Jim Butler to Receive California Lodging Investment Conference [CLIC] Lifetime Achievement Award

Jim Butler 

 

 COSTA MESA, CA, Jan. 16, 2024—Officials of the California Lodging Investment Conference [CLIC], the only hospitality conference focused on the California hotel market, today announced that Jim Butler, founding partner of Jeffer Mangels Butler & Mitchell LLP, and founder and chairman of the Firm's Global Hospitality Group®, will receive the prestigious lifetime achievement award at the upcoming event being held March 6-7, 2024 at the Westin South Coast Plaza in Costa Mesa, Calif.

 

“Jim was the obvious and unanimous choice to receive the third [CLIC] Lifetime Achievement Award," said Craig Sullivan, founder and president, [CLIC]. 

 

 "Not only did he co-found one of the leading hospitality law firms that has become synonymous with the industry, but he also has worked on thousands of acquisitions, sales, developments, brandings, repositionings and financings throughout his career. 

Craig Sullivan

"He has graciously taken the time to mentor new hospitality professionals, helping to make the industry a better place.  For this and so many more reasons, he is the perfect recipient.”

 

To attend the 2024 conference, CLIC is providing its final reduced pricing of $600, which will run through March 5, 2024.  Price at the door will be $750.00.

For more information or to register for the event, please visit https://cliconference.com/.

 

 

 CONTACT:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

 

JV equity and construction financing secured for new industrial project in Bensalem, PA

 

Jon Mikula 

MORRISTOWN, NJ  JLL Capital Markets announced  it arranged joint venture equity and construction financing for a to-be-built industrial project on Somerton Rd. in Feasterville-Trevose, Bensalem Township, Bucks County, Pennsylvania.

 

JLL represented the sponsor, J.G. Petrucci Company, Inc., in arranging the joint venture with Cabot Properties, Inc.  On behalf of the new venture, JLL secured a construction loan with Principal Asset Management.

The JLL Capital Markets team was led by Senior Managing Directors Jon Mikula and John Plower, Director Ryan Cottone and Vice President Michael Lachs.

John Plower

4626 Somerton Road will consist of a 320,250-square-foot, Class A industrial warehouse/distribution facility featuring 36-foot clear heights, 55 tailgate doors, two drive-in doors and 50’ x 54’ column spacing.

 The building will be situated on a 19.5-acre site with 56 trailer spaces and 195 passenger vehicle parking spaces. 

The proposed building is ideally sized and designed to provide highly efficient warehouse space.

 

Ryan Cottone

Bucks County is in the southeast portion of Pennsylvania and is a part of the Philadelphia-Camden-Wilmington MSA, more commonly known as the Delaware Valley.

 

Conveniently located between Philadelphia and New York City, Bucks County is accessible to nearly every kind of transportation network available.

 

One third of the nation's population resides within a one-day drive of Bucks County, making it a prime location for the transport of goods and services not only throughout the Eastern Seaboard, but also throughout the world.

Rendering of a to-be-built industrial project
 on Somerton Rd. in Feasterville-Trevose,
 Bensalem Township, Bucks County, PA

 The property also has proximity to cities such as New York City (75 miles), Baltimore (120 miles), Washington D.C. (158 miles) and Boston (288 miles).

 

CONTACTS:

 

Alli Stent

PR, Hotels & Hospitality, Capital Markets

JLL
M +1 330 329 6750

Ware Malcomb Begins Work on New KeHE Distributors Location in Elkton, FL

Michael Cody

 

ELKTON, FL – Ware Malcomb, an award-winning international design firm, announced the beginning of work on a new office and distribution facility for KeHE Distributors®, located in Elkton, FL.

 

Ware Malcomb’s Oak Brook, IL office is providing architecture, interior design, and branding services for the 530,474 square foot build-to-suit project.

