Friday, April 29, 2022

Northridge Summit Office Building in San Diego, CA trades for $76 Million

 

 Lynn LaChapelle

SAN DIEGO, CA  JLL Capital Markets has closed the $76.1 million sale of Northridge Summit, a Class A, single tenant office building totaling approximately 130,000 square feet in San Diego, California.

 

JLL marketed the property on behalf of the seller, Davlyn Investments. The asset was purchased by

DivcoWest.

 

The JLL Capital Markets team representing the seller was led by Managing Directors Nick Psyllos and Lynn LaChapelle and Associate Kurt Luedtke.

 

Northridge Summit is located at 12220 Scripps Summit Dr., in the Scripps Poway Parkway submarket along the I-15 Corridor of San Diego.

 

Nick Psyllos 

The I-15 Corridor is home to many of San Diego’s technology and corporate headquarters.


Additionally, the submarket is adjacent to the STEM worker housing communities of choice, including Carmel Valley and Rancho Bernardo.

 

Northridge Summit features highly desirable 43,000-square-foot rectangular floorplates, one level of below grade parking, charging stations and a lush exterior courtyard. Northridge Summit is 100% leased to an AA+ rated technology company.

 

Kurt Luedtke

The property is highly visible from the I-15 freeway and is proximate to numerous shops located within the Scripps Ranch Marketplace.

 

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.


Northridge Summit Office Building,
 12220 Scripps Summit Drive, 
 Scripps Poway Parkway submarket
 along the I-15 Corridor of San Diego.


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.

 

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

 

CONTACT:

 

 Cierra Lacasse

JLL Associate, Public Relations

Phone: +1 602 648 8701

Email:  Cierra Lacasse@am.jll.com

 

jll.com.

www.divcowest.com

 

Thursday, April 28, 2022

Pangea Properties Welcomes Opening of ‘Artists on the 9’ Art Space in Chicago’s South Side Chatham Neighborhood

 Nedra Sims Fears
 

 

 CHICAGO, IL — Chicago-based Pangea Properties (Pangea), through its nonprofit 501(c)(3) community service arm, Pangea Cares, has partnered with The Greater Chatham Initiative (GCI) to launch Artists on the 9, an art gallery and workspace in Chicago’s Chatham neighborhood.

 

Representatives from Pangea and GCI were joined by city and state officials for a ribbon-cutting ceremony on Tuesday, April 26.

 

Located in a Pangea-owned property at 735 E. 79th Street in Chicago, Artists on the 9 is one component of a broader effort to develop the Mahalia Jackson Cultural District.


Dr. Betty Jean Howard

This initiative aims to reclaim vacant storefronts along 79th Street and convert them to fully functional workspaces and galleries for artists in the Chatham area.

 

“Our goals at Pangea include creating and maintaining quality housing for residents of underserved communities and working with local organizations to improve those neighborhoods for our residents,” said Derek Reich, chief operating officer of Pangea Properties.


 “It’s so rewarding for Pangea to be a contributor in the creation of this artists’ space, which can bring new opportunities for connection, personal growth, outreach and education to our residents and the greater Chatham neighborhood.”


 Derek Reich

The 1,400-square-foot storefront features three private workspaces, a gallery, an exhibition room and a kitchen.


Artists on the 9 will also be open to the community for gatherings and events, providing exposure for the artists’ work.

 

Pangea’s construction arm, Motus Construction, served as the construction contractor for the project and fully rehabilitated the formerly vacant space.

 

Artists on the 9 is a unique venture in the underserved Chatham neighborhood. The intent of the space and the ambitious Mahalia Jackson Cultural District initiative is to stimulate economic and social transformation in the area, particularly along the historic 79th St. corridor.


Artists on the 9, an art gallery
and workspace 
at 735 East 79th Street 
in Chicago’s Chatham neighborhood.

The space offers a haven for area artists to work and display their art, while simultaneously providing Chatham residents with a gathering space and exposing them to the artists’ work.

 

“Greater Chatham Initiative is thrilled to offer a makerspace for local artisans,” said Nedra Sims Fears, executive director of Greater Chatham Initiative.

 

“Their art provides an injection of beauty, inspiration and cultural representation into the community that is unmatched. We are excited to see the results.”


 Rep. Bobby Rush

The Artists on the 9 project was developed in honor of Dr. Betty Howard, a special education teacher at Gwendolyn Brooks Preparatory Academy.

