PEBB Enterprises Expands Team in Boca Raton, FL with Addition of JoAnn Kowalkowski

 

JoAnn Kowalkowski

BOCA RATON, FL – Dec. 7, 2020 – PEBB Enterprises, a full-service private real estate investment company, announces the addition of JoAnn Kowalkowski as a Tenant Coordinator. Kowalkowski is based in PEBB’s Boca Raton office.

Kowalkowski is responsible for coordinating all tenant construction activity on current projects. This includes supporting and assisting tenants with construction drawings, permitting, utility connections and signage to ensure each business opens on time.

Ian Weiner 

Before joining PEBB, she served as a Tenant Construction Coordinator for Seritage Growth Properties and Encore Retail Centers, both located in South Florida. With more than 30 years of experience, Kowalkowski brings significant expertise in retail, office and industrial properties.

“JoAnn is a phenomenal addition to our firm’s growing team of talented professionals,” PEBB President and CEO Ian Weiner said. “Her experience and knowledge of real estate and construction will be of great value to our tenants throughout the buildout process.”

Kowalkowski graduated from the Detroit College of Business. She is also a Certified Property Manager and is a licensed Real Estate Agent in Florida.

 

 CONTACT:

Eric Kalis

954-370-8999

ekalis@boardroompr.com

 

 

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

 

https://pebbenterprises.com/.  

Mission-critical industrial facility near Orlando, FL sells for $71.45 million

New, 289,839-square-foot, Class A, mission-critical industrial facility in the Orlando-area community of Apopka, FL

 

ORLANDO, FL –

Scott Alexander

 JLL announced it has closed the $71.45 million sale of a new, 289,839-square-foot, Class A, mission-critical industrial facility in the Orlando-area community of Apopka, Florida.

JLL marketed the property on behalf of the seller, BlueScope Properties Group. Realty Income Corporation purchased the asset. 

Additionally, JLL brokered the long-term, net-lease build-to-suit with the investment-grade tenant. 

 Situated on 21.2 acres, the distribution center is within the 180-acre Mid-Florida Logistics Park, which is home to several other corporate users. 

The property is on the arterial State Route 429, which provides alternative access to the entire Orlando MSA.

Matt Roth

 Additionally, with completion of the nearby Beltway project, connectivity to the region will increase. 

The North Orange County Industrial submarket location places the property in one of the fastest-growing markets in the state and provides a deep labor pool along with amenities.

 Completed in July 2020, the property is fully leased to a global beverage company. 

The building has institutional-quality features, including 10 dry-dock doors with full equipment, 36-foot clear heights, ESFR sprinklers, LED lighting, cold storage space with capacity for 6,200 pallets, five cold dock doors to allow minimal temperature loss during handling and ample parking.

Julia Silva

An adjacent land parcel was included in the sale to allow for a future expansion of up to approximately 90,000 square feet.

Sean Devaney

 “We are extremely proud of this premier industrial park and the world-class users that have made it their home,” said Scott Alexander, the president of BlueScope Properties.

 “This was an extremely competitive and well-run process by JLL that resulted in a fantastic result for all parties involved,” added Matt Roth, BlueScope Properties Group vice president and general counsel.

 The JLL Capital Markets team representing the seller was led by Senior Managing Director John Huguenard and Managing Directors Sean Devaney, Julia Silva and Luis Castillo, along with debt support from Senior Director Brian Walsh and Senior Managing Director Keith Largay.

Luis Castillo

 “Given the long-term investment-grade tenancy with an iconic name brand, the interest in the offering was extremely strong, generating attention from both foreign and domestic capital,” Devaney said. 

“The growing demand in the cold storage space was evident in this transaction, while the favorable debt markets help to drive market leading pricing.” 

 The JLL Agency Leasing team that secured the tenant for BlueScope Properties Group was led by Managing Directors Wilson McDowell, Matt Sullivan and Bobby Isola.

 “This was a great team effort selling an excellent piece of industrial real estate in the most active industrial submarket in Central Florida,” McDowell said.

