JLL’s Hotels & Hospitality Group closes sales of the Marriott-branded Fairfield Inn hotels in Woburn, MA and Portsmouth, NH

Emily Zhang

 

 BOSTON, MA – JLL’s Hotels & Hospitality Group announ has closed the sale of two Marriott-branded, select-service hotels in New England.

 

The hotels include Fairfield Inn Boston Woburn/Burlington in Woburn, Massachusetts and Fairfield Inn Portsmouth Seacoast in Portsmouth, New Hampshire.The sales prices were not disclosed.

 

JLL marketed the property on behalf of the seller, a joint venture of funds managed by Contrarian Capital Management and Waramaug Hospitality. The hotels were offered unencumbered by management.

 Alan Suzuki

The JLL Hotels & Hospitality team working on behalf of the seller was led by Managing Director Alan Suzuki, Director Matthew Enright and Analysts Emily Zhang and Miranda Guajardo.

 

Fairfield Inn Boston Woburn/Burlington (126 keys) and Fairfield Inn Portsmouth Seacoast (102 keys) both underwent significant renovations in 2015 and 2016.

 

Both hotels offer a standard mix of traditional guest rooms, complimentary breakfast, a business center, fitness center, seasonal outdoor pool and sundry store, as well as free on-site parking.

 

Fairfield Inn Boston Woburn/Burlington is located 10 miles northwest of Boston at the intersection of Interstate 95/Route 128 and I-93.

Fairfield Inn Boston Woburn/Burlington, Woburn, MA

In addition, Logan International Airport is located 20 minutes from the property, which is also near the Anderson/Woburn station serviced by the MBTA Lowell Line Commuter Rail and the MBTA Route 134 bus.

 

 Aside from being a short distance from the attractions offered in downtown Boston, the hotel is in the business district of Woburn near local attractions such as the Lexington Battle Green, Horn Pond Reservation, Forest Park and Shaker Glenn.

 

Fairfield Inn Portsmouth Seacoast is 50 miles north of Boston and is proximate to I-95 and U.S. Route 1.

 Matthew Enright

The hotel is centrally located just minutes from Pease International Tradeport, Liberty Mutual and the Portsmouth Naval Shipyard.

 

Additionally, the property is proximate to the city’s waterfront, Portsmouth Music Hall, 3S Artspace, Prescott Park, the Kittery Mall Outlets and more.

 

The city is often featured on various “best places to live lists” and has been named by Forbes Traveler as one of America’s Prettiest Towns.

 

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

 

 

CONTACT:

 

Cierra Lacasse

JLL Associate, Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

 

JLL Capital Markets closes sale-leaseback of Quirch Foods facilities in Miami, FL and Hammond, LA

 

 Max La Cava

 

MIAMI, Sept. 13, 2022 – JLL Capital Markets announced today that it has closed the sale-leaseback of two mission-critical cold storage facilities totaling 262,904 square feet in Miami, Florida and Hammond (New Orleans MSA), Louisiana.

Miami, FL cold storage on  15 acres
at 7600 NW 82^nd place 

JLL represented the seller, Quirch Foods, in the sale to an undisclosed third party. Quirch Foods occupies both facilities. The price was not disclosed.

Brian Shanfeld

The first property, which is located on 15 acres at 7600 NW 82^nd place in Miami, totals 178,428 square feet.

 

 The Miami facility has excellent access to Florida’s Turnpike, US-27, and State Road 826 (the Palmetto Expressway), and is proximate to Miami International Airport and the Port of Miami.

 

Situated on 19.4 acres at 11502 Scariano Lane in Hammond, the second building totals 84,476 square feet.

Jason Dewitt

The facility is located near the intersection of Interstates 12 and 55 and has efficient access to several Gulf Coast ports.

 

The JLL Capital Markets team representing the seller was led by Director Max La Cava, Senior Managing Director Brian Shanfeld, Managing Directors Jason Dewitt and Luis Castillo and Vice President Steven Okon.

 

“Cold storage industrial remains a heavily in-demand asset class among investors," La Cava.

Luis Castillo

"Moreover, long-term leased product provides investors with attractive yields and surety of cash flow.

 

 "Despite broader market volatility that occurred over the summer, JLL saw a remarkable level of interest from an array of investors that aggressively pursued the opportunity.

 

 “The transaction achieved the dual-mandate of allowing Quirch Foods to unlock significant capital, while maintaining operational control of two mission-critical distribution centers.”

 

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

Steven Okon

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.

 

 

CONTACT:

 

Cierra Lacasse

JLL Associate, Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

 

Blackton, Inc. Named Preferred Vendor for New Homes by D.R. Horton at its Huntington Ridge Development Coming to Ocala, FL

Michael “Micky” Blackton

 

 Leesburg, FL and Ocala, FL  --- Blackton, Inc., one of Florida’s oldest and largest suppliers of materials to the homebuilding industry, recently earned a contract from D.R. Horton’s West Central Florida division to supply flooring materials for Huntington Ridge. 

 The new community of single-family homes will be starting construction soon in Ocala. 

Michael “Micky” Blackton, chairman, said his firm’s Leesburg facility will service and supply Huntington Ridge with an estimated $600,000 worth of high-end flooring for the construction of 115 planned single-family homes ranging from 1,672 to 3,561 square feet.

Blackton said their third location established in the heart of Leesburg better serves new and longtime clients, who build in Alachua, Lake, Marion, Sumter and Citrus counties, with a better turnaround time.

