TownePlace Suites Columbus North-OSU Opens in Upper Arlington, Ohio

 TownePlace Suites Columbus North-OSU, 1640 West Lane Avenue, 
Upper Arlington, Ohio

 UPPER ARLINGTON, OH – TownePlace Suites by Marriott, part of the Marriott portfolio and loyalty program, announced the opening of its newest property, TownePlace Suites Columbus North-OSU.

The hotel features 119 suite-style rooms designed to allow extended stay travelers to feel at home and stay productive. The hotel is owned by a joint venture comprised of Dublin, Ohio-based Crawford Hoying, a leading full-service real estate company, and Shaner Hotels, an award-winning, international hotel owner, operator and developer.  Shaner also operates the property.

Plato Ghinos

 ”Our successful track record operating Marriott-branded hotels makes the TownePlace Suites Columbus North-OSU a perfect fit with our existing portfolio of well-branded hotels in strong markets with multiple demand generators,” said Plato Ghinos, president, Shaner Hotels. 

 “With its fantastic amenities and location in the heart of a thriving neighborhood, we fully expect the property to quickly take its rightful place as the market and segment leader.”

 The TownePlace Suites Columbus North-OSU offers spacious suites, each equipped with a full kitchen, a dedicated home office and room to relax in a separate living space.

The hotel also offers complimentary breakfast, free Wi-Fi, on-site laundry and a slew of additional amenities.

 Brent Crawford

Common areas in the hotel include an expansive lounge with soft seating, a high-end business center, state-of-the-art fitness center and an easy-to-access “In A Pinch” market, open 24/7.

 Located at 1640 West Lane Avenue in the heart of Upper Arlington, TownePlace Suites Columbus North-OSU is just steps away from numerous nearby dining and retail establishments, including Hudson 29 Kitchen + Drink, Whole Foods Market, the Shops on Lane Avenue and more.

It’s conveniently located within a five minute drive of The Ohio State University campus, 10 minutes from downtown Columbus and easily accessible from SR-315.

 “The vibrant Upper Arlington community, with its numerous dining and entertainment options, is an ideal location for the TownePlace Suites Columbus North-OSU,” said Brent Crawford, principal of Crawford Hoying. “The extensive amenities and large suites make this hotel the perfect option for visitors searching for a relaxing stay in the city.”

 The TownePlace Suites Columbus North-OSU is part of the Westmont at The Lane mixed-use development, which will include 133 for-rent apartments, eight for-sale townhomes, a 395-space public parking garage, 110-space public parking lot and 32,000 SF of office, retail and restaurant space (tenants to be announced soon).

 For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

 Bridge Park, www.bridgepark.com, Westmont at The Lane, www.westmontatthelane.com, and Water Street District, www.livewaterstreet.com, are examples of Crawford Hoying’s transformational development capabilities. 

 

 CONTACT:

 CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

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 chris@dalygray.com | www.dalygray.com

www.towneplacesuites.marriott.com.

www.shanercorp.com.

www.crawfordhoying.com.

www.westmontatthelane.com.

 

 

$24 million in acquisition financing secured for Long Island City flex building

 

The three-story, 97,047-rentable-square-foot property is currently 100% leased to Apex Technical School. 

NEW YORK, NY — JLL Capital Markets announced it has arranged $24 million in acquisition financing for 24-02 Queens Plaza South, a single-tenant flex building in Long Island City, Queens.

Christopher Peck

 JLL worked on behalf of the borrower, Botanic Properties, to secure the fixed-rate acquisition financing through MSD Partners.

 The three-story, 97,047-rentable-square-foot property is currently 100% leased to Apex Technical School. Apex Technical School has occupied the property since 2012.

 The building is in the Queensboro Plaza and Court Square neighborhood, which is home to young professionals and families and is proximate to a variety of dining, entertainment and cultural amenities.

The area offers numerous commuting options to Manhattan and the rest of New York City, with the F, N, W, 7, E, M, G and R trains all within walking distance.

 The JLL Capital Markets team representing the borrower was led by Senior Managing Director Christopher Peck, Managing Director Steve Klein and Vice President Thomas Pryor.

Steve Klein

 “Long Island City is highly attractive to businesses seeking value rents, highly-educated employees, abundant transit options, proximity to peer companies and a dynamic live, work, play environment,” Peck said. 

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.

 

Thomas Pryor

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

 us.jll.com/capitalmarkets

RegencyCenters.com.

George Shea, Adelaide Bullock

Company: Shea Communications

Phone: +1 212 627 5766

Email: abullock@sheacommunications.com

 

Largest Dunkin’ location in Palm Beach County, FL sold

The Lantana, FL asset is located in Palm Beach County
 on 0.81 acres at 1101 South Dixie Highway

ORLANDO, FL – JLL Capital Markets announced it has closed the sale of a 3,000-square-foot, single-tenant retail building in Lantana, Florida, that is ground-leased to Dunkin’ and representing the largest Dunkin’ location in Palm Beach County.

