Monday, January 6, 2020

Jacqueline Kennedy's Red Gate Farm Property on Martha's Vineyard Priced at $65 Million

Jacqueline (Jackie) Kennedy Onassis 

Aquinnah on Martha’s Vineyard, MA -- After being first lady and JFK’s tragic death in 1963 and her second husband, Aristotle Onassis, died in 1975, Jackie Kennedy Onassis did something she had never done before. 

   Red Gate Farm in Aquinnah on Martha’s Vineyard in Massachusetts

               (Photo Credit:  Christie's International Real Estate) 

In 1979, on her own, she bought 340 idyllic oceanfront acres in Aquinnah on Martha’s Vineyard in Massachusetts. She then commissioned architect Hugh Newell Jacobsen to design her house and named it Red Gate Farm, according to

Carolyn Kennedy Schlossberg
  It was where she could be surrounded in nature that she found both healing and regenerative.  Since Jackie’s death in 1994 and the death of her son, John, in 1999 (not much more than a mile from the farm), her daughter, Carolyn, and her husband, Edwin Schlossberg, enlarged and renovated the house. 

Edwin Schlossberg
 After years of enjoying it with their growing family, Carolyn has put it on the market priced at $65 million.


Genelle C. Brown
Content Manager, Media Division
Phone:  434-480-4504
Twitter:  @toptenrealestat


JLL arranges $7.5 million refinancing for retail center near Boston

 Lauren O’Neil

BOSTON, MA, Jan. 6, 2020 – JLL Capital Markets announced today that is has arranged a $7.5 million refinancing for Pond Street Mall, a 28,164-square-foot, CVS-anchored retail center in the Boston-area community of Newburyport, Massachusetts.

JLL worked on behalf of the borrower, Quincy & Company, to place the long-term, fixed rate, non-recourse loan with Centreville Bank. Loan proceeds will be used to repay an existing loan. Quincy and Company acquired the asset in 2014.

Martha Nay

Pond Street Mall is a neighborhood retail center with a tenant lineup that includes a high-performing CVS, YWCA and Panda Dry Cleaners. 

Situated on 2.4 acres at 13 ½ Pond Street, Pond Street Mall is at the high-traffic intersection of High and State Streets in Newburyport, a coastal, affluent, suburban Boston town in Essex County. Additionally, the center is between Newburyport’s historic downtown, dense residential areas and major highway access.

The Capital Markets debt placement team representing the borrower was led by Senior Managing Director Lauren O’Neil and Director Martha Nay. Vice President of Commercial Lending Craig Schermerhorn represented Centreville Bank.

Craig Schermerhorn 
“The combination of outstanding sponsorship and strong, stable real estate allowed for a superior, long-term, non-recourse execution for the borrower,” Nay said. “Centreville Bank was a tremendous partner for Quincy and Company from start to finish in placing this loan.”

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

Metwest International to add Starbucks to its Menu of Amenities

Kalyn Brandewie

TAMPA, FL -- MetWest International is adding Starbucks to its already impressive line-up of amenities at its retail center across from International Plaza and Tampa International Airport in Tampa’s Westshore Business District.

Starbucks will take over a portion of the former E*Trade space leasing 1,668 square feet according to Kalyn Brandewie of Florida Retail Partners, who represented MetWest ownership in the transaction.

The new Starbucks slated to open in late summer or early fall will be the third licensed store controlled by Tampa developer Punit Shah, CEO of Liberty Group and a minority owner of the Miami Marlins. Shah also owns licensed Starbucks stores on Harbour Island and in downtown Tampa's Channel district.

 Punit Shah

Between MetWest’s one million square feet of office space, numerous restaurants and the on-site AC Hotel by Marriott as well as the project’s proximity to other nearby office buildings and apartments, MetWest is an ideal location for a new Starbucks, according to Shah.

“The addition of Starbucks to the mixed-use development is the missing piece of the puzzle, according to Brandewie.  The customer base is robust with approximately 5,000 employees on-site in four Class A office buildings and 2,500 residential units surrounding the project.” The store will also be a complement to the existing restaurants.

