PipShip brings ViaWest’s new Gilbert, AZ industrial portfolio to 98% occupied

 

PipShip: The 2075 building totals 110,975 SF
with 30’ clear height, dock-high and
grade-level doors, office space and 87
 auto parking spaces (expandable). 

PHOENIX, AZ – JLL has completed a 40,415-square-foot lease for PipShip within ViaWest Group’s recently acquired six-building industrial portfolio in Gilbert, Arizona. With the addition of PipShip, the portfolio now sits at more than 98% occupied.

Alex Hondros

PipShip will relocate its distribution and e-commerce operations from Tempe, Arizona, to 2075 W. Obispo Ave. in Gilbert, representing an expansion in the metro Phoenix market.

 Its new location is part of the 180,087-square-foot, two-building El Dorado Tech Center, purchased by ViaWest in February as part of a $71.1 million, 428,427-square-foot infill portfolio acquisition from Clarion Partners.

 

“We are thrilled to welcome PipShip to our newly acquired Gilbert portfolio," said Alex Hondros, Senior VP Acquisitions and Asset Management, ViaWest Group.

Steve Larsen

"This lease not only brings our occupancy rates to an impressive 98% but also signifies the growing appeal and strategic value of the metro Phoenix market. 

"Our focus on acquiring and optimizing top-tier industrial spaces has positioned us as a key player in supporting the expansion of dynamic and innovative companies like PipShip."

 

Steve Larsen, Executive Managing Director, and Jason Moore, Executive Vice President, from the Phoenix office of JLL, represented ViaWest in its lease negotiations and serve as the exclusive leasing brokers for its Gilbert portfolio.

 Jason Moore

The JLL Capital Markets team of Mark Detmer, Greer Oliver, Ryan Sitov and Conner Nebeker-Hay represented Clarion in its February sale of the portfolio, which increased ViaWest’s Phoenix industrial footprint to 42 industrial properties spanning more than 8.2 million square feet.

 

ViaWest has been one of the more active investors in Phoenix, having acquired 1.1 million square feet and delivered another 2.1 million square feet over the past 12 months.

 

“PipShip is a stand-out tenant, not only representing one of the nation’s few woman- and family-owned fulfilment companies, but also highly respected and rated by its clients,” said Larsen. “This new location gives them the space and the resources to continue to build on that success, with the support of ViaWest, who has earned its position as a superior institutional owner.”

Mark Detmer

It is located in the heart of the Gilbert office market, with proximity to US 60 and the Loop 101 freeways and supported by a highly educated and diverse workforce.

 

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.

 

Greer Oliver

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.

Ryan Sitov

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

 

 CONTACT:

 Stacey Hershauer

Phone: +01 480-600-0195

Email: stacey@focusaz.com

 focusAZ  

www.focusaz.com

 

Native Realty Completes Several Leases Across Florida for New Bagels & Co. Locations

FORT LAUDERDALE, FL – April 15, 2024 – Native Realty is helping the popular Philadelphia founded Bagels & Co. concept expand quickly across Florida.

 

  Firm CEO Jaime Sturgis is exclusively representing Bagels & Co. in its search for new store locations, and just finalized leases in Davie (Nova Southeastern University), Gainesville (University of Florida) and Tallahassee (Florida State University).

Jaime Sturgis

The Company’s three new stores are on the campuses of major universities. Bagels & Co. first debuted in Florida in late 2022, with a Fort Lauderdale store.

 

In Davie, Bagels & Co. leased 1,498 square feet within Nova Southeastern University’s Modera Academical Village at 3440 SW 76th Terrace. It will be the Company’s third Broward County location, following the recent opening of a 2,500-square-foot shop in Wilton Manors.

 

The 2,788-square-foot Gainesville store is located two blocks from the University of Florida campus, located at 1111 W. University Ave. In Tallahassee, Bagels & Co. leased 2,021 square feet at 799 W. Gaines St. next door to the Florida State University campus.

 

Sturgis is actively pursuing locations in Hollywood and Pompano Beach for Bagels & Co.

 

  

CONTACT:

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

Web | Facebook | Instagram | LinkedIn

 

CULMER PLACE IN OVERTOWN, FL CELEBRATES WITH GROUNDBREAKING

Miami-Dade County Mayor Daniella Levine Cava.

 

MIAMI, FL – Miami-Dade County and its Department of Public Housing and Community Development (PHCD) along with City of Miami and the Department of Housing and Urban Development in partnership with an affiliate of Atlantic Pacific Companies (A|P) and Wells Fargo hosted a groundbreaking for Culmer Place, a public housing redevelopment (RAD conversion) in Overtown, on Friday, April 19^th. Culmer Place is the first phase of the Culmer public housing RAD conversion.

