Monday, August 31, 2015

Hold-Thyssen Completes Three Leases at Pennock Business Center in Jupiter, FL totaling 2,772 SF


JUPITER, FL and WINTER PARK, FL -- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently completed three lease agreements for office/warehouse/flex space totaling 2,772 rentable square feet at Pennock Business Center, 711 Commerce Way in Jupiter.

Current tenant CrossFit Jupiter signed a lease renewal for 1,368 square feet while a private individual and ArteroUSA, Inc. each signed new leases for 693 square foot warehouses.  The landlord is GECMC 2005.

The Hold-Thyssen-managed Pennock Business Center is currently 97 percent occupied.  Earlier this summer, new and renewal leases were completed totaling over 10,000 square feet at Pennock Business Center.  

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

Larry Vershel Communications, Inc. Larry Vershel or Beth Payan 407-644-4142 or 407-461-3781 Lvershelco@aol.com.


Public-Private Partnership to Start Construction of 130,000-SF Logistics Cold Storage Food Facility at Port Tampa Bay, FL


 
George Livingston
TAMPA, FL --- A public-private partnership that includes Port Logistics Tampa Bay I, Inc., and Port Tampa Bay will start construction of a 130,000-square foot state-of-the-art intermodal cold storage food products facility at Port Tampa Bay early next year.

When it opens in November 2016, the $19.1 million facility will employ 50 full-time workers and up to 200 part-time workers, said long-time Central Florida industrial developer George Livingston, a principal in Port Logistics.

Livingston said the Tampa Port Authority Board recently approved a 27-year lease to Port Logistics Tampa Bay I for the 13.7 acres where the facility will be developed on Hookers Point at Port Tampa Bay in downtown Tampa.

The Tampa Port Authority has engaged Atlanta-based Batson-Cook Company as contract manager for the project.

Port Logistics Tampa Bay I will be responsible for interior improvements and all terminal operations, providing cold supply chain operations at the Port, Livingston said.

The facility will receive, label, package and distribute temperature controlled food products from foreign ports, Livingston explained. “We expect to operate almost 24 hours a day, seven days a week.”

“In our first year of operation we expect to accommodate 100 vessels with 400,000 pallets, along with 70 to 80 trucks per day entering and leaving the facility,” Livingston added.

Port Tampa Bay
Products will include perishable goods, fruits, vegetables, pharmaceuticals and any other products that require temperature control.

Refrigerated ships arriving at Port Tampa Bay will shave three days off their voyage to Philadelphia, which hosts the principal cold storage food facilities on the eastern seaboard, according to Allen Huie, a principal and co-founder of Port Logistics.

Huie, an investment banker in Hong Kong, has partnered with Livingston on several other previous ventures.

Port Logistics has formed alliances with some of the largest and most experienced providers in the intermodal shipping industry for the Port Tampa Bay project,” Huie explained, “ including”:

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

Larry Vershel Communications, Inc. Larry Vershel or Beth Payan 407-644-4142 or 407-461-3781 Lvershelco@aol.com.


KTGY Architecture+Planning Expands National Presence and Opens New Chicago Office

  
Tricia Esser
IRVINE, CA - Award-winning national architecture and planning firm KTGY Group, Inc., answering the strong demand for innovative design solutions in Chicago, announced today that it has opened a new office in downtown Chicago, IL to expand its services in the mid-western United States.

The new studio will be headed by veteran designers Craig R. Pryde, AIA, LEED AP and David M. Kennedy, AIA, LEED AP, former principals of PPK Architects, as principals of the new studio. 

"The opening of the new studio in downtown Chicago strengthens KTGY’s national presence and provides a greater depth and breadth of services to a wider range of clients and projects in the Midwest," said KTGY CEO Tricia Esser.

"David and Craig bring over 50 years of combined experience as designers in the Chicago area," said Esser. “They have a proven performance record, an impressive portfolio, and have worked together for more than 23 years.

“Their successful partnership is a perfect fit for KTGY's well-defined team philosophy." KTGY's collaborative partnership structure organizes specialized studios of seasoned professionals and staff for specific project types and/or geographical areas.

Craig R. Pryde
Pryde has designed and managed commercial and residential projects of all sizes from new construction to renovation, adaptive reuse and expansion of existing buildings including historical structures.

