Essex Realty Group Brokers the Sale of a 23-Unit Multi-Family Building in Chicago, IL

Brian Karmowski

CHICAGO, IL --  Essex Realty Group, Inc. is pleased to announce the sale of 1901 N. La Crosse Ave.

1901 N. La Crosse Ave. is a 23 unit, multi-family property located on the eastern edge of Chicago’s Belmont-Cragin neighborhood.

 Situated on the northeast corner of Cortland and La Crosse, the property is approximately eight miles northwest of Chicago’s Central Business District. Public transportation is easily accessible via the Grand/Cicero Metra Station located just two blocks southeast of the Property.

Also nearby are many bus lines along Cicero and Armitage. Several restaurants and amenities are located within walking distance of the Property including the Washington Square and Brickyard Mall, Home Depot, Dunkin Donuts, Menards, and the U.S. Postal Service.

The sale price was approximately $1,069,250.

Doug Imber and Brian Karmowski were the brokers on the transaction.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

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

Douglas Fisher

Essex Realty Group, Inc.

773.305.4910

dougfisher@essexrealtygroup.com

www.essexrealtygroup.com

SVN | Chicago Commercial Expands Footprint into Northern Colorado

Alfred Stepan

CHICAGO, IL – Sperry Van Ness | Chicago Commercial announced that it has partnered with two Sperry Van Ness brokerage franchises, based out of Denver and Fort Collins, to form SVN | Denver Commercial. The merger will expand SVN | Chicago’s footprint into the northern Colorado real estate market.

“As we considered this new venture, it was important to everyone involved that the partnership not just benefit Sperry Van Ness, but more importantly benefit our clients,” said Alfred Stepan, managing director of SVN | Chicago Commercial.

 “There are many synergies between the Chicago and Denver real estate markets. We often have Chicago-based clients exploring opportunities in Denver, as it’s one of the hottest markets in the country for both real estate and job growth. 

“With this partnership, we can connect our clients with top Denver-area market experts and help them capitalize on the growth opportunities this underserved market has to offer.”

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

Cara Mooses, cmooses@taylorjohnson.com, 312.267.4523

Kim Manning, kmanning@taylorjohnson.com, 312.267.4527

Lincoln Property Company Southeast Brokers $22.95 Million Sale of Regional Power Center in Warner Robins, GA

Kyle Stonis

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) and SRS Real Estate Partners have arranged the $22.95 million sale of City Crossing, a 298,933-square-foot power center located in Warner Robins, Georgia.

Tony Bartlett and Chris Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller, Wells Fargo Bank, N.A., in the transaction. D&J Real Estate Management purchased the property, which is anchored by The Home Depot, Ross Dress for Less, HomeGoods, Old Navy and Michaels.

Originally engaged in 2012 as Receiver for City Crossing, Lincoln stewarded the center through a difficult period and was able to re-invigorate the asset through aggressive leasing and management, increasing occupancy to 86 percent while also addressing a variety of complex construction, insurance and legal issues that had collectively stymied project leasing.

“The project really brought out the best in our team and our ability to bring different disciplines within our service platform together to focus on the challenges was key to performance on the assignment,” said Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office. “Providing our client with a ‘single stop shop’ from which to address the issues and execute a coordinated strategy ultimately added tremendous value for our client.”

Located at 2620 Watson Blvd. in Warner Robins, the property benefits from its location at the intersection of Watson Boulevard and Carl Vinson Parkway, which is crossed by more than 44,000 vehicles per day.

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

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

Pre-NATHIC Conference Survey Finds High Interest in Buying and Developing Hotels

 

Alexi Khajavi

 Miami, FL,  Oct. 1, 2015—Officials of the North American Tourism & Hospitality Investment Conference (NATHIC) in conjunction with Lodging Econometrics, the lodging industry’s leading consulting partner for global real estate intelligence, today announced that respondents to a survey of hotel owners and investors found high interest in both buying and building hotels-signifying a continuation of the current Lodging Real Estate Cycle.

  The survey includes responses from hoteliers who currently are “active” in the market. The 7th annual NATHIC event will be held November 4-6 at the Fontainebleau Hotel in Miami.  NATHIC is a part of Questex Hospitality + Travel's International Hotel Investment Forum (IHIF) Summit Series.

Development was the hottest topic on the survey, with nearly half of the participants opening one hotel in the past 12 months and approximately 30 percent opening two or more.  Nearly one-fourth has $50 million in equity for new construction investments, and 20 percent have $200-plus-million to leverage for hospitality investments. 

“With the outlook projected to remain positive for the hotel industry at least through 2017 and continued historically low interest rates, hotels continue to attract a great deal of interest from investors, especially giving the recent volatility of the capital markets,” said Alexi Khajavi  executive vice president, Questex Hospitality Group. 

“Although the survey group was targeted to owners/investors, we were somewhat surprised by the aggressive appetite of the respondents.  These are some of the critical topics that will be discussed in depth at the conference.”

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

Chris Daly, media

 (703) 435-6293

 chris@dalygray.com