Culmer Place, Overtown, Miami, FL

“Great partnerships yield great results. By forging alliances with the private sector, Miami-Dade County government can continue to redevelop existing public housing developments and construct new units to assist our hard-working residents in finding a home," added Alex Ballina, Director of PHCD.

Alex Ballina

The community will be comprised of 239 units in two buildings, as well as a clubhouse with a pool, fitness center, club room, and computer rooms.

 

“We’re excited to partner on the needed replacement of public housing in Overtown by serving a broad mix of household incomes in the new Culmer Place, which will immediately improve the neighborhood’s aesthetics and quality of life.” said Kenneth Naylor, President of Development for Atlantic Pacific Companies (A|P). “Everyone deserves the right to live in a beautiful community at attainable rents.”

 

"This phase marks the inception of the transformation journey for Culmer Place and Culmer Gardens public housing developments under the Rental Assistance Demonstration (RAD) program. This redevelopment project will ultimately result in more than 1,000 new affordable and workforce housing units," stated Miami-Dade County Mayor Daniella Levine Cava.

 Kenneth Naylor

The family housing will consist of studios, one-, two-, three-, four-, and five-bedroom units to accommodate families of various sizes. All of the units are set-aside at 30% - 80% of the Area Median Income (AMI) with rental prices ranging from $542 up to $4,541.

 

“Culmer Apartments will provide residents the opportunity to reside in modern and welcoming surroundings in close proximity to stores, churches, and other neighborhood anchors at an affordable price,” expressed Miami-Dade County District 3 Commissioner Keon Hardemon.

 

“Affordable housing in District Five is a top priority. In the past few years we’re seeing several new developments rise to the occasion,” said City of Miami Chairwoman and District Five Commissioner Christine King. “What I love about Culmer Place is that we aren’t only developing fresh housing from the ground up, we are redeveloping dated housing that will further beautify our district.”

Keon Hardemon.

"Wells Fargo is proud to have worked with Atlantic Pacific Companies (A|P) on the financing for Culmer Apartments. This is a transformative project for Miami and will act as a new catalyst for growth and vibrancy,” said Horatio Jones IV, managing director in Wells Fargo’s Multifamily Capital group.

 

“This project will positively impact the lived experiences of a number of Miami Dade families, immediately improving their quality of life, while also providing full access to the benefits of living in direct proximity of downtown.” 

 

Funding for the property consists of $28.829 million in U.S. Department of Housing and Urban Development (HUD) debt; $13.36 million from Florida Housing Finance Corporation’s (FHFC) Sate Apartment Incentive Loan program (SAIL), National Housing Trust Fund (NHTF), and Supplemental ELI; a $6.5 million Miami-Dade County surtax; $500,000 in Miami-Dade County Overtown funds; and $52 million limited partner (LP) equity and $40 million bridge loan both from Wells Fargo. A HUD CNI application for $50 million in funding has also been submitted for future phases and for community improvements.

Christine King

 

 

 CONTACTS:

 

MargieSernik 

 margie@jwipr.com 

 786.200.2516

Tyler Sminkey 

 tyler@jwipr.com | 

786.390.8510

 

Wells Fargo Stories.

www.apcompanies.com.

 

 

$290 million construction financing secured for Dallas Class AA trophy office tower

Parkside Uptown, an approximately 500,000-square-foot
 trophy Class AA office tower being built in Uptown Dallas.

 

 DALLAS, TX –  JLL’s Capital Markets has arranged a $290 million construction loan for Parkside Uptown, an approximately 500,000-square-foot, trophy Class AA office tower being built in Uptown Dallas.

Trey Morsbach

JLL worked on behalf of the developer, Pacific Elm Properties, to secure the four-year, floating-rate loan from the Real Estate group within Goldman Sachs Alternatives.

The JLL Capital Markets Debt Advisory team was led by Executive Managing Director Trey Morsbach, Senior Managing Directors Jim Curtin and Michael Cosby and Managing Director Greg Napper.

 

Due for completion in 2027, Parkside Uptown will stand 30 stories tall and offer trophy office space and top-of-the-line amenities, including a sky lobby and lounge, outdoor tenant terraces, fitness facilities and ground-floor retail. Bank of America has pre-leased 49% of the space as of the time of loan closing.

Jim Curtin

According to JLL Research, highly amenitized buildings are expanding their outperformance against the broader market with certain amenities such as roof terraces or outdoor seating driving the most rent premiums.

 

Parkside Uptown is located at the corner of Harwood Street and Woodall Rogers Freeway in the heart of Uptown Dallas.

 The property is immediately adjacent to Klyde Warren Park, a 5.2-acre park that serves as a focal point of the city, connecting Uptown and Downtown Dallas, and is within walking distance of numerous restaurants and entertainment options.

 

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

 Michael Cosby 

The group’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:

 

Kristen Murphy,

JLL Director, Public Relations

Phone: +1 617 543 5873

Email: Kristen.Murphy@jll.com