Marcus & Millichap sells Flexible B-2 ZoneD Development Site in Cooper City, FL for $3 Million

                                                        

Aaron O'Connor

COOPER CITY, FL, July 14, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of St. Michel Development Site, a 150,282-square feet of land located in Cooper City, FL, according to Ryan Nee, Vice President/Regional Manager of the firm’s Fort Lauderdale office. The asset sold for $3,000,000.

Aaron O'Connor, Senior Associate, Adam G. Duncan, Vice President Investments, and Joseph P. Thomas, First Vice President Investments, all in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor, and secured and represented the buyer, a private investor.

St. Michel Development Site is located at Southwest 111 Terrace in Cooper City, FL.  The property has over 600 feet of frontage along Griffin Road, which is one of the most heavily traveled corridors in Cooper City, with over 30,000 vehicles traveling past the site daily.

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

Ryan Nee

Vice President / Regional Manager, Fort Lauderdale

(954) 245-3400

The Keyes Company’s Marta DuPree and Carlos Garcia Recognized as Top Agents by Prominent Industry Group

Marta Dupree

MIAMI, FL, July 14, 2017 - The Keyes Company has announced Marta Dupree and Carlos Garcia have been recognized as part of the 2017 Top Latino Agent Awards by The National Association of Hispanic Real Estate Professionals.

DuPree, ranked No. 4 in Florida, is a Keyes vice president who specializes in luxury homes, waterfront, acreage, investments, condos, townhouses, golf, and gate communities. Along with Neil DuPree, the DuPree team is the No. 1 producer for Keyes, with a career sales volume of more than $1 billion.

Carlos Garcia

Garcia, ranked No. 16 in Florida, is also a vice president, as well as the top producing real estate leader for Keyes in Miami-Dade County. 

He is a Certified Residential and Relocation Specialist. In January 2017, Garcia was awarded the President's Council Award for the 22nd consecutive year at the Keyes Annual Awards and has been ranked amongst the top five sales associates in the company since his tenure with the Keyes began.

In its sixth year, the NAHREP list recognizes the top 250 agents for their outstanding work and dedication to the real estate industry and increasing Hispanic homeownership. 

Those named to this year’s list brought in a combined $6.07 billion in transaction volume. The top 250 will be honored at the 2017 National Convention & Latin Music Festival in Dallas this September.

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

Jasmin Curtiss

PR Coordinator, BoardroomPR

jcurtiss@boardroompr.com

O 954-370-8999

Southern Lodging Summit to Host 15th Annual Conference Aug. 29-30 in Memphis, TN; Industry Icon James E. Burba Named Keynote Speaker

Andrea Foster

MEMPHIS, TN —Officials of the Southern Lodging Summit, an annual gathering of hoteliers specializing in development and operations in the southern United States, will host its annual conference August 29-30, 2017, in Memphis, Tenn.  A discounted “Early Bird” rate runs through Saturday, July 15.

James E. Burba

Celebrating its 15th year, the conference kicks off with the organization’s signature luncheon at the world-famous Rendezvous BBQ Restaurant, offering networking opportunities with industry experts and event speakers such as keynote speaker and Burba Hotel Network Co-Founder James E. Burba. 

A full day of sessions will occur at the Memphis Cook Convention Center, kicking off with the Annual Presidents Panel, including such industry stalwarts as Jagruti Panwala, AAHOA treasurer and president/CEO, Wealth Protection Strategies; Doug Dreher, president/CEO, The Hotel Group Holdings, LLC; Patrick Pacious, president/CEO, Choice Hotels International; and Andrea Foster, senior VP of development; Marcus Hotels & Resorts.

 The conference will provide rich, detailed industry analysis with presentations from STR’s Jan Freitag and CBRE’s Robert Mandelbaum highlighting current industry trends.

