Wednesday, October 23, 2013

Taylor & Mathis Signs Farmers Insurance Exchange to 11,874 Square Foot Lease at Miramar Centre in Miramar, FL

Miramar Center III, 3601 SW 160th Avenue, Miramar, FL

Donna Korn
Miramar, FL, Oct. 23, 2013 --  Taylor & Mathis has signed Farmers Insurance Exchange to an 11,874 square foot lease at Miramar Center III (3601 SW 160th Avenue, Miramar, FL 33027). 

 Donna Korn and Jennifer Patterson of Taylor & Mathis brokered the transaction on behalf of owner MetLife. 

Co-brokers Robert Blumenthal and Bob Schneiderman of DTZ, a UGL Company represented Farmers. 

Located in Broward County, the 100,000 square-foot, Class A office building is located just off I-75 at Miramar Parkway West and Dykes Road.  MetLife also owns the adjacent Miramar Centre I.

Jennifer Patterson
“We are very pleased to have brought these two Class A office buildings to 94% occupancy,” stated T&M Director of Leasing Donna Korn.  “Tenants including Farmers Insurance find the buildings’ location at the Broward and Miami/Dade County line to be a significant asset to employee recruiting.”   

Taylor & Mathis completed two leases at MetLife’s Huntington Centre also located in Miramar just off of I-75 and Miramar Parkway East.

2801 & 2901 S.W. 149 Avenue, Miramar, Florida 33027

·         Magner International Corp  leased 2,224 Square Feet

Bob Schneiderman
Donna Korn of Taylor & Mathis brokered the transaction on behalf of owner MetLife; Co-broker by David Brown of Brown Commercial Real Estate Services, LLC represented Magner.

·         Automated Healthcare Solutions, LLC signed a 2,638 Square Foot Expansion

Donna Korn and Jennifer Patterson of Taylor & Mathis brokered the transactions on behalf of owner MetLife

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

Donna Korn

$10.7 Million Mixed-Use Building Trades Hands in Manhattan, NY

256 West 15th Street, Manhattan, NY

Peter Von Der Ahe
NEW YORK, NY,  Oct. 23, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of 256 West 15th St., a mixed-used building in Manhattan composed of  22 apartments and two retail units. The $10,750,000 sales price equates to $447,917 per unit.

            Peter Von Der Ahe, Joe Koicim, and Sean Lefkovits, all in Marcus & Millichap’s Manhattan office, represented the seller, a private Manhattan-based commercial real estate development firm. The buyer is a private investor.

Joseph Koicim
            “The building’s location and turnkey nature sparked a great deal of interest from the investment community,” says Koicim. “We conducted 32 property tours and received 13 qualified offers from investors ranging from 1031 exchange buyers to investors with foreign capital.”

            “The property was perfectly suited for the buyer’s need for a high cash-flow finished product,” adds Lefkovits. “The building’s proximity to Google’s New York office made it doubly attractive.” 

Sean Lefkovits
The property is located two blocks from the High Line, just steps from the entrance to the A, C, E and L subway lines at 14th Street and one block from the 1,2 and 3 lines.

            The building is approximately 25 feet by 88 feet and is situated on a 25-foot by 103-foot lot. The R8B-zoned property features 14 free market units, 13 of which have been fully renovated to a luxury standard. The unit mix includes two studios, 18 one-bedroom units and two 2-bedroom apartments.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Essex Realty Group Brokers Sale Of Mixed-Use Property located in Chicago, IL

1802 West Belmont, Roscoe Village Neighborhood, Chicago, IL
Doug Fisher
CHICAGO, IL – Oct. 23, 2013 - Essex Realty Group, Inc. is pleased to announce the sale of 1802 W. Belmont, a new construction mixed-use property located in Chicago’s Roscoe Village neighborhood.

Matt Welke
 The property is situated on the north side of Belmont Avenue, two blocks west of the heavily-trafficked six way intersection at Lincoln/Belmont/Ashland, is conveniently located along the Belmont CTA bus line and is within walking distance of the Paulina CTA Brown Line station. 

