Taylor Johnson Wins New Client in Chicago’s Old Town Neighborhood

1225 Old Town Apartments, Old Town Neighborhood, Chicago, IL

Emily Johnson

CHICAGO, IL – Taylor Johnson president Emily Johnson announces her firm now now represents 1225 Old Town Apartments, a LEED Silver-certified, mixed-use development located at 1225 N. Wells St. in Chicago’s Old Town neighborhood. 

Since opening in 2012, 1225 Old Town has commanded some of the highest rents in Chicago due to its unbeatable location in the heart of Old Town and top-of-the-line amenities and finishes.

The 16-story brick building comprises 250 luxury apartments and approximately 33,000 square feet of prime retail space along Wells Street.

The building’s coveted address made it a natural choice as the only Chicago location for Plum Market, a Farmington Hills, Mich.-based upscale grocery chain.

And, in early 2015, 1225 Old Town will become home to the Midwest’s first SoulCycle studio, a popular indoor cycling brand that has already established loyal followings in New York and Los Angeles.

For more information on 1225 Old Town, please visit 

www.1225oldtown.com or contact Kelly Shumaker at Taylor Johnson at 312-267-4519 or kshumaker@taylorjohnson.com.

RealtyTrac Reports Renting Less Affordable Than Buying in Most U.S. Markets But Not Where Millennials Are Moving the Most

Daren Blomquist

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released an analysis of fair market rents and median home prices in more than 500 U.S. counties, which shows that buying is still more affordable than renting in the majority of U.S. housing markets, while the opposite is true in markets with the biggest increase in the millennial share of the population over the last six years.

 “First-time buyers and potential boomerang homebuyers are stuck between a rock and a hard place in today’s housing market: many of the markets with the jobs and amenities they want have hard-to-afford rents and even harder-to-afford home prices; while the more affordable markets have fewer well-paying jobs and tend to be off the beaten path,” said Daren Blomquist, vice president at RealtyTrac.

“Those emerging markets with the combination of good jobs, good affordability and a growing population of new renters and potential first-time homebuyers represent the best opportunities for buy-and-hold real estate investors to buy low and benefit from rising rents in the years to come.”

 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

Waterton Associates Acquires 2460 Peachtree Apartments in Atlanta, GA

  

2460 Peachtree Tower, Buckhead Neighborhood, Atlanta, GA

Max Peek

 CHICAGO, IL – Waterton Associates LLC, a U.S. real estate investor and operator, has announced the acquisition of 2460 Peachtree Apartments, a 236-unit high-rise rental tower in Atlanta’s popular Buckhead neighborhood.

Formerly known as Bell Peachtree Battle, the community offers a mix of one- and two-bedroom apartments in a premier location along Peachtree Road, approximately one mile north of Piedmont Hospital and the Shepherd Center, two of the state’s top health centers, according to U.S. News and World Report.

 It is the seventh property acquired by Waterton in 2014, adding to the company’s existing multifamily portfolio in the Atlanta area, where Waterton owns and manages five other rental communities totaling more than 1,600 units.

“We are pleased to invest in such a well-located high-rise asset at a significant discount to current replacement costs,” said Max Peek, senior vice president, acquisitions, at Waterton Associates.

“We believe the proposed renovation plan will transform the building and allow us to narrow the gap between us and the newer product located nearby in Buckhead and Midtown.”

“The building’s amenities are a perfect complement to the surrounding neighborhood, with popular entertainment destinations like Phipps Plaza and Lenox Square Mall just a short drive away,” said Peek. 

“Residents can also walk to the nearby Publix Super Market and numerous shops and restaurants along Peachtree Road.”

Managed by Waterton Residential, Waterton’s wholly owned property management subsidiary, 2460 Peachtree continues Waterton’s commitment to excellence in customer service by providing on-site maintenance and 24-hour concierge services.

For leasing information, call (866) 754-4279 or visit www.2460peachtree.com.

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

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Berger Commercial Realty Brokers Close Three Leases Totaling More Than 30,000 Square-Feet in Fort Lauderdale, FL

  

 

Keith Graves

FORT LAUDERDALE, FL - Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced three new lease transactions from its brokers.

