Northeast Private Client Group Represents Seller Exclusively in $1.9 Million Sale of Southbury, CT Retail Center

David Almeida

 BRIDGEPORT, CT – Investment sales broker Northeast Private Client Group has announced the sale of Southford Center, a multi-tenant mixed-use property located at 1481 Southford Road in Southbury, CT.

 David Almeida, a senior associate in the firm’s Bridgeport office, represented the seller exclusively in the $1,900,000 transaction, which closed on October 16. 

“The successful completion of this sale is yet another positive indication of the strong demand for mixed-use properties in suburban markets,” said Almeida.  “We were able to create tremendous competition among qualified buyers to acquire this asset.”

Located at the intersection of Route 67 and Route 188 in Southbury, CT, Southford Center is comprised of seven retail storefronts and four apartment units for a total of 14,000 rentable square feet. The property was built in 1988 and is situated on 4.60 acres of B-1B zoned land.

Bradley Balletto

The seller, Southport Holdings LLC of Trumbull, CT, sold the asset as a shift in strategy towards private real estate lending.

 The buyer, a private investor from Oxford, CT, was sourced by Bradley Balletto, regional manager of Northeast Private Client Group.  

 The buyer acquired the property at price equivalent to $132 per square foot, a 9.0% capitalization rate on actual net operating income.

“This transaction clearly played to the strengths of our platform,” said Edward Jordan, JD, CCIM, managing director of Northeast Private Client Group. 

 “With offices throughout the Northeastern U.S., we leveraged our relationships to source a well-qualified buyer for this desirable mixed-use asset.”

For a complete copy of the company’s news release, please contact: 

 Randy Savicky

Strategy+Communications

(203) 226-6156

randy@strategypluscommunications.com

NAI Realvest negotiates $1.01 Million Sale of Longwood, FL Office Building

Kristen Kemp

ORLANDO, FL – NAI Realvest negotiated the sale of the 16,000 square foot office building at 1920 Boothe Circle in Longwood for $1,010,000.00. 

Michael Heidrich, principal at the firm, and associate Kristen Kemp negotiated the sale representing the seller, Red Boothe Circle Holdings, LLC based in Newport Beach, Calif.   

SFG Properties, LLC of Longwood purchased the 17-year-old office building which was 66 percent occupied at the time of the sale.

For a complete copy of the company’s news release, please contact: 

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

Voit Selected to Manage and Reposition Two Million-SF Industrial Portfolio in Reno, NV

Rob Cord

RENO, NV – The Reno office of Voit Real Estate Services has been selected by  Northwestern Mutual to provide property management and repositioning services for two portfolios totaling more than two million square feet in Reno, Nev. 

Voit was awarded the contract after a competitive search conducted by the property owner, according to Rob Cord, Managing Director of Voit Real Estate Services.

“It is simple, today’s owners are seeking a lot more than complex analysis, reporting, in-house IT services, systems integration and banking relationships,” explains Cord. 

“They need managers to perform; managers who are able to do what they commit to do and deliver the vision for the future.”

 Cord continues, “At Voit, we act as a surrogate owner in our approach to third-party management and combine a full spectrum of services that allow us to make adjustments and advise ownership on what needs to take place to maximize an investment’s performance.”

Carole Brill

The Reno portfolio is comprised of the 1.3 million square-foot Sparks Industrial Portfolio, which encompasses 13 buildings and is currently 89 percent occupied; as well as the 719,419 square-foot South Center Industrial Park, made up of two buildings that are currently 98 percent occupied.

According to Voit, the portfolio is being repositioned to create a sense-of-place and managed to build a community with in the park’s tenants with exterior and vacant suite improvements, which will make the properties more competitive within their various submarkets. 

The improvements, which are well underway, include paving, a full redesign of the exterior of each building, including new paint, signage, and new landscaping throughout.

Voit’s Reno Real Estate Management Services team will be led by Carole Brill, Senior Real Estate Manager, and Ross Tolbert, Director of Operations. Voit will be working closely in partnership with Mike Nevis of NAI Alliance, who is managing the leasing of the portfolio.

“In the first 30 days we met with each tenant in order to ensure their individual needs were being met,” notes Cord.  “As we communicate with each tenant, we work toward the primary goal of creating the most beneficial place for their business looking into the next decade.”

Ross Tolbert

Cord notes that the portfolio repositioning is already underway.  The project work-out facility is being renovated, the park areas are being revived, and drive-by security has commenced, ensuring the safety of tenants and their equipment, which together begin to build the sense-of-place for our tenants, according to Cord.

