Friday, April 9, 2021

Mission-critical office complex in D.C. area trades

Plaza East office complex, 14291 and 14295
Park Meadow Drive
                                                  Chantilly, VA
 

  WASHINGTON, DC – JLL Capital Markets announced  it has closed the sale of Plaza East, a two-building, approximately 247,000-square-foot office complex located in Chantilly, Virginia.

Matt Nicholson

JLL represented the seller, a venture between affiliates of Rockpoint Group and MRP Realty, and procured the buyer, The Meridian Group. Additionally, JLL worked on behalf of the buyer to secure acquisition financing.

 Plaza East was built in 2007 and is fully leased to seven tenants with approximately nine years of weighted average lease term. The largest tenant in the complex is Perspecta, Inc.

 Located at 14291 and 14295 Park Meadow Dr., the complex is in the heart of the cyber-intelligence hub of the Westfields submarket.

Jim Meisel

This location offers immediate proximity to numerous federal demand drivers, including the National Reconnaissance Office, the FBI Cyber Division and CIA.

Additionally, the area boasts a robust amenity base of retail, dining and entertainment options along the Route 28 corridor.

 The JLL Capital Markets team representing the seller was led by Matt Nicholson, Jim Meisel, Andrew Weir and Dave Baker. Financing efforts for the buyer were led by JLL Capital Markets’ Paul Spellman and Dan McIntyre.

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

Andrew Weir

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.

 About Rockpoint

Rockpoint Group, L.L.C. (“Rockpoint”) is a real estate private equity firm and Registered Investment Adviser headquartered in Boston and with additional primary offices in San Francisco, Dallas and London.

 Dave Baker

Rockpoint employs a fundamental value approach to investing and targets select product types located in major markets in the United States.

Rockpoint utilizes a consistent strategy across distinct return profiles through its opportunistic and growth and income investment programs.

Rockpoint targets assets with intrinsic long-term value, at attractive prices relative to replacement cost and stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations.

Since 1994, Rockpoint’s co-founders with others have sponsored 15 commingled funds and related co-investment vehicles through Rockpoint and a predecessor firm. 

Paul Spellman 

In total, they have raised approximately $25 billion in capital commitments and invested or committed to invest in 426 transactions with a total peak capitalization of approximately $64 billion (inclusive of fund equity, co-investor equity and debt).

To learn more about Rockpoint Group, visit rockpoint.com.

 About MRP Realty

MRP Realty delivers a full array of real estate services, including acquisition and disposition, development and construction management, property management, asset management and financial reporting services.

Dan McIntyre
Since its inception in 2005, MRP has deployed $4.9 billion in total capitalization, an average of over $330 million per year. Its combined development assets total more than 25 million square feet, with an additional 10+ million square feet under management.

 About The Meridian Group

Over its 26-year history, Meridian has acquired over 14 million square feet of office, residential, hotel, and mixed-use space as well as over 800 acres for development - primarily in the Washington, DC metropolitan area. This local focus, together with extensive industry experience and an unparalleled perspective, has resulted in Meridian's powerful record of value creation. 

 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


Stan Johnson Co. Brokers 1031 Exchange Sle of Fesenius Medical Care Facility in Phoenix, AZ for $9.5 Million

Fesenius Medical Care dialysis facility,
 450 South Gilbert Road, Phoenix, AZ

 PHOENIX, AZ -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 13,416-square-foot medical property leased to Fresenius Medical Care.

 The dialysis facility is located at 450 South Gilbert Road in Phoenix, Arizona. An individual 1031 exchange buyer based in New Jersey purchased the asset for $9.5 million, reflecting a 5.01 percent cap rate.

 The buyer was represented by Jason Maier of Stan Johnson Company. The seller was a Southlake, Texas-based developer.

“The buyer was putting together a portfolio and was seeking diversification,” said Maier, Senior Director in Stan Johnson Company’s New York office.

Jason Maier 

“Arizona is a tremendous growth market with a significant amount of medical office development. And while there are some great operators in the medical space, very few have investment grade credit.

"We were able to justify the compressed cap rate due to the strong lease guarantee combined with the property’s new construction and overall quality of the real estate.”

