Last-mile distribution facility in Charlotte, NC sells to EQT Exeter

 

Last-mile distribution facility in Charlotte, NC 

CHARLOTTE, NC – JLL Capital Markets announced it has closed the sale of an 83,599-square-foot last-mile logistics facility at 2708 Yorkmont Rd. in Charlotte, North Carolina.

Pete Pittroff

JLL worked on behalf of the seller, Brady Holdings LLC. EQT Exeter purchased the vacant facility and will reposition the asset given its strategic location and appeal to a wide variety of uses.

 2708 Yorkmont Rd. provides exceptional access to a network of major transportation thoroughfares, including Interstates 77, 485 and 85, which is known as the industrial backbone of the Southeast.

Situated within the high-demand Airport Industrial submarket, the facility is within minutes of some of Charlotte’s largest commercial and residential areas – Uptown, South End and South Park – and Charlotte Douglas International Airport.

Patrick Nally

There are limited development opportunities within this submarket, making this an irreplaceable, last-mile location.

 The JLL Capital Markets team representing the seller was led by Senior Managing Director Pete Pittroff, Managing Director Patrick Nally, Managing Director Brad Cherry, Associate Dave Andrews and Analyst Michael Scarnato.

 “Last-mile logistics facilities are in extremely high demand from both tenants and institutional capital,” Pittroff said. “JLL would like to thank Brady Holdings for the opportunity to represent them and congratulate EQT Exeter on another successful acquisition in the Charlotte market.”

Brad Cherry

According to JLL Research, the Charlotte Industrial market remains healthy and is expected to be one of the largest beneficiaries of the ongoing industrial cycle of expansion.

The Airport Industrial submarket had no new deliveries for industrial product in the first quarter of 2021 and a vacancy rate of only 6.6%.

With less than one million square feet under construction and a lack of available land, facilities like the one at 2708 Yorkmont Rd. are in high demand.

Dave Andrews

 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 deliver the best-in-class solutions for clients — whether investment sales 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.

 About EQT Exeter

EQT Exeter is a real estate investment manager focused on industrial properties and portfolios across North America and Europe.

Michael Scarnato

As hands-on operators, EQT Exeter’s experienced team of real estate experts acquires, develops and manages big box warehouse, multi-tenant logistics and select suburban and urban office and multi-family properties out of multiple regional offices.

Its combination of local execution and national scope allows EQT Exeter to construct diversified, high-performing portfolios to deliver superior real estate solutions to its tenants and to deliver proven risk-adjusted returns to its investors.

For more information, please visit exeterpg.com.

 

CONTACT:

Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

 

 

Lincoln Property Co. Earns Third Consecutive NAIOP Arizona Owner/Developer of the Year Award; Additional wins include Spec Office Building of the Year and Transaction of the Year

Grand2 at The Grand at Papago Park Center in Tempe, AZ

 

 PHOENIX, AZ – In the same year it celebrates its 20^th anniversary, the Desert West region of Lincoln Property Company (LPC) has earned its third consecutive NAIOP Arizona Owner/Developer of the Year award, as announced at the annual Best of NAIOP award event held yesterday in Phoenix.

 In addition to Owner/Developer of the Year, the company also earned the Spec Office Project of the Year award for its Class A Union office development in the Mesa Riverview District and the Transaction of the Year award for Grand2 at The Grand at Papago Park Center in Tempe, Arizona.

David Krumwiede

This is the third consecutive Owner/Developer of the Year award win for LPC Desert West, highlighting the company’s achievements in development, ownership and management.

 

“Phoenix continues to rank at the top of the nation for economic and population growth,” said LPC Desert West Senior Executive Vice President David Krumwiede.

 

 “That requires buildings that are efficient, comfortable and  expertly designed and amenitized to attract and retain the best talent.

"We are grateful to be in a position to build and manage these types of transformative buildings, and extend tremendous thanks to our employees, project partners and NAIOP for playing such a substantial role in our success.”

 

In partnership with Harvard Investments, LPC Desert West also completed Union Building One, which earned this year’s NAIOP Arizona Spec Office Building of the Year award..

Class A Union office development 
in the Mesa Riverview District 

Other 2020 achievements by LPC Desert West include the start of construction at the omnichannel-focused, 321,773-square-foot Buckeye85 industrial building in the heart of the I-10 Corridor, and delivery of the 1.27 million-square-foot, Class A Park303 Phase I industrial building.

 

 In addition to the delivery of Park303 Phase I, LPC Desert West has expanded the Park303 creative industrial park to 201 acres supporting up to 4 million square feet, with one full mile of Loop 303 frontage.

 

For more information on LPC Desert West development, investment and property management services, contact LPC Desert West at 602.912.8888.

  CONTACT:

 Stacey Hershauer

480.600.0195

stacey@focusaz.com

 

www.lpc.com or www.lpcdesertwest.com.

