Monday, December 21, 2020

Ware Malcomb Announces Construction is Complete on Relocation of Key Food Corporate Office in New Jersey

Marlyn Zucosky
 

 OLD BRIDGE, NJ, Dec. 21, 2020 – Ware Malcomb, an award-winning international design firm, today announced construction is complete on the relocation of Key Food’s corporate office located at 100 Matawan Road in Old Bridge, New Jersey.

 Ware Malcomb provided interior architecture and design and branding services for the project.

 Founded in 1937, Key Food Stores Co-op, Inc. is a cooperative of independently owned supermarkets located in Connecticut, Massachusetts, New Jersey, New York, Pennsylvania, and Florida, with the corporate office located in New Jersey.

 The mailing address for the new corporate office is 100 Matawan Road, Matawan, New Jersey. 

 The relocation of Key Food’s corporate office from Staten Island to a Class A office building in Old Bridge covers two floors. The space is over 38,000 square feet and includes a reception area, open and private offices, conference rooms, fitness center, wellness room and multiple break rooms featuring custom millwork. 

     Key Food's new corporate office meeting room, Old Bridge, NJ

 The project also features a dedicated executive suite and a test kitchen facility. The first floor has a designated waiting area for vendors and consultants visiting Key Food.

 The test kitchen is used to create new recipes to carry in store and functions as a demonstration area that allows vendors to experience food preparation firsthand.

 Ware Malcomb took advantage of the window line in the cafe and workplace to provide ample natural light to flow throughout the office. Sit-to-stand workstations and a fitness center were designed for employee comfort and overall well-being.

 “The new corporate office was designed to promote Key Food’s strong company culture and tell a story throughout the space,” said Marlyn Zucosky, Director, Interior Architecture & Design of Ware Malcomb’s New Jersey offices.

  “Ware Malcomb focused on creating a space offering productivity and efficiency throughout the departments for their growing team, while upholding the innovation and values of Key Food.”

 CBRE was the broker and project manager and Unity Construction Services, Inc. was the general contractor on this project. 

CONTACTS:

Rachel Devany

VP Public Relations

KCOMM for Ware Malcomb

Rachel@kcomm.com 

 Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

 Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

 

Saturday, December 19, 2020

New Jersey industrial facility financed

         77,875-square-foot industrial facility located at 100 Industrial Road

         in the Northern New Jersey community of Berkeley Heights.

 

MORRISTOWN, NJ– JLL Capital Markets announced it has arranged $9 million in financing for a fully leased, 77,875-square-foot industrial facility located at 100 Industrial Rd. in the Northern New Jersey community of Berkeley Heights.

Greg Nalbandian

 JLL worked exclusively on behalf of the borrower, a joint venture between Camber Real Estate Partners and an institutional investor, to place the five-year, fixed-rate loan with First Bank.

The borrower acquired the property vacant in an off-market transaction earlier this year and is performing extensive renovations to divide the building into two well-appointed units that are both leased on a long-term basis.

Situated on 4.58 acres in the Route 78/22 Industrial submarket, Berkeley Heights is an affluent suburban bedroom community of New York City located in Union County.

The building is in a small industrial neighborhood that has access to Northern New Jersey’s transportation infrastructure, including Interstates 78 and 287 and U.S. Highway 22.

 

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Managing Director Greg Nalbandian and Vice President Michael Lachs.

 

“Camber created significant value pre-leasing the entire building at very attractive rents,” Nalbandian said. 


“These attributes combined with best-in-class sponsorship made this a very attractive financing opportunity. First Bank did a terrific job closing this loan, and we were honored to represent Camber on another successful project.”

 

Michael Lachs

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 sales 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 our newsroom.

 

CONTACTS:

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

Kimberly.Steele@am.jll.com

 

us.jll.com/capitalmarkets

jll.com.


New Class A Lehigh Valley warehouse facility trades


New, fully leased, Class A, approximately 600,000-square-foot warehouse and bulk distribution facility
at 30 Ludwig Court within Hamburg Commerce Park
 in the Lehigh Valley community of Shoemakersville, PA.
 
  

John Plower

PHILADELPHIA, PA – JLL Capital Markets announced it has closed the sale of a new, fully leased, Class A, approximately 600,000-square-foot warehouse and bulk distribution facility at 30 Ludwig Court within Hamburg Commerce Park in the Lehigh Valley community of Shoemakersville, Pennsylvania. 


