JLL arranges $28 million sale and financing of Pacific Northwest seniors housing community in Vancouver, Washington

Van Mall Retirement, a 191-unit senior living community
 located in the Portland, OR, suburb of Vancouver, Washington.

BOSTON, MA –  JLL Capital Markets has arranged the $28 million sale of Van Mall Retirement, a 191-unit senior living community located in the Portland, Oregon, suburb of Vancouver, Washington.

Jay Wagner

JLL represented the seller, Lytle Enterprises, and procured the buyer, a regional Pacific Northwest owner and operator. In addition, JLL procured acquisition financing from a regional bank on behalf of the buyer.

 

The JLL Capital Markets team was led by Senior Managing Directors Jay Wagner, Rick Swartz and Aaron Rosenzweig, Senior Director Alanna Ellis, and Directors Dan Baker and Dean Ferris.

 

Van Mall is located at 7808 NE 51^st St., adjacent to the Vancouver Mall and approximately 10 minutes from Downtown Vancouver and Portland International Airport. 

Rick Swartz

Additionally, the property is conveniently located close to Interstate 205, State Route 500 and Interstate 5, providing access to the greater Vancouver and Portland area.

 

Originally constructed in 1989 and expanded in 1994, Van Mall offers both independent and assisted living units available in one- and two-bedroom layouts. All of the units are pet-friendly, and residents have access to an on-site theater, salon and barbershop, fitness center, activity and games room, arts and crafts studio, library and bistro.

 

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

Alanna Ellis

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.

Aaron Rosenzweig, 

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 Lytle Enterprises

 

With a long history of leadership and having been at the forefront of the senior housing industry for over four decades, Lytle Enterprises is well-respected in the senior housing industry.

 

Continuing to explore ways to improve the lives of their residents is a cornerstone of Lytle Enterprises. The company’s innovation led the way in the introduction of hotel-style design and amenities, health and wellness programs, travel and concierge services, restaurant-style dining, and other senior-focused services that are commonplace throughout the industry today.

 Dan Baker 

Lytle Enterprises helped define the best in senior living and continues to influence the design and operation of retirement communities. The company is committed to the highest standards for its residents, partners, and investors.

 

About JLL

 

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties.

 

 A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise.

 

Dean Ferris.

Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM.

 

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated..

 

Contact:

 

 Kristen Murphy,

 Director, Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@jll.com

 jll.com

  

JLL Capital Markets led the sales efforts for the Class A Churchill Tower located in Park Central, Dallas, TX

  

 Megan Babovec 

 DALLAS, TX –  JLL Capital Markets has completed the sale of Churchill Tower, a Class A office tower totaling 277,187 square feet in Dallas, Texas. The price was not disclosed.

 

JLL represented the seller, and procured the buyer, TXRE Properties.

Todd Savage

Churchill Tower is located at 12400 Coit Rd., at one of the most trafficked locations in the DFW Metroplex, the intersection of U.S. Highway 75 and Interstate 635.

Ben Esterer

 This location provides connectivity to downtown Dallas, Dallas Love Field Airport, DFW International Airport and the surrounding communities of Highland Park, Prestonwood, Frisco and Plano.

Andrew Griffin

Completed in 1999, Churchill Tower is the newest office building by approximately 12 years in the Park Central submarket of Dallas.

Churchill Tower is located at 12400 Coit Road,
 at one of the most trafficked locations
in the Park Central submarket of Dallas, TX

 The 12-story office tower was recently renovated and boasts on-site amenities, including a café, fitness center and conference room. At 73% leased, the property has a diversified rent roll and includes tenants: Carr Riggs and Ingram, Level Four Advisory Services, Borden and Relation.

 

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Todd Savage, Director Ben Esterer, Associate Megan Babovec and Analyst Andrew Griffin.

 

TXRE Properties Justin Smith and Kolby Dickerson represented themselves in the acquisition.

Justin Smith 

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.

Kolby Dickerson

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. 

 

CONTACT:

 

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

617-543-4873

 

GPI Companies completes development of new 114,000 sf, Nine-story building for University of California, San Diego

Villa La Jolla Drive, a new 9-story,
 114,000-square-foot state-of-the-art
academic facility in San Diego, CA.

SAN DIEGO, CA – GPI Companies, in partnership with University of California, San Diego, has completed development of 8980 Villa La Jolla Drive, a new 9-story, 114,000-square-foot state-of-the-art academic facility prominently located at the corner of La Jolla Village Drive and Villa La Jolla Drive in San Diego, California.

 

The new building is directly across from the University and serves as a gateway to the main campus. It includes academic, administrative, and research space and will be a hub for students, faculty, and patients and the home for various programs offered by UC San Diego Health Sciences and UC San Diego Division of Extended Studies.

Designed by Gensler’s San Diego office and built by Swinerton Builders as the general contractor, the new building is managed by JLL.

The 8980 building achieved LEED silver status and features dynamic contemporary architecture, abundant indoor-outdoor space on all levels, high ceilings, and large windows to bring in natural light. 

 It also provides ample dedicated parking. The ground floor of the building will be home to Bird Rock Coffee Roasters, one of San Diego’s most popular cafes. 

AJ Taylor

“This exciting project was made possible through an innovative public-private partnership between GPI Companies and UC San Diego,” said AJ Taylor, Director at GPI Companies.  “Despite a challenging construction climate, our collaboration with UC San Diego improved efficiency, reduced costs, and drove schedules.”

