Wednesday, February 21, 2018

Boynton Beach-based firm’s 43 agents at The Realty Pros join Keyes to continue its Palm Beach County expansion

(From L eft): Keyes CEO Mike Pappas; Keyes Boynton Beach District Sales Manager Jo Ann Mazzeo; The Realty Pros Founder Debra Simon and Keyes Senior Vice President Steven Reibel

Boynton Beach, FL – The Keyes Company has announced the acquisition of the Boynton Beach-based real estate firm The Realty Pros.

This marks the fourth acquisition for the firm since August 2017, proving Keyes and its Family of Companies are committed to growth throughout South Florida and the Treasure Coast.
The Realty Pros brings 43 agents who specialize in Palm Beach County residential properties to the Keyes team. The acquisition was officially announced during a private event held on Wednesday, January 10.

Debra Simon
The location of The Realty Pros office at 8788 West Boynton Beach Boulevard within the Canyon Town Center brings significant strategic value to Keyes. West Boynton Beach is experiencing substantial growth and activity.
“We are thrilled to welcome The Realty Pros to the Keyes family,” said Keyes CEO Mike Pappas. “The Realty Pros team has substantial experience, top-notch professionalism and a true passion for real estate and serving the community.”
For The Realty Pros Founder Debra Simon, the transaction represents a full-circle moment following more than 30 years in the real estate industry. After initially obtaining her real estate license in 1985, Simon started her brokerage career with Keyes.
Simon also has a music background that she has parlayed into charity work throughout South Florida. She has spent countless hours performing and signing for residents at assisted living and Alzheimer’s facilities and veterans’ hospitals. Simon has long-term relationships with Alzheimer’s Research and Care, the Cancer Research Institute and Make-A-Wish Foundation.
Mike Pappas
“As an independent company we are excited to find a firm that shares our personal approach, enthusiasm for real estate and overall core values,” said Simon. “We are also excited to leverage the leadership, marketing, resources and technology of Keyes to promote our properties. We know this will be a successful union.”

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. 

In 2016, Keyes listed more than $1 billion in luxury homes priced at $1 million or more.

The Keyes Family of Companies is the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, Keyes has in excess of 1,100 Sales Associates and produces double the volume of its closest competitor.

For more information on this transaction, please contact:

Jasmin Curtiss
 Account Executive, BoardroomPR
 O 954-370-8999
 Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322

Grover Corlew Sells Resurgens Park Buildings in Fayetteville, GA for $16.3 Million

Fayetteville, GA Professional-Use Buildings off Highway 54

FAYETTEVILLE, GA  (Feb. 21, 2018) – Florida-based real estate investment group Grover Corlew announces the development and sale of the Fayette Surgical Building, Fayette Medical Building and a parcel of undeveloped land on Highway 54 in Fayetteville, Ga. for $16.3 million. 

After developing Fayette Medical Building approximately 10 years ago, Grover Corlew recently completed the state-of-the-art Fayette Surgical Building for Resurgens Orthopaedics.

“Our firm specializes in identifying properties with attractive investment features and unique development possibilities, which were evident with this property,” said Partner Anuj Grover. “The buildings are ideally situated right off Highway 54 in the growing Atlanta suburb of Fayetteville, catty-corner to Piedmont Fayette Hospital which is a 221-bed community hospital that is among the most highly-ranked and awarded hospitals in the Southeast.”

Anuj Grover
Grover Corlew broke ground on the Fayette Surgical Building in late 2016 and completed the building in October 2017. 

Resurgens Fayette Surgery Center occupies 16,644 sq. ft. of space in the Fayette Surgical Building offering a high quality, service-oriented environment for out-patient orthopaedic surgical procedures. The adjacent 13,551 sq.-ft. space is occupied by Resurgens Orthopaedics and Spine Center, the largest orthopaedic group in the state of Georgia.

In addition to the Fayette Surgical Building, the sale included the nearby 17,500 sq.-ft. Fayette Medical Building, also leased to Resurgens Orthopaedics, and an adjacent excess land parcel.

For more information on this transaction, please contact:

Samantha Van Nuys
Pierson Grant Public Relations
6301 Northwest 5th Way, Suite 2600
Fort Lauderdale, FL  33309
P: (954) 776-1999  ext. 115
F: (954) 776-0290                            
High Impact Digital

EagleBridge Capital Arranges $12,650,000 Mortgage Financing For Downtown Providence, Rhode Island Apartments

95 Lofts Apartments, 95 Chestnut Street, Near Knowledge and Jewelry Disricts, Downtown Providence, RI

Boston, MA: EagleBridge Capital, working exclusively on behalf of its client, has arranged permanent mortgage financing in the amount of $12,650,000 for 95 Lofts located at 95 Chestnut Street in the Knowledge District and near the historic Jewelry District in Downtown Providence, Rhode Island. 

Ted M. Sidel
The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted. M. Sidel who stated that the non-recourse loan was provided by a leading Massachusetts financial institution. The borrower was represented by the law firm of DarrowEverett.

95 Lofts is a six-story, 58,500 square foot, residential building consisting of 59 apartment units plus 2500 square feet of ground floor commercial space.

The building constructed in 1904 and then known as the Irons and Russell Building has undergone an extensive historical renovation in which period details have been carefully restored including an original ornate birdcage elevator, stairway subway tile, and terrazzo tile floors.

The units feature abundant natural light, exposed brick walls, high ceilings, original maple floors, and unique layouts.

Brian D. Sheehan
The apartments offer premium contemporary finishes with kitchens featuring the latest Energy Star rated appliances, modern cabinetry, and ample storage space. Other features include high speed wifi, a smartphone entry system, and high efficiency heating and cooling.    There are 33 one bedroom units and 17 two bedroom units and 9 studios.