Berger Commercial Realty broker Keith Graves represented landlord 1600 S.E. 17th St. Causeway, LLC in leasing 8,470 square-feet of office space, located at Harbor Place in Fort Lauderdale, to insurance brokers MHG Services, Inc.

MHG was represented by John Halliday of Halliday Group Realty Advisors, Inc.

The lease terms included a renewal of the tenant's existing space and an expansion.

 Situated in the heart of Fort Lauderdale's marine district, the four-story Harbor Place building features 60,804 square-feet of space, free covered parking, an onsite bank with ATM, and FedEx and UPS drop-boxes.

Sal Bonsignore

Additionally, Graves represented landlord 6500 N.W. 15th Ave., LLC in the lease renewal and expansion of 15,000 square-feet of industrial space to commercial printers Gosselin Graphics, Inc.

 Gosselin was represented by Sal Bonsignore of Colliers International, South Florida.

Located at 6500 N.W. 15th Ave., the Gateway Industrial Center is a 28,150-square-foot flex property that features 19-foot ceiling heights, dock and grade-level loading, three-phase power, building signage and ample parking.

Graves, along with Broker Associate Greg Milopoulos, also represented Prologis in leasing 6,600 square-feet of industrial space, located at 7050 State Road 84 in Davie, to radiation protection solutions company Barrier Technologies, LLC.

Barrier was represented by Michael Safrin of The Keyes Company.

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

Marielle Sologuren

Pierson Grant Public Relations

msologuren@piersongrant.com

954-776-1999, ext. 226

Marcus & Millichap Brokers $3.16 Million Sale of Wendy’s in Plantation, FL

Wendy's, 3801 West Broward, Plantation, FL

Ronnie Issenberg

PLANTATION, 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 an absolute triple-net leased Wendy’s located in Plantation, Fla. 

The asset sold for $3,156,050 representing a 5 percent CAP rate.

Ronnie Issenberg, a vice president investments, Gabriel Britti, an associate vice president investments, and Roee E. Ben-Moshe, an associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Boca Raton, Fla.  

The buyer was a limited liability company from Boynton Beach, Fla.

“This sale-leaseback opportunity enabled an investor to acquire an absolute triple net-lease Wendy’s with zero landlord responsibilities,” says Issenberg. “Not only does the asset have a strong guarantee by an experienced and fast-growing operator but the property is scheduled for the new Wendy’s prototype remodel.”

Roee E. Ben-Moshe

At close of escrow, the existing Wendy's operator signed a brand new 20-year absolute triple-net lease which included seven and a half percent increases every five years with four five-year options.

Wendy's is located at 3801 West Broward in Plantation, Fla.

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

                                                        

 Kirk A. Felici

First Vice President/Regional Manager

Miami, FL

(786) 522-7000

Vigouroux Marketplace in Mobile, AL Sells for $5.75 million in Deal Brokered by Marcus & Millichap

Jason Cropper

MOBILE, AL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Vigouroux Marketplace, a 66,125-square foot Winn Dixie-anchored center located in Mobile, AL. The asset sold for $5,746,800 or $86 per square foot.

Andrew Chason, senior associate in Marcus & Millichap’s Mobile, AL, office, represented the seller, a limited liability company from Mobile, AL. Jason Cropper, senior associate in the firm’s Little Rock, AK office, represented the buyer, a private investment group from New York.

“The current demand for grocery-anchored shopping centers is high,” says Chason. “Our marketing campaign reached investors throughout the country and we received multiple offers from local, regional and national investors.” 

Vigouroux Marketplace, 9948 Airport Boulevard
 Mobile, AL

Vigouroux Marketplace was constructed in 1997 and is anchored by Winn Dixie and Rite Aid. 

The center is currently 92 percent occupied with Winn Dixie and Rite Aid accounting for over 81 percent of the center’s income and GLA. 

Located at 9948 Airport Boulevard in Mobile, Vigouroux Marketplace is situated at the intersection of Airport Blvd and Snow Road about a mile west of the Mobile Regional Airport.

