Regency Centers Announces Third Quarter 2014 Results Showing Same Property NOI Growth of 4.1% and Core FFO Per Share Growth of 9.2%

One Independent Drive office tower, Jacksonville, FL

JACKSONVILLE, FL.--(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”) announced financial and operating results for the quarter ended September 30, 2014.

Regency reported Core Funds From Operations (“Core FFO”) for the Third Quarter of $65.5 million, or $0.71 per diluted share, compared to $60.2 million, or $0.65 per diluted share, for the same period in 2013. 

For the nine months ended September 30, 2014 Core FFO was $195.5 million, or $2.11 per diluted share, compared to $180.3 million, or $1.97 per diluted share, for the same period in 2013.

Funds From Operations (“FFO”) for the Third Quarter was $64.8 million, or $0.70 per diluted share. For the same period in 2013, the Company reported FFO of $60.4 million, or $0.65 per diluted share. For the nine months ended September 30, 2014 FFO was $196.1 million, or $2.12 per diluted share, compared to $180.4 million, or $1.97 per diluted share, for the same period in 2013.

Regency reported net income attributable to common stockholders (“Net Income”) for the Third Quarter of $47.9 million, or $0.52 per diluted share, compared to Net Income of $35.0 million, or $0.38 per diluted share, for the same period in 2013.

 For the nine months ended September 30, 2014 Net Income was $92.8 million, or $1.00 per diluted share, compared to $82.4 million, or $0.90 per diluted share for the same period in 2013.

 For a complete copy of the company’s news release, please contact:

 Regency Centers Corporation

Patrick Johnson, 904-598-7422

PatrickJohnson@RegencyCenters.com

Berkadia’s Southeast Division in Orlando, FL merges with Berkadia Mortgage Banking Division

Hal Warren

ORLANDO, FL --- Berkadia, the jointly-owned venture of Berkshire Hathaway and Leucadia National  Corporation that ranks as one of the nation's leading providers of multi-family mortgage brokerage, investment sales, advisory and research services, has merged two of its Orlando offices.

Hal Warren, senior vice president in Berkadia's Southeast Investment Sales division in Orlando, said his office has merged with Berkadia's Mortgage Banking division on the 13th Floor of the Lincoln Plaza at 300 S. Orange Ave. across from the new performing arts center.

Warren, along with Cole Whitaker, Orlando partner of Berkadia's Investment Sales division and Mary Beale, have left their offices in the Seaside Plaza building at 201 S. Orange Avenue for their new Lincoln Plaza suite, along with Marc Sumner, senior vice president and branch manager for the Orlando mortgage banking division.

 For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com.

Atlanta Apartment Association’s 27thAnnual Food Drive Raises 6.68 Million Meals

David Hirsch

 ATLANTA, GA— The Atlanta Apartment Association’s (AAA) 27th Annual Food-A-Thon raised enough food items and money this year to provide 6.68 million meals to hungry families in metro Atlanta and north Georgia through its partnership with the Atlanta Community Food Bank (ACFB).

The record amount is an increase from last year’s Food-A-Thon, which provided 6.2 million meals.

“We are excited to have provided our largest amount of meals yet to ACFB,” said David Hirsch, Chairman of ECI Group Inc. and of AAA.

“We are humbled by all of the donations from our members, their staff and the residents who live in apartment communities throughout Atlanta. Hunger is a big problem in Georgia and every dollar raised, every can donated and every hour spent volunteering makes a major impact.”

 The event is believed to be the largest food-and-fund drive in the United States. 

During the Food-A-Thon, AAA member firms collect food items and money for donation to the ACFB. The theme of this year’s Food-A-Thon was, “So You Think You CAN Dance!”

 This year’s Food-A-Thon began on June 26 and concluded on Oct. 17 with a colorful parade in which AAA members delivered their food and money donations to ACFB’s headquarters in Atlanta.

 Founded in 1979, ACFB procures more than 50 million pounds of food and groceries each year and distributes them to more than 600 nonprofit partner agencies serving families and individuals in 29 metro Atlanta and north Georgia counties.

For every $1 donated, ACFB can provide $9.21 worth of grocery products back to the community – enough to provide four meals.

 The statistics on those in need in Georgia are sobering. According to Feeding America’s Hunger in America 2014 report, an estimated 755,400 people in metro Atlanta and north Georgia turn to food pantries and meal service programs to feed themselves and their families each year. This includes more than 164,000 children and more than 64,000 seniors.

