HFF closes $24.5 million sale of grocery-anchored retail center in suburban Chicago

Yorkville Marketplace, U.S. Route 34 and Illinois State Route 47, Yorkville, IL

CHICAGO, IL, May 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $24.5 million sale of Yorkville Marketplace, a 111,591-square-foot, grocery-anchored retail center in Yorkville, a western Chicago suburb.   

Amy Sands

HFF worked on behalf of the seller, a partnership between American Realty Advisors and Tucker Development. 

Inland Real Estate Income Trust, Inc. purchased the asset. 

Yorkville Marketplace is anchored by Jewel-Osco, which is Chicago’s No. 1 grocer by market share.  

The property is 92.5 percent leased to a strong mix of national and local necessity retailers, including Panera Bread, Office Max, Starbucks and AT&T. 

The center is situated on 17.95 acres at the intersection of U.S. Route 34 and Illinois State Route 47. 

This location is the connection point for the residents of Kendall, Kane, DuPage and Will Counties and has an average traffic count exceeding 39,000 vehicles daily.

The property is surrounded by a rapidly growing and affluent trade area with average household incomes of $92,000 within a three-mile radius.

Daniel Kaufman

The HFF investment sales team representing the seller was led by directors Amy Sands and Clinton Mitchell and managing director Daniel Kaufman.

“Over the past few years, there have been very few Jewel-anchored grocery centers on the market in Chicago,” Sands said. 

“Yorkville Marketplace was an excellent opportunity for investors to acquire a well-located property with a market dominant grocery operator.”

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.inlandincometrust.com.

www.americanreal.com.

www.tuckerdevelopment.com.

Crossman & Co. Opens Tampa, FL Office

Tampa, FL – Crossman & Company, the Orlando-based real estate firm, is excited to announce the opening of its fourth office, which will be located in Tampa, Florida.

The new Tampa office is located at 9950 Princess Palm Avenue, Suite 340, Tampa FL 33619, south of Florida State Road 574.

Crossman & Company has grown to more than 20 million square feet of retail space under leasing or management throughout six states in the Southeast, with offices in Atlanta, Boca Raton, Orlando and now Tampa. The firm provides services in leasing, management, receivership, marketing, consulting and investment sales for retail properties.

 “With 36 shopping centers in the Greater Tampa-area, Crossman & Company will continue to have a strong market presence. The addition of our Tampa-based office will position us to support continuous growth,” said Crossman & Company President John Crossman. “Our talented team serves a growing number of clients within Tampa, and expanding was a natural addition.”

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

Sydnie Cobb

Crossman & Company

scobb@crossmanco.com

407.581.6261

www.crossmanco.com

American Realty Advisors Sells Office Building and Data Center in Phoenix, AZ for $91.5 Million

American Express Office Building and Data Center,  3151 and 3202 West Behrend Drive, Phoenix, AZ

PHOENIX, AZ  (May 28, 2015) – American Realty Advisors, an institutional real estate investment manager with approximately $6.7 billion in assets under management, on behalf of one of its clients, has sold an office building and data center totaling 513,361 square feet in Phoenix, AZ for $91.5 million.

Stanley lezman

The property is fully occupied by tenant American Express Travel Related Services Company, Inc. (a subsidiary of FORTUNE 500 company American Express).

“This asset was poised for strong investor interest, based on the long-term commitment to the property demonstrated by American Express,” says chairman and CEO Stanley Iezman. “This resulted in an attractive property with a stable rent roll to market to investment groups.”

This asset is situated on a 28.54-acre site located at 3151 and 3202 West Behrend Drive within a growing submarket of Phoenix where demand for office and data center properties continues to rise, according to Iezman.

“Several major data centers are located in the Phoenix market, based primarily on the region’s skilled workforce, affordable power, and low rate of natural disasters,” says Iezman. “This particular data center competes on both a national and international level, making the asset even more attractive to investors.”

Iezman notes that the sale of this property demonstrates American’s overall strategy to acquire, stabilize, manage, and sell assets in a way that drives the highest yields for its institutional investors, which include major pension funds, insurance companies, and foundations.

Jim Fijan and Chad Freese of CBRE represented the seller in the transaction. The buyer was Griffin Capital Corporation, a publicly registered non-traded REIT.