 “The 429 corridor is going to see a ton of activity from tenants, investors and developers for years to come.

 John Huguenard

 “Getting the lease across the finish line for BlueScope was big win for everyone involved but was only the first step in accomplishing BlueScope’s goals,” he added. “Working together with the JLL Capital Markets team, we were able to create a great roundtrip deal.”

 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 sales advisory, debt placement, equity placement or a recapitalization.

Brian Walsh

 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.

 About BlueScope Properties Group

BlueScope Properties Group is a leading developer of Class A industrial parks and buildings throughout North America. 

 About Realty Income Corporation

Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly income.

 The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with commercial tenants. 

Keith Largay

To date, the company has declared 605 consecutive common stock monthly dividends throughout its 51-year operating history and increased the dividend 108 times since Realty Income's public listing in 1994 (NYSE: O). 

The company is a member of the S&P 500 Dividend Aristocrats® index. Additional information about the company can be obtained from the corporate website at 

 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.

Wilson McDowell

 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 more than 93,000 as of September 30, 2019.

CONTACT:

Kimberly Steele

Senior Associate

 Public Relations

JLL Capital Markets                     

Matt Sullivan

 9 Greenway Plaza, Suite 700

Houston, TX  77046

T +1 713 852 3420

M +1 832 244 9994

Kimberly.Steele@am.jll.com

 us.jll.com/capitalmarkets

realtyincome.com.

jll.com.

Nadel Architecture + Planning Rehires Rick Redpath as Managing Director of New Phoenix, AZ office

Rick Redpath

  

PHOENIX, AZ –  Nadel Architecture + Planning, Los Angeles’ premier architecture and design firm, announced the continuation of its expansion plans with the opening of a new office in Phoenix, Arizona.

The expansion positions the firm for ongoing growth in the months ahead and allows it to harness opportunities in a rebounding market, according to Greg Lyon, chairman and principal for Nadel.

To spearhead the launch of its Phoenix office, Nadel has rehired veteran architecture and design executive Rick Redpath as managing director.

Greg Lyon

 Redpath, who has nearly 30 years of experience in the retail sector, had initially been with the firm for five years, joining right before the Great Recession in 2007.

“We’re thrilled to welcome Rick back to our team,” Lyon notes. “In addition to being like family to us, bringing him back on board is a testament to his track record in the industry and a real value-add for our firm.

“Nadel is like family to me, and I’m excited to be working with the firm again in this new capacity,” says Redpath. “I’m looking forward to building relationships and providing outstanding service in the southwest region as well as continuing to grow our presence and client base throughout the U.S.”

 Contacts:

Alex Caswell / Lexi Astfalk

Brower Group
(949) 438-6262

acaswell@brower-group.com

 www.nadelarc.com.

 

Downtown Orlando, FL Church Restoration Project Recycles 92% of Demo Debris

  

Marisol Santiago Soderstrom

 ORLANDO, FL  – Renovation usually involves demolition. And, demolition almost always involves dumpsters overflowing with debris destined for the nearest landfill. But, that’s not the case with the restoration project underway at the future H2O Church building in downtown Orlando .

The $600,000 project – to renovate the former First United Methodist Church building and demolish two education buildings at 2113 E. South St. – takes recycling to a higher level by seeing the salvaging of a whopping 92 percent of the elements removed from the structure, according to Tony Baumert, principal and project manager of Construction Development Inc. (CDI) 

Tony Baumert

“Most demolition projects are considered excellent if they recycle 50% of the debris,” Baumert said. “This project is way above a normal good percentage with only 7.83% going to the landfill and more than 92 percent of the debris tonnage either recycled or salvaged.  It is groundbreaking!”

Baumert said a total of 7,655 tons of materials (6,966 tons of concrete, 648 tons of asphalt, 11 tons of metal, and 30 tons of trusses and plywood) were sold, recycled or salvaged, while only 600 tons went to a landfill.  

 In comparison,  a recent (2019) CDI project involving the gutting of an office building and the construction of the new Delaney Hotel and Tavern on So. Orange Avenue had 30% of the materials recycled.  

