Miami River Development Project Hits the Market for $7 Million

Miami River, Miami, FL

Ryan Shaw

MIAMI, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for a 44,572 square foot block of land and a 31,294 square foot marina with 36 slips fronting the Miami River in Miami, FL. The impressive development opportunity is priced at $7 million.

            Ryan Shaw and Scott Sandelin, Senior Associates in Marcus & Millichap’s Miami office, are representing the seller, a limited liability company from Miami.

The investment opportunity consists of multiple land parcels and marina totaling approximately 75,866 square feet along the Miami River.

The property is separated by NW 22nd Avenue with the residential development on the west side and the marina to the east. The land allows for up to 362,000 buildable square feet under Miami21 zoning of T6-8-O which should fit a minimum of 105 units over eight floors.

“This is an excellent opportunity for a developer to acquire a site on the Miami River with an adjacent marina,” says Shaw.

Scott Sandelin

 “The Miami River and its surrounding neighborhoods have become magnets for all kinds of energy and activity over the last couple of years.

“Private sector developments along the Miami River are at an all-time high. The addition of new restaurants, retail, and apartments further west on the river make this an excellent opportunity to capture the future of what the Miami River has to offer.”

The land parcels are located at 2190 NW North River Drive in Miami, FL.

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

Kirk Felici

Vice President/Regional Manager

 Miami, FL

(954) 245-3400

Lincoln Brokers Leases Totaling More than 22,000 Square Feet at SunTech Commerce Park in Central Florida

  

SunTech Commerce Park, Lake Mary, FL

  

Sean Dupree

 ORLANDO, FL– Lincoln Property Company Southeast (Lincoln) has brokered three leases totaling 22,113 square feet at SunTech Commerce Park, a campus-style office park in Lake Mary, Fla.

Sean DuPree and Austin Stahley of Lincoln represented the landlord in the transactions.

 The details of the deals are below:

• Total Renal Care Inc. signed a 10-year lease for 10,392 square feet.  Wendy Dobreff of DTZ represented the tenant.

• Turning Point Solutions Corp. signed a five-year lease for 8,471 square feet.  No other broker was involved in the transaction.

• Brightway Insurance signed a five-year lease for 3,250 square feet.  No other broker was involved in the deal.

Wendy Dobreff

The 223,828-square-foot SunTech Commerce Park features five office/flex buildings and one, three-story office building. It is located near Interstate 4, is 100 percent sprinklered and offers tenants 24-hour access.

“We are seeing increased office and flex leasing activity throughout central Florida,” said DuPree, director of sales/leasing in Lincoln’s Orlando office. “We anticipate a very active 2014.”

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

 http://www.lpcsoutheast.com/blog/.

Kiser Group Brokers Four Illinois Sales Totaling $5.1 Million Including Apartment and Retail Properties on North Side, Wilmette, Berwyn and Cicero

  

4900--06 North Ridgeway Apartments, Albany Park ,IL

John Meyer

 CHICAGO, IL – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, recently brokered two apartment and two retail property transactions.

The January 2014 closings included two 24-unit apartment properties, one in Wilmette and the other in Chicago’s Albany Park neighborhood; and two retail buildings, one in Berwyn and the other in neighboring Cicero.

422-44 Ridge - Wilmette

Lee Kiser

Town Chalet is a 24-unit apartment complex on a 50,886-square-foot residentially zoned lot at 422-44 Ridge in Wilmette. The complex’s three buildings each include eight townhome-style, one-bedroom, one-bath apartments. The property sold for $3.2 million.

“Built in 1956, Town Chalet was still owned by the original developer so there was real pride of ownership,” said John Meyer, managing director of Kiser Group. 

He and Lee Kiser, principal of Kiser Group, represented the seller in the sale. “In addition, its below-market rents and long history of maintaining full occupancy were key selling points.”

Sean Connelly

 “This property also appealed to the buyer because of its large lot size and its highly desirable Wilmette location,” said Sean Connelly, senior managing director of Kiser Group, who represented the buyer in the sale.

  

 4900-06 N. Ridgeway – Albany Park

The 24-unit apartment building located at 4900-06 N. Ridgeway in Albany Park sold for $1.7 million.

Bill Baumann, senior managing director, and Mike Anguiano, managing director of Kiser Group, represented both the buyer and seller in the transaction.

6505 W. Ogden – Berwyn

Bill Baumann

This 5,400-square-foot retail store at 6505 W. Ogden Ave. in Berwyn sold for $175,000..

 “The key attraction to this property is its high visibility along heavily-trafficked Ogden Avenue,” said Connelly, who represented the seller along with Anguiano. “More than 25,000 vehicles per day pass by the story daily.”

5901-07 W. 35th St. – Cicero

 Offered as an estate sale, this seven-unit property at 5901-07 W. 35th St. in Cicero sold for $335,00. The retail center is 91 percent occupied by six different tenants. A $45,000 new roof was installed in November 2012. Tenants pay their own utilities.

Mike Anguiano

 “This property offers stable income for the investor,” said John Meyer, managing director, who represented both the buyer and seller in the transaction. “Most of the tenants have been located at the center for more than 10 years.”

 All the names of buyers and sellers involved in these transactions are not available at this time.

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

X Team Partner Florida Retail Partners Brokers Northwood BurgerMonger Lease in Clearwater, FL

  

TAMPA, FL  — Florida Retail Partners, an X Team partner brokered a 2,700 square foot lease for BurgerMonger®.  The restaurant headquartered in Tampa will open its fifth location in Clearwater’s Northwood Commons shopping center in April. 

Kalyn Brandewie

 The deal was brokered by Kalyn Brandewie, Founding Partner with Florida Retail Partners representing BurgerMonger® and co-broker Peter Monroe with National Real Estate Ventures, LLC. 

