Tuesday, September 10, 2019

Hotel Developer Urbanica The Hotels Expands Portfolio with $40 Million Acquisition of Last Undeveloped Beachfront Lot in North Beach, FL


 Charlie Porchetto (left) and Diego Colmenero 

MIAMI BEACH, FL —  Urbanica The Hotels’ young and thriving founders Diego Colmenero and Charlie Porchetto, have announced their latest acquisition of a $40 million undeveloped beachfront lot in North Beach, located at 6747 Collins Avenue

They purchased the 0.98-acre property from China City Construction (CCC) on Tuesday, August 27, with imminent plans to develop a 20-story, 200-room lifestyle hotel.

Slated to open in approximately two years, it will boast a signature restaurant helmed by the brand’s world renown partner, Chef Fernando Trocca; a swanky indoor bar, pool bar and unparalleled beach service, to name a few.

Chef Fernando Trocca
This slice of paradise was the last undeveloped beachfront lot in North Beach, located between the Deauville Beach Resort and Sterling Condominium buildings on Collins Avenue.

“We are eager to bring fresh new amenities and our distinct hospitality to this area,” says Colmenero. “Urbanica currently employs 200 people, and with our latest acquisitions we have aggressive plans to double our staff and bring new job opportunities to this community soon.”

The Meridian, 418 Meridian Avenue, Miami Beach, FL
Urbanica has been quickly expanding its portfolio in Miami since 2016.  The founders have a strong focus on the cultivation of its culinary offerings thanks to its executive chef partner Trocca, who they have enlisted to spearhead the development of the brand’s food & beverage projects.

“Urbanica was born out of an earnest desire to bring something new and different to the hospitality landscape,” says Porchetto. “Our mission is to make first-rate hospitality experiences accessible to everyone, with a keen focus on each individual guest.

Kaskades Hotel, 300 17th Street, Miami Beach, FL
"That’s why our team is constantly seeking new opportunities to fuse together the best in design, food, nightlife, location, and personalized guest experiences at a reasonable rate. This year has already been crucial for our brand, and we can finally see our mission put into action,” he adds.  
                                                            
After the success of The Meridian, an impeccably reimagined historic 1930s Art Deco hotel at 418 Meridian Avenue that houses a 71-room property, Regina’s Grocery, an Italian deli offering a New York-centric menu, and Minibar, an uber-chic speakeasy;

 Urbanica The Hotels is creating its own hospitality district in Miami Beach’s exclusive South of Fifth neighborhood with three more hotels. The elegantly remodeled pre-war Kaskades Hotel on 300 17th Street opened this summer, and is managed by Urbanica as an independent operation.

The Euclid Hotel, 426 Euclid Avenue, Miami Beach, FL
The boutique property boasts the brand’s signature contemporary cafĂ©, the Food Marchand, and by this fall, guests and locals will be able to enjoy fun barbeques and live music at the property’s inviting rooftop. 

The Euclid Hotel, located at 426 Avenue, is slated to open this October with 30 guestrooms and Orilla Bar and Grill, a culinary creation by the company’s executive chef Trocca, which will offer a full menu of South American and European inspired cuisine. 

The Fifth, on 803 Fifth Street, is slated to open in mid 2020 with 52 guestrooms, on-site parking, a pool and quaint restaurant.

The Fifth,  803 Fifth Street, Miami Beach, FL
The company’s expansion plans in Miami don’t stop there. The Biscayne, located at 3200 Biscayne Boulevard in the burgeoning Edgewater area, is scheduled to open in late 2020.

The hotel will boast breathtaking views of the bay and city, 200 guestrooms, parking, approximately 5,000 square-feet of retail space on the ground floor, and an expansive rooftop pool, restaurant, bar and game room.

The entertainment room located on the 20th floor will feature numerous activations each month, such as live music, art shows and parties with world-renowned DJs.

The Biscayne, 3200 Biscayne Boulevard, Miami, FL
Urbanica is expanding its portfolio to have unique propositions in different locations for its distinct audiences. Even though the brand is growing quickly, the company always keeps in mind its mission and ethos.

