Essex Realty Group Brokers the Sale of a 31-Unit Multi-Family Building in Chicago, IL

  

3808--16 North Sheffield Avenue, Lakeview Neighborhood, Chicago, IL

  

Kate Varde

CHICAGO, IL - Essex Realty Group, Inc. is pleased to announce the sale of 3808-16 N. Sheffield Ave.

3808-16 N. Sheffield Ave. is a 31-unit courtyard building located in the heart of Chicago’s Lakeview neighborhood. The building was converted to condominiums in 2008.

The Property is situated on the west side of Sheffield, one block north of Wrigley Field.

Public transportation is easily accessible via the CTA Addison and Sheridan Red Line stations located two blocks to the north and south, respectively.

Additionally, several bus stops are located along Clark St., two blocks to the west, and Halsted St., one block to the east.

The sale price was approximately $7,600,000.

Douglas Imber

Doug Imber and Kate Varde 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

$2 Million Sale of 18,000-SF Office Building in Lantana, FL Brokered by Marcus & Millichap

Douglas K. Mandel

LANTANA, FL,  Feb. 26, 2015 – 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 Core Corporate Center, an 18,062-square foot, three-story, class-B, freestanding professional office building located in Lantana, Fla. 

The asset sold for $2,000,000.

C. Todd Everett, a director in the firm’s national office and industrial properties group, and Douglas K, Mandel, a first vice president investments, both in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a limited liability company from Lantana, Fla. 

The buyer, who was in a 1031 Exchange, is a limited liability company from Amherst, NY.

“When available and well-priced, Palm Beach County mid-tier office buildings with a value-add component attract significant interest. 

C. Todd Everett

"This was an excellent opportunity for an investor to acquire a professional office building with outstanding visibility and high upside potential,” says Everett. 

“At 70 percent occupancy, the property has immediate cash flow and upside from lease-up as well as increasing the current market rents of some tenants.”

The building was constructed in 1983, renovated in 2011 and sits on approximately 1.17 acres. 

Located at 1177 Hypoluxo Road, the property is situated along a prominent east/west commercial artery less than a mile east of the Interstate 95 interchange and less than a mile west of US Highway 1.

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

                 

Ryan Nee

Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

Marcus & Millichap Brokers $1.7 Million Sale of Retail Plaza in Miami, FL

1879 Retail Plaza, Miami, FL

Jonathan Gerszberg

MIAMI, 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 1879 Retail Plaza, a 10,275-square foot retail center located in Miami. The asset sold for $1,700,000.

Jonathan Gerszberg, an associate vice president investments, and Andy Charry, an associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor from Miami. 

The buyer, a private investor from Venezuela, was secured and represented by Rafael Fermoselle, an associate also in Marcus & Millichap’s Miami office. 

“The seller was very clear about what he wanted from this sale, in terms of price, and we found an excellent purchaser who appreciated the opportunity.  This was a win-win-win,” says Charry. 

  Fermoselle added that, “The buyer was drawn to the stability of the income in this low vacancy market, and enjoyed the additional income from the event parking from Marlins Stadium overflow.”

Miami Marlins Baseball Stadium

Located at 1879 NW 7th Street, the multi-tenant mixed-use property is comprised of 10,275 rentable square feet of retail and office space on a 14,906-square foot lot.

 The ground floor retail space is occupied by Metro PCS and three other retail tenants. The second floor is office space occupied by seven separate tenants.

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

Marcus & Millichap Arranges Sale of 30,373-SF Office Building in Miami, FL for $5.1 Million

172 West Flagler Street, Miami, FL

Drew A. Kristol

 MIAMI, 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 172 West Flagler Street, a three-story office building with ground floor retail, located in Miami. 

The asset sold for $5,100,000.

Ryan T. Shaw, an associate vice president investments, and Drew A. Kristol and Kirk D. Olson, vice president investments, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Miami.  The buyer was a limited liability company from Jersey City, NJ.

“The property is located 1,500 feet from the Miami River, which is seeing a renaissance with not only restaurants like Salt & Pepper, Garcia’s and River Seafood & Oyster Bar, but also residential development projects like Flagler on the River,” says Shaw.

Ryan T. Shaw

“The subject property is approximately 50 percent occupied, with most tenants on short-terms leases allowing for the vacant space to be leased at market rates.”

The two anchor tenants are Federal Credit Union and Subway. The property also lends itself to future development with the current zoning allowing for 316,800 buildable square feet with a variety of uses from approximately 165 residential units to 330 hotel units.

Situated at the southeast corner of West Flagler Street and SW 2nd Avenue, the building is located at 172 West Flagler Street in Miami, FL.

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

C&W Brings Sawgrass I to Full Occupancy in Coral Springs, FL

  

Prologis Park--Sawgrass 1 Building A, Coral Springs, FL

CORAL SPRINGS, FL - Cushman & Wakefield announced today that, in conjunction with Prologis, it has leased the final availability at Prologis Park - Sawgrass I Building A in Coral Springs, Florida.

Executive Director Christopher Metzger, Executive Director Richard Etner, Jr., and Senior Director Christopher Thomson represented Prologis in signing a 31,208-square-foot lease with St. Louis-based Gateway Classic Cars.

Gateway is an automobile dealer which has been providing cars on consignment over the internet for private owners, collectors, and estates since 1999. The company currently has nine locations throughout the Midwest and South, including showrooms in Tampa, Orlando and now Coral Springs. Gateway will move in next month.

Prologis Park - Sawgrass I Building A, located at 4020 NW 126th Avenue, is a Class A, LEED-CS-certified, 99,755-square-foot industrial warehouse strategically located with immediate access to the Sawgrass Expressway. 

The building offers 30’ minimum clear height, 160’ building depth, 50’ x 50’ column spacing and rear loading with a concrete apron.

The Gateway lease brought Sawgrass I to full occupancy. With the two-building, 199,510-square-foot complex fully leased, Prologis now plans to develop another 407,000 SF of warehouse or offer build-to-suit opportunities on an adjacent 28-acre site. Prologis also has another 22-acre site nearby know as Sawgrass II, offering land sales down to three-acres or build-to-suit opportunities.

  

Jones Lang LaSalle represented Gateway. Prologis Vice President and South Florida Market Officer Scott Gregory is managing the project.

  

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

Christopher J. Metzger, SIOR

Executive Director

(954) 771-0800

chris.metzger@cushwake.com

Richard. F. Etner, Jr., SIOR

Executive Director

(954) 771-0800

rick.etner@cushwake.com

Christopher Thomson, SIOR

Senior Director

(561) 227-2020

christopher.thomson@cushwake.com  

NAI Realvest Negotiates Renewal and Expansion Lease Totaling 10,690 Square Feet of Office Space in East Orlando, FL

  

Mary Frances West

 ORLANDO, Fla. --- NAI Realvest recently negotiated a renewal and expansion totaling 10,690 rentable square feet in the Laurel Building at 3504 Lake Lynda Drive in east Orlando.

Mary Frances West, CCIM, senior broker at NAI Realvest, represented the tenant Dignitas Technologies, LLC, a modeling and simulation software developer, renewing their existing space of 8,423 rentable square feet and expanding them into an adjacent suite containing 2,267 square feet for a total of 10,690 rentable square feet.    

Landlord Crocker Partners V UCC LLC was represented by Micah Strader of CBRE.

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

Beth Payan, Larry Vershel Communications,

 407-644-4142  lversehlco@aol.com