NewMark Merrill South Acquires Land in Vista, CA for Multi-Tenant Restaurant Development

Sandra Kist

San Diego. CA – NewMark Merrill South, LLC, the San Diego based retail shopping center owner and development company and subsidiary of NewMark Merrill Companies, Inc., has acquired a 1.4-acre site located at the corner of South Melrose Drive and Faraday Avenue in Vista, California.  

NewMark Merrill South currently owns and/or manages a portfolio of more than 30 retail centers in San Diego County.

Barret Bradley

NewMark Merrill will begin construction on Melrose Landing in the third quarter 2022 for the two-restaurant site development

The company has already secured leases with Dutch Bros. Coffee and Wendy’s to occupy the entire site. Completion of the buildings is scheduled for Summer 2023.

 

“Melrose Landing is a new ground-up development by NewMark Merrill South,” commented  Bradley, Vice President of Acquisitions and Development in San Diego. 

“We are excited at the opportunity to bring these two great operators to the Vista community and look forward to pursuing additional opportunities like this in and around the San Diego area.”

John Hickman

On the land acquisition, financing, and leasing transaction, NewMark Merrill’s team was represented by John Hickman, Managing Director, San Diego; Barret Bradley, Vice President of Acquisitions and Development and Sandra Kist, Chief Financial Officer.

Travis Fidel

Additionally, Travis Fidel and Kevin Marusiak of Radar Capital arranged the financing. Jon Walters of Kidder Matthews represented the seller. Kevin Barry of Irish Commercial represented Wendy’s with Andrew Peterson of SRS representing Dutch Bros Coffee.

 

“NewMark Merrill was able to source the land, gain full city entitlements for two new-construction drive-thru buildings, lease the property and arrange for attractive project financing, all prior to close of escrow,” stated Hickman.

 

 “The project will bring one of the first Dutch Bros. Coffee locations to open in San Diego County, and with Wendy’s will provide much-needed food and beverage options to the Vista/Carlsbad business park, a bustling and rapidly expanding center of commerce and employment in North County San Diego.” 

Jon Walters

About NewMark Merrill Companies

NewMark Merrill Companies, Inc. owns and/or manages a portfolio of over 95 shopping centers valued at more than $2.5 billion.

 

Since 1987, President and Chief Executive Officer Sandy Sigal has led the company of shopping centers representing over 2,000 tenants and 11 million square feet in California, Colorado and Illinois.

 

The Company has founded and invested heavily in BrightStreet Ventures, its technology company, which is working on leading edge solutions for landlords and tenants to succeed in today’s retail environment.

 

Andrew Peterson 

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 $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022.

 

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

 

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.”

 

NewMarkMerrill.com

 

Jaime Sturgis Brokers $10 Million Off-Market Sale of Flagler Village Office Building in Fort Lauderdale, FL

Jaime Sturgis

FORT LAUDERDALE, FL –– Jaime Sturgis, the CEO of industry disruptor and neighborhood placemaker Native Realty, just closed his second big off-market Fort Lauderdale investment sales transaction in the past week.

On July 20, Sturgis represented both sides of the $10 million sale of a Flagler Village office building.

707 NE Third Avenue, Fort Lauderdale, FL
includes an 18,251-square-foot office building,
 adjacent 6,520-square-foot warehouse
and surface parking lot

The new closing immediately follows a $17.5 million off-market industrial transaction Sturgis brokered in Fort Lauderdale’s Studio City neighborhood on July 15. 

In the Flagler Village deal, Charlotte-based real estate investment company Asana Partners purchased the 707 NE Third Ave. property, which includes an 18,251-square-foot office building, adjacent 6,520-square-foot warehouse and surface parking lot. Telecom Building Corp. is the seller.

 “With two off-market closings totaling $27.5 million, the past week has been a showcase for Native’s creative dealmaking abilities,” Sturgis said.

 Contact: 

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.nativerealty.com.

JLL Capital Markets secures $60 million in financing for 168-unit downtown Chicago multi-housing development

 

Mary Dooley

CHICAGO, IL – JLL Capital Markets has arranged the $59.8 million construction financing for 741 North Wells, a shovel-ready, 21-story, 168-unit, Class A multi-housing project with 3,580 square feet of retail in downtown Chicago.

  PLANNED: 21-story, 168-unit, Class A multi-housing project with 3,580 square feet of retail in downtown Chicago.

JLL represented the borrower, Vista Property, to secure the four-year, floating-rate construction loan through Huntington National Bank.

 

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Christopher Knight and Director Mary Dooley, along with Associate Medina Spiodic.

