Wednesday, October 21, 2020

Orlando-area KFC retail location sells for $1.64 million

KFC Building, 16800 West New Highway 441, Mount Dora, FL

ORLANDO, FL – JLL Capital Markets announced it has closed the $1.64 million sale of a 2,280-square-foot, single-tenant retail building ground leased to KFC Corporation in the suburban Orlando community of Mt. Dora, Florida.

Brad Peterson

 JLL marketed the properties on behalf of the seller, SunCap Opportunity Fund, LLC. A private investor purchased the asset.

 Founded in 1952, KFC Corporation is based in Louisville, Kentucky, and is one of the largest fast food chains in the world based on sales and locations.

KFC, which is considered the world’s most popular chicken restaurant chain, has operated at this location since the building was constructed in 1988 and recently recommitted to this location with a new 20-year ground lease.

Situated on 0.7 acres at 16800 W. New Hwy 441, the building is in Mt. Dora, a community in Lake County’s Golden Triangle area 25 miles northwest of downtown Orlando, and has frontage along US-441, which sees 51,000 vehicles per day.

Michael Brewster 


Renovated in 2013, this KFC is the second most visited KFC out of 19 locations within a 30-mile radius.

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

 “The secret recipe on this sale was a recent long-term renewal, strong sales and excellent real estate in a growing submarket of the Orlando MSA,” Brewster said. “Every investor should have a ‘bucket’ of capital for KFC and similar quick-service restaurants.”

 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. 

Joseph Naas

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 SunCap Opportunity Fund, LLC

SunCap Opportunity Fund, LLC invests in quality real estate in the Southeast United States focusing on assets with solid underlying fundamentals which provide both a current cash yield and income growth potential with the implementation of new management, recapitalization, and capital improvements. 

SunCap's management team has closed over $2 billion of acquisitions, including building a $500 million publicly traded international real estate fund from 1996 thru its disposition in 2010.

  Contacts: 

 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

 

 George Shea, Mark Faris

Company: Shea Communications

Phone: +1 212 627 5766

Email: mfaris@sheacommunications.com

  us.jll.com/capitalmarkets

  jll.com

 

Old Three Hundred Capital lands $27 million in acquisition financing for Cannon Oaks Apartments in Austin, TX

Cannon Oaks Apartments, 12 buildings, 230 units, Austin, TX

 AUSTIN, TX — JLL Capital Markets announced has arranged $27.1 million in acquisition financing for the purchase of Cannon Oaks Apartments, a multi-housing property in Austin, Texas.

Marko
Kazanjian

 JLL worked on behalf of the borrower, Old Three Hundred Capital, to secure the loan through Prime Finance. ArrowMark Partners was also engaged as a capital partner.

 Built in 2001, Cannon Oaks Apartments is a 12-building, multi-housing complex with 230 residential units positioned on about 18 acres.

The property contains two-, three and four-bedroom apartments with an average of 1,000 square feet. All units offer washer/dryer connections and covered, outdoor patios or balconies.

Chris McColpin

The complex features a recently renovated resident clubhouse,  pool,  new fitness center and ample parking.

 Much of the property recently underwent significant renovations, bringing updated amenities and finishes. Old Three Hundred is utilizing its in-house vertical of affiliate companies to operate and manage the property. 

 Located on William Cannon Drive, a major east-west thoroughfare in South Austin, the property offers convenient access to the city’s best dining, shopping and cultural institutions.

 It is in close proximity to I-35, Loop 1, downtown Austin, McKinney Falls State Park and Austin Bergstrom International Airport.

Jackson Finch

 The JLL Capital Markets team representing the borrower was led by Senior Directors Marko Kazanjian and Chris McColpin, Managing Director Rob Hinckley, Associate Jackson Finch and Analyst Andrew Cohen.

Rob Hinckley

 Old Three Hundred Capital Partners William Gottfried, Paolo Boero and Nicholas Yarnall represented the company in-house. The ArrowMark team is led by Rob Brown and Nathan Rillstone.

