Tuesday, March 10, 2015

Fernbrook Florida to Develop Sabbia Beach, Luxury Oceanfront Condominiums in Pompano Beach, FL; First “Toes in the Sand” Project in Pompano Beach in Nearly a Decade

Sabbia Beach Condos, Atlantic Ocean View, Pompano Beach, FL

POMPANO BEACH, FL  — Fernbrook Florida, LLLP announces Sabbia Beach, the first new luxury oceanfront condominium development to be built in Pompano Beach in nearly a decade.  The project is already 25 percent reserved before its official launch.

“Buyers looking for new construction directly on the sand will find one of the very few places left to experience this lifestyle in South Florida,” said Danny Salvatore, a partner in Fernbrook Florida, an affiliate of Fernbrook Homes in Canada. “Future residents of Sabbia Beach will have the Atlantic Ocean as their backyard.”

Danny (left) and son  Joseph Salvatore

 Sabbia Beach, designed by world-renowned Arquitectonica, will be built on one of the last remaining parcels of land located on a 3-mile stretch of pristine shoreline at 730 North Ocean Blvd. 

Lisa Whitaker
These 72 intimate residences include two-, three- and four-bedroom residences, two penthouse suites and four lanai residences. 

They will have floor-to-ceiling, sliding-glass doors leading to balconies offering ocean, city and Intracoastal views. Pre-construction prices will start in the low $900,000s.

 The 19-story project will be nestled less than a mile north of the well-known Pompano Beach pier, putting residents close to outdoor shops, live entertainment and fine dining.

Within the development, tropical lush landscaping will lend itself to resort-style amenities designed by Interiors by Steven G. that include a state-of-the art fitness center, treatment massage rooms, tasting room, designated yoga area, 24-hour security and valet.

“Sabbia Beach embraces the sophisticated, yet beach-chic lifestyle buyers are seeking,” said Lisa Whitaker of Hemisphere Sales Group, which is managing sales for Sabbia Beach.

“It’s an ideal location for those who want to experience oceanfront living year round, including empty nesters looking to downsize without having to sacrifice lifestyle and living space.  It’s also ideal for those who desire a second or third home.”

Amy Ballon
 “Buyers are moving north from Miami and Fort Lauderdale as oceanfront land has become rare and more expensive,” said Amy Ballon, a partner in Hemisphere Sales Group. 

 “Our developers understand this trend and have set out to create a landmark building.”

While sales have already begun, the development team is planning to build an on-site sales gallery which is expected to open in mid-spring.  

Groundbreaking is expected in the Fall of 2015 with expected completion in 2017.

For more information on Sabbia Beach or to schedule an appointment, please contact 954-781-9700 or visit www.SabbiaBeachCondos.com

 Sabbia Beach is the shared vision of prominent builders who collectively have more than 55 years of experience in creating unique, luxurious, waterfront residential communities across the Western Hemisphere.

 Danny Salvatore, along with his son Joseph Salvatore, lead Fernbrook Homes in Ontario, Canada. 

Rendering of Residences at Pier 27, Toronto, Canada
Since its inception nearly four decades ago, the company has developed more than 4-million square feet of residential high-rises and more than 35,000 single-family homes in 100 different communities.

 Their condominium projects, including L Tower, Pier 27, and the internationally acclaimed Absolute City Centre, have transformed Toronto’s skyline.

Federico Fernandez heads Venezuelan conglomerate Grupo Fernandez. The company excels in a host of industries and today is Venezuela’s largest construction company. Its portfolio includes 50 residential condominiums in the country’s top cities, as well as hotel and condominium projects in Texas and Florida.

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

Laura Burns, Ilana Tescher


CBRE Orlando Brokers Sale of Class A Property at 5900 Lake Ellenor Drive, Orlando, FL

Lakeshore Center, 5900 Lake Ellenor Drive, Orlando, FL

Ron Rogg
Orlando, FL  – CBRE arranged the sale of a 133,075-square-foot Class A office property located at 5900 Lake Ellenor Drive, Orlando, FL.

ORLANDO, FL -- CBRE’s Ron Rogg and Chip Wooten exclusively represented the seller in the transaction.

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

Ronald J. Rogg, CCIM
Executive Vice President
+1 407 839 3194

Capital Square Realty Advisors Strengthens Asset Management Team with Industry Veterans Rick Burnett and Jerry Conyers

Rick Burnett
GLEN ALLEN, VA (March 10, 2015) – Capital Square Realty Advisors, LLC announced today that property and asset management veterans, Rick Burnett, CPM, CCIM, RPA®, CSM, and Jerry Conyers, have joined the company as executive vice president, asset administration, and associate vice president, asset administration, respectively. 

 Burnett and Conyers are responsible for asset and property administration for Capital Square Realty Advisors’ growing real estate portfolio, which currently totals more than $250 million of healthcare, multifamily, retail, parking and manufactured housing properties across 13 states.

 “Capital Square Realty Advisors has grown tremendously since our founding in 2012. We are fortunate to add highly credentialed industry veterans to strengthen our asset management capabilities,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

Jerry Conyers
“Burnett and Conyers have successfully managed billions of dollars of investment grade real estate through multiple real estate cycles. Their extensive management knowledge and expertise adds tremendous value to Capital Square’s DST/1031 exchange platform.”

 Burnett has directly managed in excess of $3 billion of commercial real estate and holds Certified Property Manager (CPM), Certified Commercial Investment Member (CCIM), Real Property Administrator (RPA®), and Certified Shopping Center Manager (CSM) designations.

