Orange County, CA office building commands $91 million in recent sale

 

Makenna Peter

 

NEWPORT BEACH, CA, Aug. 2, 2022 – JLL Capital Markets announced today that it has closed the $91 million ($758 per square foot) sale of 1382 Bell, a 120,000-square-foot, single-tenant flex office building in the Orange County community of Tustin, California.

 Blake Bokosky

JLL advised the sellers, a joint venture between SteelWave and their institutional investor.

 

The JLL Capital Markets team representing the seller was led by Senior Director Blake Bokosky, Director Mark DeGiorgio, Senior Managing Director Michael Leggett, Managing Directors Adam Lasoff and Patrick Burger and Associate Makenna Peter.

 

1382 Bell Ave. is positioned on a 5.97-acre site adjacent to the 1,600-acre Tustin Legacy master-planned community and close to the District at Tustin Legacy, which boasts more than 80 retail stores and restaurant offerings.

Mark DeGiorgio

The property has a core location with convenient access to three major freeways, State Route 55 and the 5 and 405 Freeways linking the site to all of Orange County and Southern California.

 

1382 Bell offers two stories of Class A, flex office space with generous window lines and ceiling heights, high-end finishes and ample surface and secured parking.

 

The County of Orange leases the entire facility on a long-term basis through 2047.

 

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

Michael Leggett

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.

 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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

  

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

 CONTACT:

 

Kristen Murphy

Director, Public Relations, Americas

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

Arcadia Management Group Debuts New Phoenix Office, Complete with Bowling Alley

 

Bowling alley offered to fourth-floor
office tenants in 3550 North Central
 office tower, downtown Phoenix, AZ

 

 PHOENIX, AZ — After an all-too-familiar pandemic delay, Phoenix-based property management leader Arcadia Management Group (AMG) has relocated and expanded its downtown Phoenix headquarters within the 3550 N. Central office tower.

The new space welcomes employees back with amenities for work and play, including a unique attraction for a fourth-floor office tenant… a bowling alley.

 “It took us longer than expected to debut our new headquarters, but we were happy that we’re here now,” said Arcadia Management Group President Gary Shaw.

Gary Shaw

“We have exceptional employees who work exceptionally hard, and we have new employees joining the firm each month.

"This office allows us to accommodate for that growth, making it easier for employees to collaborate and giving them a fun environment in which to celebrate their accomplishments. And nothing says celebrate like a bowling alley!”

As a nod to the ownership’s Arcadia roots, the new AMG headquarters reception and copy areas feature wood harvested from a tree that had been scheduled for removal within the Arcadia neighborhood.

 “Our greatest feat, though, is the bowling alley,” said Mark Zimmerman, Arcadia Management Group’s National Director of Construction Management.

Mark Zimmerman

“We used carefully selected materials and worked with acoustics specialists to ensure that this amenity had zero sound implications for the tenants above or below us.

"Being able to problem solve to make the bowling alley vision a reality was a high point for our construction team, and reflects the commitment we make to all of our Arcadia projects.”

Since its founding in Phoenix in 1986, AMG has become a national entity managing more than 60 million square feet of U.S. office, industrial and retail space, and providing tenant and capital improvements through its in-house construction management division.

 Totaling 18,500 square feet, the new AMG headquarters features independent and collaborative workspaces, a white noise sound masking system, private phone rooms, maternity room, and training and conference space featuring a 20-foot door that opens to seamlessly connect with a full-service kitchen, dining and break area.

 For more information, contact leasing brokers Scott Boardman and Dave Carder of Cushman & Wakefield, at 602.954.9000.

  CONTACT:

Stacey Hershauer

FocusAZ

480.600.0095

stacey@focusaz.com

www.arcadiamgmt.com.

 

Azor Advisory Services Arranges Lease for New-to-Market Car Wash Concept in Doral, FL

 

Beth Azor

 Doral, FL, Aug. 2, 2022 -- Weston-based Azor Advisory Services arranged a long-term land lease for development of a new-to-market car wash concept in Doral.

