Wednesday, August 16, 2017

NAI Realvest Negotiates New 5,000-SF Lease of Industrial Space in Sanford, FL


Allison Reynolds

Sanford, FL --- NAI Realvest recently negotiated a new lease agreement for 5,000 square feet of industrial space at 230 Power Court in Sanford. 

Allison Reynolds, vice president at NAI Realvest, negotiated the transaction representing the landlord Jesse Maxwell, III of Maitland.    

The new tenant is Storm Solutions of Central Florida a manufacturer and supplier of seamless gutters, soffit and facia. 

For more information about this release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 lvershelco@aol.com

Allison Reynolds, Vice President, NAI Realvest, 407-875-9989, areynolds@realvest.com

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com


Pulte Homes Plans Grand Opening Sept. 16 at Oviedo Park Terrace in Oviedo, FL With Luxury 3-Story Townhomes



Tristan Knop


OVIEDO, FL – Pulte Homes is now pre-selling three-story luxury townhomes at Oviedo Park Terrace, located at Oviedo Boulevard and Piazza Point. A grand opening for the 51-unit community is slated for Sept. 16.

The two, three and four-bedroom townhomes are available in four floor plans: The Rivington, The Hayward, The Briarcliff and The Avondale, according to Tristan Knop, marketing manager for Pulte’s North Florida Division.

Oviedo Park Terrace Townhomes, Oviedo, FL
“We’re excited to offer this unique opportunity to buy a townhome nestled in the heart of Oviedo,” Knop said. “And with its flexible space and open concepts, Oviedo Park Terrace will have homes suitable for families of all sizes.”

Square footage will range from 2,100 to 2,196 with optional bedrooms, dual suites and from between 2½ to 4½ baths. Pre-construction prices start at $288,990.

Less than one mile from State Road 434 and two miles from State Road 417, the intimate neighborhood will feature its own pool and cabana, with easy access to Center Lake Park, located across the street, which includes a playground, splash pad, dog park, lakeside promenade, amphitheater, paddleboard rental, and more.

For more information about the community, call 866-219-7658 or visit Pulte.com/OviedoParkTerrace.

For more information about this release, please contact:

Tristan Knop, Marketing, PulteGroup / North Florida Division, 407-661-1409 Tristan.Knop@PulteGroup.com


Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 lvershelco@aol.com

Meritage Homes Closes on 200 Acres in Orlando to Develop New 700-Home Community



ORLANDO, FL — Meritage Homes Corporation (NYSE: MTH), a leading U.S. homebuilder, announced plans to develop more than 200 acres in the Winter Park submarket of Orlando.

The new Meritage community, which will be named Hawk’s Crest, is located along Lake Howell off of Red Bug Lake Rd. and  E. Semoran Blvd.  Hawk’s Crest will include more than 700 lots for 250 townhomes and 458 single-family homes. 

 Lake access is among the gated community’s on-site amenities along with running and walking trails, resort-style pools and a community clubhouse.

Brian Kittle
“Hawk’s Crest caters to those looking for a health and wellness lifestyle with open outdoor spaces, lakefront views and resort-style amenities,” said Brian Kittle, Orlando division president of Meritage Homes. “We are excited to bring a much-needed supply of beautiful new homes to the market, and make Hawk’s Crest a long-awaited reality.”

Hawk’s Crest will offer four product lines ranging from approximately 1,600 to 5,200 square feet of living area. The new homes with from three to six bedrooms are expected to be priced from $260,000 to $635,000.

The homebuilder’s signature energy efficiency and home automation packages are standard features in every home. 

Meritage is consistently recognized as the industry leader in technologically advanced homebuilding, and is the first Central Florida builder to offer solar panels as an upgrade in all of its communities.  

By building healthier, cleaner, more efficient homes, Meritage helps deliver short- and long-term energy cost savings to its homeowners without compromising design.

Hawk’s Crest is one of 21 Meritage communities in the Orlando area. It will be built in phases and is expected to open for sales in late 2018 with the first closings projected for early 2019.


For more information, please contact:

  Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

   

NAI Realvest Negotiates $950,000 Sale of International Drive Site in Orlando, FL

 
Paul P. Partyka
ORLANDO, Fla.  – NAI Realvest recently negotiated the sale of a 9.07-acre parcel of vacant land on S. International Drive in Orlando for $950,000.00.

NAI Realvest Partner Paul P. Partyka, CCIM, MICP represented the seller, Southeastern Conference Association of Seventh Day Adventists, Inc. who sold the property to fund construction of new larger church in an Orlando location that’s to be determined.   .   

The buyer of the property, Alessandro Da Silva Oliveria of Windermere, Fla. was represented by Marcelo Cruz of Selecta Realty.  

