$33.28 million financing arranged for San Jose, CA mixed-use acquisition

Stevens Creek Executive Park in San Jose, CA, includes about 137,500 square feet of office and 28,000 square feet of retail space

SAN FRANCISCO, CA – JLL Capital Markets announced it has arranged $33.28 million in acquisition financing for Stevens Creek Executive Park, a five-building, multi-tenant, mixed-use asset totaling 165,500 square feet of office and retail space with additional entitlements in San Jose, California.

Alex Witt

 Stevens Creek Executive Park currently includes approximately 137,500 square feet of office and 28,000 square feet of retail space.

The property is situated on 9.24 acres at 4300-4400 Stevens Creek Blvd. in a transit-oriented Silicon Valley location that is exposed to more than 100,000 vehicles per day.

 Stevens Creek Executive Park is also entitled for a major redevelopment that would include 582 residential units, additional office space and 10,000 square feet of retail.

The San Francisco JLL Capital Markets Debt Placement team representing the borrower was led by Alex Witt, Brandon Roth and Spencer Bergthold.

Brandon Roth 

“Despite the market uncertainty caused by Covid-19, California Bank and Trust delivered accretive financing for the acquisition,” Witt said.

 “This speaks to the quality of the sponsor’s reputation and business plan that they successfully obtained non-recourse bank financing at a time of limited liquidity for like kind assets.”

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. 

 Spencer Bergthold

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.

CONTACTS:

Alex Witt

CA Lic.: #01223413

Phone: +1 415 395 4976

Email: Alex.Witt@am.jll.com

Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

  

Seefried Industrial Properties and Crow Holdings Capital to develop Amazon Delivery Station in Deer Valley, AZ (Maricopa County)

  

 Robert Guerena

PHOENIX, AZ -- The Phoenix office of Seefried Industrial Properties along with a private equity real estate fund advised by Crow Holdings Capital have acquired a 35-acre site with plans to develop an Amazon last mile delivery station, also known as “Project Andale.”

Located at northeast corner of 7^th Avenue and Pinnacle Peak Road, the project will include a 145,470 square-foot standalone package delivery facility used to complement Amazon’s larger fulfillment center in west Phoenix. 

 Additional features include over 13,000 square feet of office and break room space and parking for 780 delivery vans and 305 employee vehicle spaces.

 “Demand for state-of-the-art last-mile logistics space is something that we expect to continue to rise as shorter delivery times influence the way e-commerce companies conduct business," said  Robert Guerena, Senior Vice President for Seefried Properties.

 "The northwest Phoenix market presents an ideal opportunity for this new industrial build, offering strong transportation infrastructure and a growing residential market. 

"Our capital partner, Crow Holdings, recognized the same and we are proud to bring this last mile addition to the growing Amazon footprint within the Phoenix metropolitan area.”

The project is scheduled for shell completion during the fourth quarter of 2021.

Layton Construction has been engaged as the general contractor; Ware Malcomb is the Architect and Hunter Engineering, Inc is the civil engineer.

CONTACTS:

Mr. Robert Guerena

Senior Vice President, Western Region

602.337.8730

RobertGuerena@SeefriedProperties.com

Barbara Bennett
Marketing Coordinator
Seefried Industrial Properties
3333 Riverwood Parkway · Suite 200
Atlanta, Georgia 30339
O: 770.702.8207 │ M: 520.661.9641
bbennett@seefriedproperties.com

www.seefriedproperties.com

 www.crowholdings.com/chc.

Beacon Real Estate Group Closes $53.2 Million Multifamily Acquisition in Atlanta Area

53 West is a 266-unit, garden-style community
 located at 1000 Woodacres Road
in the affluent Gainesville/Hall County submarket 

Richard Kulick 

MIAMI, FL and ATLANTA, GA – Commercial real estate firm Beacon Real Estate Group continued its acquisition push in the Atlanta market with the $53.2 million purchase of 53 West apartment community in Gainesville, GA.

 This month, Beacon has closed on two significant multifamily investments totaling $100 million in the area.

The 53 West transaction closed on Aug. 25.

Completed in 2019, 53 West is a 266-unit, garden-style community located at 1000 Woodacres Road in the affluent Gainesville/Hall County submarket – one of Georgia’s fastest-growing areas. The Class A community is 99% occupied.

“This is an exciting acquisition for us - 53 West is a wonderful addition to our portfolio of multifamily assets,” Beacon Managing Partner Richard Kulick said.

“Tenant demand has been incredible, as many successful professionals who work in the urban core are relocating to high-quality suburban communities like 53 West. It is also one of the only Class A options within Hall County.”

The Gainesville/Hall County submarket is a vital economic anchor for the northeast Atlanta metro area.

 It is home to more than 350 companies and manufacturing firms, with more than 100 new and expanded businesses adding 5,500 jobs and $1.2 billion in capital investment since 2015.

Gainesville/Hall County has been particularly resilient during the COVID-19 pandemic, losing only 7.3% of jobs as of May 2020. That ranks 17th out of 338 U.S. MSA’s. The national average was 13.2% through May.

