Wednesday, January 15, 2020

Greg Brown named to co-lead JLL Capital Markets in Orange County, CA


Greg Brown 

NEWPORT BEACH, CA – JLL announced Senior Managing Director Greg Brown has been appointed to co-head JLL Capital Markets in its Orange County office. 

 Mr. Brown will lead the Orange County debt and equity placement business alongside Senior Managing Director Sean Deasy, who will continue to oversee the investment advisory platform.

Sean Deasy

Executive Managing Director Kevin MacKenzie, previously co-head of the Orange County Capital Markets practice, has stepped out of the day-to-day office head responsibility to focus on his current role on the JLL Capital Markets Executive Committee, including his leadership responsibilities for the west coast offices, and active client engagements across the Country.

Kevin MacKenzie

Mr. Brown joined JLL as part of the HFF acquisition and has more than 14 years of experience in the commercial real estate industry.  He has been involved in more than $4 billion in multifamily, retail, office, industrial, and hospitality transactions during his tenure with HFF.  

“We are excited to promote another leader within our firm, and Greg embodies the qualities we look for as a servant leader and top-of-class capital markets expert,” MacKenzie noted.  

“This is consistent with our firm’s philosophy of developing the best leaders, proven over time and repetition, then providing them opportunities to elevate their career while furthering the firm’s growth. We continue to focus on our player-coach model, putting the client’s interest first, and utilizing the best team on the field approach in all circumstances.”



Contact:

 Kristen Murphy, 
JLL Senior Manager, 
Public Relations
Phone: +1 617 848 1572



JLL closes sale of suburban Chicago retail center


Amy Sands 
CHICAGO, IL – JLL Capital Markets announced it has closed the sale of Westlake Plaza, a 42,018-square-foot, internet-resistant neighborhood shopping center in Chicago’s affluent Northshore community of Wilmette, Illinois.

JLL represented the seller, Chicago-based Newport Capital Partners. A private real estate fund advised by Crow Holdings Capital purchased the asset.

Westlake Plaza is one of only three neighborhood centers within the market, and no new retail space east of Interstate 94 has been delivered to the market over the last 40 years. 

The center is 83% leased to a variety of internet-resistant tenants, including Supercuts, Subway, Dunkin’ Donuts, Westlake Chiropractic HealthCare Center, Finest Fit Cleaners, Ivy Cleaners, Mei Lin House and Professional Eye Care. 


Clinton Mitchell

Situated on 2.5 acres at 3207 Lake Avenue, Westlake Plaza is on Chicago’s North Shore and surrounded by some of the most prestigious and affluent suburbs in the country. More than 110,000 residents earning an average annual household income of $182,250 live within a three-mile radius of the center.

The JLL Capital Markets team that represented the seller was led by Managing Directors Amy Sands and Clinton Mitchell.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas (IL) LP.

Contact: 

Kimberly Steele
JLL Senior Associate, Public Relations
Phone: +1 713 852 3420




Regency Centers Named to Newsweek's America's Most Responsible Companies 2020 List


Lisa Palmer
JACKSONVILLE, Fl (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ:REG), the preeminent national owner, operator, and developer of shopping centers, announced today that it has been included in Newsweek's inaugural America's Most Responsible Companies 2020 list.
“It’s an honor to be recognized as a leader in such an important area,” said Lisa Palmer, President and CEO of Regency Centers. “This is an incredible gathering of companies who care, and a powerful validation of being considerate corporate citizens. 

"It’s critically important that every day we remain committed to living our values and always striving to do the right thing. We’d like to thank Newsweek for keeping a spotlight on the efforts of so many.”
Over 2,000 public companies were analyzed by Newsweek and data research firm Statista, in order to focus down on the top 300 companies in the nation that operate as good neighbors and citizens. 
This analysis was carried out in a four-phase process, consisting of an independent survey of 6,500 U.S. citizens. Key performance indicators were researched based on publicly available information from Corporate Annual Reports, CSR Reports, Sustainability Reports, and Corporate Citizenship Reports.
CONTACTS:
Laura Clark
Senior Vice President, Capital Markets
904-598-7831
LauraClark@RegencyCenters.com
Eric Davidson
Senior Manager, Communications
904-598-7829
EricDavidson@RegencyCenters.com
Source: Regency Centers Corporation

Monday, January 13, 2020

JLL arranges $46 million sale of 77,678-SF Creative Office and Retail Building at 15 Broad Street in Boston, MA


15 Broad Street, an irreplaceable asset comprising 77,678 SF
of creative office and street level retail space in Boston, MA

 Clarence H. Blackall
BOSTON, MA – JLL Capital Markets announced it has arranged the $46.1 million sale of 15 Broad Street, an irreplaceable asset comprising 77,678 square feet of creative office and street level retail space in Boston, Massachusetts.

