Saturday, January 31, 2015

NAI Realvest Negotiates Purchase of 154,000 Square Foot Neighborhood Shopping Center in Casselberry, FL for $7.175 Million


George Livingston
Casselberry, FL – NAI Realvest, based in Orlando,  recently negotiated the $7,175,000 purchase price for the 154,323 square foot retail center known as Greater Marketplace located at 1006 SR 436 in Casselberry north of Orlando. 

NAI Realvest broker associate Drew Saphos, CCIM, along with chairman George Livingston, and principal Christie Alexander, represented the Pompano Beach buyer JAB Shopping Center II, LLC who has anchored the center with a new metro Orlando location for Baer’s Furniture.

“This new Baer’s Furniture showroom will synergize with the Winter Garden location opening later this year to bookend the Orlando MSA with locations on the eastern and western sides of the metro area,” Saphos said. 

Existing tenants at the center include Bank of America, Verizon, Planet Fitness and Colorado Fondue Company.  The seller, Greater Properties, Inc. was represented in the transaction by Crossman & Company. 

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407.644.4142 lvershelco@aol.com.

Berkadia Names David Wilson, MAI Senior Investment Advisor in its Alabama Office


David D. Wilson
BIRMINGHAM, AL --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently named David D. Wilson, MAI, Senior Investment Advisor in the firm’s Birmingham, Ala. office.

David Oakley, partner who heads the Alabama team, said Wilson has more than 25 years of experience in all facets of the commercial real estate business, including apartment market analysis and appraisal. 

  He received his MAI designation from the Appraisal Institute in 1994, while in Dallas, TX.

Wilson has been owner-operator of his own commercial real estate appraisal, research and consulting company based in Huntsville, Ala. for 20 years and over the past eight years the company’s exclusive focus has been the multi-family industry. 

In addition, Wilson has been the primary analyst and founder or co-founder of annual apartment surveys for Huntsville, Birmingham, Mobile, Montgomery, Tuscaloosa, Chattanooga, and Florida’s Emerald Coast with some dating back over 15 years. 

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407.644.4142 lvershelco@aol.com.

Thursday, January 29, 2015

Lincoln Wins Leasing Assignment for Roswell Summit Office Building in Metro Atlanta

  
Matt Davis

 ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has won an exclusive leasing assignment for Roswell Summit, a 127,342-square-foot office complex in the Atlanta suburb of Roswell. J4 Asset Management is the landlord.

Matt Davis, vice president of office leasing for Lincoln, and Jeff Henson, a senior associate in the firm’s Office Leasing Group, will oversee the leasing of the property.

Roswell Summit features two three-story buildings, each approximately 63,500 square feet in size. Located at 1080 Holcomb Bridge Road, the property is near Georgia 400.

“We are extremely honored that J4 Asset Management has awarded us with this assignment,” said Michael Howell, vice president at Lincoln who, along with Hunter Henritze, oversees the Atlanta office leasing team for Lincoln.

“This assignment is a powerful testament to our track record and successful execution on other office leasing assignments throughout metro Atlanta.”

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

Stephen Ursery
The Wilbert Group
404-405-2354

Denver Clark joins JLL as Chief Procurement Officer

  
Denver Clark

CHICAGO, IL Jan. 29, 2015 – JLL has strengthened its Americas business with the appointment of Denver Clark as Chief Procurement Officer, Americas.

 Based in Atlanta, Clark will lead the firm’s Americas procurement management strategy across its facilities management, property management and project management businesses as well as its EMEA facilities management business in line with the firm’s overall global supply chain vision.

An industry veteran, Clark brings more than 25 years of experience in global strategic sourcing and procurement management. He joins from CBRE.

“Managing supplier relationships is not only key to reducing supply chain costs but also helping our clients gain advantage in today’s competitive marketplace,” said Chris Browne, COO, Corporate Solutions, Americas, JLL.

“With Denver at the helm, our clients will benefit from JLL’s expert strategic sourcing, cost savings strategies and supplier relationship management. Our ability to drive cost savings and innovation through our procurement process is critical to improving our client’s business productivity.”

Chris Browne
Prior to his tenure at CBRE, Clark held supply chain and procurement leadership positions at Boeing, Siemens and Textron Corporation.

Clark holds an MBA in international finance from St. Louis University and a BA in economics from Emory University. 