According to Cord, Voit’s new assignment is well-aligned with an increasing trend of tenant demand in Reno.

“Reno continues to position itself as a growing regional industrial and warehouse market with excellent potential for future development,” says Cord. 

“For example, Nevada recently beat out a five state bidding to bring Tesla Motor’s gigafactory business to this market.”

Tesla will be building a five million square-foot factory to produce its vehicle batteries and charging stations, all of which will be used throughout the U.S. and various international locations, according to Cord.

  

For more information on these properties, call Voit’s Reno office at (775) 356-5300.

For a complete copy of the company’s news release, please contact:

Jenn Quader or Amanda Brenner

Brower, Miller & Cole

(949) 955-7940

abrenner@browermillercole.com

BKM Capital Partners Announces Three Multi-Tenant Industrial Park Acquisitions While Raising $100 Million Comingled Fund

Brian Malliet

IRVINE, CA – BKM Capital Partners has acquired three multi-tenant industrial parks with a combined capitalization of $42.8 million on behalf of BKM Industrial Value Fund I, LP, according to Brian Malliet, CEO and Co-Founder of BKM.

These are the first three assets to be included in the comingled fund, which targets final close in March 2015, and intends to acquire approximately $300 million of assets in the product type by the end of next year.

Formed in 2013 as the real estate arm of The Niru Group, BKM Capital Partners is a fund manager and operator platform targeting value-add, multi-tenant industrial real estate in the Western United States. 

Nima Taghavi

“We are active on both the acquisition and capital raising fronts as we near the close of a productive 2014,” Malliet notes.

“I believe we are the only fund manager in market specifically targeting value-add multi-tenant industrial properties in this geography. 

"As such, we are excited at the opportunity to assemble within the fund an optimal portfolio of assets precisely fitting our investment criteria, starting with these three.”

The first three acquisitions are Hayden Island Business Park in Portland, Oregon; Patrick Commerce Center in Las Vegas, Nevada; and Black Canyon Business Park in Phoenix, Arizona.

Additional information is available at www.bkmcapitalpartners.com.  Inquiries can be answered directly by Brett Turner, Director of Acquisitions, at bturner@bkmcapitalpartners.com, or Charlie Ittner, Director of Investor Relations, at cittner@bkmcapitalpartners.com.  BKM Capital Partners is the real estate arm of The Niru Group.

Black Canyon Business Park, Phoenix, AZ

Founded by Nima Taghavi, The Niru Group is a private investment management firm focused on opportunistic direct investment into real estate, private businesses, and philanthropic organizations. 

  The company is known for combining operating expertise and entrepreneurial know-how to generate superior results in business and real estate acquisitions.

Additional information on the Niru Group is available at www.thenirugroup.com.

For a complete copy of the company’s news release, please contact:

Jenn Quader or Amanda Brenner

Brower, Miller & Cole

(949) 955-7940

abrenner@browermillercole.com

HFF closes sale of and arranges financing for suburban Atlanta retail center

Richard Reid

ATLANTA, GA – HFF announced it has closed the sale of and arranged acquisition financing for Conyers Crossroads, a 465,993-square-foot retail center in Conyers, Georgia.

               HFF marketed the portfolio on behalf of the seller, institutional investors advised by J.P. Morgan Asset Management.  Hendon Properties and a confidential joint venture partner purchased the offering for an undisclosed amount.

 Separately, HFF’s debt placement team secured acquisition financing on behalf of the buyer through a global commercial and investment bank.

               Conyers Crossroads is located north of Interstate 20 at 1454 Dogwood Drive SE, less than 25 miles east of downtown Atlanta. 

  Completed in two phases in 2000 and 2005, the center is 86 percent leased to a variety of national and regional tenants, including Kohl’s, Carmike Cinemas, Belk, TJ Maxx , Michaels, Old Navy, Pier 1 Imports and Shoe Carnival.

Jim Hamilton

               The HFF investment sales team representing the seller was led by managing directors Richard Reid and Jim Hamilton and real estate analysts Mike Allison and Pete Anastasi. 

HFF’s debt placement team was led by director Chip Sykes.

“Conyers Crossroads attracted a significant amount of investor interest due to the property’s dominant anchor tenant line up, scale, interstate visibility and access and upside potential,” Reid said.

J.P. Morgan Asset Management – Global Real Assets has more than $79 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia, as of June 30, 2014. 

