JLL Capital Markets leads sales efforts for Lyons Technology Center, a six-building industrial park in Coconut Creek, FL

Aaliyah St. Louis

 

 MIAMI, FL –  JLL Capital Markets arranged the sale of Lyons Technology Center, a six-building light industrial portfolio totaling 232,833 square feet in Coconut Creek, Broward County, Florida.

JLL represented Principal Asset Management in the sale to Stockbridge. The price was not disclosed.

 Luis Castillo

The JLL Capital Markets Investment Sales team was led by Managing Director Luis Castillo, Director Cody Brais, Director Wells Waller and Analysts Taylor Osborne and Aaliyah St. Louis.

The light industrial portfolio was built between 2002 and 2004 and is generally located at the northwest intersection of Lyons and Johnson Roads.

 The buildings feature ample clear heights, a combination of rear-load and front-load configurations, shallow bay depths, and 572 parking spaces.

At the time of sale, the buildings were 89.1% leased to 44 tenants across diverse industries.

Cody Brais

Lyons Technology Center is situated less than one mile north from the Lyons Road on-ramp to the Sawgrass Expressway (SR-869), which connects to Florida’s Turnpike, State Rd. 7 and I-95. 

The properties are also located in the City of Coconut Creek within the Broward County market and a 34-minute drive from Fort Lauderdale’s CBD.

The site’s proximity to multiple major highway systems allows users to reach over 5.5 million people in a 60-minute 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. 

Wells Waller

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

For more news, videos and research resources, please visit JLL’s newsroom.

 

About Stockbridge

Stockbridge is a private equity real estate investment management firm led by veteran industry professionals. 

The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-add and opportunistic strategies. Stockbridge and its affiliates have approximately $33.8 billion of assets under management (as of June 30, 2023) spanning all major real estate property types and certain specialty property types throughout the United States. 

Taylor Osborne

 

About Principal Asset Management^SM

With public and private market capabilities across all asset classes, Principal Asset Management^SM and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives.

By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for its clients. Its dedicated real estate investment team manages or sub-advises $97.5 billion in commercial real estate assets.¹ The firm's real estate capabilities include both public and private equity and debt investment alternatives.

Contact

Alli Semans

PR, Hotels & Hospitality,

 Capital Markets

JLL
M +1 330 329 6750

www.stockbridge.

 

 

JLL expands office tenant rep practice in Los Angeles, hires electric vehicle expert

  

Hunter Brown

LOS ANGELES, CA –– Committed to providing premier service to Los Angeles’ diverse tenant base, JLL announced it has hired office leasing expert Hunter Brown as Vice President.  Brown will specialize in representing office tenants in Pasadena, the Tri-Cities and greater Los Angeles.

 

“As the Los Angeles economy continues to become more diverse, we have seen a greater need for guidance from a variety of industries,” said Charlie Smith, JLL Senior Managing Director and Los Angeles Brokerage Lead. 

Charlie P. Smith

“Hunter has the experience and track record in working with companies involved in electric vehicles as well as the overall Pasadena and Tri-Cities markets. His expertise will provide tremendous value to the JLL team.”

 

Brown joins JLL after a successful tenure during the past five years at two national brokerage firms.  Throughout his career, he as represented several companies involved in electric vehicle technology.  Brown earned a bachelor's degree in business marketing at Azusa Pacific University.

 

Contact

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

Tangram Interiors Hosted Grand Opening Event for Sleek New Dallas, TX Showroom

 

Amber Jones

DALLAS, TX ––Tangram Interiors, a curator of highly creative commercial interior environments headquartered in Southern California, celebrated the opening ofits first Dallas Showroom on Sept.7th. 

After years of planning and construction, Tangram Interiors is thrilled to finally open the doors to its new East Quarter home. The grand opening event hosted a wide range of clients, partners, and the DFW community members, as well as Tangram Interior leaders such as… 

Joe Lozowski,

Joe Lozowski, President & CEO 

“I consider this showroom the ultimate hybrid space – it’s visually striking, features cutting-edge technology, and provides multiple work postures to support various styles of work,” said Lozowski. “If an organization’s goal is to attract people back to the office, this showroom is a clear expression of what would be appealing to employees.”

