Frank Lloyd Wright’s Final Home in Phoenix, AZ Headed for Auction

Frank Lloyd Wright’s Circular Sun House, also known as the Norman Lykes House, was the last home design he worked on before he died in 1959.

                                                                              Photo by Craig Root

  

                            Frank Lloyd Wright

PHOENIX, AZ -- Sixty years after his death, Frank Lloyd Wright’s Circular Sun House, also known as the Norman Lykes House, was the last home design he worked on before he died in 1959, according to
TopTenRealEstateDeals.com.

John Rattenbury

Built in 1967 and later restored in 1994 by his apprentice John Rattenbury, the 3,095-square-foot, three-bedroom, three-bath contemporary house is located in Phoenix on 1.3 acres on the edge of the Phoenix Mountains Preserve.

Retired Justice Sandra Day O’Connor

 It will go to auction on October 16 with no reserve. Wright designed over 1,000 structures during his 73-year career including many of America’s most famous buildings such as Fallingwater, the Guggenheim Museum and the Johnson Wax Headquarters.

Emma Stone

Wright had been working with Mr. Rattenbury on the Lykes House sketches and had chosen the building site and designed the furniture and built-ins for the home when he became ill and died at age 91.

Michael Phelps

Having come full circle from his start in Prairie style, to textile block, to organic and, towards the end, the functional Usonian for the masses, his last designs showed a new interest in circles and curves as he created buildings in the round such as the Guggenheim in New York City and a home he built for his son, the David and Gladys Wright home, also in Phoenix.

Alicia Keys

Registered with the Frank Lloyd Wright Building Conservancy, the home includes Wright’s signature large living room fireplace intended to bring families and friends together, a lower-level media room, two home offices with built-ins of desk, cabinet storage and walls of shelving, and a distinctive curved kitchen with the best appliances of the day.

Alice Cooper

 Wright designed rolling-island and unique under-cabinet windows and timeless stainless-steel counters, contemporary-tiled large baths, and a privacy-walled crescent pool with mother-of-pearl tiles and patio viewed from inside through glass walls.

Steven Spielberg

There is also a separate upstairs round office with all built-in furnishings in Philippine mahogany, as are all the home’s built-ins, and is encircled by half-moon windows.

David and Gladys Wright house in Phoenix, AZ designed by Frank Lloyd Wright for his son and daughter-in-law

Views of the city, valley and mountains can be seen from almost every room and if the Phoenix Lights return, the Lykes House will have a commanding view.

Guggenheim Museum, Bilbao, Spain

Conveying in the sale will be the added bonus of Wright’s mid-century modern furniture including small stools, table, night stands and end tables.

 Johnson Wax Headquarters, Racine, Wisconsin

Phoenix and its Paradise Valley have been a home for the rich and famous in all walks of life including retired Supreme Court Justice Sandra Day O’Connor, actress Emma Stone who grew up there, history’s most-decorated Olympian, Michael Phelps, singer Alicia Keys who just bought the Razor House in La Jolla, California, musician Alice Cooper and filmmaker Steven Spielberg.

The auction will be held at the property by auctioneers Heritage Auctions.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

JLL closes sale of retail center in Aiken, SC

Margaret Caldwell

 ATLANTA, GA – JLL announced  it has closed the sale of Hitchcock Plaza, a 252,311-square-foot, 88.7%-leased, dominant retail center in Aiken, South Carolina.

 Hitchcock Plaza is the premier shopping center in Aiken and home to 19 national and regional tenants, including an anchor line-up of national and credit-worthy tenants such as Ross Dress for Less, TJ.Maxx, Bed Bath & Beyond, Academy Sports, Old Navy and Petco. 

The sale includes a .85-acre outparcel development site that could be used to expand the center. 

Situated on 24.04 acres at 427 Fabian Drive, the property is in a dominant retail hub in Aiken. 

Margret Jones

More than 30,000 residents earning an average annual household income of more than $92,000 live within a three-mile radius of the property, but Hitchcock Plaza’s nearest competition is at least 25 miles away in Augusta, so the property serves an extended trade area.