 For the ACFB service area, the report shows that 80,600 people are served each week by programs supported through ACFB, and that those clients turn to ACFB partner programs and pantries for help more than 6.1 million times during the course of the year. 

This means clients are visiting ACFB network programs an average of eight times a year.

For a complete copy of the company’s news release, please contact:

Angie Clawson, Public Relations Manager

Atlanta Community Food Bank

Angela.clawson@acfb.org

678-553-6010 (O) 404.569.4945 (C)

  

Stephen Ursery

The Wilbert Group

404-549-7150 (O) 404-405-2354 (C)

sursery@thewilbertgroup.com

Low Interest Rates Continue to Support Strong Real Estate Market

Jeanne Peck

Chicago, IL, Nov.  3, 2014 - In the past couple of weeks, mortgagerates dropped to their lowest level since earlier in the summer, only to rebound upward by about over quarter percent after the stock markets rallied to their best levels in over a year. 

 Global anxieties overshadow an improving American economy, keeping bond yields near record-low territory.
Instant volatility prevails ignited by any news outbreak such as the MiddleEast, Ebola and Russia, rattling Treasurys by 10 to 20 basis points in within a day.

"Uncertainty prevails, but low interest rates are definitely supporting a strong real estate market." says Jeanne Peck of the Real Estate Capital Institute(r). 

On the other side of the equation, mortgage spreads keep declining from their historical norms.  Currently spreads are about ten to twenty basis points narrower than the averages for the past three decades.  

 The outlook for commercial real estate mortgages is strong despite erratic Treasury note

behavior.  A stronger domestic economy is definitely buoying commercial
property fundamentals, generating a very narrow mortgage pricing band across
multiple asset classes. For instance, equally-leveraged office properties
trade only about five basis points wider than multifamily assets; Industrial
and retail rates are nearly equally priced.  Only a month ago, the rate
premiums between various property types varied as much as ten basis points.

Quickly tightening mortgage spreads occasionally create unique yield
inversions, as many investors are caught off guard.  In some cases, the
mezzanine and preferred equity tranches actually priced lower than the
higher-risk components of senior debt.  Freshly-priced mezz/pref equity
funds were blended with older, higher-priced senior debt lining up for
securitization.

Even all of the market instability, 2014 will shape up to be a record-year for the industry. An ever-expanding list of capital sources continue to look

for funding opportunities as mortgage yields are still relatively attractive in relationship to corporate and government bonds.  

Nearly all institutional investors now view mortgage debt as a legitimate investment vehicle as securitization data provide clear yield and performance benchmarks.

The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.  Furthermore, call the Real Estate Capital RateLine at
7RE-CAPITAL (773-227-4825) for daily rate updates.


For a complete copy of the company’s news release, please contact:

The   Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624
Contact: Jeanne Peck, Executive Director
director@reci.com / 
www.reci.com

JLL Hires Matthew Patterson as Vice President in Atlanta

Matthew Patterson

ATLANTA, GA, Nov. 5, 2014  – JLL today announced that Matthew Patterson has joined its Atlanta office as Vice President.

 Known throughout the metro area for his deep expertise in the industrial sector, Patterson will focus on tenant representation for the industrial brokerage team and, using his extensive background from prior positions with the Metro Atlanta Chamber of Commerce and the State of Georgia, will pursue new business in the manufacturing, distribution and supply chain industries.

“The market knowledge, experience and contacts that Matthew brings cannot be overstated,” said Mike Sivewright, Atlanta Market Director.

“His hiring adds a powerful dimension to an already formidable industrial team and ensures our presence in the Atlanta industrial market will continue to grow. 

"Matthew’s insight and analysis will enable our clients to seize opportunities, anticipate change and successfully navigate today’s industrial real estate market.”

Patterson joins JLL from the Metro Atlanta Chamber of Commerce, where he most recently served as Director of Supply Chain and Advanced Manufacturing and played a critical role in developing and maintaining the Chamber’s global marketing strategy to the manufacturing sector.

For a complete copy of the company’s news release, please contact:

  Stephen Ursery

  Phone: +1 (404) 549-7150

  Email: sursery@thewilbertgroup.com

 

 www.jll.com.

