Park City, UT high-street retail property sells

Beth Copeland

 SALT LAKE CITY, UT – JLL Capital Markets   closed the sale of and arranged acquisition financing for The Kimball on Main Street, a 25,410-square-foot, fully leased, high-street, mixed-use retail asset with event and office space along the historic Main Street in the popular mountain town of Park City, Utah.

Chris Gerard

JLL marketed the property on behalf of the seller, Southern California-based Columbus Pacific. Stanton Road Capital, LLC acquired the asset. Additionally, working on behalf of the new owner, JLL arranged the acquisition loan.

 

The Kimball on Main Street is the defining trophy asset within Park City due to its irreplaceable location and elite tenancy.

 In 2018, Columbus Pacific completed a large renovation of the property, enhancing its trophy stature within this iconic downtown location while preserving its historic nature. 

The property now features a tenant lineup of popular high-street retailers, including LL Bean, Free People, We Norwegians, The Collective, Summit Gallery and Sunglasses Hut.

Geoff Tranchina

Positioned on 0.43 acres at 639 Main St., The Kimball on Main Street is at a highly visible location between Heber and Park avenues within Park City’s historic downtown. 

Park City is a fast-growing experiential mountain community that hosts the world-famous Sundance Film Festival and is surrounded by Utah’s iconic ski resorts. 

The area is home to the second wealthiest micro-population in the U.S. and contains high barriers to entry and strict zoning for new development.

 

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard, Managing Director Geoff Tranchina, Senior Director Phil Brierley and Analysts Robby Westerfield and Beth Copeland.

Phil Brierley

The JLL Debt Advisory team representing the new owner included Managing Director Chris McColpin and Managing Director Mark Root.

 

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.

 

Robby Westerfield

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

 

About Columbus Pacific

Since 1995, Columbus Pacific has been developing, redeveloping and acquiring Class A properties across the United States.

 Founding partners Brian Shirken and Rick Margolis each have over three decades of commercial real estate experience, with an emphasis on acquisitions, financing, leasing, management, development and operations.

 

About Stanton Road Capital, LLC

Chris McColpin

Stanton Road Capital, LLC (SRC) is a private investment management firm focused on direct real estate investments. With over $2 billion of assets under management, SRC owns and operates a national portfolio comprised of commercial real estate, residential and healthcare assets.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Mark Root

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce more than 98,000 as of December 31, 2021.

 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

 

Contact:

Kimberly Steele

PR, Capital Markets,

 Agency Leasing and

Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

 

She Has a Deal Announces CHMWarnick as Advisor & Educating Sponsor

 

Tracy Prigmore

TYSONS CORNER, VA — She Has a Deal (SHaD), a real estate investment platform that creates new pathways to hotel ownership and development for women, announced that CHMWarnick, the leading provider of hotel asset management and owner advisory services, will provide long-term guidance as an asset management advisor and “educating sponsor” for the organization to successfully operate the assets it acquires, develops and/or owns.

 “This generous investment enhances the knowledge and skills of our team to be at the cutting edge of asset management,” said Tracy Prigmore, founder, SHaD.

  “Our investors and partners can be assured that the hotel assets that SHaD has under management will benefit from the expertise and firsthand knowledge imparted by CHMWarnick, the leading hotel asset management company in the industry.”

Kristie Dickinson

CHMWarnick will share best practices on asset management, prepare training modules for SHaD participants, and leverage Proph+IT™, the company’s revolutionary technology platform that harnesses the power of big data from an ownership lens to optimize hospitality investments. 

“She Has a Deal has taken meaningful strides to advance the role of women and create a pathway for ownership in the hospitality industry, a category not nearly enough females currently occupy,” said Kristie Dickinson, managing director/EVP, CHMWarnick.

 “As a company, we recognize the hospitality industry still has a long way to go when it comes to gender diversity, equality and inclusion.

 "However, we are encouraged by the work being done by organizations such as SHaD and the Castell Project to challenge the status quo, elevate women to leadership roles and create investment opportunities.

 "By working with Tracy to develop a best-in-class asset management platform for SHaD’s hospitality investments, we can contribute directly to the success of this next generation of hotel owners while fashioning a structure of oversight and value creation that the investment community has come to expect and is synonymous with CHMWarnick.”         

 For more information, please contact 978.522.7002 or visit www.CHMWarnick.com. 

 For the latest company news, follow CHMWarnick on Twitter @CHMWarnick and LinkedIn.

 

Contact:

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.cbre.com.

 

CBRE Forecasts Continued Hotel Recovery in 2022 Despite Increasing Risks

 

Rachael Rothman

Dallas. TX – CBRE Hotels Research has raised its forecast for 2022 average daily rate (ADR), Occupancy and Revenue per available room (RevPAR) to reflect the stronger-than-expected fundamental performance in the fourth quarter.

Other factors contributing to the improvement include below-average supply growth, strong domestic leisure trends, the resumption of inbound international travel and a predicted return to office later this year.

 CBRE made the changes despite heightened uncertainty and increasingly limited visibility due to geopolitical risks and inflationary pressure.