JLL worked on behalf of the seller, a joint venture between The Keith Corporation and Kiel Group. KKR, a leading global investment firm, purchased the asset through its core plus real estate strategy.

Pete Pittroff

 
Completed in 2020 to the highest industry standards, 30 Ludwig Court is occupied by a high-quality, investment-grade tenant.

  Building features include a cross-dock loading format, 36-foot clear height, 50 dock-high doors expandable by an additional 56 knock-out panels,169 trailer stalls, ESFR fire protection, LED lighting, deep truck court and four office entrances.


The property is situated on a 38.6-acre parcel in the master-planned Hamburg Commerce Park, a development owned by The Keith Corporation and Kiel Group providing over 2.4 million square feet within the Lehigh Valley Industrial Market, a premier distribution location and one of the most sought-after markets in the country.


Rob Kossar
30 Ludwig Court is situated along Route 61, which provides north-south access to Reading, and 2.7 miles from Interstate 78, providing easy access to other regional arterials and the Lehigh Valley International Airport.


 Additionally, the property is 80 miles from Philadelphia and 119 miles from New York City.

 

The JLL Capital Markets team representing the seller was led by Senior Managing Directors John Plower and Pete Pittroff, Vice Chairman Rob Kossar, Executive Vice President Jeff Lockard and Associate Ryan Cottone.


Jeff Lockard
“30 Ludwig Court afforded KKR a tremendous opportunity to pick up a Class A building in a core industrial location that we expect will continue to see strong rental rate growth in the foreseeable future,” Plower said.


 
“The Hamburg Commerce Park is a high-end, master-planned industrial park, and we are excited to see the remainder of the   park built out.”

 

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 sales advisory, debt placement, equity placement or a recapitalization. 


Ryan Cottone

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 our newsroom.

 

 

About The Keith Corporation

 

The Keith Corporation is a privately held, full-service commercial real estate firm. Headquartered in Charlotte, North Carolina, TKC has projects in 35 states, Mexico, Australia, Canada and the United Kingdom. 


CONTACTS:

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

Kimberly.Steele@am.jll.com

 

us.jll.com/capitalmarkets

jll.com.

 

Friday, December 18, 2020

Multi-housing brownstone on New York City’s Upper West Side sold for $5.2 million

 

103 West 75th Street, a 7,225-square-foot
multi-housing property located in
 the Central Park West Historic District
on New York’s Upper West Side.
 

NEW YORK, NY— JLL Capital Markets announced it has completed the $5.2 million sale of 103 West 75th St., a 7,225-square-foot multi-housing property located in the Central Park West Historic District on New York’s Upper West Side.

JLL worked on behalf of B.I.G.G., LLC to complete the sale to the 103 West 75th Street LLC.

 Paul Smadbeck 


The Renaissance revival-style building is currently divided into five expansive, fair-market, floor-through apartments. 

Layouts include two-, three- and four-bedroom units, with ground-floor units including direct access to a bright outdoor garden.

The top-floor four-bedroom unit features a rooftop penthouse and two outdoor terraces.

Located between Columbus and Amsterdam Ave., 103 West 75th St. is near the area’s best restaurants, bars, shopping and attractions, including the American Museum of Natural History.

The property is steps from Central Park and subway service on the 1, A, B, C and D lines.

The JLL Capital Markets team representing the seller was led by Managing Directors Paul Smadbeck and Hall Oster, Vice Presidents Teddy Galligan and Conrad Martin, and Associate Braedon Gait.

 Hall Oster

“This investment property offers remarkable versatility in one of the most popular neighborhoods in New York City,” said Smadbeck. 

“It provides the opportunity for single-family occupancy, with a live-plus-income option, or it can continue as a prime income-producing asset with five highly attractive floor-through apartments.”

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 sales 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.

Teddy Galligan 

For more news, videos and research resources on JLL, please visit our newsroom.

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 in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. 

Conrad Martin


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

 

CONTACTS:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

 us.jll.com/investorservices

Braedon Gait


George Shea, Rachel Tate

Company: Shea Communications

Phone: +1 212 627 5766

Email: rachel@sheacommunications.com

 

 

 

Coakley & Williams Hotel Management Company Selects Hotel Investor Apps (HIA) for New Accounting Platform

Charlie Fritsch

 GLENWOOD, MD, Dec. 18, 2020 -- Hotel Investor Apps (HIA), the provider of the only hotel-specific Enterprise Resource Planning (ERP) platform and state-of-the-art, next generation accounting software, today announced that Coakley & Williams Hotel Management Company (C&W), a leading, nationwide, full-service hotel management company, has converted to its new platform to reduce hotel expenses and gain greater flexibility for its owners and property level management. 

