Friday, September 2, 2011
Strauss and Wells have worked together to successfully execute several retail transactions in the $10 million and above price range in the past few years, which has generated outstanding results for a wide range of investors nationwide.
“This property’s prime location will attract well-qualified investors seeking stable returns in an excellent market,” says Strauss.
“In spite of the stalled economy, single-tenant retail properties remain highly sought-after among investors. This asset is located just 10 minutes from historical Chapel Hill, which draws significant demand from students and staff at Duke University.
“In addition, it is proximate to other credit-rated tenants such as Wal-Mart, Best Buy, Michael’s Arts & Crafts and Marshall’s. We expect to generate an ample number of qualified in-state and out-of-area buyers,” he notes.
“The lease for this 58,085-square foot property will be a corporate-backed,” adds Wells. “There are currently 11.5 years remaining on the lease, which has four five-year options.”
Located at 3212 Mount Moriah Rd., the site is occupied by Dick’s Sporting Goods.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
Sean Westcott, director of leasing and property management for Emerson International, negotiated all four leases on behalf of the landlord, Emerson International.
Two of the agreements are for new long term leases.
Belmont Management, Inc. leased 895 square feet of office space at Louisiana Office Park (top left photo) on Louisiana Ave. in Winter Park. PHXX-E Inc. leased 1,786 square feet of office space in Sanlando Center located at 2180 W. SR 434 in Longwood.
Westcott also negotiated two lease renewals at Sanlando Center (middle right photo) totaling 13,104 square feet of office space.Freedom Mortgage Co. renewed its lease of 11,004 square feet of office space. William Bywater of Bywater Companies participated in the lease agreement representing the tenant.
Xerox Corp. renewed its lease of 2,100 square feet of office space. Jones Lang LaSalle America participated in the transaction representing the tenant.
For more information, contact
Sean Westcott, Director of Leasing and Property Management, Emerson International, Inc. 407-834-9560 email@example.com;
Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; firstname.lastname@example.org;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 email@example.com.
HFF secures $7.5 million refinancing for multi-housing complex near UC Riverside campus in California
HFF will service the securitized loan through its Freddie Mac Program Plus® Seller/Servicer program. Loan proceeds replaced the existing floating rate debt on the property and included a cash-out component.
University Hills has four residential buildings situated on a 2.5-acre site at 140, 160, 180 and 200 West Big Springs Road in Riverside. The property is across the street from Goodwin’s, an organic grocery store, and close to the 60 and 91 Freeways.
Community amenities include a pool, recreation room and laundry rooms. Overall the property is 91.3 percent leased with 23 percent occupied by students.
The HFF team representing the University Hills Apartments, LLC was led by director Mark Erland and associate director Charles Halladay (middle right photo).
“The borrower was able to take advantage of an extremely low rate environment and lock in long-term fixed-rate financing,” said Halladay.
Mark J. Erland, HFF Director, (949) 253-8800, firstname.lastname@example.org
Charles W. Halladay, HFF Associate Director, (949) 253-8800, email@example.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
repriced 25 to 50 basis points.
The August pricing volatility varied as much as 200 basis points between balance-sheet lenders and the CMBS sources for similar loan opportunities - an unusually wide pricing differential.
Competition for low leverage apartment deals in primary markets, for example, dives into 4% for ten-year deals, 3.75% for seven-year deals and
below 3.5% for five-year deals -- all rates are at generational record lows.
Within the mortgage world, numerous factors account for such drastic mortgage rate volatility, but none more than economic uncertainty, both
nationally and globally.
And now that investors are returning from summer holidays and confronting Hurricane Irene issues, more volatility is expected as various quality of real estate is sorted into the correct pricing levels within
different regions of the county.
Ms. Jeanne Peck (top right photo) of The Real Estate Capital Institute indicates that, "The realty capital markets are on a very bumpy road filled with unexpected twists and turns, as well as deep potholes from troubled deals."
She suggests removing any volatility that an investor can is key, "Drive slowly and watch closely for obstacles will be the most prudent actions for navigating through the remainder of the year."
The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields.
The Institute posts daily and historical benchmark rates including treasuries,
The Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624
Contact: Jeanne Peck, Research Director