JLL Capital Markets arranges $385 million construction financing and equity for The McBride Cohen Company to develop Phase I of South Pier at Tempe Town Lake, a $1.8 billion Master-Planned Development in Tempe, AZ

 

Loren McBride Cohen

PHOENIX, AZ – JLL Capital has raised $385 million in debt and equity for the construction of South Pier at Tempe Town Lake Phase I, a 737,585-square-foot, waterfront, trophy mixed-use project that will include 724 multi-housing units and 26,767 square feet of retail space in Tempe, Arizona.

 

Upon completion, Phase I of the McBride Cohen Company-led project will be the largest apartment development in the state of Arizona and will feature the towering Arizona Amazing Wheel, a pedestrian bridge, public dock, and world class entertainment isle.

 

JLL worked on behalf of borrower, The McBride Cohen Company, to raise $162 million in equity from Cantor Fitzgerald and Silverstein’s Opportunity Zone Fund, as well as secure $223 million in financing through both senior and mezzanine loans.

 

“We believe in the power of this project, this incredible piece of waterfront and the community we are going to create here at South Pier,” said Loren McBride Cohen, CEO of The McBride Cohen Company. “We are truly grateful to our partners at JLL for their belief in this dream.”

Tom Wilson

With an anticipated completion during the second half of 2026, Phase I will consist of three Class-A towers ranging from 22 to 24 stories that will sit on a four-story, 836-space parking structure. 

 

The planned unit mix of the project’s 724 units includes studios and one-, two- and three-bedroom apartments. 

 

Residents will benefit an unparalleled living experience with condominium-quality finishes and The Central Green, a lush, 2-acre public park at the heart of the project, along with fitness centers, spas, pools, and doorstep access to other waterfront amenities, including the South Pier Isle Entertainment District.

 

 Phase I will begin the development of the 3.2-million-square-foot resort-inspired development, making it one of the largest master-planned projects in the Western United States.

Brad Miner

Located within an Opportunity Zone, the development sits on the 3.32-acre South Pier Lot 6 and is ideally situated on the southern edge of Tempe Town Lake.

 

 It is positioned northeast of Arizona State University and directly south of Scottsdale. Residents will benefit from a myriad of public transportation options, including the Loop 202 freeway, Phoenix Metropolitan Bus System, Tempe Streetcar System and the Phoenix Metropolitan Light Rail System, all located within proximity to the site.

 

 The land is surrounded by the Novus Innovation Corridor, a planned 330-acre mixed-use urban destination. Additionally, Mill Avenue Entertainment District, Papago Park, and ASU Gammage Performing Arts District are all within proximity of the site. It is less than a 15-minute commute to downtown Phoenix.

Matt Benson

The JLL Capital Markets Advisory team representing the borrower was led by Senior Managing Director Tom Wilson, Senior Managing Director Brad Miner, Senior Director Matt Benson, Director Brock Knapp and Associate Elle Miraglia.

 

“The South Pier project will continue the evolution of the waterfront along Tempe Town Lake, providing world-class housing and retail amenities, which will drive further demand and investment to the city,” said Miner. “This phase is a vital step in generating momentum for the transformative South Pier master plan.”

 

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

Brock Knapp

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:

 

 Jenna Sharp

 Public Relations, Associate

Phone: +1 214 394 3356

Email: Jenna.Sharp@jll.com

jll.com. 

JLL Capital Markets welcomes Bill Baumann to its multi-housing team

 

Bill Baumann

CHICAGO, IL–  JLL Capital Markets announced Bill Baumann has joined the firm’s multi-housing team as a Managing Director in the Chicago office.

 

He will report to Senior Managing Directors Danny Kaufman and Jaime Fink, who co-lead JLL’s Chicago Capital Markets office.

 

“We are very excited to welcome Bill to JLL,” said Kaufman. “His experience and leadership within the industry will be immediately value add to our team and clients.” 

 

In his new role, Baumann will focus on both apartment investment sales and financing deals in Chicago and the Midwest, representing multi-housing owners and developers. He will work alongside David Gaines, who co-leads JLL’s Private Capital Group.