 Kennedy has extensive experience in the design of mixed-use residential projects and urban in-fill development projects including large scale commercial and low, mid and high-rise residential developments.

Pryde says of the merger, “We are excited about joining KTGY and expanding the firm’s presence in the Midwest. The combination of KTGY's tremendous resources and portfolio of experience will provide our clients with an even broader range of services, thought leadership and design excellence.”  

Kennedy adds, “We admire KTGY’s creative work and reputation for establishing industry trends. Now with our colleagues on both the west and east coast, we can share vital research and insights on design and planning trends to assist our local and national clients position their projects and communities ahead of their competition.” 

David M. Kennedy
"We are pleased to have a diversified team in place to better serve our clientele as well as enhanced capabilities to attract new clients and expand into new geographical markets," said Stan Braden, Chairman of the KTGY Group Board of Directors. 

The combined firms will provide architectural and planning services to clients in single-family, multi-family, civic/recreation, commercial office and retail, financial, medical/healthcare, hotels/hospitality, mixed-use and international markets. KTGY's award-winning residential portfolio includes age-targeted design -- from Millennials and students to Baby Boomers, Seniors and Service-Enriched living environments.

KTGY's new office is located at 343 W. Erie Street, Suite 220, Chicago, Illinois 60654.

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

Anne Monaghan                                        
Monaghan Communications                      
830.997.0963                                             


Hanley Investment Group’s Eric Wohl Negotiates Sale of 75,000 SF Anchored Shopping Center for $8.7 Million in Tupelo, Ms



Shops at Barnes Crossing, 3944-3952 North Gloster Street, Tupelo, MS


Eric Wohl
CORONA DEL MAR, CA - Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, is pleased to announce that Executive Vice President Eric Wohl represented the seller in the sale of the Shops at Barnes Crossing, a 75,000-square-foot neighborhood shopping center anchored by Bed Bath & Beyond, Dollar Tree, and David' s Bridal in Tupelo, Mississippi. 

The purchase price was $8,725,000, representing one of the lowest cap rates in the state of Mississippi for this type of retail property.  The cap rate was 8.20%

The Shops at Barnes Crossing is situated on 8.18 acres at the signalized intersection of North Gloster Street and Symphony Lane at 3944-3952 North Gloster Street in Tupelo, Mississippi.

Built in 2004, the retail center includes a strong mix of local, regional and national tenants and is located across the street from Walmart Supercenter to the west and the Mall at Barnes Crossing to the east. The property was 97% occupied at the time of the sale.

The buyer, which was represented by Joseph Montgomery from Colliers Investment Sales in Atlanta, Georgia, was a private investor based out of Athens, Georgia. The seller, represented by Wohl, was RCG Ventures LLC of Atlanta, Georgia, a privately-funded real estate investment group that acquires and develops commercial real estate throughout the U.S. 

Joseph Montgomery
"This transaction had it all: a 1031 exchange buyer who we helped navigate through a CMBS loan assumption; getting the buyer comfortable with the non-credit local tenants on shorter term leases, one of which that hadn't yet opened for business; and working around deferred maintenance issues," said Wohl.

"This property is a great example of an institutional-style investment in a strong secondary/tertiary market," said Wohl. 

"The Shops at Barnes Crossing offers the buyer an outstanding retail location, right across the street from Walmart Supercenter and the largest mall within 140 miles (770,000 square feet), anchored by JCPenney, Belk, Dick's Sporting Goods and Sears with over 12 million annual shoppers."

Wohl adds, "With cap rates on NNN investments at historically low levels, many NNN investors are now  looking at multi-tenant retail investments in markets where they can get a significantly better yield."

Late last year, Wohl represented a Texas-based investment group in the acquisition of Cross Creek Shopping Center in Tupelo, Mississippi. The 65,269-square-foot property, purchased at an undisclosed amount from national REIT Phillips Edison & Company, is anchored by national tenants and is located off of U.S. Route 78, between Memphis and Birmingham. Tupelo is the county seat and the largest city of Lee County. It is also the seventh-largest city in the state

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

Anne Monaghan                                        Eric Wohl
Monaghan Communications                      Hanley Investment Group

830.997.0963                                             949.585.7673 

Hanley Investment Group Sells Two Multi-Tenant Retail Investments in CVS-Anchored Shopping Centers in Moreno Valley, CA for $10.4 Million

  
Smart & Final Extra!, 25050 Alessandro Boulevard, Moreno Valley, CA
 
Ed Hanley
 CORONA DEL MAR, CA - Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, is pleased to announce that Hanley Investment Group President Ed Hanley and Executive Vice President Bill Asher have negotiated the sale of two multi-tenant retail investment properties in Riverside County, Calif., totaling more than $10,413,000.

