JLL Capital Markets handles sale of Quorum II Plaza in Dallas’ Platinum Corridor in Addison, TX

  

Erin Lazarus.

 DALLAS, Jan. 17, 2025 –  JLL Capital Markets announced today that it has arranged the sale of Quorum II Plaza, a 77,319-square-foot shopping center in Addison, part of the Dallas Fort Worth area, in Texas.

 

JLL represented the seller, Westwood Financial Corporation. The buyer was Last Mile Investments. The price was not disclosed.

Adam Howells

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Adam Howells, Barry Brown and Chris Gerard and Director Erin Lazarus.

 

Dallas stands out as a prime destination for real estate and business, ranking as the #3 real estate market and the #1 metropolitan statistical area for projected population growth. 

With a robust daytime population of 529,000 people within five miles of Quorum II Plaza, the area exudes economic potential. The combination of a low cost of doing business and a high average household income of $121,000 makes Dallas an ideal environment for entrepreneurship and investment.

Barry Brown

Quorum II Plaza, built in 1981 and situated on 5.7 acres, boasts a 93% occupancy rate, underscoring its popularity and commercial success. 

Key tenants, including Verizon, Salata, Tasty Tails and Improv, alongside popular establishments like Sellinger's Powergolf, Tiff’s Treats and Jimmy John's, create a diverse tenant mix that attracts a wide array of visitors.

 

About Westwood Financial Corp.

 

Westwood Financial is a leading real estate investment platform recognized for its extensive collection of 72 shopping centers strategically located across the U.S.

sunbelt states.

Chris Gerard

 Founded in 1970 by Steven Fogel and Howard Banchik, the company boasts nearly 55 years of experience investing in and operating primarily grocery-anchored and service-oriented shopping centers.

 

 Guided by its executive management team, founders and three independent directors, Westwood Financial continues to providing investors with stable, income-generating real estate opportunities and outsized investment returns.

 

CONTACT:

 

  Gréta Kieras, Senior Associate, Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

JLL Capital Markets brokers $191 million loan for Fenton, a premier mixed-use urban village project in Cary, NC

 

Kelsey Bawcombe.

ATLANTA, GA, Jan. 17, 2025 –  JLL Capital Markets has secured a $191 million senior mortgage for Fenton, a premier mixed-use development located in Cary, North Carolina.

 

JLL represented the borrowers, a partnership consisting of Hines, Affinius Capital and Columbia Development, in securing the loan from New York Life Real Estate Investors.

 

Fenton is strategically located near the intersection of Cary Towne Blvd. and I-40, which offers exceptional connectivity to the wider Raleigh-Durham-Chapel Hill area. This vibrant mixed-use development benefits from proximity to prominent employment hubs such as the Research Triangle Park and is just 15 minutes west of Downtown Raleigh.

 Chip Sykes

The Raleigh-Durham Triangle area, formally known as the Research Triangle Region, is a vibrant and rapidly growing metropolitan hub home to over two million residents.

 

Fenton is an experiential mixed-use urban village, featuring over 246,000 square feet of retail space housing 42 diverse tenants, 183,000 square feet of modern office space and 357 multifamily units delivered in 2022-2023.

 

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Directors Chip Sykes and Vice President Kelsey Bawcombe.

 

"This financing underscores Fenton's standing as a transformative development within Cary and the broader Triangle area," said Sykes. "The commitment reflects confidence in the project's best in class mixed-use place making and the development teams unmatched execution abilities."

 

 

Contact: 

 

Gréta Kieras,

Senior Associate,

 Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

 jll.com. 

 

 

JLL Capital Markets arranges sale of 656-bed Bixby Student Housing community serving Kennesaw State University in Kennesaw, GA

 

Teddy Leatherman

DALLAS, TX –  JLL Capital Markets has arranged the sale of 656-bed Bixby Student Housing community serving Kennesaw State University in Kennesaw, Georgia. JLL represented the seller, Alden Street Capital. The price was not disclosed.

Bixby, located at 3061 George Busbee Parkway NW,
offers a prime location just 0.25 miles from
 the Kennesaw State University campus. 

Bixby, located at 3061 George Busbee Pkwy NW, offers a prime location just 0.25 miles from the Kennesaw State University campus. Completed in 2020, this luxury student housing community features 179 units with a mix of studio to five-bedroom floor plans.

