Veteran Real Estate Lenders Brett Forman and Ben Jacobson Relaunch Forman Capital in South Florida

Brett D. Forman 

 

 PALM BEACH, FL– Accomplished commercial real estate lenders Brett Forman and Ben Jacobson have partnered to relaunch Forman Capital, a creative and entrepreneurial direct lender based in Palm Beach County, Florida.

The principals, Forman and Jacobson, have closed $2.6 billion in commercial real estate transactions since 2004 and have a robust pipeline of new deals with closings beginning in Q1 2023.

Forman Capital provides short and medium-term construction financing, mezzanine loans, preferred equity and joint venture equity across a variety of real estate asset classes and geographies.

From 2016 to the end of 2022, Forman was a 50/50 partner in a joint venture with a Canadian asset manager where his team originated and managed $2.2 billion in commercial real estate transactions.

“In addition to our reputation for closing challenging transactions, our borrowers and partners know we operate with integrity, transparency and reliability,” Forman said.

“These core values are sacrosanct. As we strategically expand our team, we will focus on growing with professionals who share the same principles.”

Ben Jacobson

A Florida native, Jacobson started his commercial real estate finance career at Cohen Financial, a Guggenheim Partners affiliate, where he worked on more than $2.3 billion in real estate transactions.

He linked up with Forman in 2016, starting as an associate and earning promotions to Vice President and Managing Director.

Over his six years with Forman, he originated $1.195 billion in transactions including $350 million worth of construction loans in 2021 and $213 million in the first four months of 2022.

 

CONTACT:

Todd Templin 

ttemplin@boardroompr.com

Investor picks up Class B office building in Houston’s Energy Corridor

 

 

12012 Wickchester, a 109,473-SF,
Class B office building in
 Houston’s Energy Corridor. 

HOUSTON, TX – JLL Capital has closed the sale of 12012 Wickchester, a 109,473-square-foot, Class B office building in Houston’s Energy Corridor. The price was not disclosed.

 

JLL marketed the property on behalf of the seller, CapRidge Partners, LLC, and procured the buyer, Woodside.

 

12012 Wickchester is located directly north of the Katy Freeway between Kirkwood Rd. and N. Eldridge Pkwy in West Houston.

 

The 3.7-acre site is positioned in the heart of the Energy Corridor, Houston’s third largest employment center boasting many 500 companies and multi-national energy companies as well as proximity to some of the city’s wealthiest executive neighborhoods in the Memorial Villages.

Martin (Marty) Hogan

In addition, the property is close to a significant amenity base highlighted by Town & Country Village, CITYCENTRE and Memorial City.

 

Renovated in 2021, 12012 Wickchester offers six stories of office space with an on-site deli and a 3.5/1,000 structured parking garage.

 

The building caters to smaller multi-suite floorplans and excels by providing tenants with a Class A Energy Corridor location. The property was 61% leased to a diversified stable of tenants at time of sale.

 

The JLL Capital Markets Investment and Sales Advisory team representing the seller was led by Managing Directors Marty Hogan and Kevin McConn.

 

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

Kevin McConn

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:

 

Kristen Murphy

Director, Public Relations, Americas

JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 

jll.com

woodsidecp.com.

 

Phase 3 Real Estate Partners, Inc. signs life science company to 7,064 SF lease at GENESIS – HQ in San Diego, CA

Genesis headquarters, 4475 Executive Drive
San Diego, CA

SAN DIEGO, CA – Confirming the attractiveness of San Diego as a premier life science market, Phase 3 Real Estate Partners, Inc. announced that is has signed Nautilus Biotechnology to a new 7,064-square-foot lease at GENESIS - HQ, a two-story, 29,874-square foot Class A life science building located at 4475 Executive Drive in San Diego, California. 

 This new lease represents an expansion for the life science company into San Diego and brings the building to 100% occupancy, fully leased prior to construction completion.

Nautilus Biotechnology will broaden its workforce for research and development functions including mechanical engineering, reagent development, software engineering, and bioinformatics. 

 The space was under construction on a speculative basis at the time of lease signing with completion planned to accommodate the firm’s desired occupancy.

            Nick Nelson

“San Diego’s vibrant biotech community is a significant contributor to advancements across the industry,” said Nick Nelson, SVP and Chief Business Officer at Nautilus. “We’re thrilled to scale our team in an ecosystem especially suited to accelerating proteomics — a critical but relatively unexplored sector of science that we believe is poised to revolutionize biomedicine and basic science research.”

JLL’s Chad Urie, Grant Schoneman and Taylor DeBerry represented the landlord, Phase 3 Real Estate Partners, Inc., in the lease.  Nautilus Biotechnology was represented by Darren Morgan, Michael Dash and Matt Walters of CBRE.

