Illustrated Properties Launches Commercial Real Estate Division
The new division is led by Director of Commercial Real Estate Shane McCain.
The new division is led by Director of Commercial Real Estate Shane McCain.
“Lincoln Road is experiencing one of the most exciting periods of growth and reinvestment in its recent history,” said Lyle Stern, president of the Lincoln Road Business Improvement District.
The property is currently 100% occupied by two tenants.
Read on for the most popular news headlines this past week on CRE-sources.
JLL Capital Markets’ Debt Advisory team representing the borrower was led by Managing Director Max La Cava, Associate Justin Ratcliffe and Analyst Abbie Kushner.
The purchase price works out to roughly $308 per square foot.
The property is anchored by two charter schools, which comprised approximately 86% of the leased space at the time of sale.
The property was originally brought to market as a lease opportunity, with ownership having no initial plans to sell. However, within days of the property signage being installed, multiple prospective tenants expressed interest in purchasing the site rather than leasing it.
Transwestern’s Carlos Gaviria and Walter Byrd represented the owner, Link Logistics, in the transactions, which range from 27,086 to 61,724 square feet.
Cushman & Wakefield’s Scott O’Donnell, Mike Ciadella, Greg Miller and Miguel Alcivar structured this transaction “off market.”
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