Glenfield Capital Unveils The Corners in Peachtree Corners, GA

Mike Mason

Atlanta, GA – Last week, the City of Peachtree Corners’ mayor, Mike Mason, and several City Council members, joined senior management representatives from companies in the park to celebrate Glenfield Capital’s grand ‘reopening’ of The Corners. 

The Corners is a wooded office park comprised of four buildings with more than 290,000 square feet of space located in the heart of Peachtree Corners.

The project is home to the headquarters of several companies including Global Power Technologies, Generated Systems, Capstone Logistics and ProSys, as well as regional or operational offices for Sprint, Dematic, Toshiba, Market Force and PSA Healthcare.

Since Atlanta-based Glenfield Capital acquired the property in late 2014, the firm has invested more than $1 million in renovations and improvements, including the addition of state-of-the-art conference center.  Prior to this investment, the property’s dated and drab interior and  lack of current technology made it challenging to retain - much less attract - tenants.

“The Corners was an under performing asset with strong fundamentals,” said James Cate, managing principal of Glenfield Capital.  “We saw value in the property’s location and the potential for it to excel in the area with an updated and modernized interior.”

JLL was selected to be The Corners exclusive leasing agency.  Since Glenfield Capital acquired the property, the company has successfully leased more than 50,000 square feet of space.  They are working closely with Glenfield Capital to lease the remaining space, approximately 51,000 square feet total.

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

Kathryn Farmer • The Wilbert Group

1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309

O: 404-254-1487 M: 678-642-4301

www.thewilbertgroup.com

    

www.peachtreecornersga.gov.

www.jll.com.

www.glenfieldcapital.com.

HFF expands Carolinas presence with eight-person capital markets team

Chris Norvell

HARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announced it has expanded its Carolinas presence with the addition of an eight-person capital markets team.

 The team, formerly of Cushman & Wakefield Thalhimer, a Cushman & Wakefield regional affiliate, will focus on capital markets transactions in the industrial, office, land and multi-housing sectors enhancing the current team of Ryan Clutter, Travis Anderson and Cory Fowler.

Chris Norvell joins HFF as a senior managing director with more than 20 years of industry experience and will focus primarily on industrial investment sales throughout the Carolinas and Southeast.  During the past eight years, he has completed more than 18 million square feet of industrial transactions exceeding $1 billion in value in the Southeast and Carolinas.  

Justin Good

Justin Good joins HFF as a managing director specializing in multi-housing and land investment sales opportunities throughout the Carolinas and Southeast.  Prior to Cushman & Wakefield, he worked with Cassidy Turley where he was instrumental in building its Carolinas Land Services team.  During the past seven years, he has completed more than $500 million in transactions throughout the region. 

Also joining the Carolina’s multi-housing investment sales team is Allan Lynch, who joins as a director.  While at Cushman & Wakefield, Lynch founded the Cushman & Wakefield Thalhimer multi-housing division and within 18 months established a market-leading team.  Prior to his time at Cushman, he worked with Engler Financial Group of Atlanta, where he was part of a team that closed more than $1.5 billion in investment sales and joint venture equity transactions.

Allan Lynch

Scot Humphrey, who joins the firm as a director, will work closely with Ryan Clutter in HFF’s Carolinas office investment sales practice while also working with Norvell and Clutter on industrial transactions.  With more than 10 years of experience, Humphrey has been involved in investment sales transactions totaling more than $1 billion.

Scot Humphrey

Additional team members include two real estate analysts, Sarah Godwin and Patrick Nally; a graphics coordinator, Sarah Spain; and a production coordinator, Deanna Connolly.

Sarah Godwin

“We are very excited with the addition of Chris, Justin, Scot and Allan to the HFF Carolinas team,” commented Ryan Clutter, co-head of the HFF Carolinas office.

Sarah Spain

“These four individuals bring a wealth of experience, credibility, talent, and most importantly, high professional integrity to our firm.  They will immediately enhance our service offering to our clients and expand our Carolinas office into two new property sectors. 

“Our practice will now have dynamic multi-housing and industrial investment sales teams.  Further, our office and land sale businesses are strengthened considerably with the addition of these quality individuals,”

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

http://www.hfflp.com/

HFF closes $6.3 million sale of and secures $4.35 million financing for Vista La Jolla Corporate Center in San Diego, CA

Vista La Jolla Corporate Center, 4747 Morena Boulevard, Rose Canyon Submarket,
 San Diego County, CA

Nick Frasco

SAN DIEGO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $6.3 million sale of and secured $4.35 million acquisition financing for Vista La Jolla Corporate Center, a 39,950-square-foot, multi-tenant office building in San Diego, California.

HFF marketed the asset on behalf of the seller, VLJ, LP.  The property was purchased by J & J Properties – La Jolla, LLC, a division of J & J Real Properties, LLC.  

Additionally, HFF secured the 69-percent-loan-to-value, 10-year, fixed-rate acquisition loan for the buyer through a CMBS lender with two years interest-only. 

Vista La Jolla Corporate Center is located at 4747 Morena Boulevard in the Rose Canyon submarket of San Diego County, near La Jolla, downtown and University Town Center. 

