JLL closes $200 million sale of the Gas Company tower, a 1.3 million SF downtown Los Angeles trophy office asset purchased by Los Angeles County

 

The Gas Company Tower, a 1.3 million-square-foot trophy
office asset standing at 555 West Fifth Street
in the heart of downtown Los Angeles, CA 

Jeffrey Bramson

LOS ANGELES, CA –  JLL Capital Markets has completed the $200 million sale of The Gas Company Tower, a 1.3 million-square-foot, iconic trophy office tower located in the heart of downtown Los Angeles (DTLA), California.

JLL marketed the asset on behalf of their client for a CMBS trust that previously held the mortgage. Los Angeles County emerged as the buyer after a comprehensive marketing process, which generated offers from various investors, including users, institutions and private buyers.

 

The Gas Company Tower is located at 555 W Fifth St. in the highly sought after Bunker Hill submarket of Los Angeles. 

Sean Ryan

The 1.39-acre site is surrounded by distinguished office buildings and offers walkable access to a wide array of dining, entertainment and cultural destinations. Additionally, 

The Gas Company Tower boasts a Transit Score® of 100, given its location just one block from the Pershing Square Metro station providing public transit to the greater Los Angeles market.

 

Designed by the world-renowned architect Skidmore, Owings and Merrill, the Gas Company Tower is a trophy quality building standing 54 stories tall. Most recently renovated in 2018, the LEED Gold-certified tower offers efficient 27,000-square-foot floorplates, an open modern lobby and a five-level underground parking garage. 

Tom Hall

The Gas Company Tower is 53% occupied to a diverse mix of predominately credit tenants, including Southern California Gas Company, Deloitte, B. Riley, Knoll, Arent Fox LLP and Latham & Walkins LLP.

 

JLL’s Capital Markets Investment Sales and Advisory team representing the client was led by Senior Managing Directors Jeffrey Bramson, Sean Ryan and Tom Hall, Managing Director Andrew Harper and Director Will Poulsen.

“The Gas Company Tower presented a tremendous opportunity to purchase a top asset in DTLA at pricing not seen in nearly 20 years,” said Bramson. “This transaction represents an important milestone in the DTLA office market as we are witnessing a reset of the market and anticipate increased transaction activity and pricing stability in 2025.”

Andrew Harper

“The Los Angeles market continues to see significant interest from users and tenants seeking to purchase buildings for their own use. These buyers see good relative value given the recent reset in office building valuations,” added Harper.

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’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 group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Will Poulsen

 

For more news, videos and research resources, please visit JLL’s newsroom. 

  

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.          

 

CONTACT:  

 Grace Lewis

PR, Capital Markets

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

 

Native Realty New Hires Logan Newell and Kaia Pipkin bolster South Florida brokerage staff

Kaia Pipkin

 FORT LAUDERDALE, FL,  Dec. 12, 2024 – Native Realty, the pioneering Fort Lauderdale-based real estate firm led by Jaime Sturgis, advanced its personnel growth objectives with two new additions. Industry veteran Logan Newell joined Native as Senior Associate, and Kaia Pipkin is the firm’s newest Commercial Sales Associate.

Logan Newell

Newell has more than two decades of diverse commercial real estate experience, both as a top-producing broker and as an investor earlier in his career. As a commercial real estate investment advisor, Newell specializes in multifamily, land, industrial and retail/food-and-beverage property sales. He has placed more than $300 million in sales under contract in the last 12 months alone.

 

Jaime Sturgis

Before transitioning into brokerage nearly a decade ago, Newell was part of PIA Investment Advisors. The real estate private equity group acquired more than 6,000 single-family rental units, with Newell accounting for most of the acquisitions. He is well-deserved in the acquisition and turnaround of distressed real estate assets.

Pipkin returns to Native after interning at the firm. The Boise State University graduate will work closely with Native’s investment sales brokers to accommodate the increased demand for their expertise.

 

 

 

CONTACT:  

 

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

Web | Facebook | Instagram | LinkedIn

 

www.nativerealty.com.

JLL Capital Markets arranges acquisition financing for 1500 High Meadows Way, a 7.54-acre industrial outdoor storage property in Cedar Hill, TX, southwest of Dallas

 

Kristi Leonard

CW Sheehan

AUSTIN, TX,  Dec. 12, 2024 –  JLL Capital Markets has arranged the acquisition financing for 1500 High Meadows Way, a 7.54-acre industrial outdoor storage facility in Cedar Hill, Texas.

JLL worked on behalf of the borrower, Apricus Realty Capital, to secure the five-year, fixed-rate loan.

The site, built in 2015, features a 15,023-square-foot industrial service building, which includes a 3,000-square-foot office space and an expansive graveled storage lot. 

Peyton
Ackerman

The facility is fully leased on a new seven-year, sale-leaseback agreement with one of the nation’s largest providers of mission-critical traffic management services and equipment.

 

Located just 16 miles southwest of Dallas, the property sits on 7.54 acres in the rapidly growing Cedar Hill industrial submarket. The area benefits from its proximity to major transportation routes, including Highway 67, facilitating convenient access to the greater Dallas-Fort Worth market.

The JLL Debt Advisory team was led by Senior Director CW Sheehan, Director Kristi Leonard and Analysts Peyton Ackerman and Nate Henderson.

Nate Henderson.

"We're pleased to have helped Apricus Realty Capital secure favorable financing terms as they continue to expand their IOS portfolio across Texas," Sheehan said. "The property's strategic location, coupled with the long-term lease to a quality tenant, made this an attractive investment opportunity."

