Rosedale Center Signs Leases with Shake Shack and Panera; Announces Several Recent Openings

 

Holly Rome 

 Roseville, MN, Mar. 16, 2022 -- Rosedale Center, a 1.3MM-square-foot shopping center located in the heart of the Twin Cities, announced today that it has signed Shake Shack to a 3,500-square-foot and Panera Bread to a 4,000-square-foot lease.

Shake Shack and Panera are scheduled to open Winter 2023 and will feature drive-thru service in addition to dining and patio seating.

 Lane Walsh

In addition to Shake Shack and Panera Bread, several new tenants have opened at Rosedale Center in recent months. Recent openings include:

• Arula, a new mid-and-plus-size women’s shopping concept by Altar’d State opened in December 2021.

• Sandbox VR, a futuristic Virtual Reality experience, opened a 13,000-square-foot location in December 2021

• Joey Meatballs, a fast casual Italian kitchen serving homemade pastas, sauces & meatballs, opened a restaurant in Potluck in November 2021.

Robin Sande

• Salad Slayer, a build-your-own salad & health food concept, opened a restaurant in Potluck in November 2021.

• B&E Sweets by Diane, a locally-owned and operated bakery, opened in Potluck in November 2021.

• PNC Bank, one of the largest diversified financial services institutions in the United States, opened their first Minnesota branch in November 2021.

Lisa Crain

• Caribou Coffee, a Minnesota-based American coffee company and coffeehouse chain, opened a location in August 2021.

• Aspen Dental, the largest group of branded dental offices in the world, is scheduled to open a 3,500- square-foot office in January 2022.

• Visionworks, a leading provider of eyewear and eye care services, is scheduled to open a 3,037-square-foot location in February 2022.

Rosedale Center, a 1.3 million SF shopping center,
Twin Cities, Minnesota

Future openings include:

• The Original Popcorn House and Nestle Toll House Café, handcrafted gourmet popcorn in over 50 flavors and partnered with many varieties of delicious cookies, ice cream and coffee, is scheduled to
open Winter 2022.

• Raising Cane’s, an American fast-food restaurant chain specializing in chicken fingers and its famous “Cane’s Sauce”, is scheduled to open in Summer 2022.

 “We are dedicated to enhancing Rosedale Center’s retail experience both inside and outside the center by adding new retail partners, local culinary entrepreneurs, and other amenities that complement its strong retail presence,” said Lisa Crain, Rosedale Center Vice President & General Manager.

 “Our leasing team is committed to finding the right tenants to serve our community.”

Rosedale Center, Twin Cities, Minnesota

The property leasing team, Holly Rome and Lane Walsh, JLL, and Robin Sande, Newmark, secured the tenants.

For more information on stores, events, and programs, please visit rosedalecenter.com.

 For more news, videos and research from JLL’s retail team, please visit www.jll.com.

 

 CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

Stos Partners continues expansion into Phoenix metro with acquisition of third industrial asset

 

SOLD: 28,520 SF industrial asset in Phoenix, AZ

 

 PHOENIX, AZ -– Stos Partners, one of the most active commercial real estate investment and management firms in Southern California, has expanded its presence in the Phoenix Metro area with the acquisition of a 28,520 square-foot industrial asset in Phoenix, Arizona.

CJ Stos

 The firm acquired the property through an off-market transaction in partnership with a high-net-worth family office, according to CJ Stos, Principal at Stos Partners.

 “As the Phoenix industrial market continues to see an influx of interest and capital from businesses and investors alike, we’ve been able to secure increasingly rare opportunities for strong value creation through drawing upon our broker network and leveraging our proven track record,” explains Stos.

 “We were able to approach this acquisition, our third in the Phoenix Metro area since entering the market just over a year ago, with an all-cash offer and facilitate a rapid close.”

Jay Boyle

The Phoenix industrial market set another record year in 2021, notes Jay Boyle, Executive Vice President at Stos Partners.

 “We are incredibly bullish when it comes to the Phoenix industrial market as net absorption, rental rates, and sales volume are all at historic highs and vacancies have tightened to an all-time low, sitting at 5.1 percent,” says Boyle.

 “Further, as demand for e-commerce and last-mile logistics flourish, we are actively looking to expand our portfolio and implement our proven value-add strategies—which we’ve optimized through experience in Southern California markets for several years—within key markets throughout the country.”

­

 Jason Richards

According to Jason Richards, Partner at Stos Partners, this asset presents the opportunity to bring rents up to market through the firm’s capital upgrade program.

 “The property currently has a short-term tenant in place, providing immediate cashflow,” says Richards. “Looking ahead, we plan to address deferred maintenance and implement strategic upgrades to the property, ultimately stabilizing and re-tenanting the asset.”