 Additionally, the property is at the highly trafficked intersection of Whiskey, Pine Log and Silver Bluff Roads, which results in visibility to approximately 68,500 vehicles per day.

The JLL Capital Markets team representing the seller was led by Managing Director Margaret Caldwell, now with Arden Capital Advisors, and Vice President Margret Jones.

One of several national retailers at Hitchcock Plaza retail center, Aiken, SC

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

Email: Kimberly.Steele@am.jll.com

 jll.com

JLL closes sale and financing of Courtyard Portland Clackamas Hotel

136-Room Courtyard Portland Clackamas, Clackamas, OR

Scott Hall 

SAN DIEGO,  CA  – JLL announced  it has closed the sale and financing of Courtyard Portland Clackamas, a 136-room hotel in the Clackamas, Oregon.

JLL represented the institutional seller, and procured the buyer, McMillin, LLC.  Additionally, JLL worked on behalf of the buyer to secure the 10-year, fixed-rate acquisition loan through an insurance company lender.   

The Courtyard Portland Clackamas is located at 9300 SE Sunnybrook Boulevard approximately 11 miles southeast of Downtown Portland. 

 The select-service hotel is positioned along the western edge of Interstate 206 and Sunnybrook Boulevard, one of the city’s main arteries, and benefits from its proximity to multiple demand generators, including the Kaiser Permanent Sunnyside Medical Center, Clackamas Town Center and Camp Withycombe, which serves as one of the National Guard’s largest training facilities. 

Tim Wright

Renovated in 2016, the property consists of one four-story building with 136 rooms and suites.  

Hotel amenities include three meetings rooms, an on-site Bistro, indoor swimming pool and whirlpool, fitness center, business center, a 24-hour sundry shop and a boarding pass station. 

The JLL team was led by Senior Managing Directors Scott Hall and Tim Wright, Managing Director Casey Davidson, Senior Director Nick Kassab and Associates Aaron Lapping and Blake Malecha.

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

Casey Davidson

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 McMillin, LLC

Founded in 1960, McMillin has more than 50 years of successful real estate investments, including land development of 16 mixed-use master-planned communities, 30,000 homes, 20 community parks, in addition to schools, shopping centers, commercial office real estate and more. 

McMillin, LLC is the third-generation predecessor company of McMillin Companies led by principals Scott and Andy McMillin who have reimagined the company’s brand, vision and project motives going into the 21^st century.  

Nick Kassab

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. 

Contact:

 Kristen Murphy

 JLL Director, Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

mcmillin.com 

 jll.com

JLL closes $116.13 million sale of Portland, OR high-rise apartment community

Riva on the Park apartments, 
South Waterfront neighborhood, Portland, OR
Photo by Red Studio Inc.

PORTLAND, OR – JLL announced it has closed the $116.13 million sale of Riva on the Park, on behalf of Barings, one of the world’s largest diversified real estate investment managers. 

The property is a 294-unit, transit-oriented residential high-rise prominently located adjacent to the Oregon Health & Science University (“OHSU”) in Portland’s South Waterfront neighborhood.

JLL represented the seller, Barings, on behalf of institutional investors, and procured the buyer, Griffis Residential. The property was acquired free and clear of existing financing.

In addition to its proximity to OHSU, which is undergoing a 1.1 million-square-foot expansion, Riva on the Park is located within steps of the Portland Streetcar, MAX Light Rail and the Portland Aerial Tram.

Carrie Kahn

 The 22-story, LEED Gold-certified property consists of 294 residential units averaging 811 square feet and more than 13,000 square feet of ground-floor retail. 

Apartment amenities include granite countertops and plank flooring in kitchens; oversized, energy-efficient windows; full-size washers and dryers; central heat and air conditioning; decks or patios; and stunning city and river views. 

Common area amenities include a lobby with fireside lounge, eco-terrace with grills, 24-hour fitness center and concierge services.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, an Oregon-licensed real estate salesperson, and Senior Director Carrie Kahn.

Ira Virden

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.

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.

 

Contacts: 

Olivia Hennessey

 JLL Public Relations Specialist

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

 Rachel White, Barings Media Relations

Phone: +1 980 417 5886

Email: Rachel.white@barings.com

griffisresidential.com.