 “Cannon Oaks Apartments, with newly refreshed amenities, unbeatable greenbelt views and a highly convenient location made for an extremely attractive investment,” said Gottfried.

“As the city and region continue to grow, the property is positioned to perform well, and provides a naturally affordable alternative to like-kind assets in the submarket.

 William Gottfried

"Marko, Chris and the JLL team worked extremely hard to help facilitate this transaction, and we are excited to work with Prime and ArrowMark on the first of what we believe will be many deals together."

 “Cannon Oaks offers a dynamic work-live-play environment that has become increasingly more important for renters,” added Yarnall.

“The unit makeup, including a majority of three- and four-bedroom units, outdoor space, close proximity to some of Austin's best greenspaces, excellent communal amenities and flexible commuting choices make this an ideal rental option in the Austin area for both young professionals and families looking for more space, but at a better price point than single family options in the area.”

Paolo Boero

 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.

Nicholas Yarnall 

 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.  


Rob Brown
Nathan Rillstone
Contacts: 

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

 

 George Shea, Mark Faris

Company: Shea Communications

Phone: +1 212 627 5766

Email: mfaris@sheacommunications.com

  us.jll.com/capitalmarkets

 

JLL Capital Markets boosts West Coast platform with key hire of Adam Lasoff

 

Adam Lasoff 

SAN FRANCISCO, CA, Oct. 21, 2020 – JLL Capital Markets announced today the addition of market-leading investment advisor Adam Lasoff as a Managing Director in San Francisco.

The hire bolsters JLL’s Capital Markets presence in the Bay Area and amplifies the growing national Corporate Finance and Net Lease platform.

“We are thrilled to have Adam join our team,” Rob Hielscher, co-head of JLL’s Capital Markets team in the Bay Area, added.

 “He is one of the most well-respected capital markets advisors in the Bay Area and will add value for our clients in numerous service lines including corporate finance, investment sales and equity placement.

Rob Hielscher




"This hire highlights that JLL continues to add key personnel to our Capital Markets team locally and nationally, regardless of market conditions.”

 In his new role, Lasoff will be responsible for leading the team’s Corporate Finance and Net Lease business in Northern California.

 Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

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

  Contacts: 

 Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

 jll.com.

$100 million investment secured for Fulton Market development

 

1400 Randolph Street Apartments, 278 Units,
25-stories, West Loop Neighborhood, Chicago, IL


CHICAGO, IL – JLL Capital Markets announced it has capitalized the development of a 278-unit, fully-amenitized apartment tower at 1400 Randolph St. in the heart of Chicago’s vibrant West Loop neighborhood and booming Fulton Market district.  

 JLL represented the developer, Marquette Companies, to secure a pension fund equity partner and construction loan for the project.

Darren Sloniger

The JLL Capital Markets team representing the borrower was led by Managing Director Matthew Schoenfeldt.

The senior financing was provided by Bank OZK. Seasoned industry leaders, Marquette partnered with Power Construction, a Chicago-based company that has operated for over 90 years, to build the development with an expected completion date of Spring 2022.

 1400 Randolph Street is a 278-unit, 25-story, high-rise development boasting luxury apartment living, with clean lines, modern design, coworking spaces, a state-of-the-art fitness center, club room with a demonstration kitchen and pool to be located on the 18th floor.

Matthew Schoenfeldt

The remarkable views capture the renowned 12.77-acre Union Park and to the east, the iconic Chicago skyline.

 Chicago’s West Loop neighborhood is home to the area’s most premiere and world-class shopping and night life. For the food lovers, Randolph Street is also known as “Chicago’s Restaurant Row” and touts Michelin-star restaurants and the city’s most vibrant dining scene.

The development is also transit-friendly, just steps away from the L train Ashland Station, allowing direct access to The Loop or any corner of the city.

 “I am grateful to JLL for tenaciously pursuing solutions on our behalf as well as the team at Bank OZK who stood with us to help make this project a reality,” said Darren Sloniger, President and CIO of Marquette Companies.

