Thursday, August 23, 2018

Hanley Investment Group Arranges Sale of Two Brand-New Single-Tenant Starbucks in Northern California for $5.5 Million

Starbucks, Ripon, CA

Bill Asher
RIPON, CA and  PARADISE, CA – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm has completed the sale of two new construction, single-tenant, triple-net-leased corporate Starbucks in separate transactions in Northern California.

In the city of Ripon in the middle of California’s Central Valley, Hanley Investment Group Executive Vice President Bill Asher and Vice President Jeff Lefko represented the seller in the sale of a brand-new single-tenant Starbucks with a drive-thru for $2,748,500, representing a cap rate of 4.55 percent and $1,773 per square foot.

Jeff Lefko
Built in 2018, the new 1,550-square-foot drive-thru property is located on 0.36 acres at 338 E. Main Street, immediately adjacent to the State Route 99 freeway on/off ramps at Main Street in Ripon.

According to Asher, the property benefits from excellent access, a freeway-visible 65-foot pylon sign and approximately 116,000 cars per day at SR-99 freeway’s Main Street exit. SR-99 is the major north/south arterial through California’s Central Valley.

Steve Zakula
“Over 80 percent of all Ripon commuters drive alone with an average commute time of approximately 28 minutes, making the new Starbucks drive-thru on Main Street and Highway 99 an ideal stop for area residents and daily commuters,” noted Asher.

 “The property also benefits from affluent demographics with an average household income of nearly $98,000 within a three-mile radius and its close proximity to Ripon City Hall, Ripon Public Library, Ripon High School (900 students), Ripon Christian School (640 students) and Ripon Elementary School (400 students).”

The seller, who was represented by Asher and Lefko, was a private developer based in Glendale, California. The buyer, a private investor based in Northern California, was represented by Steve Zakula of Pacific Union International Inc. in San Francisco.

According to Asher, Hanley Investment Group procured an all-cash 1031 exchange buyer and closed escrow at 99 percent of the list price.

Harry Dematatis
In Paradise, California, located in the Sierra Nevada foothills above the northeastern Sacramento Valley, Hanley Investment Group’s Asher and Lefko arranged the sale of a brand-new single-tenant Starbucks with a drive-thru for $2,708,000, representing a cap rate of 4.80 percent and $1,091 per square foot. The property closed at 99 percent of the list price.

The seller, who was represented by Asher and Lefko, was a private investor based in Los Angeles. The buyer, a private investor based in Sonoma, California, was represented by Harry Dematatis of CBRE.

Built in 2018, the new 2,482-square-foot drive-thru property is located on 1.21 acres at 6344 Skyway Road, a major east/west thoroughfare in Paradise, the second largest city in the fast-growing and established Chico Metropolitan Statistical Area (MSA).

The city of Paradise has a population of approximately 27,000 residents. The Chico MSA, which has a total population of over 229,000 people, has grown by more than 20 percent over the last 15 years.

Starbucks, Paradise, CA

“The site housed a coffee use for over 15 years before Starbucks entered the market,” said Asher. “The property is the only Starbucks in an 11-mile radius and is the first Starbucks to open in Paradise.”

Both of the Starbucks locations have a cafĂ© with a drive-thru format, said Asher. “Approximately 60-70 percent of all business for quick-service restaurants come through the drive-thru in today’s market and average Starbucks store sales are approximately 50 percent greater in locations that have a drive-thru,” Asher noted.


Anne Monaghan

Trez Forman Capital Group Closes Acquisition Loan for Downtown Miami’s “First & First” Building

WPM Building, 40 and 46 NE First Avenue,
Downtown Miami, FL

 Miami, FL ––Trez Forman Capital Group has closed on a $4.1 million loan for the buyer of the “First & First” mixed-use building in downtown Miami.

Brett Forman
The Boynton Beach-based private lender is on pace to complete more than $500 million in 2018 transactions.

