JLL expands its Texas Industrial Investment Sales and Advisory team in Austin and San Antonio

 

Witt Westbrook 

AUSTIN, TX –  JLL Capital Markets announced  Witt Westbrook and Kyle Mueller have joined its Industrial Investment Sales and Advisory team as Senior Directors focusing on the Central Texas region and broader Texas markets. 

Westbrook joins the Austin office and Mueller sits in the San Antonio office and both Senior Directors will report directly to Senior Managing Directors Doug Opalka and Robert Wooten.

 

Westbrook brings five years of industry experience, most recently serving as Managing Director at Transwestern. Mueller has been with JLL for over eight years and moved over from the Industrial leasing team to join Capital Markets.

Kyle Mueller 

JLL’s Industrial group co-lead and Senior Managing Director Trent Agnew sits in the firm’s Houston office and will provide oversight and leadership alongside Wooten and Opalka for this expansion of “Team Texas” in Austin and San Antonio.

 

“We are incredibly excited to bring on Witt and Kyle to strengthen our team in Central Texas and be a key component of JLL’s Texas Industrial capital markets team,” said Agnew. 

“Both bring forth a combination of capital markets and leasing expertise that give them a unique perspective on the market and will allow us to serve our client’s needs at the highest level. 

Trent Agnew 

"Their passion for all things industrial and team-oriented attitude will be great additions for JLL as we look to double down on the growth in the Texas markets that we expect to occur in the coming years. “

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.

Doug Opalka

For more news, videos and research resources, please visit JLL’s newsroom. 

  

 

Contact:

 

Alli Stent

PR, Hotels & Hospitality

 Capital Markets 

Chicago | JLL

M +1 330 329 6750 

CBRE Expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel

  

 Rachael Rothman

Dallas, TX, May 16, 2024 – CBRE expects revenue per available room (RevPAR) growth to improve in the second half of 2024, following a weaker-than-expected first quarter.

 CBRE’s latest forecast projects a 2.0% increase in RevPAR growth for 2024, down from the 3.0% estimated in February 2024. RevPAR is now expected to grow by 3% for the remainder of the year, driven by international tourists, holiday travel and limited supply growth.

 

CBRE forecasts GDP growth of 2.3% and average inflation of 3.2% in 2024. The performance of the lodging industry is closely tied to the strength of the economy, as there is typically a strong correlation between GDP and RevPAR growth.

 

“We anticipate modest growth over the next few quarters, supported by a continued uptick in visitors from overseas and election-related events, such as political party conventions,” said Rachael Rothman, CBRE’s Head of Hotel Research & Data Analytics.

CBRE remains optimistic that RevPAR will achieve a nominal record of $101.20 this year, representing 115% of pre-pandemic levels in 2019. This outlook is based on projected average daily rate (ADR) growth of 1.7% and a 0.2% increase in occupancy.

Michael Nhu

“Slower RevPAR growth reflects softer demand, stickier inflation and high interest rates,” said Michael Nhu, Senior Economist and CBRE’s Head of Global Hotels Forecasting.

 

 “People have already spent a significant portion of their pandemic-era savings, and on top of that, the lingering inflationary pressures are putting a strain on discretionary spending, especially for more price-sensitive consumers."

 

CBRE expects muted supply growth in the medium term due to elevated financing and construction costs. For 2024, CBRE expects supply growth of just under 1%, with hotel supply projected to have a compound annual growth rate (CAGR) of 0.9% over the next three years.

The May 2024 edition of Hotel Horizons for the U.S. lodging industry, 65 major markets, the six hotel chain scales and six location types can be purchased by visiting: https://pip.cbrehotels.com/hotelhorizons. CBRE’s baseline forecasts do not contemplate an international war or a pervasive recession. CBRE also produces forecasts based on upside and downside scenarios.

  

Contacts:

 

Chris Daly

President

DG Public Relations

 

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 

Cole Mortland

+1 619 985 8171

cole.mortland@cbre.com

www.cbre.com.

 

 

JLL Capital Markets led the $108 million financing effort on behalf of Hines and Trez Capital for a 13-property self-storage portfolio in the Dallas-Fort Worth Metroplex

  

 Robb DeJean

DALLAS, TX - JLL Capital Markets has arranged a $108 million financing with New York Life Real Estate Investors for a 13-property, self-storage portfolio located throughout the Dallas-Fort Worth Metroplex.

 On behalf of the borrower, a joint venture between Hines and Trez Capital, JLL Capital Markets arranged the five-year, fixed-rate loan through New York Life Real Estate Investors, who was able to provide an early rate lock, interest-only payments, and prepayment flexibility early in the loan term.

 

“This transaction marks a key milestone for our self-storage platform, reflecting our strategy to deliver Class A, accessible storage solutions in high barrier markets,” stated Robb DeJean, Managing Director at Hines.

 

John Hutchinson

 “We are excited to expand Hines’ longstanding relationship with New York Life Real Estate Investors and want to thank all parties involved, including JLL who led these efforts.”

 

"Our strategic partnership with Hines in our self-storage portfolio has yielded a remarkable investment opportunity,"  said John Hutchinson, Co-CEO and Global Head of Origination at Trez Capital.

 

 "Partner selection is critical at Trez Capital, and by leveraging Hines' industry expertise, and the attractive long-term financing provided by New York Life Real Estate Investors, we have delivered exceptional value to our investors with this transaction.” 

John Bauman

The JLL Capital Markets Debt Advisory team representing Hines included Director John Bauman and Analyst Jordan Buck.

Jordan Buck

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:

 Kristen Murphy,

JLL Director,

Public Relations

Phone: +1 617 543 4873

Email: Kristen.Murphy@jll.com

 

jll.com.

www.hines.com 

www.trezcapital.com.

