Reliable Properties acquires four-acre Barnsdall Square Shopping Center in Los Angeles, CA

Barnsdall Square, a highly sought-after
 grocery/drug anchored retail center
 in Los Feliz, one of Los Angeles's
 premier neighborhoods. 

LOS ANGELES, CA – JLL Capital Markets brokered the sale of Barnsdall Square, a highly sought-after grocery/drug anchored retail center in Los Feliz, one of Los Angeles's premier neighborhoods. The price was not disclosed.

Jeff Adkison 

The transaction includes the acquisition of the 2.86-acre parcel on 1625 N Vermont Ave. and a partial interest in the 1.39-acre parcel on 1533 N Vermont Ave.

 JLL represented the seller DMDE Properties, and Reliable Properties acquired the property.

The JLL Retail Capital Markets team was led by Managing Directors Jeff Adkison and Bryan Ley alongside Senior Directors Rob McRitchie and Brendan McArthur.

Bryan Ley

Spanning over 6.3 acres, Barnsdall Square features a total of 92,000 square feet of leasable space, boasting a diverse tenant mix, including Jons Marketplace Grocery Store, Rite Aid Pharmacy and 22 other tenants.

 The property also provides a blank canvas for a value-add retail strategy or future redevelopment.

 

Strategically located along N. Vermont, Barnsdall Square enjoys excellent visibility and offers seamless connectivity to Hollywood Blvd. and Sunset Blvd along with convenient access to multiple nearby bus stops. 

The property is near major medical centers such as Kaiser Permanente Center, Hollywood Presbyterian Medical Center and the Children's Hospital Los Angeles. Additionally, set in the highly desirable neighborhood of Los Feliz, the center benefits from a strong demographic profile and unrivaled market appeal.

 

Brad Nourafshan

Reliable Properties had assembled the remaining portions of Barnsdall Square in multiple off-market transactions over the past year. Brad Nourafshan led Reliable Properties’ efforts in successfully assembling the Barnsdall Square Shopping Center from three different owners.

“The Barnsdall Square Shopping Center is a one-of-a-kind asset located in Los Feliz with great potential and we are happy to have worked with JLL to acquire the last portion of the shopping center,” said Brad Nourafshan. “JLL was an absolute pleasure to work with and are also very experienced in handling complicated transactions.”

 

"In a retail market that is witnessing a scarcity of quality spaces, Los Feliz stands out as one of the most sought-after destinations in Los Angeles. The sale of Barnsdall Square attests to the increasing demand for high-quality retail assets in this thriving neighborhood," said Adkison.

 

“Barnsdall Square has a long history of serving the needs of the local community and the region. The sale marks a new beginning for the asset and we look forward to seeing the future growth of the asset,” said Ley.

 

Reliable Properties’ plans for the 6.3 Acre Barnsdall Square Shopping Center are unknown at this time. Please contact Brad@reliableprop.com with any inquiries.

 

Aperture Hotels Names Patrick Short Chief Operating Officer

Patrick Short

 

 ATLANTA, GA —Officials of Aperture Hotels, a leading hospitality management provider specializing in premium lifestyle, compact full-service, and select-service hotels, announced Patrick Short has been named chief operating operator. 

 

 In his new role, Short will provide cross-disciplinary leadership and direct operational execution and commercial strategy for Aperture's expanding portfolio of 27 managed hotels.

Charles Oswald

“With more than thirty years of hospitality operations experience, Patrick is the perfect fit for Aperture’s growing portfolio to continue improving operations performance metrics across the board," said Charles Oswald, president and CEO, Aperture Hotels. 

 "From Wischermann Partners and TPG Hotels, Resorts & Marinas to Peachtree Group Hospitality Management, Patrick has helped scale operations at some of the most well-respected management companies in the hospitality industry.”

Prior to joining Aperture, Short was president of Peachtree Hospitality Management, where he led the company to rank among the top 15 largest hotel management firms in the U.S., expanding the portfolio from 27 to 100 hotels and more than 10,000 rooms with almost 3,000 team members.

 

Short received a degree in Hospitality and Tourism Management from The University of Wisconsin-Stout and an MBA in Finance from Argosy University – Twin Cities. He is a Certified Hotel Administrator (CHA) from the American Hotel and Motel Association and holds a Food Safety Certification.

 

 

CONTACT:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.c

 

SpringHill Suites Jacksonville Beach Oceanfront Names Samantha Pritchard Director of Sales

  

Samantha Pritchard 

 JACKSONVILLE, FL, Aug. 12, 2024 —Key International, a globally recognized real estate investment and development company, and Shaner Hotels, an award winning, international hotel owner, operator and developer, today announced Samantha Pritchard has been named director of sales of the new 156-suite SpringHill Suites by Marriott Jacksonville Beach Oceanfront.

