Sale of The Woodley, Washington, D.C.’s newest luxury multi-housing community in Woodley Park, closed by HFF

The Woodley, 2700 Woodley Road NW,
Woodley Park, Washington, DC

WASHINGTON, D.C. – HFF announced today that it has closed the sale of The Woodley, a newly completed, multi-housing building in the Woodley Park neighborhood that will set the standard for luxury living in Washington, D.C. for the next generation.

                HFF marketed the property on behalf of the sellers, The JBG Companies and CIM Group and the asset was purchased by TIAA-CREF free and clear of existing debt.

                The Woodley, located at 2700 Woodley Road NW in Woodley Park, is close to Rock Creek Park, Dupont Circle and Cleveland Park about three miles northwest of downtown D.C. 

The Woodley is a collaborative design effort between David M. Schwarz Architects, Cooper Carry Inc. and VOA Associates.

David Nachison

 The exclusive, 212-unit luxury property has studio through three-bedroom units averaging 1,119 square feet each, which feature the very finest and detailed finishes including solid hardwood flooring, soaring ceilings, marble countertops, built-in appliances, private balconies and terraces.

 The amenity package at the property includes a resident club room with catering kitchen, library, fitness center, courtyard with reflecting pool, infinity edge pool, and an active rooftop experience where residents can cook and host guests outdoors while taking in the views.

                The HFF investment sales team representing the seller was led by senior managing directors Dave Nachison and Alan Davis and directors Brenden Flood and Bret Thompson.

                “The Woodley is the first luxury high-rise apartment building to be built in decades in Woodley Park, one of the District’s most prestigious and historic residential neighborhoods, and it will redefine the standard for luxury apartment homes in the D.C. market going forward,” said Nachison.  “The property will attract residents seeking the finest in rental living offering a timeless red brick design infused with modern comforts and will be unrivaled in first-class service and amenities.” 

Alan Davis

“The Woodley’s unique mix of  large format residences is designed to cater to a growing demographic of mature residents leaving upscale homes and seeking similarly high quality places to live in established urban neighborhoods,” added Davis.

Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. 

  The company has more than $10 billion in assets under management and development in the Washington metropolitan area.  Since 1960, JBG has been active in the communities where it invests, striving to make a positive impact.  More information can be found by visiting the company's website: www.JBG.com, or by calling 240.333.3600.

TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with approximately $569 billion in assets under management (as of 3/31/14) and is the leading provider of retirement services in the academic, research, medical and cultural fields.

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

tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

Kiser Group Brokers Three Chicago-Area Apartment Property Sales

  

John Meyer

  CHICAGO, IL – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, recently brokered the sales of three Chicago-area properties.

 The May 2014 closings included a 70-unit apartment complex in Mundelein, Ill.; a 31-unit apartment building in the Kenwood/Hyde Park neighborhood on Chicago’s South Side; and a 10-unit apartment building in the Belmont Cragin neighborhood on Chicago’s Northwest Side.

       

 40-42 S. Shaddle - Mundelein

Embassy Apartments, located at 40-42 S. Shaddle Ave. in northwest suburban Mundelein, Ill., includes two identical 35-unit buildings for a total of 70 units with 137 parking spaces on a 4-acre parcel. The unit mix includes 64 two-bedroom, 1 ½ -bath apartments; four one-bedroom, one-bath units; and two studios. It sold for $4.65 million.

Bill Baumann

 “Embassy Apartments is adjacent to a large industrial park that employs a lot of area residents, and it’s also three miles northwest of Hawthorn Shopping Center in Vernon Hills,” said John Meyer, managing director of Kiser Group, who represented buyer and seller in the sale. “Since it’s near so many employers, the property consistently maintains 100 percent occupancy.”

               

4740 S. Greenwood - Chicago

 Located at 4740 S. Greenwood, just one and a half blocks north of President Barak Obama’s permanent residence, this completely renovated vintage courtyard includes 31 apartments, bike storage and laundry room. 