NAI Realvest completes leases totaling more than 10,000 square feet at South Seminole Industrial Center in Longwood, FL

Kristen Kemp

ORLANDO, FL – NAI Realvest recently negotiated two industrial leases that total 10,058 square feet in South Seminole Industrial Center in Longwood – one expansion and one renewal agreement.

Michael Heidrich, a principal at NAI Realvest represented the landlord Eckstein Properties LLC, of New York, NY in a lease renewal agreement with tenant Tijuana Flats Hot Foods LLC  for Suite 2900 with 5,204 square feet at 1075 Florida Central Parkway at the center.  

Heidrich and Associate Kristen Kemp brokered an expansion lease agreement with Horner Xpress Central Florida, Inc. at 975 Florida Central Parkway representing the same landlord.  

The tenant already occupied 14,562 square feet and expanded into an additional 4,854 square feet in Suite 1100 for a total occupancy of 19,416 square feet at South Seminole.

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com

Robin Webb, CCIM, Managing Director of NAI Realvest in Orlando, FL Elected to Serve as 2015 CCIM Institute First Vice President

Robin Webb

ORLANDO, FL – The CCIM Institute (www.ccim.com), one of the largest commercial real estate networks in the world with chapters in more than 30 global markets, announced its new 2015 leadership team at the organization’s annual conference in Los Angeles Oct. 17-21.

The CCIM Institute confers the Certified Commercial Investment Member (CCIM) designation, commercial real estate’s global standard for professional achievement.      

Robin Webb, CCIM, managing director/principal of NAI Realvest in Orlando, Fla., was elected to serve as 2015 First Vice President of the CCIM Institute. 

“It has been an honor to wear the pin for three decades and I am excited to continue to serve the Institute as First Vice President in the year ahead,” Webb said.

Webb has a wide range of involvement with the organization, serving as Treasurer, Florida Chapter President, Regional Vice President, Presidential Liaison, and on a number of committees, including Member Services, Designation, Finance, and the Legislative Affairs Subcommittee, among others. 

Webb has also had extensive involvement with the CCIM Foundation, most recently serving as 2014 President. He holds the Certified Property Manager designation, among several other industry designations.

Mark Macek

The other 2015 executive leadership team members include President Mark Macek, CCIM, president and owner of Macek Companies, Inc., in Great Falls, Mont.; President-Elect Steven W. Moreira, CCIM, president of Magic Properties and Investments, Inc., in Longwood, Fla.; Treasurer Charles C. (Chuck) Connely IV, CCIM, managing director of EPR Financial Services in Kansas City, Mo.; and Treasurer-Elect Louis H. Nimkoff, CCIM, president of Brio Real Estate in Winter Park, Fla.

Learn more about the CCIM Institute at www.ccim.com.

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com

WNC Promotes Chief Financial Officer Melanie Wenk to Senior Vice President

Will Cooper Jr.

IRVINE, CA, Nov. 4, 2014 – WNC, a national investor in real estate and community development initiatives, announced today that Chief Financial Officer Melanie Wenk has been promoted to senior vice president.

“Melanie is a dedicated professional and respected leader at WNC who has directly contributed to the company’s success over the past 11 years,” said Will Cooper Jr., president and chief executive officer of WNC.

“She has consistently demonstrated a commitment to WNC’s mission to protect and expand the nation’s stock of quality affordable housing and is an invaluable member of our executive team.  I couldn’t be more pleased to expand her role and responsibilities as we continue to grow the company.”

For a complete copy of the company’s news release, please contact:

Julie Leber

Account Manager

Spotlight Marketing Communications

18101 Von Karman Avenue, Suite 330

Irvine CA 92612

949-427-5172, ext. 703

julie@spotlightmarcom.com

Yvonne Baker Joins Cushman & Wakefield as Senior Director of Office Leasing Services in Central Florida

Yvonne Baker

 ORLANDO, FL — Cushman & Wakefield is pleased to announce that Yvonne Baker has joined the firm's Orlando office as Senior Director of Office Leasing Services. 

Ms. Baker will lead the firm’s local agency leasing efforts while continuing to grow the practice in Central Florida.

Ms. Baker has more than 25 years of commercial real estate experience and brings an incredible breadth and depth of knowledge to Cushman & Wakefield.

She is an industry leader in the areas of leasing, development, sales, property management, construction management, brokerage operations, lending, credit analysis, training and management. Ms. Baker has generated lease value in excess of $350 million through 4.5 million square feet of executed leases.

