Tuesday, August 14, 2018

Hanley Investment Group Arranges Sale of Coffee Bean & Tea Leaf with Drive-thru in Rialto, CA for $1,667 PSF

Coffee Bean and Tea Leaf Headquarters,
1877 North Riverside Avenue, Rialto, CA

RIALTO, CA -- Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm completed the sale of a brand-new single-tenant retail property occupied by The Coffee Bean & Tea Leaf at 1877 North Riverside Avenue in Rialto, California.

Bill Asher
The sale price was $2,895,000, representing a 3.8 percent cap rate and $1,667 per square foot.

Hanley Investment Group Executive Vice President Bill Asher and Vice President Jeff Lefko represented the seller, Fountainhead Development based in Newport Beach, California. 

Ash Joshi of Capital Realty Solutions Inc. in San Fernando, California, represented the buyer, a private investor based in Chatsworth, California.

The new construction, freestanding, 1,710-square-foot The Coffee Bean & Tea Leaf, which opened on July 23rd, has a drive-thru and is located on a 0.48-acre pad at the hard corner, signalized intersection at Riverside Avenue and Easton Street/Highland Avenue, where traffic counts are in excess of 62,000 cars per day.

Jeff Lefko
The property is immediately adjacent to the Interstate 210 freeway at the Riverside Avenue entrance/exit. 

The 210 Interstate freeway is one of the major east/west freeways connecting California’s San Gabriel Valley and Inland Empire.

“The initial 15-year lease term was a very compelling attribute to the investment in obtaining sub-four percent cap pricing and generating multiple additional offers within striking distance,” said Asher.

Ash Joshi
“The asset featured the outstanding real estate fundamentals passive investors look for in today’s market - hard corner, signalized location, morning drive side to work for coffee drinkers, immediate access to a major freeway, and rare prominent city freeway signage,” notes Asher.

“The property benefits from high-identity freeway signage rights owned in perpetuity; one of only three retail tenants featured on the City of Rialto’s 95-foot pylon located along the 210 Interstate freeway, which is highly visible by daily eastbound and westbound traffic,” said Lefko.

“Average daily traffic count along the 210 freeway is approximately 112,000 cars per day. The property is also situated near Interstate 215. At the Ramona Expressway exit on Interstate 215 average daily traffic count is 145,000 cars per day.”

“Sharing a signalized intersection with In-N-Out Burger (directly across the street) doesn’t hurt either,” added Asher. “Coffee Bean will certainly benefit tremendously long-term from the regional traffic In-N-Out Burger draws and speaks to the overall strength of the quality of the location.”

Other nearby national credit tenants that drive sales traffic to the immediate area include Arco/AMPM, Chipotle, Jack in the Box, Jersey Mike’s Subs, Wingstop, 7-Eleven, Carl’s Jr., Del Taco, Rite Aid, Walgreens and Verizon.

The City of Rialto is the sixth largest city in San Bernardino County and the 11th largest in the Inland Empire with over 369,000 people within a five-mile radius of the property. There are one million people within 10 miles.

The Coffee Bean & Tea Leaf is the oldest and largest privately-held American coffee chain. Founded in 1962 with over 1,000 locations around the world and growing, the specialty coffee and tea retailer is known for providing and sourcing the finest ingredients and flavors from around the world.

For more information, please contact:

Anne Monaghan

HFF announces $63 million financing for 385-unit apartment community in Littleton, CO

HiLine at Littleton Commons Apartments, Littleton, CO

DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announces $63 million in financing for HiLine at Littleton Commons, a 385-unit, Class A apartment community in the south Denver suburb of Littleton, Colorado.

Working exclusively on behalf of FMF Littleton LLC, the HFF team secured the five-year, 4.15 percent fixed-rate loan through a life company lender.  Loan proceeds were used to recapitalize the deal and refinance existing construction financing.  

Josh Simon
The loan featured full-term, interest-only, flexible prepayment and the ability to advance future loan proceeds at a future date.

Situated on 18.06 acres at 8300 Erickson, HiLine at Littleton Commons is in the Highlands Ranch/Lone Tree submarket south of Denver. 

 The property is just off C-470 and near the Mineral Light Rail Station, which offers access to the Rocky Mountains, downtown Littleton and the Denver Tech Center.  

Completed in 2016, HiLine at Littleton Commons features a mix of one-, two- and three-bedroom units and a total of 620 parking spaces, including attached and detached garages.  

Community amenities include an outdoor pool, hot tub, tanning deck with cabanas, outdoor kitchen and grilling area, 24-hour fitness center, clubhouse, billiards table, business center and dog park with dog wash station.

The HFF debt placement team representing the borrower consisted of managing director Josh Simon.

For more information, please contact:

HFF Public Relations Specialist
(713) 852-3500

Beverly Hills, CA Home Of Hollywood Legend Shirley Temple for Sale at $8.5 Million

Shirley Temple

BEVERLY HILLS, CA -- The former 4,500-SF home of actress, singer, dancer, model and diplomat Shirley Temple Black is on the market with an asking price of $8.5 million.