“We see Miami as the world’s next great metropolis, and our goal is to enrich the lives of both visitors and locals,” said Colmenero and Porchetto. “We have been visiting Miami since our childhoods and are drawn to city’s multi-cultural energy, scenic vistas and cool vibe.

"Our goal is to create warm, friendly and attentive environments in Miami’s hippest neighborhoods, where our guests feel immediately at home.”




CONTACT:

logo-agency@2x
Carrie Kerner
Director – Hospitality & Lifestyle Division
Phone: 305.206.0393
Address: 1666 Kennedy Causeway, Suite 703, Miami Beach, FL 33141

Kaley Cuoco’s Tarzana House Listed for $4.8 Million

Kaley Cuoco’s 7,977-square-foot house 
in the Tarzana neighborhood 
of Los Angeles, CA
Photo credit: Keller Williams   Source: www.stephanievitacco.com
LOS ANGELES, CA -- Since The Big Bang Theory came to a close in May, Kaley Cuoco and her husband, equestrian Karl Cook, are busy building their dream home, so she has put her Tarzana-neighborhood home in Los Angeles on the market at $4.895 million, according to
TopTenRealEstateDeals.com.

Kaley Cuoco 
Cuoco bought the house from Lamar Odom and Khloe Kardashian in 2014.
Behind a gated entrance in a small enclave of similarly elegant homes, the 7,977-square-foot house is spread across its three-quarter-acre lot with a large car park for guests in front and pool with generous patio for entertaining in the rear of the property. 


Karl Cook
The entrance opens into a grand, two-story foyer with curved staircase and starburst chandelier. 

Included are the living room with a whimsical swing settee suspended from the ceiling and a contemporary formal dining room. 


Lamar Odom
Sized for a large family and guests, there are six ensuite bedrooms plus three additional baths. The master has a fireplace, three huge walk-in closets and French doors that open to the terrace. 

The large laundry room has two washing machines and two dryers with ample storage for the size of the house. The kitchen is stocked with high-end appliances and has an island, breakfast area and bar, which opens to the family room.


Khloe Kardashian
The home is made extremely private by the mature thick hedges and trees that follow the property line from the entrance gate to encircle the entire property.

Outdoor space is ideal for entertaining with multiple shaded seating areas, a full-covered outdoor kitchen with bar seating, pool, spa and fire pit.

Stephanie Vitacco
Currently Cuoco has created and is starring in a new HBO Max series, The Flight Attendant, for which she will also act as executive producer.
A huge fan favorite for her roles in 8 Simple Rules, Charmed, and, of course, 12 seasons of The Big Bang Theory, Cuoco is following her dreams of becoming a producer.
 The listing agent is Stephanie Vitacco of Keller Williams, Encino-Sherman Oaks.

CONTACT:
Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

JLL closes sale of Buck’s County Grocery-anchored retail center in Bensalem, PA


 Suresh Kagithapu

PHILADELPHIA, PA, Sept. 9, 2019 – JLL announced today that it has closed the sale of Bensalem Square, a 70,378-square-foot, grocery-anchored retail center in the Philadelphia-area community of Bensalem, Pennsylvania.

JLL marketed the property on behalf of the seller, Brixmor Property Group. LS Property Investment purchased the asset.



Bensalem Square is fully occupied by a roster of mostly e-commerce-resistant regional restaurant, service and medical tenants anchored by a high-performing Redner’s Markets grocery store. 



Harish Koya
Situated on 12.25 acres at 2506 Knights Road, the center is within a major retail corridor and proximate to the Philadelphia border. 

Bensalem Square is positioned within the highly populated Bucks County market, which boasts a population of nearly 18,500 residents within a one-mile radius and more than 109,000 within a three-mile radius of the property.


Redner's at Bensalem Square Shopping Center
“This is the fifth commercial shopping enter for us at LS Property Investments and the third retail center anchored by a Redner’s Markets,” said CEO Suresh Kagithapu, who purchased the center along with major partner Harish Koya and investment partners Srinivas Adda, Siva Pola, Eswara Janjanam and Nagasekhar Anumalasetty.

 “Bensalem Square is an excellent addition to our investment portfolio that also includes the Sinking Spring Shopping Center near Reading, Cherry Square Shopping Center near Allentown and the Stowe Crossing Stripmall near Pottstown.”


