Cohen Commercial Realty Signs Labor Finders to 1,150-SF Lease at Town Square Shopping Center, Sebring, FL

Bryan S. Cohen

 SEBRING, FL  — Bryan Cohen, Jason Guralnick, and Chris McCarthy of Cohen Commercial Realty, Inc., announced the signing of Labor Finders to lease a 1,150-square-foot space at the Town Square Shopping Center. The Town Square Shopping Center is located on the southeast corner of Lakeview Drive and Kenilworth Boulevard in Sebring, Florida. Cohen Commercial represented the Landlord in this transaction.

Divine Beauty Hair Salon Leases 900 SF at Jupiter West Plaza, Jupiter, FL

JUPITER, FL  — Allan Carlisle and Bryan Cohen of Cohen Commercial Realty, Inc., announced the signing of a 900-square-foot space to Divine Beauty Hair Salon in the Jupiter West Plaza, located on Indiantown Road in Jupiter, Florida. Cohen Commercial Realty represented the Landlord in this transaction.

 Siempre Tax Takes Space at Turnpike Plaza, West Palm Beach, FL

November 2, 2015 (West Palm Beach, Fla.) —Allan Carlisle and Bryan Cohen of Cohen Commercial Realty, Inc., announced the signing of Siempre Tax, an affiliate of Liberty Tax, at Turnpike Plaza on Okeechobee Boulevard in West Palm Beach, Florida. Cohen Commercial represented the Landlord in this transaction.

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

 Kacy Martin

Cohen Commercial Realty, Inc.

561.471.0212 Office

561.471.5905 Fax

kacymartin@cohencommercial.com

www.cohencommercial.com

HFF named to market for sale 148 Duane Street in Tribeca, Manhattan, NY

148 Duane Street, Tribeca Neighborhood, Manhattan, NY

Eric Anton

NEW YORK, NY –Holliday Fenoglio Fowler, L.P. (HFF) announced it has been named to market for sale 148 Duane Street, a luxury residential conversion opportunity in Manhattan’s Tribeca neighborhood.

148 Duane Street has four high-ceilinged, full-floor residential units totaling 13,700 rentable square feet, 3,972 square feet of ground floor retail and a 2,889-square-foot cellar. 

The property also includes a penthouse unit that will feature a private swimming pool and more than 3,500 square feet of outdoor space post renovation.

 The building is situated near the intersection of Duane Street and West Broadway approximately one block from the Chambers Street metro station and within walking distance to all of Tribeca’s retail, dining and entertainment attractions.

 In addition, the property is one half of a mile from Goldman Sachs World Headquarters, One World Trade Center and Brookfield Place, the newly-developed luxury lifestyle center overlooking the Hudson River.

The HFF investment sales team representing the seller is led by senior managing director Eric Anton, managing director Rob Rizzi and associate director Steven Rutman.

“We are excited to be marketing this rare opportunity to acquire a classic loft elevator building primed for conversion to luxury condominiums in New York City’s most desired residential neighborhood,” said Anton.

“Beyond its excellent location, the property’s appeal is furthered by the fact that the owner has already obtained all of the various approvals and permits to renovate the entire property and transform it into the leading luxury building in the area.  Additionally, the property has more than 1,873 square feet of air rights that may be utilized upon further approval,” Rutman added.

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 arranges sale of 4990 Fairmont in Bethesda, MD

Rendering of planned 4990 Faisrmont Avenue,
 Downtown Bethesda, MD

WASHINGTON, D.C. – November 11, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged the sale of a 22,884-square-foot infill land site located at 4990 Fairmont Avenue in downtown Bethesda, Maryland on behalf of Starr Capital, LLC.  Duball Fairmont, LLC, an affiliate of Duball, LLC was the acquiring party.

The site is fully entitled for a 17-story structure encompassing a 13-story, 71-unit luxury residential component situated atop a four-level, above-grade parking garage and 2,500 square feet of ground floor retail.