 “Higher room rates will lead to a quicker return to 2019’s nominal ADR levels,” said Rachael Rothman, CBRE’s Head of Hotel Research & Data Analytics. “But from a profitability perspective, inflation will be a headwind through higher utilities, supplies and labor.”

Bram Gallagher

The effects of inflation on ADR won’t be uniform. Bram Gallagher, CBRE Senior Hotel Economist said, “Historically, most hotels can respond to inflation with price increases, but only luxury hotels have demonstrated that they can exceed the pace of inflation to achieve real gains. Economy hotels have the most difficulty raising prices enough to keep up.”

 CBRE now forecasts RevPAR to reach 2019 nominal levels by Q3 2022 under CBRE’s base case scenario, rather than in Q3 2023, as previously forecasted.

The March 2022 edition of Hotel Horizons for the U.S. lodging industry,65 major markets, the six hotel chain scales and six location types can be purchased by visiting: https://pip.cbrehotels.com.

 

 

Contacts:

Kris Hudson

+ 1 214 863 3650

kris.hudson@cbre.com

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.cbre.com.

 

Stream Realty lands financing for The Quad, a new Uptown Dallas mixed-use development

 

Kristi Leonard

DALLAS, TX –– JLL Capital Markets has arranged financing for the development of The QUAD, an exciting mixed-use development totaling more than 487,000 square feet of office and retail in the heart of Uptown Dallas.

 JLL worked on behalf of the borrower, Stream Realty Partners, to secure the construction loan through MSD Partners, L.P.

Colby Mueck

The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Colby Mueck and Jim Curtin, Managing Director De’On Collins and analysts Rex Cruz and Kristi Leonard.

 Stream acquired the 3.8-acre site in 2019 and has secured approvals to accommodate additional height and density requirements.

As such, the redevelopment will include the existing 131,000-square-foot office building alongside a brand new 335,000-square-foot creative office tower and five standalone retail bungalows totaling 14,800 square feet that will work together in concert to create a highly amenitized urban core destination.

 Boasting a 90+ WalkScore, The QUAD has an unrivaled Uptown location between Cedar Springs Rd. and McKinney Ave. and is within walking distance to more than 150 restaurants and bars, 25,000 multi-housing units, performing arts venues and urban green spaces such as Klyde Warren Park and the Katy Trail.

Jim Curtin

Planted among a strong and growing demographic base, The QUAD provides an opportunity for office and retail tenants alike to cement themselves in a location that has proven valuable to a desired demographic base.

The project’s cutting edge smart tech and world class digital art installation, along with its location, will serve as a marketing tool for office tenants to assist in the recruitment and motivation of the nation’s top talent while generating daily activation for the retail tenants.

 For the second consecutive year in a row, Dallas has been ranked the number one market for commercial real estate by Real Capital Analytics.

 Dallas has witnessed a 22% population growth from 2010 – 2020, outpacing the U.S. average three times and continues to see roughly 400 residents per day move to the Dallas Fort Worth metroplex.

 De’On Collins

In addition, the city has seen more than 144 corporate headquarters relocations in that same timeframe and there is strong job growth predicted through 2023 and beyond.

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

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.

 About Stream Realty Partners LP

Stream Realty Partners (Stream) is a national real estate services, development, and investment company. To learn more about Stream, please visit: streamrealty.com.

 

Rex Cruz

About MSD Partners

MSD Partners, L.P. is a leading investment firm focused on maximizing long-term capital appreciation across its core areas of investing expertise – Credit, Growth, Private Capital and Real Estate. 

The Firm deploys capital on behalf of Dell Technologies founder and CEO Michael Dell and his family, as well as other like-minded, long-term-oriented investors. 

MSD Partners operates from offices in New York, Santa Monica and West Palm Beach. For further information, please visit msdpartners.com.

  

 Contact:

Kristen Murphy

JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

 jll.com.

 

KAI Enterprises Hires Shawn Lewinski, CPA as Vice President of Finance

 

Shawn Lewinski

 St. Louis, MO -- KAI Enterprises is excited to announce it has hired Shawn Lewinski, CPA, as its new Vice President of Finance.

 

In his new role, Lewinski is responsible for providing enterprise leadership in the areas of financial planning and analysis, mergers and acquisitions and project controls.

Michael Kennedy, Jr.

“Shawn is a true asset to our leadership team. Throughout his career he has consistently demonstrated outstanding communication, decision-making and team building skills, coupled with a superior knowledge of finance and accounting,” said KAI Enterprises CEO Michael Kennedy, Jr. “He is a true industry professional.”

 

Lewinski has a Bachelor of Science in Accounting from the University of Missouri at Columbia.

 

Prior to KAI, he was the Head of Accounting and Credit Risk for EGA America, Inc. of St. Louis where he supervised a team of six accountants, provided support to the sales and logistics teams, plus assisted with contract negotiations and procurement of logistics services.

