CBRE Capital Markets Brokers Sale of New Luxury Rental Community in Sanford, FL

Elan Towne Center, Sanford, FL

Orlando, FL –  CBRE Capital Markets arranged the sale of Elan Towne Center, a new 360-unit, Class “A” apartment community in the Sanford area of Orlando.

Located at 12500 Solstice Loop, the asset was completed in early 2015. CBRE’s Shelton Granade, Luke Wickham, and Justin Basquill provided exclusive representation to the seller in the transaction.

“The property was completing the lease-up when taken to market, and the strong investor demand was a testament to the desirable product and compelling employment story in the nearby Lake Mary Heathrow Office Park,” said Mr. Granade, Vice Chairman of CBRE Capital Markets, Multifamily.

 “Institutional and larger private equity investors are flocking to these high-quality locations and opportunities, and are bullish on the rent and employment gains projected for Orlando.”

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

Elizabeth Cross

Daniel Jimenez

+1 305 428 6373

+1 407 839 3191

elizabeth.cross@cbre.com

 daniel.jimenez@cbre.com

  

NAI Realvest Negotiates Three industrial leases totaling 18,000 square feet in Seminole County, FL

Michael Heidrich

ORLANDO, FL— NAI Realvest recently negotiated three long-term leases totaling 18,000 rentable square feet at industrial centers in Longwood and Sanford.

Michael Heidrich, senior vice president and principal at NAI Realvest brokered the transactions representing the landlords.

At 1075 Florida Central Parkway in Longwood, Heidrich represented the landlord 1944 Unionport Associates LLC of New York, NY in a lease renewal agreement with local tenant MRI Depot, Inc. for Suite 2000 with 5,204 square feet.  

TekQuest Industries Corporation d/b/a Rush Hampton is the tenant who renewed its lease of 10,800 square feet in Suite 1000 at 4275 Church St. in Monroe CommerCenter South in Sanford. 

    Allen’s Environmental, LLC d/b/a/West End Construction renewed the lease of 2,000 square feet at 707 Progress Way in the same center and the landlord there is Monroe South SPE, LLC of Orlando.

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

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

  

HFF secures $35.23 million in financing for Burlington, MA-based Linear Retail Properties

 

Riaz Cassum

BOSTON, MA – Aug. 24, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $35.23 million in combined financing for Main Street Marketplace in Waltham, Massachusetts and Eaglewood Shops in North Andover, Massachusetts.

Working on behalf of the borrower, Linear Retail Properties, HFF placed the fixed-rate, first mortgage acquisition loans with different lenders in two separate transactions. 

A $14.56 million loan was placed with Cambridge Trust Company for Main Street Marketplace and a $20.67 million loan was secured through Washington Trust with Middlesex Savings Bank for Eaglewood Shops.

Main Street Marketplace is a 44,461-square-foot, Class A retail center that was completed in 2012.  

The property is fully leased to 13 local, regional and national tenants including iParty, Panera Bread, Chipotle Mexican Grill, GNC, Aspen Dental, Supercuts, Five Guys and AT&T Wireless. 

Situated on a 4.31-acre site at 1030 Main Street, the property is straddled by State Routes 20 and 117 about a half of a mile east of Route 128/Interstate 95 in Waltham.  Average daily traffic counts at the property exceed 31,000 cars per day on Weston Road (Route 20).

Brett Paulsrud

Completed in 2005, Eaglewood Shops is a Class A retail center with 77,558 square feet of space anchored by Staples.  

Other retailers at the fully-leased center include Pier 1 Imports, Jos. A. Bank, Burtons Grill, Chipotle Mexican Grill, Thyme Sushi and b good. 

Eaglewood Shops is located on more than 13 acres at 145 Turnpike Street less than one mile south of Interstate 495 in North Andover.  The property has average daily traffic counts of more than 29,000 vehicles per day on Turnpike Street (Route 114).

The HFF debt placement team representing the borrower was led by senior managing director Riaz Cassum and director Brett Paulsrud.

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

www.linearretail.com

 or on Twitter @LinearRetail.

