HFF closes $29.4 million sale and secures $19.175 million financing for three Gaithersburg, MD office/lab buildings

25, 35 and 45 West Watkins Mill Road, Gaithersburg, MD

WASHINGTON, DC, July 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged financing for 25, 35 and 45 West Watkins Mill Road, three office/lab buildings totaling 139,938 square feet in the Washington, D.C. submarket of Gaithersburg, Maryland.

Jim Meisel

HFF represented the seller, an affiliate of Equus Capital Partners, Ltd., in the transaction.  Tritower Financial Group purchased the assets for $29.4 million and was assisted by HFF in securing a 10-year, fixed-rate acquisition loan with a life insurance company. 

25, 35 and 45 West Watkins Mill Road are situated on a combined 12.7 acres within Montgomery County’s I-270 corridor, which is widely known as a leading life sciences center. 

The properties are within walking distance of the new Watkins Mill Town Center and have easy access to area roadways including Rockville Pike, Routes 117 and 124 and the Intercounty Connector.  

Tenants at the 95 percent, triple net leased buildings include MedImmune and Amplimmune, wholly owned subsidiaries of AstraZeneca.  

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

HFF’s debt placement team representing the new owner was led by managing director Cary Abod.

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.tritowerfinancial.com

www.equuspartners.com.

HFF arranges $37.5 million financing for luxury apartment project in Houston’s Museum District

Cappella Museum District,  1699 Hermann Drive, Houston, TX

 HOUSTON, TX, July 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $37.5 million in financing for the development of Cappella Museum District, a 224-unit, seven-story luxury apartment project in Houston’s Museum District.

Working on behalf of the developer, Tema Development (1988), Inc., HFF placed the construction permanent loan with AXA Equitable Life Insurance Company through its advisor, Quadrant Real Estate Advisors LLC.

Cappella Museum District is situated on a 2.25-acre site at 1699 Hermann Drive near Jackson Street overlooking Hermann Park and the new McGovern Centennial Gardens.

 Due for completion in late 2016, the property will have 238,000 square feet of studio, one- and two-bedroom units and five penthouse suites.  

The property will also have a 12,000-square-foot courtyard and a 351-space, five-story parking garage that will provide direct entry into each floor of residences. 

The 9,000-square-foot amenity area will include a seasonal ice skating rink, café bar, resident club, conference room, fitness center, yoga room, swimming pool, fire pit, barbecue area, electric car charging station and a sky lounge on the top floor that will provide views of Hermann Park, the Museum District and downtown Houston. 

The HFF debt placement team representing the borrower was led by senior managing director Matt Kafka.

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

Capital Square Realty Advisors Completes DST Offering of Dallas Medical Office Building Portfolio

 

Louis Rogers

DALLAS, TX (July 28, 2015) – Capital Square Realty Advisors, LLC announced today that its Delaware Statutory Trust offering, MOB Portfolio III, DST, comprised of two medical office buildings located in the Dallas suburbs of Arlington and Mansfield, Texas, has been fully subscribed by investors.

Both properties are 100 percent leased to Arlington Orthopedic Associates, the largest independent practice providing comprehensive orthopedic care in the Mid-Cities, Texas area.

“The DST structure provides Section 1031 exchange and cash investors with an attractive opportunity to participate in the ownership of high quality properties like these, with strategic locations and long-term leases to strong tenants in the ever popular medical office space,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. 

The two-story Arlington building, located at 800 Orthopedic Way, totals 37,100 square feet of space in the heart of the city’s commercial district.

The Mansfield property, located at 2801 E. Broad St., includes approximately 12,560 square feet of medical office space.

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

                                       

Lexington Homes Begins Construction on Lexington Crossing Townhomes in Rolling Meadows, IL

Jeff Benach

Chicago, IL (July 28, 2015) — Chicago-based Lexington Homes has announced it has started construction on Lexington Crossing, a community of 54 townhomes in downtown Rolling Meadows, Ill. 

Three models at Lexington Crossing are scheduled to open January 2016 along with first move-ins.

