Thursday, December 6, 2018

ATTOM Data Solutions Finds Average Home Flipping Returns in U.S. Drop to 6.5-Year Low


Daren Blomquist

IRVINE, CA — ATTOM Data Solutions, curator of the nation’s premier property database, today released its Q3 2018 U.S. Home Flipping Report, which shows that a total of 45,901 U.S. single family homes and condos were flipped in the third quarter of 2018, down 12 percent from a year ago to the lowest level since Q1 2015 — a 3.5-year low.

Homes flipped in Q3 2018 represented 5.0 percent of all single family home and condo sales during the quarter — down from a 5.2 percent home flipping rate in Q2 2018 and down from a 5.1 percent home flipping rate in Q3 2017 to the lowest level since Q3 2016.

“Home flipping acts as a canary in the coal mine for a cooling housing market because the high velocity of transactions provides home flippers with some of the best and most real-time data on how the market is trending,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. 

“We’ve now seen three consecutive quarters with year-over-year decreases in home flips. The last time that happened was in 2014 following the mortgage rate jump in the second half of 2013, but it’s still far from the 11 consecutive quarters with year-over-year decreases in home flips extending from Q2 2006 through Q4 2008 and leading up to the last housing crash.”

CONTACTS:

Christine Stricker
949.748.8428

Data and Report Licensing:
949.502.8313

HFF announces sale of 4-property industrial portfolio in the Chicago MSA

Robin Stolberg

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a four-property, fully leased industrial portfolio totaling 713,555 square feet in the Chicago MSA.

The HFF team marketed the offering for the seller, Hackman Capital Partners.  A joint venture between High Street Realty Company and Angelo Gordon purchased the portfolio.

The Chicago MSA houses the second largest industrial market in the country.  The portfolio is a rare composition of four multi-tenant infill industrial assets located in the O’Hare and South Cook submarkets, two of the best industrial submarkets inside the Chicago MSA.\

  The O’Hare submarket properties are 1010-1050 Sesame Street in Bensenville, which is a 252,000-square-foot, two-tenant building, and 11241 Melrose Avenue in neighboring Franklin Park, which is a 77,301-square-foot, two-tenant building. 

Kurt Sarbaugh
The South Cook submarket properties are 11939 South Central Avenue in Alsip, which is a 320,871-square-foot, three-tenant building, and 6748-6750 South Sayre Avenue in Bedford Park, which is a 63,383-square-foot, two-tenant building. 

The HFF investment advisory team representing the seller included senior directors Robin Stolberg and Kurt Sarbaugh and analyst Sam Berry.

Hackman Capital Partners is a privately-held, real-estate investment and operating company that focuses on commercial and industrial properties in major U.S. markets. 

Founded in 1986, the company has conducted more than $2.6 billion in real estate transactions across 41 states – having owned, through affiliated entities, over 400 buildings totaling 35-plus million square feet.  For more information, visit https://www.hackmancapital.com.

Sam Berry
High Street Realty Company is a recognized private equity real estate investment management company focused exclusively on institutional quality industrial assets in major markets across the eastern two-thirds of the United States.  

With extensive expertise across all facets of real estate acquisition, finance, development, operations, disposition, portfolio and asset management, the company is an experienced, institutional, and hands-on operator committed to providing both outstanding service to its tenants and superior risk adjusted returns to its investors.  Visit http://hsrealtyco.com to learn more.

About Angelo Gordon
Angelo Gordon is a privately held limited partnership founded in November 1988. The firm currently manages approximately $32 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 450 employees, including nearly 190 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe and Asia. 


CONTACTS:

ROBIN STOLBERG
IL Lic. #475.123480
HFF Senior Director
(312) 528-3650

KURT SARBAUGH
IL Lic. #475.123047
HFF Senior Director
(312) 528-3650

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420





M/I Homes has Site Development Underway of 110-Homesite Community on Hull Island at Oakland, FL



David Byrnes
OAKLAND, FL --- M/I Homes started site development of Hull Island at Oakland , a new single-family home community located on Hull Island Drive in the town of Oakland in West Orange County near Lake Apopka .

