JLL strengthens Value and Risk Advisory platform with addition of industrial expert Patrick Shannon

  

 

Patrick Shannon

 

 CHICAGO, IL – JLL’s Value and Risk Advisory platform has appointed

Patrick Shannon as an Associate Director based in Michigan.

 

 With an extensive background in industrial property types, Shannon brings a wealth of experience and expertise to the team, further enhancing JLL's capabilities in the Midwest region. Shannon will work alongside Jim O’Leary, who leads the Midwest industrial team.

 

"We are delighted to welcome Patrick to our industrial team," said Katie Parsons, Executive Managing Director and National Head of the Industrial Property Sector at JLL Value & Advisory Services.

Katie Parsons

 "Patrick's longstanding experience in the industrial sector and his exceptional track record of providing client-focused solutions make him a valuable addition to our platform. His appointment reinforces our commitment to delivering best-in-class services to our clients across the region."

 

Shannon’s responsibilities will include conducting appraisals and consulting assignments for a wide range of industrial properties, including flex, manufacturing, warehousing, and vacant land uses. With his deep understanding of the market and comprehensive knowledge of industrial assets, Shannon will play a critical role in providing strategic advice and insights to clients across the region.

 

Jim O’Leary

Prior to joining JLL, Shannon spent 17 years with Grubb and Ellis, which was acquired by Newmark, where he served as a Senior Managing Director.

 

Shannon holds a bachelor’s degree in Economics from the University of Michigan and is a Practicing Affiliate of the Appraisal Institute.

 

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

  

U.S. property valuation and tax consulting services are performed by JLL Valuation & Advisory Services, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

  

CONTACT:

 

Kristen Murphy,

 JLL Director, Public Relations

Phone: +1 617 543 4873

Email: Kristen.Murphy@jll.com    

 

jll.com.

Keyes/Illustrated Luxury Report: South Florida Sees Return of Year-Over-Year Gains in Q3 2023

 

Christina Pappas 

 

MIAMI and PALM BEACH, FL– South Florida’s luxury residential market experienced year-over-year gains in many important categories during the third quarter of 2023, according to The Keyes Company and Illustrated Properties’ new Luxury Report.

 

Buyers and sellers of $1 million-and-up single-family homes and condominiums acknowledged that the pandemic-era frenzy is firmly in the past, and the region is back in a “normal” market.

Across Miami-Dade, Broward, Palm Beach counties, the Treasure Coast and Southwest Florida, luxury single-family sales jumped from 2,221 in the third quarter of 2022 to 2,397 in the third quarter of 2023 – a 7.9% increase.

 

 The region’s condo sector had a 0.3% uptick in $1 million-and-up transactions, from 892 to 895. The tri-county area of Miami-Dade, Broward and Palm Beach counties had single-family transaction increases during that timeframe, with Palm Beach County also enjoying a big year-over-year jump in high-end condo sales (21.3%).

 

“It is encouraging to see that the incremental gains of the past few quarters gave way to notable year-over-year increases,” Keyes President Christina Pappas said.

 “We expect that to continue as we close out 2023. The luxury sector is not hampered by the current interest rate environment or broader economic challenges.”

 

  

CONTACT:

 

Eric Kalis

Vice President,

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza

 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

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Corporate park in northern Virginia becomes the new home of Fairfax County Public Schools

Cheryl Russ

 

HERNDON, VA  – JLL has negotiated the lease and managed the construction of the buildout to transform nearly 40,000 square feet within two tech park buildings into usable space for classrooms, offices and testing rooms for Fairfax County Public Schools in Herndon, Virginia.

 

JLL represented the tenant, Fairfax County Public Schools (FCPS), the largest public school system in Virginia, in site selection and lease execution through its brokerage service.

 

JLL’s Project and Development Services (PDS) group managed the project from design through occupancy, which included assisting in site selection and overseeing the budgeting and development of RFPs for design and construction.

 

After negotiating the original lease for 33,186 square feet in December 2021, JLL negotiated the expansion space of 6,366 square feet in March 2022.

 

The two buildings are adjoined by a breezeway and include part of 455 Spring Park Place and the entirety of 465 Spring Park Place.

 John Gibb

 

The JLL Brokerage team representing Fairfax County Public Schools included John Gibb, Managing Director, Tenant Representation. JLL’s PDS team was led by Cheryl Russ, Vice President, Project and Development Services.

 

“What’s really exciting about this project is that it is an adaptive reuse of office space for a school,” Gibb said.

 

“As urban environments get built up, we are left with limited space for building new educational institutions. In this case, it was more efficient to locate an educational facility in one-story buildings that externally resemble a school as much as corporate offices and transforms the buildings into exactly what Fairfax County Public Schools needed.”

 CONTACT:

Kimberly Steele

PR, Occupier

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

JLL Capital Markets arranges $18.5 million acquisition financing for the 150-unit / 480-bed Bellamy Coastal student housing located in Conway, SC near Myrtle Beach

 

Patricia Heminger

CHICAGO, IL – JLL has arranged the $18.5 million acquisition financing for Bellamy Coastal, a 150-unit / 480-bed, Class A student housing property, serving Coastal Carolina University in Conway, South Carolina.

 

JLL worked on behalf of the borrower, Eastman Residential, to secure the five-year, fixed-rate acquisition financing through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo℠ lender.

Katia Novi

The JLL Capital Markets Debt Advisory team was led by Senior Director Dan Kearns, Senior Director Patricia Heminger, Senior Analyst Sam Tarter and Analyst Katia Novi.

 

Built in 2018, Bellamy Coastal features multi-story townhome apartments with large living areas and both front and rear access leading to private backyard areas. Community amenities include a resort-style pool, a sundeck, a beach volleyball court, a 24-hour fitness center, a computer lab, study area, hammock garden and in-apartment security systems.

 Dan Kearns

The community is located at 300 Bellamy Avenue, just 0.5 miles east of CCU’s campus. Additionally, residents are just 10 miles away from downtown Myrtle Beach.

 

"Our JLL team is thrilled to help facilitate the first financing between Eastman Residential and Freddie Mac, establishing what will be a tremendous long-term relationship," said Kearns.

Sam Tarter

JLL’s Capital Markets group 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.

 

Bellamy Coastal, a 150-unit / 480-bed,
Class A student housing property, serving
Coastal Carolina University in Conway, SC.

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, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com