Suburban Houston Chick-fil-A building sold to Florida buyer

Aziza Rehmatulla

HOUSTON, TX – JLL Capital Markets announced it has closed the sale of a 3,354-square-foot, single-tenant retail building ground-leased to Chick-fil-A in the Houston suburb of Sugar Land, Texas.

Brad Peterson

JLL marketed the property on behalf of the seller, North American Development Group. Coral Cables-based Riverstone Capital Group purchased the asset.

 Headquartered in College Park, Georgia, Chick-fil-A was founded in 1946 and has grown to include more than 2,400 stores in 47 states and Washington, D.C.

It is the third-largest restaurant chain in the United States in terms of sales. The Sugar Land location was constructed in 1996 and renovated in 2017.

Situated on 1.08 acres at 2330 Highway 6, the retail building is within the Market at Town Center, 2,265-acre, master-planned development and employment center in Sugar Land.

Whitaker Leonhardt

The property is surrounded by 1,655 multi-housing units, three hospitals, three million square feet of office space and 4.2 million square feet of retail space.

 The JLL Capital Markets team representing the seller was led by Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt, Directors Michael Brewster and John Indelli and Analysts Tommy Isola and Aziza Rehmatulla.

 “Chick-fil-A is special because of its excellent product, top-notch customer service and high-volume drive thrus,” Brewster said.

 “It’s no surprise that the company maintains such strong operations because its franchisee selection process is 30 times more selective than Harvard admissions.”

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

Michael Brewster

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales, 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.

 

About North American Development Group

John Indelli 

North American Development Group (“NADG”) has been active in the development, acquisition, redevelopment and management of over 250 shopping centers, mixed-use and residential developments comprising well over 35 million square feet across Canada and the United States.

 About Riverstone Capital Group

Riverstone Capital Group is a privately-owned real estate investment firm based in Coral Gables, Florida, focused on the acquisition and management of retail, industrial and office assets in the Southeast United States.

 

Tommy Isola

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

 

Central Pennsylvania retail acquisition financed

Claudia Steeb

 

PITTSBURGH, PA, Oct. 14, 2020 – JLL Capital Markets announced today that it has arranged acquisition financing for Greater Lewistown Plaza, a 185,282-square-foot, grocery-anchored shopping center in the central Pennsylvania community of Burnham.

 JLL worked on behalf of the borrower, Logan GL Holdings LLC, to place the fixed-rate loan with AmeriServ Financial.

 

Michael Klein 

Greater Lewistown Plaza is neighborhood shopping center anchored by Weis Markets, one of the oldest and most profitable supermarket companies in the eastern United States, which has been at the center since 1996.

 

The 185,000-square-foot property is also home to a diverse tenant mix that features national and local retailers including, CVS, Dunham Sports, Goodwill, Geisenger Care Works and Rent-a-Center.

The borrower plans on implementing a capital improvement program that will include systems and exterior upgrades.

 

Situated on 22 acres at 224 N. Logan Boulevard, the property is in Burnham, which is in Mifflin County approximately 60 miles from Harrisburg. Greater Lewistown Plaza has easy access to US Route 522, which connects the county to the rest of the state.

 

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Managing Director Michael Klein and Managing Director Claudia Steeb.

 

“We are pleased to have once again secured acquisition financing on behalf of Logan GL Holdings LLC,” Klein said. “Despite difficult market conditions, financing is still available for well-located, grocery-anchored shopping centers.” 

Gershon Alexander

“This purchase is in line with our strategy of buying grocery-anchored best-in-class shopping centers in the North East,” added Gershon Alexander, a principle of Logan GL Holdings LLC.

 “AmeriServ, based in Johnstown, Pennsylvania, was familiar with the property, and worked through all of the issues that arose throughout the financing process, providing great service to meet a tight acquisition closing deadline during challenging times for retail financing,” Steeb said.

 

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

 

JV partnership acquires 15-building Tampa, FL Flex property; JLL Capital Markets arranged the $31.75 million sale and $26.25 million loan for the deal

 

Jillian Mariutti

TAMPA, FL, Oct. 14, 2020 – JLL Capital Markets announced today that it has closed the $31.75 million sale of and arranged $26.25 million in financing for Breckenridge Park, a 15-building, 334,000-square-foot office and flex complex in Tampa, Florida.

