Berger Commercial Realty Brokers Close Several Leases Across Florida

Judy Dolan

FORT LAUDERDALE, FL - Berger Commercial Realty brokers Robert Dabrowski, Judy Dolan, John Forman, and Greg Milopoulos recently closed multiple lease transactions in Greenacres, Coconut Creek and Tampa.

Greenacres

Dabrowski and Forman represented tenant Southwestern Marketing, Inc. in leasing 775 square-feet of office space from David Associates V, LLC. 

Southwestern Marketing moved into suite 306 of a three-story medical, office and retail building that sits just east of Jog Road at 5700 Lake Worth Road in Greenacres. 

The building, which features round-the-clock access and ample parking, is located within minutes of JFK Hospital.

Coconut Creek

Robert Dabrowski

Dolan and Milopoulos represented landlord 4811 Lyons Tech Pkwy, LLC in the lease of 1,562 square-feet of warehouse space to Alternative Credit Solutions, LLC in suite 13 and the expansion and renewal lease of 3,124 square-feet of warehouse space to Natural Stone Elements, LLC in suites 20 and 21 at 4911 Lyons Technology Parkway in Coconut Creek. 

The property, which consists of two buildings with front loading warehouse/flex bays, provides easy access to Florida's Turnpike, I-95 and the Sawgrass Expressway.

Tampa

Milopoulos also represented tenant SAQ Gulf Holdings, LLC in leasing 4,000 square-feet of warehouse space from Madison Business Park, LLP.

 Located at 4610 Eagle Falls Place in Tampa, Madison Business Park features dock-high and grade-level loading doors, large truck courts, and tilt wall concrete construction.

 The property is in close proximity to the Port of Tampa, I-75, US-301, I-4, I-275, and the Crosstown Expressway.

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

Pierson Grant Public Relations

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Six/Ten renews several restaurant, retail and office leases in downtown Winter Haven, FL

Chad Lennox

Winter Haven, FL — Commercial and multifamily developer Six/Ten LLC has recently worked with several of its tenants to sign renewals in downtown Winter Haven.

“We are seeing an increased demand for space downtown,” said Chad Lennox, who represented the landlord, Six/Ten, LLC, in these renewals. 

“The addition of new office and retail space has opened up opportunities for businesses to relocate to the area.

 And the added foot traffic has provided an extra incentive for those already in downtown to remain in the area.”

Six/Ten has been working toward an urban rebirth of the downtown area, including the restoration of several historic buildings to their original, authentic architecture while modernizing their services. 

Central Park Square, Winter Haven, FL

One such building, Central Park Square, formerly a dilapidated, two-story furniture store, has been converted to retail and office space.

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

Michelle Friedman

Boardroom Communications

(407) 973-8555

(561) 706-4585 Cell

(954) 370-8999

(954) 370-8892 Fax

mfriedman@boardroompr.com

National Retail Properties, Inc. Declares Dividends For Its 6.625% Series D Preferred And 5.70% Series E Preferred Stocks

ORLANDO, FL /PRNewswire/ -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 6.625% Series D Cumulative Redeemable Preferred Stock of 41.40625 cents per depositary share payable June 15, 2015, to shareholders of record on May 29, 2015.  

The Board also declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable June 15, 2015, to shareholders of record on May 29, 2015.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2015, the company owned 2,104 properties in 47 states with a gross leasable area of approximately 23.1 million square feet with a weighted average remaining lease term of 11.5 years. 

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

www.nnnreit.com.

Capital Square Realty Advisors Acquires 37,500-Square-Foot 24 Hour Fitness Building Near Los Angeles

LOS ANGELES, CA – Capital Square Realty Advisors, LLC announced it has acquired a 37,500-square-foot retail building 100 percent leased to 24 Hour Fitness USA Inc., in the Los Angeles suburb of West Covina, Calif.

“This property is leased on a long-term, triple net basis to one of the largest, privately owned and operated fitness center chains” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

 “Net leased properties in Greater Los Angeles have experienced a dramatic increase in value, and we couldn’t be more pleased to add this asset to our growing real estate portfolio, which now includes 23 properties across the U.S. valued in excess of $260 million.”

The two-story building is located at 1530 W. Covina Parkway, approximately 19 miles east of downtown Los Angeles, in the eastern San Gabriel Valley. 

Rusty Tweed

Capital Square would like to recognize TFS Properties, Inc., doing business as TaxGuard1031, a California licensed real estate broker, which served as Capital Square’s real estate broker and was the procuring cause for this off-market acquisition. 

Rusty Tweed is the President of TFS Properties, Inc. and is a registered representative with FINRA member firm Concorde Investment Services, LLC.

The 1.6-acre property includes a three-level, free-standing parking garage, and is designed as a 24 Hour Fitness “Sport” facility. Amenities of the club include cardio equipment, circuit training, a kids club, sauna, steam room, and lap pool, among others.

