Mohr Capital completes rail-capable industrial project in Surprise, AZ

Kelly Royle

  PHOENIX, AZ – On behalf of Dallas-based Mohr Capital, JLL announced the completion of West Summit at Surprise, a 707,380-square-foot, Class A industrial development in Surprise, Arizona. The project sits on almost 47 acres with sought-after rail access to metro Phoenix’s rapidly expanding BNSF Railroad network.

Tom Theobald

 “Many distribution, manufacturing and logistics companies require rail access for their operations, and West Summit Surprise is among the few brand new and immediately available buildings providing that capability,” said

Tom Theobald, Senior Vice President – Development, Mohr Capital.

 

“This is a premier development in a prime location, enjoying favorable demographics and an infrastructure certainty that is mission-critical to employers locating or expanding in Arizona. We extend a huge thank you to all those who helped us deliver this project to market.”

 

Located in the Summit Business Park at the northwest corner of Dysart and Cactus roads, West Summit at Surprise spans two state-of-the-art buildings, including a 453,960-square-foot Building 1 (36’ clear height) and 250,512-square-foot Building 2 (32’ clear height).

Anthony Lydon

Each building offers 2,500 square feet of speculative office space, 50’ x 56’ column spacing, 3,000 amps of power, LED lighting, ESFR sprinklers, 60’ speed bays and secured truck courts.

 Together they provide 157 dock-high and eight grade-level doors, and can accommodate parking for 706 automobiles and 225 trailers. Building A also offers rail capability to the BNSF Railroad.

 

The project sits less than five minutes from the Loops 101 and 303, and the Northern Parkway, placing it within a 35-minute drive of 1.9 million residents. The project is Foreign Trade Zone capable, offering eligibility for up to a 72.9% reduction in state real and personal property taxes.

 

John Lydon

Anthony Lydon, Executive Managing Director, John Lydon, Senior Managing Director, and Kelly Royle, Vice President, from the Phoenix office of JLL serve as the exclusive leasing brokers for West Summit at Surprise.

 “Surprise is one of the fastest growing cities in the nation, with strong demand from all types of industrial occupiers,” said Royle.

 

“We are fortunate to have Summit at Surprise as speed-to-market opportunity for those prospective tenants, particularly middle-market operators looking for a modernized building and prime infill location with workforce density and quality. It is a very well-located and designed project by the Mohr team.”

 

According to JLL, metro Phoenix recorded 11.3 million square feet of new leases and lease renewals during the first half of 2024. It is fielding over 50 million square feet of active tenant requirements from a diverse range of industries, showing sustained interest in the market and ongoing demand for industrial space.

West Summit at Surprise, a 707,380-square-foot,
 Class A industrial development in Surprise, AZ

In Phoenix, JLL is a market leader employing more than 550 of the region’s most recognized industry experts offering office, industrial, retail, healthcare and data center brokerage, tenant representation, facility and investment management, capital markets, multifamily investments and development services, and related services within the real estate leasing, investment and management process.

 In 2023, the Phoenix team completed more than 120 million square feet in lease and sale transactions, with a total transaction volume of more than $1.1 billion, and directed $67 million in project management across 63 projects.

 

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

 

CONTACT:

Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.com

 

$73 million financing secured from Bank OZK for Traer Creek Apartments in Avon, CO

Traer Creek Apartments, a 242-unit, class A,

 podium multi-housing development in Avon, CO

 

DENVER, CO, Oct. 7, 2024 –  JLL Capital Markets announced today that it has secured $73 million in construction financing from Bank OZK for Traer Creek Apartments, a 242-unit, class A, podium multi-housing development in Avon, Colorado.

 

Leon McBroom

JLL represented the borrower, Prime West and Columnar Investments in the transaction.

With construction scheduled to finish in 2026, Traer Creek Apartments will feature a distinctive four-over-one design that combines Type-V wood-frame construction with a Type-I concrete podium slab. 

This innovative approach allows for structured parking while offering unparalleled quality relative to other multifamily communities in Vail Valley. 

 

Ideally situated at 5471 East Beaver Creek Blvd., Traer Creek Apartments enjoys a prime location just minutes away from the renowned Beaver Creek Resort and Vail Resort, which collectively attract over 1.3 million visitors each year. 

 

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Leon McBroom and Director Will Haass.

Will Haass

“The overwhelming demand for housing and limited supply in the Vail Valley only reinforces our belief in the success of this project. 

The lending community also agreed with this thesis and we were able to create a deep and competitive market as a result,” said McBroom.

