JLL Capital Markets completes $168 million sale of eight neighborhood retail assets in DC, Virginia and Maryland

 

Kimberly (Kim) Flores

 

WASHINGTON, D.C., Sept. 23, 2021 – JLL Capital Markets announced today that it has closed the $168.3 million sale of a portfolio of eight infill neighborhood retail assets totaling 695,991 square feet in Washington, D.C., northern Virginia and southern and northern Maryland.

 JLL marketed the portfolio on behalf of the seller, WashREIT.

SOLD: a portfolio of eight infill neighborhood
retail assets totaling 695,991 square feet
in Washington, D.C., northern Virginia
 and southern and northern Maryland.

The portfolio, which is 82 percent leased, consists of two assets in Washington, D.C., two in Northern Virginia and four retail properties in Maryland.

The properties in Washington D.C. include Chevy Chase Metro Center and Spring Valley Village, with 800 S. Washington St. in Alexandria and Concord Centre in Springfield comprising the Virginia assets.

Montrose Shopping Center and Randolph Shopping Center in Rockville; Takoma Park Shopping Center in Takoma; and Westminster Shopping Center in Westminster are all in Maryland.

Stephen Conley

 The properties house a variety of grocery anchors, including Food Lion, ALDI, Giant and Mom’s Organic Market, in addition to national retailers such as Michaels, Mattress Firm, Planet Fitness, Crate & Barrel, Dollar Tree, Rite Aid Liquors and Chick-fil-A.

The properties are in dense, affluent suburbs within the metro Washington, D.C. region where annual household incomes within a three-mile radius average $152,705, and the population within the same range is more than 148,700 residents.

 The JLL Capital Markets team that represented the seller was led by Executive Managing Director Stephen Conley, Senior Managing Director Danny Finkle, Senior Director Jordan Lex and Vice President Kim Flores. 

 “JLL continues to see strong investor demand for opportunities to acquire retail, especially at-scale,” Finkle said.

Danny Finkle

“The asset class has proven resilient and offers investors appealing risk-adjusted returns in today’s low-yield environment.” 

 “The D.C. Metro area has long been a recession-resistant gateway market,” Lex added. 

“However, booming tech and life science sectors in Northern Virginia and suburban Maryland, respectively, have made well-positioned suburban retail in more demand than ever.”

 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 and advisory, debt advisory, equity advisory or a recapitalization.

Jordan Lex

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

  

About WashREIT

 

WashREIT (NYSE: WRE) WashREIT is a multifamily real estate investment trust that is focused on providing quality housing to under-served, middle-income renters in submarkets poised for strong, sustained demand.

 

With a proven track record in multifamily repositioning, WashREIT is utilizing the experience and research from the Washington Metro market to continue its growth as WashREIT geographically diversifies into Southeastern markets.

 

CONTACTS:

Kimberly Steele

JLL Manager

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.

Balderas, McLean, Smith join SPJ Board of Directors

 

Cheryl Smith

INDIANAPOLIS, IN — The Society of Professional Journalists Board of Directors has selected its two appointed members for 2021-22 and approved a third member to fill a vacancy on the board.

Israel Balderas and Cheryl Smith were appointed during Saturday’s virtual board meeting and Danielle McLean was approved to fill the vacancy left by Claire Regan who was voted president-elect earlier this month.

Claire Regan

Smith has been an award-winning multimedia journalist for more than 40 years. A graduate of Florida A&M University, she began working at the Capitol Outlook in Tallahassee and has moved on to several positions with her works appearing in Florida Flambeau, Dallas Weekly, Dallas Examiner, Dallas Times Herald, Westside Gazette, Dallas Morning News and the NNPA Newswire.

The publisher/editor at I Messenger Media LLC, Smith has served as regional director and secretary for the National Association of Black Journalists and president of the Dallas/Fort Worth Association of Black Journalists. 

