Tuesday, July 3, 2018

Three New Industrial Leases Completed by NAI Realvest brings Poinciana CommerCenter East Occupancy Rate to 90%

Michael Heidrich
KISSIMMEE, FL – NAI Realvest recently closed three long-term lease agreements with new tenants for industrial space totaling 5,940 rentable square feet bringing the occupancy to 90 percent at Poinciana CommerCenter East in Kissimmee.  

NAI Realvest Principals Michael Heidrich and Matt Cichocki negotiated the leases on behalf of the landlord Small Bay Partners,LLC of Maitland.

Allied Restoration and Construction LLC, a commercial and residential restoration service based in Stamford, Conn., leased 2,700 square feet at 1743 Business Center Lane.  The tenant was represented by Jeff Skulnik and Alexander Evert at Sutter & Nugent.  

Matt Cichocki
The NAI Realvest team also negotiated new lease agreements with two local companies on behalf of the landlord.  Dan Thomas Painting leased 1,890 square feet including fenced outside storage at 1825 Business Center Lane; and Trubarber, LLC leased 1,350 square feet at 1799 Business Center Lane.  

For more information, please contact:

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

Trion Properties Expands Portland, OR Area Portfolio to 10 Assets

Pacific Crest Apartments, Tigard, OR

TIGARD, OR -- Trion Properties, a private equity real estate firm that specializes in value-add multifamily investments in four niche markets along the west coast, has acquired Pacific Crest Apartments, a 156-unit multifamily community in the Portland submarket of Tigard, Oregon, for $28 million.

Max Sharkansky
This is Trion’s tenth acquisition in the greater Portland area in just over three years, bringing the firm’s multifamily portfolio in the region to nearly 700 units, according to Max Sharkansky, Managing Partner of Trion Properties.
“We remain focused on the Portland metropolitan area due to its long-term growth and the establishment of several major employers in the region, which has gained a reputation as the ‘Silicon Forest,’” says Sharkansky.
“Tigard in particular continues to be one of the strongest performing markets in the greater Portland area, with Washington County having the highest median household income in the state.

Mitch Paskover
"The city’s solid economic fundamentals and high quality of life are driving resident demand for housing in this market, resulting in long-term growth potential for multifamily investments.”
Pacific Crest Apartments, which was originally build in 1974, is located at 10695 SW Murdock Street in Tigard, Oregon. It is situated adjacent to Maple Tree Apartments, a multifamily community that Trion Properties acquired earlier this year.
The community was purchased from a private seller. Gail Neuburg and Samuel Lawhead of ARA Newmark represented both parties in this transaction. Continental Partners arranged a $18.368 million loan at a starting rate of 3.89% to finance the acquisition.
Gail Neuburg
The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment.
The asset is ideally-located to offer those employed by major area firms including Nike, Intel, Kaiser Permanente, and businesses located in the Tigard Industrial District, the ease of convenient work commutes through its close proximity to Pacific Highway West and 217 Highway Corridor, notes Sharkansky.
“Pacific Crest Apartments is an excellent addition to our portfolio of Portland-area assets that are strategically positioned along the 217 Highway,” he continues. 

Sam Lawhead
The apartment community is also located in the Tigard-Tualatin School District, which recently received $291 million in additional funding to further advance classroom textbooks and technology, increase classroom availability, and significantly 

For more information, please contact:
Elisabeth Manville / Lindsay Mackay
Brower Group
(949) 955-7940

KW Property Management & Consulting Expands Southwest Florida Portfolio

Admiralty Point main entrance, Naples, FL
MIAMI, FL -- Continuing the company’s explosive growth, KW Property Management & Consulting is expanding its portfolio with three new Southwest Florida assignments. Fort Myers’ Ariel at the Landings, Admiralty Point in Naples, and Village Walk of Bonita Springs are now partnering with the prominent residential property management company.
The high-rise Ariel at the Landings includes 130 condominium units. The gated, waterfront community of more than 1,000 homes is equipped with a boat ramp, storage and marina, allowing for the boating lifestyle that comes along with living on the southwest coast of the state.

Village Walk, Bonita Springs, FL
 Residents of the 5260 South Landings Drive community can also enjoy a major meeting clubhouse with restaurant, fitness center, 13 tennis courts, 18-hole executive golf course and an on-site ballroom with kitchen and bar, billiards and card room and guest suites.
Admiralty Point is a gated community consisting of two residential condominium buildings totaling 144 units. The 2300 Gulf Shore Boulevard North community sits on 10 acres of land surrounded by water on three sides, including Doctor’s Pass, Moorings Bay and the sunny beach on the Gulf of Mexico. 24-hour gated access is also a key element, and unusual for condo buildings along Gulf Shore Boulevard.