 

 Danny Kaufman

Baumann brings two decades of commercial real estate experience, representing numerous leading private capital, institutional and banking institutions throughout his career.

 

Most recently, he served as principal and managing broker of Monarch Realty Partners, a Chicago-based multi-housing brokerage firm he co-founded in 2016.

 

Baumann earned his bachelor’s degree from Yale University and his MBA from Northwestern University.

 

 

Contact:

 

 Jenna Sharp

 Public Relations, Associate

Phone: +1 214 394 3356

Email: Jenna.Sharp@jll.com

jll.com. 

Plaza Advisors brokers sale of Orlando Square Shopping Center in Orlando, FL

ORLANDO, FL -- Plaza Advisors is pleased to announce the sale of the Orlando Square shopping center. The asset is situated on the southwest corner of Sand Lake Road and South Orange Blossom Trail in Orlando, Florida. The price was not disclosed. 

 

The 183,877 SF retail plaza was 85% occupied and is anchored by Ross, Office Depot, Ollie’s Bargain Outlet and Central Rock Gym. Notable inline tenants include Chipotle, Firehouse Subs, Bright Now Dental and outparcel tenants Chick-Fil-A and Chase Bank.

 

Plaza Advisors represented the seller, AGRE Orlando Square LLC, and was the only broker involved in the transaction. The buyer was Core Investment Management, LLC, a Miami-based active investor of retail properties located throughout Florida with over 2,500,000 SF owned and managed.

 

 This is the second transaction completed over the past year between the seller and Plaza Advisors.

 

 

Contacts

 

Jim Michalak

813.837.1300 x1

jim.michalak@plazadvisors.com

 

Jeff Berkezchuk

813.837.1300 x2

jeffb@plazadvisors.com

 

Florida East Coast Realty sells two commercial condo units in Coral Gables, FL for $2.57 Million or $681 per SF

 

Donna Abood

MIAMI, FL – Florida East Coast Realty (FECR), an integrated real estate development and management company with more than 60 million square feet of construction completed, has announced the sale of suites 102B and 103C at its 2020 Ponce office condo project, totaling 3,771 square feet.

 The two ground floor units sold for $2.57 million or $681 per square foot.

Joe Abood

The buyer, Coral Gables Smile, d.b.a. CG Smile Makeover, is a multidisciplinary dental practice, offering general and preventative dentistry, restorations, and endodontic and orthodontic care.

 

Peyton Dowd

“In today’s evolving market, we are seeing many business owners interested in owning their own space, seeking to take advantage of the investment opportunity,” said Austin Hollo, Chief Operating Officer at FECR. 

 “Commercial condos are very attractive to those with stable or growing businesses looking for a great location.”

 Austin Hollo

Donna Abood, Joe Abood, and Peyton Dowd from Avison Young brokered the deal.

 

“In the past eight months, we have experienced remarkable success in the Coral Gables market,” said Joe Abood. “The city has strong appeal as an attractive alternative to markets such as Blue Lagoon, Downtown Miami, or Brickell.”

About Florida East Coast Realty:

Tibor Hollo

Founded over 60 years ago by Tibor Hollo, Florida East Coast Realty (FECR) has built more than 60 million square feet of construction, consisting of landmark residential and commercial high-rises, single-family homes, government buildings, marinas, high-end retail centers, warehouse complexes, and telecommunications centers.

 

 

Media Contact for FECR:

 

Don Silver / Max Brodsky

 BoardroomPR

 954.370.8999

 donsil@boardroompr.com /

 mbrodsky@boardroompr.com

 

CBRE Appoints Erin Laney Barr as Salt Lake City Market Leader

Erin Laney Barr

 

 Salt Lake City, UT –– CBRE announced  it has appointed Erin Laney Barr Managing Director and Market Leader for its Salt Lake City business, effective July 10.

 

Laney Barr joined CBRE in January 2022 as a Transaction Manager and has facilitated deals for various national and global occupier clients, including charitable organizations and companies in the social, utilities, energy and retail sectors.

 

 Her diverse professional background includes time in real estate law, economic development and real estate development.

