JLL’s Hotels & Hospitality Group led the $49 million sales efforts for the 143-key, Hyatt Place El Segundo select-service hotel in El Segundo, CA

The Hyatt Place Los Angeles / LAX / El Segundo,
 a 143-key, select-service hotel
located at 750 N Nash Street 
in El Segundo, CA

 

 LOS ANGELES, CA – JLL’s Hotels & Hospitality Group has closed the $49 million sale of the Hyatt Place Los Angeles / LAX / El Segundo, a 143-key, select-service hotel in El Segundo, California.

 JLL represented the seller, Washington Holdings, and procured the buyer, El Segundo-based Welcome Group, Inc. The hotel was sold unencumbered by management.

John Strauss

 Located at 750 N Nash St., the Hyatt Place El Segundo is ideally positioned in the coastal city of El Segundo, which features numerous corporate and leisure demand drivers.

 The city is home to prominent defense and aerospace firms as well as three sports teams: the NBA’s Los Angeles Lakers, the NHL’s Los Angeles Kings and the NFL’s Los Angeles Chargers.

James Stockdale

The Chargers are in the process of building a new state-of-the-art practice facility that will further bolster demand in the area.

 In addition, the Hyatt Place El Segundo is close to Los Angeles International Airport and accessible via the 405 and 105 Freeways.

 The Hyatt Place El Segundo, which was recently renovated in 2020, offers traditional guest rooms and king suites that average 369 square feet each.

Melvin Chu

Guests have access to on-site amenities, including The Placery bar and restaurant, The Market grab-and-go outlet, a fitness center, outdoor pool and electrical vehicle charging station.

 In addition, the pet-friendly hotel features a business center and 1,054 square feet of meeting or event space.

 The JLL Hotels & Hospitality team representing the seller was led by Senior Managing Director John Strauss, Managing Director James Stockdale and Executive Vice President Melvin Chu.

The Placery bar and restaurant, El Segundo, CA

“The Los Angeles area benefits from strong corporate and leisure demand that continues to grow as the city diversifies from an entertainment mecca to an international hub for technology, media, finance, trade, manufacturing and more,” Strauss said.

 “El Segundo in particular has experienced substantial growth with major firms located near the hotel including AT&T, Mattel, Boeing, Raytheon, and Spectrum.”

“The Hyatt Place El Segundo is well-positioned for continued growth in a dynamic market,” Chu said. “We’re grateful and honored for the opportunity to represent the seller on this important assignment, and excited for the buyer and the future of this hotel.”

 JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide.

The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.

 Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

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

  

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

 

JLL Capital Markets handles $124 million post-close acquisition financing for single-tenant cold storage facility at 14950 Meridian Parkway in Riverside, CA

Alethia Halamandaris

 

 LOS ANGELES, CA – JLL Capital Markets has arranged $124 million in post-close acquisition financing for 14950 Meridian Parkway, a 1,170,994-square-foot cold storage facility in Riverside, California.

 

JLL worked on behalf of the borrower, IDS Real Estate Group, in securing the 10-year, fixed-rate loan with Northwestern Mutual.

 United Natural Foods' 1,170,994-SF
 cold storage facility in Riverside, CA

 The property is 100% leased to United Natural Foods, Inc. (NYSE: UNFI), the largest publicly traded wholesale distributor serving the United States and Canada.

 

This location serves as UNFI’s main cold storage facility in Southern California. 

 Paul Brindley

Originally completed in 2007 and subsequently renovated and expanded in 2020, the facility is comprised of 39% cold storage and 61% dry storage space with temperature-controlled warehouse space ranging from -10°F to +60°F.

 

The project offers 42’ clear heights, 185 dock doors and approximately 700 parking spaces.

 

Positioned on 59.4 acres within the Moreno Valley/Perris industrial submarket, 14950 Meridian Parkway is adjacent to Interstate 215, which provides seamless access to other major thoroughfares.

Matt Stewart

As a result, the property is well positioned to serve Los Angeles, San Diego and the Inland Empire, with access to the entire western U.S. 

 

The JLL Capital Markets team representing the borrower was led by Head of Debt Advisory – Asia Pacific Paul Brindley, Senior Director Matt Stewart and Director Alethia Halamandaris.

