Lincoln Brokers Three Office Leases Totaling Nearly 24,000 Square Feet at One Eleven in Orlando, FL

Austin Stahley

 ORLANDO, FL – Lincoln Property Company Southeast (Lincoln) has brokered three office leases totaling 23,958 square feet at One Eleven in Orlando, Florida. Austin Stahley of Lincoln represented the landlord in the transactions, and Coughlin Commercial represented the tenants. The details of the transactions are below:

·      Houston International Insurance Group, Ltd. (HIIG), an insurance holding company, signed a new 5,569-square-foot lease.

·      Envy Labs, a leading web consultancy based in Orlando, signed a new 4,722-square-foot lease.

·      Huitt-Zollars, an engineering design firm, signed a new 13,667-square-foot lease.

“One Eleven’s occupancy has grown from 75 percent at the end of 2014 to more than 94 percent, proving the health of the downtown Orlando market and the surrounding submarkets,” said Stahley.

“Many of the new tenants are tech companies demonstrating once again that Orlando is right there with other emerging tech cities like Austin and Nashville. It’s a great opportunity to push the envelope and help grow this city.”

One Eleven, Downtown Orlando, FL

One Eleven is a revolutionary mixed-use project in downtown Orlando comprising of a dynamic mix of retail, office and residential with breathtaking views of the skyline and Lake Eola. 

The office tower includes 10,000 square feet of retail space, 150,000 square feet of office space, and 160 apartment units. The 30-story, 162,240-square-foot property is located at 111 North Magnolia Ave. in Orlando.

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

Laura Rispin • The Wilbert Group

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

M: 404-630-0148

www.thewilbertgroup.com

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Four-Unit Stroud Apartments in Tampa, FL Sold for $315,000 in Deal Brokered by Marcus & Millichap

Casey Babb

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Stroud Apartments, a four-unit apartment building located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $315,000.

Shawn Rupp, associate, Luis Baez, senior associate, and Casey Babb, CCIM and 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 the three brokers.

The Stroud Apartments is a four-unit apartment property located within the Class “A” Hyde Park submarket of South Tampa at 2415 West Stroud Avenue. 

Luis Baez

Originally built in 1924, the property consists of two-bedroom/one-bathroom apartments home, which average 850 square feet and feature private entrances, high ceilings, central HVAC and ample parking.

 The units are housed in a two-story, garden apartment building with stucco exteriors and a flat roof. Hyde Park is one of the strongest rental submarkets in the Tampa Bay region and its central location is a haven for young professionals and early families due to its walkability, safety and favorable school districts.

“This was a rare opportunity in Tampa’s strongest submarket to restore a structurally unsound building and highly distressed building into a future high-rent property,” says Rupp.

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

Richard D. Matricaria

First Vice President / Regional Manager

 Tampa, FL

(813) 387-4700

Marcus & Millichap Brokers $4.96 Million Sale of River Hills Plaza in Valrico, FL

James Medefind

VALRICO, 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 River Hills Plaza, a 34,500-square foot shopping center located in Valrico, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $4,962,500.

James Medefind, senior associate, and Armando Rodriguez, associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

The buyer was a private investor from Canada, and this is the second transaction he has closed with the Tampa office retail agents.

River Hills Plaza is a 34,500-square foot shopping center located at 4325 Lynx Paw Trail in Valrico, Florida, an affluent Tampa suburb located only 25 minutes from downtown Tampa.

Built in 2004, the property was 93 percent occupied at the time of sale by an attractive tenant mix, including well-known local restaurants, attorney services, financial services, doctors and child care. 

Armando Rodriguez

The plaza is ideally located on Lithia-Pinecrest Road at a lighted intersection, halfway between Brandon and the exclusive community of FishHawk Ranch. 

Retail developments and roadway expansion projects, including a brand new Walmart Supercenter just north of River Hills Plaza and plans to expand Lithia-Pinecrest, are indicators of the long-term stability and short-term growth in rental rates for this submarket.

“Over a one-week period, through the marketing platform of the Medefind Retail team, we were able to generate three new offers on the asset, in addition to two previously received offers. 

"By creating a competitive marketplace, the seller was able to receive the strongest offer, with the best terms, that the market could bear,” says Rodriguez. 

“The buyer performed flawlessly throughout the contract period and consistently met the contract deadlines on-time and early on several occasions. This allowed the sale to close nearly one month earlier than the contract required, with financing, because both the seller and buyer were motivated to close early.”

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

Richard D. Matricaria

First Vice President / Regional Manager

 Tampa, FL

(813) 387-4700

Marcus & Millichap Arranges Sale of 44,793-square foot self-storage facility in Beverly Hills, FL

BEVERLY HILLS, 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 Diamond Self Storage, a 44,793-square foot self-storage facility located in Beverly Hills, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

Michael A. Mele, senior director of the firm’s National Self Storage Group and senior vice president investments, Luke Elliott, senior associate, and Brian Baldwin, associate, 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 the three brokers.

Michael A. Mele

Diamond Self Storage is a 44,793 net rentable square foot self-storage facility located at 4239 North Modelwood Drive in Beverly Hills, Florida. The facility consists of a total of 425 units and was constructed in 2002. It is situated on approximately 2.84 acres, and is secured by electronic gate access and recorded video surveillance.

The property is located in Citrus County, along Florida’s Gulf Coast. Citrus County, commonly known as the "Nature Coast", offers a strong business climate paired with an exceptional quality of life due to its low labor costs and affordable living costs.

The property is 4.5 miles southwest of Highway 41 and only two miles northeast of Black Diamond Ranch, which was rated the #1 golf community in Florida by both Golf Week and Florida Golf Magazine.

“Marcus & Millichap was designed to help private clients and the success of the seller in this situation demonstrates this in graphic fashion. Controlling the process from listing to close in just over 90 days, we drove multiple, qualified offers to the seller and ultimately closed with a regional investor outside the traditional buyer pool,” says Elliott.

“Understanding what works on these facilities and having worked in them for years, really give us an edge on explaining to outside capital why they make sense,” added Baldwin.

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

Richard D. Matricaria

First Vice President / Regional Manager

 Tampa, FL

(813) 387-4700