KW Property Management & Consulting Goes International with New Client – Bimini Bay in the Bahamas

  

 Miami, FL and Bimini, Bahamas --- KW Property Management & Consulting, , a statewide leader in turnkey property management, has been selected to handle property management services for Bimini Bay in the Bahamas, a residential development with 384 private residences.

“The addition of Bimini Bay in the Bahamas strengthens the depth and breadth of our residential property management services on an international basis, in addition to our well known expertise in Florida and recent expansion into New York City and Nashville.” said Robert White, Co-Managing Director, KW Property Management & Consulting.

KW’s role includes managing the 384 private residences.

Miami-based Capo Group and real estate developer Gerardo Capo developed Bimini Bay after purchasing the land in 1998. The property’s other upscale amenities includes a 374-unit resort hotel with rooms, suites and luxury villas and a casino under construction.

 The 230-slip marinas form the centerpiece of the resort, and with two separate marinas - Fisherman's Village Marina (136 slips) and the Mega-Yacht Marina (96 slips), both equipped with concrete floating docks.

One of the largest onsite management companies in Florida, KW currently manages numerous premier properties in South Florida including the Atlantis Condominium on Brickell Avenue, Turnberry Village in Aventura and 900 Biscayne Bay Condominiums in Downtown Miami.

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

 Brittany Nguyen

Becker Public Relations

2506 Ponce de Leon Blvd.

Coral Gables, FL 33134

Telephone 305/444-2181 X 221

Email: bnguyen@beckerpublicrelations.com

www.kwpropertymanagement.com

Marcus & Millichap Capital Corp. Arranges Two Retail Center Refinancing Loans in California Totaling $17.9 Million

Anita Paryani Rice

LOS ANGELES, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged two retail strip center refinancing loans totaling $17.9 million. One loan is for $10.4 million and the other is for $7.5 million.

Anita Paryani Rice, a vice president capital markets in MMCC’s West Los Angeles office, arranged the loans with Jake Roberts, a vice president capital markets, and Jerry Wise, a first vice president investments, both in the same office.

Jake Roberts

 The loans were arranged to refinance two retail strip centers; one in Santa Clarita, Calif. and the other in Simi Valley, Calif.

The Santa Clarita loan was structured with a five-year term and will amortize over 30 years. The LTV is 65 percent.

The loan for the Simi Valley asset was structured with a 10-year term and will amortize over 25 years at an interest rate of Libor plus 2.75 percent. The LTV is 65 percent.

Jerry Wise

“The 1966-built Santa Clarita property is anchored by a grocery store that could not provide a sales history,” says Paryani Rice, “along with another, smaller anchor that had declining sales. The property also included some ‘elbow space’ with a history of being difficult to lease,” adds Paryani Rice. “Despite these factors, MMCC was able to create a sense of comfort for the lender, in terms of both the property and the market.”

“The Simi Valley asset is currently in transition,” Paryani Rice continues, “as the borrower negotiates an expansion and lease extension for a major tenant. Furthermore, the borrower requested that the loan’s terms include release provisions and exclude a prepayment penalty. MMCC was able to secure these terms in spite of the borrower’s non-optimal position, giving the property’s family ownership the all-important flexibility to release buildings or sell anytime,” Paryani Rice concludes.

         

Press Contact:

Marcus & Millichap Capital Corp.

(925) 953-1716

Marcus & Millichap Sells Strayer University Building in Miramar, FL for $5.9 million

Strayer University, Miramar, FL

 MIRAMAR, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Strayer University, an 18,068-square-foot net leased educational facility located in Miramar, FL, according to Kirk A. Felici, First Vice President/Regional Manager of the firm’s Miami office. The asset commanded a sales price of $5,900,000.

Vice President Investments Adam J. Tiktin in Marcus & Millichap’s Miami office had the exclusive listing to market the property on behalf of the seller, a limited liability company from Davie, FL.

Adam J. Tiktin

“This sale was a great investment opportunity for the buyer to own a brand-new, Class-A, private educational facility.  Strayer University is listed in Forbes as one of the top 10 online universities and has 92 campuses throughout the United States. This particular location has great visibility to I-75,” says Tiktin.

The 18,068-square foot educational facility was a build-to-suit for Strayer in 2009 at which time Strayer University signed a 10-year double-net-lease.  Strayer University is located at 15620 Southwest 29th Street in Miramar, FL.

Press Contact:

Kirk A. Felici

First Vice President/Regional Manager,

Miami, FL

(786) 522-7000

Triumph Motorcycles Relocates to Hartsfield Centre in Atlanta, GA

Hartsfield Centre, Atlanta, GA

 ATLANTA, GA -- Cassidy Turley, a leading commercial real estate services provider in the U.S/ announced it brokered the 18,557-square-foot lease at Hartsfield Centre in Atlanta for Triumph Motorcycles (Americas), LTD.