• Nick Greenko, CFO
• Amber Jones, VP of Sales
• Jon Leach, Director of Business Development 

http://

Nick Greenko

“After 18 months of introducing ourselves through PowerPoints and customer installations, we are thrilled to open the doors to our new Dallas showroom!” said Tangram Interiors Vice President of Sales, Amber Jones.

 “I am proud of the way our new space tells the history of the East Quarter, with material and design choices that nod to the automotive industry. We’re excited to be here as this area revitalizes and look forward to sharing our new home with the DFW community.” 

Jon Leach

Tangram is a flagship dealer for Steelcase, Inc., and the leading commercial interior solutions provider in Dallas-Fort Worth, Texas, and Southern California with offices in Los Angeles, Orange, Kern, and Fresno counties. 

To learn more about Tangram Interiors and its wide range of design projects, please contact rachel@kcomm.com.

 To schedule a tour of the new showroom, please reach out to Amber Jones at ajones@tangraminteriors.com. 

 Contact

Rachel Devany

949-443-9300

rachel@kcomm.com

.

West Valley Retail Demand Brings Phoenix’s Agua Fria Plaza to 100% Leased

 

Katie Weeks

PEORIA, AZ, Sept.27, 2023 – On behalf of institutional owner and investor Westwood Financial, Phoenix-based retail brokerage specialist Western Retail Advisors has completed a string of leases that bring the Agua Fria Plaza retail center in Phoenix’s West Valley to 100% leased.

 The center, which is located at the southeast corner of 91^st and Olive avenues in Peoria, sits directly along the Loop 101 Freeway, just north of State Farm Stadium, Desert Diamond Arena and the new VAI Resort, a water-themed development that – when opened in 2024 – will become Arizona’s largest hotel and entertainment destination.

Bryan Ledbetter

Since securing the leasing assignment for Agua Fria Plaza, Western Retail Advisors Senior Vice President Bryan Ledbetter and partner Katie Weeks have completed 13 leases at the project totaling more than 20,000 square feet.

 “Tenants continue to have an almost unfettered demand for high-quality metro Phoenix retail space. Agua Fria Plaza particularly shines with its freeway adjacency and almost direct access to the West Valley’s booming sports, entertainment, resort and residential developments,” said Ledbetter.

Lauren Ball

“Special thanks to David Mitroff and Lauren Ball at Westwood Financial for their institutional-level expertise and for creating an environment where great leases can happen quickly and successfully.”

 According to CoStar, metro Phoenix’s retail vacancy rate has fallen to approximately 5% – a record low that is driven, in part, by booming population growth in the market’s West Valley suburbs.

 David Mitroff 

Agua Fria Plaza is anchored by a newly remodeled Fry’s Food & Drug store. Other tenants include Nationwide Vision, UPS, Foothills Sports Medicine, Wingstop, Subway and McDonalds.

 A just-signed, five-year deal with Beauty Parlour Salon totaling 1,200 square feet brings the project to fully occupied.

Agua Fria Plaza retail center
 in Phoenix’s West Valley
is100% leased.

Based in Los Angeles, Westwood Financial owns, manages and operates over 125 high-quality shopping centers in top metropolitan markets across the U.S. Western Retail Advisors leases eight properties for the company in the Phoenix area.

 Contact

Stacey Hershauer

focusAZ 

 

P 480.600.0195

www.focusaz.com

 

www.w-retail.com.

 

Concord Summit Capital Closes $23.5 Million in Construction Financing for Luxury Condominium Project in Coastal Maine

‘The Mark’, a for-sale condominium development
in Cumberland Foreside, an exclusive neighborhood
near the coast in Cumberland, Maine.

 Cumberland, Maine/Denver, CO) – Concord Summit Capital, LLC (“Concord Summit”) has arranged $23.5 million of total construction financing for

‘The Mark’, a for-sale condominium development in Cumberland Foreside, an exclusive neighborhood near the coast in Cumberland, Maine.

The financing includes a $17.8 million senior construction loan and a $5.7 million mezzanine investment. Concord Summit also sourced a future commitment for $5.5 million of C-PACE funding for the project.

 

Concord Summit Capital’s Managing Director Daniel Eidson, who works out of the company’s Denver office, sourced the financing on behalf of the developer, Mark McClure.

Daniel J. Eidson

“Concord Summit continues to close construction loans in a challenged environment to provide high-leverage financing on projects nationwide,” Eidson said.