 

 Dr. Howard was a notable leader in the community and a beloved educator who was fatally shot in 2014 while working at her second job at a real estate office formerly located in the space. 


“From pain and suffering comes community and creativity,” said Rep. Bobby Rush, speaking about the history of the area and hope for the future at the opening of the artists’ space. “This is indeed a renaissance moment.”



Ald. Roderick Sawyer (6th)

“I think that this is going to be the impetus … to make sure that we have cultural events and cultural identity here on 79th Street and all throughout the ward and the South Side of Chicago,” said Ald. Roderick Sawyer (6th). 


“This is going to be a crime fighting initiative … because once people know more about themselves and become proud of who they are, violence decreases naturally.”


About Pangea Properties:

 

Pangea Properties is a Chicago-based private real estate investment trust founded in 2008 by Al Goldstein to provide quality, affordable housing.


Al Goldstein

Pangea Properties acquires value-add apartment buildings and renovates them as workforce housing, investing almost $500 million in 12 years to acquire and rehabilitate almost 13,000 units in Chicago, Indianapolis and Baltimore.

 

About The Greater Chatham Initiative:

 

The Greater Chatham Initiative is an organization charged with developing and driving the implementation of a comprehensive strategy to revitalize the Chatham, Auburn Gresham, Avalon Park and Greater Grand Crossing neighborhoods on Chicago’s south side.


CONTACTS:


Matt Baker, mbaker@taylorjohnson.com

 (312) 267-4512

 

Gretchen Muller, gmuller@taylorjohnson.com

(312) 267-4511

 

Once Listed for $70 Million, England’s Pop King Robbie Williams Sells His Home To Canadian-born rap musical star Aubrey Drake Graham for $75 Million, then Buys Fannie Brice Mansion in California for $49.5 Million

Robbie Williams and wife Ayda Field


 HOLMBY HILLS, LOS ANGELES, CA -- After splitting from the popular British boy band, Take That, Robbie Williams has become one of the all-time, best-selling British singer-songwriters, selling over 75 million records worldwide. 

 He also set a world record by selling 1.6 million concert tickets in just one day, according to TopTenRealEstateDeals.com.


Fannie Brice

As most of the mega-wealthy have been doing, Williams and his American-actress wife, Ayda Field, have been sinking their fortune of approximately $300 million into some of the most glamorous real estate on the planet.

 

  The Faring Estate, their most recent purchase, was the former home of Fannie Brice, the original Funny Girl. 




Totally updated, and at one time listed as high as $70 million, Williams purchased the Holmby Hills home for $49.5 million.   

 The main house, with an attached and two separate guest houses, is found behind the double-gated entry, located on just under two private acres. 

 There is a circular motor court and a second gated motor court with a garage, which will accommodate 15 or more cars.

 



The two-story house has an impressive light-paneled foyer with a spiral staircase and inlaid wood floor.  It opens into a large-and-cheerful main living room with sunshine pouring through the large windows. 

 

Dental molding surrounds the ceiling and many Old World artisan touches are still evident. 




The formally paneled wide entry into the library currently shows its whimsical side with a large quirky piece of artwork hanging between the two entry doors.

 

The formal dining room will seat 12 comfortably and above its wainscotting is scenic wallpaper of trees over water. 

 

Encompassing 18,925 square feet, the compound has eight bedrooms and eleven baths. 



The luxurious primary suite in the main house has a fireplace in the sitting area and what every couple dreams of: elegant separate baths, his with a masculine vibe and hers much more feminine with its own salon hair station. 

 

 Additionally, there is a chef’s kitchen with breakfast nook, a book-lined study with views over the grounds and a comfortable family room with fireplace.




In addition to a spacious lawn for rambunctious children, everyone will enjoy the pool and pool house with its fitness center. 

 

A rousing game of tennis can be played on the pristine tennis court and for those who like to grow organic, there is a brick-paved, raised-bed, vegetable-and-flower garden, as pretty as it is functional. 





 There is also a long koi pond with tiny fountains along the sides where one can sit on a bench and enjoy quiet contemplation.


Former 18,925-SF Home of Comedien Fannie Brice


The Holmby Hills mansion isn’t the first U.S. home Williams has owned. After selling his last home to Drake in early 2022 for $75 million - almost $43 million more than he paid for it in 2015 - he has now captured one of LA’s most storied and lovely homes for his family of six.


