Tuesday, January 7, 2020

Hubris Capital purchases Baltimore office properties for $29 million

201 North Charles, Downtown Baltimore, MD

BALTIMORE, MD, Jan. 7, 2020 – JLL Capital Markets announced today that it has closed the sale of 100 South Charles-Tower II and 201 North Charles, two office properties totaling $29.228 million in Downtown Baltimore, Maryland.

JLL represented both sellers in separate transactions.  An investor led by Dallas-based Hubris Capital purchased both assets, closing the two transactions within a day of each other.

100 South Charles-Tower II, Downtown Baltimore, MD
100 South Charles-Tower II, also known as Tower 2 at Pratt and Charles, comprises 160,754 square feet within an eight-story office tower (floors 4-11) built on top of a three-story podium containing the retail and common lobby of the entire 100 South Charles development.

 Tower 2 is 74.6% leased to a diverse tenant roster, including credit tenants Liberty Mutual Insurance Co., Jacobs Engineering Group, Behavioral Health Systems and four GSA Departments. 

Andrew Finkelstein
Situated in the core of Baltimore’s Pratt Street Corridor, the property recently underwent nearly $2 million of capital upgrades independent of Tower I’s multi-million transformation to the complex’s common areas. It also is within steps of Baltimore’s Inner Harbor and a wealth of retail and entertainment amenities.

201 North Charles is situated a few blocks north of 100 South Charles at the corner of East Lexington Street and North Charles Street within two blocks of the Metro and the courthouse and within a few blocks of more than 2,200 hotel rooms and over two million square feet of recent office to multi-housing conversions. 
Jay Wellschlager

The 28-story, 251,943-square-foot property is Baltimore’s only LEED Gold EB Certified CBD office tower and, due to the building quality and efficient floorplate, has measurably outperformed the remainder of its peer set over the past two decades. 

As one of the tallest office properties in downtown Baltimore, the 77.2%-leased tower features unobstructed views of the Baltimore skyline and the Inner Harbor and offers amenities, including 52 underground parking spaces, a cafĂ©, fitness center with showers and a locker room and 24-hour building security. 

JLL’s Capital Markets team representing the seller was led by Managing Director Jay Wellschlager, Vice President Andrew Finkelstein and Senior Analyst Elizabeth Runge.

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

Kristen Murphy, JLL Senior Managing, Public Relations 
Phone: +1 617 848 1572
Email: Kristen.Murphy@am.jll.com

Daum Commercial Helps Lease Total 101,663 SF of Class A Industrial Development in Orange County, CA

DAUM Commercial helps lease 101,663 SF class A industrial development in Orange County, CA to two nationally recognized credit tenants

ANAHEIM, CA and PLACENTIA, CA – DAUM Commercial Real Estate Services recently completed the leases of two industrial buildings totaling 101,663 square feet of industrial space in Orange County, California on behalf of the lessor, a joint venture formed by Panattoni Development Company, Inc. and a fund represented by Principal Real Estate Investors.

Moving equipment and storage rental company U-Haul International, Inc. will occupy a 53,850 square-foot warehouse, while industrial and housing materials manufacturer and distributor LG Hausys America, Inc., a division of the globally recognized LG brand, will occupy a 47,813 square-foot warehouse.

U-Haul has leased this 53,850-SF building at 1367 South Van Buren Street in Anaheim, CA
Both the free-standing buildings are part of Orange County Commerce Center, a Class A industrial development completed in 2019.

The new tenants join Rakuten Super Logistics and Beacon Roofing Supply at the four-building project, which totals 232,000 square feet and is located on 10 acres on the border of Anaheim and Placentia, California, according to DAUM’s Executive Vice President Chris Migliori.

 LG Hausys America Inc., a division of the globally recognized LG brand, will occupy a 47,813 SF building  at 711 South Van Buren Street in Placentia, CA
“Orange County has become one of the tightest industrial markets in the United States due to its prime location near Los Angeles, the Inland Empire, and major ports,” explains Migliori, who arranged the leases along with fellow DAUM Executive Vice President Paul Gingrich.

“The full lease-up of this project within months of completion speaks to the successful execution of the developer’s strategy. The modern amenities and superb quality of these facilities meet this high demand for well-located, well-appointed space suited for mid- and large-size industrial users.”

Chris Migliori
Migliori notes the caliber of the four nationally recognized credit tenants leasing space at the Orange County Commerce Center demonstrates the project’s strength as one of the best industrial developments the market has to offer.
According to Jacob LeBlanc, Partner at Panattoni: “The Orange County Commerce Center is positioned in an ideal location that not only provides convenient access to several major freeways and the ports of Los Angeles and Long Beach, but is in close proximity to many prominent companies and residential neighborhoods, optimizing the moving service and distribution operations of the new tenants.”