He is a Certified Purchasing Manager (CPM.), a Six Sigma Green Belt and his professional affiliations include the International Association of Outsourcing Professionals (IAOP), Sourcing Interests Group (SIG), Institute of Supply Chain Management (ISM) and the National Minority Supplier Development Council (NMSDC).

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

Savannah Duncan • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-343-0870  • M: 404-901-4433

Executives of Davidson Hotels & Resorts and Silverpeak Real Estate Partners Acquire Hyatt Regency Indianapolis


Hyatt Regency Indianapolis

John Belden
 INDIANAPOLIS, IN —Executives of Davidson Hotels & Resorts, one of the nation’s largest, independent hotel management companies, and Silverpeak Real Estate Partners, a privately held real estate investment manager, announced that its joint venture has acquired the 499-room Hyatt Regency Indianapolis from Hyatt Hotels Corporation. 

Davidson, which facilitated the transaction, also will operate the hotel, marking the ninth full-service Hyatt branded hotel the company has managed.

“Davidson has enjoyed a long and successful relationship with Hyatt, and that familiarity will ensure a seamless transition of ownership and management," said John Belden, Davidson’s president and CEO. 

“Hyatt has been exceptional in our relationship, and we’re excited to expand our portfolio with a great property like the Hyatt Regency Indianapolis. 

“The property has been an iconic component of the downtown area, and we look to build upon its success.  Davidson operates one of the highest quality portfolios in the industry, and the Hyatt Regency will enhance it further.”

“We have been fortunate to initiate a strong partnership with Silverpeak and look forward to aggressively acquiring many other high-quality assets in 2015 and beyond,” Belden noted.

The hotel has undergone significant renovations since 2012.  Davidson plans further upgrades to the hotel’s guest rooms and lobby, as well as enhancements to food and beverage outlets and meeting space.

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

Cyndi Norwood   
Davidson Hotels & Resorts                                                          
(678) 349-0909                                                                                 

 Chris Daly (media)
Daly Gray Public Relations
 (703) 435-6293


Mall at Millenia in Orlando, FL Hires Claire Pagan and Dannie Hubp


Claire Pagan

ORLANDO, FL– The Mall at Millenia has announced the appointment of Claire Pagán as Assistant Marketing Director and Dannie Hubp as Guest Services Director.

Pagán will be responsible for the planning and execution of all community outreach and resident based programs and events in addition to other aspects of marketing to include advertising, merchant relations, public relations, social media and tourism support.

Dannie Hubp

Pagán will work under Marketing Director, Brenda Lounsberry’s, leadership to ensure that the programs, events and activities are in line with the Marketing Plan goals and strategies as well as The Forbes Company Standards.

 Pagán comes to The Mall at Millenia from Crossman & Company where she served as Director of Marketing.

Mall at Millenia, Orlando, FL
Hubp joined The Mall at Millenia in November and is responsible for the day to day operation of the Concierge and full service Post Office as well as execution and communication of both Resident and Tourism programs.

Hubp is to ensure delivery of excellent guest services by developing and executing programs to elevate service levels for the property across all departments.

Hubp is also heavily involved in Merchant Relations and merchant support through mall programs including website features and social media. Hubp comes to the Mall at Millenia from The Orlando Science Center where she served as the Manager of Guest Services.

 The Mall at Millenia is Orlando’s premier luxury shopping destination. Much more than the typical mall, The Mall at Millenia boasts a selection of over 150 stores that cater to shoppers looking for the perfect gift or the season’s must-have items.

Cheesecake Factory at Mall at Millenia, Orlando, FL

Aside from the luxury stores, internationally recognized department stores and unique décor, the Mall offers top of the line cuisine dining including; The Cheesecake Factory, P.F. Chang’s China Bistro, and Brio Tuscan Grille.

 To complete the upscale atmosphere, are dramatic architecture, innovative uses of water and technology, and exemplary guest-friendly amenities and services. 

The Mall at Millenia is visible and conveniently accessed from an I-4 interchange at Conroy Road (Exit 78).



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

Claire Pagán | Assistant Marketing Director | CPagan@mallatmillenia.com

The Mall at Millenia | 4200 Conroy Road Orlando, FL 32839 | P. 407.363.5338 | F. 407.363.6877 |



Crossman & Co. Brokers $1.5 Million Sale of Gateway Center in Clermont, FL

  
Gateway Center, 15701 State Road 50, Clermont, FL


Brian Carolan
 CLERMONT, FL – Crossman & Company arranged the $1,525,000 million sale of Gateway Center, a 19,196 square foot, office/retail center located at 15701 State Road 50 in Clermont, Florida.  Anchored by Centra Care, the property was sold in early January to a private investor. 

