Stan Johnson Co. Hires Sam Crowe to head its newest regional office in Denver, CO

 

Sam Crowe 

 DENVER, CO -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, announced Sam Crowe has joined the firm as an Associate Director and will lead the company’s newest regional office in Denver, Colorado.

Crowe specializes in the acquisition and disposition of multi-tenant and single-tenant net lease investment assets throughout the mountain states region.

He previously worked with Avison Young as a Senior Associate in the Denver market for six years. Prior to Avison Young, he was a Junior Associate at Katz Properties Retail in New York City.

 Before joining the commercial real estate industry, Crowe spent nine years in modular construction in the development of multifamily and single-family homes.

Curtis Hodges

With the opening of the Denver office, Stan Johnson Company operates 15 regional offices in addition to the Tulsa, Oklahoma headquarters. This is the company’s sixth West Coast office.

                “We’re excited to be opening the Denver office with Sam Crowe,” said Curtis Hodges, Senior Vice President.

 “Sam is a great addition to our firm and aligns perfectly with the values of Stan Johnson Company. He is an advisor to his clients and has an excellent track record in the mountain states.

"We’re looking forward to Sam providing value to his clients with our platform and team behind him.”

CONTACT:

 

   David Ebeling

 Ebeling Communications

 (949) 278-7851

 david@ebelingcomm.com

 

Adam Dembowitz joins JLL’s Valuation Advisory group

         

Adam Dembowitz

CHICAGO, IL– JLL’s Valuation Advisory group has hired Adam Dembowitz as a Managing Director in its Denver office. Dembowitz will focus on driving growth and expanding the group’s West Coast platform in Colorado and California.

 

Dembowitz joins JLL with nearly 20 years of real estate experience spanning valuation advisory, consulting, sales and leasing, construction administration, development, and property management.

 

“Valuation advisory services have been in high demand and our group is continuing to grow as the market dictates,” said Tony Lenamon, Americas Head of Valuation Advisory.

Tony Lenamon

“The West Coast market is an important region for our team, and we’re excited to have a professional with Adam’s depth of understanding in the space and deep bench of client relationships to expand our offerings and services to our valued clients throughout the Western U.S.”

 

Dembowitz will report directly to Lenamon and continue to build out the group’s services across all property types in the Western region. He is a designated member of the Appraisal Institute and an active member of the Colorado chapter of the Appraisal Institute.

CONTACT:

  Kristen Murphy, JLL Director, Public Relations

Phone: +1 617 543 4873

Email:  Kristen.Murphy@am.jll.com

 

Investor purchases open-air retail center in Indiana

Orchard Crossing, a 130,100-square-foot,
 open-air, Target-shadow-anchored retail
center located in Fort Wayne, IN

 

CHICAGO, Aug. 11, 2022 – JLL Capital Markets announced today that it has closed the sale of Orchard Crossing, a 130,100-square-foot, open-air, Target-shadow-anchored retail center located in Fort Wayne, Indiana. The price was not disclosed.

Amy Sands 

JLL represented the seller, DRA Advisors, and procured the buyer, LBX Investments.

 The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder.

Clinton Mitchell 

Built in 2008, the 99-percent-leased Orchard Crossing is anchored by Hobby Lobby and Barnes & Noble, which both recently entered new leases, as well as Dollar Tree and Five Below.

Additionally, the property is shadow anchored by a Target that has generated 1.3 million visitors in the past 12 months.

Located at 902 S. Thomas Rd., the property is located at the hard corner of Illinois Road and South Thomas Road, which experienced a 35,000 vehicles per day count.

Michael Nieder

The center benefits from an affluent customer base with an average household income of $95,806 within the area.

 Orchard Crossing Shopping Center holds a dominant market position due to its location directly across from Jefferson Pointe Shopping Center, which had just under five million visits in the past 12 months.

