JLL Capital Markets closes sale of the 120-unit / 432-bed CEV Ruston student housing community at Louisiana Tech University in Ruston, LA

 

Teddy Leatherman

CHICAGO, IL – JLL Capital Markets announced that it has closed the sale of CEV Ruston, a 120-unit / 432-bed student-housing community primarily serving the 11,000 students at Louisiana Tech University in Ruston, Louisiana. The price was not disclosed.

 

Scott Clifton

JLL represented the seller, Timberline Real Estate Ventures, and Briar Meads Capital acquired the asset.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Directors Scott Clifton, Stewart Hayes and Teddy Leatherman, Associate Kevin Kazlow and Analyst Jack Goldberger.

 

Constructed in 2008, CEV Ruston features fully furnished two- and four-bedroom units with in-unit washers and dryers, high-speed internet, private bedrooms and desks and an average size of 1,349 square feet.

Stewart Hayes

The units present an opportunity for value-add upgrades. The property also offers an all-inclusive amenity package that includes a fitness center, group and private study rooms, a fully equipped computer center and a beautiful outdoor swimming pool and deck.

 

Situated at 1812 W. Alabama Ave., CEV Ruston is immediately adjacent to campus and the Joe Ailet Stadium and within a 10-minute walk to most academic buildings.

 

The community also attracts students from the nearby Grambling State University, which has gained national recognition as graduating the highest number of diverse students in STEM programs.

Kevin Kazlow

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 and sales 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.

Jack Goldberger

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

 

 CONTACT

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

Beta Agency completes $14 million sale of supermarket-anchored center in Lawndale, CA

 

Vanessa Zhang

Los Angeles, CA – Beta Agency, a leading commercial real estate brokerage and advisory firm, has completed the sale of a supermarket anchored shopping center located at in Lawndale, California to an undisclosed buyer for over $14 million.

 

The property consists of a Smart and Final store and a multi-tenant shop building. The center and was 100% occupied at the time of the sale. Shop space tenants in the center included Subway, Wingstop, Panda Express, Daily Nails & Spa, Wells Fargo.

Richard Rizika

Beta Agency’s Richard Rizika and Vanessa Zhang represented the seller, a private shopping center owner based out of San Pedro, California.

 

The Buyer, a private 1031 exchange entity based out of Los Angeles, was represented by Adam Friedlander of Beta Agency and Moon Lim of JLL.

 

“The Buyer acquired Lawndale Plaza because of its strong operating history, stabilized income stream and excellent real estate fundamentals,” said Rizika.

 “Several of the shop space tenants recently exercised their option. This property satisfied the Buyer’s second half of their 1031 exchange and is a nice addition to their shopping center portfolio.”

 

Adam Friedlander

Rizika said “grocery anchored shopping centers in primary markets continue to be highly sought-after real estate investments and will continues to attract aggressive capital.”

 

About Beta Agency

Beta Agency is a leading commercial real estate services firm located in El Segundo, California. Beta’s investment advisory service utilizes proprietary analytics and design services to market commercial real estate. Beta Agency represents over 10 million square feet of commercial property and over 70 brands throughout the Western US.

 

 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.”

 

 

Northmarq arranges $7.3 million sale of multi-tenant retail center in Savannah, GA MSA

 

Anne Perrault

TULSA, OK, Jan. 6, 2023 – Northmarq, one of commercial real estate’s leading investment sakes brokerage firms, has completed the sale of the Shops at Tanger Parkway, a 15,600 sq. ft. multi-tenant retail center located at 240 Tanger Outlets Blvd in Pooler, Georgia.

The Savannah MSA development was 100 percent leased to eight tenants with excellent performance indicators at the time of the sale.

David Annett and Anne Perrault of Northmarq’s Tulsa office represented the seller, a Utah-based developer. The buyer, a private equity firm based in Mexico City, was represented by Mark Lovering of Northmarq’s Chicago office.

“We have been involved in this deal since pre-development stages, bringing the equity to the developer to construct the asset, followed by the ultimate consummation of the sale upon stabilization,” said Annett.

