Wednesday, August 17, 2016

Cohen Commercial Realty Signs Advanced Audiology In New South Florida Lease Transaction

Bryan S. Cohen

Hallandale, FL —Bryan S. Cohen, Jason Guralnick and Scott Witkowski of Cohen Commercial Realty, Inc., announced the signing of Advanced Audiology to lease a 656-square-foot space at 7th Avenue Village located at 645 W Hallandale Beach Boulevard in Hallandale.  

They join WingStop, T-Mobile, Marco’s Pizza, and more.  Cohen Commercial represents the landlord in this transaction.

Cohen Commercial Realty, Inc., is a full-service commercial real estate brokerage firm dedicated to fulfilling client needs quickly and efficiently throughout the South Florida market and beyond.

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

Donna Cordes
561.471.0212 Office
561.471.5905 Fax

Marcus & Millichap Brokers Sale of 28-Unit Eden Court Apartments in Tampa, FL

Joshua Teplitzky
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 Eden Court Apartments, a 28-unit apartment community located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,765,000.

Joshua Teplitzky, senior associate, Francesco P. Carriera and Michael P. Regan, both first vice president investments, all in Marcus & Millichap’s Tampa office, secured both the buyer and seller in this transaction.

Eden Court Apartments is a 28-unit multifamily community located at 3712 West Cass Street in Tampa, Florida. The property consists of two, two-story buildings and the buildings are comprised of 28 one-bedroom/one-bathroom units with 700 rentable square feet. The property sits on approximately .58 acres and all units have individual air conditioning.

The interior of the units were upgraded with laminate hardwood flooring, vinyl tile in the kitchens and bathrooms in select units, ceramic tile in the kitchens and bathrooms in select units and new windows in select units.

“This property was sold to a local Tampa investor who saw significant value in the location within the Westshore Business District,” says Teplitzky. “One day after closing the buyer was able to raise the rents over $150 from the property’s previous asking rates. The buyer plans to enhance the property’s curb appeal and improve the asset through a substantial renovation plan.”

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

Richard D. Matricaria
First Vice President / Regional Manager, Tampa

(813) 387-4700

Marcus & Millichap Arranges $8 Million Sale of 188 Condos in Orlando, FL

Michael Donaldson
ORLANDO, FL – 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 188 condominiums located in Orlando’s Los Robles Condominiums, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $8,084,000.

Michael Donaldson and Nicholas Meoli, both vice president investments in Marcus & Millichap’s Tampa office, secured and represented the buyer, a limited liability company based in Ormond Beach, Florida.

Los Robles Condominiums is located at 4500 Silver Star Road in Orlando, Florida, and the sale included 188 out of the 200 total units. 

The unit mix consisted of 46, one-bedroom/one-bathroom units with 765 rentable square feet, 126 two-bedroom/two-bathroom units with 1,000 rentable square feet and 16 three-bedroom/two-bathroom units with 1,200 rentable square feet.

“Los Robles was an exceptional opportunity for our buyer to capitalize on a near stabilized bulk condominium with majority ownership of the association intact,” says Donaldson.

“With spacious floor plans, attractive renovations that took place during the condo conversion in 2007 and continued further improvements by the buyer, Los Robles will prove to be one of the most attractive rental communities in the submarket,” concludes Meoli.

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

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

Stepp Commercial Completes $2.7 Million Sale of Bungalow-Style Apartment Property in Santa Monica, CA

Kimberly Roberts Stepp
Santa Monica, CA, Aug. 17, 2016 – Stepp Commercial, a leading multifamily brokerage firm in the Santa Monica market, has completed the $2.7 million sale of a fully occupied six-unit apartment property located in the prime, north of Wilshire area just one block south of Montana Avenue at 919 20th Street in Santa Monica. 

Kimberly Roberts Stepp, principal with Stepp Commercial, represented the seller, Los Angeles-based Devlaur, LLC, as well as the buyers, San Diego-based private investors. 

The transaction closed at a cap rate of 3.4 percent and the price per unit was $450,000. 

“This ideally located, well maintained property was a suitable 1031 exchange and is a solid long-term investment for the buyers,” said Stepp.

 “The new ownership plans on making additional unit upgrades in order to bring rents up to market rates upon future vacancies. In this particular area of Santa Monica rents have peaked to record levels due to the upscale neighborhoods and highly rated school district.”

Built in 1950 and situated on an over-sized lot in excess of 8,000 square feet, the bungalow-style property consists of three two-bedroom units and three one-bedroom units.

