Saturday, June 4, 2011

Private Investor Pays $15.1 Million for Three Walgreens in Illinois

  DETROIT, MI – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has negotiated the sale of three Walgreens located throughout the state of Illinois. This portfolio commanded a price of $15,184,137.  

John P. Nuzman, a vice president investments in Marcus & Millichap’s Detroit office, represented the seller, a limited liability company. David E. Thurston (top right photo), an associate vice president investments in the firm’s New Jersey office, represented the buyer, a private investor. John Przybyla, first vice president in the Chicago Downtown office, also provided representation in this transaction.

“Drugstores continue to outperform other net-leased retail assets,” says Thurston, “and these Walgreens properties are no exception. These assets will provide the new owner with solid returns over a long-term hold period, thanks to the strength of the Walgreens corporate guarantee.”

 In addition, Geoffrey Harris, vice president/capital markets in the Phoenix office of Marcus & Millichap Capital Corporation, arranged the acquisition financing. “Good, low-rate financing is available for these credit-tenant properties throughout the country,” says Harris. “And at these rates, investment returns are enhanced.”

 The properties include:

347 E. 95th St., Chicago – This 12,864-square foot Walgreens commanded $5,571,848

 35613 State Route 59, Warrenville, Ill. – This 14,589-square foot Walgreens sold for $5,539,296

1080 N. Seventh St., Rochelle, Ill. – This 14,820-square foot Walgreens traded for $4,072,993.

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

More than 220 donors contribute more than $10,000 to scholarship drive honoring John Crossman’s 40th birthday in Orlando

ORLANDO, FF. --- More than 220 donors have contributed more than $10,000 to a scholarship fund launched to commemorate the 40th birthday of John Crossman CCIM (top right photo) president of Crossman & Company, the Orlando real estate firm that ranks as one of the largest retail property specialists in the Southeast.

Crossman said he was delighted with the response.

Crossman launched the scholarship fund to benefit students at Florida State University, the University of Florida and the University of Central Florida as well as more than 20 other colleges throughout the U.S.

“I have been very honored so far by the efforts of my colleagues in the commercial real estate industry,” said Crossman, a frequent speaker at regional and national real estate conferences.

Crossman has focused on improving the real estate programs at colleges and university throughout his professional career. He is a frequent lecturer at Florida State University and the University of Florida.

For more information,  please contact:
John Crossman, CCIM, President, Crossman & Company, 407-581-6218,
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,

CEO Nexus Forum Slated for Rollins College June 13

Dan Devine, Founder of Compass Knowledge, is Featured  Speaker

ORLANDO, FL. --- The Rollins College Center for Advanced Entrepreneurship in collaboration with CEO Nexus and GrowFL, will host a CEO Nexus forum June 13 at Rollins College SunTrust Auditorium in Winter Park from 6 to 7:30 p.m.

Steve Quello (bottom left photo), president of CEO Nexus, a firm that works with public and private organizations to serve growing businesses, said Dan Devine (top right photo), founder and former CEO of Compass Knowledge Group, will be the featured speaker.

Devine launched Compass Knowledge Group in 1993 to help colleges and universities develop successful online and distant learning programs. Devine later sold the business.

The CEO Nexus Forum, open to company CEOs and principals who are leaders of established, second-stage businesses, will feature a presentation by Devine followed by question and answer forum, Quello said.

For information or reservations for qualified CEOs, contact Quello at

Steve Quello, President, CEO Nexus 407-590-6101,
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142,

Mercantile Capital Corporation closes on loans in May to finance commercial real estate projects valued at more than $11.6 million

ALTAMONTE SPRINGS, FL --- Mercantile Capital Corporation, a wholly owned subsidiary of Old Florida National Bank, closed on loans to finance commercial real estate projects valued at more than $11.6 million in May.

Geof Longstaff (top right photo), chairman of Mercantile Capital Corporation, said the firm’s largest single loan financed the construction of a $6.5 million multi-specialist medical office facility in Newport Beach, Calif.

Mercantile Capital Corporation ranks as one of the nation’s largest providers of  U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities.

 and post:
For more information about this press release, contact:
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040
 Chris Hurn, Chief Executive Officer Mercantile Capital Corporation,  , 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Henin Signature Homes to Host Realtor Showcase June 16 at Riviera Bella in DeBary, FL

DEBARY, FL --- Henin Signature Homes will host a Realtor Showcase from 4 to 6 p.m. on June 16 to showcase the Turino model home (top left photo) at Riviera Bella, the luxury community Henin Group is developing on the St. Johns River in DeBary.

Jerome Henin, founder and president of the Henin Group, said he plans to unveil the new decorated Turino model home at that time.

The five-bedroom, three-and-a-half bath luxury home offers 3,577 square feet with a two-car garage priced from $282,000 on the water.

Henin said Henin Signature Homes will host a public grand opening to showcase the Turino model on Saturday June 18 with refreshments and prizes.

For more information, contact:  
Jerome Henin, Founder & President, Henin Group, 407-425-7888;  
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142