Medina Spiodic

“This project, which has been meticulously and thoughtfully designed by Vista, will be a wonderful addition to the vibrant River North community,” said Knight.

 

“The terrific response from the capital markets is also a testament to the strong multifamily fundamentals in Chicago.” 

Christopher Knight

With an anticipated completion of the first quarter of 2024, 741 North Wells will feature spacious units with an average size of 740 square feet.

 

741 North Wells St. is positioned on the east side of North Wells Street immediately south of the Chicago Avenue intersection.

 

 Both Chicago Avenue and Wells Street are arterial thoroughfares, providing convenient east/west and north/south access.

 

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

  

CONTACT:

 

Jenna Sharp, JLL Associate, Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

International law firm signs 24,567 SF office lease at iconic filming destination in the Arts District of Los Angeles, CA

                                  Nicole Mihalka

LOS ANGELES, CA – JLL announced Gunderson Dettmer, an international law firm with an exclusive focus on the innovation economy, has signed a 24,567-square-foot lease for the entire two-story building at 635 Mateo in the Arts District of downtown Los Angeles.  

Two-story building, fully leased,
at 635 Mateo in the Arts District
 of downtown Los Angeles, CA

The property was built in 1929 to serve as the headquarters for Hills Brothers Coffee, later becoming the corporate offices of the Southwestern Bag Company, who transformed the location into a major filming location for movies and television shows including Beverly Hills Cop, Ferris Bueller’s Day Off and It’s Always Sunny in Philadelphia.

                                 Dana Vargas

Gunderson Dettmer will use the space for its Los Angeles headquarters office. 

JLL’s Nicole Mihalka, Dana Vargas and Caitlyn Ross represented the landlord, Mateo Street Properties, Inc., and Gunderson Dettmer was represented by Richard Abbitt and Ryan Shuler of Industry Partners.

                              Caitlyn Ross

"We have seen a trend of more traditional companies like law firms, financial services companies and real estate businesses leaving high-rise office environments for unique freestanding buildings,” said Mihalka, Managing Director at JLL.

“This building provides Gunderson Dettmer with a striking destination for its brand, employees and clients in Los Angeles.”

                    Ryan Shuler

True to the style of the 1920s, 635 Mateo’s simple, industrial framework was outfitted with exposed brick, dramatic arched windows and Art Deco tile façade.

                Richard Abbitt

The campus-like property features a rooftop deck, sawtooth skylights, new building systems and dedicated parking lot.

 

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.”

 jll.com

 

$94 million financing arranged for San Francisco-area multi-housing development in Pleasant Hill, CA

Tatiana Hodapp

SAN FRANCISCO, July 21, 2022 – JLL Capital Markets announced today that it has arranged $94.3 million in construction financing for a 189-unit, four-story, Class A multi-housing development located in downtown Pleasant Hill, California.

JLL worked on behalf of the borrower, Gemdale USA, to secure the senior financing through Bank OZK and the mezzanine financing through AvalonBay Communities.

 

Brandon Roth

Situated at 85 Cleaveland Rd., the property is located in downtown Pleasant Hill and is adjacent to 350,000 square feet of retail stores, restaurants and a movie theater. 

Once complete, the project will offer a first-class amenity package, including a fully equipped fitness center, communal lounges, state-of-the-art clubroom, an outdoor courtyard with lounge seating, an amenitized rooftop and pool deck, co-working lounge and outdoor meeting rooms, fireplaces and a resort-style feel.

 The JLL Capital Markets Debt and Equity Advisory team representing the borrower was led by Brandon Roth, Nicco Lupo, Jordan Angel and Tatiana Hodapp.

 

Nicco Lupo

“This is a remarkable development site,” said Roth. “Gemdale is replacing an obsolete office building that sat vacant for years with 189 units of high-quality housing that is desperately needed in this area.  

"Given the lack of developable sites, the community in downtown Pleasant Hill hasn’t benefitted from new apartments in over 30 years.”

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

Jordan Angel

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales 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: 

Jenna Sharp, JLL Associate, Public Relations

Phone: +1 214 394 3356

Email: Jenna.Sharp@am.jll.com

  www.ozk.com.

 

Publicly traded media company signs 34,000 SF office lease at former Urban Outfitters building in Hollywood, CA

 

                                   Nicole Mihalka

 LOS ANGELES, CA, July 19, 2022 – JLL announced today that OUTFRONT Media (NYSE:OUT), one of the largest out-of-home media (OOH) companies in the U.S., has signed a 34,000-square-foot lease for the entire building that Urban Outfitters and Umami Burger recently vacated at 1520 N. Cahuenga Boulevard in Hollywood, California. 