In Moreno Valley, Hanley Investment Group completed the sale of a two-tenant retail building occupied by a newly-opened 24,385-square-foot Smart & Final Extra! and a 14,883-square-foot Dollar Tree at 25050 Alessandro Boulevard in a CVS/pharmacy-anchored shopping center.

Located on 3.67 acres, the inline building totals 39,268 square feet. The property was 100% occupied at time of sale and featured an initial ten-year NNN lease with Dollar Tree that had nine years remaining. Smart & Final opened for business shortly before the property closed escrow with a new 15-year NNN lease.

Bill Asher
The seller, represented by Hanley and Asher, was Brad Becker, a principal at Becker Properties based in Encinitas, Calif. The buyer, GBF Investment LLC based in Pomona, Calif., was represented by Bob Bonanomi of CBRE in Universal City, Calif.  The purchase price was $7,088,000, which represented a cap rate of 5.75 percent. 

According to Asher, "We secured an all-cash buyer in the first week of marketing after generating multiple offers showing the continued high demand for well-located retail investments in greater southern California leased to credit tenants with long-term leases. 

“We procured a highly qualified buyer and negotiated a mutually beneficial closing timeframe prior to the new Smart & Final’s formal rent commencement date. The structure maximized value for the seller, while efficiently and effectively fulfilling the buyer’s acquisition requirement.”

Also, in Moreno Valley, Hanley Investment Group completed the sale of a two-tenant retail building occupied by a 3,940-square-foot Coast Dental office and a 2,500-square-foot TitleMax at 12252 Perris Boulevard. 

Located on .30 acres, the freestanding 6,440-square-foot pad building is located in a shopping center that includes CVS/pharmacy, dd's Discounts, Bank of America and Dollar Tree and is situated at the hard corner signalized intersection of Perris Boulevard and Hemlock Avenue. 


TitleMax, 12252 Perris Boulevard, Moreno Valley, CA
The purchase price was $3,325,000, representing $507 per square feet. The seller, represented by Hanley and Asher, was MV-Perris, LLC, a subsidiary of FHC Inc. based in Newport Beach, Calif. The buyer, TC Enterprise Group, LLC in Pasadena, Calif., was represented by Charles Wong of CCRE Capital Commercial, Inc. of Irvine, Calif.

“We negotiated a seven-day due diligence period and successfully closed escrow 20 days after execution of the Purchase and Sale Agreement with an all-cash buyer,” said Asher. “It provided the seller with a firm commitment from the buyer in a short period of time, while giving the buyer the certainty that they had secured a property for their 1031 exchange early in their identification process.”  

Asher notes it was a record price per square foot sale for a multi-tenant strip center in Moreno Valley. The property is situated in a primary corridor with neighboring retailers that include Walgreens, McDonald' s, Food 4 Less and O' Reilly Auto Parts.


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

Anne Monaghan                               Bill Asher
Monaghan Communications            Hanley Investment Group
830.997.0963                                   949.585.7684 
                                                        www.hanleyinvestment.com.



Sunday, August 30, 2015

HFF secures $10.2 million financing for grocery-anchored shopping center in central New York


Hannaford Plaza, 40 Kellogg Road, New Hartford, NY

Michael Klein
NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $10.2 million in acquisition/bridge financing for Hannaford Plaza, a 110,732-square-foot, grocery-anchored neighborhood shopping center in the Utica suburb of New Hartford, New York.

HFF worked on behalf of the borrower, BH Kellog LLC, to arrange the three-year, floating-rate loan with Realty Finance Trust.  BH Kellog LLC is headed by a repeat client of HFF’s and is a shopping center owner based out of Monsey, New York.  The borrower was represented by Chaim Dahan Esq.

