Saturday, August 19, 2017

Walkability, Freeway Expansion in Phoenix, AZ Spurs Sale of Foothills Corp. Centre II; JLL completes $18.40 million Class A building sale


Foothills Corporate Center II, Phoenix, AZ


Brian Ackerman
PHOENIX, AZ – Proving the power of amenities like walkability and freeway access – including a location near the future Loop 202/South Mountain Freeway expansion – the Phoenix office of JLL has completed the $18.40 million sale of Foothills Corporate Centre II, an approximately 145,000-square-foot office building located along I-10 in the heart of Awhatukee, in Phoenix, Arizona.

JLL Senior Vice Presidents Brian Ackerman and Dan Postal represented the property seller, Fort Properties Management, Inc. The buyer was a joint venture between a leading institutional investor and Everest Holdings. JLL Managing Directors Dave Seeger, Mark Gustin and Karsten Peterson retain the property leasing assignment.

“Convenience and walkability are two of the most important features sought after by today’s modern office tenants, and Foothills Corporate Centre offers both,” said Ackerman. “The property is within easy walking distance to Ahwatukee Foothills Town Center and Foothills Park Place Shopping Center. It also sits directly alongside I-10, and is just north of the future South Mountain Freeway.”

The South Mountain Freeway is a 22-mile extension of the Loop 202 Freeway, running from the southwest Valley at I-10 and 59th Avenue to Pecos Road at the intersection of I-10 and the Loop 202, in the southeast Valley. Construction began in fall 2016 and is slated for completion by late 2019.


Dan Postal
We are excited about this project, as it uniquely caters to tenants who desire well-located, institutional-quality office space with tremendous access to amenities and a strong labor base,” said Everest Holdings Vice President of Acquisitions Michael Gusich.

Foothills Corporate Centre II is located at 14601 – 14605 South 50th Street, between Ray Road and Chandler Boulevard in Phoenix. The property is 72 percent leased to three tenants: Level 3, DirecTV and ExhibitOne.

For more news, videos and research resources on JLL, please visit www.jll.com


For more information on this news release, please contact:

Stacey Hershauer
  Phone:
 +1 480 600 0195
  Email:


Buddy Brew Coffee to Open New Retail Location in Downtown Tampa’s Park Tower



Buddy Brew Coffee Owners Dave and Susan Ward

Tampa, FL -- Tampa’s cherished specialty coffee roaster, Buddy Brew Coffee with the passion to Brew Good and Do Good, announced today that they will open a new coffee shop location in downtown Tampa’s Park Tower. 
  
“We are excited to be opening a location in the heart of downtown Tampa and thrilled to be part of the beautiful renovation plan for Park Tower,” said co-owner and CEO of Buddy Brew Coffee, Dave Ward.

Park Tower, Downtown Tampa, FL
"We are thrilled about City Office REIT and Feldman Equities’ plan to make the building come alive by creating a beautiful space for building community and connection in our urban center.

“These plans perfectly align with our Buddy Brew mission - to share joy and inspire hope that transforms our community.  The new Park Tower will do exactly that. 

"As a homegrown Tampa brand, we are ecstatic by this opportunity to share this mission with our downtown Tampa community.  We love everything about this location and partnership,”

Buddy Brew Coffee, specialty coffee craft roaster, was founded by Dave and Susan Ward in 2010 with their first roastery and coffee bar in the heart of Tampa, Florida. 

Since then, they have rapidly expanded with four additional locations: a Coffee Bar at Oxford Exchange, Buddy Brew in Sarasota, Buddy Brew Hyde Park Village and Buddy Brew Coffee in Terminal F of the Tampa International Airport.  The newest location in Park Tower will mark Buddy Brew’s 6th coffee bar.