 

The Mark features a four-story, 45-unit property with units ranging in size from 620 to 1,327 square feet.

 

Cumberland Foreside is well known for its robust housing market, having experienced 40% year-over-year price increases and an average household income of over $250,000.

 

Cumberland is also consistently ranked as the most desirable place in Maine to live and raise a family. With proximity to Portland, Falmouth, and Yarmouth, Cumberland residents reap the benefits of a gorgeous coastline and a close-knit community while having easy access to Portland and all the benefits a larger city has to offer.

                                                    Mark McClure.

Developer McClure founded Miami-based GenX Capital Partners in 2016. GenX is an advisory and investment firm that has successfully developed, co-developed and rehabbed residential subdivisions of 25 homes or more, multimillion-dollar luxury homes, and high-end boutique hotels.

 

GenX currently has more than $300 million in multifamily, residential and hospitality projects in various stages of development.

 

“We could not have executed this complex senior and mezzanine loan structure without the commitment and sophistication of the development and lending team,” Eidson said.

Cumberland, Maine

“The project was more than 40% complete at closing, and by providing the sponsor with a 92% LTC loan, we were able to finance 100% of the remaining construction costs and repay the existing land loan.

 

"We have also documented a mechanism for a future C-PACE investment to reduce overall borrowing costs.”

 

Construction of The Mark is expected to wrap up by Summer 2024.

 

Contact for Concord Summit:

Todd Templin

ttemplin@boardrooompr.com

 

Matthew Royko Joins Bryan Cave Leighton Paisner Law Firm in Atlanta, GA

 

Matthew Royko

 Atlanta, GA – International law firm Bryan Cave Leighton Paisner (BCLP) announced the addition of new Partner Matthew Royko to the Real Estate Department. He joins BCLP in the Atlanta office.

Matthew focuses his practice on real estate banking and finance matters, specifically the areas of secured and unsecured lending transactions and acquisition financings.

A substantial portion of Mr. Royko's practice involves representing loan servicers in connection with loan assumptions, preferred equity investments and transfers of interest transactions. He has also represented buyers and sellers of commercial properties and raw land.

Andrew Auerbach

“Matt’s addition to our global Real Estate Practice will benefit our clients firmwide,” said US Regional Leader - Commercial Real Estate Andrew Auerbach.

“His broad experience across the full range of real estate financing, will complement our practice nicely. We are very happy to welcome him to BCLP and look forward to the expansion of new and existing relationships.”

Matthew joins from Dentons

CONTACT:

 John Garger

                                         jgarger@rippmedia.com

JLL Capital Markets arranges $43 million construction financing for the 167-unit Elements Apartments in Santa Maria, CA

                              Rendering of Elements Apartments, 

a 167-unit multi-housing community at 3519 Mercury Drive

in Santa Maria, CA to  be completed in January 2024 

 

 LOS ANGELES, CA – JLL Capital Markets has arranged the $42.7 million pre-TCO construction take-out financing for Elements Apartments, a 167-unit multi-housing community located in Santa Maria, California.

 

 Matt Stewart

JLL represented the borrower, The Vernon Group, to secure a senior loan through Limekiln Real Estate Investment Management, LP (MF1 Capital).

 

Construction commenced in Summer 2021, and the six-building project was approximately 80% complete at loan closing, with full CofO expected by January 2024.

 

Located at 3519 Mercury Dr., the property is located at the southeast corner of Auto Park Drive and Mercury Drive, directly off CA-135.

 

The community is adjacent to Santa Maria Airport and is just minutes from Santa Maria Country Club and Waller Park. Nearby retail centers include Acorn Shopping Center, Western Village, Broadway Village, Stowell Center, Santa Maria Town Center and La Brea Plaza.

Alex Olson

Additionally, the city of Santa Maria is approximately one hour north of Santa Barbara.

 

The JLL Capital Markets Debt Advisory team was led by Managing Director Matt Stewart, Director Alex Olson, Director Chad Morgan and Analyst Jacob Michael.

 

“The Vernon Group has solidified itself as one of the premier developers along the central coast of California, and as such, we were able to advise them on a bespoke financing solution that achieved all of their objectives,” said Matt Stewart.

 

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

Chad Morgan

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.

 

CONTACT:

 

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com