EagleBridge Capital Arranges $6 Million Financing for Hurley Farms Business Park in Oxford, CT

Hurley Farms Business Park

                   situated on 20 acres on Hurley Farm Road 

                        within 2 miles of Interstate Route 84 

                            and within 6 miles of Route 8 

 

 Oxford, CT -- EagleBridge Capital has arranged permanent mortgage financing in the amount of $6,000,000 for the Hurley Farms Business Park located in Oxford, Connecticut.

 The mortgage financing was arranged by EagleBridge Director Brian Walsh who stated that the loan was provided by a leading regional bank.

Brian Walsh 

 

The Hurley Farms Business Park is composed of nine flex/industrial buildings ranging in size from 12,900 square feet to 21,000 square feet and totaling 134,700 square feet.

 The Park is situated on 20 acres on Hurley Farm Road within 2 miles of Interstate Route 84 and within 6 miles of Route 8. 

 The property is located approximately one mile from the Waterbury-Oxford Airport which has the highest concentration of general aviation usage in Connecticut.

 The buildings are fully leased to a diverse variety of local, regional, national, and international tenants occupying from 2150 square feet to 20,000 square feet of space.

 

 Industries represented include moving, gas transmission, product development, craft brewing, high performance x-ray products, education solutions, lecithin technology, and specialty packaging plus many more.

 EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and r & d buildings, shopping centers, hotels, condominiums and mixed-use properties as well as special purpose buildings.

 EagleBridge Capital is a member of Commercial Real Estate Capital Advisors (CRECA),  a national association of independent commercial mortgage banking firms.

Contact:

 Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place,  Suite 2600

Boston, MA 02108

Tel: 617-292-7177  Ext.12

Fax: 617-292-7575

ssidel@eaglebridgecapital.com

www.eaglebridgecapital.com

JLL's Q3 Report: Small to mid-size industrial real estate dominating the leasing market

Craig Meyer

 CHICAGO, IL, Nov. 30, 2021 – The industrial real estate sector continues to break records going into the tail end of 2021. 

The increase in online shopping has become a primary driver of demand for smaller logistics facilities, making the most popular size segment for leasing 10,000 to 49,000 square feet in the third quarter, according to JLL’s Q3 Industrial Report.

Nationally, more than 137.9 million square feet of total industrial product was leased in Q3, a new high for 2021.

“With demand for industrial space showing no signs of slowing down, new inventory will be needed to bring supply and demand closer to equilibrium and negate a future shortage of industrial space,” said Craig Meyer, President, Industrial, JLL.

“As ecommerce grows, now more than ever Logistics and Distribution and 3PL will be at the forefront, especially with the upcoming holiday season and impending impacts from the cargo ships backup logs observed at the close of the quarter.”

More than half of leasing in the U.S this quarter came from users looking for space below the 100,000 square foot threshold.

The surge in ecommerce, labor shortages, and consumer expectations, in terms of speed and delivery of product, have added more pressure than ever to the supply chain and its operations. As a result, industries servicing the supply chain and e-commerce, continue to experience an increase in demand.

In Q3 the Logistics and Distribution and third-party logistics (3PL) industries accounted for 28.3 percent of total leasing volume.

As more and more companies continue to outsource their operations to meet consumer online demand JLL expects these industries to flourish, especially within the 3PL sector.

Leslie Lanne

“In a world of two-hour shipping, consumers have come to expect a specific window for their goods to arrive. said Leslie Lanne, Executive Managing Director, Urban Logistics, JLL.

"The growth in online shopping and the need for fast delivery times is driving demand for urban industrial space unlike ever before.

“Ecommerce will keep driving the need for vertical space, and as a result we’re going to see this new urban logistics asset class spark progressively more developer and investor interest.”

Investors searching for yield identify this space as a growing opportunity segment and are deploying capital toward acquiring scale.

For example, a joint venture formed between Arden Group and Arcapita Group recently announced plans to invest up to $2 billion in acquiring small- and medium-bay multi-tenant warehousing space across major U.S. markets.   

“With the tremendous leasing velocity that we are seeing in every market around the country, buy-side underwriting and investor demand for this segment of the market is stronger than what we currently see within the big-box segment,” added Trent Agnew, Capital Markets Platform Co-Leader for JLL.

Trent Agnew

“The primary driver for this product type is rent growth, as we are seeing renewal rents on smaller spaces routinely push up 30 to 50 percent at expiration, driving significant NOI growth.” 