Shirley Temple Black was best known for her work as a child actress, singer, and dancer who starred in many classic Hollywood films in the 1930s. 

She quit making films at the age of 22 and went on to have a successful career as a businesswoman, serving on several corporate and nonprofit boards, and then served as the U.S. Ambassador to both Ghana and the Czech Republic after distinguishing herself as a diplomat within the State Department.

Temple’s former home, a massive, 4,500+ square foot, 7-bedroom, 7-bath English Tudor located in the flats of Beverly Hills, is up for sale for just over $8.5 million dollars. 

The home was most recently occupied by the late actor Joe Bologna of My Favorite Year fame, and his wife, the Actress Renne Taylor, best known for playing the mother of Fran Drescher’s character on The Nanny.

It’s a gorgeous home with a serious Hollywood pedigree, and it could be yours if you can come up with the $1.7 million down payment and swing a $45,000 monthly mortgage payment. Read on to take a tour through this celeb’s former Beverly Hills mansion.

This house is definitely Old Hollywood. As mentioned above, it has seven bedrooms and seven bathrooms and is designed in a classic Tudor style, with the exterior beautifully clad in shining white stucco. From the tree-lined street it sits on, the home’s entryway looks like it’s straight out of a Hollywood storybook.

Joe Bologna

The interior rooms are well appointed in a wide variety of exquisite materials. The entryway and primary living room have an arched, vaulted ceiling decorated with shining silver stars, gleaming hardwood floors, and a beautiful wrought-iron staircase decorated in a star motif. 

Renee Taylor

Many of the home’s rooms feature leaded glass windows and leaded glass French doors, with beautiful stained glass skylights in many rooms.

The main floor also features the home’s kitchen and dining room, a wood-paneled family room or library featuring a secret passageway behind a swinging bookcase, and two of the home’s bedrooms.

Fran Drescher

The upstairs of the home contains the five remaining bedrooms, including a large and elegant master suite, complete with an en-suite bath, featuring a walk-in shower and an elevated whirlpool tub. The master bedroom and two of the other bedrooms overlook the backyard gardens.

The 4,600 square foot home sits on a third of an acre in the flats of Beverly Hills. Near the entry, there is a beautiful fountain tucked neatly into the mature landscaping. 

Around the back, there are beautiful stands of bamboo, fully grown palm trees, an outdoor bar, and a large in-ground swimming pool.

The home sits on a street surrounded by a collection of many of the most well-known homes in Hollywood history. It’s conveniently located near The Beverly Hills Hotel and the Sunset Strip and within a quick drive of most of the area’s major attractions and amenities.

Whether you are in the market for a home with a true Hollywood pedigree or are just looking for a beautiful home in a wonderful and world-famous location, this home has much to recommend it

Given the history of its former owner and most recent occupants, living in such a home is worth the bragging rights, at the very least. Add the location, beautiful grounds, and excellent features to the package and you have a home built for Hollywood royalty.

For more information, please contact:

Brandon Kazimer | Account Supervisor
191 Waukegan Rd. Ste. 205 | Northfield, IL 60093
O: 224-661-3379 | C: 847-946-6448

Hold-Thyssen Closes on Multi-Year Leases Totaling 7,240 SF at Edgewater Commerce Center in Orlando, FL

Alex Rowlinson

ORLANDO, FL  --- Hold Thyssen, Inc., a full-service commercial property firm based in Winter Park, recently negotiated two multi-year leases for a total of 7,240 rentable square feet of flex space at Edgewater Commerce Center in the College Park area of Orlando at 6250 Edgewater Drive. 

The Hold-Thyssen leasing team of Alex Rowlinson and Troy Stevens represented the south Florida based landlord/owner of the commerce center in the lease agreements with:

Chimera Security, a full service security and investigative agency operating throughout Florida who leased 6,040 square feet; and

Prizm Event Design, a local event planning company who renewed their lease of 1,200 square feet. 

Troy Stevens

The two tenants employ a total of 14 persons
 at the commerce center where occupancy is up to 100 percent.

Hold-Thyssen, Inc. provides commercial property brokerage, 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.

For more information, please contact:

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

NAI Realvest Negotiates $2 Million Investment Sale of 21,000-SF Fully Occupied Industrial Building in West Orlando, FL

Michael Heidrich
ORLANDO, FL --- NAI Realvest recently negotiated a $2 million investment sale of the 21,142 square foot industrial building located at 4573 Dardanelle Drive in the West Orlando industrial area.

The industrial / showroom facility built in 1992 is occupied by one long-term tenant, Lifestyle Flooring, according to Michael Heidrich, principal at NAI Realvest, who represented Orange Distributors, Inc., the Lithia, FL-based seller.    

  Debar Properties LLC, an investor based in Apopka, purchased the property to complete a section 1031 tax deferred exchange.   

 Wilson McDowell of Cite Partners represented the buyer in the transaction.

For more information, please contact:

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