JLL Capital Markets closes $29 million sale of the 112,250-square-foot Power Plaza grocery-anchored neighborhood center in Vacaville, CA

 Power Plaza, a 112,250-square-foot,
 grocery-anchored, neighborhood
retail center located in Vacaville, CA

SAN FRANCISCO, CA – JLL Capital Markets has closed the $29.175 million sale of Power Plaza, a 112,250-square-foot, grocery-anchored, neighborhood retail center located in Vacaville, California.

Eric Kathrein

JLL represented the seller, ProEquity Asset Management. After a highly competitive bidding process with several offers, the asset was awarded to DPI Retail.

 

The JLL Retail Capital Markets team was led by Managing Director Eric Kathrein, Directors Tim Kuruzar and Warren McClean and Analyst Andy Spangenberg.

Tim Kuruzar

Built in 1993 and 1994, the 96-percent-occupied center is anchored by Sprouts and leased to a majority of national and credit tenants, including Restoration Hardware Outlet and Williams Sonoma Home Outlet. Pacific Dental Services.

 

 The Good Feet Store and Banfield Pet Hospital recently entered new leases. Additionally, the property features a WALT of 6.5 years.

 

Warren McClean 

Power Plaza is located at 1001-1071 Helen Power Drive at the intersection of Nut Tree Parkway and Helen Power Drive. The property is centrally located within the regionally-drawing Vacaville retail corridor and boasts excellent visibility along Interstate 80, which sees more than 175,000 vehicles per day.

Within a 15-minute drive is a population of 177,440, a household income of $106,888 and a spending power of over $6.2 billion.

 

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

 

Andy Spangenberg

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

Native Realty Closes Leases with Several Name Tenants at Fort Lauderdale’s Motif mixed-use project

  

 Kaley Tuning

FORT LAUDERDALE, FL –– Native Realty completed numerous restaurant and retail leases at Motif, the 385-unit mixed-use apartment building in Fort Lauderdale’s Flagler Village.

 

Firm CEO Jaime Sturgis and COO Kaley Tuning brokered the new deals on behalf of Motif’s owner.

 

The new tenants coming to the 500 N. Andrews Ave. building include D51 Holdings, LLC, which plans to open fine-casual neighborhood restaurant and bar Olivia in a 2,912-square-foot space.

Serving Southern Italian and American cuisine, Olivia will be a high-energy venue with live music, DJ’s, an indoor/outdoor bar, spacious patio, curated wine list and craft cocktails. 

 

Other tenants coming to Motif include:

·       BFT Fitness, a community-based, 50-minute functional training and strength-based program that was founded in 2017 in Melbourne, Australia. BFT leased 3,432 square feet at the building

Salon Lofts, which helps beauty specialists reach their goals through marketing tools, cutting-edge scheduling technology, education programs and business coaching. It leased 6,449 square feet at Motif

·       Dog Drop, a membership-based modern retail experience offering high-quality pet care and well-designed and tech-enabled locations. It is occupying 2,532 square feet

Native exclusively handles retail and restaurant leasing at Motif, which has 23,000 square feet of ground-floor retail and restaurant space and is over 97% occupied with apartment residents.

 

Sturgis and Tuning have successfully leased the building’s entire retail and restaurant inventory.

 

Mitch’s Downtown Bagel Café, a local favorite, opened on Motif’s ground floor in 2021.

Jaime Sturgis

“Motif is a case study for how Native Realty approaches tenant curation from a holistic perspective,” Sturgis said. 

“We were extremely thoughtful about what food-and-beverage and retail concepts fit best within the surrounding neighborhood, as Motif spans a pivotal block in Flagler Village. 

"These complementary tenants will thrive in these well-designed, highly visible spaces in the building.”

 

Native operates from a Fort Lauderdale office at 1926 E. Sunrise Blvd. in the city’s Victoria Park neighborhood.

 

CONTACTS: 

 

Eric Kalis

954-370-8999

ekalis@boardroompr.com

  

Max Brodsky

Account Coordinator,

BoardroomPR

mbrodsky@boardroompr.com

O 954-370-8999

C 954-279-7574

 

www.nativerealty.com. 

 

 

 

 

JLL Capital Markets closes 13 million sale of the 47,723-square-foot Mariano’s in Northfield, IL

  

CHICAGO, IL – JLL Capital Markets has closed the $13.1 million sale of a 47,732-sqaure-foot, triple-net leased Mariano’s located within the Chicago MSA in Northfield, Illinois.

