JLL arranges $389 million refinancing of downtown Los Angeles data center One Wilshire

One Wilshire, a 661,553-square-foot,
 multi-tenant, critical technology asset
comprising a tier 3+-equivalent data
center and office space at
 624 South Grand Avenue
 in downtown Los Angeles, CA

  

LOS ANGELES, CA, Jan. 10, 2022 – JLL’s Capital Markets Group has arranged a $389.25 million refinancing for

One Wilshire, a 661,553-square-foot, multi-tenant, critical technology asset comprising a tier 3+-equivalent data center and office space in downtown Los Angeles, California.

Kevin MacKenzie

The international telecommunications industry considers the building the most important point of connectivity between the United States and the Pacific Rim.

 

JLL worked on behalf of the borrower, GI Partners, to place the 10-year, fixed-rate, non-recourse, full-term, interest-only loan with Goldman Sachs. Loan proceeds will be used to pay-off the current loan early and repatriate a portion of the equity.

 

Standing at 30-stories tall with a façade of white marble and glass, One Wilshire is one of the largest internet exchanges in the world and the most interconnected terrestrial facility in the Western United States.

Brian Torp

It is 89 percent leased to major interexchange and local exchange carriers, financial services companies, data communication companies and Internet service providers.

 The property boasts five separate utility power risers and 13 on-site generators with fuel storage for 24 hours of operation and priority refueling status, along with separate and redundant data risers, exceptional antenna line of sight to much of the Los Angeles basin, a multi-tower antenna array and fiber connectivity to the rooftop.

 

Located at 624 S. Grand Avenue, One Wilshire is at the epicenter of a vast in-ground fiber optic network. It is within Downtown Los Angeles, a vibrant district attracting high-growth tech, media and entertainment tenants, along with a highly educated workforce.

Jake Wagner

Demand for data center space has skyrocketed over the last two years. In 2020, increased data usage, including streaming services and virtual connectivity, caused record demand for data centers, which has continued through 2021.

 

 According to JLL Research’s most recent Data Center Outlook, the Los Angeles Data Center market absorbed 7.0 MW during the first half of 2021, a 250 percent increase over the 2.0 MW absorption levels in 2020.

 

 JLL anticipates the demand for faster, safer and more reliable content delivery will continue to propel the Los Angeles Data Center market.

 

The JLL team was led by Executive Managing Director Kevin MacKenzie, Managing Director Brian Torp, Director Jake Wagner and Associate Samuel Godfrey with JLL’s Capital Markets group, along with brokerage support from Managing Director Darren Eades.

Samuel Godfrey

“As one of the largest internet exchanges in the world, One Wilshire is truly a best-in-class asset recognized as the premier telecommunications hub of the Western United States,” MacKenzie said.

 

“GI Partners has done an excellent job managing the asset to maximize utilization and creating significant value.

 

"We were able to bring together a cross discipline team to secure the optimal results for our client, and all parties involved worked tirelessly to accomplish the goal of closing on a short time-line before year-end.”

  

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

 

 

CONTACT:

 

Kimberly Steele

 JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

gipartners.com.

 

jll.com.

Dream Finders Homes Now Selling Large Section of Silverleaf Development at St. Johns, FL

 ST. JOHNS, FL – Dream Finders Homes acquired 436 homesites at Silverleaf, an 8,500-acre master-planned development at St. Johns, FL where it plans to build both townhomes and single-family homes.

 The company’s new Silver Landing community will have homesites – many on conservation or water – in widths of 40, 50 and 60 feet, as well as townhome sites for three newly-designed floorplans, according to Division President Brad Muston.

 “We’ll have several floorplans from which homebuyers can choose to build their dream home,” Muston said.

 

“The plans, which range in size from 1,289 to 3,518 square feet of living area, should appeal to everyone from first-time homebuyers to growing families to retirees.”

 

Located on Brandon Lakes Drive , just south of County Road 210 along the St. Johns Parkway , Silver Leaf “is a fantastic community with many amenities and more than 3,500 acres of conservation land,” he said.

Brad Muston

“It has all of this, plus quick access to Interstate 95 and only a 25-minute drive to St. Augustine or Jacksonville .”

 

Prices at Silver Landing start in the low $300,000s.  Three single-family home models and two townhome models are expected to be ready for touring by summer, Muston said.

 

 

 

CONTACTS:

 

Ashlynn Wombolt, Marketing Manager Ashlynn.Wombolt@dreamfindershomes.com

 or Sales Consultant 888-208-7736  

 

Beth Payan, Larry Vershel Communications 

407-461-3781; beth@larryvershel.com 

 

www.dreamfindershomes.com 

or call 888-208-7736. 

 

JLL Capital Markets closes sale of 150,163-sf Apple Glen Crossing open-air power center in Fort Wayne, IN

 

 Amy Sands 

CHICAGO, IL, Jan. 10, 2022 – JLL Capital Markets has closed the sale of Apple Glen Crossing, a 150,163-square-foot, open-air power center anchored by Best Buy and Dicks Sporting Goods in Fort Wayne, Indiana.

 JLL marketed the property on behalf of the seller, Brixmor Property Group. Berengaria Development, the real estate arm of Marcus Investments LLC, a private investment firm, purchased the asset. 

Clinton Mitchell 

Ranked in the top five percent of shopping centers nationally and in Indiana, Apple Glen Crossing is 94 percent leased to a dominant lineup of national tenants such as Best Buy, Dick’s Sporting Goods, Kohl’s, Shoe Carnival, PetSmart and Ulta Beauty.

Adding to the diverse tenant mix are Triumph Box & Ryde, Cali Nails, Wendy’s, Sports Clips, Herbalife, America’s Best Contacts & Eyeglasses, Warhammer and The Hearing Center, among others.

 Completed in 2000, the asset also has space to expand with the addition of a 10,934-square-foot outparcel pad site, and the property is shadow anchored by a non-owned Kohl’s and large discount retailer.

 

Michael Nieder

Positioned on 17.43 acres at 1720-1770 Apple Glen Blvd., Apple Glen Crossing has excellent visibility due to its location between Illinois Road and Jefferson Boulevard, which have a combined traffic count of 56,308 vehicles per day.

 The property is also within Fort Wayne’s destination retail corridor, which helps drive traffic to the center, which, according to Placer.ai, has welcomed 3.7 million visitors over the past 12 months.

The center serves a trade area that includes137,293 residents and 117,687 daytime employees within a five-mile radius.

Tim Murray

The JLL Retail Capital Markets team representing the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder, along with Vice President  Tim Murray.

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

CONTACT:

Kimberly Steele

 JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 jaypeirick@marcusinvestments.com. 

 jll.com.