Thursday, August 15, 2024

JLL Hotels & Hospitality group welcomes Tony Muscio as Senior Managing Director

 

Tony Muscio 

LOS ANGELES, CA – JLL’s Hotels & Hospitality group announced Tony Muscio will be joining as a Senior Managing Director for its JLL Hotels & Hospitality group, leading the Western region.

 

With over 20 years of experience in the real estate industry, including 18 years at JLL, Muscio brings a wealth of knowledge and expertise to his new role. Specializing in the sale of luxury resorts and trophy hotels, Muscio has been involved in over $12 billion worth of hospitality transactions over the course of his career.


Kevin Davis


 Based out of JLL’s Los Angeles office, Muscio will report to Kevin Davis, Americas CEO for Hotels & Hospitality, and will work closely with Jeff Bramson and Jeff Sause, who co-head JLL’s Los Angeles Capital Markets team.


Jeff Bramson 

"We are thrilled to welcome Tony back to JLL to lead our Western region," said Davis. "Tony’s appointment is a commitment to growing our business in California, Hawaii, Arizona and Colorado, which are among the largest hospitality markets in the country. His leadership and expertise will play a pivotal role in driving business with our largest clients in this key region. I’m extremely excited to welcome Tony back."


Jeff Sause

Muscio’s career started at PKF Consulting, where he conducted hotel feasibility studies and appraisals. He later joined JLL in 2004, where he spent nearly two decades, most recently as a Managing Director in the Hotels & Hospitality Group, covering the West Coast and working on some of the largest sales in the region, including the Four Seasons Resort Hualalai, Four Seasons Resort Bora Bora, Montage Beverly Hills (now The Maybourne Beverly Hills) and the recapitalization of Sunset Tower Hotel. Muscio’s latest role was as a Managing Director at KBC Advisors.

 

Muscio holds a bachelor’s degree from Cornell University’s School of Hotel Administration, where he is also a recurring guest lecturer.  

 

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

.

 

CONTACT:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

mdhpartners.com.

 

 

Class A industrial project, KV Buckeye 10, trades hands for $51 million in Buckeye, AZ

 

Kelly Royle

PHOENIX, AZ   – JLL Capital Markets brokered the $51 million sale of KV Buckeye 10, a new 249,600-square-foot industrial complex that is 60% leased. The project is located in Buckeye, Arizona, which has been ranked as the fastest-growing city in the U.S. over the past five years.


Greer Oliver 

JLL worked on behalf of the seller, Kentwood Ventures, to facilitate the sale to MDH Partners, LLC. KV Buckeye 10, completed in August 2023, is situated on an 18.7-acre site and consists of two buildings: one spanning 115,200 square feet and the other covering 134,300 square feet.

John Lydon 


The project was designed to seamlessly accommodate tenants of various sizes, from mid-bay to large enterprises, with optimal efficiency.


Additionally, the project is the only existing Class A industrial project in Buckeye with spaces available below 50,000 square feet.

Strategically positioned off the I-10 Freeway and Verrado Way, KV Buckeye 10 offers unparalleled access to the West Valley. Tenants benefit from high visibility along the I-10 Freeway, with convenient proximity to the Inland Empire, the Ports of Los Angeles and Long Beach, all within a travel time of 4.5 to 5.5 hours.


 Jim Zemezonak 

“Kentwood was fortunate to benefit from locating early in the robust I-10 corridor, dependable backers in ICM and CIBC and reliable support from the City of Buckeye,” said Jim Zemezonak at Kentwood Ventures.

 

The JLL Investment Sales and Advisory team was led by Senior Director Greer Oliver and Associate Connor Nebeker-Hay, who represented the seller in this transaction. JLL’s Managing Director John Lydon and Vice Presidents Hagen Hyatt and Kelly Royle were also retained by MDH to continue serving as the project’s leasing team.


Connor Nebeker-Hay

"KV Buckeye 10 is a rare investment opportunity," said Oliver. "It offers stable cash flow with 60% of the project already leased, and there is potential to create value by leasing the remaining space.

