JLL closes sale of 470 Kent Ave. development site for Abraham Rosenberg; Naftali Group acquires property on Williamsburg waterfront in Brooklyn, NY

Proposed development site at 470 Kent Avenue on the Williamsburg waterfront in Brooklyn, NY 

NEW YORK, NY, May 29, 2020 — JLL Capital Markets announced today that it has closed on the sale of a development site at 470 Kent Ave. on the Williamsburg waterfront in Brooklyn, N.Y., for Abraham Rosenberg.

Brendan Maddigan

Naftali Group LLC, a leading privately held, global real estate development and investment firm run by CEO and Chairman Miki Naftali, acquired the property.

The development opportunity at 470 Kent Ave. comprises a 94,500-square-foot lot between Division Avenue and South 11th Street on the waterfront overlooking the East River.

Certified Lumber occupies an existing building on the site and will announce a relocation to a nearby address as soon as appropriate. The lumber storage building will be demolished after a lease-back period.

Stephen Palmese

The property is located in a Qualified Opportunity Zone and has a versatile R7-3/C2-4 zoning designation that permits a wide array of uses and is perfect for a one-of-a-kind luxury residential or mixed-use complex.

The land at 470 Kent Ave. is on the edge of the thriving Brooklyn Navy Yard and is situated among several iconic waterfront developments like The Oosten, Eliot Spitzer’s Four Twenty Kent trio of towers, and the $1.5-billion Domino Refinery mega-development.

The property abuts the East River Ferry terminal and the Marcy Avenue J M Z train station, providing direct connections to DUMBO and Manhattan, both one stop away.

Ethan Stanton

Furthermore, the assemblage sits along the proposed path of the anticipated Brooklyn Queens Connector (BQX), adding to the attractiveness of the offering.

The JLL Capital Markets team representing the seller includes Vice Chairmen Brendan Maddigan and Stephen Palmese and Managing Directors Ethan Stanton, Winfield Clifford and Michael Mazzara, along with Senior Managing Director Robert Burton with Cushman & Wakefield Inc.

“This transaction speaks volumes to the resilience of New York City and the developer’s confidence to build a large-scale, Opportunity Zone project in an excellent, waterfront Williamsburg location,” Maddigan said.

Winfield Clifford 

“It’s been a pleasure working with the professionals at Naftali Group and seeing their commitment to the progress of this site.”

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.

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

Michael Mazzara

About JLL

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

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020.

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.


Contacts: 

George Shea, Mark Faris
Company: Shea Communications
Phone: +1 212 627 5766
Email: mfaris@sheacommunications.com

Ki     Kimberly Steele 

ki      Kimberly.steele@am.jll.com

jll.com.

Arizona-Grown Headwear Company Branded Bills Expands in Phoenix AZ to Broadway 101Commerce Park

 

 Keith Lammersen 

MESA, AZ – The Phoenix office of JLL has completed a lease that relocates and expands custom headwear and apparel company Branded Bills to the Broadway 101 Commerce Park in Mesa, Arizona.

The Arizona-grown company has expanded five times in five years, evolving it from its original operations out of a local garage into its new 13,102-square-foot headquarters at 2340 W. Broadway Rd., less than one mile from the Loop 101 Freeway in Mesa, Arizona.

JLL Managing Director Keith Lammersen represented Branded Bills in the lease transaction.

“Branded Bills was started in Arizona by a group of friends who place community connection among their highest priorities,” said Lammersen. 

Dave Dickert.

“The new space at Broadway 101 gives them the operational efficiencies and professional environment they need to continue to grow the company and its vision.”

“Our products are designed to reflect a customer’s unique story – whether it’s where they are from or the interests and passions that are most important to them,” said Branded Bills Co-Founder Dave Dickert. “That experience-centric mindset has never failed us. It has only opened new doors"

He established the company with partners Sam Coil, Josh Tabaj and Tim Welch.

Sam Coil

Underscoring that commitment, the company in March launched a “Give-A-Hat” campaign, in which Branded Bills matches every customer hat purchase with a free hat that they deliver to a front-lines medical professional caring for COVID-19 patients.

