Cohen Commercial Realty Completes Four Transactions in South Florida

Bryan S. Cohen

(Riviera Beach, FL) June 20, 2016—Bryan S. Cohen, William Soled and Chris McCarthy of Cohen Commercial Realty, Inc., announced  the closing on the sale of the Garden Office Center, a 44,297- square-foot building in Riviera Beach.  

This property rests on 2.5 acres of land located on the southwest corner of Garden Road and Blue Heron Blvd at 7289 Garden Road 101. 

The property will be the future site of a Wawa, Inc., a convenience store/gas station chain. Cohen Commercial represented the seller in this transaction.

 Indian Restaurant Takes 3,200 SF at Volusia Shoppes in Daytona Beach, FL

Daytona Beach, FL —Bryan S. Cohen, Jason Guralnick and Travis Langhorst of Cohen Commercial Realty, Inc., announced the signing of King of Curries Indian Restaurant to lease a 3,200-square-foot space at Volusia Shoppes located at 1448 W International Speedway Boulevard.  They join Central FL Orthodontics, Cornerstone Alterations, Aero Supplies and more.  Cohen Commercial represented the landlord in this transaction.

 9393 Alternate A1A Site in Lake Park, FL Sold

Allan Carlisle

Lake Park, FL — Bryan Cohen and Christopher McCarthy of Cohen Commercial Realty, Inc., announced the sale of 9393 Alternate A1A.  This 13,939-square-foot piece of land is located north of Northlake Boulevard in Lake Park.  Cohen Commercial represented the seller in this transaction.

Elegant Beauty Supplies Leases 5,782 SF at Shoppes at Cresthave in West Palm Beach, FL

 West Palm Beach, FL— Allan Carlisle and Bryan S. Cohen of Cohen Commercial Realty, Inc., announced the signing of Elegant Beauty Supplies to lease a 5,782-square-foot outparcel at the Shoppes at Cresthaven, located at 2601 South Military Trail in West Palm Beach.  Cohen Commercial represented the Landlord in this transaction.

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

Donna Cordes

Cohen Commercial Realty, Inc.

561.471.0212 Office

561.471.5905 Fax

donnacordes@cohencommercial.com

www.cohencommercial.com

Luxury Apartment Tower 1333 South Wabash Begins Pre-Leasing In Chicago’s South Loop

  

1333 South Wabash Condominiums, South Loop Neighborhood, Chicago, IL

CHICAGO,IL (June 22, 2016) — Chicago-based developer CMK Companies has announced the start of pre-leasing at 1333 South Wabash, a 305-unit luxury rental tower that is stepping into the spotlight of Chicago’s booming South Loop neighborhood.

Building on the success of its recently completed neighboring development at 1345 South Wabash, the first high-rise condominium tower to be built downtown since the recession, CMK will further expand its footprint in the South Loop with the opening of 1333 South Wabash in mid-August 2016.

Aaron Galvin

“The South Loop remains one of the hottest neighborhoods in downtown Chicago due to its proximity to the central business district and diverse retail, restaurant and entertainment offerings,” said Aaron Galvin, owner and managing broker of Luxury Living Chicago Realty, the exclusive leasing brokerage for 1333 South Wabash.

“While thousands of units are in the South Loop development pipeline, most are years from delivering, making 1333 South Wabash an attractive option for renters in search of a newly constructed community with condo-quality finishes and a highly walkable location.”

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

Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

http://www.luxurychicagoapartments.com.

www.1333wabash.com.

BLT Enterprises Acquires $12.6 Million Office Campus in San Diego’s Sorrento Mesa Market

Sorrento Tech II, Sorrento Mesa Submarket, San Diego, CA

Bernard Huberman

SAN DIEGO, CA (June 22, 2016) –  BLT Enterprises, a multi-faceted commercial real estate investment company, has acquired Sorrento Tech II, a two-building,  63,333 square-foot office and R&D campus located in the Sorrento Mesa submarket of San Diego for $12.6 million, according to Bernard Huberman, Founder and President of BLT Enterprises.

            The property was renovated in 2014 and was 87-percent leased to two large tenants at the time of the acquisition. 

            “BLT is focused on developing and acquiring high quality properties,” Huberman notes.  “This business park offers increased value through our ability to lease the final 8,000 square-foot space, as well as utilizing our in-house management team to ensure this property continues to offer high quality space in a strong submarket.”

Sorrento Mesa is home to tech tenants including Qualcomm, Verizon and Sony, has direct access to the I-805, and tenant amenities are available in the nearby Westfield UTC.

“The coastal regions of Los Angeles, Orange County, and San Diego are poised for continued economic growth and long-term value creation,” Huberman added.  “Our strategy is to acquire and develop commercial properties in primary growth markets, which is what we have accomplished with this property acquisition.”

Ron Jacobson

Ron Jacobson of Madison Partners represented BLT in the transaction.  The seller was represented by Sean Fulp and Brunson Howard of NGKF Capital Markets.  Sorrento Tech II is located at 10140 and 10180 Barnes Canyon Road, San Diego, California.

