NAI Realvest brokers office/warehouse leases totaling 12,050 square feet in Longwood, FL

  

Jeff Bloom

ORLANDO, fL — NAI Realvest recently negotiated two long-term lease agreements for office and warehouse space totaling 12,050 rentable square feet on S. Ronald Reagan Blvd. in Longwood.

Jason G. Toll, Director of the Industrial Services Group at NAI Realvest, negotiated both transactions along with Senior Director Jeff Bloom, CCIM while representing the landlord, BT Texas Properties, LLC.  The tenant was Orlando-based Atlantic Tower Services, Inc.

Atlantic Tower leased 4,944 square feet of office space at 450 S. Ronald Reagan Blvd. and 7,106 square feet of industrial space that includes 1.72 acres of industrial storage yard at 380 S. Ronald Reagan Blvd.  

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Berkadia Negotiates $96.3 million price in sale of 834 units in Tampa, FL Portfolio of Apartment Properties

Jason Stanton

Tampa, FL and Orlando, FL --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated a $96.3 million sale price for the Tampa Portfolio, comprising two apartment properties that total 834 units in Tampa and Brandon.

Jason Stanton, Senior Vice President for Berkadia in Tampa, participated in the transaction along with Partner Cole Whitaker and Senior Vice President Hal Warren in Orlando. Berkadia represented seller Covenant Capital Group of Nashville, Tennessee in both transactions.

Viera at Westchase apartments, with 390 units built in 1999, is located near the affluent Town N’ Country area in Tampa. Berkadia negotiated a $52.75 million sale price for the property. The buyer was Viera at Westchase, LLC.

Hamilton Bay apartments, located on the thriving east side of Tampa Bay in Brandon, was built in 1989-1990 with 444 units. Berkadia negotiated a sale price of $43.6 million for Hamilton Bay. Blue Rock Partners, LLC was the buyer. The portfolio sale price averaged $115,527 per unit.

Whitaker said both communities saw capital improvements over the last four years that total more than $6.9 million and average $8,273 per unit. “Capital enhancements focused on curb appeal, marketing, and resident experience,” Stanton explained.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Berger Commercial Realty Brokers Joseph Byrnes and Robert Dabrowski Close Nine Office Leases in Palm Beach County, FL

Joseph Byrnes

FORT LAUDERDALE, FL (May 27, 2015) - After brokering nine leases throughout Palm Beach County earlier this year, Joseph Byrnes and Robert Dabrowski of Berger Commercial Realty, a full service commercial real estate firm, have since brokered nine additional leases at several office buildings countywide. The new lease transactions total more than 19,000 square-feet of space.

Woolbright Properties & Investments

Byrnes and Dabrowski represented landlord Woolbright Properties & Investments, LLC in three leases at the Woolbright Professional Building, including:

the new lease of 1,600 square-feet of office space to SRI Consultants, Inc. in suite 357;

the expansion and extension of a lease for 2,682 square-feet of office space to A & 

M Healthcare Services Inc. in suite 208;

and the expansion and renewal of a lease for 3,836 square-feet of office space to Materesky Financial Group, Inc. in suites 350 and 354.

Robert Dabrowski

Located at 2240 W. Woolbright Road in Boynton Beach, the Woolbright Professional Building borders I-95 on the south side of West Woolbright Road just east of Congress Avenue. 

The four-story, Class A office building features ample parking with covered spots, individual air conditioning units in each suite, and a security system with 24-hour entry.

Congress Properties & Investments

Byrnes and Dabrowski also represented landlord Congress Properties & Investments, LLC in closing the expansion lease of 2,746 square-feet of office space to Burnett International College, Inc. in suite 200 at the Woolbright Corporate Center II, in addition to several leases at the Woolbright Corporate Center I, including:

the new lease of 1,024 square-feet of office space to Life Care Home Health Services, LLC in suite 120;

the new lease of 1,183 square-feet of office space to Village Home Care of the Palm Beaches, LLC in suite 360;

and the new lease of 1,967 square-feet of office space to Discover Entertainment, LLC in suite 160.

Woolbright Corporate Center I is a 57,566-square-foot, Class B office building located at 1901 S. Congress Ave. in Boynton Beach. 

The building features individual air conditioning units in each suite, onsite maintenance, and convenient access to I-95. It is adjacent to the 58,026-square-foot Woolbright Corporate Center II, which is located at 1903 S. Congress Ave.

Additionally, Byrnes and Dabrowski represented Upper Gulfstream Properties & Investments, LLC in the lease renewal of 1,776 square-feet of office space to Healing Hand Ministries, Inc. Located at 500 Gulfstream Blvd. in Delray Beach, the Gulfstream Professional Building is minutes north of the downtown historical district of Delray Beach.