 CONTACT:

  Jenna Sharp, Associate, Public Relations

Phone: +1 214 394-3356

Email:  Jenna.Sharp@am.jll.com

 http://draadvisors.com

JLL Capital Markets arranges$45 million sale of 193,850-square-foot Tel Twelve retail center in Southfield, MI

 Amy Sands

 

 CHICAGO, IL – JLL Capital Markets has closed the $45 million sale of Tel Twelve, a 193,850-square-foot, open-air, retail center located within the Detroit MSA in Southfield, Michigan.

 JLL represented the seller, RPT Realty, and procured the buyer, Kaufman & Jacobs, LLC, a Chicago-based real estate private equity firm.

Clinton Mitchell

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder.

Built in 1968 and renovated in 2005, the 97.8-percent-leased Tel Twelve is anchored and junior-anchored by Best Buy, Ulta, DSW, PetSmart, BuyBuy Baby and Michaels.

Michael Nieder

Shadow anchors include Meijer and Lowe’s, driving additional traffic to the site.

 Additionally, the newly developed Chick-Fil-A outlot recently entered a 15-year ground lease. Over the last 12 months, the site has seen 4.8 million visitors.

 Located at 28400 Telegraph Rd., Tel Twelve is situated at the intersection of Telegraph Road and 12 Mile Road, two of the heaviest traveled roads in southeast Michigan with a total of 100,000 vehicles per day.

The property is just 20 miles northwest of downtown Detroit and .5 miles away from I-96. The center benefits from the 62,856 residents within a three-mile radius.

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

 

CONTACT:

 

 Jenna Sharp, Associate, Public Relations

Phone: +1 214 394-3356

Email:  Jenna.Sharp@am.jll.com

 rptrealty.com.

 

 

The Keyes Company’s Martin Hoffman and MaryEllen Closius Close $14.6 Million Land Sale in Northwest Miami-Dade County

 

MaryEllen Closius

 Miami, FL – The Keyes Company’s Martin Hoffman, P.A. and MaryEllen Closius, P.A., a prolific broker tandem based in the firm’s Hollywood office, closed the sale of two Miami-Dade County lots for a total of $14.6 million. 

The duo made the all-cash deal happen in just 12 days, and the 10-acre parcels sold for $2.6 million above the $12 million list price.

 

KZ Capital LLC purchased the 13425 NW 182nd St. and 18201 NW 137th Ave. properties. The buyer plans to develop a first-class truck parking project on the site, which is located near Hialeah and just east of US-27.

Martin Hoffman

 Hoffman and Closius represented both sides in the transaction. The brokers, who have a combined 60-plus years of real estate sales experience, had an existing relationship with the seller.

 

“We leveraged our relationships to facilitate this land sale in less than two weeks and well above the list price,” Closius said. “The scarcity of developable land in Miami-Dade and Broward counties makes sites like these particularly desirable.”

 

In 2008, Hoffman merged his 50-agent office into the Keyes Hollywood office. Shortly after, he met Closius, who at the time was a relocation specialist at Keyes. They decided to join forces, and have since become fixtures among the firm’s top producers across Miami-Dade and Broward counties.

 

Miami-Dade County territories

“We complement each other extremely well,” Hoffman said. “That has enabled us to expand our specialties to include selling and leasing residential, commercial and development sites. We take care of everyone from first-time homebuyers to experienced commercial real estate investors.”

 

To date, Hoffman and Closius rank as the Hollywood office’s No. 1 seller in 2022, based on a closed volume of $33.65 million (Keyes considers couples as individual brokers when comparing sales output).

CONTACTS:

 Eric Kalis and Daniel Benjamin, BoardroomPR

ekalis@boardroompr.com or dbenjamin@boardroompr.com

954-370-8999

www.hoffmanandclosius.com.

 

EverWest Sells Denver Tech Center Land for $23 Million for Planned Multifamily Development

 Krystal Arcenaux

  

 DENVER, CO – Denver-based commercial real estate firm EverWest Real Estate Investors has sold a 6.31-acre site in the heart of the Denver Tech Center submarket, for the planned development of a new Class A, mixed-use multifamily community.