“It’s just one thing we can do to spread positivity and encouragement to our medical heroes during this uncertain time,” said Dickert.

Branded Bills started its operations in an Arizona garage in 2015. It later moved to a location in Tempe, expanding there multiple times before making a larger move to Broadway 101.

Today, Branded Bills employs 40 and produces a range of hat and apparel products. All feature a hand-forged leather patch and span collections for all 50 states, custom options and a hat-of-the-month club.

For more about Branded Bills, please visit www.BrandedBills.com.

Contact: 

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

Studio Other Introduces Privacy Panels To Help Organizations Quickly Adapt Existing Workstations During and After COVID Pandemic

Charlotte Wiederholt

SANTA FE SPRINGS, CA, May 29, 2020 – Studio Other (formerly Tangram Studio), a creator of custom solutions for commercial interior environments and workspaces, has introduced a new family of attachable privacy panels designed to offer a high level of flexibility for existing workstations.

Quick and easy adaptability, while protecting employee health, will be a key factor as organizations reopen their facilities, most likely in a phased approach. Furnishings for interior spaces must accommodate dynamic shifts in space layouts and capacity over time for efficiency as well as cost savings.

“Many organizations are already anticipating how we will return to work and the adjustments that will need to be made along that road to ensure employee safety,” noted Charlotte Wiederholt, President and Creative Director of Studio Other.

 “Because making drastic changes to a current work environment can be costly and time consuming, we have developed these easily attachable privacy screens as an innovative way to facilitate changes in configurations.”

CONTACTS:

Rachel Devany

VP Public Relations

 KCOMM for Studio Other

Rachel@kcomm.com 

949-443-9300

www.studioother.com

JLL closes sale of Dallas, TX Class A industrial park

Stephen Bailey

DALLAS, TX – JLL Capital Markets announced it has closed the sale of Valwood Crossroads, a brand new, Class A, state-of-the-art, fully leased, two-building industrial park totaling 618,052 square feet in the Dallas-Fort Worth community of Carrollton, Texas.

JLL marketed the property on behalf of the seller, Core5 Industrial Partners, which developed the property in 2019. Denver-based Black Creek Group purchased the asset.

Valwood Crossroads features both cross-dock and rear-load buildings, clear heights ranging from 32 to 36 feet, 138 dock-high doors, six drive-in doors, deep truck courts, ESFR sprinkler systems and low office finish.

 Both buildings are fully leased to Smith System Manufacturing Company, a Texas-based furniture manufacturer that serves the K-12 school furniture market across the country. 

Situated on 34.26 acres at 1050 and 1150 Luna Rd., Valwood Crossroads is positioned at the northeast intersection of Belt Line Road and President George Bush Turnpike, which is a coveted last-mile location within the Valwood Industrial submarket, one of the tightest industrial submarkets in the DFW region.

 Dustin Volz

The JLL Capital Markets team representing the developer was led by Director Stephen Bailey and Managing Director Dustin Volz.

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.

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

CONTACT:

Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.

c5ip.com

blackcreekgroup.com.

Regency Centers to Present at Nareit’s REITweek: 2020 Virtual Investor Conference June 3 in Jacksonville, FL

 

Lisa Palmer

JACKSONVILLE, FL, May 29, 2020 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ:REG) today announced that Lisa Palmer, President and Chief Executive Officer, is scheduled to make a presentation at Nareit’s REITweek: 2020 Virtual Investor Conference on Wednesday, June 3, 2020, at 9:35 am ET.

 To access the Company’s live presentation, attendees are required to register for Nareit’s REITweek, using the registration link below. Registration is complimentary until Tuesday, June 2, 2020.

A link to the webcast will be available for replay for 90 days on the Investor Relations page of the Company’s website at investors.regencycenters.com.

About Regency Centers Corporation (NASDAQ: REG)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 

Laura Clark

Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. 

Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.

CONTACT:

Laura Clark
904 598 7831
LauraClark@RegencyCenters.com

JLL arranges sale of Boston industrial portfolio

Benjamin Roopenian

BOSTON, MA – JLL announced it has closed the sale of a fully leased, four-property multi-tenant industrial portfolio totaling approximately 286,000 square feet along with a one-acre land parcel in the Boston-area community of North Reading, Massachusetts.