 Triumph was looking for a new space to relocate its North American headquarters from Newnan, Ga., in order to be closer to Hartsfield-Jackson Atlanta International Airport.

Mike Shelly

The iconic British motorcycle manufacturing company locked in an eight-year commitment for an entire floor at Hartsfield Centre, a Class-A office building located at 100 Hartsfield Center Parkway. 

The location will enable the company to bring clients and distributors from around the country to their new showroom and offices, further amplifying the 110-year-old motorcycle company’s brand.

Sonia Winfield

Triumph was also looking for more space as it continues to grow its domestic market share. The company has grown more than 70% the last three years, and plans to increase its employee base by 40% over the course of the lease.

 Cassidy Turley’s Senior Managing Director Mike Shelly and Associate Vice President Sonia Winfield represented the landlord - Alecta Real Estate Atlanta, LLC, a 10-year client of the firm’s.

Bill Johnston of King Industrial Realty represented Triumph in the deal.

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

 Tony Wilbert

Wilbert News Strategies

404-965-5022

twilbert@wnspr.com

$10 Million Shopping Community Hits the Market in Marietta, OH

  

Lafayette Center, Marietta, OH

 MARIETTA, OH – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for Lafayette Center, a multi-tenant shopping community in Marietta, Ohio, 125 miles northwest of Columbus. The 109,856-square foot property is listed at $10.1 million, or $92 per square foot.

Steven Siegel

Steven Siegel, a first vice president investments in Marcus & Millichap’s Manhattan office, is spearheading the marketing efforts for the seller.

 Michael Kook, an associate in the same office, and Ashish Vakhariya, a senior associate in the firm’s Detroit office, are also providing representation.

Michael Kook

Michael Glass, vice president and regional manager of Marcus & Millichap’s Cleveland and Columbus offices, is the firm’s broker of record in the state of Ohio.

“Conveniently situated on a prime retail corridor just off Interstate 77, also known as Vietnam Veterans Memorial Highway, this asset is anchored by five national tenants and shares its location with four national big box stores,” Siegel says. 

“Additionally, its 9,371 vacant square feet provide an exceptional upside. An investor with a strong knowledge of the retail market stands to do very well with this property,” Siegel concludes.

 Ashish Vakhariya

Located on Pike Street, a heavily trafficked thoroughfare that sees 27,300 cars per day, Lafayette Center is currently 91.5 percent occupied by a number of national and regional tenants including Peebles (18,515 square feet), Jo-Ann Fabrics (9,000 square feet), Family Dollar (8,450 square feet) and Hibbett Sporting Goods (6,000 square feet).

Michael Glass

The asset is surrounded by national retailers McDonald’s, Arby’s, Applebee’s, Burger King and Chase Bank. It is just across Pike Street from Big Lots, Bridgeport Equipment and Kroger Square, a 43,500-square foot neighborhood center anchored by Kroger.

 A few steps away are Kmart and the River’s Edge center, anchored by Walmart Supercenter, Anytime Fitness and Sally Beauty Supply. Lowe’s Home Improvement, also in the immediate area, rounds out the list.

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

Public Relations

(925) 953-1716

Commercial Construction Set to Rise, but Will Enough Experienced Workers Be There to Handle Demand?

Michael Bull

 ATLANTA, GA) – As 2013 draws closer on the horizon, construction and design experts predict next year will see an overall increase in commercial building activity. However, they also worry that the construction and architecture industries will have a hard time finding enough experienced workers to meet the rising demand.

The most recent episode of the “Commercial Real Estate Show,” hosted by Michael Bull, took an enlightening look at the issues confronting the construction, development and design sectors. Bull and his guests discussed a range of topics including in-demand property types, construction costs, sustainability and tips for successful construction projects.

Bill Bland

The United States has experienced about a 2 percent increase in non-residential building activity during the past year and should see a roughly 6 percent bump in 2013, said Kermit Baker, chief economist for the American Institute of Architects.

However, while the overall activity number is increasing, there is a “lot of variation” in how individual sectors are performing, Baker added. “Some segments are doing pretty well, while others are really still in recession mode,” he said.

For example, hotel and motel construction has increased 25 percent in the past 12 months, while the building of worship facilities has dropped 17 percent in the same timeframe, he said. Multifamily and seniors-housing facilities also are seeing significant building activity, guests noted.