The build-to-suit facility was constructed on 2.01 acres in 2019 and is in close proximity to three major hospitals including Mercy Gilbert Medical Center. The asset features a long-term net lease with annual increases.

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Thursday, April 8, 2021

Alliant National's Brenda Cannon Promoted to Regional Counsel Florida and Senior Vice President

Brenda J. Cannon

Longmont, CO, April 8, 2021 - Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position, announces the promotion of Brenda J. Cannon to the position of Regional Counsel Florida and Senior Vice President.

Cannon is a highly-skilled attorney with more than 26 years of experience in title insurance and 35 years in real estate. During her career, she has served as both Claims Counsel and Underwriting Counsel, analyzing risk, determining how to fix title defects, resolving claims, and managing outside counsel.

 Margaret Cook

Cannon received her Juris Doctorate with Honors from the University of Florida College of Law where she was a member of the Law Review. She is an active member of the Florida Bar, the American Land Title Association, the Florida Land Title Association, and the American Bar Association. She is also Board-Certified in real estate law by the Florida Bar.

Cannon’s experience will serve her well in her new role with Alliant National, where she will continue leading and expanding Alliant National’s Florida underwriting department and working with the rest of the Florida team to support the ongoing, explosive growth of the organization in the region.

“I’m excited to continue my work leading our wonderful underwriters in the Florida-area,” said Cannon. “Alliant National is currently experiencing a period of exciting and 
 rapid growth, and it is an honor to help our underwriting team continue to offer the best service in the industry.”

“We feel incredibly lucky to have Brenda as part of our leadership team,” said Margaret Cook, EVP, General Counsel and Chief Legal Officer of Alliant National. “Her deep understanding of the law, robust industry experience and natural leadership ability make her the ideal choice to lead and grow our underwriting operations in Florida.”

CONTACT:


Cathie Beck
303.241.0805
cathie@capitalcitypr.com

alliantnational.com 


JLL Valuation Advisory adds new service line and key hire

 

 Jeff Manas

CHICAGO, IL, April 8, 2021 – JLL Valuation Advisory announced today that it has hired Jeff Manas to head its new Environmental and Property Condition service in order to provide an end-to-end solution for clients and create a unified, best-in-class resource for third-party due diligence reports in the U.S.

As part of JLL Valuation Advisory’s sector-led approach to all real estate asset classes and property sectors, Manas, who is a Managing Director and based in Washington, D.C., will partner with JLL’s global Valuation Advisory business and report to Tony Lenamon, head of JLL’s national Valuation Advisory Multi-Housing practice in the U.S.

Tony Lenamon

“JLL’s Valuation Advisory group’s investment in this strategy fills an important service gap and enables the firm to better serve clients,” Manas said.

“JLL expanding into more of the conventional due diligence aspects of the industry will support growth across the valuation, property management and project management client base.”

U.S. property valuation and tax consulting services are performed by JLL Valuation & Advisory Services, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

 CONTACT:

Kimberly Steele

Senior Associate

Public Relations

T +1 713 852 3420

M +1 832 244 9994

Kimberly.Steele@am.jll.com

 

$10 Million Crowdfunding Campaign Launched to Develop $100 Million Mohawk at Wynwood Project in Miami, FL

 

 Jilliene Helman

MIAMI, FL -- A $10 million crowdfunding campaign has been launched to develop Mohawk at Wynwood in Miami, FL.

 

As Miami real estate gets hotter and hotter - with the likes of Peter Thiel recently relocating his VC firm to the sunshine state - Mohawk will be a $100 million development.


 Diego Ojeda 

 

The project is planned to transform 1.5 acres in Wynwood, Miami into a 225-unit, 12-story, luxury multi-family building containing 220,750 sf of leasable square feet with 22,000 sf of prime ground floor retail. 


 Jilliene Helman is the CEO of RealtyMogul. Diego Ojeda of the Rilea Group is the creative force behind this project. Wynwood has partnered with RealtyMogul to crowdfund the financing of this development.

 $10 million of the project's $100 million price-tag is being raised via RealtyMogul, one of the top real estate crowdfunding platforms with a community of over 200,000 investors across a $2.8 billion portfolio that includes over 15,000 multifamily units.