These two most recent leases are a culmination of several years of successful partnership with DAUM Commercial, notes LeBlanc. Migliori and Gingrich helped the developer acquire the land, a former strawberry farm, in 2017, and were the exclusive listing agents. 

Paul Gingrich
U-Haul signed a five=year lease of the building located at 1367 S. Van Buren Street in Anaheim and includes more than 8,150 square feet of two-story executive office space, 2.355 net acres of land, six dock-high loading doors with Z-Guards, one grade-level loading door, and 87 parking stalls.
LG Hausys signed a 7-year lease of the building located at 711 S. Van Buren Street in Placentia and includes 6,995 square feet of two-story executive office, 2.051 net acres of land, five dock-high loading doors, one grade-level loading door, and 69 parking stalls.

Each building features 30’ minimum warehouse clearance height, an 800-amp main switchgear with 2,000-amp UGPS, an ESFR sprinkler system, a fully secured and gated truck court/yard, 100% concrete truck court and auto parking areas, painted interior walls, white scrim foil, painted columns, and 3.0% skylights.

Jacob LeBlanc
The development is situated in close proximity to five major freeways (Interstate 5, State Routes 91, 57, 55, and 241 Toll Road) and the Anaheim Canyon Metrolink System.
The project also boasts several corporate neighbors, including The Walt Disney Company, Time Warner Cable, Kaiser Permanente, and PacSun, among others.


Katie Haga / Elisabeth Manville
Brower Group
(949) 438-6262

JLL closes $18.6 million sale of trophy Orlando, FL retail center

 International Shoppes, International Drive, Orlando, FL

ORLANDO, January 7, 2020 – JLL Capital Markets announced today that it has closed the $18.6 million sale of International Shoppesa 73,568-square-foot shopping center anchored by Boot Barn on the renowned International Drive in Orlando within the world’s most recognized tourist destination.

John Krzyminski 
JLL marketed the property on behalf of the seller, Edgewood Capital Advisors LLC, and procured the buyer, 5600 IDrive LLC.

Situated on 5.64 acres at 5600 International Drive, International Shoppes is situated within the International Drive Tourist Corridor at the southeast corner of Kirkman Road and International Drive, which sees a combined 62,000 vehicles per day. 

The property is in the heart of Orlando’s strongest tourism market and surrounded by numerous demand drivers, including Walt Disney World Resort, which is visited by 60 million visitors annually, and the iDrive Corridor has more than $2 billion in planned and approved development projects.

 International Shoppes is 95% leased to a variety of specialty shops and restaurants.

The JLL Capital Markets team that represented the seller was led by Senior Vice President John Krzyminski and Senior Associate Max Krzyminski. John and Max Krzyminski specialize in investment advisory and sales in the Tourist Corridors, especially the International Drive market.

Max Krzyminski
“With an influx of local and out-of-area real estate investors looking to place capital into the Orlando-area tourist markets, this was a great opportunity for Edgewood Capital Advisors to realize an aggressive exit value for the asset, and at the same time, the buyer was able to recognize the tremendous future value increase of this asset,” Krzyminski said.

 “International Shoppes is located at one of the top intersections in the greater Orlando MSA and will only continue to appreciate in value as surrounding developments come to life, including the new Universal Orlando theme park, in particular, which will have an entrance just south of this property on Kirkman Road.”

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 Senior Associate, Public Relations
Phone: +1 713 852-3420

Arbor Funds $1.2 Million Fannie Mae Small Loan in St. Petersburg, FL

 Michael Noll 
UNIONDALE, NY (Jan. 6, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae Small Loan in St. Petersburg, FL. The property, Garden Court Apartments, received $1.2M in financing from the program.

 Michael Noll of Arbor’s New York City office originated the loan.
“This refinance deal allowed our client to acquire a lower interest rate, while securing a foothold in the niche market of the thriving St. Petersburg, FL, region,” Noll said.

“This is a perfect example of how our close, long time partnership with Fannie Mae enables us to meet and exceed the needs of our diverse clients, large and small, all across the country.”

Garden Court Apartments, St. Petersburg, FL

This pet-friendly apartment community was built in 1957 and has 18 units featuring open concept floor plans, updated baths and remodeled kitchens.

The complex is a short drive to Gulf beaches and family-friendly attractions such as the Education Innovation Center, Secrets of the Sea Marine Exploration Center and Aquarium, and Great Explorations Children's Museum.


Bina Handa
Tel: 516.506.4229