Sunday, February 26, 2017

Hanley Investment Group Arranges Sale of 156,000 SF Mixed-Use Retail Center for $62 Million in Arcadia, CA


Ed Hanley
CORONA DEL MAR, CA – Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in investment property sales, announced the firm arranged the sale of Arcadia Gateway Center, a 156,046-square-foot, mixed-use commercial center comprised of retail, medical and office buildings in Arcadia, Calif.

The sale price was $62,081,611, representing a cap rate of 5.45 percent.

Hanley Investment Group President Ed Hanley, Executive Vice President Pat Kent, along with Senior Associate Corey Olson, represented the sellers, Arcadia Gateway Centre Delaware Partners, LLC and Post Exchange, LLC.

The buyer, JLJ (USA) Investment, LLC of City of Industry, Calif., was represented by Henry Hong, senior vice president with Lee & Associates in the City of Industry, Calif.

Built in 1988 on 7.90 acres, Arcadia Gateway Center is located at 300-450 East Huntington Drive, at the southwest corner of Huntington Drive and 5th Avenue in the city of Arcadia in Los Angeles County.

The five-building complex is situated just off the Huntington Drive exit of the 210 Freeway at the entrance to Arcadia and benefits from approximately 900+ feet of frontage along Huntington Drive, which is the main east-west commercial thoroughfare in the immediate trade area.

Pat Kent
“This is a prime, irreplaceable southern California location with strong historical tenants and 98 percent occupancy, situated near the heavily-trafficked 210 Freeway exit with 265,000+ cars per day,” said Hanley.

“Our team developed a best and final pricing strategy and, using our proprietary investor and broker database, we were able to generate seven qualified offers from primarily private investors very near the marketing price.”

According to Kent, the retail component, which is 91 percent leased, features a 43,578-square-foot single-story multi-tenant building and two freestanding restaurant pad buildings leased to BJ’s Restaurant and Brewhouse and Olive Garden.

The multi-tenant retail center includes Men’s Wearhouse, Leslie’s Pool Supplies, Scottrade, Starbucks and Togo’s. The property also features a 48,455-square-foot two-story medical office building which is 100 percent leased to HealthCarePartners with a corporate signature guaranteed by DaVita and nine plus years remaining on the lease term; and a 64,013-square-foot four-story multi-tenant office building, which is also 100 percent leased.

The office building’s second, third and fourth floors are fully leased to HealthCare Partners, Oracle America and Regus, respectively, and the ground floor is leased to a synergistic mix of medical and service-oriented tenants.
 
Arcadia Gateway Center, Arcadia, CA
“The property offered the buyer instant diversification with the total net-operating income allocated as approximately 32 percent from retail, 28 percent from medical and 34 percent from office,” said Kent.

According to Kent, with the exception of Regus and Oracle America, who signed 10-year lease agreements in 2016 and 2013 respectively, 90 percent of the current tenants have occupied space at the property for more than five years and 73 percent of the current tenants have occupied space at the property for more than 10 years. Approximately 75 percent of the existing tenancy is not scheduled to mature until 2019 or later.  

Arcadia Gateway Center is situated in a densely-populated and affluent area. There are more than 150,000 people within a three-mile radius of the property earning an average household income in excess of $95,000.

“The property also benefits from being well-located in this established office corridor with excellent daytime population,” said Kent. “There are currently one million square feet of existing office space (and 99% occupancy) within a two-block radius of Arcadia Gateway Center, which substantiates a high daytime population and demonstrates strong office and retail demand in the immediate area.”

Arcadia Gateway Center is also located immediately adjacent to the Metro Gold Line, which supplies light-rail service connections from Downtown Los Angeles, up north to Pasadena, and as far east as Montclair. The closest light-rail transit station is located within walking distance just two blocks northwest of the property.


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

Anne Monaghan
MONAGHAN COMMUNICATIONS, INC.
830.997.0963




HFF arranges $38.76 million financing for One and Two Premier Plaza in Atlanta, GA



One Premier Plaza, Atlanta, 5605 Glenridge Drive NE,
 Central Perimeter, Atlanta, GA

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $38.76 million in financing for One and Two Premier Plaza, a two-building, Class A office complex totaling 316,734 square feet in Atlanta, Georgia.

HFF worked on behalf of the borrower, Zeller Realty Group, to secure the floating-rate loan through New York Life Insurance Company with an initial term of three years plus two 12-month extension options.  Loan proceeds were used to acquire the property and provide funds for future leasing and capital improvement costs.
 
One and Two Premier Plaza is situated on a 7.54-acre site at 5605 and 5607 Glenridge Drive NE in Atlanta’s Central Perimeter.  This places the property within a half of a mile from the intersection of State Highway 400 and Interstate 285, providing connectivity to all of Metro Atlanta.

Ed Coco
 The 11-story One Premier Plaza and the seven-story Two Premier Plaza are 81.4 percent leased to a variety of national, regional and local tenants, including McGriff, Siebels & Williams, Mozley, Finlayson & Loggins, FirstPRO, JMG Realty, Peachtree Hotel Group and The Gap.

  Recently renovated, the office complex offers covered building access, structured parking, an exterior patio with barbeque grills, cafĂ©, conference facility and fitness center. 


The HFF debt placement team representing the borrower was led by senior managing director Ed Coco and senior real estate analyst Matt Casey.

