Friday, May 10, 2019

Levin Johnston Directs $15.5 Million Land Sale in Fremont, CA

The 2.75-acre land parcel, sold for $15.5 million,
 is located at 3515 Walnut Avenue. Fremont, CA
FREMONT, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, announced the $15.5 million sale of a 2.75-acre land parcel in Fremont, California.

This transaction represents a rare opportunity to acquire a property in the Downtown District of Fremont, one of the fastest-growing cities in Northern California, according to Adam Levin, Executive Managing Director, and Robert Johnston, Senior Managing Director of Levin Johnston.

Adam Levin
Levin Johnston represented the seller, a private high net worth investor, as well as the buyer, a local multifamily developer, in the transaction.

“Fremont’s Downtown District is rapidly growing and with the addition of quality housing units and future new street retail – these improvements will only spur the underutilized area into a more sustainable and vibrant district,” explains Levin. 

“We strategically identified a buyer with the expertise to develop the land into high-density multifamily housing, which will deliver tremendous value to the seller as well as the surrounding community.”

The land parcel is located in close proximity to transportation hubs and major highways including Interstate 880 and 680, which provide direct access to the entire Bay Area.

Robert Johnston
The buyer plans to develop 275 market-rate apartments on the land which will encourage the city’s longtime effort to develop the area into a bustling downtown. 

The apartment complex will feature 2,245 square feet of ground floor retail and a six-story parking garage, according to Johnston.

“Downtown Fremont is in the midst of a redevelopment boom that will make it a high-quality destination for residents and visitors for years to come,” says Johnston. 

“During this transformation, we will see Downtown Fremont become a social epicenter that encourages economic development, promotes business expansion and employment opportunities for the community, making it a prime location for multifamily investment for the long term.”


Alex Caswell / Jenn Quader 
Brower Group
(949) 438-6262

Marcus & Millichap Arranges $3.3 Million Sale of 7.999-SF, Net Leased Hooters Building in San Angelo, TX

SAN ANGELO, TX -– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Hooters, a 7,999-square foot net-leased property located in San Angelo, TX, according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $3,333,333.

Moe Derbala-Khalifa
  The buyer, an individual/personal trust, was secured and represented by Moe Derbala-Khalifa, an investment specialist in Marcus & Millichap’s Tampa office.  Broker, Tim Speck, assisted in closing this transaction.

Tim Speck

Hooters is located at 4384 Sherwood Way in San Angelo, TX and features Class A Construction in a prime location.  The property is located two-miles from Angelo State University with enrollment of over 10,000 students.


Whitney Davis
Marketing Coordinator
Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
(813) 387-4700 main
(813) 387-4743 direct
(813) 387-4710 fax

Daum Commercial Helps National Electrical Distributor Expand Phoenix, AZ Presence with 51,000-SF Lease

51,105-SF Industrial warehouse, 1717 East Rairdan Lane,
Central City Submarket, Phoenix, AZ

PHOENIX,  AZ – DAUM Commercial Real Estate Services has completed the 10-year lease of a 51,105 square-foot industrial warehouse located within the Central City submarket of Phoenix, Arizona, on behalf of the lessee, Consolidated ElectricalDistributors (CED).

The new tenant, one of the country’s largest electrical supply distribution networks, is relocating and expanding from a 20,000 square-foot property in Phoenix after nearly 30 years of occupancy, according to Sebastian Sica, an Associate at DAUM, who completed the lease alongside DAUM Executive Vice President Rich Sica. 

Sebastion Sica
“This new location will act as a significant Southwest hub for CED, which has grown to encompass more than 600 offices across 47 states through its 60-year history,” explains Sebastian. 

“In addition to relocating to a building that is approximately 30,000 square feet larger its previous location, the firm plans to create 40 to 50 new jobs locally.”

According to Sebastian, the private landlord previously operated a moving and logistics business at the location and recognized the value of retaining the asset as an investment property within the growing Phoenix industrial market after closing the company. 

The landlord also owns the four acres surrounding the warehouse, offering the potential for further expansion for CED or future tenants.

Rich Sica
Rich Sica adds: “We’ve maintained a strong relationship with our Client for more than 15 years, previously securing locations for the firm throughout the Phoenix area as well as across North America. 

"Our deep knowledge of the industrial market and CED’s business model and operations were instrumental to identifying this well-positioned asset in a prime location, adjacent to the Interstate 17 and Interstate 10 Freeways, and securing a lease at a competitive price.” 

DAUM also worked closely with the tenant, landlord, and contractors to upgrade the asset, originally constructed in 1986, and optimize it for CED’s operations, notes Rich.


