Monday, September 9, 2019

JLL sells fully occupied industrial building in Tempe, AZ for $16.20 million

Distribution facility, Tempe, AZ

PHOENIX, AZ, Sept. 9, 2019 – Demand for last-mile facilities has garnered the Phoenix office of JLL a $16.20 million sale price ($127 price-per-square-foot) for a Tempe, Arizona infill industrial building that is fully leased by the world’s largest express transportation company.

Tivon Moffitt 
JLL Senior Vice Presidents Tivon Moffitt and Peter Bauman, and Executive Vice President Steve Larsen, represented the building seller, MRM Tempe LLC. The buyer was an out-of-state partnership involved in a 1031 exchange.

Located at 8210 S. Hardy Dr. – less than one mile east of Interstate 10 – the 128,000-square-foot building was constructed in the late 1990s as a built-to-suit project. It has remained 100 percent occupied by the same company since delivery.

“Strategic importance as a last-mile facility, combined with recent building improvements, historical occupancy and a prime infill location were all significant drivers for the economics of this transaction,” said Moffitt.

“Last mile facilities remain in high demand,” added Bauman. “We continue to see cap rate compression for functional real estate, strong credit and long-term leases.”

Peter Bauman
According to JLL, strong and steady absorption has dropped the Valley’s industrial vacancy rate to a 10-year low of 6.7 percent. 

The Southeast Valley led that absorption during the second quarter as demand continues to rise for supply chain and e-commerce facilities.

“Data supports what we see on the ground, which is that the overall Phoenix industrial market continues to see strong absorption and rapid rent growth,” said Larsen. “That is especially true for in-demand markets like the Southeast Valley and infill locations like this Tempe facility.”

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions.

Steve Larsen
 In doing so, we will build a better tomorrow for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. 

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

In Phoenix, JLL is a market leader employing more than 590 of the region’s most recognized industry experts offering office, industrial, retail, healthcare and data center brokerage, tenant representation, facility and investment management, capital markets, multifamily investments and development services, and related services within the real estate leasing, investment and management process.

 In 2018, the Phoenix team completed 75.3 million square feet in lease and sale transactions valued at $2.2 billion, directed $120 million in project management and currently manages a 32.4 million-square-foot portfolio. For more news, videos and research resources on JLL, please visit


 Stacey Hershauer
Phone: +1 480 600 0195

JLL closes sale of nine-property multi-state retail portfolio in Indiana, Michigan, Ohio and West Virginia

Amy Sands

CHICAGO, IL, Sept. 9, 2019 JLL announced today that it has closed the sale of portfolio comprising nine retail centers totaling 758,983 square feet in Indiana, Michigan, Ohio and West Virginia.

Clinton Mitchell
JLL represented the seller, ShopOne Centers REIT, a leading owner, operator and manager of high-quality grocery-anchored shopping centers. Albanese Cormier Holdings purchased the portfolio in an off-market transaction.

The nine properties include two Indiana properties, Forest Park Plaza in Brazil and Pine Lake Shopping Center in LaPorte. 

The five Ohio properties are Amberwood Center in Ashland; Barberton Shopping Center in Barberton; DeVeaux Village Shopping Center and Reynolds Plaza in Toledo; and Perrysburg Market Place in Perrysburg. 

Additionally, there is one Michigan property, Phoenix Square in South Haven, and one West Virginia property, Huntington Mall in Barboursville.

The portfolio is 92% leased primarily to national tenants like Kroger, Giant Eagle, Anytime Fitness, Michaels, Dollar Tree, Ollie’s Bargain and more. 

The sale represents an expansion for the buyer into Michigan, Ohio and West Virginia, having already established a strong presence in Indiana.

The JLL Capital Markets team that represented the seller included Managing Directors Clinton Mitchell and Amy Sands along with Senior Managing Directors Frederick Whitman and Kenneth Martin and Managing Director Bill Poffenberger.

Bill Poffenberger
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 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.


Kimberly Steele,
JLL Digital Content/PR Specialist
Phone: +1 713 852 3420

Regal | Christie’s International Real Estate Opens New Lake Mary, FL Gallery – Its Fifth Central Florida Location

Joyce Marsh
LAKE MARY, FL –  Regal | Christie’s International Real Estate specializing in luxury home sales has opened a fifth Central Florida location in a high-end building at 171 International Parkway Suite 1711 in Heathrow. 

