JLL Capital Markets completes sale of the three-building Urban District 183 in Euless, TX

 

Megan Babovec

DALLAS, TX,  Sept. 1, 2022 – JLL Capital Markets announced today that it has closed the sale of Urban District 183, a three-building, 366,771-square-foot, Class AA industrial park in Euless, Texas.

 JLL marketed the property on behalf of Urban Logistics Realty (“ULR”).

Dustin Volz

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Director Dom Espinosa, Associates Wells Waller and Robby Westerfield, and Analyst Megan Babovec.

“We could not be more excited about the successful completion and sale of Urban District 183,” said Drew Feagin, Director at ULR.

Stephen Bailey

“A huge team effort from a lot of folks that we are very grateful for. This project was 100% preleased at the time of delivery, which is a testament to the infill and irreplaceable location that we repeatedly aim to invest in.”

Urban District 183 is located near DFW Airport and one of the last remaining sites in the GSW/DFW Airport submarket. 

 ULR worked closely with the city of Euless to rezone the former Coopers Golf Park.

 This new facility was built on a speculative basis and now stands as Omni’s new global headquarters for executive offices, warehousing and ecommerce fulfillment.

Dom Espinosa

The property is situated off SH-183 and Industrial Boulevard at 1010 and 1000 S. Industrial Blvd. on 22.02 acres.

 The industrial park is centrally located between Dallas and Fort Worth and is an eight-minute drive to Dallas-Fort Worth International Airport.

 Located in the GSW / DFW Airport submarket, the property benefits from the area’s strong demographics with a population of 1.2 million people within a 20-minute drive, up 40% since 2000, and $20 billion of consumer spending power within the same radius.

Wells Waller

In addition, Urban District 183 benefits from the strong labor pool with 245,000 daytime workers within a five-mile radius.

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

Robby Westerfield

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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

 

 

CONTACT

Cierra Lacasse

PR, Hotels & Hospitality, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

Ware Malcomb promotes Brian Nguyen to civil engineering manager in Pleasanton, CA office

  

Brian Nguyen

PLEASANTON, CA, Sept. 1, 2022 – Ware Malcomb, an award-winning international design firm, today announced that Brian Nguyen has been promoted to Civil Engineering Manager in the firm’s Pleasanton, California office.

 In this role, Nguyen will help lead the growth and management of the Pleasanton Civil Engineering team and manage select projects.

Nguyen is an experienced civil engineer with more than 17 years of civil engineering design experience.

He has in-depth experience managing a variety of project types including public, industrial, auto, healthcare and retail projects and providing construction support throughout all phases of design and construction.

Michael G. Murphy

“Brian’s natural abilities as a leader create and maintain a positive and team-oriented environment,” said Michael Murphy, Director, Civil Engineering for Ware Malcomb.

 “An excellent civil engineer, he takes time to mentor team members, and, with his financial and operations skills, he’s identified and led efficiency improvements. We are very happy to promote him to Civil Engineering Manager.”

Nguyen joined Ware Malcomb in June 2015 as a Project Manager and was promoted to Senior Project Manager in 2018. He earned a Bachelor of Science in Business Administration from San Jose State University.

 

CONTACTS

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 Maria Rodgers, PR & Communications Manager, 949.660.9128, mrodgers@waremalcomb.com

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

 

Stirling International Brokers Two Land Sales Totaling $7.8 Million in Lake County, FL – 55 Acres in Tavares and 10 Acres in Clermont Approved for BTR Townhomes

 

Roger Soderstrom Jr.

TAVARES, FL – Two Stirling International Real Estate agents recently completed sales of a 55+ acre tract in Tavares for $3.7 million ($67,273 per acre), then 90 days later closed the sale of a 10-acre parcel in Orlando’s latest hot submarket of Clermont for $4.1 million ($410,000 per acre).

John Kurtz 

Roger Soderstrom Jr. and John Kurtz represented Jacksonville-based ALP Investments, LLC in their sale of 10 acres on Pitt Street at the intersection of Grand Highway (U.S. 27) – an “A” location in Clermont. 

 LMG Clermont, LLC purchased the property, which already had county approval for approximately 110 BTR townhomes and some of the preliminary site work completed.

SOLD:  10 acres on Pitt Street at the intersection
 of Grand Highway (U.S. 27) – an “A” location
in Clermont, FL

Soderstrom and Kurtz also represented Orlando-based sellers – Place of Peace, Place of Peace II, and The Julia Johnson Living Trust – in the sale of an assemblage of seven parcels comprised of more than 55 acres on Lane Park Road in Tavares.

With 1,300 feet of high bank frontage on Lake Harris, the Tavares property is near Woodlea Road and a 200-acre tract that Kolter Homes has under contract. There’s a working citrus farm and a 3,000 square-foot pool home on the land, Kurtz said.

