Lake Washington Partners acquires industrial property in Dallas, TX

 David M. Rubenstein

 DALLAS, TX – JLL Capital has closed the sale of Tradepoint 20/45, a newly completed 418,000-square-foot industrial building in Dallas, Texas.The price was not disclosed.

 JLL represented the buyer, Lake Washington Partners, in the sale from Blumenfeld Development Group and Declaration Partners.

Dustin Volz

The JLL Capital Markets Investment Sales Advisory team representing the buyer was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Executive Managing Director Adam Citron, and Directors Dom Espinosa and Zach Riebe.

 

Tradepoint 20/45, which was completed in early 2022, offers 36’ clear heights, 60’ deep staging bays, 78 dock doors, two ramps, 124 parking spaces and 107 trailed parks.

 

Located at 4831 Cleveland Road Tradepoint 20/45 is positioned 13 miles from downtown Dallas, 18 miles from Dallas Love Field Airport and 33 miles from Dallas/Fort Worth International Airport.

Stephen Bailey

Furthermore, the property has easy access to the Texas Triangle, the area between Dallas-Fort Worth, Houston and San Antonio/Austin. This allows future tenants to reach 25 million residents within a five-hour drive.

 

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

 

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

Adam Citron

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

 

About Declaration Partners

Declaration Partners is a private investment firm that seeks to be a value-added capital partner and strategic resource to management teams and asset owners where patient, flexible capital provides an advantage. 

Declaration has approximately $2.5 billion in assets under management across its investment strategies, which include real estate, growth equity, platform company investments, fund seeding, and other opportunistic strategies.

 

Anchored by the family office of private equity veteran and philanthropist David M. Rubenstein, Declaration invests on behalf of family offices and like-minded institutional investors.

 

The firm was founded in 2017 and is headquartered in New York with an office in the Washington, DC area.

 

 

Contact:

 

 Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email: Cierra.Lacasse@jll.com

jll.com.

High-performing Miami shopping center trades for $70 million to Orion and Limestone Asset Management

 

Kim Flores

MIAMI, FL – JLL Capital Markets has closed the $70 million sale of Colonial Palms Plaza, a 188,389-square-foot, high-performing retail center located in Palmetto Bay, Florida.

      Colonial Palms Plaza, a 188,389-SF, high-performing 

                retail center located in Palmetto Bay, FL

JLL represented the seller, a MetLife Investment Management advised-client. An entity controlled by Orion Real Estate Group and Limestone Asset Management acquired the asset.

 

The JLL Capital Markets team was led by Senior Managing Director Danny Finkle, Senior Directors Eric Williams and Jorge Portela and Vice President Kim Flores

 Danny Finkle

“Large format retail centers along US-1 in Miami are far and few between and highly coveted by the highest quality retailers and restaurants,” said Finkle. “Rarely do these centers trade hands, and as a result, Colonial Palms was highly sought after by the industry’s leading investors.”

 

Institutionally managed by a single owner for nearly 30 years, Colonial Palms Plaza is a 97.3-percent-occupied shopping center leased to an impressive roster of leading national retailers, including Marshalls/HomeGoods, PetSmart, Old Navy, Five Below, Party City and Panera Bread, along with high-profile outparcels, including Visionworks, Millers Ale House and Checkers.

 

Eric Williams

The property receives approximately 2.4 million visits per year, and its tenants have a weighted average tenure of 22.8 years.

 

Situated at 13601 - 13621 S. Dixie Highway, the 15-acre property sits at the southeast corner of US-1 and 136th Street with a high barrier to entry.

 

 Its location allows the center to be visible to approximately 92,800 vehicles per day. Additionally, the property benefits from a population of 101,637 and an average household income of $149,442 within a three-mile radius.

 

Jorge Portela

 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.

 

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: 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

  

https://orionmiami.com

jll.com.

https://orionmiami.com/our-affiliates

 

 

 

 

Hold Thyssen VP Richard Fisher Completes 4th Quarter Sales and Leases Valued at $44.4 Million

 

Richard J. Fisher

 CLEARWATER, FL --  Hold-Thyssen Inc’s Vice President of Investment Services Richard Fisher closed on sales and leases for more than 479,129 square feet, which includes sales of a 4.8-acre multi-family development site and three professional office buildings during the 4^th quarter of 2022.  

 

  Fisher’s transactions, valued at $44.4 Million, included:

 

·       *Sale of a 72,218 square foot multi-tenant office building in Raleigh, N.C. to a private investor.   

·       *Sale of a medical office building in Nashville, TN to a private investor.     

·       *17,514 square feet leased to the State of Florida’s Agency for Health Care Administration plus 3,308 square feet leased to the State of Florida’s Regional Counsel at 15500 Lightwave Drive in Clearwater; 

·       *Sale of a 4.8-acre site (209,088 square feet) on Seminole Blvd. and 21^st Ave. in Largo to a multi-family developer planning 93 affordable housing units; 

Medical office building in Abingdon, Va.

