JLL Capital Markets leads $26 million sales effort for historic Hardware Block, a brick and timber office property in Denver, CO

Hardware Block, a 54,125-square-foot,
 boutique office building in Denver’s
 Lower Downtown (LoDo) District.

 

DENVER, CO – JLL Capital Markets closed the $25.8 million sale of Hardware Block, a 54,125-square-foot, boutique office building in Denver’s Lower Downtown (LoDo) District.

 JLL represented the seller, Unico Properties, and procured the buyer, Asana Partners. Additionally, Asana Partners has engaged JLL Property Management to handle management of the property.

Hilary Barnett

 Originally built in 1895, Hardware Block is a brick and timber building offering four stories of creative office space with exposed timber beams, 12-16’ ceiling heights and operable windows to maximize natural light and fresh air.

 In addition, the property has an elevator-served subterranean parking garage, which is a unique feature for buildings of this vintage. Hardware Blocks is fully leased to two tenants.

Mark Katz

Hardware Block is positioned at 1515 – 1527 Wazee in LoDo, the submarket that has maintained the highest levels of leasing activity in Denver’s central business district. 

LoDo is anchored by Denver’s Union Station and provides a wide variety of restaurants, boutique hotels and residential developments alongside marquee destinations such as Coors Field, Dairy Block and Market Station.

 Peter Merrion

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Mark Katz, Managing Director Peter Merrion and Senior Director Hilary Barnett.

 "Hardware Block is one of Denver's finest examples of historic brick & timber buildings and was well received by the market,” Merrion noted. “The purchaser is very excited to add this property to their unique Denver portfolio".

 CONTACT:-

 Kristen Murphy

Senior Manager

 Public Relations, Investor Services

JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 jll.com

unicoprop.com.

asanapartners.com.

 

5th Annual California Lodging Investment Conference [CLIC] Announces Final Speakers and Additional Sponsors & Exhibitors for 2022 Event on March 10 at JW Marriott Anaheim Resort, Anaheim, CA

Craig Sullivan

 ANAHEIM, CA, Feb. 9, 2022—Officials of the California Lodging Investment Conference [CLIC], the only hospitality conference focused on the California hotel market, today released its final slate of speakers and updated its sponsor and exhibitor lists. 

Scheduled for March 10 at the JW Marriott Anaheim Resort, the one-day event is expected to draw approximately 300 attendees, including representatives from 11 brands, six lenders and other third-party hotel professionals.

Vanessa Mange

 “Prior to this update, we already were more than pleased with our existing roster of speakers and panelists,” said Craig Sullivan, founder and president, [CLIC]. 

“We have since added expert speakers from Virgin Hotels, Prospera Hotels, Kay Lang + Associates, Twenty Four Seven Hotels, the Latino Hotel Association and JMBM. 

Allie Hope

Groups as varied as the International Hospitality Institute to Sonesta continue to sign on as sponsors as well.  With this stellar line-up, we expect this to be one of our most informative and useful conference to-date.”

 New Speakers include:

·         Mike Castro, SVP, Franchise Sales and Development Select Service Brands – US and Canada at Sonesta Hotels

• Vanessa Mange, Director of Acquisitions & Development, West Coast and Latin America at Virgin Hotels
• Allie Hope, Virgin Hotels
• Ajesh Patel, President and Chief Executive Officer of Prospera Hotels, Inc.
• Swati Valbh-Patel, Senior Vice President of Development and Design of Prospera Hotels, Inc.
• Ron Kim, Chief Operating Officer of Prospera Hotels, Inc.
• Kay Lang, President and CEO of Kay Lang + Associates
• David Sudeck, Partner at Jeffer Mangels Butler & Mitchell, LLP
• Ryan Mazelli, Managing Director, Commercial of Ygrene Energy Fund
• Gary Gray, Chief Investment Officer of Twenty Four Seven Hotels
• Lynette Montoya, CEO of the Latino Hotel Association

 

Kay Lang

 New Sponsors include:

 

• International Hospitality Institute
• Sonesta
• Twenty Four Seven Hotels

 

New Exhibitors include:

 

• G6
• Beddingo
• HR Construction Group
• Kohost
• Corning Optical Communications

 

Lynette Montoya

The newly announced groups join such industry luminaries as Suzanne Mellon, senior managing director/practice leader, HVS; Jenny Redlin, founder and principal, Partner Engineering and Science, Inc.; Jackie Collins, senior director, Arthur J. Gallagher’s Real Estate and Hospitality Division; and Glenn Haussman, president, Rouse Media. 

Suzanne Mellon

Discussion topics will include hotel brands, an overview of the California hotel market, hotel development, hotel lending and hotel investment opportunities.  The conference also will announce Deal of the Year and Lifetime Achievement Award recipients.

Jenny Redlin

About [CLIC]

 The California Lodging Investment Conference is the nation’s only hospitality conference focused exclusively on the California hotel market. 

Jackie Collins

Now celebrating its 5th year, the day-long event draws some of the industry’s largest and most well-known owners, operators, brands and hospitality-related experts in the world. 