With construction costs continuing to increase, investor demand for small bay warehouses is expected to continue increasing, which is anticipated to drive further cap rate compression in 2022. Select core markets are seeing class B product trade at a sub-4 cap. 

 Contact:

 

Kimberly Steele

JLL Manager

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Javier Seda-Romero joins JLL’s growing Valuation Advisory practice and will be based in Orlando, FL

Javier Seda-Romero

 

 ORLANDO, FL, Nov. 30, 2021 – JLL’s Valuation Advisory group announced today that Javier Seda-Romero has joined its growing Environmental and Property Condition (EPC) team as a Project Management Director specializing in property condition assessments.

 In his new role, Seda-Romero will expand the capabilities of the EPC team.

He comes to JLL with more than 20 years of experience in architectural and real estate due diligence fields.

 "I am very excited to join JLL’s Valuation Advisory team at this early stage of the EPC team’s growth,” said Seda-Romero. 

Seda-Romero holds certifications from LEED AP in Building Design + Construction and is a HUD Architectural Application Reviewer for the Multifamily Accelerated Process, along with having certification as an Asbestos Inspector and Project Handler.

Jeff Manas

Led by Managing Director Jeff Manas, the EPC service team offers Phase I ESA and Phase II Oversight Management, along with PCAs, zoning reports, seismic studies, ALTA surveys and green evaluations.

 “Consistent with JLL’s strategy of building a veteran team of members who share the same high-quality values and desire for world-class client care, Javier brings a sterling reputation in this industry with over 20 years of subject matter expertise in architectural, engineering and construction services,” Manas said.

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

 U.S. property valuation and tax consulting services are performed by JLL Valuation & Advisory Services, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

 

 

Contact:

 

Kimberly Steele

JLL Manager

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Enchanting Oasis of TV’s ‘Black-ish’ Star Nicole Sullivan on Market at $1.45 Million

Nicole Sullivan

LOS ANGELES, LAUREL CANYON, CA -- Nicole Sullivan is best known for her acting roles in the TV series Black-ish and The King of Queens, but her charming cottage-style home in L.A.'s Laurel Canyon is a colorful example of her keen eye and romantic take on the type of environment that shows her true personality, according to TopTenRealEstateDeals.com.

 She has recently put it on the market priced at $1.45 million.

 Built in 1912 and sympathetically updated for the current century, it’s the perfect escape for total decompression after a long day’s work in the studios. 

 

Bill Maher

Hidden away up a long 100-yard drive, the cottage is nestled on almost an acre of thickly landscaped land surrounded by trees.  

 

The 1,678-square-foot home has two bedrooms and two baths surrounded by windows that bring in lots of light and beautiful outdoor views and an outdoor entertainment space. 

Loaded with character, the approach up the driveway opens slowly to a cheerful coral-colored house and picket fence lined with trees, bamboo and succulent garden above the stone retaining wall. 

Former California Gov. Jerry Brown

 

The living-dining area is in pale neutrals accented with white-beamed ceiling and a white-brick fireplace with large windows that can be shuttered from the inside, making dust-collecting drapes unnecessary. 

 

The master suite opens to a large deck while kitchen French doors and a large sunroom both open to the party-perfect patio below. 

The 1,678-square-foot home
has two bedrooms and two baths 

 

For entertaining or family get-togethers the outdoor patios are set up as a dining area closer to the kitchen French doors and a few steps away, an adjoining outdoor living room with another large-brick fireplace. 

 

All is surrounded by stone walls with foliage draping over the top and mature trees casting shadows, looking quite magical under nighttime lighting.  Nicole’s hot tub is also a welcome retreat at the end of the day.

Laurel Canyon has been drawing celebrity residents since the early days of filmdom. 

Lorena Costino

From silent film stars to talk show hosts such as Bill Maher, to rock-star musicians, former California Governor Jerry Brown, and now to a flood of up-and-coming stars, the higher up the canyon, the more spectacular the views.

 The property is listed with Lorena Costino, Compass, Los Angeles.

 

Photo credit:  Nate Williams

Source: www.compass.com

 

 

Contact:

 

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3725
Twitter:  @toptenrealestat
Facebook.com/toptenrealestat

Lynd Living Sells Margate, FL Apartment Community for $66.50 Million Just Eight Months After Purchase

David Lynd

 FORT LAUDERDALE, FL and SAN ANTONIO, TX-- Just eight months after acquiring a 280-unit garden-style apartment complex northwest of Fort Lauderdale, Lynd Living has sold the asset for $66.50 million.

