JLL Capital Markets closes sale of 149,709-SF light industrial building in a highly sought-after logistics location in Charlotte, NC

149,709-square-foot logistics facility
in an infill location in Charlotte, NC

 

 CHARLOTTE, NC – JLL Capital has closed the sale of a 149,709-square-foot logistics facility in an infill location in Charlotte, North Carolina.

 JLL worked on behalf of the seller, Piedmont Land Development, Inc. LM Real Estate Partners acquired the property.

Pete Pittroff

The facility is situated on approximately 16 acres at 6924 Orr Rd. in an infill location in the booming Charlotte MSA, which has experienced cumulative population growth of over 50 percent since 2000, with projections for even more growth over the next three years.

This growth has cemented Charlotte’s position as the third fastest-growing major city in the country and a major East Coast logistics hub that facilitates distributors reaching more than 50 percent of the U.S. population within a two-day’s drive.

 

Patrick Nally

The JLL Capital Markets team representing the seller was led by Senior Managing Director Pete Pittroff; Managing Director Patrick Nally; Director Dave Andrews and Analysts Michael Scarnato, Josh McArdle and Zach Lloyd.

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

Dave Andrews 

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 Piedmont Land Development

Piedmont Land Development, Inc. is a real estate investment and development firm based in Davidson, North Carolina.

Founded in 1997, the firm and its partners own and manage a diversified portfolio of assets, including a portfolio of industrial properties throughout the Southeast.

 

Michael Scarnato

About LM Real Estate Partners

Founded in 2015 by Jared Marcus and John Livanos, LM Real Estate Partners is a fully integrated commercial real estate operating company specializing in the acquisition and operation of industrial real estate.

LM is responsible for all aspects of capital raising, acquisition, leasing and property management of warehouse-distribution focused industrial properties. LM has acquired and manages 1.5 million square feet of industrial real estate.

Josh McArdle

 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.

Zach Lloyd

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 92,000 as of June 30, 2021.

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

Contacts:

George Shea, Rachel Tate

Company: Shea Communications

Phone: +1 760 519 4596

Email: rachel@sheacommunications.com

 

CBRE Updates U.S. Lodging Forecast to Further Account for Delta Variant’s Impacts

 

Rachael Rothman

Dallas, TX – The COVID-19 Delta variant’s emergence and spread has hampered plans for group and business travel this fall and winter, spurring CBRE Hotels Research to temper its expectations in September 2021 for Q4 2021 U.S. lodging performance on a national basis.

 CBRE’s tempered outlook extends into 2022, given the likelihood that corporate travel budgets will remain constrained next year.

 Earlier this year, the lodging outlook had been brighter due to strong leisure demand boosting summer occupancy levels beyond expectations at U.S. hotels.

But the emergence of the Delta variant sapped momentum from more lucrative business travel, giving rise to a concerning “second-derivative” market condition in which the recovery continues but at a slowing pace.

Bram Gallagher 

“The Delta variant and increasing number of COVID infections led to delays in ‘return to office’ plans at many firms and coincided with the start of the 2022 travel-budgeting season,” said Rachael Rothman, CBRE’s Head of Hotel Research & Data Analytics.

“Unfortunately, for business centric hotels, the rebound in business travel expected in September of 2021 is now delayed and will likely have a ripple effect into 2022’s corporate travel budgets.”

                    Orlando International Airport

 

CBRE forecasts that U.S. hotels will achieve a 2021 annual occupancy level of 54.0%, along with an average daily rate (ADR) of $112.85.

“In general, Sunbelt cities and drive-to leisure destinations are expected to perform the best, while group-oriented hotels, northern markets, and global gateway cities reliant on inbound international travel are projected to lag in performance,” said Bram Gallagher Ph.D., Senior Hotel Economist with CBRE Hotels Research.

“The pace of recovery for business and group demand is top of mind for most hoteliers.”

 CBRE is forecasting an occupancy gain of 8.0% in 2022, plus a 7.1% boost to ADR. The net result is a 15.6% forecast increase in RevPAR for the year.

 The September 2021 editions of Hotel Horizons® for the U.S. lodging industry and 65 major markets may  be purchased by visiting: https://pip.cbrehotels.com.