Located nearby are the Brown University Warren Alpert Medical School, The Brown University Molecular Medicine Building, Women and Infants Hospital, Johnson and Wales University, and Lifespan’s world headquarters.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and  r & d buildings, shopping centers,  hotels, condominiums and mixed use properties as well as special purpose buildings.

For more information on this transaction, please contact:

Stanley J. Sidel
Senior Advisor
EagleBridge Capital
One Boston Place, Suite 2600
Boston, MA 02108
Tel: 617-292-7177 Ext. 300

Daum Commercial Directs Lease of Los Angeles County Industrial Facility to Expanding Olive Oil Manfacturer

Dennis Sandoval

MONTEBELLO, CA  (Feb, 21, 2018) – DAUM Commercial has completed the full-building lease of a 54,648 square-foot warehouse in Montebello, California on behalf of the lessor, Emery Investments, a Toronto-based privately owned real estate development and property management company. Dennis Sandoval, an Executive Vice President in DAUM’s City of Industry office, represented the lessor along with Kevin Sandoval, Kurt Yacko, and Bryan Sandoval, all with DAUM Commercial.

Kevin Sandoval
The tenant, Sunset Olive Oil, will maintain its occupancy in its existing processing plant in Montebello, and is expanding into this warehouse to meet additional needs for storing and distributing raw materials and its finished products.
“This expansion and lease was a win-win for Los Angeles County, and for our client,” says Sandoval. “Keeping manufacturers in the LA Basin is a priority for local leaders, especially as many businesses expand out of state, into Texas, Arizona and Nevada.  In this case, we worked closely with the City of Montebello and LA County to identify the right tenant for this property, which will create approximately 20 new jobs in the region.”

Bryan Sandoval
The property was recently upgraded with a new roof, new lighting, updated landscaping, refreshed office space with skylights, and both interior and exterior improvements.  Additional features include four dock-high loading doors, 68 parking spaces, and a secure private yard.
“A stand-alone industrial property with these features is a rare find in the current market,” says Sandoval.  “Drawing upon our knowledge of the submarket and our expertise in this product type, we were able to proactively market the building and garner multiple competitive offers within 30 days.”
Sandoval anticipates a continued rapid transactional pace as 2018 progresses.
Kurt Yacko
“Industrial leasing and sales are poised for a strong year,” he says.  “The Central/Southeast Los Angeles industrial market posted steady occupancy increases in Q4 of 2017, moving from 2.1-percent vacancy to 1.9-percent vacancy. In addition, average asking rents increased 8.1-percent year-over-year.  This is robust growth for the market and represents excellent growth potential for industrial lessors in the year ahead.”
The property is located at 1215 Washington Boulevard in Montebello, California.  The lessee was represented by Mark Repstad with Realty Advisory Group.
For more information, please contact:

Lindsay Mackay / Elisabeth Manville
(949) 955-7940

Marcus & Millichap Arranges $2.36 Million Sale of Summerplace at Sarasota, FL

                                                      Krone Weidler
SARASOTA, Fla., Feb. 21, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Summerplace at Sarasota, a 14.02-acre parcel of land located in Sarasota, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,365,000.

Krone Weidler and L.J. Tsunis, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution. The buyer, a limited liability company, was secured and represented by  Weidler Tsunis.
            “Through our comprehensive search, our team was able to maximize proceeds for the seller, and achieve a quick closing. The buyer plans to do an addition to a large senior housing complex,” says Mr. Tsunis
Summerplace at Sarasota is located in Sarasota, Florida, just one-half mile west of Interstate 75 and less than a mile south of Clark Road. The current zoning is Residential Multiple Family Category 1 (RMF-1) which allows a desirable variety of housing types with six units per acre density and auxiliary buildings for residential development.

L.J. Tsunis
The future land use is for medium density residential allows for greater than five units but less than nine units per acre. There is a 35-foot height restriction and a maximum building coverage area of 30 percent.
Known for small-town living, beaches and resorts, the Sarasota metro is a major draw for tourists and retirees. Roughly thirty percent of the population is age 65 and older, supporting a large network of healthcare providers and contributing to jobs in this sector. Goods and services also benefit from the demographic trends; the sector makes up a large portion of the local workforce.
The metro encompasses all of Manatee and Sarasota counties. The city of Sarasota is 60 miles south of Tampa. Summerplace at Sarasota is located at 5710 Draw Lane in Sarasota, Florida.

For more information, please contact:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700

Hold-Thyssen Closes on Investment Sale and Long-Term Lease of Professional Offices in New Port Richey, FL

Carol L. Kinnard

CLEARWATER / NEW PORT RICHEY --- Hold-Thyssen, LLC, a full service commercial real estate firm with offices in Clearwater negotiated a sale of real property, a corporation and a lease of professional offices in New Port Richey.

Carol L. Kinnard, transaction specialist at Hold-Thyssen, represented the seller, RTF Holdings, Inc. in a sale transaction at 5705-5713 Gulf Drive in the Gulf Drive Professional Center. The buyer is a real estate investor who purchased the 5,588 square foot building composed of five office units, two of which are leased, and the office condominium association.

At Counsel Square I, 7619 Little Road, Kinnard brokered a lease renewal agreement on behalf of the landlord, a private investor, for Suite 325C with 1,000 rentable square feet.  Psychological Management Group has been a tenant at Counsel Square since 1999 providing mental health services to individuals and families from this and five other locations in the Tampa Bay area.

Hold-Thyssen, Inc. 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 that 100 commercial properties throughout the United States.
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For more information, please contact

Larry Vershel or Beth Payan, Larry Vershel Communications Inc.