Founded in 2003, Starr Capital LLC invests in real estate assets for cash flow and development throughout the Washington, D.C. Metropolitan area with a focus on multifamily, retail and hospitality sectors.  Visit starrcapital.com for further information.

Duball, LLC (www.Duball-LLC.com), founded in 2004, is one of the leading real estate developers in the Washington, D.C. region with over 1.8 million square feet currently under development. 

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 $27.7 million refinancing for New Orleans grocery-anchored shopping center

Algier's Plaza, Algiers Neighbordhood, Five Miles Southeast of Downtown New Orleans, LA

De'On Collins

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $27.7 million loan for Algiers Plaza, a recently-renovated 236,389-square-foot shopping center anchored by Winn Dixie in New Orleans, Louisiana. 

HFF worked on behalf of the borrower, N3 Real Estate, to place the floating-rate loan with BBVA Compass.  

Loan proceeds were used to pay off a construction loan, acquire all of the minority partnership interests and fund future capital improvements and leasing costs at the property.

Algiers Plaza recently underwent extensive renovations, adding new junior tenant space for Petco, Ross Dress for Less, TJ Maxx and Burke’s. 

The 85-percent-leased center is also home to a recently-remodeled Winn Dixie, Payless Shoe Source, Buffalo Wild Wings, Mattress Firm and Walgreens.

 Situated on 24.98 acres, the property is on the West Bank of the Mississippi River approximately five miles southeast of downtown New Orleans in the Algiers neighborhood.  The property is located along General deGaulle Drive, a main thoroughfare with more than 50,000 vehicles per day.

The HFF debt placement team was led by associate director De’On Collins and senior managing director Travis Anderson.

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.n3realestate.com.

HFF arranges equity and construction financing for Class A spec industrial development in Denver, CO

Rendering of planned Central 62 Distribution Center, Denver, CO

 DENVER, CO –Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged equity and construction financing for the development of Central 62 Distribution Center, a 124,600-square-foot, Class A, spec industrial warehouse and distribution facility in Denver, Colorado. 

HFF worked on behalf of the developer, Corum Real Estate Group, to arrange the joint venture equity partnership with a pension fund advisor.  In addition, HFF secured the construction loan for the partnership through a local bank. 

Josh Simon

Central 62 Distribution Center will be situated on a 7.57-acre site at the northeast corner of East 62nd Avenue and Interstate 25, the primary north-south interstate running through the western part of the Rocky Mountains.

 Five miles from Denver’s CBD, the center is near the 70th Avenue interchange and provides access to other major freeways, including Interstates 70, 71, 76 and 270.  The center is proximate to rail access and is 24 miles from Denver International Airport.

  Designed by Ware Malcomb architects, the center will consist of a one-story, multi-tenant building with 28’ clear heights and 22 dock-high doors.

 When completed in 2016, Central 62 Distribution Center will be one of the only Class A industrial buildings in the northeast submarket.

The HFF equity and debt placement team representing the borrowers was led by Josh Simon.

”Corum was able to find an unbelievable industrial development site in the heart of central Denver,” Simon said.  “Given the site attributes and the scarcity of industrial opportunities in the market, we had a tremendous amount of interest from capital creating a highly competitive environment to capitalize the deal.”

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.corumrealestate.com

HFF closes sale of 5000 Birch in Newport Beach, CA

5000 Birch, Newport Beach, CA

Ryan Gallagher

 IRVINE, CA -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 5000 Birch, a two-building, Class A office property totaling 297,617 square feet in Newport Beach, California.

HFF marketed the property on behalf of the seller, an institutional client of Cornerstone Real Estate Advisers.  John Hancock Real Estate, the U.S. Division of Manulife Financial Corp., purchased the asset.

5000 Birch consists of the six-story East Tower and the 10-story West Tower, which combined are 80 percent leased.  Situated on 3.92 acres at the gateway between Newport Beach and the Irvine Business Complex, the property has easy access to Interstate 405, Highway 73 and the John Wayne Airport.