JLL exclusively represented the seller and procured the buyer, TA Realty. 

Originally commissioned as the Marshall Building, 15 Broad Street was designed by Clarence H. Blackall, one of Boston’s great architects, and completed in 1910. 

The asset features a unique exterior facade, clad with limestone up to the third floor.  The crown of the asset features a limestone cornice with copper fascia including ornamental lion heads aligned with the double hung windows.

Lauren O’Neil
15 Broad Street sits alongside Fairlane Park, which is one of the hidden treasures of downtown Boston and is just steps from Post Office Square, Rowes Wharf and Faneuil Hall. 

Coleman Benedict
 Additionally, the property is equidistant from both North Station and South Station making this asset the commuter’s dream. 

Broad Street has emerged as Downtown’s main “boulevard” with recently rebuilt sidewalks, the installation of outdoor furniture and numerous dining, retail and entertainment destinations. 

JLL’s Capital Markets team representing the seller was led by Coleman Benedict, Lauren O’Neil, Matthew Sherry, Kerry Hawkins and Ben Sayles. 

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


Matthew Sherry
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Kerry Hawkins
About JLL:

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

Ben Sayles
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 more than 93,000 as of September 30, 2019.

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit jll.com  






Contact: 

Kristen Murphy
 JLL Senior Manager
Public Relations
Phone: +1 617 848 1572
Email: Kristen.Murphy@am.jll.com


JLL arranges $45 million financing for Class A office tower in Orlando, FL


111 North Orange, a 245,000-SF, Class A office tower in Orlando, FL

MIAMI, FL– JLL Capital Markets announced today that it has arranged $45.1 million in financing for 111 North Orange, a 245,000-square-foot, Class A office tower in Orlando, Florida.

JLL worked on behalf of the borrower, a joint venture between Black Salmon Capital and Tower Realty Partners, to secure the loan through City National Bank, Florida’s third-largest bank with more than $15 billion in assets.

 Maxx Carney 
111 North Orange is prominently located along North Orange Avenue, the primary office corridor in Orlando’s central business district. 

The property has a robust amenity package within walking distance including, the Dr. Phillips Performing Arts Center, the Grand Bohemian hotel, Amway Center and numerous dining and retail options.  

The 21-story property is 92.7% leased to a diversified rent roll comprising companies in the financial services, construction, legal and insurance industries. 

On-site amenities include a full-service Nature’s Table café, fitness center with showers, full-service banking, car wash and detailing service and state-of-the-art shared conference center. 

Matthew McCormack
The JLL Capital Markets team representing the borrower was led by Directors Maxx Carney and Matthew McCormack, Associate Michael DiCosimo and Analyst Alec Carreras.

“111 N Orange is a well-positioned asset in the submarket and highly desirable to tenants due to the on-site and immediately surrounding amenities,” McCormack said. 

“With a strong operating history and solid tenant roster, 111 is an ideal investment to take advantage of the increasingly strong Orlando CBD office market.”

“Orlando continues to generate significant investor and lender interest due to solid fundamentals in the local economy, being one of the hottest job markets in the country with tremendous population growth,” Carney added. “Office assets in Orlando continue to demand premium financing terms and pricing.”

Michael DiCosimo 
 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 advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Alec Carreras


For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.


Black Salmon Capital LLC is a global asset manager which provides opportunities for institutions and investors to participate directly in commercial real estate investments in major markets across the United States.






Contact: 

Kristen Murphy
 JLL Senior Manager, Public Relations 
Phone: +1 617 848 1572
Email: Kristen.Murphy@am.jll.com


Avanath Adds Keith Harris as Executive Vice President of Acquisitions and Opens Offices in Chicago, IL and Alexandria, LA



Keith Harris
IRVINE, CA (Jan. 13, 2020)— Avanath Capital Management, LLC, a private real estate investment manager and Registered Investment Adviser, has added Keith Harris as the firm’s new executive vice president of acquisitions.
 The firm has also opened two new office locations in Chicago, IL and Alexandria, VA.
 According to John Williams, Avanath’s president and CIO, this expansion is in line with the company’s trajectory as it comes on the heels of Avanath surpassing $2 billion in AUM.
 “We have rapidly been expanding our presence throughout the U.S.,” says Williams. “The addition of Keith Harris and our new regional offices will aid in bolstering this growth.”