“We are excited that Yvonne has joined our Orlando team as the leader of our office agency leasing practice,” said Florida Market Leader Larry Richey. “With her on board, we expect to quickly grow our market share and client base in this important service line.”

Larry Richey

Ms. Baker comes to Cushman & Wakefield from Jones Lang Lasalle. There, she was responsible for identifying, cultivating, and engaging prospective landlord clients while listing and marketing space for office owners.

 She helped grow the firm's Central and North Florida office portfolio from one million square feet to 4.6 million square feet.

"The opportunity to be part of leading and growing the office leasing agency practice for Cushman & Wakefield here in Orlando is a great challenge with immense potential," said Baker.

 "I am so pleased to be joining a firm with a rich legacy in commercial real estate services and I look forward to being a part of moving us into a prominent market position."

Ms. Baker previously spent 14 years with Highwoods Properties as Senior Leasing Representative where she was responsible for a 1.1-million square-foot Class A portfolio of downtown high-rise and suburban mid-rise buildings.

She was the recipient of the Orlando Business Journal’s 2014 Women Who Mean Business Award, which recognized ten leading executive business women in the Central Florida community.

Ms. Baker is active in NAIOP serving as a Board Member and Treasurer, Commercial Real Estate Women (CREW) (former President), and the University of Central Florida Real Estate Council.

 For a complete copy of the company’s news release, please contact:

David.Meyer@cushwake.com

HFF closes sale of and arranges financing for 196-unit apartment and townhome community in Yardley, PA

Jose Cruz

PHILADELPHIA, PA – HFF announced today that it has closed the sale of and arranged acquisition financing for Yardley Crossing, a 196-unit multi-housing community situated along the Delaware River in Yardley, Pennsylvania.

HFF marketed the property exclusively on behalf of the seller, Fairfield Belmondo LLC.  Relative Properties, a new venture led by principles Devin Aronstam and Paul Aschkenasy, purchased the asset.  HFF also worked exclusively on behalf of the buyer to secure Fannie Mae financing for the property.

Yardley Crossing is located at 1800 Kathy Drive in Yardley along the Pennsylvania/New Jersey border, offering views of the Delaware River.  

Situated on 23.68 acres, the transit-oriented property is approximately 35 minutes from Center City Philadelphia and 55 minutes from New York City.

Mark Thomson

 The asset is predominantly comprised of two- and three-bedroom townhome-style units averaging more than 1,200 square feet, and also includes 12 one-bedroom flats that are 775 square feet.  Community amenities include a swimming pool, basketball courts, playground, jogging and bike trails, clubhouse and recreation room.

The HFF investment sales team representing the seller was led by senior managing directors Zac Pierce, Mark Thomson and Jose Cruz.

HFF’s debt placement team was led by managing directors Ryan Ade and James Conley. 

According to Pierce, “Yardley Crossing generated a significant amount of investor demand due to the property’s convenient location proximate to several major cities, and its upside potential.  All parties involved executed flawlessly and epitomized professionalism throughout the course of the transaction.”

Zac Pierce

“The HFF team has a track record of roughly $500 million in transactions with Devin Aronstam, and we are excited to have been involved in the first acquisition of the new Relative Properties venture,” Thomson said.  “We look forward to the opportunity to work with their team again in the future as they expand their market share in the region.”

Fairfield Residential (“Fairfield”) is among the most experienced multi-housing real estate operating companies in the United States.  

Fairfield consistently ranks among the leading multi-housing developers, builders, redevelopers, managers and owners in the United States and is active in over 40 geographically diverse markets. 

Fairfield employs approximately 1,600 people in offices strategically located throughout the country.

  

For a complete copy of the company’s news release, please contact:

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.fairfieldresidential.com.

George Smith Partners Secures $172.3 Million in Bridge Financing for 36-Property National Portfolio

J.Jay Brooks

LOS ANGELES, CA (Nov. 3, 2014) – Commercial real estate investment banking firm George Smith Partners has successfully arranged a $172.3 million bridge loan for a portfolio of 36 properties located in 17 states nationwide, according to George Smith Partners’ Senior Vice President J. Jay Brooks.

            “This portfolio had been mired in complex litigation for many years as a result of a loan maturity default that took place during the recent recession,” explained Brooks.

