Essex Realty Group Brokers the Sale of 7038 S. Chappel Ave. in Chicago, IL

  

7038 Chappel Avenue Apartments, South Shore Neighborhood, Chicago, IL

  

Douglas Imber

CHICAGO, IL --  Essex Realty Group, Inc. is pleased to announce the sale of 7038 S. Chappel Ave. in Chicago, Illinois.

7038 S. Chappel Ave. is an attractive 25 unit courtyard building located in Chicago’s South Shore neighborhood. This property is situated just one half-block from the intersection of the 71st Street commercial corridor and Jeffery Boulevard, with immediate access to a Metra Station, CTA stops, and a Walgreens.

The sale price was approximately $690,000.

Doug Imber and Bob O’Connell represented the seller and Jordan Gottlieb represented the buyer in 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

Essex Realty Group Brokers Sale of Six-Unit Multi-Family Building in Chicago, IL

  

7002--7016 West Medill, Montclare Neighborhood, Northwest Chicago, IL

  

Jordan Gottlieb

 CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 7002-16 W. Medill.

The townhomes of Medill Row are six newer construction 3 bedroom, 2.5 bath townhome units located in an 8-row house style property located in Chicago’s Montclare neighborhood on the city’s northwest side.

The property was finished in 2008. Two of the eight units were sold in October of 2008 for $379,000 each.

The sale price was approximately $1,329,000.

Jim Darrow and Jordan Gottlieb were the brokers 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

HFF closes $152 million sale of Class A office building in Boston’s Back Bay

  

116 Huntington Avenue, Back Bay submarket, Boston, MA

Coleman Benedict

BOSTON, MA – HFF announced it has closed the $152 million sale of 116 Huntington Avenue, a trophy, 274,218-square-foot office located in Boston’s Back Bay submarket.

                HFF marketed the property for the seller, Broadway Partners, and procured the buyer, Columbia Property Trust.  Soundport Capital LLC acted as an advisor to the seller. 

Originally constructed in 1991 and continually renovated and upgraded throughout time, 116 Huntington is a boutique office building that draws on the various demand sectors in Boston’s highest renting submarket. 

 In addition to the on-site amenities, the building is within walking distance to the Shops at the Prudential, Copley Place and the MBTA’s Back Bay Station, which provides access to subway, bus, commuter rail and Amtrak services.  

Rising to a height of 15 stories, the building offers unmatched views of the Back Bay, Seaport, South End and the Charles River. 

Ben Sayles

                The HFF investment sales team representing the seller was led by senior managing director Coleman Benedict, director Ben Sayles and real estate analyst Patrick McAneny.

“Back Bay is one of the tightest markets in the country,” Benedict said.  “Given the concentrated, institutional ownership in the area, the opportunity to acquire such a trophy rarely comes along.  Columbia is going to do very well with this asset.”

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

$8.21 million sale of pink plaza shopping center in key largo, fl arranged by marcus & Millichap

   

Pink Plaza Shopping Center, 103400 Overseas Highway, Key Largo, FL

  

Jonathan Gerszberg

 KEY LARGO, 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 Pink Plaza Shopping Center, a 57,773-square foot retail property located in Key Largo, Fla.

The asset sold for $8,212,500 representing $142 per square feet and a 7.75 percent CAP rate.

Jonathan Gerszberg, a senior associate in Marcus & Millichap’s Miami office, represented the seller, a limited liability company from Iowa, and the buyer, a limited liability company from Florida.

“The Florida Keys are a unique market, significantly different than Miami, despite being so close. 

" The Pink Plaza is one of the rare trophy retail properties in the Keys, representing a unique asset to headline any investment portfolio.  We had a ton of interest, with offers from investors around the globe,” says Gerszberg.

Built in 1986, Pink Plaza Shopping Center is a 57,773-square foot, two-story shopping center which covers 2.87 acres in Key Largo, Fla. 

Key Largo, FL

Anchored by one of the top producing West Marines in Florida, the Pink Plaza, has some 50 tenants, spanning the full spectrum of business: restaurants, service oriented vendors, hard goods, soft goods, government, medical, and even executive offices.

 “The property is impeccably maintained and represents a true pride of ownership asset.

" The seller had done an amazing job managing the property, maintaining a greater than 90 percent occupancy over the last 10 years,” Jon continues.  “The buyer is looking forward owning this once-in-a-lifetime property.”

Pink Plaza Shopping Center is located at 103400 Overseas Highway in Key Largo, 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

$4.2 Million Sale of St. Cloud, FL CVX Pharmacy Arranged by Marcus & Millichap

Lori Schneider

 ST. CLOUD, 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 CVS, a 10,908-square foot net-leased property located in St. Cloud, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. 

The asset sold for $4,300,000 equating to $394 per square foot.

Lori Schneider, a senior vice president investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Mount Pleasant, SC. 

“Because the current inventory of new credit net-leased properties is low, demand for existing properties with shorter lease terms is rising,” says Schneider who has sold more than 130 drug stores nationwide. 

Built in 1999, the 10,908 square foot CVS is located on a large 2.3 acre parcel and has a double drive-thru.  

The lease is guaranteed by Holiday CVS, LLC, a subsidiary of CVS that was created when CVS acquired the Florida Eckerd locations.

The property is located at 3555 13th St., at the signalized intersection of 13th Street (Highway 192) and Neptune Road. It is accessible from both roadways. 

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

 Ryan Nee

Regional Manager

Fort Lauderdale, FL

(954) 245-3400

Charles Dunn Co. Completes $6 Million Sale of 16-Unit Multifamily Property in Santa Monica, CA

Kimberly Roberts Stepp

LOS ANGELES, CA – Kimberly Roberts Stepp, senior managing director with Charles Dunn Company, has completed the $6 million sale of a fully occupied 16-unit multifamily property at 1901 6th Street in Santa Monica, Calif.

Stepp, represented the seller, 1626 North Fuller, LLC. The buyer was Unison Investment Company and was represented by John Chu of New Life Properties, Inc. The closing cap rate was 3.7 percent.

Built in 1969 the property consists entirely of large, one-bedroom units that include recently renovated features including new windows, custom cabinetry, wood floors and new appliances. 

The property also offers controlled access, elevator, laundry room, and secure gated parking. The asset is situated just six blocks from the ocean and is a short walk to Santa Monica Pier and Main Street restaurants and shops.

“We marketed this property by featuring its prime, Santa Monica location, upside in bringing rents to market rates, and long-term appreciation of the asset,” said Stepp. “Multifamily investments in this very hot submarket will attract investors in 2015 as they continue to pay record prices which are compressing cap rates to all-time lows.”

1901 6th Street Apartments,  Santa Monica, CA

 Charles Dunn Company is one of the largest full-service regional real estate firms in the Western United States. 

Established in 1921 and headquartered in Los Angeles, the firm’s brokerage practice continues to be a market leader.

The firm also manages more than 21 million square feet of office, industrial, retail, residential and mixed-use properties for third party clients and provides construction management, architecture and design, general contracting and capital markets services.

 With more than 260 team members in nine offices, Charles Dunn Company’s reach extends far beyond its physical locations, as its experienced professionals leverage their market knowledge, relationships, and expertise to achieve and exceed client expectations. www.charlesdunn.com

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224