Anchored by Hannaford Bros., the primary grocery store in the market, and Rite Aid, Hannaford Plaza is 87.3 percent leased to Dollar Tree, John Latini Salon, Charlie’s Pizza, Dapper Dan Dry Cleaners, Wasabe Wok,

 The Liquor Loft and Tanning Bed.  Located on 12.6 acres, the asset has room for future development, and the borrower plans to build up to 8,000 square feet on a future pad site and add 40,000 square feet of self storage space.

Rob Hinckley
 The property is located at 40 Kellogg Road just off State Route 8, a major north-south artery for the greater Utica region.  The asset is located within a residential area with approximately 96,000 households within five miles.

The HFF team representing the borrower was led by director Michael Klein and managing director Rob Hinckley.

“The borrower was seeking a short-term loan with prepayment flexibility that would enable them to acquire and stabilize the property by extending the grocer’s short-term lease while leasing up the existing vacant space and shoring up the near-term roll,” Klein said.

  “Realty Finance Trust provided a competitive and flexible loan structure that will enable BH Kellog LLC to execute its business plan and unlock the value of this property.”

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

Saturday, August 29, 2015

$135 million sale of 525 West Van Buren in Chicago’s West Loop closed by HFF


525 West Van Buren, West Loop, Chicago, IL

 
Jaime Fink
CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 525 West Van Buren, a 522,809-square-foot, 16-story, Class A office tower located in Chicago’s West Loop.

HFF represented the seller, Northwood Investors, in the transaction.  AEW Capital Management, Inc. acquired the office tower for $135 million on behalf of one of its separate account clients.

525 West Van Buren is situated at the southwest corner of Van Buren and Canal Streets in the West Loop within Chicago’s central business district.  This location is adjacent to the Chicago Transit Authority’s elevated train system (“L”) and close to Union Station, Ogilvy Transportation Center and Interstate 290 providing tenants and commuters access to the entire metropolitan area.

 Completed in 2002, 525 West Van Buren features an on-site café, 40 indoor executive parking spaces, a mezzanine floor with a Wi-Fi lounge, conference center, fitness center with lockers and showers, and a bike room with storage for 56 bikes.

The HFF investment sales team representing the seller was led by senior managing directors Jaime Fink and Jeffrey Bramson and managing director Mark Katz.

“The property has true class A tenancy and also offers a great opportunity to lease up the vacant space as Chicago’s central business district office market continues to improve,” said Fink.

  For a complete copy of the company’s news release, please contact:
                   
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com



Marcus & Millichap Arranges Sale of 6,795-SF Net-Leased AutoZone Site in Tampa, FL


Mike Paspalakis
TAMPA, 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 an AutoZone ground lease, a 6,795-square foot net-leased property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $1,060,000.

Mike Paspalakis, associate, Nicholas Meoli and Michael Donaldson, both vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by Dustin R. Alvino, senior associate, in the firm’s Las Vegas office. 

AutoZone occupies an attractive, freestanding building with 2005 construction on a half-acre of land located at 8002 North Dale Mabry Highway in Tampa, Florida.

The property has excellent frontage on Dale Mabry Highway, a major north/south thoroughfare running through the heart of Tampa. It is ideally situated just south of a Walmart Supercenter in a dense retail corridor that includes PNC Bank, Burger King, Zaxby’s, Hudson’s Furniture, Family Dollar, LA-Z-Boy Furniture, 7-Eleven and many more.

“The seller had owned the property for 40 years prior to the sale, and was looking to retire,” says Paspalakis. “Due to our national marketing platform, we were able to secure a California-based investor within a short time frame who is in the process of expanding his single-tenant net-leased portfolio.”

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

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

                    

RealtyTrac Reports Share of In-Foreclosure Sales Drops to 15-Year Low in July While Cash Sales Share Falls to Eight-Year Low

                                                                        

Daren Blomquist
IRVINE, Calif. – August 27, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its July 2015 U.S. Home Sales Report, which shows sales of properties in-foreclosure and cash sales were down from a year ago to multi-year lows while year-to-date U.S. home sales in 2015 are at an eight-year high, and the U.S. median home price in July was at an 82-month high.

“While the stock market may be on a roller coaster as of late, the housing market is still on solid ground, with the eight-year low in cash sales combined with the eight-year high in overall sales volume in the first half of the year evidence that housing is successfully transitioning from an investor-driven recovery to one that is drawing in traditional buyers as a good foundation for sustainable growth going forward,” said Daren Blomquist, vice president at RealtyTrac.