With a 40-plus-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure, maritime/transport and energy strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.

Conyers Crossroads, Conyers, GA

Hendon Properties is a full-service development, brokerage and management organization specializing in retail-oriented real estate.  

They focus on community and regional shopping centers, malls and credit tenant build-to-suit developments.  

Their team manages all aspects of brokerage and development including site selection, project budgeting, due diligence, engineering, architecture, construction and leasing.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes sale of north Houston, TX flex facility

Rusty Tamlyn

HOUSTON, TX – HFF announced it has closed the sale of Cypress Business Center, a 103,979-square-foot flex distribution facility in Houston, Texas.

HFF marketed the property on behalf of the seller, Cypressbrook Company.  Industry Capital, on behalf of an affiliated fund, purchased the center for an undisclosed amount free and clear of existing debt.

Cypress Business Center is located just off Interstate 45 and Cypress Creek Parkway (FM 1960) at 301-305 Wells Fargo Drive in north Houston, approximately 12 miles from George Bush Intercontinental Airport. 

The property is 74 percent leased to AutoZone, DKNXT, DynaQual, Charis Bible College, Premiere Safeguard and Speedy Printing & Office Supplies.

The HFF investment sales team was led by senior managing director Rusty Tamlyn and real estate analyst John Indelli.

“We had a nice run with this asset and were very pleased with Industry Capital’s execution on this sell,” said Cypressbrook managing partner Michael Novelli. 

Michael Novelli

“They had a thoughtful and thorough due diligence team that closed the deal in less than a month after going under contract.  We wish them all the best with the project.”

Founded in 1996, Cypressbrook Company is a real estate brokerage, management, and development company based in Houston, Texas.

Currently, the company has three independent operating platforms: Cypressbrook Company focuses on various traditional commercial products, Ascension Commercial Real Estate that focuses on multifamily assets and Oakbrook Builders that is design build contractor of senior living facilities.

Senior leadership of the company has more than 75 years of development experience having worked early in their careers with nationally known developers like Trammell Crow Company and Camden Property Trust

Industry Capital (IC) is a San Francisco-based private equity firm focused on investing in real assets.  IC Berkeley Partners is IC’s vertically-integrated real estate operating company with more than 65 employees specializing in the investment and management of multi-tenant industrial real estate.

Cypress Business Center, Houston, TX

 The company currently owns and operates more than 3.5 million square feet of industrial real estate and is an active investor in multiple markets across the country.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes $6.1 million sale of Crowne Plaza Pittsburgh South in Pittsburgh, PA

Danny Meikleham

BOSTON, MA - HFF announced it has closed the sale of the Crowne Plaza Pittsburgh South, a 179-room hotel across from the South Hills Village Mall in Pittsburgh, Pennsylvania.

               HFF marketed the property exclusively on behalf of the SageCrest Liquidating Trust, represented by its liquidating trustee, Jack D. Huber, and portfolio director Christopher T. Brown, both managing directors of SOLIC Capital, LLC.  

Oxford Development Corporation purchased the hotel unencumbered with management for $6.1 million.

               The Crowne Plaza Pittsburgh South is situated on a 5.4-acre site at 164 Fort Couch Road in Pittsburgh’s South Hills area, which is 10 miles from downtown. 

This places the hotel near demand drivers such as Southpointe Office Park as well as leisure destinations including PNC Park, Station Square, Heinz Field and Rivers Casino, among others.

Mark Popovich

 The property has 13 suites and 13 extended stay suites in addition to the guest rooms. Hotel amenities include an outdoor pool, fitness center and business center.  The hotel also features 15,000 square feet of meeting space throughout 10 rooms. 

               The HFF investment sales team representing the seller was led by managing director Denny Meikleham, senior managing director Mark Popovich and senior real estate analyst Alan Suzuki.

               SOLIC Capital, LLC provides financial advisory, principal investing and distressed asset management for middle-market companies.  www.soliccapital.com

For 50 years, Oxford Development Company has stood at the forefront of the marketplace as a developer and full service commercial real estate provider with experience in the local, regional and national marketplace.

Jack D. Huber

  Its portfolio in the specialty asset classes of healthcare, and sports and entertainment projects alone consists of $1.2 billion in development management and construction. All told, the firm has provided project management services for clients on projects totaling over $9 billion.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

FrontDoor Communities Opens Sales at Traditions in Metro Atlanta

Terry Russell

 ATLANTA, GA – FrontDoor Communities has opened sales to the public at Traditions, a 420+ home neighborhood in Forsyth County and FrontDoor’s first community in metro Atlanta.