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

Chris Daly, media

Main (703) 435-6293

Mobile: 703-864-5553

 chris@dalygray.com

www.dalygray.com

JLL arranges $140 million refinancing for Chicago’s Gallagher Way

   

The mixed-use asset is adjacent to Wrigley Field, home of the Chicago Cubs

CHICAGO, September 17, 2019 – JLL announces that it has arranged a $140 million refinancing for Gallagher Way, a recently completed lifestyle mixed-use development. The development comprises more than 93,000 square feet of office space, 85,100 square feet of retail space along with the 173-room Hotel Zachary and an open-air entertainment plaza adjacent to Wrigley Field, which is prominently located in Chicago’s Wrigleyville neighborhood.  

JLL worked on behalf of the borrower, Hickory Street Capital, the real estate arm of the Ricketts family, to place the 30-year, fixed-rate loan with Barings, one of the world’s largest real estate investment managers on behalf of one of its managed accounts. Loan proceeds will replace the current construction financing arranged by the same Capital Markets team in 2016.

Gallagher Way includes two towers; the six-story Tower 1 houses 47,086 square feet of retail space and 93,667 square of office space anchored by the Chicago Cubs front office and the American Airlines Conference Center. It is located at the intersection of West Waveland Avenue and North Clark Street. Tower 2 is anchored by the Class A Hotel Zachary and contains 38,014 square feet of retail and entertainment space. The seven-story Tower 2 is at the intersection of West Addison Avenue and North Clark Street. The 30,000 square-foot Gallagher Way Plaza offers year-round programming for neighbors, families, Cubs’ fans and visitors. The plaza includes 8,000 square feet of green space and capacity for 1,000 seats or 3,000 standing guests for outdoor concerts, movies, and ice-skating rink and other events.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Danny Kaufman and Director Christopher Knight along with Managing Director Jeff Bucaro and Director Nicole Aguiar. 

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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

- ends -

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas (IL) LP.

About Hickory Street Capital

Hickory Street Capital (HSC), is a Chicago-based real estate development company owned by the Ricketts family — owners of the Chicago Cubs. In 2018, HSC completed its Wrigleyville development project — a $250 million, lifestyle mixed-use development adjacent to Wrigley Field. Visit hickorystreetcapital.com for more information.

About Barings

Barings is a $325+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of its clients and customers. Through active asset management and direct origination, Barings provides innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.

*As of June 30, 2019

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Connect with us:

Contact: Kimberly Steele, Digital Content/PR Specialist

Phone: +1 713 852 3420

Email: Kimberly.Steele@am.jll.com

Contact: Rachel White

Phone: +1 980 417 5886

Email: Rachel.White@barings.com

MCA Realty Sells Final Building in Brookhollow Freeway Showroom Center Off Costa Mesa 55 Freeway in Orange County, CA

Brookhollow Freeway Showroom Center, 154 East Warner Street, Santa Ana, CA

SANTA ANA, CA – MCA Realty, a full service real estate investment and management company, has sold the final building in the Brookhollow Freeway Showroom Center, an 87,609 square-foot multi-tenant retail/showroom project in Santa Ana, California.

The facility, which is located alongside one of Orange County’s busiest freeways, consists of four separate buildings, three of which were previously sold by MCA in late 2015.

Tyler Mattox

The sale of the fourth building, a 13,072 square-foot retail showroom currently occupied by Wine Exchange, brings the investment completely full cycle, according to MCA Realty Principal Tyler Mattox.

“We were able to create significant value by renovating this asset, and subdividing the parcel to allow us the ability to sell each building individually,” says Mattox. 

“The Orange County market is characterized by exceptional demographics, strong demand, and a limited amount of new supply, which continues to place upward pressure on rental rates and property values. We capitalized on this dynamic to achieve strong rates of return for our capital partners.

MCA Realty initially purchased the property in 2013 for $9.5 million and implemented a comprehensive capital improvement plan, including interior and exterior improvements, updates to the façade, and a renovated landscaping scheme.

“We were able to significantly increase the value of the asset in performing these improvements, says Mattox. 

The building is located at 154 E. Warner in Santa Ana, California. It was sold to WTW Properties, LLC, for $3.3 million. The previous three buildings were sold for a combined total of $16.8 million.

Joe Winkelmann, Nick Velasquez, and Michael Hartel of Colliers International represented MCA Realty as the seller in the transaction. Ryan Swanson and Chris Conway of Lee & Associates represented the buyer, WTW Properties, LLC.