The center is located at the signalized entrance to the Greater Hills neighborhood along the heavily traveled Florida Highway 50.  Gateway Center was 82% occupied at the time of sale and had a great mix of local tenants.

“This deal allowed the original developers to exit their investment at a favorable rate,” said Brian Carolan, Director of Investment Sales with Crossman & Company.

Carolan exclusively represented the Seller to the market during this transaction.  He believes that the Gateway Center transaction is continued evidence that the commercial market in the Clermont area is improving significantly.

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

Sydnie Cobb
 Crossman & Company
 407.581.6261


Arbor Launches New Online Loan Processing Technology, Arbor LoanExpress


Ivan Kaufman
UNIONDALE, NY (Jan. 29, 2015) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, has launched a new proprietary online loan processing technology platform, Arbor LoanExpress, providing borrowers and brokers with a newly efficient and seamless environment in which to process their multifamily loans.

Arbor LoanExpress will allow borrowers and brokers to upload, change and manage required loan documents while receiving communication updates and information requests direct from the personal Arbor Deal Team that is assigned to each individual loan. 

This automated, online format provides access on a 24/7 basis and eliminates the need for the direct mailing, faxing or e-mailing of loan documents, expediting the loan process.

Arbor LoanExpress also provides users with a customized document check list for each loan, providing a critical status level and clarity on where a loan stands at all times. 

To provide further convenience, users will be able to submit documents within the online loan form itself or simply via a PDF format. 


To ensure complete information security, Arbor LoanExpress resides within a highly secure and restrictive server environment and incorporates state-of-the-art encryption and authentication technologies, ensuring client information remains safe.

“Arbor has always differentiated itself among lenders by the unique level of personalization and customization it provides our borrower and broker clients on each and every loan. Arbor LoanExpress is the latest example of this business philosophy, as it is designed to deliver to our clients the easiest and most efficient loan processing experience possible in a convenient online format,” said Ivan Kaufman, Chairman and CEO of Arbor. 

“In today’s business climate, speed and ease of execution are paramount. 

"Therefore, we believe Arbor LoanExpress represents the next logical step in the evolution of commercial real estate finance, from a historically manual, paper-based paradigm to one in which the loan process is easily accomplished in a safe and secure online environment.”

Arbor LoanExpress is available for use today on all Arbor Fannie Mae and Freddie Mac loans. For more information, visit http://www.arbor.com/loanexpress.

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

Christopher Ostrowski

Wednesday, January 28, 2015

Taylor & Mathis Scores 100,000 SF of Leases at Waterford at Blue Lagoon Properties in Miami, FL

  
Jeannette Pay Mendoza

MIAMI, FL –   Taylor & Mathis has seen strong leasing activity at the eight buildings they lease and manage at the Waterford at Blue Lagoon office park.

 The company has executed 37 deals totaling 100,000 square feet in the last year with over a third of that number - 38,500 square feet in the past few months. 

The portfolio includes the 6505, 6303, 6100, 6161, 6101, 5805, 5775 and 5757 buildings located across from Miami International Airport in the 250 acre office park. 

Jeannette Pay Mendoza, Taylor & Mathis Director of Leasing, negotiated the deals on behalf of the buildings’ owners.

Notable recent leasing activity includes

o   The 24,000 square foot renewal and expansion of Oracle USA at 6505 Waterford.  Co-brokered by John Marshall of Cresa South Florida

Waterford at Blue Lagoon Office Park, Miami, FL
o   A 6,514 square foot lease with Caron Broadcasting, Inc at 5757 Waterford.  Co-brokered by Ryan Ackerman and Brian Wood of CBRE

o   A 4,425 square foot lease with Colombina Candy Company at 6303 Waterford.  Co-brokered by Gonzalo Rioja of Stone Miller

Mendoza attributes their success at leasing the portfolio to Taylor & Mathis’ award winning management and the stellar location across from Miami International Airport. 

“The buildings attract companies for whom the access to the airport and interstate system are paramount,” said Mendoza. “We see a lot of interest from international companies.”

2015 will bring a unique leasing opportunity to 6101 Waterford when the entire 88,000 square foot building becomes available for lease. 

Miami Children's Hospital
Miami Children’s Hospital will vacate their space in the first quarter and Taylor & Mathis has the ability to relocate the building’s remaining tenants to free up the entire building for the right tenant. 

