Henin Launching Phases 3 and 4 of Springview Woods Sooner than Planned in DeBary, FL; Phases 1 and 2 nearly Sold Out

Jerome Henin

DeBary, FL---   Henin Group’s Springview Woods, which opened in 2018, will launch Phases 3 and 4 with another 97 homesites at the 64-acre community of single-family homes by D.R. Horton.  

  Nine new homes were just sold in March.  Phases 1 and 2 at Springview Woods are nearly sold out less than a year after the homebuilder opened its model home at 400 Tallow Wood Circle at the community off U.S. 17-92, down the street from West Volusia SunRail Station.

West Volusia Rail Station

New one and two-story single-family homes in six distinct designs with three to five bedroom floor plans are priced starting from the mid $200s. 

D.R. Horton is the preferred builder at the community with ongoing successful sales from their model home.

“We’re pretty sure the remaining homes in Phases 1 and 2 will go pretty fast, so we have launched final phases 3 and 4 sooner than expected.  Infrastructure and site development is already underway there with completion anticipated in October,” said Jerome Henin,  president of Henin Group.

“Sales are going extremely well at this development as more and more homebuyers who commute are open to public transportation and living near the SunRail,” he explained.    

There will be 195 homes in all four phases of Springview Woods. Buildout is projected to be in 2022.   The Junction, a new town center that will be getting underway nearby on 17-92 is also slated for completion by 2022.

CONTACTS:

         

Jerome Henin, Founder / President, Henin Group,

386-668-7811;   jerome@henin-co.com

Rob Lawson, VP of Sales, D.R Horton,

407-466-4363 RLawson@DRhorton.com

Larry Vershel or Beth Payan, Larry Vershel Communications,

407-644-4142  lvershelco@aol.com  

Proper Title, LLC Earns Two Awards; named one of Chicago’s “Best Places to Work” by Crain’s Chicago Business; awarded 2018 'Excellence in Action' award by Fidelity National Title Group, Inc.

The Proper Way

  CHICAGO, IL – Proper Title, LLC, a full-service title insurance firm serving the commercial and residential real estate industry, today announced two recent award recognitions. It has been named one of Chicago’s “Best Places to Work,” an annual ranking of 100 companies compiled by Crain’s Chicago Business. 

Separately, Proper Title also received the “Excellence in Action” award from Fidelity National Title Group, Inc., which is a member of the Fidelity National Financial (NYSE: FNF) family of companies and the nation’s largest group of title companies and title insurance underwriters.

This is the first time Proper Title has earned a spot on the competitive list of Crain’s “Best Places to Work.” 

David Garside

“While we’ve rapidly added and expanded offices throughout the Chicago metropolitan area, we never lost sight of our vision of providing an enjoyable and supportive place for our employees to work,” said David Garside, executive vice president of title and escrow operations at Proper Title. 

“The positive energy of our team results in efficient closings that the real estate attorneys and brokers really appreciate, and we highly value the relationships we’ve built with our customers.”

Proper Title was also recognized this month by Fidelity National, earning the “Excellence in Action” award for the fifth year in a row. The award is given to title insurance agencies that exemplify outstanding performance in best practices, customer service and operations, among other criteria.

                               

Contacts: 

 Paula Widholm, pwidholm@taylorjohnson.com, (773) 726-7993

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

propertitle.com.

JLL Q1 Phoenix Industrial Report highlights rise of 50,000 SF-- to 200,000-SF sector; Mid-bay product represents nearly half of all industrial construction

Kyle Westphall

PHOENIX, AZ  – According to JLL’s Q1 Phoenix Industrial Market Report, the mid-bay industrial market now represents 42.1 percent of the Valley’s under construction industrial stock. 

The report points to a lack of product in the 50,000- to 200,000-square-foot size range as a driver of this new construction.

“For many years, demand for Phoenix industrial space has centered around very large, e-commerce and distribution-focused tenant requirements,” said JLL Vice President Kyle Westfall.

9494 West Buckeye Road, Phoenix, AZ

“The rise of the mid-bay sector is a welcome addition to that demand. It balances out our industrial landscape and allows the large-scale and mid-size sectors to grow in tandem and complement each other – a trend we think will continue in a very robust way.”

As noted by JLL, mid-bay product has recorded more than 5 million square feet in gross leasing in the past 18 months, at an average rate of three deals per month and an average lease size of just under 100,000 square feet. The first quarter continued to reflect that trend, recording nine deals that collectively total just under 900,000 square feet.

The Southwest submarket enjoyed the lion’s share of mid-bay leasing activity with 528,410 square feet, or 72.6 percent, of all first quarter commitments. The largest of these deals was CHEP Pallets, taking the full 186,336-square-foot building at 9494 W. Buckeye Rd. for warehousing and distribution.