With 1,300 feet of high bank frontage on Lake Harris,
 the Tavares property is near Woodlea Road
and a 200-acre tract

The buyer, Tavares Citrus Groves Holdings based in Clermont, has not shared any immediate plans for the property, which currently is zoned agricultural/residential, according to Kurtz.

Contacts:

John Kurtz, Stirling International Real Estate, 

407-250-1000 or JKurtz@StirlingIRE.com.

Roger Soderstrom Jr., Stirling International Real Estate, 407-250-1000 or roger@stirlingint.com.

 

Kairos Investment Management Co. Joint Venture acquires office/retail asset totaling 91,027 SF in Denver, CO

 

The George, an eight-story office
and retail property totaling 91,027
square feet at 820 16th Street
 in Denver, CO.

DENVER, CO. -– Kairos Investment Management Company (KIMC), a firm that focuses on value-based real estate investments, has partnered with private real estate investment firm Harbor Associates to acquire The George, an eight-story office and retail property totaling 91,027 square feet at 820 16th Street in Denver, CO.

“This joint venture acquisition aligns well with our contrarian approach, through which we invest in overlooked markets that have a demonstrated pattern of growth,” says Carl Chang, CEO and Founder of Kairos.

“In 2020, Denver was named one of the top moving destinations in the country and ranked among the top five U.S. cities for inbound growth.

"As large financial institutions become more cautious with their underwriting, our seasoned investment team will continue to carefully research areas of opportunity like Denver where Kairos can partner with firms to acquire assets with value potential.”

The George is a property that synchronizes with Kairos’ value strategy, which makes value-based real estate investments in strong recovery and growth markets by selecting assets primed for capital and operational improvements.

 As part of this strategy, Kairos plans to add value to the property by leasing up office spec suites within the building and exploring development of additional uses within the building, notes Jonathan Needell, CIO of Kairos.

 Jonathan Needell

“Many investors are being conservative about placing capital in sectors like office and retail that were hit hardest during the last two years,” says Needell.

“Conversely, Kairos views these sectors as contrarian opportunities to acquire properties that are positioned to increase in value after the pandemic.

"The George benefits from its location, as the Denver metro area is consistently ranking as one of the top cities for startups in the U.S., offering a high-quality, active lifestyle and lower cost of living compared to markets like Chicago and New York.”

A historic property constructed in 1906 and renovated in 2020, The George is an office building with ground-floor retail situated close to public transportation including a light rail station.

Joon Choi

The asset is located in the central business district of Denver, an area with a strong diverse economy of high-paying jobs within the tech, financial, medical and education sectors.

Many businesses in the area are involved in top office-using industries including artificial intelligence, life sciences, and financial products and services.

“Our joint venture partnership sees Denver as a key market for continued growth,” says Joon Choi, Principal at Harbor Associates. “Colorado is one of the fastest-growing states in the U.S., with Denver continuously leading population growth over the last four years.

 "The George’s strong location within this market and modern amenities position it for increased resident demand in the years to come.”

The George recently received several property improvements including new conference areas, a new lounge, updated HVAC, and bicycle storage—ideal amenities in light of Denver’s active lifestyle and the property’s easy-commute address.

The asset is in close proximity to recreational parks, several prominent sports arenas, shopping and dining options, as well as Denver’s 16^th Street Mall, which is currently undergoing renovations.

Contacts:

 Arleeny Escarcega / Lexi Astfalk

The Smart Agency, Inc.

(949) 438-6262
aescarcega@thesmartagency.com

 www.kimc.com.

JLL Capital Markets closes sale of 14 SixtyFive student housing community near Kennesaw State University in Kennesaw, GA

 

Teddy Leatherman

DALLAS, TX, Aug. 30, 2022 – JLL Capital Markets has closed the sale of 14 SixtyFive, a 52-unit / 241-bed, brand-new student housing community in Kennesaw, Georgia near Kennesaw State University.

 JLL worked on behalf of the seller, Fountain Residential Partners. Nuveen Real Estate acquired the asset.

 Stewart Hayes 

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Directors Teddy Leatherman, Stewart Hayes and Scott Clifton.

The boutique-style 14 SixtyFive features fully furnished two-, three-, four- and five-bedroom units with smart televisions, memory foam queen mattresses, stainless steel appliances, wood-style plank flooring, granite countertops, private bathrooms walk-in closets and balconies.

Scott Clifton

Community amenities include study spaces on every floor, a gaming room, a 24-hour fitness center, outdoor kitchen with barbecue grills, a resort-style pool and a study lounge.