The brokers also represented landlord 123 W. 92nd Street, LLC in leasing 2,445 square-feet of office space to NVR, Inc. at 2005 Vista Parkway in West Palm Beach. The Class A office building is located off Okeechobee Blvd. adjacent to Florida's Turnpike. The 41,400-square-foot building is near downtown West Palm Beach and Palm Beach International Airport.

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

Media Contact: 954-776-1999

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

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

Lincoln Brokers $2.73 Million Sale of 11455 Lakefield Drive in Metro Atlanta

Denton Shamburger

ATLANTA, GA  (May 27, 2015) – Lincoln Property Company Southeast (Lincoln) has brokered the $2.73 million sale of 11455 Lakefield Drive, a 59,746-square-foot industrial building in Johns Creek, Georgia, in the North Central submarket of metro Atlanta.

Denton Shamburger, Jeff Henson and Chip Sipple of Lincoln represented the seller, General Electric Credit Equities, Inc., in the transaction. Hezli Holdings LLC was the buyer of the shallow-bay, rear-loading facility.

The sale is further evidence of a growing, improving market. Metro Atlanta’s industrial vacancy rate was 8.4 percent at the end of the first quarter, down from 9.1 percent three months earlier and 9.9 percent at the conclusion of second-quarter 2014, according to CoStar.

 Shallow-bay facilities in Atlanta’s North Central submarket are even healthier, posting a 4.2 percent vacancy rate at the end of March, according to CoStar.

“The market indicators remain positive and are headed in the right direction,” said Shamburger, vice president of industrial leasing for Lincoln.

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

KIG Lists 1,100+ Apartments Across Three States

Susan Tjarksen

CHICAGO, IL (May 27, 2015) – KIG, Chicago’s leading commercial real estate brokerage firm specializing in institutional multifamily properties throughout the Midwest, has been retained for three separate sales comprising more than 1,100 apartments in Kentucky, Wisconsin and Illinois.

The listings include a 202-unit apartment community in Lexington, Ky.; a three-property portfolio totaling 408 units in Gurnee, Ill., Madison, Wis., and Janesville, Wis.; and a two-property portfolio comprising 516 units in Waukegan, Ill. The properties are being marketed without an asking price.

“This is a large number of units to list in one month and underscores the strong investor demand that has prompted many landlords to sell now while the market is hot,” said Susan Tjarksen, principal and managing broker of KIG.

“Obtaining these listings is also a testament to KIG’s knowledge and capabilities in the multifamily sector. Our development experience allows us to more accurately predict what it would cost to turn a Class B property into a Class A property because we’ve done it before. This takes a lot of the guesswork out of the transaction and helps buyers feel more confident in their investment.”

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

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

$25 Million Manatee County, FL Multifamily Property Sold by Marcus & Millichap

Frank Carriera

 BRADENTON, 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 30 West Apartments, a 264-unit multifamily community located in Bradenton, Fla. 

The $25 million sales price equates to $94,700 per unit.

            Frank Carriera and Michael Regan, vice presidents investments in Marcus & Millichap’s Tampa office, represented the seller, Insula Companies, and procured the buyer, Timberland Properties.

            “The property is a fully stabilized asset with a history of high occupancy and strong, consistent cash flow in a thriving rental market,” says Carriera. 

“The Bradenton submarket recorded an average occupancy of 97 percent in Q3 2014, which marked the seventh consecutive quarter with average occupancy higher than 96 percent.

“These strong market fundamentals helped support our marketing campaign, which generated significant interest from investors nationwide and created a competitive bidding environment for the property.”

           

 “The 30 West apartment community received $1.45 million in renovations during 2013, and additional opportunities for value enhancement remain,” adds Regan.

Michael P. Regan

            The property is located at 2835 50th Ave. West in Bradenton between two major retail corridors, Cortez Road and 53rd Avenue/State Road 70. 

Area employers include Manatee County Schools, Bealls Inc., Manatee County, Manatee Memorial Hospital, Tropicana Products Inc., Blake Medical Center, Publix, Sysco West, Coast Florida Inc. and Pierce Manufacturing.

           State College of Florida, a four-year public college with approximately 30,000 students and IMG Academy, an athletic training facility that draws 12,000 athletes from around the world to Bradenton each year, are nearby. The popular tourist destination, Anna Maria Island, is a 15-minute drive away.

            All units at 30 West Apartments feature screened-in patios or balconies and storage closets, ceiling fans and walk-in closets. 

