HFF closes REO sale of office park and development site in suburban Miami, FL

Lucky Start Executive Plaza, 8765 SW 165th Avenue, West Kendall, FL

Marty Busekrus

MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the REO sale of Lucky Start Executive Plaza, a two-building office park totaling 55,658 square feet plus a vacant development site in West Kendall, Florida.

HFF marketed the property on behalf of a regional bank, who had acquired the asset in a foreclosure auction.  IMC Property Management, Inc. purchased the asset for $12.5 million.

Lucky Start Executive Plaza is located at 8765 SW 165th Avenue about four miles south of the Tamiami Trail in the southwestern Miami suburb of West Kendall. 

 The property is within a few blocks of Baptist Health System’s newly-built, 30-acre medical facility as well as the proposed Kendall Town Center, which will include office, multi-housing, hotel, senior housing and community space.

 The property consists of two office buildings that are 54.1 percent leased to medical and professional tenants plus a vacant pad site for the future development of a three-story, 89,000-square-foot office building. 

 The HFF investment sales team representing the seller was led by director Marty Busekrus, associate director Jorge Portela and executive managing director Manny de Zárraga,.

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.imcpropertymanagement.com

HFF closes sale of DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park in North Carolina

DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park

TAMPA, FL  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park, a 249-room, full-service hotel in North Carolina’s Research Triangle area.

Daniel C. Peek

HFF marketed the property on behalf of the seller, Driftwood Hospitality Management, LLC.  Southwest Value Partners purchased the hotel and has retained Dimension Development Corporation as manager.

Also known as the “Mansion on the Hill,” The DoubleTree by Hilton Hotel Raleigh-Durham Airport at Research Triangle Park underwent renovations in 2013 that improved and modernized all common areas and guest rooms while retaining the asset’s Southern-inspired aesthetic.

 The hotel caters to business and vacation travelers and features a full-service restaurant, lobby bar, outdoor swimming pool, 24-hour business center, state-of-the-art fitness center and 11,500 square feet of flexible meeting space. 

The property is situated on 12.5 acres at 4810 Page Creek Lane in Durham approximately three miles from Research Triangle Park, home to more than 190 Fortune 500 companies, biotech and scientific research firms, and professional services providers. 

KC Patel

Five miles from Raleigh-Durham International Airport, the hotel is off of Interstate 40, 15.3 miles from downtown Raleigh and 10.5 miles from downtown Durham.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, director KC Patel, associate director Cyrus Vazifdar and senior managing director Ryan Clutter.

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.driftwoodhospitality.com.

Sale of Washington, D.C. Class A office building closed by HFF

Columbia Center, 1152 15th Street NW, Washington, DC

 

Stephen Conley

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Columbia Center, a 393,815-square-foot, Class A office building in Washington, D.C.

HFF arranged the sale of the property on behalf of UBS Global Asset Management.  Carr Properties purchased the asset for an undisclosed amount free and clear of existing debt in a structured transaction together with affiliates of the Oliver Carr Company and Clark Enterprises.

Columbia Center is located at 1152 15th Street NW in Washington, D.C.’s central business district adjacent to the to-be-built Fannie Mae Headquarters.  Completed in 2008, the 12-story property is currently 94 percent leased and anchored long-term by Orrick Herrington & Sutcliffe as well as Merrill Lynch.

The HFF investment sales team representing the seller included executive managing director Stephen Conley, senior managing directors Jim Meisel, Dek Potts and Andrew Weir and associate director Matthew Nicholson.

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.ubs.com/realestate

Berger Commercial Realty Negotiates $2.55 Million Sale of Deerfield Beach, FL Industrial Property

Joseph Byrnes

FORT LAUDERDALE, FL  - Brokers Joseph Byrnes and Greg Milopoulos of Berger Commercial Realty recently represented landlord Stream Asset Holdings, LLC in selling a redevelopment opportunity in Deerfield Beach.

The property sold for $2.55 million to Stor-All 2nd Ave., LLC. Stor-All 2nd Ave. LLC plans to redevelop the site to accommodate a self-storage facility and other mixed-use properties.

Formerly known as Deerfield Builders Supply, the property was a family-owned and operated lumberyard and rebar plant for 66 years.