  Contact:

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.cbre.com.

 

Alliant National Title Hires Rae Jeanne Steele as Southwest Agency Representative

Rae Jeanne Steele

 

Longmont, CO, Oct. 12, 2021 – Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position, announces the hiring of Rae Jeanne Steele as Southwest Agency Representative. Steele is a deeply knowledgeable and talented professional with a long history in the field, having grown up helping manage her mother’s Texas real estate firm.  After receiving her license in 1994, she led a team within that firm, and for the past decade, she has been busy assisting her husband with their business and managing her real estate practice. Steele’s past experiences will serve her well at Alliant National, where she will split her time between agency responsibilities and providing continuing education materials to realtors. KC West “Through my conversations with the amazing people at Alliant National and the clients they serve, I knew instantly that this was the place I was meant to be,” Steele said. “I am impressed with the genuine team spirt and the desire to help each other be successful. I am just so blessed to be a part of the Alliant National family.” "Rae Jeanne brings a valuable array of skills and talents to Alliant National, and we can’t wait to see all the great things she will accomplish," said KC West, SVP and Southwest Region Manager for Alliant National.  "I'm deeply impressed with her passion and wealth of experience. To put it simply, Rae Jeanne will be a remarkable asset to our Southwest Region."

CONTACT:

Cathie Beck 303.241.0805 cathie@capitalcitypr.com  alliantnational.com

JLL Capital Markets completes $12.7 million sale of Columbia Promenade shopping center in Kissimmee, FL

  

Kim Flores

MIAMI, FL – JLL Capital Markets has closed the $12.7 million sale of Columbia Promenade, a 65,853-square-foot, Publix-anchored shopping center in the Orlando-area community of Kissimmee, Florida.

 JLL represented the seller, PMAT Companies, in this off-market transaction after introducing the buyer to this targeted deal.

Columbia Promenade, a 65,853-square-foot,
Publix-anchored shopping center
 in the Orlando-area community
of Kissimmee, FL

 As an entrepreneurial platform funded by private capital, PMAT was able to acquire the property at opportunistic pricing amidst the dislocation in capital markets during the Global Health Crisis in mid-2020 and to, thereafter, quickly complete lease-up and stabilize the rent roll, resulting in a prime acquisition profile for the buyer.

Danny Finkle 

 Completed in 2000, Columbia Promenade is 98.6 percent leased to a diverse tenant roster led by Publix, H&R Block and MetroPCS, to name a few.

 Situated on 9.7 acres at 1251 W. Columbia Ave., the property is in a high-traffic location with frontage along John Young Parkway, which provides regional connectivity.

Columbia Promenade is in a dense, infill location with nearly 75,000 residents who live within a three-mile radius. The area has a strong projected population growth of 8.2 percent within the next four years.

 The JLL Capital Markets team that represented the seller was led by Senior Managing Directors Danny Finkle and Brad Peterson, Senior Directors Eric Williams and Whitaker Leonhardt and Vice President Kim Flores.

Brad Peterson

 “Columbia Promenade represented an attractive opportunity to acquire a high-quality Publix-anchored asset in one of the Orlando MSA’s most rapidly growing trade areas,” Williams said.

“PMAT did a tremendous job positioning the property for long-term success, and Columbia Promenade will serve as a great addition to the buyer’s portfolio.”

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.

Eric Williams 

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 PMAT Companies

 

PMAT is a real estate development and investment firm focused on value-add Select Open Air Retail (SOAR) investments across the Southeast, Sunbelt, Midwest and Mid-Atlantic regions.

 

The initial PMAT platform was founded by ICSC Trustee Robert A. Whelan in 2003 and the team has since acquired and renovated nearly 50 primarily grocery-anchored shopping centers with an aggregate transaction value of over $1 billion consisting of approximately 10 million square feet in total.

Whitaker Leonhardt

PMAT’s investment strategy is to acquire value-add select open-air retail anchored by grocery, discount, off-price and necessity tenants and to create long-term value through redevelopment, renovation and re-tenanting of these fundamentally strong assets.

 

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.

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 92,000 as of June 30, 2021.

Robert A. Whelan 

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

 

Contact:

Kimberly Steele

JLL Manager

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.