Community amenities include two lighted tennis courts, an on-site laundry facility, a fitness center, playground, dog-park, clubhouse, resort-style pool, outdoor kitchen with two gas grills and a pond with park benches and picnic tables.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Two Firms Open and Expand Offices In Tampa, FL, Leasing 60,000 Square Feet At Tampa Distribution Center

Lisa H. Ross

TAMPA, FL  --  Courier Express headquartered in Atlanta, Georgia has relocated and expanded their Tampa facility leasing 45,000 square feet at Tampa Distribution Center.  

The new lease quadruples the size of their Tampa facility. 

Taylor & Mathis Managing Director of Leasing, Lisa Ross represented the landlord in the transaction with Courier Express represented by John Peteet with Focal Tenant, LLC and Mike Rapp with Mohr Partners. 

In the last five years, Courier Express has more than doubled their Florida regional staff and increased their roster of independent contractors from 61 to 165. 

They have added new locations in Tampa and Gainesville while significantly expanding warehouse facilities in Pompano Beach. Courier Express has a presence in 45 states with its heaviest focus in the Southeast.

John L. Peteet

The company which has three divisions - freight delivery, warehousing and courier services – has carved out market niches in transporting medical specimens, office products, auto parts and more.

Mass Movement, Inc., a commercial fitness equipment logistics company, has opened its sixth distribution center and first in Florida in Tampa. 

Headquartered in Foxboro, Massachusetts the company leased 15,000 square feet in Tampa at Tampa Distribution Center. 

The deal was brokered by Taylor & Mathis Managing Director of Leasing, Lisa Ross representing the landlord and Thomas Grandoff of JLL representing the tenant.

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

tyoungman@assetmarketingonline.com

SR Commercial Completes Three Industrial Transactions in Southern California

Adam Robinson

SAN DIEGO, CA  – SR Commercial, a privately held, full-service commercial real estate investment company, has announced the completion of three recent transactions, including two acquisitions and a property sale, according to Adam Robinson, a Principal at SR Commercial.  

The firm’s recently completed transactions include:

100,600 Square-Foot Multi-Tenant Industrial Acquisition in Temecula  

            SR Commercial has acquired a 100,600 square-foot multi-tenant industrial property for a total consideration of $6.975 million in Temecula, Calif. The property is currently 100 percent occupied by Get Air of Temecula and Mountain View Community Church.

            “We immediately recognized the potential for this asset to fill a void in the market,” says Robinson, who founded SR Commercial along with partner CJ Stos.  “Temecula has approximately 15 million square feet of industrial space and an overall vacancy rate of approximately five percent.

“That said, the vacancy rate for smaller, approximately 20,000 square-foot bay size units is under two percent.  For that reason, when the church concludes its lease, we plan to divide that space into two or three smaller units and lease those to more conventional industrial or showroom tenants.”

SR Commercial and the seller, Liberty Advisors, LLC, were represented by Rob Guiness and Scott Stewart of CBRE.The property is located at 26201 Ynez Road in Temecula, California.

CJ Stos

Sorrento Valley Office Acquisition

SR Commercial has also acquired a 35,335 square-foot commercial project consisting of two R&D/flex office buildings located in the Sorrento Valley submarket of San Diego, California.

“Sorrento Valley is the technology and telecom hub of San Diego,” says Robinson.  “These industries continue to lead commercial real estate growth throughout the nation, and this project will benefit from this forward momentum.”

Robinson also notes that nearby assets are owned by institutional quality owners, including Biomed Realty Trust, Westcore, Parallel, Cruzan | Monroe, and Rexford, among others, further demonstrating the strength of the investment’s location.

“The topography of this submarket restricts development opportunities, and the area is essentially built-out,” says Robinson. “Based on these factors, we anticipate a strong rental growth for these assets.”

SR Commercial plans to make significant improvements to the buildings, which are currently vacant, and then market the two buildings for lease, both together and separately. The properties are located at 10505 Roselle Street and 3770 Tansy Street in San Diego, California.

$5.9 Million Sale of Industrial Property in Vista

Industrial Property, Vista, CA

SR Commercial completed a full-cycle repositioning project in Vista, California with the $5.9 million sale of a 39,672 square-foot industrial corporate headquarters property.

 SR Commercial acquired the property in February 2012 for $2.88 million ($72.63 per-square-foot) from Bank of America, which foreclosed on the property in 2012.

Isaac Little and Marko Dragovic of Lee & Associates represented SR Commercial as the seller in the transaction, and also represented Nordic Naturals, Inc. as the buyer.  The property is located at 2390 Oak Ridge Way in Vista, California.