 Situated at 1465 Shiloh Road, 14 SixtyFive is conveniently located one mile north of campus and provides excellent access to nearby retail and entertainment centers.

14 SixtyFive, a 52-unit / 241-bed,
 brand-new student housing community
 near Kennesaw State University

                            in Kennesaw, GA

The community offers walkability to Shiloh Square Shopping Center and the surrounding retail, including Kroger, Starbucks and Walgreens.

Additionally, the property is positioned just off of I-75, which connects students directly to the heart of Atlanta in 35 minutes by car.

 Contact:

Jenna Sharp,

 JLL Associate, Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

 

JLL Capital Markets arranges $38 million financing for The Glades at ChampionsGate, FL for Fortress Investment Group

 

 Alanna Ellis

 

 ORLANDO, FL,  Aug. 29, 2022 – JLL Capital Markets has arranged $37.75 million in financing for The Glades at ChampionsGates, a luxury 223-unit senior living community in the Orlando suburb of ChampionsGate, Florida.

Allison Holland 

JLL worked on behalf of the borrower, Fortress Investment Group, to secure the four-year, floating-rate non-recourse loan through MidCap Financial Services.   

 

The JLL Capital Markets team representing the borrower was led by Director Alanna Ellis, Managing Director Allison Holland with support from Associate Billy Lichtenstein and Analyst Zach Brantley.

William A. (Billy)
Lichtenstein

“We appreciated the opportunity to work with Fortress on this important financing. JLL greatly values our firm-wide relationships with Fortress and continued partnership in the growth of their Seniors portfolio," said Ellis.

 

 "We look forward to this community’s success as a great addition to Fortress’s portfolio."

 

The Glades at ChampionsGates offers independent living, assisted living and memory care units.

Zach Brantley

The property consists of one- and two-bedroom units ranging from 627 to 1,060 square feet. Community amenities include outdoor courtyards and patios, a swimming pool, movie theater, activity room, fitness center, salon, bar and bistro and casual, main and private dining rooms.

 

The property is located at 8400 Champions Gate Blvd. on 11.6 acres within the 1,500-acre master planned community of ChampionsGate, which is home to the well-known Omni Resort, high-end golf courses and numerous retail and dining venues.

 

 The Glades at ChampionsGates is situated roughly 20 miles southeast of the Orlando CBD and 60 miles northeast of Tampa, in addition, Interstate 4 is less than half a mile away providing access to the rest of the state.

The Glades at ChampionsGates,
a luxury 223-unit senior living community
in the Orlando suburb of ChampionsGate, FL

 The community benefits from the tremendous growth in population the Orlando MSA has seen in recent years, with a 5-6% annual growth rate projected through 2027 for all cohorts, along with 12.5% annual growth for the 75+ population.

 

 Additionally, the area has seen an influx of businesses and residents migrating from high cost of living markets seeking the low cost of living and taxes Florida offers. The influx of wealthier adult children is a prime demand driver of seniors in need of independent and assisted living.

 

Contact: 

 

Cierra Lacasse

JLL Associate

Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

Stan Johnson Co. Completes $49 million deal of Huntington Park, CA Target

 

 Ashley Wilhide 

 

   HUNTINGTON PARK, CA -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a freestanding retail property located at 5731 Bickett Street in Huntington Park, California.

The 56,000-square-foot property is expected to be completed by developer Shane Companies in January 2023 and is fully leased to Target under a long-term triple net lease.

Jason Maier

Jason Maier of Stan Johnson Company represented the 1031 exchange buyer, a New York-based private investor, who acquired the asset for $48.7 million. Financing was provided by Principal Life.

“We know Target is extremely excited to get this site open, and we are proud to have been part of such a dynamic acquisition,” said Maier, Senior Director in Stan Johnson Company’s New York office.

“Target searched long and hard to find a site suitable to serve the community of Huntington Park.”

David Horowitz

                Shane Companies started construction on the property in June 2022. Situated on 4.1 acres south of Los Angeles, this site will boast a brand new Starbucks, Tesla charging stations and the urban format needed for Target.

“We are excited to announce this acquisition on behalf of our client. This was a very challenging transaction from the beginning, and we are sincerely appreciative of the entire development team at Shane Companies, our lender Principal Life, the mortgage broker, David Horowitz, at Cooper Horowitz, and Jonathan Margolis, the buyer’s attorney, at Morrison Cohen LLP,” added Maier.

 Jonathan Margolis

 “I would also like to give a special mention to my colleague Ashley Wilhide and the entire team at Stan Johnson Company. This was the kind of transaction that required extra attention and focus from start to finish.

"I want to personally thank each and every person involved in this transaction for their unwavering dedication and problem solving ability.”

Contact:

David Ebeling

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com

 www.stanjohnsonco.com