 5000 Birch is also convenient to executive housing in Newport Beach, Newport Coast, Corona Del Mar, Irvine and Laguna Beach as well as the retail offerings at Fashion Island and South Coast Plaza. 

The HFF investment sales team representing the seller was led by senior managing director Ryan Gallagher, managing director Mike McCann, director Tim Geiman and associate director Derreck Barker. 

“5000 Birch is one of only five properties of its size within the city of Newport Beach and due to restrictive city ordinances for new development, the new owner will likely face zero supply risk within this prestigious zip code,” said Gallagher. 

“In addition, the property will greatly benefit from its location in the ‘Jamboree Corridor’ that is redefining itself as a walkable, urban community with record levels of residential and retail construction that will ultimately drive office demand, higher occupancy and rent growth.”

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.cornerstoneadvisers.com.

Lincoln to Lease and Manage Former Primerica Corporate Headquarters in Duluth, GA

Jeff Henson

 ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has been selected to lease and manage the two-building former Primerica company headquarters, located at 3200 Breckinridge Blvd. in Duluth, Georgia.

Jeff Henson will lead the leasing efforts on behalf of the landlord, Toronto, Canada-based Republic Funds.

“With a prime location within the Gwinnett County Opportunity Zone, close proximity to I-85 and major renovations underway, this highly desirable property is poised to attract a large best-in-class tenant,” Henson said. “The large, customizable floor plates and campus setting are perfect for a company’s headquarters.

The Gwinnett County Opportunity Zone allows tenants to receive up to $16.5 million in tax credits for job creators at $17,500 per job over five years. Duluth is home to more than 120 international headquarters, and has the strongest private-sector job performance across Metro Atlanta during the past 10 years.

The property includes 190,000 square feet of office and data center space, heavy power and ample parking which is expandable. In 2015, the property kicked off a seven-figure renovation including many above standard interior finishes, as well as extensive exterior and landscaping work. Estimated completion is slated for early 2016.

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

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

Governors Lakes 200 Offers 102,364 Square Feet of Class A Office Space in Atlanta’s Desirable Peachtree Corners Submarket

Tony Bartlett

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) is marketing Governors Lakes 200, a 102,364-square-foot Class A office building located in Atlanta’s Peachtree Corners submarket, for lease.

“The Governors Lakes 200 building is the perfect opportunity for a large corporate office or headquarters, offering 20,000-square-foot footplates, a mix of open and private offices, and a prime location with easy access to I-285,” said Tony Bartlett, senior vice president at Lincoln who oversees the Atlanta office. “

With rental rates increasing and space tightening in the Central Perimeter area, tenants are running out of options. Governors Lakes 200 offers a fantastic value comparatively.”

Governors Lakes 200 is located at 6801 Governors Lake Parkway in Norcross, Georgia, and offers visibility along Peachtree Industrial Boulevard. The private, wooded environment offers a lake with walking trails, a fitness center.

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

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

Marcus & Millichap Brokers $2.2 Million Sale of 25-Unit Miramar Gardens Apartments in Miramar, FL

 

Daniel J. Cunningham

MIRAMAR, 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 Miramar Gardens Apartments, a 25-unit apartment property located in Miramar, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $2,200,000 equating to $88,000 per unit.

Daniel J. Cunningham, an Associate Vice President, Investments, Derek R. Gibbs, an Associate Vice President Investments, and Evan Richardson, an associate, all in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Hollywood, Fla.

Miramar Gardens Apartments is a 25-unit apartment community consisting of a single, two-story apartment building which was constructed in 1975.  The unit mix is comprised of one, three-bedroom/three-bathroom unit, one three-bedroom/two-bathroom unit, eight two-bedroom/one-bathroom units, and 15 one-bedroom/one-bathroom units.

“Unwavering investor interest and additional migration of capital from Miami-Dade in search of higher yields continue to support a liquid investment market and place upward pressure on values in Broward County,” says Cunningham.