For more information on this news release, please contact:

Tess Hipp | Buddy Brew Coffee
T: (813) 258-2739

Marcus & Millichap Brokers $5.6 Million Sale of Small Miami Beach, FL Office Building


Benjamin H. Silver

MIAMI BEACH, 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 820 Arthur Godfrey, a 20,915-square foot office property located in Miami Beach, FL, according to Ryan Nee, vice president/regional manager of the firm’s Fort Lauderdale office. The asset sold for $5,600,000.

“The Property represents a best in class office building within the Arthur Godfrey corridor, an infill market which has seen very low turnover and no new office delivery within the last 20 years. This unique modernized office space should command a premium in the market as the new owner fills up the vacant space,” states Benjamin H. Silver, First Vice President of Investments, in Marcus & Millichap’s Fort Lauderdale office.

Silver and Douglas K. Mandel, Senior Managing Director, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, and procured the buyer, a private investor out of California.

“The buyer’s plan to convert the building into a modern shared workspace environment will help revitalize a more mature market and bring new energy to the area,” adds Mandel

820 Arthur Godfrey is located at 820 Arthur Godfrey Road in Miami Beach.  The property features a new fa├žade with floor-to-ceiling impact glass, a modernized lobby with private parking garage on the ground floor and three full floors of state-of-the-art office space above, with modernized interior finishes.

Situated in the heart of the Miami Beach commercial submarket, the property’s premier position provides excellent visibility and heavy vehicle and pedestrian traffic along Arthur Godfrey Road.


For more information on this news release, please contact:

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


Redline Property Partners Acquires 2 Sun Court, Peachtree Corners, GA



Andrew Webb
Atlanta, GA -- Redline Property Partners, the real estate investment and management firm, announced it has purchased 2 Sun Court, one of the area’s best-located office properties in Atlanta’sfamed Peachtree Corners submarket.

The purchase represents Redline’s first investment in Atlanta.As part of the purchase, Redline has committed to immediately completing significant capitalimprovements and adding building amenities. 

Additionally, Redline intends to re-brand the property and implement its tailored “concierge style” management platform in order to better serve the needs of the building’s occupants.

”We are excited to invest in a market that continues to benefit from employment growth and long-term opportunities created by the expanding economy,” said Andrew Webb, Redline’s President. “This transaction signifies our continuing commitment to investing in Atlanta and the Southeast U.S. markets.”

“Redline’s trademark hands-on approach enables us to provide tenants with immediate, positive changes, ” said Webb. “This asset’s value-enhancement potential is an excellent fit with our strategic investment platform.”

Matt Davis
 Sun Court is strategically located in the heart of the coveted Peachtree Corners office submarket. 

With a number of nearby retail amenities and direct access to major transportation arteries, the building maintains superior accessibility and visibility. Its central location allows companies to access multiple talent pools in order to attract and retain employees from all areas  of the metro.

The building includes a 5-story tower, abundant parking and excess land, whichRedline intends to develop as additional amenity space.

To deliver the best service possible, Redline has partnered with Grover Corlew for the property management and has enlisted the services of Matt Davis and Matt Fergus with Lincoln Property Company for leasing the remaining vacant space.

For more information on this release, please contact:

Andrew Webb
Redline Property Partners, LP
2970 Peachtree Road NW, Suite 805
Atlanta, GA 30305, USA
Tel:    +1 651 398 2662
Main: (651) 398-2662
info@RedlinePropertyPartners.com

Friday, August 18, 2017

Celebrity Chef Expands Bakery in Moorpark, CA


 
Chef Damiano Carrara
 Moorpark, CA – DAUM Commercial Real Estate Services has directed a 10-year lease on behalf of TV Celebrity Chef Damiano Carrara and Massimiliano Carrara. The brothers are expanding their bakery, Carrara Pastries, into a new, larger location in Moorpark, California’s Tuscany Square retail center.

The bakery, which will encompass 5,000 square feet in a former Fresh & Easy location, offers authentic Italian delicacies including pastries, cakes, coffees, house-made gelato, and wine, as well as breakfast, lunch, and dinner food offerings.

