JLL Capital Markets closes the sale of five industrial buildings totaling 689,497 square feet in East Dallas, TX

 

Pauli Kerr

 

DALLAS, TX – JLL Capital Markets has closed the sale of a five-property Class B shallow bay portfolio totaling 689,497 square feet in East Dallas, Texas.

 

Stephen Bailey

JLL represented the seller, CanTex Capital, in the sale. The price was not disclosed.

 

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Stephen Bailey and Dustin Volz, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.

“We are proud to have completed this sale and outperformed investment expectations for our partners," said Romit Cheema, CEO of CanTex Capital.

 

 "We look forward to continuing to aggressively acquire, redevelop and reposition industrial assets throughout the Dallas/Fort Worth market.”

Dustin Volz

The portfolio offers a mix of single- and multi-tenant warehouses ranging in suite sizes from 19,000 square feet to 184,000 square feet.

 

Currently, the portfolio is 100% occupied by six tenants across a wide range of industries, including ADCO Industries, Hill & Smith, Inc. and ProLift Rigging Company.

 

The buildings offer varying loading types, 18’-30’ clear heights, up to 34 dock-high doors and ample parking.

 

The properties are located at:

 

·       11221 Pagemill Road, Dallas

·       11333 Pagemill Road, Dallas

·       2917 Oakland St., Garland

·       1515 Big Town Blvd., Mesquite

·       3914-3920 U.S. Hwy 80, Mesquite

Dom Espinosa 

The properties are positioned on a total of 47.40 acres at infill locations with significant barriers to entry and immediate connectivity to Dallas-Fort Worth’s primary commercial and residential hubs, transportation arteries and major infrastructure.

 Additionally, shallow bay product consistently outperforms bulk industrial in the Dallas-Fort Worth metroplex, with average occupancy in the mid-to-high 90s and 6.4% average annual rent growth.

Zach Riebe 

 

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

 

About CanTex Capital

 

CanTex Capital (CanTex) is a premier, Dallas-Fort Worth (DFW) based commercial real estate (CRE) investment firm specializing in the repositioning and redevelopment of infill industrial properties throughout Texas.

 

The team’s experience spans a wide range of geographical markets, asset classes, and market cycles, solidifying CanTex’s presence in the DFW CRE markets and ensuring its growth.

 

Romit Cheema

Since its inception in 2018, CanTex has acquired over 6 million square feet of shallow bay industrial product.

 

 

 Contact:

 

 Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email: Cierra.Lacasse@jll.com

 

 

JLL Capital Markets arranges $28.37 million financing for the 209-unit Lake Arbor Towers in downtown Mitchellville, MD

 

Jacqueline Meagher

BOSTON, Jan. 9, 2023 – JLL Capital Markets announced today that it has closed the $28.37 million permanent financing for Lake Arbor Towers, a lakeside apartment community located along the Capital Beltway in Mitchellville, Maryland.

 

JLL worked on behalf of the borrower, The Dolben Company, to secure the 10-year fixed rate loan through Eastern Bank.

 

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Jamie Leachman, Director Jacqueline Meagher, Associate Madeline Joyce and Analyst David Sloan.

 Madeline Joyce

“Despite challenging market conditions in the fourth quarter, the Lake Arbor marketing process garnered over a dozen quotes from lenders,” said Meagher.  “This is a testament to the Dolben team and their operations, as well as Eastern Bank providing a creative and successful outcome.”

 

 Built in 1989 and renovated in 2010, Lake Arbor Towers overlooks Northampton Lake, offering residents lake views from their private decks and access to jogging and bike trails. 

The community features 209 modern floor plans across 110 one-bedroom and 99 two-bedroom units, ranging from 675 square feet to 1,100 square feet. The apartments offer in-unit washers and dryers, renovated kitchens and baths, energy efficient designs and spacious closets. Community amenities include a swimming pool, sundeck, social room and fitness center.

Jamie Leachman

Located at 11411 Lake Arbor Way, Lake Arbor Towers is less than three miles from the Largo Town Center Metro (Blue and Silver Line), which offers residents a quick metro ride to downtown Washington, D.C. 

In addition, residents have direct access to I-495 and E Capital St via Central Ave., providing seamless connectivity around the beltway. 

David Sloan

The property is within proximity to two of the region’s largest demand drivers, the brand new, $651 million University of Maryland Capital Region Medical Center, which delivered in June 2021, and the Kaiser Permanente Largo Medical Center. 

The asset is also a 30-minute drive to Fort Meade, the largest employer in Maryland and home to the National Security Agency and the Department of Defense.

 

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

 

 CONTACT: 

 

 Jenna Sharp

 Associate

Public Relations

Phone: +1 214 394-3356

Email:  Jenna.Sharp@am.jll.com

jll.com.

 

Hei Hotels & Resorts promotes Jeremy See to Chief Commercial Officer

 

Jeremy See

NORWALK, CT, Jan. 9, 2023 -- HEI Hotels & Resorts, a leading hospitality investment and management company, today announced the promotion of Jeremy See to the role of chief commercial officer.

 “Jeremy is a remarkable strategist who has led HEI’s revenue management organization to the pinnacle of the industry,” stated Anthony Rutledge, CEO & managing partner, HEI Hotels & Resorts. 

 

 “Under his leadership, HEI has become one of the most innovative and consistently successful top-line companies in the hotel management space, with an extraordinary track record of increasing market share year after year – a feat that few, if any, can match.”

 

A long-time associate with the company, See joined HEI’s Manager-in-Training development program in 2009. 

Anthony Rutledge

He served several on-property revenue roles in hotels in Boston and Detroit before being swiftly promoted through HEI’s revenue management organization. 

 

His roles over the past twelve years have included regional vice president of revenue and later senior vice president of revenue management, a title he has held since 2020. 

 

In his role as chief commercial officer, See will be responsible for overseeing HEI’s sales and revenue management disciplines, driving top-line business and maximizing the revenue potential of all HEI-managed hotels.

 

“Jeremy as much as anyone likes to win. Through his never stop approach to finding more top line success, Jeremy has created incredible value in owner's and partner's real estate over the past decade,” Rutledge added.

 

A native of Singapore, See currently resides in San Francisco with his wife and two children.

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 CONTACT: 

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.heihotels.com.

 

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