For more information, please contact:

  Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com
   

NAI Realvest Represents Belhaven University in New Office Lease in Downtown Orlando



 
Andrew 'Andy' McCaw
ORLANDO, FL -- NAI Realvest recently negotiated a new lease representing Belhaven University for office space at 801 N. Magnolia Ave. in downtown Orlando.

Andrew “Andy” McCaw, vice president of tenant representation at NAI Realvest negotiated the transaction on behalf of the tenant who leased the 1,106 office suite to establish a convenient centralized location for all marketing, student recruitment and on-line programs. This new location replaces the office classroom space it occupied at  its Vineland Road campus. 

The landlord of the 52,748 square foot building built in 1984 is Chugin (USA) Inc. represented by Brian Grandstaff and Brittany Morrison of Millenia Partners V, LLC.  

Belhaven University, based in Jackson, MS,  serves 5,000 students, and stands among select Christian colleges and universities with national influence, being repeatedly named one of “America’s 100 Best College Buys."

The University offers 70 areas of undergraduate study as well as a variety of Master Degree programs and Doctoral Degrees in education.

For more information, please contact:

  Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

   

Hold-Thyssen Negotiates Long-Term Restaurant Lease in New Port Richey, FL

       
Carol Kinnard


New Port Richey, Fla. --- Hold-Thyssen, LLC, a full service commercial real estate services firm with offices in Clearwater, recently negotiated a long-term lease of 1,560 square feet of retail/restaurant space at 7202 Massachusetts Ave. in New Port Richey.

Leasing Associates Carol Kinnard and Theresa Margaris located the tenant and negotiated the transaction on behalf of the owners/landlords, John H. and Christina Pimenidis / Kostas A. and Pauline Magganas. 

The new tenant SLCA Ventures Incorporated d/b/a Scotty’s Pizzeria, has been in operation in Pasco County for over 10 years and the Massachusetts Ave. restaurant is a new location for their business expansion. 



Theresa Margaris

While initial discussions with the tenant began a year ago, the transaction took less than one month from Letter of Intent to lease execution, according to Kinnard and Margaris.

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than100 commercial properties throughout the United States.

For more information, please contact:

 Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, Inc., 813-880-7100 ext303 Rfisher@HoldThyssen.com

Robert P. Hold, Principal, Hold-Thyssen, Inc., 407-691-0505, bhold@HoldThyssen.com


 Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

   

Tuesday, August 15, 2017

ALDI Tops Trader Joe’s and Whole Foods in New Home Flipping and Rental Returns Analysis



IRVINE, CA -- A new ATTOM Data analysis shows that prospective homebuyers are better off buying near a Trader Joe’s than a Whole Foods or an ALDI — although homes near Whole Foods have seen home price appreciation more closely on par with those near Trader Joe’s possibly thanks to the Amazon acquisition of the high-end grocery chain.

But for real estate investors looking for the best home flipping or rental returns, targeting neighborhoods around the discount German-owned grocer ALDI is the best strategy, according to the analysis.

Here are the details:

·         Homeowners near a Trader Joe’s have seen an average 5-year home price appreciation of 67 percent, compared to 52 percent appreciation for homeowners near a Whole Foods and 51 percent near an ALDI.

Add caption
o   Average appreciation for all zip codes with these grocery stores nationwide is 54 percent.

 ·         Homeowners near a Trader Joe’s also have added equity, owning an average 36 percent equity in their homes ($232,439), while homeowners near Whole Foods had an average of 31 percent equity ($187,925) and homeowners near ALDI had average 18 percent equity ($46,352).

o   The average equity for all zip codes with these grocery stores nationwide is 24 percent.

·         Flip the tables and properties near an ALDI are an investor’s golden goose with an average gross flipping ROI of 69 percent, compared to properties near a Whole Foods which had an average gross flipping ROI of 41 percent and Trader Joe’s at 36 percent.


o   The average gross flipping ROI for all zip codes with these grocery stores nationwide is 57 percent.

·         Not to mention properties near an ALDI had an average gross rental yield of 10 percent, compared to properties near a Whole Foods with an average gross rental yield of 6 percent and Trader Joe’s at 5 percent.

·     The average flipping ROI for all zip codes with these grocery stores nationwide is 8 percent.

For a complete copy of the company’s news release, please contact:


National Retail Properties Declares Dividends for its 5.70% Series E Preferred and 5.20% Series F Preferred Stocks



Kevin Habicht

Orlando, FL, Aug. 15, 2017 - The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable September 15, 2017, to shareholders of record on August 31, 2017.