“Carrara Pastries is a true destination in Southern California, attracting guests from all over the region to enjoy Chef-driven, authentic Italian offerings,” says Bram White, an Executive Vice President in DAUM’s Ventura County office, who represented Carrara Pastries as the lessee in the transaction.  “Chef Carrara was seeking a location with strong visibility, active ownership, and increased parking, and we identified Tuscany Square as the right fit.”

Bram White

Damiano Carrara gained a local following in Moorpark and opened Carrara Pastries with brother Massimiliano in 2012, before appearing as a contestant and judge on several Food Network shows, including Spring Baking Championship, Guy’s Grocery Games, and Food Network Star. 

 “By relocating to Tuscany Square, we will be able to further our vision to share a customary taste of our home and culture with our neighbors in Moorpark,” Carrara says. “Moorpark is where we got our start, and our connection to the community has helped to drive our success.  Thanks to this local support, we are growing rapidly, and we expect to open new Southern California locations in the near future.”

The owner of Tuscany Square, Milan Capital Management, Inc., was represented by Lisa Engel-Shields of Radius Group/Hagelis Retail Advisors in the lease transaction.

“This is an ‘out-of-the-box’ lease and a perfect example of how landlords are getting creative in the changing retail climate,” says Engel-Shields. “We see this as a fantastic opportunity to help Carrara Pastries grow and flourish in its hometown of Moorpark.”

Chris Nichelson, President of Milan Capital Management, says: “Our team recognized the value in this lease from the start. With an offering that is as much an experience as it is food, Carrara Bakery is loved in the Moorpark community, and people travel for miles for a taste of their unique offerings. This new addition will strengthen the existing tenant mix and drive new foot traffic to our center.” 

Lisa Engel Shields
 Nichelson further notes that Milan Capital Management is proud to be a part of Chef Carrara’s evolving success as a rising star in the pastry world.

“We hope that the addition of this tenant helps us to attract other experience-based, artisanal retailers, who can bring something truly unique to the Moorpark marketplace,” he continues.

Carrara Pastries expects to complete its move to the new location at 144 West Los Angeles Avenue in January of 2018. The bakery will be relocating from its current location at 476 West Los Angeles Avenue. 

Carrara Pastries has a second location at 28914 Roadside Drive in Agoura Hills, CA.

For more information, please contact:

Elisabeth Manville / Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Lincoln Property Company Negotiates Three New Leases at DeBary’s Benson Junction CommerCenter in DeBary, FL for 7,140 SF

 
Sean DuPree
 DEBARY, FL and ORLANDO, FL – Lincoln Property Company Southeast, a full service commercial real estate firm based in Orlando, completed three new long-term lease agreements for  more than 7,140 rentable square feet at the Benson Junction CommerCenter at the intersection of Benson Junction and Shell Roads west of Hwy. 17-92  in DeBary.

Sean DuPree, Broker at Lincoln Property, negotiated the transactions on behalf of the Orlando-based landlord Benson Junction CommerCenter, LLC. 

Aqua Dip Graphix, a custom detailer and high-end painter for boats, autos, motorcycles and accessories, leased Unit C-6 with 2,100 square feet at 475 S. Shell Rd.;

Blue Moon Services, LLC, d/b/a Control Freak Suspensions providing custom suspensions for muscle cars, leased Unit B-5 with 2,800 square feet at 485 S. Shell Rd.


Direct Millwork & Furnishings, Inc., a custom furniture and cabinets firm, leased Unit A-5 with 2,240 square feet at 495 S. Shell Rd.

For more information, please  contact:

Sean DuPree, CCIM, Director of Sales/Leasing, Lincoln Property Company 407-872-3500 sdupree@lpc.com

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. Lvershelco@aol.com 407-644-4142



Hold-Thyssen Negotiates New Leases with Integrity Golf and Your Title Connection at Phillips Place in Southwest Orlando, FL


Darby Hold

ORLANDO, FL  --- Hold-Thyssen, a full service real estate services firm headquartered in Winter Park, recently negotiated two new lease agreements at Phillips Place, 7575 Dr. Phillips Blvd., in southwest Orlando. 

