JLL Capital Markets expands Minneapolis team with veteran brokers Dave Berglund and Colin Ryan

David Berglund 

MINNEAPOLIS, MN  –- JLL Capital Markets announced the key hiring of David Berglund and Colin Ryan as Senior Managing Directors, Co-Leaders of the JLL Capital Markets’ Minneapolis office. 

 Berglund and Ryan have more than 30 years of combined commercial real estate experience and have extensive knowledge transacting investment sales for multi-tenant office, industrial and medical investments, among other property types.

They have been consistently recognized in the marketplace as top performers and by industry organizations such as MNCAR’s “Rising Star” award, CoStar Power Brokers and RE Forum’s Top Brokers.

Berglund and Ryan have been involved in more than $1 billion in real estate transactions over the past 18 months.

 Colin Ryan

“While we’ve always had a presence in Minneapolis, the hiring of Dave and Colin signifies our commitment to our path towards strategically building out the full spectrum of services JLL can offer to its clients,” said Matthew Lawton, Executive Managing Director.

“Both are extremely well respected in the industry and we are excited to have them as part of the team and leading our continued growth in the Twin Cities capital markets space.”

 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.

Matthew Lawton

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 our newsroom.

 CONTACT:

Kimberly Steele

Senior Associate

 Public Relations

JLL Capital Markets

9 Greenway Plaza, Suite 700

Houston, TX  77046

T +1 713 852 3420

M +1 832 244 9994

Kimberly.Steele@am.jll.com

  jll.com.

us.jll.com/capitalmarkets

Native Realty Retained to Market Cape Coral, FL Self-Storage Portfolio

FORT LAUDERDALE, FL and CAPE CORAL, FL, July 29, 2020 –- Native Realty, the pioneering Fort Lauderdale-based commercial real estate firm, is expanding to the west coast of Florida with the exclusive listing of a Cape Coral self-storage portfolio, priced at $6.8 million.

Jaime Sturgis

 Firm CEO Jaime Sturgis and Native’s Dan Ross are marketing the eight-property portfolio.

 The listing is of unusually high demand in the current COVID environment, as investors flock to the safety of Industrial/Flex investments. 

Savvy investors covet self-storage assets because, when run efficiently, they can produce strong income in any economic or real estate cycle.

 This portfolio consists of 523 units totaling 79,052 square feet across 5.24 acres. It features a wide range of units, creating opportunities for flex/industrial uses beyond traditional self-storage.

 Extensive recent capital improvements include new roofing systems designed to withstand 140 miles per hour winds, hurricane-rated overhead doors, an 87-camera cloud-based security system and new LED interior and exterior lighting.

Dan Ross

 “Demand for industrial assets is at an all-time high, and supply remains limited,” Sturgis said. 

“The current COVID environment has only increased demand, as many businesses and households choose to downsize and seek storage space as a more cost-effective option.

"This is a rare opportunity to acquire a stabilized portfolio, in an up-and-coming city, with strong in-place cash flows, and an opportunity to value-add through stabilization to further increase an investor’s return.

"The properties are well maintained - with little deferred maintenance - and are flexible in design, which allows them to pivot to more industrial/flex uses in the future, creating multiple exit strategies.”

Cape Coral’s population has increased by 41% since 2000. It is projected to grow by another 11.69% over the next five years.

For more information on the portfolio, visit nativere.com/listings.

 Native Realty is headquartered at 719 NE Second Ave. in Flagler Village.

 CONTACT:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

www.nativere.com. 

Kinzie Builders Completes Construction on New Roslyn Meadows Luxury Townhome Community in Barrington, IL

  

 A development of 16 new-construction luxury townhomes in the northwest Chicago suburb of Barrington, IL

CHICAGO, IL, July 29, 2020 – Kinzie Builders today announced it has completed construction at Roslyn Meadows, a development of 16 new-construction luxury townhomes in the northwest Chicago suburb of Barrington, Ill.

Priced from the high $400,000s, the homes range from 2,019 to 2,453 square feet.

“Demand for townhomes in Barrington and the surrounding suburbs remains strong, and we’re thrilled to have been able to deliver these charming townhomes in time for the resurgence of the homebuying season,” said Steve Spinell, principal of Chicago-based Kinzie Builders.

Steve Spinell

“As millennials begin to form new households and older adults seek out maintenance-free lifestyles, the demographics are strong for developments like Roslyn Meadows that offer high-quality homes that enable buyers to move in and immediately begin enjoying all the community and surrounding area has to offer.”

Roslyn Meadows is comprised of 16 three-bedroom, 2½-bath townhomes designed in the Williamsburg Colonial Revival architectural style.