The Board also declared a cash dividend on its 5.20% Series F Cumulative Redeemable Preferred Stock of 32.5 cents per depositary share payable September 15, 2017, to shareholders of record on August 31, 2017.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.   As of June 30, 2017, the company owned 2,675 properties in 48 states with a gross leasable area of approximately 28.1 million square feet with a weighted average remaining lease term of 11.5 years.


For a complete copy of the company’s news release, please contact:

Kevin B. Habicht
Chief Financial Officer
(407) 265-7348

.

The Dow Hotel Company Completes $10 Million Renovation of Embassy Suites by Hilton Hotel Chicago O’Hare Airport - Rosemont


  
Murray L. Dow II


  
CHICAGO, IL and SEATTLE, WA —Officials of The Dow Hotel Company (DHC), a leading national hotel owner/investor and operator, announced the completion of the $10 million renovation of the Embassy Suites by Hilton Chicago O’Hare Airport – Rosemont. 

The renovation focused on all aspects of the hotel, including guest rooms, public spaces and back-of-house areas.

“With the conclusion of this top-to-bottom renovation, the hotel has achieved ‘like-new’ status, making it competitive with any product on the market,” said Murray L. Dow II, founder and president, DHC.

 “In the last 19 years, DHC has overseen 20 renovations of similar scope.  The property is positioned to provide experiential travel to upscale business and leisure guests who want something more than the ‘typical’ big-box stay.”

 Embassy Suites by Hilton Chicago O’Hare Airport – Rosemont. 

The renovation enhanced virtually all aspects of the hotel.  Guest rooms received fresh soft goods, upholstered furniture and artwork.  All guest baths gained new tiling, while some were converted to stand-up showers.

 Public spaces were completely redone, including alterations to the atrium, pool, fitness center, lobby, elevators and employee locker rooms.  The business center was upgraded to Embassy Suites by Hilton’s Connectivity Zone with modern furniture. 

The two executive boardrooms received new tables, wood work, refrigerators and televisions.  Exterior hotel improvements range from building enhancements to completely redone landscaping.

“The Embassy Suites by Hilton Chicago O’Hare Airport – Rosemont has 18,000 square feet of flexible meeting and event space, including a 5,100-square-foot ballroom that can accommodate up to 350 guests,” Dow added.  “This gives it some of the largest combined meeting space of any Embassy Suites product in the Midwest.”

Allstate Arena, Chicago, IL

Located across from the Donald E. Stephens Convention and Conference Center, the eight-story hotel is a five-minute drive from Chicago O’Hare International Airport and fifteen minutes from downtown Chicago.  

Guests can enjoy nearby MB Financial Park at Rosemont, a new entertainment complex featuring many restaurants, bowling, a movie theater, a seasonal outdoor ice rink and much more. Additional local attractions include the Allstate Arena, which is home of the Chicago Wolves hockey team, the Rosemont Theater and Rivers Casino.

Hotel amenities include twenty-two conference rooms with connecting suites, a seven-story garden atrium, fully-equipped fitness center, indoor pool and complimentary shuttle service to and from O’Hare Airport.  Each of the hotel’s newly renovated, two-room suites features a private bedroom and a separate, well-equipped living room. The living area includes a full-sized sofa bed, work station and ergonomic chair.

In addition to the numerous dining options in the immediate area, guests and locals can enjoy delicious Italian and Mediterranean-inspired cuisine in a casual atmosphere for lunch and dinner in Basil’s Kitchen.  Guests also can enjoy a libation while watching flat screen televisions in Basil’s Bar. 
.
For a complete copy of the company’s news release, please contact:


PATRICK DALY
OFFICE MANAGER
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-300-8289

or

Chris Daly
Phone: (703) 435-6293
            






Stepp Commercial Completes $4.9 Million Sale of 20-Unit Apartment Property in Long Beach, CA



 
Robert Stepp
Long Beach, CA, Aug 15, 2017 - Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $4.9 million sale of East Fifth Street Apartments, a 20-unit apartment property located near the Retro Row and Belmont Heights submarkets in Long Beach, Calif.

Principal Robert Stepp of Stepp Commercial represented the seller, an Orange County-based private investor, as well as the buyer, a private investor from Los Angeles. The property closed at a 4.2 percent cap rate and a price per unit of $245,000.

Built in 1961, the two-story property is located at 3025 East 5th Street and includes 10 two-bedroom units and 10 one-bedroom units. Some of the interiors feature hardwood flooring and upgraded kitchens with granite countertops and stainless steel appliances.

"By adding value to the units that have not already been updated, the buyer stands to secure a 25 percent rental upside," said Stepp. "Long Beach is a prime market to add value to apartment properties as it has no rent control, unlike to many other Los Angeles area cities."


For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224