JLL represented American Lithium Energy (ALE), a manufacturer of lithium-ion batteries, in a new 81,928-square-foot lease at 1395 Aspen Way in Vista.  The firm is expanding from 21,473 square feet in Carlsbad and will use the space for R&D, manufacturing and distribution of its batteries. The tenant is scheduled to move into its new space in the fourth quarter.

On the heels of our successful A round and SpaceWERX STRATFI award last year, this facility marks an important milestone for ALE,” said CFO Danny Joe. JLL’s Tim Olson represented ALE in the lease. 

“We continue to see the evolution of San Diego’s diverse economy with advanced manufacturing and other sectors growing in the region,” said Olson.  “We have the expertise and experience to guide companies through the complicated real estate process, allowing them to remain focused on their mission.”

Photo credit: CoStar.

Blue Vista Capital Management, a Chicago-based real estate investment management firm, in partnership with Clarion Partners, announced the acquisition of a four-property student housing portfolio from Columbus Pacific Group.

The portfolio consists of four well-located, Class-A student housing communities totaling 855 units, serving students at Pennsylvania State University, College of Charleston, and Texas A&M University. Blue Vista affiliate PeakMade Real Estate will manage the properties.

“This portfolio reflects Blue Vista’s student housing strategy of pursuing high-quality, in-demand accommodations at top-tier universities with growing student populations,” said Jason Schwartz, Managing Principal and Co-Head of Blue Vista’s Equity Group. “We are pleased to partner with Clarion, a proven leader in U.S. residential real estate, to deliver modern, purpose-built residences well-suited for student living.”

The portfolio transaction was brokered by TSB Realty, with debt placement services provided by TSB Capital Advisors.

Vista Residential Partners has broken ground on 11.7 acres on the corner of N. Main Street and Holly Springs Road in Holly Springs, NC, for the development of Main Street Vista, a 277-unit mixed-use community. Public records show that Western-Southern Life Assurance Co. originated a $53.7 million construction loan for this development.

Located in the heart of Holly Springs, Main Street Vista is a mixed-use development with 19,000 square feet of vertically integrated retail space and 11,000 square feet of live-work space that will be within walking distance of downtown Holly Springs.

The community will offer a mix of one-, two-, and three-bedroom apartment homes averaging almost 1,050 square feet. Select units will also have ground-floor office space available for lease to prospective tenants who desire to work from home. Main Street Vista will also feature a luxury clubhouse, resort-style swimming pool, fitness center, large central green area and pet park, 24/7 package concierge, and more.

 JLL Capital Markets completed the sale of 450 4th Ave., a nearly 37,000-square-foot medical outpatient building in Chula Vista. The firm’s Medical Properties Group represented the seller, Turner Impact Capital, and procured the buyer, Cypress West Partners in a joint venture with TPG Angelo Gordon. Terms of the sale were not disclosed.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by director Matt DiCesare and senior managing director Evan Kovac.

450 4th Ave. is located on the campus of the 173-bed Scripps Mercy Hospital Chula Vista. The four-story property serves the broader southern San Diego area and is located between the 5 and 805 Freeways. Renovated in 2015, it is currently leased to 12 tenants, including anchor tenant Scripps Health.