CONTACT:

 

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3725
Twitter:  @toptenrealestat
Facebook.com/toptenrealestat
e

 

 Photo credit:  Courtesy of Compass

Sources:  TopTenRealEstateDeals.com   and www.compass.com
Video:  https://youtu.be/sej849v7TcA 
Video Credit Sean Evans, @evvo1991 https://www.backtothemovies.com/
 

Wednesday, April 27, 2022

Daum Commercial completes long-term lease of 4.4-acre land parcel featuring industrial and office space in Orange County, CA

Approximately 4.4-acre land parcel encompassing
two buildings totaling 14,019 square feet
of corporate offices, showroom, and
 warehouse space in Buena Park, CA.
(Photo courtesy of DAUM Commercial)
 

 BUENA PARK, CA – DAUM Commercial Real Estate Services recently completed the lease of an approximately 4.4-acre land parcel encompassing two buildings totaling 14,019 square feet of corporate offices, showroom, and warehouse space in the Orange County submarket of Buena Park, California.

Chris Migliori, SIOR, an Executive Vice President at DAUM Commercial, represented the lessor, Cal Hickel Holdings, LP, in the transaction, securing a 74-month lease to a tenant whose operations are ideally served by the property. 

Chris Migliori
The property is located at 7015 Knott Avenue in Buena Park, California and situated near major highways including State Route 91, Interstate 5, and Interstate 605. 

The total consideration of the lease is more than $5 million.

“Our client had a prime, central Southern California location available that presented the potential to be utilized or adapted for a wide variety of uses, including warehousing and distribution, vehicle sales, or a parking lot,” explains Migliori.

“Through successful marketing of the property and a strategic evaluation of prospective lessees, we ultimately identified an automobile wholesaler and storage business that saw strong value in the asset’s existing facilities and 20:1 parking ratio.”

   

CONTACTS:

 

Arleeny Escarcega / Elisabeth Manville  
The Smart Agency, Inc.
(949) 438-6262 
aescarcega@thesmartagency.com

www.daumcommercial.com.

Stan Johnson Co. Brokers $8 Million Sale of Dental Office in Charleston, SC Suburb

Teresa Lovely 
 

 HANAHAN, SC -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 15,030-square-foot healthcare facility leased to Coastal Kids Dental and Braces.

The property is located at 996 Tanner Ford Boulevard in Hanahan, South Carolina, a northern suburb of Charleston.

 

Jeff Enck

Stan Johnson Company’s Jeff Enck and Teresa Lovely represented the seller, a locally based private investor. The asset was purchased by a group of 1031 exchange investors from California.

 The property traded for approximately $8.2 million reflecting a 5.84 percent cap rate.

 “We were able to procure multiple offers on the property and ultimately closed with a West Coast 1031 exchange buyer who purchased the asset all-cash,” said Enck, Associate Director in Stan Johnson Company’s Atlanta, Georgia office.

15,030-square-foot healthcare facility
 leased to Coastal Kids Dental and Braces
 at 996 Tanner Ford Boulevard, Hanahan, SC

“Medical net lease properties, particularly those with rental increases, continue to be in favor with investors as inflation rises.”

 The two-story property was built in 2017 and is situated on 1.52 acres. The flagship location houses the tenant’s dental and orthodontic practice as well as its office support and executive staff.

 CONTACT:

 David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.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.”

 www.stanjohnsonco.com.

 

Peachtree Hotel Group Promotes Brian Leaf to Vice President, Capital Markets, Head of Internal Sales

 

 Brian Leaf

ATLANTA, GA – Peachtree Hotel Group ("Peachtree") announced that Brian Leaf has been promoted to vice president and head of internal sales for its broker-dealer (“B/D”) affiliate.

 Since joining Peachtree in 2017, Leaf has been instrumental in establishing Peachtree's brand in the independent broker-dealer (“IBD”) and registered investment advisor (“RIA”) channels, having helped secure more than $500 million in equity funding.


Robert (Rob) Woomer

 In his expanded role, he will continue to identify opportunities and broaden funding sources with financial advisors with a keen focus on assuming a greater leadership role in guiding the strategy and direction of the internal sales team.

 

“Brian has been an invaluable resource in expanding Peachtree’s access to equity partners. He has quickly formulated programs that allow us to strategically build strategic relationships with the highest quality financial advisors in the industry” said Rob Woomer, Peachtree’s president of capital markets.

 

  

CONTACTS:

 

Charles Talbert

Corporate Communications Director

678-823-7683

ctalbert@peachtreehotelgroup.com

 

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 www.peachtreehotelgroup.com