- $16,190,000. $970,000 for the 8th Avenue Shopping Center in Palmetto, Florida,
- $1,720,000 for the Mary Matha Shopping Center in Fort Pierce, Florida, $1,200,000 for the Dollar General in Apopka, Florida,
- $1,000,000 for the Dollar General in Orlando, Florida,
- $1,100,000 for the Shoppes of East Deltona in Deltona, Florida,
- $1,200,000 for the Shops of 7th Street in Miami, Florida,
- $4,000,000 for the Port 95-1 Ltd Industrial Building in Hollywood, Florida and $5,000,000 for the Merrill Industrial Center in Fort Lauderdale, Florida.
Wednesday, January 25, 2012
MIAMI, FL, Jan. 25, 2012 -- Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of
Brad Cox, CCIM, CPM, Company Vice President, secured financing for the 8th Avenue Shopping Center in the amount of $970,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company.
The permanent, fully-amortizing, full-recourse loan has a term of 15 years, based on an interest rate of 5.75%, and a loan-to-value of 66%. The borrower wanted a fully amortizing loan that would take advantage of today's low interest rates. The 12,100 square-foot retail complex was built in 2005 and is located at 1162-1190 8th Avenue West, Palmetto, Florida 34221.
Cox also secured financing for the Mary Matha Shopping Center in the amount of $1,720,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing loan has a term of 15 years, based on an interest rate of 5.5% and a loan-to-value of 50%. The 36,364+ square-foot multi-tenant retail shopping center was built in 1979 and was remodeled in 2011. Mary Matha Shopping Center is located at 3205-3223 South US Highway 1, Fort Pierce, Florida 34982.
Joe Dear, Company Vice President, secured financing for Dollar General Apopka in the amount of $1,200,000 through Thomas D. Wood and Company's correspondent relationship with The First Colony Bank. The permanent fully-amortizing, full-recourse loan has a term of 15 years, based on an interest rate of prime +1% and a loan-to-value of 70%. The borrower needed a construction loan for a build-to-suit single tenant facility. The 9,100 square-foot single-tenant retail building is in the process of being built and is located at 1712 Rock Springs Road, Apopka, Florida 32712.
Dear also secured financing for Dollar General Orlando in the amount of $1,000,000 through Thomas D. Wood and Company's correspondent relationship with The Ohio National Life Insurance Company. The permanent, fully-amortizing, non-recourse loan has a term of 15 years, based on an interest rate of 5.50% and a loan-to-value of 70%. The borrower wanted a long term, fixed rate loan secured by a recently completed Dollar General Store. The 9,100 square-foot single-tenant retail building was built in 2011 and is located at 7965 Valencia College Lane, Orlando, Florida 32825.
Jeff Schnupp, Company Vice President, secured financing for the Shoppes of East Deltona in the amount of $1,100,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing loan has a term of 15 years, based on an interest rate of 5.625% and a loan-to-value of 67%. The 8,450 square-foot multi-tenant retail strip center was built in 2009 and is located at 121 Howland Boulevard, Deltona, Florida 32738.
Thomas D. Wood, Jr., Company President, secured financing for the Shops of 7th Street in the amount of $1,200,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing, full-recourse loan has a term of 20 years, based on an interest rate of 5.750% and a loan-to-value of 67%. The borrower wanted a fully amortizing loan that would take advantage of today's low interest rates. The 14,700 square-foot retail strip center building was built in 1979 and is located at 2815 NW 7th Street, Miami, Florida 33125.
Marshall Smith, Company Executive Vice President, secured financing for Port 95-1 Ltd, through Thomas D. Wood and Company's correspondent relationship with Kansas City Life Insurance Company in the amount of $4,000,000. The fixed-rate loan has a term of 10 years, based on a 25-year amortization, with a loan-to-value of 75%. The borrower wanted to refinance the loan to take advantage of today's low interest rates before it matured in another year and a half. The 76,800 square-foot multi-tenant industrial complex was built in 1992, and is located at 3611-3655 SW 30th Avenue, Hollywood, Florida 33312.
Steven H. Wood, Company Chief Operating Officer, secured financing for Merrill Industrial Center in the amount of $5,000,000 through Thomas D. Wood and Company's correspondent relationship with Symetra Life Insurance Company. The 10 year, 25 year amortizing, non-recourse loan is based on an interest rate of 5.40% and a loan-to-value of 69.44%. The borrowers refinanced a matured loan. The 134, 342 square-foot industrial complex sits on 8.46 acres of land and was originally built in 1969/1992. Merrill Industrial Center is located at 3400-3406 SW 26 Terrace, Fort Lauderdale, Florida 33312.
