JLL Capital Closes Sale of Centerra Industrial Building IV in Loveland, CO

Centerra Industrial Building IV, a 122,806-SF, industrial facility in Centerra, a master-planned community in Loveland, CO

DENVER, CO, Aug. 13, 2020 – JLL Capital Markets announced today it has closed the sale of Centerra Industrial Building IV, a newly constructed, Class A, 122,806-square-foot, industrial facility with an adjacent parking lot in Centerra, a master-planned community developed by McWhinney in Loveland, Colorado.

                 Rachel Vogel

 JLL marketed the property on behalf of the seller, McWhinney. Mark IV Capital purchased the asset.

 Centerra Industrial Building IV is fully leased to a global e-commerce company. 

Britton Burdette

The building was completed in late 2019, and features tilt-up concrete construction, extra land for ample parking, 24- to 30-foot clear ceiling heights, 12 truck doors, 50 dock doors and ESFR fire suppression.

Situated on 20.64 acres at 4541-4555 Viking Way within Centerra, the facility is part of Centerra’s master-planned community in Loveland, situated less than 50 miles directly north of Downtown Denver. 

The property offers direct access to Interstate 25, Colorado’s main north-south expressway through Wyoming, Colorado and New Mexico, and also provides convenient access to Interstates 270 and 76, allowing even more regional transportation access to Colorado’s growing population.

 Bo Mills

The JLL Capital Markets team was led by Managing Directors Larry Thiel and Britton Burdette, Senior Managing Directors Bo Mills and Eric Tupler, Senior Director Brock Yaffe and Associate Rachel Vogel. 

“The marketing of Centerra Industrial Building IV saw several new-to-the-sector investors looking for an opportunity to place capital in an e-commerce facility,” Thiel said. 

“Our team was honored to advise Colorado-based McWhinney on this Class A asset in the prized Centerra Master Plan development.”

For more news, videos and research resources on JLL, please visit our newsroom.

Eric Tupler

About McWhinney

McWhinney is a Colorado-based real estate development and investment firm with offices in Loveland and Denver, comprising a team of talented professionals who are passionate about creating great places and building a world of possibilities. 


Since 1991, McWhinney has planned and developed more than 6,000 acres of innovative and sustainable master-planned communities and more than 10 million square feet of vertical commercial and mixed-use properties throughout the Rocky Mountain region and the West Coast. 

About Mark IV Capital

Brock Yaffe

Mark IV Capital is a privately held real estate firm founded in 1974. The company acquires, invests in, develops, and manages commercial projects utilizing a long-term approach to deploy capital in markets where existing drivers will propel future value.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

               Larry Thiel

JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020.

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

CONTACT:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

us.jll.com/investorservices

 jll.com.

mcwhinney.com.

Mark IV Capital

$20.5 million refinancing secured for Garabrant apartments in Jersey City, NJ

Garabrant is located in the historic neighborhood of Bergen-Lafayette

MORRISTOWN, NJ – JLL Capital Markets announced it has arranged a $20.5 million refinancing for Garabrant in Jersey City, New Jersey.

JLL worked on behalf of the borrower, Point Capital Development, LLC, to place the 10-year, fixed-rate conventional loan through Freddie Mac. 

Matthew Pizzolato

The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. The proceeds will be used to refinance the existing construction loan and payoff the preferred equity in the deal.

Garabrant is located in the historic neighborhood of Bergen-Lafayette. 

Situated just one block from Liberty State Park’s Hudson-Bergen Light Rail station and less than one mile from Interstate 78, the property offers its residents convenient access to the Hudson Waterfront, lower Manhattan and the greater New York MSA.

Completed in 2019, the six-story property features best-in-class construction and unit design, offering a diverse mix of spacious studios, one- and two-bedroom apartments. 

Units feature stainless steel appliances, quartz countertops, hardwood floors, island kitchens and large closets. Community amenities include a roof deck with views of the Manhattan and Jersey City skylines, a fitness center, sauna, onsite parking, bike storage and cooking grills.