James Gamble Rogers

Javier Omana who heads the engineering team at CPH, the project’s civil engineers, said he was literally astonished by the care that was taken and the amount of materials preserved. 

 His firm has agreed that they will submit this project for a state conservation award to Florida Planning and Zoning Assn. and the Florida chapters of both American Planning Assn. and American Society of Landscape Architects. 

 “CDI did an impeccable job. We’ve been around a long time and have never seen recycling to this extent.” Omana said.

The reclaimed materials from the church property will either be used elsewhere by the church, by non-profits or a few church members, according to the Rev. Jim Poorman, H2O pastor.

 “More than 200  4- by 8-foot sheets of plywood were preserved,” Poorman said. “We are planning on incorporating a number of the demo items into the new design.”  CDI is planning to donate most of the plywood and trusses to local charities.

During the renovation, Baumert said the original architectural drawing of the church was found. The drawing was done in the 1950s by James Gamble Rogers; one of the area’s defining architects.

 He said his firm is having the rendering and blueprint restored and framed to present to the congregation to show how much of the original church has been preserved.

Built in the mid-1950s, the Spanish/Mediterranean-style structure on nearly an acre was deteriorating when purchased in 2019 by 2113 E. South Street, LLC headed by Marisol Santiago Soderstrom, Roger Soderstrom, Jr. and John Kurtz, CCIM as part of an almost five-acre parcel acquisition. The owners are selling a 3.87-acre section to Surrey Homes USA and gifted the remaining church and land to H2O Church.

 Roger Soderstrom, Jr.

Poorman said H2O church – which has rented space in Orlando for nearly 20 years – is proud to be able to use a lot of the demoed materials in their new church.

 Included are wooden roof planks refinished and installed on a wall and in the ceiling of the community meeting area, stained glass windows that were removed by a former owner restored and reinstalled, and the stump of an oak tree taken down on the property is being cut into slices to make tables for the church’s meeting center.

John Kurtz

The renovation –  which Poorman said should be completed in early 2021 – includes a new roof, painting, stuccoing the exterior, new acid stained floors, new interior lighting, a sound system and the addition of a lobby with a coffee shop that can double as a meeting place for the neighborhood.

“We’re shooting to have everything restored, installed and completed early in 2021 along with having much of it finished in preparation for our Christmas Eve service.”  

 CONTACTS:

 Rev. Jim Poorman, H2O Church, 407-489-3440 or jim@h2ochurch.org. 

Roger Soderstrom, Sr., Stirling International Real Estate, 407-250-1000 rsoderstrom@stirlingire.com

Tony Baumert, Principal / Project Manager, Construction Development, Inc. (CDI) 812-767-3613 Tony@CDI-Construction.com

Beth Payan, Larry Vershel Communications, 407-644-4142, 407-461-3781 or beth@larryvershel.com.

 

Real Estate Capital Institute Finds Most Lenders Flush With Cash, Looking for Ripe Deals

John Oharenko

Chicago, IL – The last month of the year shows that lenders remain conservative.  Given the crippling effects of the pandemic, funding sources heavily focus on borrower experience and financial resources, in addition to asset quality.  

 That said, most lenders are flush with cash, actively desiring to place funds today and into the foreseeable future.

 

On the other hand, property owners and premisists find interest rates very appealing.  Shorter-term loans of five years or less start in the mid-2%-or-higher range.  

Ten-year debt is typically priced a quarter to half percent higher, with most loans falling well below four percent for desirable properties – namely apartments, credit, and industrial assets.

 

While ample funds exist at desirable rates, lenders still require robust underwriting tests.  Cash flow projections usually assume no income growth, and heavy discounting occurs on specialized space (e.g., retail and lodging).  

 

Given the low interest-rate environment, debt service coverage ratios of 1.5X to 2X are the norm.  Debt leverage of 50% to 70% is typical. 

The Real Estate Capital Institute's director, John Oharenko, suggests, "The effects of the pandemic dramatically change the face of real estate capital markets.  However, unlike the Great Recession, funds remain available but based on very selective criteria. "

 

The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates, including treasuries, bank prime, and LIBOR.  