Stepp Commercial is a brokerage firm specializing in the multifamily sector for properties ranging in size from $1 million to $50 million. Stepp Commercial’s mission is to provide apartment owners with a fully integrated sales platform that includes comprehensive market knowledge and local real estate expertise to successfully complete any type of multifamily transaction.

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

NAI Realvest Names Statewide Real Estate Development Expert Jon Walls as Development Services Director

Jon Walls
ORLANDO, FL-- NAI Realvest, which ranks as one of Central Florida’s most prominent commercial property developers and brokerages, has named commercial real estate veteran Jon Walls, as development services director for the firm.

Walls has over 30 years of experience in real estate development consulting services.  He was a principal at the statewide engineering firm Miller Legg, and was responsible for a variety of state, national and international clients.

He was also a founder and vice president of civil engineering firm Ivey, Harris and Walls in Winter Park. 

“Jon Walls is one of the most experienced real estate consultants in the state when it comes to large-scale industrial and office parks, shopping centers, multi-family and residential projects. He will be a great asset to our development team managing our major construction projects,” said Patrick Mahoney, president of NAI Realvest.

Walls received his Bachelor’s of Science degree from West Virginia University and studied Urban Planning at the University of Miami. He is a licensed real estate agent and registered landscape architect.  

He is a member of the UCF Foundation Real Estate Committee, past chairman of the Orange County Research and Development Authority and past vice chairman of Orlando Board of Zoning Adjustment, which are just a few of the organizations he has played a significant role in throughout his career.

As NAI Realvest’s Development Services Director, Walls will supervise development consulting services for all types of residential and commercial real estate projects the firm will undertake.

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

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

NAI Realvest Negotiates Two Professional Office Leases at La Vina Marketplace in Lake Nona, FL

Mary Frances West
ORLANDO, FL--- NAI Realvest recently negotiated two lease agreements for professional office space in Building A of La Vina Marketplace, 9145 Narcoossee Rd. in the Lake Nona area of Southeast Orlando. 

Mary Frances West, CCIM Vice President at NAI Realvest negotiated the leases representing the landlord Orlando-based Ripley’s International, LLC. 

WS Corporate Solutions, Inc., a staffing company, leased 1,610 rentable square feet in Suite A-208 at La Vina and was represented in the transaction by Celso Pedrosa of La Rosa Realty.

Suite A-204 with 1,306 rentable square feet was leased at La Vina Marketplace by Select Physical Therapy Holdings, Inc.   Jeff York of York Property Company and Jason Blank with Jackson Cross Partners, LLC in King of Prussia, PA represented the tenant.   

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

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

Hold-Thyssen Negotiates Two Lease Agreements at Phillips Place in Southwest Orlando, FL

Darby Hold
ORLANDO, Fla. --- Hold-Thyssen, a real estate services firm headquartered in Winter Park, recently negotiated two lease agreements for professional office space at Phillips Place, 7575 Dr. Phillips Blvd. in Southwest Orlando. 

Darby Hold, transaction specialist for Hold-Thyssen, Inc. negotiated both transactions on behalf of the Cincinnati, Ohio-based landlord, Financial Way Realty, Inc. 

Tenant Real Estate Closing Solutions, LLC a full-service independently owned statewide agency specializing in title insurance and escrow services signed an extension and expansion lease.

 The agency has called Phillips Place home for the last few years and has expanded into an additional 1,229 square feet and now occupies a total of 2,190 square feet.  Christine Elias with Exit Realty represented the tenant.

At the same time, Latitude Promotions, Inc. renewed its lease of Suite 325 with 1,120 square feet at Phillips Place.

Hold-Thyssen, Inc. is the leasing and management representative for the 56,000 square foot Phillips Place.  The real estate services firm 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 that 100 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

BKM Capital Partners Acquires 27-Building Multi-Tenant Light Industrial Park in Seattle Metro for $45.2 Million

            Tukwila, WA, Aug. 17, 2016 – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has acquired the Tukwila Commerce Center, a 27-building 476,765 square-foot multi-tenant light industrial park in the Seattle metro area, for $45,200,000.

The property, which is situated in the Kent submarket of Tukwila, Washington, was acquired at a discount to replacement cost and peak pricing, according to Brian Malliet, CEO and Co-Founder of BKM Capital Partners.

Brian Malliet
“Kent is the third largest industrial area in the U.S. and one of the fastest growing markets,” says Malliet. “Our ability to source and acquire an industrial park of this size at a significant discount to replacement cost in such a strong, growing market speaks to the strength of our reputation and investment strategy.

“We are capable of identifying what an asset can be rather than what it is now, and we recognize the tremendous value in this asset, and in the overall Kent Valley.”