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,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877 us.jll.com/capitalmarkets Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413

Decorated Commercial Real Estate Broker Michael Hinton Joins Lee & Associates South Florida

 

Michael Hinton

MIAMI, FL, Oct. 7, 2024 – Lee & Associates South Florida continues to attract top commercial real estate talent to join its growing roster. Another accomplished industry professional, Michael Hinton, CCIM, is the firm’s newest Principal.

 

Based in Miami, Hinton has more than 25 years of experience specializing in investment sales. He is the 2025 President-Elect of the Florida chapter of influential industry organization CCIM. Hinton’s transaction output exceeds $200 million in total value.

Matthew Rotolante 

“Michael Hinton is someone I have known and admired for many years through our shared industry involvement,” Lee & Associates South Florida President Matthew Rotolante said. “He is a perfect fit for our expanding team, as Michael is a top-tier commercial real estate broker and active in industry and community organizations.”

 

Prior to joining Lee & Associates South Florida, Hinton was a Senior Associate at Apex Capital Realty and worked closely with CBRE, managing a national bank portfolio spanning three states and 150 locations.

 

Hinton earned his bachelor's degree in Business Administration from Purdue University Global.

 

CONTACT;

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

 

leesouthflorida.com or follow us on Facebook, LinkedIn, Twitter and Instagram, our company local news.

 

 

 

$35 million refinancing arranged by JLL Capital Markets for Southern California seniors community in Oceanside, CA

 

Olga Walsh 

SAN DIEGO, CA –  has arranged a $35 million construction-takeout refinancing for Ocean Hills Senior Living, a 216-unit, Class A seniors housing campus in Oceanside, California.

 

Working on behalf of Protea Capital Partners, JLL placed the five-year, fixed-rate loan with a regional bank.

 

Located at 4500 Cannon Rd, Ocean Hills Senior Living sits on a hilltop just 3.5 miles from the Pacific Ocean, at the north end of San Diego County. The property's strategic location provides exceptional surrounding demographics and easy access across the region via major freeways, including SR-78 and I-5.

 

Ocean Hills Senior Living is a resort-style complex offering a mix of independent living, assisted living and memory care units in studio, one- and two-bedroom layouts.

 

Greg Spiro

The assisted living/memory care phase of the property was delivered in 2019, with the independent living portion opening in 2021. Initially hampered by COVID, occupancy rates have steadily increased, driven by strong demographic trends and limited inventory growth. The campus reached initial stabilization in Q4 2023.

 

"Despite strong lender interest in the opportunity given its prime location, quality of the community and reputable sponsorship, most offers fell short of the ask," said Walsh. "The regional bank solution provided advantageous loan terms, including higher proceeds and aggressive pricing.”

 

“It was a real pleasure working with the JLL team. Despite having to navigate incredibly challenging circumstances, they never gave up and continued to maintain a level of professionalism that was exceptional,” said Greg Spiro of Protea Capital Partners.

 

 Jack Wood

The JLL Capital Markets Debt Advisory team was led by Director Olga Walsh and Analyst Jack Wood, alongside the JLL Seniors Housing team.

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

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

CONTACT:

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

617-543-4873

 

         

 

 

Project Management Advisors, Inc. Appoints Hospitality Specialist Rhonda Rasmussen as Project Director

 

 

Rhonda Rasmussen

 

San Diego, CA –– Project Management Advisors, Inc. (PMA), a leading provider of construction, project management and owners’ representative services, is proud to announce that Rhonda Rasmussen has joined the firm as the newest Project Director on the PMA Hospitality Sector team.

.

 With over 25 years of experience in the hospitality industry, Rasmussen will oversee the firm’s efforts in expanding its presence in the western region, with a focus on luxury hotel and resort projects in markets such as California, Hawaii, Colorado, and Nevada.

 

“Rhonda brings a wealth of knowledge, expertise, and an extensive network that will allow us to further expand our footprint in the hospitality sector,” said Mark Knott, Vice President & Hospitality Sector Lead at PMA.

Mark Knott

“We are unique in that our senior hospitality leaders, including Rhonda, are directly involved in projects from start to finish. Rhonda’s experience will have a direct impact for our hospitality clients, particularly on the West Coast.

 

With over 25 years in hospitality design and development, Rasmussen has been recognized for her leadership and innovative designs, earning accolades such as the ASID Award of Design Excellence and the Hospitality Design Award.

 

Before joining PMA, she was Director of Interior Design at T2 Development, overseeing high-profile hotel projects.

 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.”

 

pmainc.com.