Sunday, August 30, 2015

HFF secures $10.2 million financing for grocery-anchored shopping center in central New York


Hannaford Plaza, 40 Kellogg Road, New Hartford, NY

Michael Klein
NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $10.2 million in acquisition/bridge financing for Hannaford Plaza, a 110,732-square-foot, grocery-anchored neighborhood shopping center in the Utica suburb of New Hartford, New York.

HFF worked on behalf of the borrower, BH Kellog LLC, to arrange the three-year, floating-rate loan with Realty Finance Trust.  BH Kellog LLC is headed by a repeat client of HFF’s and is a shopping center owner based out of Monsey, New York.  The borrower was represented by Chaim Dahan Esq.

Anchored by Hannaford Bros., the primary grocery store in the market, and Rite Aid, Hannaford Plaza is 87.3 percent leased to Dollar Tree, John Latini Salon, Charlie’s Pizza, Dapper Dan Dry Cleaners, Wasabe Wok,

 The Liquor Loft and Tanning Bed.  Located on 12.6 acres, the asset has room for future development, and the borrower plans to build up to 8,000 square feet on a future pad site and add 40,000 square feet of self storage space.

Rob Hinckley
 The property is located at 40 Kellogg Road just off State Route 8, a major north-south artery for the greater Utica region.  The asset is located within a residential area with approximately 96,000 households within five miles.

The HFF team representing the borrower was led by director Michael Klein and managing director Rob Hinckley.

“The borrower was seeking a short-term loan with prepayment flexibility that would enable them to acquire and stabilize the property by extending the grocer’s short-term lease while leasing up the existing vacant space and shoring up the near-term roll,” Klein said.

  “Realty Finance Trust provided a competitive and flexible loan structure that will enable BH Kellog LLC to execute its business plan and unlock the value of this property.”

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

Saturday, August 29, 2015

$135 million sale of 525 West Van Buren in Chicago’s West Loop closed by HFF


525 West Van Buren, West Loop, Chicago, IL

 
Jaime Fink
CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 525 West Van Buren, a 522,809-square-foot, 16-story, Class A office tower located in Chicago’s West Loop.

HFF represented the seller, Northwood Investors, in the transaction.  AEW Capital Management, Inc. acquired the office tower for $135 million on behalf of one of its separate account clients.

525 West Van Buren is situated at the southwest corner of Van Buren and Canal Streets in the West Loop within Chicago’s central business district.  This location is adjacent to the Chicago Transit Authority’s elevated train system (“L”) and close to Union Station, Ogilvy Transportation Center and Interstate 290 providing tenants and commuters access to the entire metropolitan area.

 Completed in 2002, 525 West Van Buren features an on-site café, 40 indoor executive parking spaces, a mezzanine floor with a Wi-Fi lounge, conference center, fitness center with lockers and showers, and a bike room with storage for 56 bikes.

The HFF investment sales team representing the seller was led by senior managing directors Jaime Fink and Jeffrey Bramson and managing director Mark Katz.

“The property has true class A tenancy and also offers a great opportunity to lease up the vacant space as Chicago’s central business district office market continues to improve,” said Fink.

  For a complete copy of the company’s news release, please contact:
                   
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com



Marcus & Millichap Arranges Sale of 6,795-SF Net-Leased AutoZone Site in Tampa, FL


Mike Paspalakis
TAMPA, 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 an AutoZone ground lease, a 6,795-square foot net-leased property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $1,060,000.

Mike Paspalakis, associate, Nicholas Meoli and Michael Donaldson, both vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by Dustin R. Alvino, senior associate, in the firm’s Las Vegas office. 

AutoZone occupies an attractive, freestanding building with 2005 construction on a half-acre of land located at 8002 North Dale Mabry Highway in Tampa, Florida.

The property has excellent frontage on Dale Mabry Highway, a major north/south thoroughfare running through the heart of Tampa. It is ideally situated just south of a Walmart Supercenter in a dense retail corridor that includes PNC Bank, Burger King, Zaxby’s, Hudson’s Furniture, Family Dollar, LA-Z-Boy Furniture, 7-Eleven and many more.

“The seller had owned the property for 40 years prior to the sale, and was looking to retire,” says Paspalakis. “Due to our national marketing platform, we were able to secure a California-based investor within a short time frame who is in the process of expanding his single-tenant net-leased portfolio.”

