Friday, May 16, 2014

Buckhead Atlanta Opening Set for September

Rendering of  Buckhead Stlanta development scheduled to open in September

ATLANTA, GA -- After years of being a symbol of the optimism and vision for Buckhead as well as the painful reality of the recession, the tower crane that has been standing over Buckhead Atlanta for more than five years is coming down on Saturday, May 17, signally the end of vertical construction and transition into a new phase of development.

 When the crane came back to life in 2013 to restart the Buckhead Atlanta construction, it symbolized the long, slow trek the Atlanta economy had endured was coming to an end. And signaled excitement for the destination being born.

Buckhead Atlanta will open in September, as the long-awaited block-by-block redevelopment of the Buckhead Village.

Retailers and restaurants, 29 of them, have been announced. The tower crane will no longer be needed as construction moves into finer detailing and landscaping.

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

Coleman Wood
P 404-214-3549

Celebration Place Office Building in Celebration, FL Sells for $25.7 Million

200 Celebration Place, Celebration, FL

Douglas K. Mandel
CELEBRATION, FL,  May 16, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 200 Celebration Place, a nine-story, 166,131-square-foot office building fully leased to Walt Disney Parks and Resorts U.S. Inc. in Celebration, Fla.

The $25,700,000 sales price equates to $155 per square foot.

            Douglas K. Mandel, a first vice president investments in Marcus & Millichap’s Fort Lauderdale office, and Ray Turchi, a senior associate in the firm’s Orlando office, represented the buyer and seller, both of which are institutions.

            “The asset is part of a complex of office buildings all built to suit for the Walt Disney World Co. in 1995,” says Mandel. “The triple-net lease on this building runs through June 2017.”

            “The building is a high-quality investment property with stable income that is leased to one of the most successful and recognizable companies in the world,” adds Turchi.

Ray Turchi
             The property is located five minutes from the entrance to the Walt Disney World Resort, just west of the intersection Celebration Avenue and Celebration Place in Celebration, Fla., 25 minutes south of downtown Orlando.

             The 200 Celebration Place office building was constructed primarily of reinforced and post-tensioned concrete. 

The facades feature bands of clear or green insulated glass separated by cast-in-place concrete spandrels or painted aluminum panels. 

Entry facades and other wall sections consist of red Agra sandstone over a concrete masonry unit substrate and architectural concrete tilt-wall panels. 

On the inside, the entrance corridor and elevator lobby areas have marble floor coverings and some of the lobby areas have Disney-themed artwork painted on the walls.

            There are 594 parking spaces. All the landscaped areas are irrigated with a multi-zone sprinkler system controlled by timers and supplied with reclaimed water provided by the Kissimmee Utility Authority. Celebration, Fla. was designed and built by the Walt Disney Co. Walt Disney Parks and Resorts, U.S. Inc. is a subsidiary of Walt Disney World Co.
For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager
(925) 953-1716

Commercial Real Estate Industry is Ideal Vertical for Crowdfunding

Grady Thrasher
ATLANTA (May 15, 2014) – Commercial real estate is the ideal vertical for crowdfunding for several reasons, including the industry’s transparency, according to a new white paper from CrowdVested.
Real estate crowdfunding enables people to join with neighbors to invest in redevelopment projects in their communities. 

Most people have a certain innate understanding of real estate because buying a home was their first major investment.

 And through access to public records and comps, real estate offers more information to everyday investors than virtually any other investment.
“We are really excited to release this white paper today, which explains the history of real estate crowdfunding and breaks down how equity crowdfunding deals work,” said Grady Thrasher, CEO of CrowdVested, the Atlanta-based crowdfunding platform for commercial real estate. “Perhaps most importantly, the white paper outlines seven questions potential investors should ask before participating in a deal.”
The white paper comes as CrowdVested gains momentum on its first campaign, which it announced in late April in conjunction with Atlanta-based Paces Properties. Paces seeks to acquire, renovate and lease seven largely vacant retail buildings in the East Atlanta Village of Atlanta. Paces is raising a piece of its financing through crowdfunding.

For a complete copy of the company's news release, please contact:
Caroline Wilbert
(404) 748-1250

Essex Realty Group Brokers Sale Of Mixed-Use Building in Lincoln Park Neighborhood, Chicago, IL

2744  North Lincoln Avenue, Chicago, IL

James Darrow
 CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the recent sale of 2744 N. Lincoln Avenue, a brick mixed-use property located in the Lincoln Park neighborhood.

The property is situated on the western side of Lincoln Avenue just south of the heavily trafficked intersection of Diversey Parkway and Lincoln Avenue.

The building is conveniently located in close proximity to both the Fullerton & Diversey L Stop providing easy access to the Brown, Purple, and Red CTA lines.

 The 4,200 square foot building contains: 2,100 square feet of retail space on the first floor and a 2,100 square foot loft style apartment on the second floor. The loft apartment features floor-to-ceiling windows, exposed brick, and a washer & dryer hookup.

Jordan Gottlieb
The retail space is currently being used by the owner but will be vacant by closing.  Both units are individually equipped with HVAC systems and in-unit circuit breakers. There is also a two and half car garage at the rear of the property.

Jim Darrow and Jordan Gottlieb were the brokers in the transaction. The sale price was approximately $620,000.

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.

Marcus & Millichap Has Exclusive Listing for South Beach, FL Retail Building Hitting the Market at $18.95 Million

Retail Building for Sale at 743--755 Washington Avenue
South Beach, sector, Miami Beach,  FL

Drew A. Kristol
MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has received the exclusive listing for a 17,500-square-foot retail property on the corner of 8th Avenue and Washington Avenue in the heart of the world-famous South Beach district in Miami Beach, Fla.

The asset is priced at $18.95 million. The building is anchored by national tenants Adidas and Adriano Goldschmied.

            Drew A. Kristol and Kirk Olson, vice presidents investments in Marcus & Millichap’s Miami office, are representing the seller, a Miami Beach-based private investor.

“This is a rare opportunity for an investor to purchase a trophy retail asset on Washington Avenue in South Beach, where retail properties have consistently appreciated over the past decade due to the rarity of the asset class, incredibly strong international tourism, and impressive local foot traffic,” says Kristol.

Kirk Olson
  “In addition to generous annual base rent increases in the existing leases, the property has significant upside potential through re-renting the vacant 6,000-square-foot retail space that is on the south side of the property.”

The building is situated on 19,500 square feet of land at 743-755 Washington Ave. in Miami Beach.

Adidas, a tenant in the building since 2003, recently extended its lease for three years and agreed to a rental increase. The property is surrounded by national retailers including Armani, Diesel Jeans, Banana Republic, Guess, Victoria’s Secret and Kenneth Cole.

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

Gina Relva
Public Relations Manager
(925) 953-1716