The brokerage’s rapid growth and success of their other locations prompted Broker/Owner Chris Christensen to open the additional gallery that will serve the Seminole, Volusia and North Orlando areas.  

Chris Christensen
Veteran real estate professional Mel Bernstein is a partner in the new Lake Mary office.

Regal | Christie’s International Real Estate is revolutionizing the way people buy and sell properties," said Joyce Marsh, Regional Manager. 

  "Our new Property Gallery in Lake Mary was designed to create a relaxed atmosphere where visitors can enjoy a complete gourmet coffee menu while browsing exquisite properties in a casual lounge setting.”

Mel Bernstein
The only Central Florida affiliate for the Christie’s International Real Estate worldwide luxury brand has similar galleries on Sand Lake Road in Dr. Phillips, in Celebration, Clermont and Winter Park . 

Marsh adds, “Our homes are displayed in stunning high definition video in front of thousands of local potential buyers, and international visitors that dine and shop in Dr. Phillips, Winter Park, Celebration, Clermont, and now Lake Mary .  This is a truly unique offering for our sellers.”

 Regal | Christie’s International Real Estate's
 fifth Central Florida location in a high-end building
171 International Parkway,  Suite 1711
Heathrow, FL 

"Exciting things are happening in the real estate industry and Regal | Christie's International Real Estate is committed to being on the cutting edge of the changes in the marketplace,” Marsh said.


Joyce Marsh, Regional Manager/Broker
 Regal | Christie’s International Real Estate

Chris Christensen, Broker/Owner
 Regal | Christie’s International Real Estate

Beth Payan, Larry Vershel Communications Inc.
407-644-4142 or 407-461-3781

EagleBridge Capital Arranges $5 Million Financing for Marlborough, MA Office/R & D Building

Ted M. Sidel
Boston, MA -- EagleBridge Capital, has arranged acquisition/permanent mortgage financing in the amount of $5,245,000 for 33 Locke Drive, Marlborough, Massachusetts.

The mortgage financing was arranged by EagleBridge principal Ted. M. Sidel who stated that the loan was provided by a leading regional financial institution.

33 Lock Drive is a two-story, 61,177 square foot, multi-tenant, office/r & d building situated on a 3.91 acre site with parking for 212 vehicles. The building is 95% occupied. 

33 Locke Drive, Marlborough, MA

Tenants include Astellas Institute for Regenerative Medicine, All Pro Productions, Nitto Denko Avecia, and Communication Technology Services.    

Locke Drive is located less than one mile from the Route 20 Interchange of Route I-495 (Exit 24), metropolitan Boston’s outer ring circumferential highway.

Several office/r&d and industrial buildings are situated along Locke Drive. 

Located nearby are the Best Western Hotel and Trade Center, the Courtyard by Marriott and a number of corporations including TJX, GE Healthcare, Quest Diagnostics, Wellington Management, Dow Chemical, Oracle, Lockheed Martin, TJX, Boston Scientific and the Whole Foods Northeast Region Corporate headquarters as well as  shopping centers, apartment complexes including the 350 unit Avalon Marlborough Apartments,, and several additional hotels.

Mr. Sidel stated, “We were pleased to arrange acquisition/permanent financing which met the borrowers goals and featured a very attractive interest rate, a two year interest only period, future advances for capital and tenant improvements, and  flexible prepayment.”

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and r & d buildings, shopping centers, hotels, condominiums and mixed use properties as well as special purpose buildings.


Stanley J. Sidel
EagleBridge Capital
One Boston Place, Suite 2600
Boston, MA 02108

Ware Malcomb Announces Joseph Stryker has Joined Atlanta Office as Director, Architecture

Joseph Stryker 

ATLANTA, GA (Sept. 9, 2019) – Ware Malcomb, an award-winning international design firm, today announced Joseph Stryker, AIA has been named Director, Architecture in the firm’s Atlanta office.

In this position, Stryker leads the growth and management of the Architecture Studio and oversees all architecture projects for the Atlanta office.

Stryker is a seasoned architect who brings over 23 years of experience in the Atlanta market to his new role at Ware Malcomb.