 Bret Felberg

 JLL marketed the property on behalf of the seller, MLG/PF Breckenridge Investment LLC, which is affiliated with MLG Capital.

 A joint venture partnership between The Arden Group and Avistone purchased the asset.

Additionally, JLL worked on behalf of the borrower to place a floating-rate loan with BlackRock. 

Loan proceeds will be used to acquire the property and implement a capital improvement plan.

 Completed between 1982 and 1998, the complex is leased to a diverse mix of local and national tenants, the largest of which occupies 11.8% of the GLA.

Jeff Morris

Breckenridge Park is situated on 30 acres at Breckenridge Parkway in eastern Tampa, near multiple major Central Florida thoroughfares.

Those include Interstates 4, 75 and 275, U.S. Route 301 and the LeRoy Selmon Expressway, all providing access to Florida’s largest metro areas, along with several major MSAs in the southeastern United States.

 The JLL Capital Markets Investment Sales team representing the seller included Senior Director Bret Felberg, Senior Managing Director Jeff Morris, Managing Director John Dunphy and Associate Peter Cecora.

 The JLL Capital Markets Debt Placement team representing the new owner was led by Director Jillian Mariutti, Senior Director Brian Gaswirth and Associates Michael DiCosimo and Drew Jennewein.

“There was a lot of lender interest for this high-quality asset due to its industrial component, high performance throughout the market volatility due to COVID and best-in-class sponsorship with The Arden Group and Avistone,” Mariutti said.

John Dunphy

 “The buyers are well positioned to take advantage of the increased demand for flex product and ideal market fundamentals of greater Tampa.”

 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 sales, debt placement, equity placement or a recapitalization.

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

Peter Cecora

About MLG Capital

Founded in 1987, MLG Capital has created a diverse series of real estate-focused funds aimed at generating generous cash flow and appreciation over time.

 The company focuses on apartments, industrial, retail and office investments, and employs a value-add private real estate investment strategy with acquisition values ranging from $5 million to $60+ million in the small to mid-cap space.

 MLG Capital and related entities have acquired more than 24 million square feet of property, inclusive of over 19,300 multi-family units, with exited and estimated current value exceeding $2.5 billion across the United States.

Brian Gaswirth 

 About The Arden Group

Arden Group is a privately held, vertically integrated real estate fund manager, investor, and operator that owns and finances properties across the United States.

Since being founded in 1989, Arden Group has managed more than $8.8 billion of real estate assets and acquired and/or developed more than $4.4 billion of properties through joint ventures and discretionary investment funds.

Through equity and debt funds, Arden Group is focused on investing in and lending to value-add properties located in larger U.S. markets with demonstrated positive demand factors and historical market resiliency.

Michael DiCosimo

Avistone is a commercial real estate investment firm specializing in the acquisition and operation of multi-tenant flex/industrial and business parks nationwide.

Avistone has acquired and managed more than 3.6 million square feet of industrial space in California, Georgia, Ohio, Texas and Florida.

 About JLL

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

Drew Jennewein

 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.

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. For further information, please visit jll.com.

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

 

Hospitality Asset Managers Association (HAMA) Release 'Fall 2020 Industry Outlook Survey' Results

 

Kim Gauthier

            BOSTON, MA, Oct.14, 2020—The Hospitality Asset Managers Association (“HAMA”) today released the results of a wide-ranging survey of asset managers' thoughts, experiences and forecasts for the upcoming year as the hotel industry continues to deal with the on-going pandemic. 

 With more than 100 participants, topics ranged from the impact of COVID-19 on RevPAR to which major brands were viewed as having most effectively addressed guest health and safety concerns. 

 

The survey also went into depth on the current and future financial status of participant hotels and made predictions on when the recovery will proceed.

             The survey was conducted in preparation for HAMA’s 2020 Annual Fall Meeting, which was held virtually in response to the pandemic.  In total, 103 asset managers comprising more than half of membership participated in the survey. 

             “The pandemic has decimated the hospitality and other service-related industries, likely changing the way hotels operate for years to come," said Kim Gauthier, senior vice president of Hotel Asset Value Enhancement and current president of HAMA. 

  "The hotel industry has a unique opportunity to ‘reinvent’ itself as it responds to the crisis, elevating cleaning protocols and embracing technology trends, which ideally will lead to a stronger industry once we find ‘the new normal.’”