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

Jody McKibben

Regional Manager

Memphis, TN

(901) 620-3620

Marcus & Millichap Arranges Sale of Adamsville, AL Town Center for $2.71 Million

  

Adamsville Town Center, Adamsville, AL

  

Andrew Chason

ADAMSVILLE, AL– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,announced the sale of Adamsville Town Center, a 26,026-square foot shopping strip located in Adamsville, AL. The asset sold for $2,709,000 representing $104 per square foot.

Andrew Chason, senior associate in Marcus & Millichap’s Mobile, AL, office, represented the seller, a limited liability company from Birmingham, AL. The buyer was a private investment group from Birmingham, AL.

“Adamsville Town Center is an attractive center with a healthy mix of national and local tenants,” says Chason. “The property was 94 percent occupied at the time of the sale.”

Built in 2006, the property consists of two free-standing buildings with a total square footage of 26,026 square feet. The property shares a lighted intersection with a Walmart Supercenter. 

The center is anchored by Dollar General, which accounts for 34 percent of the center's GLA. Other national tenants include: Advance America, 1st Franklin, Papa John's Pizza, Alfa Insurance and Alabama Power.

  

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

Jody McKibben

Regional Manager

Memphis, TN

(901) 620-3620

Memphis-Area Self-Storage Portfolio Sells for $16.6 Million

  

Anne Williams

MEMPHIS, TN – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a seven-property, 2,861-unit, 383,175-net-rentable-square-foot self-storage portfolio located in the Memphis, Tenn., metropolitan area.

 The commercial real estate asset’s $16,600,000 sales price equates to $43.32 per square foot. 

            The properties are:

·         Collierville Mini Storage, 50,100 square feet, 348 units, Collierville, Tenn.

·         Kirby Raines Self Storage, 49,610 square feet, 364 units, Memphis, Tenn.

·         Northwest Self Storage, 50,085 square feet, 388 units, Memphis, Tenn.

·         Southaven (Airways) Self Storage, 61,185 square feet, 550 units, Southaven, Miss.

·         Stateline Self Storage, 61,900 square feet, 378 units, Southaven, Miss.

·         Southern (Getwell & Shelby Mini Storage), 51,285 square feet, 352 units, Memphis, Tenn.

·         Winchester Self Storage, 58,470 square feet, 481 units, Memphis, Tenn.

  

Michael A. Mele

All of the properties were constructed between 1995 and 1999. The greatest distance between any two properties is just 25 miles.

Michael Mele, senior vice president investments in Marcus & Millichap’s Tampa office, and Anne Williams, senior associate in the firm’s Memphis office, represented the seller, a private investment firm based in Austin, Texas. 

Mele and Williams also represented the buyer, Simply Self Storage of Orlando, Fla.

“Strategically located within a strong MSA, these seven properties provide the new owner with a substantial market presence and the ability to balance risk between stabilized assets and value-add properties,” says Mele.

 “The market’s appetite for self-storage assets, especially portfolios, continues to be strong, and like other transactions closed this year, we received multiple offers from qualified investors interested in expanding their portfolios,” adds Williams. “We expect to see this trend continue into 2015, as long as interest rates remain low.”

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

Gina Relva

Public Relations Manager

(925) 953-1716

IPA Sells 312-Unit Multifamily Community in North Dallas, TX Suburb

Sweetwater Ranch Apartments, Richardson, TX

Will Balthrope

RICHARDSON, TX – 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 Sweetwater Ranch, a 312-unit multifamily community in Richardson, Texas. 

The terms of the commercial real estate sale were not released.

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

            “Sweetwater Ranch is an infill apartment community with proximity to major transportation arteries and employment centers at the front door of the booming Telecom Corridor,” says Balthrope.

“The previous ownership added new appliances in two-thirds of the apartments and plank flooring to one-third,” adds Kile. “The new owner is in an excellent position to drive value by completing this interior enhancement program.”

Drew Kile

The property is located near the intersection of Interstate 635 and the Central Expressway at 540 Buckingham Road in Richardson.

