Saturday, December 29, 2018

NAI Realvest Brokers New Office Lease for Relocating Modeling/Simulation Firm at University Court in East Orlando, FL

Mary Frances West
ORLANDO, FL --- NAI Realvest recently completed a new lease agreement for a modeling and simulation firm at University Court located at 3361 Rouse Rd. off University Blvd. in east Orlando

The tenant is relocating from Fredericksburg , Va.   

 Mary Frances West, CCIM, Vice President at NAI Realvest negotiated the transaction representing the landlord, Interchange-Fl Rouse, LLC of Daytona Beach.

 The tenant JRM Enterprises Inc. signed a multi-year lease for Suite 175 with 1,380 square feet at University Court .
University Court, 3361 Rouse Road
 East Orlando, FL
The technology firm specializes in advanced sensor phenomenology modeling and simulation and provides products and services to various industry customers and government agencies throughout the armed forces including the Defense Modeling and Simulation Office.


Mary Frances West, CCIM, Vice President NAI Realvest, 

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989

Beth Payan, Larry Vershel Communications, 407-644-4142

Marcus & Millichap Arranges $665,000 Sale of 9,014-SF Dollar General Property in Orange City, IA


1103 8th Street Southeast, Orange City, IA
ORANGE CITY, IA -– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Dollar General, a 9,014-square foot net-leased property located at 1103 8th Street Southeast in Orange City, IA, according to Ari Ravi, regional manager of the firm’s Tampa office.

The asset sold for $665,000.

Daniel Hurd
Daniel Hurd and Edward Kemp, 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 also secured and represented by  Hurd and Kemp.

 Barry A'Hearn, Broker, assisted in closing this transaction.

“We took on this exclusive listing with extremely high expectations. Our strategic marketing campaign allowed us generate eight offers in the first two weeks on market and ultimately procure a Buyer who closed at 98% of list price," Hurd said.

"This is just another excellent example of how the exclusive listing process yields the highest net proceeds for our Sellers.

"Marketing exposure, leveraging offers and vetting potential buyers is key to getting our deals to the finish line. Although interest rates and capitalization rates are on the rise, we continue to see huge demand for dollar store deals all across the country and look forward to continued success in 2019.”

Dollar General has recently executed an early extension leaving eight years remaining on a double-net lease, which allows for minimal landlord responsibilities. Additionally, there are four, five-year renewal options with rental increases in each.

Ari Ravi      

"The immediate area has experienced tremendous population growth of 35% within a one-mile radius and 11% population growth in both the three and five-mile radius.

"The site is conveniently located near several neighborhoods, Northwestern College, Orange County Municipal Airport and benefits from minimal area competition." 


Ari Ravi
Regional Manager, Tampa
(813) 387-4700

GLL completes sale of office tower on Chicago’s ‘Magnificent Mile’

444 North Michigan Office Tower, Chicago, IL

CHICAGO, IL –– GLL Real Estate Partners, a member of the Macquarie Group, has completed the sale of 444 N. Michigan, a 36-story office tower on Chicago’s ‘Magnificent Mile’ in the city’s Near North Side submarket.

Built in 1976, 444 N. Michigan totals 503,224 square feet and features a large conference center, a fitness center with showers, and secure bike storage.

Chicago's Magnificent Mile at Holiday Time

GLL purchased the building in 2006 and, during its ownership, upgraded the building’s mechanical systems and renovated the entrance and lobby. GLL also added new lobby retail amenities including Starbucks.

GLL Real Estate Partners is the real estate equity investment platform for Macquarie Infrastructure and Real Assets, a division of the Macquarie Group.

 A globally-active real estate fund manager and investment advisor headquartered in Munich, Germany, GLL operates 17 offices across the US, Europe, Asia, and Australia.

Starbucks on Magnificent Mile, Chicago, IL
  The group currently manages USD 8.4 billion, including more than USD 4 billion in the U.S. GLL employs varying commercial property strategies serving an investor group that includes pension funds, insurance companies and sovereign entities.


Andrew Neilly