Tuesday, July 9, 2019

NAI Realvest Negotiates New Office Lease for Engineering Firm Relocating To The American Building in Maitland Center, FL

Jeff Bloom

ORLANDO , FL -- NAI Realvest recently closed on a multi-year lease for 15,588 square feet of Class A office space in The American Building at 1051 Winderley Place in Maitland.         

Jeff Bloom, CCIM, vice president at NAI Realvest negotiated the transaction representing the local tenant Horizon Engineering Group. 

The civil engineering company is relocating and tenant improvements will be completed on the property before they open for business in mid September. 

  Landlord MPM Holdings, Inc. was represented in the transaction by John Piekiewicz of Foundry Commercial.

John Piekiewicz

Jeff Bloom, CCIM, Vice President, NAI Realvest,

Patrick Mahoney, President / CEO, NAI Realvest,

Beth Payan, Larry Vershel Communications,

HFF closes $46.5 million sale of 200-unit multi-housing community in Morrisville, NC

Bainbridge Lake Crabtree, a 200-unit, mid-rise apartment community at 2599 Evans Road in Morrisville, NC

CHARLOTTE, NC –  Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $46.5 million sale of Bainbridge Lake Crabtree, a 200-unit, mid-rise apartment community in Morrisville, North Carolina.

HFF marketed the property on behalf of the seller, The Bainbridge Companies, LLC and its partner, Amzak Capital Management, and procured the buyer, RK Properties.
Justin Good
Bainbridge Lake Crabtree is located at 2599 Evans Road in the high-growth market of Morrisville and provides connectivity via nearby Interstate 40 to Research Triangle Park and downtown Raleigh.  

Completed in 2018, the 9.55-acre property comprises units averaging 1,015 square feet with high-end amenities, including chef-inspired kitchens with islands, stainless steel appliance, quartz countertops and white Shaker-style cabinets; combination walk-in showers and garden tubs; oversized, triple-paned windows with marble window sills; Google fiber; and Nest thermostats. 

Luxury common-area amenities include a South Beach-style pool with sun deck and tree-lined sun shelf; interior courtyard with fire pits, Edison lighting, gazebo and grilling station; pet spa and pet bark park with canine drinking fountain; exposed brick and glass-defined clubroom; and state-of-the-art fitness center with yoga studio.

The HFF team was led by managing directors Justin Good and Jeff Glenn, senior director Allan Lynch and director Caylor Mark.

Allan Lynch
“With its third purchase in the Carolinas, RK Properties has invested in an asset boasting the Bainbridge Companies pedigree in one of the fastest-growing, tech-centric metros in the country,” Good said.

“Bainbridge Lake Crabtree represents superior product in a location defined by connectivity and growth, which is evident in its performance and market reception,” Glenn added. 

Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.

About The Bainbridge Companies, LLC

The Bainbridge Companies is a leading owner, developer and manager of luxury multifamily apartment communities. 

 Founded in 1997, Bainbridge is a fully integrated family of real estate companies engaged in the development, construction, management and acquisition of residential and commercial real estate.

 Bainbridge is headquartered in Wellington, Florida, and Bethesda, Maryland, with regional offices in Raleigh, North Carolina; Orlando, Florida; Atlanta, Georgia; Denver, Colorado; and New York City. 

Jeff Glenn
 Bainbridge’s team consists of over 600 passionate professionals across its offices and portfolio.

About Amzak Capital Management

Amzak Capital Management is a highly successful asset manager and private equity investor dedicated to wealth preservation and generation.  

With an entrepreneurial heritage having being founded by a family that has successfully built, managed and exited various businesses, Amzak takes an active and flexible approach to investment management.  

The firm primarily focuses on four investment strategies: private equity, real estate, fixed income and healthcare, principally in the Americas region.

About RK Properties
Since its founding in 1976, RK Properties has purchased and managed over $1.5 billion in multifamily apartment assets.  RK Properties current portfolio includes approximately 4,000 units in the southeast and southwest. 

 The company offers multifamily replacement properties for 1031 tax deferred exchanges, as well as DST and fund investment opportunities for accredited investors who are seeking a real estate investment.

Caylor Mark
  As of this closing, RK Properties has sponsored approximately 152 private placement programs, of which 134 programs have gone full cycle. 