“Our membership responses provide valuable insight into what asset managers are dealing with today, the lack of visibility into the future and what business changes are here to stay.  These are very real concerns.’”    

 

Survey findings show that:

 ·        ·                     Nearly 60 percent are predicting a 50-75 percent decline in RevPAR versus budget for their entire portfolio.

 ·        ·                     While 32 percent of respondents believe non-CMBS debt providers have been flexible partners, 40 percent feel they have only been somewhat flexible, and five percent don’t believe they’ve been flexible at all.

·        ·                     For the 32 percent who did feel their lending partners were being flexible, most of them (41.67 percent) believe that flexibility will end in 4Q20.

·        ·                     A full third of membership has concerns that they will either have to hand back keys to their lender or be forced into a sale situation.

·        ·                     Nearly half (43.69 percent) predict a 45-60 percent RevPAR decline in 2021 compared to 2019 for their full-service hotels.

·        ·                     More than a third (35.92 percent) anticipate a 15-30 percent RevPAR decline in 2021 compared to 2019 for their select- and limited-service hotels.

·        ·                     Nearly half (41.75 percent) believe industry RevPAR will return to 2019 levels in 2023.  On the more optimistic side, 6.8 percent feel those levels will return in 2022, while 3.88 percent think it will take as long as 2026 to reach those levels again.

 CONTACT:

 CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

 

Mailmatic, a new automated direct mail program for Realtors, has secured coast-to-coast adoption as Realtors shift their marketing strategy amid a pandemic.

 Brianne Baggetta

 ALBANY, NY --- In the midst of a pandemic, real estate agents have started to shift their marketing strategy to maximize their resources. Namely, they are learning to be more efficient with the tools they utilize to attract prospective buyers and sellers.

 The Mailworks, an Upstate N.Y.-based direct mail and printing company, has devised an innovative marketing approach tailored to meet the real estate industry’s changing needs.

The program, MailMatic for Realtors, is a monthly, automated direct mail program that allows realtors to set up a full year of direct mail in one simple setup.

 

Gina Covello

 Inspired by the real estate farming technique, MailMatic allows realtors to seed a target audience and cultivate more leads.

The program is already seeing widespread success, appealing to realtors’ increased need for time and budget efficiency. The fully automated program offers pricing at only 58¢ per direct mail piece, including postage, and features high quality direct mail creatives that are branded specifically for each agent.

Jennifer (Jen) Wilson

“Real estate agents, now more than ever, need targeted tools to be able to break through the noise,” said Brianne Baggetta, president and CEO, The Mailworks. “With MailMatic, agents are able to develop campaigns that are laser-focused and attractive to broaden their reach.”

The program is an early success among realtors:

“I’m always looking for innovative ways to build my personal brand, and MailMatic for Realtors is my secret weapon. Direct Mail is such a powerful tool for realtors and I love that this program automates so I never have to worry about it. I highly recommend it to other realtors,” said Gina Covello, a California-based realtor.

“This is the easiest, most straightforward marketing program that I’ve encountered. It’s been a breeze working with the Mailmatic team—their attention to detail is greatly appreciated. I’d recommend this program to any realtor who is very busy, but still wants to build their personal brand,” said Nick Butcher, a Tennessee-based realtor.

Nick Butcher

"Before using MailMatic, my marketing efforts were reactive and stressful. I was always scrambling to get something out the door once my pipeline dried up," said Jen Wilson of Keller Williams based in Albany, N.Y.

  "MailMatic's automated mail has given me peace of mind knowing that something is always going out to help me build my reputation, even while I'm not working.”

 For more on Mailmatic, please visit themailworks.com/mailmatic-for-realtors.

Additional company information can be found online at TheMailWorks.com, on Facebook (fb.com/themailworks), and on Instagram (@themailworks). 

CONTACT:

 Joe Bonilla

Managing Partner

Senior Media Director

Relentless Awareness LLC - relentlessaware.com - @relentlessaware
OFFICE: 19 Dove Street, Suite 103, Albany, NY 12210 | MAIL: P.O. Box 3083, Albany, NY 12203
TWITTER: @joe_bonilla | EMAIL: joe@relentlessaware.com
VOICEMAIL: 518.227.1155 | OFFICE: 518.813.4905 x707

 themailworks.com