David Annett 

“The Shops at Tanger Parkway is a trophy asset that’s located front and center of the Tanger Outlets Mall --- an 800K shopping center that boasts over 4.5 million annual visits,” explained Lovering.

 

Built in 2020, the property is strategically positioned along the Pooler Parkway frontage road, offering major road access to all national retailers in the trade area.

Mark Lovering

Major tenants of the retail strip include Tropical Smoothie Café, Tin Drum Asian Kitchen, LAX, T-Swirl Crepe, Wayback Burgers, Which Wich?, America’s Best Contacts & Glasses, and Pita Mediterranean Street Food.

 

“Our marketing produced a very competitive bidding environment – we started with approximately 10 letters of intent and were ultimately able to produce great value for the seller while selecting a buyer who had a solid resume,” said Perrault.

“The capabilities of the buyer and his commitment to the transaction turned out to be critical down the stretch.

 

I appreciated collaborating with Mark to produce a great outcome for our clients.”

Shops at Tanger Parkway, Pooler, GA

The center sold for $7.3 million reflecting a cap rate in the high-6’s on the current NOI.

 

“Due to strength of the underlying real estate and long-term leases, the buyer was able to secure accretive financing despite the choppy environment in the capital markets,” added Lovering.

 

“All in all, this was a win-win for the seller & the buyer, and sourcing this deal internally illustrates the benefits of the Northmarq platform.”

 

 

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.”

 

JLL Capital Markets closes sale of the 46,704-square-foot, high-performing South Bank retail asset on San Antonio River Walk to a former owner.

 

 Erin Lazarus 

DALLAS, TX – JLL Capital Markets  has closed the sale of South Bank, a 46,704-square-foot, high-performing retail asset located on the world-renowned San Antonio River Walk, the top tourism attraction in the state of Texas.

 

The price was not disclosed.

 

JLL marketed the property on behalf of the seller, and Fifth Corner acquired the asset. Fifth Corner’s predecessor, AMREIT, formerly owned this property from 2005 to 2015.

Megan Babovec

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Chris Gerard, Ryan West and Barry Brown and Associate Erin Lazarus and Megan Babovec.

 

“After more than a decade of operating experience with South Bank on the San Antonio River Walk, we will maximize the value of this Irreplaceable Corner™ and make this stalwart even better,” said Tenel Tayar, Co-Founder and Managing Partner at Fifth Corner.

Tenel Tayar

 “Our predecessor to Fifth Corner, AmREIT, acquired the property in 2005 and owned and operated it until the company sold in 2015. South Bank embodies the characteristics of an Irreplaceable Corner^TM with its extremely high barriers to entry, strong tenant demand, and connection to the community. 

Chris Gerard

"We are thrilled to own South Bank again and look forward to implementing our Fifth Corner initiatives.”

 

This trade is significant as only one River Walk retail asset transaction has occurred over the last five years, and only six individual retail assets have traded since 2005.

 

Featuring a strong mix of food and beverage and local and national retailers, the property caters to the over 11 million visitors to the River Walk annually. 

 

 South Bank generates total commerce of over $22 million, the center is 100% occupied and boasts an average tenant tenure of 20.1 years.

Ryan West

Original tenants include Hard Rock Café, The County Line Bar-B-Q, Paesanos, Cowboy’s Alamo City Harley-Davidson, Ben & Jerry’s and Howl at the Moon.

 

Recent additions include Merkaba, a live-music sister concept to Howl at the Moon, and Fat Tuesday, which has returned to its original South Bank location after 17 years.

 

Situated at 111 W Crockett St., South Bank is set within a highly coveted retail micro-market. The tenants have access to a San Antonio’s large population of 2.6 million, as well as the approximately 37 million tourists that visit the city annually.

 

Additionally, the location of the asset benefits from the 16,877 total hotel rooms within a five-mile radius.

South Bank is also supported by incredibly strong fundamentals driven by high retailer demand and development restrictions established by the RIO-3 zoning that was implemented in 2002 to protect, preserve and enhance the San Antonio River.