Srinivas Adda

The JLL Capital Markets team representing the seller was led by Managing Director Chris Munley, Managing Director James Galbally and Senior Vice President Colin Behr.

“Infill, grocery-anchored retail continues to be in-demand within the asset class,” Munley said. “We have seen our offer counts increase across the board for all retail product in 2019, with a significant spike within this category specifically. 

"The positive net increase in investor interest is indicative of where current pricing metrics are coming in.”


 Siva Pola
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.


Nagasekhar Anumalasetty
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, Inc.

About Brixmor Property Group

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers.


Its 422 retail centers comprise approximately 73 million square feet of prime retail space in established trade areas.  The company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. 




Chris Munley
Brixmor is a proud real estate partner to more than 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets, Wal-Mart, Ross Stores and L.A. Fitness.  

For more information, visit brixmor.com.

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. 


James Galbally
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, please visit jll.com.







Contact:

 Kimberly Steele, JLL Digital Content/PR Specialist
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com

The Apartments at Lincoln Common in Chicago, IL Announce Official Move-Ins


Carly Stevenson

CHICAGO, IL – The Apartments at Lincoln Common, newly constructed at 2345 N. Lincoln Avenue, Chicago, had its first residents move in  April 1, 2019. 

Located at the new crossroads of Lincoln Park at the intersection of Lincoln Avenue, Fullerton Avenue and Halsted Street, The Apartments at Lincoln Common offer 538 studio, one-, two- and three-bedroom rental residences and penthouses across two separate towers designed by Skidmore, Owings and Merrill in partnership with Antunovich Associates. 

More than 200 tours have been conducted of The Apartments at Lincoln Common since leasing began in February.

“We are thrilled to welcome our first residents to The Apartments at Lincoln Common,” said Carly Stevenson McCaffery Senior Director of Residential Management. “These amazing amenity-packed towers combined with this dynamic neighborhood will provide an unparalleled living experience in the heart of Chicago.”

 For more information, please visit www.lincolncommon.com.

Follow Lincoln Common on FacebookTwitter and Instagram for updates


CONTACTS:

Megan Gasper/Sarah Ficek/Gianna Fontana
773.969.5200

PR News Agency Elite Award Winner

Monday, September 9, 2019

JLL sells fully occupied industrial building in Tempe, AZ for $16.20 million

Distribution facility, Tempe, AZ


PHOENIX, AZ, Sept. 9, 2019 – Demand for last-mile facilities has garnered the Phoenix office of JLL a $16.20 million sale price ($127 price-per-square-foot) for a Tempe, Arizona infill industrial building that is fully leased by the world’s largest express transportation company.

 
Tivon Moffitt 
JLL Senior Vice Presidents Tivon Moffitt and Peter Bauman, and Executive Vice President Steve Larsen, represented the building seller, MRM Tempe LLC. The buyer was an out-of-state partnership involved in a 1031 exchange.

Located at 8210 S. Hardy Dr. – less than one mile east of Interstate 10 – the 128,000-square-foot building was constructed in the late 1990s as a built-to-suit project. It has remained 100 percent occupied by the same company since delivery.

“Strategic importance as a last-mile facility, combined with recent building improvements, historical occupancy and a prime infill location were all significant drivers for the economics of this transaction,” said Moffitt.

“Last mile facilities remain in high demand,” added Bauman. “We continue to see cap rate compression for functional real estate, strong credit and long-term leases.”

Peter Bauman
According to JLL, strong and steady absorption has dropped the Valley’s industrial vacancy rate to a 10-year low of 6.7 percent. 

The Southeast Valley led that absorption during the second quarter as demand continues to rise for supply chain and e-commerce facilities.

“Data supports what we see on the ground, which is that the overall Phoenix industrial market continues to see strong absorption and rapid rent growth,” said Larsen. “That is especially true for in-demand markets like the Southeast Valley and infill locations like this Tempe facility.”



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.

Steve Larsen
 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.

In Phoenix, JLL is a market leader employing more than 590 of the region’s most recognized industry experts offering office, industrial, retail, healthcare and data center brokerage, tenant representation, facility and investment management, capital markets, multifamily investments and development services, and related services within the real estate leasing, investment and management process.