Brad Peterson

 JLL marketed the properties on behalf of the seller, Regency Centers. A private investor purchased the asset.

Situated on 0.81 acres at 1101 S. Dixie Hwy. in Lantana, the property is in a dense, infill location along US 1 nine miles south of West Palm Beach and 31 miles north of Fort Lauderdale.

 Dunkin’ is an American global donut company and coffeehouse based in Canton, Massachusetts. 

Founded in 1950, the company is a leading coffee and baked goods chain with more than 13,000 restaurants in 41 countries.

 Additionally, the property is in the grocery-anchored Lantana Village Square and adjacent to a proposed multi-housing development that would add nearly 280 units.

Whitaker
Leonhardt

The building, which was completed in 1981, features a drive-thru, making this Dunkin’ location one of only 40% of all locations that have drive-thru capabilities.

 The JLL Capital Markets team representing the seller was led by Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt, Director Michael Brewster and Analyst Joseph Naas.

 “It’s true that ‘America runs on Dunkin’,’ as the brand has received industry recognition for the fastest drive-thru service in the business,” Brewster said. “For many customers and investors, nothing is more essential than a cup of coffee.”

 

Michael Brewster 

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.

 

Joseph Naas

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

 us.jll.com/capitalmarkets

RegencyCenters.com.

 

1,200-unit self-storage portfolio trades in suburban Nashville, TN

 

Steve Mellon

NASHVILLE, TN – JLL Capital Markets announced it has closed the sale of a self-storage portfolio consisting of two new facilities totaling 1,200 units in Murfreesboro, Tennessee. 

 JLL marketed the properties on behalf of the seller, Utah-based Wasatch Storage Partners. Reliant Real Estate Management purchased the facilities.

 The portfolio comprises the 662-unit Salem Glen Self Storage facility at 3450 Glenside Ct. and the 538-unit CubeSmart facility at 1932 Cason Ln.

Glenside Court was completed in 2005 and expanded in 2017. The well-maintained property has a mix of 177 climate- and 485 drive-up, non-climate-controlled units along with modern security features.

 Brian Somoza 

The Cason Lane property was completed in 2017 and expanded this past spring to add 57 RV parking units. 

The unit mix includes 244 climate- and 237 drive-up, non-climate-controlled units, and the facility was designed to institutional-quality standards with modern security features.

Both properties are within three miles of at least 1,000 multi-housing units in various stages of development.

 The JLL Capital Markets team was led by Managing Director Steve Mellon and Managing Director Brian Somoza along with Executive Vice President Bo Fulk. 

 “Nashville is one of the fastest-growing cities in the United States right now, and, with a flood of new young professionals and families moving into the area, housing is limited, so people are looking at alternatives to the city,” Mellon said.

Bo Fulk

 “Murfreesboro is a short drive from Nashville and is experiencing enormous residential growth, making this portfolio ideal for investors looking to capitalize on the increased need for storage due to an influx of residents.”

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

 

us.jll.com/capitalmarkets

 

New Jersey mega-distribution center receives $25 million refinancing

 

500 Meadowland Parkway, Secaucus, NY

 MORRISTOWN, NJ – JLL Capital Markets announced it has arranged a $25 million refinancing for the fully leased, 706,487-square-foot distribution center at 500 Meadowland Pkwy. in the suburban New York City community of Secaucus, New Jersey.

 JLL worked on behalf of the borrower, 500 Meadowland Parkway, L.L.C., to place a fixed-rate loan with Hartford Investment Management Company (HIMCO). JLL will service the loan, proceeds of which will be used to refinance the existing debt.

 The property is situated on 32.475 acres within the 750-acre Harmon Cove development, which was developed by the borrower.

Thomas Didio

Harmon Cove is three miles from Manhattan via the Lincoln Tunnel and proximate to Port Newark-Elizabeth and the Newark Liberty International Airport. 

500 Meadowland Pkwy. is accessible via multiple New Jersey Turnpike exits, and multiple New Jersey arterials that connect to Interstates 80, 95 and 280 are easily accessible from the property.

 Completed in 1977, the building has been renovated and expanded multiple times over the years. The original tenant, a large retailer that has occupied the property since 1978, uses the property as a distribution warehouse and office space.

The building features 24- to 26-foot clear heights, 200 loading docks and substantial truck and car parking on site.

 The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Managing Director Thomas Didio.

 “HIMCO did a great job committing and closing this loan during this difficult time and looks forward to doing more business with such a strong borrower,” stated Didio.  “We are pleased to play a role in providing the financing for the borrower for this project.”

 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

 us.jll.com/capitalmarkets

 

New industrial project coming in Phillipsburg, N.J. within the I-78 Corridor

 

MORRISTOWN, NJ,  Sept. 25, 2020 – JLL Capital Markets announced today that it has arranged joint venture equity and construction financing for the development of Phillipsburg Logistics Center at 78, a 511,200-square-foot, Class A speculative industrial building in Phillipsburg, New Jersey, which is part of the Lehigh Valley Industrial submarket.

