JLL arranges $21.7 million acquisition of Class A office building in Chicago’s western suburbs

Hani Othman Baothman

 

CHICAGO, IL – JLL Capital Markets has arranged the acquisition of Oakmont Point, a 92,553-square-foot, Class A office building in the western Chicago suburb of Westmont, Illinois.

Oakmont Point, Westmont, IL

JLL worked on behalf of the owner, Ryan Companies US Inc, through a joint venture partnership with Sidra Capital to acquire the property. Additionally, JLL secured a 10-year, fixed-rate loan with a multinational investment bank.

Callie Meisel

“We are delighted by our latest acquisition, which matched our investment criteria for long income generating assets besides offering excellent upside opportunity through an aggressive asset management strategy,” said Chairman of Sidra Capital, Hani Baothman.

Jaime Fink

Completed in 2019, Oakmont Point is a three-story building offering tenants a wide variety of amenities, including an indoor/outdoor café, tenant lounge, fitness center, conference center, outdoor green space and underground executive parking. 

The property is 91.2% leased to two institutional quality tenants, JLL (S&P Global: BBB+) and Ryan Companies.

 Oakmont Point is located at 700 Oakmont Ln. less than 20 miles west of downtown Chicago. 

The property is just off of Route 83 near its intersection with Interstate 88 offering convenient access to Chicago O’Hare International Airport, Chicago Midway International Airport, and the surrounding Chicagoland suburbs.

Patrick Shields

In addition, Oakmont Point is positioned in an amenity-rich submarket offering numerous dining options, retail centers, country clubs, golf courses, and hotels that corporate users can access within minutes.

 TheJLL Capital Markets team representing the seller was led by Senior Directors Sam DiFrancesca and Patrick Shields and Senior Managing Directors Jaime Fink, Jeffrey Bramson and Bruce Miller. Support was provided by Logan Roston.

 JLL’s Capital Markets team leading the transaction included Director Lucas Borges, Managing Director Claudio Sgobba and Managing Director Christopher Carroll. Support was provided by Callie Meisel and Matt Maksymec.

Jeffrey Bramson

“We’re pleased to be further building on our relationship with Sidra Capital and Ryan Companies. 

"This is the first deal for Sidra under $100 million in the U.S. and given where cap rates have been trading for long income NNN product, we expect GCC sponsors to embark on aggregation plays whereby the investment volumes are going to be sub $30 million across the U.S. and Europe,” Sgobba said.

 “Oakmont Point’s premier sponsorship of Sidra Capital and Ryan Companies attracted an exceptional amount of interest from the lending community that continues to pursue newer construction featuring top notch amenities, accessibility and institutional quality tenants,” Borges added.

 

Bruce Miller

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.

 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

Ware Malcomb Promotes Studio Managers Caroline McNulty and Emerald Masangcay in Oak Brook, IL Office

  

 Caroline McNulty

OAK BROOK, IL – Ware Malcomb, an award-winning international design firm, announced that Caroline McNulty has been promoted to Studio Manager, Interior Architecture & Design and Emerald Masangcay has been promoted to Studio Manager, Site Planning, both in the firm’s Oak Brook office. 

In her role as Studio Manager, Interior Architecture & Design, McNulty helps lead the Interior Architecture & Design Studio and manages select projects.

Emerald Masangcay

McNulty joined Ware Malcomb as Designer in 2013. Her extensive interior architecture and design expertise includes managing tenant direct projects, landlord services, corporate accounts, tenant improvements and build-to-suit projects.

Her experience spans the corporate workplace, industrial, retail, hospitality and science and technology industries.

Dawn Riegel

McNulty holds a Bachelor of Fine Arts in Interior Design from Miami University of Ohio and is an NCIDQ Certified Interior Designer. 

“Caroline’s enthusiasm, client dedication and talented design eye have impressed clients both in the region and across the country,” said Dawn Riegel, Regional Director, Interior Architecture & Design for Ware Malcomb.

“A natural leader, she exemplifies the Ware Malcomb culture and has been a wonderful mentor to the Interiors team. We congratulate her on this promotion.” 

Jinger Tapia

“Under Emerald’s guidance, the Site Planning team has impressively tripled in size,” said Jinger Tapia, Principal, Design for Ware Malcomb.

“Emerald exemplifies the Ware Malcomb culture both in her team mentality and excellent client service. We look forward to her continued growth.”

Masangcay joined Ware Malcomb’s Site Planning team in the Oak Brook office in 2019. In her role as Studio Manager, Site Planning, she leads the team and is focused on design advancement and implementing enhanced delivery methods.

Her more than 15 years of experience includes site planning, space planning, and architectural building design.

 Masangcay holds a Bachelor of Architecture, cum laude, from the Illinois Institute of Technology and is LEED AP BD+C certified.

Ware Malcomb provides site planning services for industrial parks, office campuses, mixed-use projects, retail and medical complexes, among many others. 

 CONTACTS:

 Rachel Reenders

VP Public Relations

KCOMM for Ware Malcomb

rachel@kcomm.com

 Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

 Maureen Bissonnette, Associate Principal, Marketing,949.660.9128 

mbissonnette@waremalcomb.com

 

CBRE Expects Lodging Revenue Per Available Room Recovery by Mid-2023

 

 

 Rachael Rothman

 Dallas, TX –– Average daily rate (ADR) gains and a 35.1% year-over-year increase in hotel occupancy in Q3 showed demand for U.S. hotel stays endured in the face of the Delta variant.

Continued improvement in domestic travel and the rollback of many international travel restrictions have led CBRE to revise its forecast significantly upward in the near- and medium-term.

Revenue per available room (RevPAR) is now forecast to reach 2019 nominal levels by the second half of 2023, rather than in 2024, as previously forecasted.

“Typically, when recovering from downturns, ADR growth lags occupancy gains,” said Rachael Rothman, CBRE’s Head of Hotel Research & Data Analytics.

“The trend has reversed this cycle, owing to strong leisure demand and a nascent recovery in corporate and group demand.”

 Revenue management focusing on rate rather than occupancy, as well as continued staffing difficulties, may prevent occupancy from reaching the highs of the last cycle; however, an ADR-led rebound contributes to faster recovery of profits.

 

CONTACT:

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

 

Stan Johnson Co. Announces Sale of Texas McDonald's at Record Low Cap Rate in Webster, TX

 

Anne Perrault 

WEBSTER, TX -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the ground lease sale of 534 El Dorado Boulevard in Webster, Texas, a southeast suburb of Houston.

 The single-tenant retail property is occupied by McDonald’s. Anne Perrault and Ryan Butler of Stan Johnson Company represented the seller, a California-based private investor.

A 1031 exchange buyer from Houston, Texas purchased the asset at a 3.72 percent cap rate, setting a new state record for the lowest reported cap rate for a McDonald’s property. The purchase price was not disclosed.

 Ryan Butler 

“This was a very competitive process, and we ultimately selected a high-net-worth investor local to the property who was represented by an outside broker,” said  Perrault, Director in Stan Johnson's Tulsa, Oklahoma headquarters.

 “Overall, it was a very smooth transaction and closing, and we could not be happier for our client.”

The 5,344-square-foot quick service restaurant was originally built in 1989 and was fully renovated in 2020. The updated property features dual drive-thru lanes and is situated on nearly one acre in a robust retail corridor.

The site is less than a mile from Interstate 45 and just minutes from NASA’s Johnson Space Center.

CONTACT:

 David Ebeling

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com