Friday, March 15, 2019

NAI Realvest Signs National Auto Supply Superstore at New Opening Retail / Flex Development in Airport Commerce Center, Orlando, FL

 
Michael Heidrich

Orlando, FL --- NAI Realvest recently signed the first new tenant, a fast-growing North American franchise,  in a new two-building warehouse complex totaling 71,675 square feet at 8119 and 8123 S. Orange Ave. off SR 528 and Sand Lake Rd. in Airport Commerce Center.    

Michael Heidrich, principal at NAI Realvest who leases and manages the new property represents landlord, Orange Avenue Properties, LLC an affiliate of MAS Investment Group, the Ohio-based developer who is also the owner/developer of 8350 Parkline Blvd. in the Airport Commerce Center .  NAI Realvest also leases and manages that building.

Pristine & Clean, Inc. leased suite 100 , an end unit with 1,863 square feet in the 8119 S. Orange Ave. building for its Detail Garage Orlando, an auto detailing supplies superstore.  This retail/flex building fronts S. Orange Ave. and has 12' x 12' overhead doors, 68 parking spaces and is the seventh Florida location for the national car care franchise.  

Airport Commerce Center
South Orlando, FL
The 8119 S. Orange Ave. building consists of 20,475 square feet and up to 11 units for lease at the rate of $16.25/ SF NNN.    The 8123 S. Orange Ave. building  has 51,200 square feet of warehouse space and offers up to six 8,533 square foot bays at the rate of $8.00/ SF NNN including two 10' x 14' dock high overhead doors per bay, 60' concrete pads and 86 parking spaces.  

“Because of its high profile location, this retail/flex and warehouse space complex will fill up quickly with retailers, distributors, manufacturers, suppliers and vendors. It’s a rapidly growing area,” Heidrich said.   

Both buildings offer easy access to all of Orlando including OIA, Orange County Convention Center , tourist attractions and downtown Orlando via Parkline Blvd. , Orange Ave., McCoy/Sand Lake Rd. and SR 528.

CONTACTS:

Michael Heidrich, Principal, NAI Realvest, 
407-875-9989 mheidrich@realvest.com

Patrick Mahoney, President / CEO, NAI Realvest, 
407-875-9989 pmahoney@realvest.com

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

ATTOM Data Solutions Ranks Best Counties in U.S. for Buying Single Family Rentals in 2019

  
Todd Teta
IRVINE, CA -- ATTOM Data Solutions, curator of the nation’s premier property database, released its Q1 2019 Single Family Rental Market report, which ranks the best U.S. markets for buying single family rental properties in 2019.

The report analyzed single family rental returns in 432 U.S. counties each with a population of at least 100,000 and sufficient rental and home price data.

Rental data was from the U.S. Department of Housing and Urban Development, and home price data was from publicly recorded sales deed data collected and licensed by ATTOM Data Solutions.


The average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 432 counties was 8.8 percent for 2019, up from an average of 8.7 percent in 2018.

“Buying single-family homes to rent them out is a better deal for investors so far this year, than it was at the same time in 2018, as profit margins are rising in a majority of counties across the United States,” said Todd Teta, chief product officer at ATTOM Data Solutions.

“Last year, at this time, investors were seeing returns drop in three-quarters of the counties that were analyzed. So far this year, those margins are up in six out of every 10 counties analyzed.




 "But despite the generally rosier picture, profits vary widely and investing in the single-family home rental market is not always a great move. The typical bottom-line gain from county to county this year has ranged from as high as 29 percent to as little as 3 percent.”

Counties in Baltimore, Macon, Vineland, Rockford, Detroit post highest rental returns
Counties with the highest potential annual gross rental yields for 2019 were Baltimore City, Maryland (24.5 percent); Bibb County, Georgia in the Macon metro area (21.9 percent); Cumberland, New Jersey, in the Vineland-Bridgeton metro area (21.2 percent); Winnebago, Illinois, in the Rockford metro area (17.1 percent); and Wayne County, Michigan in the Detroit metro area (17.1 percent).