 Richards adds that the firm recently sold a 227,000 square-foot, single-tenant industrial property in the Phoenix Metro area submarket of Tolleson, Arizona, for $27.5 million, increasing the asset’s value by nearly 70% during a one-year hold. 

 David Wilson

The property, which was acquired for $4.45 million with a high-net-worth family office, is located at 2757 E. Chambers Street in Phoenix, Arizona.

 David Wilson and Carter Wilson at DAUM Commercial Real Estate Services represented Stos Partners as the buyer in the transaction.

 About Stos Partners

Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors. 

With a track record spanning approximately $1.4 billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through opportunistic acquisitions, strategic redevelopment and ground-up development of both institutional and small-to-mid-cap commercial properties.

 Carter Wilson

Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably. 

More information is available at www.stospartners.com.

 

CONTACTS:

Tess Hezlep / Katie Haga

The Smart Agency, Inc.

(949) 438-6262

thezlep@thesmartagency.com

Ware Malcomb Hires Luciana Arim as Director, Science and Technology in Pleasanton, CA Office

Luciana Arim

PLEASANTON, CA – Ware Malcomb, an award-winning international design firm, announced that Luciana Arim has been hired as Director, Science & Technology in the firm’s Pleasanton, California office.       

In this role, she is responsible for expanding the science & technology practice across Northern California.

Arim brings more than 22 years of experience in architecture and interior design to Ware Malcomb.        

Gary Drew

For her previous firm, she was the Science and Technology and Corporate Commercial market sectors’ leader, overseeing the Northwestern offices. 

She has led all phases of architecture and interiors projects, from inception to planning, programming and construction administration. 

She is a LEED Green Associate with strong sustainability knowledge, as well as design technology and LEAN management.

“Luciana is an experienced leader, both in California and abroad,” said Gary Drew, Regional Vice President for Ware Malcomb. “We’re pleased to welcome her and look forward to her contributions to advance Ware Malcomb’s Science & Technology practice across Northern California.”

Arim earned a BA in Architectural Design from Centro Universitario Belas Artes, São Paulo, Brazil. She is fluent in English, Portuguese, and Spanish.  

Contacts:

Rachel Reenders

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

Maria Rodgers, PR & Communications Manager, 949.660.9128, mrodgers@waremalcomb.com   

 Maureen Bissonnette, Principal, Marketing, 949.660.9128

 mbissonnette@waremalcomb.com        

waremalcomb.com

Galleria Edina retail center sold in Edina, MN

 

Amy Sands

MINNEAPOLIS, MN, March 14, 2022 – JLL Capital Markets has closed the sale of Galleria Edina, a 398,585-square-foot enclosed regional shopping center destination home to a collection of best-in-class retailers and unique dining options in the Minneapolis suburb of Edina, Minnesota.

Danny Finkle

JLL was the sole marketing advisor to the seller. 70th Street Properties LLC, a local investor group, acquired the asset.

 Galleria Edina is 99 percent leased to a meticulously curated collection of highly sought-after international brands, luxe boutique retailers and one-of-a-kind restaurants such as Louis Vuitton, Tiffany & Co., Lululemon, Peloton, Tory Burch, Pottery Barn, Bluemercury, Warby Parker, Coach, Filson, Shinola, Sundance, Rypen, Rejuvenation, David Yurman and more.

The Galleria has experienced strong leasing momentum since the first quarter of 2020, with more than 170,000 square feet of new leasing signed.

Barry Brown

Positioned at 3510 West 69th St., Galleria Edina is in Edina, one of Minnesota’s fastest growing and affluent communities.

The property is within a thriving submarket that is home to a nationally recognized healthcare campus, 33 million square feet of office space, a top hotel and numerous new multi-housing developments.

Additionally, the asset is surrounded by a highly educated population and in one of the highest net-worth zip codes.

 The JLL Retail team representing the seller was led by Senior Managing Directors and Co-Heads of U.S. Retail Capital Markets Danny Finkle and Barry Brown; Senior Managing Director Dave Monahan; Managing Director Amy Sands; and Senior Directors Cameron Pittman, Matt Hazelton and Cory Villaume.

Dave Monahan

 “Galleria Edina is one of the premier retail assets in the Midwest and has an expansive trade area as a result of being the sole location for many of the tenants in the Midwest region,” Finkle said.

“This is the essence of a generational asset within a remarkable market with unlimited growth opportunities ahead.”

 Park State Bank led the financing of the Galleria. Park State Bank was named the Top-Performing Community Bank in Minnesota with assets under $3B by S&P Global Market Intelligence the last four years (2017, 2018, 2019 and 2020).