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

Lauren Burgos

Junior Account Executive

Brower, Miller & Cole

895 Dove Street, Third Floor

Newport Beach, CA 92660

p: (949) 955-7940

lburgos@browermillercole.com

Marcus & Millichap Brokers $625,000 Sale of Palmview Court in Bradenton, FL

Michael Donaldson

BRADENTON, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Palmview Court, a 8-unit apartment property located in Bradenton, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $625,000.

Michael Donaldson, Nicholas Meoli and Adam Podbelski, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was also secured and represented by Adam Podbelski, Nicholas Meoli and Michael Donaldson. 

Palmview Court is located at 2519 9th Ave W in Bradenton, Florida. 

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

Ari Ravi

Regional Manager, Tampa

(813) 387-4700

Hold-Thyssen Negotiates Five Year Lease with Heartland Dental at Royal Oaks Plaza in Clermont, FL

Darby Hold

Alex Rowlinson

CLERMONT, FL and WINTER PARK, FL --- Hold-Thyssen, Inc., a full service commercial property firm based in Winter Park, recently negotiated a five year  lease renewal for 3,000 rentable square feet at 2105 Hartwood Marsh Rd. in Clermont.

The Hold-Thyssen leasing team of Darby Hold and Alex Rowlinson represented the landlord 2105 Hartwood Marsh Road Holdings, LLC. 

The tenant in Suite 3 – Heartland Dental, LLC, a dental support organization – will  continue to help established practices and young professionals further their dental careers through education and new innovative techniques and tools, in Royal Oaks Plaza in Clermont.

Hold-Thyssen, Inc. provides commercial property brokerage along with leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

For more information about this press release, please contact:

      

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

Griffin-American Healthcare REIT IV Acquires Medical Office Building in Roseburg, OR

Stefan Oh

PORTLAND, OR (July 11, 2017) — American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced today that the REIT has acquired Roseburg Medical Office Building in Roseburg, Oregon.

Built in 2002, the approximately 62,000-square-foot Roseburg Medical Office Building is currently 100 percent triple net leased to Mercy Medical Center, Inc. and Centennial Medical Group with an average remaining lease term in excess of nine years and annual rent escalators between 2 percent and 3 percent.

The medical office building is physically connected to the 174-bed Mercy Medical Center and provides a broad range of medical and surgical services, including, but not limited to: physical therapy, imaging, neurosurgery, podiatry and orthopedics.

Mercy Medical Center is the largest hospital in Douglas County, Oregon and a member of Catholic Health Initiatives, one of the nation’s largest health systems.

“Roseburg Medical Office Building enjoys an enviable location on the campus of, and with a physical connection to, the region’s dominant hospital,” said Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV.

“This acquisition also further expands the geographical diversity of the Griffin-American Healthcare REIT IV portfolio, as well as establishes a new affiliation with one of the nation’s premier health systems.”

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

Damon Elder

Spotlight Marketing Communications

(949) 427-5172 ext. 702

damon@spotlightmarcom.com

Providence One Partners, LLC and Watercrest Senior Living Group to Celebrate the Groundbreaking of Sage Park Assisted Living and Memory Care in Kissimmee, FL Osceola Corporate Center

Rendering of Sage Park Assisted Living and Memory Care Facility,
Osceola Corporate Center, Kissimmee, FL

  

KISSIMMEE, FL, –   Providence One Partners and Watercrest Senior Living Group will gather with city officials, development, construction, and design partners July 11th to celebrate the groundbreaking of Sage Park Assisted Living and Memory Care. The 128-unit assisted living and memory care community located in Kissimmee’s Osceola Corporate Center will open in Fall 2018.

Michelle Pierce

                                                                                                  (Photo by Jim Marchidi)

"Providence One Partners is excited about our partnership with Watercrest Senior Living and the opportunity to build a cutting edge Assisted Living Community with Memory Care in the Osceola Corporate Center,” said Michelle Pierce, Chief Operating Officer at Providence One Partners. 

Marc Vorkapitch

“Sage Park will be an assisted living rental community with floorplans, amenities and activities specifically designed for seniors seeking a superior living experience unmatched in the area to date. We hope Sage Park will reflect the excitement and smart growth happening in Osceola County around us.”