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

 Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700

                    

RealtyTrac Reports Share of In-Foreclosure Sales Drops to 15-Year Low in July While Cash Sales Share Falls to Eight-Year Low

                                                                        

Daren Blomquist
IRVINE, Calif. – August 27, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its July 2015 U.S. Home Sales Report, which shows sales of properties in-foreclosure and cash sales were down from a year ago to multi-year lows while year-to-date U.S. home sales in 2015 are at an eight-year high, and the U.S. median home price in July was at an 82-month high.

“While the stock market may be on a roller coaster as of late, the housing market is still on solid ground, with the eight-year low in cash sales combined with the eight-year high in overall sales volume in the first half of the year evidence that housing is successfully transitioning from an investor-driven recovery to one that is drawing in traditional buyers as a good foundation for sustainable growth going forward,” said Daren Blomquist, vice president at RealtyTrac.

“That’s not to say there are no cracks in the foundation of this recovery, the top three of which are housing affordability — or lack thereof in some high-flying markets — along with overdependence on capricious cash buyers — both foreign and domestic — in some markets, and the persistent overhang of underwater homeowners who continue to represent heightened default risk given any future economic shockwaves.”

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

 Jennifer von Pohlmann
 Sr. Data PR Manager
 Office: 949.502.8300 ext 139

                            

Capital Square Realty Advisors Completes 152-Unit Multifamily DST Offering Near Tampa, FL


Louis Rogers
TAMPA, FL – Capital Square Realty Advisors, LLC announced its Delaware statutory trust offering, CSRA Candleglow Apartments, DST, comprised of Candleglow Apartments, a 152-unit multifamily community near Tampa, Florida, has been fully subscribed by investors.

“Candleglow Apartments is nearly 100 percent occupied with a waiting list, which bodes well for future growth in rental income,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

“Capital Square is bullish on multifamily properties like Candleglow Apartments that have the potential for immediate income growth and do not require substantial renovations. Finding a solid apartment community at a reasonable price in good condition is like finding a needle in a haystack.”

Rogers adds, “This is Capital Square’s 16th DST to be fully subscribed since inception in late 2012 and we look forward to continuing to provide investors with high quality real estate properties from different asset classes as we grow the DST platform.”

Candleglow Apartments, located at 1071 Candlelight Blvd. in Brooksville (greater Tampa area), is a garden-style community with 10 residential two-story buildings and a single-story clubhouse.

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

Julie Leber                                                                          
Spotlight Marketing Communications                 
949.427.5172, ext. 703                   

                                       

Central Tavern Receives Approval to Open in Downtown Winter Haven, FL

  
Winter Haven, FL — A new, upscale bar concept, Central Tavern, is coming to Downtown Winter Haven this fall

DTWH, LLC, the owners of 25 bar and restaurant franchise locations throughout Florida, has received approval from the city to begin construction on its latest venture.

 Work is now underway and Central Tavern is expected to open by the end of November at 273 W. Central Avenue.

“This will be unlike any of our other concepts,” said Tom Elliott of DTWH, LLC, which also owns the Paddywagon Irish Pub and Linksters Tap Room franchises. “Central Tavern will have a historic motif, including photos of old Winter Haven.”

“We met with Six/Ten several years ago and were intrigued by their vision for revitalizing the downtown region,” said Elliott. “We believe the area is quickly becoming a dynamic and highly desirable destination for dining and entertainment.”

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

Michelle Friedman Griffith
BoardroomPR
407-973-8555

Fastest WiFi in America to Come Standard at New Centex Community Sereno in Tampa, FL Area


Sean Strickler
Tampa, FL --- Sales are in full swing at Sereno, the newest Centex community in the Tampa area located on Bella Armonia Circle, just east of U.S. 301 and Sun City Center Blvd. in Wimauma.

Sereno, an ULTRAFi Community, is a first-of-its kind residential environment where every home is built to be a Smart Home and every resident will enjoy the fastest internet and WiFi speeds in North America.

Sean Strickler, division president for Centex and PulteGroup in the West Florida region, said homeowners at Sereno will enjoy up to an exclusive 1 Gigabit of internet and WiFi speeds (100 times faster than average broadband speeds) by the pool, on the trails, in the clubhouse and at the playground.

Strickler said homebuilder builds new one and two-story homes with two-car garages at the gated community where home buyers choose from four distinct floor plans.