 

 

Comunidad Partners Acquires 206-Unit, Multifamily Asset in East Fort Worth, TX

Metro 7000, a 206-unit affordable housing community
 in Fort Worth, TX

 Fort Worth, TX — Comunidad Partners, a minority and women-owned real estate investment firm that specializes in workforce / affordable housing communities in culturally diverse neighborhoods, has recently acquired Metro 7000, a 206-unit affordable housing community in Fort Worth, Texas.

Antonio Marquez

“Forth Worth is a market that has undergone tremendous growth over the last few years and is closely aligned with our investment strategy,” says Antonio Marquez, Managing Partner at Comunidad Partners.

“Metro 7000 is a perfect fit for our affordable strategy and ESG / social impact focus as it’s located in a predominantly minority, underinvested area yet is dynamic and poised for growth.

"Our core investment focus is identifying, acquiring, and sourcing affordable and workforce housing in culturally diverse neighborhoods positioned for long-term growth throughout the sunbelt region.

 "In fact, Fort Worth is in the top 2% for the most diverse places to live in America and has been named as one of the fastest growing cities in the U.S.”

Richard Furr

Comunidad Partners plans to implement a series of interior and exterior renovations to the community, as well as add value through the implementation of its unique social impact programming.

            “We take a holistic approach to all of our investments,” explains Marquez.

“We invest beyond the asset itself and truly invest in our residents. With our specialized cultural management platform, we tailor programs at our communities to fit the needs and ethnicities within those communities.

"In doing so, we can build a sense of community and provide residents with the tools they need for success. This, in turn, contributes to long-term retention and reduced turnover at the asset.”

Brian O’Boyle Jr.

Richard Fur and Brian O’Boyle Jr. at Newmark Knight and Frank represented the seller. Comunidad Partners represented itself as the buyer.

Comunidad Partners has owned 30 assets totaling nearly 7,000 units throughout Texas.

Metro 7000 also features a host of community amenities including a clubhouse, pool, children’s play area, BBQ and picnic area, sports court, and a dog park, among many others. It is located at 7000 John T. White Road in Fort Worth, Texas.

CONTACTS:

Katie Haga / Lexi Astfalk

Brower Group

(949) 438-6262

khaga@brower-group.com

  Home - Comunidad Partners.

 

 

Once Listed at $35 Million, the Sprawling. Five-building Suzanne Somers Estate in Palm Springs, CA Now Going for $8.5 Million

 

Suzanne Somers (in earlier times)

PALM SPRINGS, CA -- The glamorous and sensual estate that Suzanne Somers and her charming TV-host-husband, Alan Hamel, created in Palm Springs and enjoyed for decades, has sold.

             Suzanne and husband Alan Hamel

 On and off the market over the years, it was relisted in January at $8.5 million, a dramatic price cut from its original $35 million in 2008. According to the New York Post, the sale contract was written at the full $8.5 million asking price.

Suzanne Somers' estate perched on a hill spanning 28 acres
and overlooking Mesa Canyon from Palm Springs, CA

A combination of the girl next door, a sexy blond bombshell, and a successful businesswoman, Suzanne has been a whirlwind since the 1970s, first, as the ditzy, Chrissy Snow, on Three’s Company and then as the motherly entrepreneur, Carol Lambert, on Step by Step.

Albert Frey

 In between, her life included marriage to Hamel, Playboy pictorials, spokeswoman for Thighmaster, best-selling author, breast cancer survivor, and a hot grandmother of three. Somers and Hamel have had one of the longest and most romantic marriages for decades and are still going strong.

 

Their longtime love nest perched on a hill spanning 28 acres and overlooking Mesa Canyon probably had something to do with the magic, states TopTenRealEstateDeals.com.

Modeled after L’oustau De Baumaniere in Provence, France, the couple combined their love of nature and elegance with the use of contrasts.

Twinkling crystal chandeliers hang in rooms of natural rock and reclaimed wood - rough against smooth, hard against soft - all in perfect balance.

There are five buildings to explore with 10,000 square feet of pavilions. One houses the master suite, a dining room that seats 32, the living room, a separate two-room kitchen, a 2,000-bottle wine cellar, and a stone guest house designed in the 1920s by Albert Frey.

Bobby Boyd 

There is also an outdoor amphitheater carved into the mountain that seats 50 and has a dance floor, as well as a pool, spa, hiking trails, and a natural waterfall that spills musically down the hillside. House access is via a private funicular, a golf cart, or a hillside of stone steps.

The couple, Suzanne now age 74, and Hamel age 84, are building another smaller home nearby and will stay in their current home until it is completed.

Josh Flagg 

The current house has too many steps and after she and Hamel recently fell down the steps requiring neck surgery for her, their new house will be easier to negotiate.

The new home will also use ecological building materials in its construction. The romantic pair are selling one love nest, but creating another one with all the magic that Somers excels at creating.

The property is listed with Josh Flagg and Bobby Boyd of Rodeo Realty, Beverly Hills.