She sits on Boards of the National Newspaper Publishers Association and SPJ Fort Worth. In addition to chairing the communications department at Paul Quinn College, she has taught at the University of North Texas, Texas Woman's University and Dallas College.

Israel Balderas

Balderas is an Emmy award-winning journalist, attorney and assistant professor of journalism at Elon University. His teaching and research focus on freedom of the press and access to public records influenced by artificial intelligence technologies.

 Prior to his academic appointment at Elon, Balderas taught journalism and media law at Palm Beach Atlantic University, where he also served as the faculty adviser to The Beacon Today, the school’s student-led publication.

Danielle McLean 

McLean is senior editor at Smart Cities Dive, a national online news publication that covers the most impactful news and trends shaping smart cities, and is proudly the first known openly transgender woman to serve on SPJ's Board. 

McLean is a current member and former chair of the SPJ Ethics Committee, where she promotes the tenets of SPJ's Code of Ethics. 

As president of the SPJ New England Chapter and chair of the Freedom of Information Committee, she was a staunch advocate of the free press and the public's right to know, overseeing the development of The Whistleblower Project.

Rebecca Aguilar

“I'm thrilled to welcome Israel Balderas, Danielle McLean and Cheryl Smith to the SPJ Board of Directors,” said SPJ National President Rebecca Aguilar. 

“They will continue to sharpen our focus on student journalism, diversity and inclusion, attracting new members to SPJ and carrying out the rest of SPJ’s strategic plan.

“The diverse experiences, ideas and enthusiasm they bring to the SPJ board will make SPJ, and journalism overall, stronger and better,” Aguilar said.

Jerry McCormick (Photo by David Poller)

Balderas and Smith replace Jerry McCormick and Bey-Ling Sha as one-year appointees.

Bey-Ling Sha

SPJ promotes the free flow of information vital to informing citizens; works to inspire and educate the next generation of journalists; and fights to protect First Amendment guarantees of freedom of speech and press. 

Support excellent journalism and fight for your right to know. Become a member, give to the Legal Defense Fund or give to the SPJ Foundation.

 

CONTACTS:

Rebecca Aguilar, SPJ National President,

317-361-4134, rebeccaaguilar50@gmail.com

Jennifer Royer, SPJ Director of Communications and Marketing, 317-361-4134, jroyer@spj.org

 

Stream Realty Partners Hires Tiffany Winne to Head New Office in Phoenix, AZ

 

Tiffany Winne

PHOENIX, AZ – Stream Realty Partners (Stream), a national real estate services, development, and investment company, has opened Stream Realty-Phoenix, LP which will be led by 19-year veteran Tiffany Winne, one of Phoenix’s leading commercial real estate tenant rep brokers, as Executive Managing Director and Partner.

Derek Land

Winne will oversee the growth of the office and region while continuing to specialize in working with office tenants in their real estate needs in Phoenix and across multiple markets.

"Phoenix is a market our clients continue to be interested in and where there continues to be strong economic growth,” said Stream's Head of New Markets Derek Land.

“Tiffany is not only a leader in commercial real estate in Phoenix but she is the perfect fit for our culture and the way we do business.

"We are really excited to continue the swift growth trajectory of our platform and extend our services in Phoenix under Tiffany’s leadership."

 "This was an extraordinary opportunity to play a leading role in the growth of a company whose values and business philosophy align with mine,” said Winne.

Chris Jackson

Winne comes to Stream from the Phoenix office of Savills North America, where she served as Vice Chairman and a member of its Board of Directors.

 "Stream's national office growth plan is deliberate and strategic to ensure it complements our existing platform and provides further value to our clients," stated Stream President Chris Jackson.

 "We are actively looking at additional markets to expand Stream's services and anticipate this will accelerate in 2022 due to the increase of new business and key hires.

"As our clients grow, we grow with them. As our resources grow, our team is positioned for additional career opportunities. It's a very exciting time to be at Stream."

  CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 www.streamrealty.com