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

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

LAstfalk@browermillercole.com

www.americanreal.com.

HFF closes sale of Bay Area’s Orinda Theatre Square

Orinda Theatre Square, 1 Theatre Square, Orinda, CA

SAN FRANCISCO, CA, May 28, 2015 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Orinda Theatre Square, a 90,537-square-foot, mixed-use office and retail property in the San Francisco Bay Area community of Orinda. 

Steven Golubchik

HFF marketed the asset on behalf of the seller, GLL Real Estate Partners GmbH.

Originally built in 1941, Orinda Theatre Square was expanded in 1986 to its current eight-building configuration with a 324-space underground parking garage.  

Anchored by the art deco-style, three-screen Orinda Theatre, the two-level property has 47,610 square feet of office space and 42,927 square feet of retail space that is currently 98 percent leased to 34 tenants, including Starbucks, Serika Japanese Restaurant, Sweet Dreams Toy Store, Entourage Spa & Salon, Morgan Stanley Smith Barney, Wells Fargo Advisors and Chicago Title. 

Situated on 1.92 acres at 1 Theatre Square, the property is adjacent to the Orinda BART station.  The historic Orinda Theatre’s distinctive marque is visible from Highway 24, which is travelled by approximately 78.6 million people annually and is immediately accessible from the property.

Nicholas Bicardo

  Located less than 18 miles east of San Francisco, Orinda is an affluent Bay Area community with average annual incomes of $201,124 and median housing values of more than $1 million.

The HFF investment sales team representing the seller included senior managing director and co-head of HFF’s San Francisco’s office Steven Golubchik, managing director Nicholas Bicardo and senior real estate analyst Brandon Rogoff.

“The Orinda Theatre is the crown jewel of the city and an iconic and cultural centerpiece,” Golubchik said.  “Its neon marquee signage not only makes it one of the most recognizable properties in the Bay Area, but the property’s proximity to Highway 24 makes Orinda Theatre Square one of the most accessible assets in the region.”

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes sale of grocery-anchored shopping center on St. Simon’s Island, Georgia

  

Retreat Village Shopping Center, 220 Retreat Village, St. Simons Island, GA

ATLANTA, GA, May 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Retreat Village, a 108,654-square-foot, grocery-anchored shopping center on St. Simons Island off the coast of Georgia.

Richard Reid

HFF arranged the sale of the property on behalf of the seller, a joint venture between Paces Properties, Inc. and Somera Capital Management, LLC.  

Westwood Financial Corp. purchased the asset free and clear of existing debt.

Retreat Village is 97 percent leased and anchored by Winn-Dixie.  Additional notable tenants include Edwin Watts, Bonefish Grill, H&H Lifestyles, Burger King, AT&T, Great Clips, Radio Shack, Subway and Verizon. 

Located at 220 Retreat Village, the center is near the gateway to St. Simons Island and Sea Island.

The HFF investment sales team representing the seller was led by senior managing directors Richard Reid and Jim Hamilton and real estate analyst Brad Buchanan. 

 “The property benefits from its unique location, high barriers to entry and the surrounding high-end St. Simons Island and Sea Island resort communities with average household incomes approaching $100,000,” said Reid.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

HFF closes $29 million sale of 2-property Winn-Dixie-anchored retail portfolio in Florida

MIAMI, FL, May 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $29 million sale of a Winn-Dixie-anchored shopping center portfolio totaling 333,276 square feet in Florida.  

Daniel Finkle

The 87.3-percent-leased portfolio consists of Promenades in Port Charlotte, Florida, and Highlands Plaza in Lakeland, Florida. 

HFF marketed the property on behalf of the sellers, Mount Kellett Capital Management L.P. and Morning Calm Management, LLC.

Renovated in 2009, Promenades is a 230,704-square-foot mixed-use center with two available outparcels for future development. 

The center is home to Winn Dixie, Bealls Outlet, Tuesday Morning and YouFit Health Club, in addition to medical office tenant Fawcett Memorial and the Charlotte County Sheriff’s Office.

  Situated on 26.4 acres at 3280 Tamiami Trail, the property is at the entrance to the Medical Arts District in Port Charlotte, a waterfront community on the Gulf of Mexico’s Charlotte Harbor. 