The four-story building can provide a tenant with signage along S.R. 836 which has a daily traffic count of 180,000+.

The buildings are managed with a strong commitment toward corporate responsibility. 

The buildings house hundreds of jobs for diverse tenants such as Parbel of Florida (L’Oreal), The Discovery Channel, Regus, Biomet, Avisena, Phoenix American Insurance Group, Oracle, Humana, RAC Insurance, FirstService Residential Florida, Butler Buckley & Deets.

Peter Romero
Community impact from the properties has been significant.  Property Manager Peter Romero has created and organized the largest corporate event at Waterford and in the Blue Lagoon area.

The Waterford 5k at Blue Lagoon was first organized in 2007 and has since grown into one of the most anticipated 5K events in the Miami-Dade area.

The race includes over 2500 participants, over 60 corporate sponsors, and has contributed over $133,000 to charities including Miami Children’s Hospital.


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

Jeannette Pay Mendoza
305.267.8062  


Lincoln Harris Brokers Horizon Forrest Products’ 24,000-Square-Foot Lease Renewal at Woodstock I Industrial Park in North Charleston, SC


Todd Garrett
CHARLESTON, SC  — Mike Ferrer, CCIM, of Lincoln Harris’ Charleston office has arranged Horizon Forrest Products’ 24,000-square-foot lease renewal at Woodstock I Industrial Park, located at 4301 Dorchester Road in North Charleston.

Ferrer represented the landlord, ADDCO, LLC, in the transaction, and Todd Garrett of Avison Young represented the tenant.

The industrial park, located near Boeing’s South Carolina facilities, is now fully occupied, thanks to several leases Ferrer recently arranged on behalf of the landlord. The details of the additional transactions are below:

·      L&W Supply, a building materials and specialty products distributor, signed a 15,000-square-foot lease renewal. Lee Allen of JLL represented the tenant.

Will Sherrod
·      Ferguson Enterprises, a wholesale distributor with operations spanning multiple business groups, signed a new 16,250-square-foot lease. Will Sherrod of Lee & Associates represented the tenant.

·      Liberty Cedar, a distributor of high-quality wood products and millwork, signed a new 16,250-square-foot lease. Ferrer also represented the tenant in this transaction.

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

Stephen Ursery
The Wilbert Group
404-549-7150 (O)
404-405-2354 (C)


Lincoln Harris Brokers Broadview Networks’ Lease Extension and 3,000-Square-Foot Expansion in Woodbridge, N.J.


Campbell Walker
WOODBRIDGE, NJ — Campbell Walker of Lincoln Harris’ Charlotte, North Carolina, office has arranged Broadview Networks, Inc.’s lease extension and 3,000-square-foot expansion at the 900 Route 9 North office building in Woodbridge.

 The Rye Brook, New York-based company now leases a total of 7,000 square feet at the 109,873-square-foot office building. Walker represented the tenant in the transaction.

900 Route 9 North is located less than 1 mile from the intersection of Route 1 and the New Jersey Turnpike, and is close to Newark International and Kennedy International airports.

 Amenities include solar-absorbing windows, high-intensity recessed lighting, Eureka high-speed broadband and a cafeteria.

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

Stephen Ursery
The Wilbert Group
404-549-7150 (O)
404-405-2354 (C)


Lincoln Harris Brokers A&M Precision Measuring Services’ 14,850-Square-Foot Lease at Woodstock II Industrial Park in North Charleston, SC


Mike Ferrer
CHARLESTON, SC — Mike Ferrer, CCIM, of Lincoln Harris’ Charleston office has arranged A&M Precision Measuring Services’ 14,850-square-foot lease at Woodstock II Industrial Park, located at 4115 Dorchester Road in North Charleston. Ferrer represented the landlord, ADDCO, LLC, in the transaction.

The industrial park, located near Boeing’s South Carolina facilities, is now fully occupied, thanks to several leases Ferrer recently arranged on behalf of the landlord. The details of the additional transactions are below:

·      A&M Precision Measuring Services, a Boeing service provider, signed a 14,850-square-foot lease. Steve Latour and Mike White of Charleston Industrial represented the tenant.

·      Cregger Co., a wholesale distributor servicing contractors in the plumbing, HVAC, and electrical industries, signed a 30,000-square-foot lease. Ferrer also represented the tenant in this transaction.

