Friday, November 22, 2013

Easton & Associates Announces New Lease Transactions in South Florida


Jim Armstrong
Doral, FL— Easton & Associates, the commercial real estate brokerage division of The Easton Group, announces the following lease transactions:

-Samo Business Enterprises, Inc. renewed a lease for 11,200 square feet of warehouse space at 5400 NW 161 Street in Miami Gardens, FL. The landlord is Seagis PLIP LLC.  Easton & Associates VP Jim Armstrong and sales associate Mike Waite represented both parties in the transaction.

-MRC 2010 LLC leased 10, 640 square feet of industrial space at 3381 NW 168th Street in Miami Gardens, FL.   The landlord is Seagis Palmetto Palms LLC.  Easton & Associates VP Jim Armstrong and sales associate Mike Waite both parties in the transaction.

Michael Waite
-Climatrol Aluminum Products, Inc.  leased 10, 524 square feet of industrial space at 5532 NW 161 Street in Miami Gardens, FL.   Easton & Associates VP Jim Armstrong and sales associate Mike Waite represented Climatrol Aluminum.  Joe Paglino from Jalmark Realty Inc.  represented the landlord, Seagis PLIP LLC.

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

Todd Templin
Boardroom Communications


Amerilodge Group Wins IHG® 2013 Developer of the Year Award

ATLANTA, GA – Amerilodge Group received the IHG® (InterContinental Hotels Group) 2013 Developer of the Year Award, given to hoteliers achieving distinction in hotel development.

Kirk Kinsell
The Amerilodge Group was selected as the Developer of the Year for the Holiday Inn family of brands for this award in 2013.  Amerilodge Group was honored during the 2013 IHG Americas Investors & Leadership Conference in Las Vegas, Nevada, Oct. 28-30, 2013, at The Venetian® | The Palazzo® Resorts-Hotel-Casino. 

“IHG continues to grow, even in challenging times, thanks in a large part to our distinguished developers. 

"  I am especially pleased to include Amerilodge Group within this group who clearly demonstrates the highest standards in hotel development, and I am thrilled to honor them with a Developer of the Year Award,” said Kirk Kinsell, President - the Americas, IHG. “We are delighted Amerilodge Group is partnered with IHG”.

Asad Malik
“Amerilodge is appreciative of the support extended by IHG and their continued partnership for future developments” said President & CEO, Asad Malik - Amerilodge Group, LLC.

Nearly 6,000 franchise owners, operators and company officials attended the 2013 IHG Americas Investors & Leadership Conference.

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

Jenny Richardson                          
Amerilodge Group                                             

Celeste Sauls
(770) 604-5415                                

HFF closes $38.7 million sale of Whole Foods-anchored center in Coral Gables, FL

Plaza San Remo anchored by Whole Foods-anchored retail condominium
6701 Red Road, Coral Gables, FL

Danny Finkle
MIAMI, FL – HFF announced it has closed the sale of Plaza San Remo, a Whole Foods-anchored retail condominium in Coral Gables, Florida.

                HFF marketed the property on behalf of the seller, LIC Coral Gables Retail, Inc., a German investment group advised by Phoenix Property Company of Dallas, Texas.  An institutional investor purchased Plaza San Remo for $38.7 million free and clear of debt.           

Completed in 2007, Plaza San Remo is the retail component of a seven-story, 180,000-square-foot mixed-use development that includes retail, medical office condominiums and a 739-space parking garage.

Luis Castillo
 Located at 6701 Red Road, the 99 percent leased property is across from The Shops at Sunset Place and just south of U.S. Route 1 in Coral Gables.

                The HFF investment sales team representing the seller was led by senior managing director Danny Finkle, director Luis Castillo and senior real estate analyst Kim Flores.

                “Plaza San Remo’s combination of top tier tenancy and irreplaceable location in the heart of one of South Florida’s premier residential, retail and office submarkets, made this a highly coveted investment opportunity,” said Finkle.

Kim Flores
                HFF’s investment sales team secured more than $1.7 billion in sales of retail assets nationally through the third quarter of 2013.  In Florida, HFF has capitalized more than $475 million in retail transactions across all capital markets platforms during the same period.