 

 

Stos Partners completes $16.5 million sale of 94,186-SF industrial building in Phoenix, AZ

  

SOLD: $16.5 million sale of 94,186-SF industrial
building in Phoenix, AZ

 CJ Stos

PHOENIX, AZ -- Stos Partners, one of the most active commercial real estate investment and management firms, has announced the successful sale of a 94,186-square-foot industrial building located on 4.20 acres at 1002 S. 54th Avenue in Phoenix, Arizona to a private investor for $16.5 million.

Stos Partners acquired the vacant building in December 2022
for $10.9 million.  

Led by Principal and Founder CJ Stos, Partner Jason Richards, Executive Vice President Jay Boyle and Vice President of Acquisitions Morgan Hill, the company implemented a capital improvement program, stabilizing and re-tenanting the asset. Improvements included warehouse upgrades, dock door replacements, interior and exterior painting, parking lot repairs and miscellaneous deferred maintenance repairs.

 Jason Richards

“The Phoenix industrial market has seen a spike in tenant demand in recent quarters,” says CJ Stos, Principal at Stos Partners. “Our team identified this asset’s value during the initial acquisition in 2022. Through deep relationships with local brokers, we were able to secure a buyer in a timely manner.”

“This market saw nearly 2.9 million square feet of net absorption in the first quarter with more than 3.8 million square feet of pending leases expected to be signed by year’s end according to JLL’s Q1 Phoenix Industrial Report,” said Richards.  “During the period, the market also saw rents grow by 2.4 percent.”

Built in 1992, the subject property features 83,889 square feet of warehouse and distribution space and approximately 7,000 square feet of office space. Situated in the Southwest Phoenix submarket, the building is ideally located within a 20-minute drive of all parts of the Phoenix area.

Jay Boyle

Stos Partners was represented by Phil Haenel, Will Strong and Foster Bundy of Cushman & Wakefield as well as Anna Josephson of KBC Advisors. 

About Stos Partners

Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors.

 

Morgan Hill

With a track record spanning over $1.7 billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through value-add acquisitions and strategic repositioning of industrial and multifamily assets of both institutional and small-to-mid-cap commercial properties.

Anna Josephson

Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably. 

 

CONTACT:

 

David Ebeling

Ebeling Communications

(949) 861-8351

david@ebelingcomm.com

 www.stospartners.com.

Ware Malcomb Promotes Christina Kolkas to Principal: Names Sean Fung Director, Multifamily in Vaughan, Ontario, Canada

Christina Kolkas

  VAUGHAN, Ontario, CANADA – Ware Malcomb, an award-winning international design firm, has promoted Christina Kolkas to Principal and welcomes Sean Fung as Director, Multifamily.  

 Kolkas brings 20 years of interior architecture and design expertise to her role and joined Ware Malcomb in 2017 as Director, Interior Architecture and Design in the Vaughan Office.

Sean Fung

In 2019, she spearheaded the business case for opening both the Toronto and Ottawa offices and was subsequently promoted to Regional Director.

 “Christina is a positive and driven leader who has played a crucial role in the growth of the Canadian Region. We look forward to her continued leadership and contributions to the firm,” said Frank Di Roma, Regional Vice President of Ware Malcomb.

She graduated from University of Toronto, St. George Campus with a Bachelor of Arts degree in Architectural Design.

 Sean Fung brings more than ten years of experience in Canada's high-rise and mid-rise residential market to his new position in the Vaughan office as Director, Multifamily.

 

Frank Di Roma

Fung has managed a variety of residential projects from concept to production, including working drawings for permit, tender and construction. His experience with complex BIM integration has been a strong skill set while overseeing large teams as prime consultant. In his career to date, he has designed and constructed over 4,500 multifamily units across Ontario.

“We are pleased to welcome Sean and look forward to his contributions” Di Roma said. “His experience in the Multifamily sector and diverse knowledge base make him an ideal fit for Ware Malcomb as we continue to grow in this important practice area.”

Fung earned a Bachelor of Design degree in Environmental Design from Ontario College of Art & Design University in Toronto and graduated with a Diploma of Architecture Technology from Humber College.

CONTACT:

 Rachel Devany

VP Public Relations,

 KCOMM for Tangram

 Maria Rodgers, Director, PR & Communications, 949.660.9128, mrodgers@waremalcomb.com

 Sean Boswell, PR Specialist, 949.660.9128, sboswell@waremalcomb.com

waremalcomb.com

PEBB Enterprises Welcomes Acquisitions Associate Ben Gust

Ben Gust

BOCA RATON, FL –– PEBB Enterprises, the private equity real estate investment company, enhanced its growing team with the addition of Ben Gust as Acquisitions Associate. Gust will play a critical role as PEBB’s portfolio continues to expand.

Gust’s responsibilities at PEBB include underwriting and due diligence for new acquisitions and supporting asset management functions for a significant portion of the company’s portfolio.

 Ian Weiner 

Originally from Wisconsin, Gust spent the last five years in Atlanta as an Associate with 26th Street Partners and Jamestown LP. He honed his skills in financial modeling, asset management and portfolio fund management across retail, office and multifamily real estate.

“We are very pleased to welcome Ben Gust to the PEBB family,” PEBB President & CEO Ian Weiner said. “His arrival comes at a time when our company is embarking on major mixed-use developments across South Florida and evaluating exciting new investment opportunities. We look forward to leveraging his knowledge and experience.”

Gust earned a bachelor’s degree in Real Estate and Finance from the University of Wisconsin-Madison.

 

CONTACT: 

 

Daniel Benjamin

Account Director

dbenjamin@boardroompr.com

C 954-618-8287

O 954-370-8999

 

Web | Facebook | Instagram |

 LinkedIn | Twitter

https://pebbenterprises.com/.