Friday, July 31, 2020

Lee & Associates' Peter Braus Honored for Retail Deal of the Year in New York


  
 Peter Braus
NEW YORK, NY – Lee & Associates, a leader in commercial real estate services throughout North America, announces that Peter Braus, Managing Principal of Lee & Associates NYC and member of the Board of Directors, was named the Real Estate Board of New York's Most Significant Retail Deal of the Year award winner for his work with City Winery Pier 57 earlier this evening.  

City Winery Pier 57
“This was the most complex project of my twenty-plus years as a broker; manifold negotiations and a visionary entrepreneur resulted in this unique deal," said Braus. 
 "Businesses like City Winery will be vital to New York’s recovery and return to its pre-COVID status as the world’s greatest city. To receive the Retail Deal of the Year is a tremendous honor and I'm very grateful,”
The Retail Deal of the Year award recognizes those who demonstrate exceptional ingenuity and creativity throughout New York, as well as those deals whose overall characteristics exemplified its importance to the NYC Retail Market.

 Michael Dorf
City Winery executed a 25-year lease to relocate its flagship location from Hudson Square, where the company began, to a 31,229-square-foot space at Pier 57. 
“Peter really did what a good broker is supposed to do,"  said Michael Dorf, City Winery Founder and CEO.
"He represented me, fought for what was important, and was in my corner, every step of the way. I don’t think there’s another broker who could have done this," 

CONTACT:

Pamela Murphy
Lee & Associates
(832) 315-0219
pmurphy@lee-associates.com

Colorado Springs apartments sold to Oak Coast Properties for $37.25 million


Cottonwood Terrace apartments, 2864 Dublin Boulevard
Colorado Springs, CO

DENVER, CO – JLL Capital Markets announced  it has completed the $37.25 million sale and $28.5 million financing of the Cottonwood Terrace apartments located at 2864 Dublin Blvd in Colorado Springs, Colorado.

JLL worked on the behalf of the seller, Peak Capital, to complete the property sale to Oak Coast Properties. 

Jordan Robbins
JLL also worked on behalf of Oak Coast Properties to secure the 12-year, fixed-rate loan through Freddie Mac. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

The garden-style Cottonwood Terrace apartments consist of 20 buildings with 200 units, averaging 819 square feet, atop 8.27 acres. 

Cottonwood Terrace is centrally positioned near Colorado Springs’ largest employment hubs and most notable retail centers, such as the 1.2-million-square-foot Chapel Hills Mall. 

Additionally, the apartment community is in close proximity to the U.S. Air Force Academy and the U.S. Olympic Headquarters, along with some of Colorado’s most desirable hiking and outdoor recreation sites like Garden of the Gods, Manitou Springs and Pike’s Peak.

Mack Nelson 
“Our apartments portfolio continues to perform and beat expectations, even with COVID-19 as a backdrop,” Phil Nahas, Managing Partner of Oak Coast Properties. “Thus, we are comfortable continuing to acquire quality multifamily properties like Cottonwood Terrace.”

 JLL’s Capital Markets team representing the seller is led by Managing Director Jordan Robbins and Directors Mack Nelson and Chris White
Financing is led by Senior Managing Director Charles Halladay, Senior Director Brock Yaffe and Director Rick Salinas.

 Chris White
“Cottonwood Terrace is a great investment opportunity with a historically strong performance,” said Robbins.

 “It is a tremendous value-add property with plenty of room for renovations to continue increasing the value of the community.”

 “Colorado Springs continues to be sought after by a growing amount of capital,” added Nelson. “The sales process was competitive, resulting in strong pricing and excellent execution by Oak Coast, even during the global pandemic.”

Charles Halladay
 JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform.

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. 

For more news, videos and research resources on JLL, please visit our newsroom.

About Peak Capital

Peak Capital Partners owns and manages apartment complexes throughout the United States. 

Through analytically stringent management, disciplined underwriting and a relentless sourcing of new opportunities, Peak Capital provides equity partners with compelling multi-family investment opportunities that produce portfolio diversification, compelling cash yields, capital appreciation, and tax benefits.


Brock Yaffe 
About Oak Coast Properties

Oak Coast Properties is a real estate investment firm primarily focused on core plus, value-add and opportunistic real estate acquisitions across the United States. 

Our exclusive platform not only provides collective investment opportunities in direct deals, but also accommodates Joint Venture investments alongside likeminded JV operating partners with experience in their asset classes and geographic locations. 

About JLL

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

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

Rick Salinas
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. 

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

 For further information, visit jll.com.
CONTACT:

Natalie Passarelli
 JLL Senior Associate
 Public Relations
Phone: +1 (224) 477-7307

Northwest Washington DC. apartments purchased in cash for $49 million


The Shaw, a multi-housing apartment community in the Northwest Washington D.C. area.

 WASHINGTON DC, July 30, 2020 – JLL Capital Markets announced today that it has closed the $49 million sale of The Shaw, a multi-housing apartment community in the Northwest Washington D.C. area.

JLL completed the sale from the seller, Monument Realty, to the buyers, a joint venture between Shimizu Realty Development (U.S.A.) Inc. and Capital Security Advisors, LLC.


