RealtyTrac Reports Distressed Sales and Short Sales Down to 14.3 Percent of U.S Residential Sales

Daren Blomquist

IRVINE, CA— RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its May 2014 Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace of 5,147,550 in May, virtually unchanged from April and an increase of less than 1 percent from May 2013.

“Distressed sales continue to represent a smaller share of the overall sales pie nationwide, helping to boost median home prices higher given that distressed sales tend to be in lower price ranges,” said Daren Blomquist, vice president at RealtyTrac.

“When broken down by average price range, U.S. sales are clearly shifting away from the lower end. Properties selling below $200,000 represented 50 percent of all sales in May, but that was down from a 55 percent share a year ago.

“ Meanwhile, the share of homes selling above $200,000 increased from a 45 percent a year ago to a 50 percent in May 2014.”

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

Jennifer von Pohlmann

PR Manager

Office: 949.502.8300 ext 139

jennifer.vonpohlmann@realtytrac.com

Marcus & Millichap Arranges Sale of 32-Unit Apartment Building in Stuart, FL for $2.3 Million

Brandon J. Rex

 STUART, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Hemingway at Stuart, a 32-unit apartment property located in Stuart, FL. The asset sold for $2,325,000.

Brandon J. Rex, a vice president investments in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor from Fort Lauderdale, FL. 

The buyer, a private investor from Calif., was secured and represented by Adam G. Duncan, an associate, and Joseph P. Thomas, a vice president investments, also in Marcus & Millichap’s Fort Lauderdale office. 

“Hemingway at Stuart offered an investor the ability to acquire a well-located property in close proximity to downtown Stuart,” says Duncan.

Hemingway at Stuart Apartments, Stuart, FL

“We created a tremendous amount of interest on this deal.  There were numerous offers not only from local and regional investors but also from out-of-state buyers.

“ We procured a 1031 exchange buyer from Southern California who aggressively pursued and ultimately won the deal.  This transaction is a testament to our ability to reach a national pool of qualified buyers as well as identify 1031 exchange properties for our clients,”

Hemmingway at Stuart consists of two two-story buildings comprised of 10 one-bedroom/one-bathroom units, eight two-bedroom/one-bathroom units, and 14 two-bedroom/two-bathroom units. The property is in close proximity to downtown Stuart at 1600 S. Kanner Highway in Stuart, FL.

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

Ryan Nee

Regional Manager

Fort Lauderdale, FL

(954) 245-3400

    

Cushman & Wakefield’s Rick Solik Earns CoreNet Global's MCR Designation

Rick Solik

ORLANDO, FL – Cushman & Wakefield is pleased to announce that Rick Solik, Senior Director of Office Brokerage Services, has been awarded commercial real estate’s most prestigious designation — CoreNet Global's Master of Corporate Real Estate (MCR).

 Solik is one of only 90 global corporate real estate executives to earn the MCR in 2014.

The CoreNet Global MCR professional designation was established in 1982, and is part of a comprehensive career development program for the corporate real estate industry.

The MCR has been awarded to 2,114 individuals since its inception, and provides essential skills that focus on critical business issues, and reflects strategic competence and successful experience as a corporate real estate expert.

“The number of MCR graduates in the last few years is a testament to the importance and respect of the designation within the corporate real estate industry,” said Angela Cain, CEO of CoreNet Global.

Angela Cain

“Rick joins a distinguished class of MCR graduates, who have received extensive training and practical experience, and demonstrated professional competence and a high level of industry knowledge in the field.”

"We are extremely proud of Rick achieving the MCR designation," said Cushman & Wakefield's Larry Richey, Senior Managing Director and Market Leader for Central and North Florida. "It will benefit our Orlando clients and our Orlando office colleagues who work with Rick every day."

Solik, who joined Cushman & Wakefield's Orlando office in 1984, has successfully completed more than 6.1 million square feet of office projects, totaling $1.8 billion in transaction volume.

He was recently awarded Unique Deal of the Year by NAIOP and recognized by The Orlando Business Journal for the Best Deal of 2012-13.

Larry Richey

CoreNet Global is the world’s leading professional association for corporate real estate (CRE) and workplace executives, service providers and economic developers. 

CoreNet Global’s over 8,000 members, who include 70% of the top 100 U.S. companies and nearly half of the Global 2000, meet locally, globally and virtually to develop networks, share knowledge, learn and thrive professionally.

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

david.meyer@cushwake.com

Silver Cross Hospital Partners with HSA PrimeCare to Develop 30,000 SF On-Campus Business Center in New Lenox, IL

Dan Miranda

CHICAGO, IL — Dan Miranda, president of HSA Commercial Real Estate, and John Wilson, president of HSA PrimeCare, announced that Silver Cross Hospital has selected HSA PrimeCare to develop a business center to be located on the east side of the hospital campus at the intersection of Silver Cross Drive and Cedar Crossings Drive in New Lenox, Ill.

The two-level, 30,000-square-foot facility will offer the hospital’s growing staff of employees a comfortable working environment within a short walk to each of the medical campus’ numerous facilities.

HSA PrimeCare plans to break ground in July 2014, and projected occupancy for the building is January 2015.

 HSA PrimeCare first partnered with Silver Cross Hospital in 2008 to develop and manage the two-story, 56,000-square-foot medical office building that includes the Ann & Robert H. Lurie Children's Hospital of Chicago physician offices, Silver Cross Center for Women’s Health, and Hinsdale Orthopaedics as prime tenants.

John Wilson

 In 2011, Silver Cross Hospital again selected HSA PrimeCare for the development of a state-of-the-art, 22,500-square-foot cancer center operated by Silver Cross Hospital and University of Chicago Medicine.

 “With the rapid growth in staff and services at Silver Cross Hospital, an on-campus office building has become an absolute necessity to give the hospital’s team of professionals a convenient and secure space in which to work,” said Dan Miranda.

“We at HSA are pleased to be able to assist with the campus’ strategic growth and to continue building on our long-standing partnership with Silver Cross.”

  

Itasca, Ill.-based Premier Design + Build will serve as the project’s general contractor, and Partners in Design Architects with offices in Riverwoods, Ill., and Kenosha, Wis., is responsible for the design services.

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

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

         

Hunter’s Creek Plaza in South Orlando, FL Sells for $6.5 Million

Brian Carolan

ORLANDO, FL -- Crossman & Company announced this week that Hunters Creek Plaza, located at 2109 Town Center Boulevard, Orlando, FL has been sold.  This 28,606 square foot, SuperTarget shadow-anchored center traded for $6.5 million to a private investor. 

 Hunter’s Creek Plaza is situated on a primary retail corridor, South Orange Blossom Trail, in south Orlando. The property is 100% leased and was originally constructed in 2002.

 “Hunters Creek Plaza is a well-positioned center in a growing part of south Orlando.  The center includes a diverse tenant mix that will benefit from increased traffic created by upcoming retail and residential projects in the area. ” said Brian Carolan, Director at Crossman & Company. 

 All Hunter’s Creek Plaza tenants and business will remain unaffected by the sale of this property.  Current tenants include Once Upon a Child, Axis Tan, Springleaf Financial, , America’s Urgent Care, Buffalo Wings, Great Clips, Sally Beauty Supply, Marco’s Pizza, GameStop, Inc., and Payless Shoe Source.

 Brian Carolan exclusively represented the owner in the sale of this property to a private investor.

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

Claire Pagán

Crossman & Company

cpagan@crossmanco.com

407.581.6223