Darby Hold, transaction specialist for Hold-Thyssen, Inc., who represented the landlord, Cincinnati, Ohio-based Financial Way Realty, Inc., said Integrity Golf, LLC leased Suite 210 with 1,819 rentable square feet.

  Karen McChesney of Suzi Karr Realty represented the tenant, Integrity Golf  who owns and operates private clubs, municipal courses and golf resort properties throughout the U.S. and internationally. 


Karen McChesney

Hold also negotiated a new lease with Your Title Connection, LLC a full service title agency with locations throughout Florida.  The 12-year old title company leased 997 square feet of office space beginning Sept. 1.   David Rosaler with The Office Space Guy represented the Tenant.                                    

At the same time Hold brokered a lease renewal for American Concept & Design in Suites 300 and 305 with 1,641 square feet at Phillips Place.

Hold-Thyssen, Inc., the leasing and management representative for the 56,000 square foot Phillips Place, provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current management portfolio includes more that 100 commercial properties throughout the United States.

For more information about this press release, please contact

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com




Wednesday, August 16, 2017

NAI Realvest Negotiates New 5,000-SF Lease of Industrial Space in Sanford, FL


Allison Reynolds

Sanford, FL --- NAI Realvest recently negotiated a new lease agreement for 5,000 square feet of industrial space at 230 Power Court in Sanford. 

Allison Reynolds, vice president at NAI Realvest, negotiated the transaction representing the landlord Jesse Maxwell, III of Maitland.    

The new tenant is Storm Solutions of Central Florida a manufacturer and supplier of seamless gutters, soffit and facia. 

For more information about this release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 lvershelco@aol.com

Allison Reynolds, Vice President, NAI Realvest, 407-875-9989, areynolds@realvest.com

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com


Pulte Homes Plans Grand Opening Sept. 16 at Oviedo Park Terrace in Oviedo, FL With Luxury 3-Story Townhomes



Tristan Knop


OVIEDO, FL – Pulte Homes is now pre-selling three-story luxury townhomes at Oviedo Park Terrace, located at Oviedo Boulevard and Piazza Point. A grand opening for the 51-unit community is slated for Sept. 16.

The two, three and four-bedroom townhomes are available in four floor plans: The Rivington, The Hayward, The Briarcliff and The Avondale, according to Tristan Knop, marketing manager for Pulte’s North Florida Division.

Oviedo Park Terrace Townhomes, Oviedo, FL
“We’re excited to offer this unique opportunity to buy a townhome nestled in the heart of Oviedo,” Knop said. “And with its flexible space and open concepts, Oviedo Park Terrace will have homes suitable for families of all sizes.”

Square footage will range from 2,100 to 2,196 with optional bedrooms, dual suites and from between 2½ to 4½ baths. Pre-construction prices start at $288,990.

Less than one mile from State Road 434 and two miles from State Road 417, the intimate neighborhood will feature its own pool and cabana, with easy access to Center Lake Park, located across the street, which includes a playground, splash pad, dog park, lakeside promenade, amphitheater, paddleboard rental, and more.

For more information about the community, call 866-219-7658 or visit Pulte.com/OviedoParkTerrace.

For more information about this release, please contact:

Tristan Knop, Marketing, PulteGroup / North Florida Division, 407-661-1409 Tristan.Knop@PulteGroup.com


Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 lvershelco@aol.com

Meritage Homes Closes on 200 Acres in Orlando to Develop New 700-Home Community



ORLANDO, FL — Meritage Homes Corporation (NYSE: MTH), a leading U.S. homebuilder, announced plans to develop more than 200 acres in the Winter Park submarket of Orlando.

The new Meritage community, which will be named Hawk’s Crest, is located along Lake Howell off of Red Bug Lake Rd. and  E. Semoran Blvd.  Hawk’s Crest will include more than 700 lots for 250 townhomes and 458 single-family homes. 

