Commercial Asset Partners closes $3.2M sale of fully-leased shopping center in New Port Richey, FL

  

 NEW PORT RICHEY, FL  (Dec. r 22, 2011) – Reflecting an increase in investment activity in the Pasco County commercial real estate market, Commercial Asset Partners (CAP) Realty closed the sale of a 14,000-square-foot shopping center in New Port Richey, Fla. for $3.2 million, or $229 per square foot.

The 100-percent-occupied retail center was sold by Streetside Tampa LLC, which was represented by Heidi Tuttle-Beisner (top right photo) Broker-Owner of CAP Realty. The buyer, Atlantic Emerald Irrev Trust, was represented by Elliot Ross, CCIM of The Ross Realty Group.

Built in 2007, the shopping center at 8344-8406 Little Road in New Port Richey, Fla. has a roster of quality tenants, including Papa Murphy’s – a “take n’ bake” pizza company, Planet Beach, Dunkin’ Donuts, T-Mobile, Shenanigan’s Irish Pub, The UPS Store and Firehouse Subs. The center has a strong tenant history and is in a high-traffic area.

“Selling shopping centers can be challenging, because of the problems in the retail sector of the economy,” said Tuttle-Beisner. “But this center attracted significant interest because it has a very strong tenant base, great location and visibility, and is only a couple years old – making it an attractive investment opportunity to the buyer.”

CAP is also seeing an increase in office transactions in the northern areas of the Tampa Bay region, recently completing a lease and sale:

Sunbelt Staffing leased 16,000 square feet in the Bay Arbor Place mixed-use development at 3687 Tampa Road in Oldsmar, Fla. The landlord was represented by Heidi Tuttle-Beisner and the tenant was represented by Mohr Partners of Dallas, Texas. Sunbelt Staffing is relocating in the same market and will move about 70 employees to the new facility in March.

EMSI Public Relations purchased 3,000 square feet of office space for $303,760 at Red Fern Professional Park, located at 3748 Turman Loop in Wesley Chapel, Fla.

The seller, Tiger Investment Group, Inc., was represented by Theresa Margaris (middle left photo) of CAP Realty, and the buyer, Steven and Marsha Friedman of EMSI, was represented by Ben Kreloff of ProCorp Realty in Clearwater, Fla. The space went under contract and closed in less than 30 days.

One of the top mid-sized commercial real estate companies in the Tampa Bay area, CAP Realty handles leasing and sales of retail, office and industrial properties, along with helping clients with real estate investment sales and land transactions.

Based in Trinity, Fla., Broker-Owner Heidi Tuttle-Beisner and her team have built a company that has the experience and resources to handle a wide range of assignments, while offering a high level of personal service for each client. For more information, see the company’s website at http://www.caprealtypartners.com/

Media Contact:         

Kyle Parks

(727) 895-5030 x101 (o)

(813) 352-1325 (c)

Kyle@BayviewPR.com

Tom Richards Joins Voit from Colliers

  

Phoenix, AZ (Dec. 22, 2011) – Voit Real Estate Services’ Phoenix office has announced the addition of Tom Richards (top right photo) to its brokerage team, according to Todd Brown (lower left photo), Managing Director of Voit’s Phoenix office.

 As an investment sales specialist, Richards brings with him extensive knowledge in all areas of the Phoenix retail, office, and industrial markets.

“As Voit’s Phoenix office continues to take on new assignments, we are diligent in our recruitment of the top professionals in our industry,” said Brown. “Tom founded two successful commercial real estate development and investment firms in Arizona, and brings a wealth of experience and regional knowledge to Voit’s brokerage team.”  

Prior to joining Voit, Richards served as an Associate Vice President at Colliers, where he specialized in retail, office and light industrial investment sales, with a focus on properties under $10 million.  He is experienced in investment and market analysis; sales and leasing; land acquisition; entitlements; legal and financial structures; financing; construction management; and asset management.

Richards began his commercial real estate career with Colliers in 2000, and spent two years specializing in sales and leasing of office, industrial, and retail properties.  In 2002, he was the Founding Partner and Designated Broker at Baja Commercial, a successful boutique commercial real estate company that developed and redeveloped retail properties throughout Arizona.

 Richards holds a Bachelor of Science in real estate from Arizona State University.

Further information is available at www.voitco.com.

Contact: 

Judith Brower

Brower, Miller & Cole

(949) 955-7940

JBrower@browermillercole.com

Progress on New Community Park Brings Holiday Cheer to Santa Ana, CA Families

SANTA ANA, CA – In a densely populated, immigrant community with few, if any, recreational facilities, parents gathered on Saturday, December 17 for a Christmas celebration at the site of the new .6 acre park and community center (top left rendering).

The start of construction on the park is the happy progression of years of effort to bring much-needed recreational facilities to the 92701 zip code in downtown Santa Ana, Calif.

 “Seeing the trucks come in to make our park is a dream come true,” said resident Edith Melchor, a member of the group, Parents with Green Hearts, which lobbied for the park’s creation. “The park under construction makes it a real Christmas now.” The group also put their wishes for health on a Christmas tree on the barren land, which will be a completed park by summer.

 “This land is more than dirt. This land is the dream of ten years for our community to have a place where our children can play,” said Latino Health Access CEO America Bracho (middle right photo). The park began after one mother brought the idea to Latino Health Access. Since then, parents have joined to form Parents with Green Hearts.

 The $3.6 million park is being built by Latino Health Access, on land leased from the City, with the commitment and assistance of many community partners in planning, designing and moving the project forward.  The park is historic as the first community-driven recreational and educational public space of its kind promoting health and wellness in a resource-challenged community.

 

 McCarthy Building Companies, Inc., its design-build partner TAYLOR and St. Joseph Health System have donated more than 2,000 hours of architectural and preconstruction services. Moreover, McCarthy will provide construction services at a discounted rate to Latino Health Access through its community volunteer group, the McCarthy Heart Hats.

 For more information on the companies, please visit  http://www.mccarthy.com/   and http://www.taa1.com/.

Contact:  Laura Mickelson, (949) 453-0851 / LauraMickelson@cox.net