“We love working with local businesses and watching them as they expand their businesses to become more and more successful,” stated Brandewie.

“There is a reason they have been voted the #1 burger in Tampa Bay.”  This is the second lease Florida Retail Partners has brokered in the past year for the restaurant.  They also brokered the lease for their fourth location at Bloomingdale Square in Brandon.

“We strive to be synonymous with a passion for extraordinary food, amazing taste, and exemplary customer service and satisfaction,” said BurgerMonger® General Partner, Jake Hickton. “At BurgerMonger®, we selected what we believe are the world’s finest ingredients to produce the best burger on the planet.”

Peter Monroe

Founded in 2010, with soon to be four locations in Tampa Bay, Florida and one in Willow Grove, PA, BurgerMonger® is an emerging leader of the fast, fresh casual “better burger” segment.

 BurgerMonger® has been recognized across Tampa Bay for its quality burgers. In 2011, it received Gold for Best Burger of Carrollwood. In 2012, BurgerMonger® was recognized by TampaBay Times customers as the “#1 Burger in TampaBay.

” The family-friendly menu features gourmet hamburgers and hot dogs using 100 percent pure Japanese Akaushi Kobe beef, hand-cut French fries made from premium Idaho potatoes, and handcrafted Häagen-Dazs® ice cream shakes and malts.

" BurgerMonger® guarantees to provide the finest ingredients and superior craftsmanship to result in extraordinary food for their guests. For more information, visit BurgerMonger.com.

X Team partner Florida Retail Partners was founded in 1997 and currently has four Florida Retail Real Estate Specialists all with over twenty years of experience. 

Jake Hickton

  X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services, property dispositions and retail investments. valuation.                         

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

Kalyn Brandewie

www.floridaretailpartners.com

813.251.3333

Kalyn@floridaretailpartners.com

 BurgerMonger®

Lisa Deptula

727.457.1542

lisa@burgermonger.com

www.xteam.net.

Valley View Apartment Complex in Los Angeles, CA Neighborhood Trades at $14.2 Million

Villa Fontaine Apartments, 11850 Riverside Drive, Valley View neighborhood, Los Angeles, CA

Ronald Harris

LOS ANGELES, CA– Marcus & Millichap, the nation’s largest real estate investment services firm, has arranged the sale of Villa Fontaine, a 71-unit apartment complex in Valley View, a neighborhood in the city of Los Angeles. The $14,200,000 sales price equates to $200,000 per unit.

            Ron Harris, an executive vice president investments, Paul Darrow, and Michael DiSimone, both senior associates, all in Marcus & Millichap’s Los Angeles office, represented the seller, the Lindquist and Morrow families. Harris, DiSimone and Darrow also represented the purchaser, private investors Bob Hart and Jay Schulman.

Paul Darrow

            “This was Villa Fontaine’s first time on the market in 35 years,” says Harris. “The property’s size, central location, amenity package and the opportunity it presents to add value make it well suited to provide healthy long-term returns.”

            “Villa Fontaine has not been renovated in 20 years,” adds Darrow, “although the previous owner did spend approximately $3 million on structural and other upgrades in the mid-1990s.”

            The apartment complex is located at 11850 Riverside Drive in the southeastern San Fernando Valley community of Valley Village. The location is adjacent to several major employment hubs including Burbank, Glendale and downtown Los Angles, which are all accessible via U.S. Highway 101, the Hollywood Freeway (State Route 170) and the Ventura Freeway (California State Route 134).

Michael DiSimone

Laurel Canyon Boulevard is two blocks away, putting residents within 15 minutes of Hollywood, West Hollywood and the Sunset Strip.

            Apartments at Villa Fontaine feature French-style entry doors, patios, ceiling fans and dishwashers. Select units have walk-in closets and fireplaces. Community amenities include controlled access entry, 89 one-level on-grade gated parking spaces, two elevators, a courtyard swimming pool and two laundry rooms on each floor.

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

Gina Relva

Public Relations Manager

(925) 953-1716

$12 Million Self-Storage Facility Sale in Kissimmee, FL Arranged by Marcus & Millichap

Pleasant Hill Self-Storage, 4390 Pleasant Hill Road, Kissimmee, FL

Michael A. Mele

KISSIMMEE, FL – Marcus & Millichap, the nation’s largest real estate investment services firm, has arranged the sale of Pleasant Hill Self Storage, a 981-unit, 106,475-square-foot self-storage facility located in Kissimmee, Fla. The $12,000,000 sales price equates to $144 per square foot.

            Michael A. Mele, a first vice president investments in Marcus & Millichap’s Tampa office, along with Douglas K. Mandel, a first vice president investments, and C. Todd Everett, SIOR, senior associate, both in the firm’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company in West Palm Beach, Fla.

Michael A. Mandel

            Mele and Everett also represented the buyer, a New York-based private investor.

            “This sale has an aggressive price per square foot for the Orlando market,” says Mele. “However, the extremely high barriers-to-entry that exist for new competition and the property’s potential upside justify the sales price for the new owners.”

            “The facility also fits nicely into their portfolio,” adds Mele.

             The property is located at 4390 Pleasant Hill Road in Kissimmee, Fla.

C. Todd Everett

            Constructed in 2006 and expanded to include two additional storage buildings in 2009, Pleasant Hill Self Storage is the newest self-storage facility in the Kissimmee area.

The 83,280- net-rentable square-foot property stretches across 14.7 acres. The units range in size from 25 square feet to 600 square feet and 45 percent are climate-controlled. The property also has 234 parking spaces for recreational vehicle storage and boat storage.

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

Gina Relva

Public Relations Manager

(925) 953-1716