 

"The demand for small and midbay tenant sizes in Buckeye has remained robust, as there are no available spaces for tenants requiring less than 50,000 square feet. This strong demand is evident in the project being 43% pre-leased prior to completion."

 

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

Hagen Hyatt 





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

 

About Kentwood Ventures

 

Kentwood Ventures is a private real estate development and investment company focused on superior risk/return opportunities. Together the principals, Kevin Dretzka and Jim Zemezonak, bring a combined 70 years of experience and have completed $8 billion in transactions both locally and nationally.

 

CONTACT:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

mdhpartners.com.

 

 

Wednesday, August 14, 2024

Eastwind Development Strengthens Expanding Team with Addition of Adam Schmitt

Adam Schmitt

PALM BEACH GARDENS, FL – Eastwind Development, a premier multifamily development company with a proven track record across South and Central Florida, announces the addition of Adam Schmitt as Vice President of Asset Management.

 

 He is based in Eastwind’s Palm Beach Gardens corporate headquarters. Schmitt oversees operations and leasing across all of Eastwind’s properties, while providing key support with acquisitions, development coordination and dispositions.

 

“We are excited to bolster our team with the arrival of Adam Schmitt,” Eastwind President Jack Weir said. “Adam’s vast experience and deep knowledge of all aspects of owning and operating real estate are extremely beneficial as we continue our growth plans across Florida.”

 

Jack Weir

Prior to joining Eastwind, Schmitt served as Vice President of Asset Management at Pebb Capital.. Before Pebb, Schmitt held the position of Finance and Portfolio Manager at multibillion-dollar real estate investment firm Westbrook Partners.

 

Schmitt earned a Bachelor of Business Administration (BBA) in Management and Accounting and a Master of Professional Accounting from the University of Miami. He is a licensed Certified Public Accountant and Real Estate Sales Associate in Florida.

 

 

CONTACT

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

Web | Facebook | Instagram | LinkedIn

 

www.eastwinddevelopment.com.

 

Tuesday, August 13, 2024

Reliable Properties acquires four-acre Barnsdall Square Shopping Center in Los Angeles, CA

Barnsdall Square, a highly sought-after
 grocery/drug anchored retail center
 in Los Feliz, one of Los Angeles's
 premier neighborhoods. 

LOS ANGELES, CA – JLL Capital Markets brokered the sale of Barnsdall Square, a highly sought-after grocery/drug anchored retail center in Los Feliz, one of Los Angeles's premier neighborhoods. The price was not disclosed.

Jeff Adkison 

The transaction includes the acquisition of the 2.86-acre parcel on 1625 N Vermont Ave. and a partial interest in the 1.39-acre parcel on 1533 N Vermont Ave.

 JLL represented the seller DMDE Properties, and Reliable Properties acquired the property.


The JLL Retail Capital Markets team was led by Managing Directors Jeff Adkison and Bryan Ley alongside Senior Directors Rob McRitchie and Brendan McArthur.


Bryan Ley
Spanning over 6.3 acres, Barnsdall Square features a total of 92,000 square feet of leasable space, boasting a diverse tenant mix, including Jons Marketplace Grocery Store, Rite Aid Pharmacy and 22 other tenants.


 The property also provides a blank canvas for a value-add retail strategy or future redevelopment.

 

Strategically located along N. Vermont, Barnsdall Square enjoys excellent visibility and offers seamless connectivity to Hollywood Blvd. and Sunset Blvd along with convenient access to multiple nearby bus stops. 


The property is near major medical centers such as Kaiser Permanente Center, Hollywood Presbyterian Medical Center and the Children's Hospital Los Angeles. Additionally, set in the highly desirable neighborhood of Los Feliz, the center benefits from a strong demographic profile and unrivaled market appeal.

 


Brad Nourafshan
Reliable Properties had assembled the remaining portions of Barnsdall Square in multiple off-market transactions over the past year. Brad Nourafshan led Reliable Properties’ efforts in successfully assembling the Barnsdall Square Shopping Center from three different owners.


