JLL Capital Markets adds debt industry veteran Tony Nargi to its Denver office

 

Tony Nargi 

DENVER, CO, May 12, 2021 – JLL Capital Markets announced today  it has added Tony Nargi as a Managing Director within its multi-housing debt and equity placement team in Denver, Colorado.

Nargi has 15 years of real estate experience and a strong background in originating and managing multi-housing real estate debt and equity transactions.

 In his role, Nargi will be responsible for originating and executing multi-housing financing for JLL’s clients and will report directly to JLL Capital Markets’ Eric Tupler, Senior Managing Director and co-office head of the Denver and Salt Lake City offices.

Eric Tupler

“Throughout the pandemic, we’ve seen increasing demand for various multi-housing properties and expect the needs of our investor partners and clients to grow,” says Tupler.

“With Tony’s strong background in executing financing deals and being recognized as a top producer, we’re confident that he will be a strong asset to our growing multi-housing team.”

 Prior to joining JLL, Nargi served as Senior Vice President and Regional Production Manager for KeyBank Real Estate Capital, focusing on commercial mortgage banking.

CONTACT:

Natalie Passarelli

JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

 

 

McHugh and Crea Construction Teams Deliver First Apartments in Three-Year Prairie Shores Renovation in Chicago

 

Kate Ivanova

 

CHICAGO, IL, May 12, 2021) — James McHugh Construction Co., one of the country’s largest commercial contractors with a concentration in multifamily work, along with its joint venture partner Crea Construction, a minority- and woman-owned general contracting firm, announced they have completed interior renovations to more than 150 units at Prairie Shores, a five-tower apartment complex in Chicago’s Bronzeville neighborhood.

 

Located on 20 acres at 2801-3001 S. Martin Luther King Drive, Prairie Shores is just south of McCormick Place and west of Lake Shore Drive and 31^st Street Beach. With 1,675 total units, Prairie Shores is one of the largest rental communities south of the Loop.

Sandya Dandamudi

Developed from 1957 to 1961 and purchased in 2019 by Chicago-based firms Golub & Company and Farpoint Development, along with New York-based Goldman Sachs, Prairie Shores is undergoing a multi-phased renovation.

  It is a project that has perfect timing given the renewed interest in the historic Bronzeville neighborhood, according to McHugh Construction.

 

“We’re currently working on three very different multifamily projects in Bronzeville at various stages of development and construction, so to say this area is having a resurgence is an understatement,” said Michael Meagher, president of McHugh Construction.

Michael Meagher

“Because of new-construction projects that will deliver over the next few years, it was very smart of Prairie Shores ownership to get out in front by renovating its units now so they can capture the attention of renters looking for a more modern and sophisticated living experience.”

 

Within the apartments, the McHugh/Crea joint venture is overseeing the installation of new appliances, countertops, plank flooring, plumbing, fixtures and lighting, plus electrical system upgrades and painting. Building corridors will also receive new finishes.

 The team began staggered renovations of the classic studio, one-, two- and three-bedroom apartments at Prairie Shores in the fall of 2020. With units being renovated in phases, the community could maintain its high occupancy levels and minimize disruption for current residents. 

 

“Daily coordination with Prairie Shores’ property management team has been a critical piece of the renovation process as we are working in occupied buildings,” said Kate Ivanova, vice president of operations for McHugh Construction.

 

 “We are sharing loading docks, elevators and building access points for our construction activities with tenants who are moving in and out, as well as building services such as refuse removal.

 "That’s where our years of multifamily construction and renovations experience pays off – we know how essential it is to maintain close communications with property managers, how to stay on schedule during a pandemic, and most importantly, how to get work done without disruption to the tenants’ daily lives.”

“After completing the stonework for dozens of luxury multifamily high-rises throughout downtown Chicago, we are thrilled to bring our knowledge and discerning eye to a property as significant as Prairie Shores,” said Sandya Dandamudi, president of GI Stone.