 

CONTACT:-

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 

Donohoe Hospitality Services Announces Senior Promotions

 

Cheryl Haughton 

BETHESDA, MD, Feb., 2022 – Thomas Penny, III, President of Donohoe Hospitality Services, a division of Donohoe, today announced two senior promotions—Cheryl Haughton to vice president, new builds, transitions & major renovations and Michael Golembe to vice president of operations. 

Michael Golembe

In her new role, Haughton will be responsible for working in collaboration with Donohoe’s development team on new hotel developments and hotel openings, while overseeing acquisitions and major hotel improvements. 

 Meanwhile, Golembe will be responsible for optimizing the company’s overall portfolio performance.

 “Donohoe Hospitality Services could not have reached the heights we have today without the dedication and hard work of tireless leaders such as Cheryl and Michael,” Penny said. 

“With more than 50 combined years of hotel experience at virtually every position at the property level before transitioning to corporate roles, Cheryl and Michael epitomize the true spirit of hospitality. 

Thomas Penny, III

 "I am thankful for everything they do and look forward to both helping Donohoe continue to grow.”

Cheryl Haughton

 

A two decade-plus hospitality veteran, Haughton joined Donohoe Hospitality Services in 1992 and most recently was regional director of operations, full service and lifestyle hotels.  

 

Michael Golembe

 

Most recently serving as regional director of operations, focused service and extended stay hotels, Golembe joined Donohoe Hospitality Services as a general manager in 2009.

About Donohoe Hospitality Services

 Founded in 2005, Donohoe Hospitality Services is a division of Donohoe, an iconic real estate service company established in 1884. 

Building on its founders’ 135-year history, Donohoe Hospitality Services has grown to become one of the largest independent hotel management companies in the Washington, D.C.-metro area and is rapidly expanding throughout the U.S. 

 CONTACT:-

 Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.donohoe.com/hospitality

JLL Capital Markets closes sale of eight-building light industrial property in Atlanta'sWest Midtown area

Seaboard Park, an eight-building
 light industrial complex totaling
 267,442 SF in Atlanta’s
 West Midtown area.

 

 ATLANTA, GA, Feb. 8, 2022 – JLL Capital Markets has closed the sale of Seaboard Park, an eight-building light industrial complex totaling 267,442 square feet in Atlanta’s West Midtown area.

Maddie Davis

JLL marketed the property on behalf of the seller, a partnership between SilverCap Partners, Weaver Capital Partners and The Seng Company. Link Logistics acquired the asset.

 Seaboard Park is 95 percent leased to six tenants in diverse industries, including Georgia-Pacific, InterContinental Hotels Group, Zep and Door Dash. The property offers the tenants features such as multiple loading positions and ample parking.

Matt Wirth

From its irreplaceable location at 1310 Seaboard Industrial Blvd NW, Seaboard Park’s tenants can reach over 1.5 million people – comprising the majority of their respective customer bases – in under 30 minutes.

The facility is proximate to some of Atlanta’s critical logistical infrastructure, including Interstates 75 and 285, the Norfolk Southern – Inman Rail Yard and CSX Howell yard.

Additionally, it is in Atlanta’s Upper Westside, a rapidly developing extension of West Midtown that provides proximity to Buckhead, Midtown and the Northwest Atlanta suburbs.

Huston Green

The facility is within the Atlanta’s Chattahoochee Industrial submarket, a highly sought-after, infill submarket.

According to JLL Research’s Atlanta Industrial Insight report, this submarket ended the fourth quarter of 2021 with a low 4.1 percent.

Additionally, with no completions and no space currently under construction at the end of 2021, competition for space is high for both tenants and investors attracted to infill industrial product.

 The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Matt Wirth, Huston Green, Dennis Mitchell, Britton Burdette, Jim Freeman and Maddie Davis, with assistance from Joseph Rogers and Jamie Hargather with Wilson Hull & Neal.

Dennis Mitchell

 “The deep and varied buyer pool for Seaboard Park was evidence of the continued demand for irreplaceable infill industrial assets,” Wirth said.

"Along with the extreme growth potential in rental rate from an industrial perspective, the Upper Westside location also means there’s unique long-term upside and flexibility with the potential for adaptive reuse.

"It’s rare to find those qualities while also having a significant credit story, which the seller was able to put together in leasing the buildings to tenants like Georgia-Pacific, IHG, DoorDash and Saltbox.”

Britton Burdette

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 and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

Jim Freeman 

About SilverCap Partners

SilverCap Partners is a real estate private equity firm focused on the Southern Sunbelt region of the United States.

 The firm's expertise crosses multiple property sectors with a predominant focus on industrial, residential and office investments.

SilverCap operates in segments of the real estate market where it has high conviction in the long-term demand drivers and believes a combination of capital and operational expertise can serve as a positive catalyst for future value.

 About Weaver Capital Partners

Weaver Capital Partners was formed in 2013 and primarily focuses on value-add real estate. The company was founded by Jay Weaver, who is based in Charleston, South Carolina, and develops office, industrial, retail and mixed-use properties in the Southeastern United States. 

