JLL Capital Markets handles $47 million acquisition financing for a 330,000-SF warehouse/distribution facility located at 153 Linden Street. in Passaic, NJ

 

 David Sitt

 MORRISTOWN, NJ – JLL Capital Markets has secured the $47 million acquisition financing of a 330,000-square-foot warehouse/distribution facility in Passaic, Passaic County, New Jersey.

 JLL worked on behalf of the borrower, Thor Equities Group, to secure the three-year, floating-rate loan through Tremont Realty Capital.

 153 Linden St. is segmented into a 115,000-square-foot section with 27-foot clear heights, a 163,000 square foot section with 16-foot clear heights and 52,000 square feet of outparcel buildings.

The property is currently home to Waitex Group International, a third-party logistics tenant, who uses the site as a distribution/warehouse facility.

Peter Rotchford

The facility boasts 17 dock-high doors with two internal docks, two drive-in doors and 36 trailer parking spots.

 The facility is located in the Route 3/ GSP industrial submarket, which is a desirable market for distribution and warehouse users, as well as last-mile distribution users due to its proximity to major Northern New Jersey thoroughfares and New York City.

The property has exceptional access to key highways including I-80, Route 46, Route 19, Route 3, Route 21, the Garden State Parkway and the New Jersey Turnpike.

Matthew Pizzolato 

Newark Liberty International Airport and The Port of New York and New Jersey are also near the warehouse.

 The JLL Capital Markets Debt Placement team representing the borrower was led by David Sitt, Peter Rotchford, Matthew Pizzolato and Ryan Carroll.

 “Even with the recent volatility in the capital markets, we continue to see strong interest from the lending community for well-located, institutional quality industrial assets,” said Pizzolato. 

 Ryan Carroll

“Tremont Realty Capital provided attractive terms that will allow Thor to execute their business plan.”

 CONTACT:

Jenna Sharp

JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email: Jenna.Sharp@am.jll.com

thorequities.com. 

 

BLP Expands Its Central Region Footprint with Dallas-Fort Worth Class A Industrial Acquisition

 

Connor Tamlyn

DALLAS, TX  -- Thanks to its boots-on-the ground approach and strong local relationships stemming from its newly established regional headquarters in Dallas, Bridge Logistics Properties (“BLP”), a subsidiary of Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”), has acquired 804 W. Shady Grove Road located in Grand Prairie, Texas.

804 West Shady Grove Road, Grand Prairie, TX

The 203,430 SF Class A building is a recently delivered, highly functional asset located in DFW’s infill Great Southwest (GSW) submarket.

Kurt Griffin 

 Situated on 12 acres, the building offers modern specs including a 32’ clear height, 180’ truck court, 42 dock high doors, two ramps, 49 trailer storage spaces and a 0.45 parking ratio. With a front load configuration, the building is divisible into two suites. 

 

“We are thrilled to add this brand new, Class A asset to our growing portfolio of infill logistics properties in global gateway markets," said Connor Tamlyn, Managing Director in BLP’s Dallas, Texas office.

 

Nathan Orbin

 "This acquisition is a testament to our team’s deep local relationships and focus on acquiring functional logistics assets in supply-constrained markets.”

 

The seller was represented by Kurt Griffin and Nathan Orbin of Cushman & Wakefield.

BLP considers Dallas Fort-Worth to be a key global gateway logistics market in the U.S., and  has established one of its four regional headquarters in the city.

 

Jay Cornforth

Beyond Dallas, BLP has a geographic presence via three other offices - Los Angeles, New Jersey and Atlanta. 

The company was established in June 2021 when Jay Cornforth, Chief Executive Officer, and Brian Gagne, Chief Investment Officer, left Brookfield to start the logistics division of Bridge Investment Group.

 

The BLP team is fast-growing and consists of 33 dedicated investment and business professionals across several disciplines.

 

Brian Gagne

The team successfully works to combine its operational and development DNA with deep customer, owner and broker relationships, which all played a key role in the successful acquisition of 804 W. Shady Grove 

Road and other key properties where demographic growth and shifts in consumer behaviors are dramatically increasing the demand for infill assets.

Since the formation of BLP, Connor Tamlyn and the Central team have already acquired three properties and four development sites totaling 1,338,871 square feet, and are managing a growing pipeline of assets currently under agreement. 

 CONTACT:

Stacey Kaszton Jones

LaVoz Marketing

stacey@lavozmarketing.com

 

JLL adds office investment sales advisory leader Jeremy Neuer in New Jersey

 

Jeremy Neuer

MORRISTOWN, NJ –– JLL Capital Markets announced today that Jeremy Neuer has joined the team as a Senior Managing Director in its New Jersey office.

