Thursday, April 9, 2020

Berger Commercial Realty/CORFAC Brokers Lease to Secure Second Health Insurance Company in Fort Lauderdale, FL

  
Bayview Corporate Center, Fort Lauderdale, FL

FORT LAUDERDALE, FL (April 9, 2020) – USA Medicare Advisors Insurance Agency, LLC will open its second location in Fort Lauderdale thanks to a new lease brokered by Berger Commercial Realty/CORFAC International for landlord ROC III Fairlead Bayview Corporate Center, LLC.

 Jonathan Thiel
Berger Senior Sales Associate Jonathan Thiel handled the transaction, which will provide 8,300 square feet of office space throughout a six-year lease for the health insurance company in the 412,520-square-foot, 12-story Bayview Corporate Tower at 6451 North Federal Highway.

“The extensive amenities and renovations to the building, in addition to the accessible location, and ample and secure parking have proven very attractive to businesses looking to attract top talent,” Thiel said.  

“We used thoughtfulness and creativity to make this deal the right fit for our tenant.”


CONTACT:


Jennifer J.H. Pierce
Account Director
Pierson Grant PR
6451 North Federal Highway,
Suite 1200  |
  Fort Lauderdale, FL   33308
T:  954.776.1999, ext. 232  |

www.corfac.com or call 224.257.4400

Pair of Chicago office assets trade to RE Development Solutions for $24 million


The East/West Corridor submarket of DuPage County, IL includes Two TransAm and 750 Warrenville, two Class A office assets totaling 212,139 square feet


Patrick Shields
CHICAGO, IL, April 9, 2020 – JLL Capital Markets announced today that it has closed the sale of Two TransAm and 750 Warrenville, two Class A office assets totaling 212,139 square feet in the prestigious western suburbs of Chicago, Illinois.

JLL represented the seller, American Landmark Properties Corporation, and procured the buyer, RE Development Solutions.

Located at 2 TransAm Plaza Drive in Oakbrook Terrace and 750 Warrenville in Lisle, both properties are positioned within the East/West Corridor submarket of DuPage County.

 This submarket is an established corporate location with immediate access to two interstates, the Yorktown-Oak Brook retail corridor and the executive housing stock in Oak Brook, Hinsdale, Burr Ridge and Naperville. 

Jaime Fink
Two TransAm offers 117,759 square feet of space within a five-story building that is 87.7% leased to 18 tenants. Nine tenants reside at the 86.7%-leased, four-story, 94,380-square-foot 750 Warrenville property.

The JLL Capital Markets team representing the seller was led by Senior Director Patrick Shields, Senior Managing Directors Jaime Fink, Jeffrey Bramson and Bruce Miller and Director Sam DiFrancesca.

“This was a fantastic opportunity to capture strong current cash flow while continuing to add value through lease up and marking in place rents to market,” Shields said.

About JLL:

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

Jeffrey Bramson 
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.


About American Landmark Properties Corporation

American Landmark Properties is the owner of numerous suburban office properties in Chicago, as well as Class A office high-rises in Cleveland, New Jersey and New York. 

 Bruce Miller
 It is widely known for its acquisition of the Willis Tower in 2004 and its sale to the Blackstone Group in 2015.

About RE Development Solutions:

RE Development Solutions is a Commercial Real Estate Management Company with a mix of roughly 1,400,000 square feet of industrial, office and retail space under management. 

Over the last four years, the firm has continuously doubled its management portfolio with a goal of reaching two million square feet under management by the end of 2020. 
Sam DiFrancesca

The team is focused on expanding its capabilities and continuing to provide excellent service to its investors and tenants.


 


















Contact: 

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




JLL completes sale and financing of One Glen Lakes in North Dallas, TX


One Glen Lakes is a 168,953-square-foot, multi-tenant, Class A office building in Dallas, TX

DALLAS, TX – JLL Capital Markets announced it has closed the sale and financing of One Glen Lakes, a 168,953-square-foot, multi-tenant, Class A office building in Dallas, Texas.
Jack Crews

JLL represented the seller, a joint venture between Stockbridge and Cawley Partners, and procured the five-year, floating-rate structured loan with future funding for Capex and TI/LC on behalf of the buyer, ICM Asset Management.

One Glen Lakes is located at 8140 Walnut Hill Lane just west of the Texas Health Presbyterian Hospital campus in North Dallas. 

The property is situated just one block from the North Central Expressway and close to the LBJ Freeway providing superior access to the entire Dallas Fort Worth Metroplex. 

Additionally, One Glen Lakes is within walking distance of the Walnut Hill DART Station and the Dart Rail Bus Station and is surrounded by affluent neighborhoods and plentiful retail amenities. The 10-story building offers tenants an on-site deli, convenience store, on-site banking and covered parking.

 Jason Piering



The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Managing Director Jack Crews.

JLL’s Capital Markets Debt Placement team representing the borrower was led by Managing Director Jason Piering.

About Stockbridge


Stockbridge (stockbridge.com) is a real estate investment management firm headquartered in San Francisco, California, with offices in Atlanta and Chicago. 

The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States. As of December 31, 2019, the firm’s total assets under management totaled approximately $16.3 billion.


Contact: 

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


Tratt Properties Affiliate Buys Orlando, FL CVS Distribution Center for $41.2 Million


Jonathan Tratt
ORLANDO, FL – PBV Logistics Center LLC, an affiliate of Phoenix-based Tratt Properties LLC, has completed the $41.2 million purchase of a multi-building distribution center in Orlando, Florida. 

Located in the heart of the metro Orlando market, the asset is fully occupied under a long-term lease to CVS Health Corporation and serves as a key distribution point for the retail and pharmacy leader’s Florida supply chain.

“This facility provides e-commerce and supply chain efficiencies for CVS at a critical time in our country and in a state that is one of the company’s largest U.S. markets in terms of total store locations,” said Tratt Properties Principal Jonathan Tratt. 

“The strength of the industrial logistics sector, combined with this building’s long-term credit lease to CVS, has us very confident in its longstanding value. We continue to pursue opportunities like this in strategic markets across the U.S.”

Totaling 713,585 square feet on 42.96 acres, the Orlando CVS distribution center is comprised of a main building with 685,007 square feet of warehouse space and 16,650 square feet of office space, as well as 11,928 square feet of auxiliary buildings. 

Amenities include up to 35-foot clear height, 97 loading doors with dock levelers and state-of-the-art infrastructure to manage high-volume inventory and fulfillment operations. The secured site has up to 350-foot truck courts, the ability to park 505 cars and 429 trailers, and the potential for future rail service.


Mike Davis
The CVS distribution center site is located at 8201 Chancellor Dr. in Orlando, Florida. 

It is minutes from the Florida Turnpike, Beach Line Expressway and Interstate 4, providing quick and easy access to the more than 860 CVS stores in the Florida market. 

Overall, CVS operates more than 9,900 retail locations in the U.S., District of Columbia and Puerto Rico.

Cushman & Wakefield Vice Chairman Mike Davis represented both PBV and the CVS building seller, Alegra Orlando LLC, in the transaction.

PBV purchased the CVS asset in a 1031 exchange following its disposition last month of a 526,320-square-foot industrial property in Winston-Salem, North Carolina. 

The North Carolina building, which was purchased by Griffin Capital Essential Asset REIT Inc. for $34.9 million, is fully occupied by Pepsi Bottling Ventures under a long-term, NNN lease.


CONTACT:

Stacey Hershauer
focusAZ 

P 480.600.0195