Zuly Maribona
Outdoor living is well-accommodated, with the presence of a clubhouse, barbecue areas, pools, lush landscaping, car wash, 24 boat slips, floating kayak boat launch.
Village Walk of Bonita Springs is made up of 1,655 attached villas, single-family homes and townhomes. The private lakefront community includes a pool, spa, clubhouse, tennis courts, 24-hour on-site gas station and fitness center.
 Its location is ideal for shopping and dining at local Bonita Springs restaurants and stores, or the community’s town center. A full-time activities director is also on hand to help keep residents entertained.

Roy Hyman
“We owe the success of our expansion to the hard work every member of the KWPMC team has put in,” said KWPMC Regional Manager Zuly Maribona.
“From management to those who are on the front lines every day at our properties, everyone works to deliver a multitude of services to meet the needs of our communities.”
The company’s recent success can also be attributed to its multi-faceted rebrand highlighted by the launch of a new website, company tagline and programming aimed at enhancing the lives of the residents it serves.
“These new communities embody the peaceful waterfront lifestyle that is associated with living on the Southwest coast of Florida,” said KWPMC Business Development Manager Roy Hyman, who works from the Southwest Florida office at 3365 Woods Edge Circle, Suite 102 in Bonita Springs.

 “Our team is looking forward to continuing to provide the support needed to foster the dream these residents had when they moved in.”
For more information on KWPMC’s Southwest Florida operations, call Roy Hyman at 239-495-3428.

For more information, please contact:
Eric Kalis


HFF announces sale and financing of 101 Mission Street in San Francisco

101 Mission Street Office Tower, San Francisco, CA
(Photo by 
Vantage Point  Photography Inc.)

Gerry Rohm

SAN FRANCISCO, CA – HFF announces the sale and the subsequent $116.5 million financing of 101 Mission Street, a 206,455-square-foot, 21-story, Class A office tower in San Francisco, California.
The HFF team represented the seller and procured the buyer, Vanbarton Group, LLC.  Additionally, the HFF team worked on behalf of the buyer to secure the acquisition financing for the property.

101 Mission Street is centrally located in the heart of San Francisco’s South Financial Transbay District. 

 With a Transit Score® of 100 and a Walk Score® of 92, the institutional-quality property is just blocks from Transbay Transit Center, Embarcadero Station with access to both BART and San Francisco Muni trains, The Ferry Building and the Embarcadero waterfront. 

The LEED Gold property features sweeping views of the San Francisco Bay, rare column-free office space and 10,500-square-foot typical floor plates.  101 Mission is currently 86 percent leased to a diverse tenant roster, including Wells Fargo, Forbes and Pearson. 

Michael Leggett
The HFF investment advisory team representing the seller included senior managing directors Gerry Rohm and Michael Leggett, senior directors David Dokko and Ben Bullock and director Thomas Foley.

“It was a true pleasure working with both the seller and Vanbarton Group on this transaction,” said Rohm.  “Both groups exhibited a high degree of professionalism throughout the transaction, which speaks to the quality of the people at both organizations.”

The HFF debt placement team that arranged the financing consisted of senior managing director Peter Smyslowski.

Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Bureau of Real Estate, License Number 01385740.

David Dokko

Vanbarton Group is a privately owned, vertically integrated real estate investment and advisory firm founded in 1992 with corporate offices in New York City and San Francisco. 

With its proven expertise successfully investing across the capital stack in varying ways throughout real estate cycles, Vanbarton's investments include U.S. domestic core plus, value-add and opportunistic equity investments, preferred equity, junior participations, bridge loans, secondary market debt acquisitions and securitized credit. 

To find out more about Vanbarton, please call 212-293-8800, or visit the firm’s website at vanbartongroup.com.

For more information, please contact:

HFF Director, Public Relations
(617) 338-0990

HFF announces $31.4 million sale of four office buildings within Imperial Center in Durham, NC

HFF brokered the sale of four office properties in Durham, NC.
They were Chelsea Place and Oxford Place (both shown above), 
Cambridge Hall and Canterbury Hall.

Kreg Groat
CHARLOTTE, NC – HFF announced the sale of four office properties in Durham, North Carolina, totaling $31.4 million within two separate transactions to OA Development (OA). 

 The properties are Chelsea Place, Oxford Place, Cambridge Hall and Canterbury Hall.