Cameron Pittman

 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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

 

 Contact:

Kimberly Steele

JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Lee & Associates Grows Northern California Presence with San Francisco, CA Expansion

Jeff Moeller

SAN FRANCISCO, CA – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announces the opening of a San Francisco location.

 The office will specialize in office landlord agency, bio/life science tenant representation, and NNN sales, with plans to strategically recruit teams to grow their multifamily capabilities in the San Francisco and surrounding markets. 

Jeffrey Rinkov

The Lee & Associates San Francisco team will be led by Jeff Moeller, a 24-year commercial real estate veteran.

 "Our expansion approach into the San Francisco market was solely reliant on finding the right professionals," said Lee & Associates CEO, Jeffrey Rinkov.

 "Moeller represents exactly the entrepreneurial and client-focused individual that Lee & Associates embodies," 

 

Contact:

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

Please visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.

 

JLL Capital Markets arranges $22 million sale-leaseback and $14.5 million acquisition financing of a warehouse and office building in Medway, MA

  

Martha Nay

BOSTON, NA – JLL Capital Markets has closed the $21.7 million sale-leaseback and arranged $14.5 million in acquisition financing for a 120,000-square-foot industrial warehouse and office building at 10 Trotter Dr. in the Boston-area community of Medway, Massachusetts. 

 JLL marketed the property on behalf of the seller, Spencer Technologies, Inc.

 Lincoln Property Company acquired the asset and entered into a long-term lease with the seller for them to continue to occupy the property. Additionally, working on behalf of the new owner, JLL placed the acquisition loan with HarborOne Bank.

Amy Lousararian

Built in 1983, 10 Trotter Dr. is situated on nine acres with 85,000 square feet of warehouse and 35,000 square feet of newly renovated office space.

The building offers clear heights ranging from 17 to 21 feet, three tailboard docks, one ramped door, one drive-in door and ample parking.

Coler Yoakam

The property is fully occupied by the seller, a global IT solution and services company founded in 1972 that uses the property as its global headquarters.

 The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Director Coler Yoakam, Senior Directors Michael Restivo and Martha Nay and Director Lenny Pierce, along with Managing Director Sean Lynch with JLL’s Agency Leasing team.

 “This was a great opportunity for Spencer Technologies to take advantage of the sharp increase in industrial asset prices and capitalize on a sale-leaseback transaction to help free up capital and invest back into the business,” Restivo said.

 The JLL Capital Markets Debt Advisory team working on behalf of the new owner was led by Director Amy Lousararian.

Michael Restivo

“The transaction’s tenancy, location and sponsorship were well received by the local lending community, and we are very pleased with the execution by HarborOne in this competitive process,” Lousararian added.

About Spencer Technologies, Inc

Spencer is a global IT solution provider servicing the retail marketplace. Founded in 1972, Spencer has grown to provide its retail clients holistic life cycle services and solutions from it’s from its world headquarters in Medway, Massachusetts. 

 About Lincoln Property Company

Lincoln Property Company is an international real estate firm offering a comprehensive suite of value-added services for their clients.

 Lenny Pierce

About JLL

With its substantial local presence in each of the markets Lincoln serves, the firm ideally situates their offices to clientele: tenants, investors, lenders, and owners of real estate. 

Their people and philosophy are the key ingredients for Lincoln’s solid track record of success.

 

JLL has over 215 dedicated multi-housing professionals in more than 30 markets across the U.S.

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

Sean Lynch

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 our newsroom.

Contact:

 Kimberly Steele,

JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

$60 million in financing secured by JLL Capital Markets for 282-unit multi-housing development in Miami, FL

 

Melissa Rose 

MIAMI, FL, Mar. 11, 2022 – JLL Capital Markets has arranged $60 million in construction financing for The Kavista, a 282-unit, eight-story multi-housing development located in the El Portal neighborhood of Miami, Florida.

JLL worked on behalf of the borrower, Barrington Brothers LLC, to secure the 2.5-year construction loan through Trez Capital.

 The JLL Capital Markets Debt Advisory Team representing the borrower was led by Managing Director Melissa Rose and Director Michael DiCosimo.

Michael DiCosimo

“It was a pleasure to arrange this financing for a sophisticated local developer seeking to deliver a true community-oriented product in one of Miami’s oldest neighborhoods,” said Rose.

“Ben Jacobson at Trez Capital provided seamless execution for Barrington Brothers.”

 Located at 495 N.E. 83rd St., The Kavista is conveniently situated between Miami Shores and Little River in the Village of El Portal.

