Ameriprise Financial to Relocate to Downtown Sarasota’s City Center

Kristin Kenney

SARASOTA, FL – Feldman Equities announced Ameriprise Financial, Inc. (NYSE: AMP) has signed a lease for over 6,200 square feet in downtown Sarasota’s City Center. 

The financial services company will relocate its office at 240 S. Pineapple Avenue to City Center at 1819 Main Street in early 2021. The long-term lease affirms Ameriprise’s commitment to its clients in downtown Sarasota.

Ceci Tricoli

The deal comes on the heels of the previously announced multimillion-dollar renovation to City Center.

 “The renovation plan is already impacting the building’s leasing,” said Baharea Larsen, Feldman Equities Executive Vice President for Leasing and Marketing.

Baharea Larsen

“Despite Covid-19, we are seeing interest from quality conscious firms for whom high-end finishes and amenities are a must. These tenants are making a long-term investment in their businesses and know they need to plan for a return to normalcy.”

                             Melissa Harris

Ameriprise will occupy the building’s 10^th floor which features expansive views of the waterfront and downtown skyline. 

Kristin Kenney of Cushman and Wakefield represented Ameriprise and Larsen, Ceci Tricoli, Melissa Harris, and Steve Horn brokered the deal on behalf of the landlord.

Jeremy St. Croix, AAMS^®, APMA^®, CRPC^®, Ameriprise Branch Manager said, “Ameriprise has really grown over the last decade in Sarasota and Central Florida.

Steve Horn

"Top advisors from across the industry are joining us to leverage our deep expertise in helping advisors grow organically and inorganically through practice acquisitions.

"Advisors are excited about the new, high-quality office space in Sarasota City Center that will help them deliver a superior client experience and give them ample opportunity for growth.” 

Jeremy St. Croix

Ameriprise is a publicly traded financial advisory firm headquartered in Minneapolis with over $970 billion in assets under management.

Founded in 1894, the storied company provides financial advice through wealth management, asset management, insurance capabilities and estate planning.

The most dramatic changes at City Center will be the complete renovation of the building’s lobby and entrance.

 City Center, Sarasota, FL

The announcement follows over 15,000 square feet of leasing at City Center since a joint venture of Feldman Equities, Tower Realty Partners, and Equity Street acquired the building in March 2020. The 248,000 square foot building was 80% occupied at the time of acquisition.

City Center boasts some of the best views in downtown Sarasota and still has a penthouse suite available said Larsen, “I’m not sure what has impressed prospects more – the views or the renovation plan.”

Contact:

Tammy Youngman 

TYOUNGMAN@assetmarketing

University City multi-housing project in Charlotte, NC moves forward with construction

Jane Wu
(photo courtesy Connect Commercial Real Estate)

 CHARLOTTE, NC – JLL Capital Markets announced it has arranged $44.5 million in financing for the development of Lumeo, a 314-unit, transit-oriented, multifamily project in the University submarket of Charlotte, North Carolina.

JLL worked on behalf of the developer, Panorama Holdings, LLC, to secure the construction loan through Broadshore Capital Partners.

“We’re committed to provide high-quality products bettering the living of the residents in the University City community,” says Jane Wu, president of Panorama Holdings. 

“Lumeo is strategically located at the center of University City Entertainment District, within walking distance to Topgolf, LYNX Station and Belgate Shopping Center. 

"We have confidence in Lumeo that its fascinating location and carefully designed luxury amenities will suit the dynamic and urban lifestyle here.”

Lumeo, a planned 314-unit, transit-oriented, multifamily project in                        the University submarket of Charlotte, NC

The JLL debt placement team leading the financing efforts included Senior Managing Director Hal Kempson and Director Taylor Allison.

JLL’s Project & Development Services group has been engaged to handle development and construction management for the property.

Hal Kempson

“Prior to the light rail’s delivery, the University submarket of Charlotte had been slow to develop,” said Kempson. 

“Now that the light rail is built out, we anticipate tremendous rent growth, similar to what we witnessed in the South End neighborhood.

 "Communities such as Lumeo are poised to benefit from this trend and will enjoy long-term stability, especially given the University market’s connectivity to UNC Charlotte and the recent inbound migration we’ve seen to secondary markets such as Charlotte due to the current pandemic.”

The first units at Lumeo are scheduled to be delivered in December 2020 and the entire project will be completed in 2021. 

The project comprises five garden-style buildings on a 10-acre parcel immediately adjacent to the University City Boulevard LYNX station and just one-half mile from Tom Hunter station. 

The community is centrally located in an amenity-rich area between UNC Charlotte and Uptown, deriving demand from both the student and professional population. 

Taylor Allison

With various one bedroom, two-bedroom and three-bedroom options, Lumeo features both outdoor community living and indoor relaxation space. 

Residents will enjoy the large upscale clubhouse, a resort-style saltwater pool with sun deck, and courtyards with gas grills, bar and fire pit.

 A full fitness center with a yoga room couples with a walking trail throughout the community that will be a perfect fit for an active lifestyle.

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

Contact:

Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

Freddie Mac provides loan to refinance top-performing Houston community

Hanover Southampton, 5122 Morningside Drive,
 West University neighborhood. Houston, TX

 HOUSTON, TX – JLL Capital Markets announced it has arranged financing for Hanover Southampton, a 206-unit multi-housing community in Houston’s affluent West University neighborhood.

 JLL worked on behalf of the developer, Hanover Company and State Farm, to secure the seven-year, fixed-rate loan through the Freddie Mac CME Program. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Cortney Cole

 Completed in 2015, Hanover Southampton is located at 5122 Morningside Drive within walking distance to Houston’s most historic mixed-use urban development, Rice Village, which boasts over 300 retailers and dining establishments.

Additionally, the property is proximate to Houston’s largest employment centers including Texas Medical Center, Greenway Plaza, Galleria and Downtown.

The 95-percent-leased community offers 12 floors of living with units averaging 1,435 square feet each. 

 Dustin Selzer

Community amenities include a 10,000-square-foot rooftop resident amenity lounge, rooftop pool, 24-hour concierge, Technogym fitness club, outdoor grilling stations, private theatre, executive conference room, bike storage, valet dry cleaning services and pet-washing station.

 The JLL debt placement team representing the borrower was led by Managing Director Cortney Cole and Director Dustin Selzer.

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

 
Contact:

Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com