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

Elise Anguizola / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

eanguizola@browermillercole.com

The Preiss Company Expands Texas Footprint with Acquisition at Texas State University

Outpost San Marcos, 1647 Post Road, San Marcos, TX

SAN MARCOS, TX and RALEIGH, NC, May 27, 2015—Officials of The Preiss Company, the nation’s third largest, privately held student housing owner-operator, today announced that it expanded its footprint in Texas with the acquisition of the 486-bed Outpost San Marcos student housing complex serving Texas State University. 

Donna Preiss

The educational institution, with more than 36,000 students, is the largest in the Texas State University System.

The property is the second purchased this year by joint ventures comprised of Preiss, Baltimore-based Criterion Holdings, LLC as the general partner, and a separate private investment group. 

The Preiss Company will implement a plan to upgrade the property, as well as operate the facilities. 

“This is our first property at Texas State, although we have been in Texas for eight years, and this acquisition will bring us to nearly 4,000 beds in the state,” said Donna Preiss, founder and CEO of The Preiss Company.

 “We are pleased to have purchased this stabilized asset serving a university that has exhibited growing enrollment. Texas State grew 3.4% last year and the Outpost continues to perform higher than expected in terms of pre-lease velocity and rental rate growth.”

The Outpost San Marcos is located at 1647 Post Road within walking distance to the football stadium and approximately seven minutes from the Texas State campus via quarter-hourly public transportation provided by the University.  Situated on 11.2 acres, the complex consists of six, three-story buildings and a stand-alone clubhouse. 

Monthly rents begin at $530, which includes a utility allowance.  Additional information is available at http://www.theoutpostsanmarcos.com.

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

Amy Barger,

 Vice President of Marketing

The Preiss Company

(919) 532-1114

amy.barger@tpco.com

Arbor Funds $39.4M Fannie Mae Acquisition Loan in California

Acacia Park Apartments, Temecula, CA

UNIONDALE, NY (May 27, 2015) -- Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the recent funding of a loan totaling $39,406,000 for the acquisition of the 320-unit Acacia Park Apartments in Temecula, CA. 

The 10-year under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan amortizes on a 30-year schedule and includes two years interest only.

The loan was originated by Greg Gillam, Vice President in Arbor’s Manhattan Beach, CA, office.

“The buyer of Acacia Park Apartments is a long-term Arbor client, with whom we have closed dozens of deals over the years,” Gillam said. “In this deal, the buyer required a certain amount of financing customization, which is standard on all Arbor loans. We were pleased to be able to help provide the optimal financial solution, including the best available terms, to the borrower for their great investment.”

Greg Gillam

Acacia Park Apartments consists of 24 buildings and such amenities as a clubhouse with a fitness center, a billiards table and restrooms with showers; two outdoor pools and spas; a tennis court; a volleyball court; a basketball court; as well as a barbecue area with gas grills.

“We believe Acacia Park Apartments represents a great investment, as it is a well-operated, stabilized asset that recently underwent $2 million in renovations. 

"We see much upside potential in the property and we plan on continuing renovations upon the turn of each unit, adding granite countertops, updated fixtures and cabinets and wood flooring along the way,” explained Eric Sussman, co-owner of the property.

“As always, our long-term financial partner Arbor worked hard to customize the specific financing we needed to make this deal a tremendous investment not only now but for the future. They uniquely understand our goals deal after deal.”

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

Christopher Ostrowski

costrowski@arbor.com

Crossman & Company President John Crossman to serve on Palm Beach Atlantic University’s Orlando Campus Advisory Board

John Crossman

Orlando, FL – Crossman & Company President John Crossman is honored to serve on Palm Beach Atlantic University’s newly formed Orlando Campus Advisory Board.

“This is a great opportunity to help take Palm Beach Atlantic University’s Orlando campus to the next level,” Crossman said.

 “I support Palm Beach Atlantic University’s mission of a first-class education through the integration of Christian values and am grateful that I can be of service to an important cause.”

Crossman also serves on the Valencia College Board of Trustees, Florida A&M University Foundation Board, University of Florida Bergstrom Center for Real Estate Studies Executive Board, Florida State University Real Estate Program Executive Advisory Board and the University of Central Florida Dr. P. Phillips Institute for Research and Education in Real Estate College of Business Administration Executive Board.

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

Sydnie Cobb

Marketing Specialist | Crossman & Company

3333 S. Orange Ave. Suite 201 | Orlando, Florida 32806

407.581.6261 (direct) | 407.423.5400 (main)

scobb@crossmanco.com