Thursday, October 17, 2013

Charter Realty and Regency Centers Purchase Fellsway Plaza in Medford, MA


Fellsway Plaza, Medford, MA
 
Paul Brandes
MEDFORD, MA--(BUSINESS WIRE)-- Charter Realty & Development Corp. and Regency Centers Corporation (NYSE:REG) closed on the acquisition of Fellsway Plaza, a 150,000-square-foot neighborhood center anchored by a recently constructed Stop & Shop.

Located in Medford, Mass., the property was acquired from Berenson Associates of Boston through a joint venture between Charter and Regency. Permanent and development financing for the transaction was provided by PNC Bank. Hank Blake of Blake Commercial Property Group represented the buyer in this transaction.

Dan Zelson
 “Fellsway Plaza is an iconic infill location in the Boston metro area that cannot be replicated; exactly the kind of property we will continue to target,” said Paul Brandes, principal of Charter.

Constructed in multiple phases dating back to the 1950s, Fellsway Plaza has not changed hands since its original ownership built the property, which has always served as the gateway retail location for consumers traveling south on the Fellsway toward Boston. Stop & Shop at this location has consistently outperformed the other area grocers serving this trade area.

Barry Argalas
“We are excited to add this high quality asset to our growing portfolio and look forward to expanding our footprint within the Boston MSA,” said John Hricko, vice president and regional officer at Regency Centers.

Dan Zelson, principal of Charter adds, “Our redevelopment plans make this the type of project tenants are seeking in today’s marketplace. There are few opportunities of this nature.”

A modern theme will update the building’s aesthetics, while planned upgrades in existing tenancies will reinvigorate the property’s tenant mix. The common areas will be renovated with plantings and pedestrian scale elements to further enhance the shopping environment.

John Hricko
Slated to begin in the spring of 2014, construction will include a new satellite building along the property’s frontage. Charter will be responsible for development, property management and leasing on behalf of the joint venture.

“We truly look forward to working with Charter and believe our joint venture will be quite successful in implementing our strategies to upgrade the facility,” said Barry Argalas, senior vice president of national transactions at Regency Centers. “We fully expect this asset to be representative of other high quality properties in the Regency portfolio.”

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

Paul Brandes, 914-701-4002
Principal
or
John Hricko, 610-747-1205
Vice President, Regional Officer


Cohen Commercial Realty Signs Dr. Tim Willingham to New Lease in West Palm Beach, FL


Emporium Shoppes, Military Trail and Okeechobee Boulevard, West Palm Beach, FL

West Palm Beach, FL— Bryan S. Cohen and Allan Carlisle of
Bryan S. Cohen
Cohen Commercial Realty, Inc., announced the signing of Dr. Tim Willingham, to lease a 2,355-square-foot unit at Emporium Shoppes located on the northwest corner of Military Trail and Okeechobee Boulevard. Cohen Commercial Realty, Inc., represents the tenant. They join Tuesday Morning, The Vitamin Shoppe, Zuccarelli’s Italian Kitchen and Farmer’s Market.

Allan Carlisle
Dunkin Donuts Takes 3,000 SF at Lantana Village Square

Lantana, FL— Bryan S. Cohen, Allan Carlisle and Travis Langhorst of Cohen Commercial Realty, Inc., announced the signing of Dunkin
Donuts, to lease a 3,000-square-foot outparcel at Lantana Village Square located on the northwest corner of U.S. Highway One and Hypoluxo Road. Cohen Commercial Realty, Inc., represents the landlord, Equity One, and Alex Karas with Cap Rate Group represents the tenant. Dunkin Donuts joins K-Mart, Winn-Dixie and Bank of America.
  
Travis Langhorst
Half Price Furniture Warehouse Leases 3,887-SF Endcap at Village Marketplace in West Palm Beach, FL

West Palm Beach, FL— Bryan S. Cohen and Allan Carlisle of
Cohen Commercial Realty, Inc., announced the signing of Half Price Furniture Warehouse LLC, to lease a 3,887-square-foot endcap at Village Marketplace located on the northwest corner of Okeechobee Boulevard and Haverhill Road. Cohen Commercial Realty, Inc., represents the landlord. There they join Guitar Center, Family Dollar and La Brasa Rotisserie & Grill.

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

Jamie Crocker
561.471.0212 phone
561.471.5905 fax

Taylor & Mathis Orlando Announce Over 10,000 SF in Lease Transactions in Central Florida


Primera Tower Two, Lake Mary, FL

Damien Madsen
ORLANDO, FL --  Damien Madsen, Principal of Taylor & Mathis Orlando announced today the completion of over 10,000 square feet in leases in Lake Mary and Maitland.