Bill Halter

Because the construction and architectural sectors have been so depressed for the last half decade or so, many seasoned workers left the industries in pursuit of more in-demand careers, leaving those still working in the sectors with the significant challenge of finding the right people to handle what should be a rising workload.

“We’re looking for seasoned individuals,” said Bill Bland, a senior vice president with Choate Construction. “Because so many people left the industry, trying to locate experienced workers, in particular pre-construction experts, is difficult.”

Sustainable design and construction is a trend that has taken a permanent hold, noted Bill Halter, director of corporate design for the Cooper Carry architectural firm. “Our clients today all want to talk about sustainability,” he said. “They see the value in it, from a building operations side.”

 “They may not want to do a LEED-certified building,” Halter added. “They may not want to go to the [U.S. Green Building Council] and go through [its certification] process, but they do want it to be a high-performance building.”

The entire episode on construction, development and architecture is available for download at www.CREshow.com.

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

Stephen Ursery

The Wilbert Group

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Bull Realty Arranges $1.8 Million Sale of 22,000-Square-Foot Grasslands Plaza in Northern Metro Atlanta, GA

Grasslands  Plaza Retail Center, Atlanta, GA

 ALPHARETTA, GA. – Bull Realty has negotiated the $1.8 million sale of the more-than-22,000-square-foot Grasslands Plaza Retail Center.

Located at 5620 Commerce Boulevard in Alpharetta, Ga., the foreclosed property and three acres of vacant land were sold by PNC Bank to TAC GrassLands LLC, a regional equity group.

 Rob Whitmire, Bull Realty partner and senior vice president with the firm’s Special Asset Services division, and Bob Kane, vice president in Bull’s National Retail Group, represented the bank in the disposition and were the only brokers involved in the transaction.

Rob Whitmire

“Using aggressive marketing techniques, Bull Realty created substantial competition for this property, allowing the seller to net greater returns,” Whitmire said. “We had 10 solid offers immediately upon taking the asset to market.”

 Kane added, “This transaction supports the trend of investor interest in unanchored retail strip centers with income in place (this center features approximately $128,000 in net operating income) and the opportunity to lease up for considerable returns.”

Grasslands Plaza was built in 2008 and is currently 69.7 percent occupied. Its tenants include Curves, Dollar Tree, Moe’s Southwest Grill and AT&T Cellular. The vacant parcels are approximately 1.32 and 1.73 acres. The plaza and the vacant lots are outparcels to a Wal-Mart Supercenter.

Bob Kane

Traffic counts on nearby Highway 9, the main commercial artery in Alpharetta, exceed 19,000 vehicles per day. A wide variety of local and national retailers, including Kroger, CVS/pharmacy, Blockbuster, Advance Auto Parts, SunTrust, Wachovia, McDonald’s, Burger King, Sonic, Papa Johns, Subway, Great Clips, GNC and Metro PCS, are located within one mile of the property.

 Bull Realty Inc. is a full-service commercial real estate brokerage firm providing investment sales services throughout the nation and corporate services in the Southeast. The firm was founded 15 years ago with two primary missions: 1) to provide a company of stellar integrity and reputation, and 2) to provide the best commercial real estate marketing in the nation.

  

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

Stephen Ursery

The Wilbert Group

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Bull Realty Arranges $1.67 Million Sale of Celebrity Chef Alton Brown’s Studio in Atlanta, GA

  

Atlanta, GA Chef Alton Brown's Studio

 ATLANTA, GA – Bull Realty has negotiated the $1.67 million sale of the almost 17,000-square-foot studio of celebrity chef Alton Brown.

Located at 1371 Southland Circle in the Georgia Tech submarket of Atlanta, the office loft/creative space, in which the Food Network’s popular TV show “Good Eats” was filmed, was purchased by Reliant Technologies. Reliant Technologies will use the space for its corporate headquarters.

Daniel Latshaw

 Daniel Latshaw, Bull Realty Partner, represented Brown in the transaction. An in-town commercial broker, Latshaw also represented the celebrity chef in the 2004 purchase of the northwest Atlanta property, which was renovated the following year.

“The offering received strong interest from studios, special-event companies and loft-office users” Latshaw said.

Chef Alton Brown Studio, interior, Atlanta, GA

Built in 1990, the property is zoned Flexible I-2 (Industrial), allowing for a variety of studio, loft-office and showroom uses. The surrounding district is home to some of the nation’s premier creative and technology businesses, acclaimed restaurants, and shopping.

Brown no longer needed the space, as he is now shooting most of his TV shows in New York or Los Angeles.

Paul Raulet of Raulet Property Partners represented the buyer in the transaction.

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

Stephen Ursery

The Wilbert Group

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com