“Our Leesburg team has been doing phenomenal job,” he said.

 

Blackton has been supplying D.R. Horton with building materials for more than 40 years.  

The family-owned business headquartered north of downtown Orlando, has been supplying the homebuilding industry from Jacksonville to Tampa for six decades.   

 

Construction on models is underway and sales begin this fall at the new community located on S.W. 72^nd Terrace Road and S.W. Highway 484. 

 

 

CONTACTS:

Michael “Micky” Blackton, Chairman, Blackton Inc. 

407-898-2661 Micky@Blacktoninc.com

 

Beth Payan, Larry Vershel Communications, Inc. 

407-461-3781 Beth@larryvershel.com

New Castle Acquires Historic LaSalle Hotel in Bryan, TX, Near Texas A&M

 David Buffam

 

  RIDGEFIELD, CT, Sept. 16 2022—Julian Buffam and Jeremy Buffam, partners at New Castle Hotels & Resorts (NCH), a leading hotel investment, development and management company, today announced the acquisition of the 55-room, historic LaSalle Hotel in Bryan, Texas. The price was not disclosed.

 NCH was founded in 1980 by David Buffam and is based in Ridgefield, Connecticut.

Julian Buffam

Built in 1928, the hotel is located in the heart of downtown Bryan, recognized by Forbes as the “Best Small Place” for education, business, and careers. 

 Following an extensive interior and exterior renovation of the property, the LaSalle will join the Marriott Tribute Portfolio , a family of independent boutique hotels. 

 

Jeremy Buffam

Municipal incentives from the City of Bryan and historic tax credits will help support projected capital improvements of $110K per key. 

 Bryan is at the epicenter of Texas’ five major metropolitan areas, Dallas, Fort Worth, Houston, Austin, and San Antonio and is the sister city of College Station, home to Texas A&M University, the largest university in the United States.

 “New Castle has a long history of acquiring historic hotels and repositioning them for new generations of travelers,” said Jeremy Buffam. 

 

Bryan, TX Mayor Andrew Nelson

 “The LaSalle fits this model precisely and Marriott’s Tribute flag is the perfect branding affiliation for a cherished small-city treasure. 

 "The building is architecturally significant and has great bones, and when you add in the city’s warm welcome and partnership, we believe it is a winning combination.”

 “This partnership ensures that the LaSalle, a critical historical asset in Downtown Bryan, is preserved and celebrated,” said Bryan Mayor Andrew Nelson.  “It is a testament to how far we’ve come to build the birthplace of Aggieland into a thriving, culturally rich destination for years to come.”

55-room, historic LaSalle Hotel in Bryan, TX

 

“The overall market fundamentals for Bryan/College Station are very strong,” said Julian Buffam.  “Hotel performance is well above 2019 and we are confident that these numbers are not temporary; many similarly situated hotels in the market are having phenomenal years. 

  "In addition, the city has invested heavily in developing Bryan as a recognized cultural arts district which plays very well with a historic boutique hotel of this quality.” 

 The LaSalle, which features a subterranean speakeasy, 5 Knocks and a lobby-level bar/restaurant Downtown Elixir and Spirits, will operate as an independent hotel through fall of 2023.

 CONTACT:

 Lauralee Dobbins

Write Touch Public Relations

Lauralee@WriteTouchPR.com

856-979-8929

 

EDEN Multifamily Adds Tyler Heckaman as Director of Land Acquisition

 

 

Tyler Heckaman

MIAMI, FL – Sept. 16, 2022 – Leading developer EDEN Multifamily, the joint venture formed by Jay Jacobson and Jay Massirman, made a key new hire with the arrival of Tyler Heckaman as Director of Land Acquisition.

 Based in Miami, Heckaman is responsible for sourcing new acquisition opportunities and supporting EDEN’s entitlement, market analysis, underwriting and operations.

 

EDEN focuses on developing and delivering innovative, industry leading multifamily communities that serve a wide range of economic sectors. It is in the midst of a major national expansion.

 Jay S. Jacobson

 “Tyler is a talented and experienced real estate professional who is quite familiar with EDEN’s mission,” EDEN President Jacobson said.

 

 “He will be instrumental in identifying and securing the right sites for us to meet the intense demand for new multifamily product across many high-growth markets.”

Heckaman has deep ties to Massirman’s Rivergate family of companies.

 

The Miami native was previously Senior Vice President – Head of Acquisitions for the former MCSS Development and Investment LLC (now known as Basis Industrial).

 

He started with MCSS as an acquisitions associate in January 2017 before earning a promotion to Vice President of Development two years later. In March 2022, he was promoted again to his most recent role.

 

A Florida State University graduate, Heckaman earned a bachelor’s degree in Economics. He also served as an intern within Rivergate.

Jay Massirman

Heckaman’s arrival comes as EDEN advances its expansion plans. The company just announced the opening of a new regional office in the Charlotte area to serve key Southeast and Mid-Atlantic U.S. markets. EDEN tapped seasoned industry executive Scott Phillips to lead the effort.

 

EDEN’s existing pipeline of 2022 construction starts totals more than $750 million and is expected to exceed $1.2 billion by mid-2023, reflecting scheduled groundbreakings of surface-parked, mid-rise and high-rise communities during that timeframe.

 

In May 2022, EDEN announced a new joint venture with Sterling Equities, a major real estate investment, management and development company tyler@edenmultifamily.com.

 

 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

Web | Facebook | LinkedIn | Twitter | Instagram

www.edenmultifamily.com.