The 102,572-square-foot Highlands Plaza features 461 parking spaces on its 15.68 acres and has two available outparcels for future development.

Luis Castillo

 In addition to the Winn-Dixie anchor, the center’s tenants include Florida Speech and Wellness Center, Fantastic Sam’s, Highlands MRI and Music Go Round. 

Highlands Plaza is located at 2900 Lakeland Highlands Road one mile off Polk Parkway in Lakeland, a central Florida community approximately 35 miles east of Tampa.  The center serves a trade area of almost 60,000 residents within three miles.

The HFF team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.

“The opportunity to acquire high-performing and well-established grocery-anchored centers is becoming increasingly rare in Florida,” Castillo said.  

“Given the high-growth nature of these markets and meaningful value creation potential for the individual properties, this portfolio garnered significant interest from investors.”

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

Two new tenant companies at Aloma Business Center in Winter Park, FL boost occupancy to 100 Percent

Winston Schwartz

WINTER PARK, FL --- Winston-James Development recently added two new tenants to its business center on Aloma Avenue in Winter Park.

Winston Schwartz, president of Winston-James Development, said LGPL, Inc. a Chic- Fil-A franchisee leased 1,875 square feet at Aloma Business Center in Winter Park.

At the same time, Albors Associates LLC also leased 1,875 square feet at Aloma Business Center.   Albors Associates is a translation consulting firm, Schwartz said.

Aloma Business Center, which opened in 2002 with 75,000 square feet of commercial suite space, is now 100 percent leased.

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

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

NAI Realvest Negotiates New Long Term Lease for High End Basketball Footwear Retailer in Downtown Orlando

Mitch Heidrich

ORLANDO, Fla. – NAI Realvest recently completed a long-term lease agreement on behalf of Sneaker Syndicate LLC, for its new downtown Orlando headquarters at 213 N. Magnolia Ave.  

NAI Realvest Broker Associate Mitch Heidrich, brokered the transaction on behalf of both the landlord, D. Arthur Yergey, and the tenant, a designer of high end basketball footwear who relocated to the new 1,450 square foot retail store from an E. Pine Street location.    

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

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

Ken Wilson of CHMWarnick Receives Hospitality Management Distinguished Alumni Award from University of New Hampshire

Ken Wilson

                BOSTON, MA, May 28, 2015—The University of New Hampshire (UNH) Hospitality Management Program (HMGT) awarded CHMWarnick Co-Founder and Partner Ken Wilson its Hospitality Management Distinguished Alumni Award at the annual Hotel Equity Lending and Perspectives (HELP) Conference recently held at the Seaport Boston Hotel. 

The university recognized Wilson for his contributions to the hospitality industry, including the founding of the largest hotel asset management firm in the nation, his past and current support for the four-year, hospitality management program and his position as one of the four founding members of the HMGT Program’s Advisory Board.

            “To say this is a tremendous honor that I truly cherish would be an understatement,” Wilson said.  “The hospitality industry has provided me with a genuinely fulfilling career, and UNH helped me identify my passion and prepared me to be a part of it.”

To receive the Distinguished Alumnus award, recipients must have graduated from the university, preferably with a Hospitality Management degree, both of which Wilson accomplished. Further, the recipient must have made demonstrable contributions to the industry during his/her career and be viewed as an “industry leader” by peers. 

Finally, the person should be noted for supporting the UNH Hospitality Management program over a long period of time, including financial support. 

Previous honorees include Bob Webster, Class of ’80, Jim Nassikas, Class of ’52 and Tom Varley, Class of ’80.

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

Chris Daly, media

 (703) 435-6293

 chris@dalygray.com

HFF expands West Coast investment sales team with the addition of Todd Tydlaska in its Los Angeles office

Michael Leggett

                             

 LOS ANGELES, CA, May 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has expanded its West Coast investment sales team with the addition of Todd Tydlaska in its Los Angeles office.

  Tydlaska joins HFF as a senior managing director focused on institutional office investment sales throughout the Greater Los Angeles region and will also assist in growing HFF’s business in other primary markets on the West Coast.

Tydlaska has been involved in the listing and sale of more than $15 billion of transactions throughout the West Coast, with a primary focus on office product. 