 

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

CONTACT:

 Cierra Lacasse

PR, Hotels & Hospitality,

 Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

Ware Malcomb promotes Catalina Rocha to studio manager in Vaughan, Ontario California office

Catalina Rocha

 

VAUGHAN, Ontario, CA, Sept. 27, 2022 – Ware Malcomb, an award-winning international design firm, today announced that

Catalina Rocha has been promoted to Studio Manager in the firm’s Vaughan, Ontario office.

As Studio Manager, Rocha is responsible for leading the Architecture team and managing clients and select projects.

A licensed architect with more than 25 years of experience, Rocha has a background in architecture and interior architecture that includes industrial, office and retail projects.

Mississauga Gateway Centre HOOPP

Rocha joined Ware Malcomb in 2013 as a Project Manager. She has worked on several key projects in the region, including Mississauga Gateway Centre HOOPP, a 450,000 square-foot, two-tower office project, and her clients have included Triovest, Acklands-Grainger, Prologis and MiTek, among many others. 

Frank Di Roma

“Catalina is an excellent mentor and a strong leader,” said Frank Di Roma, Principal for Ware Malcomb. “She has helped strengthen our quality control oversight and enhance our project delivery platform to better serve our clients.

"We are pleased to promote her and look forward to her continued contributions.” 

Rocha earned a Bachelor of Architecture from Universidad de los Andes, Colombia and a Graduate Degree in Construction Management from Pontificia Universidad Javeriana, Colombia.

She is certified by the Canadian Architectural Certification Board and is a registered architect with the Ontario Association of Architects.

 

CONTACTS:

 Rachel Devany

VP Public Relations

KCOMM for Ware Malcomb

rachel@kcomm.com

:

Maria Rodgers

 Director, PR & Communications

 949.660.9128

 mrodgers@waremalcomb.com

 

Maureen Bissonnette

Principal, Marketing

 949.660.9128

 mbissonnette@waremalcomb.com

 

http://waremalcomb.com/news and view Ware Malcomb’s Brand Video at youtube.com/waremalcomb

 

Ware Malcomb

waremalcomb.com

 

Ware Malcomb Vaughan
180 Bass Pro Mill Dr. #103
Vaughan, ON L4K 0G9, Canada
P: 905.760.1221

 

JLL Capital Markets welcomes Jorge Portela to the retail investment advisory team

 

Jorge Portela

MIAMI,  FL, Sept. 27, 2022 – JLL Capital Markets announced today that it has welcomed Senior Director Jorge Portela to its retail investment sales advisory team.

 Portela is based in the Miami office and reports to Senior Managing Director Danny Finkle, who co-leads the U.S. JLL Retail Capital Markets team.

 After spending six years with HFF as a Director earlier in his career, Portela is returning as a member of JLL, who acquired HFF in 2019, to continue to build its retail business throughout the South Florida market.

 Danny Finkle

“Jorge has been a great friend, client and partner over the past decade, and we could not be happier with the opportunity to continue to work together,” said Finkle.

 “Jorge is one of the most talented professionals in the industry and is very well-respected from his time with HFF and Riverstone Capital.”

 In Portela’s previous time at HFF, he advised clients on over $3 billion in real estate transactions throughout the Southeastern United States as a member of the office investment sales team.

Portela earned a Bachelor of Science in Business Administration from the University of Florida and received his master’s degree in Business Administration from New York University.

CONTACT:

 Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

JLL Capital Markets brokers sale of a 59,519-square-foot, single-tenant Stop & Shop grocery store in Norwell, MA

 Tess Gruenstein

 

 BOSTON, MA, Sept. 27, 2022 – JLL Capital Markets announced today that it facilitated the sale of a 59,519-square-foot Stop & Shop in Norwell, Massachusetts to the Bailard Real Estate Fund.

 JLL represented the seller in the transaction. This represents the second acquisition of a Stop & Shop center in the greater Boston area for Bailard.

“Stop & Shop is a premier supermarket operator in the market, evidenced by its robust sales," .” said Tess Gruenstein, Senior Vice President of Acquisitions and Portfolio Management at Bailard.

 "We were eager to add this location to our portfolio for its attractive location and cash flow yield."

Nat Heald

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Nat Heald.

Stop & Shop is the dominant supermarket operator in New England by both total volume and store count.

Founded in 1914, the company currently operates over 400 locations in the U.S. and around 126 locations in Massachusetts.

Stop & Shop is a division of Ahold Delhaize USA, Inc., which, as a combined entity, operates over 2,000 grocery stores and posted 2021 net sales of $45.5 billion, making it the third largest grocery operator in the United States.