 Lake access is among the gated community’s on-site amenities along with running and walking trails, resort-style pools and a community clubhouse.

Brian Kittle
“Hawk’s Crest caters to those looking for a health and wellness lifestyle with open outdoor spaces, lakefront views and resort-style amenities,” said Brian Kittle, Orlando division president of Meritage Homes. “We are excited to bring a much-needed supply of beautiful new homes to the market, and make Hawk’s Crest a long-awaited reality.”

Hawk’s Crest will offer four product lines ranging from approximately 1,600 to 5,200 square feet of living area. The new homes with from three to six bedrooms are expected to be priced from $260,000 to $635,000.

The homebuilder’s signature energy efficiency and home automation packages are standard features in every home. 

Meritage is consistently recognized as the industry leader in technologically advanced homebuilding, and is the first Central Florida builder to offer solar panels as an upgrade in all of its communities.  

By building healthier, cleaner, more efficient homes, Meritage helps deliver short- and long-term energy cost savings to its homeowners without compromising design.

Hawk’s Crest is one of 21 Meritage communities in the Orlando area. It will be built in phases and is expected to open for sales in late 2018 with the first closings projected for early 2019.


For more information, please contact:

  Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

   

NAI Realvest Negotiates $950,000 Sale of International Drive Site in Orlando, FL

 
Paul P. Partyka
ORLANDO, Fla.  – NAI Realvest recently negotiated the sale of a 9.07-acre parcel of vacant land on S. International Drive in Orlando for $950,000.00.

NAI Realvest Partner Paul P. Partyka, CCIM, MICP represented the seller, Southeastern Conference Association of Seventh Day Adventists, Inc. who sold the property to fund construction of new larger church in an Orlando location that’s to be determined.   .   

The buyer of the property, Alessandro Da Silva Oliveria of Windermere, Fla. was represented by Marcelo Cruz of Selecta Realty.  

For more information, please contact:

  Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com
   

NAI Realvest Represents Belhaven University in New Office Lease in Downtown Orlando



 
Andrew 'Andy' McCaw
ORLANDO, FL -- NAI Realvest recently negotiated a new lease representing Belhaven University for office space at 801 N. Magnolia Ave. in downtown Orlando.

Andrew “Andy” McCaw, vice president of tenant representation at NAI Realvest negotiated the transaction on behalf of the tenant who leased the 1,106 office suite to establish a convenient centralized location for all marketing, student recruitment and on-line programs. This new location replaces the office classroom space it occupied at  its Vineland Road campus. 

The landlord of the 52,748 square foot building built in 1984 is Chugin (USA) Inc. represented by Brian Grandstaff and Brittany Morrison of Millenia Partners V, LLC.  

Belhaven University, based in Jackson, MS,  serves 5,000 students, and stands among select Christian colleges and universities with national influence, being repeatedly named one of “America’s 100 Best College Buys."

The University offers 70 areas of undergraduate study as well as a variety of Master Degree programs and Doctoral Degrees in education.

For more information, please contact:

  Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

   

Hold-Thyssen Negotiates Long-Term Restaurant Lease in New Port Richey, FL

       
Carol Kinnard


New Port Richey, Fla. --- Hold-Thyssen, LLC, a full service commercial real estate services firm with offices in Clearwater, recently negotiated a long-term lease of 1,560 square feet of retail/restaurant space at 7202 Massachusetts Ave. in New Port Richey.

Leasing Associates Carol Kinnard and Theresa Margaris located the tenant and negotiated the transaction on behalf of the owners/landlords, John H. and Christina Pimenidis / Kostas A. and Pauline Magganas. 

The new tenant SLCA Ventures Incorporated d/b/a Scotty’s Pizzeria, has been in operation in Pasco County for over 10 years and the Massachusetts Ave. restaurant is a new location for their business expansion. 