·      Trane, a leader in air conditioning systems, services and solutions, signed a 20,000-square-foot lease. Mike White of Charleston Industrial represented the tenant.

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

Stephen Ursery
The Wilbert Group
404-549-7150 (O)
404-405-2354 (C)


NAI Realvest Negotiates Two New Office Leases in Maitland, FL

   
Mary Frances West

ORLANDO, FL– NAI Realvest recently negotiated two new lease agreements totaling 2,967 rentable square feet at office centers in downtown Maitland and at Maitland Center.   

Mary Frances West, CCIM, senior broker associate at NAI Realvest represented landlord Horatio Florida Partners, LLC based in Dallas, in a lease agreement with Dr. Alex Hollander for 624 square feet in Suite C of the Maitland Professional Center just off U.S. Hwy. 17-92 at 541 East Horatio Ave.

  NAI Realvest is exclusive management and leasing representative for Horatio Professional Center

At the same time West negotiated a renewal and expansion lease at 1060 Maitland Center Commons representing the tenant, Development Planning & Financing Group Inc. out of San Juan Capistrano, Calif. 

 Tenant already occupied and renewed Suite 340 with 1,424 square feet and expanded into Suite 350 with 919 square feet for a total of 2,343 rentable square feet. 

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

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


NAI Realvest Negotiates the lease of 43,848 Square Feet of Industrial property at Airport Industrial Center in Southeast Orlando, FL


Kristen Kemp

 ORLANDO, FL  – NAI Realvest recently negotiated a new long term lease agreement with Site Resources, Inc. of Apex, N.C. boosting the occupancy to 100 percent at Airport Industrial Center, 7452 Narcoossee Rd. in southeast Orlando. 

Michael Heidrich, a principal at NAI Realvest and associate Kristen Kemp negotiated the transaction representing the Boston-based landlord, BIEL REO, LLC.

The new tenant, who provides wireless network infrastructure, maintenance and service, leased 9,000 square feet of warehouse space, 34,848 square feet of fenced paved outside storage and was represented in the transaction by Allison Reynolds of Sperry Van Ness.




Allison Reynolds

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



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


Tuesday, January 27, 2015

North American Properties Announces 12 New Tenants Coming to Avalon Development in Alpharetta, GA


Mark Toro
ATLANTA, GA – On the heels of a much-celebrated grand opening, the new year brings the opening of 12 new tenants at Avalon, a $600 million mixed-use development in Alpharetta, Georgia.

Anthropologie, Antico Pizza and Caffe Gio recently opened their greatly anticipated locations, eager to join the lineup of 50 retailers and 11 restaurants that opened on October 30. 

“We are thrilled to welcome the newest tenants to Avalon on the heels of an exceptionally successful Grand Opening,” said Mark Toro, North American Properties (NAP) managing partner.

“More than a dozen of our retailers and restaurants set opening day records and 80 percent reported holiday sales ahead of plan, many more than doubling their projections.”

Rendering of Avalon, Alpharetta, GA
Colletta, exhale and Crate & Barrel will all be open by the end of February, followed by Marmi, Boston Proper, Piedmont Nails, Johnny Was, LottaFrutta and Bonobos opening in the first half of 2015.
  


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





Suong Nguyen
The Wilbert Group
404-343-0637 (O)
 678-642-4301 (C)

Essex Realty Group Brokers the Sale of 254 Units in Palos Hills, IL


Scenic Tree Condominiums, 10205 South 86th Terrace, Palos Hills, IL

Douglas Fisher

 CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the bulk sale of 254 units within Scenic Tree Condominiums (10205 S. 86th Terrace) in Palos Hills.

Scenic Tree Condominiums is a multi-family garden unit community consisting of 448 total units in Palos Hills, IL. The Condominiums are situated on the northeast corner of 86th Avenue and 103rd Street.

The property is within short walking distance of the Green Hills Public Library, Oak Ridge Elementary School and Osborne Park. 

In addition, the property is located one mile south of the Hickory Hills Golf Club and less than one mile east of the expansive Palos Fen Nature Preserve.

The sale price was approximately $17,100,000.


Matt Welke
Doug Fisher represented the purchaser and Matt Welke and Jason Fishleder represented the seller.

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.
773.305.4910

Rhodes+Brito Architects Appoints Desiree Pedersen Business Development Manager in Orlando, FL Office


Desiree Pedersen

 ORLANDO, FL --- Rhodes+Brito Architects in Orlando has appointed Desiree Pedersen a business development manager.