 

CONTACT:

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

 

YouTube: https://youtu.be/0-1eEbQkHYk
Photo Credit:  Douglas Elliman
YouTube Credit:  Sean Evans, @evvo1991 backtothemovies.com/
Source: www.toptenrealestatedeals.com

 

Champion Real Estate Co. Acquires Former Fraternity House Near University of Southern California for $8 Million

Former fraternity house, re-named Victory House,
668 West 28^th Street, Los Angeles, CA

 

 LOS ANGELES, CA, May 14, 2021 — Champion Real Estate Company (“Champion”), announced today that it has acquired a former fraternity house located at 668 West 28^th Street in Los Angeles from Wall Street Properties, LLC for $8 million. 

 The property, located on Fraternity Row of the campus of University of Southern California, will be rebranded as Victory House. This building is the company's fifth student-housing property near the University of Southern California campus.

Garrett Champion

Champion Victory House, LLC, a subsidiary of Champion, will begin immediately on a complete overhaul of the 1906 constructed building which has seen several renovations over the years.

 Victory House will feature two community lounges and a study lounge.  It will be leased by the bed and all beds will be fully furnished including televisions and Sonos soundbars.

Michael Fukushima

"Despite the current student housing climate caused by the COVID pandemic, we at Champion believe now is a great time to acquire and renovate a property like Victory House near a top tier University in a severely supply constrained market," said Garrett Champion, Executive Vice President with Champion Real Estate Company.  "We will continue to look to acquire communities that fit ourbusiness plan."

Stephen F. Watson

Champion went on to say “the company operates three other student housing communities at USC under the Victory brand including Victory on 30^th, Victory on Ellendale and Victory on Portland. 

"Champion also obtained entitlements for a 102-unit community behind Greek Row at 806 West Adams Boulevard.”

Michael Fukushima and Stephen F. Watson of KW Commercial represented Champion and the seller.

About Champion Real Estate Company

                Founded by Bob Champion in 1987, Champion Real Estate Company is a family operated company which invests its own money alongside third-party investors across the risk spectrum of real estate in key primary markets across the United States.

Bob Champion 

Over the past 20 years, Champion has achieved over a 20 percent annual compounded return on investor equity by acquiring core plus, value add and opportunistic multifamily, retail, office, student housing and mixed-use properties. 

 

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

www.ChampionRealEstateCompany.com.

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

Ascent Golf Villas in Scottsdale, AZ Exceeds $40 Million in Sales, Highlighting Demand for Luxury Properties

Leslie Jenkins

 SCOTTSDALE, AZ, May 14, 2021 – Ascent at The Phoenician® is now releasing its luxury mountainside condominium residences for sale following the early sales success of its Golf Villa homes. 

Situated at the base of Camelback Mountain, overlooking the Phoenician® Golf Course and located adjacent to The Phoenician®, a Luxury Collection Resort in Scottsdale, Arizona, the private, gated community of Ascent has become one of Arizona’s most coveted new luxury real estate offerings. 

Joe Bushong and Leslie Jenkins of Russ Lyon Sotheby’s International Realty are the listing agents for Ascent at The Phoenician®.

Following the community’s early sales success of the Golf Villas, Ascent at The Phoenician® is now introducing their next release: an intimate residential building of 40 luxury condominium residences on Camelback Mountain consisting of one-bedroom plus den, two-bedroom, two-bedroom plus den, and three-bedroom plus den plans. 

Joe Bushong 

Prices are estimated to range from $1.5 million up to $5 million. An opportunity to get on the VIP Priority List to receive early information, plans, and preliminary pricing is now open.

 “These modern residences offer buyers the chance to live in a private, gated community that provides the freedom and benefits of luxury living in one of the most revered locations in Scottsdale,” said Todd Patrick, Replay Destinations’ vice president of sales and marketing. 

The Ascent Golf Villas have sold over $40M just two months after opening for sales. The initial offering of 30 Ascent Golf Villas began selling in mid-February. 

Todd Patrick

The Golf Villas include homes ranging from two-bedroom to three-bedroom plus den/office plans, extensive indoor-outdoor living, private two-car garages, and views of both the golf course and Camelback Mountain. Current prices range from $1,975,000 to $2,895,000. Construction of the Golf Villas is now underway.

“The ability to live in a private community adjacent to The Phoenician®, overlooking the first fairway of The Phoenician® Golf Course, next to Camelback Mountain and in a home that offers the rare combination of both luxury and low maintenance living is a once in a lifetime opportunity,” said Jeremy Pfile, director of development for Replay Destinations. 

Jeremy Pfile

The Ascent Golf Villas have attracted buyers from the local Phoenix and Scottsdale area and from various states such as California, Illinois, Wyoming and Washington.

 

 For more information on the remaining Golf Villa homes or to register for updates including Priority Registration for the first release of mountainside condominium residences visit ascentatthephoenician.com or call 480-534-4086.

 

 

CONTACTS:

Michelle McGinty, DRA Collective

Tel: (310) 704-7834

michelle@dracollective.com

 www.replaydestinations.com 

Rachael Myer Curley, Account Director      
717 E. Maryland Ave., Suite 110 | Phoenix, AZ 85014 
Ph: 602.956.8834 | C: 480.560.3255
www.dracollective.com