JLL arranges financing for 2.4-million-SF Dallas, TX industrial center project being developed by Perot Development Company and Invesco Real Estate

Stephen Bailey

DALLAS, TX – JLL Capital Markets announced it has arranged equity and construction financing for DFW Park 161, a Class A+ industrial park that will eventually total more than 2.4 million square feet at the Dallas-Fort Worth International Airport in Irving, Texas.

JLL worked on behalf of Perot Development Company to arrange the partnership with Invesco Real Estate, a global real estate investment manager. Additionally, working on behalf of the partnership, JLL arranged a five-year construction loan.

Situated on 196 acres at 5150 State Hwy 161, the DFW Park 161 site is at the east end of Dallas Fort Worth (DFW) International Airport fronting the President George Bush Turnpike and within the E DFW Airport / Las Colinas submarket.

The site also adjoins the Dallas Area Rapid Transit (DART) Orange Line and is directly across the freeway from the DART Belt Line Station.

Dustin Voltz 

Designed by Halff Associates, DFW Park 161 will consist of a four-building, highly efficient, Class A+ industrial business park. 

The project will be developed in phases and feature cross-dock buildings that have between 32- and 40-foot clear heights, 121 bays, 383 trailer parks and wide column spacing.

The JLL Capital Markets team representing the developer was led by Director Stephen Bailey, Managing Director Dustin Voltz and Senior Managing Director John Rose.

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.

John Rose

About Perot Development Company

Perot Development Company is a full-service real estate company that is responsible for the construction/development, leasing and management of their facilities. 

 Perot Development specializes in the development of air cargo and warehouse/distribution facilities at major airports in the U.S. Major developments.

The facilities include Logistics Centers I-V and 6-11, Aviall headquarters, Dallas Airmotive Aircraft Engine Repair & Test Facility, Schenker Logistics/BAX Global logistics facility and Life Science Logistics distribution center, all at DFW International Airport, and the UPS regional gateway hub at Houston Intercontinental Airport.

Contact:

 Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.

perotdevelopment.com.

Weiss Serota Helfman Cole & Bierman Welcomes Return of Partner Anthony Recio

Anthony (Tony) Recio 

MIAMI, FL – Weiss Serota Helfman Cole & Bierman P.L. announces the return of Anthony Recio to the law firm as Partner. He is part of the firm’s land use and zoning division.

Recio’s practice focuses primarily on the representation of private developers in land use and zoning matters, along with real estate investors and private lenders in South Florida.

He has significant experience with complex tax-credit financing guidelines and has written legislation at the local level to better facilitate development of affordable housing and mixed-income housing.

 Mitchell Bierman

Prior to his return to the firm, Recio took a three-and-a-half-year sabbatical at a Buddhist retreat, where he dedicated his time to meditation and self-reflection. His experience there was detailed in an in-depth profile published by the Daily Business Review.

“We whole-heartedly supported Tony when he decided to take a sabbatical and we whole-heartedly welcome his return to the firm,” said Miami Office Managing Director Mitchell Bierman. 

“Tony has always been a stellar attorney, and I know with his new sense of clarity from the retreat he will continue to serve his clients in a way only Tony knows how, with grace and deep insight and compassion “

.  

Contact:

Mara Gordon

Digital PR Specialist, BoardroomPR

mgordon@boardroompr.com

O 954-370-8999 

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.wsh-law.com.

BLT Enterprises Sells Three-Building Office and R&D Campus in San Diego's Sorrento Mesa Submarket for $39 Million

Sorrento Tech campus, comprised of three creative office/R&D buildings totaling more than 93,480 square feet, in the Sorrento Mesa submarket of San Diego, CA

SAN DIEGO, CA, May 20, 2020 – BLT Enterprises, a multi-faceted real estate investment company based in Santa Monica, California, has sold the Sorrento Tech campus, comprised of three creative office/R&D buildings totaling more than 93,480 square feet, in the Sorrento Mesa submarket of San Diego, California, to Longfellow Real Estate Partners for $39 million.