Ruffin Rhodes, AIA co-founder and partner at Rhodes+Brito Architects, said Pedersen has more than 17 years of experience in business development.  She is a graduate of Orange Coast College in Costa Mesa, Calif. 

Ruffin Rhodes
In her new role as a business development manager for Rhodes+Brito, Pedersen will generate new business and reach out to existing clients to cultivate relationships for additional business.

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 20, including seven registered architects. 

The firm has exceptional experience providing architectural services to a wide variety of agencies thorough the state of Florida, including municipal government agencies, federal, education, aviation and senior living facilities.

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

Larry Vershel or Beth Payan, Larry Vershel Communications

407-644-4142 (fax: 4410)

CBRE Capital Markets Arranges $66.25 Million Sale of Sun Lake Apartment Homes in Lake Mary, FL


Sun Lake Apartment Homes, 420 Sun Lake Circle, Lake Mary, FL


Shelton Granade

Orlando, FL  – Shelton Granade, Luke Wickham, and Justin Basquill of CBRE Capital Markets arranged the sale of Sun Lake Apartment Homes, a 600-unit luxury apartment community in Lake Mary, Florida to Ecoventures Capital Fund, LLC for $66.25million.

Located at 420 Sun Lake Circle, the transaction was the second largest apartment complex sale in Greater Orlando in 2014.

CBRE’s Granade, Wickham and Basquill worked on behalf of Harbor Group International (HGI), a leading global private investment firm with a portfolio valued at approximately $4.2 billion. Sun Lake was acquired by an HGI affiliate in 2012.

“Sun Lake attracted very competitive bidding from several large investment groups that resulted in one of the year’s largest transactions in Orlandom” said Granade, Executive Vice President of CBRE Capital Markets, Multifamily.

Luke Wickham
“The property has a unique location on Greenwood Lake in the prestigious Lake Mary neighborhood, and draws an excellent tenantbase due to its proximity to retail, dining, and major white-collar employers.”

Sun Lake is comprised of 26 two-and three-story residential buildings and a clubhouse with fitness and business centers. 

With more than $1 0 million in capital upgrades completed in recent years, this “best-in-class” asset was built in 1988 and was 96 percent occupied at closing.

Located across the street from Northpoint Office Park and just a few minutes from major employment centers such as the Primera and Lake Mary Heathrow Office Parks, the lakefront community features fishing, kayaking and paddle boarding from the property’s pier.

Granade, Wickham and Basquill have closed approximately $1.6 billion in multifamily sales in Central Florida from 2013 to date.

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

Shelton D. Granade, Jr., Executive Vice President
CBRE | Investment Properties - Multifamily
200 S. Orange Avenue, Suite 2100 | Orlando, FL 32801
T 407 839 3103 F 407 404 5001

RealtyTrac Reports 7.1 Million U.S. Residential Properties Still Seriously Underwater


Frank Duran
IRVINE, CA  — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data,  released its U.S. Home Equity & Underwater Report for the fourth quarter of 2014, which shows that at the end of the year there were 7,052,570 U.S. residential properties seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 13 percent of all properties with a mortgage.

“Over the last year and a half I have had more people come to me thinking they need a short sale only to be shocked by the current market value and the positive equity in their home,” said Frank Duran, broker at RE/MAX Alliance, covering the Westminster, Colo., market in the Denver metro area, where 81 percent of distressed homeowners had positive equity at the end of 2014 — the highest percentage of any market nationwide — compared to 9 percent of distressed homeowners seriously underwater.  

“We have certainly seen an upward turn in the market.”


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

Jennifer von Pohlmann
949.502.8300, ext. 139

$1 Million Apartment Building Sale Arranged by Marcus & Millichap in Tampa, FL

  
San Isidro Apartments, 2803 and 2805 West San Isidro Street, Tampa, FL

Ari Ravi
TAMPA, FL,  Jan. 27, 2015 – 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 San Isidro Apartments, an eight-unit apartment property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The $1.140 million sales price equates to $142,500 per unit.

Casey Babb, CCIM and vice president investments, Luis Baez, senior associate and Ari Ravi, associate in Marcus & Millichap’s Tampa office, represented the local seller and the New York-based buyer who was executing on a 1031 exchange.

Originally built in the 1920s and located at 2803 and 2805 West San Isidro Street on 0.25 acres, San Isidro Apartments consists of eight, two-bedroom/two-bath apartment homes. 