 Damien Madsen and Darryl Hoffman recently completed two leases totaling 6,600 square feet in Lake Mary including one lease totaling 3,696 square feet in Tower I at Primera for Phacil, Inc. and a 2,904 square foot lease for Michael Baker in Tower II at Primera. 

Darryl Hoffman
In Maitland, Madsen and Hoffman finalized a 3,500± SF lease for the Recovery Village at the Point 100 building.  Taylor & Mathis represented the Landlord in these transactions.

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

Buffy Gillette
222 W. Maitland Blvd
Maitland, FL  32751
407.622.6699

NAI Realvest Negotiates Five Leases totaling 27,457 Square Feet of Industrial space at Goldenrod, Hanging Moss and Monroe CommerCenters in Central Florida


Goldenrod CommerCenter, 1476 North Goldenrod Road, Orlando, FL


Michael Heidrich
ORLANDO, FL– NAI Realvest recently completed five lease agreements, including new, renewal and expansion leases, totaling 27,457 square feet at Goldenrod, Hanging Moss and Monroe CommerCenters in Orange and Seminole counties.

 NAI Realvest Principal Michael Heidrich represented Landlord Monroe North SPE, LLC in a lease renewal agreement with ABM Building Services LLC formerly Linc Services Co. for 10,786 square feet at Monroe CommerCenter North, 4150 Church St. in Sanford.  Katie Trott of CNL Commercial represented ABM.

Hanging  Moss CommerCenter, Orlando, FL
At Monroe CommerCenter South, Heidrich represented Monroe South SPE, LLC, in a renewal and expansion lease agreement with Advantage Medical Systems, Inc. who occupies 4,320 square feet in Suite 1029 but also expanded into Suite 1021 with 2,160 square feet.

 Heidrich also negotiated a renewal of  6,000 square feet in suites 440-460 occupied by Automatic Racing, LLC at Hanging Moss CommerCenter representing landlord Hanging Moss SPE, LLC.


Jason Schrago
  Jason Schrago of CNL Commercial represented the tenant.    In other business for the landlord at Hanging Moss, Heidrich leased 2,000 square feet to a new tenant, Stagg, Inc., a landscape maintenance and irrigation firm.

 A lease renewal was negotiated by Heidrich on behalf of the landlord Goldenrod SPE, LLC at Goldenrod CommerCenter, 1476 N. Goldenrod Rd.  Tenant Mobile Oval Auto Repair LLC occupies Suite 325 with 2,191 square feet. 
  
For a complete copy of the company’s news release, please contact:

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

NAI Realvest Negotiates Sale of 1.25 Acre Retail Lot in Oviedo, FL for $665,000


Former Bruster's Ice Cream Shop, 1024 Lockwood Boulevard, Oviedo, FL

George Viele
ORLANDO, FL – NAI Realvest recently negotiated the $665,000 sale of 1.25 acres of retail land, the former site of a Bruster’s Ice Cream shop, at 1024 Lockwood Blvd. in Oviedo.  

 George Viele, associate at NAI Realvest, negotiated the transaction representing the seller, Bank of America, NA of Baltimore.

The buyer UP Fieldgate US Investments-Lockwood Blvd. LLC, was represented in the sale by Jared B. Ettinger of Berkshire Realty LLC.    

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

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

NAI Realvest Negotiates New and Renewal Leases at the Citadel International III in southeast Orlando, FL


Citadel International III, 5950 Hazeltine National Drive, southeast Orlando, FL

Mary Frances West
ORLANDO, FL – NAI Realvest recently completed three lease agreements for office space totaling 23,605 square feet at the Citadel International III office building located at 5950 Hazeltine National Drive in Southeast Orlando.

 Senior Associate Mary Frances West, CCIM and Matt Cichocki, principal, negotiated the lease transactions on behalf of the landlord, Citadel Partners, LTD., of Groveland, Fla. 

 The U.S. Dept of Homeland Security, a tenant in the building since 2002, renewed its lease of suite 140 with 19,905 square feet for another long-term.  


Matt Cichocki
A new tenant, Guidance Software Inc., a Pasadena, Calif.-based firm globally recognized as a leader in digital forensics, cyber security and e-discovery solutions, has leased suite 620 with 2,876 square feet.   John Gay of Cresa Orlando and Carlo Brignardello of Cresa Los Angeles represented the tenant.

 Altenesol LLC renewed its lease of suite 290 with 824 square feet.

 NAI Realvest handles management and leasing of the Citadel International III.

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

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