 Scott Clifton

The property boasts high-end amenities including a rooftop skydeck overlooking Fifth Third Stadium, a resort-style pool, state-of-the-art fitness center and multiple study spaces.               

 

The student housing community has demonstrated strong performance, achieving 98% occupancy for the 2024-2025 academic year with year-over-year rent growth. 

This success is backed by Kennesaw State University's robust enrolment growth, which reached a record 47,845 students in Fall 2024, marking the sixth consecutive year of expansion.

 

Bixby offers modern, fully furnished apartments with premium features such as 11-foot ceilings, stainless steel appliances, quartz countertops and private bedrooms with bed-bath parity. The property's 656 beds are spread across various unit types, catering to diverse student preferences.

Kevin Kazlow 

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Directors Teddy Leatherman and Scott Clifton, Director Kevin Kazlow and Associate Jack Goldberger.

 

"Bixby represents the premier student housing offering in the Kennesaw market," said Leatherman. "The property's exceptional performance, coupled with Kennesaw State University's consistent enrollment growth, generated strong interest from investors. This transaction underscores the continued demand for high-quality student housing assets in thriving university markets."

 

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. 

Jack Goldberger

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 Alden Street Capital

Alden Street Capital, founded in 2015, is a real estate investment company specializing in acquiring and operating student housing properties across the United States.

 

The firm focuses on investing in projects that require capital and asset level expertise, having contracted or acquired 23 assets representing approximately 13,500 beds.

 

With senior principals who have collectively invested more than $1.0 billion in equity capital across various asset classes throughout their careers, Alden Street Capital brings significant experience to its growing portfolio.

 

Contact: 

 

Gréta Kieras,

Senior Associate,

 Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

 jll.com. 

 

 

JLL Capital Markets brokers sale of 752-unit Retreat at Mesa Hills in El Paso, TX

Retreat at Mesa Hills, a 752-unit multi-housing community in El Paso, TX

 DALLAS, TX, Jan. 15, 2025 –  JLL Capital Markets has arranged the sale of Retreat at Mesa Hills, a 752-unit multi-housing community in El Paso, Texas. The price was not disclosed. JLL worked on behalf of the seller, JRK Property Holdings.

Steven Hahn Jr.

Retreat at Mesa Hills, located at 945 South Mesa Hills Dr., offers a prime location just off the I-10 in the sought-after Upper West Side of El Paso.

 Situated on an expansive site, the property provides convenient access to abundant retail and employment centers, including the Shoppes at Solana, Sunland Plaza, the University of Texas at El Paso, The Hospitals of Providence and the El Paso CBD.

 

El Paso, Texas is a diverse and growing city with a population of over 690,000 as of 2023, making it the 6th largest metropolitan area in Texas and the 23rd largest city in the U.S. The area boasts strong economic drivers, including the University of Texas at El Paso, Fort Bliss Army Base and robust international trade activity.

 

Art Barnes

Known for its strategic location on the U.S.-Mexico border, El Paso is a major hub for foreign trade, processing over $122 billion in annual trade volume and more than 30 million border crossings.

 

Retreat at Mesa Hills, completed in multiple phases since 1995, is a well-maintained Class-A asset featuring 752 units in a low-density, aesthetically pleasing two-story design.

 

The community offers a mix of one-, two- and three-bedroom units ranging from 538 to 2,127 square feet. Residents enjoy resort-style amenities including three swimming pools with a relaxing tanning deck and private cabanas, a well-equipped fitness center, two illuminated tennis courts, two sand volleyball courts, a Starbucks WiFi café, a lavish clubroom, a game room and a state-of-the-art media theater, contributing to its strong occupancy.

 

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Director Steven Hahn Jr., Senior Director Art Barnes, Senior Managing Director Roberto Casas and Vice President William Jennings.

 Roberto Casas

“Retreat at Mesa Hills represents an exceptional opportunity in the El Paso market given the property’s prime location, extensive amenities and value-add potential,” said Hahn. “This transaction underscores the significant investor interest and confidence in the burgeoning El Paso 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. 

  

Contact: 

 

Gréta Kieras, 

Senior Associate,

 Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

 jll.com.