His industry knowledge spans project and personnel management, business development and contract administration. Stryker specializes in complex, mixed-use buildings, and has successfully delivered projects in the office, hospitality, medical office, public, multifamily and education sectors.

Jason Dooley
“In addition to his talent as a design professional, Joe is incredibly skilled in all aspects of project management and delivery,” said Jason Dooley, AIA, Regional Director of Ware Malcomb’s Atlanta office.

“His extensive expertise will help Ware Malcomb build upon existing relationships to expand the firm’s presence in the Southeast and also increase our project diversification.”

Stryker earned a Bachelor of Architecture degree from the University of Cincinnati. He is a Registered Architect in the State of Georgia and is certified by the National Council of Architectural Registration Boards (NCARB).

He is also an associate member and alumni of the Center for Leadership at the Urban Land Institute, a member of the National Multifamily Housing Council, and a member of the American Institute of Architects (AIA).


Rachel Devany
VP Public Relations
 KCOMM for Ware Malcomb

Maria Rodgers, Public Relations Manager, 949.660.9128,

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128,

Eight Bedroom, Three-Story Log Home in the Southern U.S. Now Selling for $9.5 Million

This 25,000-square-foot creekfront log lodge at Jupiter Creek in northern Florida has both rusticity and elegance,
along with a 22-car collector’s garage
      Photos by Jon Kohler                    Source:

JUPITER CREEK, NORTH FLORIDA -- Owning a log cabin in the woods is becoming more attainable with the availability of kit homes in every size and price range.

But according to, when it comes to log cabins billionaires dream about, this 25,000-square-foot creekfront log lodge in northern Florida has both rusticity and elegance, along with a 22-car collector’s garage.

 Timber Creek Lodge, along with its 1,249 forested acres with abundant fish and wildlife, has just hit the market at $9.5 million.

Log cabins have been sensible and practical in the United States since the 1600s as a fortress against the weather, predatory wild animals and in some cases, predatory humans.

Located minutes to I-10 and restaurants in downtown Crestview,
 it is 10 minutes to the 
Crestview Airport and 45 miles to Destin, shopping, dining, golfing and entertainment

 Pioneers felled their own trees, debarked the logs and cut the notches that would hold everything in place. They chinked - filled the spaces between the logs - with whatever they could find using mud, animal hair, grasses and bits of cloth.

 Although primitive, a unique sense of warmth and security existed inside, which only came from being surrounded by wood protected from the unknown wilds of nature on the other side of the walls.

Today it’s a different story with companies building to the owner’s specs and machinery to do the hard work.

In northern Florida, this log lodge sits in the middle of 1,249 acres of woods, where the founder of Pro Bass magazine has created a hunting and sports-fishing compound.

Cited along three miles of White Sand Juniper Creek, frontage on Pond Creek and with three ponds stocked with bass and catfish, the forest consists of hardwood and Longleaf pine with 116 acres of income-producing planted Longleaf pine with recent timber cruise figures estimating the value at $1,600 per acre.

The forest is home to a large whitetail deer population and has multiple established hunting blinds.

The entrance is gated and the drive to the lodge is paved ensuring complete privacy and ease of access. Natural white-sand beaches flank Jupiter Creek as it flows through the front yard.

Selling completely furnished, with the light fixtures alone costing a mere $250,000, the three-story interior of the home is geared to impress visitors between its architecture and decor.

The 25,000-square-foot lodge has eight bedrooms including a master with fireplace, sitting area and balcony, ten elegant baths, a 2,000-square-foot living room with floor-to-ceiling windows and 40-foot ceilings overlooking Juniper Creek.

 The stone fireplace is double-sided, and there is an elevator, a theater, a fitness gym, over-the-top wine cellar, game room, gun room with safe, large chef’s kitchen and butler’s pantry.

Located minutes to I-10 and restaurants in downtown Crestview, it is 10 minutes to the Crestview Airport and 45 miles to Destin, shopping, dining, golfing and entertainment.

Jon Kohler 
Selling turn-key and priced at $9.5 million, listing agents are Jon Kohler and Walter Hatchett of Jon Kohler Associates, Lamont, Florida.


Genelle C. Brown
Content Manager, Media Division
Phone:  434-480-4504

Twitter:  @toptenrealestat