Bernard Huberman

During the firm’s four-year ownership of the assets, BLT Enterprises implemented a strategic repositioning plan, driving up the value and bringing the campus to 100% occupancy, according to Founder and President Bernard Huberman.

“We purchased the buildings mid cycle following the Great Recession, recognizing the value of their central location in a booming submarket,” says Huberman, noting that at the time, one-third of the project was vacant, functionally obsolete space, and two of the buildings had been distressed assets purchased from the prior lender. 

“We completed a range of light-to-heavy upgrades and the campus has now been fully leased to multiple tenants for several years.”  

Drawing on extensive experience in adaptive reuse, BLT Enterprises’ renovations to the campus included transforming a 35,000 square-foot raw industrial space into innovative creative office product, offering an open floor plan, complete with three executive offices, a large conference room, an upgraded kitchen, and outdoor patio. 

 Ron Jacobson 

Huberman notes that the decision to sell at this time made sense as the firm looked ahead to the long-term future of the submarket in which the campus is located.

“As Sorrento Mesa has increasingly distinguished itself as one of San Diego’s biotech and life science hubs, we envision that the strategic next step for the Sorrento Tech campus will be to invest heavily in tailoring the facilities to life sciences and biotech companies,” explains Huberman. 

“Because that is not currently within our core focus, and with demand and construction activity at a high in the submarket, we decided now was a prime opportunity to sell.”

According to Huberman, Longfellow Real Estate Partners is focused on expanding its life sciences portfolio in the area and could benefit from Sorrento Tech’s flexible entitlements down the line.

Rick Reeder

The campus is currently 100% leased to CV Sciences, TorreyCove Capital Partners, L3 Technologies, and Ron’s Pharmacy.

The buildings are located at 10070, 10140, and 10180 Barnes Canyon Road in San Diego, California. Ron Jacobson of SD Realty Partners, along with Rick Reeder and Brad Tecca of Cushman & Wakefield, completed the transaction on behalf of both the buyer and the seller.

About BLT Enterprises

Headquartered in Santa Monica, Calif., BLT Enterprises was founded in 1984 and is a multi-faceted real estate investment company with an exceptional track record of success in industrial and commercial real estate. 

Brad Tecca 

The firm has developed or acquired more than $2 billion in assets to date.

BLT Enterprises specializes in the acquisition, entitlement, development, operation, and property management of industrial, office, retail, mixed-use and special-use properties.

Contacts:

Elisabeth Manville / Katie Haga

Brower Group

(949) 438-6262

emanville@brower-group.com

Third Location of Blackton Inc., a Family-Owned Flooring and Roofing Supply Firm, Opens at New Leesburg, FL Facility

                Blackton Inc.’s Jim Martiniza (left) and Clay Weaver 

            review orders for the day at their new Leesburg, FL facility.

LEESBURG, FL and ORLANDO, FL -- Blackton, Inc., one of Central Florida’s largest and most active suppliers of roofing and flooring materials to the homebuilding industry opened a third location in the heart of Leesburg to better serve its builder clients in Lake, Marion and Sumter counties. 

 Michael “Micky” Blackton, chairman and CEO, said Blackton opened the branch location at 105 Park Center St .  Business hours are Monday through Friday 8 a.m. to 5 p.m.

Michael “Micky” Blackton

“This expansion enables us to service current and new customers with greater turnaround time,” he said.   

Blackton has been operating since April out of the new 15,000 square foot facility and a half acre staging area with an initial staff of 18.

Headquartered just north of downtown Orlando with a retail location in southwest Orlando , the family-owned business has been supplying the home building industry from Jacksonville to Tampa since it was founded more than six decades ago.

CONTACTS:

Michael “Micky” Blackton, Chairman, Blackton Inc.

 407-898-2661 Micky@Blacktoninc.com

Beth Payan, Larry Vershel Communications

407-644-4142 or 407-461-3781 Lvershelco@aol.com