Single-tenant on-campus medical office building in Lubbock, TX sells

Single-tenant on-campus medical office building at  3601 21st Street  Lubbock, TX 

LOS ANGELES, CA,  July 22, 2020 – JLL Capital Markets announced today that it has closed the sale of 3601 21st Street, a 20,880-square-foot, single-tenant, net-lease medical office property in Lubbock, Texas.

 JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute. The buyer was Los Angeles-based RealtyMogul.

Nick Foster

 3601 21st St. is fully leased to Covenant Health System, the dominant healthcare provider in the region and the largest health care institution in West Texas.

Covenant Health System is a wholly owned sub-network of Providence St. Joseph (Moody’s Aa3). 

The three-story property was completed in 1966 and most recently renovated in 2003.

  Situated on 1.21 acres, the building is within the 200-acre Lubbock Medical District and at the front door of the 394-bed Covenant Medical Center, the largest hospital by both bed count and revenue in the Covenant Health System network.

 The property is in Lubbock, which is the Southwest’s preeminent medical center between the Dallas-Fort Worth Metroplex and Phoenix.

Evan Kovac

 The JLL Capital Markets team representing the seller, included Nick Foster, who is part of the Corporate Finance Team; Evan Kovac, Andrew Milne and Matt DiCesare from the National Healthcare Capital Markets Team; and Michael George from the Dallas office of the Corporate Finance Team.

Additionally, John Chun, who is a member of the National Healthcare Capital Markets Team, advised from a debt and structured finance perspective.

“Despite obvious challenges in the capital markets, single-tenant opportunities backed by investment-grade tenants remain a bright spot for investors looking for certainty of income,” Foster said.

“This investment checked a lot of boxes and generated interest from single-tenant as well as healthcare-focused capital sources.”

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Andrew Milne 

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 our newsroom. 

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. HFF is now part of JLL. Real estate brokerage services now provided by Jones Lang LaSalle Americas, Inc. 

  

About Healthcare Property Advisors

Healthcare Property Advisors (HPA) is a national, full-service and vertically integrated medical office building developer and investor specializing in healthcare real estate.

Matt DiCesare 

HPA partners with health systems, acute care, pediatric and senior care hospitals and medical groups, across the United States.

 HPA specializes in acquiring, developing, leasing and managing medical office buildings, specializing in ambulatory care centers, clinics and parking structures with the backing of institutional capital through our discretionary Growth Fund and other joint ventures.

HPA’s efficient, hands-on management and ability to enhance these properties with attractive economic returns for its investors, while being mindful in delivering an asset that serves the purpose of the community and its health systems.

Healthcare real estate requires more efficient ways of delivering outpatient services, and with HPA’s background and expertise, it is able to assist health systems in their future growth of outpatient strategies.

Michael George

For more information, please visit www.ii-hpa.com, or contact them at info@ii-hpa.com.

About The Innovation Institute

The Innovation Institute is an independent, for-profit LLC structured to cultivate innovative solutions to transform healthcare delivery. The Innovation Institute is owned by non-profit health systems.

This collaboration taps into physicians, employees and industry business partners to incubate and commercialize new medical products and ideas through its Innovation Lab.

Comprised of three distinct elements – an innovation lab, an investment fund, and a shared services group (Enterprise Development Group), The Innovation Institute strives to “do more, with less, for more people.”

For more information, please visit ii4change.com.

John Chun

                               

About RealtyMogul

RealtyMogul is a private equity firm with investments in over $2 billion of real estate. 

The company directly acquires predominantly multifamily assets for its portfolio as well as connects commercial real estate companies to capital from individual investors through its industry leading online platform. 

Backed by leading VCs, RealtyMogul is one of the largest, most recognizable brands in online real estate crowdfunding, with nearly 200,000 users investing over $500 Million in capital into hundreds of real estate projects nationwide. 

The RealtyMogul platform offers a wide variety of commercial real estate investment opportunities: two public non-traded REIT offerings allow all members access to commercial real estate opportunities with a minimum investment of $5,000, while accredited investors enjoy access to REITs, individual private placement transactions and investments eligible for 1031 exchanges.