At $23 million, the sale underscores the ongoing demand for metro Denver multifamily product.

The land site is located at 7700 S. Chester St. in Centennial, minutes from the I-25 / Dry Creek Road interchange and less than 15 miles south of downtown Denver.

Martin Roth 

 It was owned by a joint venture between EverWest and Independencia Asset Management.

“This is a superior transit-oriented site, located adjacent to light rail and surrounded by office development, which provides built-in residential renter demand,” said EverWest Executive Vice President Krystal Arcenaux.

“These fundamentals, along with Denver’s ongoing strong job growth, create a prime scenario for the new landowner and their multifamily development plans.”

Eric Roth

Martin Roth and Eric Roth of CBRE represented EverWest and Independencia in the sale transaction.

The Denver Tech Center submarket serves as a major urban / suburban commercial hub, home to notable Fortune-level employers and at the center of a highly educated employee pool.

CONTACT:

 Stacey Hershauer

focusAZ 

 P 480.600.0195

www.focusaz.com

  www.everwest.com.

Greenhill Towers Reigns Victorious at BOMA’s 2022 International TOBY Awards

 Codina Partners, owner of Greenhill Towers  office property in Addison,TX received The International Outstanding Building of the Year award for continued excellence in the Suburban Office Park Mid-Rise Category

 

Greenhill Towers, Addison, TX
Outstanding Building of the Year
 (TOBY) Awards 

Addison, TX – Greenhill Towers, managed by Crescent Property Services, brought home the top prize at The Outstanding Building of the Year (TOBY) Awards Gala on June 28 as part of the 2022 BOMA (Building Owners & Managers Association) International Conference & Expo in Nashville, TN. 

This year marked the 36th anniversary of the TOBY Awards, where the commercial real estate industry honored 14 commercial properties, including Dallas' Greenhill Towers and Jonathan (JJ) Jones, who received his fourth international TOBY & second with Codina Partners—a record-extending number for BOMA Greater Dallas.

Jonathan (JJ) Jones

 

To win a BOMA International TOBY Award, a property must first win local and regional competitions. 

Judging is based on criteria that include community impact, tenant and employee relations programs, energy management, accessibility, emergency evacuation procedures, building personnel training programs, and overall excellence. 

A team of industry experts also conducted comprehensive building inspections.

 

"The competition is truly international, with buildings from all over the world, so winning the top prize sets you apart as best in class globally,"  says JJ Jones.

"Even though it takes a lot of work and effort, we consistently keep our assets operating at a TOBY level year-round by striving to exceed customer service, management, and operational expectations. 

"This year, I think our Healthy Building Initiatives were the big differentiator."

Jones adds, "Our investment into indoor air quality and continued focus on wellness for our customers really set us apart from other buildings. It is always the details that matter, and that is where we put our focus." 

 

CONTACT

Dana Cobb 

dana@thebarbershopmarketing.com
CP Greenhill LLC
972.392.0660

 

Lee & Associates South Florida Q2 Report: Miami Industrial Vacancies Reach Decade-Low, Out-of-State Investors Flood Multifamily Sector

 

Lynae Solomon

MIAMI, FL – South Florida remains a hot target for commercial real estate investors from all over the nation, but supply constraints are a major challenge for the region’s key sectors according to Lee & Associates South Florida’s Q2 2022 market report.

The local industrial market continues to reach new milestones, with Miami-Dade County recording a decade-low vacancy rate in the second quarter of 2022.

 “Prices are continuing to rise and average cap rates have compressed this quarter,” Lee & Associates Vice President Lynae Solomon said. “Now that prices have increased, some local investors are holding off from adding more properties to their portfolio due to the uncertainty of the future of the economy.”