“The Barnsdall Square Shopping Center is a one-of-a-kind asset located in Los Feliz with great potential and we are happy to have worked with JLL to acquire the last portion of the shopping center,” said Brad Nourafshan. “JLL was an absolute pleasure to work with and are also very experienced in handling complicated transactions.”

 

"In a retail market that is witnessing a scarcity of quality spaces, Los Feliz stands out as one of the most sought-after destinations in Los Angeles. The sale of Barnsdall Square attests to the increasing demand for high-quality retail assets in this thriving neighborhood," said Adkison.

 

“Barnsdall Square has a long history of serving the needs of the local community and the region. The sale marks a new beginning for the asset and we look forward to seeing the future growth of the asset,” said Ley.

 

Reliable Properties’ plans for the 6.3 Acre Barnsdall Square Shopping Center are unknown at this time. Please contact Brad@reliableprop.com with any inquiries.

 

Aperture Hotels Names Patrick Short Chief Operating Officer

Patrick Short
 

 ATLANTA, GA —Officials of Aperture Hotels, a leading hospitality management provider specializing in premium lifestyle, compact full-service, and select-service hotels, announced Patrick Short has been named chief operating operator. 

 

 In his new role, Short will provide cross-disciplinary leadership and direct operational execution and commercial strategy for Aperture's expanding portfolio of 27 managed hotels.


Charles Oswald

“With more than thirty years of hospitality operations experience, Patrick is the perfect fit for Aperture’s growing portfolio to continue improving operations performance metrics across the board," said Charles Oswald, president and CEO, Aperture Hotels. 


 "From Wischermann Partners and TPG Hotels, Resorts & Marinas to Peachtree Group Hospitality Management, Patrick has helped scale operations at some of the most well-respected management companies in the hospitality industry.”

Prior to joining Aperture, Short was president of Peachtree Hospitality Management, where he led the company to rank among the top 15 largest hotel management firms in the U.S., expanding the portfolio from 27 to 100 hotels and more than 10,000 rooms with almost 3,000 team members.

 

Short received a degree in Hospitality and Tourism Management from The University of Wisconsin-Stout and an MBA in Finance from Argosy University – Twin Cities. He is a Certified Hotel Administrator (CHA) from the American Hotel and Motel Association and holds a Food Safety Certification.

 

 

CONTACT:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.c

 

Monday, August 12, 2024

SpringHill Suites Jacksonville Beach Oceanfront Names Samantha Pritchard Director of Sales

  

Samantha Pritchard 

 JACKSONVILLE, FL, Aug. 12, 2024 Key International, a globally recognized real estate investment and development company, and Shaner Hotels, an award winning, international hotel owner, operator and developer, today announced Samantha Pritchard has been named director of sales of the new 156-suite SpringHill Suites by Marriott Jacksonville Beach Oceanfront.

  

Michael Weihs

Pritchard joins Michael Weihs, who joined Shaner as general manager last fall. 


“Jacksonville Beach is booming, and the new SpringHill Suites Jacksonville Beach Oceanfront is well positioned to serve both the discerning business traveler and leisure guest,” Weihs said. 

 

Pritchard joined Shaner Hotels as the dual director of sales for the Courtyard by Marriott Jacksonville Beach Oceanfront and the Fairfield Inn Jacksonville Beach in Spring 2023 before assuming her promotion to area director of sales in January 2024.

 

Her background is in hotel renovations and new construction—leading the efforts as director of sales of the Residence Inn Jacksonville, where she led the pre-opening sales efforts for the first extended-stay hotel in the Brooklyn Riverside market.


SpringHill Suites by Marriott Jacksonville Beach Oceanfront.


Situated oceanfront at 465 North First Street, the hotel is convenient to the area’s top attractions and businesses, including the Jacksonville Beach Pier, Sea Walk Pavilion, the PGA Tour at Sawgrass, Mayo Clinic, St. John’s Town Center, EverBank Stadium, University of North Florida and multiple area golf courses.

 

With more than 25 years of hospitality management experience, Weihs has held general manager positions in several markets in Florida, including Tampa, Orlando, Stuart/Hutchinson Island and St. Augustine.

 

CONTACT:

 

Chris Daly

 (703) 864-555

chris@dalygray.com