“This was our second project in the Barrington area, which we think contributed to our ability to deliver Roslyn Meadows on time and on budget without any major obstacles,” said Spinell.

“Knowing the neighborhood, municipality codes and having a top-notch crew that has mastered the high level of craftsmanship these plans required all contributed to completing this successful project.”

The two-story homes’ open floor plans include kitchens with center islands, ProCraft cabinetry, quartz countertops and stainless-steel appliances; primary baths with walk-in showers with frameless glass doors, double-bowl vanities and quartz countertops; walk-in closets in all bedrooms; and laundry on the same level as the primary bedroom.

Kinzie previously built custom and semi-custom homes in Lake Barrington.

CONTACTS:

Traci Failla, tfailla@taylorjohnson.com, (312) 267-4516

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

www.kinziebuilders.com.

Fort Myers, FL surgery center trades to private equity firm

Paramount Surgery Center, 2565 Cleveland Avenue, Fort Myers, FL

ORLANDO, FL, July 29, 2020 – JLL Capital Markets announced today that it has closed the $7 million sale of Paramount Surgery Center, a 9,000-square-foot surgery center in Fort Myers, Florida.

 JLL represented the seller, 8250 Realty LLC, who sold the property to IRA Capital.

 Paramount Surgery Center is located at 2565 Cleveland Ave. directly across the street from Lee Memorial Hospital, a Level II Trauma Center.

 John Krzyminski 

 Positioned in a busy commercial corridor, the property boasts convenient access to Interstate 95 as well as more than 10,000 businesses within a five-mile radius.

The licensed ambulatory surgery center was completed in 2012 and features three operating rooms, step-down recovery, a nurse station, consultation room and reception area.

 The JLL Capital Markets team representing the seller included Senior Directors John Krzyminski and Director Max Krzyminski.

“Healthcare properties continue to attract strong investor interest and we anticipate them to be well-positioned to perform in a post-COVID environment as noted in JLL’s recent Healthcare Real Estate Outlook,” said Krzyminski.

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

Max Krzyminski

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 our newsroom.

 For more information, please contact: Sophia Doan, Corporate Communications + 1 949 612 2742  / sdoan@iracapital.com.

CONTACT:

Natalie Passarelli
Natalie.Passarelli@am.jll.com

www.iracapital.com.

jll.com.

Levin Johnston Directs Three Multifamily Property Sales in California Bay Area for Total Consideration of $34.32 Million

BAY AREA, CA, July 29, 2020 – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed three multifamily property sales in the Bay Area for a total consideration of $34.32 million.

Levin Johnston’s Executive Managing Director Adam Levin and Senior Managing Director Robert Johnston represented the seller and procured the buyer.

“While the multifamily market is certainly riding out the wave of the pandemic, the Bay Area provides a silver lining to strategic multifamily investors looking to expand their portfolio. 

"Tech giants including Facebook, Google and Salesforce recently announced new job openings, making the Bay Area an attractive choice for renters,” explains Levin.

 “In this transaction, we were able to procure a strong buyer who recognized the long-term investment opportunity, and that by purchasing the three properties, which are part of a six-property portfolio, they would benefit from economies of scale. As a result, we were able to secure an attractive sales price for our seller.”

The South Bay Area is a catalyst for new retail and commercial developments, explains Johnston. This portfolio presented a rare opportunity to acquire several strategically located assets in an area that is rapidly expanding to keep up with the high demand of tech jobs in the area.

The three properties in the portfolio include:

1234 Sunnyvale Saratoga Road, Sunnyvale, CA

1234 Sunnyvale Saratoga Road in Sunnyvale, California, a 34-unit multifamily property that is situated on 1.28 acres, which sold for approximately $15.3 million.

 Originally constructed in 1963, the property features an attractive mix of one studio apartment, twelve one-bedroom/one-bathroom apartments, 13 two-bedroom/one-bathroom apartments, seven two-bedroom/one-and-a-half bathroom apartments, and one three-bedroom/two-bathroom apartment. 

The asset has undergone significant exterior and interior improvements including carpet and linoleum replacement. The property offers renters a community courtyard, private individual parking and on-site laundry facility. 

100 Oak Rim Way, Los Gatos, CA

100 Oak Rim Way in Los Gatos, California, a 1.15 acre 24-unit multifamily property which sold for a total of approximately $11.52 million. 

The building was constructed in 1961 and offers renters a mix of four one-bedroom/one-bathroom and 20 two-bedroom/one-and-a-half bathroom apartments. Recent interior upgrades include new carpet, new windows and linoleum replacements.