Chelsea Place and Oxford Place were marketed by the HFF team.  Kreg Groat, Chief Executive Officer of Crown Realty & Development managed the transaction on behalf of the seller and the two assets were sold to OA for $17.3 million. 
Scott Humphrey

Cambridge and Canterbury Hall were purchased by OA from the seller, Bridge Investment Group, who was also represented by HFF.

All four properties are located in the RTP/I-40 submarket of Raleigh-Durham within Imperial Center, the area’s premier business park that has more than four million square feet of mixed-use space on 465 landscaped acres. 

The park offers a market leading amenity package, including various dining options, multiple retail destinations, four name brand hotels and a host of health and fitness amenities. 

 This location offers convenient access to Interstates 40 and 540, the area’s two primary transportation nodes, connecting the property to Raleigh’s primary residential communities, Raleigh-Durham International Airport and Research Triangle Park.

Ryan Clutter
Chelsea Place and Oxford Place are located at 1007 and 1005 Slater Road and total 121,511 square feet in two Class A office buildings. 

 Recently renovated, the properties are 86.5 percent leased to STEM and healthcare tenants, including Principled Technologies, Inc.; Gordon Asset Management, LLC and Social & Scientific Systems, Inc.

Cambridge Hall and Canterbury Hall are located at 4813 and 4815 Emperor Boulevard.  The twin three-story buildings total 89,797 square feet and are fully leased to tenants such as ThermoFisher Scientific and McKesson Corporation.

The HFF investment advisory team representing the sellers consisted of senior director Scot Humphrey, senior managing director Ryan Clutter and director Christopher Lingerfelt. 

Christopher Lingerfelt
Crown Realty & Development was established in 1994 by Robert Flaxman and Jamie Sohacheski to apply intelligent real estate strategies with determined and reliable execution. 

 The firm is headquartered in Costa Mesa, California and with offices in Beverly Hills and Paradise Valley, Arizona

Holliday GP Corp. ("HFF") is a North Carolina licensed real estate broker.

For more information, please contact:

HFF Director, Public Relations
(617) 338-0990

HFF announces sale of 1001 McKinney in downtown Houston, TX

1001 McKinney Office Tower,
Downtown Houston, TX
H. Dan Miller
HOUSTON, TX –– HFF announces the sale of 1001 McKinney, a 23-story, 375,440-square-foot office building in Houston’s central business district (CBD).

The HFF team represented the seller, a partnership between Cameron Management and Silverpeak Real Estate Partners, and procured the buyer, a partnership between TRC Capital Partners LLC, and Amstar America LLC.

Situated on the corner of McKinney and Main in the heart of Houston’s CBD, 1001 McKinney is convenient to the city’s METRO Light Rail, Greenlink Bus System and the city’s highway system, including Interstates 10, 45 and 69. 

 Additionally, the property is linked to the underground tunnel system, which connects 95 full city blocks and offers more than 400,000 square feet of retail and restaurant space in a climate-controlled, subterranean environment. 

Marty Hogan
1001 McKinney was constructed in 1947 and is a historic landmark on the National Register of Historic Places.  

The LEED Gold and Energy Star-rated building was recently renovated and offers tenants an attached, 2.0/1000 parking garage, on-site conference facility, bike room with showers and direct access from the lobby to Morton’s Steakhouse. 

 1001 McKinney was 76% leased at closing providing the buyer with immediate upside through the lease up of vacant space and raising in place rental rates to market.   

“We strongly believe in the Houston CBD and have been looking for several years at historic buildings that offer compelling value for both tenants and our investors,” commented Steve Lerner, President and CEO of TRC Capital Partners.

Johnny Kight
The HFF investment advisory team representing the seller included senior managing director H. Dan Miller, senior director Marty Hogan and real estate analyst Johnny Kight.

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

Cameron Management is a Houston-based real estate company focused on bringing value to its tenant base through effective on-site management as well as to the company at large. 

 The Cameron Management concept is to house all functions of owning and managing a commercial office property under one umbrella: ownership, property management, leasing and engineering.  

Steve Lerner
Silverpeak Real Estate Partners is a privately-held real estate investment and advisory business headquartered in New York, with additional offices in Atlanta and London. 

Since its formation in 2010, Silverpeak, together with investment partners, has acquired over $15 billion of gross asset value in 180 transactions across various property types and U.S. geographic regions. 

In addition, Silverpeak actively manages over $2.4 billion in gross asset value on behalf of three opportunistic real estate private equity funds (as of March 31, 2018). 