For further information, please contact:
Director of Marketing and Public Relations
Brad Cox, CCIM, CPM
(407) 937-0470 ext. 7
(407) 937-0470 ext. 3
Thomas D. Wood Jr.
Executive Vice President
Steven H. Wood
Chief Operating Officer
CLEARWATER, FL (Jan.25, 2012) – Matrix Medical Network, a provider of health assessments to members of Medicare Advantage health plans, is opening a marketing outreach center in Clearwater with plans for at least 150 employees.
Headquartered in Scottsdale, Ariz., Matrix has leased 20,363± square feet in the 92,225-square-foot Bayview Pavilion office building in Clearwater.
Alan Feldshue and Melanie Jackson of Colliers International Tampa Bay represented the landlord, Lightwave Drive, LLC. Matrix Medical Network was represented by Jarrett Dunaway of Mohr Partners out of Dallas.
Retained by Medicare Advantage health plans, Matrix’s nurse practitioners visit plan members in their homes to create comprehensive and all-inclusive health records for the health plan and for the member’s primary care physician. The nurse practitioners also provide members with health information specific to their needs to help them better maintain their health, comfort and lifestyle in their home.
Matrix Medical Network plans to be taking applications for positions at the new facility starting in April. The job requires interpersonal and phone skills, since the outbound callers will be explaining the Matrix Medical Network process to primarily elderly health plan members. Employees at the new Clearwater office will be setting up appointments throughout the country for the nurse practitioner visits.
“As a company that operates throughout the country, we can locate our call centers virtually anywhere,” said Jose Rodriguez, Matrix Vice President of Business Operations. “We selected the Tampa Bay area because we believe the people with the skills and talents we need to be successful are here.”
The office space, located at 15550 Lightwave Drive in Clearwater, was attractive to Matrix because of its central location, covered parking, large windows and open floor plan, all conducive to a quality operations center atmosphere. Matrix’s lease increases the occupancy of the Bayview Pavilion building to 91 percent.
“Large Class A office space that’s well maintained and centrally located in the Tampa Bay area is very appealing to new companies entering the market,” said Alan Feldshue, Managing Director of Office Services for Colliers International Tampa Bay. “Matrix Medical Network’s lease is an example of that.”
To apply for a position, or to learn more about the opportunities, potential applicants should visit www.MatrixHealth.net or can call 877-564-3627.
Bayview Public Relations
(727) 895-5030, ext. 101 (office)
(813) 352-1325 (cell)
NAI Realvest Negotiates Renewal Lease of 12,897 SF of Industrial Space at Springview CommerCenter in DeBary, FL
DeBary, FL – NAI Realvest recently negotiated a lease renewal for 12,897 square feet of industrial space at Springview CommerCenter in DeBary.
Michael Heidrich, principal in the Maitland-based firm, negotiated the transaction on behalf of the landlord, Springview CommerCenter LLC.
The tenant, Avatar Relocation, Inc. of Longwood, renewed its lease of Suite 6 at 290 Springview Commerce Drive in the center located in the Springview Industrial Park off Shell Road.
For more information, please contact:
Michael Heidrich, Principal, NAI Realvest 407-875-9989, firstname.lastname@example.org
Patrick Mahoney, President, NAI Realvest 407-875-9989, email@example.com
Beth Payan or Larry Vershel, LV Communications, 407-644-4142, Lvershelco@aol.com
ORLANDO, Fla. – NAI Realvest, which ranks as one of Central Florida’s largest, fully integrated commercial real estate companies, has launched an Energy Site Selection Team to assist alternative energy producers with locating suitable sites for solar, waste-to-energy, and biomass production facilities.
George Livingston, chairman at NAI Realvest, said alternative energy production is an increasingly important industry segment with exceptional growth potential.
“The solar market is changing,” Livingston said.
“While the U.S. Government subsidies have been removed, the cost of panels has declined dramatically and may continue to do so over the foreseeable future,” Livingston explained.
As solar technology advances and solar panel costs decline, the industry will compete head to head with fossil fuel producers on a cost basis, Livingston explained.
“Environmental concerns over coal and nuclear power will also increase demand for solar power, which is clean and renewable,” he said.
Increasing fuel costs will drive the overall cost to produce electricity higher, which makes solar more attractive.
“It is likely that ‘solar utilities’ will flourish in the coming years,” Livingston said.
But the biggest advantage is a secret.
“Solar power production requires a short time to permit, build and bring online, and life cycle maintenance is very low-cost,” Livingston said.
A solar farm can be permitted, constructed and brought online in a year or less, Livingston said.