In metro Phoenix, there are currently 23 mid-bay projects underway. Together, these total more than 2.5 million square feet, or 42.1 percent, of all local industrial stock currently under construction.

“Mid-bay industrial demand is rising at a rapid enough pace that some of these projects are already starting to see pre-lease activity,” said Westfall.

“One example is 777 South 67^th Avenue, which has already secured a 109,620-square-foot lease by United Foods International that will take over half of the 187,920-square-foot building.”

777 South 67th Avenue, Phoenix, AZ

As demand increases, so are mid-bay industrial rents, now sitting at an average $0.67-per-square-foot, a 28.8 percent premium over the Valley’s average asking rate of $0.52-per-square-foot.

Across the Phoenix industrial sector, first quarter industrial fundamentals remain strong. Six million square feet of new space is under construction alongside 1.3 million square feet of net absorption, and overall rental rates have increased by 4 percent year-over-year. 

To access JLL research for Phoenix and across the U.S., please visit the company’s research page at https://www.us.jll.com/en/trends-and-insights#research.

Contact: 

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

www.jll.com

HFF arranges equity for 1629 Market Street in San Francisco

                                                                                           Rendering by David Baker Architects
1629 Market Street Apartments, San Francisco, CA

Scott Bales

SAN FRANCISCO, CA –– HFF announces it has arranged joint venture equity for the development of 1629 Market Street, a fully entitled, 420-unit multi-housing project in San Francisco, California.

Working on behalf of the developer, Strada Investment Group, HFF arranged a joint venture equity partnership with an affiliate of Stockbridge Capital Group for the approximately $320 million project.

1629 Market Street will encompass 420 units averaging 732 square feet along with nearly 9,000 square feet of retail situated within three mid-rise buildings that will share a sub-grade parking garage. 

Charles Halladay

The project will be constructed on 1.7 acres at the intersection of Van Ness Avenue and Market Street in San Francisco’s Mid-Market technology hub. 

The 24/7 location provides access to more than 400 restaurants and bars within an eight-block radius along with immediate access to public transportation options and approximately 30 percent of the city’s largest technology-based companies, all of which has garnered the site a Walk Score® of 99.  The project is due for completion in mid-2021.

Jordan Angel

The HFF equity placement team representing the developer included managing director Scott Bales along with senior managing director Charles Halladay, managing director Jordan Angel, director Peter Yorck and analysts Eric Bet and Nolan Moore.

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

About Strada Investment Group

Jesse Blout

Headquartered in San Francisco, Strada is a vertically integrated real estate investment company with a proven track record in acquisition, development and advisory services.  

The firm was founded in 2010 by principals Jesse Blout, Michael Cohen and Scott Stafford, with a unique mix of public and private sector real estate experience.

Supported by a team of real estate professionals with expertise in research, acquisitions, asset management, and construction and development, Strada has managed more than $1 billion of real estate assets with top-tier institutional capital partners, and currently has more than two million square feet in the development pipeline.

Michael Cohen

About Stockbridge Capital Group

Stockbridge Capital Group (http://stockbridge.com) is a real estate investment management firm headquartered in San Francisco, California, with offices in New York, Chicago and Atlanta. 

The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States.  As of December 31, 2018, the firm’s total assets under management totaled approximately $13.5 billion.

Scott Stafford

CONTACTS:

SCOTT BALES

CA Lic. #01002027

HFF Managing Director

(415) 276-6300

sbales@hfflp.com

PETER YORCK

CA Lic. #01999279

Peter Yorck

HFF Director                              

(415) 276-6300                                   

pyorck@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com

Blackton Earns Contract to Provide Flooring for D.R. Horton’s New Polk County Community Orchid Grove in Polk County, FL

Micky Blackton

Haines City, FL --- Blackton, Inc., an Orlando-based supplier for the home building industry, was recently awarded a contract from D.R. Horton to provide flooring products worth an estimated $500,000 for Orchid Grove being developed in Polk County.

   Micky Blackton, chief executive officer of the family-owned firm, said the contract with Dallas/Ft. Worth-based D.R. Horton includes all flooring materials for the homebuilder’s 91 single-family homes planned for Orchid Grove located off U.S. Hwy. 27 in Haines City.   

Blackton, Inc., a family owned business headquartered on Alden St. near Ivanhoe Row north of downtown Orlando, has been ranked as one of Central Florida’s largest distributors of materials to homebuilders.  They have been supplying the industry from Jacksonville to Tampa for 65 years.

 Contacts:

Michael “Micky” Blackton, CEO, Blackton, Inc. 

