Saturday, August 20, 2016

HFF secures $97 million refinancing for Sequoia Plaza in Arlington, VA

Sequoia Plaza, t 2100, 2110 and 2120 Washington Boulevard, Arlington, VA

Cary Abod
WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $97 million refinancing for Sequoia Plaza, a three building, Class A office complex totaling 369,215 square feet in Arlington, Virginia.

Working on behalf of Foulger Pratt, HFF placed the three-year, floating-rate loan with Aareal Capital Corporation.  Loan proceeds were used to retire existing financing and fund leasing costs.

Sequoia Plaza is located at 2100, 2110 and 2120 Washington Boulevard directly across the Potomac River from Washington, D.C. 

Situated on a 5.8-acre site at the confluence of Washington Boulevard and Route 50, Sequoia Plaza is approximately two miles from the Pentagon and five miles from Ronald Reagan National Airport in Northern Virginia. 

The 83-percent-leased property is anchored by AAA credit rated Arlington County, which leases more than 76 percent of the space and operates its School Board and Department of Human Services departments on site.

The HFF debt placement team representing the borrower was led by managing director Cary Abod and associate director Robert Carey.

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

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 |

HFF arranges $19.2 million equity and financing for two-property self storage portfolio in Pennsylvania

Penns Trail Self Storage, 104 Penns Trail, Newtown, PA

PHILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged financing and joint venture equity totaling $19.2 million for a two-property self storage portfolio totaling 1,106 units in Pennsylvania and closed the $11.65 million sale of one of the properties.

Barbara Guffey

HFF arranged the $5 million joint venture equity partnership between Self Storage Capital Partners and a private equity firm and, on behalf of the partnership, placed the $14.2 million, fixed-rate acquisition financing with a CMBS lender for Penns Trail Self Storage and Lanco Mini Storage Center.

Richard Schontz
 Additionally, working on behalf of the seller, JEB Group, LLC (d/b/a) All-Time Self Storage, HFF closed the sale of Penns Trail Self Storage.  Self Storage Capital Partners purchased the asset free and clear of existing debt.

Penns Trail Self Storage is a Class A, multi-story facility built in 2010.  The stabilized, 495-unit property was more than 95 percent occupied at the time of sale.

 Located at 104 Penns Trail in the eastern part of the Philadelphia suburb of Newtown, Penns Trail Self Storage is situated in an affluent area with more than 127,000 residents with a household income averaging more than $130,000 annually living within a five-mile radius of the property.  The facility has easy access to Interstate 95.

Completed in 2006, the 611-unit Lanco Mini Storage Center is 88 percent leased.  The property is located at 1813 Old Philadelphia Pike (Route 340) in Lancaster, a central Pennsylvania suburb near Harrisburg. 

Situated within a large population center of more than 150,000 residents living within a five-mile radius, Lanco Mini Storage Center has visibility from an average of 15,970 vehicles per day along Route 340 and is just off U.S. 30, which has direct access into Harrisburg.

The HFF team was led by managing director Richard Schontz as well as managing directors James Conley and Scott Aiese, director Barbara Guffey and associate director Matthew Weckesser.

James Conley
”The purchase of Penns Trail Self Storage represents a suburban Philadelphia record-setting price per square foot of $234,” Schontz said. 

“Pricing on this transaction was driven by limited supply, historically strong sector performance and the execution on the sale, debt and equity placement by the HFF team.”

“The financing market for this transaction was very competitive, yielding 12 quotes from an array of financing sources,” Conley added.  “The strong lender interest for this assignment helped drive maximum leverage, I/O and pricing for the borrower.”
“We are pleased to acquire these high-quality assets in what was a very smooth transaction,” said Matt Lang, Head of Operations for Self Storage Capital Partners.  “We look forward to continuing to work with the HFF team as we execute our aggressive growth plan.”