John R. Williams
As executive vice president, Harris is responsible for overseeing the firm’s acquisitions across the U.S. This includes all aspects of the acquisitions process including identifying and sourcing deals, due diligence, underwriting, and financing.
 “Harris is a seasoned veteran with more than 30 years of industry expertise,” adds Williams. “He is the perfect addition to guide our acquisition strategy in 2020 as we continue to increase our portfolio of affordable and workforce housing assets.”
 
Daryl J. Carter
Harris is the Chairman of the Multi-Family Green Housing Council of the Urban Land Institute (ULI), and an active member of the National Multi-Family Housing Council (NMHC).
Avanath currently owns 79 assets across 12 states and 41 different cities.
Founded by Daryl J. Carter, the Avanath management team averages 25 years of experience and has successfully guided investment funds in defining growth opportunities and delivering past returns that have performed on par with or surpassed the relative benchmark(s).

Contact:

Lexi Astfalk
(949) 438-6262



JLL arranges $6 million loan for 80 Terrace Street in Boston, MA


Martha Nay

BOSTON, MA – JLL Capital Markets announced it has arranged a $6 million construction loan for the development of 80 Terrace Street, a nine-unit, boutique, for-sale condominium building in the Mission Hill neighborhood of Boston.

JLL worked on behalf of the developer, Primary Development, to secure the floating-rate construction loan through Centreville Bank.

Michael Johnson

80 Terrace Street will feature 21,000 gross square feet, including nine two-bedroom/two-bathroom for-sale condominium units, one commercial unit and nine parking spaces. 

The Mission Hill area is a rapidly developing area of the Boston Metro catering to high-earning professionals located within walking distance to the Longwood Medical area and an 18-minute commute into downtown Boston.

Craig Schermerhorn 

 The project, which is due for completion in the first quarter of 2021, will feature distinctive architecture with plentiful windows and energy-saving finishes. 

The property will include a secured parking garage with all spaces equipped with electric car charging ports. Units will feature 10-foot ceilings throughout, high-quality casement windows, premium appliances and finishes, elevator access and a shared roof deck with a green roof. 

 80 Terrace Street rendering, Boston, MA
The commercial component can be divided into six office studios connected to a common kitchenette area.

The JLL Capital Markets team representing the borrower was led by Directors Martha Nay and Michael Johnson. Vice President of Commercial Lending Craig Schermerhorn represented Centreville Bank.

Contact: 

Olivia Hennessey
JLL Senior Associate, Public Relations  
Phone: +1 713 852 3403


centrevillebank.com or call 401.821.9100.


Value-add retail center near Chicago sold


Broadview Village Square in Broadview, IL is home to national tenants, including Ross Dress for Less, Subway, Marshalls, PetSmart, GNC and Sally Beauty

CHICAGO, IL – JLL Capital Markets announced it has closed the sale of Broadview Village Square, a 193,536-square-foot, value-add retail center in the Chicago-area community of Broadview, Illinois.

JLL represented the sellerBridge33 Capital LLC purchased the asset.

Amy Sands 

Broadview Village Square is home to a tenancy mostly comprising national tenants, including Ross Dress for Less, Subway, Marshalls, PetSmart, GNC and Sally Beauty.

 Additionally, the retail center is shadow anchored by LA Fitness, Ashley Furniture HomeStore, Super Target and The Home Depot.

 
Janice Sellis

Situated on 15.91 acres at 700 Broadview Village Square, Broadview Village Square is two miles from the 61-acre Loyola University Medical Center and Health Sciences Campus, which provides a built-in consumer base. It is also within the affluent Broadview suburb, which is 12 miles west of Chicago’s CBD. 

The property is surrounded by an affluent population that includes 162,178 households with an average annual household income of more than $100,000 and a buying power of $16.8 billion living within a five-mile radius.

Clinton Mitchell

The JLL Capital Markets team that represented the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Executive Vice President Janice Sellis

CONTACT:

Kimberly Steele
Senior Associate, Public Relations
JLL Capital Markets
9 Greenway Plaza, Suite 700
Houston, TX  77046
T +1 713 852 3420
M +1 832 244 9994