 

CONTACT:

 John Oharenko 

 Executive Director

john.oharenko@reci.com

director@reci.com / www.reci.com

 

^The   Real Estate Capital Institute^®

Chicago, Illinois USA 60622

 

 

Suburban office/life sciences assets get boost from Middle Eastern investments

Hani Baothman

  

PHILADELPHIA, PA, Dec. 2, 2020 – JLL Capital Markets announced today that it has closed the $225 million recapitalization of Arborcrest Corporate Campus to Saudi Arabia-based Sidra Capital (Sidra).

The sale of the five-building, 855,600-square-foot suburban office campus with a significant life sciences and biotech tenancy in the suburban Philadelphia community of Blue Bell, Pennsylvania, demonstrates a growing trend of Middle Eastern investors taking a harder look at life sciences assets.

 JLL arranged the transaction between Spear Street Capital and Sidra, which acquired a 90-percent stake in the campus. Spear Street Capital has retained a 10-percent ownership stake in the asset.

 Completed in two phases in 2015 and 2019, Arborcrest’s healthcare, life sciences and biotech tenancy, which was crucial to Sidra’s interest, includes Signant Health, a leader in clinical trials; Pharmaceutical Research Association, a clinical research organization; and Abington Memorial, an outpatient healthcare facility; along with several tenants that support healthcare administration functions.

Audrey Symes

 According to Hani Baothman, Chairman of Sidra, demographic changes and the limited capacity for working remotely led Sidra to aggressively pursue life sciences assets, as COVID-19 has brought this sector into renewed focus, and these longer-term trends are driving and will continue to drive growth.

 Sidra’s investment strategy is to identify recession-resistant assets, and the firm generally remains sector agnostic, focusing more on recognizing and then investing into long-term trends. To diversify, they are looking at the life science industry, which was growing rapidly before the pandemic.

 “It is a sector we identified due to its defensive nature especially when space is being used by pharmaceutical and biotech companies for research development and even manufacturing,” Baothman said.

“Our overall strategy is to invest in defensive and cyclical commercial real estate and real estate tenants, regardless of where we are in the market cycle.

 The healthcare and life sciences industry has been front and center throughout the year, as the pharmaceutical and biomedical industry is focused on creating effective COVID-19 vaccine and therapeutics to treat the virus.

Claudio Sgobba 

With a spotlight on this industry, commercial real estate investors are showing a growing interest in assets with strong life sciences and biotech tenancy, given the industry’s stability throughout the pandemic and strong outlook into 2021.

 “The past several months have demonstrated how critical the life sciences industry is to our economy,” says Audrey Symes, Research Director, JLL Healthcare and Life Sciences.

“There is a significant increase in general overseas interest in life sciences investment, especially because the U.S. is the clear leader in the industry.”

 According to JLL Research’s 2020 Life Sciences Real Estate Outlook, life sciences real estate capital markets are well positioned for relative outperformance in 2020.

Transactions are occurring at pre-COVID pricing in many of the top clusters. The sector is increasingly attractive to Middle Eastern-based investors who have invested $389.2 million in the sector year-to-date, which includes the Arborcrest transaction, following two years of low activity, including zero investment dollars into life sciences properties in 2018.

According to JLL, the Arborcrest sale is the largest suburban Philadelphia life science trade during COVID. It also ranks as the sixth-largest suburban sale in a primary or secondary U.S. market.

 JLL’s Capital Markets team leading the transaction included Managing Director Claudio Sgobba and Senior Managing Director Doug Rodio.

Doug Rodio

 “Arborcrest fits Sidra’s unique and targeted investment strategy,” Sgobba said. “It is our pleasure to serve the Sidra and Spear Street teams. Understanding a client’s strategy allows us to present the best investment opportunities specifically for their requirements.”

 “Sidra’s commitment to placing capital in Greater Philadelphia with a proven partner like Spear Street further cements JLL’s thesis that the Philadelphia region is near the top of the target list of geography for many of the most discerning cross border investors today,” Rodio added.

 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