Situated on 2.05 acres just off Interstate 5, the property features prominent visibility with a traffic count of more than 200,000 cars per day. The three-story building was 88 percent leased at the time of sale to 11 tenants with a weighted average remaining lease term of more than three years.

The HFF investment sales team representing the seller was led by director Nick Frasco.  J & J Properties – La Jolla, LLC was represented by Frederic Esrailian, of FTE Realty, Inc.

The HFF debt placement team representing the borrower was led by senior managing director Aldon Cole.

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

http://www.hfflp.com/

HFF closes sale of and arranges financing for four-property Class A office portfolio in Miramar, FL

 

Hermen Rodrguez

MIAMI, FL –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for Miramar Center I and III and Huntington Centre I and II, a four-property, Class A office portfolio totaling 373,902 square feet in Miramar, Florida.

HFF marketed the properties on behalf of the seller, MetLife, Inc.  Starwood Capital Group purchased the portfolio.  Vanderbilt Partners will be the property manager of the portfolio.   Additionally, HFF worked on behalf of the buyer to place the acquisition loan.

The portfolio consists of four, four-story office buildings on both sides of Interstate 75 in western Miramar, which straddles the border between Miami-Dade and Broward counties. 

The HFF investment sales team representing the seller was led by senior managing director Hermen Rodriguez, director Ike Ojala and associate director Jorge Portela.

The HFF debt placement team representing the buyer was led by senior managing directors Paul Stasaitis and Wally Reid and director Chris Drew.

“These high-quality suburban office buildings generated much interest among institutional real estate investors.  There is a clear interest in acquiring Class A office buildings, in submarkets that have a nearby, well-educated workforce and excellent nearby transportation hubs,” said Rodriguez.

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

http://www.hfflp.com/

www.starwoodcapital.com

www.metlife.com.

HFF secures $9.862 million acquisition financing for Class A office building in Atlanta, GA

                         

Perimeter Crossing, 1200 Lake Hearn Drive Northeaset, Northern Atlanta, GA

Travis Anderson

CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $9.862 million in acquisition financing for Perimeter Crossing, a 114,474-square-foot, Class A office building in Atlanta, Georgia. 

HFF, working on behalf of the buyers, SilverCap Partners, LLC and SK Commercial Realty, placed the loan with First Tennessee Bank. 

Perimeter Crossing is situated on almost six acres at 1200 Lake Hearn Drive Northeast in northern Atlanta with 350 feet of frontage on Interstate 285 (The Perimeter).  In the heart of the Central Perimeter submarket, the asset is near “Pill Hill,” a major cluster of hospitals and medical office buildings.

 The property is one mile from Perimeter Mall and within walking distance to MARTA’s Medical Center station.  The 85.6-percent-leased, five-story building is home to Nextraq, First Communities, Walgreen Co., Bluff Media, Condominium Concepts, Collect Southeast and Finan Templeton. 

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson, director Gregg Shapiro and associate director Cory Fowler. 

“Given the strong tenant roster and excellent access to the property along with a strategic location in one of the top office submarkets in Atlanta, we believe this is an outstanding opportunity for the sponsorship to garner upside potential with long-term viability,” Anderson said.

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

http://www.hfflp.com/

www.skcr.com.

www.silvercappartners.com.

HFF secures $38.5 million financing for 2 suburban Indianapolis apartment communities

The Hamilton Apartments,  116th Street and Hoosier Road, Indianapolis, IN

INDIANAPOLIS, IN –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $38.5 million in financing for two Indianapolis-area apartment communities, The Hamilton and BayShore Apartments.

Working on behalf of the borrower, entities controlled by The J.C. Hart Company, Inc., HFF placed the loans in two separate transactions. 

A $25.2 million, 15-year, fixed-rate loan was placed with 40/86 Mortgage Capital, Inc. for The Hamilton.

  Morgan Stanley Bank, N.A. closed a $13.3 million, fixed-rate loan for BayShore Apartments.  Both loans were used to refinance existing debt on the properties.

The Hamilton is a 233-unit, Class A multi-housing asset located in the fast-growing  Indianapolis suburb of Fishers, Indiana.  Located at 116th Street and Hoosier Road, the property has immediate access to the Interstate 69/116th Street interchange and the plentiful amenities available in the area.

David B. Keller

 Completed in 2014, the property features one-, two- and three-bedroom luxury units and offers extensive amenities, including a swimming pool with sun deck, grilling area with fire pit, state-of-the-art fitness center, indoor gymnasium, business center, café lounge, game room and garage parking.

BayShore Apartments is located on Main Street, just east of SR 135 in Greenwood, Indiana.  Built by The J.C. Hart Company, Inc. in 1998, BayShore features 236 one-, two- and three- bedroom units, which average 893 square feet each.  

Community amenities include a swimming pool, hot tub, tennis court, indoor gymnasium, sand volley ball court, fitness center, clubhouse and business center.

The HFF debt placement team representing the borrower was led by senior managing director David B. Keller.

