth, Houston, New York, Phoenix, San Antonio and Tulsa.

Contact:

Kimberly Steele

Digital Content/PR Specialist

JLL Capital Markets

9 Greenway Plaza, Suite 700

Houston, TX  77046

T +1 713 852 3420

Kimberly.Steele@am.jll.com

us.jll.com/capitalmarkets

jll.com

NAI Realvest | Charles Wayne Closes Land Sale for Mixed-use Opportunities in DeLand, FL

Steve Costa 

DeLand , FL -- NAI Realvest | Charles Wayne Commercial closed the sale of 6.44 acres on SR 15A in DeLand.  

Lake Mary-based Flagship Companies Group purchased the land for $762,500 to build a mixed-use and self-storage development in the underserved area.

    

"The market is currently undeserved when it comes to the supply of flex space that this project will be providing," says Steve Costa principal at NAI Realvest | Charles Wayne who brokered the sale and represented sellers Norman and Victoria Todd of Osprey, Fla.  

The project, strategically located at the northwest corner of the intersection of SpringGarden and S. Adele Avenues in DeLand, will feature “‘Maker’ style spaces to encourage employment opportunities in the SpringGarden area,” Costa said.  

  The Maker units will consist of five retail units available for lease to local Artisans in the community.  The units will also have capability for light manufacturing uses with additional storage space and secured outdoor parking, he explained.     

The state-of-the-art facility is to be managed and operated by Extra Space Storage and will also include controlled climate storage units and outdoor parking for RVs and boats.  

Chicago-based Flagship is also building and operating self-storage facilities throughout Florida including Daytona Beach , Port Orange , Sanford , Orlando , Lakeland , Tampa and Sarasota .

The DeLand development will support two full time employees and it is estimated that over 50 people will be necessary to support the mixed-use project at full capacity.

CONTACT:

Steve Costa, Principal, NAI Realvest | Charles Wayne Commercial 

407-875-9989 or 386-804-7259; scosta@nairealvest.com

Patrick Mahoney, President / CEO, NAI Realvest,

407-875-9989 pmahoney@nairealvest.com

Beth Payan, Larry Vershel Communications

407-644-4142 beth@larryvershel.com

www.NAIRealvest.com.

JLL arranges $181.5 million financing for Portals III in Washington, DC

Portals III, a 510,157-square-foot, Class A office building located within the Portals mixed-use development in Washington, DC

Andrew Weir

WASHINGTON, DC – JLL announced  it has arranged $181.5 million in financing for Portals III, a 510,157-square-foot, Class A office building located within the Portals mixed-use development in Washington, D.C.

Working on behalf of the owner, JLL placed the floating-rate loan with ACORE Capital, a leading commercial real estate finance company.  

Proceeds will be used to refinance the existing loan, lease-up available space and fund capital improvements.

Portals III represents the third phase of the award-winning Portals development, comprising more than 1.5 million square feet of office space, 370-plus residential units, a 400-room Mandarin Oriental hotel and numerous retail amenities in Washington, D.C.’s Southwest submarket.  

The 10-story property is located at 1201 Maryland Avenue SW, adjacent to the 24-acre District Wharf, and within one-half mile of two Metrorail stations featuring five of the six Metrorail lines.  

Cary Abod

On-site amenities include fitness and conference centers and panoramic views of the Potomac River, Tidal Basin, Jefferson Memorial and Washington Monument, among others.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Andrew Weir, Managing Director Cary Abod, Senior Director Rob Carey and Directors Drake Greer and Jay Graham.

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 investment advisory, debt placement, equity placement or a recapitalization. 

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

Rob Carey

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

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.

About ACORE Capital

ACORE Capital, LP is a commercial real estate finance company focused on originating, acquiring and managing first mortgages, B-notes, mezzanine debt and preferred equity throughout the United States. 

Drake Greer 

ACORE, which is an acronym for Alpha Commercial Real Estate, specializes in providing borrowers with customized financing solutions at competitive rates and flexible terms.

 For investors, ACORE is focused on generating alpha through attractive commercial real estate debt investments coupled with superior risk management. 

For more information, please visit www.acorecapital.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. 

Jay Graham

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 nearly 92,000 as of June 30, 2019. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Contact:

 Kristen Murphy, JLL Director, Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com