Miami headquarters building acquisition financed for $17.3 million

Melissa Rose

 

MIAMI, FL– JLL Capital Markets announced it has arranged $17.3 million in acquisition financing for a fully leased, 213,131-square-foot industrial distribution facility with cold storage and office space that serves as the corporate headquarters of The Apollo Group in Miami, Florida.

 JLL worked on behalf of the borrower, Ivy Realty, to place the seven-year, fixed-rate, non-recourse loan with a life insurance company for this sale-leaseback transaction.

 

The building is fully leased to Miami-based The Apollo Group, an award-winning, full-service hospitality management company that provides reimagined logistics to the biggest brands in the cruise ship industry.

 

Drew DeWitt,

 

“Ivy Realty is excited to continue its strategy of acquiring premier industrial assets, especially those with a cold storage component, for its Florida portfolio,” said Drew DeWitt, Ivy Realty’s executive vice president of Investments.

 

The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Director Melissa Rose.

 

“Due to the sound fundamentals of the Miami Industrial market and best-in-class borrower with Ivy Realty, we were able to build a strong market of lenders for The Apollo Group, and the lender provided a seamless execution,” Rose added.

 Fully leased, 213,131-SF industrial distribution facility
with cold storage and office space that serves as 
corporate headquarters of The Apollo Group in Miami, FL

 

Built between 1961 and 2000, the building features a 24-foot clear height and houses 27,000 square feet of office space, a 10,000 square-foot showroom, 136,131 square feet of dry storage space and 40,000 square feet of cold storage space.

 

In 2019, the seller renovated the office space and updated the freezer systems. JLL has nationally tracked how cold storage assets continue to be in high demand, with historical vacancies remaining below 10 percent.

 

Situated on 8.86 acres at 6950 NW 77 Ct., the building is within the Miami Airport North Industrial submarket, which, according to JLL Research’s Miami Industrial Insight - Q1 2021 report, has only 4.7% vacancy, which is significantly lower than the Miami-Dade Industrial market’s average of 6%.

 

Additionally, this location provides easy access to critical demand drivers, population centers and employers. It is strategically located between the Ports of Miami and Fort Lauderdale and proximate to both Miami and Fort Lauderdale downtowns and international airports.

 

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

 

 CONTACTS: 

Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

 

Capitalization closed for Class A multi-housing development in Bethesda, MD

Sue Carras

 WASHINGTON DC– JLL Capital Markets announced it closed the capitalization for a Class A multi-housing development located at 7000 Wisconsin Ave. in Bethesda, Maryland, less than 10 miles from Washington D.C.

Travis Anderson

The high-rise development will stand 12 stories tall, consist of 181 one- and two-bedroom luxury units and include 6,090 square feet of ground-floor retail.

 The best-in-class designed property has thoughtful and modern unit finishes, including two-toned shaker cabinetry, quartz countertops, stainless steel appliances and sleek hardware.

Community amenities include a co-working lounge, state-of-the-art fitness center, game room, courtyard and rooftop lounge.

 The transit-orientated property boasts a Walk Score© of 97 and is positioned near the Bethesda Metro Station and is walking distance from over 11 million square feet of office space, 250,000+ private sector employees and 530,000 square feet of high-end retail.

Cory Fowler

The property also benefits from Downtown Bethesda, a thriving urban center with various restaurants and shopping options, and nearby amenity hubs including Bethesda Row, which contains over 60 stores and 533,000 square feet of high-end retail and restaurants; and Woodmont Triangle, consisting of more than 160 shops and restaurants. 

 Additionally, Bethesda is expected to experience continuous growth, with Marriott International set to move its global headquarters just a mile from the property, providing economic and employment opportunities for the surrounding area.

 The JLL Capital Markets team was led by Travis Anderson, Cory Fowler, Susan Carras, Brian Crivella, Walter Coker and Robert Jenkins.

Brian Crivella

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 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 our newsroom.

 About JLL

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

Walter Coker 

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 $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020.

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

 

Robert Jenkins

 CONTACTS:

Natalie Passarelli

JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

 

Josh Huckleberry Promoted to Studio Manager, Branding in Ware Malcomb's Irvine, CA office

Josh Huckleberry

 

IRVINE, CA, April 20, 2021 – Ware Malcomb, an award-winning international design firm, today announced Josh Huckleberry has been promoted to Studio Manager, Branding in the Irvine office.

 In this role, Huckleberry will focus on operations, staff management, business development and project leadership for the Branding Studio.

 He brings over 15 years of environmental graphic design experience along with eight years of design-build signage fabrication experience.

  Huckleberry joined Ware Malcomb in 2017 as a Senior Project Designer. In 2018, he was promoted to Operations Manager playing a crucial role in management, processes and team training.

Debra Bryant

 Along with the new role of Studio Manager, he will continue to provide his leadership in planning, designing and managing brand identity, signage and branded graphic projects across all Ware Malcomb markets.

 “Josh’s unique design skills and technical knowledge of the industry makes him a valuable member of our team,” said Debra Bryant, Director, Branding. 

“As our Branding Studio continues to expand across North America, we look forward to Josh’s continued growth and success at Ware Malcomb.” 

Huckleberry is active in various industry organizations and is the Co-Founder and Co-Chair of the Orange County, Calif. Society for Experiential Design (SEGD) Chapter.

 CONTACTS:  

Rachel Devany

VP Public Relations

KCOMM for Ware Malcomb

Rachel@kcomm.com 

 

Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com 

 http://www.waremalcomb.com/news 

 Brand Video at youtube.com/waremalcomb.

waremalcomb.com