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

HFF secures $190 million financing for Fountain Place in Dallas, TX

  

Fountain Place, 1445 Ross Avenue, Arts District, Dallas, TX

 

John Brownlee

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $190 million in financing for Fountain Place, a 1.2-million-square-foot, Class A office tower in Dallas, Texas.

HFF worked on behalf of the borrower, Goddard Investment Group, to secure the financing through AIG Investments.

 The $190 million loan was broken into two components, a $100 million, initial seven-year, fixed-rate loan and a $90 million floating-rate loan.

 Proceeds are being used to take out the existing financing and fund tenant improvements/leasing commissions plus capital expenditures for the construction of a new parking garage and interior renovations.  HFF was also involved in the sale of the property to Goddard in 2014.

Fountain Place is located at 1445 Ross Avenue in the Dallas Arts District close to Klyde Warren Park.  The 58-story tower was designed by architect I.M. Pei and features a water garden by renowned landscape architect Dan Kiley called “The Fountain Plaza” at its base.

 It is one of only three LEED Gold Certified Class A buildings in downtown Dallas and also includes an adjacent 1.5-acre development site that can be developed into above grade parking.  Fountain Place is 86 percent leased to tenants including Tenet Healthcare, Hunton & Williams and Wells Fargo Bank, N.A. 

HFF’s debt placement team representing the borrower was led by senior managing director John Brownlee, managing director Steve Heldenfels and director Jim Curtin.

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

$44.5 million sale of grocery-anchored shopping center in Connecticut closed by HFF

Townline Square, 533 South Broad Street, Meriden, CT

 

James Koury

BOSTON, MA –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $44.5 million sale of Townline Square, a 314,816-square-foot, grocery-anchored shopping center in the Hartford suburb of Meriden, Connecticut.

HFF marketed the property on behalf of the seller, Urstadt Biddle Properties Inc.  Castle Rock Equity Group LLC (Castle Rock) purchased the asset free and clear of existing debt.

Anchored by Big Y World Class Market, the 95.8-percent-leased Townline Square is home to major tenants Marshalls, PetSmart, Burlington Coat Factory, Edge Fitness and Michaels in addition to Bath and Body Works, Five Below, GameStop, Jersey Mike’s, Avenue, Panera Bread, New England Dental, Sleepy’s and T-Mobile.

 The two-building center was renovated in 2013 and has two outparcels, which are leased to McDonald’s and Pier One Imports. 

Situated on 29 acres halfway between West Hartford and New Haven at 533 South Broad Street in Meriden, Townline Square is located at the convergence of Interstates 91 and 691 and Routes 15 and 5, four of Connecticut’s major roadways.  More than 115,000 residents with an average annual household income of approximately $83,000 live within five miles of the property.

Ben Sayles

The HFF investment sales team representing the seller was led by senior managing director James Koury and director Ben Sayles.

Castle Rock was assisted by Divvone Equity Group to locate, structure and close this deal.  David Kahan of Divvone Equity Group has successfully worked with Castle Rock on multiple transactions throughout the past year.

“Closing another deal with Judah and Castle Rock’s team has been a pleasure,” said Kahan.   “At Divvone, we pride ourselves on seeking out creative channels to increase revenues and returns by using our extensive relationships and expertise in the retail market together with our connections with lenders. 

“This strategic edge gives us the ability to locate and structure deals such as Townline, placing us at the forefront of the market.  I look forward to continue building the relationship and successfully working on many more transactions together with Judah and his team.”

“Once again, our teams’ working relationships, alacrity and focus has effectuated the closing of another successful deal,” said Judah L. Angster Esq., CEO of Castle Rock Equity Group.  “We are excited to add Townline Square into our portfolio.  We feel confident that Castle Rock can bring additional value to an already great asset.”

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

https://www.linkedin.com/company/castlerock.

www.castlerockequitygroup.com

Marcus & Millichap Arranges Sale of Taco Bells in St. Petersburg, FL and Pasadena, FL

Taco Bell, 1495 4th Street South, St. Petersburg, FL

 

Barry M. Wolfe

SAINT PETERSBURG, 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 two Taco Bell restaurants located in St. Petersburg and Pasadena, Fla. 1495 4th Street South sold for $2.01 million and 903 Pasadena Avenue South sold for $2.24 million.

Barry M. Wolfe, a first vice president investments, and Alan Lipsky, an associate, both in Marcus & Millichap’s Fort Lauderdale office, represented the seller of the properties, a limited liability company from St. Petersburg, Fla.

Both properties are newly constructed with long-term leases and minimal landlord responsibilities.

"Investor demand for available single-tenant properties is very strong, especially in the St. Petersburg area. The city is experiencing incredible growth from new restaurants, condos and apartments,” says Wolfe.  “We received tremendous interest from both domestic and international investors in the Taco Bell properties.”

The 1,760-square foot Taco Bell at 1495 4th Street South is less than a mile from the University of South Florida-St. Petersburg, Bayfront Medical Center, All Children’s Hospital and Port of St. Petersburg. The 2,141-square foot Taco Bell at 903 Pasadena Avenue South is situated in Pasadena, a thriving community adjacent to the gulf beaches.

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

Ryan Nee

Regional Manager, Fort Lauderdale

(954) 245-3400