“Zeller Realty Group is a best-in-class owner/operator in several office markets across the country, and with their acquisition of Premier Plaza, Zeller has now entered the Atlanta market with a well-located asset offering the combination of a diverse tenant base with income growth potential,” said Coco. 

“The financing offered by New York Life provided a structure that best aligned with Zeller’s strategy for this asset that has been well-executed with similar properties in other markets across the county, and we look forward to seeing the same success and growth in Atlanta going-forward.”

“We are extremely pleased to enter the Atlanta market with our acquisition of One & Two Premier Plaza,” said Paul M. Zeller, Chairman and CEO of Zeller Realty Group.  “Having studied it closely for several years, we know first-hand that Atlanta is a leading growth market with a diversified economy.  We look forward to additional investments in Atlanta, as Zeller Realty Group continues its growth nationwide.”

Two Premier Plaza, Atlanta, GA
 Zeller Realty Group (ZRG) is a vertically integrated commercial real estate investment and development firm that has offered investors exceptional expertise, innovation, and insight to value for over 28 years. 

ZRG strategically selects properties for value creation, repositioning and reintroduction to their markets, while maximizing efficiency by providing a full spectrum of real estate services, including development, leasing, management, and construction.  Headquartered in Chicago, Illinois, ZRG owns and operates assets in the Midwest, Colorado, Oregon, and Georgia and continues to grow and expand its holdings nationally. 

Since its formation, the company has delivered strong returns for its partners and co-investors by providing best-in-class service to enhance value.   Currently, ZRG owns and operates a portfolio of nearly 9 million square feet valued at $2.3 billion. 

For more information, please visit: www.zellerrealty.com.

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell 617.543.4873 | www.hfflp.com


HFF closes $227 million sale of and arranges $175 million in financing for Tysons Metro Center in Tysons, VA


 
Sue Carras
  
WASHINGTON, D.C. –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $227 million sale of and arranged $175 million in financing for Tysons Metro Center, a four-building, Class A office portfolio totaling 763,965 square feet in Tysons, Virginia.


Tysons Metro Center, Tysons, VA

HFF marketed the property on behalf of the seller, an affiliate of Beacon Capital Partners, and procured the buyer, Meridian Group.  Additionally, HFF worked on behalf of the new owner to secure the floating-rate acquisition loan through Starwood Property Trust, Inc. 

Jim Meisel
Tysons Metro Center is located at 8251-8285 Greensboro Drive, within walking distance of the Greensboro Metrorail Station, providing access to the entire Washington, D.C. metropolitan area.

 Nearby amenities include Tysons Galleria and Tysons Corner Center as well as the future mixed-use Boro development, featuring a flagship Whole Foods.  

The 91-percent-leased portfolio is anchored by Booz Allen Hamilton and Alarm.com.  The 10.03-acre site offers parking for more than 2,300 vehicles. 

The HFF investment sales team representing the seller was led by Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson.

 HFF’s debt placement team representing the borrower was led by Sue Carras, Cary Abod, Dan McIntyre and Rob Carey.

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell 617.543.4873 | www.hfflp.com


HFF closes sale of and arranges financing for Dallas-area apartment community


Josh Simon
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for The Villages of Addison, a 264-unit, garden-style community in Dallas, Texas.

HFF marketed the property on behalf of the seller, The Connor Group.  Advenir, Inc. purchased the offering for an undisclosed amount.  This asset is Advenir’s first acquisition funded by a $100 million revolving credit facility that HFF recently secured on its behalf.

The Villages of Addison is located at 17671 Addison Road just west of the Dallas North Tollway and less than two miles south of the President George Bush Turnpike interchange in Far North Dallas.

 Other nearby amenities include the Galleria Dallas, Addison Circle, Bent Tree Country Club and the University of Texas at Dallas campus.  The property is approximately 95 percent leased and offers a variety of one- and two-bedroom units ranging from 698 to 1,168 square feet. 

The community features a resort-style swimming pool, spa, fitness center, sauna, outdoor grilling/picnic areas, clubhouse, game room, lounge and business center.  Advenir will rebrand The Villages of Addison as Advenir@Addison.

The HFF investment sales team representing the seller was led by senior managing directors Roberto Casas and Bill Miller and directors Greg Toro and Rob Key.

The HFF debt placement team representing Advenir was led by managing director Josh Simon and senior managing directors Eric Tupler and Andy Scott.

 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 closes $16 million sale of two skilled nursing facilities in Georgia

   
Golden Living Center of Thomaston, GA

Golden Living Center of Jessup, GA
 DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $16 million sale of Golden Living Center of Jesup and Golden Living Center of Thomaston, two skilled nursing facilities totaling 209 beds in Jesup and Thomaston, Georgia.

HFF marketed the properties on behalf of a private seller.  

Golden Living Center of Jesup is located at 1090 West Orange Street in Jesup, which is the approximate midpoint between Savannah, Georgia, and Jacksonville, Florida.  

The center offers clinical services, including neuro, pulmonary, cardiac, bariatric, hemodialysis and trach.  The property was 89 percent occupied at the time of the sale.

 Golden Living Center of Thomaston is situated at 310 Avenue F in Thomaston, approximately 45 miles west of Macon and 65 miles south of Atlanta.  The facility offers hospice, pain management, respite, bariatric and wound care.  The property was 86 percent occupied at the time of the sale.

The HFF seniors housing team representing the seller was led by director Dave Fasano.

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