The unit mix is 12 one‐, 13 two‐, and six three‐bedroom apartments, each with one bath. Extensive renovations completed in 2013 include a roof tear-off, new skylights and windows, tuck-pointing, new water main, plumbing, electric, and waste stacks. It sold for $4.3 million.

Sean Connelly

“This property sold quickly as its convenient location and excellent building condition provide a market vacancy of less than 5 percent,” said Zack Hofstadter, associate with Kiser Group, who represented the seller in the transaction.

“The new condo-quality luxury finishes in the units also appealed to the buyer,” said Bill Baumann, senior managing director with Kiser Group, who represented the buyer in the sale.

  

5156 W. Melrose - Chicago

Built in 1929, this 10-unit walk-up apartment building located at 5156 W. Melrose in Chicago’s Belmont Cragin neighborhood sold for $950,000. Sean Connelly, senior managing director of Kiser Group, represented the buyer in the transaction.

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

Morrison Commercial Real Estate Completes 2,238-SF Professional Office Building Sale in Winter Park, FL for $457,500

Christi Davis

ORLANDO, FL (June 26, 2014):  Morrison Commercial Real Estate completed the sale of a 2,238 SF professional/office building for $457,500 ($204.42/SF), located at 1412 Trovillion Avenue, Winter Park, FL.

Christi Davis, CCIM, Vice President at Morrison Commercial Real Estate, represented the buyer, Hanging Moss Holdings, LLC.  The property will be re-tenanted and occupied by the law firm, Anita L. Barber, P.A.

The seller was 1412 Trovillion, LLC, represented by Frank Ricci of Healthcare Realty & Development Services.

Morrison Commercial Real Estate is a full-service brokerage firm specializing in the office and industrial sectors.  Headquartered in Downtown Orlando, our professional experience and extensive knowledge of the Central Florida market enables us to achieve maximum transaction value, and optimal return on investment for our clients.

 Morrison Commercial Real Estate provides landlord, owner and tenant representation services in leasing, buying, selling and site selection of commercial property in Central Florida.

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

Gina Wade

Phone: 407.440.6651

Email:  gwade@morrisoncre.com

Marcus & Millichap Brokers Archway Holdings Corp. Related Entitties' Purchase of L.A. Office Building in All-Cash Transaction

11801 Mississippi Avenue, West Los Angeles, CA

 LOS ANGELES, June 26, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 11801 Mississippi Ave., a 24,759-square-foot office property in West Los Angeles.

            John Ghiselli, a senior associate in Marcus & Millichap’s West Los Angeles office, represented the purchaser, a group of entities affiliated with Archway Holdings Corp. The seller is AIG.

John Ghiselli

            “Our marketing campaign produced offers from people throughout the investment community and resulted in an all-cash sale with a one-day escrow,” says Ghiselli.

“This acquisition is part of Archway’s continued interest in Southern California’s more creative office properties. Previously, the company and its affiliated entities purchased 820 Broadway in Santa Monica, an office property previously leased by Google and Coda and now leased by Dogvacay and a division of WPP, one of the world’s largest advertising companies.”

            “The Los Angeles office market is well positioned,” stated Hessam Nadji, Marcus & Millichap’s chief strategy officer. “It has benefited from steady employment gains, but the very limited office development pipeline will be instrumental in tightening vacancies in the coming year, particularly as the local economy builds momentum.”

              The 11801 Mississippi Ave. building was constructed in 1954 and totally renovated in 2007. The area surrounding the property is becoming one of Los Angeles’s new tech hubs in the wake of developments such as Element LA’s creative campus and the Tribeca West media campus.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Georgia Krewson Joins Marcus & Millichap’s National Hospitality Group in Nashville, TN

Georgia Krewson

NASHVILLE, TN – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that Georgia Krewson has joined the firm as an associate director of its National Hospitality Group (NHG) in Nashville, Tenn., according to Gregory A. LaBerge, the NHG’s national director.

“Georgia’s extensive experience with one of the world’s leading hospitality companies makes her an invaluable resource to our clients in Nashville, throughout the Southeast and nationwide,” says LaBerge.

“Her longstanding relationships with owners and in-depth hands-on experience with their needs and expectations will be of great value to hospitality property investors throughout the country and to our national team of investment specialists.”