 The location is a short distance from the Telecom Corridor, a technology business center and site of the new $1.5 billion State Farm campus and the one million-square-foot Blue Cross & Blue Shield of Texas campus. 

The University of Texas at Dallas and Texas Health Presbyterian Hospital of Dallas are also nearby.

Sweetwater Ranch offers residents a choice of five floor plans, each with a wide range of appointments, including gourmet-style kitchens, patios, balconies, garages and carports.

Shared amenities include a private lake, a 24-hour clothes care center, a community clubhouse featuring a pool with heated spa, poolside Wi-Fi and dry sauna, recreation center, fitness facility and clubroom with fully equipped kitchen.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Central Texas Class-A Apartment Complex Sold by Marcus & Millichap in Floresville, TX

Oakland Hills Apartments, 386 Paloma Drive, Floresville, TX 

Joe James

FLORESVILLE, TX – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Oakland Hills, a newly constructed 120-unit apartment complex in Floresville, Texas. The terms of the sale were not released.

            Joe James and Kent Myers, both associate vice presidents in Marcus & Millichap’s Austin office, represented the seller, the property’s developer. James and Myers also procured the buyer, a limited liability company.

            “Floresville benefits from its proximity to San Antonio and the Eagle Ford Shale oil and gas economic development region,” says James.

“As one of the few multifamily housing options in the area, Oakland Hills is well-positioned to benefit from the region’s economic growth,” adds Myers. 

            Completed this year on an 11.15-acre site at 386 Paloma Drive in Floresville, Texas, the property is on the south side of Floresville at the intersection of Veterans Drive and Paloma Drive, minutes from Connolly Memorial Medical Center and within easy access of Highway 181, the major corridor leading to San Antonio.

Kent Myers

 There are 11 colleges and universities within a 25-mile radius, including Coastal Bend Community College in Pleasanton, Texas Lutheran University in Seguin and several in the central San Antonio area.

            Apartments at Oakland Hills feature walk-in closets, washer and dryer connections, private patios or balconies, wood floors, faux-granite countertops, dark wood cabinets, electric appliances, nine-foot ceilings, crown moldings, large windows and garden bathtubs.

Community amenities include a resident fitness center, a swimming pool, a business lounge with high-speed Internet access, gated entry, covered parking, a resident clubhouse, onsite management, and professionally landscaped grounds.

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

Gina Relva

Public Relations Manager

(925) 953-1716

63-Room West Texas Hospitality Property Trades Hands

Chris Gomes

SAN ANGELO, TX – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada,  announced the sale of Hawthorn Suites by Wyndham, a 63-room, three-story, interior corridor extended-stay hotel located off Highway 67 in San Angelo, Texas.

 The terms of the sale were not released.

            Chris Gomes, vice president investments in Marcus & Millichap’s Dallas office, along with Allan Miller, vice president investments in San Antonio, represented the seller, a Dallas-based developer, and the Dallas-based buyer.

            “Located in one of the booming West Texas energy markets, the hotel opened in June 2014 and was stabilized within five months,” says Gomes. “Within 60 days of hitting the market, we completed the sale.”

Allan Miller

            The hotel is located directly off Highway 67 at 5750 Sherwood Way in San Angelo, Texas, eight miles from the San Angelo Regional Airport, 10 minutes from Angelo State University and near Goodfellow Air Force Base.

Business travelers can easily commute between the hotel and oil, steel, medical and technology companies’ headquarters located less than five minutes away, including AT&T, Blue Cross Blue Shield, J Oil & Gas Inc., River Crest Hospital, Suddenlink Communications and TXU Energy.

 San Angelo is an up-and-coming energy market located in Texas’s Cline Shale region.

Built in 2014, this Hawthorn Suites by Wyndham hotel has a stucco exterior and a pitched roof. All suites are equipped with kitchens. The hotel offers a complimentary hot breakfast and evening social hours to its guests. Several dining options are located within walking distance.