The homebuilder’s 110 homesites at Hull Island will include 89 with 50-foot widths and 21 that are 80 feet wide with views of Lake Apopka , according to David Byrnes, area president of M/I Homes.

Development is expected to be complete for vertical construction to begin in the second quarter of 2019.   New three and four bedroom M/I Homes in one and two-story designs will be priced starting from the mid-$300s at Hull Island .

Amenities planned for the community include a pool, cabana, walking trails throughout the pristine nature preserve setting and a lookout pier on Lake Apopka .    
                         

CONTACTS
                                  
David Byrnes, Area President, M/I Homes,
 407-531-5100 dbyrnes@mihomes.com

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

HFF closes sale of Church Ranch Office Building II in Westminster, CO

DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Church Ranch Office Building II, the western regional headquarters of Staples, Inc. in the Denver community of Westminster, Colorado.

The HFF team marketed the property on behalf of a private equity firm based in New York. 

The buyer was a local private capital group managed by Basham & Associates, LLC, which is headquartered in Denver, Colorado.  The buyer was represented in the acquisition by Brandon Basham of Basham & Associates, LLC.

Jules Sherwood
Completed in 2000 and renovated in 2017, Church Ranch Office Building II contains 63,057 square feet that is fully leased to Staples, Inc. as their western regional headquarters. 

 Located at 10249 Church Ranch Way, the property is positioned 10 miles northwest of Denver’s central business district in the Northwest office submarket.  This location allows easy access to U.S. 36 and Interstate 25, providing access to Boulder, Denver and the greater metro area.

The HFF investment advisory team representing the seller included managing director Jules Sherwood and director Nate Perry.

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  

Nate Perry


HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:


JULES SHERWOOD
CO Lic. #EA.100035304
HFF Managing Director
(720) 744-2701

NATE PERRY
HFF Director
(303) 515-8017

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990

BRANDON BASHAM
Basham & Associates
(303)-615-9595

Marcus & Millichap Arranges $3.45 Million Sale of 2,740-SF Starbucks Pembroke Pines-leased Property in Pembroke Pine, FL

 


PEMBROKE PINES, 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 Starbucks, Pembroke Pines , a 2,740-square foot net-leased property located in Pembroke Pines, FL, according to Scott Lunine, Regional Manager of the firm’s Miami office. The asset sold for $3,450,000.

Ronnie Issenberg
Gabriel Britti
Gabriel Britti and Ronnie Issenberg, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 
Starbucks, Pembroke Pines is located at 9700 Pines Blvd in Pembroke Pines, FL. “The tenant recently extended the lease for an additional ten years, representing their commitment to the location,” explains Issenberg. 
“There continues to be a strong demand for South Florida, single tenant, net leased assets,” adds Britti.

CONTACTS:  

Daniella Aragon
Marketing Coordinator
Marcus & Millichap
5201 Blue Lagoon Drive
Suite 100
Miami, FL 33126
(786) 522-7000 main
(786) 454-0094 mobile
(786) 522-7010 fax
daniella.aragon@marcusmillichap.com










Marcus & Millichap Arranges $3.45 Million Sale of 2,740-SF Starbucks Pembroke Pines-leased Property in Pembroke Pine, FL



Gabriel Britti

Pembroke Pines, 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 Starbucks, Pembroke Pines, a 2,740-square foot net-leased property located in Pembroke Pines, FL, according to Scott Lunine, Regional Manager of the firm’s Miami office. The asset sold for $3,450,000.

Gabriel Britti and Ronnie Issenberg, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

Ronnie Issenberg

Starbucks, Pembroke Pines is located at 9700 Pines Blvd in Pembroke Pines, FL. “The tenant recently extended the lease for an additional ten years, representing their commitment to the location,” explains Issenberg. 

“There continues to be a strong demand for South Florida, single tenant, net leased assets,” adds Britti.





CONTACTS:  

Daniella Aragon
Marketing Coordinator
Marcus & Millichap
5201 Blue Lagoon Drive
Suite 100
Miami, FL 33126
(786) 522-7000 main
(786) 454-0094 mobile
(786) 522-7010 fax
daniella.aragon@marcusmillichap.com