Tuesday, February 11, 2020

Jaime Sturgis and Amanda Roy of Native Realty Selected to List JB’s on the Beach Site in Deerfield Beach, FL


JB’s on the Beach, a Deerfield Beach, FL restaurant landmark at 300 Northeast 21 Avenue, is up for sale at $18 million 

FORT LAUDERDALE, FL –– Native Realty, the pioneering Fort Lauderdale-based real estate firm led by Founder and CEO Jaime Sturgis, has obtained a significant investment sales listing in Deerfield Beach.

 Sturgis and the firm’s Amanda Roy are exclusively marketing the site of popular restaurant JB’s on the Beach for $18 million.

Amanda Roy
 Located at 300 NE 21 Ave., JB’s has been a staple in Deerfield Beach for nearly two decades. The available site includes the oceanfront restaurant property and a nearly one-acre parking lot across the street from the restaurant.

 The restaurant operation itself, which is owned by New York-based Ark Restaurants (Nasdaq: ARKR), is not part of the sale offering. Boyle Beach House LLC owns the restaurant site.

Jaime Sturgis

 “The property represents a rare opportunity to own a triple net leased (NNN) investment with future redevelopment potential.” Sturgis said.

“Being one of only a handful of oceanfront sites, which rarely come available, and one of the only restaurants to have dedicated private parking, makes this a truly unique legacy asset.”

CONTACT:

Eric Kalis
Vice President, 
BoardroomPR
O 954-370-8999 
C 305-794-5123



Monday, February 10, 2020

JLL completes sale and financing of 2900 Weslayan in Houston, TX


2900 Weslayan, boutique office building, Houston, TX


HOUSTON, TX – JLL Capital Markets and Griffin Partners Inc. announce today that they have closed the sale of 2900 Weslayan, a six-story, Class A boutique office building totaling 136,698 square feet in Houston, Texas.

 Katherine Miller

JLL marketed the property on behalf of the seller, Madison Marquette. Houston-based Griffin Partners purchased the asset and will self-manage the building. Additionally, JLL worked on behalf of Griffin to secure the three-year, floating-rate acquisition loan through Frost Bank.


Janie Snider 

2900 Weslayan is located on a 2.8-acre site at the highly desirable corner of Weslayan and West Alabama in Houston’s Greenway Plaza submarket. 
Andrew Montgomery

The property offers a true live-work-play location, surrounded by some of Houston’s wealthiest neighborhoods, including River Oaks and West University, as well as destination retail amenities, including H-E-B Central Market, Highland Village, Greenway Commons and River Oak District. 

Recently renovated, the 81.9%-leased boutique office building also features retail tenants, Baggy’s Grill, Apteek Pharmacy and Results Physiotherapy.

Griffin Partners purchased the building via their latest investment vehicle, Griffin Partners Office Fund III (Fund III). 


 H. Dan Miller 
This purchase was their fourteenth (14th) investment in Fund III; a portfolio now totaling almost 2.5 million square feet valued at almost $370 million with office, industrial and mixed-use assets within six high growth markets across the U.S.

Per Griffin Partners Investment Management President, Andrew Montgomery, “This purchase will be one of our last investments in Fund III and we have been pleased with our on-going performance of this portfolio of assets. 

"We are excited to be in the process of raising our newest vehicle, Griffin Partners Office Fund IV.


 Wally Reid
"2900 Weslayan is an excellent location in our view and represents key attributes in finding sustainable value creation in the urban core of Houston.” 

The JLL Capital Markets team representing the seller was led by Senior Managing Director H. Dan Miller and Analyst Katherine Miller.

JLL’s Capital Markets team representing the borrower was led by Senior Managing Director Wally Reid, Managing Director Cameron Cureton and Director John Ream. 

Cameron Cureton
Griffin Partners Executive Vice Presidents Janie Snider and Lee Moreland will direct building operations, asset and property management services for the property. 

Griffin Partners has retained Madison Marquette to lease the property, represented by Wade Bowlin and Angelina Stone

“We are proud to represent Griffin Partners as the new owner of 2900 Weslayan," said  Bowlin, President, Property Services, Central.

 The property is a high-quality asset located in an amenity-rich environment, and we look forward to working with ownership for continued leasing success.” 


John Ream
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.

Lee Moreland 
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, Inc., a licensed real estate broker.
  