“This property is 100 percent occupied and a majority of the units have received interior renovations. The property’s historically high occupancy can be attributed to the nearby ‘A-rated’ elementary, middle and highs schools, trade schools and college campuses,” Gibbs adds.

Miramar Gardens Apartments is ideally positioned less than a quarter-mile from State Road 7 and Hallandale Beach Boulevard (SR 858), and is within a close proximity to area’s major retail and schools.  The property is located at 6024 SW 26th Street.

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

Ryan Nee

Regional Manager, Fort Lauderdale

(954) 245-3400

Douglas Elliman Real Estate Lease Space for Office and Retail at 801 Brickell in Miami, FL

Stephen Rutchik

MIAMI, FL – Douglas Elliman Real Estate, one of the nation’s largest residential real estate brokerages, is the newest tenant at 801 Brickell. The company leased office and retail space at the iconic tower, in the heart of Miami’s financial district.

Stephen Rutchik, Executive Vice President at Colliers International South Florida, represented the landlord, TIAA-CREF. David Restainer, Managing Director of Douglas Elliman’s Commercial Division, represented the tenant.

Douglas Elliman will be occupying a little less than 1,000 rentable square feet of high profile prime retail space for a showroom and conference room facing 8th Street, as well as a larger office space on the second floor.

“Douglas Elliman is a great company to work with and we are thrilled they will be opening in 801 Brickell,” said Colliers’ Rutchik. “They have a tremendous brand and business that fits well with the building and they were also attracted by the opportunity to be near the entrance of the soon to be opened restaurant.”

801 Brickell is soon to be home to KOMODO, a three-story Asian-inspired restaurant with indoor-outdoor dining.

For the latest news from Colliers International, visit Colliers.com or follow us on Twitter (@ColliersIntl) and LinkedIn.

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

Leah Saunders

B2 Communications

Office: (727) 895-2030, ext. 104

Cell: (813) 924-0367

Email: Leah@B2communications.com

Hotelier Ken Ford Dies Following Auto Accident

Ken Ford

            PORTSMOUTH, NH — Hotelier Kenneth Wayne Ford, 44, partner and officer of National Hotel Realty and New England Hotel Realty and a director and officer of Lodging Econometrics, died from complications following an automobile accident.

Ford’s career spanned more than 20 years of hospitality experience, including hotel management, asset management, turnaround expert and as a real estate advisor and consultant.

 As vice president of National Hotel Realty and New England Hotel Realty, he led the companies’ hotel real estate brokerage activities regionally and nationally. 

He also played a key role in Lodging Econometrics, the global real estate consultancy and intelligence firm.  Ford was a Certified Hotel Broker (CHB).    

            He was active in his community, faith and family.  He was a past chair of the Advisory Board of St. Mary Academy in Dover, NH.  He re-energized the scouting community, forming his community’s first Boy Scout Pack in 20 years and was also a Scoutmaster. 

He held a Bachelor’s Degree from Assumption College, Worcester, MA and an MBA from Southern New Hampshire University.  He was a New Hampshire All-State linebacker in high school and played football in college.

He is survived by his wife and three children, father, sister and four brothers.  In honor of Ford, contributions may be made to St. Mary Academy, 222 Central Avenue, Dover, NH 03820, for scholarships, or to Boy Scout Troop 168- Parish of the Assumption, 150 Central Avenue, Dover, NH 03820.

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

Chris Daly (Media)

Daly Gray, Inc.

(703) 435-6293

$7.5 Million Sale of Amerijet International Headquarters in Fort Lauderdale, FL Handled by Marcus & Millichap

Marc E. Strauss

FORT LAUDERDALE, 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 AmeriJet International Headquarters, a 29,209-square foot, net-leased property located in Fort Lauderdale, Fla. The asset sold for $7,500,000.

Marc E. Strauss, a first vice president investments, and Richard Moravek, an associate, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a developer from Fort Lauderdale, Fla.