            In her new post, Krewson will focus on the disposition of hospitality investment properties on behalf of clients as part of Marcus & Millichap’s newly formed Nashville hospitality team led by 20-year industry veteran Wes Tiner and featuring experienced commercial real estate investment sales professional Paul Blackburn.

Wes Tiner

            “Georgia is a great addition to our team,” says Tiner. “Her knowledge, experience and ability to advise investors make her a perfect fit for the firm’s comprehensive investment sales platform, which provides owners with a level of service that is unmatched in the industry.”

            “As an industry veteran, I was happy to see Marcus & Millichap’s growing presence in the hospitality investment sector,” remarks Krewson. “Their aggressive commitment in the space, supported by a value proposition that is unmatched in maximizing value for owners and investors, was very appealing to me. In many ways we are redefining the hotel brokerage landscape.”

            Prior to joining Marcus & Millichap, Krewson spent nearly three decades with Hilton Worldwide in Memphis, most recently as senior director, owner support, for Hilton’s Hampton Hotel brand.

Paul Blackburn

In that role, she developed strategies and managed support systems for more than 1,200 owners and management companies. Krewson has also been a senior director, Hampton Hotel performance support, where she led a team of 35 professional consultants supporting the performance of 1,500-plus hotels.

She was also a senior director, Hampton brand sales and revenue integration, and regional director, Hampton Hotel performance support.

            Krewson holds an associate’s degree in business management from Midlands Technical College in Columbia, S.C.

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

Gina Relva

Public Relations Manager

(925) 953-1716

CT Shoreline Retail Center Sells for $3.25 Million; Northeast Private Client Group Represents Seller Exclusively

  

Bridgeport, CT – Investment sales broker Northeast Private Client Group has announced the sale of Killingworth Village, a bank-anchored retail property located at 184 Route 81 in Killingworth, CT. 

David Almeida, a licensed commercial specialist in the firm’s Bridgeport office, represented the seller exclusively in the $3,250,000 transaction, which closed on June 18. 

“The successful completion of this sale is yet another positive indication of the strong demand for desirable, well-positioned retail properties,” said Almeida.  “We were able to create tremendous competition among qualified buyers to acquire this asset.”

David Almeida

The property, 4.5 miles north of the Clinton Crossings regional outlet center and I-95, comprises five buildings with nearly 20,000 square feet of leasable retail, office and residential space.   The property is anchored by net-leases with TD Bank and Subway.

The seller, Southport Holdings LLC of Trumbull, CT, held the asset for nearly a decade and is now refocusing on private real estate lending.  The buyer, Anderson Family Trust of Tampa, FL, acquired the Killingworth property as part of an IRS 1031-exchange strategy from the sale of multifamily properties in East Hartford, CT.

“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 with competitive interests in the Connecticut real estate market.”

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

Randy Savicky

Strategy+Communications

randy@strategypluscommunications.com

203.226.6156

Capital Square Realty Advisors Acquires New York Medical Office Building

Louis Rogers

NEW YORK, NY – Capital Square Realty Advisors, LLC announced today that an affiliate of the company has acquired a 17,714-square-foot medical office building in the New York hamlet of Merrick on Long Island.  The facility is 100 percent leased on a long-term basis to Orlin & Cohen Orthopedic Group.

“This is an exceptionally well located medical office building that is 100 percent leased to the largest private orthopedic practice in New York State,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

 “It’s strategically located within 16 miles of nine area hospitals, and is surrounded by densely populated residential neighborhoods on Long Island.”

 The two-story medical office building, which was completely renovated in 2009, is located at 1728 Sunrise Highway and includes: multiple waiting rooms; 12 examination rooms; five patient consultation rooms; an x-ray room; fluoroscopy suite; newly refurbished MRI suite and six private offices.

The property is easily accessible along Sunrise Highway, as well as via Southern State Parkway, Northern State Parkway and the Long Island Expressway. It can also be reached via the Long Island Rail Road and Nassau Inter-County Express bus system.