 “We are thrilled to have one of the Tri-State areas most active and respected advisors on our team,” said Jose Cruz, Senior Managing Director and co-head of JLL’s New Jersey Capital Markets team.

“Jeremy’s market knowledge, drive and creative deal making skills will serve to help our clients on multiple levels.” 

 Neuer will focus on office investment sales advisory transactions in New Jersey and the Tri-State area. He joins JLL from a global commercial real estate firm where he co-led the New Jersey Capital Markets group for the last five years.

Jose Cruz

Neuer has been a leader in the New Jersey market, closing some of the largest and most prestigious suburban office sales in New Jersey in 2018, 2019 and 2020, including Park Avenue at Florham Park, which was the largest suburban sale in New Jersey since 2008.

 “Jose and I have known each other for more than 20 years, and I am both extremely excited and honored to be joining the premier team in the market,” Neuer said. “The depth of the team, the platform and, most importantly, the culture in place were major drivers in my decision to join JLL.”

 

 CONTACT:

Kristen Murphy

Director

 Public Relations, Americas

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

 

JLL arranges $387.5 million sale of 408-unit New York City multi-housing community

 

Joy Ryoo

NEW YORK, NY – JLL’s Capital Markets group has closed the sale of a $387.5 million multi-housing community comprised of 408 market-rate units and 9,693 square feet of commercial space located at 685 1^st Ave. in the Murray Hill neighborhood of Manhattan. 

685 1st Ave. is part of a larger, six-property, 1,766-unit portfolio that JLL recently marketed.

Multi-housing community comprised
of 408 market-rate units and 9,693 SF
 of commercial space located at
 685 1^st Avenue. in the Murray Hill
neighborhood of Manhattan. 

 

JLL exclusively represented the seller, Solow Building Company, and procured the buyer, GO Partners, a joint venture between Josh Gotlib and Meyer Orbach.

Josh Gotlib 

GO Partners additionally brought in other syndicated private partners and procured financing from a relationship bank.

 Built in 2018, the 43-story, 460-foot-high community consists of 408 rentals on the lower 27 floors and 148 one- to four-bedroom condominiums on the top 16 floors.  Community amenities include a fitness center, swimming pool, co-working lounge, media room, valet parking, cold storage and a children’s playroom.

Meyer Orbach.

Situated in Murray Hill, the community is located just south of the United Nations Headquarters along the East River.

The building offers expansive views of New York City and the riverfront, as well as convenient access to FDR Dr. and numerous subway lines.

 JLL’s Capital Markets Investment Sales Advisory team was led by Senior Managing Directors Rob Hinckley and Jeff Julien, Vice Chairman Scott Panzer, Senior Managing Director Andrew Scandalios, Director Steve Rutman, Vice President John Taylor, Associate Jon Faxon and Analyst Joy Ryoo.

Rob Hinckley 

“685 1^st Ave. is a truly best-in-class trophy asset that will benefit from fair market rents in a highly supply constrained market,” said Hinckley.

“Its proximity to both the Class A office surrounding Grand Central Terminal and the water promenade along the East River make it an ideal location for a long-term hold.”

 JLL’s Capital Markets group 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 and sales advisory, debt advisory, equity advisory or a recapitalization.

Jeff Julien

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:

Jenna Sharp

 JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email: Jenna.Sharp@am.jll.com

 

Five Retail Concepts to Open at Container Village at Lee + White in Atlanta's Historic West End

 

 Kelly Wilson

ATLANTA, GA – Ackerman & Co. and MDH Partners, co-investors in Lee + White, an adaptive reuse mixed-use development in Atlanta’s historic West End, are welcoming five new retail concepts to its container village, scheduled to open in late October/early November.

Ackerman Retail Senior Vice President Kelly Wilson, who is leading the retail and food hall leasing efforts at Lee + White, has completed license agreements with concepts ranging from an electric bike shop to retailers offering eco-friendly products, specialty goods and gift items.

Ownership is creating the container village to expand the unique retail offerings at Lee + White and to provide an affordable opportunity for startups and small businesses seeking brick-and-mortar space to sell their products.

Not requiring a traditional lease, all occupancy costs for container retailers – including power and other utilities – are included in a short-term license agreement.

 Featuring brightly painted exteriors and glass-door storefronts and entries, the shipping container spaces occupy a prominent position on the property facing White Street next to a paved path providing access to the Westside Atlanta BeltLine.