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

Gina Relva

Public Relations Manager

(925) 953-1716

IPA Arranges Sale of North Dallas, TX Apartment Property

Will Balthrope

                                                                                                DALLAS, TX – Institutional Property Advisors (IPA), a division of Marcus & Millichap Inc. specializing in serving institutional and major private real estate investors, is pleased to announce the sale of Hunter’s Hill, a 436-unit apartment community in North Dallas. The terms of the commercial real estate sale were not released.

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

Hunter’s Hill is located at the intersection of two major thoroughfares, Midway Road and Frankford Road, less than one-half mile from the Dallas North Tollway and President George Bush Turnpike.

 Home to more than 651,000 employees and over 30 million square feet of office space, this area along the Dallas North Tollway is known as the North Dallas “Platinum Corridor.” 

A Kroger Signature-anchored shopping center is located immediately across the street from the property and more than six million square feet of shopping and retail is nearby.

Drew Kile

            “Hunter’s Hill is a highly visible, prominently situated infill apartment community that presents the new owner with an opportunity to capture additional value with the completion of the remaining capital improvements,” says Balthrope.

“With limited supply in the area, the new owner can expect to capitalize on strong tenant demand in an expanding multifamily market,” adds Kile.

Community amenities at Hunter’s Hill include controlled access gates, a fitness center, indoor basketball and racquetball courts, two swimming pools with water volleyball, a business center with Wi-Fi, a large clubroom with plasma TV and a billiards table, package receiving and free assigned covered parking.

Apartments feature built-in bookshelves, extra storage space, ceiling fans, full-size washer and dryer connections, large closets and private fenced patio or balcony.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Marcus & Millichap Capital Corp. Closes $29.6 Million Acquisition Loan in Westchester County, NY

Christopher Marks

RYE, NY – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $29,625,000 acquisition loan for International Corporate Center, a Class A office building in Rye, N.Y.

Located at 555 Theodore Fremd Ave., the 168,499-square foot property was developed in 1990. Christopher Marks, an originator in the Manhattan office of Marcus & Millichap Capital Corp., arranged the financing.

            “Chris and his team did an excellent job assessing the client’s business plan for the asset and delivering the optimal capital markets solution based on it,” said John Wilcox, vice president of MMCC.

            The 10-year, fixed-rate CMBS loan, with five years interest-only, amortizes over 30 years at a rate of 4.32 percent and 75% LTV.

        

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

Gina Relva

Public Relations Manager

(925) 953-1716

Two Single-Tenant Industrial Properties in Northern Illinois Listed by Marcus & Millichap for $48.7 Million

  

Robert Horvath

BOSTON, MA  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced it has retained the exclusive listings for two single-tenant industrial properties in northern Illinois.

 The investment real estate assets are a 429,164-square-foot manufacturing facility triple-net leased by Federal Signal Corp. in University Park, Ill. and a 217,011-square-foot manufacturing facility triple-net leased by the Elgin Sweeper Co. in Elgin, Ill.

The listing price for the Federal Signal Corp. facility is $28,998,497 and the Elgin Sweeper Co. building is on the market at $19,719,021.

            Robert Horvath, vice president investments and Todd Tremblay, vice president investments, both in Marcus & Millichap’s Boston office, are representing the seller, a private investment and development group.

Todd Tremblay

John Przybyla, first vice president and regional manager/managing broker in the firm’s Chicago Downtown office, is the firm’s broker of record in Illinois.

            “Elgin Sweeper has occupied its facility in Elgin since the 1960s,” says Horvath, “and in the past year, Federal Signal Corp.—Elgin Sweeper’s parent company—has spent more than $4 million on the University Park property.”

            “Both properties have eight-plus years remaining on their original lease terms, which have annual rent escalations scheduled and five-year renewal options,” adds Tremblay.

            Built in 1972 on 40 acres, the Federal Signal Corp. facility is located off Interstate 57 within the Governors Gateway Industrial Park at 2645 Federal Signal Drive in University Park, Ill.

 Home to more than 60 manufacturing and service businesses, including National Tube Supply and Anvil International, the park is approximately eight miles south of Interstate 80 in Will County, Ill.

