JLL closes $34 million sale of Beaverton, OR apartment community

Terra Murrayhill Apartments, Beaverton, OR

PORTLAND, OR.  –- JLL announced it has closed the $34.1 million sale of Terra Murrayhill, a 137-unit, garden-style apartment community located in Beaverton, Oregon.

JLL marketed the property on behalf of the seller, a West Coast-based investor, and procured the buyer, DB Capital Management.

Carrie Kahn

Terra Murrayhill is located near major tech employers within what is known locally as the “Silicon Forest.”

The property, which sits on approximately nine acres at 14305 SW Sexton Mountain Drive, is also close to the Beaverton Transit Center providing residents with connectivity to downtown Portland, Hillsboro and the Portland International Airport. 

Ira Virden

The community comprises 15 residential buildings that house a mix of one-, two- and three-bedroom units averaging 891 square feet. 

Originally constructed in 1985, Terra Murrayhill has recently undergone $3 million in renovations and capital improvements.

 In addition to the newly upgraded clubhouse, common area amenities include an outdoor pool, hot tub, grilling area, fitness center, business center, dog park, detached garages and direct hiking trail access.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, an Oregon-licensed real estate salesperson, and Senior Director Carrie Kahn.

 The DB Capital Management team was led by Vice President – Northwest Region Daniel Terranova, who brings a decade of experience in real estate with a specialty in acquisitions and asset management.

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

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

Contact: 

Olivia Hennessey

JLL Public Relations Specialist  

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

 jll.com

JLL closes sale-leaseback of Silicon Valley warehouse building

Tatiana Hodapp

LOS ANGELES, CA, Dec. 19, 2019 – JLL announced today that it has closed the sale-leaseback of a 126,788-square-foot, fully leased warehouse in the Silicon Valley community of Sunnyvale, California.

JLL marketed the property on behalf of the seller, a global storage and information management services company. The buyer purchased the asset and executed a sale-leaseback with the seller through 2022. 

 Ryan Sitov 

Situated on more than seven acres at 111 Uranium Drive, the warehouse building is centrally located in an infill Silicon Valley location within walking distance to the Lawrence Caltrain Station. 

It is just off U.S. Highway 101 and the Lawrence Expressway 10 miles to Union Pacific Fremont Yard. Additionally, the property is approximately 5.8 miles from San Jose International Airport, 30.6 miles from San Francisco International Airport, 40.4 miles from the Port of Oakland and 34.8 miles from Oakland International Airport. 

111 Uranium Drive is one of the last remaining warehouse buildings in Sunnyvale, and there has not been any new warehouse construction in Sunnyvale since 1997. 

The value-add building, which was constructed in 1970, features 32-foot clear heights, 27 dock-high doors with three ramps and some office finish.

The JLL Capital Markets team representing the seller was led by Senior Vice President Ryan Sitov and Executive Managing Directors Mark Detmer and Bo Mills along with Managing Director Greg Matter and Vice President Tatiana Hodapp.

Mark Detmer

According to a recent JLL Q3 2019 Industrial Research Report, the Sunnyvale Industrial submarket has a warehouse and distribution vacancy rate of 0%, and only a 0.4% vacancy rate for manufacturing, resulting in a total submarket vacancy of 0.2%

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.

Bo Mills 

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

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

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.

 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 more than 93,000 as of September 30, 2019. 

Greg Matter 

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

Contacts: 

Mark Detmer, SIOR, CCIM

California License #:  02001329

Phone: +1 213 239 6377

Email: mark.detmer@am.jll.com

 Kimberly Steele, JLL Digital Content/PR Specialist

Phone: +1 713 852 3420

Email: kimberly.steele@am.jll.com

Ware Malcomb Announces Wendy Crenshaw has Joined Irvine, CA Office as Director, Interior Architecture & Design

Wendy Crenshaw

IRVINE, CA – Ware Malcomb, an award-winning international design firm,  announced Wendy Crenshaw has joined the firm as Director, Interior Architecture & Design in the Irvine, Calif.-based headquarters office. 