 The building contains three (3) condominium-quality apartments and one (1) first-floor commercial space.  The apartments feature open floor plans, hardwood floors, recessed lighting, 42-inch cabinets, stainless steel appliances, in-unit laundry, central heat and air, and private balconies. 

Jim Darrow
The commercial space is currently in “vanilla box” condition and includes a waiting area, reception desk, four private offices, kitchenette and bathroom.  The property also includes three (3) exterior parking spaces in the rear of the building.

Jordan Gottlieb
 Doug Fisher and Matt Welke of Essex were the listing brokers in the transaction.  Jim Darrow and Jordan Gottlieb of Essex represented the purchaser.  The price was approximately $1,000,000.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher
Essex Realty Group, Inc.

Regency Lakes Plaza Sale in Coconut Creek, FL Brokered by Marcus & Millichap

Regency Lakes Plaza, 5619 Regency Lakes Boulevard, Coconut Creek, FL

 COCONUT CREEK, FL, Oct.  23, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Regency Lakes Plaza, a  7,250 square-foot free-standing retail property located in Coconut Creek, FL. The asset sold for $1,500,000 which was just over $200 per square foot.

Douglas K. Mandel
Regency Lakes Plaza is located at 5619 Regency Lakes Boulevard in Coconut Creek, FL.

Douglas K. Mandel, a First Vice President Investments, and Robert Granda, an investment associate, in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami. 

 “The property was purchased by VCA Animal Hospital, a nationally recognized animal hospital which operates more than 600 animal hospitals in 42 states across the nation,” says Granda. 

“VCA is relocating from a location a few miles away and was attracted to the property due its condition, location on State Road 7, as well as the strength of the surrounding demographics.”

Robert Granda
“The city of Coconut Creek is experiencing a tremendous amount of growth due to the number of current and future developments in the area as well as the city’s central location to other affluent markets such as Boca Raton, Coral Springs, Deerfield Beach and Parkland,” he adds. 

Regency Lakes Plaza was built in 2000 and was completely renovated in November 2012.   The property is located within a strong retail corridor comprised of national tenants such as Publix, Bank of America, Walgreens, Mobil, Shell and Firestone. 

The plaza is also just minutes from the Seminole Hard Rock Casino Coconut Creek, which just completed an outdoor retail and restaurant expansion in February 2012 and has future plans to develop a hotel, convention space, and an outdoor spa/pool area.  

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

Gregory Matus
Regional Manager and Vice President
Fort Lauderdale, FL

(954) 245-3400

Marcus & Millichap Arranges Sale of 3 Lots in Miami, FL for $5.4 Million

Three lots sold near Miami Design District, 2751 Biscayne Boulevard
Biscayne Boulevard and NE 28th Street, Miami, FL
Biscayne Bay in foreground

Ryan T. Shaw
MIAMI, FL, Oct. 23, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of three land parcels totaling 27,750 square feet in Miami. The asset sold for $5,400,000.

Ryan T. Shaw, a Senior Associate in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami.  Shaw also represented the buyer, a limited liability company from Sunny Isles, FL.

“The property sits on NE 28th Street and Biscayne, a block from Biscayne Bay in the Edgewater area of Miami.

“The property is in the middle of a multi-billion dollar renaissance from several large development projects. Its close proximity to luxury condominiums, national retailers and access to the interstate makes this a perfect location for a mixed-use project, offering residential and retail for other national tenants that are entering the market,” says Shaw.

The property is located on the southeast corner of Biscayne Boulevard and NE 28th Street in close proximity to the Design District and Midtown Miami.

The zoning under Miami 21 is T6-36A-O allows for the development of 333,000 square feet and a total height of 36 floors. The zoning also allows for approximately 96 condominium units. The land parcels are located at 2751 Biscayne Boulevard in Miami, FL. 