            

“HIA is disruptive technology. Having all of your business programs on one platform, integrating data and eliminating many hours of wasted time every week with built-in automations is like leaping from floppy disks to the cloud,” said Charlie Fritsch, CEO of Hotel Investor Apps.

Stephen Hahn

 “In the current economic and travel climate, hotel owners increasingly want time- and money-saving options to reduce expenses and improve profitability. 

"Our technology provides the only true-cloud, Enterprise Resource Planning platform built specifically for hotels, as well as the only full functionality mobile app, which provides more accounting services to clients with easier access than any other software. 

"One literally can review P&Ls and budgets and analyze real-time data for an entire hotel portfolio all from the convenience of a handheld device.”

“It might seem counterintuitive to purchase and convert to new software during the worst hotel downturn in the last 50 years,” said Stephen Hahn, Coakley & Williams vice-president of corporate services/CIO. 

               Chris Daley

 “However, this software gives our operators and owners the latest technology which allows a more efficient workflow, while giving us easier access to data. 

"This allows us to manage revenues and expenses more accurately and rapidly. This software makes us and our hotels more competitive.”

 






CONTACT:

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

$16.96 million equity raise secured for Arkansas student housing community

 Teddy Leatherman
 

 DALLAS. TX, Dec. 18, 2020 – JLL Capital Markets announced today that it has arranged $16.96 million in joint venture equity for Ozark Villas, a 670-bed student housing community serving the University of Arkansas (U of A) in Fayetteville, Arkansas.


Ozark Villas, a 670-bed student housing community at 870 South Beechwood Avenue, serving the University of Arkansas (U of A) in Fayetteville, AR

 JLL worked on behalf of Fountain Residential Partners to secure the equity through a partnership between CrowdStreet, Inc. and a family office.

 Brent Little

Proceeds were used to acquire the property and fund a complete renovation, upgrade and rebranding of the property to Ozark Villas, formerly named Beechwood Village.

The student housing property will benefit from building and unit upgrades, cosmetic enhancements, a complete amenity upgrade, new fitness equipment, and unit furniture package upgrades that will position Ozark Villas as the premier cottage-style community in the market.

 Ozark Villas is located at 870 S. Beechwood Ave. immediately southwest of the U of A campus, which serves more than 27,000 students and is the largest university in Arkansas. 

The property is proximate to numerous retail, dining and nightlife offerings and is just east of Interstate 49 providing connectivity throughout the state.

Scott Clifton 

 Completed in 2015, Ozark Villas consists of 213 units offering one-, two- and four-bedroom floorplans.

Units are fully furnished with modern pieces, offer private bathrooms for each bedroom, in unit washer/dryers, oversized walk in closets, private balconies and patios and modern kitchens.

 Community amenities at the LEED® certified property include a resort-style pool with outdoor kitchen, community green space with firepit, sand volleyball court, lighted basketball court, modern clubhouse, 24-hour fitness center and collaborative and private study spaces.

Ozark Villas is also located along the University bus route and has direct access to the Razorback Greenway.

 Brent Little, President of Fountain Residential, says, “When completed in 2015, Beechwood Village was the top performing asset in the Fayetteville market. 

Jeremy Sain

 For the first few years we were able to lease up over 100%.  Under new ownership and with fresh, new capital behind us, we are going to bring the property back to a new construction level and create the best in class property for our residents and investors.”

The JLL Capital Markets team representing Fountain Residential Partners was led by Managing Director Jeremy Sain and Directors Teddy Leatherman, Scott Clifton and Stewart Hayes.

 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 sales advisory, debt placement, equity placement or a recapitalization.

Stewart Hayes


 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 our newsroom.

 About Fountain Residential Partners

Fountain Residential Partners, LLC is a privately held Dallas-based multifamily real estate development, acquisition, and asset management company.  

Fountain Residential is managed by seasoned real estate professionals that have a combined experience of over 60 years in the industry having completed over $1.5B in student housing projects.


CONTACT:

Kristen Murphy

Senior Manager

 Public Relations

Investor Services JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 www.jll.com