407-898-2661 Micky@Blacktoninc.com

Beth Payan, Larry Vershel Communications 

407-644-4142 Lvershelco@aol.com or beth@larryvershel.com

HFF arranges $360 million in debt and equity for the development of the Four Seasons Hotel and Private Residences Nashville

Mary  Dooley

BOSTON, MA, April 18, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged $360 million in debt and equity financing for the development of the Four Seasons Hotel and Private Residences Nashville, a luxury mixed-use hotel and for-sale residential project in downtown Nashville, Tennessee. 

Robyn King

 Both the hotel and the for-sale residential units will be branded and operated by Four Seasons Hotels and Resorts.

HFF worked on behalf of the developers, The Congress Group, Inc. and AECOM Capital.

Located at 151 First Avenue South, the exclusive mixed-use development will include 232 five-star hotel rooms, luxury for-sale residential units, approximately 10,000 square feet of retail space and a 368-space parking garage.

Riaz A. Cassum

 Residences will feature exquisite interior finishes, floor-to-ceiling windows with views of downtown Nashville, open-concept living areas alongside best-in-class amenities and luxury service that will redefine luxury living and exclusivity in Nashville.  Construction will begin in second quarter 2019.

  The project will overlook the Cumberland River as well as the adjacent Ascend Amphitheatre and is just across the John Seigenthaler pedestrian bridge from Nissan Stadium, home of the Tennessee Titans.

  Additionally, residents and guests will enjoy ease of access to Lower Broadway and Second Avenue, which serve as home to the city’s quintessential live music venues, restaurants and nightlife, including the Nashville Music City Center. 

 The project is also less than a 15-minute drive from four out of the five top employers in Nashville, including Pinnacle Financial Partners and Bridgestone.

Daniel Kaufman

The HFF debt and equity placement team representing the developers consisted of senior managing directors Riaz Cassum and Danny Kaufman, senior associate Robyn King and associates Andrew Gray and Mary Dooley.

“This transaction garnered strong interest from both lenders and equity investors due to the strength of the sponsorship and their vision for a world-class, luxury development on the best site in Nashville,” said Cassum. 

“The arrival of Four Seasons to Nashville speaks volumes to the attractiveness of the city as a destination for both leisure and business as well as one of the most desirable places to live in the country.”

About The Congress Group, Inc.

The Congress Group, Inc. (“Congress”) is a privately-held real estate development, construction, property/asset management and investment company. 

Founded in 1980, Congress has grown to be one of New England’s leading commercial real estate and development firms, with a presence along the Eastern Seaboard. 

Andrew Gray

 Congress has been responsible for the design, development and construction of approximately eight million square feet of office, residential, retail, hotel and structured parking projects. 

 It has made the reuse of complex central city sites a specialty, establishing new, high profile landmarks on underutilized spaces.  

A leader in value-added real estate developments, Congress has many notable projects, including 28 State Street and 33 Arch Street in Boston, Massachusetts.

About AECOM Capital

AECOM Capital is an investor and developer of real estate and other large-scale projects across North America and select international markets.

 Targeting high-quality, risk-adjusted investments, AECOM Capital leverages AECOM’s vast resources across all engineering, design and construction services for deal flow, due diligence, execution and project delivery.

Four Seasons Hotel  and Private Residences, Nashville, TN

 AECOM Capital has a total development value of over $4.5 billion across approximately 11 million square feet. As part of AECOM, a fully integrated global infrastructure firm, we connect knowledge and experience across a global network of experts to help clients solve their most complex challenges.

A Fortune 500 firm, AECOM had revenue of approximately $20.2 billion during fiscal year 2018. See how we deliver what others can only imagine at 

Contacts:

RIAZ CASSUM

HFF Senior Managing Director

(617) 338-0990

rcassum@hfflp.com

DANNY KAUFMAN

HFF Senior Managing Director

(312) 528-3650

dkaufman@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

www.aecomcapital.com.

Louise Folkesson of Illustrated Properties Closes $5 Million Sale in Wellington, FL

Louise Folkesson

WELLINGTON, FL, April 18, 2019 – Illustrated Properties, a member of The Keyes Family of Companies, has completed the $5 million sale of a seven-bedroom home on more than three acres near the site of the Wellington Equestrian Festival. Louise Folkesson of Illustrated was the exclusive listing agent in the transaction.

Located at 2488 Appaloosa Trail, the estate was built in 1994 and has seven bathrooms, 5,239 square feet of living space and 10,515 total square feet. The sale closed on April 1.