             Chad Urie

"Life science tenants in today’s market are looking for best in class real estate which can be occupied quickly,” said Grant Schoneman, JLL Executive Managing Director. “The spec suites at 4475 Executive Drive provided immediate occupancy of newly built-out lab and office space which will allow them to attract and retain talent as they grow their San Diego footprint.”

GENESIS - HQ is ideally located within San Diego’s biotech cluster and has direct connection to the vibrant life science community within the UTC submarket. 

Phase 3 purchased this central project to not only headquarter its’ local development team, but to continue to foster the relationships with the life science tenants within its portfolio. Robust infrastructure, premier finishes and thoughtful designs were curated by the Phase 3 team with their tenants top of mind to incubate, grow, and succeed in their endeavours.

Grant Schoneman

About Phase 3 Real Estate Partners

Phase 3 Real Estate Partners, Inc., ("Phase 3") develops premier ready to occupy research and development facilities in the major innovation clusters of the United States. 

Phase 3's focus on delivering the highest quality space with accelerated speed to occupancy within these key geographies allows companies to immediately pursue their scientific goals. 

The Phase 3 team delivers a clean, modern design aesthetic, the right combination of amenities to create community and appropriate infrastructure to meet the needs of the companies who call our facilities home.

Taylor DeBerry

The firm's expertise in development, construction and management of life science facilities results in a strong partnership between our tenants and our team. 

Phase 3's current portfolio consists of nearly 4.5 million square feet and is growing in San Diego, San Francisco and Boston. 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

Darren Morgan

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.  

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.”

www.P3RE.com

visit jll.com

Daum Commercial completes $23 million sale of 92,640 SF, multi-tenant industrial park in Gardena, CA

 

Chuck Brill

Gardena, CA – DAUM Commercial Real Estate Services, a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales, and property management, announces the sale of two freestanding industrial buildings in Gardena, California, a South Bay submarket of Los Angeles County, in an off-market transaction for $22.7 million.

 The buildings are located at 1355 – 1361 W. 190^th Street in Gardena, California, a South Bay submarket of Los Angeles County.

 Chuck Brill, Executive Vice President, Principal, and South Bay Branch Manager at DAUM Commercial, represented the buyer, Dunbar Real Estate Holdings, LLC, an El Segundo, California-based investor.

 The seller, T.A Properties, LTD—a real estate investment and property management firm, was represented in the transaction by The Altemus Company.

With an excellent mix of four credit, national tenants including AutoZone, 3 Day Suit Broker, Off Broadway West, and 4 Wheel Parts, on long-term, below market leases, the property offers a unique investment opportunity to secure a stabilized, net-leased industrial asset with a diversified income stream and guaranteed future upside, says Brill.

 “Having recently represented a lessee in a lease transaction regarding one of the vacant units at the subject property, we had established a valuable relationship with the lessee and were made aware of the possibility of the industrial park coming for sale,” explains Brill.

 “By strategically positioning our client’s offer, we were able to capture the seller’s attention before the property officially came available.

 "Leveraging our extensive understanding of the South Bay market and strong industry partnerships, we collaborated with all parties involved to ultimately beat out multiple all-cash offers despite the buyers ultimately obtaining financing.”

 According to a recent DAUM report, the supply-constrained South Bay submarket of Gardena maintains historically low vacancy rates, recording 1.6% direct vacancy in Q4 2022 with an average asking rent of $1.75 per square foot.

 With a slowdown in acquisitions activity in Q4 combined with the new “Mansion Tax” going into effect halfway through the escrow period—which levies a 5.5% transfer tax upon sales above $10 million in the City of Los Angeles—the DAUM team was able to lock in a lower purchase price, notes Brill.

“We were able to capitalize on our industry knowledge to agilely negotiate a favorable, below-market purchase price of $245 per square foot,” says Brill.

 “As there is little to no developable industrial land available in the area, we were able to identify this opportunity to secure a rare infill, supply-constrained location that offers tremendous future upside potential for our client.”

 Located immediately adjacent to Interstate 405, the property features approximately 400 feet of highly-sought-after freeway frontage with an additional 500 feet of main street frontage along 190^th Street.

 The property comprises two concrete tilt-up buildings totaling 92,640 square feet situated on 3.66 acres. The buildings are fully equipped with 18- and 19-foot clear height, fire sprinklers, dock-high loading doors, private security fenced yards, and ample grade-level parking.

Contacts: 

Hanna Kokuashvili / Elisabeth Manville  
The Smart Agency, Inc.
(949) 438-6262 
hkokuashvili@thesmartagency.com

 www.daumcommercial.com.