“We brought the property to market in May 2014 and even though the offering generated the kind of robust interest we expected, many buyers were concerned if AmeriJet would renew their lease upon expiration,” says Moravek. “As a result, finding the right buyer took time and considerable effort.”

Strauss and Moravek worked with Julie Berry of Stiles Corporation who represented the buyer, a limited liability company from Fort Lauderdale, Fla.

“The winning bid was to a buyer willing to assist the tenant with increasing on-site parking.  They purchased the property at list price,” adds Strauss. “We were able to overcome the deal’s challenges to provide both the buyer and seller with advantageous outcomes.”

AmeriJet International Headquarters is a 29,209-square foot, one-story office building which includes a 5,000-square foot receiving area. The property is 100 percent occupied by AmeriJet, a group of companies that offer a diverse range of air, ocean, and land freight shipping and transportation services. The property is located at 2800 South Andrews Avenue in close proximity to the Fort Lauderdale Airport and Port Everglades.

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

Ryan Nee

Regional Manager, Fort Lauderdale

(954) 245-3400

Prohibition Restaurant & Speakeasy in Midtown Miami, FL Sold for $3.25 Million in Deal Brokered by Marcus & Millichap

Prohibition Restaurant & Speakeasy, 3404 North Miami Avenue, Midtown Miami, FL

 

Scott C. Sandelin

MIAMI, 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 Prohibition Restaurant & Speakeasy, a 4,900-square foot restaurant building located in Midtown Miami. The asset sold for $3,250,000 representing $663 per square foot.

Scott C. Sandelin, a vice president investments, and Jonathan De La Rosa, an associate, in Marcus & Millichap’s Miami office represented the seller, local developer Alexander Karakhanian, and the buyer, a private investor from New York City.

“The northeastern corridor of Miami is coming alive with adaptive reuses and new development,” says Sandelin. “The allure of this property is its prime location across from the Midtown Mall and its proximity to the Wynwood and Design District submarkets, where rents are skyrocketing.”

“Investor appetite for Midtown retail properties continues to grow and Prohibition Restaurant is the epitome of ‘urban retail’. At $1,000 per square foot for the land, the sale sets a record selling price for the area,” adds De La Rosa. 

The property has 4,900 square feet of rentable space with a 3,080-square foot lot. In 2011, the building underwent a $2.5 million build-out which included a brand new roof. Currently Prohibition Restaurant & Speakeasy has 3.5 years remaining on the lease with one seven-year option.

Prohibition Midtown is located at 3404 North Miami Avenue - directly across from Midtown Mall with national retailers such as Target, Marshalls, Ross, PartyCity, Sports Authority and many more.

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

Kirk A. Felici

First Vice President/District Manager, Miami

(786) 522-7000

Marcus & Millichap Arranges $1.6 Million Sale of Lighthouse Point Plaza in Lighthouse Point, FL

Howard Bregman

LIGHTHOUSE POINT, 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 Lighthouse Point Plaza, a 19,616-square foot retail center located in Lighthouse Point, Fla. The asset sold for a total of $3,150,000 in two separate transactions.

 The land sold for $1,600,000 and the strip center sold for $1,550,000.

Howard Bregman, a senior associate, and Christopher Hahn, an associate, both in Marcus & Millichap’s Fort Lauderdale office, represented the sellers in both transactions.  Bregman and Hahn also represented the buyer, a private investor based in South Florida.

“This was an excellent opportunity for an investor to acquire a well-maintained, value-add retail shopping center in a high traffic, densely populated travel area,” says Bregman. “There is tremendous upside in the ability to increase cash flow by leasing out current vacancies.”

Lighthouse Point Plaza is 30 percent occupied by a karate studio and physical therapy tenant. The property is located at 4750-4758 North Federal Highway and sits on 1.66 acres. 

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

Ryan Nee

Regional Manager, Fort Lauderdale

(954) 245-3400