Casey Babb
The units are housed in two, two-story Mediterranean-style, garden apartment buildings with wood frame and stucco exteriors, and built-up flat roofs.  

Amenities include stackable washers and dryers, central HVAC and premium kitchen and bath finishes, including granite countertops and custom cabinetry in select units.

“The asset is located in an A+ South Tampa location which was attractive for the buyer who was looking for a stable, consistent cash-flow and long-term capital preservation,” says Ravi. 

“This is a further indication that out-of-area investors see an enormous amount of growth potential in the Tampa Bay market and view it as an attractive place to invest,” adds Babb.

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

Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700


$645,000 Sale of Hickory Crest Apartments in Brooksville, FL Handled by Marcus & Millichap

  
Hickory Crest Apartments, 173 Hickory Street, Brooksville, FL

Michael Donaldson
BROOKSVILLE, FL, Jan. 27, 2015 – 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 Hickory Crest, an 18-unit garden-style, apartment community located in Brooksville, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $645,000.

Michael Donaldson, vice president investments, Nicholas Meoli, senior associate, and Jason Hague, associate, all in Marcus & Millichap’s Tampa office, represented both parties in this transaction.

Hickory Crest was built in 1983 and is located at 173 Hickory Street in Brooksville, Florida.  The property consists of two, two-story eight-plex buildings and one single-story duplex.

  The buildings are constructed of concrete block on concrete slab and are situated on approximately 1.36 acres of land.

Nicholas Meoli
Amenities include ample parking, central air-conditioning and full size washer and dryer connections in all units.  The property has had historical high occupancy levels and is currently 94 percent occupied.

“By emphasizing the strong cash flow opportunity of this property, our team was able to procure multiple offers from out-of-area investors,” says Hague. 

  “We ultimately closed with a California-based investor in a 1031 exchange who was able to close in less than 30 days of the contract date on an all-cash basis.”


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

Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700


Marcus & Millichap Brokers Sale of Graham Bottling Works Factory Lofts in Tampa, FL for $375,000



Graham Bottling Works Factory Lofts, 3106 North Jefferson Street, Tampa, FL

Casey Babb
 TAMPA, FL,  Jan.  27, 2015 – 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 Graham Bottling Works Factory Lofts, a 20-unit apartment property located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $375,000.

Luis Baez, senior associate, and Casey Babb, CCIM and vice president investments in Marcus & Millichap’s Tampa office, represented both parties in this transaction, 

Graham Bottling Works Factory Lofts is located at 3106 North Jefferson Street in Tampa, Fla.  This is an adaptive reuse of a historic 22,000-square foot former orange juice factory into between 12-16 residential lofts.

Luis Baez
 This unique residential development offering provides an exciting opportunity to remake a small piece of Tampa’s history, into a new and exciting loft project with numerous development incentives and rebates for improvements if the building is awarded a historic preservation designation.

“Tampa Heights and Seminole Heights are experiencing a rebirth of sorts which makes sense given their proximity to Tampa’s urban core,” says Babb. 

“This project is one of a handful of residential adaptive-reuse projects announced recently which signals that developers sense a growing demand for these infill submarkets, and are now willing to invest fresh capital into these neighborhoods.”

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



Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700


Matthew Kim Joins Marcus & Millichap’s Tampa, FL Office


Matthew Kim
Tampa, FL  – Matthew Kim has joined Marcus & Millichap’s Tampa office according to Richard D. Matricaria, regional manager.

Prior to joining Marcus & Millichap, Mr. Kim was a Senior Associate with Prudential Commercial Real Estate FL., with a primary emphasis on commercial and industrial facilities throughout Tampa Bay.

 Matt will specialize in office and industrial properties located in Hillsborough, Pinellas, and Pasco Counties.

Matt has served on the University Alliance committee for the CCIM West Coast Chapter and the Board of Directors for the Tampa Bay Jaycees with the main role of business development.

He also participates in Emerge Tampa Bay, the Tampa Bay Young Professionals Club, the Florida Gulf Coast Association of Realtors (FGCAR), and the University of South Florida Alumni Association.


Richard D. Matricaria
“We are excited to have Matt come on board with our firm and welcome him to the team,” says Matricaria.  “He brings a vast amount of experience that our client base will surely benefit from.”

“I am looking forward to providing all my clients with the benefits and resources afforded by Marcus & Millichap,” adds Kim.


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


Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700