Two-building New Jersey office complex trades

Kevin O’Hearn

 MORRISTOWN, NJ– JLL announced it has closed the sale of 742 and 746 Alexander Rd, a two-building office complex totaling nearly 110,000 square feet in West Windsor, New Jersey.

 JLL represented the seller, Princeton Insurance Company, and procured the buyer, Strategic Funding Alternatives, LLC (SFA).

 

742 and 746 Alexander Rd. is located within the prestigious Princeton office market, which is home to numerous major corporations and pharmaceutical companies.

 

The properties served as the corporate headquarters of Princeton Insurance Companies from the 1980’s until just recently, when Princeton decided to relocate to a nearby property.

Jose Cruz

The three-story 742 Alexander Rd. property consists of approximately 50,000 square feet.  746 Alexander Rd. is a two-story, approximately 60,000 square-foot building. 

On-site tenant amenities and features currently include a cafeteria, fitness center and atrium lobby.

JLL’s team representing the seller was led by Senior Managing Directors Kevin O’Hearn and Jose Cruz, Managing Director Thomas Romano and Managing Directors Michael Oliver and Steve Simonelli.

“Princeton Insurance is a long-time client, and we’re thrilled to not only handle the disposition of their property, but also the relocation of their Princeton office,” Romano said.

Thomas Romano 

“The Alexander Rd. properties presented a tremendous value add and renovation opportunity for an investor,” O’Hearn added.

“SFA owns similar properties in the region and was attracted to the prime location and flexible floor plates that can accommodate a wide variety of renovation strategies.”

 

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About Princeton Insurance Co.

 

Princeton Insurance Company is New Jersey’s leading healthcare liability insurer, continually protecting the assets and reputations of the New Jersey healthcare community since 1976. For more information, please visit: princetoninsurance.com.

Michael Oliver

About Strategic Funding Alternatives, LLC

 

Strategic Funding Alternatives, LLC (SFA) is a privately held commercial real estate investment firm located in Moorestown, NJ.

 

Founded in 2016, SFA has become one of the fastest growing firms in the South Jersey market with 20 properties and 1,400,000+- square feet. 

 

The company’s investment division raises and places equity in undervalued commercial office complexes, optimizing performance through acquisitions and value-add capital improvement opportunities and providing investors with discretion over individual assets, regular quarterly income and long-term capital appreciation. 

Steve Simonelli

For its commercial portfolio, SFA offers full-service property management, including leasing, construction, and comprehensive tenant-related services.

 

SFA embraces its corporate social responsibility and the firm actively supports many local, regional, and national organizations.  For more information, visit sfarealestate.com or call (856) 437-6196.

 

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.

  

 CONTACT: 

Kristen Murphy

Senior Manager

Public Relations

Investor Services

JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 jll.com

Daum Helps Arizona-based company expand with new headquarters in Glendale

Carter Wilson

 PHOENIX, AZ – DAUM Commercial Real Estate Services has recently directed the acquisition of a 9,500 square-foot industrial property in the Phoenix submarket of Glendale, Arizona on behalf of the buyer, American Roofing & Waterproofing.

          The asset will serve as the company’s new headquarters location, according to Carter Wilson, CCIM, Associate at DAUM Commercial, who completed the transaction alongside David Wilson, CCIM, DAUM Executive Vice President.

“As a leading commercial and residential roofing company in Arizona that also works throughout Texas and California, American Roofing & Waterproofing has experienced consistent growth,” says Carter.

         David Wilson

“Based on the firm’s success, business plan, and the strength of the greater Phoenix industrial market, we advised the team to strategically purchase their own location in Glendale, which will position them well for continued success and expansion.”

Carter notes that the property is situated in an ideal location for the buyer, with all of its vendors located within a mile of the asset, as well as a strong client base.

Wilson adds that the Phoenix area saw the best quarter on record for industrial net absorption in Q4 2020, demonstrating the continuing demand from local businesses to remain in and expand within the market.

Doug Haman

“Through close relationships with lenders, we were further able to help move this transaction forward seamlessly by connecting the buyer with Enterprise Bank, where Senior Vice President Doug Haman facilitated the SBA loan process with the buyer and all other parties involved,” Wilson continues.

The property is located at 5210 W. Missouri Avenue in Glendale, Arizona and was purchased for $850,000.

 

 CONTACTS: 

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

Arleeny Escarcega · Account Coordinator 
O 949 438 6262

Brower Group, Inc. 
The Smart Agency™ for Smart Clients who want Smart Work 
220 Newport Center Drive, Suite 22 · Newport Beach, CA 92660

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www.daumcommercial.com.