“We are very actively seeking additional properties in which we can bring value to companies and tenants seeking expansion in these dense population areas near major transit corridors,” Huberman reports.

BLT is currently in escrow on another property within the same market.

            Headquartered in Santa Monica, Calif., BLT Enterprises was founded in 1984 and is a multi-faceted real estate investment company with an exceptional track record of success in industrial and commercial real estate. The firm has developed or acquired more than $2 billion in assets to date.

BLT Enterprises specializes in the acquisition, entitlement, development, operation, and property management of industrial, office, retail, mixed-use and special-use properties

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

Devin Ugland/ Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

Dugland@browermillercole.com

HFF closes $6 million sale of grocery-anchored shopping center in Orlando, FL

East Orlando Shopping Center, 989--1007 North Semoran Boulevard (State Road 436), Orlando, FL

 

Brad Peterson

ORLANDO, FL, June 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $6 million sale of East Orlando Shopping Center, a 131,981-square-foot, grocery-anchored shopping center in Orlando, Florida. 

HFF arranged the sale on behalf of the seller, Kimco Realty Corp.  Mishorim Gold East Orlando L.P. purchased the asset free and clear of existing debt.

Situated at the “Main and Main” signalized intersection of East Colonial Drive (State Road 50) and North Semoran Boulevard (State Road 436), East Orlando Shopping Center is located at 989-1007 North Semoran Boulevard and boasts a combined traffic count of 116,000 vehicles per day.

The center is anchored by Bravo Supermarkets and Florida Career College and is home to shop tenants, including Amscot and Pizza Hut.  The trade area includes Orlando Fashion Square Mall and is among the largest retail nodes in central Orlando, serving residents of downtown and the surrounding communities.

 The 10.2-acre property includes two additional parcels totaling two acres, which are on ground leases.

  

The HFF investment sales team representing the seller was led by senior managing director Brad Peterson and associate director Whitaker Leonhardt.

Whitaker Leonhardt

“The sale of East Orlando Shopping Center is a strong indicator of the depth of retail investors searching for value-add infill opportunities,” Leonhardt said. 

“There were nearly a dozen groups that submitted offers to acquire the asset, with the eventual buyer being selected based on their competitive terms and successful track record buying from public companies.”

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

Kristen M. Murphy

Director, Marketing

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

blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

HFF arranges $41.79 million refinancing for Sheraton Sand Key Resort in Clearwater Beach, FL

Sheraton Sand Key Resort, Clearwater Beach, FL

 

Scott Wadler

MIAMI, FL, June 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $41.79 million refinancing for the Sheraton Sand Key Resort, a 390-room, full-service, resort-style, beachfront hotel in Clearwater Beach, Florida.

HFF worked on behalf of the borrower to place the five-year, fixed-rate loan with BankUnited.

The Sheraton Sand Key Resort is situated on a 21.1-acre parcel with 360-degree water views of both the Gulf of Mexico and the Intracoastal Waterway.

 Located at 1160 Gulf Boulevard, the hotel has beachfront access to more than 500 linear feet of Clearwater Beach, recently voted the Best Beach in the United States in 2016 by TripAdvisor, and is adjacent to Sand Key Park. 

Alexandra Lalos

The nine-story Sheraton Sand Key Resort features 24,000 square feet of indoor and outdoor function space, an outdoor pool overlooking the beach, fitness center, spa services, tennis and beach volleyball courts, whirlpool, apparel and gift shop and five food and beverage options, including Rusty’s Bistro, Island Grille, Poolside Café and Mainstay Tavern.

The HFF debt placement team representing the borrower was led by senior managing director and head of HFF’s hotel group Daniel C. Peek and associate directors Scott Wadler, Preston Reid and Alexandra Lalos.

“Lenders were attracted to the hotel’s generational ownership and management team, as well as its expansive, 10-acre beachfront on Sand Key,” Wadler said.

“The beaches of Pinellas County continue to earn national and international accolades, and, with its recent comprehensive renovation, the Sheraton Sand Key Resort is well positioned to capitalize on the millions of annual visitors coming to the area,” Reid added.

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

Kristen M. Murphy

Director, Marketing

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

HFF closes $91 million sale of 316-unit luxury multi-housing community in Cedar Knolls, NJ

  

Sterling Parc, Cedar Knolls, NJ

Jose Cruz

FLORHAM PARK, NJ, June 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $91 million sale of Sterling Parc, a 316-unit, Class A, garden-style, multi-housing community in Cedar Knolls, New Jersey.

HFF marketed the property exclusively on behalf of the seller, Invesco Real Estate (Invesco).  Cornerstone Real Estate Advisers, one of the largest global real estate investment advisers, purchased the asset on behalf of an institutional client.  HFF previously brokered the sale of the property to Invesco in 2007.

Sterling Parc is situated on a park-like 22.5-acre site within ten minutes of downtown Morristown in New Jersey’s affluent Morris County.