Rendering for a planned 225-unit, 12-story, luxury multi-family building containing 220,750 sf of leasable square feet 

with 22,000 sf of prime ground floor retail 

in Wynwood, Miami, FL


The developer is Rilea Group, with a 40-year track record of successful developments in South Florida.

 The project will provide not just residences, but a turn-key lifestyle, built-in social scene, art, yoga, activities, food and culture to those who live there.

 

Located at the crossroads of Miami’s trendy and bourgeoning Wynwood and Midtown neighborhoods, Mohawk will be bringing much-needed units to an area where housing demand far exceeds supply.


 

Peter Thiel 
At the same time, the project will bring a stylish, modern community to an area that already leads the nation in artisanry. 


The mechanism being used to finance this development is equally innovative: crowdfunding.

 

As this pandemic continues to drive residents to flee California and New York for Florida, a wave of new Miami residents is driving this real estate boom.







CONTACT:

 

Lauren Estes

lauren@laurenestescommunications.com

Florida Real Estate Executives Ron Schwartz and Artie Schneider Launch New Company to meet the demands of developers, owners and operators

 

Artie Schneider
 

  

ORLANDO, FL --- Two Florida real estate executives and their financial and IT associates have formed a new company to meet the demands of developers, owners and operators, especially new entrepreneurs, by providing a myriad of services they have perfected throughout their solid careers.

Ron Schwartz and Artie Schneider, veterans in the real estate industry, recently formed FLORIDA-REO, LLC (FREO) a real estate consulting firm based in Orlando at 7217 East Colonial Drive, Suite 215 , with a satellite office in Cape Cod , MA. 

 

Ron Schwartz

 

“FREO provides the tools and strategies necessary for successful property development from land acquisition, entitlement and construction through sales or lease up, to financing and closings, and back-office operations,” Schwartz said/

 

He added, “We can also assist owners and developers interface with planners, engineers, attorneys, lenders and other professionals needed to accomplish a project.”



Providing the “answers” for over 25 years to owners and developers along the eastern Seaboard, both Schwartz and Schneider have helped facilitate market defining real estate projects, such as Avalon Lakes, Eastwood, KeysGate, Kingwood, Island Pointe, Mandarin, 1310 Apartments and Park Lake. 

 

Now they aim to share their expert understanding of market conditions, demographic trends and commercial real estate negotiations.



 

“FREO can also provide management of assets, as well as specialized brokerage services to the homebuilding trade in the acquisition of land, lots and sites, and for apartment developers, and other specific services including being the liaison for owners in their relationship with contractors,” said Schneider.

 

These strategic planners and creative problem solvers are on a mission to fill some voids many of today’s developers face.  They maintain they’ll get the job done at a fraction of the cost of hiring expensive employees for an extended time.


CONTACTS:


Ron Schwartz,

Principal,

Florida REO, LLC.

407-342-3648

 

 Beth Payan, Larry Vershel Communications Inc.

 407-644-4142 Lvershelco@aol.com.  

 

www.florida-reo.com 


Hold-Thyssen’s Class A Office Leasing Still Steady in 2021

 

Darby Hold

WINTER PARK, FL --- Hold-Thyssen, Inc., a full service commercial property firm based in Winter Park , negotiated three professional office lease agreements in the first 90 days of the year with businesses getting back to normal in Class A buildings at locations in Orange County .

 

Darby Hold, Senior Director at Hold-Thyssen, Inc. represented the landlords in each of the following lease transactions.

 

Arrowsmith Realty, 1,360 square feet at the 175 E. Main Street Building in Apopka where NMR, LLC is the landlord. 

 

The tenant provides residential real estate expertise.    American Concept & Design, 515 square feet at Phillips Place, 7575 Dr. Phillips Blvd. in Southwest Orlando where Financial Way Realty, Inc. is the landlord. 


Phillips Place, 7575 Drive Phillips Boulevard,
 Southwest Orlando, FL
 


The tenant is an interior design firm focusing on design of healthcare institutions, professional offices and residential;   The law firm of Marshall S. Adler, P.A., 469 square feet at 1031 W. Morse Blvd. in Winter Park , where Morse Boulevard Development Associates, LLC. is the landlord.  The tenant specializes in Workers’ Compensation law. 

 Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

 

CONTACTS:

           

Anthony Fisher, Vice President, Hold-Thyssen Inc.,

 407-691-0505, afisher@HoldThyssen.com

 

Robert P. Hold, Principal, Hold-Thyssen, Inc.,

407-691-0505, bhold@HoldThyssen.com

                                                                                                                       

Beth Payan, Larry Vershel Communications Inc.

 407-644-4142 Lvershelco@aol.com.  


Wednesday, April 7, 2021

Stan Johnson Co. Brokers Sale Leaseback of Indianapolis, IN Manufacturing Facility

 

Katie Elliott 

INDIANAPOLIS, IN -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale leaseback of a 50,000-square-foot manufacturing facility located at 705 South Girls School Road in Indianapolis, Indiana.

  Stan Johnson Company’s Katie Elliott co-marketed the property with Chip Sipple and the Lincoln Property Company on behalf of the seller, Applied Composites Inc. The asset was purchased by an investor group located in New York.

 “Investors are bullish on industrial facilities with quality tenants and a compelling backstory,” said Elliott, Associate Director in Stan Johnson Company’s Atlanta, Georgia office.

SOLD-LEASEBACK:  50,000-square-foot manufacturing facility
 located at 705 South Girls School Road in Indianapolis, IN

 “We were able to secure multiple offers and closed the transaction within a 60-day timeframe.”

 Applied Composites Inc. is a leading manufacturer of composites with four decades of expertise in the commercial aerospace, defense and space industry.

 This facility serves as a mission-critical manufacturing and distribution site, and the seller executed a long-term triple net lease at closing.

 CONTACT

   David Ebeling

   Ebeling Communications

   (949) 278-7851

    david@ebelingcomm.com

 www.stanjohnsonco.com.

 

Floyd's 99 Barbershop Opens in Orlando, FL

  

Sarah and Kyle Sleeth


ORLANDO, FL– The doors of the most recent Floyd’s 99 Barbershop expansion opened March 26th at 3097 Curry Ford Rd. Orlando, FL 32806 with a ribbon cutting attended Patty Sheehan, Orlando City Commissioner.

 

 This is the seventh location for the modern barbershop chain in Central Florida and owned by Kyle and Sarah Sleeth. 


Kyle and Sarah Sleeth were entrepreneurs in search of a cause. When Kyle’s professional baseball career as a pitcher with the Detroit Tigers ended in 2008 due to an injury, the couple knew they wanted to have their own business. But they also wanted to have an even bigger purpose.

The most recent Floyd’s 99 Barbershop expansion opened 
March 26
 at 3097 Curry Ford Road, Orlando, FL 32806

“We were interested in providing a great service to our customers, creating a great work environment, and impacting the community where we operated,” says Sarah. 

The couple chose Floyd’s 99 Barbershop, a national franchise for men & women that offers an alternative twist on an old school classic. They were drawn to the brand’s authentic vibe and commitment to a client-first approach. 

Today, the Sleeths operate six Floyd’s 99 shops in central Florida and have three more shops in development. They provide great jobs and employee benefits. 

“Across our six central Florida shops we have 130 employees and offer health, dental, and vision coverage; life insurance; accrued paid time off; and free hair education,” she says.

Photo by Roberto Gonzalez Copyright 2016
(Part of the Floyd's Barbershop gang)

 Compassion is a part of the fabric of the Sleeth’s operating philosophy. 

“We try our hardest to build a personal relationship with each employee and show them that they’re appreciated,” says Sarah. 

“I make it a habit to greet every single team member when we visit a shop and learn at least one new thing about them. I also make sure I say at least one nice thing to someone – whether it’s a cool haircut or they look great that day.”

And their compassionate spirit goes beyond their shops and out into the community. When the Pulse nightclub shooting happened in 2016, the Sleeths lost 17 clients. 

Pulse nightclub today, Orlando, FL

“When you’re in the hair grooming space, you’re really part hair stylist, part therapist – especially given the community nature of Floyd’s 99,” says Sarah. 