Ninety homes make up Phase I of the community, which has received a great deal of interest even before opening to the public. 

When FrontDoor acquired 158 acres for the project last year, it garnered attention for being the largest land acquisition in metro Atlanta in seven years. FrontDoor also celebrated a successful sales event with neighborhood VIPs in the weeks before sales officially opened.

“Homebuyers are excited about the quality-designed homes coupled with superior amenities that Traditions provides,” said Terry Russell, CEO at FrontDoor Communities.

 “The parks, playgrounds, sports fields, tennis parks, pool and lakefront clubhouse at Traditions, as well as its close proximity to nature trails, shopping and dining, foster an active lifestyle that is in demand in metro Atlanta.”

Traditions rendering, Forsyth County, GA

FrontDoor teamed with a top Atlanta architecture firm on the homes at Traditions, which range from the $400,000s to the $600,000s. 

The community is located just two miles from GA 400 and is near top-rated West Forsyth High School, Big Creek Greenway Trail and The Collection at Forsyth shopping and dining district. 

Residents will also have access to a future neighborhood marketplace with a proposed grocery store anchor adjacent to the community.

Traditions is one of five communities FrontDoor has under development in the Atlanta area. For more information, visit www.traditionsatl.com and www.frontdoorcommunities.com

  

For a complete copy of the company’s news release, please contact:

M.C. Rhodes •The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-343-0274  • M: 678-983-5867

www.thewilbertgroup.com

RealtyTrac Reports 8.1 Million U.S. Residential Properties Seriously Under Water in Third Quarter Marking Lowest Level in Two Years

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its U.S. Home Equity & Underwater Report for the third quarter of 2014, which shows that 8.1 million U.S. residential properties were seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 15 percent of all properties with a mortgage and an estimated $1.4 trillion in negative equity.

“The decrease in underwater properties is promising but the estimated $1.4 trillion in negative equity means that the flood waters are not receding as quickly as they were before, corresponding to slowing home price appreciation,” said Daren Blomquist, vice president at RealtyTrac. “Slower price appreciation means the 8 million homeowners seriously underwater could still have a long road back to positive equity.

“We wanted to paint a picture of the typical seriously underwater homeowner and what we found was that homeowners who bought or refinanced during the housing bubble (2004 to 2008), own a home worth less than $200,000, live in the Sun Belt or Rust Belt and live in a Democratic Congressional District were more likely to be seriously underwater,” Blomquist noted.

“On the other end, the highest percentages of equity rich homeowners were those who bought or refinanced between 1994 and 1998, those with properties valued at $500,000 or more, live in NY, CA, DC and these folks also tend to live in Democratic Congressional districts.”

  

For a complete copy of the company’s news release, please contact:

  

Jennifer von Pohlmann

949.502.8300949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

Griffin-American Healthcare REIT III Enters Agreement to Acquire Portfolio of Medical Office Buildings in New York, New Jersey, Massachusetts and Kentucky for $135 Million

Danny Prosky

IRVINE, CA – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced that the REIT has entered into an agreement to acquire Independence Medical Office Building Portfolio, comprised of five buildings totaling approximately 461,000 square feet in New York, New York; Verona and Morristown, New Jersey; Somerville, Massachusetts; and Southgate, Kentucky for an aggregate purchase price of approximately $135 million. 

The acquisition is subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreement. 

“The acquisition of Independence Medical Office Building Portfolio will significantly expand Griffin-American Healthcare REIT III in core urban areas located near major academic and healthcare institutions,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III.

 “The portfolio is strongly aligned with major healthcare providers and is more than 96 percent occupied.”

For a complete copy of the company’s news release, please contact:

Damon Elder                                                                                   

(949) 270-9207

delder@ahinvestors.com

Governor Announces Sealand’s 13,000-SF Miramar Headquarters Location will create 65 jobs and a capital investment of $350,000

Huntington Centre, Miramar, FL

MIRAMAR, FL (Oct.  24, 2014) – Gov. Rick Scott announced today SeaLand will locate its corporate headquarters to Huntington Centre in Miramar. The shipping company will create 65 jobs and a capital investment of $350,000 in the South Florida community.

Jennifer Gemma

 Scott said, “The opening of SeaLand’s headquarters in Miramar is great news for area families, and the 65 new jobs that will be created will help more families live the American Dream here in Florida.

