Friday, June 5, 2020

JLL arranges $10.1 million financing for Philadelphia-area industrial property



CONTACT:

Kimberly Steele
Senior Associate, Public Relations
JLL Capital Markets
9 Greenway Plaza, Suite 700
Houston, TX  77046
T +1 713 852 3420
M +1 832 244 9994


JLL closes sale of Chicago cold storage portfolio


 John Huguenard
CHICAGO, IL – JLL Capital Markets announcedit has closed the sale of a three-property cold storage portfolio totaling 712,051 square feet in high barrier-to-entry Chicago markets.

 JLL marketed the portfolio on behalf of the seller, Investcorp, a leading global provider and manager of alternative investments. 

Lineage Logistics, which is controlled and operated by Bay Grove, purchased the assets. 

 The portfolio comprises 2635 S. Western Ave. and 2658 S. Leavitt St. in Chicago; 8424 W. 47th St. in Lyons; and 1544-46 Hecht Dr. in Bartlett.

These facilities provide tenants with easy access to Chicago’s urban core population, and each location is known for its food-oriented user base and benefits not only from the region’s population base of 9.5 million but also for being one of the leading food production centers in the world.

Ed Halaburt 
The portfolio is 100 percent leased to 11 tenants and features clear heights ranging from 24 to 48 feet and ambient temperatures ranging from down to -10.

Additionally, it represents one of the few multi-property, multi-tenant cold storage transactions nationally.

 The JLL Industrial Capital Markets team representing the seller was led by Senior Managing Director John Huguenard and Senior Director Ed Halaburt along with Managing Director Sean Devaney and Senior Directors Kurt Sarbaugh and Robin Stolberg.

 “What is unique about this cold storage portfolio is that it is a multi-tenant portfolio with fewer than four years of average remaining lease term that was able to close in spite of uncertainty caused by the COVID-19 pandemic,” Halaburt said.

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


Kurt Sarbaugh 
 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.

About Investcorp

Investcorp is a leading global manager of alternative investments. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. 

The Firm continues to focus on generating value through a disciplined investment approach in six lines of business: private equity, real estate, absolute return investments, infrastructure, credit management and strategic capital.

As at December 31, 2019, the Investcorp Group had $31.1 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.


Robin Stolberg
Since its inception in 1982, Investcorp has made over 195 Private Equity deals in the US, Europe, the Middle East and North Africa region and Asia, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 800 commercial and residential real estate investments in the U.S. and Europe, for in excess of $61 billion in transaction value.

Investcorp employs approximately 450 people across its offices in New York, London, Bahrain, Abu Dhabi, Riyadh, Doha, Mumbai and Singapore. 

For further information, including our most recent periodic financial statements, which details our assets under management, please visit: investcorp.com and follow us @Investcorp on LinkedInTwitter and Instagram.


CONTACT:

Kimberly Steele
 JLL Senior Associate
 Public Relations
Phone: +1 713 852 3420

jll.com.
(bay-grove.com)

Ackerman Retail Bolsters Investment Sales Team with Addition of Experienced Broker KB Yabuku



 KB Yabuku 

ATLANTA, GA, June 5, 2020 – Strengthening its full-service brokerage team, Ackerman Retail, a division of Ackerman & Co., has added KB Yabuku as Vice President of Investment Sales to join Ackerman Retail Senior Vice President Sean Patrick’s investment sales team.

He will advise buyers and sellers in strategic retail investment opportunities throughout the Southeast U.S.

“KB brings deep relationships with investors, proven deal-making ability and extensive commercial real estate and banking expertise that will be crucial in helping us expand our investment sales services,” said Leo Wiener, President of Ackerman Retail.

Leo Wiener

 Added KB Yabuku, “I’m excited to join Ackerman Retail and look forward to using my transaction experience and relationships in the investment community to achieve great results for buyers and sellers of single-tenant and multi-tenant retail properties.”

 Prior to joining Ackerman Retail, KB focused on retail development and site selection as Southeast Managing Director for Hart Lyman Companies.

He also specialized in the sale of net-lease retail properties across the United States in his role as Associate Director at the Stan Johnson Company.

Sean Patrick
Yabuku formerly worked in the real estate group of BB&T as an underwriter for all property types and at the Staubach Company/JLL as an office tenant representation broker. 

A graduate of Georgia State University with a BBA in Real Estate and the University of Georgia’s Terry College of Business with an MBA in Finance, KB is also a graduate of the Urban Land Institute’s Center for Leadership program, Atlanta BeltLine Inc.’s inaugural Beltline University class and a member of  REGA (Real Estate Group of Atlanta). 

CONTACT:

Steve Webb
 swebb@ACKERMANCO.NET



JLL closes sale of fully leased Houston-area distribution center


Trent Agnew
HOUSTON, TX – JLL Capital Markets announces that it has closed the sale of Cedar Crossing Distribution Center, a 100-percent leased, single-tenant, 129,527-square-foot distribution facility in the Houston-area community of Baytown, Texas.

