Monday, July 6, 2015

$19.6 Million Sale of Five Net-Leased Childcare Centers in Three States Brokered by Marcus & Millichap

KinderCare, Gambrills, MD

Tammy Saia
PHILADELPHIA, PA,  July 6, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of five net-leased childcare properties to five separate buyers.

 The aggregate sales price for the assets is $19,680,271.

           Four of the properties are KinderCare Learning Centers and one is a Knowledge Beginnings Child Development Center. The KinderCare Learning Centers are located in Florida, Illinois and Maryland. The Knowledge Beginnings asset is in Colorado.

            Dean Zang, first vice president investments, and Christopher Phillips, associate, both in Marcus & Millichap’s Washington, D.C. office, and Mark Taylor, first vice president investments in the firm’s Philadelphia office, represented the seller, a California-based real estate investment fund.

Zang, Phillips and Taylor, along with Tammy Saia, vice president investments in Marcus & Millichap’s Chicago Oak Brook office, and Steven Siegel and Michael Kook in the firm’s Manhattan office, procured the buyers.

Dean Zang
            Sharone Sabar, first vice president capital markets with Marcus & Millichap Capital Corp. in Encino, arranged financing for the purchase of the KinderCare in Orlando, Fla.

“In 2014, we represented the buyer in the acquisition of these assets as a portfolio purchase,” says Zang.

 “Upon completion of that transaction, the purchaser immediately engaged our services to resell the properties on a one-off basis. 

"We completed the assignment in less than 10 months and achieved a return that eclipsed our client’s best case pro forma scenario.”

            The properties are:

·         Knowledge Beginnings, 11,400 square feet, Denver, Colo.
·         KinderCare, 10,340 square feet, Orlando, Fla.
·         KinderCare, 10,340 square feet, Wesley Chapel, Fla.
·         KinderCare, 9,600 square feet, Huntley, Ill.
·         KinderCare, 9,728 square feet, Gambrills, Md.

Stephen Siegel

“This is yet another example of how the Marcus & Millichap national platform is superbly positioned to maximize exposure and pricing to clients with geographically dispersed properties,” adds Phillips.

            Marcus & Millichap’s broker of record in Colorado is vice president Richard Bird, the firm’s broker of record in Florida is first vice president Kirk Felici, and in Illinois the company’s broker of record is first vice president John Przybyla. First vice president Bryn Merrey is Marcus & Millichap’s broker of record in Maryland.

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

Gina Relva
Public Relations Manager

(925) 953-1716

HFF closes sale of fully-leased industrial facility in Houston, TX on behalf of Mayfield Properties, LP

8451 Market Street, Houston, TX
HOUSTON, TX, July 6, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of 8451 Market Street, a 120,810-square-foot industrial facility in Houston, Texas.

HFF marketed the asset on behalf of the seller, Mayfield Properties, LP.  ATCAP Partners purchased the asset for an undisclosed amount all cash and was assisted by HFF in arranging acquisition financing.  

HFF was also involved in the prior sale of the property to Mayfield in 2010.

 8451 Market Street is situated on five acres near the intersection of Interstate 10 East and Loop 610 adjacent to the Budwieser (Div Enbev) beer plant and the Houston Ship Channel, six miles east of Houston’s central business district. 

Rusty Tamlyn
The property features 24’ ceiling heights and a 7.8 percent office build-out.  Tenants at the fully-leased facility include Santini Export Packaging Corporation, who has been in continuous occupancy since the early 1980’s, as well as Area Wholesale Tire and Interglobal Plastics. 

 The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn, director Trent Agnew and real estate analyst John Rogers.

HFF’s debt placement team was led by senior managing director Brian Carlton. 

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

Kristen Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

NAI Realvest negotiates Sale of Vacant Industrial Land near DeLand, FL Municipal Airport

Chris Butera
DeLand, FL --   NAI Realvest recently brokered the sale of 3.68 useable acres of industrial land on Yorktown Street near the municipal airport in DeLand. 

 Chris Butera, investment associate at NAI Realvest, brokered the transaction representing the seller, REO Funding Solutions of Atlanta.

 The local buyer is Perryman Farms, LLC, a tree farm and nursery business who paid $77,280 for the property.    Robert Greene of Greene Realty represented the buyer in the transaction.

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

Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

Joint-Venture Partners Citivest and Angelo, Gordon & Co. Acquire Nine-Property Retail Portfolio in San Diego County, CA for $183.25 Million

Pacific Coast Plaza,  2110-2191 Vista Way, Oceanside, CA
SAN DIEGO, CA (July 6, 2015) – AGC SD Retail Holdings, LLC, a joint venture of Newport Beach-based  Citivest Commercial Investments, LLC and New York-based Angelo, Gordon & Company, has acquired a nine-property retail portfolio in San Diego for $183.25 million, according to Citivest President Larry Weese. 

At the time of sale, the more than 520,000 square-foot portfolio’s average occupancy rate was above 92 percent, 78 percent of which are credit, national or regional tenants.

“All nine of these retail properties are positioned in strong locations within their submarkets and feature historically high occupancy with either strong anchor tenants or shadow-anchors that drive consumer traffic to the centers,” Weese said.

Town Center North, 805 College Boulevard
 Oceanside, CA
“This portfolio will make a strong investment for our company and for our partner, as we will be able to increase the value of this already well-performing portfolio through our leasing and asset management expertise.”

The properties include retail space within Pacific Coast Plaza and Town Center North in Oceanside; Palm Promenade and Stonecrest Plaza in San Diego; East County Square and East County Village in El Cajon; and EastLake Terraces, Eastlake Village Center East and Southbay Marketplace in Chula Vista.

Dwight Belden, Chief Operating Officer for Citivest Commercial Investments, LLC, pointed out, “This is the first time any of these properties had come to market since they were built. Each of the acquired retail spaces is located within the dominant centers in their areas, with historically high consumer traffic. When these factors are coupled with the high barriers to entry in the San Diego market, the potential for growing asset value for these investments is quite strong.”

Larry Weese
Weese added that the properties will be further stabilized in the coming months, and that the partners will also reposition the largest of the acquired properties, Pacific Coast Plaza, through implementing exterior upgrades.

“Acquiring nine separate properties at one time took a lot of patience and dedication,” Weese noted. 

“By working closely with the seller, as well as our joint venture partner, we were able to overcome issues that arose, including the assumption of a CMBS loan, and complete this unique portfolio acquisition.”

            The Citivest team included Weese, COO Dwight Belden, CEO Dana Haynes and VP Jeff Peterson in association with Mark Ferraro of TMC America, LLC.

The new portfolio will be managed by Rob Cord - Managing Director of Real Estate Management Services at Voit Real Estate Services.

 Brokerage was handled by Flocke & Avoyer, San Diego.

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

Corynne Randel / Jenn Quader
Brower, Miller & Cole
(949) 955-7940