Malliet explains that the Kent Valley submarket boasts 97.4 percent industrial occupancy with extremely high barriers to entry, providing a strong opportunity for long-term demand and rent growth.

Seattle is home to Boeing (ranked 27th on the Fortune 500 list), Amazon (ranked 29th on the Fortune 500 list) and Microsoft (ranked 31 on the Fortune 500 list). Boeing currently has a record high backlog of $489 billion in orders, which equates to more than 7 years of work. Additionally, Apple just announced a search for one million square feet in the Seattle Metro.

Brett Turner
“Industrial rental rates are soaring throughout the region based on extremely low vacancy rates, high barriers to entry and strong demand from prominent warehouse distribution and manufacturing centers across the country,” says Malliet.

Constructed in 1978 by the Koll Company, BKM Capital Partners plans to upgrade the Tukwila Commerce Center through a series of key cosmetic improvements. 

Despite its lack of newer amenities, the asset has historically demonstrated strong tenant retention, according to Brett Turner, Director of Acquisitions at BKM Capital Partners, who notes that approximately 31 percent of tenants have occupied the location for over 10 years.

“The asset’s historically high retention rate further proves the property’s quality location and functionality,” says Turner. “Using our integrated approach, the BKM team will optimize and fully reposition the property through a series of capital improvements, ultimately adding significant value to the property.”

BKM Capital Partners plans to implement improvements to the interior and exterior of the buildings, totaling $7.9 million, that will enhance the overall aesthetic and functionality of the property.

Darla Longo
 Planned improvements include creative upgrades to the paint, landscape, exterior facades, tenant and monument signage and common areas, among others.

“By implementing these cosmetic improvements, we will be able to bring current rents up to market value and further attract quality, long-term tenants,” adds Turner.

The property is located at 601-699 Strander Blvd and 800-1164 Industry Drive in Tukwila, Washington, just off the intersection of the I-5 and 405 freeways and approximately 13.5 miles from downtown Seattle.

The seller was represented by Darla Longo and Brett Hartzell at CBRE. For more information about this property, visit

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

Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

American Realty Advisors Scores Premier Retail Asset with Strong National Tenant Roster in Boston Metro for $206 Million

                The shops at University Station, Westwood, MA              Photo by Gene St. Pierre                                                      

             WESTWOOD, MA – American Realty Advisors, an institutional real estate investment manager with over $7.5 billion in assets under management, has acquired the shops at University Station, a newly constructed, 400,000 square-foot retail asset located within a 130-acre mixed-use live/work/play development in the dynamic Boston submarket of Westwood, Massachusetts, for $206 million.

Martha Shelley
“Our focus on acquiring assets in supply constrained markets which are transit oriented and unique is represented by our ability to acquire University Station as part of our core investment strategy,” says Martha Shelley, Senior Portfolio Manager at American Realty Advisors.

“This ability to acquire assets such as the Westwood location in the Boston market is very important to our approach to investing, as the limitations on growth and development in this market provide us with a margin of safety for our investment strategy,” says Ms. Shelley, “as well as providing strong upside potential based on its strategic location within a newly constructed premier mixed-use development, its national tenancy and proximity to major transit, and the attractive demographics of the surrounding trade area.”

As part of a 2.1 million square-foot mixed-use development that includes retail, residential, office, and hospitality product, the retail portion of University Station is anchored by Wegmans, a dominant upscale regional supermarket chain, and shadow anchored by Target and Lifetime Fitness. The asset also boasts a series of national tenants including Nordstrom Rack, Marshalls, and PetSmart.

“Our focus is on investing in fortress locations driven by geographic, economic, political or other supply constraints which makes it difficult to replicate other developments in the market; thus driving up long term value for our investors,” continues Ms. Shelley.

Scott Anderson

“The average term of in-place leases for the property is approximately 15 years, while 95 percent of the asset’s total income is generated from its national tenant base. We believe these characteristics will provide stabilized risk-adjusted returns for our investors over time.”

Scott Anderson, Director in American’s Investment Group, adds that the Boston metro area demonstrates strong fundamentals, and that University Station is very unique and services a substantial trade area that includes 13 towns, comprised of approximately 214,700 residents with an average annual household income in excess of $121,000.

“These factors add to the appeal of the property, and indicate that the region is poised to perform well over time,” says Mr. Anderson.  “Further, University Station is a transit-oriented destination that will draw consumers from across the region on a consistent basis.”

The property is situated approximately 15 miles from downtown Boston in immediate proximity to Interstate 95 and Route 128, which draw approximately 140,000 vehicles per day, as well as the region’s sole Amtrak/MBTA commuter rail station, which transports 1.3 million travelers annually.