He previously served as an executive vice president of asset management with Grubb & Ellis Company, as well as executive director of USAA Realty Company’s western region, responsible for operations and leasing for its commercial real estate assets.

During an extensive career, he has also served as vice president, branch site acquisition manager in Great Western Bank’s Corporate Properties division, where he oversaw a portfolio of office, industrial and retail properties in Southern California, as well as vice president, real estate asset manager with Heron Financial. Burnett earned a bachelor’s degree from the University of Phoenix.

Louis J. Rogers
 Prior to joining Capital Square, Conyers held asset management and property administration positions with several notable national real estate firms, including Kennedy Wilson, Trammell Crow, Legacy Partners and Grubb & Ellis Company, where he helped manage a portfolio in excess of 2 million square feet. 

Throughout his 20-year career, he has been responsible for retail, office, medical office and industrial buildings.

 Capital Square Realty Advisors, LLC specializes in the creation and management of commercial real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure.

Louis J. Rogers, founder and chief executive officer of Capital Square Realty Advisors, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DST, tenant-in-common, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.

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

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703
509-338-5676 - cell

HFF secures $32 million in financing for development of Hyatt Place in Arlington, VA

Hyatt Place Arlington, Arlington, VA

WASHINGTON, D.C.  --  HFF announced today that it has secured $32 million in financing for the development of the Hyatt Place Arlington, a 161-key, select-service hotel in Arlington, Virginia.

HFF worked on behalf of the borrower, a partnership between Schupp Companies and LodgeWorks Partners, L.P., to secure the five-year senior construction loan through EagleBank. 

Additionally, HFF arranged mezzanine financing on behalf of the borrowers through Endeavor Real Estate Group, Ltd.

                The new Hyatt Place Arlington will be located at 2401 Wilson Boulevard at the intersection of Wilson Boulevard and North Adams Street in the Rosslyn-Ballston corridor one block from the Courthouse Metro (Orange Line) and the Arlington County Courthouse.

Cyrus Vazifdar

In addition to the 161 hotel rooms, the hotel’s 93,000 square feet will contain 1,200 square feet of street-level retail space, a cafĂ© and bar on the first floor and a two-level underground parking garage.  

The hotel, which broke ground in January 2015, will be completed in 2016.

The HFF team was led by managing director Mark Remington and associate directors Cyrus Vazifdar and Neil Campbell.

“Schupp Companies and their partners are dedicated to the Hyatt Place Arlington obtaining LEED Gold Certification, which would make the property Arlington’s first LEED Gold hotel and Hyatt’s first LEED Gold Hyatt Place in the United States,” Remington said.

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


Crossman & Company Arranges Deals Totaling 24,350 SF at Southgate Shopping Center in Lakeland, FL

Craig Katterfield
LAKELAND, FL – The historic Publix anchored retail center, Southgate Shopping Center in Lakeland, Florida, renews the 22,022 SF lease for Office Depot. 

Located on South Florida Avenue, the iconic design has exceptional curb appeal and includes notable tenants such as Ace Hardware, Five Guys and Grow Financial Credit Union.

Crossman & Company’s Senior Associate, Craig Katterfield, CCIM, represented the landlord during the deal. 

Katterfield states, “It was a great experience working with Office Depot’s real estate team to bring this deal to completion. We are looking forward to their continued success at Southgate Shopping Center.”

In addition, Craig completed a lease agreement with AT&T Wireless.  

The tenant signed a five year lease for the 2,328 SF freestanding building, located adjacent to the Southgate Shopping Center. 

Katterfield represented the landlord and worked with Sue Haskel of Haskel Realty Group, who represented the tenant.

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

Sydnie Cobb

 Crossman & Company

Cushman & Wakefield Brokers Sale of Congress Industrial Square in Delray Beach, FL

Congress Industrial Square, Delray Beach, FL

Matthew McAllister
DELRAY BEACH, FL - Cushman & Wakefield announced today that is has brokered the sale of Congress Industrial Square, a ±25,000-square-foot showroom/warehouse in Delray Beach, Florida.

Senior Director Christopher Thomson, Associate Director Matthew McAllister, Executive Director Chris Metzger, and Executive Director Rick Etner represented Congress Industrial Square, LLC in the sale of the multi-tenant industrial space to Delray Business Center, LLC. 

The transaction was valued at $2,725,000.

Congress Industrial Square was built in 2000 and is located at 125 North Congress Avenue. It features 24’ clear ceiling heights, one dock-high door, 18 grade-level doors and 90 parking spaces. The facility is 100-percent leased and offers immediate access to Interstate 95 and Atlantic Avenue.

Christopher Thomson
The property is located in the Palm Beach industrial market which has been buoyed recently by increased seaport activity. As users clamor to capitalize on this economic upswing, the demand for assets like Congress Industrial Square has increased.

“Activity at the ports increased, providing new opportunities for the region’s many logistics and trade related firms,” reads Cushman & Wakefield’s Q4 2014 Palm Beach Industrial MarketBeat Report.

“Proximity to mass distribution markets, ports, and freeways add to the heightened demand … however, land is in short supply and very expensive, so there is a very high barrier of entry for new development projects.”

The dearth of available product has not deterred investors. They have simply discovered other avenues into the market.

“Pricing has pushed some investors out of the local distribution market,” explained Thomson. “They’re still looking to place money, though, and flex product is currently a very viable and desirable option.”

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

Christopher Thomson, SIOR
Senior Director
(561) 227-2020