In the aftermath, the Sleeths gave their employees and the community a space to talk about what happened and assist in the healing process. 

OneOrlando signature

Together, they also raised more than $70,000 for OneOrlando, a local non-profit organization that supported Pulse victims’ families and survivors.

Only a month after the Pulse shooting, one of their barbers suddenly passed away leaving behind a young daughter. The Sleeths adopted the employee’s family and raised funds to help support them. 


They also began providing life insurance to all their employees. “Those immediate months were especially hard for everyone, but they stayed focused on taking care of each other and anyone that walked through our doors,” says Sarah.

 Their community is like a family to the Sleeths. “We’re very grassroots, so you can find us frequently at local community events, partaking in the festivities and giving out swag or coupons,” she says.

Jonas Never

The Sleeth’s latest community activity involves the creation of a Jonas Never mural right outside one of their shops. Jonas Never is a famous LA muralist who has painted murals outside a majority of Floyd’s 99 locations nationwide.

“Over the next few weeks, he’s painting a large Freddie Mercury mural right outside our Floyd’s 99 shop on Mills Avenue (near Pulse nightclub) and a Mr. Rogers mural outside our Winter Park shop - across the street from where Fred Rogers attended college. "The murals are going to be amazing – we can’t wait to show the community,” she says.

Patty Sheehan

Sarah believes that she and Kyle have been successful at Floyd’s 99 because the brand offers a great product, a proven system, and fantastic support. But she’s also bullish on the kind of culture she and Kyle have created. 

She says it all boils down to happy employees who create happy clients. That’s why, she says, they make sure each shop is characterized by a positive, fun environment that provides employees a sense of empowerment and a chance to flourish.

Frank Sinatra

“If a client is having a bad day, it’s okay to give them a free shampoo or extra-long shoulder massage to help them relax,” she says. “I tell them to just do the right thing and have empathy for one another.”

If Floyd’s 99 Barbershop sounds like the right investment opportunity for you, visit www.floydsbarbershop.com/FRANCHISE/.

  “We are thrilled to expand the Floyd’s footprint in the Orlando market,” says Bill O’Brien, co-founder of Floyd’s Barbershops. 

 

 Each Floyd’s has its own vibe showcased by their exclusive hand-curated poster wall highlighting musical greats throughout the decades with special emphasis on local artists. 

 

This shop’s poster wall includes classics like Frank Sinatra mixed in with modern pop culture icons like Billie Eilish

 

 Billie Eilish

 Some of these services are on a temporary hiatus as Floyd’s adheres to local requirements and incorporates additional strict safety rules based on the recommendations of health officials. 


Clients and employees are required to wear face masks at all times. Government restrictions on capacity are strictly enforced at each shop.

 

Employees and clients have temperature checks prior to a shift and their service. Barbers and stylists sanitize hands and tools, disinfect barber chairs, and provide clients with fresh capes and towels. 


The Scissors Trim

Every night and each hour while open, surfaces and high-traffic areas throughout the shops are cleaned and sanitized. 

 

Clients are asked to call ahead or make a reservation online; those not getting a service will be asked to wait outside the store to ensure optimal social distancing.  

 

Floyd’s will be open Monday-Thursday 10 a.m. to 8 p.m., Friday and Saturday 9 a.m. to 7 p.m. and Sunday 11 a.m. to 6 p.m. Reservations can be made at floydsbarbershop.com  or by calling (407) 379-7840. 

 

 ABOUT FLOYD’S 99 BARBERSHOP


Paul, Rob, and Bill O’Brien

 Floyd’s 99 Barbershop is a family-owned company, established in 1999 by brothers Paul, Rob, and Bill O’Brien on the principle that success is driven by providing superior client service and that satisfied employees result in satisfied clients.

 

Floyd’s 99 Barbershop operates over 125 locations in 14 states, including AZ, CA, CO, FL, IL, KY, MA, MD, MI, MN, NV, PA, TX and VA. 


CONTACT

KAYLA MCDONALD

Account Coordinator, Prim + Co

T: 805.766.9496

66 South Logan Street

Denver, CO 80209

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