Working under the direction of Director, Interior Architecture & Design Mary Cheval, Crenshaw helps to lead and manage the Interior Architecture & Design Studio and oversees interiors projects for the Irvine office.

Crenshaw brings over 30 years of industry experience in interior architecture and design to the Ware Malcomb team, including designing more than 1,000,000 square feet of commercial office space in her career. 

She has worked on a wide variety of project types, including corporate headquarters, education, commercial office, retail/hospitality, public and science and technology projects. She is also well versed in all major product specifications including material finishes, lighting design and furniture.

Mary Cheval

“Wendy is a dynamic leader with a wealth of knowledge, a highly collaborative approach and strong communication skills – all of which will be a tremendous asset to our team,” said Mary Cheval, Director, Interior Architecture & Design of Ware Malcomb’s Irvine office. 

“Her excellent client management skills and proactive project management acumen have already earned her the respect of clients and peers alike. We look forward to her continued contributions in mentoring staff, overseeing projects and expanding business development opportunities at Ware Malcomb.”

Crenshaw holds a Bachelor of Science degree in Interior Design from Auburn University and completed graduate course work at Virginia Polytechnic Institute and State University (Virginia Tech). She is also certified with LEED BD+C, WELL AP, California Council for Interior Design (CID), and National Council for Interior Design Qualification (NCIDQ). 

CONTACTS:

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

Maria Rodgers, Public Relations Manager 949.660.9128, mrodgers@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

waremalcomb.com/news

Design video at youtube.com/waremalcomb.

Ware Malcomb Irvine

10 Edelman
Irvine, CA 92618

p. 949.660.9128        

JLL closes sale of Ohio retail building

Claudia Steeb

 PHILADELPHIA, PA – JLL announced it has closed the sale of a 209,621-square-foot, single-tenant retail building net leased to a retail corporation and fronting the Fort Steuben Mall in Steubenville, Ohio.

JLL marketed the property on behalf of the seller. Bluejay Management purchased the asset.

Marc Mandel

The property is situated on 16.21 acres at 100 Mall Drive in Steubenville, which is located on the Ohio-Pennsylvania border approximately 40 miles from the Pittsburgh CBD. 

The property is just off Route 43 (Sunset Boulevard), a main thoroughfare in the region with traffic counts of 24,150 vehicles a day.

 More than 41,000 residents earning an average annual household income of $61,536 live within a five-mile radius of the property. 

The building is adjacent to the Fort Steuben Mall, which is home to AMC Theatres, JCPenney, Pet Supplies Plus, Dick’s Sporting Goods, Bath and Body Works. Aaron’s, Payless and Gamestop.

The JLL Retail Capital Markets team that represented the seller was led by Managing Director Marc Mandel and Director Steve Schrenk along with Managing Director Claudia Steeb.

Steve Schrenk 

“The Steubenville store is high performing and features rare increases in each of the option periods,” Mandel said. 

“Overall, there continues to be strong demand for discount department stores in the net-lease market; however, there have not been many single-tenant trades with this tenant historically due to the fact they own the majority of their real estate.”

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

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

Contact:

 Kimberly Steele

JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email: kimberly.steele@am.jll.com

bluejaymanagement.com.

jll.com.

Commercial Real Estate Industry Loses Colleague – One of Its Finest, a Leader and ‘Classic Gentleman’

Raymond “Ray” Hayhurst 

ORLANDO, FL – Raymond “Ray” Hayhurst an Orlando resident for over 35 years, senior vice president at Avison Young Global, passed away Dec. 13 at the age of 73.  

He was survived by his wife Pam Carman-Hayhurst, a sister Helen Eve Vance, daughters Alissa Hayhurst Tasler and Annie Carman Burns (husband-Kevin), son Justin Hayhurst and grandchildren Riley and Cameron Burns.