The JLL Capital Markets Debt Placement team representing the borrower was led by Director Matthew Pizzolato.

John D. Fio Rito

The Point Capital Development, LLC team was led by founder, John Fio Rito.

“I was excited to assist my client in securing and closing this financing during a challenging capital markets environment,” stated Pizzolato.

“Coming to market for permanent financing on a recently stabilized multifamily project in the midst of a global pandemic had its challenges but JLL stepped in and did an excellent job getting this deal across the finish line,” stated Fio Rito.

For more news, videos and research resources on JLL, please visit our newsroom.

CONTACT:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

us.jll.com/investorservices

$24.126 million refinancing secured for the Enclave at Northwood in Clearwater, FL

Enclave at Northwood multi-housing community
 2690 Enterprise Road East, Clearwater, FL

Elliott Throne

MIAMI, FL –– JLL Capital Markets announced  it arranged the $24.126 million refinancing for the Enclave at Northwood multi-housing community located at 2690 Enterprise Road E. in Clearwater, Florida.

JLL worked on behalf of the borrower, JWC Clearwater LLC, a private equity partnership managed by Preston Giuliano Capital Partners, to secure the loan through Freddie Mac. 

The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.

 JWC Clearwater acquired the property in 2015 by assuming a Freddie Mac senior loan and placed a supplemental loan in 2018 after conducting extensive external and internal renovations. 

Amit Kakar

The refinance repays both loans and provides funds for a new outdoor dining pavilion, a gazebo and boat dock on the lake and unit renovations.

The Enclave at Northwood was built in 1984 and consists of 188 villas and townhouses for residents seeking a private-estate-like property that’s also in close proximity to the city. 

The community is conveniently positioned nearby various dining, retail and entertainment options, along with renowned schools and parks.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Elliott Throne, Directors Amit Kakar and Jesse Wright and Associate Drew Jennewein.

Jesse Wright 

“The Borrower continues to add to the value of this unique asset and has enhanced the property with great financing that further strengthens it for years to come,” stated Throne.

 

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 our newsroom.

Drew Jennewein

About Preston Giuliano Capital Partners

Founded in 2011, Preston Giuliano is a principal investor, backed by private capital with extensive financial resources. 

Preston Giuliano funds single asset and portfolio transactions from $2 million to $60 million.

 The firm seeks opportunities to acquire, rehabilitate, and reposition value-add, distressed, or troubled properties.

 Preston Giuliano capitalizes properties with enough equity to capture value opportunity and remove distress and employs low levels of leverage in doing so. Company leadership has more than ninety-five years of combined experience in real estate investment, development, and management.

CONTACT:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

us.jll.com/investorservices

jll.com.

Marcus & Millichaps Arranges $2.5 Million Sale of Taco Bell Property in Umatilla, FL

Debra L. Franklin

UMATILLA, 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 Taco Bell - Umatilla, FL, a 2,079-square foot net-leased property located in Umatilla, FL, according to Ryan Nee, Regional Manager of the firm’s Miami office. The asset sold for $2,570,000.

Justin R. Sturdivant

Debra L. Franklin, First Vice President Investments in Marcus & Millichap’s Miami office and Justin R. Sturdivant, Senior Investment Associate in Marcus & Millichap’s Nashville office, had the exclusive listing to market the property on behalf of the seller, a developer.

   

“The sale of the new construction Taco Bell brought its own unique challenges," said Franklin.

"Within weeks of bringing the opportunity to the market, the investment went under contract with an exchange buyer based in NYC; however, buyer’s down leg closing, despite hard deposits, was negatively impacted by COVID-19."  

Luke Sherlock

 "The long-term NNN Lease with annual rent increases was brought back out to the market mid-pandemic.” 

Umatilla is known as the Gateway to the Ocala National Forest in northern Lake County part of central Florida and considered to be a smaller market.