The Kavista will feature one-, two- and three-bedroom units with refined finishes and community amenities, including a resort-quality pool and deck, barbeque grilling area with outdoor seating, co-working lounge, theater, fitness center and electric vehicle charging stations.

Ben Jacobson

The project’s architectural and landscaping design is contextual, drawing from El Portal's historic Sherwood Forest and bird sanctuary.

Barrington Brothers worked diligently with the Village of El Portal to increase density and height limits, priming El Portal for the continued development of high-quality housing.

 The borrower’s expertise in this area is proven, having developed and stabilized three multi-housing communities totaling 190 units directly across the street from The Kavista.

 The Kavista is within a five-minute walk of numerous community amenities, including grocers, health clubs and Biscayne Medical.

 Located at 495 Northeast 83rd Street,
the 282-unit, eight-story Kavista
 is situated between Miami Shores
and Little River in the
Village of El Portal

The property is also proximate to major thoroughfares, leveraging access to Biscayne Boulevard, SR-934 and I-95 to connect residents to over 60 million square feet of office and commercial space in the greater Miami area.

 The immediate area also benefits from recreation centers and parks. Additionally, The Citadel, featuring 15 restaurants, a rooftop bar and walkable retail frontage, totaling 62,000 square feet of active commercial uses, is within close distance to the property.

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

Contact:

Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

JLL Capital Markets expands multi-housing team in San Francisco

Charles Halladay

 

 SAN FRANCISCO, CA – JLL Capital Markets announced that Ryan Wagner, Matt Kroger and Brandon Geraldo have joined the firm’s San Francisco office as Senior Managing Directors, focusing on multi-housing investment advisory transactions in the San Francisco Bay Area, Northern California and Northern Nevada.

Rob Hielscher

The new team joins JLL at a time where there is a growing demand for multi-housing assets within the Bay Area.

According to JLL Research, the region continues to be a dynamic employment market with major growth industries, including big technology, financial services, life sciences and healthcare.

That, combined with the region remaining a top destination for new graduates, has led to an expanding renter pool and supply deficit.

 The team will report to Senior Managing Directors Charles Halladay and Rob Hielscher.

 “We continue to pursue best in class individuals to grow our multi-housing business across the country,” said Halladay.

Ryan Wagner

“We are thrilled to have Ryan, Matt and Brandon lead our multi-housing business in San Francisco and provide unparalleled service and product to our clients.”

 Wagner, Kroger and Geraldo have a combined 47 years of commercial real estate experience that includes the acquisition and disposition of multi-housing assets and development sites throughout the San Francisco Bay Area, Northern California and Northern Nevada.

They were all previously executive vice presidents with another leading commercial real estate firm in San Francisco.

Matt Kroger 

In their new roles, they will oversee JLL’s multi-housing investment advisory business throughout the region, including institutional, middle-market and private-capital transactions.

 Wagner, Kroger and Geraldo have executed dispositions throughout the greater Bay Area with a combined aggregate dollar amount of over $4.8 billion dollars, representing over 9,500 units of existing multi-housing assets, nearly 20,000 units of development site sales and nearly 10 million square feet of commercial asset and development site sales.

Brandon Geraldo 

“We are extremely excited to join the JLL platform and confident that it will amplify our efforts to provide market-leading advisory services to our regional and national clients.” said Wagner.

"The connectivity of service lines and business verticals within JLL is unmatched in the industry, and we are honored to join such an exceptional company.”

 JLL has over 215 dedicated multi-housing professionals in more than 30 markets across the U.S.

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

Contact:

Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

BCLP Gets Boost with Addition of Transactional Real Estate Partner Heidi J. Azulay in Chicago

 

Heidi J. Azula

Chicago, IL – International law firm Bryan Cave Leighton Paisner (BCLP) announced that Heidi J. Azulay has joined the firm as a partner in the Chicago office. Azulay joins from DLA Piper.

Frequently recognized in national and regional legal rankings, Azulay concentrates her well-regarded practice on transactional real estate, finance law and proptech. She previously served as U.S. co-leader of DLA Piper’s global proptech practice.

 Andrew Auerbach

“We are happy to welcome Heidi to BCLP, where her extensive experience across the real estate sector will quickly enhance BCLP’s global offerings,” said Andrew Auerbach, regional practice group leader for the Real Estate Practice.

“As we continue to build our Real Estate Practice across our global platform, Heidi’s diverse skillset and deep experience in the sector will enhance our practice.”

 

Contacts:

 Brian Kiefer

312-602-5121 brian.kiefer@bclplaw.com

Leslie Leader Brooks

312-602-5187 leslie.brooks@bclplaw.com