Monday, March 7, 2016

Hanley Investment Group Negotiates Sale of Hamilton Center in Huntington Beach, CA for $3.3 Million

Hamilton Center, 9502--9510 Hamilton Avenue, Huntington Beach, CA

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, announced today that the firm completed the sale of Hamilton Center, a 6,800-square-foot multi-tenant shopping center in Orange County, Calif., for $3.3 million, representing a cap rate of 4.77 percent. 

Hanley Investment Group’s Executive Vice President Eric Wohl and President Ed Hanley represented the seller, a local investment company. Eric Vu, an associate with Hanley Investment Group, represented the buyer, a local investor in a 1031 exchange.   

Built in 1987 on .66 acres, the retail center is located at 9502-9510 Hamilton Avenue in Huntington Beach, Calif. and includes tenants 7-Eleven, Whata Lotta Pizza, a dental office and dry cleaners. Hamilton Center was 100 percent occupied at the time of sale.

“This is a rare coastal Orange County strip center that immediately generated 10+ offers,” said Wohl. “It is a trophy Huntington Beach location with a 100-percent occupied multi-tenant strip center situated at a signalized intersection, one mile from the ocean.”

Vu said that the buyer sold his management-intensive apartment property and was looking for a quality investment with ease of management. “We delivered a property that met all of the buyer’s requirements; being in a highly-desirable Orange County market and with excellent demographics of $105,000 within a one-mile radius of the property was truly a ‘flight to quality’ for the buyer,” Vu added.

Ed Manley
Other factors that made the property appealing to the buyer was the long-term historical occupancy of the tenants. “7-Eleven and Whata Lotta Pizza represent 51 percent of the square footage and have successfully operated at the center since 1987 and 2000, respectively,” Wohl noted.

Vu added that 7-Eleven recently executed an early lease extension, which further speaks to the strength of this location. 

“Well-located multi-tenant strip centers offer a viable alternative to single-tenant net-leased properties as they offer an investor diversification of risk and, typically, a better yield,” said Wohl. “And, with a recently renewed 7-Eleven as an anchor, the buyer knows the center will have a strong draw for years to come."

Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $5 billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the highest value is achieved.

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

Anne Monaghan

Meridian Capital Group Arranges $18 Million in CMBS Financing for Deerfield Plaza Shopping Center in Orlando, FL

Deerfield Plaza, 12700 South Orange Blossom Trail, Orlando, FL

New York, NY, March 7, 2016 – Meridian Capital Group, America’s most active debt broker, arranged $18 million in CMBS financing for the refinance of Deerfield Plaza, a shopping center located in Orlando, FL on behalf of Blue Sphere.

Tal Bar-Or
The 10-year loan, provided by a CMBS lender, features a competitive fixed-rate and four years of interest-only payments. This transaction was negotiated by Meridian Managing Director, Tal Bar-Or, who is based in the Company’s New York City headquarters.

Deerfield Plaza is located at 12700 South Orange Blossom Trail and totals 106,292 square feet. The property features a Wendy’s restaurant and is anchored by LA Fitness on a long-term lease through 2026.

 Deerfield Plaza is conveniently located within walking distance of a Wal-Mart, Chipotle, Panera Bread and Dollar Tree, all of which increase traffic flow to the shopping center. The property has seen a tremendous increase in occupancy over the last two years and is currently 95% leased.

“We are proud to have been chosen again by Blue Sphere to represent them on this important financing transaction,” said Mr. Bar-Or. “After evaluating several options and by working in tandem with the lender, we were able to structure a 10-year loan with four years of interest-only payments and a creative reserve structure.

“The execution here speaks to the quality of the sponsorship, property and relationship with the lender,” he added.

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

Jonathan Stern
Meridian Capital Group

Delray Beach Based HC Real Estate Capital Arranges $4.46 Million in Financing for Mixed Use Property In Delray Beach, FL

331 East Atlantic Avenue, Delray Beach, FL
Chris Caveglia
Delray Beach, FL, March 7, 2016 -- Chris Caveglia and Kurt Hoffmann of HC Real Estate Capital have arranged $4,460,000 in financing for the property located at 331 East Atlantic Avenue Delray Beach, FL.