The corner site out positioned the competition and continues to post strong sales performance even with mandated dining room closures, thanks to its outstanding operator and their strategic growth strategy with the #4 TACO BELL Brand according to the recently published QSR 50/2020 – “capable of irreverent stunts in the middle of the pandemic.”

Taco Bell - Umatilla, FL, 356 North Central Avenue, Umatilla, FL.

The buyer, a Florida limited liability company, was secured and represented by Luke Sherlock.

CONTACTS:

Ryan Nee

Vice President

and Regional Manager

 Miami, FL

(786) 522-7000

Ocea Huggins
Acting Operations Manager – Miami Operations Manager – Orlando and Jacksonville
Marcus & Millichap 300 South Orange Avenue Suite 700 Orlando, FL 32801 (407) 557-3840 direct (407) 557-3800 main (407) 927-0313 mobile (407) 557-3810 ocea.huggins@marcusmillichap.com

www.MarcusMillichap.com.

Blackton to Provide Flooring Products for D.R. Horton’s Next “Express” Community in Davenport, FL

Michael “Micky” Blackton

Davenport, FL --- Blackton Inc., the Orlando firm that ranks as one of Central Florida ’s largest distributors of materials to homebuilders has been selected for the eighth time within the last year as the supplier of flooring at a new D.R. Horton community. 

Michael “Micky” Blackton, chief executive officer, said his firm will provide an estimated $900,000 worth of ceramic tile and carpeting in the construction of some 188 single-family homes at Meadow Walk Express, D.R. Horton’s newest Davenport community located on 4 Corners Boulevard in Davenport.

Blackton has been supplying D.R. Horton with building materials for more than 40 years.

Meadow Walk Express, D.R. Horton’s newest Davenport, FL community located on 4 Corners Boulevard 

“We’re like neighbors in the community working together, contributing to each other’s success and we plan to do everything we can to sustain that,” said Blackton.     

D.R. Horton’s Express Communities feature energy saving homes in a convenient location at an affordable price. 

Blackton, Inc., a family owned business headquartered on Alden St. near Ivanhoe Row north of downtown Orlando , has been supplying the home building industry from Jacksonville to Tampa for six decades.   This past April Blackton opened a 15,000 square foot location in Leesburg.

 CONTACT:

Michael “Micky” Blackton, CEO, Blackton, Inc.

407-898-2661 Micky@Blacktoninc.com

Beth Payan, Larry Vershel Communications

 407-644-4142 or 407-461-3781 beth@larryvershel.com

Marcus & Millichap Brokers $2.5 Million Popeyes Site Sale in Fort Pierce, FL

Debra L. Franklin

FORT PIERCE, FL, Aug.13, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Popeyes - Fort Pierce, FL, a 2,265-square foot net-leased property located in Fort Pierce, FL, according to Ryan Nee, regional manager of the firm’s Miami office. The asset sold for $2,528,486.

 Justin R. Sturdivant

Debra L. Franklin, First Vice President Investments in Marcus & Millichap’s Miami office and Justin R. Sturdivant, Senior Investment Associate in Marcus & Millichap’s Nashville office had the exclusive listing to market the property on behalf of the seller, a developer. 

Ryan Nee

“New Construction QSR with long-term absolute net leases in the State of Florida remain an asset class that attracts strong demand from 1031 Exchange Buyers, as well as private investors," said Franklin. 

"This investment opportunity went under contract while still under construction with a ten-day Inspection Period and closed escrow within a few days of receipt of CO.”   

The 3400-unit Popeyes brand demonstrated their strength to adapt to the needs of their consumers during the pandemic with same stores sales rising nearly 29% in the U.S. in quarter ending June 30.

  Recent post we loved from Popeyes Market Director - “Popeyes has been bullet proof during these unprecedented times.”

Popeyes - Fort Pierce, FL, 4946 South 25th Street

CONTACT:

Daniella Aragon
Daniella.Aragon@marcusmillichap.com

www.MarcusMillichap.com.