 Situated at 468 Washington St., the property is located approximately 20 miles south of Boston. The store’s location off of Pilgrims Highway (Route 3) provides customers easy connectivity to and from the area.

CONTACT:

 Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

JLL’s 2022 Data Center Forum brings together leaders to discuss factors affecting the industry

 

Amber Schiada

 

CHICAGO, IL – JLL recently brought together top data center thought leaders to discuss the main factors affecting the industry at its 2022 Data Center Forum.

 

Held in Park City, Utah, the key insights gained from the forum include carbon accounting, sustainability, infrastructure challenges in emerging markets and investment appetite.

 

“The overall goal of the Data Center Forum was to create an environment to define issues impacting the industry and educate, collaborate and challenge the way we deploy and operate data centers today,” said Brian Kortendick, JLL Executive Director, Global Data Center Strategy.

 Brian Kortendick

“Sustainability is at the forefront of industry challenges, we all, together, need a concentrated effort to develop new concepts, practices and innovative approaches to achieve sustainability goals.”

 

You cannot measure what you cannot define

 

Like other commercial real estate asset classes, data centers all have high initial carbon output. With its high reliance on power consumption, the ongoing operational carbon output is materially higher, thus data center owners have an obligation to invest in sustainable ways of doing business.

 

Carbon accounting, or greenhouse gas accounting, is how organizations quantify their greenhouse gas emissions, and carbon tagging – which summarizes the GHG data – as a practice will be an essential part of carbon accounting moving forward.

 

 JLL recommends that all organizations prepare for this new process.

 Sean Farney

“Whether self-regulated through something like the iMasons Climate Accord or more strictly regulated through the SEC in the U.S. and the Corporate Sustainability Reporting Directive in the EU, the industry will soon have much more robust need for sustainability assessment, accounting, reporting and monitoring,” said Sean Farney, JLL Executive Director for Data Center Strategy and Innovation.

 

Adapting and/or optimizing existing processes for sustainable operations

 

Because the data center industry is astute at being able to continually adapt and improve, it can excel at sustainable operations, and all operational elements within the data center space represent sustainability opportunities.

 

Companies must first assess their entire mechanical and electrical plant and take advantage of reliability-based maintenance that structures asset replacements and investments toward operational objectives that materially overlap with driving sustainability goals.

Daniel Kirschner

“The tradeoff between investments in sustainable objectives and revenue-generating assets for companies will always be a challenge,” added Daniel Kirschner, JLL Head of Growth and Business Development, Work Dynamics.

 

“The key is strong governance with top-down support and initiatives that take advantage of both increasing reliability and reducing carbon output concurrently. Both objectives can go hand in hand with a proactive, and predictive, maintenance and replacement approach.”

 

Powering through challenges

 

JLL’s recent Data Center Outlook discussed emerging markets and how absorption has reached new records in the U.S., with hyperscalers driving the demand and creating fierce competition in the market by paying top dollar to secure sites. This has also led to an imbalance between supply and demand.

 

 “Power supply is critical, and having access to power secured in time with delivery will drive success in leasing, as data center users need speed to market and confidence in delivery in order to commit,” said Amber Schiada, JLL Head of Americas Data Center Research. 

Carl Beardsley

“The capital appetite towards data centers far exceeds the volume of opportunities,” said Carl Beardsley, Senior Director, JLL Capital Markets.

 

“The volatile debt markets have impacted commercial real estate valuations across all asset classes, but data centers are viewed as resilient, high-yielding investments and will continue to remain in high demand.”

 

There’s a healthy mix across the market for speculative versus build-to-suit investments. Spec developers are getting sites “pad ready” with infrastructure but are waiting to build vertical until a tenant is secured.

 

Alternatively, developers will build the shell but wait for a tenant for their unique fit-out needs.

Andy Cvengros

 “The size and velocity of recent leases being completed has led to significant availability constraints that will only get worse in 2023 across most of the major markets,” said Andy Cvengros, JLL Managing Director. 

 

“This will be exacerbated by limited available land for development, transmission power delivery lead times and product availability.

 

"We expect some relief in 2024; however significant preleasing will continue to drive issues in capacity pipeline projections moving forward. We should see new submarket expansion and further secondary market development to alleviate the constraints.”

 

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

 

 CONTACT:

 Kimberly Steele

Phone: +1 713 852-3420

Email:  Kimberly.Steele@jll.com

jll.com.