"We feel this asset was a great acquisition for Stor-All in a market with virtually no REO opportunities remaining" said Milopoulos. "Both parties were great to work with through this process and we look forward to seeing the project get started."

Located at 77 S.E. 2nd Ave. on the southeast corner of Hillsboro Blvd. and Dixie Highway, the five-acre property features secured gating with multiple access points, direct rail access via a private 11-car rail spur, close proximity to major roads and highways, and several onsite warehouses totaling 45,000 square-feet of industrial space.

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

Berger Commercial Realty Closes Three Sales in South Florida Totaling More Than $10 Million

Roxanna Collins

FORT LAUDERDALE, FL - Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently closed the sales of three properties for a total of more than $10 million.

Taft Office Complex Building

Berger Commercial Realty Vice President Joseph Byrnes represented Poal Wk Taft, LLC in the $6.1 million sale of 6565 Taft Street in Hollywood. The four-story, 50,000-square-foot office building is the last and largest of nine office buildings to be sold from the Taft Office Complex, which spans several blocks from 6363 to 6565 Taft St.

Built in the late 1980s, the building is currently 90 percent occupied. Infinity Insurance, City College, and the United States government are key tenants.

Lloyd Berger

"This asset drew a great deal of interest from the moment we put it on the market. A contract for the sale was secured in less than 60 days," Byrnes said. "With well designed floor plans and abundant parking, the property has and will continue to have high-quality tenants with long-term leases."

Gateway Industrial Center

Berger Commercial Realty President Lloyd Berger and broker Keith Graves represented 6500 NW 15th Ave., LLC in selling the Gateway Industrial Center to Gateway Park Holdings, LLC, represented by Alan Levy of Levy Realty Advisors. The property, which includes 28,150 square-feet of warehouse space, sold for $2.1 million.

Located at 6500 NW 15th Ave. in Fort Lauderdale, the Gateway Industrial Center features grade-level and dock-high loading, clear ceiling heights of 19 feet, three-phase power and ample parking. 

It is located in the heart of South Florida's tri-county market within minutes of Florida's Turnpike, I-95 and Fort Lauderdale Executive Airport.

"This sale is representative of continued interest in well positioned industrial properties in Broward County," Berger said. "Location-savvy investors see a property like the Gateway Industrial Center as an ideal market-entry acquisition or a promising addition to an existing portfolio."

Keith Graves

Andrews Office Centre

Berger Commercial Realty Broker Associate Roxanna Collins represented South Andrews Investments, LLC in purchasing the Andrews Office Centre from Fort Lauderdale Investments. Located at 1777 S. Andrews Ave. in Fort Lauderdale, the 13,000-square-foot property sold for $2.2 million.

The three-story office building, built in 1981, is within minutes of downtown Fort Lauderdale, Broward General Hospital, the Fort Lauderdale International Airport, and Port Everglades.

 The building features professional tenants, ample parking and easy access to multiple forms of public transportation. It is situated just south of S.E. 17th Street on a future New Wave Streetcar route.

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

Marcus & Millichap Wins Exclusive $8.98 Million Listing for 191,664-SF Parcel in Hialeah Gardens, FL

Alex D. Zylberglait

HIALEAH GARDENS, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced it has obtained the exclusive listing for 9101 Okeechobee Road, a 191,664-square foot land parcel located in Hialeah Gardens, Fla. The asset is listed for $8,975,000.

Alex D. Zylberglait, a senior vice president investments, and Joseph Phelps, an associate, in Marcus & Millichap’s Miami office, are representing the seller, a private investor from Hialeah Gardens, Fla.

“This redevelopment opportunity is located on the northwest corner of the interchange between Okeechobee Road and The Palmetto Expressway,” says Phelps.  “B-3 zoning allows for retail, self-storage, and hotel development among other uses. 

"This is a marquee location in one of the most visible locations in Miami-Dade County.”

“The property is also adjacent to a Walmart Supercenter and across from the Westland Mall - which make the site attractive to national tenants,” adds Zylberglait.

The 191,664-square foot parcel is improved with an 11,638-square foot structure. The property is currently occupied by USA Truck Service Plaza, Cat Scale, and several month-to-month tenants.

     

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