“George Smith Partners was intimately involved in the finance process for this portfolio from beginning to end.

“ By keeping our client in front of the best capital providers during a volatile time, the client was able to negotiate the terms of the bankruptcy exit and ultimately secure the bridge financing needed to maintain their ownership of this portfolio.”

            The portfolio includes regional malls, office buildings, industrial properties and mobile home parks located in both secondary and tertiary markets from Louisiana to Alaska.

For a complete copy of the company’s news release, please contact:

Corynne Randel/ Jenn Quader

Brower, Miller & Cole

(949) 955-7940

Crandel@browermillercole.com

Marcus & Millichap Lists Four-Story Office Building for Sale at $19.5 Million in Queens, New York City

48-02 25th Avenue, Astoria Neighborhood
Queens, New York City

NEW YORK, Nov. 3, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced it has retained the exclusive listing to market for sale 48-02 25th Ave., a four-story, 95,000-square-foot office building in the Astoria neighborhood of Queens in New York City.

The listing price is $19,500,000.

Mark Gjonbalaj and Andrew Watson, both in Marcus & Millichap’s Manhattan office, are representing the seller, a Queens-based owner/investor.

Mark Gjonbalaj

“The building offers an excellent opportunity to capture rent growth in the near future from surging demand for office space in the Astoria/Long Island City office marketplace,” says Gjonbalaj.

“The property’s high-tech industry tenants are part of a growing trend of tech companies that need proximity to Manhattan without paying Manhattan’s premium rents.”

“Long Island City and Astoria are enjoying a residential redevelopment renaissance, yet there are very few new or competitive commercial developments in the area,” adds Watson.

Constructed in 2009, the building is located at 48-02 25th Ave. in New York, right off the Brooklyn-Queens Expressway (Interstate 278) with immediate access to the Grand Central Parkway and full-block exposure on 25th Avenue between 47th Street and 48th Street.

The location provides easy access to LaGuardia Airport, the Robert F. Kennedy Bridge and major roadways leading to other points in Queens, Manhattan, Brooklyn and the Bronx.

Andrew Watson

         The building is situated on a 34,055-square-foot lot. The ground floor level is approximately 27,000 square feet, the second floor is an approximately 34,000-square-foot parking level with 136 surface spaces, and the third and fourth floor levels are approximately 17,000 square feet each.

For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716

Thomas D. Wood and Company’s Boca Raton Office Secures $8,215,000 in Commercial Mortgage Transactions

Patrick Madore

Boca Raton, FL – Nov. 3, 2014 – The Boca Raton Office of Thomas D. Wood Company, a Strategic Alliance Mortgage LLC member, secured $8,215,000 in commercial mortgage transactions for properties throughout the states of Missouri, Illinois, Louisiana, and Florida. 

  Interest rates continue to stay as low as 4.0%, contributing to the increase in successful closings.

Senior Vice President Patrick Madore, accepted the challenge in securing financing in the amount of $660,000 for the Popeye’s Restaurant in Raytown, Missouri.  The borrower was purchasing a sale lease-back property through a 1031 exchange and needed financing. 

Madore secured financing through Thomas D. Wood and Company’s correspondent relationship with Symetra Life Insurance Company, providing the borrower with a competitive fixed rate, and closed the loan on the date specified for the 1031 exchange.

Madore secured financing for the CVS Pharmacy in the amount of $2,850,000 through Symetra Life Insurance Company.  The permanent non-recourse loan has a term of 20 years, based on a 25-year amortization.  The 13,824 square-foot single-tenant retail building is located in Baton Rouge, Louisiana.

Madore obtained financing for the Checkers Drive-In Restaurant and Billboard in the amount of $715,000 through Symetra Life Insurance Company.  

The borrower was purchasing the property through a 1031 exchange.  Madore secured a permanent non-recourse loan with a term of 15 years, based on a 25-year amortization.  The restaurant is located in Maywood, Illinois.

  

Madore secured financing for Canterbury Place Apartments in the amount of $2,250,000 through Thomas D. Wood and Company’s correspondent relationship with Ameritas Investment Partners.  Madore obtained long-term financing for the borrower with a very favorable interest rate.  The permanent fixed-rate loan has a term of 15 years, based on a 20-year amortization.  The 80-unit multi-family property is located in Vero Beach, Florida.

