Monday, October 10, 2016

BOMA of Miami-Dade Hosts Symposium and Trade Expo Oct. 21; Navy Seal Robert J. O’Neill Key Speaker

Robert J. O'Neill
MIAMI, FL -- The Building Owners and Managers Association (BOMA) of Miami-Dade is hosting the BOMA MIAMI Symposium Friday, October 21, 2016. 

The full day program and trade expo will focus on the future of property management in commercial real estate.

The symposium, a power-packed one day event open to the public, will be held at Miami’s Jungle Island. All-inclusive registration fees begin at $88 with promo code BOMANOW (through October 14th.)

The event’s keynote speaker is Navy Seal Robert J. O’Neill who is best known for having fired the shots that killed Osama bin Laden during the raid on his Abbottabad compound on May 2, 2011.  O’Neill is an expert in the importance of building and leading a successful team. 

The event will showcase innovative and emerging trends in commercial real estate management and will provide a roadmap for the next generation of property managers. The symposium sessions include:

Osama bin Laden
·         The Department of Energy (flown from Washington DC) presenting on the Green Building Challenge.

·         The Regional FBI Headquarters presenting on commercial building security, cybersecurity; and also emails (what is legal and what a business user should be careful with).

·         The final session will feature O’Neill. His 45 minute motivational speech is titled “Never Quit”

The sessions are followed by the opening of the Exposition featuring:

·         National vendors that are bringing new-to-market products for commercial office buildings.

·         Local vendors that are featuring the latest products in an interactive format. You’ll be able to experience product demonstrations.

·         10 minute, fast paced “Learning Labs” featuring a presentation on center stage taking place throughout the duration of the Exposition.

For program information including registration for the event sponsored by Genea click here.

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

Maria Gomez
Executive Director BOMA Miami-Dade

TEL: 305-200-8721

Hanley Investment Group Negotiates Sale of Multi-Tenant Retail Pad in Hesperia, CA

Tuscany Plaza, Greenwood Village, Denver, CO

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 represented the buyer and seller in the off-market sale of a 13,940-square-foot multi-tenant retail pad, shadow-anchored by a new Walmart Supercenter at 13325 Main Street in Hesperia, Calif.

Eric Wohl
The sale price was $8.5 million, yielding a cap rate of 5.33 percent. The transaction represents a record-low cap rate for a fully-leased multi-tenant retail pad over 10,000 square feet in the Inland Empire since 2008, according to CoStar.

Hanley Investment Group Executive Vice President Eric Wohl represented the seller, Pacific Development Group of Newport Beach, Calif.  Hanley’s Senior Vice President Patrick Kent represented the buyer, SHA Enterprises, Inc. of Irvine, Calif. 

The retail property is located in San Bernardino County at the Hesperia Marketplace Shopping Center at the hard-corner signalized intersection of Main Street and Escondido Avenue in Hesperia, near the Interstate 15 freeway.

Built in 2015, the multi-tenant building is occupied by national and regional tenants including Pieology Pizzeria, The Habit Burger Grill, Firehouse Subs, Yogurtland, Great Clips, Nutrishop and Metro PCS. The Walmart Supercenter-anchored shopping center also includes a 10,000-square-foot Petco.

“Utilizing Hanley Investment Group’s weekly strategy meeting, we leveraged our long-standing relationship with Pacific Development Group to connect a motivated 1031 exchange buyer with an off-market listing to fulfill the requirement,” said Wohl. “We were also able to facilitate a new corporate lease with Daniel’s Jewelers prior to closing to bring the property to 100 percent occupancy.”

Patrick Kent
According to Kent, “The buyer closed escrow in 45 days without requiring a financing contingency.” 

Kent also said that having Walmart and Petco as anchors, the hard-corner, signalized intersection location, proximity to the I-15 freeway, and that 91 percent of the building’s space was occupied by credit tenants were all factors that made this property very appealing to the buyer.

Wohl recently completed the sale of a similar Walmart shadow-anchored asset in Ontario, Calif., on behalf of Pacific Development Group. The multi-tenant retail pad sale in Ontario achieved a record-low cap rate and the highest price per square foot for a multi-tenant pad building shadow-anchored by Walmart in California, according to CoStar.

“This is the second property that Hanley Investment Group has sold for us within a 30-day period,” said Bob Lewis, partner at Pacific Development Group who handled the sale for the firm. “We were not motivated to sell the property; however, based upon the value they assured us they could achieve, the strength of the buyer that they represented and the success we have had with Hanley Investments in selling our properties, we decided to move forward with the transaction.”

“Multi-tenant outparcels to big box retail is a product type that is in very high demand,” said Wohl. “This type of retail asset is a relatively low-risk option for investors due to the high-exposure location, diversity of corporate and regional tenants, and a strong traffic-driving anchor like Walmart. Additionally, investors can typically spread out their risk over multiple tenants versus single-tenant assets.”

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

Anne Monaghan                                           Eric Wohl / Pat Kent
Monaghan Communications                         Hanley Investment Group
830.997.0963                                                949.585.7673 / 949.585.7672

HFF arranges $30.6 million in financing for Tuscany Plaza in suburban Denver, CO

Tuscany Plaza, Greenwood Village, Denver, CO

Jim Curtin
DENVER, CO, Oct. 10, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $30.6 million in financing for Tuscany Plaza, a 260,000-square-foot, Class A office asset in the southeastern Denver suburb of Greenwood Village.

HFF worked on behalf of the borrower, Crescent Real Estate LLC, to secure the seven-year, 3.45 percent, fixed-rate loan through a correspondent life insurance company.

Tuscany Plaza is located at 6312 South Fiddlers Green Circle adjacent to the Arapahoe at Village Center light rail station at the northwest confluence of Arapahoe and Interstate 25 in Greenwood Village.

  The 90-percent-leased trophy office building features a courtyard with outdoor art and walking trails, and structured parking.  Notable tenants include Red Robin and Xanterra Parks and Resorts.

The HFF debt placement team representing the borrower was led by director Jim Curtin and senior managing director Eric Tupler.

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 |