JLL Capital Markets lands key hire in Nashville; Bradley Worthington will be Director focused on investment sales advisory transactions

Bradley Worthington

 

NASHVILLE, TN, July 8, 2021– JLL Capital Markets announced today that it has added Bradley Worthington as a Director in its Nashville office.

 In this role, Worthington will focus on investment sales advisory transactions across asset classes in the greater Nashville area and surrounding Tennessee markets.

 Worthington joins JLL with more than five years of experience in the commercial real estate industry.

He has held positions as an analyst/associate and affiliate broker at local and national commercial real estate firms, and most recently as a Vice President with The Charles Hawkins Co., an independent real estate firm in Nashville.

Richard Reid

He is a board member for NAIOP’s Nashville chapter and committee member for the Iris Ball. Worthington earned a Bachelor of Business Administration degree from the University of Mississippi.

 “As the markets continue to gain momentum, we felt it was important to have a dedicated commercial investment sales advisory executive in our Nashville office,” said Richard Reid, JLL Senior Managing Director who oversees the Atlanta and Nashville markets.

“We’re seeing more and more investors look at Nashville to invest in and we’re excited to have Bradley on board to complement our existing Southeast experts and advise these clients going forward.”

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

  

 CONTACTS:

 Murphy, Kristen

 Kristen.Murphy@am.jll.com

 

Seyfarth’s Growing Team in Seattle Adds Ian S. Taylor, Lauren Parris Watts and Andrew Escobar

 

 Ian S. Taylor

SEATTLE, WA -- (July 8, 2021) -- Seyfarth announced today the arrival of partner Ian S. Taylor to its Real Estate department and Leasing practice group in Seattle.

Taylor was most recently a partner in the Real Estate and Municipal Law practice groups at Seattle-based Pacifica Law Group.

Lauren Parris Watts

Taylor represents both private and public landlords and tenants in all components of real estate leasing, including drafting and negotiating agreements for office, retail, and other commercial spaces.

In addition, he regularly counsels clients on land development issues, complex purchase and sale agreements, environmental contamination cleanup and remediation projects, condominium conversions, eminent domain cases, and legislative and regulatory matters. 

 Andrew Escobar

“Ian is a skilled real estate lawyer with incredible transactional experience,” said Paul Mattingly, chair of Seyfarth’s Real Estate department.

“With the extraordinary growth of our national portfolio leasing practice and other leasing demands, Ian is an important addition to our team.”

Denice Tokunaga

Prior to joining private practice, Taylor was a senior deputy prosecuting attorney in the Civil Division of the King County Prosecutor’s Office where he represented the office of the King County Executive, Department of Transportation, Facilities Management, Metro Transit, and the King County International Airport.

 Earlier in his career, Taylor was a King County criminal prosecutor where he tried nearly 40 jury trials.

“We are strategically growing our Seattle roster with talented attorneys in impactful practice areas," said Denice Tokunaga, co-managing partner of Seyfarth’s Seattle office.

Paul Mattingly

 "Our team serves many clients from the retail and industrial sectors and Ian’s leasing practice expands our capabilities and bandwidth in this space.”

Taylor is the latest partner to join Seyfarth’s new Seattle office following the recent additions of Labor & Employment partner Lauren Parris Watts and Litigation partner Andrew Escobar.

In July 2020, Seyfarth announced the formal launch of the office, the firm’s first in the Pacific Northwest and fifth on the West Coast.

Seyfarth’s Seattle office is currently comprised of 17 lawyers, including 11 partners, from a cross-section of the firm’s nationally ranked departments.

Thomas Wybenga

The office’s other co-managing partner, Thomas Wybenga, added that, “Ian is an entrepreneurial lawyer with an excellent network and deep connections in the Puget Sound business community. We’re excited to have him aboard as we continue to build Seyfarth in Seattle.”

Notably, Taylor served in the United States Marine Corps where he earned many awards and commendations. He received a J.D. and B.A. from the University of North Carolina at Chapel Hill.

About Seyfarth

With more than 900 lawyers across 17 offices, Seyfarth Shaw LLP provides advisory, litigation, and transactional legal services to clients worldwide.

 

 CONTACTS:

John Garger jgarger@rippmedia.com 212-262-7484
Ivan Alexander ivan.k.alexander@gmail.com

 

Stos Partners Acquires 125,000-SF Multi-Tenant Industrial Property in Ventura County, CA for $20 Million

 

CJ Stos

VENTURA COUNTY, CA, July 8, 2021 – Stos Partners, a privately held commercial real estate investment firm, has acquired an approximately 125,000 square-foot multi-tenant industrial property in the Ventura County submarket of Simi Valley, California, from a private seller for $20 million.

According to Jason Richards, Partner at Stos Partners, the San Diego-based firm was able to draw on close relationships to secure the asset through an off-market transaction.

 Jason Richards

“We were drawn to this property based on strong and secure in-place cashflow and potential for tremendous upside,” says Richards.