John Przbyla

            Located at 1300 Bartlett Road in Elgin, Ill., the Elgin Sweeper Co. building was constructed in 1967 on 19 acres. 

The facility has a highly visible location in an area with more than 212,249 people within a five-mile radius and a population of 362,675 within a seven-mile radius. Elgin Sweeper has been designing and manufacturing street sweepers since 1914.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Vonezell Pittman Joins Marcus & Millichap Capital Corp. as Associate Director in Charlotte, NC Uptown Office

Vonezell Pittman

CHARLOTTE, NC – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has hired Vonezell Pittman as associate director in the firm’s Charlotte, N.C. office, according to John Wilcox, MMCC’s eastern division vice president

            In his new position, Pittman will be responsible for securing commercial debt financing for an array of property types including multifamily, office, industrial, retail, manufactured housing and hospitality. He will be primarily focused on clients based in the Carolinas.

“Vonezell’s years in the business and commercial real estate financing expertise make him a great fit for MMCC,” says Wilcox. “His industry knowledge and experience will be of great value to our clients.”

            Prior to joining MMCC, Pittman was the president of Pittman Financial Group LLC where he placed commercial mortgages for the acquisition and refinance needs of private clients in the Southeast. He is a former collegiate and professional athlete.

            Pittman graduated from Gardner-Webb University with a bachelor’s degree in business.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Emerald Coast Self-Storage Facility Sells for $10 Million in Santa Rosa Beach, FL

Stacey Gorman

SANTA ROSA BEACH, FL – 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 Seagrove Beach Self Storage, a self-storage facility in Santa Rosa Beach, Fla. featuring 577 climate-controlled storage units.

The $10,000,000 sales price equates to $153 per square foot, which sets a new record for self-storage facilities of this size sold in the Florida Panhandle so far this year.

            Michael Mele, senior vice president investments in Marcus & Millichap’s Tampa office, and Stacey Gorman, senior associate in the firm’s Atlanta office, represented the seller, an Atlanta-based family trust, and the buyer, a private operator based in South Florida.

            “Seagrove Beach Self Storage is an extremely high-quality asset with historically high occupancy rates,” says Mele. “It will make a great addition to the new owner’s portfolio.”

Michael A. Mele

“The acquisition gives the purchaser significant market share with very limited competition,” adds Gorman. 

“Restrictive building regulations combined with the high cost of land in Santa Rosa severely limit any new competitors from entering the market.”

Built in 2006, the 65,540-square-foot facility is located at 4297 East County Highway 30A— also known as Scenic 30A—in Santa Rosa Beach, Fla. 

The property serves the 16 beach communities of South Walton, all of which are located along a 26-mile stretch of Northwest Florida’s famed Emerald Coast.

Each community features a tranquil setting enforced by strict zoning requirements, luxury beach houses, upscale restaurants and art galleries. 

In 1998, The Truman Show starring Jim Carrey was filmed in the Seaside beach community.

Seagrove Beach Self Storage features one three-story building, a manager’s leasing office, electronic gate access, computerized security, commercial and residential spaces, freight elevators and a sprinkler system.

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

Gina Relva

Public Relations Manager

(925) 953-1716

$11.5 Million Ocean County, NJ Shopping Center Sale Arranged by Marcus & Millichap

  

Michael Lombardi

 WHITING, NJ– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Whiting Town Center, an approximately 113,000-square-foot grocery-anchored town center in Whiting, N.J.

The $11.5 million sales price equates to $101 per square foot. Whiting Town Center includes pad sites, in-line retail space and medical office tenants. The center is anchored by Sav-a-Lot, Wells Fargo and Dollar General.

            Michael Lombardi, vice president investments, represented the seller, a New York City-based owner. The acquisition completes a 1031 exchange for the buyer, a Staten Island-based owner.

            “More than 30 percent of the center is leased to credit-rated tenants and many of the other tenants have been established in this location for more than 10 years, including some medical office tenants with well-established practices,” says Lombardi.

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

Gina Relva

Public Relations Manager

(925) 953-1716