Micaela Fehrenbach / Elisabeth Manville
Brower Group 
(949) 438-6262

Blackton to Provide Flooring at Evergreen Community in Kissimmee, FL --Contracts worth $4.8 Million From D.R. Horton alone in 2019

Michael 'Micky' Blackton

Kissimmee, FL --- Blackton Inc., the Orlando firm that ranks as one of Central Florida’s largest distributors of materials to homebuilders, has been selected as the supplier of $600,000 in flooring products at Evergreen a D.R Horton community coming soon in Kissimmee .

Michael “Micky” Blackton, chief executive officer, said his firm will provide flooring materials in the construction of 116 single-family homes at Evergreen located on Reaves Road , off of Canoe Creek Road near the Florida Turnpike.

  It’s the fourth project Blackton has received within a few months from the Dallas-based homebuilder.

Since the start of this year, D.R. Horton has also awarded Blackton flooring contracts worth $3 million for:

  • 590 single-family homes at Victoria Oaks in DeLand, 
  • $500,000 for 91 single-family homes at Orchid Grove in Haines City 
  • $750,000 for 150 homes being built on scattered lots throughout Osceola County .
Blackton, Inc., a family owned business headquartered on Alden St. near Ivanhoe Row north of downtown Orlando , has been supplying the home building industry from Jacksonville to Tampa for 65 years.


Michael “Micky” Blackton, CEO, Blackton, Inc.

Beth Payan, Larry Vershel Communications

HFF secures $46 million financing for PARC3400 in Davie, FL

PARC3400, a 260-unit, Class A multi-housing property in Davie, FL

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has secured $45.756 million in financing for PARC3400, a 260-unit, Class A multi-housing property in Davie, Florida.

HFF worked on behalf of Park Partners Residential, a joint venture between Rosemurgy Properties and Giles Capital Group, to arrange the fixed-rate loan. 

Alex Rosemurgy
The loan, which closed on April 302019, will also be serviced by HFF.  Loan proceeds were used to refinance the construction financing that HFF arranged for the development of the property in 2016.

“We are happy to offer residents an exceptionally designed project in the epicenter of Broward County that provides a luxury living experience to all of our residents,” said Alex Rosemurgy, co- managing partner of Park Partners Residential. 

“Beyond the location, PARC3400 offers a new level of convenience, with unique building amenities, including private office spaces, a state-of-the-art, 3,500-square-foot fitness center, dog washes and parks, as well as a resort-style pool outdoor area.”

Elliott Throne
PARC3400 offers a truly central location in South Florida. It is situated near the southwest intersection of Interstate 595 and the Florida Turnpike on an eight-acre site at 3400 Davie Road and provides residents excellent access to nearby universities and numerous surrounding retailers. 

The property is adjacent to Nova Southeastern University and provides quick access to Miami and Palm Beach.

Completed in 2017, the property features a resort setting with one-, two- and three-bedroom units equipped with granite countertops, stainless steel appliances, modern lighting, walk-in closets, in-unit washers and dryers, ceiling fans, impact-resistant windows and sliding doors, and private balconies and patios. 

Common area amenities include a resort-style swimming pool, pavilion, clubhouse, 84 bicycle parking spaces and car charging stations.
Jesse Wright

The HFF debt placement team was led by managing director Elliott Throne and director Jesse Wright.

“The owners were able to lock in an aggressive financing that will provide them advantageous, long-term cashflow as the asset continues to further strengthen in the years ahead,” Throne stated.  “The luxurious amenities offered in a location that is as central as it gets made this a deal that all lenders wanted on their books.”


HFF Managing Director
(305) 421-6549

HFF Director
(786) 532-2347

HFF Public Relations Specialist
(713) 852-3403

Levy Public Relations and Events
(305) 764-3370 x 201

New Company Facilitates Lending as a Commercial Real Estate Investment Strategy

Ira Zlotowitz

HOWELL, NJ, May 10, 2019 -- The founder of one of America’s largest commercial real estate financing firms has launched a new, separate company that educates the public about the power of lending as a pathway for commercial real estate investment – and then helps individuals become actual lenders.

Ira Zlotowitz, founder and president of Eastern Union, which this month marked its 18-year anniversary, launched the new firm, The Ira Group.

Eastern Union, which continues to be led by Mr. Zlotowitz, closed a total of $12 billion in debt and equity financing over the past three years.

To introduce The Ira Group to the marketplace, Mr. Zlotowitz will personally host a 60-minute seminar that educates attendees about the highly viable option of becoming a lender, and spells out the specific steps participants can take to join the ranks of syndicated lenders at various levels of risk.  

He will present the seminar on Wednesday night, May 29 in Lakewood, NJ and on Wednesday night, June 5 in Israel.