 

 Contact:

 Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

M/I Homes' Area President David Byrnes Retires After 40 Years in the Building Industry

David Byrnes

LAKE MARY, FL –  Area President David Byrnes of M/I Homes, one of the nation’s leading builders of single-family homes, retired on March 15, after more than 40 years in the homebuilding industry.

 With 20 of those years as M/I’s area president, late last fall Byrnes conveyed his plan to embark on the next chapter of life to Columbus-based CEO Robert Schottenstein and corporate leaders. 

 

Complimenting the CEO’s team for cultivating an extraordinary company culture, Byrnes stated: “I have truly appreciated this company’s concept that area management knows their market and is empowered to make decisions at the local level.” 

Robert Schottenstein

Schottenstein expressed in a company-wide email that Byrnes epitomized the best in homebuilding leadership throughout his tenure. 

 

“David consistently displayed strong character and integrity and his teams performed at exceptionally high levels in both good times and challenging times,” he said.

 

Byrnes previously held division presidency positions with Catalina and Beazer Homes.

 

  

 Contacts:

 

David Byrnes, Outgoing Area President, M/I Homes, 407-531-5100

 

Brent Bartholomew, Incoming Area President, M/I Homes, 407-531-5100

 

Beth Payan, Larry Vershel Communications Inc. beth@larryvershel.com 407-461-3781

Seefried Acquires 31-acre Site for Proposed 273,576 SF Distribution Center in Cartersville, GA

Cassville 75 Distribution Center,
 a new 273,576-square-foot Class A
speculative industrial development
in Cartersville, GA

 

CARTERSVILLE, GA, March 16, 2022 – Seefried Properties, a national real estate firm specializing in industrial development, has announced plans for the development of Cassville 75 Distribution Center, a new 273,576-square-foot Class A speculative industrial development in Cartersville, Georgia. 

Doug Smith

The project, located at the intersection of Cassville White Road and Old Grassdale Road, spans 31.8 acres within the Northwest Atlanta Industrial Submarket and will offer convenient access to major transportation routes including Interstate 75. 

 Construction is expected to begin in May 2022, with delivery scheduled for April 2023.

 “We are excited to bring our new project to the burgeoning Cass White Corridor," said Doug Smith, Senior Vice President of Seefried.

  "This new building will be an attractive option for the industrial warehouse users clamoring for space along the Interstate 75 corridor from Atlanta to Chattanooga.” 

Joseph Kriss

The building will provide best in class specifications including 36’ minimum clear height with 185’ minimum truck court depth, ESFR sprinklers, and 39 dock-high loading positions with a front-load configuration to support high-throughput logistics operations. 

The project will also include office space customized to suit as well as abundant auto and trailer parking on a secure fenced site.

 Leasing efforts for the project will be led by the Joseph Kriss, Tripp Ausband, and Doug Smith of Seefried as well as Matt Bentley of NAI Brannen Goddard. 

Tripp Ausband

 

The project is designed by Atlas Architecture.  The civil engineer is Eberly & Associates and FCL Builders is serving as the general contractor.

About Seefried Properties:

Founded in 1984 by Ferdinand Seefried, Seefried Properties specializes in the development, leasing and management of industrial real estate in key markets across the U.S. 

 Seefried leases and manages approximately 40 million square feet for its institutional and European clients and has developed, or is in the process of developing, approximately 190 million square feet of space valued in excess of $17 billion across 120+ markets.  

Matt Bentley 

Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles, and Phoenix. 

 Contact:

Barbara Bennett
Marketing Coordinator

T: 520.661.9641

E: bbennett@seefriedproperties.com

 www.seefriedproperties.com

 

Island Hospitality Management Promotes Two Senior Team Members, Drew Allison and John Marques, to Executive Vice President Roles

 

Gregg Forde

WEST PALM BEACH, FL —Officials of Island Hospitality Management, the premier third-party management company for select-service and upscale extended-stay hotels in the United States, announced the company has promoted Drew Allison and John Marques to executive vice presidents of operations. 

“Drew and John both have been with Island for more than 15 years and in that time, they have helped us grow into the leading third-party hotel management company we are now,” said Gregg Forde, COO, Island Hospitality Management. 

“Both rose through our ranks from property- to executive-level positions.  Without their knowledge and expertise, Island would not enjoy the success it does today.”

 Drew Allison

Drew Allison

            Allison began his career with Island Hospitality as manager of the Residence Inn, Silicon Valley II in 2005.  During his tenure with the company, he has worked in 11 different roles across the United States including area manager, regional vice president and senior vice president of operations.  Allison received his Bachelor of Science in General Business Administration and Management from California State University, Chico.

John Marques

               A 30-plus-year hospitality veteran, Marques joined Island Hospitality as regional director of operations in 2006.  Previous roles include regional vice president for Musselman Hotels and senior vice president for Magna Hotels.

  Marques was instrumental in developing and implementing Island Hospitality’s TEAM concept, a highly regarded program that improves associate relations by creating culture and recognizing individual and team efforts. 

 CONTACT:

Chris Daly, media

chris@dalygray.com

(703) 864-5553