  

HFF arranges financing for Austin, TX multi-housing community

  

Falcon Ridge Apartments, 500 East Stassney Lane, Austin, TX

  

Eric Tupler

DENVER, CO, Aug. 24, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing for Falcon Ridge, a 296-unit, garden-style multi-housing community in Austin, Texas.

HFF worked on behalf of the borrower, Griffis Residential, to secure the 10-year, fixed-rate loan with TIAA-CREF.  Loan proceeds were used to acquire the property.

Built in 2000, Falcon Ridge has 12 residential buildings consisting of one-, two- and three-bedroom floor plans averaging 901 square feet each.

 Community amenities include two swimming pools, spa, fitness center, tanning room, sand volleyball court, barbecue area with grills, dog park, jogging trail, car wash and clubroom/business center.

 The property is situated on 23.45 acres at 500 East Stassney Lane immediately southeast of the intersection of Interstate 35 and Highway 71 in Austin’s South Central neighborhood.  The asset is 94 percent occupied.

The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler, managing director Josh Simon and associate director Casey Wenzel.

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

www.GriffisResidential.com.

CBRE Lists Reserve at Maitland for Sale in Maitland Center, FL

Reserve at Maitland, Maitland Center, FL

Ron Rogg

ORLANDO, FL -- CBRE, as exclusive advisor, is pleased to offer for sale Reserve at Maitland, three single-story office buildings totaling 196,835 square feet, located in the prestigious Maitland Center office submarket; one of the most established suburban submarkets in the Southeast. 

Maitland Center’s large concentration of institutional developers and owners has historically been a strong draw for credit tenants.

Strong credit tenants, Bright House Networks and Alere, have a long history at the property and offer ownership predictable cash flow and significant upside in the lease up of current vacancy.

Built in 2001, the Property has been owned and maintained on an institutional basis. A combination of asset quality, location, credit tenants, and significant upside potential make it one of Central Florida’s best available value-add investment opportunities.

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

 Ronald J. Rogg, CCIM

Executive Vice President

+1 407 839 3194

ron.rogg@cbre.com

Charles Dunn Company Completes Office Property Sale in Porter Ranch Neighborhood of Los Angeles, CA

Justin Mendelson

LOS ANGELES, CA, Aug. 24, 2015 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $4,925,000 sale, a fully occupied, 15,798-square-foot office building located in the affluent Porter Ranch neighborhood of Los Angeles. 

Built in 1985 and located at 11260 Wilbur Ave., the two-story, pride-of-ownership property is situated on just under one acre of land at the signalized intersection of Wilbur Ave. and Rinaldi St.

The asset features Spanish-style architecture and is occupied by office and professional tenants. The Property is across the street from Porter Valley Country Club and is one-half mile from the Facey Medical Group.

Justin Mendelson and Fred Sheriff of Charles Dunn Company represented the sellers, Wilnaldi Venture, L.P. and Wilnaldi Bellisimo LLC. The same Charles Dunn team including Darrell Levonian of the firm represented the buyer, Papazian-Hirsch Calabasas, LP.

Fred Sheriff

 The transaction closed at a 6.7 percent cap rate, and price-per-square-foot in excess of $300.

Charles Dunn Company garnered approximately 10 offers throughout the marketing process on Northridge Professional Park and worked with the seller to select a well-capitalized and experienced buyer. The buyer – a long-time client – has completed multiple transactions with the Charles Dunn’s Darrell Levonian over the years.

“This was an opportunity for the buyer to trade from another property that we sold at a 4 percent cap rate into this office building in a submarket with great demographics and a cap rate of 6.7 percent,” said Mendelson. 

“Additionally, the property offered a very stable tenancy history, attractive cash-flow within a sub-market that doesn’t have many office space choices, and limited new planned development.”

Mendelson added that “the majority of Northridge Professional Park’s tenants are local companies that are owned and/or led by executives who live in the nearby high-end residential communities. The area enjoys convenient retail, dining, entertainment and recreation amenities.”

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

Darcie Giacchetto

949.278.6224

www.charlesdunn.com