Medical office building, 1728 Sunrise Highway
Merrick, NY

Capital Square is focused on the acquisition of medical office buildings leased by leading medical practices. 

The demographics are very strong for healthcare-related real estate due to an aging population and the Affordable Care Act. 

This is Capital Square’s second acquisition of a medical office building, with many others in the acquisition pipeline.

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

Julie Leber

Account Manager

Spotlight Marketing Communications

18101 Von Karman Avenue, Suite 330

Irvine CA 92612

949-427-5172, ext. 703

julie@spotlightmarcom.com

Goddard Investment Group Acquires Fountain Place in Dallas, TX

Fountain Place

 DALLAS, TX — Atlanta-based Goddard Investment Group, LLC, has acquired Fountain Place, the iconic, 58-story office tower located near the Arts District in Dallas.

The 1.2 million-square-foot, LEED Gold-certified building is currently 88 percent occupied. The acquisition was completed through the Goddard Value-Add Office Fund I, LP.

 “Fountain Place is one of the most recognizable buildings in the Dallas skyline. Our vision for the property is to expand and refresh the public areas, making them consistent with the striking design of the tower’s exterior facade,” said Robert C. Goddard III, chairman and CEO of Goddard Investment Group.

"With our investment, this will be a truly irreplaceable building that offers all the amenities, accessibility and prestige expected from a top-tier Uptown or Arts District building.”

 Goddard plans to execute a substantial renovation and repositioning program to re-establish the building as a contemporary, Class-AA asset. Specific property improvements include refurbishing the lobby and elevator banks, and enhancing the exterior fountains and landscaping.

In addition, Goddard has plans to build a new parking garage adjacent to the building to accommodate a parking ratio substantially above market average.

Robert C. Goddard III

 Fountain Place was built in 1986 and designed by I.M. Pei. Cassidy Turley has been retained to oversee leasing at the property.

 Goddard Investment Group was founded in 2000 and is headquartered in Atlanta, with a regional office in Dallas. 

The company has acquired and managed approximately 12 million square feet of commercial property, and currently has investments in Atlanta, Dallas, Houston, Miami and Tampa. 

Goddard Value-Add Office Fund I, L.P. is a discretionary, commingled, institutional fund sponsored by Goddard Investment Group.  

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

Ellen Marsau

Jackson Spalding

emarsau@jacksonspalding.com

(214) 646-1657

Hold-Thyssen Negotiates two new leases for professional office space totaling 2,705 square feet in Trinity, FL

Carol Kinnard

TAMPA, FL  --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, with offices in Tampa, recently negotiated two new leases for professional office space in Trinity in Pasco County.  

 Richard J. Fisher, vice president / investor services in Hold-Thyssen’s Tampa office, said Transaction Specialist Carol Kinnard negotiated both transactions. 

 Kinnard represented Landlord Trinity Medical Holdings, Inc. in a five-year lease to Commoncents Wealth Advisors, LLC for 1,605 square feet in Trinity Medical and Professional Center, 8820 Belagio Drive.   

 Previously Kinnard represented the same landlord in leases with two other long-term tenants in adjacent suites, and all three transactions represent a total of 4,605 square feet in less than one year at the professional center.

 At Hunting Creek Pointe, 3610 Galileo Drive in Trinity, Kinnard represented Tenant JGI Insurance Group, LLC in an office lease agreement for 1,100 square feet in Suite 102. 

The landlord is Sunfield Homes, Inc.   The site selection process allowed Tenant JGI Insurance to understand market rates and terms, narrowing the choice to two top locations. 

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

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

NAI Realvest Negotiates New Retail Lease at Busy Daytona Beach, FL Intersection

Kimberly Manson

ORLANDO, FL – NAI Realvest recently negotiated a new lease agreement for a 3,682 free-standing retail building at 2705 North Atlantic Ave. at the intersection of Plaza Blvd. in Daytona Beach. 

 The NAI Realvest team of Jeffrey Tanner and Kimberly Manson negotiated the transaction representing the landlord, EYM Realty of Florida LLC based in Dallas.    Lake View Wireless, LLC is the new tenant. 

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