 The container retail concepts include: Atlo, specializing in eco-friendly refills of everyday products; Coastal Green Wellness, a seller of organically produced CBD and hemp products, opening its second Atlanta location; Edison Bicycles, a locally-owned business selling its own brand of electric bikes, launching its third Atlanta location; Erin Smith Art, offering unique greeting cards, gift items and party supplies; and Highfalutin Press, selling a variety of gift products and specialty items.

 

“There’s no better or more affordable way for a business to get a start in a brick-and-mortar location than at a container space like this,” said Wilson.

“We’re excited about the unique mix of businesses that will be opening in our container village providing an affordable alternative for retailers to grow their businesses, and we are thrilled that sustainable and eco-friendly products are part of the mix of items offered.”

Acquired by MDH Partners and Ackerman & Co. in September 2019, the ongoing redevelopment at Lee Lee & White is adding a 19-vendor food hall, creative office space, new retail and the “Great Lawn” gathering and event space.

Vendors lined up for the food hall, scheduled to open in early 2023, include Lake & Oak BBQ, The Original Hot Dog Factory, Gekko Hibachi & Sushi, Honeysuckle Gelato and Pastaholics, with more to be announced soon.

 

Carbice, a nanotechnology innovator launched as a startup at Georgia Tech, recently celebrated the grand opening of its 23,367-square-foot headquarters and production facility in Building 1050.

 The roster at the Lee + White food hall, opening in early 2023, showcases a mix of local favorites and regional and national concepts. Eateries to date include Honeysuckle Gelato, Gekko Hibachi & Sushi, Lake & Oak BBQ, Mochinut, The Original Hot Dog Factory and Pastaholics.

 

 CONTACT:

Steve Webb 

swebb@ACKERMANCO.NET

JLL Capital Markets arranges $45 million sale of the 205,853-square-foot Deerwood Town Center in Miami, FL

 

Kim Flores

 MIAMI, FL– JLL Capital Markets has closed the $44.85 million sale of Deerwood Town Center, a 205,853-square-foot, grocery and home improvement-anchored community shopping center.

 JLL arranged the transaction between the seller, Courtelis Company, and the buyer, Core Investment Management.

 The 100-percent-leased Deerwood Town Center is anchored by a strong-performing Fresco y Mas and Home Depot and also includes Amped Fitness, Pet Supermarket and TD Bank.

 

Deerwood Town Center, southwest Dade County, FL

Situated at 12095 SW 152^nd St., Deerwood Town Center is located on the northeast corner of Coral Reef Drive and S.W. 122nd Avenue within Southwest Dade County.

The center benefits from a population of 368,278 within a five-mile radius. Deerwood Town Center serves the Kendall, South Dade and Country Walk areas located in Southwest Dade, which are among the highest growth areas in the Metropolitan Miami area.

 Danny Finkle

The center offers direct access to the Florida Turnpike and is within three miles of other major roadways, such as State Road 874, South Dixie Highway (U.S. 1), Lindgren Road (S.W. 137th Avenue) and SW 117th Avenue.

 Additionally, the property is located across from the Zoo Miami.

Eric Williams

The JLL Retail Capital Markets Investment Sales and Advisory team that arranged the transaction was led by Senior Managing Director and co-lead of JLL’s US Retail Capital Markets group Danny Finkle, Senior Director Eric Williams and Vice President Kim Flores.

 “Opportunities to acquire high-quality grocery and home improvement-anchored centers in Miami are relatively scarce, and Deerwood Town Center has been owned by the original developer since the first phase was completed in 1985,” Finkle said.

 “The strong investor demand for grocery-anchored centers has been well-documented, but a notable increase in interest for ethnic grocers is driving capital formation around acquiring retail centers like Deerwood Town Center,” added Williams.

  CONTACT:

Jenna Sharp, Associate,  Public Relations Phone: +1 214 394-3356 Email:  Jenna.Sharp@am.jll.com

 

 

The Keyes Company Adds Novus Realty to its Expanding South Florida Footprint

 

Maria Elena Arias

Fort Lauderdale, FL– The Keyes Company, Florida’s largest independent real estate brokerage, added a dynamic real estate firm to its consistently growing portfolio. 

Miramar-based Novus Realty is joining Keyes, bringing its real estate brokerage and property management divisions to the firm’s Family of Companies.

 Founded by Victor Taurizano in 2011, Novus Realty has more than 30 Associates and employees and generates about $40 million in annual transaction volume. Its property management division oversees about 50 properties. 

