Done Deals

Friday, August 30, 2024

DXD Capital completes development of new 103,964-SF self storage facility in Kapolei, Hawaii

New, Class A self storage facility

at 91551 Kapolei Kai Street

in Kapolei, HI

KAPOLEI, HI, Aug. 30, 2024—DXD Capital, a private equity investor and self storage developer, announced the opening of a brand new, Class A storage facility in Kapolei, HI in partnership with InSite Self Storage. Financial details were not disclosed.

The facility, located at 91551 Kapolei Kai Street, offers 1,079 individual storage units totaling 103,964 net rentable square feet. This multi-story, 100% climate-controlled facility is a rare offering in this market.

SecureSpace will manage this facility. PB Brown was the general contractor and delivered the project ahead of schedule.

The property was acquired in November 2021. To date, DXD has invested in nineteen self storage developments and one seven-facility portfolio acquisition across the United States.

Drew Dolan

“Kapolei was one of the first sites we identified for DXDs first closed-end fund, but fast forward, it is one of three ground-up self storage developments we have in Hawaii," said Drew Dolan, Principal and Fund Manager. "InSite has been a great partner, and we are excited to see them nail the lease-up with SecureSpace management.”

DXD Capital is a data-driven real estate private equity company focused solely on the self storage sector. DXD utilizes proprietary tools to access data and source compelling investments for its investors.

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.dxd.capital .

JLL Capital Markets leads sales efforts for the newly delivered Dove Valley Logistics Center II warehouse in Englewood, C0

f Dove Valley Logistics Centre II,
a 304,620-SF Class Awarehouse
in Englewood, CO

DENVER, CO –  JLL Capital Markets brokered the sale of Dove Valley Logistics Centre II, a 304,620-square-foot Class A warehouse in Englewood, Colorado. The price was not disclosed.

Sean Devaney

JLL worked on behalf of the seller, BlueScope Properties Group, in the sale to LBA Realty.

The JLL Investment Sales and Advisory team was led by Senior Managing Director Sean Devaney and Director Rob Key.

“The sale of Dove Valley Logistics Center II underscores the strong investor demand for industrial product in Denver's Southeast submarket,” said Key. “With its strategic location providing connectivity to the entire Denver metropolitan area, particularly South Denver and the growing population along the I-25 corridor, it comes as no surprise that this submarket continues to attract institutional capital.”

Matt Roth

The cross-dock warehouse built in 2023 boasts best-in-class features, including 89 dock high doors, 36-foot clear height, 60-foot column spacing, and ESFR sprinklers.

Additionally, the property has 6,700 square feet of office space, complete with an employee break area, wellness room, conference room and security station. The property is 100% leased to a leading e-commerce giant.

Located at 7800 S Fairplay St. in Denver’s Southeast submarket, the property provides excellent access to both I-25 and E-470 and resides within close proximity of the highest concentration of executive housing in the entire Denver metro area.

Rob Key

“This was our second development and sale in the Southeast Denver market, and JLL came through again with delivering a fantastic tenant and running a first-in-class sales process,” said Matt Roth, President of BlueScope Properties Group.

“LBA’s approach to due diligence and purchase process was completely professional and seamless, and I congratulate LBA on acquiring this Class A facility.”

Contact:

Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

BlueScopePropertiesGroup.com

Thursday, August 29, 2024

JLL assists Namdar Group in $152 million senior and mezzanine financing in the bustling Journal Square hub in Jersey City, NJ

35 Cottage Street, a 588-unit luxury
apartment building to-be-built
in Jersey City, NJ

MORRISTOWN, N.J., Aug. 29, 2024 –  JLL Capital Markets has secured $152 million in construction financing for the development of 35 Cottage Street, a 588-unit luxury apartment building to-be-built in Jersey City, to include a CHABAD Synagogue, Pre-School and the first dedicated party hall in Journal Square.

Thomas E. Didio Jr.

JLL represented the borrower, Namdar Group (“Namdar”), to secure the senior financing through Centennial Bank (“CCFG”) and the mezzanine financing through a private lender.

The JLL Capital Markets Debt Advisory team was led by Managing Director Thomas E. Didio, Jr and Senior Analyst Michael Mataras.and Senior Analyst Michael Mataras.

“Namdar was an early mover in the JSQ marketplace and has built an institutional quality portfolio of highly efficient multi-housing units to meet the continued market demand. JLL is excited to partner the CCFG and Namdar teams to bring to life the next building in their portfolio,” stated Didio, Jr.

“We are excited to have the opportunity to work again with the Centennial team on the development front in Jersey City,” added Andrew Namdar of Namdar Group.

Andrew Namdar

With the future location of 35 Cottage Street, the community will be less than a five-minute walk from the Journal Square PATH Station. 35 Cottage is within 30 minutes of New York City's Penn Station, The World Trade Center and Newark's Penn Station.

The complex will be conveniently situated in Journal Square in the heart of Jersey City, which has a low vacancy rate of 2.3% despite rising rents and an increase in supply.

Jersey City's multi-housing market has thrived thanks to the migration of office tenants from Manhattan, driving up demand for housing options. The city's demographics are particularly appealing, with nearly half of its households earning over $100,000 annually and a significant portion of the population being young professionals between the ages of 25 and 44.

With the ongoing Journal Square Transportation Center redevelopment initiative and these favorable demographics, the neighborhood is well-positioned for sustained growth.

Michael Mataras

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.

CONTACT:

Gréta Kieras

Senior Associate,

Public Relations

JLL Capital Markets

1980 Festival Plaza Drive
Suite 250

Las Vegas,

89135

T	+1 949 930 8498

Greta.Kieras@jll.com

RE license #

02111877

Jones Lang LaSalle Americas, Inc.
a licensed real estate brokerage company.
CA RE license #01223413

93,000 square foot shopping center with redevelopment potential sold in Bergen County, NJ

River Road Shopping Center, Fairlawn, NJ

MORRISTOWN, NJ –  JLL Capital Markets has arranged the sale of River Road Shopping Center, a value-add neighborhood center with leasing upside and redevelopment potential in Fair Lawn, New Jersey. The price was not disclosed.

JLL represented the seller, Bon-Marc Realty Co., as advised by Real Estate Asset Management Partners, and also procured the buyer, TFE Properties.

Jose Cruz

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Jose Cruz and Kevin O’Hearn and Directors J.B. Bruno and Ryan Robertson.

According to O’Hearn, “The market remains red hot for value-add retail opportunities. Combined with this strong infill location in land constrained Bergen County, investor interest was very strong for this property.”

Kevin O’Hearn

River Road Shopping Center, a vintage-built property from 1962, offers a total of 92,523 square feet of prime retail space spread across three buildings on a 6.45-acre site. It is home to tenants including Sherwin Williams, and a ShopRite (vacating at the end of this year). and a separate standalone Walgreens built in 1999 and under a long-term lease.

J.B. Bruno

Currently 89% leased, the center presents opportunities for increased leasing and mark-to-market potential. Moreover, River Road Shopping Center benefits from favorable zoning that aligns with the current robust demand for various uses.

Ryan Robertson.

Located at 17-17 to 17-77 River Road within the densely populated town of Fair Lawn, River Road Shopping Center benefits from quick access to major routes like Route 208, Route 4, Route 17 and I-80, offering unmatched regional connectivity.

The shops are located in proximity to local professional offices, educational institutions, residential areas and several multi-housing communities, which provide a captive customer base.

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.