JLL closes $141 million sale of Atley on the Greenway in Northern Virginia

 Atley on the Greenway, a 496-unit, transit-oriented apartment community in the Washington, D.C.-area  of Ashburn, VA

WASHINGTON D.C., Sept. 25, 2019 – JLL announced it has closed the $141 million sale of Atley on the Greenway, a 496-unit, transit-oriented apartment community in the Washington, D.C.-area community of Ashburn, Virginia.

JLL marketed the property on behalf of the seller, Northwestern Mutual, and procured the buyer, Fairfield Residential. The property was acquired free and clear of existing financing.

Walter Coker 

Atley on the Greenway is located at 21827 High Rock Terrace in Northern Virginia’s affluent and amenity-rich Loudoun County submarket. 

Completed in 2014, the property benefits from visibility along the Dulles Greenway (Route 267) and is less than a mile from the new Ashburn Metro Station (Silver Line). 

The property features a variety of one-, two- and three-bedroom units averaging 1,001 square feet, 40 of which are designated as affordable. 

Community amenities include two swimming pools, an outdoor fireside lounge, poolside barbecue and picnic areas, children’s playground, 24-hour fitness center, multi-station business center, and an indoor social lounge with fireplace, TV lounge, gourmet demonstration kitchen and dining area. 

Brian Crivella

Since completion, the property has experienced an occupancy rate above 96%.

The JLL Capital Markets team representing the seller included Walter Coker and Brian Crivella.

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:

 Olivia Hennessey

 JLL Public Relations Specialist

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

 https://realestate.northwesternmutual.com/

JLL closes approximately $104.6 million sale of 950 L’Enfant Plaza in Washington, D.C.

950 L’Enfant Plaza, designed by I.M. Pei, is 315,726-square-foot office building overlooking the Southwest Waterfront in Washington, D.C.

Matt Nicholson

WASHINGTON, D.C. – JLL announced it has closed the approximately $104.6 million sale of 950 L’Enfant Plaza, a 315,726-square-foot office building overlooking the Southwest Waterfront in Washington, D.C.

JLL marketed the property on behalf of the seller, Normandy Real Estate Partners. 

Designed by world-renowned architect I.M. Pei, 950 L’Enfant Plaza is a nine-story office building that is currently 86% leased to four GSA tenants. 

 The property is situated within the larger 2.5 million-square-foot L’Enfant Plaza mixed-use complex that is also home to the International Spy Museum, the Hilton Washington D.C. National Mall and more than 120,000 square feet of retail. 

Jim Meisel

 As the southernmost building in the complex, 950 L’Enfant overlooks the Southwest Waterfront with unobstructed views of Hain’s Point, Ronald Reagan National Airport, National Landing and District Wharf, a transformative 3.2 million-square-foot development.  

Additionally, 950 L’Enfant Plaza has direct connectivity to the L’Enfant Plaza Metrorail Station, offering tenants access to five of the six Metrorail lines, and is just two blocks from the Virginia Railway Express Station, linking the property to the Virginia suburbs via two rail lines. 

The JLL Capital Markets team representing the seller was led by Matt Nicholson, Jim Meisel, Andrew Weir, Stephen Conley, and Dave Baker.

 Andrew Weir

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.

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.

 Stephen Conley

About Normandy Real Estate Partners

Normandy Real Estate Partners is a leading real estate investment management firm and operator with offices in New York City, Boston, Washington, D.C. and New Jersey with a track record spanning 20 years. 

The firm is a vertically-integrated investment and operating platform with a total of 120 employees with broad real estate experience in areas such as acquisitions, investment management, leasing, property management, construction/development and accounting.

Normandy’s management platform is focused on two complementary investment strategies: i) value-add: a series of closed-end, fully-discretionary investment funds, backed by some of the world’s most prestigious institutional investors; and ii) core-plus: a series of separately-managed accounts for domestic and foreign institutional investors. 

David Baker

Normandy currently manages approximately $1.5 billion of equity capital, representing total asset value of $3.3 billion.

 For more information visit normandyrealty.com.

Contact:

 Kristen Murphy

 JLL Director

 Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com