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| Hacienda del Prado,17 Crest Road, East Rolling Hills, CA |
|
Creative Director
Thursday, June 11, 2020
Chhabria Real Estate Co. Introduces Newly Constructed Luxury Home in Exclusive Rolling Hills, CA Community
JLL closes $2.18 milion sale on newly constructed Starbucks prototype building in Chicago Ridge, IL
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| New, single-tenant, net-leased, 2,400-square-foot retail building occupied by Starbucks in the Chicago suburb of Chicago Ridge, IL |
CHICAGO, 11 – JLL Capital
Markets announced it has closed the $2.18 million sale of a new, single-tenant,
net-leased, 2,400-square-foot retail building occupied by Starbucks in
the Chicago suburb of Chicago Ridge, Illinois.
JLL marketed the property on behalf of the seller, Glazier
Corporation. An undisclosed investor purchased the asset.
The property is occupied by investment-grade tenant Starbucks
Corporation (NASDAQ: SBUX), which is the world’s largest coffee house chain and
has more than 30,000 locations in 70 countries.
 |
| Alex Sharrin |
Completed in 2020, the building is a Starbucks
prototype with a drive-thru and patio.
The property is situated on 9.59 acres
at 10259 S. Harlem Ave. in Chicago Ridge, which is about 15 miles southwest of
downtown Chicago.
The building is at the highly trafficked
intersection of South Harlem Avenue and 103rd Street, which makes it visible to
more than 53,000 vehicles per day.
The
property is also within a trade area that welcomes 6.9 million visitors
annually and a dense trade population of more than 800,000.
The JLL Net Lease Capital Markets team representing the seller was
led by Managing Director Alex Sharrin.
“Net-leased
assets with drive-thrus leased to strong credit remain attractive in the
marketplace,” Sharrin said.
For more news, videos and research resources on JLL, please visit
the firm’s U.S. media center Web page: U.S. newsroom.
CONTACT:
Kristen Murphy
Senior Manager
Public Relations
JLL Capital Markets
One Post Office Square, Suite 3500
Boston, MA 02109
T +1 617 848 1572
M +1 617 543 4873
Wednesday, June 10, 2020
Arbor Funds $13.9 Million in Fannie Mae Small Loans Across the Nation
 |
| Geoffrey Platt |
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| The College Crest, LaBoiteaux and Hillcrest Apartments Cincinnati, OH |
Geoffrey Platt of Arbor’s New
York City office originated the loans.
“These transactions highlight Arbor’s
steadfast commitment to providing successful outcomes for our financial
partners,” Platt said.
 |
| Pinebrook Apartments, Florence, AL |
Built in 2019, Taylor Row Apartments in Punta Gorda, FL,
received $1.2M in refinancing though the Fannie Mae Small Loan program.
The
16-unit upscale property features studio, one- and two-bedroom floorplans with
granite countertops and stainless steel appliances, and is within walking
distance of downtown Punta Gorda.
 |
| 13628 Pennsylvania Avenue Hagerstown, MD |
Girard Court Apartments in Killen, TX, received
$1.3M in refinancing through the Fannie Mae DUS® program. The
one-story furnished property was built in 2006.
It features 24-units with
hardwood floors, built-in bookcases, vaulted ceilings and French doors.
The
complex is conveniently located with major highways, parks and local dining
nearby.
Pinebrook Apartments in Florence, AL,
received $2.4M in refinancing through the Fannie Mae Small Loan program. The
41-unit multifamily property was built in 2008 and is a short distance from the
UNA Planetarium & Observatory.
 |
| Arbor Court Apartments Idaho Falls, ID |
13628 Pennsylvania Ave. in Hagerstown, MD,
received $1.1M in acquisition funding through the Fannie Mae Small
Loan program.
Built in 2012, the mixed-use, multifamily property is within
walking distance of retail shopping and restaurants.
Arbor Court Apartments in Idaho Falls, ID,
received $1.9M in refinancing through the Fannie Mae Small Loan program. The
six-unit, two-story property was built in 1953 and features a playground,
laundry facility and onsite parking. It is within close proximity to parks and
retail shopping.
The College Crest, LaBoiteaux and Hillcrest Apartments in
Cincinnati, OH, received $3.7M in acquisition
funding through the Fannie Mae Small Loan program. The multifamily garden-style
properties include six buildings and 103-residential units.