Upon completion, Sage Park will include 106,882 square feet of living space made up of 104 assisted living residences, 24 memory care residences and a large amenity space with multiple venues for eating, entertainment and activities.

 Activity rooms will be centrally and conveniently located and feature a business center, café/grill, fitness facility with senior friendly equipment, full-service restaurant with dancing floor, music, and bar areas, card room, full service spa and salon, theatre with full gaming area, central living rooms, craft room, 24 hour secured access and lavishly landscaped outdoor courtyards with screened in porches. 

The community architect is Forum Architecture who designed the building to bring resort-style living to the Assisted Living market.

  

”Sage Park will be a state-of-the-art community providing unparalleled service, and personalized enrichment programming to enhance life experiences for our residents, families and caregivers,” says Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group.  “We provide our staff with innovative training to provide world-class care for seniors.”

Joan Williams

Providence One Partners, the project’s developer has partnered with Watercrest Senior Living Group as a co-owner and operator of the community. Sage Park is the fourth senior living project for Providence One. The company developed similar communities in Wildwood, FL and has projects under construction in Stuart and Delray Beach. For more information, visit www.providence-one.com.

Watercrest Senior Living Group specializes in the development and operations management of assisted living and memory care communities.  With multiple senior living projects across the southeast, Watercrest Senior Living Group principals, Marc Vorkapich, CEO and Joan Williams, CFO, are setting new standards of quality for seniors and their families in the development of upscale senior living communities.

 For more information, visit www.watercrestgroup.com.

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

 Michelle Pierce

Providence One Partners

407-333-0900

mpierce@providence-one.com

Westwood Financial Expands Leadership Team for Future Growth

Stuart Brackenrdige

LOS ANGELES, CA (July 10, 2017) – Westwood Financial, a real estate investment firm with a portfolio totaling over $1.5 billion in shopping centers throughout the U.S., has announced the expansion of its executive leadership team with the addition of Stuart Brackenridge, Senior Vice President of Acquisitions.

This appointment comes on the heels of Westwood Financial’s recent restructuring of 77 of its 120 retail center holdings and its management company into a single, $1.5 billion retail real estate company that will drive greater ease of investments, streamline operating efficiencies, and position the firm for rapid growth in 2017, according to Co-CEO Joe Dykstra.

“Our recent consolidation of over 280 partnerships into a single $1.5 billion entity provides us with a well-capitalized structure that will enable us to compete in this evolving retail landscape,” explains Dykstra. “As we continue on this trajectory of growth, we are also growing our leadership team to direct the expansion of our retail portfolio and spearhead strategic acquisitions in top metropolitan markets throughout the nation.”

Joe Dykstra

“Stuart brings over 25 years of real estate investment expertise, specifically in grocery-anchored shopping centers, and will be instrumental in guiding the future success of our acquisition efforts,” adds Co-CEO Randy Banchik. 

“His depth of experience will play a significant role in furthering Westwood’s objective to acquire grocery-anchored and daily needs retail centers with diverse, high-quality tenant mixes in desirable locations.”

Prior to Westwood, Brackenridge served roles in both Acquisitions and Development at Regency Centers for 20 years, where he was responsible for sourcing, underwriting and closing core grocery-anchored retail centers across the country. He graduated from the University of North Texas with a degree in Management and holds an MBA in Real Estate from Texas A&M University.

            Brackenridge will divide his time between Westwood’s Dallas and Los Angeles offices, but will be based in Dallas, Texas.

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

Lauren Burgos / Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

LBurgos@browermillercole.com

HFF hires Tom Hall as a managing director in its New York office

       

Tom Hall

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced Tom Hall has joined its New York office as a managing director focused on loan and REO portfolio sales throughout the United States.  Mr. Hall will work alongside Brock Cannon, Sean Ryan and Patrick Arnold in HFF’s loan sales group.

Mr. Hall has more than 10 years of experience and joins HFF from Mission Capital, where he was a managing director.  Prior to Mission Capital, he spent time in the Special Assets department of BB&T and Colonial Bank.