2488 Appaloosa Trail, Wellington, FL

Interior features include a gourmet kitchen, media room, gym, Sonos sound system, impact windows and newly upgraded bathrooms. The property also has a pool and center aisle barn with 12 matted stalls, two grooming stalls, two wash racks, a tack room, oversized arena and additional storage space.

The barn also comes with a two-bedroom grooms apartment with a full kitchen and a studio apartment with a kitchenette.

Gyllebo Farm LLC is the seller and RSJ Real Estate LLC is the buyer, according to Palm Beach County records.

For Folkesson, a native of Sweden who studied Equine Science and spent several years in Wellington working in the equestrian industry before venturing into real estate, the sale is the most expensive she has closed for Illustrated. She is based in the firm’s Wellington office.

Mike Pappas

“It was an honor to list this stunning property,” Folkesson said. “My ties to Wellington and equestrian experience were certainly beneficial in marketing the home. Understanding the real estate needs and priorities of equestrians is critical in producing favorable results in this market.”

The sale follows Illustrated’s prestigious recognition as the 2018 Member of the Year by Luxury Portfolio International®, the luxury marketing division of preeminent global network Leading Real Estate Companies of the World®. 

The organization’s Member of the Year award recognizes the brokerage firm that most effectively utilizes the tools and strategies provided by Luxury Portfolio to produce impressive results. Illustrated generated nearly $1 billion in transaction volume in 2018.

“We congratulate Louise on her continued success serving her clients in Wellington,” Illustrated CEO Mike Pappas said. “This is yet another example of Illustrated’s unmatched output throughout the Palm Beach County luxury market.”

Engel & Volkers represented the buyer in the transaction.

In July 2016, Keyes and Illustrated Properties announced the completion of a merger between the two companies, which continue to operate under their existing brands. Overall, Keyes and Illustrated generate more than $6 billion in annual revenue from their real estate service lines.

Keyes and Illustrated control more than 20 percent of the $1 million-plus market in northern Palm Beach County.

CONTACT:

Eric Kalis

Vice President

BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 

JLL completes $19.9 million sale at $338 per-square-foot of Summerlin – Las Vegas office asset

Summerlin Development, Las Vegas, NV

Tivon Moffitt

 LAS VEGAS, NV – On behalf of Moonwater Capital, JLL has completed the $19.9 million sale of a single-tenant office property in the Summerlin masterplanned community in Las Vegas, Nevada.

The Class A office building is leased to an industry leading Fortune 10 company and features recent, comprehensive renovations – a combination that helped to generate interest from more than 100 potential investors.

JLL Senior Vice Presidents Tivon Moffitt and Peter Bauman, and Executive Vice President Bret Davis represented Moonwater Capital in the transaction. The buyer, a private investment entity from California, was represented by Kase Abusharkh of The Kase Group.

“This sale represents an industry-leading cap rate for a single-tenant office project in the Las Vegas market,” said Bauman. “The significant interest achieved by the JLL team drove this sale price to $19.9 million and we are pleased that the property sold for $338 per square foot.”

Peter Bauman

Located at 1451 Center Crossing Road in Las Vegas, the building totals 58,950 square feet and is fully leased by a Fortune 10 company. 

It sits within the Summerlin masterplanned community, surrounded by a desirable residential, retail, office and employment demographic, and with an attractive geographical position along Summerlin Parkway, minutes from the Interstate 215 Beltway and US 95.

“Investors across the United States and globally understand the strength and diversity of the Las Vegas economy, especially Summerlin,” said Moffitt. “They want to invest in Las Vegas and there is diverse capital seeking to make long-term real estate investments in this market.”

The property seller, TSSP – Moonwater Capital, acquired the building in 2018 as part of a seven-building office portfolio. 

Bret Davis

“Moonwater recognized the significant value of this building’s long-term lease to a credit tenant,” said Davis. “That was a driving force in the aggressive offers the JLL team received from a diverse group of buyers, including direct foreign capital investors.”

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

 Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. 

In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018.

Kase Abusharkh 

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. Jones Lang LaSalle Brokerage Inc. is JLL’s legal brokerage entity in Nevada. For more news, videos and research resources on JLL, please visit www.jll.com.

About Moonwater Capital

Founded in 1997 by Ofir Hagay, Moonwater Capital is a Las Vegas-based boutique real estate investment firm. 

Moonwater Capital specializes in value-add investments, particularly real estate properties in the greater Las Vegas metropolitan area.

 Through years of company-wide success, Moonwater Capital creatively applies its international experience to the Las Vegas marketplace where it stands as the leader in the commercial office market.

Ofir Hagay

The company leverages its deep knowledge, relationships and global experience to identify, secure and profit from strategic real estate projects; real estate projects that also impact the city of Las Vegas by way of job creation and community development.

Contact:

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com