Stonehill Strengthens PACE Platform with Key Appointments to Meet Growing Demand for Energy-Efficient Buildings

 

Allison Neary

ATLANTA, GA, April 21, 2021 – Stonehill, a leading direct hospitality lender, announced new leadership appointments supporting its growing Stonehill PACE lending platform.

The commercial property assessed clean energy ("PACE") focused unit has extended its leadership role by financing commercial loans to companies involved in renewable energy, energy-efficient components and seismic retrofitting. 

 Lisa Nordel 

Over the past year, Stonehill PACE has completed more than $171 million in commercial PACE loans for clean energy measures and seismic retrofitting, primarily in California, Colorado, Florida, Kentucky, Missouri, Nevada and Texas.

Jared Schlosser

With approximately $75 million of the $171 million funding seismic improvements, Stonehill PACE has become the largest seismic-improvement lender in the country, helping owners protect their buildings and occupants against natural disasters.

Gabrielle Arieno 

To support this growing industry and Stonehill PACE’s leadership position, Stonehill promoted Jared Schlosser to senior vice president and head of Stonehill PACE, Lisa Nordel to vice president of operations and Allison Neary to senior analyst.

Also, Stonehill PACE recently hired Gabrielle Arieno and Robert Loeb as business development associates and Jadah Quick as a senior asset management analyst.

 Jadah Quick 

"These associates are an integral part of the company's overall success; their appointments reflect our acknowledgment of their ability and contributions to Stonehill PACE," said Mat Crosswy, president and principal of Stonehill.

"Jared has exceeded our every expectation, and we are extremely confident he'll continue to excel and lead his high-performing team."

 The U.S. PACE Program, launched in 2010, which the U.S. Department of Energy oversees, completed approximately $530 million of commercial PACE financing in 2020.  

Mat Crosswy

 "Given the trend toward broader environmental, social and corporate governance concerns, more building owners and senior lenders are taking advantage of PACE financing and overcoming the challenges that have hindered the adoption of energy efficiency and related projects in their buildings," Schlosser said.

 CONTACTS: 

Corporate

CharlesTalbert                                                              

Corporate Communications Director      

713-666-2544

ctalbert@peachtreehotelgroup.com                                                                                                        

 Brent LeBlanc

 Executive Vice President,

678-823-7683

                                                                                       

bleblanc@stonehillsc.com

 

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PRESIDENT

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www.stonehillsc.com.

Orthopedic-anchored MOB trades in northwest Atlanta

Mindy Berman

 

CHARLOTTE, NC, April 21, 2021 – JLL Capital Markets announced today that it has closed the sale of Georgia Bone & Joint MOB, a 55,355-square-foot medical office building in the northwest Atlanta metro community of Cartersville, Georgia.

Ryan Clutter 

JLL represented the seller, JEI Investments, and procured the buyer, SG Property Services.

 Georgia Bone & Joint MOB is a two-building, orthopedics-focused medical office property anchored by Georgia Bone & Joint Surgeons.

 The three-story facility serves as a multi-discipline, orthopedic destination that includes an ambulatory surgery center with two operating rooms, MRI and advanced imaging, interventional pain treatment and physical therapy.

The surgery center is supported by a Georgia Certificate of Need. The high value tenancy is reflected in an average remaining lease term of nearly 13 years.

 The property is located at 15 Medical Dr., adjacent to the 119-bed Cartersville Medical Center, which is the only hospital within a 26-mile radius.

Richard Reid

The property is located just off Interstate 75 approximately 40 minutes northwest of Atlanta, which has become a hub for technology and healthcare with more than 14,000 tech businesses and 189,000 innovation sector jobs.

JLL’s Capital Markets team representing the seller was led by Senior Managing Directors Mindy Berman, Ryan Clutter and Richard Reid.

“Medical office buildings continue to be a sought-after property type by both investors, and debt and equity sources,” said Berman.

 “The Georgia Bone & Joint property features critical high value features such as the surgery center and MRI and is in a fantastic location in a busy medical area with a committed long-term tenancy, and as such, it attracted a generous amount of interest within the investment community.”

Paul Shailendra

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

 About SG Property Services

SG Property Services is a vertically integrated real estate firm based in Atlanta, GA. Paul Shailendra (President) founded SGPS a decade ago to focus on medical office investments in Metro Atlanta and North Georgia.

 The company’s portfolio has since grown to over 20 assets in Georgia, North Carolina, and Texas. SGPS invests with both institutional private equity as well as foreign capital on its medical office investments. 

The Cartersville acquisition was run by John Fredericks (Director of Acquisitions).

 About JLL

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

 John Fredericks

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.  

  

CONTACT: 

Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

 jll.com.