The “First & First” loan is Trez Forman’s first in Miami-Dade County this year, although the company has been actively lending throughout South Florida.

Located at 40 and 46 NE First Ave., the site includes eight-story and three-story structures with a combined 22,490 square feet. The structures were originally constructed in 1906 and 1915.

Trez Forman President and CEO Brett Forman arranged the transaction, which closed on Aug. 1, 2018. 

The borrower, which has an existing relationship with Trez Forman through Dan Rosenberg of Cohen Financial, plans to focus on leasing the available space to various office tenants. An existing restaurant occupies one of the ground-floor retail spaces.

“We were particularly attracted to the prime location of this unique and recognizable mixed-use site,” Forman said. “We continue to look for strategic opportunities to fund acquisition and construction loans in the tri-county area.”

Daniel E. Rosenberg
Trez Forman is a joint venture formed in 2016 by Boynton Beach-based Forman Capital and Vancouver-based Trez Capital Group - one of Canada’s largest private commercial mortgage lenders.

The venture provides commercial bridge loans for development and construction and senior stretch financing starting at $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

 Founded in 2016, Trez Forman Capital is a Florida-based commercial bridge lender for development and construction, senior stretch first mortgages and special situations nationwide. 


Eric Kalis
Account Director, BoardroomPR
Bank of America Plaza | 1776 N Pine Island Road

HFF announces $7.2 million sale of 8.03 acres within Durham, NC's Imperial Center

Justin Good
CHARLOTTE, NC –– HFF announces the $7.2 million sale of Covington at Imperial Center, an 8.03-acre land site within Durham, North Carolina’s Imperial Center.

The HFF team marketed the parcel on behalf of the seller, Crown Realty & Development.  Woodfield Development purchased the site free and clear of existing financing.

Covington at Imperial Center is located at 5321 Page Road, which positions it between Raleigh and Durham’s central business districts and within minutes of Research Triangle Park. 

The site is also within walking distance to the surrounding lifestyle amenities and employers in Imperial Center, which is home to more than four million square feet of mixed-use space situated on 456 acres. 

Jeff Glenn
Covington at Imperial Center is zoned for up to 300 multi-housing units, up to 8,700 square feet of office and up to 10,000 square feet of retail.

The HFF investment advisory team representing the seller consisted of managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and directors Caylor Mark and Sarah Godwin.

Crown Realty & Development’s Chief Operating Officer Kreg Groat represented the seller in the transaction and stated, “This was a treasured asset given the enormous development opportunity, and we are excited and confident that Woodfield will develop a fantastic product, which will positively impact the entire Imperial Center.”

Sarah Godwin
Holliday GP Corp. ("HFF"), a North Carolina licensed real estate broker.

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

 Headquartered in Costa Mesa, California, and with offices in Beverly Hills and Paradise Valley, Arizona, the firm’s current portfolio of office, retail, multifamily and industrial projects, with a portfolio value approaching $1 billion. 

Caylor Mark
 Crown’s team members in the disposition included Ann Vera, Vice President of Transactions, and Nikkie Marion, Senior Property Manager.

Woodfield Development is a premier developer and operator of Class A multifamily communities in the Mid-Atlantic and southeastern United States. 

The partners in Woodfield share a depth of experience in development, asset management and real estate capital markets. 

Since the formation of the company in 2005, Woodfield has completed 35 communities, has eight communities under construction and 13 projects at various stages of entitlement and design. 

Nikkie Marion
From the first development and each one thereafter, Woodfield Development’s singular goal has been to deliver well-conceived, thoughtfully designed, market-supported projects that hit the mark and then some. 

With a track record that stands alone, Woodfield Development sets out to assemble the best team of designers, consultants, architects, contractors and capital sources – every project, every time.


