Owner-user acquires flex/R&D building in Irvine, CA for $3 million

 

SOLD:  two-story, 6,171-SF flex/R&D building
at 16150 Scientific Way in Irvine, CA
 for $3.21 million 

IRVINE, CA, Dec. 27, 2023 – JLL announced today that E&N Highpoint LLC has acquired a two-story, 6,171-square-foot flex/R&D building located at 16150 Scientific Way in Irvine, California for $3.21 million. 

 

The buyer is an international apparel company and will be using the building for its US corporate headquarters, research & development, and design.

 

Xavier Nolasco

JLL vice president Xavier Nolasco represented the seller, Ateck Holding LLC. The buyer was represented by Voit Commercial.

 

“We continue to see owner-user interest in flex buildings in Orange County,” said Nolasco.  “16150 Scientific Way provided the buyer with the opportunity to own and occupy their real estate for their business.”

 

Built in 2007, 16150 Scientific Way is ideally located in the heart of the Irvine Spectrum submarket with excellent access to the 5, 405, and 133 freeways.

 

The building features an extensive use of glass, high exposed ceilings and open floor plans.  It also offers building top signage and abundant parking.

 

 

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 Capital Markets brokers $56 million construction financing for a 187-unit Phase II development in the Northern Liberties neighborhood of Philadelphia, PA

               Ryan Ade

MORRISTOWN, NJ – JLL Capital Markets has arranged $55.7 million in construction financing for a 187-unit, luxury multi-housing development located in the Northern Liberties neighborhood of Philadelphia, Pennsylvania. 

 

The project is the second phase of a two-phased development totaling 466-units. The first phase, announced in March, is currently under construction.

 

JLL worked on behalf of the borrower, Saxum Real Estate, to secure the three-year, floating-rate loan through a U.S. based life insurance company.

 

The JLL Capital Markets Debt Advisory team was led by Michael Klein, Ryan Ade, Thomas E. Didio, Jr. and Ryan Carroll.

 

“Phase II’s vertical capitalization enables Saxum to commence construction on this exciting project’s second phase as construction on Phase I progresses expeditiously. With considerable progress made on Phase I, the existing lender extended their non-recourse commitment to Saxum on Phase II,” stated Didio, Jr.

 Michael Klein

Phase I is expected to be delivered for occupancy in September 2024, and Phase II is anticipated for August 2025.

 

The seven-story Phase II development will consist of studio, one-, two- and three-bedroom units and 7,803 square feet of ground floor retail.

 

 The spacious units will feature private balconies, large windows, stainless steel appliances, quartz countertops and luxury vinyl tile flooring.

 

The property’s 45,000-square-foot indoor/outdoor amenity package will include an outdoor pool, an expansive courtyard deck overlooking the Delaware River, cafés, co-working spaces, a state-of-the-art fitness/wellness center and a dog wash station.

Thomas E. Didio, Jr. 

The second phase is located at 700 North Delaware Ave. in the Northern Liberties neighborhood. Both phases together span two full city blocks with the first phase located at 711-735 N. Front Street.

 

 

CONTACT:

Alli Stent (Semans)

PR, Hotels & Hospitality,

 Capital Markets

JLL
M +1 330 329 6750

Owner/user acquires two industrial buildings in Santa Ana, CA for $4.95 million

Xavier Nolasco

  

SANTA ANA, CA, Dec. 26, 2023 – JLL announced today that JA Roberto Investments has acquired two industrial buildings totaling 27,443 square feet on 1.06 acres at 800-808 East Washington Avenue in Santa Ana, California for $4.95 million. 

 

JLL’s Xavier Nolasco represented the seller, Q Creative, LLC. The buyer was represented by Marcus & Millichap.

 

“This sale represents the demand we see from owner/users in the market for industrial buildings with fenced yards throughout Orange County,” said Nolasco, JLL Vice President.  “800-808 East Washington Avenue provided the buyer with the opportunity to occupy the property as a contractor’s yard”

800-808 East Washington Avenue, Santa Ana, CA

 

800-808 East Washington Avenue has immediate access to the 5, 55, and 22 freeways. The building features 15-foot clear height and six grade level doors.

 

 It is zoned M-2 Heavy Industrial / SD-84 which allows a multitude of uses including manufacturing, distribution, wholesale, contractor’s yard, automotive repair, truck, boat, and heavy equipment sales, rental, and service.

 

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.

 

JLL Capital Markets closes $30 million sale of the 81,077-square-foot, Publix-anchored Matt Town Center in Cumming, GA

Jim Hamilton

  ATLANTA, GA – JLL Capital Markets has closed the $30 million sale of Matt Town Center, an 81,077-square-foot retail center located in Atlanta’s fast-growing submarket of Cumming, Georgia.

