Monday, July 25, 2016

Berger Commercial Realty Secures More Than 76,000 Square-Feet in Lease Extensions for Seagis Property Group and Prologis in Broward County, FL


Keith Graves
FORT LAUDERDALE, FL - Berger Commercial Realty brokers recently represented Seagis Property Group and Prologis in securing four lease extensions totaling 76,070 square-feet of space in Broward County. 

Fort Lauderdale Commerce Center

Senior Vice President Keith Graves represented Seagis in extending a lease for 58,820 square-feet of flex space to GA Telesis Composite Repair Group, LLC at the Fort Lauderdale Commerce Center, located at 3420 N.W. 53rd Street.

Prologis I-595

Along with Broker Associate Greg Milopoulos, Graves also represented Prologis in extending a lease for 8,400 square-feet of flex space to General Parts Distribution, LLC at Prologis I-595.

Palm Crossing Central

Additionally, Graves represented Seagis in extending a lease for 6,150 square-feet of flex space to Mainsail Housing of Miami, LLC at Palm Crossing Central, located at 5371 N.W. 33rd Avenue in Fort Lauderdale. Palm Crossing Central is currently 91 percent leased.

Palm Crossing North

Graves also represented Seagis in extending a lease for 2,700 square-feet of flex space to US Wood Flooring, Inc. at Palm Crossing North, located at 3540 N.W. 56th Street in Fort Lauderdale.

For more information about Berger Commercial Realty's leasing services, call 954-358-0900.

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

954-776-1999
Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com 

The Keyes Co. and Illustrated Properties Merge; Independently owned firms share nearly two centuries of industry experience in Florida


Mike Pappas (left) and Francis Fiske  'Bud' Adams
Miami, FL -- The Keyes Company and Illustrated Properties have announced the union of two of Florida’s longest-running and most accomplished family-owned real estate businesses.

Following the merger, Keyes and Illustrated are, together, the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States.

In Palm Beach County alone, the companies have in excess of 1,100 Sales Associates and produce double the volume of their closest competitor. Overall, Keyes and Illustrated generate more than $6 billion in annual revenue from their real estate service lines.

Keyes CEO Mike Pappas and Illustrated Chairman Francis Fiske “Bud” Adams, Jr. announced the merger to employees and agents from both companies on Wednesday, July 20.

“Our families have known each other for many decades and have always shared a mutual respect,” said Adams, Jr. “Our philosophies match, as our number one priority is taking care of our agents and customers. Real estate is a personal experience; it’s the relationships that make the difference.”

Both companies are continuing to operate under their existing brands and are maintaining their management teams and employees. The merger allows Keyes and Illustrated to utilize their infrastructure to greatly enhance the resources, leadership and technology supporting agents and customers alike.

Mike Pappas
This platform will continue to allow the companies to attract and retain top-tier Sales Associates.

“We are thrilled to align ourselves with another strong, family-owned company that also emphasizes a structure of trust and integrity with its Associates,” said Pappas. “With the radical changes in technology driving this business, this is a tremendous opportunity to leverage those shared resources.

“This allows us to provide even more services, support and benefits to our companies and clients.”

Illustrated’s impact on South Florida real estate dates back to the 1930s, when F.F. “Bud” Adams, Sr. began selling land in Hobe Sound and on Jupiter Island.

With the vision of becoming the top real estate company in Palm Beach County, Adams Jr. relocated to Palm Beach and founded Illustrated Properties along with Rodney Dillard.

 Today, the company has more than 500 agents in 21 offices throughout Palm Beach, Martin, St. Lucie, Volusia and Collier counties and is the exclusive broker for Lost Tree Village, John’s Island and Jupiter Hills.

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

Paula Renaldo
Telephone:       954.914.4192
Email:              PaulaRenaldo@Keyes.com

Website:           www.Keyes.com

Voit Real Estate Services Expands Brokerage Team; Adds Industry Veteran Liz Hurley as Senior Vice President


Liz Hurley
IRVINE, CA (July 25, 2016) – Voit Real Estate Services, a privately held, broker-owned Southern California commercial real estate firm, has announced the addition of industry veteran Liz Hurley as Senior Vice President in its Irvine office, according to Eric Hinkelman, Chief Executive Officer of Voit Real Estate Services.