Taurizano is also an experienced developer and will bring that experience to Keyes’ development division as part of his role with Keyes.

 Victor E. Taurizano

Keyes will operate Novus’ existing Miramar location at 12280 Miramar Blvd. as a new Keyes office, with Maria Elena Arias of Keyes set to lead it. Arias has more than 25 years of experience as a top producer and in management.

 Novus developed and managed the plaza that the office is located in. Keyes Property Management will take over management of the plaza and the rest of Novus’ management portfolio.

 “After building Novus Realty from scratch into a formidable and versatile real estate firm, the time was right to pursue this strategic partnership,” Taurizano said. 

“Keyes is the perfect partner for Novus, given its family owned and entrepreneurial nature, independence, marketing and incredible technology. 

 Jud Henry

"To quote an African proverb I often cite, ‘If you want to go fast, go alone. If you want to go far, go together.’”

 Born in San Pedro, Argentina, Taurizano always had a passion for building, creating and problem solving. That led to him earning a bachelor’s degree in Electrical Engineering and master’s degrees in Telecommunications and Business Administration before moving to the U.S. in 2001. 

Taurizano became fluent in four languages (Spanish, English, Portuguese and Italian) while traveling the world for business.

 Taurizano is a licensed real estate broker in Florida and Arkansas. He also holds active CAM (Community Association Management) and mortgage broker licenses in Florida.

 Steven Reibel

For Keyes, the Novus addition continues its long-term approach of selectively targeting boutique brokerages to acquire and integrate into the firm. In June 2022, 

Keyes added Skye Louis Realty to bolster its presence in Broward and Palm Beach counties. Led by Jud Henry, Skye Louis has more than 140 agents and produces an annual volume exceeding $200 million.

“Novus is another tremendous firm to welcome to the Keyes Family of Companies,” Keyes Senior Vice President Steven Reibel said. “We remain focused on strategic and multi-faceted growth in South Florida, the Treasure Coast and in select West Coast markets. 

"That sometimes includes acquisitions of boutique firms that share our core values emphasizing customer service, integrity, family and philanthropy.”

 

 CONTACTS:

Media Contact:

Eric Kalis and Daniel Benjamin, 

BoardroomPR

ekalis@boardroompr.com or

 dbenjamin@boardroompr.com

954-370-8999

Seefried Acquires 56 Acres in Calhoun, GA, Commencing Spec Project Immediately

 

Rendering of Grove 75 Logistics Center,
 a planned 56-acre, 738,720 square foot
 speculative development in Calhoun, GA

 

Calhoun, GA - Seefried Properties, a national real estate firm specializing in the development, leasing and management of industrial properties has acquired a 56-acre site with plans to break ground immediately on Grove 75 Logistics Center, a 738,720 square foot speculative development in Calhoun, Georgia. 

The facility is expected to be completed in the third quarter of 2023.

 At the epicenter of an industrial corridor, in the I-75 North Industrial submarket, the property provides ideal access to a growing population base, deep labor pool, and numerous nearby amenities. 

Doug Smith

 Grove 75 Logistics Center is located on Union Grove Road – just half a mile from Interstate 75 and 1.5 miles from Highway 53 and Highway 41. 

The state-of-the-art logistics center will feature modern, Class A building features, 40-foot clear heights, 167 dock-high cross-docking doors (4 drive-in), ample trailer and auto parking spaces, LED interior lighting, ESFR sprinklers and office space to suit.

 

Joseph Kriss

“The site is perfectly located with one turn and a quarter mile off of I-75, says Doug Smith, Senior Vice President, Seefried Properties. "The I-75 northwest leasing market continues to be very active with regional and national building users.”

Grove 75 Logistics will serve as a premier location for manufacturing and distribution user’s seeking a significant amount of space with easy access to Interstate 75 in the northwest Georgia corridor, the preferred access route to the newly developed Appalachian Regional Port (ARP).  Hartsfield-Jackson International Airport is 74 miles away.

Tripp Ausband

Joseph Kriss, Tripp Ausband and Doug Smith of Seefried will handle the marketing and leasing for the project.

  Additional project partners include The Conlan Company as the general contractor, Southland Engineering as the civil engineering firm and Atlas Collaborative as the architect. 

 

 CONTACT:

Barbara Bennett | Marketing Coordinator

t: (602) 337-8730  |  m: (520) 661-9641  e: bbennett@seefriedproperties.com 2201 E. Camelback Rd Ste 222  |  Phoenix, AZ 85016

www.seefriedproperties.com