Sunday, August 5, 2018

Marcus & Millichap Brokers $1.6 Million Sale of 16-Unit Paradise Gardens Apartments in Cape Coral, FL

Francisco P. Carriera

CAPE CORAL, 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 Paradise Gardens, a 16-unit apartment property located in Cape Coral, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,600,000.

Francesco P. Carriera, Joshua Teplitzky, Michael P. Regan, Cameron S. Barbas and Benjamin Skinner, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  
The buyer, a private investor, was secured and represented by Benjamin Skinner, Francesco P. Carriera, Michael P. Regan, Cameron S. Barbas and Joshua Teplitzky, investment specialists in Marcus & Millichap’s Tampa office.
“Paradise Gardens offered the buyer with an opportunity to acquire a well located, amenitized property within walking distance of Cape Coral Hospital. Ultimately, the buyer intends to invest in property exterior enhancements to further attract young medical professionals,” stated Mr. Skinner.

Joshua Teplitzky
Paradise Gardens is located less than one mile east of Del Prado Boulevard, the city's major north/south corridor, experiencing an average daily traffic count of over 39,500 vehicles per day.
Downtown Fort Myers is experiencing a rapid evolution and expansion as the city has implemented initiatives such as the Midtown and Downtown Redevelopment Plan, which places an emphasis on creating density, a large diverse economy, regional tech hub, and a vibrant, urban lifestyle that will attract large employers and young professionals alike. 
Paradise Gardens is located at 801 SE 12th Ave in Cape Coral, Fla.

For more information, please contact:

Whitney Davis
Marketing Coordinator
Marcus & Millichap
4030 W. Boy Scout Boulevard
Suite 850
Tampa, FL 33607
(813) 387-4700 main
(813) 387-4743 direct

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EverWest Sells The Quad, Landmark Scottsdale, AZ Redevelopment Project

Rendering of The Quad,  6200 – 6390 East Thomas Road, Scottsdale, AZ

CJ Osbrink
Phoenix, AZ – EverWest, in partnership with WHI Real Estate Partners L.P. (“WHIREP”) and co-developer George Oliver Companies, has completed the sale of The Quad, a landmark redevelopment project that reformed a 1982-built executive suites campus into a next-generation creative office community in Scottsdale, Arizona.

Located at 6200 – 6390 E. Thomas Rd., at the northwest corner of 64th Street and Thomas Road, The Quad represents a $23 million renovation that between July 2016 and November 2017 delivered 166,606 square feet of creative office space in 14 modern, multi-tenant buildings – an effort that earned the project the NAIOP 2017 Redevelopment Project of the Year award.
CJ Osbrink, Kevin Shannon, Ken White, Paul Jones, Brunson Howard and Rick Stumm of NKF Capital Markets represented EverWest and WHI in the transaction.
Kevin Shannon
Bryan Taute and Charlie von Arentschildt of CBRE were the project’s exclusive leasing brokers and partners in bringing The Quad from zero to 98 percent leased. The architect for The Quad is Denver-based Gensler. The general contractor is RSG Builders.
“The transformation from Scottsdale Executive Villas to The Quad was an incredible combination of ideas that ended up creating a first-of-its-kind product in our market,” said George Oliver Companies Managing Director Curt Kremer. 
“The team provided the framework for these buildings that ultimately attracted a tremendous roster of tenants. That community of tenants was the final piece in the puzzle, and makes The Quad everything it is today.”
“The Quad is one of the most unique office properties in Scottsdale, representing a collaboration between some of the most successful office renovation experts in the industry,” said EverWest Senior Director Amr Ceran, who manages the company’s Arizona and Southern California real estate portfolio, including investment, redevelopment and lease-up.

 “That expertise is reflected in this campus and its successful tenancy.”

Amr Ceran

Office suites feature open ceilings, efficient floor plates, and include private outdoor workspaces with sliding patio doors that create an indoor-outdoor work environment. 

Buildings at The Quad are connected by park-styled courtyards and seating areas with free, property-wide Wi-Fi and music.

Tenants at The Quad range in size from 25,000 square feet – represented by a lease from online home seller Opendoor – down to 1,900 square feet, with the average tenant occupying 7,000 square feet.

Curt Kremer
All suites are centered around a 4,500-square-foot gathering facility with state-of-the-art conference and event space, a full catering kitchen, a tenant-exclusive fitness center with showers and lockers, and Pitch, an on-site restaurant serving breakfast, lunch, dinner and an after work drink to tenants, guests and neighbors.
Other features of The Quad’s community-centric site plan include three dog parks, a bocce court, bike parking and a direct connection to the Cross-Cut Canal multi-use path. For employees who commute to work by car, The Quad offers a 5/1,000 parking ratio.
The Quad is located approximately three miles from the Loop 101 and Loop 202 freeways, two miles from Old Town Scottsdale and is minutes from Sky Harbor International Airport, Arizona State University and downtown Tempe.
Ken White
EverWest’s Phoenix activity over the past 24 months includes the sale of The Madison - a Class A office campus located in the heart of Phoenix’s Camelback Corridor; Great American Tower – a landmark downtown Phoenix high-rise office building that the company improved prior to sale; and 10 Chandler, a 553,000-square-foot flex/industrial building located in the Chandler Tech Corridor.
It also includes renovation of The Circuit in Tempe from a former semiconductor building into 185,000 square feet of creative office space that is now more than 75 percent leased to Oscar insurance and On Q Financial. 
EverWest is currently renovating Seville Professional Center, a two-story building totaling 92,581 square feet on North Scottsdale Road.

Paul Jones
Outside of Phoenix, EverWest’s renovation and repositioning activity includes LINQ in Redondo Beach, California, The Yard in Denver and Upcycle in Austin.
EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado. 

The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets. 

For more information on EverWest, visit For more information on GWL Realty Advisors, visit

Brunson Howard
WHI Real Estate Partners L.P. (“WHIREP”) is a Chicago-based investment firm focused on repositioning middle-market real estate assets throughout the United States.

 WHIREP manages a series of discretionary investment funds on behalf of university endowments, foundations, pension plans, family offices, and other investors. 

For more information about WHI Real Estate Partners L.P., visit

For more information, please contact:

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195