Tuesday, February 21, 2017

Phillips Edison Sells Five Shopping Centers Totaling 583,000 SF

Eric Wohl
CORONA DEL MAR, CA – Hanley Investment Group, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that in separate transactions Hanley Investment Group's Executive Vice President Eric Wohl served as advisor in bringing the buyer and seller together in the sale of five shopping centers owned by Cincinnati, Ohio-based firm Phillips Edison & Company, one of the nation’s largest owners and managers of grocery-anchored shopping centers.

The buyer was Albanese Cormier Holdings, a commercial real estate investment company based in Beaumont, Texas. The retail properties, which were located in either secondary or tertiary markets, totaled 583,337 square feet.

The properties that traded were Quincy Plaza in Ottumwa, Iowa; Kokomo Plaza in Kokomo, Indiana; Catawba Village in Newton, North Carolina; Lakeside Shopping Center in Anderson, South Carolina; and Louisa Plaza in Louisa, Kentucky.

“Significant demand and competition in core markets continue to compress yields. Investors seeking higher return are looking to non-major markets to meet their investment objectives,” Wohl said.

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. For more information, visit www.hanleyinvestment.com.

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

Anne Monaghan

Thought-Leader Manny Gonzalez of KTGY to Speak on Housing Trends of Today and Beyond

Manny Gonzalez
LOS ANGELES, CA - International award-winning KTGY Architecture + Planning announced today that Manny Gonzalez, FAIA, LEED AP, managing principal of the firm’s Los Angeles office, will serve as keynote speaker for a live webcast scheduled to air on February 22, 2017, at 3:00 p.m. ET on MultifamilyBiz.com, the largest media platform in the multifamily housing industry. 

Gonzalez is the managing principal for KTGY’s Los Angeles office

Registration for the webcast is available at MultifamilyBiz.com.

2020 Vision: Housing Trends of Today and Beyond will delve into an array of topics, such as home automation, urban living, walkable communities, and how millennial’s are driving technology into the housing mix.

 This fast-paced 60-minute digital media webcast will focus on what multifamily housing professionals need to know about the next generation of design trends emerging in the market.

Ernest F. Oriente
Joining Gonzalez, are property management expert Ernest F. Oriente of PowerHour, and multifamily technology innovator Kerry W. Kirby, CEO of 365 Connect, who are the hosts of the MultifamilyBiz.com + PowerHour Digital Media Webcast Conference Series. 

With a combined experience of almost 50 years in the multifamily housing industry, Oriente and Kirby deliver comprehensive, educational, and leading-edge programming.

Kirby stated, “We are excited to have Manny join us and present his insights on where housing is trending to our global audience. As a leader in our industry, Manny always delivers current, captivating, and relevant information that is affecting the way multifamily communities are being developed in today’s ever-changing market.”

Gonzalez reports that the KB Home ProjeKt at last year’s GreenBuild Conference demonstrated some of the features of the future, including a green wall, drone landing pad, and refrigerated package delivery storage. It also showcased a very simple “low tech” feature of a wall that moved to allow a secondary bedroom to become an office or disappear altogether and expand the great room into an even larger entertainment space. 

Remember the Betamax and Window’s Vista? Not all technologies are improvements and developers need to avoid building properties that are outdated before they stabilize, said Gonzalez. “I can remember when builders thought they were on the cutting edge of technology incorporating iPod docking stations into new construction. 

"It wasn’t even a year later that Apple introduced a newer version of the iPod and it didn’t fit anymore. In fact, none of the following generation did either. Wi-Fi and Bluetooth have allowed us more freedom with technology so we are less likely to build something that is dated just after its completed,” Gonzalez stated.

Kerry w. kirby
Uber and Lyft are now mainstream travel options and the autonomous car is just around the corner, Gonzalez reports. 

What is the future of auto storage in housing? In 2015 the 16 to 34 age group only purchased 3.5 cars per 100 individuals compared to more than 6.5 for each of the 35 to 49 and 50 to 54 groups. 

“Parking requirements in new urban developments have been dramatically reduced,” said Gonzalez. “It’s not unrealistic to think that new homes in 10 years won’t have a garage. Residents will use their app that delivers the driverless car service to their front door.”

Millennials have been the focus of apartment builders the last half dozen years, but are age-qualified properties the next big thing? With 10,000 people a day turning 65 until 2030, the boomers are a huge demographic. “Affordable senior apartments have always leased well, but today more luxury versions are coming online and leasing very well,” explained Gonzalez. “In some cases, it’s residents just wanting to downsize and not carry another mortgage and, in others, it’s a second home near the grandkids. As the millennials start buying homes and getting out of the rental market, the 55+ population segment is just beginning to get into it.”

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

Anne Monaghan

Call 888.456.KTGY or visit www.ktgy.com.