Theresa Margaris

While initial discussions with the tenant began a year ago, the transaction took less than one month from Letter of Intent to lease execution, according to Kinnard and Margaris.

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than100 commercial properties throughout the United States.

For more information, please contact:

 Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, Inc., 813-880-7100 ext303 Rfisher@HoldThyssen.com

Robert P. Hold, Principal, Hold-Thyssen, Inc., 407-691-0505, bhold@HoldThyssen.com


 Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

   

Tuesday, August 15, 2017

ALDI Tops Trader Joe’s and Whole Foods in New Home Flipping and Rental Returns Analysis



IRVINE, CA -- A new ATTOM Data analysis shows that prospective homebuyers are better off buying near a Trader Joe’s than a Whole Foods or an ALDI — although homes near Whole Foods have seen home price appreciation more closely on par with those near Trader Joe’s possibly thanks to the Amazon acquisition of the high-end grocery chain.

But for real estate investors looking for the best home flipping or rental returns, targeting neighborhoods around the discount German-owned grocer ALDI is the best strategy, according to the analysis.

Here are the details:

·         Homeowners near a Trader Joe’s have seen an average 5-year home price appreciation of 67 percent, compared to 52 percent appreciation for homeowners near a Whole Foods and 51 percent near an ALDI.

Add caption
o   Average appreciation for all zip codes with these grocery stores nationwide is 54 percent.

 ·         Homeowners near a Trader Joe’s also have added equity, owning an average 36 percent equity in their homes ($232,439), while homeowners near Whole Foods had an average of 31 percent equity ($187,925) and homeowners near ALDI had average 18 percent equity ($46,352).

o   The average equity for all zip codes with these grocery stores nationwide is 24 percent.

·         Flip the tables and properties near an ALDI are an investor’s golden goose with an average gross flipping ROI of 69 percent, compared to properties near a Whole Foods which had an average gross flipping ROI of 41 percent and Trader Joe’s at 36 percent.


o   The average gross flipping ROI for all zip codes with these grocery stores nationwide is 57 percent.

·         Not to mention properties near an ALDI had an average gross rental yield of 10 percent, compared to properties near a Whole Foods with an average gross rental yield of 6 percent and Trader Joe’s at 5 percent.

·     The average flipping ROI for all zip codes with these grocery stores nationwide is 8 percent.

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


National Retail Properties Declares Dividends for its 5.70% Series E Preferred and 5.20% Series F Preferred Stocks



Kevin Habicht

Orlando, FL, Aug. 15, 2017 - The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable September 15, 2017, to shareholders of record on August 31, 2017.

The Board also declared a cash dividend on its 5.20% Series F Cumulative Redeemable Preferred Stock of 32.5 cents per depositary share payable September 15, 2017, to shareholders of record on August 31, 2017.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.   As of June 30, 2017, the company owned 2,675 properties in 48 states with a gross leasable area of approximately 28.1 million square feet with a weighted average remaining lease term of 11.5 years.


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

Kevin B. Habicht
Chief Financial Officer
(407) 265-7348

.

The Dow Hotel Company Completes $10 Million Renovation of Embassy Suites by Hilton Hotel Chicago O’Hare Airport - Rosemont


  
Murray L. Dow II


  
CHICAGO, IL and SEATTLE, WA —Officials of The Dow Hotel Company (DHC), a leading national hotel owner/investor and operator, announced the completion of the $10 million renovation of the Embassy Suites by Hilton Chicago O’Hare Airport – Rosemont. 

The renovation focused on all aspects of the hotel, including guest rooms, public spaces and back-of-house areas.

“With the conclusion of this top-to-bottom renovation, the hotel has achieved ‘like-new’ status, making it competitive with any product on the market,” said Murray L. Dow II, founder and president, DHC.

 “In the last 19 years, DHC has overseen 20 renovations of similar scope.  The property is positioned to provide experiential travel to upscale business and leisure guests who want something more than the ‘typical’ big-box stay.”

 Embassy Suites by Hilton Chicago O’Hare Airport – Rosemont. 