Along with Wayne County, Michigan, the highest potential annual gross rental yields among counties with a population of at least 1 million were Cuyahoga County (Cleveland), Ohio (12.0 percent); Allegheny County, Pennsylvania (10.9 percent); Cook County (Chicago), Illinois (9.7 percent); and Philadelphia County, Pennsylvania (9.4 percent).


Rental returns increase from a year ago in over half of the counties analyzed
Potential annual gross rental yields for 2019 increased compared to 2018 in 248 of the 432 counties analyzed in the report (57 percent) led by Buncombe County, North Carolina in the Asheville metro area (up 29.1 percent); Santa Clara County, California in the San Jose metro area (up 24.8 percent); Henderson County, North Carolina, in the Asheville metro area (up 24.6 percent); Erie County, Pennsylvania (up 24.3 percent); and Muscogee County, Georgia in the Columbus metro area (up 23.5 percent).



Along with Santa Clara County, California, the biggest increase in potential annual gross rental yields for 2019 compared to 2018 among counties with a population of at least 1 million were Sacramento County, California (up 12.2 percent); Orange County (Los Angeles), California (up 10.9 percent); Dallas County, Texas (up 10.8 percent); and Kings County (Brooklyn), New York (up 10.6 percent).



Counties in San Francisco, San Jose and New York post lowest rental returns

Counties with the lowest potential annual gross rental yields for 2019 were San Mateo County, California, in the San Francisco metro area (3.4 percent); San Francisco County, California (3.7 percent); Marin County, California, also in the San Francisco metro area (4.0 percent); Santa Clara, California, in the San Jose metro area (4.2 percent); and Kings County (Brooklyn), New York (4.3 percent).


Along with Santa Clara County, California and Kings County, New York, the lowest potential annual gross rental yields among counties with a population of at least 1 million were in Fairfax County, (Washington, D.C. metro area) Virginia (4.7 percent); Queens County, New York (4.8 percent); Alameda County (San Francisco metro area), California (4.9 percent); and Orange County (Los Angeles metro area), California (5.0 percent).


Rents rising faster than wages in 55 percent of markets

Rents rose faster than wages in 236 of the 432 counties analyzed (55 percent), including Los Angeles County, California; Harris County (Houston), Texas; Maricopa County (Phoenix), Arizona; San Diego County, California; and Orange County, California.

Wages rose faster than rents in 196 of the 432 counties analyzed (45 percent), including Cook County (Chicago), Illinois; Kings County, New York; Queens County, New York; Clark County (Las Vegas), Nevada; and Tarrant County (Dallas-Fort Worth), Texas.

Best SFR growth markets in Cleveland, Columbia, Pittsburgh, Rockford, Atlanta
The report identified 98 “SFR Growth” counties where average wages grew over the past year and with potential 2019 annual gross rental yields of 10 percent or higher.



The 98 SFR Growth markets included Wayne County (Detroit), Michigan; Cuyahoga County (Cleveland), Ohio; Allegheny County (Pittsburgh), Pennsylvania; Milwaukee County, Wisconsin and Marion County (Indianapolis), Indiana.

ATTOM Data Solutions also incorporated weekly wage data from the Bureau of Labor Statistics and demographic data from the U.S. Census into the report.

CONTACTS:

Christine Stricker
949.748.8428

Data and Report Licensing:
949.502.8313


NAIOP South Florida Announces Awards of Excellence Winners


Jules R. Morgan        
(photos courtesy of NAIOP South Florida)

FORT LAUDERDALE, FL (March 15, 2019) – NAIOP South Florida, the Commercial Real Estate Development Association, has announced the winners of the Awards of Excellence, which recognize individuals and organizations whose achievements have contributed to the local commercial real estate industry, benefited the regional business environment and facilitated economic growth in South Florida.

“This year’s Awards of Excellence has to be our most competitive, inspiring and well-attended yet,” said NAIOP South Florida Executive Director Jules R. Morgan.