  

Michael Weihs

Pritchard joins Michael Weihs, who joined Shaner as general manager last fall. 

“Jacksonville Beach is booming, and the new SpringHill Suites Jacksonville Beach Oceanfront is well positioned to serve both the discerning business traveler and leisure guest,” Weihs said. 

 

Pritchard joined Shaner Hotels as the dual director of sales for the Courtyard by Marriott Jacksonville Beach Oceanfront and the Fairfield Inn Jacksonville Beach in Spring 2023 before assuming her promotion to area director of sales in January 2024.

 

Her background is in hotel renovations and new construction—leading the efforts as director of sales of the Residence Inn Jacksonville, where she led the pre-opening sales efforts for the first extended-stay hotel in the Brooklyn Riverside market.

SpringHill Suites by Marriott Jacksonville Beach Oceanfront.

Situated oceanfront at 465 North First Street, the hotel is convenient to the area’s top attractions and businesses, including the Jacksonville Beach Pier, Sea Walk Pavilion, the PGA Tour at Sawgrass, Mayo Clinic, St. John’s Town Center, EverBank Stadium, University of North Florida and multiple area golf courses.

 

With more than 25 years of hospitality management experience, Weihs has held general manager positions in several markets in Florida, including Tampa, Orlando, Stuart/Hutchinson Island and St. Augustine.

 

CONTACT:

 

Chris Daly

 (703) 864-555

chris@dalygray.com

 

 

Florida East Coast Realty brokers 13,000 SF of office space to new tenants at 1101 Brickell in downtown Miami, FL

Ana Paula

MIAMI, FL –  – Florida East Coast Realty (FECR) announced five new leases at its 1101 Brickell office property, totaling approximately 13,000 square feet. New tenants include:

 Moroccan Consulate: 6,525 square feet, represented by Shary Thur of Thur Retail.

• United Parks and Resorts: 3,139 square feet, represented by Sam Singer of Vertical Real Estate.
• American English Academy: 1,785 square feet, represented by Natalia Betancur of Casa Florida Group.
• Thrive Capital: 1,065 square feet, represented by Adam Bernstein of JLL.
• World Trade Corporation: 738 square feet, represented by Alex Joch of Realty Hub.

Kevin Gonzalez

 FECR is now offering contiguous blocks of available space, from 1,000 to 39,000 square feet.

 

"1101 Brickell stands out as a premier business address, providing unique access to international markets and a prestigious setting in Downtown Miami,” said FECR COO Austin Hollo. “Our location is designed to enhance the professional image of our tenants and support their global business activities."

 

Ana Paula, Kevin Gonzalez, and Jake Freeman of Colliers direct commercial/office leasing activity for the 300,000 square foot, twin tower project.

 

Jake Freeman

“With its dynamic and vibrant atmosphere, 1101 Brickell is perfect for businesses aiming to attract top talent and take advantage of all the amenities that Brickell offers," said Paula, Vice President at Colliers. "We continue to see strong demand from companies of all sizes. This is an ideal choice for those looking to be in the heart of one of Miami's most lively neighborhoods”.

 

For more information on leasing at 1101 Brickell, please contact Ana Paula at 305.297.4684 or ana.paula@colliers.com and Jake Freeman at 631.745.2964 or jake.freeman@colliers.com.

CONTACT:

Angelic Bringas
Account Executive
abringas@boardroompr.com
C 786-202-5773
O 954-370-8999
Web | Facebook | Instagram | LinkedIn

Crossman Career Builders Announces Winner of its 2024-2025 UCF Endowed Real Estate Scholarship

 Manuela Fonseca

 

ORLANDO, FL --- Manuela Fonseca,  a senior at the University of Central Florida (UCF), is the recipient of the university’s Crossman Career Builders Endowed Real Estate Scholarship for 2024-2025. 

 

Fonseca – fluent in Spanish and English – began her career journey with obtaining her Real Estate Sales Associate license in early 2021. While an associate with Colony Group / Keyes Realty she earned her broker’s (NAR REALTOR®) license in June 2022. 

 

She was a land acquisition intern at PulteGroup for the summer of 2023, and in August of last year received an apprentice membership in ICSC the global trade association for the shopping center industry. 

 

Fonseca – who says she has a passion for commercial real estate and investment sales – is interning this summer under the top-performing industrial team at CBRE.  

 

She will receive a Bachelor’s of Science Degree in Business Administration/Finance & Real Estate in May 2025.

 John Crossman

“We are delighted to provide this resource to outstanding students,” One of the best ways to improve and diversify the real estate industry is to encourage the participation of the best of the next generation,” says John Crossman, Chief Executive Officer, Crossman Career Builders.