 

Barry Brown

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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 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, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

BLT Enterprises appoints Robert Solomon president

Robert (Rob) Solomon

 SANTA MONICA, CA – BLT Enterprises, a multi-faceted real estate investment company with a track record of success, has announced the appointment of Robert (Rob) Solomon to President as part of its strategic growth and evolution of its legacy.

 According to Dan Rosenthal, Co-Founder of BLT Enterprises, Rob has been a consistently strong leader who has stepped up to assume many new responsibilities since the passing of BLT’s Co-Founder and President, Bernie Huberman, in July of 2021.

 

Dan Rosenthal

“Serving as Chief Development and Legal Officer at BLT since 2009, Rob continues to be a driving force as we navigate this new chapter,” explains Rosenthal.

 “This promotion is well deserved. Rob’s devotion and integrity have gained him unrivaled respect among his colleagues, while his professional prowess directly aligns with our mission.

 As a firm, we are thrilled to have Rob leading the company and we look forward to his continued success for many years to come.”

Bernie Huberman

With over 30 years of experience as a commercial real estate law and transactional attorney, Solomon’s expertise encompasses nearly all aspects of acquisitions, dispositions, lease negotiations, financing, and development.

 Rosenthal adds that the Bernie Huberman’s legacy also lives on in two of his children who serve as growing leaders within the firm—Nikolette Huberman Jacob, Manager of Real Estate Investment & Director of Corporate Philanthropy, and Lukas Huberman, Director of Acquisitions, who have both been promoted to Vice President within the company.

 

Nikolette Huberman Jacob

“We hold great value in the passionate leadership and experience of all our team members, who play an essential role as we uphold the pillars on which BLT was built,” says Rosenthal.

 “As our firm has embarked on these new leadership roles, the results have been remarkable. We have developed a proficient team led by incomparable industry experts, with a successful track record to prove it.”

 

Lukas Huberman

Solomon continues: “Founded by Bernie and Dan in 1984, our firm was built through teamwork and measured, strategic growth.

 "The most powerful lesson I have learned through my time at BLT is that the success of a company stems from its culture and its people. 

"To this day, that principle drives everything we do, resulting in our solid financial position and reputation as a trusted buyer, seller, owner, and operator.”

 

Contacts:

 

Hanna Kokuashvili/Elisabeth Manville

The Smart Agency, Inc.

(949) 438-6262

hkokuashvili@thesmartagency.com

 

Ware Malcomb promotes Lynne Orlowski to Director, Interior Architecture & Design in Phoenix, Az office

 Lynne Orlowski

 

PHOENIX, AZ – Ware Malcomb, an award-winning international design firm, announced that Lynne Orlowski has been promoted to Director, Interior Architecture & Design in the firm’s Phoenix office.

 In the role, Orlowski is responsible for leadership and continued growth of the Interiors Studio in the region.

Orlowski has more than 10 years of in-depth design industry experience, including leadership of the Phoenix Interior Architecture & Design Studio, overall design implementation and client management.

She has successfully managed a wide variety of interior project types including office, healthcare, and industrial.

 Douglas Gullo

“Lynne’s keen eye, attention to detail and commitment to the team make her a valuable leader,” said Douglas Gullo, Regional Director, Ware Malcomb.

 “Her dedication and design excellence have not only impressed clients, brokers and team members in the region but helped her secure multiple design awards. She exemplifies the Ware Malcomb culture with a collaborative spirit and energetic approach, and we are pleased to promote her to Director.”

Orlowski joined Ware Malcomb as a Designer in 2015 and moved into Project Manager and Studio Manager roles before being promoted to Director.

Throughout her career, she has built, trained and mentored the Interior Architecture & Design team. Orlowski holds a Bachelor of Science in Design, Interior Design, from Arizona State University and a National Council for Interior Design Qualification.

Ware Malcomb’s Interior Architecture & Design Studio creates design solutions to transform interior environments into market relevant, contemporary spaces.

 

CONTACT

 Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers, Director, PR & Communications, 949.660.9128,

 mrodgers@waremalcomb.com

 

Maureen Bissonnette, Principal, Marketing, 949.660.9128,

 mbissonnette@waremalcomb.com

 

waremalcomb.com