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Portfolio Update: June 2021

At Jamestown, we share a mission to create innovation hubs and community centers at our commercial real estate properties.

Once a month, Portfolio News will highlight the people and experiences that make Jamestown real estate properties more than just amazing spaces. Portfolio News posts will explore items of interest in the areas of Innovation, Growth, Sustainability, and Community; these four pillars inform the value-add work we do every day as a real estate investment and management firm. Each of the properties listed here are not owned by or targets for Jamestown Invest 1, LLC. They are not representative of Jamestown Invest 1, LLC’s investment strategy and are not representative of the scale of investments that Jamestown Invest 1, LLC intends to make. This monthly digest is intended to give readers of Real Estate 360 a better understanding of Jamestown’s approach and tenant successes, which all contribute to company culture.

INNOVATION

FanDuel recently announced its selection of Ponce City Market in Atlanta, GA, as a new technology hub for its software engineering, product development, user experience, and user interface teams. Sarah Butterfass, FanDuel's Chief Product Officer, said, "This historic building offers our employees a blend of old-world charm, cutting edge sophistication, and modern amenities that will deliver an unmatched working environment."

Ponce City Market

GROWTH

Industrious opened a 26,000 SF flexible workspace at Concord's 2001 Clayton. It is conveniently located adjacent to Concord’s Bay Area Rapid Transit station and the amenity-rich Todos Santos Plaza. This is Industrious’ 5th location in the San Francisco Bay area and its 19th location in California.

Industrious expansion


SUSTAINABILITY

Jamestown’s Troy Harris was invited by Georgia Senator Reverend Raphael Warnock to provide testimony before the Senate Agriculture Committee highlighting private working forests as a natural carbon solution and advocating for mass timber. Troy said, “The built environment is one place where sustainable forest products can produce clear climate wins. According to the United Nations, traditional building materials account for roughly 11% of global greenhouse gas emissions. Building with wood can substantially reduce that number. And mass timber buildings – buildings made with structural timber – make more wood-intensive buildings possible.”

Jamestown Timber


COMMUNITY

Reebok hosted a gathering to celebrate the lighting of its rooftop marquis sign to reflect its Progress Pride Flag campaign. The event was led by Reebok's LGBTQIA+ Employee Resource Group called Colorful Soles. Reebok changes its sign's colors throughout the year to reflect holidays or events. This month’s colors convey the company's commitment to providing an inclusive and safe space for all.

Jamestown Reebok Pride celebration
Jamestown Author Thumb

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The NPI is a quarterly, composite total return for private commercial real estate properties located in the United States. The NPI includes operating office, retail, industrial, apartment, or hotel properties accounted for on a market value basis and includes the impact of leverage employed on the properties in the index. The NPI Levered Index is illustrative of historical average annualized commercial real estate returns on a gross property level leveraged basis, and these historical returns may not be indicative of future results. Leverage adds additional risks because leverage providers generally get paid first and may have a full or partial recourse claim against a portfolio. Such real estate return data should not be used to estimate returns of Jamestown Invest investments. While Jamestown Invest 1, LLC may acquire properties that meet some of the NPI criteria, it may acquire properties that do not meet such criteria. Further, Jamestown Invest property returns may have a better or worse average annualized return performance compared to the index as each real estate investment is unique in nature, which is inherently problematic for benchmarking to the composite returns of a highly diversified index.