The renovation enhanced virtually all aspects of the hotel.  Guest rooms received fresh soft goods, upholstered furniture and artwork.  All guest baths gained new tiling, while some were converted to stand-up showers.

 Public spaces were completely redone, including alterations to the atrium, pool, fitness center, lobby, elevators and employee locker rooms.  The business center was upgraded to Embassy Suites by Hilton’s Connectivity Zone with modern furniture. 

The two executive boardrooms received new tables, wood work, refrigerators and televisions.  Exterior hotel improvements range from building enhancements to completely redone landscaping.

“The Embassy Suites by Hilton Chicago O’Hare Airport – Rosemont has 18,000 square feet of flexible meeting and event space, including a 5,100-square-foot ballroom that can accommodate up to 350 guests,” Dow added.  “This gives it some of the largest combined meeting space of any Embassy Suites product in the Midwest.”

Allstate Arena, Chicago, IL

Located across from the Donald E. Stephens Convention and Conference Center, the eight-story hotel is a five-minute drive from Chicago O’Hare International Airport and fifteen minutes from downtown Chicago.  

Guests can enjoy nearby MB Financial Park at Rosemont, a new entertainment complex featuring many restaurants, bowling, a movie theater, a seasonal outdoor ice rink and much more. Additional local attractions include the Allstate Arena, which is home of the Chicago Wolves hockey team, the Rosemont Theater and Rivers Casino.

Hotel amenities include twenty-two conference rooms with connecting suites, a seven-story garden atrium, fully-equipped fitness center, indoor pool and complimentary shuttle service to and from O’Hare Airport.  Each of the hotel’s newly renovated, two-room suites features a private bedroom and a separate, well-equipped living room. The living area includes a full-sized sofa bed, work station and ergonomic chair.

In addition to the numerous dining options in the immediate area, guests and locals can enjoy delicious Italian and Mediterranean-inspired cuisine in a casual atmosphere for lunch and dinner in Basil’s Kitchen.  Guests also can enjoy a libation while watching flat screen televisions in Basil’s Bar. 
.
For a complete copy of the company’s news release, please contact:


PATRICK DALY
OFFICE MANAGER
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-300-8289

or

Chris Daly
Phone: (703) 435-6293
            






Stepp Commercial Completes $4.9 Million Sale of 20-Unit Apartment Property in Long Beach, CA



 
Robert Stepp
Long Beach, CA, Aug 15, 2017 - Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $4.9 million sale of East Fifth Street Apartments, a 20-unit apartment property located near the Retro Row and Belmont Heights submarkets in Long Beach, Calif.

Principal Robert Stepp of Stepp Commercial represented the seller, an Orange County-based private investor, as well as the buyer, a private investor from Los Angeles. The property closed at a 4.2 percent cap rate and a price per unit of $245,000.

Built in 1961, the two-story property is located at 3025 East 5th Street and includes 10 two-bedroom units and 10 one-bedroom units. Some of the interiors feature hardwood flooring and upgraded kitchens with granite countertops and stainless steel appliances.

"By adding value to the units that have not already been updated, the buyer stands to secure a 25 percent rental upside," said Stepp. "Long Beach is a prime market to add value to apartment properties as it has no rent control, unlike to many other Los Angeles area cities."


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

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224


HFF announces sale of dual-branded downtown Austin, TX hotel

  
Hotel Indigo Austin Downtown,  Austin, TX


John Bourret
DALLAS, TX, Aug. 15, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the closing of the sale of the Hotel Indigo Austin Downtown – University and Holiday Inn Express Austin Downtown University, a 305-room, dual-branded hotel located in downtown Austin, Texas.

The HFF team marketed the property on behalf of the seller, Journeyman Group.  Nimes Real Estate purchased the property unencumbered of an existing management agreement.

Completed in 2016, the hotel comprises the 134-room, full-service Hotel Indigo Austin Downtown – University and the 171-room, select-service Holiday Inn Express Austin Downtown University.