The Bournemouth Apartments in Harper Woods, MI,
received $2.3M in refinancing through the Fannie Mae Small Loan program. The
two-story, 48-unit multifamily complex is conveniently located with shopping
and dining nearby.
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| Bournemouth Apartments Harper Woods, MI |
About Us
Arbor Realty Trust,
Inc. (NYSE:ABR)
is a nationwide real estate investment trust and direct lender, providing loan
origination and servicing for multifamily, single-family rental (SFR)
portfolios, seniors housing, healthcare and other diverse commercial real
estate assets.
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| Taylor Row Apartments Punta Gorda, FL |
Headquartered
in Uniondale, New York, Arbor manages a multibillion-dollar servicing
portfolio, specializing in government-sponsored enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer.
Arbor’s
product platform also includes CMBS, bridge, mezzanine and preferred equity loans.
Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to
building on its reputation for service, quality and customized solutions with
an unparalleled dedication to providing our clients excellence over the entire
life of a loan.
Tel: 516.506.4229
JLL arranges $33.8 million construction financing for spec office development in Burlingame, CA
 |
| 250 California, a 44,605-SF office property in Burlingame, CA |
SAN FRANCISCO, CA, June 10, 2020 – JLL Capital Markets
announced today that it has arranged $33.8 million in construction financing
after arranging a joint venture equity partnership for the speculative
development of 250 California, a 44,605-square-foot office
property in Burlingame, California.
JLL worked exclusively on behalf of Dewey Land Company and
DivcoWest to capitalize the project through a joint venture partnership and
construction loan.
 |
| Jordan Angel |
Due
for completion in 2022, 250 California will feature four stories of
best-in-class office space, ground-floor retail and a three-level subterranean
parking facility.
The transit-oriented building has a premier location in downtown Burlingame immediately adjacent to the Burlingame Caltrain station and just minutes away from Highway 101 and State Routes 82 and 92.
Additionally, 250 California is surrounded by a
rich amenity base of restaurants and retailers and has direct access to the
executive housing corridor off of Interstate 280 that includes Hillsborough,
Woodside, Portola Valley and Los Altos Hills.
The JLL Capital Markets team representing the borrower was led by
Managing Directors Jordan Angel and Chris Gandy.
”250 California represents an extraordinary opportunity to work
with two of the best developers in the Bay Area to bring to market an incredibly
located building that will provide an unparalleled office experience for high
end tenants in downtown Burlingame,” Angel said.
 |
| Chris Gandy |
For more news, videos and research resources on JLL, please visit
the firm’s U.S. media center Web page: U.S. newsroom.
Jones Lang LaSalle Americas, Inc. (“JLL”) is a real estate broker
licensed with the California Department of Real Estate, license #01223413.
Jordan
Angel,
JLL
Managing Director
CA Lic.: #01223413
Phone: +1 415 276 6300
Email: Jordan.Angel@am.jll.com
Kristen Murphy,
JLL
Senior Manager
Public
Relations
Phone: +1 617 848 1572
MCA Realty Renovates and Sells Multi-Tenant Industrial Asset in North San Diego County for $8.25 Million
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| Pinnacle Business Park consists of two-buildings with a total of 13 individual units and is located at 2750 Auto Park Way in Escondido, CA |
 |
| Tyler Mattox |
Escondido, CA, June 10, 2020 – MCA
Realty, a full service real estate investment and
management company based in Orange County, California, has recently sold a
40,968 square-foot multi-tenant industrial asset in the North San Diego
submarket of Escondido, California.
The property
was sold to Providence Capital Group, a San Diego-based owner and investor, for
$8.25 million.
MCA Realty acquired the property in November 2018 for $5.9
million, and completed strategic interior and exterior renovations to increase
the income profile of the asset.
 |
| Tucker Hohenstein |
MCA acquired the two building, 13 suite
project, at 80% occupancy with in-place rents approximately 25% below market
rates. MCA’s renovation program allowed the Project to increase in-place rents
to market rates and lease-up vacant space.
“MCA’s focus is on identifying well-located properties with
value-add potential, and then executing on our business plan to best position
the asset” says Tyler Mattox, Principal at MCA Realty.