Madore obtained financing for Chesnutt Plaza in the amount of $1,740,000 through Thomas D. Wood and Company’s relationship with a national bank. 

  The permanent fixed-rate loan has a term of 10 years, based on a 20-year amortization and a loan-to-value of 80%.  The 15,000 square-foot mixed-use medical office and retail building is located in Vero Beach, Florida.

For a complete copy of the company’s news release, please contact:

Jessica Kinnee

Director of Marketing & Public Relations           

Thomas D. Wood & Co.           

 (407) 374-0251              

jessica@tdwood.com

    

CBRE Brings New Tenants to The Plaza in Boca Raton, FL

Michael Erickson

BOCA RATON, FL,  Nov. 3, 2014 -- CBRE has signed Imperial Finance & Trading, LLC, a subsidiary of specialty finance company Imperial Holdings, Inc. (NYSE: IFT),  to an 11,000 square foot lease at MetLife’s The Plaza in Boca Raton. The firm moved into their new office space this month.

Antony Mitchell, CEO of Imperial, commented, “We are thrilled to move to our new Boca Raton location at The Plaza. This new space satisfies our operating needs while meaningfully lowering our annualized rental costs.”

Michael Erickson, Senior Vice President with CBRE handled the real estate transaction on behalf of building owner MetLife. Imperial was represented by co-brokers Ryan Nunes, Scott Allen and Shay Pope of CBRE’s South Florida Occupier Services Group.

 Other recent leases included Weingarten Realty Investors (NYSE: WRI) 5,000 square foot lease for the company’s South Florida regional office.

For a complete copy of the company’s news release, please contact:

Michael Erickson, CBRE, (561) 393-1616 michael.erickson@cbre.com

Fred Pieretti, MetLife, (212) 578-2631 fpieretti@metlife.com

David Sasso, Imperial  561.995.4300 IR@imperial.com

www.imperial.com.

JLL Named Exclusive Leasing Agent for New Industrial Park in South Metro Atlanta

Rendering of Lambert Farms Logistics Park, Henry County, GA

ATLANTA  - JLL’s Atlanta office announced it was named exclusive leasing agent for Lambert Farms Logistics Park, a Class A, 447-acre industrial park being developed by MetLife Inc. and Panattoni Development Company, Inc. in Henry County, Georgia, approximately 25 miles south of downtown Atlanta.

Wit Truitt

Executive Vice President Wit Truitt, Senior Vice President Chris Tomasulo, Vice President Rodney Davidson and Associate Reed Davis will lead the JLL leasing team.

“The Lambert Farms Logistics Park is perfectly poised to thrive for years to come,” Truitt said. “Large blocks of Class A industrial space already are in short supply in metro Atlanta, and as the economy improves and distribution activity picks up, the demand for these kinds of properties will only rise.

“This assignment represents a tremendous opportunity for our team.”

Panattoni just broke ground on the master-planned industrial park’s first phase, which will consist of a 750,000-square-foot spec distribution center on 183 acres.

Chris Tomasulo

The state-of-the-art building will feature 36-foot clear heights, abundant parking for tractor-trailers and cars to accommodate both e-commerce and traditional bulk tenants, and will be built to LEED standards. The building is slated to be delivered by July 2015.

Site plans allow the spec building to expand to up to nearly 1.5 million square feet. Overall, Lambert Farms Logistics Park will be able to accommodate up to seven million square feet of total distribution space and individual buildings up to two million square feet in size.

The industrial park sits on the east side of the intersection of I-75 and SR 155.

Rodney Davidson

“Panattoni has been an active developer in the Southeast with nine projects under construction totalling more than 5.8 million square feet,” said Dayne Pryor, Partner at Panattoni. “Nationwide, Panattoni is currently under construction on 39 projects totalling more than 16.5 million square feet.”

“We are excited to have JLL as the exclusive leasing agent for Lambert Farms,” said Whitfield Hamilton, Partner at Panattoni. “We have a long, successful history with JLL, including currently pursuing about four million square feet of build-to-suit opportunities in Nashville, Miami, Memphis and Greenville, South Carolina.”

For more news, videos and research resources on JLL, please visit JLL’s U.S. Media Center web page.

For a complete copy of the company’s news release, please contact:

Stephen Ursery       

Phone: +1-404-549-7150

Email:  sursery@thewilbertgroup.com

         

www.jll.com.