 JLL worked on behalf of the developer, J.G. Petrucci Co, Inc., to arrange the joint venture partnership with an institutional real estate investor.

Jon Mikula

Additionally, working on behalf of the new partnership, JLL placed a three-year construction loan with Provident Bank. 

Project completion is anticipated in the summer of 2021. JLL will also be retained as the leasing agent.

 

The building will be constructed on 66 acres at 39-41 Strykers Rd., which is part of the Lehigh Valley Industrial market, which is considered a top five industrial market nationwide for users, developers and institutional investors.

 

This location is proximate to the nation’s largest population centers, primary transportation arteries and major cities along the Eastern Seaboard.

 

One-third of the nation’s population can be reached within a 24-hour drive from the property. The property, which will feature 36-foot clear heights, 86 loading positions, two drive-in doors, 109 trailer parking stalls, wide column spacing and an ESFR sprinkler system will be built to new generation building specifications and will be considered a best in class speculative warehouse.

John Plower

The JLL Capital Markets team representing the developer was led by Senior Managing Directors Jon Mikula and John Plower, while Executive Vice President Jeff Lockard will lead the charge on the leasing efforts on behalf of the partnership.

 

“We are excited and proud to be a part of this new J.G. Petrucci project, which demonstrates the significant demand for state-of-the-art warehouse/distribution facilities in our region,” Mikula said.

 

“Given its proximity along I-78 to the Ports of New York and New Jersey along with its phenomenal labor force, the Phillipsburg pocket of the Lehigh Valley is extremely attractive to developers, capital sources and, most important, industrial users,” Plower added.

 

“This was a great investment for our client, and we’re excited to see it through to completion.”

 

 Jeff Lockard 

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

  For more information on J.G. Petrucci Company, Inc.,please visit www.jgpetrucci.com or call 908.730.6909.      

 

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

 

us.jll.com/capitalmarkets

 

Invictus Real Estate Partners lands $107.25M in acquisition financing for The Waypointe in Connecticut

 

The Waypointe apartments, 515 West Avenue, Norwalk, CT

 NEW YORK, NY — JLL Capital Markets announced it has arranged $107.25 million in acquisition financing for the purchase of The Waypointe, a multi-housing property located at 515 West Ave. in Norwalk, Connecticut.

 JLL worked on behalf of the borrower, Invictus Real Estate Partners, to secure the loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. 

Scott Aiese

The Waypointe is a multi-housing development with ground-floor commercial space. The property offers 464 apartments and 56,000 square feet of retail and restaurant space. 

Apartments include one-, two- and three-bedroom units, and feature high ceilings, large windows, and modern design.

Residential units are currently 93-percent occupied and the Class-A retail and restaurant spaces are 74 percent leased.

 The property consists of two buildings with community amenities including two parking garages allowing 1,027 spaces for residents, a fitness center and an outdoor heated, salt-water pool. 

The Waypointe boasts a lively community, positioned along a restaurant-lined pedestrian street and open-air plaza. The complex is currently home to popular restaurants and retail options such as Barcelona Wine Bar, Colony Grill, and a JP Morgan Chase bank. 

Eric Scheffler

The brick facade treatments and strategically-placed tower design elements add architectural interest and a historic aesthetic to the community.

 Located in the heart of Connecticut’s vibrant Fairfield County, The Waypointe is one hour away from Manhattan, offers convenient access to I-95, and is minutes from the MTA’s South and East Norwalk train stations.

 It is also in close proximity to employment hubs like Greenwich and Stamford, CT.

 “We have been an investor in the development of these Norwalk properties since 2014, and we are happy to add The Waypointe to our portfolio,” said Eric Scheffler, managing principal of Invictus Real Estate. “This acquisition is part of our business plan to acquire institutional quality, transit-oriented multi-housing properties, concentrated in key growth markets.” 

Peter Rotchford

 The JLL Capital Markets team representing the borrower was led by Managing Director Scott Aiese, Senior Director Peter Rotchford, Vice President Alex Staikos, and Analyst Brendan Collins. 

 “The Waypointe is a multi-housing property offering easy access to New York City,” said Aiese. “The property is a highly attractive destination in the current environment, when increasing numbers of renters are seeking high-end amenities, abundant outdoor space, flexible commuting options and a dynamic community with restaurants and retail.” 

 “Properties like The Waypointe, with Class-A amenities and an ideal location are rare,” added Rotchford. “The property will benefit from the growing number of renters seeking alternatives to densely populated urban areas and a better work-life balance.” 

 “Multi-housing debt terms – specifically, interest only periods, leverage, and coupons – are the best I’ve seen in my career, due to record liquidity levels combined with historically low US treasury rates,” continues Aiese.

Alex Staikos

 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.

. CONTACTS:

 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

 

George Shea, Adelaide Bullock

 Shea Communications

Phone: +1 212 627 5766

Email: abullock@sheacommunications.com