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

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 |

Berger Commercial Realty Closes $760,000 Sale of Holy Cross Apartments in Fort Lauderdale, FL

Jonathan Thiel
FORT LAUDERDALE, FL -- Berger Commercial Realty Senior Sales Associate Jonathan Thiel recently represented Holy Cross Hospital in the $760,000 sale of Holy Cross Apartments to I.B.R. Operations, LLC.

Located at 1930 N.E. 45th Street in Fort Lauderdale, the 5,260-square-foot multi-family building consists of two stories and ten units.

The property sits on a 9,093-square-foot lot two blocks west of Federal Highway within walking distance of Holy Cross Hospital.

"The property has eight one-bedroom, one-bath units and two studio apartments that have been vacant for several years," Thiel said. "The new owner plans to renovate the property and rent out the units upon completion."

For a complete copy of the company’s news release, please contact:
Lexi Robinson, ext. 255,

Marielle Sologuren, ext. 226,

Marcus & Millichap Brokers $968,000 Sale of 9,100-SF Dollar General in Luthersville, GA

Daniel Hurd
LUTHERSVILLE, GA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Dollar General, a 9,100-square foot net-leased property located in Luthersville, Georgia, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $968,000.

Daniel Hurd, associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

The buyer, a limited liability company, was secured and represented by Hurd. Michael Fasano, broker, assisted in closing this transaction.

Dollar General is located at 164 South Main Street in Luthersville, Georgia. Constructed in 2010, the subject building is 9,100 square feet and sits on approximately 1.09 acres of land.

 Dollar General currently operates in more than 43 states and focuses on the sale of items such as foods, snacks, health and beauty aids, housewares, cleaning supplies and seasonal items. The company has been rapidly expanding and is set to open approximately 800 new locations this year.

Michael Fasano 
“As a result of our strategic marketing campaign we generated multiple offers on this listing which resulted in a sale to an out-of-area buyer,” says Hurd. 

“This was an excellent opportunity for the buyer to take advantage of historically low interest rates and aggressive financing options to maximize his return on investment.”

“Marcus & Millichap has sold over 92 Dollar General stores so far this year, and is on pace exceed 2015 numbers,” concluded Hurd.

For a complete copy of the company’s news release, please contact:
Ari Ravi
Regional Manager
Tampa, FL
(813) 387-4700

Pamela K. M. Beall and Steven D. Cosler Appointed to Board of Directors of National Retail Properties, Inc.

Pamela K. M. Beall
ORLANDO, FL /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that Pamela K. M. Beall and Steven D. Cosler were appointed to the Board of Directors.

"We are excited to add Pam and Steve to our Board.  Pam's financial expertise and Steve's extensive management experience will make each of them an excellent addition. 

They both bring a broad depth of business skill and prior board experience that will complement our other directors," said Craig Macnab, Chairman and Chief Executive Officer.

Ms. Beall has an extensive background in finance and corporate risk.  She is Executive Vice President Corporate Planning and Strategy of MPLX LP and is a director on the board of its general partner, MPLX GP LLC., a subsidiary of Marathon Petroleum Corporation (MPC), which is a Fortune 50 public company.

 MPLX LP, a publicly traded master limited partnership, is one of the largest petroleum pipeline companies and natural gas processors in the United States.  Previously, she held the positions of Senior Vice President of Corporate Planning, Government and Public Affairs of MPC and President of MPLX.

Steven D. Cosler

 Ms. Beall currently serves on the board of trustees of the University of Findlay, and as a member of the executive, audit, business affairs and capital campaign committees. 

Ms. Beall received a Bachelor of Science, Accounting degree from the University of Findlay, and a Master of Business Administration from Bowling Green State University, and is a non-practicing Certified Public Accountant.

Mr. Cosler has a wide-ranging executive management background.  He is an Operating Partner with Water Street Healthcare Partners, a private equity firm focused exclusively on the healthcare industry.

 Prior to Water Street, Mr. Cosler was President and Chief Executive Officer of Priority Healthcare Corporation, a Fortune 1000 company that distributed and managed biopharmaceutical therapies until its acquisition by Express Scripts.