KeHE Distributors, LLC (KeHE) is the largest distributor of natural & organic, specialty, and fresh products to more than 31,000 natural food stores, chain and independent grocery stores, e-commerce retailers, and other specialty products retailers throughout North America.

With over 6,800 employee-owners, KeHE, a Certified B Corporation, drives its mission of serving to make lives better, throughout all aspects of its operation.

The project consists of a two-story executive office suite encompassing approximately 30,000 square feet, along with nearly 500,000 square feet of warehouse and distribution uses. The new facility will replace one of the company’s older buildings located across the street. 

“We are proud to continue our strong partnership with KeHE,” said Michael Cody, Director, Industrial Cold & Food for Ware Malcomb. “This location will serve our client to support their growth nationwide.” 

Project construction has commenced, and completion is expected in 2025.

 

CONTACTS:

 

Rachel Devany

VP Public Relations,

 KCOMM for Ware Malcomb

rachel@kcomm.com

Maria Rodgers, Director,

 PR & Communications, 949.660.9128, 

mrodgers@waremalcomb.com

 

Sean Boswell, PR Associate, 949.660.9128,

 sboswell@waremalcomb.com

 

 

Excelitas Technologies Corp. Invests $2.3 Million in New Pittsburgh HQ

 

Gov. Josh Shapiro
(Photo courtesy of Wikipedia)

HARRISBURG, PA – Excelitas Technologies Corp., a leader in photonics technology, has chosen Pennsylvania as the new home, a $2.3 million investment, creating at least 250 jobs in Pittsburgh over the next four years.

Currently located in Waltham, Massachusetts, Excelitas has committed to a 12-year lease for up to 50,000-square-feet of space in Pittsburgh’s Strip District neighborhood.

Pittsburgh’s Strip District neighborhood
(Photo courtesy of Pittsburgh Visitor Guide)

Pittsburgh’s Strip District has transformed from its historical roots as a center of manufacturing and warehousing into an epicenter of innovation centered around tech and innovation, which includes robotics/autonomy.

 Pittsburgh is home to nearly 1,800 technology firms, including 100+ robotics companies.

“For the past year, I’ve been telling the world that Pennsylvania is open for business ― and Excelitas clearly agrees,” said Pennsylvania Governor Josh Shapiro.

“Excelitas is a leading player in a growing field, and its presence in Pittsburgh will not only create jobs and real opportunity for Pennsylvanians but also send a clear signal that Western Pennsylvania is a national hub for life sciences, advanced manufacturing, and more.”

Since January 2023, Governor Shapiro has announced more than $1.2 billion in new private-sector investment in Pennsylvania as a direct result of his Administration’s work.

Ron Keating

“The Pittsburgh region has developed a significant high-technology presence, combined with a strong work ethic and an engaged state and local leadership who understand the value of job creation,” said Ron Keating, Excelitas Technologies CEO.

“These factors provided attractive competitive differentiators when we undertook our site selection process. We would like to thank Governor Shapiro and his Administration for their strong and compelling support.”

CONTACT:

 

Claudia Velasquez 

:claudia@violetpr.com

 

 

Lee & Associates South Florida Promotes Key Industrial Team Member Michael Avendano as Senior Vice President

Michael Avendano 

  

MIAMI, FL– Lee & Associates South Florida promoted a pivotal member of its team of industrial real estate specialists, with Michael Avendano becoming a Senior Vice President with the firm. Based in Miami, both Avendano was previously Vice President. 

Avendano joined Lee & Associates South Florida in 2020, following two years with Beacon Commercial Realty. He specializes in industrial sales and leasing.

 Matthew Rotolante

“Michael is a rising star with our brokerage,” Lee & Associates South Florida President Matthew Rotolante said. “He earned this promotion through his tremendous production and the example he sets for the rest of our team. I am excited to support his continued growth as Senior Vice President.” 

