JLL Capital Markets arranges sale of the 87,858-square-foot Warsaw Commons in Warsaw, IN

Warsaw Commons, a 87,858-square-foot,
 open-air retail center in Warsaw, IN

CHICAGO, IL– JLL Capital Markets has closed the sale of Warsaw Commons, a 87,858-square-foot, dominant, open-air retail center in Warsaw, Indiana. The price was not disclosed.

 

JLL represented the seller, IRC Retail Centers, and The Lofts at 5 Points LLC acquired the asset.

Michael Nieder

Built in 2012, the 100-percent-occupied Warsaw Commons is anchored by TJ Maxx, PetSmart, Ulta, Dollar Tree and Shoe Carnival. 98% of the center’s revenue comes from its high credit national tenant base, and all five anchor tenants have recently renewed/exercised options within their leases.

 

  The center boasts 1.7 million visitors annually. Additionally, the property is shadow anchored by Kohl’s.

 

Located at 570 W 300 N. Warsaw, the center is situated between several Midwest cities, including Indianapolis, Fort Wayne South Bend and Chicago.

 

Nate Monson

The center benefits from sitting in the only retail shopping corridor for more than 25 miles. Within 20 miles of the center is an average household income of $86,942 and a population of 159,553.

 

The JLL team that represented the seller was led by Director Michael Nieder.

 

Nate Monson and Brandon Goodman with Colliers in Salt Lake City represented the buyer in the transaction. 

 

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

Brandon Goodman 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales 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.

 

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

 

 

 

CONTACT

 

Jenna Sharp

JLL Public Relations

Dallas, TX

M +1 214 394 3356

JLL.com

 

JLL Capital Markets recently closed the sale of two former Sears stores located in San Antonio, TX and Lafayette, LA

  

 Ryan West

HOUSTON, April 27, 2023 – JLL Capital Markets announced today that it has recently closed the sale of  two located in San Antonio, Texas and Lafayette, Louisiana.

 

The total size of both properties is 365,857 square feet.The price was not disclosed.

 

JLL marketed the two properties on behalf of the seller, and both properties were acquired by a unique investor whose name was not disclosed. 

 

The properties include:

 

·         6301 Northwest Loop 410, 

a 169,865-square-foot box space 

located at TX Ingram Mall 

in San Antonio, TX (below).

 

·         5717 Johnston St, 

a 195,992-square-foot box space 

located at Acadiana Mall 

in Lafayette, LA (below)

 The JLL Retail Capital Markets team handling these transactions was led by Senior Managing Director Ryan West, Managing Director John Indelli and Managing Director Davis Adams.

John Indelli

“The two transactions demonstrate strong retailer and investor demand for available retail box space in high-quality locations. Fundamentals are very healthy throughout Texas and Louisiana with occupancy rates running north of 95% in these markets,” Indelli said.

 

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.

Davis Adams

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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

 

CONTACT

 

Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

Kairos Investment Management Co. Secures $175 Million Credit Facility from Fannie Mae to Grow Affordable Housing Portfolio

 

 Carl Chang

LOS ANGELES, CA – Kairos Investment Management Company (KIMC), a firm that focuses on value-based real estate investments, has secured a $175 million credit facility backed by Fannie Mae. 

Berkadia, a leading commercial mortgage lender, originated and will service the credit facility for each transaction.

“In a high inflationary and rising interest rate environment with recession looming, we are well positioned and anticipate seeing many opportunistic multifamily, affordable housing acquisition opportunities,” explains Carl Chang, CEO and Founder of Kairos.

“In fact, we are taking this opportunity to grow this component of our portfolio as we see valuations pull back from all-time highs and the credit facility from Fannie Mae provides Kairos additional leverage and excellent flexibility with a lower cost of capital to do so.

”Our new facility will enable us to act on available opportunities strategically and close on affordable housing deals more quickly and efficiently.”

There are numerous benefits to the Berkadia serviced credit facility, including providing Kairos with better financing rates than utilizing one-off lending transactions.

Jonathan Needell

Jonathan Needell, CIO of Kairos, explains: “This new credit facility gives Kairos the added capital flexibility and heft to take advantage of the excellent opportunities in the market.

"Kairos seeks value-oriented opportunities we can acquire that align with our Impact Strategy and where we invest in affordable housing and LIHTC as well as self-regulated market rate, senior, and manufactured housing segments.”

The growing affordable housing market in an increasingly competitive and complex environment which requires flexible financing options and Berkadia is committed to providing innovative tailored capital solutions to our clients, notes Tim Leonhard, Senior Managing Director, Affordable Housing at Berkadia.

Tim Leonhard

“We are honored to have worked with Kairos on the initial closing of this Fannie Mae supported credit facility,” says Leonhard.

 

“Having the facility in place gives Kairos very low cost of capital, flexible terms, and significant credibility with potential sellers who will know that financing is readily available, allowing them ability to move quickly and secure new acquisition opportunities.”

 

 

Contacts:

 

Arleeny Escarcega / Elisabeth Manville

The Smart Agency, Inc.

(949) 438-6262
aescarcega@thesmartagency.com

www.kimc.com.

 

 

JLL achieves record price of $14 million in sale of 40,792 SF industrial building to Sunland Nutrition in Aliso Viejo, CA

 Xavier Nolasco

 ALISO VIEJO, CA –– Confirming continued owner-user demand for Orange County industrial space, JLL announced Sunland Nutrition. a premier distributor of nutritional ingredients, has acquired a 40,792-square-foot industrial building located at 81-91 Columbia for $14.07 million.  Sunland will use the building for its headquarters and warehouse.