Walter Coker 
The Shaw is located next to the D.C. area’s most sought-after restaurants, shopping and entertainment, with the prominent Logan Circle, U Street Corridor,14th Street Corridor and Bloomingdale neighborhoods just a few blocks away.

The Walk Score® for locals is 98 and 92 for Bike Score® with easy to access to all that the “live-work-play” neighborhood has to offer, with nearly 70% of locals using public transportation, walking or biking to work.

The Shaw is adjacent to the Shaw/Howard University Station and Yellow Line. For those who prefer to drive, the apartments are close to the 14th Street roadway that links directly to I-395 and Route 1.

"In addition to the lively entertainment scene, The Shaw has unmatched proximity to Washington D.C.’s sought-after employment opportunities," said Dennis Irvin, President of Capital Security Advisors LLC.
Brian Crivella

“The emergence of this neighborhood and nearby areas has been increasing over the past several years and has even become a second base for the world’s largest e-commerce platform.”

The Shaw apartments’ design exhibits redefined living, from open layouts to city spa bathrooms touting frameless glass showers and ascent wall tiling to chef-caliber kitchens.

Personal outdoor areas for residents include private balconies and breathtaking views of their city.

 In the main areas, The Shaw has a welcoming lobby filled with comfortable seating and atmospheric lighting, a rooftop terrace and lounge, and is powered by smart home technology – app friendly building access, latch keyless entry, virtual front desk and integrated parcel locker systems for deliveries. 

“The Shaw is truly a trophy asset with exquisite design and superior apartment unit layouts. We are excited to add it to our portfolio,” continued Irvin. 

The JLL Capital Markets team representing the seller was led by Managing Directors Walter Coker and Brian Crivella and Director Robert Jenkins.



CONTACT:

Natalie Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307



Thursday, July 30, 2020

JLL completes over 13,000 SF of new office leases at Sky Harbor Towers in Phoenix, AZ

Sky Harbor Towers, 4605 and 4615 East Elwood Street in Phoenix, AZ. The property totals two buildings and 219,670 square feet at the junction of Interstate 10 and State Route 143
Chris Latvaaho

PHOENIX, AZ – Continuing its leasing momentum at Sky Harbor Towers, the Phoenix office of JLL has completed a 9,449-square-foot office lease with National Partners in Healthcare (NPH).

 The lease establishes a first-ever Valley office for NPH, a national healthcare organization delivering best-in-class anesthesiology services and marks 13,000 square feet of new office leases completed at Sky Harbor Towers this quarter.

 “Phoenix has a thriving healthcare market with steady demand for services – the perfect place for a company like NPH to increase its footprint to grow its already strong local presence,” said JLL Senior Vice President Chris Latvaaho, who represented Sky Harbor Towers owner, a venture between The Muller Company and Harbert Management Corporation,

John Bonnell,
Also assisting were JLL Managing Director John Bonnell, Executive Vice President Brett Abramson and Associate Chris Beall.

“Sky Harbor Towers gives NPH access to a tremendous labor pool and a location at the center of the Valley’s robust local freeway system. The building is also newly renovated, giving NPH the latest modern conveniences,” adds Latvaaho.
 NPH was represented by Dominic Perry of Avison Young.

 Located at 4605 and 4615 E. Elwood St. in Phoenix, Sky Harbor Towers totals two buildings and 219,670 square feet at the junction of Interstate 10 and State Route 143 – less than four miles from Sky Harbor International Airport.


Brett Abramson 
Project amenities include an on-site fitness center, deli/café with outdoor seating, shaded outdoor meeting area, tenant lounge and upgraded lobbies, elevators, common areas and exterior landscaping.

The building’s freeway visibility is enhanced by an available building-top sign and soon-to-be-completed freeway monument sign.

Sky Harbor Towers was purchased by The Muller Company and Harbert Management Corporation in 2015 as a vacant asset. 

It has since received a $20 million renovation and leased to tenants including Allegis Global Solutions, Ready Logistics, Aspen University and XPO Logistics.

 JLL has also just signed an additional, 4,000-square-foot lease with Sentry Management Inc., a homeowners association management company that will relocate to Sky Harbor Towers from within the market.

Ross Peterson 
 The commitment brings third quarter lease activity at Sky Harbor Towers to more than 13,000 square feet. 

Ross Peterson with Colliers International represented the tenant.

NPH will move into its new space at Sky Harbor Towers in December. Sentry will occupy its space during fourth quarter 2020.

 Remaining space at the project includes a full 7th/top floor in the 4605 building (18,249 square feet), a full second floor in the 4615 building (26,000 square feet), and two additional suites totaling 7,500 and 8,800 square feet.

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

CONTACTS:

Stacey Hershauer
Phone: +1 480 600 0195



DAUM Commercial Brokers $14.8 Million, Six-Year Industrial Sublease in La Mirada, CA


DAUM Commercial brokers six-year, $14.8 million sublease 
in this 254,700-SF  warehousing and distribution facility 
at 15300 Desman Road, La Mirada, CA

LA MIRADA, CA, July 30, 2020 – DAUM Commercial Real Estate Services recently secured a six-year sublease of a building in the Los Angeles County city of La Mirada, California on behalf of the sublessor, All-Ways Pacific LLC, for a total consideration of $14.8 million.