Robert Stickel 

At 53 West, minimal rent deferment has been needed to date. That underscores the submarket’s strong demographics and ability to preserve jobs amid challenging broader conditions. 

Beacon obtained acquisition financing for 53 West from Freddie Mac and Berkadia. Mitch Sinberg and Scott Wadler of Berkadia arranged the financing.

Cushman & Wakefield’s Robert Stickel and Alex Brown marketed 53 West on behalf of seller Varden Capital Properties and Tellus Partners.

Earlier this month, Beacon closed on the $46.1 million acquisition of the 168-unit Domain at Cedar Creek and 164-unit Gateway at Cedar Brook in the Decatur submarket of Atlanta.

Alex Brown 

Beacon continues to aggressively pursue multifamily acquisitions in the market.

“We study the fundamentals of each potential acquisition and closely examine the surrounding area,” Beacon Managing Partner Carlos E. Imery said.

 “Our team does not overreact to short-term trends. The 53 West opportunity checked every possible box for us.”

Beacon owns more than 6,000 multifamily units in the Southeast U.S., with a strong focus on secondary markets. 

The company’s portfolio also includes nearly 1 million square feet of office and retail properties in the region.

 Contacts:

Eric Kalis

 BoardroomPR
ekalis@boardroompr.com

954-370-8999 

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.bcnreg.com.

EagleBridge Capital Arranges $1.6 Million Financing For Salem, MA Bank Building

Salem Bank Building, 253 Essex Street, Downtown Salem, MA

Boston, MA -- EagleBridge Capital, has arranged mortgage financing in the amount of $1,600,000 for the bank building located in Salem, Massachusetts.

The mortgage financing was arranged by EagleBridge principal Ted. M. Sidel who stated that the loan was provided by a leading bridge lender.

The building is located at 253 Essex Street in the heart of Downtown Salem. 

The Classical Revival style brick and steel bank building was originally constructed in 1910 by the Merchants National Bank.  The area features a number of period buildings constructed in the 18^th, 19, and early 20^th centuries. 

 Ted. M. Sidel 

 Essex Street and the nearby surrounding area is home to a variety of retail, restaurant, residential, and office properties as well as historic tourist attractions.  The acclaimed Essex Peabody Museum is also located on Essex Street within a short walking distance.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, r & d, and single tenant buildings, shopping centers, hotels, condominiums, and mixed use properties as well as special purpose buildings. 

 EagleBridge Capital is a member of Commercial Real Estate Capital Advisors (CRECA) a national association of independent commercial mortgage banking firms.

 CONTACT:

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place,  Suite 2600

Boston, MA 02108

Tel: 617-292-7177  Ext.12

Fax: 617-292-7575

ssidel@eaglebridgecapital.com

ONE BOSTON PLACE 

  BOSTON, MA 02108   

 TEL: 617.292.7177   FAX: 617.292.7575

                                     www.eaglebridgecapital.com

Ware Malcomb Promotes Sergio Valentini to Director, Architecture

Sergio Valentini

LOS ANGELES, CA– Ware Malcomb, an award-winning international design firm, today announced Sergio Valentini has been promoted to Director, Architecture in the Los Angeles office.

 In this role, Valentini leads the growth and management of the Architecture Studio and oversees all architecture projects for the firm’s Los Angeles office.

A multifaceted design professional, Valentini’s background includes team and project management of complex projects at different scales in a collaborative, creative environment.

His understanding of different markets and strong technical background influence his design approach delivering the highest standard of client service while creating spaces that are sustainable, site specific and enhance the human experience. 

Radwan Madani

“Since joining Ware Malcomb last year, Sergio has successfully taken over the daily management of the Architecture Studio and spearheaded a diverse array of new work including residential adaptive reuse, creative office, entertainment, and industrial projects,” said Radwan Madani, Principal of Ware Malcomb’s Los Angeles office.

 “Sergio’s leadership, work ethic and solid design and technical expertise have established him as a strong leader within our office and among our industry partners. We look forward to his continued contributions and leadership.”

Valentini joined Ware Malcomb in 2019 as Studio Manager, Architecture in the Los Angeles office. Previously he worked at major firms in London, Chicago and Los Angeles.

Valentini brings over 17 years of architecture and design experience to the Ware Malcomb team, including international and domestic projects in high-rise office, mixed-use, entertainment, aviation, residential, and hospitality sectors. 

Valentini holds a Master of Architecture degree from Politecnico di Bari in Bari, Italy. He has been active in industry associations such as the Council on Tall Buildings and Urban Habitat (CTBUH) and is currently Chair of the Los Angeles chapter of the Royal Institute of British Architects (RIBA). 

.

CONTACTS:

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

youtube.com/waremalcomb

Prime 1-acre high-rise development site for sale in Atlanta’s Urban Core

The site, at 323 Spring Street, totals just under one acre at Spring (Ted Turner Drive) between West Peachtree Place and Simpson Street with frontage on all three streets

ATLANTA, GA – Drapac Capital Partners has hired commercial real estate firm JLL Capital Markets to market its property located at 323 Spring St. in Atlanta. The site is in the northern section of Downtown Atlanta set among premier high-rise office and mixed-use towers. 

