JLL Capital Markets completes $17 million sale of Lakeridge North, a 93%-occupied office asset in the Six Forks submarket of Raleigh, NC

  

 Sarah Holloway

RALEIGH, NC – JLL Capital Markets  has completed the $17.25 million sale of Lakeridge North, a 72,218-square-foot office building in Raleigh, North Carolina.

 Lakeridge North, a 72,218-square-foot
 office building in Raleigh, NC

JLL represented the seller, TriGate Capital, in the sale of the property.  The buyer was a private investment fund that was represented by Richard Fisher of Hold Thyssen, Inc. and Michael Waldrop of Waldrop Properties, LLC.

Richard Fisher

Lakeridge North sits on 5.12 acres and is a four-story, multi-tenant office building that is 93% leased to a diverse tenant roster consisting of companies in finance, law, insurance, pharmaceuticals and more.

 The property was renovated in 2021 and features a new lobby, common areas, conference and training rooms and fitness center. 

 

The property is positioned on a lakefront setting at 900 Ridgefield Dr. within the Six Forks submarket.

Michael Waldrop
 

This highly attractive infill location is minutes from the North Hills mixed-use district with a rapidly improving demographic profile driven by millennial workers and young families moving to the area, and excellent access to all points of the Raleigh-Durham market.

 

The JLL Capital Markets team representing the seller was led by Directors Daniel Flynn and John Mikels, Senior Managing Director Ryan Clutter and Analyst Sarah Holloway.

Daniel Flynn 

“TriGate Capital executed a flawless value-add program at this asset, which created a very attractive stable, long-term investment opportunity for the purchaser,” Flynn commented.

 

“Opportunities such as this are highly sought after by real estate investors seeking stability and cash flow during a period of global economic headwinds.”

 

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

John Mikels

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.

 

 

Ryan Clutter

About TriGate Capital

TriGate Capital is a leading real estate investment manager focused on the recapitalization and repositioning of quality commercial real estate assets and companies.

 

CONTACT:

Cierra Lacasse

PR, Hotels & Hospitality, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

www.trigatecapital.com

 

 

JLL Capital Markets leads $46 million sales efforts for The Mall at Robinson in Pittsburgh, which is in the top four percent of shopping centers by visitors in Pennsylvania

 

 

Claudia Steeb

 NEW YORK, NY – JLL Capital Markets has completed the $46 million sale of The Mall at Robinson, a two-level, super-regional mall totaling 874,553 square feet in Pittsburgh, Pennsylvania.

 David Monahan 

The Mall at Robinson sees more than 4.81 million visitors per year, ranking among the top 4% of shopping centers in the state as well as the top 4% of all retail centers across the U.S.

 

JLL represented the seller, QIC US Management, Incorporated, and procured the buyer, Kohan Retail Investment Group.

 

Completed in 2001. The Mall at Robinson is anchored by Dick’s Sporting Goods, Macy’s, JCPenney and a former Sears, which is currently vacant.

The remainder of the mall is 92.1% leased to small shop retailers totaling approximately 320,000 square feet.

Cameron Pittman
 

In addition to the mall, the property includes a potential future anchor pad site that can accommodate up to 150,000 square feet.

 

The Mall at Robinson is positioned on 155 acres at the intersection of Route 60 and Robinson Town Centre Dr. less than a mile from the Interstate 376 / Steubenville Pike / Lincoln Highway interchange.

 

The property is the only regional mall in Pittsburgh with direct highway interchange access and benefits from its proximity to Downtown Pittsburgh, Pittsburgh International Airport and several corporate and regional headquarters that are nearby.

Emerson Pierce

The trade area surrounding the property is home to more than one million residents within a 15-mile radius boasting an average household income of approximately $107,000, nearly 8% greater than the state average.

 

JLL’s Capital Markets team representing the seller was led by Senior Managing Directors David Monahan and Claudia Steeb, Senior Director Cameron Pittman and Associate Emerson Pierce.

 

“Despite a challenging capital markets environment, retail is continuing to perform well, and investors are responding to opportunities like The Mall at Robinson,” said Monahan.

 

 “This super-regional mall is positioned in a growing area, and the buyer was able to recognize the long-term strength of the asset.”

The Mall at Robinson, a two-level,
super-regional mall totaling
874,553 square feet
 in Pittsburgh, PA.

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

 

 About Kohan Retail Investment Group

 

Kohan Retail Investment Group is a retail and hotel investment management company based in Great Neck, New York.

 

CONTACT:

 

Kristen Murphy,

JLL Director,

 Public Relations

Phone: +1 617 543 4873

Email:  Kristen.Murphy@jll.com

 

kohanretail.com.

JLL adds senior vice president Kristy David to Clean Energy and Infrastructure practice

 

Kristy David 

 WASHINGTON, DC, Dec. 1, 2022 – JLL has hired Kristy David as a Senior Vice President for its Clean Energy and Infrastructure Advisory team.

 

 In this capacity, she will play a key role in advising public and private clients on achieving their clean energy sustainability goals with an emphasis on solar, wind, EV charging and energy storage. 

 

David brings with her a wealth of experience, including more than 15 years in project finance, commercial due diligence, and public-private partnerships. Prior to joining JLL, she was a vice president with Greengate LLC, where she advised on complex multi-source financings and performed financial, market, credit and probabilistic analysis, among other duties.

 

Josephine Tucker

“Kristy will strengthen the depth of JLL’s financial advisory capabilities in the renewable and clean energy, infrastructure, advanced fossil and industrial sectors, where she has worked to close multi-billion-dollar projects domestically and internationally,” said Managing Director Josephine Tucker, Head of Clean Energy and Infrastructure Advisory, JLL.

 

 “We are thrilled to welcome her onto the Clean Energy and Infrastructure Advisory team.”

 

 Kevin Wayer

David, who is based in JLL’s Washington, D.C. office, earned her BA in economics from New York University and her master’s degree in international finance and international energy policy from Johns Hopkins University’s School of Advanced International Studies (SAIS).

 

 “Kristy has advised on some of the largest and most complex project financings, demonstrating a knowledge of the challenges lenders and borrowers often face,” said Kevin Wayer, president, Government and Education JLL.

 

“We look forward to her contributions in continuing to make JLL a recognized leader in clean energy and infrastructure advisory.”

 

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

 

us.jll.com/government

 

JLL Capital Markets leads sales efforts for Two Founders & Three Corporate Centre in Myrtle Beach, SC

Sarah Holloway

CHARLOTTE, NC – JLL Capital has completed the sale of Two Founders & Three Corporate Centre, two boutique office properties totaling 80,504 square feet in Myrtle Beach, South Carolina.

 JLL represented the seller. The price was not disclosed.

 

Two Founders is located on 3.66 acres at 611 Burroughs and Chapin Blvd. Three Corporate Centre occupies a 3.01-acre site at 2024 Corporate Centre Dr.

 Daniel Flynn

Both properties offer tenants easy access to Downtown Myrtle Beach and the area’s two major thoroughfares, Highways 17 and 501.

 

 Myrtle Beach, which has been ranked as one of the fastest growing cities in the Southeast, has a growing business district that is currently home to more than 25 international companies.

Ryan Clutter

Two Founders and Three Corporate Centre were completed in 2003 and 2002, respectively. The diverse rent roll is represented by companies in the technology, engineering, healthcare, tourism and financial services industries, among others.

 

The JLL Capital Markets team representing the seller was led by Director Daniel Flynn, Senior Managing Director Ryan Clutter and Analyst Sarah Holloway.

 

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