 

“The durable stone we’ve chosen makes the apartments looks so fresh and bright – it’s the type of stunning finish that will be beautiful for years to come.”

CONTACTS:

 

Paula Widholm, pwidholm@taylorjohnson.com,

 (312) 267-4525

Kim Manning, kmanning@taylorjohnson.com,

 (312) 267-4527

 

www.mchughconstruction.com.

 

Eric Lockwood Promoted To Director of Design at Tangram

  

Eric Lockwood

SANTA FE SPRINGS, CA, May 11, 2021 – Tangram, a curator of highly creative commercial interior environments and workspaces, has announced Eric Lockwood has been promoted to Director of Design for Tangram Technology. 

 Lockwood has over 27 years of experience in technology consulting, design and integration for the built environment.

 He has worked in the Americas, Europe and Asia, and previously served as a senior account executive for Tangram Technology where he successfully led complex technical designs and oversaw enterprise-wide system implementations for his customers.

In his new position as Director of Design for Tangram Technology, Lockwood will focus on design innovation and customization to address new technological challenges, many of which have been accelerated by the pandemic. 

 

Jack Hooven

“Eric is a proven leader in successful design and execution of innovative creation from concept to completion,” said Jack Hooven, Chief Operating Officer of Tangram Interiors.

 “His project expertise and passion to continually excel in his craft makes him an invaluable asset to Tangram Technologies.”

Lockwood’s current clients include the Writers Guild of America, Chapman University & CoreLogic. He holds a degree from University of Salford, United Kingdom in BEng Electroacoustics is CTS-D Certified and is a member of the United States Green Building Council.

CONTACT:

 Rachel Devany

KCOMM

949-443-9300

rachel@kcomm.com

www.tangraminteriors.com.

 

Daum Commercial and Phoenix-Mesa Gateway Airport Announce Groundbreaking of Gateway Executive Airpark in Mesa, AZ

 

Rendering of planned Gateway Executive Airpark, Mesa, AZ

 PHOENIX, AZ – DAUM Commercial Real Estate Services has announced the groundbreaking of Gateway Executive Airpark, a three-hangar development totaling more than 185,500 square feet at Phoenix-Mesa Gateway Airport in Mesa, Arizona.

Gateway Executive Airpark, which is now leasing and will be available for occupancy by Q4, is a state-of-the-art, full-service hangar facility including multi-tenant and freestanding hangars, according to Steve McKendry, Principal and Executive Vice President at DAUM Commercial, who is an exclusive listing agent for the property alongside DAUM Executive Vice Presidents Chris Rogers and Trevor McKendry.

Steve McKendry

“Private jet services for both business and leisure travel have proven to be much more resilient than commercial airlines throughout the pandemic,” says Steve McKendry.

“A year on, many corporations still do not want their executive teams flying commercial airlines, and individuals are placing safety first and considering private flights when they never would have previously. 

"Business aviation has improved 30% from this time a year ago, about 8% less than pre-pandemic 2019. 

"The improvement is due to not only safety issues but is reflective of economies opening up and travel restrictions being removed. In contrast, scheduled airline activity is down about 18% from this time in 2020 and 44% from 2019.”

Steve adds that COVID-19-related hesitancy will continue for several months, possibly years. Unrelated trends, including a such a shortage of first-class seats as airlines redesign their interiors, could also make private jet travel more appealing.

Trevor McKendry

“Despite the unprecedented challenges faced this past year, this is still an ideal time to strategically deliver a development like the Gateway Executive Airpark to the greater Phoenix market,” explains Rogers.

“Major corporations, including Microsoft, Google, and Apple, are expanding in the area, driving potential demand for executive travel.

"There has also been an influx of development of new aeronautical facilities near Phoenix-Mesa Gateway Airport in particular, bringing additional business to the submarket.”

Advantages of the Phoenix-Mesa Gateway Airport location of this project also include reduced taxes and lower operating costs through unique tax programs and incentives.

