Hartman Simons Adds Veteran Attorneys James Budd in Atlanta, GA and John H. Lewis in Raleigh, NC

James Budd

ATLANTA, GA (July 28, 2014) – Hartman Simons & Wood (Hartman Simons), the nation’s leading commercial real estate law firm, has hired veteran attorneys James Budd and John H. Lewis. Each will serve as a senior counsel with the firm.

Budd, most recently with the Atlanta office of Stites & Harbison, has more than a decade of experience representing clients across the nation in commercial real estate and finance matters.

 He represents both lenders and borrowers in financings on office, retail, multifamily, industrial and mixed-use projects. Budd also represents developers in the acquisition, disposition and leasing of real estate.

Lewis, who joins Hartman Simons from The Law Offices of John H. Lewis PLLC in Raleigh, North Carolina, has practiced commercial real estate law for more than 30 years and has represented clients in a wide range of matters — acquisitions, dispositions, developments and financings — involving virtually all property types.

His career has focused in large part on the representation of national and regional retailers and developers.

 Budd will work in Hartman Simons’ Atlanta office, while Lewis is based in Raleigh.

John H. Lewis

“James and John bring exceptional skill and experience to the wide-ranging commercial real estate expertise at Hartman Simons,” said Gil Y. Burstiner, managing partner of the firm.

“Commercial real estate has weathered the recession-induced doldrums, and activity within the industry is coming back in a big way.

"We are enjoying an extremely busy year, and James and John will help us to continue to provide our growing client base with excellent representation.”

 Budd is a graduate of the Emory University School of Law. Lewis received his law degree from the University of Florida.

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

Stephen Ursery

The Wilbert Group

404.549.7150 – office

404.405.2354 – cell

sursery@thewilbertgroup.com

Marcus & Millichap Arranges Sale of 3,391 Acres in Glen Saint Mary, FL for $4.55 Million

Paul Bouldin

GLEN SAINT MARY, FL, July 28, 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 3,391 acres of land, located in Glen Saint Mary, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The asset sold for $4,550,000.

Paul Bouldin, a senior associate in Marcus & Millichap’s Tampa office, represented both parties in the transaction.

The property is located in Glen Saint Mary, Florida, approximately one mile north of Interstate 10 on County Road 125 in Baker County. 

Glen Saint Mary is one mile west of Macclenny, the county seat and is considered to be in the Jacksonville MSA, approximately twenty-miles west of the Jacksonville city limits. 

It was previously part of a proposed Development of Regional Impact (DRI) that was planned for mixed-uses including a 55+ age restricted single-family residential community.

“This project never became a reality and remained a timber tract until most of the trees were harvested in 2013,” says Bouldin. 

“The property was entangled in Bankruptcy Court and disputes between partners, but this sale allowed the prior owners to resolve their issues and repay their obligations,” adds Bouldin.

“The buyer purchased the property as a long-term investment and plans to continue its agricultural use until development again becomes feasible.”

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

San Francisco Peninsula Apartment Complex Sold by Marcus & Millichap for $10.8 Million

Viking Apartments, Burlingame, CA

BURLINGAME, CA, July 28, 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 Viking Apartments, a 35-unit apartment property in Burlingame, Calif. 

The $10,800,000 sales price equates to $308,571 per unit.

            Tom Doglio, vice president investments, and Richard Reisman, associate, both in Marcus & Millichap’s Palo Alto office, represented the seller, members of a family that owned the property for over 50 years. Adam Levin, vice president investments, also in the firm’s Palo Alto office, represented the buyer, a local family trust.

Adam Levin

            “The acquisition of Viking Apartments provides the new owner with an outstanding opportunity to reposition the property through both renovation and resetting the existing rents, which are currently significantly below market rate,” says Levin. “Nearby properties that have recently executed similar strategies are now demonstrating significant gains.”

            Built in 1958, the 21,007-rentable-square-foot property is located in an affluent neighborhood two blocks from Burlingame Avenue at 500 El Camino Real in downtown Burlingame, Calif

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

Gina Relva

Public Relations Manager

(925) 953-1716

South Florida Shopping Center Sells for $13.8 Million

Douglas K. Mandel

FORT LAUDERDALE, FL, July 28, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the of sale Plaza Del Mar, a 32,079-square-foot shopping center in Fort Lauderdale, Fla. The $13.8 million sales price equates to $430 per square foot.

            Douglas K. Mandel, a first vice president investments in Marcus & Millichap’s Fort Lauderdale office, represented the seller, South Florida Residential LLC. The buyer is a private investor from Brazil.

            “Plaza Del Mar is a top-quality asset in a high-barrier-to-entry market,” says Mandel. “The offering attracted a great deal of attention from the retail property investment community and the transaction closed within a relatively short timeframe.”

            Constructed in 1984 and renovated in 2011, Plaza Del Mar is located at 1451 North Federal Highway in Fort Lauderdale with direct frontage on U.S. Highway 1.  

Plaza del Mar Shopping Center, 1451 North Federal Highway
Fort Lauderdale, FL

At the time of the sale, Plaza Del Mar was 84 percent leased to a variety of local and national retailers and restaurants. 

Tenants include Lime Fresh Mexican Grill, Jimmy John’s, Joe’s Crab Shack, Sally Beauty Supply and MetroPCS.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Marcus & Millichap Sells Suburban Cleveland, OH Grocery-Anchored Shopping Center for $34.3 Million

  

Erin Patton

BEACHWOOD, OH, July 28, 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 Pavilion Shopping Center, a 249,873-square-foot shopping center east of Cleveland in Beachwood, Ohio.

 The $34.3 million sales price equates to $137 per square foot.

            Scott Wiles, vice president investments and Craig Fuller, associate vice president investments, both in Marcus & Millichap’s Cleveland office, along with Erin Patton, vice president investments in the firm’s Columbus office, represented the seller, a Cleveland-based private joint venture.

 Wiles, Fuller, Patton and CJ Jackson, an associate in the Columbus office, represented the buyer, Devonshire REIT of Whitehouse, Ohio.

            “Pavilion Shopping Center is a well-established, stabilized shopping center in one of Ohio’s strongest suburban settings,” says Wiles. “The center is anchored by Giant Eagle, Cleveland’s No. 1 grocery operator.”

The Pavilion Shopping Center, Beachwood, OH

            The property is located near Interstate 271 at 24055 Chagrin Blvd., which features traffic counts that exceed 28,000 vehicles per day. The average annual household income within one mile of the center is $146,700.

The shopping center is surrounded by the Cleveland metropolitan statistical area’s premier office submarket, which features the newly built $117 million world headquarters of the Eaton Corp., a power management company with 2013 sales of $22 billion.

Scott Wiles

            Pavilion Shopping Center is co-anchored by Stein Mart, Marshalls, Big Lots, Petco and Michaels. Two freestanding out-parcel buildings leased to Ruby Tuesdays and Huntington National Bank were included in the sale.

            Home to 5,500 families, more than 3,000 businesses and regional retail centers featuring Saks Fifth Avenue, Nordstrom, Tiff­any’s and Apple, Beachwood, Ohio attracts more than 100,000 people every day for business, healthcare, shopping or entertainment purposes.

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

Gina Relva

Public Relations Manager

(925) 953-1716