                                                   Lauren Pace
“Our esteemed panel of judges was faced with the near impossible task of choosing the winners from some of the most impactful and economically significant deals in 2018, some of which set all-time records.”

Maridee Bell
“Strong market fundamentals were reflected in the quality of the transactions and the achievements of our members considered for recognition this year,” added Awards of Excellence Chair and NAIOP South Florida President-Elect Stephanie Rodriguez, vice president of Duke Realty.

Stephanie Rodriguez

“This event is so important because it allows our members to celebrate their individual successes and those of their peers, fortifying the foundation of our collaborative and economically significant commercial real estate community.”  

Mary Harris
The Awards of Excellence winners are:

Land Sale of the Year: Curley Notre Dame Development Site, Avison Young

Office Sale of the Year Over $50 Million: 1111 Brickell, CBRE

Office Sale of the Year Under $50: Plantation Corporate Center, Marcus & Millichap

Douglas Mandel

Industrial Sale of the Year: Countyline Corporate Park, HFF

Hotel Sale of the Year: Margaritaville Hollywood Beach Resort, CBRE

Industrial Lease Transaction of the Year: Postal Center International Lease, CBRE and Cushman & Wakefield

Tyler S. Kuhlman

Office Lease Transaction of the Year: The Main Las Olas Akerman Lease, Stiles

Economic Impact Deal of the Year: Modernizing Medicine, JLL

Industrial Broker Team of the Year: Cushman & Wakefield team of M. Etner, R. Etner, U. Kauhi, M. McAllister, C. Metzger, J. Miller, A. Talbot and C. Thomson

Harry Tangalakis

Capital Markets Broker Team of the Year: CBRE team of J. Chick, A. Chilgren, A. Julian, C. Lee, J. Lobon, M. Minaya, T. Ploshnick and R. Rose

Office Broker Team of the Year: Blanca Commercial Real Estate team of T. Blanca, A. del Corral, F. Eternod, J. Guitar, D. Linares, P. Marchese, M. Nathanson and J. Ruiz

Broker of the Year: Douglas Mandel of Marcus & Millichap

Rookie of the Year: Tyler Kuhlman of Marcus & Millichap

NAIOP South Florida Member of the Year: Brian DePotter of FirstPointe Advisors, LLC

Alice Jackson

Project of the Year: MiamiCentral Office Buildings 2 and 3, Blanca Commercial Real Estate

Developer of the Year: Bridge Development Partners

Iconic New Project of the Year: Panorama Tower, Florida East Coast Realty

In an inspired toast, NAIOP South Florida presented the Lifetime Achievement Award to CBRE Senior Vice President Harry Tangalakis. With a commercial real estate career spanning more than 30 years, Tangalakis’s reputation precedes him.

Anthony Fasano
 His countless successes and contributions to NAIOP South Florida, the community and the greater commercial real estate industry warrant the same distinction awarded to Edmund Ansin, Armando Codina, Doug Eagon, Alice Jackson and Terry Stiles among others.

“Our winners and finalists all deserve recognition,” Morgan added. “Their hard work and many achievements continue to propel Florida’s overall economy through a $19.3 billion commercial real estate sector, which puts more than 155,000 Floridians to work every day.”

For more information about the Awards of Excellence and NAIOP South Florida, visit www.naiopsfl.org.

Terry Stiles
About NAIOP South Florida

NAIOP South Florida is the largest chapter of NAIOP in the state. With more than 350 members representing constituents in Miami-Dade, Broward, Palm Beach, Martin and St. Lucie counties, the chapter is the leading commercial real estate development organization in the region.

Brian DePotter
NAIOP supports commercial real estate professionals with advocacy, education and business opportunities and connects its members through a powerful North American network. For more information, visit naiopsfl.org.

About NAIOP

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 19,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy.

Susan Imbrigiotta
CONTACT:

Lexi Robinson
954-776-1999, ext. 255