 He also held executive positions with CoreSource, Inc., one of the nation's largest healthcare administrators and achieved a distinguished career at IBM Corporation.  Mr. Cosler currently serves as a director on four Water Street portfolio company boards, including New Century Health where he serves as Chairman. 

 He also served as lead director of Catamaran Corporation, one of the largest pharmacy benefit managers in the healthcare industry until its acquisition by United Healthcare in July, 2015.

Craig Macnab
  Among his civic contributions, Mr. Cosler co-founded and serves as the Chairman of Elevate Indianapolis, a non-profit organization focused on advancing urban youth.  He received a Bachelor's degree in Industrial Management from Purdue University.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  

As of June 30, 2016, the company owned 2,452 properties in 48 states with a gross leasable area of approximately 26.3 million square feet and a weighted average remaining lease term of 11.4 years.

  For more information on the company, visit

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

Lincoln Awarded Leasing Assignment for The Corners in Peachtree Corners, GA

Michael Howell
ATLANTA (Aug. 19, 2016) – Lincoln Property Company Southeast (Lincoln) has been awarded the exclusive leasing assignment for The Corners, a 290,000-square-foot, four-building office complex located in the Atlanta suburb of Peachtree Corners.

Michael Howell, Matt Davis and George Gwaltney of Lincoln will oversee the leasing at the property on behalf of the landlord, Glenfield Capital.

“We are thrilled to be working with Glenfield Capital on this assignment,” Davis said. “With the property’s recent renovations and location in the heart of Peachtree Corners, we are already experiencing a significant amount of interest from prospects. Peachtree Corners is a highly desirable community recognized for its outstanding demographics, incredible amenities and attractive labor pool.”

Since acquiring the complex, Glenfield Capital has elevated the profile of the park with extensive renovations. 6525 The Corners Parkway is now considered “the best building in Peachtree Corners.” 

The renovations include the lobbies, common areas and bathrooms of the buildings. The new conference center offers modern meeting equipment, flexible seating and free Wi-Fi. 

Matt Davis
The newest addition to The Corners is the fitness center, which features state-of-the-art cardio and weight training equipment. Additionally, a significant renovation to the green space surrounding the buildings is underway which will serve as a great place for employees to relax and collaborate.

The complex features two five-story Class A buildings and two two-story Class B buildings. The Class A buildings, 6525 and 6575, include 20,000-square-foot floorplates, and the Class B buildings, 6025 and 6075, offer 23,000-square-foot floorplates. 

Both buildings offer convenient surface parking and are equipped with dual fiber connections, as well as Georgia Power High Reliable Systems.

The Corners comprises 15 acres located at the intersection of The Corners Parkway and Holcomb Bridge Road with easy access to Interstate 285, and features on-site property management and security patrol.

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

 Savannah Durban
The Wilbert Group

Marcus & Millichap Arranges $1.7 Million sale of 14-Unit Lilac Park Apartments in Palm Beach Gardens, FL

Evan Richardson
PALM BEACH GARDENS, 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 Lilac Park Apartments, a 14-unit apartment property located in Palm Beach Gardens, Florida. The asset sold for $1,700,000 equating to $121,429 per unit.

            “Lilac Park Apartments offered an investor the opportunity to purchase a turn-key, stabilized and upgraded multi-family property in an affluent submarket of Palm Beach County,” says Evan Richardson, associate in Marcus & Millichap’s Fort Lauderdale office.  

“The property was purchased by an investor in a 1031 exchange from New York looking to acquire additional property in South Florida.”

Richardson, along with Daniel J. Cunningham and Derek R. Gibbs, first vice president investments in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor from Hobe Sound, Florida. The buyer was a limited liability company from New York City.

Built in 1963, Lilac Park Apartments consists of seven duplexes situated on 1.68 total acres. The 14 units all have two-bedrooms and one-bathroom. Lilac Park Apartments is located between Northlake Boulevard and PGA Boulevard at 10034 Plant Drive in Palm Beach Gardens

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

Ryan Nee
Vice President / Regional Manager, 
Fort Lauderdale, FL
(954) 245-3400