Notable recent deals brokered by Avendano include: 

Prologis Beacon Industrial Park 

• Representing a pharmaceutical company in a 12,800-square-foot industrial lease within Prologis Beacon Industrial Park 
• Completing a long-term lease for a 27,450-square-foot build-to-suit warehouse in Tampa on behalf of Ontario, Canada-based Plan IT Packaging Systems 
• Representing the seller (along with Rotolante) in the $4.39 million sale of a commercial assemblage in Miami’s Wynwood neighborhood 

Avendano is a member of the Commercial Industrial Association of South Florida (CIASF). He received a bachelor's degree from Florida International University. A Miami native, Avendano is bilingual (English and Spanish). 

 

 CONTACT:

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

Web | Facebook | Instagram | LinkedIn | Twitter 

 

lee-associates.com 

 leesouthflorida.com or follow us on Facebook, LinkedIn, Twitter and Instagram, our company local news. 

 

JLL Capital Markets arranges $38.5 million sale of Milpa & Wesley industrial Center in Miami, FL

Taylor Osborne 

  MIAMI, FL –  JLL Capital Markets has arranged the $38.5 million sale of Milpa & Wesley Center, a 182,575-square-foot infill, shallow bay industrial portfolio in Miami, FL

 JLL represented the seller, Cofe Properties, LLC, and procured the buyer, Miami Palmetto Property, LLC, an entity co-sponsored by East Capital Partners and ABR Capital Partners’ GP Investment Program.

Aaliyah St. Louis

The JLL Capital Markets team was led by Managing Director Luis Castillo, Senior Director Cody Brais, Director Wells Waller, and Analysts Taylor Osborne and Aaliyah St. Louis.

Luis Castillo

The six-building portfolio is located at 6801-7500 NW 77th Ave. and boasts a high occupancy rate of 91%. The front-load industrial buildings feature clear heights ranging from 17 to 19 feet, providing ample vertical space.

 

The presence of 12 dock-high and 101 grade-level doors enhances the property's logistics capabilities. Additionally, the property offers ample parking for tenants and visitors with 275 dedicated spaces.

 

The Miami-Dade market has proven to be a safe haven for investment assets. Limited land supply, sustained demand and low vacancies have allowed landlords to maintain strong rental rates.

 

 The robust tenant demand has also given developers confidence, as over nine million square feet of new space delivered in 2021 and 2022 is already occupied at an impressive rate of over 98%.

 Cody Brais

“We are excited to announce the successful closing of this off-market industrial sale in the heart of Miami, Florida," said Cody. 

"This transaction is testament to the continued demand by investors for well-located shallow bay industrial that we are experiencing throughout Florida and the strong property level performance within the shallow bay property vertical.” said Cody.

 

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 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, please visit JLL’s newsroom. 

 

 

CONTACT:

 Alli Stent

PR, Hotels & Hospitality, Capital Markets

JLL
M +1 330 329 6750

jll.com. 

abrcapital.com.

https://eastcp.com.

 

JLL Capital Markets leads $179,541 refinancing efforts for large portfolio on behalf of Brookdale Senior Living in Dallas, TX

Allison Holland

 

DALLAS, TX –  JLL Capital Markets has closed a seven-year, fixed rate loan for $179,541,000 with Fannie Mae on behalf of Brookdale Senior Living.  

Proceeds were used to refinance a seven-year tranche of a large credit facility that Brookdale closed with JLL and Fannie Mae in 2017. The collateral consists of 47 total properties and 5,102 units that are geographically diversified among 14 states.  

Alex Sheaffer

Brookdale is a repeat client of JLL and Fannie Mae and the largest seniors housing operator in the U.S.

 

The JLL Capital Markets team was led by Allison Holland and Alex Sheaffer.

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

Brookdale Senior Living, Dallas, TX

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, please visit JLL’s newsroom. 

 CONTACT:

 Alli Stent,

 Public Relations, Associate 

Phone: +1 330 329 6750  

Email: Alli.Semans@jll.com 

jll.com