HFF closes sale of two Dallas-Fort Worth area retail pads

Village at Cross Roads Shopping Center, Cross Roads, TX

Ryan West

HOUSTON, TX - Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of two multi-tenant buildings that total 24,000 square feet and form the outparcel part of Village at Cross Roads shopping center in the Dallas-Fort Worth suburb of Cross Roads, Texas.

HFF arranged the sale of the property on behalf of the seller, Lovett Commercial.

The assets consist of two outparcels located at NEC U.S. Highway 380 and FM 424 at a signalized intersection in Cross Roads, a lakefront community north of Dallas and Fort Worth that sees visitors from nearby Lake Lewisville and Lake Ray Roberts.

 The 100-percent-leased outparcels are home to Mattress Firm, Starbucks, UPS Store, Supercuts, Sally’s Beauty, Fuzzy’s Tacos and T-Mobile. 

The asset is shadow-anchored by an 185,900-square-foot Walmart Supercenter and Village at Cross Roads tenants.  Additionally, the assets will support a proposed 133,500-square-foot, Class A power center. 

Matt Berry

The HFF investment sales team representing the seller was led by managing director Ryan West, associate director Matt Berry and real estate analyst Robbie Kilcrease.

“Village at Crossroads presented an opportunity to purchase a brand new 100-percent-leased asset shadow-anchored by a Walmart Supercenter,” Berry said.

 “The asset’s long-term leases and stable cash flow attracted several investors looking for Class A quality properties. 

" Buyers are aggressively seeking similar assets in the market, as they can achieve quality returns with accretive debt terms available.”

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.lovettcommercial.com

Lincoln Harris Releases Q2 2015 Report on Charleston, SC

  

Mike Ferrer

CHARLESTON, SC  — Strong economic indicators in Charleston point to continued positive performance by the city’s commercial real estate market.

 That is the No. 1 finding in Lincoln Harris’ latest reports on the office, industrial and retail markets in Charleston.

 The reports include market statistics, such as vacancy rates; total net absorption and average asking rents; recent investment sales; and signed lease transactions.

 “Charleston’s economy is the strongest it has been in years,” said Mike Ferrer, CCIM, vice president of Lincoln Harris’ Charleston office.

“With Volvo starting construction on its $500 million plant and an uptick in the development of new homes and hotels, the market is producing a favorable environment for commercial real estate growth.”

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

Savannah Duncan

The Wilbert Group

404-343-0870 (O) 404-901-4433 (C)

sduncan@thewilbertgroup.com

brand-new, multi-tenant Federal Marketplace in fort lauderdale, fl, exclusively listed by Marcus & Millichap, hits market for $9 million

Scott C. Sandelin

FORT LAUDERDALE, Fla, July 9, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that it has obtained the exclusive listing for Federal Marketplace, a 9,324-square foot retail center located in Fort Lauderdale, Fla. The asset is listed for $9,007,000.

Scott C. Sandelin, an associate vice president investments, and Edward Romo, an associate, both in Marcus & Millichap’s Miami office are representing the seller, a limited liability company from Miami.

“This is a rare opportunity to acquire a brand-new construction center with minimal landlord responsibility in the premier retail corridor of Fort Lauderdale,” says Sandelin.

“Additionally, there is upside in the future development potential of the oversized parcel,” says Romo.

Located at 2949 North Federal Highway, Federal Marketplace is a 2015 construction, high-quality, triple net-leased retail center with 149 feet of direct frontage on North Federal Highway. The four-bay property is fully occupied by AT&T, Burger21, El Agave Azul Mexican Taqueria and Flash Fire Pizza Your Way.

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

Kirk A. Felici

First Vice President and District Manager

Miami, FL

(786) 522-7000

CBRE Brokers $12.6 Million Sale of Altamonte Springs, FL Apartment Community

Justin Basquill

Orlando, FL – CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill arranged the sale of Village Green, a 164-unit, 140,000-square-foot apartment community in the Altamonte Springs area of Orlando.

Located at 112 Essex Avenue, the asset was acquired from Harbor Group International, LLC by Insula Companies for $12.6 million. CBRE provided exclusive representation to the seller in the transaction.

“Village Green’s high-demand and walkable location in Seminole County helped garner significant interest in this offering.

“With upgraded units in the submarket achieving rent premiums of $150 per month, Village Green is well positioned to benefit from an improving market and realize higher rents through property enhancements,” said Mr. Granade, Executive Vice President of CBRE Capital Markets, Multifamily.

Built in 1970, Village Green features two-story concrete block buildings with two pools, two clubhouses, and a fitness center in a highly desirable location in the Altamonte Springs area of the Orlando MSA.

Luke Wickham

With an occupancy rate of 97% at closing, Village Green is within walking distance of a Publix-anchored community shopping center, Altamonte Mall, Crane’s Roost Park, and Florida Hospital Altamonte.

Granade and his Orlando-based multifamily team have executed more than $2 billion in apartment transactions in Central Florida from 2013 to date.

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

Elizabeth Cross  

+1 305 428 6373 or

Daniel Jimenez

+1 407 839 3191

elizabeth.cross@cbre.com

 daniel.jimenez@cbre.com

Chatham Lodging Announces Monthly Dividend

  

PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded select-service hotels, announced that its board of trustees has declared a monthly common share dividend of $0.10 for July 2015.

  The common dividend is payable August 28, 2015, to shareholders of record on July 31, 2015.

The company also announced it will report second quarter 2015 financial results on Wednesday, August 5, 2015.

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

Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289