                Phoenix Property Company is a nationally-recognized, diversified real estate company with developments and investments in major cities across the United States.  Based in Dallas, Texas, Phoenix Property Company has grown extensively throughout the last two decades, diversifying into the development and acquisition of college student housing communities, as well as the acquisitions and asset management of commercial properties.

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

Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |

Charles Dunn Company Completes $2.4 Million Sale of Multifamily Property in Studio City Submarket of Los Angeles, CA

11019 Fruitland Drive, Studio City submarket of Los Angeles, CA

Kimberly Roberts Stepp

LOS ANGELES, CA,  Nov. 22, 2013 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $2.4 million sale of a fully occupied, 10-unit multifamily property located at 11019 Fruitland Dr. in the Studio City submarket of Los Angeles, Calif.

Kimberly Roberts Stepp, senior managing director with Charles Dunn Company, represented the seller, US Trust, a Bank of America Trustee. 

  The buyer, a Los Angeles-based private investor was represented by Sapphire Investment Company. The transaction closed at a 4.1 percent cap rate.

“I worked with the seller to perform due diligence and physical inspections prior to opening escrow in order to make the transaction process as smooth as possible,” said Stepp. 

“The property was competitively priced and generated 28 offers,” said Stepp. “Because of the demand, the property was overbid and sold for $400,000 over the asking price.”

Built in 1985, the property was recently renovated and includes hardwood floors and custom cabinets in all the units. The property has two, two-bedroom/two-bathroom units and eight one-bedroom/one-bathroom units and offers secured entry and ample gated parking.

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

Darcie Giacchetto
D.G. Communications, Inc.

Avison Young completes 16,220-square-foot office lease with Science, Inc. in Santa Monica, CA

1447 2nd Street, Santa Monica CA

Randy Starr
 Los Angeles, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced it has completed a 45-month office lease with Science, Inc., a technology incubator and investor. Science, Inc. will occupy 16,220 square feet (sf) at 1447 2nd Street. in Santa Monica, CA.

Avison Young Principal Randy Starr and Tim Dornan, a Vice-President in the company’s Santa Monica office, represented Science, Inc. in the transaction. The landlord, Beitler Commercial Realty Services, represented itself.

 Built in 2000, the four-story property totals 24,578 sf and offers exposed ceilings, polished concrete floors, private balconies and ocean views. With the Science lease, the property is now fully occupied. The space was previously occupied by Hydraulx.

Tim Dornan
 Science, Inc. is relocating and expanding from its 10,000-sf office space just steps away at 1410 2nd Street.

 “Science, Inc. wanted to stay in downtown Santa Monica because it is where the company’s talent wants to work,” comments Starr. “We were able to successfully negotiate a below-market rental rate in a highly competitive market.”

 The building is well-located in the heart of Santa Monica and is within walking distance to the Third Street Promenade, Santa Monica Place and Ocean Avenue. The property also provides easy access to Santa Monica 10 Freeway and neighboring communities of Pacific Palisades, Venice and Malibu.

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

Darcie Giacchetto
D.G. Communications, Inc.

Essex Realty Group Brokers Sale Of Mixed-Use Apartment Building in Evanston, IL

525 Kedzie Street Apartments,  Evanston, IL

James Darrow

 CHICAGO, IL – Essex Realty Group, Inc. is pleased to announce the sale of 525 Kedzie Street Evanston, Illinois.  The building is a new construction, 20-unit, mixed-use apartment building originally built as upscale condominiums. 

The property is situated at the intersection of Kedzie Street and Chicago Avenue and is conveniently located steps to the Main Street Metra Rail Station and Purple Line “L” Stop.

 The building features top-of –the-line finishes including chef’s kitchen, floor-to-ceiling windows, elevator, private balconies, penthouse units with terraces, and 42 indoor heated garage parking spaces.  The commercial space is leased to Budget and Avis Car & Truck Rental.

Jordan Gottlieb
Jim Darrow and Jordan Gottlieb of Essex were the brokers in the transaction.  The price was approximately $7,250,000.

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.