JLL Capital Markets lists sale of the Promenade at Carolina Reserve in Indian Land, SC for $75 million

Promenade at Carolina Reserve, Indian Land, SC

 

Jim Hamilton

CHARLOTTE, NC –

 JLL Capital Markets has been engaged by Hutton Development Co. to exclusively market for sale Promenade at Carolina Reserve, a fully leased super-regional retail center with 255,868 square feet of multi-tenant space in the Charlotte-area community of Indian Land, South Carolina, for $75 million. 

Promenade at Carolina Reserve was built in 2018 and is anchored by a best-in-class, high-performing tenant lineup that includes T.J.Maxx, Burlington, Ross Dress for Less, HomeGoods, Ulta Beauty, Hobby Lobby, Petco and Dollar Tree.

 Tom Kolarczyk 

Additionally, an investor has the opportunity to acquire up to five single-tenant outparcel pads totaling 22,410 square feet and occupied by Heartland Dental, The Habit Burger Grill, Taco Bell, Chili’s and Mavis Discount, either together or on a one-off basis.

According to Placer.ai, this is the most visited retail center in a five-mile radius, given its 2.27 million annual visitors, and pulls from an extended trade area that includes a more than 50-mile radius and 305,000 customers.

Brad Buchanan

Located at the intersection of US 521 at Jim Wilson Road, Promenade at Carolina Reserve is in Indian Land just over the border between North and South Carolina and within the rapidly growing Charlotte metro area.

 This affluent and educated suburban submarket is proximate to the Ballantyne and Rock Hill employment hubs that are home to 35 Fortune 500 companies and experiencing explosive home and population growth that is estimated to increase 22 percent over the next five years.

Ryan Eklund 

Currently, more than 62,740 residents earning an average annual household income of $135,965 live within a five-mile radius of the property.

 The JLL Capital Markets Investment Sales Advisory team that is representing the seller is led by Senior Managing Director Jim Hamilton, Senior Directors Tom Kolarczyk and Brad Buchanan, Director Ryan Eklund and Associate Andrew Kahn. 

 “Promenade at Carolina Reserve is one of the best retail centers to be marketed for sale in 2021,” Hamilton said.

 “The asset is located in one of the fastest growing submarkets in the U.S. and consists of dominant best-in-class anchors with significant lease term remaining”

Andrew Kahn

 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.

 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.

 

CONTACT:

Kimberly Steele

PR, Capital Markets

 Agency Leasing and Valuation Advisory 

JLL

M +1 832 244 9994

JLL.com

JLL Capital Markets and Spectrum Development Solutions jointly broker $42.4 million sale-leaseback of medical office building in Seattle, WA

Kris Richey Curtis

  

SEATTLE, WA – JLL Capital Markets has closed the $42.5 million sale of 700 Broadway, a 39,115-square-foot medical office building in Seattle, Washington.

 JLL and Spectrum Development Solutions represented the seller, Northwest Kidney Centers, in a sale-leaseback transaction.

 Rebecca Fox

 700 Broadway is a recently renovated, five-story medical office building with an adjoining four-story, 85-space parking garage.

 The building features average ceiling heights of 11’ and 6,800-square-foot average floor plates.

Logan Greer 

 Northwest Kidney Centers occupies the entire facility and has leased back the space on a short-term basis post-close.

 Positioned on a 0.74-acre site at 700 Broadway, the property is immediately adjacent to and connected via the underground tunnel system to Swedish Medical Center First Hill.

 Gerry Rohm

This location is within the First Hill medical office market, which boasts more than six million square feet of outpatient medical office with an average 97 percent occupancy rate.

 With a WalkScore® of 97 and a Transit Score® of 94, 700 Broadway is within walking distance of the area’s most prominent hospitals, including Virginia Mason, UW Medicine Harborview Medical Center and the Polyclinic.

 The sale of Northwest Kidney Centers facility at 700 Broadway marks a significant milestone for the organization,” said Rebecca Fox, Northwest Kidney Centers CEO.

  “As part of our long-term strategy to consolidate our downtown operations, it will enable us to further invest in our mission to promote the optimal health, quality of life and independence of people with kidney disease.”  

 Evan Kovac

 The JLL Capital Markets team representing the seller was led by Senior Managing Director Gerry Rohm, Senior Director Logan Greer and Managing Director Evan Kovac.

 “It was a pleasure working with Northwest Kidney Centers, Spectrum Development Solutions and the buyer on this transaction,” Greer said. “We look forward to watching First Hill’s innovation ecosystem continue to grow.”

JLL Managing Director Kris Richey Curtis provided leasing advisory services during the transaction.

 “As a long-time advisor and partner of Northwest Kidney Centers, we are very grateful the sale of 700 Broadway was such a success as it paves the way for a new chapter for the organization in Seattle,” said Jake McKinstry, Principal of Spectrum Development Solutions. “The JLL team did an excellent job ensuring we found the right buyer.”

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

Jake McKinstry

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. 

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.

 

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

 spectrumdevsolutions.com.

jll.com