"Culturally, Starbucks shares our vision of providing premier hospitality experiences and, candidly, we really enjoy contributing to the energy that Starbucks brings to a neighborhood," Shah said.


Kalyn Brandewie

ViaWest Group sells Iconic Biltmore Center in Phoenix, AZ

The Biltmore Center, comprised of three Class A office buildings totaling approximately 643,145 square feet on the northwest corner of 24th Street and Camelback Road in Phoenix, AZ

PHOENIX, AZ, Jan. 6, 2020 – JLL Capital Markets announces the sale of the Biltmore Center, comprised of three Class A office buildings totaling approximately 643,145 square feet on the northwest corner of 24th Street and Camelback Road in Phoenix, Arizona. 

Steven R. Schwarz
A joint venture formed by Phoenix-based ViaWest Group sold the asset to a newly-formed venture, with ViaWest maintaining an ownership and management position. 

The property sold for $212 million.

This sale is the largest multi-tenant office sale in metro Phoenix in 2019 and the fourth largest in Phoenix history. 

JLL represented the seller, a partnership between Prospect Ridge and ViaWest Group.  Additionally, JLL secured the acquisition loan of $150.74M on behalf of ViaWest and its new partner.
Ben Geelan

The prior joint venture purchased the office complex in 2015 for $163.1 million at a time when office vacancies were still at prerecession highs above 25%.

 However, ViaWest saw a value-add opportunity with the right location, views, access, parking and tenant base.

Beginning with a rebranding, ViaWest made significant investments to elevate the property, including updated lobbies and corridors, complete overhaul of the outside plaza, state-of-the-art fitness center, new restaurants and the addition of a tenant lounge. 

These market-leading amenities include Press Coffee and Over Easy; an indoor and outdoor tenant lounge with shuffleboard, bag toss and table tennis; weekly food trucks; a fully-renovated fitness center; a 150-seat conference center; a two-acre park for weekly yoga and tenant events and an on-site hair salon. 
Michael Leggett

Additional Class A touches such as on-site car detailing, shoeshine station and a bike share program brought fresh energy to the property and made it appealing to a new mix of tenants, including creative office groups and technology companies.

“We are thrilled to be able to execute on our plan and add value for our investors. 

"In addition, we are looking forward to growing our relationship with our new value-add partner and continuing to develop the Biltmore Center as the premier asset on the Camelback Corridor,” said Steven Schwarz, ViaWest Group Founding Partner.

The JLL Capital Markets team representing the seller was led by Director Ben Geelan, Senior Managing Director Michael Leggett, and Analyst Nick Ray.

Nick Ray
“Biltmore Center was a rare offering that garnered substantial investor interest from domestic as well as foreign capital,” Geelan added. “It is a truly iconic, best-in-class asset that is situated in the heart of the dynamic Camelback submarket.”

Financing was led by JLL Capital Markets Senior Managing Director Jeremy Womack and Senior Managing Director Ed Coco.

Leasing at Biltmore Center is being handled by the Colliers International team of Ryan Timpani and Phil Breidenbach.

As noted in JLL’s 3Q 2019 Phoenix Office Insight Report, record-breaking population growth and a low cost of living will continue to funnel office activity to the Phoenix metro area. 

Jeremy Womack 
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.

Ed Coco

Established in 2003, ViaWest Group is a Phoenix-based, full-service commercial real estate investment, development, and property management firm. 

ViaWest Group has been one of the fastest growing real estate investment companies in the Southwest U.S. over the last few years with over $400 million of acquisitions and development.  

Since inception, ViaWest has been involved in over $1 billion of acquisitions. 

For more information, please contact

About JLL:
Ryan Timpani

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. 

Phil Breidenbach
JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. 

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

For further information, please visit


Kristen Murphy, JLL Senior Manager, Public Relations 
Phone: +1 617 848 1572