“As a broker-owned firm, we take great pride in our ability to provide an environment in which brokers hold a personal stake in the company, allowing them to take ownership of their success here,” says Hinkelman. 

“We are fully committed to recruiting the highest level of talent, and Liz’s deep expertise makes her a tremendous asset to our team.”

According to Hinkelman, Hurley is a well-established brokerage professional with a proven track record of office leasing expertise in the Orange County market.

Hurley, who notes that Voit’s unique platform attracted her to join the firm, says, “Voit’s entrepreneurial spirit, company culture, and reputation as one of the premier brokerage firms in Southern California attracted me to this opportunity. I look forward to building upon this legacy and taking part in the firm’s forward momentum.”

Eric Hinkelman
An industry veteran with a specialty in tenant and landlord representation for office properties, Hurley brings 29 years of brokerage experience and a deep understanding of the industry to her new role.

Prior to joining Voit, she was Managing Senior Vice President with Transwestern for five years, where she oversaw the establishment of the firm’s Orange County office.

Before Transwestern, she served as a Senior Director with Cushman and Wakefield for four years, where she guided corporate clients and cultivated a strong understanding of the institutional landlord mindset. 

Her client roster has included major regional and national office tenants such as Prudential Life Insurance, Sony Corporation, and American Express, as well as landlords such as MetLife and Brookfield Property Group, among others. 

Hurley has been recognized as a top-performing broker multiple times throughout her career, and continues to position herself as a leading Orange County office specialist.

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

Devin Ugland / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

         

Sunday, July 24, 2016

Bull Realty Lists and Sells $5.58 Million Medical Office Building in Griffin, GA


Paul Zeman
ATLANTA, GA  — Healthcare Real Estate Services at Bull Realty exclusively listed and sold the Ultima Griffin, a 21,722 SF medical office building located in Griffin, GA. The sale closed on July 18, 2016 for $5.58 million.

The property is 100% occupied by Atlanta Heart Associates, South Atlanta Radiology, Wellstar Spalding Regional Hospital, Georgia Cancer Specialists, an affiliate of Northside Hospital Cancer Institute, and Southern Gastroenterology Specialists.

Paul Zeman with Bull Realty was chosen to market the property exclusively by the seller, Ultima at Griffin, LLC. The buyer was Phoenix Acquisitions.

“This is a quality built medical office building with outstanding tenants and will prove to be a great long term investment for Phoenix”, says Zeman.

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

Melissa Henry
Communications Manager
Bull Realty, Inc. 
404-876-1640 x 110


Marcus & Millichap Arranges Sale of Two Fort Lauderdale, FL Apartment Buildings


Joseph P. Thomas
FORT LAUDERDALE, Fl – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of two apartment buildings located in Fort Lauderdale and Wilton Manors, Fla..

Riverlane Condominiums, a 24-unit condominium property located in Wilton Manors, sold for $2,350,000 and Middle River Gardens, a 16-unit apartment complex located in Fort Lauderdale, sold for $1,750,000.

Both the buyer and seller were represented by Joseph P. Thomas, a vice president investments, Adam Duncan, a senior associate, and Derek Soven, an associate, in Marcus & Millichap’s Fort Lauderdale office.

            “Stabilized multifamily assets in strong core locations continue to attract prospective buyers to Fort Lauderdale, especially when there is a clear path to continue to add value and increase rents. 

"The properties are located in strong rental markets and both had recent renovations and upgrades,” says Adam Duncan a senior associate in Marcus & Millichap’s Fort Lauderdale office.

Riverlane Condominiums was originally constructed in 1967 and was renovated and converted to condominiums in 2006.  The property has a unit mix of 12 one-bedroom/one-bathroom units and 12 two-bedroom/one-bathroom units. It is located at 3007-3011 North Andrews Avenue.

Middle River Gardens was constructed in 1957 and received upgrades to its kitchens and bathrooms and a new roof in 2011. The property has a unit mix of seven studios, eight one-bedroom units and one two-bedroom unit.  It is located at 2809 and 2901 Middle River Drive. 