“As a result, in a very short period of time
we were able to attract a buyer looking for a stabilized multi-tenant
industrial project with long-term growth potential, and realize a strong return
on investment for our investors.”
 |
| Michael Kendall |
The asset is located in one of the tightest industrial submarkets
in North County San Diego with market vacancy at the time of sale around 3%.
“The asset’s location in a strong industrial
submarket made it attractive to potential buyers,” explains Mattox.
“Escondido continues to attract a variety of
companies, many of whom are seeking quality value alternatives to other San
Diego County submarkets to the south.
"We
strategically positioned the asset to fit this market, which ultimately created
a property that was attractive to buyers.”
 |
| Conor Boyle |
Tucker
Hohenstein, Michael Kendall and Conor Boyle with Colliers
International represented MCA Realty as the seller.
The buyer, Providence Capital Group, was represented by Evan McDonald with Colliers International.
 |
| Evan McDonald |
MCA Realty is
a full-service real estate investment and management company specializing in
commercial properties throughout the Western U.S.
The goal of the company is to identify real estate investment opportunities and execute value creation strategies that maximize returns to its investors.
The goal of the company is to identify real estate investment opportunities and execute value creation strategies that maximize returns to its investors.
 |
| Jared Gordon |
 |
| Peter Cheng |
MCA Realty's principals, Tyler Mattox,
Jared Gordon, and Peter Cheng, have successfully navigated a full spectrum
of market conditions, and pride themselves on building and maintaining strong
relationships with industry partners.
CONTACTS:
Katie Haga / Lexi
Astfalk
(949) 438-6262
KBS and Gridium Inc. Cut $47,000 in Electricity Costs at Premier Office Towers in Emeryville, CA by Using Data Analytics Tool
 |
| Diana Rivers |
EMERYVILLE, CA, June 10, 2020 – KBS, one of the largest investors in premier commercial real estate in the nation, and Gridium Inc., a software company specializing in data analytics, are pleased to announced that Gridium’s new electric utility rate optimization tool has cut approximately $47,000 in operating expenses at The Towers Emeryville, an 814,000 square-foot Class A office park in Emeryville, California, which is part of KBS’ client portfolio.
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| The Towers Emeryville,1900-2200 Powell Street, Emeryville, CA |
Diana Rivers, at Cushman & Wakefield, is handling property management services for The Towers Emeryville on behalf of KBS.
“During these challenging times, KBS and Cushman & Wakefield are deploying new COVID-19 operating protocols, sharing information quickly, and preparing for the reboot,” says Rivers, associate director of asset services.
“Part of this is managing energy costs so that we can deliver high-value space to tenants, and Gridium makes that easy. It’s so much more than the dramatic views and outdoor lounges here that make these buildings productive and valuable to tenants.”
KBS used Gridium’s data analytics tool at The Towers Emeryville to identify annual utility-rate cost savings of $0.06 per square foot. Products and services that reduce operating costs are especially significant as property owners grapple with concerns surrounding COVID-19, according to Brent Carroll, asset manager for The Towers Emeryville and senior vice president for KBS.
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| Brent Carroll |
“The COVID-19 pandemic and shutdown have highlighted the need to keep expenses in check so that we can focus on exceeding the expectations of our investors, partners and tenants.
"Assessing current and future electricity use to decrease operating costs will be particularly important in the aftermath of the pandemic. Products like Gridium’s optimization tool help us to achieve this goal.”
Building from its foundation of patented machine learning technology – validated for accuracy and precision in an assessment performed by the Lawrence Berkeley National Lab – Gridium’s new electric utility-rate optimizations combine interval meter data with a proprietary rate engine to independently verify both historical bills and optimal rate selections.
 |
| Tom Arnold |
This technology enables buildings to claim utility bill credits from incorrect bills and to save money, going forward, by switching to the optimal electric utility rate for its own unique energy-use profile, explains Tom Arnold, CEO of Gridium Inc.
“Our interval-data powered technology finds energy and operating cost savings overlooked by legacy bill-pay providers running on spreadsheets,” says Arnold.
“Similar to a double-entry accounting system, Gridium’s technology independently calculates a building’s historical electric utility bills.
"These benchmarks allow for accurate comparison and verification of historical bills and for the identification of billing errors. And, by calculating these comparison benchmarks under all eligible hypothetical rate scenarios for each building, Gridium’s technology identifies optimal rate recommendations that lower future operating expenses.”
CONTACT:
Micaela Fehrenbach
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