Contacts:

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

Rebecca L Silva, 
Griffin Partners, 
Investor Relations & Marketing
Phone: 713-439-5342



Sunday, February 9, 2020

Dream Finders Homes Starts Construction of Flagler Point Townhomes in Jacksonville , FL


Brad Muston 
JACKSONVILLE, FL – Dream Finders Homes has started construction of Flagler Point Townhomes, its newest luxury townhome community located off Flagler Center Blvd. and Old St. Augustine Road in Jacksonville .
Division President Brad Muston said 65 homesites are available at Flagler Point where homebuyers can choose from three flexible floorplans ranging from 1,245 to 1,572 square feet of living area.  
Two-story townhomes with two and three bedrooms, two-and-one-half baths and a one-car garage are priced from the low $200s.
Three models that are underway at the community will be open and ready – two decorated and one unfurnished ‒ for touring in the Fall, Muston said.

Baptist South Medical Center, Jacksonville, FL
“Flagler Point’s location offers connected living at its best with a blend of privacy and convenience.  Townhome sites on cul-de-sacs, bordered by conservation areas and several with water views are available,” Muston said.    
The community is in the Duval County School District and just minutes from Baptist South Medical Center .  Recreation, shopping and dining at St. Johns Town Center and the Avenues Mall are also nearby.  All are conveniently accessed via I-295 and I-95.
For more information, please visit https://www.dreamfindershomes.com/flagler-point-coming-soon/ or call 888-214-1164. 
CONTACTS:

 Brad Muston, Division President, Dream Finders Homes,

 Jassy Friddle, Director of Marketing, Dream Finders Homes,

 Beth Payan, Larry Vershel Communications
407-644-4142 or 407-461-3781; beth@larryvershel.com

Developer Predicts All Micro-Lofts in the $32 Million Mixed Use Tower Vive on Eola in Orlando, FL will be Pre-Leased Before Completion



James Dicks

ORLANDO, FL – DIX Developments LLC is preparing for a mid-February closing on a prime downtown Orlando site that will be redeveloped into a 12-story mixed-use tower featuring the city’s first micro-lofts designed for young professional singles.   

 James Dicks, CEO of the Lake Mary-based company, said the $32 Million project, called Vive on Eola, has been enthusiastically received in preliminary talks with Orlando officials. Early strong investors have lined up to back the development. 

 “Everybody likes the concept of the micro lofts,” Dicks said, “in part because it helps address a rising affordability crisis in the urban core.”

Plans call for about 120 units averaging 400 square feet, similar to a studio apartment, packed with amenities and monthly rental rates starting at $1,250, hundreds of dollars less than the average for downtown residential space.  

The tower will have a ground level signature restaurant, coffee shop, three floors of parking and, potentially, as much as 13,500 square feet of “we work” style office space.

Rendering of $32 Million Vive on Eola apartments planned at the corner of South Eola Drive and Church Street in Downtown Orlando, FL
Dicks, a seventh generation Floridian, said extensive due diligence tells him that the timing is right for smaller units in popular but pricy downtown cores and his company is considering similar projects for Tampa, St. Petersburg and other cities in the Southeast where affordability is nearing crisis levels.

The Orlando property is at the corner of South Eola Drive and Church Street other short term leasing while the company awaits a demolition permit and other governmental approvals.

Once the existing building is taken down construction of the 12-story Vive on Eola is expected to take about 8 to 12 months, with a potential early 2022 completion date.

 “I believe we will be pre-leased,” Dicks said, because his company is already fielding calls from people “asking to get on a list.”  in the historic Thornton Park neighborhood. The site currently has a 9,000 square foot office building which is being converted into a shared office concept.

CONTACTS:

Scott Prewitt,
Executive Vice President of Business Development,
 DIX Developments, LLC,
407-542-6120 or scott@dixdevelopments.com

James Dicks, CEO,
 DIX Developments LLC,
407-542-6120 james@dixdevelopments.com 

Beth Payan, Larry Vershel Communications, Inc.
407-644-4142 or 407-461-3781; beth@larryvershel.com 

Saturday, February 8, 2020

NAIOP South Florida Kicks off 2020 Programming with Economic Outlook


Darcie Lunsford

FORT LAUDERDALE, FL– NAIOP South Florida, the Commercial Real Estate Development Association, kicked off 2020 with its annual Economic Outlook. 

Jay M. Caplin
Hosted by Berger Commercial Realty at the new 550 Building and moderated by Butters Realty & Management Executive Vice President Darcie Lunsford, Economic Outlook presented insights and predictions for 2020 from an esteemed panel of experts.

Panelists included: Square2 Capital Principal Jay M. Caplin; Link Industrial Properties Managing Director of Southeast Investments Clifton H. Coffey; Stiles Chief Investment Office and Board Director Rocco Ferrera; Duke Realty Vice President of Leasing and Development and NAIOP South Florida Board of Directors President Stephanie Rodriguez; and Wells Fargo Senior Economist and Managing Director Mark Vitner.

