JLL closes sale and financing of a seven-property industrial portfolio in the Twin Cities

 

Erin Fitzgerald

MINNEAPOLIS, MN – JLL Capital Markets has closed the sale of and arranged acquisition financing for a seven-property industrial portfolio totaling 376,218 square feet in Roseville, Oakdale and Woodbury, Minnesota. Financials of the deal were not disclosed.

 

JLL marketed the portfolio on behalf of the seller, Link Logistics, procured the buyer, Minneapolis-based Biynah Industrial Partners, and arranged the acquisition financing.

 

Colin Ryan

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Colin Ryan and David Berglund and Senior Director Erin Fitzgerald.

 

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Directors Matthew Schoenfeldt and Scott Loving and Director Lucas Borges.

 

The portfolio is 96% occupied by 18 tenants covering a wide range of industries, including medical technology, manufacturing, building materials, apparel accessories and more.

David Berglund 

This is on par with the market’s total vacancy, which JLL’s Industrial Insights Minneapolis-St. Paul Q3 2022 notes as 4.5%, resulting from the strong tenant demand in the area with 11 million square feet of tenants actively in the market.

 

The buildings offer 17’-20’ clear heights, an average of seven dock doors each, ample car parking and market office finish. The properties include:

 

·       6744 33^rd St. North, Oakdale, MN

·       6866 33^rd St. North, Oakdale, MN

·       Carver Lake, 2280-2310 Ventura Dr., Woodbury, MN

·       Gateway Business Center, 2100-2140 West County Rd. C, Roseville, MN

·       Granada I Business Center, 3350 Granada Ave. N, Oakdale, MN

·       Granada II Business Center, 3400 Granada Ave. N, Oakdale, MN

·       Granada III Business Center 3220 Granada Ave. N, Oakdale, MN

 

Matthew Schoenfeldt

The assets are well located within infill submarkets inside the Interstate 494/694 loop and are within a 20-minute drive of downtown Minneapolis and St. Paul.

 

Tenants of the properties are positioned to reach millions of people in major cities within a few hours’ drive, including Madison (3.5 hours), Milwaukee (4.5 hours) and Chicago (6 hours).

 

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

 

Scott Loving

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.

 

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.

 

About Biynah Industrial Partners

 

Biynah Industrial Partners (BIP) is a Minneapolis based private equity firm that makes direct investments in industrial real estate located throughout the United States.

Lucas Borges

BIP’s primary focus is directly investing in U.S. industrial real estate. The properties BIP acquires are well-located, highly functional, and purchased at a discount to replacement cost. 

 

About JLL

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

 JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit .

 

 

 

 CONTACT

 

Cierra Lacasse

 JLL Associate

Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

 

jll.com

Lee & Associates Hires Evan Scroggs to head new office in Baton Rouge, LA

Evan Scroggs

BATON ROUGE, LA – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announces the opening of a new office in Baton Rouge, LA.

The Lee & Associates Baton Rouge team will be led by Evan Scroggs, CCIM.

Scroggs, formerly a senior advisor with NAI Latter & Blum, brings 13 years of experience in office and industrial sales and leasing and is an active member of the Baton Rouge commercial real estate community.

Currently, he serves on the planning and zoning commission for East Baton Rouge parish and has held leadership roles in the Louisiana CCIM Chapter as president and as a member of the board of directors.

He has served as the president of the GBRAR CID and served on the board for LACDB.

 

Jeffrey Rinkov

“We are excited about the enhanced capability and increased presence our new office in Baton Rouge brings to Lee & Associates,"  said Jeffrey Rinkov, CEO of Lee & Associates.

 

"Evan and his team bring phenomenal market leadership, a strong entrepreneurial spirit, and leading market penetration.

 

 “The first-class support provided by our Houston office will allow us to aggressively recruit seasoned agents in the market who are attracted to our principal/ownership-led structure.”

The Lee & Associates Baton Rouge office will be located at 5555 Hilton Avenue, Suite 330 in Baton Rouge, LA 70808.

 

 

 

 CONTACTS

 

 Pamela Murphy Indihar
Lee & Associates
(832) 315-0219
pmurphy@lee-associates.co

         

 

Evan Scroggs,

escroggs@lee-associates.com.

 

 

 

  

JLL Capital Markets closes sale of the 120-unit / 432-bed CEV Ruston student housing community at Louisiana Tech University in Ruston, LA

 

Teddy Leatherman

CHICAGO, IL – JLL Capital Markets announced that it has closed the sale of CEV Ruston, a 120-unit / 432-bed student-housing community primarily serving the 11,000 students at Louisiana Tech University in Ruston, Louisiana. The price was not disclosed.

 

Scott Clifton

JLL represented the seller, Timberline Real Estate Ventures, and Briar Meads Capital acquired the asset.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Directors Scott Clifton, Stewart Hayes and Teddy Leatherman, Associate Kevin Kazlow and Analyst Jack Goldberger.

 

Constructed in 2008, CEV Ruston features fully furnished two- and four-bedroom units with in-unit washers and dryers, high-speed internet, private bedrooms and desks and an average size of 1,349 square feet.

Stewart Hayes

The units present an opportunity for value-add upgrades. The property also offers an all-inclusive amenity package that includes a fitness center, group and private study rooms, a fully equipped computer center and a beautiful outdoor swimming pool and deck.

 

Situated at 1812 W. Alabama Ave., CEV Ruston is immediately adjacent to campus and the Joe Ailet Stadium and within a 10-minute walk to most academic buildings.

 

The community also attracts students from the nearby Grambling State University, which has gained national recognition as graduating the highest number of diverse students in STEM programs.

Kevin Kazlow

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 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.

Jack Goldberger

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

 

 CONTACT

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

Beta Agency completes $14 million sale of supermarket-anchored center in Lawndale, CA

 

Vanessa Zhang

Los Angeles, CA – Beta Agency, a leading commercial real estate brokerage and advisory firm, has completed the sale of a supermarket anchored shopping center located at in Lawndale, California to an undisclosed buyer for over $14 million.

 

The property consists of a Smart and Final store and a multi-tenant shop building. The center and was 100% occupied at the time of the sale. Shop space tenants in the center included Subway, Wingstop, Panda Express, Daily Nails & Spa, Wells Fargo.

Richard Rizika

Beta Agency’s Richard Rizika and Vanessa Zhang represented the seller, a private shopping center owner based out of San Pedro, California.

 

The Buyer, a private 1031 exchange entity based out of Los Angeles, was represented by Adam Friedlander of Beta Agency and Moon Lim of JLL.

 

“The Buyer acquired Lawndale Plaza because of its strong operating history, stabilized income stream and excellent real estate fundamentals,” said Rizika.

 “Several of the shop space tenants recently exercised their option. This property satisfied the Buyer’s second half of their 1031 exchange and is a nice addition to their shopping center portfolio.”

 

Adam Friedlander

Rizika said “grocery anchored shopping centers in primary markets continue to be highly sought-after real estate investments and will continues to attract aggressive capital.”

 

About Beta Agency

Beta Agency is a leading commercial real estate services firm located in El Segundo, California. Beta’s investment advisory service utilizes proprietary analytics and design services to market commercial real estate. Beta Agency represents over 10 million square feet of commercial property and over 70 brands throughout the Western US.

 

 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.”