2905 Old Almaden Road, San Jose, CA

2905 Old Almaden Road in San Jose, California, a 25-unit multifamily property situated on 0.7 acres that sold for approximately $7.5 million. The asset was originally constructed in 1961 and has a gross building area of 20,196 square feet, offering its tenants 20 one-bedroom/one-bathroom apartments, four two-bedroom/two-bathroom apartments and one three-bedroom/two-bathroom apartment.

            Shared community amenities include a community courtyard, picnic area, private carports, security cameras and an on-site laundry facility. 

For more information about Levin Johnston’s $100 million in available properties, visit www.levinjohnston.com.

  

CONTACTS:

Alex Caswell / Katie Haga  

Brower Group

(949) 438-6262

acaswell@brower-group.com

levinjohnston.com.

Marcus & Millichap Brokers $2.4 Million, 37,601-SF Retail Property in Bradenton, FL

Sarabay Plaza,  6513 14th Street West, Bradenton, FL 

 

Jim Shiebler

BRADENTON, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Sarabay Plaza, a 37,601-square foot retail property located in Bradenton, Fla., according to Chris Travis, regional manager of the firm’s Tampa office. The asset sold for $2,400,000.

Jim Shiebler, James Garner and James Medefind and, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.  The buyer, an individual/personal trust, was also secured by the three brokers.

 James Garner 

“Our proven marketing process yielded 7 offers for the property creating a high level of competition for the seller.

James
Medefind

 "We implemented and utilized a variety of creative strategies to mitigate and overcome a number of challenges,” stated Mr. Shiebler.

Sarabay Plaza is located at 6513 14th Street West in Bradenton, Fla. The property is located on the main North/South thoroughfare through Bradenton, US-41, which sees 47,500 vehicles per day.  

Bradenton is an extremely dense residential area with a 163,000 population within 5-miles.

 
CONTACT:

Chris Travis

Regional Manager

 Tampa, FL

(813) 387-4700

www.MarcusMillichap.com

Integrated Capital Announces Completion of Multi-Million Dollar Renovation of DoubleTree by Hilton Hotel Pittsburgh – Meadow Lands

The 140-room DoubleTree by Hilton Hotel Pittsburgh – Meadow Lands. 

WASHINGTON, PA -- Integrated Capital, a Los Angeles-based, private real estate advisory and investment firm, announced the completion of a multi-million dollar renovation of the 140-room DoubleTree by Hilton Hotel Pittsburgh – Meadow Lands. 

Kenneth H. Fearn

The hotel is operated by Hospitality Ventures Management Group (HVMG), a private hotel investment, ownership and management company, on behalf of Integrated Capital.

            “Though construction materials are much harder to come by during the pandemic, we were able to complete this hotel refresh on-time and on-budget,” said Kenneth Fearn, managing partner, Integrated Capital. 

“The newly renovated hotel is better positioned to attract business and leisure guests who are ready to resume travel in a cautious manner. 

 "In addition to multiple guest room enhancements, we also have implemented HVMG’s new Trust & Preparedness initiative, a comprehensive, guest and associate safety and sanitation program designed specifically to create a welcoming and secure environment.”

           

 Robert S. Cole

The refurbishment focused on guestrooms and hallways.  All rooms received new soft goods, including bedding, bed upgrades from double-double to queen-queen and new televisions. 

The hotel’s Wi-Fi infrastructure also was improved and now provides the “fastest-in-the-market” connectivity available.  Additional improvements include exterior painting and lighting upgrades.

            “With the completion of the upgrades, the hotel has achieved ‘like-new’ status, now exceeding what the marketplace has had to offer in terms of guest rooms and amenities,” noted Robert Cole, president and CEO, HVMG. 

 “We continue to take great steps to not only improve the hotel physically, but to ensure that guests can feel assured of the level of cleanliness throughout the property and in their rooms.  We are confident the hotel quickly will become a market leader.”

Located at 340 Racetrack Road just off I-79, the six-story hotel is adjacent to the Meadows Racetrack & Casino and less than a mile from Tanger Outlets, both of which are accessible by the hotel’s complimentary shuttle service. 

 Each stay at a DoubleTree hotel begins with a warm, chocolate chip cookie upon arrival.  Guests are invited to enjoy the outdoor pool or 24/7 fitness center. 

The hotel also provides approximately 13,000 square feet of meeting space, as well as two dining establishments, Maxwell’s Lounge, offering appetizers and drinks, and Maxwell’s Restaurant, serving steaks, pasta and seafood. 

 Guest rooms include complimentary Wi-Fi, oversized, ergonomic workspaces and HDTVs.

 
CONTACT:

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

 www.hvmg.com