  

In addition to UCF, Crossman Career Builders also has endowed scholarships at FSU, FAMU, JSU, B-CU and Valencia College

CONTACTS:

 

John Crossman, CCIM, CRX Chief Executive Officer, Crossman Career Builders, 1011 N. Wymore Rd; Winter Park, FL 32789;

407-794-9393

  jcrossman@crossmancb.com

 

Beth Payan, Larry Vershel Communications,

407 461-3781 

beth@larryvershel.com

 

 

Silverado Ranch Plaza taps Vestar for Property Management Services in Las Vegas, NV

 

Silverado Ranch Plaza is a 393,419 square foot
power center owned by The Seligman Group.

LAS VEGAS, NV - Vestar, one of the leading privately held shopping center owners and managers in the United States, has been engaged to provide management services for Silverado Ranch Plaza in Las Vegas, Nevada.

 

The Phoenix-based company offers its full suite of management services, including leasing, property management, and construction management.

 

Silverado Ranch Plaza is a 393,419 square foot power center owned by The Seligman Group.

 

Located at 9701 S Eastern Ave in Las Vegas, Nevada, Silverado Ranch Plaza occupies a prime location adjacent to Henderson in the rapidly growing area outside of the Las Vegas strip.

 

The center is nearing full occupancy with a tenant roster that includes national brands such as Target, Nike, Marshalls, ULTA Beauty, Michael’s, PetSmart, and Five Below. Vestar will work with Henderson, NV-based Dunbar Commercial Associates on leasing efforts for the retail center.

 

“We’re excited to be chosen as the management services provider for Silverado Ranch Plaza and to grow our footprint in the Las Vegas market,” said Patrick McGinley, President of Management Services at Vestar.

 

 “With Silverado being our fourth project in the valley, we look forward to collaborating with The Seligman Group to enhance the property's value with our expertise in management and leasing services.”

Patrick McGinley

Silverado Ranch Plaza joins Vestar's extensive management portfolio, which encompasses nearly 30 million square feet of retail space across the western United States, including over 1.8 million square feet in the greater Las Vegas market.

 

With over three decades of experience, Vestar has consistently made significant, long-term contributions to each property under its management.

 

This includes renowned shopping centers including The District at Green Valley Ranch, in Henderson, NV, The Gateway in Utah, The District at Tustin Legacy in California, The Orchard Town Center in Colorado, and prominent Phoenix metro retail destinations such as Desert Ridge Marketplace and Tempe Marketplace, among others.

 

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.”

 

www.vestar.com.

 

$50 million refinancing secured for Class A multi-housing property in the Wilmington, NC MSA

 

 Harrington Square apartments, a Class A mixed-use
apartment complex located in Leland, NC

LOS ANGELES, CA – JLL Capital Markets has secured a $50 million bridge loan for the refinancing of Harrington Square apartments, a Class A mixed-use apartment complex located in Leland, North Carolina, within the Wilmington MSA.

 

JLL worked on behalf Latitude Management Real Estate Holdings to secure the four-year, floating-rate bridge loan from Bridge Investment Group Holdings Inc.

Jalynn Borders

The Harrington Square apartments feature a 14-building complex with 349 units, developed in two phases. The first phase, completed in 2018, includes a 11,375 square foot retail component and 189 apartment units, while the second phase, finished in 2020, added an additional 144 units. Since acquiring the property in May 2021, Latitude added an additional 16 units, bringing the total unit count to 349.

Brian Halpern

With a variety of studio, one-, two- and three-bedroom apartments, the units at Harrington Square offer an average size of 1,154 square feet. 

Residents enjoy a wide range of amenities, including a resort-style pool, a veranda with TVs and lounge area, a 24-hour fitness/yoga studio, a dog park, pet wash stations, on-site laundry facilities, a media room with billiards and gaming, valet trash services, package locker room and a Starbucks Barista station. 

Conveniently located along Harrington Road, the property also offers easy access to both the attractions of Wilmington and the beaches of Brunswick County in North Carolina.

 

The JLL Capital Markets Debt Advisory team was led by Managing Director Brian Halpern, Senior Managing Director Jeff Sause, Director Ward Smith, Vice President Jason Rosin and Associate Jalynn Borders.

Jeff Sause

“We are proud to have facilitated the loan for this luxury apartment complex,” said Smith. “The refinancing will provide stability and further enhance the property’s value, reinforcing its role as a premier residential destination in the Wilmington market.”

 

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.

 

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

 

About Latitude Management Real Estate Holdings

Latitude is a private real estate fund manager specializing in multifamily investments that has successfully closed over $4 billion in transactions across all primary commercial real estate property types over the past 20 years.

 

About Bridge Investment Holdings Inc.

Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $48.0 billion of assets under management as of March 31, 2024. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select verticals across real estate, credit, renewable energy, and secondaries strategies.

 

Contact: 

Grace Lewis, JLL PR

Phone: +1 903 520 3478

Email: grace.lewis@jll.com

  jll.com.