 For further information, please visit realtymogul.com.

For more news, videos and research resources on JLL, please visit our newsroom.

CONTACT:

Kimberly Steele

JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Rhino Capital Advisors LLC 

visit jll.com.

Massachusetts data center receives $10.35 million financing

Madeline Joyce

BOSTON, MA,  July 22, 2020 – JLL Capital Markets announced today that it has arranged $10.35 million in acquisition senior financing for 456 Bedford Street, a 199,902-square-foot flex property and state-of-the-art data center in the southern Massachusetts community of Fall River. 

JLL worked on behalf of the borrower, Boston-based Rhino Capital Advisors LLC, to place the, fixed-rate, non-resource loan with Cambridge Savings Bank.

Brett Paulsrud 

Rhino Capital Advisors LLC acquired the property in a sale-leaseback transaction with the seller and tenant, which signed a new 10-year lease.

The tenant offers information technology services to a list of Fortune 500 companies. 

Divided into two sections, the front section consists of a two-story granite structure with three-foot exterior walls recently built out as a state-of-the-art Tier III/IV, raised-floor data center and office space, while the rear section is a three-story mill that the tenant intends to use for future growth.

Situated on 3.27 acres, the property’s Fall River location provides proximity to both Boston and Providence. 

456 Bedford St. is within the Attleboro/New Bedford submarket, which is one of New England’s premier industrial markets.

The market benefits from a highly accessible location with immediate access to major highways, including Interstate 195 and Routes 24 and 6, providing east-west and north-south mobility.

The Capital Markets debt placement team representing the borrower was led by Senior Director Brett Paulsrud and Associate Madeline Joyce.

456 Bedford Street, a 199,902-square-foot flex property 
and state-of-the-art data center in the southern 
Massachusetts community of Fall River. 

“Given the current state of the market, there is a renewed interest in data centers from investors,” Paulsrud said. “This was a timely acquisition on Rhino’s behalf and a great addition to its portfolio.

"Both Rhino Capital and Cambridge Savings Bank worked patiently and flawlessly through the closing process despite the market challenges created by COVID-19.”

Paulsrud assisted the borrower in March with a refinancing on 271 Ballardvale St., a light manufacturing industrial building in Wilmington, Massachusetts.

For more news, videos and research resources on JLL, please visit our newsroom.

CONTACT:

Kimberly Steele

JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Rhino Capital Advisors LLC 

visit jll.com.

Historic Homes of Greenwich Built by Super-Rich

  

                       Sunridge Farm, built by John B. Pierce, 

                has just come on the market priced at $9.2 million.

Photo credit:  Chris Meech

Source: www.compass.com

John B. Pierce

GREENWICH, CT -- By the early 1900s, Greenwich, Connecticut, with its proximity to New York City, good beaches, nice summer weather and a deep harbor for yachts, had attracted some of America’s richest people who built massive mansions for full-time living or smaller “summer cottages,” that were still quite large, for seasonal stays.

A few of the super-rich homeowners included I. N. Phelps Stokes, a New York architect who in 1905 built his own home, Khakum Wood Estates, that included 177 acres and an 8,000-square-foot Tudor manor home that was dismantled in England, shipped to Greenwich and rebuilt;

 John Hamilton Gourlie, an insurance executive from New York who built a 15,000-square foot French Renaissance home in 1896 that was later expanded even more, renamed as Copper Beech Farm, and most recently sold in 2014 for $120 million;

I. N. Phelps Stokes

and a 12,000-square-foot, English-cottage-style home built in 1914 for Samuel Pryor who was the president of Remington Arms Company.

One of the prettiest of Greenwich’s great estates was Sunridge Farm built in 1900 for John B. Pierce, the founder of American Standard Company. Sunridge Farm has just come on the market priced at $9.208 million.

Pierce was born in Maine into two of the state’s oldest families.  With family money backing him, Pierce bought his own hardware store in 1872 where he became interested in steam and hot water boilers and radiators. 