  “It has been extraordinarily rewarding to represent Marquette in capitalizing this marquee project,” said Schoenfeldt. “Marquette, their institutional partner and Bank OZK have been steadfast in their commitment to 1400 Randolph, which is a testament to the fundamentally compelling concept.”

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

  Contacts: 

 Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

 

jll.com.

The Forgatch Group Joins Illustrated Properties in Jupiter, FL Office

 John Forgatch

 

Jupiter, FL, Oct. 21, 2020 – Illustrated Properties has announced that The Forgatch Group, led by top agent John Forgatch, joined the real estate brokerage in Jupiter.

 

The Forgatch Group also includes longtime real estate professionals Toniann De Santis and Jennifer Shenkman.

 

Toniann De Santis

  Located at 300 W. Indiantown Rd, The Forgatch Group brings a wide range of expertise in waterfront properties, club communities, oceanfront condominiums and family-oriented communities.

 

Before joining Illustrated, The Forgatch Group spent six years working with Keller Williams Realty of the Palm Beaches. 



Janet Shenkman

 

Forgatch is considered one of the top agents in the area, bringing a standard of excellence that led to his selection as one of America’s Top 100 Real Estate Agents® for 2019. The award honors the top 1% of active Real Estate Professionals in the United States.

 

Illustrated, part of the Keyes Family of Companies, is the largest family-owned brokerage in Florida, a top-30 nationally ranked brokerage and a leader in luxury residential sales in South Florida.


Mike Pappas

 

“The addition of John Forgatch and his accomplished group provides us with a major asset in a critical market,” said Illustrated President and CEO Mike Pappas. “John is a passionate Realtor with the ability to optimize our exposure through his intimate knowledge of the area as a resident of Jupiter.”

  

 Contacts: 

 Eric Kalis

 BoardroomPR

ekalis@boardroompr.com

954-370-8999

 

 

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

 

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322


Web | Facebook | LinkedIn | Twitter | Instagram

 

Hold-Thyssen’s Site Selection Aids Painting Contractor's Growth Plans at Brooksville, FL Industrial Park

 

Carol L. Kinnard 

BROOKSVILLE, FL --- Carol L. Kinnard Transaction Specialist at Hold-Thyssen, Inc., a full-service commercial property firm in Clearwater and Winter Park, recently assisted a fast-growing commercial / residential painting firm with a new location  that will facilitate its growth in the Spring Hill area.

 After identifying several spaces, Kinnard negotiated a multi-year lease agreement on behalf of tenant Torre Painting, LLC for 1,230 square feet at the select location: 13419 Chambord St. in the Brooksville Industrial Park. 

 Frank and Celia Torre have overseen dynamic growth of their business, adding team members who are now working out of the new location.

  Contacts: 

 Richard J. Fisher, Vice President/Investor Services, 

Hold-Thyssen, Inc. 727-238-3876 ext 303 

Rfisher@HoldThyssen.com

 Robert P. Hold, Principal, Hold-Thyssen, Inc.

407-691-0505, 

bhold@HoldThyssen.com

 Beth Payan, Larry Vershel Communications Inc.

407-644-4142

 Lvershelco@aol.com

 

Humphreys and Partners Architects Renew 7.106-SF Lease in Maitland, FL

 

 Mary Frances West

 ORLANDO, FL – Mary Frances West, CCIM, Vice President at NAI Realvest, represented the landlord, Horatio Florida Partners, LLC in the renewal of a long-term tenant at the Horatio Professional Center, 541 East Horatio Avenue, Maitland, Florida.

  Humphreys and Partners Architects, LP occupy suites B & D with 7,106 SF and have been in this same location since 2001. 

 

About NAI Realvest

 

NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. 


 Contacts: 

 

Mary Frances West, CCIM, Vice President, NAI Realvest

407-875-9989, mfwest@realvest.com

 

Patrick Mahoney, President/CEO, NAI Realvest,

407-875-9989 pmahoney@realvest.com

 

 www.nairealvest.com.