“That’s not to say there are no cracks in the foundation of this recovery, the top three of which are housing affordability — or lack thereof in some high-flying markets — along with overdependence on capricious cash buyers — both foreign and domestic — in some markets, and the persistent overhang of underwater homeowners who continue to represent heightened default risk given any future economic shockwaves.”

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

 Jennifer von Pohlmann
 Sr. Data PR Manager
 Office: 949.502.8300 ext 139

                            

Capital Square Realty Advisors Completes 152-Unit Multifamily DST Offering Near Tampa, FL


Louis Rogers
TAMPA, FL – Capital Square Realty Advisors, LLC announced its Delaware statutory trust offering, CSRA Candleglow Apartments, DST, comprised of Candleglow Apartments, a 152-unit multifamily community near Tampa, Florida, has been fully subscribed by investors.

“Candleglow Apartments is nearly 100 percent occupied with a waiting list, which bodes well for future growth in rental income,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

“Capital Square is bullish on multifamily properties like Candleglow Apartments that have the potential for immediate income growth and do not require substantial renovations. Finding a solid apartment community at a reasonable price in good condition is like finding a needle in a haystack.”

Rogers adds, “This is Capital Square’s 16th DST to be fully subscribed since inception in late 2012 and we look forward to continuing to provide investors with high quality real estate properties from different asset classes as we grow the DST platform.”

Candleglow Apartments, located at 1071 Candlelight Blvd. in Brooksville (greater Tampa area), is a garden-style community with 10 residential two-story buildings and a single-story clubhouse.

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

Julie Leber                                                                          
Spotlight Marketing Communications                 
949.427.5172, ext. 703                   

                                       

Central Tavern Receives Approval to Open in Downtown Winter Haven, FL

  
Winter Haven, FL — A new, upscale bar concept, Central Tavern, is coming to Downtown Winter Haven this fall

DTWH, LLC, the owners of 25 bar and restaurant franchise locations throughout Florida, has received approval from the city to begin construction on its latest venture.

 Work is now underway and Central Tavern is expected to open by the end of November at 273 W. Central Avenue.

“This will be unlike any of our other concepts,” said Tom Elliott of DTWH, LLC, which also owns the Paddywagon Irish Pub and Linksters Tap Room franchises. “Central Tavern will have a historic motif, including photos of old Winter Haven.”

“We met with Six/Ten several years ago and were intrigued by their vision for revitalizing the downtown region,” said Elliott. “We believe the area is quickly becoming a dynamic and highly desirable destination for dining and entertainment.”

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

Michelle Friedman Griffith
BoardroomPR
407-973-8555

Fastest WiFi in America to Come Standard at New Centex Community Sereno in Tampa, FL Area


Sean Strickler
Tampa, FL --- Sales are in full swing at Sereno, the newest Centex community in the Tampa area located on Bella Armonia Circle, just east of U.S. 301 and Sun City Center Blvd. in Wimauma.

Sereno, an ULTRAFi Community, is a first-of-its kind residential environment where every home is built to be a Smart Home and every resident will enjoy the fastest internet and WiFi speeds in North America.

Sean Strickler, division president for Centex and PulteGroup in the West Florida region, said homeowners at Sereno will enjoy up to an exclusive 1 Gigabit of internet and WiFi speeds (100 times faster than average broadband speeds) by the pool, on the trails, in the clubhouse and at the playground.

Strickler said homebuilder builds new one and two-story homes with two-car garages at the gated community where home buyers choose from four distinct floor plans.

New Centex homes with two to six bedrooms and two to three bathrooms are priced from the low $200s at Sereno, and range in size from 1,674 square feet of living area to 2,662 square feet.

 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

Friday, August 28, 2015

Bull Realty Brokers $2.8 Million Sugarloaf Walk Shopping Center Sale in Lawrenceville, GA


John Harrison
ATLANTA, GA — Bull Realty brokered the sale of Sugarloaf Walk Shopping Center, a 22,685 sq ft retail strip center in Lawrenceville, GA. The sale closed on July 17, 2015 for $2.825 million.

John Harrison and Frank Meyrath of Bull Realty’s National Retail Group represented the seller, Sugarloaf Walk Shopping Center, LLC, a private investment group based in Houston, TX with a satellite office near Athens, GA.

