JLL Capital Markets led financing efforts for ATLAS Germann, a state-of-the-art industrial development in Arizona
News release
21 November 2023
$12M construction loan arranged on behalf of ATLAS and OakPoint for Phoenix-area industrial development
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PHOENIX, Nov. 21, 2023 – JLL Capital Markets announced today that it arranged $12 million in construction financing for ATLAS Germann, a premier industrial development totalling 60,500 square feet in Gilbert, Arizona.
JLL represented the borrowers, ATLAS and OakPoint, to secure the five-year, fixed-rate loan from a regional bank.
The property is fully pre-leased to Frito-Lay, Inc. for 10 years, which was arranged by JLL’s leasing team. Frito-Lay, a subsidiary of PepsiCo, is the most popular snack food company in the world.
ATLAS Germann will consist of 60,500 square feet located on 8.16 acres in the Southeast Valley, Phoenix’s premier industrial market, and one of the most highly sought-after industrial markets in the United States.
The JLL Capital Markets team was led by Senior Director Jason Carlos and Associate Jarrod Howard. The JLL leasing team was led by Executive Managing Director Steve Larsen and Managing Director Kyle Westfall.
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.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About ATLAS
ATLAS is a multi-disciplinary firm with investments across industrial, multi-family, office, and retail real estate. ATLAS’ investment strategies include development, opportunistic, value-add, and core-plus. A best in class operator, ATLAS prides itself on spotting market dislocation, generating alpha, and being a responsible steward of capital. For more information visit atlasphx.com.
About OakPoint
OakPoint is a vertically integrated firm with a diverse portfolio in commercial, multifamily, office, residential, and industrial real estate. OakPoint targets a broad spectrum of development projects, from heavy value-add to adaptive reuse. OakPoint pursues both commercial and multifamily properties with a competitive advantage that stems from their opportunistic approach, robust skillset, and available in-house resources. For more information visit oakpointre.com.