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

Kirk A. Felici
First Vice President and Regional Manager
Miami, FL
(786) 522-7000

CBRE Orlando Closes $42,250,000 Apartment Portfolio

Millenia West Apartments, Orlando, FL
ORLANDO, FL-- CBRE is pleased to announce that it has sold a Central Florida apartment portfolio for $42,250,000. Completed in 1985/86, the assets sold include Millenia West in Orlando, Berkshires of West Melbourne, Lakeland Landing, and Atlantis Cove in Fort Pierce.

Shelton Granade, Luke Wickham, and Justin Basquill of CBRE’s Orlando office led the assignment, and exclusively represented the seller in the transaction.

The properties offer 1, 2, and 3-bedroom floor plans, and presented strong value-add opportunities to increase income at each community through minor physical and operational enhancements.

Freddie Mac provided financing for the acquisitions. The assets averaged 94% occupancy at closing.

CBRE’s Central Florida Multi-Housing Group continues to be the market leader, and has closed 5,952 units in Central Florida for more than $554,570,000 thus far in 2013.

Lakeland Landing Apartments, Lakeland, FL
For a complete copy of the company’s news release, please contact:

Shelton D. Granade, Jr.,
 Executive Vice President
CBRE | Investment Properties - Multihousing
189 S. Orange Avenue, Suite 1900 | Orlando, FL 32801
T 407 839 3103 F 407 404 5001

Englewood Construction Restaurant Group Completes Seasons 52 in Chicago

Seasons 52 at The Shops at North Bridge, River North neighborhood, Chicago, IL
CHICAGO, IL (Oct. 23, 2013) – Englewood Construction, one of the country’s leading commercial construction firms, has announced its restaurant group has completed Seasons 52, a fresh grill and wine bar at The Shops at North Bridge in Chicago’s River North neighborhood.

William Di Santo
 “Seasons 52 provides a casual, sophisticated dining option for visitors to Chicago’s famed shopping and entertainment corridor along Michigan Avenue,” said William Di Santo, president of Lemont, Ill.-based Englewood Construction. “It’s a warm, inviting atmosphere with rich mahogany and stone accents.”

 Englewood performed landlord infrastructure work at a 9,249-square-foot space for Macerich, owner of The Shops at North Bridge. The general contractor then began a build-out at the same location for Orlando, Fla.-based Darden Restaurants Inc., owner and operator of Seasons 52.

 Noted for its lighter approach to dining with seasonally inspired menus, the restaurant opened October 17th and marks the third Seasons 52 in the Chicago area. Darden also operates a Seasons 52 in Schaumburg and another in Oak Brook.

Seasons 52’s contemporary style includes a circular piano bar featuring live music nightly, an open kitchen with a brick oven, a chef’s table and a customized, climate-controlled wine chateau holding upwards of 2,000 bottles of wine. The Chicago location seats approximately 300 guests.

 Located on the ground-floor at the corner of Rush Street and Grand Avenue, Seasons 52 joins one of Michigan Avenue’s premier shopping centers. The Shops at North Bridge’s multiple levels are home to more than 70 luxury retailers and restaurants, including anchor tenants Nordstrom, Sephora, Armani Exchange and a new Microsoft store.

The Shops at North Bridge, Rush Street and Grand Avenue
Chicago, IL
 “Our previous experience working along the high-traffic, high-profile area of Michigan Avenue helped us navigate the process and provide smooth service without interruptions,” Di Santo said.

“Englewood’s construction activity has increased in the upscale dining segment of the restaurant industry. Our extensive track record with national restaurant clients has helped us secure more projects in this niche market. Also, there’s been a higher demand for the upscale dining experience as the economy is recovering.”

 Orlando, Fla.-based Cuhaci & Peterson Architects worked with Englewood on the build-out of the space. Seasons 52 debuted in 2003 and has expanded into more than 40 cities throughout the U.S.
For a complete copy of the company’s news release, please contact:

Mark Thomton

MCA Realty Acquires Its Fifth Property This Year in Las Vegas Market

Civic Center Corporate Park, 3848-3908 Civic Center Drive, North Las Vegas, NV

Tyler Mattox

Las Vegas, NV – MCA Realty, a full service real estate investment and management company specializing in office and industrial properties throughout the Western U.S., has completed its fifth industrial acquisition of the 2013 calendar year in the Las Vegas market, according to Tyler Mattox, a Principal at MCA Realty.