JLL represented the seller in this transaction, Retail Planning Corporation and Publix acquired the asset.

 

 The JLL Retail Capital Markets team that represented the seller was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Vice President Andrew Kahn.

 

Matt Town Center is 95% occupied and anchored by a high-performing Publix. The offering also included ~3.87 acres of undeveloped land adjacent to the center that is currently zoned CBD - Commercial Business Zoning District, which allows commercial retail and office by right.

 Matt Town Center, an 81,077-square-foot
 retail center located in Atlanta’s
 fast-growing submarket
of Cumming, GA

 

Built in 2020, Matt Town Center is located at 5310 Matt Hwy., less than one hour from downtown Atlanta. The center is close to demand drivers, including the mixed-use communities of Avalon, Halcyon and the future Coal Mountain Crossroads, as well as downtown Alpharetta, downtown Roswell, and Lake Lanier.

Brad Buchanan 

 Additionally, Matt Town Center benefits from a population of almost 200,000 and an average household income of nearly $150,000 within a 10-mile radius.

 

 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.

 

Andrew Kahn

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 Associate,

 Public Relations

Phone: +1 214 394 3356

 

Email:  Jenna.Sharp@jll.com

 jll.com.

 

 

 

Stonemont Financial Group Breaks Ground On 250,000-Square-Foot Industrial Complex in Ocoee, FL

Avery Dorr

 ORLANDO, FL – Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, has broken ground on a seven-building, 259,255-square-foot industrial development in Ocoee, Florida just inside the State Road 429 corridor.

Called 429 Business Center, the complex is expected to be completed by Q4 2024. Stonemont is partnering with SCOA Real Estate Partners in the project.

 

“There is a strong demand for facilities that can accommodate users within a smaller size range, and this project is a testament to Stonemont’s ability to recognize this need and get the job done despite ongoing market headwinds,” said Avery Dorr, vice president at Stonemont.

 “This site is one of the last infill locations available within the immediate area, and Stonemont continues to serve as a solution to ongoing corporate needs for all types of users.

 

429 Business Center will be located on two sites fronting Ocoee Apopka Road, close to the Palm Drive intersection. The west campus will include four buildings ranging from 36,429 square feet to 71,228 square feet, with the east campus encompassing three buildings ranging from 14,282 square feet to 32,418 square feet.

 

The development will offer direct access to State Road 429 and sits just 15-20 miles from Walt Disney World®, providing premium access for users who supply goods to the entertainment destination.

429 Business Centerm a seven-building,
259,255-square-foot industrial development
 in Ocoee, FL, just inside the State Road 429 corridor

JLL Orlando is handling leasing for 429 Business Center on behalf of Stonemont. HGR Construction, Inc. is serving as general contractor on the project.

For more information on Stonemont and its initiatives, click here. 

CONTACT:

 

The Wilbert Group

Raechel Blitchington,

Vice President

www.thewilbertgroup.com

912.432.0858

 

The Easton Group Acquires 45,022 Square-Foot Medley, FL Distribution Center from Frito Lay

Dalton Easton,

 Doral, FL and Medley, FL—The Easton Group has acquired a 45,022-square-foot warehouse distribution facility at 12850 NW 113^th Court in Medley for $16.82 million.  

 

The seller is the chips and snack maker Frito Lay.  Frito Lay will remain as a tenant for the time being but is planning to relocate to a larger facility in the near future.   The transaction closed Dec. 20, 2023.

 

Dalton Easton, an associate with Easton & Associates, the real estate firm’s brokerage division, arranged the sale on behalf of The Easton Group.  Jeff Hartsook of Cresa represented the seller. Grove Bank and Trust helped finance the acquisition with a $9 million loan. 

 

The Medley facility sits on a 6.5-acre site about a half mile from the Florida Turnpike.  Built in 1999, it has 44 dock doors and a ramp providing quick loading and turnaround times for delivery truck drivers.  

 

“We are bullish on the Medley sub-market and are excited to continue to add high-quality assets to our portfolio,” said Easton.

 

“We are especially excited about this acquisition as we were faced with a year-end closing with a tight timeframe and were able to deliver amidst a challenging interest rate environment.

 Jeff Hartsook 

 "We think there is tremendous long-term upside at this basis with the temporary stabilization or regression in land values due to high borrowing and construction costs.”

 

Easton added that because this is a low-coverage property with excess land, there is a unique opportunity for future tenants to occupy a Class A industrial facility with additional improved land for parking or outdoor storage.

 

The Easton Group has approximately 900,000 square feet of new industrial development set to open in Miami-Dade, Broward and Palm Beach Counties in 2024.

 

 Contact:

 

Todd Templin

Executive Vice President

BoardroomPR

O 954-370-8999

C 954-290-0810

www.theeastongroup.com