Lee Wagman, Managing Partner at GPI, added that “the entire team that was engaged in this project delivered extraordinary results, and we are immensely proud to have developed this exquisite building. The project is a great addition to this world-class University.”

8980 Villa La Jolla Drive completes GPI’s expansion and renovation of its five-building seven-acre campus which was recently renamed the” La Jolla Wellness Center.”

Lee Wagman

 The property is conveniently located just west of the I-5 Freeway and close to the UTC Transit Station, and it is connected by bridge to the University.

 

 The entire University City area has become renowned as the home to many bio and life science companies, new housing, and outstanding retail and restaurants.

 

The building is also situated in close proximity to Scripps Memorial Hospital, Birch Aquarium, the UTC Mall, Torrey Pines, , and the Salk Institute..

 

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.”

LEE & ASSOCIATES CHARLOTTE TRANSITIONS FROM A SATELLITE OFFICE TO A FREESTANDING OFFICE

From left:  Greg Pieratt, Jack McDermott, Liss Kipp, Phillip Mugrage, Tess Powell, Matt Frazee, Khaliid Scott, Esteban Valverde, Travis Wood, Frank Gyorody, Alyssa Ivy, Huck Broyles, and Nick Lancetti; Not Pictured: Eric Powers

 

CHARLOTTE, NC – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announced their Charlotte, NC office has transitioned from a satellite office to a freestanding office, granting them access to Lee & Associates unique capital structure benefits. 

Greg Pieratt

Lee & Associates Charlotte is led by Greg Pieratt, SIOR, who serves as president. Since the satellite office opened in March of this year, the office has executed an aggressive growth strategy. 

"I am incredibly proud of our rapid progress. In just four months, we have grown from a one-person satellite office to a 15-person, fully functioning brokerage firm.

"We have successfully established a healthy and vibrant office culture, which was one of our key goals. The swift growth of the Lee & Associates Charlotte office highlights the strong demand for our broker-owned platform, the excellent brand awareness from our neighboring Lee & Associates offices, and the hard work and collaboration of many individuals,” said Pieratt.

 

Jeffrey Rinkov

"Our expansion into the Charlotte market is a great example of the importance and emphasis we place on the Southeast region. While Charlotte is a large, dynamic, and opportunity-filled market, I am truly enthusiastic and excited about our leadership and the large founding group," said Lee & Associates CEO, Jeffrey Rinkov, SIOR.

Lee & Associates has established an emphasis on expansion. New office locations in the last five years include Tampa Bay, FL; Lafayette, LA; Lincoln, NE; Western Pennsylvania; Central California; Kansas City, KS; Baton Rouge, LA; Calgary, AB; Nashville, TN; Los Angeles – Downtown, CA; San Francisco, CA; Omaha, NE; Naples, FL; Washington, DC; Boston, MA; and Toronto, ON.

Contact:

 

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

 

Advanced pharmaceutical facility in Raleigh-Durhams, NC sells

 

 Sarah Holloway

 RALEIGH, NC, July 19, 2024 – JLL Capital Markets brokered the sale of 4018 Stirrup Creek, a 95,620-square-foot, state-of-the-art contract development and manufacturing facility located in Raleigh-Durham, North Carolina.

Ryan Clutter

JLL represented the seller, Stirrup Creek LLC. A joint venture between South Duvall and Alidade Capital acquired the property.

 

Built in 2017, the fully leased facility serves as the headquarters and primary manufacturing site for MedPharm, a leading contract development and manufacturing organization (CDMO) in topical drug delivery systems.

 

Strategically located adjacent to Research Triangle Park, the geographic epicenter of North Carolina’s life sciences industry, the facility is proximate to a highly educated workforce, executive housing and major life science companies.

Daniel Flynn

Its proximity to Interstate 40 and 540 ensures easy access throughout the Triangle region and is only 10 minutes from Raleigh-Durham International Airport. The location also offers convenient access to dining, shopping and entertainment options such as The Hub RTP.

 

CJ Liuzzo

The JLL Capital Markets team representing the seller included Senior Managing Director Ryan Clutter, Senior Director Daniel Flynn, Director CJ Liuzzo, Associate Sarah Holloway and Analyst Chris Walker.

 

JLL Capital Markets team of Senior Managing Director Jim Meisel, Senior Director Dave Baker and Analyst Chetan Dokku arranged the joint venture between South Duvall and Alidade Capital.

 

Chris Walker

According to JLL’s 2023 Life Sciences Industry and Perspective Report, Raleigh-Durham ranked in the top five life science clusters in the United States. The market is strengthened by its leading presence within the biomanufacturing sector, critical mass of skilled workers and contributions from three tier-one universities, resulting in a robust innovation ecosystem appealing to startups and mature companies alike.  

Jim Meisel

“The life science investment landscape has changed dramatically over the past 18 months however, 4018 Stirrup Creek provided a unique opportunity to acquire a state-of-the-art CDMO facility with stable, long-term cash flow to a reputable tenant,” said Flynn.

“Raleigh-Durham remains a #1 target for investors and tenants focused on biomanufacturing, “tough tech” uses and other transformative technology with access to a unique highly trained workforce.”

 

Dave Baker

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.

Chetan Dokku 

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

 

 Contact:

Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com