·       *Sale of a 30,000 square foot NET leased medical office building in Abingdon, Va. to an investment fund; 

·       *A lease to SprintCom, LLC for a  26,245 square foot data/telecom center at 360 Lake Destiny Rd. in Orlando; and

·       *A lease to GSA/ FEMA for a 120,756 square foot office facility at 636 Grand Regency in Tampa.

 

   

Hold Thyssen, Inc. based in Winter Park with offices in Clearwater 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 than 100 commercial properties throughout the United States.

.* * *

 CONTACTS

         

Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, Inc. 

813-880-7100 ext303 

rfisher@HoldThyssen.com

 

Beth Payan, Larry Vershel Communications Inc. 

407-461-3781

 beth@larryvershel.com                                        

                                     

 

 

 

JLL closes sale and financing of a seven-property industrial portfolio in the Twin Cities

 

Erin Fitzgerald

MINNEAPOLIS, MN – JLL Capital Markets has closed the sale of and arranged acquisition financing for a seven-property industrial portfolio totaling 376,218 square feet in Roseville, Oakdale and Woodbury, Minnesota. Financials of the deal were not disclosed.

 

JLL marketed the portfolio on behalf of the seller, Link Logistics, procured the buyer, Minneapolis-based Biynah Industrial Partners, and arranged the acquisition financing.

 

Colin Ryan

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Colin Ryan and David Berglund and Senior Director Erin Fitzgerald.

 

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Directors Matthew Schoenfeldt and Scott Loving and Director Lucas Borges.

 

The portfolio is 96% occupied by 18 tenants covering a wide range of industries, including medical technology, manufacturing, building materials, apparel accessories and more.

David Berglund 

This is on par with the market’s total vacancy, which JLL’s Industrial Insights Minneapolis-St. Paul Q3 2022 notes as 4.5%, resulting from the strong tenant demand in the area with 11 million square feet of tenants actively in the market.

 

The buildings offer 17’-20’ clear heights, an average of seven dock doors each, ample car parking and market office finish. The properties include:

 

·       6744 33^rd St. North, Oakdale, MN

·       6866 33^rd St. North, Oakdale, MN

·       Carver Lake, 2280-2310 Ventura Dr., Woodbury, MN

·       Gateway Business Center, 2100-2140 West County Rd. C, Roseville, MN

·       Granada I Business Center, 3350 Granada Ave. N, Oakdale, MN

·       Granada II Business Center, 3400 Granada Ave. N, Oakdale, MN

·       Granada III Business Center 3220 Granada Ave. N, Oakdale, MN

 

Matthew Schoenfeldt

The assets are well located within infill submarkets inside the Interstate 494/694 loop and are within a 20-minute drive of downtown Minneapolis and St. Paul.

 

Tenants of the properties are positioned to reach millions of people in major cities within a few hours’ drive, including Madison (3.5 hours), Milwaukee (4.5 hours) and Chicago (6 hours).

 

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

 

Scott Loving

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

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.

 

About Biynah Industrial Partners

 

Biynah Industrial Partners (BIP) is a Minneapolis based private equity firm that makes direct investments in industrial real estate located throughout the United States.

Lucas Borges

BIP’s primary focus is directly investing in U.S. industrial real estate. The properties BIP acquires are well-located, highly functional, and purchased at a discount to replacement cost. 

 

About JLL

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

 JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit .

 

 

 

 CONTACT

 

Cierra Lacasse

 JLL Associate

Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

 

jll.com

Lee & Associates Hires Evan Scroggs to head new office in Baton Rouge, LA

Evan Scroggs

BATON ROUGE, LA – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announces the opening of a new office in Baton Rouge, LA.

The Lee & Associates Baton Rouge team will be led by Evan Scroggs, CCIM.

Scroggs, formerly a senior advisor with NAI Latter & Blum, brings 13 years of experience in office and industrial sales and leasing and is an active member of the Baton Rouge commercial real estate community.

Currently, he serves on the planning and zoning commission for East Baton Rouge parish and has held leadership roles in the Louisiana CCIM Chapter as president and as a member of the board of directors.

He has served as the president of the GBRAR CID and served on the board for LACDB.

 

Jeffrey Rinkov

“We are excited about the enhanced capability and increased presence our new office in Baton Rouge brings to Lee & Associates,"  said Jeffrey Rinkov, CEO of Lee & Associates.

 

"Evan and his team bring phenomenal market leadership, a strong entrepreneurial spirit, and leading market penetration.

 

 “The first-class support provided by our Houston office will allow us to aggressively recruit seasoned agents in the market who are attracted to our principal/ownership-led structure.”

The Lee & Associates Baton Rouge office will be located at 5555 Hilton Avenue, Suite 330 in Baton Rouge, LA 70808.

 

 

 

 CONTACTS

 

 Pamela Murphy Indihar
Lee & Associates
(832) 315-0219
pmurphy@lee-associates.co

         

 

Evan Scroggs,

escroggs@lee-associates.com.