“SeaLand’s 13,000 square foot headquarters in Miramar at MetLife’s Huntington Centre is a highly significant leasing deal in terms of economic impact,” said Taylor & Mathis Director of Leasing, Donna Korn. 

 “The company will be an outstanding asset to Broward County.” 

Korn, along with Jennifer Gemma, brokered the lease transaction on behalf of landlord MetLife.

In January of 2014, Maersk Line, the world’s leading ocean transportation company and a unit of the A.P. Moller-Maersk Group, announced the formation of a regional, containerized shipping company – SeaLand – dedicated to the intra-Americas market.

Donna Korn

With a structure similar to Maersk’s other successful regional carriers, including intra-Asia carrier MCC Transport and intra-Europe carrier Seago Line, SeaLand will feature knowledgeable, local sales and support personnel positioned in North, Central and South America, as well as the Caribbean, to meet the unique needs of customers throughout the region.

This agile framework will provide greater flexibility and a higher-level of customer-focused service to these local markets. Maersk Line’s existing Intra-Americas service network will be the foundation for SeaLand’s ocean products.

Craig Mygatt, SeaLand’s CEO said, “We are excited to base our headquarters in Miramar, Florida. The SeaLand headquarters will act as the main hub for our business which spans throughout North, Central and South America, and the Caribbean.

“This location is ideal for our operation and will serve us well as we focus on delivering world-class shipping service for all of our customers throughout this vital region of the world.

“We believe Florida offers great opportunities for our team and their families. We thank Governor Scott, Secretary Swoope, the State of Florida, Enterprise Florida, and our local partners for their outstanding support on this project.”

Miramar, FL Mayor Lori C. Moseley

The broader wholesale trade, transportation and logistics industry employs more than half a million Floridians.

 Of those, nearly 85,500 work at companies specifically providing logistics and distribution services.

 As the gateway to Latin America, Florida's logistics and distribution industry is poised to grow further with the Panama Canal expansion, and the numerous infrastructure developments and upgrades underway around the state.

“SeaLand’s decision to locate in Florida validates the state’s success in maintaining a business climate that supports not only Florida’s extensive logistics industry, but our headquarters sector as well,” said Gray Swoope, president & CEO of Enterprise Florida.

 “We are proud to welcome SeaLand to our city and commend the company for partnering with us as we work to sustain a strong economic base for our community,” said Miramar Mayor Lori C. Moseley.

  

Broward County, FL Mayor Barbara Sharief

“SeaLand is yet another example that ‘Broward Means Business.’  

The company has a long distinguished reputation in the marine industry, which is a prime targeted business and we thank them for bringing jobs and a considerable investment to Broward County,” said Broward County Mayor Barbara Sharief. 

 “Broward County continues its widespread effort to bring new companies to our area and we are pleased to welcome SeaLand to Miramar.”

“Florida’s resources, including a strong workforce, expansive infrastructure and strategic partnerships, have created one of the top business climates in the country. We’re excited to see SeaLand take advantage of Florida’s assets and I congratulate them on this establishment.”

  

This project was made possible through the close partnerships of Enterprise Florida, the Florida Department of Economic Opportunity, CareerSource Florida, the Greater Fort Lauderdale Alliance and Broward County.

 For a complete copy of the company’s news release, please contact:

tyoungman@assetmarketingonline.com

CampusWorks & CW Construction Add Key Executives to Contribute to Continued Growth in the Student Housing & Conventional Markets

CHARLOTTE, NC -- CampusWorks Development, a Charlotte based student housing developer and CW Construction, its sister construction company, has recently hired three new executives to add to its senior management team.  

The additions include Chief Financial Officer, Vice President of Operations and Vice President & General Counsel.

Heading up the new hires is Edward (Ned) F. Long, former CFO for Crosland and Executive Vice President for Pacolet Milliken.  Ned will execute all investment activities including directing and executing all financial and capital market strategies.

CW’s second hire is David L. Little Jr., former Executive Vice President & General Counsel of RJ Griffin & Company General Contractors and a former shareholder with Robinson Bradshaw & Hinson, P.A. 

As a member of CW’s senior executive management team, David will manage the company’s risk mitigation efforts, including insurance and bonding, and will provide counsel and guidance on all legal matters affecting both affiliates’ development and construction activities.

Lastly, Wayne Gross, former Vice President/General Superintendent at Dunn Southeast, a JE Dunn Company, will fill the Vice President of Operations position.  With over 37 years of construction experience, Wayne’s role involves the oversight of all construction field operations, management and direction of all superintendents and field employees.

