$135 million sale of 525 West Van Buren in Chicago’s West Loop closed by HFF

525 West Van Buren, West Loop, Chicago, IL

 

Jaime Fink

CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 525 West Van Buren, a 522,809-square-foot, 16-story, Class A office tower located in Chicago’s West Loop.

HFF represented the seller, Northwood Investors, in the transaction.  AEW Capital Management, Inc. acquired the office tower for $135 million on behalf of one of its separate account clients.

525 West Van Buren is situated at the southwest corner of Van Buren and Canal Streets in the West Loop within Chicago’s central business district.  This location is adjacent to the Chicago Transit Authority’s elevated train system (“L”) and close to Union Station, Ogilvy Transportation Center and Interstate 290 providing tenants and commuters access to the entire metropolitan area.

 Completed in 2002, 525 West Van Buren features an on-site café, 40 indoor executive parking spaces, a mezzanine floor with a Wi-Fi lounge, conference center, fitness center with lockers and showers, and a bike room with storage for 56 bikes.

The HFF investment sales team representing the seller was led by senior managing directors Jaime Fink and Jeffrey Bramson and managing director Mark Katz.

“The property has true class A tenancy and also offers a great opportunity to lease up the vacant space as Chicago’s central business district office market continues to improve,” said Fink.

  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.aew.com

Marcus & Millichap Arranges Sale of 6,795-SF Net-Leased AutoZone Site in Tampa, FL

Mike Paspalakis

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of an AutoZone ground lease, a 6,795-square foot net-leased property located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $1,060,000.

Mike Paspalakis, associate, Nicholas Meoli and Michael Donaldson, both vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by Dustin R. Alvino, senior associate, in the firm’s Las Vegas office. 

AutoZone occupies an attractive, freestanding building with 2005 construction on a half-acre of land located at 8002 North Dale Mabry Highway in Tampa, Florida.

The property has excellent frontage on Dale Mabry Highway, a major north/south thoroughfare running through the heart of Tampa. It is ideally situated just south of a Walmart Supercenter in a dense retail corridor that includes PNC Bank, Burger King, Zaxby’s, Hudson’s Furniture, Family Dollar, LA-Z-Boy Furniture, 7-Eleven and many more.

“The seller had owned the property for 40 years prior to the sale, and was looking to retire,” says Paspalakis. “Due to our national marketing platform, we were able to secure a California-based investor within a short time frame who is in the process of expanding his single-tenant net-leased portfolio.”

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

 Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700

                    

RealtyTrac Reports Share of In-Foreclosure Sales Drops to 15-Year Low in July While Cash Sales Share Falls to Eight-Year Low

                                                                        

Daren Blomquist

IRVINE, Calif. – August 27, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its July 2015 U.S. Home Sales Report, which shows sales of properties in-foreclosure and cash sales were down from a year ago to multi-year lows while year-to-date U.S. home sales in 2015 are at an eight-year high, and the U.S. median home price in July was at an 82-month high.

“While the stock market may be on a roller coaster as of late, the housing market is still on solid ground, with the eight-year low in cash sales combined with the eight-year high in overall sales volume in the first half of the year evidence that housing is successfully transitioning from an investor-driven recovery to one that is drawing in traditional buyers as a good foundation for sustainable growth going forward,” said Daren Blomquist, vice president at RealtyTrac.

“That’s not to say there are no cracks in the foundation of this recovery, the top three of which are housing affordability — or lack thereof in some high-flying markets — along with overdependence on capricious cash buyers — both foreign and domestic — in some markets, and the persistent overhang of underwater homeowners who continue to represent heightened default risk given any future economic shockwaves.”

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

 Jennifer von Pohlmann

 Sr. Data PR Manager

 Office: 949.502.8300 ext 139

 jennifer.vonpohlmann@realtytrac.com

                            

Capital Square Realty Advisors Completes 152-Unit Multifamily DST Offering Near Tampa, FL

Louis Rogers

TAMPA, FL – Capital Square Realty Advisors, LLC announced its Delaware statutory trust offering, CSRA Candleglow Apartments, DST, comprised of Candleglow Apartments, a 152-unit multifamily community near Tampa, Florida, has been fully subscribed by investors.

“Candleglow Apartments is nearly 100 percent occupied with a waiting list, which bodes well for future growth in rental income,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

“Capital Square is bullish on multifamily properties like Candleglow Apartments that have the potential for immediate income growth and do not require substantial renovations. Finding a solid apartment community at a reasonable price in good condition is like finding a needle in a haystack.”

Rogers adds, “This is Capital Square’s 16th DST to be fully subscribed since inception in late 2012 and we look forward to continuing to provide investors with high quality real estate properties from different asset classes as we grow the DST platform.”

Candleglow Apartments, located at 1071 Candlelight Blvd. in Brooksville (greater Tampa area), is a garden-style community with 10 residential two-story buildings and a single-story clubhouse.

 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

                                       

Central Tavern Receives Approval to Open in Downtown Winter Haven, FL

  

Winter Haven, FL — A new, upscale bar concept, Central Tavern, is coming to Downtown Winter Haven this fall

DTWH, LLC, the owners of 25 bar and restaurant franchise locations throughout Florida, has received approval from the city to begin construction on its latest venture.

 Work is now underway and Central Tavern is expected to open by the end of November at 273 W. Central Avenue.

“This will be unlike any of our other concepts,” said Tom Elliott of DTWH, LLC, which also owns the Paddywagon Irish Pub and Linksters Tap Room franchises. “Central Tavern will have a historic motif, including photos of old Winter Haven.”

“We met with Six/Ten several years ago and were intrigued by their vision for revitalizing the downtown region,” said Elliott. “We believe the area is quickly becoming a dynamic and highly desirable destination for dining and entertainment.”

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

Michelle Friedman Griffith

BoardroomPR

407-973-8555

mgriffith@boardroompr.com

Fastest WiFi in America to Come Standard at New Centex Community Sereno in Tampa, FL Area

Sean Strickler

Tampa, FL --- Sales are in full swing at Sereno, the newest Centex community in the Tampa area located on Bella Armonia Circle, just east of U.S. 301 and Sun City Center Blvd. in Wimauma.

Sereno, an ULTRAFi Community, is a first-of-its kind residential environment where every home is built to be a Smart Home and every resident will enjoy the fastest internet and WiFi speeds in North America.

Sean Strickler, division president for Centex and PulteGroup in the West Florida region, said homeowners at Sereno will enjoy up to an exclusive 1 Gigabit of internet and WiFi speeds (100 times faster than average broadband speeds) by the pool, on the trails, in the clubhouse and at the playground.

Strickler said homebuilder builds new one and two-story homes with two-car garages at the gated community where home buyers choose from four distinct floor plans.

New Centex homes with two to six bedrooms and two to three bathrooms are priced from the low $200s at Sereno, and range in size from 1,674 square feet of living area to 2,662 square feet.

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

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