That amounts to $15.50 million more than the $51.00 million price paid on March 17, 2021. 

Aqua Villa, 5750 Lakeside Drive, Margate, FL

 Lynd Living CEO David Lynd said the decision to sell now was not easy, but feels the time was right to maximize value due to the hot real estate market.  

“Values in South Florida have really skyrocketed since the pandemic due to intense in-migration from other states,” Lynd said.

“Rents have jumped by over 20% since our acquisition and we achieved our projected five-year net proceeds for investors and partners after just eight months. We always keep our investors’ goals in mind for every deal.”  

“Our signature chef’s kitchens
have become a major draw" 

The Lakes at Margate (renamed Aqua Villa) is a deal that almost didn’t happen to start with thanks to the pandemic.

 Lynd Living was originally supposed to buy the property on March 11, 2020, but its equity partner backed out and the deal became less certain.

 But Lynd persevered with the seller and was able to close nearly a year later.  This marked the first time the company used crowd-sourced equity to help fund an acquisition. 

Constantine Scurtis

“Had we given up when we lost our original partner in 2020, we would have never gotten the property and wouldn’t be where we are today,” said Constantine Scurtis, president of Lynd Acquisitions Group. 

 “As it stands, our investors are getting an incredible rate of return on their money over a much shorter time period than anyone anticipated.”

Built in 1987, Aqua Villa features one, two and three-bedroom units with wood-plank floors, custom white cabinetry and energy-efficient appliances. 

 The community has two pools, a clubhouse, a modern fitness studio and cyber-café.  Lynd spent $4 million in renovations and upgrades including the addition of chef’s kitchens to 3-bedroom units.

“Our signature chef’s kitchens have become a major draw everywhere we have put them in, Lynd said. “In Margate, we were able to increase rents by as much as $800 for these special units, thus generating a lot of additional value for the asset.”  

Hampton Beebe of Newmark was the listing agent.

Hampton Beebe 

Aqua Villa is located at 5750 Lakeside Drive, Margate, Florida, near the intersection of W. Atlantic Boulevard and N. State Road 7, just a couple of miles from Florida’s Turnpike.

In Florida, LYND has owned 6,300 units over its history and managed nearly 12,000 units. 

 It also co-developed the 390-unit luxury condominium building Nine at Mary Brickell in the mid-2000s. The company has plans to a lot more business in the region over the coming years.

 

ABOUT LYND:  

 

LYND is a privately held, national real estate firm that develops, acquires and manages multifamily real estate assets.  

Operating approximately 20,000 apartment units in 13 states, Lynd ranks as one of the premiere multifamily management companies in the country. 

 For more information, please visit www.lynd.com.

 

Contacts:

 

Todd Templin, Boardroom PR

ttemplin@boardroompr.com

954-370-8999 or 954-290-0810

 

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

 

Kleiner Law Group Represents Buyer in Purchase of Two Miami Gardens Shopping Centers for $47 Million

Marc D. Kleiner

 

  MIAMI, FL, Nov. 24, 2021 — Marc D. Kleiner of Kleiner Law Group in Miami represented One Stop Management LLC, a Brooklyn-based investment group, in the purchase of two Miami Gardens shopping centers for $47 million.

 Kleiner closed on the refinance of the shopping centers yesterday, the deal had originally closed earlier in the month.

Miami Gardens Shopping Plaza
4500-4698 Northwest 183rd Street,
Miami Gardens, FL

“We’re pleased to have closed on the purchase as well as finalized the refinance of $35 million with Bank of America,” Kleiner stated.

“These two shopping centers are well-placed for residents and demonstrate the continued interest in Miami Gardens’ commercial sector.”

 The shopping centers are Miami Gardens Shopping Plaza, located at 4500-4698 Northwest 183rd Street, and Las Villas Market Square, located at 4705-4895 Northwest 183rd Street.

 

Las Villas Market Square
4705-4895 Northwest 183rd Street
Miami Gardens, FL.

The two properties combined total 198,885 square feet. 

 Kleiner has more than 20 years of legal experience in the industrial, commercial lending and multifamily residential sectors.

In addition, he handles a variety of real estate needs for clients, including property tax valuation appeals.

Contact:

 

Yeleny Suarez Brody

EvClay Public Relations for

Kleiner Law Group

+1 (305) 261-6222

 

6161 Blue Lagoon Drive, Suite 270

Miami, FL 33126

 office  305.261.6222  

 mobile  305.200.9346

https://kleinerlawgroup.com/.