 CONTACT:

 Grace Lewis,

 JLL PR

Phone: +1 903 520 3478  

Email: grace.lewis@jll.com

JLL Capital Markets brokers sale of premier grocery-anchored retail destination, Bar W Marketplace, in the rapidly growing Austin suburb of Leander, TX

  

Erin Lazarus

DALLAS, TX –  JLL Capital Markets has secured the sale of Bar W Marketplace, a premier 189,507-square-foot H-E-B grocery-anchored retail center in Leander, Texas. The price was not disclosed.

Bar W Marketplace, 19348 Ronald Reagan Boulevard, Leander, TX

JLL represented the seller, a partnership led by Barshop & Oles Company. The purchaser was AEW Capital Management. JLL also represented the purchaser to arrange acquisition financing. Manulife Real Estate Finance prevailed in a highly competitive process to provide low leverage fixed rate financing to AEW.

Barry Brown 

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Barry Brown and Chris Gerard and Director Erin Lazarus. JLL’s Debt Advisory team was spearheaded by Senior Managing Director Doug Opalka and Director Jackson Finch.

 "Bar W Marketplace’s sale underscores the strong investor demand for strategically located, core grocery-anchored retail shopping centers," stated Brown. "As Leander continues its transformative growth, we anticipate Bar W Marketplace thriving within this expanding trade area."

Chris Gerard

Bar W Marketplace, located at 19348 Ronald Reagan Boulevard., is strategically positioned at the southeast corner of Ronald Reagan Blvd. and SH-29 in Williamson County.

 

Leander, located in the bustling North Austin area, is recognized as the 4th fastest-growing city in the U.S. with a population over 50,000 between July of 2022 and 2023. 

This vibrant suburb offers an attractive blend of natural beauty and rapid development, fueled by significant population and household growth. The area boasts a consumer spending power of $4.3 billion within a five-mile radius, underpinned by a remarkable 369% increase in households since 2010. 

Doug Opalka

Bar W Marketplace is a dynamic, 100% leased community retail center anchored by the renowned H-E-B grocery store. 

Built between 2022 and 2024, the property features five ground-leased pads and a diverse mix of national and regional tenants, including Chase Bank, Wells Fargo, Whataburger, Chili’s, Torchy’s Tacos and 7Brew Coffee.

 Attracting approximately 2 million visits annually, this bustling shopping destination boasts a strong tenant lineup that contributes significantly to the vibrant commercial landscape of Leander.

Jackson Finch

For more news, videos and research resources, please visit JLL’s newsroom. 

 

Contact:     Gréta Kieras,  Senior Associate, Public Relations Phone: +1 949 930 8498   Email: greta.kieras@jll.com

CA  RE license # 02111877

www.barshop-oles.com. www.aew.com.

 

 

 

 

  

Brad Moeller

Project Management Advisors, Inc. Expands Multifamily Leadership with Student Housing Specialist Brad Moeller

 

Chicago, IL –– Project Management Advisors, Inc. (PMA), a leading provider of development management, project management and owners’ representative services, is proud to announce the addition of Brad Moeller to their team as Vice President.

 

Based in the firm’s Chicago office, Moeller will spearhead PMA’s student housing development and project management practice and leverage his extensive background in the vertical to deliver innovative, high-quality student housing projects on behalf of PMA’s clients.

 

Moeller brings more than two decades of expertise in real estate development, design, and construction with a proven track record in student housing, multifamily, and mixed-use projects.

 

 During his previous tenure at student housing leader CA Ventures, Moeller led the delivery of more than 80 student housing properties in more than 50 top-tier university markets, totaling over $4 billion in development, including over 13,000 units and 34,000 beds.

 

More recently, Brad served as Executive Vice President of Development & Construction at Akara Partners, where he oversaw a development pipeline exceeding $400 million and played a pivotal role in expanding the firm’s flagship business and entry into the student housing market.

Omar Rihani

“Brad's expertise in student housing and multifamily development and his deep understanding of the unique demands of this market make him an invaluable addition to our team," said Omar Rihani, Executive Vice President & National Residential Sector Lead. “With developers and universities nationwide striving to meet the demand for housing, they need a partner who understands the nuances of the sector.”

  

Moeller holds dual master’s degrees in Architecture and Business Administration from the University of Illinois at Urbana-Champaign and a Bachelor of Arts in Architecture from Miami University. He is also a licensed architect in Illinois and actively serves on the Board of Directors for Landmarks Illinois.

 

 

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.”

pmainc.com.

 

 

Hold-Thyssen Brings New Medical-Oriented Tenant to Tampa’s Plaza at Westchase Commons for Expansion

  

 Dr. Dana McGrady

 Clearwater, FL --- Hold-Thyssen, Inc., a full-service commercial property firm based  in Clearwater and Winter Park, recently completed a new multi-year lease agreement at Plaza at Westchase Commons, 13123 W Linebaugh Ave. just east of Race Track Road in the Westchase area of Tampa.

 

The new tenant is Dr. Dana McGrady, an established Doctor of Oriental Medicine (DOM) specializing in a holistic approach to wellness.  The practice has doubled the size of its clinic with the new location to enhance and expand services to current and new patients.

 Theresa Margaris

Transaction Specialist Theresa Margaris at Hold-Thyssen’s Clearwater office brokered the transaction representing the tenant and the Tampa-based landlord of the professional office park MJP Family, LLC.   

 

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than 100 commercial properties throughout the United States. 

 

Contacts: 

 

Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, Inc.

727-238-3876

 rfisher@HoldThyssen.com

 

Robert P. Hold, Principal, Hold-Thyssen, Inc.

407-691-0505,

 bhold@HoldThyssen.com

 

Beth Payan, Larry Vershel Communications Inc.

407-461-3781 

beth@larryvershel.com