Robert E. Griffin Jr.
“Overall, this property represents a high quality addition to our existing portfolio.  With our active and hands-on management platform, American will continue to identify opportunities to drive value in this premier core asset,” Mr. Anderson adds.

University Station is located between 100 and 300 University Ave. in Westwood, Massachusetts. 

New England Development will continue to serve as the management and leasing agent for the retail center.  

The seller, Westwood Marketplace Holdings LLC, was represented by Robert E. Griffin Jr., who was with Cushman & Wakefield and is now with Newmark Grubb Knight Frank

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

Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Berger Commercial Realty Welcomes Sales Associate Lawrence Oxenberg

Lawrence Oxenberg
FORT LAUDERDALE, FL (Aug. 17, 2016) – Berger Commercial Realty recently announced that Lawrence Oxenberg has joined the team as a sales associate.

 In his new role, Oxenberg is responsible for representing landlords as well as local and national independent and franchise tenants in leasing, buying and selling retail properties throughout Broward, Miami-Dade and Palm Beach counties.

Prior to joining Berger Commercial Realty, Oxenberg served as an associate at Behar Real Estate Group, Inc. in Miami for three years, where he transitioned into commercial real estate after a 17-year-long career in seafood brokerage and manufacturing.

From 2010 to 2013, Oxenberg served as vice president of FSF Trading Corp in Miami, where he supervised the import and brokerage of fresh and frozen seafood. From 2006 to 2010, he operated as a seafood specialist in Medley at Sysco Food Services of South Florida and was responsible for sourcing seafood products, creating marketing campaigns and training a sales staff of more than 100 individuals.

Lloyd Berger
Prior to joining Sysco, Oxenberg served as vice president of SeaSpecialties, Inc. for ten years, where he managed sales and operations of two seafood processing plants in Pennsylvania and New York and was responsible for product distribution throughout the mid-Atlantic and Northeast regions of the United States.

“Lawrence brings to our firm a wealth of leadership, marketing and sales skills," said Berger Commercial Realty President Lloyd Berger. "Coupled with his experience in the local commercial real estate market over the past few years, his career in imports and exports gives him a solid understanding of business needs in South Florida."

Oxenberg received his Bachelor of Arts from George Washington University in Washington, D.C., in1996.

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

Pierson Grant Public Relations
Lexi Robinson, ext. 255,
Marielle Sologuren, ext. 226,

Newmeyer & Dillion Attorneys of Newport Beach, CA listed in ‘The Best Lawyers in America 2017

Carol Sherman Zaist
NEWPORT BEACH, CA – Prominent business and real estate law firm Newmeyer & Dillion LLP is pleased to announce that eight of the firm’s attorneys were recently selected for inclusion and will be recognized in their respective areas in The Best Lawyers in America© 2017. They are:
  •  Michael Cucchissi -- Real Estate Law
  • Joseph A. Ferrentino -- Litigation-Construction Litigation-Real Estate
  • Bonnie T. Roadarmel - Insurance Law
  • Jeffrey M. Dennis - Insurance Law
  • Thomas F. Newmeyer - Commercial Litigation-Construction Law - Litigation Real Estate
  • Carol Sherman Zaist - Commercial Litigation
  • Gregory L. Dillion - Commercial Litigation-Construction Law - Insurance Law 
  • John A. O'Hara - Litigation - Construction

Beyond the above recognition, Greg Dillion was also named the Best Lawyers®  2017 Construction Law "Lawyer of the Year" in Orange County.

Gregory L. Dillion

Best Lawyers is the oldest peer-review publication for the legal profession. Attorneys are chosen through intensive peer-review surveys in which leading lawyers evaluate their professional peers.

Best Lawyers listings are published in almost 70 countries worldwide and are recognized for their reliable and unbiased selections.

For more than 30 years, Newmeyer & Dillion has delivered creative and outstanding legal solutions and trial results for a wide array of clients. 

With over 70 attorneys practicing in all aspects of business, employment, real estate, construction and insurance law, Newmeyer & Dillion delivers legal services tailored to meet each client’s needs. 

Headquartered in Newport Beach, California, with offices in Walnut Creek, California and Las Vegas, Nevada, Newmeyer & Dillion attorneys are recognized by The Best Lawyers in America©, and Super Lawyers as top tier and some of the best lawyers in California, and have been given Martindale-Hubbell Peer Review's AV Preeminent® highest rating.

 For additional information, call 949-854-7000 or visit

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

Gia Altreche 949.271.7338 or