New Centex homes with two to six bedrooms and two to three bathrooms are priced from the low $200s at Sereno, and range in size from 1,674 square feet of living area to 2,662 square feet.

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


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

Friday, August 28, 2015

Bull Realty Brokers $2.8 Million Sugarloaf Walk Shopping Center Sale in Lawrenceville, GA


John Harrison
ATLANTA, GA — Bull Realty brokered the sale of Sugarloaf Walk Shopping Center, a 22,685 sq ft retail strip center in Lawrenceville, GA. The sale closed on July 17, 2015 for $2.825 million.

John Harrison and Frank Meyrath of Bull Realty’s National Retail Group represented the seller, Sugarloaf Walk Shopping Center, LLC, a private investment group based in Houston, TX with a satellite office near Athens, GA.

“Our marketing generated multiple offers,” said Meyrath. Adding, “What was amazing is that competition got quite heated as a New York area investor outbid a Chicagoan and a local Atlanta based investor.”

The property is well located in Gwinnett County with strong traffic counts and over 69,000 population within a 3 mile trade area.

The buyer was Sugarloaf Parkway, LLC.

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

Melissa Henry
Communications Associate
Bull Realty, Inc.
50 Glenlake Pkwy, Suite 600
Atlanta, GA  30328

404-876-1640 x 110

Bull Realty Brokers $4.9 Million CVS Sale in Cullman, AL


 
Michael Bull
 ATLANTA, GA —Bull Realty brokered the sale of a CVS in Cullman, AL, a 13,600 sq ft freestanding retail building. The sale closed on August 5, 2015 for $4.9 million.

Michael Bull, CCIM with Bull Realty, represented a local 1031 Exchange buyer, Guggie H, LLC, in the purchase of a triple net investment opportunity, with a corporate guaranteed lease to CVS with 25 years on primary term.

Strategic 1031 Exchange Advisors, LLC acted as a Qualified Intermediary. The seller, LL Cullman AL, LLC, was represented by John Glass with Marcus & Millichap.

“The purchaser utilized a 1031 to exchange from an older asset with a low cash flow in San Francisco into a newer safe income-stream property,” said Bull.

Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com). The popular weekly show is broadcast on 40 radio stations nationwide, iTunes, YouTube and CREshow.com.

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

Melissa Henry
Communications Associate
Bull Realty, Inc.
50 Glenlake Pkwy, Suite 600
Atlanta, GA  30328
404-876-1640 x 110
Michael Bull AL License #83872


Thursday, August 27, 2015

HFF closes $35.5 million sale of mixed-use development site in Miami, FL


Manny De Zarraga
MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $35.5 million sale of Miami International Centre, a 20.89-acre former yacht manufacturing facility and existing 90-slip marina with access to the Miami River in Miami, Florida.

HFF marketed the asset on behalf of the seller, Alecta Real Estate Investment (Alecta).  Interterra Investments Group purchased the offering.

Miami International Centre is poised to be home to a world-class mixed-use development featuring retail, hotel, residential, office and/or marina uses. 

At almost 21 acres, it is the largest land parcel located immediately east of the Miami International Airport and is directly across from the Miami Intermodal Center, Florida’s most significant rail transportation hub.  

The site is part of the recently-created 220-acre Palmer Lake Metropolitan Urban Center zoning district established by Miami-Dade County to foster the creation of a modern urban center.



Maurice Habif
Miami International Centre consists of the Upland Parcel, which houses six warehouse buildings totaling 360,626 square feet, and the Marina Parcel, which has 37,982 square feet of existing buildings plus 90 covered boat slips.  The site has access to Biscayne Bay via its proximity to the Miami River.

The HFF capital markets team representing Alecta was led by executive managing director Manuel De Zárraga, associate director Maurice Habif, managing director Jaret Turkell and director Marty Busekrus.

“With its proximity to Miami International Airport, the Miami Intermodal Center, the Miami River and the Dolphin Expressway (SR 836), we feel that the Miami International Centre site is the most highly-connected development opportunity in Florida,” Habif said.  

“With the recent zoning changes to Palmer Lake, the site and the immediate area are ready to become the next great hub of development within South Florida.”

Speaking on the Miami International Centre, Interterra Investments Group head Jorge Hector Bernstein has voiced that he considers the property the epicenter of Palmer Lake, and the property’s proximity to an international airport ties into one of his personal mottoes: Look for today's busiest airports, and you will find the great urban centers of tomorrow.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com