“Over the past two years we have developed a number of successful townhome communities in the north/northwest suburbs including Park Ridge, Palatine and Morton Grove and are excited to start construction on our newest community in Rolling Meadows,” said Jeff Benach, co-principal of Lexington Homes.

 “Based on the brisk sales of these communities, there is obviously a demand for townhomes like ours that combine open floor plans and convenient locations. So far, Lexington Crossing seems to be following suit as we have already had solid sales before starting construction.”

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

Kelly Shumaker, kshumaker@taylorjohnson.com, 312-267-4519

Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

Easton & Associates Announces More than 160,000 SF of Industrial Leases

Kathy Zerbone

 DORAL, FL, July 28, 2015 — Demand for new industrial space remains strong in Miami Dade County.  Last month, Easton & Associates, the brokerage division of The Easton Group, brokered more than 160,000 sq. ft. of leases.  They include:      

-Valassis Direct Mail renewed a lease for 100,000 sq. ft. at Lakes Corporate Park, 5890 NW 163rd Street, Miami Lakes.  The landlord is Cap-East Associates.  Easton’s Jim Armstrong and Mike Waite represented the landlord and Newmark Grubb Knight represented the tenant. Lakes Corporate Park is a 35-acre development with more than 555,000 sq. ft. of bulk/warehouse distribution and office/flex facilities.

-FKA Global Pathology renewed its lease for 22, 700 sq. ft. at Lakes Corporate Park, 16250 NW 59th Avenue, Miami Lakes.   The landlord is Cap-East Associates. Easton’s Jim Armstrong and Mike Waite represented Cap-East and DTZ America, Inc. represented FKA Global Pathology. 

Jim Armstrong

-SystemOne Technologies, Inc. renewed a lease for 14, 687 sq. ft. at 8305 NW 27th Street, #106 & 107, Miami.  Jim Armstrong and Mike Waite represented the landlord, SPG Transal Park LLC and Patrick O’Hare of Florida Corporate Realty, Inc. represented SystemOne.

-Caribbean Form Products, Inc. signed a new lease for 12, 290 sq. ft. of industrial space at 1175 NW 159 Drive, #3, Miami.  Jim Armstrong and Mike Waite represented the landlord, 1175 NW 159 LLC.

-Fast Dispatch Inc. extended a lease for 10, 680 sq. ft. at 8810 NW 24 Terrace, Miami. Easton’s Kathy Zerbone represented Fast Dispatch in the transaction.

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

Todd Templin

Boardroom Communications

ttemplin@boardroompr.com

954-370-8999/954-290-0810

Marcus & Millichap Brokers Sale of Sitios Place Apartments in Tampa, FL

Casey Babb

TAMPA, FL, July 28, 2015 – 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 Sitios Place, a 4-unit apartment community located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $500,000.

Casey Babb, CCIM and vice president investments, and Ari Ravi, associate, both of Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer was secured and represented by Casey Babb and Ari Ravi.

“Apartment properties in and around the urban core continue to experience high demand both from tenants and investors alike. That is especially the case in the South Tampa market, which is one of the strongest rental submarkets in the region. The subject traded within four percent of the asking price at a sub six percent cap and nearly ten times the gross rent,” said Babb.

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

Marcus & Millichap Arranges Sale of Oakwood Garden Apartments in Ocala, FL

Joshua Teplitzky

OCALA, FL, July 28, 2015 – 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 Oakwood Garden Apartments, a 46-unit apartment community located in Ocala, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,725,000.

Joshua Teplitzky, investment associate, and Michael P. Regan and Francesco P. Carriera, both vice president investments, all of Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

The buyer was also represented by Teplitzky, Regan and Carriera. 

“This property was a prime example of a value-add opportunity in a tertiary market. The seller self-managed the property and restricted the resident base to tenants 55 years or older even though there were no land use restrictions on the property,” says Teplitzky.

 “The buyer saw this as an immediate management upside through expanding the potential tenant pool and plans to capture a new demographic by updating the interior of the units.

 “We generated nine offers and found the ideal buyer out of Israel due to our international platform and our unparalleled ability to create a market for multifamily properties of this size and vintage.”

