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| Jennifer Swanson |
ORLANDO, FL – JLL Capital Markets announced it has arranged construction financing for the development of Crescent B Commons, a 82,640-square-foot, Publix-anchored neighborhood shopping center in the Babcock Ranch community, northeast of Fort Myers, Florida.
JLL
represented the developer, Kitson & Partners, to arrange the loan through
Ameris Bank.
 |
| Tarik Bateh |
The JLL Capital Markets team representing the borrower was led by Senior Director Tarik Bateh and Associate Jennifer Swanson.
“Babcock Ranch is among
the most exciting, fastest growing communities in Florida; thanks to the vision
and commitment of Kitson & Partners,” said Bateh.
“These traits, combined
with Publix’s status as Florida’s dominant grocer, enabled us to attract robust
interest in the construction loan request for Crescent B Commons.”
Tom Hoban
“As Babcock Ranch continues to grow, we are excited to
offer our residents and neighbors in the area the convenience of a nearby
Publix and additional services, shops and multiple dining options,” said Kitson
& Partners’ President and Chief Investment Officer, Tom Hoban.
Construction on Crescent B
Commons began in August 2020, and the Publix-anchored shopping center
already boasts significant pre-leasing momentum and drawing power for best-in-class, daily
needs-based retailers.
Construction is slated to be
completed in Summer 2021, with the Publix opening shortly thereafter to serve
the burgeoning Babcock Ranch community.
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| Renderings of planned Crescent B Commons |
Crescent B Commons is located at the front door of Babcock Ranch, Kitson & Partners’ award-winning master-planned community.
America’s first solar-powered
town topped RCLCO’s 50 Top-Selling Master-Planned Communities’ (MPC) rankings
in 2020 with the highest year-over-year growth of 121 percent.
Babcock Ranch was also named
Master-Planned Community of 2020 by Lee Building Industry Association.
Babcock
Ranch’s wide array of homes are being built to Florida Green Building Coalition
standards, which emphasize energy and water conservation and offer residents a
full gig of fiber-optic connectivity.
Builders include Lennar, Pulte
Homes, DR Horton and Meritage Homes, among others. Babcock Ranch was created
with respect for the natural environment and the philosophy that smart growth
and sustainability work hand in hand.
CONTACT:
Natalie
Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307
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