“The asset is in an exceptional Ventura County location that offers close proximity to the San Fernando Valley and Downtown Los Angeles, further driving its appeal to quality tenants.”

The property is 94% leased to a diverse base of several long-term tenants, notes Richards.

Dan Cherrie 

The property is located at 2320-2380 Shasta Way in Simi Valley, California. Dan Cherrie with CBRE represented Stos Partners as the buyer.

CJ Stos, Principal at Stos Partners, adds: “Drawing upon deep experience in industrial markets throughout Southern California, we are continuously monitoring for opportunities to acquire properties best situated for growth.

"Our firm’s ability to quickly identify and source deals speaks to the strength of our relationships, as well as our strong track record and reputation in the industry.”

Tanner Jansen

­According to Tanner Jansen, Vice President of Acquisitions at Stos Partners, the asset presents the opportunity to bring rents up to market through Stos Partners’ proven value-add business plan.

“We will immediately implement capital improvements including mechanical system upgrades, parking lot repaving, and fresh paint on both the exteriors and interiors, in order to better accommodate its current uses as well as attract new tenants and unlock new value potential,” Jansen explains.

 CONTACTS:

Katie Haga / Elisabeth Manville

Brower Group

(949) 438-6262

khaga@brower-group.com

www.stospartners.com.

 

MCA Realty Raises First Fund with $50 Million in Equity Commitments; More than $130 Million in Buying Power

Tyler Mattox

 

ORANGE COUNTY, CA – MCA Realty, a full-service real estate investment and management company based in Orange County, California, announced the successful raise of its first fund with $50 million in equity commitments, resulting in approximately $130 million in buying power.

MCA Realty's principals, Tyler Mattox, Jared Gordon, and Peter Cheng have successfully navigated a full spectrum of market conditions, and pride themselves on building and maintaining strong relationships with industry partners.

The MCA Realty Industrial Growth Fund, LP received broad support from both existing and new limited partners, achieving its initial fundraise target of $50 million.

 The strategy will leverage MCA Realty’s investment platform and expertise in acquiring value-add industrial properties across the Western U.S. - specifically targeting small and mid-bay multi-tenant industrial assets.

Jared Gordon

MCA Realty typically invests in single assets on behalf of its limited partners, but due to high demand in the industrial sector was able to raise their debut fund in just three months during the global pandemic.

“We have a long-established track record within the multi-tenant industrial space across the western states, which is one of the reasons we were able to raise capital for the fund so quickly,” explains Tyler Mattox, Principal at MCA Realty.

“Our proven approach, the stability of tenants in this asset class through the COVID-19 pandemic, combined with the increasing tenant demand of well-located industrial assets was attractive to investors.”

Peter Cheng

The fund will target small and mid-bay industrial properties in markets poised for economic growth where there is opportunity for value creation.

“The industrial sector has undergone tremendous growth over the last several years as the rise in e-commerce has continued to grow,” says Mattox.

 “In fact, this trend has been accelerated by the pandemic and demand for industrial properties has continued to rapidly increase.

 "Because of our niche focus, we understand how to identify, source and acquire these assets below replacement cost where we can then implement upgrades and address operational inefficiencies to enhance long-term value.”

Lakewood Business Park, Lakewood, WA

According to Mattox, the firm has already begun to deploy capital within the fund, acquiring its first property, Lakewood Business Park, a 136,350 square-foot industrial property in Lakewood, Washington in late 2020 for $18.2 million.

“The launch of this fund will allow MCA to act quickly on acquisitions that make sense for our investors in terms of asset class, geography and target return profile,” says Mattox. 

“We will continue to deploy capital over the next 24 months in key markets across the Western U.S.”

 CONTACT:

khaga@brower-group.com

www.mca-realty.com.

JLL Capital Markets placed the loan for 114 Pacific Court in the high-barrier-to-entry Irvine Spectrum submarket in Irvine, CA

 

114 Pacific Court, a 110,392-SF, Class A office building in  Irvine, CA

 NEWPORT BEACH, CA – JLL Capital Markets announced it has arranged financing for 114 Pacifica Court, a 110,392-square-foot, Class A office building in Irvine, California.

 JLL worked on behalf of the borrower, Meridian and Harrison Street to secure the floating-rate loan through H.I.G. Realty Partners. The three-year loan has two, one-year extension options.

The JLL Capital Markets team representing the borrower was led by Managing Director John Chun.

John Chun.

“The Irvine Spectrum submarket has a limited number of available medical office space, and Meridian and Harrison Street have a well laid-out business plan to attract a wide variety of medical office tenants,” Chun noted.

 Loan proceeds will be used to convert 114 Pacifica into a Class A medical office building, which will include adding a three-level parking structure in the north end of the property.

In addition, the property is currently 49% occupied and as leases roll over the next two years, ownership will convert the general office tenants to medical office tenants.

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

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

 

 CONTACT:

Kristen Murphy

 JLL Senior Manager, Public Relations

Phone: +1 617-848-1572

Email:  Kristen.Murphy@am.jll.com  

http://www.harrisonst.com/

jll.com.