“Our marketing generated multiple offers,” said Meyrath. Adding, “What was amazing is that competition got quite heated as a New York area investor outbid a Chicagoan and a local Atlanta based investor.”

The property is well located in Gwinnett County with strong traffic counts and over 69,000 population within a 3 mile trade area.

The buyer was Sugarloaf Parkway, LLC.

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

Melissa Henry
Communications Associate
Bull Realty, Inc.
50 Glenlake Pkwy, Suite 600
Atlanta, GA  30328

404-876-1640 x 110

Bull Realty Brokers $4.9 Million CVS Sale in Cullman, AL


 
Michael Bull
 ATLANTA, GA —Bull Realty brokered the sale of a CVS in Cullman, AL, a 13,600 sq ft freestanding retail building. The sale closed on August 5, 2015 for $4.9 million.

Michael Bull, CCIM with Bull Realty, represented a local 1031 Exchange buyer, Guggie H, LLC, in the purchase of a triple net investment opportunity, with a corporate guaranteed lease to CVS with 25 years on primary term.

Strategic 1031 Exchange Advisors, LLC acted as a Qualified Intermediary. The seller, LL Cullman AL, LLC, was represented by John Glass with Marcus & Millichap.

“The purchaser utilized a 1031 to exchange from an older asset with a low cash flow in San Francisco into a newer safe income-stream property,” said Bull.

Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com). The popular weekly show is broadcast on 40 radio stations nationwide, iTunes, YouTube and CREshow.com.

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

Melissa Henry
Communications Associate
Bull Realty, Inc.
50 Glenlake Pkwy, Suite 600
Atlanta, GA  30328
404-876-1640 x 110
Michael Bull AL License #83872


Thursday, August 27, 2015

HFF closes $35.5 million sale of mixed-use development site in Miami, FL


Manny De Zarraga
MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $35.5 million sale of Miami International Centre, a 20.89-acre former yacht manufacturing facility and existing 90-slip marina with access to the Miami River in Miami, Florida.

HFF marketed the asset on behalf of the seller, Alecta Real Estate Investment (Alecta).  Interterra Investments Group purchased the offering.

Miami International Centre is poised to be home to a world-class mixed-use development featuring retail, hotel, residential, office and/or marina uses. 

At almost 21 acres, it is the largest land parcel located immediately east of the Miami International Airport and is directly across from the Miami Intermodal Center, Florida’s most significant rail transportation hub.  

The site is part of the recently-created 220-acre Palmer Lake Metropolitan Urban Center zoning district established by Miami-Dade County to foster the creation of a modern urban center.



Maurice Habif
Miami International Centre consists of the Upland Parcel, which houses six warehouse buildings totaling 360,626 square feet, and the Marina Parcel, which has 37,982 square feet of existing buildings plus 90 covered boat slips.  The site has access to Biscayne Bay via its proximity to the Miami River.

The HFF capital markets team representing Alecta was led by executive managing director Manuel De Zárraga, associate director Maurice Habif, managing director Jaret Turkell and director Marty Busekrus.

“With its proximity to Miami International Airport, the Miami Intermodal Center, the Miami River and the Dolphin Expressway (SR 836), we feel that the Miami International Centre site is the most highly-connected development opportunity in Florida,” Habif said.  

“With the recent zoning changes to Palmer Lake, the site and the immediate area are ready to become the next great hub of development within South Florida.”

Speaking on the Miami International Centre, Interterra Investments Group head Jorge Hector Bernstein has voiced that he considers the property the epicenter of Palmer Lake, and the property’s proximity to an international airport ties into one of his personal mottoes: Look for today's busiest airports, and you will find the great urban centers of tomorrow.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


Colliers wins leasing assignment for 302,825-SF, 100% occupied Aventura Industrial Center in Aventura, FL

  
 
Jonathan Kingley
MIAMI, FL (Aug.  27, 2015) – Colliers International South Florida has been retained for the leasing of the Aventura Industrial Center, one of the most well-situated industrial facilities in the Miami-Fort Lauderdale area.

The two buildings, located at 555 NE 185th Street and 320 NE 187th Street, are 100 percent leased and total 302,825 square feet.

Colliers International South Florida takes pride in its long-term relationships with building owners. The team has worked with Stockbridge Capital Group, Aventura Industrial Center’s owner and landlord, for several years on a wide variety of assignments, including Cypress Park West, a 230,000-square-foot Class A office park in Fort Lauderdale.