JLL procured the buyer, an institutional investor, in an off-market transaction.

The portfolio comprises industrial facilities at 23, 29, 35-37 and 45 Concord St. and an adjacent land parcel. The properties are located in the coveted 128 North Industrial submarket, which provides ease of access to Boston and other geographies via routes 128 and 93.

Michael Restivo 

 The Industrial Brokerage and Capital Markets teams leading the transaction included Vice President Benjamin Roopenian and Director Michael Restivo along with Senior Vice President Matt Sherry.

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.

Matthew (Matt) Sherry.

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

Contact:

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

Email:  Kimberly.Steele@am.jll.com

jll.com.

Arbor Funds $10.4 Million Fannie Mae DUS® Loan in Cedar Falls, IA

 Joseph Charneski 

UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Streamlined Rate Lock loan in Cedar Falls, IA. The 180-unit property received $10.4M in financing.

 Joseph Charneski of Arbor’s New York City office originated the deal.

 Thunder Ridge Apartments, Cedar Falls, IA

“This was a great transaction,” Charneski said. “We were able to close this refinance loan with full-term interest only payments and a historically low interest rate during these unprecedented times.” 

 Built in 1975, Thunder Ridge is made up of one- and two-bedroom apartments. The pet-friendly complex features a basketball court, putting green, tranquility pond and 24-hour fitness center.

 It is conveniently located within walking distance of retail stores and restaurants.  

Contact:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Marcus & Millichap Promotes Miami, FL Agent Debra Franklin to First Vice President Investments

  Debra Franklin 

Miami, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced  Debra Franklin of the company’s Miami office has been promoted to First Vice President Investments, according to Scott Lunine, Regional Manager. 

Previously, Franklin held the position of Vice President Investments. 

“Franklin has been an extremely successful investment real estate broker, and she is a born leader in our office,” says Lunine.

Franklin is an investment sales professional, specializing in net leased assets throughout the U.S. with a unique focus in the quick service restaurant space and a passion for the franchise community. 

Scott Lunine

“Six years ago I was uncertain what this second career in brokerage could become," says Franklin. "I quickly discovered that commitment, discipline, patience, adaptability and finding like-minded partners, you can begin again and sometimes even change the game.

 "I am thankful to Marcus & Millichap for giving this long-term corporate employee an opportunity.”

CONTACT:

Daniella Aragon  

Daniella.Aragon@marcusmillichap.com

District 114 project breaks ground in Southlake, TX

District 114, a four-story, mixed-use office building with ground floor retail totaling 94,990 square feet in Southlake, Tx

DALLAS, May 28, 2020 – JLL Capital Markets announced today that it has arranged construction financing for District 114, a four-story, mixed-use office building with ground floor retail totaling 94,990 square feet in Southlake, Texas.

Working on behalf of the borrower, Medici Development Partners, LLC, JLL placed the five-year, floating-rate construction loan with Happy State Bank & Trust.

Due for completion in the second quarter of 2021, District 114 will offer 69,878 square feet of office space and 25,112 square feet of retail space.

The property will have average floor plates of 24,000 – 29,000 square feet and offer tenants a fourth-floor outdoor patio, a 322-space parking facility and direct access to Texas Independence Park featuring outdoor work and patio space.

 De’On T. Collins

 The 3.3-acre site is positioned within Kimball Park, a 17.58-acre, walkable mixed-use development that also includes a Cambria Hotel, The Office at Kimball Park and restaurant/retail space.

Tenants at District 114 have access to the amenities at the adjacent Cambria Hotel and Conference Center, which include a fitness center, pool, restaurant, meeting facilities and executive boardrooms.

Steve Heldenfels

The project is located in Southlake, an affluent suburb of Dallas and a corporate headquarters hub for many Fortune 1000 companies.

District 114 has exceptional regional access to the entire Dallas Fort Worth Metroplex via State Highways 114 and 121 and is close to the Dallas Fort Worth International Airport, Southlake Town Square, Park Village and The Shoppes at Southlake.