“While we are anticipating strong local demand from large corporations and high-net-worth individuals, this space could also be attractive to private jet owners and branded charter services based elsewhere,” adds Trevor.

Chris Rogers

“For instance, even with the additional travel required, the significantly lower rental rates and tax incentives make holding aircrafts at the Phoenix-Mesa Gateway Airport approximately 70% less than anywhere in Southern California.”

The hangars are constructed with steel frame infrastructure, metal exterior walls and metal roof. The steel frame infrastructure provides clear span bays necessary for aircraft maneuvering.

Additionally, Gateway Executive Airpark features office space built to suit tenant’s requirements, LED overhead lighting with on/off motion sensors in hangars, sealed concrete floors and hangar doors 28’ high with widths spanning 90’ to 110’.

Developed to accommodate the increasing demand trend for the larger long range business jets, the dimensions of the hangar bays and hangar doors at Gateway Executive Airpark will accommodate larger jets, such as the new Gulfstream 700, multiple aircraft, and other aviation uses such as maintenance, repair, and overhaul (MRO) operations.

Gulfstream 700

Steve adds: “As part of our involvement with this project, we’ve been keeping our finger on the pulse of the hangar space market to truly understand the demand drivers and current local market.

Only in recent years have hangars been designed for larger executive jets, which has resulted in a market that currently has very little availability of hangars designed to accommodate long-range executive jets.”

Situated adjacent to Textron’s Citation Service Center and Embraer Executive Jet Service Center, Gateway Executive Airpark is located at 5559 S. Sossaman Road in Mesa, Arizona.

CONTACTS:

Arleeny Escarcega / Elisabeth Manville  
Brower Group  
(949) 438-6262 
aescarcega@brower-group.com 

 

www.daumcommercial.com.

https://www.gatewayhangars.com/.

 

 

 

CT Realty Developing 3.2 Million-SF Logistics Park in Jacksonville, FL

Seda Preston 

  Newport Beach, CA and Dallas, TX –– CT Realty, in joint venture with Diamond Realty Investments, announces the acquisition of 250 acres of industrial land for the development of an eight-building, 3.2 million-square-foot, state-of-the-art logistics park in Jacksonville, FL.

  The project further extends CT Realty’s presence in the Southeast U.S. as the company breaks ground on 10 million square feet of logistics projects in 2021.

Guy Preston 

 “This is an outstanding opportunity to create a first-class industrial park capable of accommodating the largest users in the Southeast, and we’re thrilled to embark on a long-term, multi-year commitment to the region,” said Rob Huthnance, who oversees all of CT’s developments in the Eastern U.S.

 

The first phase of the project is underway with 1.7 million square feet in three buildings, representing the largest spec development in Jacksonville and including one of only two spec million-square-foot buildings in development statewide.

 

CT is bullish on Jacksonville’s established logistics transportation infrastructure, proximity to a significant and growing regional consumer base and the strength of the labor pool in Jacksonville, all key factors in serving the needs of area logisticians, distribution companies and e-commerce users.

Rob Huthnance

The area’s robust logistics transportation infrastructure is anchored by the Jacksonville Port Authority (JAXPORT), which handles the highest container volume of the four ports serving Florida.

 

JAXPORT is in the midst of a major dredging project that, upon completion in 2022, will create the deepest port on the East Coast, capable of serving high-capacity New Panamax container ships.    

 

“The combination of the project’s proximity to the most active port complex in Florida coupled with the ability to reach 61 million consumers in a day’s truck drive creates a compelling opportunity for companies in the logistical supply chain,” said Huthnance.

Jacksonville Port Authority (JAXPORT)

“Add in the nearby CSX and Norfolk Southern intermodal rail yards, and the air cargo facilities at Jacksonville International Airport and the project is poised to meet any goods transit need.”   

 

The project will be located in Northwest Jacksonville on Pritchard Road, approximately three and one-half miles west of I-295.

