JLL Capital Markets closes sale of the 112,162-square-foot Muse Shops at Midtown in Dallas, TX

 

Erin Lazarus

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DALLAS, TX – JLL Capital Markets has closed the sale of Muse Shops at Midtown, a 112,162-square-foot, recently redeveloped, value-add retail center located in Dallas, Texas.

 

JLL represented the seller in the transaction.

 

The JLL Retail Capital Markets Investment Sales Advisory was led by Senior Managing Director Adam Howells, Director Erin Lazarus, Associate Megan Babovec and Analyst Keenan Ryan.

Megan Babovec

Built in 1999 and renovated in 2022, the 58-percent-leased, four-building Muse Shops at Midtown features a WALT 8.7 years and is leased to a wide variety of tenants, including Starbucks, Land Design, United Real Estate and Natuzzi Editions.

 

 The property offers the accretive opportunity to add value through the additional lease-up of over 14,000 square feet of retail space. In addition, the center has demonstrated positive leasing momentum with over 70,000 square feet of new leases signed in the last 12 months.

 Keenan Ryan

 Located at 5203-5233 Alpha Road, Muse Shops at Midtown sits within a thriving, urban mixed-use environment in North Dallas. The center is adjacent to both a recently delivered, 289-unit multi-housing property, as well as the Galleria Dallas Mall, a 1.5-million-square-foot regional shopping mall that attracts over 7.4 million visits annually.

 

The property is ideally situated at the confluence of the Dallas North Tollway and I-635, which sees over 540,000 vehicles per day and serves as DFW’s busiest intersection.

Adam Howells

This strategic location provides visitors direct access to the most affluent Dallas neighborhoods, including Preston Hollow, Prestonwood, Preston Trail, Willow Bend and Bent Tree, and offers seamless connectivity to the greater DFW metroplex.

 

In addition, within a five-mile radius of the center is a daytime population of 533,924 and a consumer spending power of $20.2 billion.

 

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

Muse Shops at Midtown, a 112,162-square-foot,
 recently redeveloped, value-add retail center
 located in Dallas, TX

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.

 

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

 

 CONTACT:

 

Jenna Sharp

JLL, Public Relations,

Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

PEBB Enterprises Closes $5.57 Million Sale of 22,000-Square-Foot Section of Westview Plaza in Tennessee

Westview Plaza, Lebanon, TN

 Lebanon, TN and Nashville, TN –– PEBB Enterprises, a South Florida-based full-service private real estate investment company, completed the $5.57 million sale of a 22,000-square-foot section of Westview Plaza in Lebanon, Tennessee.

 The shadow retail section includes leases with China Wok, Mysa Nails & Spa, T-Mobile and Petco.

 Ian Weiner 

The transaction closed on April 23. Berkeley Capital Advisors represented the seller, a joint venture between PEBB Enterprises and The Sembler Company, and Compass Real Estate represented the buyers, Westview Investment, LLC and AMB Investment, LLC.

“Our team is excited to have executed the successful disposition of this portion of the property at a great time,” PEBB Enterprises President and CEO Ian Weiner said. “We are always looking for new opportunities to add to our national portfolio, where we can bring value to communities through our leasing efforts.”

Located east of Nashville at 1418 West Main Street,
 approximately 30 minutes outside of Nashville,
Westview Plaza sits on 18 acres 

Located east of Nashville at 1418 W. Main Street, approximately 30 minutes outside of Nashville, Westview Plaza sits on 18 acres and includes additional leases with Subway, GNC, Great Clips, Bank of America and anchor tenant, Kroger, which completed a 40,000-square-foot expansion in 2022.

PEBB Enterprises previously owned a separate section of the plaza and sold it to Kroger for its expansion.

In 2022, PEBB Enterprises sold Germantown Village Square in Memphis, Tennessee for $35.52 million. The successful disposition of Westview Plaza represents PEBB’s exit from the Tennessee market.

 CONTACT:

 

 Daniel Benjamin

Account Director

dbenjamin@boardroompr.com

C 954-618-8287

O 954-370-8999

Web | Facebook | Instagram | LinkedIn | Twitter 

 

https://pebbenterprises.com/.  

sembler.com.

 

 

Stream Realty Partners Expands Presence in Florida Tapping Two Seasoned Commercial Real Estate Professionals to Lead New Tampa Office

Gary Godsey 

 TAMPA, FL –– Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, announces the expansion of its presence in Florida with the opening of a new office in Tampa. 