Caity Tirakian

JLL represented the Stockbridge (seller) and Swanson Development Group (buyer) in this transaction.

 Mariano’s is a regional supermarket chain with 44 locations throughout Illinois. In 2015, the chain was acquired by retail conglomerate Kroger via Mariano’s parent company Roundy’s.

 

Alex Sharrin

This Mariano’s has been in operation since 2013 and currently operates on a NNN lease structure with multiple renewal options.

 

Situated at 1822 Willow Rd., the property is located within the desirable North Shore region of Chicago’s metropolitan area and is just 19 miles from downtown Chicago.

 

Within five miles of the property is a population of 234,000, a household income of $195,000 and a buying power of $17.5 billion.

Michael Nieder

The property has exposure to the to 30,400 vehicles per day on Willow Rd. and sits just off the heavily trafficked I-90.

 

The JLL Capital Markets team was led by Senior Managing Director Alex Sharrin, Senior Director Michael Nieder, Director Mohsin Mirza and Analysts Charles Shehan and Caity Tirakian.

 

“JLL continues to see strong demand for well-located, single-tenant grocery assets,” said Sharrin. “The short-term Mariano’s in Northfield will provide future ownership potential upside in rents, underpinned by quality North Shore Chicago real estate and a fungible box with ample parking.”  

Mohsin Mirza 

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.

Charles Shehan 

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    

       

 

JLL lease for almost 79,000 SF regional office brings Camelback Arboleda to 95% leased

 

Camelback Arboleda is a 178,792-square-foot,
 four-story Class A office building located at
 1661 East  Camelback Road, Phoenix, AZ

 PHOENIX, AZ – Leading engineering, planning and design firm Kimley-Horn has committed to a 78,668-square-foot lease at Camelback Arboleda.

Diana Zavislak

The lease relocates and expands Kimley-Horn’s regional Phoenix office to the Camelback Corridor submarket and brings the Camelback Arboleda Class A office project to 95% leased.

 Chris Latvaaho

JLL Vice President Chris Latvaaho and Senior Associate Chris Beall from the Phoenix Office of JLL represented the building’s landlord, California-based Fenway Capital Advisors.

 

 Charles Daggett, Jeff Eisenhart, Matthew Cortez and Diana Zavislak from Savills represented Kimley-Horn.

 

“We’re excited to welcome Kimley-Horn to Camelback Arboleda,” said Fenway Capital Advisors Managing Partner Larry Jackel.

 

“They are relocating their Phoenix office only a short distance, but they’re gaining exponential amenities – from Camelback Arboleda’s newly renovated building and workspaces to its innumerable walkable amenities. 

Chris Beall 

Camelback Arboleda was created for this type of tenant, and its rewarding to see that intention come to fruition with Kimley-Horn.”

 

Camelback Arboleda is a 178,792-square-foot, four-story Class A office building located at 1661 E. Camelback Rd., just north of Highland Avenue and immediately west of Arizona State Route 51/Piestewa Freeway.

 

It features newly renovated common areas and restrooms, new outdoor tenant spaces, courtyard and atrium, and private balconies. 

 Charles Daggett

Tenants enjoy prominent building signage and exposure to Camelback Road, and direct access to State Route 51.

 

“Projects like Camelback Arboleda are thriving in Phoenix, even in light of uncertain economic fundamentals,” said Latvaaho.

 

“This building has a prime urban location, surrounded by some of the Valley’s hottest amenities and a strong labor pool.

 

"It also has been institutionally managed, ensuring it can offer the kind of modern workspaces and beautiful shared common areas that most tenants today require.”

Jeff Eisenhart

Camelback Arboleda is surrounded by more than 2 million square feet of retail and restaurant amenities within well-known destinations like Camelback Retail Center, Camelback Marketplace, Camelback Colonnade and Town & Country Shopping Center. 

It is also one mile from the landmark Biltmore Fashion Park.

 

Kimley-Horn will relocate from The Summit, which sits approximately three miles north of Camelback Arboleda at 7740 N. 16^th Street.

Matthew Cortez

The Raleigh, North Carolina-based company employs almost 7,000 in more than 100 U.S. offices. Four of those offices are located in Arizona: Mesa, Phoenix, Prescott and Tucson.

 

Kimley-Horn’s move-in at Camelback Arboleda is expected by first quarter 2024.

 

Other tenants in Camelback Arboleda include Power Engineers, Forestar Real Estate and Aramark.

Larry Jackel

 CONTACT

 

Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.com