Clifton H. Coffey

“There are two major areas that we should consider going into 2020,” Vitner said. “The first is the emergence of data as a currency – any purchase made online is not only an exchange of funds, but it is also an exchange of information that can be just as valuable as the financial transaction. 

"The second is the worsening imbalance between housing costs and income for most Americans. Increased cost of construction and the shortage of housing inventory has caused property values to skyrocket. 

Stephanie Rodriguez
"Lack of affordable housing options affects workers, which in turn affects businesses and the greater economy.”

Panelists also gave their takes on topics ranging from GDP, the state of the real estate cycle, the economic impact of the presidential election, commercial real estate trends in 2020, the impact of trade wars and tariffs, negative interest rates and more.

For upcoming NAIOP South Florida events, visit www.naiopsfl.org.

About NAIOP South Florida

NAIOP South Florida is the largest chapter of NAIOP in the state. 

With more than 350 members representing constituents in Miami-Dade, Broward, Palm Beach, Martin and St. Lucie counties, the chapter is the leading commercial real estate development organization in the region.

Mark Vitner
 NAIOP supports commercial real estate professionals with advocacy, education and business opportunities and connects its members through a powerful North American network.

About NAIOP

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. 

NAIOP comprises 20,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy.

Rocco Ferrera



 CONTACT:

Samantha Van Nuys

O: 954.776.1999  ext. 115 |C: 954.648.9132
6451 North Federal Highway, Suite 1200 
Fort Lauderdale, Florida 33308

Celebrities' Home in Calabassas, CA on Market for $6.6 Million


Calabassas, CA Home at 5150 GARRETT Court Attracts Top Hollywood Names
Photo credit: Douglas Elliman         Source: www.elliman.com

CALABASSAS. CA --Since the early days of Hollywood, celebrities have been buying each other’s houses, either as a moving-up status symbol or to be assured of being in the right celebrity neighborhood equal to their peers.

Khloe Kardashian 
As neighborhoods close to the studios became heavily populated, Calabasas and Hidden Hills in the western end of the San Fernando Valley became more exclusive with their protected gated communities and homes that provided more breathing space.


Selena Gomez 
At least five of the Jenner-Kardashian clan live in the Calabasas area and the large celebrity group of residents often sell to other celebrities such as Justin Bieber to Khloe Kardashian and Selena Gomez to rapper French Montana - who also dated Khloe Kardashian who lives nearby.

 Justin Bieber 
Calabasas celebrity lives intertwine as do the houses they also seem to share between them. Gomez sold to Montana in 2016 after living there for three years and three years later Montana is hoping to pass it on to the next buyer and has put it on the market priced at $6.6 million.
Understandable how a young single person could feel somewhat overwhelmed after rambling around in a 7,786-square-foot mansion with five bedrooms and six baths on 3.10 acres of land.


French Montana
Located in the gated Mureau Estates community and built in 2004 of stucco and stone, Montana’s home was designed with entertaining in mind.
Palatial with its five fireplaces, large rooms, tile floors and chef’s kitchen outfitted to handle large parties and with a large pantry, it caters to those who crave creature comforts and entertain routinely.
 Included are a formal living room, dining room with floor-to-ceiling windows, private family rooms, full bar, gym and movie theater.
Glass doors open to a stunning backyard with pool, spa, cabana, Viking outdoor kitchen and a brick pizza oven. Montana turned the former guest house into a $400,000 eclectic recording studio that is guarded by a large elephant topiary.
 There is also an outdoor courtyard, four-car garage and parking for more than ten cars.
The home was purchased by Selena about the same time she was ending her starring role in the Disney Channel’s Wizards of Waverly Place and taking a temporary break from her music career to pursue more acting roles.

 She sold the house in 2016 to Moraccan-American rapper Karim Kharbouch, better known by his stage name, French Montana.

 Gabriel Palmrot 

A year after moving in, Karim released his second studio album, Jungle Rules, which landed at number three on the Billboard 200.

 Its single, Unforgettable, was his first song as lead artist to reach the top 10 on the U.S. Billboard Hot 100.

This Calabasas celebrity mansion might exude a special fairy dust that, within three years, propels its young owners towards the pinnacle of their future success, such as it seems to have done for Selena Gomez and now French Montana.
The listing agent is Gabriel Palmrot of Douglas Elliman, Beverly Hills.

CONTACT:
                                                                                               

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat