Friday, November 14, 2014

America’s Commercial Real Estate Show Expands from 11 to 40 Radio Stations

Michael Bull

 ATLANTA, GA,  (Nov. 14, 2014) --- The weekly radio show hosted by Michael Bull which began four years ago on one station in Atlanta is now broadcast on 40 stations across the country. 

The show provides investors, and corporate and institutional investors, advisors and occupiers of commercial real estate, a source for valuable information and best practices.

The forecasts, sector updates and market intelligence intrigue a vast audience of people looking for ideas, advice and fresh talk radio content.

 As talk radio news and business radio stations clamor to increase listeners and advertisers, the Commercial Real Estate Show has become a welcome addition to station lineups.

 According to a recent study by Bridge Ratings covered by Talkers Magazine, talk radio is experiencing “listener fatigue” from an over saturation of shows related to politics. The Commercial Real Estate Show’s “insightful analysis and enlightening discussions” are attracting affiliate radio stations nationwide.
For a complete copy of the company’s news release, please contact:

Ilona Vaystikh
Marketing & Creative Services
Bull Realty, Inc. 
50 Glenlake Pkwy, Suite 600
Atlanta, GA  30328

404-876-1640 x 102

The Biggest Drag on Home Ownership: Down Payments or Debt?

Mel Watt
IRVINE, CA -- RealtyTrac recently analyzed affordability in more than 500 counties nationwide, looking at the impact of lowering the down payment for conventional loans (those that can be sold to Fannie Mae and Freddie Mac) from the traditional 20 percent to as low as 3 percent — as has been suggested recently by FHFA director Mel Watt as a way to “increase access for creditworthy but lower-wealth borrowers”.

While lower down payments may help pave a quicker path to homeownership for some prospective homebuyers, a bigger obstacle to homeownership is the additional non-mortgage debt many borrowers bring to the table.

 For borrowers without additional debt, monthly house payments are affordable in more than 90 percent of U.S. housing markets — whether they make a 20 percent or 3 percent down payment.

But for borrowers with the additional debt burden of student loans and car payments, monthly house payments are affordable in less than half of U.S. housing markets with a 3 percent down payment.

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

Ginny Walker
Office: 949.502.8300 ext. 268
Mobile: 323-317-5852  

National Retail Properties, Inc. Closes Offering of Common Stock

ORLANDO, FL,  Nov. 14, 2014 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it has closed an underwritten public offering of 5,462,500 shares of common stock at a price of $38.16 per share, which includes 712,500 shares sold to the underwriters pursuant to the full exercise of their option to purchase additional shares. 

The Company estimates that the net proceeds from the offering will be approximately $200.1 million, after deducting the underwriting discount.

  The Company intends to use the net proceeds from the offering to repay outstanding indebtedness under its credit facility. In addition, the Company intends to use the remainder of the net proceeds from the offering, if any, to fund future property acquisitions and for general corporate purposes.

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

NAI Realvest Closes Lease of 30,500 Square Foot Industrial Building in Jacksonville, FL

Christie Alexander
Jacksonville, FL -- NAI Realvest, based in Orlando, recently negotiated the lease of a 30,500 square foot industrial building at 8100-3 Westside Industrial Drive in Jacksonville.  

NAI Realvest broker associates Paul Vera, CCIM and Drew Saphos, CCIM, Chairman George Livingston and Principal Christie Alexander represented the tenant Penn Veterinary Supply, Inc. based in Lancaster, Pa. 

 Dave Cattell, CCIM was co-broker in the transaction also representing the tenant.

Stone Mountain Industrial Park, Inc. of Stone Mountain, Ga. is the landlord who was represented in the transaction by Peter Anderson of Patillo Industrial Real Estate.

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

Beth Payan or Larry Vershel, Larry Vershel Communications,

$10 Million sale of cite retail shops and land arranged by marcus & millichap in Miami, FL

Ronnie Issenberg

MIAMI, FL РMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of the fee-simple interest in Cit̩ Retail Shops and Land, 17,897 square feet of retail space located at the base of a six-story Miami condominium building as well as 7,850 square feet (0.18 acres) of developable land.

The asset sold for $10,000,000.

Ronnie Issenberg and Gabriel Britti, vice president investments, in Marcus & Millichap’s Miami office, represented the buyer, a limited liability company from New York City.

“The buyer was attracted to the rare opportunity to purchase prime retail real estate as well as a highly coveted development site located on one of the highest profile corridors in South Florida,” says Issenberg. 

“Whereas most local investors shy away from having to deal with mixed-use associations, our client, who owns numerous mixed-use properties in Manhattan, finds value in owning multiple ground floor condo units,” adds Britti. “He can manage the property using a larger economy of scale and shift tenants to different units in the property, based on their needs.”

Gabriel Britti
The retail space is 96 percent leased to Citibank, The Daily Creative Food Co. and seven other popular retailers. The 0.18 acres of developable land has 75 feet of frontage along NE 20th Terrace and is zoned to allow up to 500 units per acre and a maximum height of 36 stories.

The property is located at 2001 Biscayne Boulevard, surrounded by Miami’s trendiest neighborhoods including Midtown and the Design District to the north, Downtown and Brickell to the south and Miami Beach on the east.

For a complete copy of the company’s news release, please contact:
Kirk Felici
First Vice President/Regional Manager
 Miami, FL
(786) 522-7000

$6.5 Million sale of the Edge condominium Portfolio in West Palm Beach, FL arranged by marcus & millichap

Joseph P. Thomas
WEST PALM BEACH, FL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 32 units in The Edge Condominiums, a 307-unit condominium building located in Downtown West Palm Beach, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $6,500,000 equating to $203,125 per unit.

Joseph P. Thomas, a vice president investments, William J. Berthiaume, II, a senior associate, and Frank Fausone, an associate, in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private investor from Canonsburg, PA and the buyer, a Canadian fund based in Montreal.

“The Edge Condominium Portfolio offered the rare opportunity to acquire units at a discount to current market values in a ‘best in class’ condominium building in Downtown West Palm Beach,” says Joseph Thomas.

William J. Berthiaume II
 “Our marketing process generated tremendous interest and multiple offers from both national and international investors. Ultimately, the winning bid was from a Montreal-based fund.”

All 32 condominiums included in the offering are two-bedroom/two-bathroom floor plans with hurricane resistant impact windows and exterior doors, central air conditioning, washers and dryers, electric appliances, granite counter tops, ceiling fans, ample closet space and balconies with great views of Downtown West Palm Beach or Clear Lake.

Located at 300 South Australian Avenue, the property is situated in close proximity to several Downtown West Palm Beach landmarks including CityPlace, Palm Beach Atlantic University, the Palm Beach County Convention Center, Howard Park and the Norton Museum of Art.

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

 Ryan Nee
Regional Manager
 Fort Lauderdale, FL
(954) 245-3400