Stockbridge Capital is being represented by Jonathan Kingsley, Executive Vice President of Colliers International South Florida assisted by Ryan Goggins, Senior Associate.

Goggins recently joined Jonathan Kingsley and Stephen Rutchik’s team, which is responsible for 2.5 million square feet of leasing in South Florida, focusing on the Miami and Fort Lauderdale markets.
  
Ryan Goggins
Aventura Industrial Center is centrally located among Miami-Dade and Broward counties’ four core drivers of growth: Port of Miami, Port Everglades, Miami International Airport and Fort Lauderdale-Hollywood International Airport.

Major tenants at the facility include seafood wholesaler Kansas Marine Co. and DFASS Group, the world's largest in-flight Duty Free specialty retailer.

“Well-located, quality industrial space in Miami such as the Aventura Industrial Center is in high demand and the supply is increasingly limited,” said Kingsley. “This tight market is expected to continue, as vacancy rates are low and expected to go even lower.”

Stockbridge Capital is an independent real estate investment management firm with a portfolio of approximately $9.8 billion of assets throughout the United States spanning all major real estate property types.

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

Leah Saunders
B2 Communications
727-895-5030, ext. 104


Twitter (@ColliersIntl)

Private investor buys $2,1 Million Class A 18,645-SF warehouse in Naples, FL for fitness and training facility


 
Jim Tamblyn
NAPLES, FL (Aug. 27, 2015) – A private investor has purchased a Class A industrial warehouse with plans for a fitness and training facility. The 18,645-square-foot industrial space sold for $2.1 million.

The building is 100 percent air-conditioned, an unusual feature for a facility of this type, and features 20-foot ceilings, a truck well and grade level overhead doors.

Jim Tamblyn, CCIM, Senior Associate for Colliers International Southwest Florida, represented the buyer, RICDEN,  LLC. The seller is Baron Investment Corp. of Naples.

With a limited supply of Class A industrial space in Southwest Florida, the buyer purchased space that’s twice as large as what was required for its use of the facility, while providing the opportunity to lease the other half of the building at an attractive rental rate.



3600 Westview Drive, Naples, FL
“It was key for the buyer to secure high-quality flex industrial space large enough to accommodate a significant amount of physical training equipment,” said Tamblyn.

 “The price reflected the high market demand for industrial space, with sales prices and lease rates approaching levels that could support speculative construction in the area.” 

Located at 3600 Westview Drive in Naples, the facility will be sectioned by a new firewall to split the floor plan. Herbeau Creations of America, Inc., a  distributor of crafted sanitary ware, sinks and faucets, will remain a tenant and will lease a portion of the space from the new owners.

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

Juliette Lauer
B2 Communications
727-895-5030, ext. 107


Cohen Commercial Realty Completes Seven Lease Deals in South Florida


Bryan S. Cohen
JUPITER, FL — Bryan S. Cohen and Allan Carlisle of Cohen Commercial Realty, Inc. announced the signing of Park Avenue BBQ to lease a 5041-square-foot space at Jupiter West Plaza located at the northwest corner of Indiantown Road and Central Boulevard. They join Winn-Dixie Supermarket, Pet Supermarket, Tijuana Flats, and Panera Bread. Cohen Commercial represents the landlord in this transaction.
  
PORT ST. LUCIE, FL  – Bryan S. Cohen and Chris Haass of Cohen Commercial Realty, Inc., represented Pollo Tropical of Miami, Florida, in successfully procuring a new lease for an outparcel pad site located at Shoppes at St. Lucie West, Port Saint Lucie, Florida.

 WEST PALM BEACH, FL — Bryan S. Cohen and Allan Carlisle of Cohen Commercial Realty, Inc., announced the signing of Yip TV Inc., to lease a 3,236-square-foot-space at The Blackstone Building located on the corner of Clematis and Dixie. Cohen Commercial Realty, Inc., represents the landlord in this transaction.

 CORAL SPRINGS, FL — Bryan Cohen and Travis Langhorst of Cohen Commercial Realty, Inc., and John Breder of the Breder Companies, announced the signing of Painting with a Twist to lease a 2,270-square-foot space located at the Plaza at Coral Springs. Cohen Commercial represents the
landlord and John Breder represented the tenant in this transaction.