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

Ryan Nee
Vice President / Regional Manager
Fort Lauderdale, FL
(954) 245-3400


Saturday, July 23, 2016

HFF closes sale of retail specialty center in Birmingham, AL


Colonnade Retail Center, Highway 280, Birmingham, AL
 
Richard Reid

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the Colonnade, a 127,031-square-foot retail specialty center in Birmingham, Alabama.   

HFF marketed the property on behalf of the seller, DRA Advisors LLC, on behalf of its institutional clients.  A group led by Shannon Waltchack purchased the asset free and clear of existing debt.

The Colonnade is located along Highway 280, Birmingham’s most heavily-trafficked retail corridor, and is surrounded by Birmingham’s most prestigious neighborhoods, including Mountain Brook, Vestavia Hills, Homewood and Hoover.

 The property is shadow-anchored by The Summit, Birmingham’s premier shopping destination, and offers the ideal amenity base for the surrounding office buildings that boast more than 100,000 daytime employees.

 At the time of sale, the property was 91 percent leased to a variety of national and regional retailers, including Gold’s Gym, Edgar’s Old Style Bakery, Taziki’s Mediterranean CafĂ©, Scottrade, Cracker Barrel, Johnny Ray’s BBQ, Jimmy John’s, Asian Rim Sushi Company, Drapery Studio, Teach Me Beauty and Schaeffer Eye Center. 

Jim Hamilton
The HFF investment sales team representing the seller was led by senior managing directors Richard Reid and Jim Hamilton.

“The Colonnade is a Birmingham landmark, and the transaction represented a rare opportunity to acquire a piece of irreplaceable real estate at the epicenter of Birmingham’s most dominant retail corridor,” Reid said.

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

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com



HFF closes sale of vacant grocery store in California Central Coast


Nick Foster

 NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the leasehold position in a 63,737-square-foot vacant building that is part of a retail power center in the California Central Coast community of Arroyo Grande.

HFF marketed the property on behalf of the seller, Haggen Property Holdings, LLC.  PAQ, Inc. purchased the asset for an undisclosed price. The buyer will operate and manage the store under the Food 4 Less banner.

Completed in 1999, the building formerly housed a Haggen Food & Pharmacy Store.  It is located inside the 467,000-square-foot Five Cities Center retail power center, which is home to mix of national tenants, including Wal-Mart, Trader Joe’s, Regal Cinemas and Pier 1 Imports.

 The asset is located at 1132 West Branch Street in the South 101 corridor just off Highway 101 at the intersection of West Branch and Rancho Parkway in central Arroyo Grande.

Jonathan Metcalfe
The HFF investment sales team representing the seller was led by Nick Foster and Jonathan Metcalf.

“We continue to see significant demand for our supply of quality grocery retail boxes up and down the West Coast,” Foster said.  “This property was highly sought after, as it is an integral piece of one of the most dominant shopping centers in the San Luis Obispo County area.”

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

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


HFF secures $7.43 million acquisition financing for industrial warehouse in Durham, NC

  
3508 North Tri-Center Boulevard Warehouse, Durham, NC

 
Travis Andeerson
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $7.43 million in financing for 3508 North Tri-Center Boulevard, a 272,396-square-foot industrial warehouse building in Durham, North Carolina.   

HFF worked on behalf of the borrower, a partnership between Trinity Capital Advisors and SilverCap Partners, to place the floating-rate loan with AloStar Bank of Commerce. Loan proceeds were used to acquire the property and fund capital improvements to execute the borrower’s business plan.

Located west of Research Triangle Park, 3508 North Tri-Center Boulevard is in the RTP/I-40 submarket, the largest industrial submarket in Raleigh-Durham.  The property is situated just off Highway 55 with access to Interstates 40 and 540, Highway 147 and Raleigh-Durham International Airport. 

The warehouse features ESFR sprinkler systems, 180’ truck court depth, 4,500 square feet of office space, 26 cushioned dock-high loading doors and one 14’ wide drive-in-door with the potential to add four additional docks.

Cory Fowler
The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler. 