 

In 2013, Ms. Laney Barr transitioned from law to a role with the Economic Development Corporation of Utah, where she ultimately served as Vice President of Business Development..

 

“We’re pleased to announce Erin’s promotion to market leader. Her reputation and long-held relationships throughout the community and industry will serve us and our clients well,” said Paul Komadina, Senior Managing Director for CBRE in Phoenix.

 

Paul Komadina

 “Erin has a bold vision for where our business can go, and I’m excited to see her collaborate with our Salt Lake City professionals to make that vision come to fruition.”

 

Laney Barr holds a bachelor’s degree in economics from the University of Utah and a Juris Doctorate from Thomas Jefferson School of Law.

 

She currently serves on the board of directors for The Salt Lake Tribune. In addition, Erin participated in Harvard Business School’s Young American Leaders Program in 2019, and she was recognized as one of Utah Business Magazine’s “40 Under 40” in 2018.

 

CONTACT:

Justin Luera
Senior Corporate Communications Specialist
CBRE | Corporate Communications
T +1 248 936 6896 | C +1 915 383 6064
justin.luera@cbre.com | www.cbre.com

 

 

JLL Capital Markets closes sale of the 140,218-square-foot Independence Square retail center in Plano, TX

 

Erin Lazarus

 DALLAS, TX – JLL Capital Markets has closed the sale of Independence Square, a 140,218-square-foot, grocery-anchored retail center located in the Dallas suburb of Plano, Texas. The price was not disclosed.

 

JLL represented the seller. Head Capital Partners acquired the asset.

 Built in 1977 and renovated in 2005, the 94-percent-leased center is grocery-anchored by a high-performing Tom Thumb that comprises 31% of the total rentable area and has operated as the anchor for 45 years.

Chris Gerard 

The JLL Retail Capital Markets team was led by Senior Managing Directors Chris Gerard and Barry Brown, Director Erin Lazarus and Associate Ben Esterer.

 Tom Thumb’s parent company, Albertsons, is the second-largest supermarket chain in North America, with over 2,300 stores total and 65 stores in Texas.. The property receives approximately 850,000 visits every year.

Barry Brown

Located at 3100 Independence Pkwy., Independence Square sits at a high traffic intersection within a dense neighborhood population.

 

The property caters to over 127,000 residents within three miles with an average household income of over $130,000, which is 20% above the Dallas-Fort Worth average. 

The center is also adjacent to heavy daytime traffic generators, including Plano High School to the south and four surrounding elementary schools in every direction. 

Ben Esterer

Additionally, it is just 35 minutes from Downtown Dallas and 15 minutes from the Legacy office submarket.

CONTACT:

 Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com    

Ware Malcomb Promotes Jonathan Thomas to Principal in Seattle, WA Office

 

Jonathan Thomas

SEATTLE, WA – Ware Malcomb, an award-winning international design firm, announced Jonathan Thomas, AIA has been promoted to Principal in the firm’s Seattle office.

 “Jonathan has been instrumental in growing our practice in Seattle and has demonstrated exceptional talent and leadership,” said Tom Jansen, Northwest Regional Principal for Ware Malcomb. “We congratulate him on this well-deserved promotion.” 

 Thomas joined Ware Malcomb in 2010 in the firm’s Denver office before moving to the Irvine headquarters in 2011 as a Project Designer.

 

Tom Jansen

In 2015, he was promoted to Studio Manager and relocated to Seattle to help spearhead the new office in the region. This new role will mark his fourth promotion since his move to the Seattle region.

A licensed architect in the state of Washington, Thomas is a multi-faceted professional. His experience encompasses all aspects of architecture including self-storage, corporate office buildings, tech, industrial, medical facilities, cold and food, multifamily and retail.

Thomas graduated from North Dakota State University with a Master of Architecture degree and a Bachelor of Science degree in Environmental Design. He is a member of The American Institute of Architects (AIA) and the National Council of Architectural Registration Boards (NCARB).

 Thomas also is an active NAIOP Washington chapter member and a graduate of the NAIOP Young Professionals Group program. He is also an active member of Self-Storage Association (SSA).

 CONTACTS:

 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