Allan Carlisle
 WEST PALM BEACH, FL  Christopher Haass and Bryan Cohen of Cohen Commercial Realty, Inc., represented Dorrian's Red Hand Restaurant of New York City in successfully procuring a new lease term with options, for a 4,005-square-foot space located at 215 Clematis Street in West Palm Beach, Florida.

 PALM BEACH GARDENS, FL  — Bryan Cohen and Travis Langhorst of Cohen Commercial Realty, Inc., announced the signing of HEET Jewelry to lease a 1,320-square-foot space located at 4121 Burns Road in Palm Beach Gardens. Cohen Commercial represents the tenant in this transaction.

 NORTH MIAMI BEACH, FL — Christopher Haass and Bryan Cohen of Cohen Commercial Realty, Inc., represented Moe's Southwestern Grill of West Palm Beach, Florida, in successfully procuring a new lease term with options for a 2,100-square-foot space located at 12545 N. Biscayne Boulevard in North Miami Beach.

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

Kacy Martin
Cohen Commercial Realty, Inc.
5041 Okeechobee Boulevard
West Palm Beach, Florida 33417
Mailing Address:
P.O. Box 223244
West Palm Beach, Florida 33422
561.471.0212 Office
561.471.5905 Fax

Wednesday, August 26, 2015

KZF Development Reaches 80-Percent-Sold Milestone at Meadow Ridge in Northbrook, IL



CHICAGO, IL– Northbrook, Illinois-based KZF Development has announced that homes have been moving fast this summer at Meadow Ridge, its private gated community of 164 luxury townhomes and duplexes in Northbrook.

Currently, Meadow Ridge has one duplex available for immediate delivery and another scheduled for completion in early spring. Both duplexes offer three bedrooms and 2½ baths.

An early-delivery townhome is also under construction. Set for delivery in four months, the townhome has three bedrooms and 2½ baths.

Located at Waukegan and Founders roads, Meadow Ridge is a maintenance-free community resting on 40 acres in a park-like setting with natural landscaping, water features and a mile-long walking/biking path around the perimeter of the development. Homeowners have a choice between two townhouse floor plans and four duplex designs that all feature two- to three-bedrooms, 2½ baths and attached two-car garages.
  
For a complete copy of the company’s news release, please contact:

Kelly Shumaker kshumaker@taylorjohnson.com, (312) 267-4519

Emily Johnson, ejohnson@taylorjohnson.com, (312) 267-4522

The Habitat Company Awarded Management of New 1000 South Clark Development in South Loop of Chicago, IL


Sheila Byrne
CHICAGO, IL – Chicago-based The Habitat Company, a leading multifamily property developer and manager in the United States, announced it has been awarded the property management contract for 1000 South Clark, a new 469-unit luxury apartment tower in Chicago’s South Loop neighborhood.

The building, which broke ground in the summer of 2014, is slated for delivery in early 2016.

“We’re very proud to partner with JDL Development and iStar on their largest and most ambitious rental property to date,” said Sheila Byrne, executive vice president of The Habitat Company.

“Residents have high expectations when it comes to living in a Habitat-managed building, so the endless list of amenities and top-of-the-line finishes at 1000 South Clark perfectly complement the high level of service synonymous with the Habitat name.”

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

Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523
Kim Manning, kmanning@taylorjohnson.com, 312.267.4527

Hold-Thyssen Negotiates Long Term Lease with Family Counseling Service at Counsel Square in New Port Richey, FL


Carol L. Kinnard
TAMPA, FL --- Carol L. Kinnard, transaction specialist at Hold-Thyssen, LLC, a commercial real estate services firm with offices in Tampa, recently negotiated a long-term lease renewal with a long-time tenant at Counsel Square I in New Port Richey.  

Suncoast Life Solutions, Inc., a tenant for over five years in Counsel Square I at 7612 Little Rd., renewed their lease of Suite 300C with 800 square feet. 

Suncoast President Denise McKenzie, who worked with Kinnard and the landlord said she is very pleased with the building enhancements since Hold-Thyssen Real Estate Services was awarded the property management at Counsel Square I.

Suncoast Life Solutions is a family counseling service that helps clients of all ages face emotional challenges in their daily lives.


Hold-Thyssen provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than100 commercial properties throughout the United States.

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

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