“Tom has a wealth of experience and we are excited to welcome him to our team as we look to continue to be a market leader in the loan and REO sale space,” said Gerard Sansosti, executive managing director and co-head of HFF’s debt platform and loan sales team.  “By partnering with our existing specialists, Tom’s expertise in the business will strengthen our platform and expand our breadth of capabilities even more.”

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

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF secures $12.6 million acquisition and repositioning financing for beachside hotel in Pensacola Beach, FL

Days Inn Hotel, 16 Via De Luna Drive, Pensacola Beach, FL

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $12.6 million in non-recourse financing for the acquisition and repositioning of the Days Inn Hotel, a 123-room beachside hotel located in Pensacola Beach, Florida.

Nicole Schmidt

HFF worked on behalf of the borrower, a joint venture between RREAF Holdings and Innisfree Hotels, to place the floating-rate loan with two one-year extension options with Benefit Street Partners Realty Trust.  Innisfree Hotels will be a partner in the hotel and will manage the property.

After renovations are complete, the three-story Days Inn hotel will have two outdoor, resort-style pools; a Tiki bar; upgraded landscaping; an additional seven guest rooms; fitness center; business center; beach access and sundeck. 

Jeff Bucaro

Situated on white sand beaches overlooking the Gulf of Mexico, the hotel is located at 16 Via De Luna Drive on Pensacola Beach’s Santa Rosa Island. 

The hotel is within walking distance to numerous popular restaurants and is proximate to major tourist attractions, including deep-sea charters, recreational water sports, Naval Air Station Pensacola and the Zoo at Gulf Breeze.

The HFF debt placement team representing the borrowers was led by director Jeff Bucaro and associate Nicole Schmidt.  This represents the 10th financing transaction completed by Bucaro for the two borrowers.

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

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

http://innisfreehotels.com

http://rreaf.com.

HFF closes $31.2 million sale of Sheraton Orlando North Hotel

Sheraton Orlando North Hotel, 600 North Lake Destiny Road, Maitland, FL

Michael Weinberg

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $31.2 million sale of the Sheraton Orlando North Hotel, a 389-room, full-service hotel in the Orlando-area community of Maitland, Florida.

HFF marketed the property on behalf of the seller, a partnership between Värde Partners, Interstate Hotels Corporation and Waramaug Hospitality Asset Management.

 Cambridge Landmark purchased the asset free and clear of debt and unencumbered of management.  HFF was involved in a previous financing of this property in 2015 as part of a $110 million portfolio financing on seven full-service hotel assets in five states.

Located at 600 North Lake Destiny Road, the Sheraton Orlando North Hotel is at the intersection of Interstate 4 and Maitland Boulevard 3.1 miles from Winter Park and 8.3 miles from downtown Orlando.

The hotel is in the Maitland submarket proximate to 7.4 million square feet of office space and situated in the 226-acre Maitland Center Office Park, which is home to more than 400 businesses, including Worldwide Brands, Fidelity, FedEx and Charles Schwab. 

Preston Reid

The hotel features more than 15,000 square feet of meeting space; an outdoor pool with hot tub and resort-style water feature; fitness center; business center; on-site car rental services; Sheraton Club Lounge and several food and beverage outlets, An Tobar Irish pub-style restaurant Grande Café in the atrium lobby, Celestial Lounge and Link @ Sheraton Café. 

The new owners will invest $4 million to upgrade the rooms and common areas of the property.

The HFF investment sales team representing the seller was led by senior managing director Michael Weinberg and associate director Preston Reid.

“Orlando’s low supply growth over the past seven or eight years combined with unparalleled demand for room nights, including the 68 million visitors in 2016, have led to strong financial performance for most assets in our market,” Weinberg said.  “Like in this transaction, a number of the groups we have sold assets to or raised equity capital from over the past few years in Central Florida have been from oversees sources.  I see this trend continuing to grow due to the global awareness and connectivity of Orlando.”