Bainbridge Lake Crabtree is RK Properties’ second North Carolina acquisition in two months, and its sixth acquisition in the Southeast since 2017.  The company plans to continue its expansion in the region. 


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

HFF Public Relations Specialist
(713) 852-3403

George Flynn Joins Lee & Associates Cincinnati as Managing Principal of Brokerage Services

George Flynn

Cincinnati, OH –  Lee & Associates, a nationwide leader in commercial real estate services, is pleased to announce that George Flynn has joined the company as Managing Principal, Brokerage Services. 

 George’s expertise in commercial real estate includes a diverse range of skills in tenant representation, leasing and sales, investment sales, site selection, disposition and development.

 For more than three decades, he has built strong relationships with institutional, corporate and local owners such as The Kroger Company, Macy’s, Sears Holdings, United Dairy Farmers, The Schottenstein Group, Bayer Properties, Pebb Enterprises, Supervalu, Walgreen’s and Tavern Restaurant Group.

“I am pleased to welcome George Flynn to Lee & Associates| Cincinnati as Managing Principal, Director of Brokerage," said John Rickert, principal of Lee & Associates| Cincinnati.

John Rickert

 "As our company has grown both regionally and nationally, adding George to our team provides us with significant development expertise and brokerage leadership.

"Our client base and number of assignments continue to expand in all areas of our Integrated Services business; leasing and investment sale brokerage, property management, maintenance, accounting, and construction.

"George is the perfect partner to help Lee & Associates | Cincinnati continue to expand our model and create significant wealth and unique opportunity for our clients.

(Office Building, generic, File Photo)
"George has been involved in more than $900 million worth of real estate transactions, developed more than 1.1 million square feet of retail space during his 30+ year real estate career.

"He specializes in tenant representation, leasing and sales in Ohio and Kentucky."


 Katie Heidt
Lee & Associates Cincinnati
(513) 272-6800

Mark Bustos to Open Salon at Related Companies’ 444 West 17th Street in New York City, NY

Mark Bustos

NEW YORK, NY  RIPCO Real Estate (RIPCO) announced Mark Bustos, one of Mahattan’s premier hairstylists, has signed a 1,226-square-foot, 10-year lease to open My Darling Ivy hair salon at Related Companies’ 444 West 17th Street in New York City.

 Mr. Bustos’ salon, which is set to open later this year, will be located in the space formerly occupied by Three Squares Studio, the salon that employed Mr. Bustos for seven years.

RIPCO’s Lindsay Zegans and Richard Skulnik represented Mr. Bustos and team in the transaction and were instrumental in bringing him back to his former space.

Lindsay Zegans
“When Three Squares Studio shuttered, we knew that Mark was the perfect tenant to fill the space and approached him with the opportunity," said Zegans.

"Bringing him back to 444 West 17th Street is ideal, because it enables him to open his own shop in a space that held a special meaning to him while being supported by an owner in Related who felt that another salon use was a perfect repurpose for the space." 

Prior to signing the lease for his own space, Mr. Bustos, who was in high-demand post-closing of Three Squares Studio, made house-calls and worked out of premier salons in New York City and New Jersey.

Richard Skulnik
 His passion for hairstyling was showcased in a 2018 Nike YouTube video that garnered over 100,000 views and chronicled him spending his Sundays giving haircuts to the homeless, an selfless act that was featured in numerous media outlets.

Manny Rolon
Mark’s philanthropy extends further with his Be Awesome To Somebody charity, which provides direct, hands-on, on-the-ground assistance to homeless and impoverished areas to over 11 different countries including the US.

VJ Moscaritola
“Mark is the embodiment of selflessness, hard work and extreme dedication,” said Zegans. 

“The artistic landscape of Chelsea will provide the perfect backdrop for me and my business partners, Manny Rolon and VJ Moscaritola, to open and build a successful salon,” said Bustos.

Ben Birnbaum
“Working in the same space I cut hair a year ago, and partnering up with my team whom I am blessed to be in friendship with for over 20 years, allows me to embrace my roots as a hairstylist and bring a meaningful service, founded on passion and care to the neighborhood.”

Andrew Taub
Ben Birnbaum and Andrew Taub of Newmark Grubb Knight Frank represented Related in the transaction.

John Hanlon
W: 212.868.1900 x676
M: 609.457.3049