 Shared amenities include a large outdoor pool, pool bar and lounge and five levels of underground parking.  The Hotel Indigo houses the Red River Tavern, 2,830 square feet of meeting space, with the Holiday Inn Express featuring a fitness center, business center, a 310-square-foot meeting room and complimentary breakfast. 

Austin Brooks


Situated on .81 acres at 805 Neches Street and 810 Red River Street, the hotel is in Austin’s Red River Cultural District at the corner of Red River and 9th Streets.  

The hotel is within five blocks of the University of Texas at Austin, Texas State Capital, medical district, Sixth Street entertainment district and the Austin Convention Center.

The HFF investment sales team representing the seller included managing director John Bourret and director Austin Brooks.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.


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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com




HFF announces sale of Three-property medical office portfolio in Dallas-Fort Worth and Austin, TX

  
 
Part of IRA Capital's Medical Office Portfolio in Dallas-Fort Worth and Austin, TX Areas

 
Evan Kovac
 SAN DIEGO, CA – Aug. 15, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a three-property, Class A medical office portfolio totaling 137,686 square feet in Dallas-Fort Worth and Austin, Texas.

The HFF team marketed the property on behalf of the seller, IRA Capital, LLC, and procured the buyer, a publicly traded healthcare REIT.

The portfolio comprises The Center for Cancer & Blood Disorders and Baylor Health Center at Magnolia Greens in Dallas-Fort Worth and Cedar Park Medical Center in Austin. 

The fully leased buildings boast a mix of best-in-class local, regional and national tenants backed by major health systems and top-rated healthcare providers such as Baylor Scott & White Health, Surgical Care Affiliates and The Center for Cancer & Blood Disorders. 

Services offered within the portfolio include cancer treatment, radiation oncology, medical oncology, cyberknife, orthopedic surgery, gastrointestinal endoscopy procedures, pain and spine treatments, primary care and family medicine.

The HFF investment sales team included managing director Evan Kovac, director Andrew Milne and senior associate Trent Jemmett along with managing director Todd Savage and senior director Kelsey Roop as the local advisors. 

Andrew Milne
Efforts were supported by HFF’s national medical office building team comprising managing director Phil Mahler, senior director Ben Appel, director Anthony Frogameni and analyst Wesley Hightower.  Senior managing director Kevin MacKenzie and senior director John Chun also supported the process with debt and equity placement guidance.

“The portfolio represented the rare opportunity to acquire institutional-quality core medical office buildings leased long-term to several of the most highly respected tenants in the industry,” Kovac said.  “The new owner has the ability to build a long-term relationship with these established tenants as they continue to expand their footprints within two of the nation’s top real estate markets.”

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com


Monday, August 14, 2017

HFF arranges $8.8 million refinancing for retail center in Colorado Springs, CO



Rampart Village Center, Colorado Springs, CO


DENVER, CO – Aug.14, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it arranged an $8.8 million refinancing for Rampart Village Center, a five-building retail center totaling 96,296 square feet in Colorado Springs, Colorado.

HFF worked on behalf of the borrower, Vintage Companies, to place the 10-year, fixed-rate loan with a CMBS lender.  The securitized loan will be used to refinance an existing, maturing loan.

Rampart Village Center is a 93.24-percent-leased, Gold’s Gym-anchored retail center in northern Colorado Springs.  Located at 7601-7689 North Union Boulevard, the center is easily accessible via Interstate 25, Highway 21 and Academy Boulevard.

Leon McBroom
 Rampart Village Center services the growing Briargate neighborhood, which has more than 100,000 residents earning an average annual household income of approximately $100,000 living within a three-mile radius of the center.

HFF’s debt placement team was led by director Leon McBroom. 

“The borrower was the original developer and has owned the property for more than 30 years,” McBroom said.  “This refinancing will allow the borrower to continue to own this well-performing retail asset within the Briargate community, which the borrower calls home.”

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

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com