Jay Weaver

During his 25-year history in real estate, he has capitalized on exploiting trends, finding untapped value and avoiding marketplace competition. 

His development experience includes both renovating and repositioning buildings as well as ground up construction. 

Projects include Puritan Mill in Atlanta, Edgehill Village in Nashville and the Cigar Factory in Charleston.

 About The Seng Company

The Seng Company is a private real estate investment firm that is active in acquiring or capitalizing commercial and residential real estate in the Southeast. 

 Joseph Rogers 

The firm seeks opportunistic and value-add investments across all major commercial property types including office, industrial, retail, residential, hotels and mixed-use projects. 

While applying their strict investment discipline, The Seng Company has the ability to provide capital in a broad range of debt or equity structures and positions within a project’s overall capitalization. 

The Seng Company’s success in realizing attractive risk-adjusted returns is rooted in our adherence to an investment discipline focused on value and risk control.

 About Link Logistics

Link Logistics, established by Blackstone in 2019, is a leading national provider of logistics real estate solutions designed to meet the needs of the modern supply chain. 

Jamie Hargather 

The company operates the largest portfolio of high-quality logistics real estate assets located exclusively in the U.S. 

Link Logistics has more than 5,800 customers and 400 million square feet of logistics facilities across key distribution markets, particularly strategic last-mile locations in the U.S.

 Link Logistics has the scale, geographic footprint and logistics expertise, as well as a heightened focus on sustainability to power the supply chain of tomorrow.

 About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

   CONTACT:

Kimberly Steele

PR, Capital Markets,

 Agency Leasing and

Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

weavercapitalpartners.com

jll.com.

linklogistics.com.

 

The Real Estate Capital Institute® notes commercial investors scrambling to redefine ownership strategies

John Oharenko

CHICAGO, IL – Inflation reached a 7% CPI in December, the highest level in 40 years.  And the new year, the benchmark 10-year treasury climbed nearly forty basis points, finally settling at about thirty basis points. 

 As a result, real estate investors scramble to redefine ownership strategies under such conditions.

John Oharenko, Director of The Real Estate Capital Institute®, notes "the realty markets continue evolving beyond simple capital budgeting principles by incorporating civic responsibilities as key ownership objectives."

 

Managing income streams surfaces as one of the main targets for inflation control.  Beyond raising revenues at inflation growth rates and internal cost-cutting measures, investors need to pay attention to various other factors, including the following:

 

Legislative Actions:   The recently passed, one-trillion dollar federal infrastructure bill positively affects the industry.  However, local and regional infrastructure funding gaps exist, forcing more municipalities to levy higher property taxes, an ongoing concern. 

 

 As for income opportunities, America faces an extreme housing shortage, at about 2.5 million units.  

 

Policymakers continue expanding workforce and affordable housing ownership and development initiatives, including favorable financing, tax breaks, and other incentives.

 

Civic Responsibilities:  Environmental, Social Governance ("ESG") compliance creates demand for moving beyond profitability as a key performance metric.  

 

Investors focus on creating more sustainable projects for communities to benefit from, based on the theme of "making the world a better place to live." 

 Income and expense management targets better redeployment of human and natural resources by creating a more inclusive and diverse employment base while targeting "green" development.

 

Automation:  Labor shortages, supply chain disruptions, security, and other significant concerns vex investment planning, both short and long term.  

 

Simultaneously, dramatic improvement in "smart" technologies driven by artificial intelligence help tackle some misgivings. 

Overall costs of implementing such technologies are now well within reach of the real estate industry for creating more efficient property operations.

 

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, and bank prime.  

 

  CONTACT:

John Oharenko 

john.oharenko@reci.com

Executive Director

director@reci.com / www.reci.com

 

^The   Real Estate Capital Institute^®

Chicago, Illinois USA 60622

Nadel Architecture + Planning Names Anthony Sanchez as a principal and shareholder

Anthony Sanchez

 

 LOS ANGELES, CA, Feb. 7, 2022 – Nadel Architecture + Planning, Los Angeles’ premier architecture and design firm, has continued its strategic expansion and commitment to creating a best-in-class leadership team with the appointment of Design Director Anthony Sanchez as a Principal and Shareholder in the firm, according to Greg Lyon, Chairman of the Board and Principal at Nadel.  

 

Greg Lyon,

“Anthony has helped to drive the elevation of Nadel significantly over the past two years,” says Lyon. “His extensive background in designing and executing large-scale experiential shopping destinations gives him the strong foundation needed to undertake today’s various urban-infill retail and mixed-use projects, for which we are seeing an increasing demand."

 Before joining Nadel as Design Director in 2020, Sanchez served as senior project designer for L.A.-based URW (Unibail-Rodamco-Westfield), where he led the exterior design for the $1.2 billion Westfield Century City project.

  CONTACTS:

Anthea Davis / Elisabeth Manville 

The Smart Agency, Inc.   

(949) 438-6262  

andavis@thesmartagency.com   

  www.nadelarc.com.