 The 100% leased, two-story mixed-use building property is made up of two retail tenants and eleven apartment units totaling 12,800 SF.   The retail tenants include: Bank United and Peter Mark Salon.  The property is situated on approximately 0.15 acres of land in the heart of Delray Beach on Atlantic Avenue.

Financing was arranged through a regional banking relationship at a competitive fixed interest rate that allowed the borrower to carry out their long-term plan for the property.   

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia.  Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent and bridge commercial and multifamily real estate loans. 
Kurt Hoffmann

The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks.

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

Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273
Mobile: 561-376-3176

NAI Realvest Negotiates New Retail/Office Lease at Poinciana CommerCenter in Kissimmee, FL

Patty Nolff
KISSIMMEE, FL – NAI Realvest recently completed a new long term lease at Poinciana CommerCenter East in Kissimmee representing the landlord /developer, Small Bay Partners, LLC of Maitland.  

Michael Heidrich, a principal at NAI Realvest and associate Patty Nolff negotiated a new lease of 1,620 square feet at 1725 Business Center Lane. The Minneapolis-based tenant is The Valspar Corporation, a global leader in the manufacturer of consumer paints and coatings.

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

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

NAI Realvest Negotiates New Office Lease for Technology Firm at Central Florida Research Parkin Orlando, FL

Tom R. Kelley II
ORLANDO, FL --- NAI Realvest recently completed a new office lease agreement for 7,553 rentable square feet at 12001 Research Parkway in Central Florida Research Park off Alafaya Trail near UCF.

Tom R. Kelley II, CCIM principal and Chris Adams, associate at NAI Realvest, negotiated the transaction on behalf of the local Tenant Advanced Digital Data Systems, Inc. a firm that provides software systems for the energy industry. 

The Miami-based Landlord Banyan Street/GAP Resource Square Three Owner LLC was represented by Jay Dixon of CBRE

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

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

Del Webb Stone Creek Plans March Grand Opening Celebration of Refurbished Reunion Center, Opens Newest Phase of Homesites in Ocala, FL

Sean Strickler
OCALA, FL--- Del Webb Stone Creek in Ocala will host a Grand Opening and ribbon cutting for the newly refurbished Reunion Center Clubhouse for residents at the gated, active-adult community on Friday March 18.  

Sean Strickler, president of Del Webb’s West Florida Division, said the Reunion Center was updated with new paint, carpeting, fixtures and furniture throughout the lobby, hallways, ballroom and library at a cost of over $400,000. 

Reunion Center clubhouse is part of Reflection Bay, an amenity center encompassing 45,000 square feet with a state-of-the-art fitness center, heated indoor and outdoor swimming pools and spas along with tennis, bocce ball, horseshoe and pickleball courts plus a softball field and fishing pier.

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

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

NAI Realvest Negotiates New Office Leases totaling 4,119 Square Feet in Winter Park, FL and Longwood, FL

Megan Minter
 ORLANDO, FL – NAI Realvest recently negotiated three new office lease agreements – two for professional office space on Lee Rd. in Winter Park and one for flex space at Big Tree Crossing in Longwood.

NAI Realvest Associate Chris Adams represented the tenant ExamOne World Wide, Inc. of Madison, N.J. in an office lease agreement for 1,778 square feet at 2269 Lee Rd. in Winter Park. ExamOne provides lab testing and other services to insurance companies.  The landlord SugarOak Lee Road, LLC of Herndon, VA was represented by Nicholas Fouraker of BishopBeale.  

Jeff Bloom, CCIM, vice president at NAI Realvest brokered a lease at Lee World Center, 1850 Lee Rd. in Winter Park representing landlord Pan Coastal Ltd Partnership.  HMC Enterprise Inc. a manufacturer of refrigeration products leased 800 square feet. 

Bloom and Associate Megan Minter negotiated a lease of 1,541 square feet at Big Tree Crossing Industrial Park representing Eton-Hastings Investments, LLC the Lake Mary-based landlord.  The new local tenant, 3 Waters LLC, a water filtration and purification equipment firm, was represented in the transaction by Jack Saltman of Real Property Specialists, Inc.   

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

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