JLL marketed the property on behalf of the seller, Mountain West Industrial Properties and American National Insurance Company. High Street Logistics Properties purchased the asset.

Completed in 2009, Cedar Crossing Distribution Center is fully leased to Merih Cotton Corporation, a family owned and operated Houston-area cotton distributor that has been in business for upwards of 35 years.

The front-load building features a 24-foot clear height, 33 dock-high doors, one drive-up ramp and low office finish. Situated on 7.37 acres at 3710 Cedar Blvd., the property provides exceptional access to the Port of Houston’s two dedicated container terminals, Barbour’s Cut (5.6 miles) and Bayport Container Terminal (9.4 miles).

 Rusty Tamlyn
Cedar Crossing Distribution Center is also within the 15,000-acre Cedar Port Industrial Park, which is the largest master-planned, rail-served industrial park in North America. 

The JLL Industrial Capital Markets team that represented the seller was led by Managing Director Trent Agnew, Senior Managing Director Rusty Tamlyn, Director Charlie Strauss and Analyst Ethan Goldberg along with Senior Vice President Richard Quarles, who leased the building on behalf of the seller.

“The Southeast Industrial submarket lacks optionality for smaller tenants, as most development in the area is focused on big box buildings, so Cedar Crossing will always have significant interest from tenants that need to be near the Port of Houston,” Agnew said.

“We were extremely pleased with both the buyer and seller’s ability to execute this transaction during the COVID-19 pandemic.”

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

Charlie Strauss 

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. 

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, please visit jll.com.


Ethan Goldberg 

About Mountain West Industrial Properties

Mountain West Industrial Properties specializes in the development, ownership and operation of multi-tenant industrial real estate assets.

 The company takes an entrepreneurial, hands on approach with regards to its properties, user clients, and partners. 

Mountain West Industrial Properties prides itself on its focused and responsible oversight in its portfolio managements and investments, providing a superior service to tenants, users and investors.

 By specializing in flex and bulk distribution warehouse properties, the firm is afforded a deep understanding of the market while growing its expertise in the needs and requirements of its clients. 

Mountain West focuses its services in the industrial sector via three distinct strategies: acquisition, development and third-party management.
Richard Quarles


About American National Insurance Company

American National Insurance Company (American National), headquartered in Galveston, Texas, was founded in 1905 and is licensed in all states except New York. 

American National and its subsidiaries offer a broad line of products and services, which include life insurance, annuities, health insurance, credit insurance, pension products and property and casualty insurance for personal lines, agribusiness and certain commercial exposures. 

The family of companies operates in all 50 states. For more information, including company news and investor relations information, please visit the company’s web site at americannational.com.

Cedar Crossing Distribution Center, Baytown, TX

About High Street Logistics Company

High Street Logistics Properties was founded in Boston in 2002 by senior executives of one of the nation’s pre-eminent real estate development, investment and services companies. 


CONTACT:

 Kimberly Steele
 JLL Senior Associate
 Public Relations
Phone: +1 713 852 3420


Holiday Inn Express & Suites Miami-Kendall will resume full operation June 15, 2020 following temporary closure


Constantino Papadopulos

Miami, FL  The Holiday Inn Express & Suites Miami-Kendall will resume full operation and re-open to guests on June 15, 2020, following a temporary closure due to the business impact of COVID-19.

Constantino Papadopulos, General Manager, Holiday Inn Express & Suites Miami-Kendall said:

 We are excited to welcome our guests and colleagues back and are deeply appreciative of their understanding during the unprecedented COVID-19 global emergency.

"We are also grateful to local health authorities, medical personnel and frontline responders for their continued efforts to safeguard the health and wellbeing of our community and we will remain vigilant as we reopen our doors.” 



Cecilia Orbegozo

The health and well-being of guests, employees and the community will continue to serve as highest priority as the hotel resumes its operations.

In addition to continuing to follow the guidance of relevant health authorities, the hotel is maintaining enhanced cleaning and disinfection procedures:

  • The hotel utilizes IHG’s established Way of Clean program which includes deep cleaning with hospital-grade disinfectants in guest rooms and public spaces.

  • Guests may see hotel colleagues taking a variety of additional steps to protect health and safety such as maintaining social distancing; using personal protective equipment such as masks and gloves; conducting visible and more frequent deep cleaning of high touch surfaces in public areas; and implementing changes to our breakfast buffet ~ now offering to go option.

 Holiday Inn Express & Suites Miami-Kendall

  • The hotel is also providing increased access for guests to individual guest amenity cleaning kits; visible sanitizer stations in public spaces (including meeting rooms); and potential removal of in-room collateral or other high touch items.

For assistance in making a reservation, guests can contact the hotel directly at (786) 837-2100, or go to www.hiexpress.com/miamikendallfl or book through the IHG app.There are currently almost 2,700 Holiday Inn Express hotel locations around the globe. 

Find Holiday Inn Express hotels onTwitter https://twitter.com/HIExpress or Facebook http://www.facebook.com/holidayinnexpress.

CONTACT:

Cecilia Orbegozo, CHSP
Director, Sales & Marketing
(786) 837-2106