 JLL’s Xavier Nolasco, Brian Thene, Steve Wagner and Cameron Driscoll represented the seller.  Sunland Nutrition was represented by Steve Crane of Daum Commercial. 

 

“Orange County continues to be a sought-after location for users of small to mid-sized industrial spaces,” said Nolasco, JLL Vice President. 

Brian Thene

81-91 Columbia is located in an emerging advanced manufacturing and medical-technology hub of Southern California.  It features 28-foot warehouse clear height, two ground level loading doors, two dock high loading doors, large fenced yard, building top signage and 4.25/1,000 parking ratio.

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

Steve Wagner

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

 

JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022.

Cameron Driscoll

 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

 

 

Contact:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

jll.com.

Downtown Orlando Demolition with High-Level Recycling Makes Way for Lincoln Property Company’s Newest Church Street Project

 Shayna Hansen

ORLANDO, FL -  Demolition was recently completed to make way for the next phase of  Lincoln Property Company’s Church Street Project in downtown Orlando, FL.

The 32-story office and residential tower is a redevelopment of the former Ballroom at Church Street built in 1994 and which has stood vacant for many years.

 The demolition does not involve massive debris destined for a landfill.  It’s a project that takes recycling to a higher level with most of the elements removed being donated for reuse, according to LPC’s Florida Regional Director Shayna Hansen.

 

”Interior décor has been donated to galleries, churches, children’s theaters and the City,” she explained,  adding, “Exterior iron gates, driveway bricks and steel trusses go to the City Arts District for use as they build downtown pocket parks for public enjoyment.” 

 Hansen said some of the interior will be used for  another of LPC’s Church Street Projects – The Bumby Arcade Food Hall opening next year.  

 

The redevelopment will bring one of downtown Orlando’s tallest buildings situated on ”The Edge” of the business and entertainment districts just north of Truist Plaza, the first phase of LPC’s venture.  

The new building dubbed The Edge will include 234

 residences, 200,000 square feet of office space and a 10-story parking garage.  

  

Contact:

 

Shayna Hansen, Director of LPC’s Florida Region,

317-400-5636, 407-872-3516

 shansen@lpc.com

 

Beth Payan, Larry Vershel Communications,

 407-461-3781 or

 beth@larryvershel.com.

Photos courtesy of Lincoln Property Company. 

Native Realty Brokers Lease for Exciting Nightlife Concept in Wilton Manors, FL

 

Kaley Tuning 

FORT LAUDERDALE, FL –– Native Realty, the placemaking real estate firm led by Jaime Sturgis, has brokered a lease that helps position Wilton Drive in Wilton Manors as an emerging world-class nightlife and entertainment district.

Christine Johnson

Firm COO Kaley Tuning represented Michael Sporn and Chris O’Neill in a long-term lease that enables them to open The West End inside the former Matty’s space in the city.

Charlie Shed

Sporn and O’Neill signed a 10-year lease with renewal options for the 2,238-square-foot space at 2100 Wilton Drive #117.

 They have assembled a dream team to bring The West End to life with Ritz-Carlton hospitality veteran Charlie Shed and renowned chef Christine Johnson on board.

 

Aaron Taber of Retro Interiors is leading the interior design of the venue, with Jose Batalla of BaxterMartin 

Advertising handling brand development. The project is expected to open this fall.

 

Geoffrey Stevens

 Geoffrey Stevens of Florida Retail Brokerage Corp. represented the landlord in the lease.

 

 Contact:

 

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

www.nativerealty.com.

29th Street Capital (29SC) buys Solaire Apartments, a 232-unit Class A property in Silver Spring, MD

Solaire Apartments, Silver Spring, MD

Silver Spring, MD – 29th Street Capital (29SC) acquired Solaire Apartments, a 232-unit Class A property in Silver Spring, Maryland. 29SC plans to rebrand the property to “Maven at Wheaton” and will make property upgrades by renovating apartment units, and modernizing interior and exterior amenity areas. The price was not disclosed.

 The six-floor building features a 24-hour fitness center, swimming pool and sundeck, community room, and a courtyard patio with grilling station.

 “Built in 2014, Solaire Apartments is a high-quality transit-oriented property within a short walk of both Wheaton Metrorail Station and Westfield Wheaton Mall,” said Brian Berry, Senior Vice President Mid-Atlantic for 29SC.

 

 Brian Berry

“We look forward to executing on our business plan and continuing to expand in the Washington DC region.”

 Brian Crivella, Walter Coker, Bill Gribbin, and Yalda Ghamarian from Berkadia represented the seller.

Haven Residential, the 29SC-owned property management company, will oversee management and leasing.

 Formed in 2009, 29th Street Capital is a privately held real estate investment firm with 16 offices nationwide.

 Yalda Ghamarian 

 Its current portfolio consists of more than 20,000 existing units and a development pipeline of over 3,800 units.

  In the last year, 29SC has acquired 16 multifamily assets across the United States that contain over 4,500 units. The firm continues to actively pursue new opportunities.

  

 CONTACT:

 Julia Eich

Director of Marketing and Communications

+1.847.977.0876 

| julia.eich@havenresidential.com

 29SC.com