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

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

The Mele Storage Group Enters Weight Loss Challenge to Benefit the Self-Storage Association Foundation Scholarship Program

Tara Paronto

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced today that the Mele Storage Group will “trim the fat” amongst their team members to see who can lose the greatest percentage of weight.

The challenge will benefit the Self-Storage Association (SSA) Foundation Scholarship program, which provides scholarship awards up to $5,000 toward postsecondary education tuition and fees. 

This is a need-based scholarship program for students with at least a "C" average or 2.0 cumulative GPA on the 4.0 scale.

Michael Mele, senior vice president, Sean Delaney, first vice president, Luke Elliott, associate, Robert Bloch, associate, Kevin Menendez, associate, Brian Baldwin, associate, Tara Paronto, director of operations, Brian Fulton, senior analyst, and Kelly Russano, analyst, will all enter the six week challenge, which began Monday, July 27 and ends Friday, Sept/ 4,  just before the annual SSA Fall Tradeshow and Conference in Las Vegas, Nevada.

Kelly Russano

 “With the long hours and travel everyone has been putting in, our health has fallen to the back burner. 

"We realized we needed to do something to turn things around and the Vegas show coming was the perfect timing,” said Mele. 

“While this is a great cause to give back to, my health is important and I’m really tired of all the young guys in the office talking about my ‘broker body,’” Elliott adds.

Each team member will weigh in every Monday, and the results will be reported directly to the SSA for distribution to the entire self-storage community. The group will also post their progress on their social networking feed and their website at www.melestoragegroup.com.

 “It started out as a friendly competition in the office, then I thought why not use this as an opportunity to raise some money for a great cause,” says Mele. The Mele Group has pledged to donate $15 for every pound lost during the competition. “And I challenge our clients and friends to match the donation,” he concludes.

  

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

 Tara Paronto

Director of Operations,

Mele Storage Group

Tara.Paronto@marcusmillichap.com

(813) 387-4726

Crossman & Co. names John Zielinski Chief Operating Officer

John Zielinski

Orlando, FL – Crossman & Company’s Senior Vice President John Zielinski has been promoted to Chief Operating Officer, where he will oversee leasing, management and investment sales for the company. Zielinski previously served as head of the firm’s Atlanta division.

Crossman & Company President John Crossman notes Zielinski will continue to grow the company as he did with the Atlanta office, and assist with many areas of our business, including training and recruiting, as well as the internal coordination and communication of the company.

“John is a commercial industry veteran and we are thrilled to promote him as our Chief Operating Officer,” Crossman said. “He is a great asset and leader for the Crossman team.”

Prior to joining Crossman & Company, Zielinski served as an executive with Publix Super Markets, Inc. for more than 15 years in a variety of roles, including managing the leasing of the Publix shopping center portfolio.

Zielinski has a Bachelor of Science in Business Administration from Bowling Green State University, an MBA from the University of South Florida and holds the CCIM designation.

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

Sydnie Cobb

Crossman & Company

scobb@crossmanco.com

407.581.6261

Pre-Leasing Begins Aug.1 at NorthShore 770, Northbrook’s New Luxury Mixed-Use Rental Community in Illinois

                      

David Strosberg

CHICAGO, IL (July 28, 2015) — Co-developers Morningside Group and Crossroads Development Partners have announced the start of pre-leasing of the luxury rental residences at NorthShore 770, a 347-unit luxury apartment community and 101,435-square-foot retail center featuring a Mariano’s grocery store at 770 Skokie Blvd. in Northbrook, Ill.

“Since breaking ground last summer, there has been a huge amount of interest surrounding this development as there is nothing else like it on the North Shore,” said David Strosberg, president and managing principal of Chicago-based Morningside Group.

 “It’s the first in this area to combine luxury apartments complete with a doorman, upscale amenities and major retail. NorthShore 770 is a true lifestyle center and will offer best-in-class living for its residents.”

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

Vanessa Irving, virving@taylorjohnson.com, 312-267-4525

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