  

For a complete copy of he company’s news release, please contact:

CampusWorks Development & CW Construction

T: +1 (704) 821-5599 |  D: +1 (704) 997-2576

www.cwonsite.com

200 Unionville-Indian Trail Road W  |  Indian Trail, NC 28079

Atlantic | Pacific Companies Announces Latest Development in Port St. Lucie, FL

Alex Lastra

MIAMI, FL - Atlantic | Pacific Development (A|P Development), the development platform under Atlantic | Pacific Companies (A|P), announces that The Atlantic at Tradition, which is the Town of Tradition's first luxury apartment community, is nearly complete.

"The Atlantic at Tradition will be a wonderful addition to the community. The state of the art amenities and fantastic unit floor plans will provide our residents with a wonderful sense of home," said Alex

Lastra, Senior Managing Director of A|P Development.

  

Units will be available for occupancy November 2014. The property will be managed by Atlantic | Pacific Management (A|P Management), the property management platform under A|P.

 For more information about A|P and its platforms, visit www.apmanagement.net or

 call (800) 918 - 1145.

For a complete copy of he company’s news release, please contact:

Jessica Wade Pfeffer | Jessica Wade Inc.

jessica@jessicawadeinc.com | 305.804.8424

www.apmanagement.net.  

Hold-Thyssen negotiates Leases at Pennock Business Center in Jupiter, FL and at Security Square in Winter Haven, FL

    

Therese Taylor

JUPITER, FL and WINTER PARK, FL  --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, recently negotiated  multiple new leases for office/flex space and a retail lease in Jupiter.

Therese Taylor, leasing agent for Hold-Thyssen, negotiated the transactions representing the landlord, Miami-based GECMC 2005-C4. 

At Pennock Business Center, 711 Commerce Way in Jupiter, Taylor completed lease agreements on six office/warehouse/flex suites totaling 7,386 rentable square feet. 

At Maplewood Center, 401 Maplewood Drive, Campbell Property Management & Real Estate, Inc. is the new tenant who leased 1,725 square feet.    Ben Bruner of Michael Falk & Co. represented the tenant. 

Ben Bruner

Taylor represented the same landlord in a lease agreement with Jiles Law P.A., for 850 rentable square feet at Security Square, 130 Bates Avenue SW in Winter Haven.

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

 For a complete copy of he company’s news release, please contact:

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

Plaza Advisors Brokers $21 Million Sale of St. Petersburg, FL Shopping Center

South Pasadena Shopping Center aerial, St. Petersburg, FL

TAMPA, FL -- Plaza Advisors is pleased to announce the $21.1 million sale of South Pasadena Shopping Center in greater St. Petersburg, Florida.

The shopping center totals 165,886 square feet of gross leasable area and includes several major tenants: Walmart Neighborhood Market, Beall’s Outlet, Dollar Tree and an in-line CVS.

“This deal was one of the most highly sought after transactions Plaza Advisors has marketed in years” Jim Michalak stated.

Jim Michalak

“The offering was a quintessential true “value-add” opportunity and fits the mold for what many retail investors are looking for in this environment- grocery-anchored, realizable value-add and good real estate.

“The property was formerly occupied by Publix and recorded an average occupancy of 93% for the seven years prior to Publix’s departure.

“Walmart began operating at the plaza in April. The property was 67% leased at the beginning of the marketing effort. The center virtually has no multi-tenant competition in the immediate area and the overall market occupancy is extremely high.”

Michalak continued. “We received more than twenty offers resulting in a cap rate well below five percent. The seller was delighted in the outcome of the marketing campaign.

“The buyer was also very pleased and has already generated some significant leasing momentum evidenced by the pending announcement of two junior anchor additions to the plaza.”

Mike Cvetetic

Jim Michalak, Mike Cvetetic and Nick Castellano of Plaza Advisors represented the seller in the transaction. No other brokers were involved in the sale. The seller and buyer was a German syndication named VV Florida I, L.P. and Pine Tree Commercial Realty, respectively. 

Plaza Advisors specializes in the disposition of anchored shopping centers located throughout Florida. The company has successfully closed thirteen centers since December 2013. Those closings included: six Winn Dixie, three Publix and one Walmart Neighborhood Market anchored asset.

 For a complete copy of he company’s news release, please contact:

Jim Michalak

Managing Partner

Plaza Advisors

3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 101

Fax 831.2627

jim.michalak@plazadvisors.com

www.plazadvisors.com