The JLL Capital Markets team representing the borrower was led by Senior Director De’On Collins and Managing Director Steve Heldenfels.

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

  

CONTACT:

Kristen Murphy

 JLL Senior Manager

Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

jll.com.

NAI Realvest Closes $4.4 Million Sale of Lake Underhill Business Center in Orlando, FL

Lisa Silva Garavelo

ORLANDO, FL – Tom R. Kelley, CCIM, Principal at NAI Realvest, completed the sale of the Lake Underhill Business Center, at 11495-11555 Lake Underhill Road, Orlando. 

 The property is a Class A office park with 2 single-story buildings totaling 35,000± SF.  Tom Kelley represented the seller, Harrington Mishler, LLC. 

Tom R. Kelley

The property sold for $4,400,000 and the sale closed on May 18^th.  The buyer was represented by Lisa Silva Garavelo with WRA Real Estate Solutions, LLC.

 The buyer, Garavelo Business Center, LLC, plans to re-locate their business, JMC Quality Builders, from their existing location off John Young Parkway in SW Orlando. 

Lake Underhill Business Center 11495-11555 Lake Underhill Road, Orlando, FL

 JMC Quality Builders is a national construction company, headquartered in Orlando that has performed jobs in over 30 states throughout the country.  They specialize in hospitality and commercial construction.

CONTACTS:

Tom R. Kelley, CCIM, Principal, NAI Realvest

407-875-9989, tkelley@realvest.com

 Patrick Mahoney, President/CEO, NAI Realvest,

 407-875-9989 pmahoney@realvest.com

www.nairealvest.com.

Levin Johnston Completes $26.8 Million Sale of 102-Unit Value-Add Multifamily Community in Concord, CA

The Lakes, a 102-unit value-add multifamily community in Concord, CA

CONCORD, CA, May 27, 2020 – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed the sale of The Lakes, a 102-unit value-add multifamily community in Concord, California.

Levin Johnston’s Executive Managing Director Adam Levin and Senior Managing Director Robert Johnston represented the seller and procured the buyer in the transaction.

Adam Levin

“The Lakes in Concord is a well-positioned asset for investors looking to achieve and sustain long-term wealth. 

"Concord’s convenient location, in addition to its comparatively low price point for the region, continues to attract renters employed throughout the Bay Area,” explains Levin.

“This acquisition is an ideal value-add opportunity for the buyer to implement strategic upgrades and simple operational improvements to drive strong return-on-investment, alongside organic growth based on increasing demand.”

The community is located near the borders of Concord, Pleasant Hill, and Walnut Creek and provides residents with direct access to local amenities, BART stations, and the greater Bay Area, notes Levin.

“This property was previously marketed unsuccessfully by another broker in the Bay Area,” says Johnston. “We understood the value of its straightforward value-add roadmap and were able to quickly identify a buyer who will be able to achieve institutional management results and capitalize on economies of scale based on their current local portfolio.”

Robert Johnston

Johnston also notes that the brokerage team’s deep knowledge of the local market and close relationships with the buyer and seller were instrumental in bringing the deal to the finish line in the current climate.

“By understanding the impacts of the pandemic on the Bay Area market and investor, we were able to negotiate a price that made sense for both the buyer and the seller,” adds Levin.

“Ultimately, we got the seller comfortable with providing the buyer with a small concession in order to finalize the transaction in a timely manner that was satisfying for both parties.”

Originally constructed in 1967-68, the three-building community offers one- and two-bedroom floorplans. Unit interiors are currently being upgraded to include new wood grain flooring and carpet, new countertops and cabinets, stainless steel appliances, and modern lighting fixtures.

Additional community amenities include a newly renovated swimming pool, secure parking electrical gates, two gazebos on the lake, laundry facility, elevators, and covered exterior walkways.

The Lakes is located at 1818, 1819, 1850 Laguna Street in Concord, California.

Contacts:

Alex Caswell / Elisabeth Manville   

Brower Group

(949) 438-6262

acaswell@brower-group.com

levinjohnston.com.