For more information, contact
George Livingston, Chairman, NAI Realvest 407-875-9989 firstname.lastname@example.org
Patrick Mahoney, President, NAI Realvest 407-875-9989 email@example.com
Larry Vershel or Beth Payan Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com
MIAMI, FL – HFF announced today that it has been named to market for sale 400 Duval Street, a 32,199-square-foot, urban retail property in Key West, Florida.
HFF is marketing the property on behalf of the seller, a venture comprised of Longwharf Real Estate Partners and JBK Capital, LLC. The property is listed for sale without a formal asking price free and clear of debt.
400 Duval Street is situated in the heart of Key West on a 0.80-acre site at the hard corner of Duval and Eaton Streets. The multi-tenant property is fully leased to national tenants including Chico’s, Claire’s Boutique, RadioShack, Subway, Fresh Produce and Earthbound Trading Company, and has enjoyed a long history of strong occupancy and long-term tenure. Originally built in 1924, 400 Duval Street is the largest multi-tenant retail property with significant frontage along Duval Street.
The HFF investment sales team representing the seller is led by managing director Danny Finkle and director Luis Castillo. Claude Gardner of Prudential Knight & Gardner Realty is co-marketing the listing with HFF.
“400 Duval Street represents a unique opportunity to acquire a proven ‘high-street’ retail property with prominent national tenancy in one of the highest barrier to entry markets in the U.S.,” said Finkle.
“Key West’s global appeal and tourism draw combined with the strong tenant sales ranging from $570 to $720 per square foot at the property, and significant value creation potential, make this one of the most attractive offerings in the market today.
“ In-fill ‘high-street’ retail is an asset class that is currently in favor given its propensity to outperform the general market and this property should similarly benefit over the long term,”
DANIEL FINKLE LUIS CASTILLO
HFF Managing Director HFF Director
(305) 448-1333 (305) 448-1333
HFF Associate Director, Marketing
NEW YORK, NY – HFF announced today that Robert Rizzi has joined the firm as a managing director in its New York office. Mr. Rizzi will focus on equity and joint venture capital as well as investment sales transactions in the New York metropolitan area.
Prior to joining HFF, Mr. Rizzi was a managing partner at Broad Street Advisors where he closed more than $4 billion in transactions since co-founding the firm in 2000.
Mr. Rizzi has closed a broad array of product and transaction types, with both private and institutional clients such as American Realty Capital Partners, AREA Property Partners, Buchanan Street Partners, Clarion Partners, Deutsche Bank, GE Capital, Invesco Real Estate, Investcorp, Montecito Medical, Morgan Stanley, Orion Residential, PM Realty, RREEF Funds, Starwood Capital, and USAA Real Estate, among others.
He began his career at Harbert Realty Services in Tampa as a regional markets manager in the firm’s Investment Services Group. Mr. Rizzi has a Master of Business Administration degree and a Bachelor of Science degree in Accounting from The University of South Florida.
“Rob has a diverse background executing a wide range of investment sales, debt and equity transactions not only in the New York metropolitan area but on a nationwide basis and we are looking forward to having him as a member of our team,” said Michael Tepedino (middle left photo), senior managing director in HFF’s New York office.
MICHAEL J. TEPEDINO
HFF Senior Managing Director
KRISTEN M. MURPHY
HFF Associate Director, Marketing
HFF marketed the offering on behalf of the seller, AIG Global Investment Group. The Galman Group purchased the assets for $16.147 million.
The properties are part of the second pool of assets HFF has marketed and sold for AIG Global Investment Group. In July 2011, HFF closed the $241.5 million sale of a 2,185-unit multi-housing portfolio in central New Jersey.
These assets are 94 percent leased overall. Individual property details are below:
Red Lion Apartments, Philadelphia, PA 120 Units
Cheswick Apartments, Philadelphia, PA 111 Units
The HFF team representing AIG Global Investment Group included senior managing directors Jose Cruz (middle left photo) and Andrew Scandalios (lower right photo), directors Jeffrey Julien and Kevin O’Hearn and associate director Mike Oliver.
“These are very good core plus properties in stable markets,” said Cruz. “The Galman Group will do very well with these properties over the long term.”
AIG Investments comprises a group of international companies, which provide investment advice and market asset management products and services to clients around the world. AIG Investments is a worldwide leader in asset management, with extensive capabilities in equity, fixed income, hedge funds, private equity and real estate.
The Galman Group owns and manages more than 6,000 apartment communities and condominiums in the Delaware Valley region.
JOSE R. CRUZ ANDREW G. SCANDALIOS