“We’ve always viewed Todd as a top recruit and a perfect fit in our effort of building out the Los Angeles and West Coast platform," said Michael Leggett, senior managing director and co-head of HFF’s San Francisco office and HFF’s national office investment sales team.  

" He’s someone who is respected and trusted in the industry, has impeccable integrity and is a leader in his community. This is a significant event relevant to the West Coast platform and we are excited to have him on board.”

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF hires Ben Appel as a director in its medical office building group

         

Ben Appel

               

PHILADELPHIA, PA –  Holliday Fenoglio Fowler, L.P. (HFF) announced Ben Appel has joined the firm as a director in its Philadelphia office. 

Mr. Appel will be a member of HFF’s medical office building group within its national healthcare practice and will focus on medical office capital markets and investment sales transactions throughout the United States with an emphasis on the Philadelphia MSA and the Northeast and Mid-Atlantic regions.

Mr. Appel joins HFF from Marcus & Millichap where he was most recently a director of their Healthcare Properties Group and the Net Leased Properties Group.

 He has advised clients including public and private REITs, pension fund advisors, fund managers, private equity, family real estate offices, and local and regional developers on medical office and industrial properties in excess of $600 million. 

Mr. Appel is a member of NAIOP and the Jewish Federation of Real Estate. 

He holds a Bachelor of Science degree in Economics and Business Management & Finance from the University of Maryland.

John Pelusi

“Ben’s background and relationships in the medical office space will bring tremendous value to HFF’s healthcare clients as we continue to build out this platform and more specifically the medical office building group at HFF,” said John Pelusi, executive managing director and head of HFF’s national healthcare practice.

  “Ben will be working alongside our team leaders, Michael Bennett and Phil Mahler, and Evan Kovac to continue building our national practice group, as there is exceptional demand for medical office buildings due to the aging baby boomer generation and the stability of this asset class. 

HFF is equipped to handle a variety of client needs in this arena, including seniors housing and life sciences.”

“We are excited to have Ben join our efforts in building out our product specialties in the Philadelphia office, especially in light of the $160.75 million recent sale of 833 Chestnut,” said Mark Thomson, senior managing director and head of HFF’s Philadelphia office.

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

Olivia Hennessey

Public Relations Coordinator

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

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

RealtyTrac Reports Home Sellers getting more than market value in 27 percent of markets

OB Jacobi

IRVINE, CA – RealtyTrac reports that out of 315 counties nationwide with a population of at least 100,000 and at least 100 sales in April, there were 85 (27 percent) where homes on average sold for at least 101 percent of their estimated full market value — led by Alameda and San Francisco counties in the Bay Area of California (both with average sale prices at 108 percent of estimated full market values), the District of Columbia in the Washington, DC metro area (107 percent), Forsyth County, North Carolina in the Winston-Salem metro area (107 percent) and Yolo County, California in the Sacramento metro area (107 percent).

 “Nationwide in April single family homes and condos sold for almost exactly 100 percent of their estimated full market value on average — indicating a good balance between supply from sellers and demand from buyers,” said Daren Blomquist, vice president at RealtyTrac. “At the local level, however, most markets tipped in favor of either sellers or buyers — although there were some Goldilocks markets exhibiting a ‘just right’ balance between buyers and sellers.”

Mike Pappas

“The Seattle housing market is completely controlled by sellers right now,” said OB Jacobi, president of Windermere Real Estate, covering the Seattle market, where average sale prices were above average estimated market values of homes that sold in April in all three counties comprising the metro area.

 “We are in a strong balanced market tipping toward a seller's market,” said Mike Pappas, CEO and president of the Keyes Company, covering the South Florida market, where average sales prices were between 97 and 99 percent of average market values of homes that sold in April in the three counties comprising the metro area. “Even our waning distressed inventory prices are popping and selling above the appraisal price.”

“Through April, much of the Ohio markets have experienced lower than normal available market inventories, creating a pool of pent-up demand amongst buyers wishing to take advantage of lower interest rates, and lower historical prices,” said Michael Mahon, president at HER Realtors, covering the Cincinnati, Dayton and Columbus markets in Ohio. Franklin County in the Columbus metro area was the only county in the state with average sale prices higher than average market values for homes sold in April.

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

jennifer.vonpohlmann@realtytrac.com