 William Domsky 

The tri-county area of South Florida closed the second quarter of 2022 with a scant 2.7% industrial vacancy rate, which was a full 1.3% below the region’s vacancy rate a year earlier.

Miami-Dade’s vacancy rate fell to 2.5%, while Broward County’s stayed put at 3.5%.

South Florida average industrial rents (triple-net) surged from $10.67 per square foot in the second quarter of 2021 to $12.59 per square foot in the second quarter of 2022.

 “In Miami, demand has consistently outpaced inventory throughout the industrial market,” Lee & Associates South Florida Principal William Domsky said.

  “Owners have capitalized on the market conditions and are raising rents at a brisk pace. Miami ranks as one of the most expensive industrial markets on the East Coast due to the lack of land suitable for large-scale industrial development.”

 In the multifamily sector, feverish investment appetite is driving up sale prices. Out-of-state investors are leading the push, as roughly 80% of acquisitions were made by non-Florida buyers over the past 12 months. South Florida multifamily rents skyrocketed year-over-year in the second quarter of 2022, from $1,786 per month to $2,048.

 

Matthew Katzen

“Florida continues to be at the forefront of how the office market recovers from the last two years,” Lee & Associates South Florida Senior Vice President Matthew Katzen said.

 “The coworking business continues to see strong growth, and law firms are actively leasing new Miami offices – particularly new-to-market global and national firms – or expanding to Palm Beach County.

"The investment sentiment has improved, but not without a sense of caution going forward.”

 “Despite inflation, the South Florida retail market continues to outpace the rest of the country in rent growth and positive absorption,” Lee & Associates South Florida Principal Victor Pastor said.

Victor Pastor 

“The threat of a recession is fueling greater demand for necessity-based shopping centers. Palm Beach County is experiencing a record influx of residents, which is attracting retailer expansion from the more crowded Miami-Dade market.”

To view the full sector-by-sector breakdowns and the Lee & Associates national Q2 report, click here: https://www.dropbox.com/scl/fo/x55fqdvt45qcwasjhzwbw/h?dl=0&rlkey=o88cbq69wjv0oribo3b8f9ypx

  For the latest news from Lee & Associates South Florida, visit leesouthflorida.com or follow us on Facebook, LinkedIn, Twitter and Instagram, our company local news.

 For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.

 CONTACT:

Eric Kalis

Vice President,

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

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Cuningham Appoints Jacqueline Dompe as New Chief Executive Officer

  

 

Jacqueline Dompe 

Cuningham, a national design firm, is thrilled to announce the appointment of Jacqueline Dompe as the firm’s Chief Executive Officer (CEO).

 Dompe will collaborate with Cuningham’s internal and external stakeholders to oversee the firm’s strategic direction and value.

 “We are thrilled to have Jacqui join the Cuningham team,” says Board Chair Margaret Parsons, FAIA.

Margaret (Meg) Parsons

“Her deep commitment to driving positive change and her proven track record aligning brand with successful business outcomes will be invaluable to our firm as we position ourselves in a rapidly changing industry.”

 Dompe has more than 20 years of experience delivering value for a variety of companies, including those in the Architecture/Engineering/Construction (AEC) industry. 

Jeffrey Mandyck

Cuningham Director of Strategy and Board Member Jeffrey Mandyck, AIA, praises both Dompe’s strengths as a leader and her ability to question and elevate the firm’s thinking, processes, and outcomes.

 “We are honored to have Jacqui lead Cuningham’s strategic planning,” says Mandyck. “On both an individual and firm-wide level, we are excited to be challenged in finding new ways to produce a clear synchronization between who Cuningham wants to be and who we are.”

 Dompe holds a Bachelor of Arts in in Business Administration and Environmental Studies from the University of San Diego and a Professional Certificate in Urban Development & Planning from the University California San Diego.

Contacts:

Katie Haga / Elisabeth Manville

The Smart Agency, Inc.

 949.438.6262        

khaga@thesmartagency.com

 www.jtcapitalgroup.com.