For more information, please contact:

HFF Director, Public Relations
(617) 338-0990

Structured Development to Build New Menomonee Club Facility As Part of The Shops at BigDeahl in Chicago’s Lincoln Park

Menomonee Club Building, 1535 North Dayton Street, Chicago, IL

CHICAGO, IL – Chicago-based Structured Development  announced it has entered into an agreement with the Menomonee Club to purchase its 36,000-square-foot community center at 1535 N. Dayton St., known as the Drucker Center.

Structured plans to develop a new facility for the nonprofit organization on a portion of its 2.5-acre site at the southwest corner of Blackhawk and Kingsbury streets, where the developer has proposed a 200,000-square-foot mixed-use center called The Shops at Big Deahl.

Under the agreement with the Menomonee Club, which is contingent upon Structured’s ability to secure approvals from city officials, the developer will assume control of the existing Menomonee site at 1535 N. Dayton St., allowing for the development of a 197-unit apartment building.

J. Michael Drew
An existing planned development for the Shops at Big Deahl site would be revised to allow for the development of an over 50,000-square-foot recreation center, which would be completed in 2020. 

The revision would also expand the planned development with additional land at 855 W. Blackhawk St., which Structured acquired in August 2017. 

“The Menomonee Club has been an integral part of this neighborhood for over 70 years and in the Halsted Triangle since 2001,” said J. Michael Drew, founder of Structured Development.

“Being able to provide it with a new state-of-the-art facility acknowledges its place as a key part of the fabric of the greater Lincoln Park community and, more specifically, the Halsted Triangle.

The growing residential and mixed-use plans for the surrounding area make Menomonee Club an even more important resource for the community.”

For more information, please contact:

Susan Swartz, sswartz@taylorjohnson.com, (312) 267-4519
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Hanley Investment Group Completes Sale of Neighborhood Shopping Center in the Inland Empire for $9.8 Million

RC Plaza neighborhood shopping center. Archibald Avenue and East Foothill Boulevard, Rancho Cucamonga, CA

RANCHO CUCAMONGA, CA – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, in conjunction with Voit Real Estate Services, announced the two firms completed the sale of RC Plaza, a neighborhood shopping center at the signalized intersection of Archibald Avenue and East Foothill Boulevard in Rancho Cucamonga, California. 

Bill Asher
The purchase price was $9,795,000.   

Hanley Investment Group's Executive Vice President Bill Asher and President Ed Hanley, along with Vice President Joe Miller of Voit Real Estate Services of Anaheim, California, represented the seller, a private partnership based in Orange County, California.

 The buyer, a private investor from Los Angeles, was represented by Eric Treibatch of Ophir Management Services Inc. of Encino, California.

Built in 1984, RC Plaza is comprised of nine retail buildings totaling 37,239 square feet and situated on 3.01 acres in San Bernardino County. National tenants include Starbucks (with a drive-thru) and Pizza Hut.

Ed Hanley
 The property purchased is the majority share of the RC Plaza shopping center, which includes an additional multi-tenant 15,717-square-foot building that is separately owned and was not a part of the sale. 

“We generated a tremendous amount of interest due to the shopping center’s value-add investment attributes,” said Asher. 

“The asset featured an overall low price per square foot, below-market rents as well as a stand-alone Starbucks building positioned on a separate parcel, offering the future flexibility to sell off separately as a net leased asset.”

Asher continues, “We utilized a long-term broker relationship to successfully secure a buyer that clearly understood the many unique characteristics of the property, at a price that met the seller’s expectations. 

Joe Miller
"Our company believes in 100 percent cooperation with the outside brokerage community as we truly value the cooperating broker relationships we have built and continue to maintain in the industry.”

Approximately 71 percent of the existing tenancy has occupied space at the property since at least 2012, Asher said. 

“Starbucks constructed a drive-thru in 2006 and signed a new 10-year lease extension in 2015, which demonstrated their long-term commitment to the location,” Asher noted.

“Due to some challenging characteristics of the property, we strategically structured the buyer’s due diligence review ahead of finalizing a formal contract and opening escrow to best retain maximum value for the seller and facilitate a seamless and smooth transaction for both parties,” Hanley added.

“Shopping centers that provide future upside potential in today’s market are becoming more challenging for investors to find in southern California, which is why RC Plaza was highly sought-after during our marketing process and will continue to be the type of retail asset in high demand for investors,” noted Hanley.

Voit Real Estate Services is a privately held, broker owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients' needs.

Throughout its 45+ year history, the firm has developed, managed and acquired more than 64 million square feet, managed $1.4 billion in construction projects and completed in excess of $48.1 billion in brokerage transactions encompassing more than 46,000 brokerage deals.

For more information, please contact:

Anne Monaghan