  OUTFRONT Media will use the space for its Los Angeles headquarters office.

                           Caitlyn Ross

JLL’s Nicole Mihalka, Carl Muhlstein and Caitlyn Ross represented the landlord, a joint venture between Artisan Ventures and Walton Street Capital. OUTFRONT Media was represented by Steve Eyler of Cresa.

"We are seeing continued demand for freestanding campus environments, including the adaptive reuse of retail and industrial buildings into office spaces where creative tenants can build a culture, brand and vibe,” said Mihalka, JLL Managing Director.

 “With excellent visibility and ample outdoor space to work and entertain, this is the perfect location for a dynamic tenant in Hollywood’s vibrant Vinyl District.”

 Carl Muhlstein

1520 N. Cahuenga Boulevard is an iconic, free-standing campus complex that features exclusive outdoor meeting/work space, commercial kitchen, exposed bow-truss ceilings, multiple skylights and high ceilings. 

 The property is located in the heart of Hollywood in the Vinyl District, one of the hottest neighborhoods in the country, adjacent to top eateries and hospitality destinations including Grandmaster Recording, Mother Wolf, Dream Hotel, and the Thompson and Tommie Hotels. 

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.”

 

Ware Malcomb hires Jason Jordan to manage new Columbus, OH office

Jason Jordan 

 

Columbus, OH – Ware Malcomb, an award-winning international design firm, announced the opening of its newest office in Columbus, Ohio.

 The office, located at 875 North High Street, Columbus, Ohio, is the firm’s third in the Midwest and will support Ware Malcomb’s growing client and project base in the region.

 In addition, the firm announced that Jason Jordan has joined as Regional Manager to lead the new Columbus office. Jordan will be responsible for the overall growth and management of the firm’s operations in Ohio. 

Cameron Trefry

“Ware Malcomb has been very active in the Midwest for close to 20 years and has proudly worked on more than 150 projects in Ohio,” said Cameron Trefry, Principal, Ware Malcomb. “Columbus leads the Midwest as the most popular city for millennials and boasts booming industrial and multifamily markets that continue to grow.

"With this expansion, we rise to meet demand in the area, and are proud to call ourselves a member of the Columbus community.” 

“We are excited to have Jason join our team and lead the new office in Columbus,” said Ken Wink, CEO of Ware Malcomb. “His extensive client and project management success combined with his architectural expertise make him the ideal person to lead the office in a fast-paced market.” 

Ken Wink

Prior to Ware Malcomb, Jordan led the residential design studio at a design firm in Columbus.

 His background includes a wide variety of projects from multifamily housing to high-rise mixed-use development.

He holds a BFA in Architecture from Miami University and a Master of Architecture from Boston Architectural College.

 

Contacts:

 

Rachel Devany

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 

http://waremalcomb.com/news 

youtube.com/waremalcomb

 

Armada Hoffler announces addition of Dennis Gartman, publisher of The Gartman Letter, to company's board

 

 Dennis Gartman
 

VIRGINIA BEACH, VA — Armada Hoffler (NYSE: AHH) is pleased to announce that Dennis Gartman – renowned investor, economist, and longtime publisher of “The Gartman Letter” – has joined the Company’s Board of Directors. He will be the sixth independent member of the Board.

 “We are thrilled to welcome Dennis Gartman to our Board,” said Lou Haddad, President and CEO of Armada Hoffler. “Dennis’ unique perspective and years of experience in the capital markets will be invaluable resources for the Company.”

 

In addition to publishing the widely read “The Gartman Letter” for over 30 years, Gartman is a regular contributor to several financial media outlets and speaks before various associations and trade groups around the world.

 

Gartman was an economist for Cotton, Inc., where he analyzed supply and demand in the U.S. textile industry. He later moved to NCNB National Bank in Charlotte, North Carolina, where he traded foreign exchange and money market instruments.

Lou Haddad

Subsequently, Gartman became the Chief Financial Futures analyst for A.G. Becker & Company in Chicago, Illinois, and acted as an independent member of the Chicago Board of Trade.

 

Later, Gartman led the futures brokerage operation at Sovran Bank. Beginning in 1987, he began publishing “The Gartman Letter” which ran continuously through 2019.

 

From 2006-2008, he served as an outside Director of the Kansas City Board of Trade. Gartman currently chairs the Investment Committee at the University of Akron and serves on a similar committee at North Carolina State University.

  

Contact:

 

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 

ArmadaHoffler.com.