In 1880, Pierce built a small factory in Buffalo, New York to build boilers and in 1882 opened a factory in Westfield, Massachusetts to manufacture cast-iron radiators. 

 John Hamilton Gourlie 
(Courtesy Century Association
 Archives Foundation)

 These ventures evolved into bathroom, kitchen and related plumbing fixtures and became American Standard in 1929 - still one of the country’s largest manufacturers of kitchen and bath products.

In his will, the childless Pierce gave all his stock and much of his wealth to his employees and friends who had been instrumental in creating the American Standard Company that we know today, according to TopTenRealEstateDeals.com.

Behind the wrought-iron entry gate and down a winding drive, Pierce’s romantic Italian-style villa stands as an elegant statement of the luxury and wealth of America’s Industrial Age. 

 Spread across 10.68 acres, the compound consists of the 11,017-square-foot main house, guest house, tennis court, pool and a pool house with kitchenette, changing room and bath.

  Landscaping includes endless green lawns punctuated by mature trees, shrubs, flower gardens and even a secret garden.  

Samuel F. Pryor 

Inside the main residence of seven bedrooms and eight baths are large elegant formal living and dining rooms, garden room dining, a family room and bar. 

Architectural features include a tiled entry hall, arched doorways, beamed ceilings and multiple fireplaces.  

Large terraces invite outdoor dining and plenty of recreation can be had at the pool and enjoying a few sets of tennis.

  Grounds and the secret garden beckon for outdoor strolls and exploration.

One of the great Industrial Age homes in Greenwich, Connecticut has just come on the market, only 35 miles from Midtown Manhattan.  Priced at $9.208 million, it is listed by Robin Kencel of Compass, Greenwich.

Robin Kencel

CONTACT:

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

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

Self-Taught Harry Gesner’s Triangle House in Tarzana, CA for Sale at $4 Million

     Harry Gesner

Photo Credit:  SAEPhotography
Source:  TopTenRealEstateDeals.com   

TARZANA, CA -- Surfer-turned-self-taught architect Harry Gesner’s thinking was unique.  Instead of going to years of school to learn the trade, he did it on his own and became one of America’s best architects.

His homes have drawn international fame such as his Wave House that he designed with a grease pencil onto his surfboard while astride it in the water, according to TopTenRealEstateDeals.com   

Gesner's spacious 5,278-square-foot home,

Triangle House, sits on 1.3 acres down a long drive, 

has four bedrooms and four baths. 

 Gesner’s design ideas were the inspiration for the Sydney Opera House; his acclaimed works include Sandcastle, where he lived for 50 years, Ravens Eye, Eagles Watch, Scantlin House, now on the grounds of the Getty center, and the Triangle House which is for sale at $3.9 million.

Gesner designed all his homes with an eye to the environment, how the home would sit on its location, the views (which he feels creates perspective to one’s life), and the home’s relationship to the movement of the wind and sun. 

  He designed one of his most famous works, the Triangle House, with the indoor and outdoor living areas blending together through opening walls of glass and taking advantage of the mild Southern California climate.  

Located inland in Tarzana, California on 1.3 acres down a long drive, Gesner’s 5,278-square-foot home is spacious and open with four bedrooms and four baths. 

 The guest house accessed across the terrace is a replica of the main house and can also be used as an office with glass walls to appreciate more views of the natural landscape. 

 With uninterrupted views across the living area, the chef’s kitchen has a large island for prepping and eating.  The dining room, with its wall of glass, gives the impression of being outdoors and is served by a large wine cellar. 

The den is sunken with a fireplace; there is a large media room, expansive outdoor terraces for entertaining and a pool and sauna.  Just inside the modernist entry gate is a futuristic garage. 

 The sweeping, triangular lines of the house create a special serenity both inside and out.

Gary Wolfe 

Harry Gesner, now 95, has been designing homes since 1945 and was still surfing up until a few years ago.

  In the book Houses of the Sundown Sea, published in 2012, his life in design, plans and notes from his archive along with his most famous homes are presented and reviewed.  

Built in 1960 with 21st-century updates, Gesner’s Triangle House is for sale. Priced at $3.9 million, the listing agent is Gary Wolfe of Trisha Perez & Associates, Coldwell Banker, Westlake Village, California.