HFF’s Hotel Team continues to be extremely active throughout the state of Florida, having closed 52 hotel-related transactions in the last 24 months, including Naples Grande Beach Resort, Sheraton Sand Key Resort, Sheraton Tampa Riverwalk Hotel, Hilton Key Largo and, locally in Central Florida, Embassy Suites Downtown Orlando, Hampton Inn Daytona Beach/Beachfront, Courtyard Lake Buena Vista and Holiday Inn Orlando SW – Celebration Area.

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

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.interstatehotels.com.

 www.linkedin.com/company/interstate-hotels-resorts,

 www.facebook.com/InterstateHotels

 www.interstatehotels.com/careers

 www.waramaughospitality.com

https://varde.com.

JLL brokers sale of Las Vegas luxury apartment community

  

Volare Apartment Homes, Las Vegas, NV

John Cunningham

LAS VEGAS, NV – JLL’s Capital Markets experts announced the company completed the sale of Volaré Apartment Homes, a garden-style 360-unit Class A apartment community in Las Vegas. JLL represented the seller, a joint venture between Fore Property Company, The Strand Corporation and DG Development Corporation. Green Leaf Capital Partners purchased the property.

Executive Vice Presidents John Cunningham and Charles Steele led the JLL team on the sale.

“Investors were drawn by the premier amenities Volaré offers as well as its accessibility to major employment centers,” said Cunningham. “Las Vegas continues to see a resurgence in the multifamily market, especially for high-end assets.”

Located just off Interstate 15, Volaré is six miles from the Las Vegas Strip. The area is home to a young, educated workforce with an average household income more than 15 percent higher than Metro Las Vegas’s. It’s also next to Southern Highlands, a 2,750-acre master-planned community.

Volaré includes studio, one-, two- and three-bedroom units. In-unit amenities include wood-plank flooring, fireplaces, storage units, stainless steel appliances, granite countertops and full-size washers and dryers. Community amenities include a restaurant-grade kitchen, two swimming pools, an outdoor lounge patio with a TV and a fireplace, and an outdoor kitchen.

Charles Steele

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 a sale, financing, repositioning, advisory or recapitalization execution.

In 2016 alone, JLL Capital Markets completed $136 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

JLL to Lease New Phoenix Industrial Project: Skyway Commons

Jeanine Jerkovic

PHOENIX, AZ – The Phoenix office of JLL has earned the leasing assignment for Phase I of Skyway Commons, a fully speculative new Class A industrial project that has broken ground in the northwest Phoenix submarket.

Totaling 110,221 square feet, Skyway Commons Phase I is designed to meet burgeoning demand from small to mid-sized general industrial users with divisibility down to 4,689 square feet and as much as 59,258 square feet of contiguous space.

JLL Vice President Riley Gilbert, Managing Director Anthony Lydon and Associate John Lydon serve as the project’s exclusive leasing brokers on behalf of the building owner, Thousand Oaks, California-based property owner Silagi Development and Management.

“Smaller to mid-sized industrial tenants in the northwest Valley have been significantly underserved for years,” said Gilbert. “Skyway Commons adds meaningful inventory options in a location that this type of user wants to be, and with grade-level and dock-level loading amenities that, until now, have not been available for them in Surprise.”

Riley Gilbert

According to JLL, while the northwest Phoenix submarket is the fourth smallest in the Valley, with only 10 million square feet of inventory, there are more than 1.4 million people within a 30-minute drive of the property.

“We’re delighted to welcome another Silagi Development and Management project to Surprise, and our team is looking forward to working with JLL to bring new businesses and jobs to the community,” said City of Surprise Economic Development Director Jeanine Jerkovic.

Skyway Commons is located on the northwest corner of Dysart Road and Rio Glass Solar Road in Surprise, Arizona.

Totaling 110,221 square feet, Phase I features grade- and dock-level loading, 24’ clear height, ESFR fire sprinklers, energy-efficient LED lighting and R-30 roof insulation. 

The project falls under a Planned Unit Development (PUD) zoning, which provides for greater flexibility for a wide range of tenants with commercial business park or industrial-related uses. Additional phases of Skyway Commons will have the capacity to accommodate users up to 140,000 square feet.

Phase I of Skyway Commons is scheduled to complete in January 2018. The general contractor is LGE.

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

 

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com