 

The site is adjacent to Southeast Toyota Distributors, the world’s largest independent Toyota distributor and the seller in the land transaction.

 

Guy and Seda Preston of Colliers International represented both Southeast Toyota Distributors and CT in the transaction, the terms of which are undisclosed.

  

CONTACT:

 

Stacey Hershauer

focusAZ 

 P 480.600.0195

www.focusaz.com

 

ctrinvestors.com.

 

Burger Billionaire Serves Up L.A. Mansion With All the Works

Lynsi Snyder

 

 BRADBURY ESTATES, LOS ANGELES, CA -- The American hamburger has spread well beyond the states, and chain-burger restaurants from McDonald’s to Wendy’s now span the globe.

 

Julia Roberts

One of the earliest of the hamburger restaurants that spread beyond its local roots, In-N-Out, first opened in 1948 at a hole-in-the-wall location in Baldwin Park, California, and slowly spread beyond California into Arizona and Nevada and most of the western states.

Olivia Wilde

 

 A favorite treat for Southern California natives and visitors, in 2020, People magazine published a rundown of 28 celebrities including Julia Roberts, Adele and Olivia Wilde bragging about their In-N-Out burger meals.

Adele Wilde

 

In-N-Out was California’s first hamburger joint to offer drive-thru service, a big change from the baby-boomer days of carhops like those seen, sometimes on roller skates, in American Graffiti and Happy Days.

Harry and Esther Snyder

In-N-Out didn’t start out trying to create mega wealth through the franchise system or expanding into the global scene. Instead, it stuck to its founders’, Harry and Esther Snyder, business plan of success through quality hand-prepared food.

Adrián Beltré

 Now having passed to the third generation and the only grandchild of the Snyders, Lynsi Snyder, In-N-Out has made her a very wealthy woman, estimated by Forbes this year to be $3.6 billion.

Joseph Chiovare 

 Lynsi recently put her California compound on the market for $16.8 million.

Snyder purchased the property in 2012 from longtime MLB-star Adrián Beltré, formerly with the Los Angeles Dodgers, for $17.4 million.

At 16.8  million, the Lynsi Snyder mansion
at Bradbury Estates, Los Angeles, CA
is the most expensive listing
 in the San Gabriel Valley,
 according to
 TopTenRealEstateDeals.com

Even though she would be taking a loss at the current sale price of $16.8 million, it is still the most expensive listing in the San Gabriel Valley, according to TopTenRealEstateDeals.com.

In 2017, Snyder had it on the market for $19.8 million but took it off at the end of that year.

Ronald Chang 

Not your ordinary California hamburger-heiress home, Lynsi’s place comes with all the works and much more.

Located in guard-gated Bradbury Estates in the Los Angeles area, the 18,687-square-foot main house and three-bedroom, two-bath guest house are sited on a resort-like four acres with a two-hole golf course, tennis court, basketball court, fitness center, 3,400-square-foot recreation center, and a six-car garage.

Built in 2010, the main house is comprised of eight bedrooms and 12.5 baths.

 Entering through a long-grand driveway into an elaborate foyer with an impressive double staircase, the public rooms include formal living and dining, a billiards room, lushly decorated home theater, wine room, a chef’s kitchen with double islands, and a full outdoor kitchen.

Outside, the infinity-edge pool and cabana are surrounded by vineyards, fruit trees and manicured landscaping. Throw in a few In-N-Out burgers, and this could be hamburger heaven!

 The estate funded by In-N-Out hamburger success is listed by Joseph Chiovare and Ronald Chang of Coldwell Banker Realty, Arcadia, California.

CONTACT:

 

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3728
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

 

YouTube:  https://www.youtube.com/watch?v=PdIhfe1PUBo
Photo Credit:  IM Real Estate Photography & David Guettler Photography
YouTube Credit:  Sean Evans, @evvo1991 backtothemovies.com/
Source:  TopTenRealEstateDeals.com

Source: www.coldwellbankerhomes.com