JLL arranges financing for Virginia Beach retail center

Cory Fowler

CHARLOTTE, NC, Sept. 11, 2019 – JLL announced today that it has arranged acquisition and renovation financing for Fairfield Shopping Center, a 243,031-square-foot, grocery-anchored retail center in Virginia Beach, Virginia.

JLL worked on behalf of the borrower, a partnership between Crosland Southeast and New Market Properties, to place the seven-year, floating-rate loan with BB&T Real Estate Funding. 

Anchored by Food Lion, TJ Maxx, and Rite Aid, the 87%-leased Fairfield Shopping Center is also home to a variety of service, retail and restaurant tenants, including Starbucks, Verizon, SunTrust Bank, Hardee’s, Five Guys and Moe’s Southwest Grill. 

Situated on 24 acres, the property is visible to approximately 55,000 vehicles a day at the intersection of Providence and Kempsville Roads. It is located within in the Hampton Roads MSA, a geographically expansive area stretching from Williamsburg and James City County to the northeastern corner of North Carolina and covers a diverse array of submarkets. 

Nearly 129,000 residents earning an average annual household income of $87,393 live within a three-mile radius of Fairfield Shopping Center.

The JLL Capital Markets team representing the borrower was led by Senior Director Cory Fowler.

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

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.

Contact: 

Kimberly Steele
JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email: Kimberly.Steele@am.jll.com

jll.com.

croslandsoutheast.com.

newmarketprop.com.

HSA Commercial Real Estate Signs 56,592-SF Lease with Aerospace Firm Safran Nacelles at Gateway V Development Near Indianapolis Airport

Gateway V distribution center, 845 Airtech Parkway, Plainfield, IN

  

CHICAGO, IL and INDIANAPOLIS, IN (Sept. 11, 2019) — Chicago-based HSA Commercial Real Estate today announced the firm has executed a 56,592-square-foot lease with Safran Nacelles Services Americas LLC (“Safran Nacelles”) at its Gateway V distribution center at 845 Airtech Parkway in Plainfield, Ind., near the Indianapolis International Airport. 

The Paris-based aerospace firm, which designs, integrates and ensures customer support and services for aircraft engine nacelle systems, entered into a 10-year lease and plans to take occupancy in December after relocating from a smaller facility in the market.

 Robert Smietana

The Safran Nacelles lease follows a separate 68,175-square-foot lease with LifeNet Health, a provider of transplant solutions. Executed in February 2019, it also has an initial term of 10 years.

“It’s rare to have industrial tenants sign 10-year leases as both LifeNet and Safran Nacelles have done at Gateway V,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. 

“That really speaks volumes about each corporation’s long-term commitment to the Indianapolis market and the value they place on the development’s strategic location.”

Developed on a speculative basis, the 262,758-square-foot Gateway V distribution center features 32-foot clear heights, 30 truck docks (expandable), four drive-in doors, 185 parking stalls and 70 trailer positions. With the LifeNet and Safran Nacelles leases, the facility is now approximately 50% leased, with 137,991 square feet remaining.

Terry E. Busch 

HSA Commercial Real Estate has recently developed six buildings totaling approximately 900,000 square feet at the Gateway Business Park – most recently, the 151,200-square-foot Gateway IV building, completed in July 2017 and currently fully leased.

Terry Busch and Jared Scaringe of CBRE represented ownership in the lease transaction, and Savills brokers Zak Mirkowski and Taylor Wood represented Safran Nacelles.

About HSA Commercial Real Estate:Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis.

Jared Scaringe

Along with developing and acquiring more than 100 million square feet of commercial real estate across the United States, with a total consideration in excess of $6 billion.

HSA Commercial Real Estate has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio in excess of 14 million square feet in locations across the nation; and owns more than 10 million square feet of commercial property throughout the country.

CONTACTS: 

Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523 

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

JLL arranges financing for mixed-use Salt Lake City-area center

Holladay Marketplace, a 22,151-square-foot, fully leased, mixed-use retail and office property in Holladay, UT

SALT LAKE CITY, UT, Sept. 10, 2019 – JLL announces that it has secured permanent financing for Holladay Marketplace, a 22,151-square-foot, fully leased, mixed-use retail and office property in the suburban Salt Lake City community of Holladay, Utah.

JLL worked on behalf of the borrower, Rockworth Companies, to secure the 15-year, sub-4.5%, non-recourse, fixed-rate loan with a national private debt fund. Loan proceeds will be used to repatriate owner equity on the recently constructed project that is already 100% leased.

Holladay Marketplace is part of the Holladay Village Square master-development, which was developed by the borrower in 2014 and awarded the 2018 Urban Design Utah Legacy Award for the thoughtful town center and plaza design. 

Featuring wood-frame construction with a brick, stucco and glazed-glass exterior, the two-story Holladay Marketplace is net leased to a diverse tenant mix that consists of four retail tenants on the main level and two office tenants on the second floor.

Located 10 miles south of downtown Salt Lake City, Holladay Marketplace is situated on 1.15 acres at 4667 South 2300 East in the heart of Holladay, one of Salt Lake City’s premier affluent submarkets. 

Mike White 

The property is in a highly coveted location within Salt Lake City’s Central East submarket and situated on a hard corner just south of the junction of Holladay’s two main thoroughfares, 4500 South and 2300 East. 

The property benefits from exposure from those two main streets as well as being surrounded by residential neighborhoods.

The JLL Capital Markets team representing the borrower was led by Managing Director Mike White

“The unique attribute of this loan was the long-term, 15-year, fixed-rate structure open to prepayment any time after the second year,” White said. “The prepayment fee was fixed at a nominal amount and was not yield or defeasance driven. 

"This offered both long-term interest-rate protection and the flexibility of an affordable prepayment option if desired by a subsequent purchaser in future years. The investment objectives of the owners were perfectly optimized by this highly-unusual feature.” 

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

Email: Kimberly.Steele@am.jll.com

rockworthco.com

 jll.com.

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 café, 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:
	Carrie Kerner Director – Hospitality & Lifestyle Division Phone: 305.206.0393 Address: 1666 Kennedy Causeway, Suite 703, Miami Beach, FL 33141 Web: www.taraink.com www.urbanicathehotels.com.

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 Facebook, Twitter and Instagram for updates

CONTACTS:

Megan Gasper/Sarah Ficek/Gianna Fontana

megan@heronagency.com

sarah@heronagency.com

gianna@heronagency.com

773.969.5200

www.heronagency.com

PR News Agency Elite Award Winner