HFF closes $48.5 million sale of Amerige Heights Town Center in Fullerton, CA

Ryan Gallagher

IRVINE, CA – HFF announced it has closed the sale of Amerige Heights Town Center, a 163,514-square-foot, dual grocery-anchored retail center in Fullerton, California, a southern Los Angeles suburb.

               HFF exclusively marketed the property on behalf of the seller, an institutional investment manager.  Shin Yen International Pty, Ltd., represented by Randall Realty Advisors, purchased the asset for $48.5 million free and clear of existing debt.

               Amerige Heights Town Center is situated on 15.2 acres at 1895-1897 West Malvern Avenue in Fullerton at the intersection of Malvern Avenue and Starbuck Street, less than three miles from the Santa Ana Freeway (Interstate 5).  More than 213,000 people with an average household income of $81,000 and a median home value of $416,000 live within a three-mile radius.

 Completed in 2001, the center is 95 percent leased to national and regional tenants, including Barnes & Nobles, Gold’s Gym, Ross Dress for Less, Olympic Golf and T-Mobile.  The center is shadow-anchored by Target, with a full-service grocery component, and Albertsons, both of which were not included in the sale. 

CJ Osbrink

               The HFF investment sales team representing the seller was led by senior managing director Ryan Gallagher and associate director CJ Osbrink.  Michael Randall, principal at Randall Realty Advisors, represented the buyer.

“The stabilized profile of the rent roll, affluent demographics, and lack of well-positioned retail centers for sale in Orange County helped create a very competitive market for the Amerige Heights Town Center opportunity,” Osbrink said.

Mr. Wan-I Huang (James Huang) founded the Shin Yen International Enterprise Group (Shin Yen) in 1986.  Over the past 28 years, Shin Yen has successfully evolved from a residential construction and development company in Kaohsiung, Taiwan, into a global real estate investment organization with shopping center and office building portfolios in Taiwan, Australia and the United States. 

In the last few years, Shin Yen has increased its retail portfolio by acquiring three additional retail projects and they are actively pursuing additional acquisitions which fit its long-term strategy. 

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

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Hansen Realty and Centrum Partners Buy Out Partner Angelo Gordon at Bradley Business Center in Chicago, IL

Bradlee Business Center, 2500 West Bradley Place
Chicago, IL

CHICAGO, IL – The partnership of Chicago-based Hansen Realty and Centrum Partners has taken ownership of the popular North Center office and recreation complex Bradley Business Center at 2500 W. Bradley Place with the buyout of New York City-based Angelo, Gordon and Co.

“This partnership is committed to repositioning this unique space as a premier office and recreational destination on the city’s North Side,” said John Hansen, principal of Hansen Realty.

“The property consists of 500,000 square feet on 22 acres in the very desirable North Center neighborhood of Chicago. There are few commercial space opportunities like this available in the city and recent activity has proven a testament to the benefits of this property’s location and amenities.”

For more information on Bradley Business Center, visit http://bradleybusinesscenter.com/.

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

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

IPA Sells 352 Multifamily Units in West Texas

Drew Kile

MIDLAND, TX – Institutional Property Advisors (IPA), a brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of 352 multifamily units in Midland, Texas.  The property name and transaction details were not disclosed.

            IPA executive director Will Balthrope and IPA director Drew Kile represented the seller in the transaction and procured the buyer.

            “The property is a well-maintained, established multifamily asset in one of the nation’s strongest metro areas,” says Balthrope.  

“The prime location, recently rehabilitated exterior and updated landscaping made this a premier acquisition opportunity. Investors saw the potential to capture additional value and rent growth through continued enhancements.”

            “Midland’s exceptional job growth and solid long-term prospects make it one of the best markets in the nation for multifamily property performance,” adds Kile.

            Built in 1982, the property is located off State Highway 250 in Midland, one of the fastest-growing cities in the United States.

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

Gina Relva

Public Relations Manager

(925) 953-1716

IPA Sells 495 Multifamily Units in Dallas, TX

Advenir at Foxmoor Apartments, Dallas, TX

DALLAS, TX, Sept. 15, 2014 – Institutional Property Advisors (IPA), a division of Marcus & Millichap serving the needs of institutional and major private real estate investors, has arranged the sale of Advenir at Foxmoor, a 495-unit multifamily property located in Dallas. The terms of the sale were not released.

            IPA executive director Will Balthrope and IPA director Drew Kile represented the seller in the transaction and procured the buyer.

            “This property offers a prime location with direct access to dynamic retail, recreation and employment opportunities along Central Expressway,” says Balthrope.

            Built in 1974 on more than 11 acres with nearly 800 feet of frontage along Highway 75, Advenir at Foxmoor is less than eight miles north of the Dallas Central Business District.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Call for Entries Now Open for CoreNet Global Southern California

  

Kelly Reenders

SOUTHERN CA -- On Thursday, November 6, the Southern California chapter of CoreNet Global will hold its annual REmmy Awards and Charity Gala to recognize the best in corporate real estate. 

The event will be held at Vibiana, a former cathedral, located in the historic core of downtown Los Angeles.

“The REmmys are a unique opportunity to share best practices within the corporate real estate community,” said CoreNet Global Southern California Chapter Chair Kelly Reenders.

“To successfully deliver value to corporations, it takes innovation, collaboration and a fresh perspective. Our chapter is honored to do its part to recognize and celebrate the industry success.”

The Southern California chapter of CoreNet Global is focused on advancing real estate knowledge, connecting people, and promoting personal excellence through programs focused on the needs of its almost 400 local members. For information about members, programs or sponsorship, contact the chapter office at 714.282.8480 or go to www.sccorenet.org.

Tickets are $400 per person. An early bird rate of $350 per ticket is available until September 30. More information on nominations and sponsorships can be found at www.remmyawards-socal.com.

  

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

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

Essex Realty Group Brokers the Sale of a 64-Unit Mixed-Use Building in Chicago, IL

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Doug Fisher 

CHICAGO, IL –- Essex Realty Group, Inc. is pleased to announce the sale of 7100 N. Sheridan Rd. in Chicago, Illinois.

 The property is a fully renovated courtyard building consisting of 58 Apartments and 6 Retail Units in East Rogers Park.

 The property features forty (40) 1 Bd/1 Ba apartments, fifteen (15) 2 Bd/1 Ba apartments and three (3) 3 Bd/2 Ba apartments as well as six (6) retail units.

The sale price was approximately $6,350,000. Doug Fisher was the broker on the transaction.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

NAI Realvest Negotiates Sublease of 2,995 Square Foot Office at The Citadel in East Orlando, FL

  

Mary Frances West

ORLANDO, FL – NAI Realvest recently negotiated a sublease agreement for 2,995 rentable square feet in Suite 350 at The Citadel III, 5950 Hazeltine National Drive in east Orlando.

Mary Frances West, CCIM senior broker-associate at NAI Realvest brokered the transaction representing the sublandlord Cargo Aircraft Management, Inc. and the subtenant is Pentaho Corporation, an existing tenant in the Citadel III building. 

 NAI Realvest is exclusive management and leasing representative for The Citadel III.

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

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