 In 2018, the Phoenix team completed 75.3 million square feet in lease and sale transactions valued at $2.2 billion, directed $120 million in project management and currently manages a 32.4 million-square-foot portfolio. For more news, videos and research resources on JLL, please visit www.jll.com.

Contact:

 Stacey Hershauer
Phone: +1 480 600 0195


JLL closes sale of nine-property multi-state retail portfolio in Indiana, Michigan, Ohio and West Virginia


Amy Sands

CHICAGO, IL, Sept. 9, 2019 JLL announced today that it has closed the sale of portfolio comprising nine retail centers totaling 758,983 square feet in Indiana, Michigan, Ohio and West Virginia.

Clinton Mitchell
JLL represented the seller, ShopOne Centers REIT, a leading owner, operator and manager of high-quality grocery-anchored shopping centers. Albanese Cormier Holdings purchased the portfolio in an off-market transaction.

The nine properties include two Indiana properties, Forest Park Plaza in Brazil and Pine Lake Shopping Center in LaPorte. 

The five Ohio properties are Amberwood Center in Ashland; Barberton Shopping Center in Barberton; DeVeaux Village Shopping Center and Reynolds Plaza in Toledo; and Perrysburg Market Place in Perrysburg. 

Additionally, there is one Michigan property, Phoenix Square in South Haven, and one West Virginia property, Huntington Mall in Barboursville.

The portfolio is 92% leased primarily to national tenants like Kroger, Giant Eagle, Anytime Fitness, Michaels, Dollar Tree, Ollie’s Bargain and more. 

The sale represents an expansion for the buyer into Michigan, Ohio and West Virginia, having already established a strong presence in Indiana.

The JLL Capital Markets team that represented the seller included Managing Directors Clinton Mitchell and Amy Sands along with Senior Managing Directors Frederick Whitman and Kenneth Martin and Managing Director Bill Poffenberger.

Bill Poffenberger
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.



Contact: 

Kimberly Steele,
JLL Digital Content/PR Specialist
Phone: +1 713 852 3420

Regal | Christie’s International Real Estate Opens New Lake Mary, FL Gallery – Its Fifth Central Florida Location


Joyce Marsh
LAKE MARY, FL –  Regal | Christie’s International Real Estate specializing in luxury home sales has opened a fifth Central Florida location in a high-end building at 171 International Parkway Suite 1711 in Heathrow. 

The brokerage’s rapid growth and success of their other locations prompted Broker/Owner Chris Christensen to open the additional gallery that will serve the Seminole, Volusia and North Orlando areas.  

Chris Christensen
Veteran real estate professional Mel Bernstein is a partner in the new Lake Mary office.

Regal | Christie’s International Real Estate is revolutionizing the way people buy and sell properties," said Joyce Marsh, Regional Manager. 

  "Our new Property Gallery in Lake Mary was designed to create a relaxed atmosphere where visitors can enjoy a complete gourmet coffee menu while browsing exquisite properties in a casual lounge setting.”

Mel Bernstein
The only Central Florida affiliate for the Christie’s International Real Estate worldwide luxury brand has similar galleries on Sand Lake Road in Dr. Phillips, in Celebration, Clermont and Winter Park . 

Marsh adds, “Our homes are displayed in stunning high definition video in front of thousands of local potential buyers, and international visitors that dine and shop in Dr. Phillips, Winter Park, Celebration, Clermont, and now Lake Mary .  This is a truly unique offering for our sellers.”



 Regal | Christie’s International Real Estate's
 fifth Central Florida location in a high-end building
 at 
171 International Parkway,  Suite 1711
Heathrow, FL 

"Exciting things are happening in the real estate industry and Regal | Christie's International Real Estate is committed to being on the cutting edge of the changes in the marketplace,” Marsh said.

 CONTACTS:

Joyce Marsh, Regional Manager/Broker
 Regal | Christie’s International Real Estate

Chris Christensen, Broker/Owner
 Regal | Christie’s International Real Estate

Beth Payan, Larry Vershel Communications Inc.
407-644-4142 or 407-461-3781 beth@larryvershel.com