“Tenant demand continues to grow in the tightening RTP/I-40 submarket, which now boasts an occupancy north of 95 percent,” Fowler said. “Given the ideal location and the partnership’s strategic business plan, the property is positioned well to benefit from the continued demand.”

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

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


HFF closes $23.5 million sale of Class A office building in Raleigh-Durham, NC

  
Trinity Place, 1201 Edwards Mill Road, West Raleigh submarket of Raleigh-Durham, NC

Ryan Clutter
 CHARLOTTE, NC  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $23.5 million sale of Trinity Place, a four-story, 114,547-square-foot, Class A office property located in the West Raleigh submarket of Raleigh-Durham, North Carolina.

HFF marketed the property on behalf of the seller, an institutional fund manager, and procured the buyer, Origin Investments. 

Trinity Place is located at 1201 Edwards Mill Road about one mile from Interstate 40, a primary artery connecting the property to the affluent neighborhoods of West Raleigh and RDU International Airport. 

The property is adjacent to Carter-Finley Stadium and the PNC Arena, home to the Carolina Hurricanes NHL hockey team and the North Carolina State University basketball team.

 Additionally, more than five million square feet of retail amenities are within a three mile radius of Trinity Place.  Tenants at the fully-leased property include RSM McGladrey, the public relations firm Capstrat and the IT services firm TekSystems.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey, managing director Ralph Smalley and associate director Christopher Lingerfelt.

Scot Humphrey
“Trinity Place was very well received by the marketplace demonstrating the strength and appeal of the Raleigh office market to institutional investors yet again,” said Clutter.  

“We believe we will continue to see strong interest in our Raleigh offerings through the remainder of the year and into 2017.”

“One of the reasons this property really stood out among investors is that Trinity Place features several examples of creative space designed to attract millennials,” added Humphrey.  

“We have found that creative space in suburban office buildings tends to heighten interest and that’s a trend that’s likely to continue in the years ahead.”

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

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


29th Street Capital Expands to Salt Lake City; McKay Winkel to Source Multifamily Deals


McKay Winkel
Salt Lake City, UT - McKay Winkel has joined 29th Street Capital as Acquisition Director for Salt Lake City. Winkel is responsible for all facets of the privately-held real estate investment and advisory firm’s activity in the Salt Lake market.

McKay will lead all multifamily acquisitions and asset management strategies in Salt Lake City, while also assisting Vice President of Acquisitions Jay Neal with certain aspects of 29SC’s growing Denver portfolio.

From growing up around Salt Lake, McKay brings an immense amount of knowledge and familiarity with the area’s apartment market, as well as a strong network of connections.

“I’ve known McKay for quite some time and am extremely excited to have him join us and expand our national footprint by opening our 11th office,” said 29th Street Capital Managing Director Robert Bollhoffer. “McKay has exceptional training and a great fundamental understanding of the multifamily acquisition and management process. We look forward to growing our platform in Salt Lake City with him.”


Robert Bollhoffer
Prior to 29SC, McKay was the Senior Analyst at Consolidated Investment Group in Englewood, Colorado, where he led the underwriting of multifamily, industrial and real estate development. His role also involved due diligence, new deal sourcing, hold/sell analysis, budgeting and market research. 

Additionally, he spent numerous years in the manufactured housing industry in acquisitions and portfolio management.

McKay obtained his MBA from the University of Wisconsin-Madison with an emphasis in Real Estate and Urban Land Economics. He received his bachelor’s degree from Brigham Young University with a specialization in finance. He currently resides in Salt Lake with his wife and three children, and is an avid skier in his spare time.

“This is the perfect opportunity. To work for an active, smart group like 29th Street Capital in a market as well positioned as Salt Lake is incredible,” Winkel said. “Salt Lake has so much to offer – robust employment, accessible world-class amenities, and a booming downtown. We’re going to be busy.”

For investment inquiries, contact Stan Beraznik, Founder and Managing Principal at 29th Street Capital 415.643.6875 | sberaznik@29thstreetcapital.com

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

Terri Thornton
Partner, Thornton Communications

p:404-932-4347 | e:Terri@TerriThornton.com | w:www.TerriThornton.com