NC Lic. #261333
HFF Managing Director
(919) 573-4642

HFF Public Relations Specialist
(713) 852-3500

HSA Commercial and Clarion Partners Break Ground on Heartland Corporate Center, a planned 757,880 SF Distribution Center in Shorewood, IL

Rendering of planned Heartland Corporate Center, Shorewood, IL

CHICAGO, IL — Chicago-based HSA Commercial Real Estate and New York-based Clarion Partners LLC  jointly announced the start of construction on Heartland Corporate Center, a state-of-the-art 757,880-square-foot warehouse located on a 46-acre land site near the I-55 and I-80 interchange in Shorewood, Ill.

Robert E. Smietana
The new distribution center is being developed on a speculative basis and will feature 36-foot clear heights, 108 truck docks and 240 parking spaces for employees and visitors. Site work is already underway with tenant occupancy planned for early 2019.

The 46-acre development site, which was recently annexed by the village of Shorewood as part of the project’s entitlement process, is accessible and visible from both I-55 and I-80.

 Given the area’s vital importance as a national logistics and distribution hub, the I-55 industrial real estate submarket has experienced the largest number of new warehouse developments in the Chicagoland area.

“Despite the unprecedented growth and development in the I-55 corridor over the last couple years, absorption and demand have remained extremely strong, which speaks to the strategic value of the market for large warehousing and logistics firms,” said Robert Smietana, vice chairman and CEO with HSA Commercial Real Estate.

David Bercu
“We feel very confident about a quick lease-up based on the interest we have experienced thus far for Heartland Corporate Center, which is the single largest warehouse building we have developed in our company’s history.”

Rosemont, Ill.-based Meridian Design Build is the general contractor for the development, and David Bercu and Matthew Stauber of Colliers are responsible for project leasing.

Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. 

Matthew Stauber
Along with developing and acquiring more than 100 million square feet of commercial real estate across the United States, with a total consideration in excess of $6 billion, HSA Commercial Real Estate has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio in excess of 14 million square feet in locations across the nation; and owns more than 10 million square feet of commercial property throughout the country.

Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 36 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles and Washington, DC. 


Rebecca Boykin,, (312) 267-4523
Abe Tekippe,,  (312) 267-4528

New Hires Strengthen Ackerman & Co.’s Healthcare Real Estate Division

Brett Buchwald
ATLANTA, GA, Aug. 23, 2018 Continuing the expansion of its healthcare services platform, Ackerman & Co. has hired Brett Buchwald as a vice president specializing in medical office investment sales. As part of Ackerman’s healthcare division, Ackerman Medical, he will represent both buyers and sellers in healthcare real estate transactions.

Buchwald joins the firm from Marcus & Millichap, where he participated in nearly $50 million in commercial real estate transactions.

Some of these include Piedmont Healthcare & Walgreens Pharmacy on Peachtree Road in Brookhaven, Ga., for $27.6 million, a multi-tenant medical office building on Martin Luther King Jr. Boulevard in Atlanta for $8.7 million and Davita Dialysis on Candler Road in Decatur, Ga., for $4 million.

Larry Jarema
In yet another strategic hire, Larry Jarema has rejoined the firm as a senior vice president with a focus on landlord and tenant representation in the medical office sector.

He brings more than 30 years of expertise in both corporate and healthcare real estate, including his previous role as a landlord and tenant representative for nearly four years at Ackerman. Most recently, he was a regional leasing manager at Physicians Realty Trust.

“Brett and Larry bring a proven track record of success in both the corporate and healthcare real estate sectors, as well as deep relationships with healthcare tenants and landlords,” said F. Keene Miller, president of Brokerage at Ackerman. “We’re thrilled to add their expertise as we continue to grow our brokerage services platform.”

F. Keene Miller
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast.

The company, founded in 1967, retains an expert team of more than 100 real estate professionals.

To date, Ackerman & Co. has developed and acquired more than 36 million square feet of office, medical, industrial, retail and mixed-use space, has 8 million square feet under management and maintains an investment portfolio valued at $1 billion. 


Steve Webb