Founded in 1983 in San Leandro as a one-club operation, 24 Hour Fitness currently has more than 400 locations in 18 states and three countries, upwards of 3.8 million members in excess of $1.25 billion in annual revenue.

 A global fitness leader, the company has been ranked by Club Industry’s (www.clubindustry.com) “Top 100 Health Clubs” as No. 2 in 2013 and 2014, and No. 1 in 2011 and 2012.

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

Julie Leber                                                                          

Spotlight Marketing Communications                    

949.427.5172, ext. 703                   

julie@spotlightmarcom.com

Marcus & Millichap Brokers Sale of 13 Apartment Units in North Miami, FL for $2.75 Million

Chateaux Gardens Townhomes, 11810 NE 19th Drive San Souci Submarket,
North Miami, FL

NORTH 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 13 units in Chateaux Gardens Townhomes, a 14-unit townhome community located in the highly desirable San Souci submarket of North Miami, Fla. The asset sold for $2,750,000 equating to $211,538 per unit.

Arthur D. Porosoff

Arthur D. Porosoff, a vice president investments, and David M Cohen, 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 North Miami.  

Porosoff also represented the buyer, a private investor from Bay Harbor Islands, Fla. 

“This was a tremendous opportunity to purchase a property with strong ‘in place’ cash flow and continue to operate it as rentals or to sell the individual condominium units at a premium,” says Porosoff. 

“The area is densely built out with limited availability for new development and there are a limited amount of buildings offering three-bedroom apartments.”

Built in 1995, Chateaux Gardens Townhomes is situated on a 38,948-square foot site and consists of two two-story buildings totaling 14 units. The offering consisted of 13 spacious three-bedroom/two-bath townhomes. Each unit is two-story and approximately 1,570 square feet under air.

Chateaux Gardens Townhomes is located at 11810 NE 19th Drive in North Miami, Fla.

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

Kirk A. Felici

First Vice President/District Manager

 Miami, FL

(786) 522-7000

Deco Market Sale of $5.46 Million in South Beach, FL Brokered by Marcus & Millichap

Art Deco Market, 1435 Washington Avenue, South Miami Beach, FL

MIAMI 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 Deco Market, a 9,243-square foot mixed-use property located in Miami Beach, Fla. The asset sold for $5,460,000.

Ronnie Issenberg

Arthur D. Porosoff, Ronnie Issenberg, Gabriel Britti, and Scott Sandelin, vice president investments, and Alejandro D'Alba, an associate, in Marcus & Millichap’s Miami office, represented the seller, a limited liability company from Miami, and the buyer, a private investor from Miami.

“This was a tremendous opportunity to purchase a property with in-place cash flow and continue to operate it with minimal management of the retail portion and run the residential units as yearly apartments or short term rentals,” says Sandelin.

“Washington Avenue has long been the most neglected street in South Beach. 

"With record breaking prices on the other main corridors of Alton, Lincoln and Collins, along with the prospects of a zoning density increase for the east side of the street, Washington Avenue has become a desirable target for investors that are looking to get into this market,” adds Issenberg.

The building is comprised of a 6,394-square foot retail space and nine apartments totaling 2,929 square feet. The retail portion is currently leased to Art Deco Market, a staple in the South Beach community.

Deco Market is located at 1435 Washington Avenue in Miami Beach, Fla.

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

Kirk A. Felici

First Vice President/District Manager

 Miami, FL

(786) 522-7000

Marcus & Millichap Arranges Sale of Doral Signature Shops in Doral, FL for $9.1 Million

Doral Signature Shops, 11401 NW 41st Street, Doral, FL

Scott C. Sandelin

DORAL, 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 Doral Signature Shops, an 11,110-square foot retail property located in Doral, Fla. 

The asset sold for $9,100,000 representing $819 per square foot and a 5.10 percent CAP rate.

Scott C. Sandelin, an associate vice president investments, and Edward Romo, an associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a partnership between local developers Gadinsky Real Estate and Armando Codina.  The buyer was a limited liability company from Miami.

“Doral Signature Shops was a rare opportunity for an investor to secure a newly constructed three-tenant retail center featuring long-term leases with high profile tenants,” says Sandelin. 

Edward Romo

“For the growing segment of two to three-tenant, high-quality retail centers, this is a very significant sale in terms of deal size and cap rate.”

“Doral is one of the Miami area’s fastest growing and most sought after markets with strong demographics. 

"The tenant mix of a Starbuck’s, Mercantile Commerce Bank and popular local restaurant chain, Graziano’s, is a perfect match for the area and complements the adjacent high-end apartment community that Codina built,” adds Romo.

Located at 11401 NW 41st Street, the center is situated at a signalized intersection on Doral’s main east-west corridor with convenient access to the Florida Turnpike.

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

Kirk A. Felici

First Vice President/District Manager

 Miami, FL

(786) 522-7000