“Las Vegas is an extremely attractive investment market on a relative value basis,” says Mattox.  “We are currently able to acquire assets at significant discount to replacement cost, providing the opportunity for a yield that is not readily attainable right now in other Western U.S. markets.”

Arville Business Park, 4440 Arville Street
Las Vegas, NV

With its new acquisition, Civic Center Corporate Park, MCA Realty’s Las Vegas portfolio now encompasses 309,404 square feet of high-quality industrial product, according to Mattox, who notes that his firm has added over $12.8 million to its Las Vegas portfolio in the last nine months and plans to continue acquiring properties in that market.

“The fundamentals of the Las Vegas market have not yet fully recovered from the recent downturn, resulting in ongoing competitive pricing,” explains Mattox.  “However, the window of time to achieve strong yields may be narrowing. 

Whitney Ranch Business Center,
1010 North Stephanie Street, Henderson, NV
 “We seek properties with strong income characteristics, and we will continue to invest in multi-tenant industrial properties throughout Las Vegas, Texas, Arizona and Southern California,” says Mattox.

MCA Realty’s five industrial properties acquired in the Las Vegas market this year include:

 Acquisition #1: Civic Center Corporate Park, North Las Vegas, Nev.

MCA Realty recently acquired Civic Center Corporate Park, an 86,216 square-foot, multi-tenant industrial business park.  The property, which consists of one single tenant building and two multi-tenant buildings split into 17 separate units, was 56 percent occupied at the time of purchase.   The property is located at 3848-3908 Civic Center Drive in North Las Vegas, Nev

Dan Doherty
Daniel Doherty of Colliers represented both the buyer and seller in the transaction.  .

Acquisition #2:  Northpark III, North Las Vegas, Nev.

MCA Realty recently acquired a 33,750 square-foot multi-tenant industrial building in North Las Vegas.  This off-market property was 60 percent occupied at the time of purchase.

Danielle Steffen

Danielle Steffen and Amy Ogden of Cushman & Wakefield  represented both the buyer, MCA Realty, and the seller, a private investor, in the transaction.  The property is located at 4436 Lawrence St. in North Las Vegas, Nev.

Acquisition #3:  Gowan Business Park, North Las Vegas, Nev.

MCA Realty also acquired a 45,905 square-foot, 87 percent occupied, multi-tenant industrial property located at 2237, 2257, 2267, 2277 West Gowan Road in North Las Vegas, Nev.  MCA Realty restructured all of the in-place leases during escrow.

Amy Ogden
 MCA Realty was represented by Rick Barron of Parcelon in the transaction. The property was acquired from a financial institution.

Acquisition #4:  Arville Business Center, Las Vegas, Nev.

MCA Realty acquired Arville Business Center, a 45,775 square-foot multi-tenant business park located adjacent to the Strip in the Southwest submarket of Las Vegas. The property was 84 percent occupied at the time of purchase.

MCA Realty was represented by Kevin Higgins and Garrett Toft of Voit Real Estate Services in the acquisition. The seller was represented by Tim Behrendt of MDL Group. The property is located at 4440 Arville St. in Las Vegas, Nev.

Chris Beets
Acquisition #5:  Whitney Ranch Business Center, Henderson, Nev.

MCA Realty recently acquired Whitney Ranch Business Center, a 57,031 square-foot multi-tenant business park located at 1010 N. Stephanie in Henderson, Nev.

The property was 77 percent occupied at the time of purchase.

MCA Realty was represented by Chris Beets of Newmark Grubb Knight Frank in the acquisition. The seller, a private investor based in Pasadena, Calif., was represented by Jarrad Katz of MDL Group.

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

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