 Azor represented the landlord, Lapciuc Group, Inc. in leasing a 0.7-acre parcel located at 1350 NW 87^th Avenue to Driven Brands for a Take 5 Car Wash.  

The new business will replace a former Taco Bell restaurant scheduled for demolition.  Bryan Fetherston of the Shopping Center Group represented the tenant.

Bryan Fetherston

“With the growth population, we are seeing a heightened demand for car washes in South Florida, which is ratcheting up the competition for premium locations,” said Beth Azor, CEO of Azor Advisor Services.  

“Our Doral site is in a well-trafficked area that is highly visible, and should be an ideal place for Take 5’s entry into the market.”

 In 2021, Azor announced that another Driven Brand concept, Take 5 Oil Change, would build a 1,421-square-foot facility on an out-parcel at the East Hialeah Market on 79^th Street in Hialeah. 

Fetherston represented the Take 5 in that land lease as well.  

 CONTACT:

for Azor Advisory Services

Todd Templin

ttemplin@boardroompr.com

954-370-8999

www.bethazor.com.

 

 

 

 

JLL Capital Markets closes $17 million sale of the 76-unit, mixed-use Freshwater Apartments in downtown Milwaukee, WI

 

Amanda Friant

 

Chicago, IL, Aug. 1, 2022 – JLL Capital Markets announced today that it has closed the $17.4 million sale of Freshwater Apartments, a 76-unit, mixed-use apartment building in the Harbor District on the eastern edge of Walker’s Point in downtown Milwaukee.

 JLL marketed the property on behalf of the seller, Wangard Partners, Incorporated. Bender Companies acquired the asset.

Wick Kirby

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Director Wick Kirby, Director Amanda Friant and Senior Managing Director Jaime Fink.

"We are excited to expand our portfolio into the Walker's Point neighborhood of Milwaukee with the acquisition of Freshwater Apartments," said Mark Barnes, Investment Director for Bender Companies.

Jaime Fink.

"The strong employment growth and area demand drivers will continue to fuel apartment demand in the immediate area,"

                   Mark Barnes

Built in 2017, Freshwater Apartments features studio, one- and two-bedroom units with an average square footage of 635 square feet.

Freshwater Apartments, 1320 South1st  Street,
downtown Milwaukee, WI

Situated at 1320 South1st  St. within Freshwater Plaza, the property is proximate to full-service grocer, Cermak Fresh Market, as well as brand new developments, including UW-Milwaukee School of Freshwater Sciences and machinery manufacturer Komatsu’s new North American headquarters.

In addition to the Harbor District and Walker’s Point, the property proximate from additional vibrant neighborhoods, including Third Ward and Bayview.

 

 CONTACT:

 Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

Cozza Investment Group expands to South Florida

  

Alicia E. Cervera

Miami, FL – Cozza Realty Group Inc., powered by Cozza Investment Group with 20 years of experience, announces the leading luxury brokerage’s entrance into the South Florida market with very exciting luxury projects while it continues to expand its presence along both of Florida's coasts.

 

CIG has built a team of 20 bilingual and diverse agents who will specialize in luxury homes throughout the Miami metro area, focusing on Downtown Miami, Brickell, Wynwood, Coral Gables, and Coconut Grove. CIG also plans to expand into Palm Beach.

 Brad Cozza

 

"As one of the fastest growing markets in Florida, Miami is a region we have been targeting as a key component of our expansion strategy," said Brad Cozza, owner of Cozza Investment Group.

 

"CIG brings an incredibly talented group of agents to grow with us as the leading luxury brokerage along both coasts of Florida.

 Miami skyline

 

"Backed by our industry-leading resources, I am confident they will continue to outperform in the Florida market."

 

Since its inception, CIG has had 10 billion in sales.

 “Brad and his team at The Cozza Investment Group have been wonderful to work with," said Alicia E. Cervera, Principal of Cervera Real Estate, the lead brokerage firm for Lofty Residences and Aston Martin Residences.

  "The volume of clientele he has brought into our pre-construction projects has been amazing!”

 CONTACT:

 claudia@taraink.com

eden@taraink.com

TARA, Ink.