CONTACT:

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

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

New Orlando, FL 7-Eleven store sold for $7.5 million

 John Krzyminski 

ORLANDO, FL, July 21, 2020 – JLL Capital Markets announced today that it has closed the $7.5 million sale of a newly constructed, 3,010-square-foot, single-tenant retail building ground leased to 7-Eleven within one of the country’s top hospitality and retail corridors in Orlando, Florida.

JLL marketed the property on behalf of the seller, Destination Shoppes LP, and procured the buyer, SRE Holdings, LLC.

With more than 70,000 stores serving 18 countries, 7-Eleven, Inc. (S&P: AA-) is the world’s largest store chain in the convenience retailing industry.

 Max Krzyminski

The building, which includes gasoline pumps, was completed in 2020 and has 15 years remaining on its lease. The property is situated on 1.05 acre at 9725 Universal Blvd. in the heart of Orlando’s highly sought-after Tourist Corridor.

The property has a growing and built-in customer base of more than 36,600 residents within a three-mile radius and is proximate to Universal Studio Orlando’s newest theme park, Epic Universe.

The JLL Capital Markets team that represented the seller was led by Senior Director John Krzyminski and his brother, Analyst Max Krzyminski..

Newly constructed 7-Eleven situated on 1.05 acre at 9725 Universal Boulevard in Orlando’s highly sought-after Tourist Corridor.

 John and Max Krzyminski specialize in investment advisory and sales in the Tourist Corridors, especially the International Drive market.

“The phenomenal trophy location is in a high-growth area exploding with more than $2 billion in projected and approved developments,” John Krzyminski said.

“The Kirkman Road Extension from Universal Boulevard to Carrier Drive will provide another north-south corridor to improve residential and commercial mobility that will increase traffic and accessibility to the 7-Eleven.”

For more news, videos and research resources on JLL, please visit our newsroom.

CONTACT:

Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.

Hold Thyssen Fills Longtime Vacant Retail Space With Quality Tenant in Rosemont Village Shopping Center, Orlando, FL

Vik Mahadeo 

ORLANDO, FL--- Hold Thyssen, Inc., a full service commercial property firm based in Winter Park , recently negotiated a new multi-year lease agreement for 4,480 rentable square feet at Rosemont Village Shopping Center, 4459 N. Pine Hills Rd. in Orlando .

 Hold Thyssen leasing associate Vik Mahadeo brokered the transaction on behalf of the landlord and the tenant in the transaction. 

Mahadeo negotiated relocation of the well-established church – Center for Israel United in Christ -- placing the quality tenant into the space that was vacant for more than three years.

Rosemont Village Shopping Center

 Hold Thyssen, Inc. provides commercial property brokerage and 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 .

CONTACTS:

Anthony Fisher, Vice President, Hold Thyssen Inc.,

 407-691-0505, afisher@holdthyssen.com

Robert P. Hold, Principal, Hold Thyssen, Inc.,

407-691-0505, bhold@holdthyssen.com

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 

407-644-4142 Lvershelco@aol.com.

Dothan Lock Storage

PRICE: $2,500,000

CALL FOR OFFERS:

FRIDAY, AUGUST 19th, 2020 5:00PM EST

Parker Sweet

DOTHAN, AL -- BH Storage Group is coordinating the $2.5 million sale of Dothan Lock Storage, a self storage facility located in Dothan, AL.

The opportunity consists of 35,625 net rentable square feet and 273 climate and non-climate units, according to Parker Sweet, president, BH Storage Group.

Sweet states in a printed flyer that offers will be considered by contacting Parker@BHStorageGroup.com or phone

239.770.0601.

Facility Highlights: ·             96% physically occupied (Area) ·             3 Mile Supply: 5.62 sqft ·             Stabilized cash-flowing property ·             Opportunity to implement institutional management and marketing to drive rate and economic occupancy. ·             No planned storage developments in the trade area

 CONTACT: 

Parker Sweet

President

Parker@BHStorageGroup.com

239.770.0601