Participants may attend in person, or they may take part in an interactive webinar format from any location via streaming. Interested parties can register for either seminar by visiting The Ira Group.


For more information about The Ira Group, please contact Aaron Eller 
at 732-719-5200 or at   
Steve Vitoff
The Ira Group

Sean Kerr Joins NAI Realvest | Charles Wayne Commercial

Sean Kerr

DAYTONA BEACH, FL and ORLANDO, FL --- NAI Realvest | Charles Wayne Commercial announced that Sean Kerr, a commercial real estate and international business professional, has joined the firm as Sales Associate.    
Ted Lightman, a principal of the firm, said Kerr has more than six years of experience as a full service commercial real estate agent, including transactions involving investment, multi-family, retail, office, and industrial properties. He was formerly with KW Commercial Florida Partners and Prudential Commercial Real Estate.

After 22 years of service in Australia and the UK as a director with Red Roo Group, LLC, a commercial equipment manufacturer, Kerr moved to Daytona Beach where he earned an MBA from Embry-Riddle Aeronautical University prior to starting his career in commercial real estate.

“We are delighted to have Sean on board. He is an experienced professional, with a solid base of contacts and transactional experience,” Lightman said. 

Ted Lightman

 “NAI Realvest | Charles Wayne’s mission is to provide clients with local expertise, institutional quality resources, and results-driven service.  Sean’s approach fits perfectly with this mission and complements our team.”

Working out of the firm’s Daytona Beach offices, Kerr will continue to focus on commercial property sales and leasing across all commercial property types, with a particular focus on land, office, and industrial assets.  


Ted Lightman, NAI Realvest | Charles Wayne Commercial

Patrick Mahoney, NAI Realvest | Charles Wayne Commercial

Beth Payan, Larry Vershel Communications Inc.

Hines and Columbia Development Group Partner With USAA Real EState to Build Fenton, a Mixed-Use District in North Carolina

Hailey Ghalib

 CARY, NC – Hines, the international real estate firm, along with codeveloper Columbia Development Group, LLC and USAA Real Estate,  announced Fenton, a new 69-acre mixed-use district in the Cary submarket of Raleigh/Durham, North Carolina.

The development will offer 2.5 million square feet of retail, office, restaurant, hotel and multifamily.

Abbitt Goodwin
The initial phase will consist of a 99,000-square-foot Wegmans store; 263,000 square feet of specialty and experiential retail, including a movie theater and food hall; a 146,400-square-foot loft office; 350 apartment units; and a 175-key hotel.

Fenton will be located along Cary Town Boulevard at I-40, Town of Cary, Wake County, North Carolina, adjacent to the Wake Med Soccer Park.

 The highly-amenitized development is proximate to the regional job engine, the Research Triangle Park, as well as many of the area’s best residential neighborhoods and public and private schools.

“Fenton will create a unique, compel “We are thrilled to have been chosen as the home for Fenton and can’t wait for all the jobs and opportunities it will bring to our community for decades to come,” said Mayor of Cary Harold Weinbrecht.

Harold Weinbrecht
Mayor, Cary, NC

Fenton’s cosmopolitan mix of shopping, dining and entertainment has attracted notable tenants that include:

Crawford Brothers Steakhouse, a new concept from fivetime James Beard Award semifinalist Scott Crawford, Superica Tex-Mex by nationallyrenowned restaurateur Ford Fry and Honeysuckle Gelato.

“On behalf of the Columbia Development team, we would like to extend our deepest gratitude to the State of North Carolina, the State Property Office, the Town of Cary, Wegmans, and entitlement team of Parker Poe Adams & Bernstein, McAdams, Drake Commercial Properties and Wakefield Beasley & Associates for their tireless efforts in assisting us to bring this project to fruition," said Abbitt Goodwin, principal with Columbia Development.

"We are humbled and grateful to have attracted world class partners in Hines and USAA Real Estate to take the next steps in creating a region-shaping project for generations to enjoy,”

Edmund Donaldson
“Likewise, we are enthusiastic about launching this partnership with Hines and Columbia Development to build this exciting mixed-use district in the Town of Cary,” stated Hailey Ghalib, executive managing director for USAA Real Estate.

Edmund Donaldson, executive managing director for USAA Real Estate also commented:  “This transaction reinforces USAA Real Estate’s build-to-core strategy of investing in Class A, mixed-use projects in high-demand areas.”

HFF, one of the largest and most successful commercial real estate capital intermediaries, was engaged by Hines and Columbia Development to raise capital for the project, which is expected to break ground in the summer of 2019 with an opening in the fall of 2021.


George Lancaster,