Hayhurst was an active member of the International Council of Shopping Centers. His successful 50-year career in commercial real estate focused on retail investment sales for over 30 years.   

 Throughout the decades he developed key relationships with top national and local retailers and was recognized as an expert in the disposition of retail properties. 

 He worked for top commercial real estate firms in the nation and directed the sale of more than 4 million square feet of retail properties in Florida , Virginia , Georgia and North Carolina . 

                                                                                                                 

Hayhurst was born in DeLand, graduated from DeLand High School and from Florida State University with a Bachelor’s Degree in Business Education.

Early in his career he rose quickly to be Vice President of the Atlanta Merchandise Mart and was involved in the development of Trammell Crow’s 1.5 million-square-foot Infomart in Dallas . 

He went on to spend 15 years with Trammell Crow, responsible for the firm’s retail investment sales. Hayhurst also held similar roles overseeing retail investment transactions for such renowned firms as Lat Purser & Associates, Grubb & Ellis and Cushman & Wakefield.

John Crossman

He was a friend to and admired by all who knew and worked with him, according to one colleague, John Crossman.  

 “Ray was the classic gentleman.  He was kind, compassionate and hardworking.  A total professional and someone I’ve admired for my entire career.”

A Celebration of Life will be held Thursday, Dec. 19 at 3 p.m. at Pine Ridge Church , 3900 S. Hiawassee Rd. , Orlando , FL 32835 .   A reception will immediately follow the service at the church.

*ADDENDUM -- In lieu of flowers, please honor Ray Hayhurst’s memory by making a donation to the Angiosarcoma Cancer Fund.  Gifts may be mailed to UF Health Office of Development, P.O. Box 100386 , Gainesville , FL 32610 .  *Please indicate on your gift that it is in memory of Ray Hayhurst.

Contacts:

John Crossman, CCIM, CRX,

407-581-6218 

jcrossman@crossmancb.com  

Beth Payan Larry Vershel Communications Inc

 407-461-3781

 beth@larryvershel.com

JLL closes sale of Cary, NC apartments

                              

Tradition at Stonewater Apartments, Cary, NC

CHARLOTTE, NC, Dec. 17, 2019 – JLL announced today that it has closed the sale of Tradition at Stonewater, a 351-unit, suburban, garden-style apartment community in Cary, North Carolina.

 Andrea Howard

JLL marketed the property on behalf of the seller, an affiliate of Banner Real Estate Group, and procured the buyer, Goldman Sachs Merchant Banking Division.

Jeff Glenn

Tradition at Stonewater is located at 12000 Wisdom Drive near major employment centers such as Research Triangle Park and Duke University & Medical Center. 

Completed in 2009, the institutionally maintained property is 96% leased and includes 351 units averaging 1,016 square feet each.

 Community amenities include a resort-style saltwater swimming pool, outdoor lounge, screened-in summer kitchen, fitness center, theater room, business center and gated dog park.

The JLL Capital Markets team representing the seller included Managing Directors Jeff Glenn and Justin Good, Senior Director Allan Lynch, Director Caylor Mark and Senior Vice President Andrea Howard.

Justin Good

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.

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

About Banner Real Estate Group:

Banner Real Estate Group and its affiliates (“Banner”) is a group of fully integrated real estate operating companies based in Northbrook, Illinois, that focuses on the acquisition, management and development of multifamily properties in select markets. 

Allan Lynch

Since its founding in 1989, Banner has acquired and operated 52 multifamily properties totaling more than 9,834 units. The current portfolio consists of more than 4,800 units.

About Goldman Sachs Merchant Banking Division:

Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. 

Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity.

 MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.

Caylor Mark

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.

 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 more than 93,000 as of September 30, 2019. 

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

Contact:

 Olivia Hennessey
JLL Public Relations Specialist  

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

jll.com