This strategic move aligns with Stream’s commitment to serving clients in key markets and further strengthens its foothold in the region.

 Accompanying this expansion are the additions of two highly experienced commercial real estate experts, Executive Managing Director Gary Godsey and Executive Vice President Jordan Fogler, who join Stream from JLL.

 

Jordan Fogler

“Expanding into Tampa is a significant milestone for Stream,” said Stream Executive Managing Director Greg Katz. 

“We are excited to welcome Gary and Jordan, as their exceptional track record and industry caliber perfectly align with our approach.

 

"Their proven ability to not only lead but also to develop young talent resonates deeply with our commitment to putting people first, which is a cornerstone of Stream’s values.”

 

 Greg Katz.

Katz added, “This expansion and the opportunity to bring aboard Gary and Jordan, who hold accomplished and diverse backgrounds of demonstrated leadership, will further elevate our ability to deliver exceptional service and results to our clients and prospects as we expand our presence across Florida.”

 

.

 

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.”

 

Western Retail Advisors Sells Avenue at Olive Park in Glendale, AZ for $5.5 million

  

 

Avenue at Olive Park is situated on almost three acres
 at 5814 W. Olive Avenue. in Glendale, AZ

 

GLENDALE, AZ – Phoenix-based retail brokerage specialist Western Retail Advisors (WRA) has completed the $5.5 million sale of Avenue at Olive Park, a fully leased retail center located at the northeast corner of Olive and 59^th avenues, directly across the street from Glendale Community College in Glendale, Arizona.

 The high-profile corner is visible to over 61,000 vehicles per day, with access to almost one-half-million residents within five miles.

The center is fully leased with a mix of local and national food and retail uses, including co-tenancy from retailers such as dd’s Discounts, McDonald’s, Panda Express, Jack in the Box and Circle K.

 Darrell Deshaw 

WRA Vice President Darrell Deshaw represented the Avenue at Olive Park property seller, a California family office, in the transaction. Gabe Manzanares from Compass Commercial represented the buyer, 2015 K&A Kisidiaris Trust.

 “Avenue at Olive Park provides exceptional stability and visibility, with very strong daytime and nighttime foot traffic, and the opportunity for this new owner to grow alongside Phoenix’s booming retail market and steady rent growth,” said Deshaw. “It is a great transaction underscoring Glendale’s position as a dynamic retail market with continued potential.”

 

Gabe Manzanares

Avenue at Olive Park is situated on almost three acres at 5814 W. Olive Ave. in Glendale. It is a short drive from the U.S. 60 and nearby economic drivers like Glendale’s Sports and Entertainment District and Luke Air Force Base.

 CONTACT:

Stacey Hershauer

focusAZ 

 P 480.600.0195

www.focusaz.com

www.w-retail.com.

 

 

 

 

 

JLL completes sale and financing of office and data center asset in Hopkinton, MA

117 South Street., a two-story office and data center
building totaling 56,324 square feet
in Hopkinton, MA

  

 

Tom Sullivan

BOSTON, MA –  JLL Capital Markets has completed the sale and financing of 117 South St., a two-story office and data center building totaling 56,324 square feet in Hopkinton, Massachusetts. The price was not disclosed.

 

JLL marketed the property on behalf of a confidential seller, and procured the buyer, Rhino Capital Advisors. Additionally, JLL worked on behalf of Rhino to secure the acquisition financing. Loan proceeds were used to acquire the property and future proceeds will be used for the repositioning of the building.

 

117 South St. is located in an established tech and R&D cluster in western Massachusetts, about 26 miles west of Boston. The property has convenient access to Interstates 495, 90 and 95, providing connectivity to the entire Greater Boston area.

Brett Paulsrud 

The property has a flexible infrastructure that can accommodate multiple uses. Key features include a 100 pound plus floor load, dedicated loading area with two loading docks, raised access floors and ample power. Rhino has plans to increase the asset’s clear height by removing a portion of the second floor to better accommodate R&D/flex use.

 

JLL’s Investment Sales and Advisory team representing the seller was led by Managing Director Mike Restivo and Senior Director Scott Carpenter.

 

Mike Restivo

JLL’s Debt Advisory team representing the borrower was led by Senior Managing Directors Brett Paulsrud and Tom Sullivan.

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

 The group’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.

 

Scott Carpenter

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:

 

Kristen Murphy

 JLL Director,

 Public Relations

Phone: +1 617 543 5873

Email: Kristen.Murphy@jll.com