 Scott Cullen

 With zoning that includes Atlanta’s most dense development rights, the property offers a rare opportunity to develop a true mixed-use tower in the heart of Atlanta’s rapidly developing urban core.

The site totals just under one acre at Spring (Ted Turner Drive) between West Peachtree Place and Simpson Street with frontage on all three streets.

Currently utilized as a commercial parking operation, the site provides a solid income stream allowing flexibility on development timing.

Mark Lindenbaum 

 Located within the Downtown Atlanta zoning district, the property allows for a significantly dense development within the existing zoning ordinance with generous FAR and programmatic flexibility allowing for a mix of potential uses.

The site is one block from the mixed-use Allen Plaza project and one block from Atlanta’s museum campus, including the World of Coca-Cola, the Center for Civil and Human Rights, the Georgia Aquarium and Centennial Olympic Park.

The proposed Stitch project is two blocks away and will create a seamless connection for pedestrians and alternative transportation options connecting to the Civic Center MARTA station, as well as Midtown and Downtown.

Possible uses for the site include dense residential, office, hospitality and student housing options.

Allen Plaza

 Scott Cullen and Mark Lindenbaum of JLL’s Capital Markets group will oversee the marketing, developer selection and sales process.

The JLL team has recently brokered other dense development sites in the area, including the MARTA North Avenue Station; 693 Peachtree Street, now the site of the award-winning lilli Midtown; Juniper & 5th, currently being developed for a high-rise residential project by StreetLights Residential; and 505 Courtland Street, planned for a residential tower by Woodfield Development.

 “As growth continues in Atlanta’s urban core, development patterns are leading to the northern part of Downtown,” Cullen said.

The World of Coca-Cola

“The property sits at the nexus of those growth patterns, including the increased development in the southern portion of Midtown and SoNo (south of North Avenue), and the growth of the heart of Downtown.

 Moreover, the dwindling supply of quality dense development sites makes this a rare opportunity for purchase.”  

 Downtown Atlanta is in the midst of a renaissance, with major development projects occurring at the Gulch, South Downtown, Fairlie-Poplar and SoNo.

 Georgia Aquarium

Almost $10 billion worth of development projects have been developed or announced in the past five years, including 8,000 residential units, 4,000 hotel rooms and 14 million square feet of commercial space. 

 “We see the northern section of Downtown Atlanta as the logical place for continued densification of Atlanta’s core, with tremendous amenities, new development projects in the pipeline and the future Stitch project,” Lindenbaum added.

 “The existing street grid and accessibility to the I-75/85 connector make this a strategic location for a dense, mixed-use development project.”

 More information is available at www.323Spring.com.  

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

 CONTACT:

 
 Kristen Murphy,

JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

Bank OZK provides $21 million construction loan for Chapel Hill, NC development

 Gwendolyn Harrison

CHARLOTTE, NC – JLL Capital Markets announced it has arranged a $21 million construction loan for the development of The Gwendolyn, a four-story office property totaling 106,000 square feet in Chapel Hill, North Carolina. 

JLL worked on behalf of the borrower, Grubb Properties, to secure the loan through Bank OZK.  

The Gwendolyn is part of the first phase of the Glen Lennox redevelopment, a 70-acre planned community that was completed in the 1950s as the center of living, shopping and industry for Chapel Hill residents. 

 Clay Grubb

 Grubb Properties is revitalizing the community through modern design concepts, tasteful architecture and a network of connected green spaces that will foster increased pedestrian and bicycle connectivity to the retail, office and residential options at Glen Lennox.

“Our motto at Grubb Properties is ‘People Who Care, Places That Matter’ and the evolution of Glen Lennox reflects a purposeful effort to honor the legacy of individuals who have contributed to the greater good of the community, the university, our state and the broader society,” Clay Grubb, CEO, Grubb Properties noted.

“The Gwendolyn is named after Gwendolyn Harrison, the first African-American woman to attend the University of North Carolina in 1951.

"I admire her accomplishments and determination to never give up, paving the way for others to follow suit. We hope by paying homage to these strong women through our buildings we will spark curious conversations about who these individuals were and inspire the next generation of diverse trailblazers and change-seekers.”

Hal Kempson

Scheduled for completion later this year, The Gwendolyn is the first-ever Class A office project in Glen Lennox.

The property will offer 25,000-square-foot floorplates in a LEED® certified building, on-site property management, a terrace café on the ground floor, a fitness center with showers and locker rooms, indoor bike racks and on-site parking for 432 vehicles.

The Gwendolyn is within close proximity to some of the Triangle Area’s largest economic drivers, including Downtown Chapel Hill, Downtown Durham, Research Triangle Park and Raleigh-Durham International Airport.

Additionally, the property benefits from a highly educated workforce due to the 12 local colleges and universities situated nearby and has immediate connectivity to the greater Triangle region via all the MSAs’ primary thoroughfares.

The JLL debt placement team leading the financing efforts included Senior Managing Director Hal Kempson and Director John Gavigan.

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

 John Gavigan

 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.

 CONTACT:

 
 Kristen Murphy,

JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

www.grubbproperties.com