Wade Tift 
The new tenant, Orange Courier, a messenger, delivery, warehousing and distribution services company, is relocating from a nearby Orange County location. Orange Courier was represented by JLL, Wade Tift in the transaction

According to Nate Ortega, an Associate based out of DAUM’s Mid-Counties office, strategically utilizing this sublease option helped achieve the business objectives of both parties involved, even through the uncertainty caused by the COVID-19 pandemic.  

“Our Client, a major shipping and logistics operation, was consolidating multiple locations into a single, larger facility,” explains Ortega, who completed the sublease transaction alongside Casey Mungo, an Executive Vice President at DAUM.

Nate Ortega
“With several years left on their existing lease, they decided to sublease the property, and we were ultimately able to help them make a more seamless transition.”

Ortega notes that the Mid-Counties industrial submarket is one of the tightest, posting a 2.68% vacancy rate in Q2, according to a recent DAUM report.

Mungo adds: “While the sublessor had a rare facility in an ideal location, the market had come to a near stand-still following the pandemic declaration.

"Many tenants have been taking wait-and-see approach before making their next moves, if they are able.

"As a testament to our relationships in the market and the strength of this asset, we were able to consummate a deal with a sublessee who could see the larger picture.”
.
Casey Mungo
 “This asset is located right at the border of Los Angeles and Orange counties near major thoroughfares including Interstate 5, State Route 91, and Beach Boulevard, providing the tenant convenient access throughout the region,” continues Ortega.

The Class A property features 41’ clear height, 43 dock high loading doors, one ground level loading door, ESFR sprinklers and two secured yards. 


CONTACTS:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

Nadel Architecture + Planning Continues Rapid Expansion, Appointing Anthony Sanchez to Oversee Retail Studio and Promotes Ancelmo Perez to Studio Director



Anthony Sanchez 
LOS ANGELES, CA, July 30, 2020 –  Nadel Architecture + Planning, Los Angeles’ premier architecture and design firm, has continued its strategic and rapid expansion by adding Anthony Sanchez as Design Director to oversee the firm’s design and promoting Ancelmo Perez to Studio Director.

“As clients place their trust in us and award us with significant projects even during these unprecedented economic times, we are focused on having the proper team in place to deliver the unparalleled services on which Nadel has earned its reputation,” says Greg Lyon, Chairman of the Board and Principal for Nadel.

“In moving forward with our firm’s extraordinary growth trajectory, we are thrilled to welcome Anthony to our team and to elevate Ancelmo as an experienced member of our team.” 

Ancelmo Perez
In his new role with Nadel, Sanchez will focus on designing urban-infill retail and mixed-use with his experience on large-scale experiential shopping destinations. 

“I’m excited to begin this new chapter with Nadel,” says Sanchez. “Nadel is the iconic L.A. architecture and design firm, and I’m looking forward to being an integral part of the next generation of Nadel leadership.” 

Before joining Nadel, Sanchez served as senior project designer for L.A.-based URW (Unibail Rodemco Westfield), where he led the exterior design for the $1.2 billion Westfield Century City project, as well as other mixed-use and residential projects within the firm’s design portfolio.

Greg Lyon
 In addition to focusing on densification, over the past two decades Sanchez has worked in various design capacities with Architects Orange, WET Design, and KTGY Group, Inc, beginning at Nadel as an intern in 2001.

“Anthony and I have known each other professionally in the architecture field for 13 years,” says Lyon. “As design director, he will help us deliver superior design projects to our clients.” 

In Ancelmo Perez’s new role as Studio Director, he is responsible for leading the studio’s culture and philosophy, financial management, architectural management, and business development efforts.

An eight-year veteran with the firm with 15 years of industry experience, Perez was most recently a senior designer, focusing on ground-up multifamily properties.  

Ryan Weller
“I am exceptionally proud to be a part of a team that consistently delivers the highest caliber of architectural design projects in the business,” says Perez. “I’m looking forward to continuing Nadel’s proud legacy.” 

Lyon notes that Perez is an integral part of the Nadel team who will assist in ushering in a new era for the firm.

“We are fortunate to have Ancelmo working with us to help produce the high-quality projects that solidify our status as the Southern California architecture and design firm that the commercial real estate industry has known and trusted for the last 47 years.” 

Patrick Winters
The two team changes come on the heels of Nadel’s hiring of Ryan Weller as Director of Retail to manage the firm’s new Direct-to-Retail studio of retailer services and design. 

Nadel also recently announced its restructuring to position for long-term growth. As part of the firm’s evolution into its next chapter, Lyon and Patrick Winters, veteran principals at the firm, officially took the helm as Nadel’s next generation of leaders. In the restructuring, Winters was also appointed President of the firm. 
  
CONTACTS:

Alex Caswell / Lexi Astfalk 
Brower Group
(949) 438-6262