The property, built in two phases in 1988 and 2001, encompasses 27 buildings, which house 252 market-rate apartments, 56 age- and income-restricted apartments and eight income-restricted apartments across a mix of one-, two- and three-bedroom floor plans. 

Just over 50 percent of the market rate units have been renovated to a higher-finish level.  Units feature open kitchens, full-size washers and dryers, oversized walk-in closets, nine-foot ceilings and direct access garages.

Kevin O'Hearn

 Community amenities include a central clubhouse with an outdoor swimming pool, patio, grilling area, fitness center, business center and community room with full-size kitchen.  The property is 96 percent leased.

The HFF investment sales team representing Invesco was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Stephen Simonelli and Michael Oliver and associate director Marc Duval.

“This transaction continues to exemplify the high demand for well-located multifamily in the New Jersey suburban markets,” Cruz said.  “We had great activity and a very competitive process,” stated Cruz.  

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

Kristen M. Murphy

Director, Marketing

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.

Onix Venture Group Expands to 26,000 sq. ft. at Miramar Park of Commerce in Miramar, FL

  

Maridee Bell

MIRAMAR, FL (June 22, 2016) - Onix Electronics DBA Onix Venture Group, a multi-national manufacturer and distributor of accessories for mobile electronics, has expanded to 26,000 sq. ft. of office and warehouse space at 3137 Commerce Parkway in the Miramar Park of Commerce.

Since 2008, the company has expanded from 6,000 to 13,000 and now to 26,000 sq. ft. of space within the Park, the largest locally owned and managed business park in South Florida.

"As a locally owned and managed Park, we are flexible enough to accommodate the growth needs of companies like Onix Venture Group that require both office and warehouse space," said Maridee Bell, vice president of Sunbeam Properties, developer of the Park.

 "Because Onix distributes its products domestically and internationally, its location in the Miramar Park of Commerce is ideal for shipping and transporting throughout South Florida and beyond."

                                                                                                            

Onix Venture Group was formed in 2004 as the mobile electronics industry was taking shape. Onix's founders identified the growing demand for accessories for mobile electronics and created the company's first brand, KHOMO Accessories, which is recognized today by online markets worldwide for its bestselling protective cases for smartphones and tablets.

 For more information on Miramar Park of Commerce, contact Lauren Pace (lpace@wsvn.com) or Maridee Bell (mbell@wsvn.com) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.

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

Lexi Robinson

lrobinson@piersongrant.com

Johnny Anidjar, Onix Electronics, 3137 Commerce Parkway, Miramar, FL 33025, 786-488-4329, sales@top10electronics.com

$6.74 million sale of gfs marketplace in Miami, fl arranged by marcus & millichap

Gordon Food Service Marketplace, 5600 West Flagler Street, Miami, FL

 

Ronnie Issenberg

MIAMI, FL,  June 22, 2016 – 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 Gordon Food Service Marketplace, a 17,431-square foot net-leased grocery store located in Miami. The asset sold for $6,735,000.

            “This was a unique opportunity to acquire a double-net, investment grade asset leased to a corporate-guaranteed retail grocer with more than seven years remaining on its base term,” says Ronnie Issenberg, a vice president investments in Marcus & Millichap’s Miami office. “The property sold for just under list price to a local private real estate investor.”

Issenberg, along with Gabriel Britti and Scott C. Sandelin, vice president investments, and Al Palacios, a senior associate, also in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller.

The 17,431-square foot GFS Marketplace is situated on a 45,100-square foot lot near the Miami International Airport. With more than 170 locations across the United States, GFS Marketplace the largest family-operated broad line food distribution company in North America.

The property is located at 5600 West Flagler Street.

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

Kirk A. Felici

First Vice President/Regional Manager

Miami, FL

(786) 522-7000

Newmeyer & Dillion Appoints Partner Carol Zaist as General Counsel

  

Carol Zaist

 NEWPORT BEACH, CA – Prominent business and real estate law firm Newmeyer & Dillion LLP is pleased to announce that partner Carol Zaist has been named the firm’s General Counsel. Zaist will report to the Managing Partner, Executive Committee and other senior level management as it relates to the firm’s governance and policy matters. Zaist’s appointment is effectively immediately.

“We are excited to have appointed Carol as the firm’s General Counsel,” said Jeff Dennis, Newmeyer & Dillion’s Managing Partner. “As we continue to expand across markets, this is another proactive measure to ensure our strategic growth and success.”

Zaist is a partner in the Newport Beach office of Newmeyer & Dillion, concentrating her practice on business litigation, real estate litigation, and probate litigation.  She has significant experience advising clients in contract disputes, business and property torts, and trademark and trade secret disputes in both federal and state jurisdictions. 

Zaist also serves as strategic counsel, advising clients on the impact of multiple litigation matters in different jurisdictions, and integrating strategy and tasks efficiently and cohesively. She will lend this variety of experience to her new role as General Counsel for the firm.

Jeffrey Dennis

“I am honored and thrilled to work with our managing partner and Executive Committee to assist the firm in its strategic growth and development,” said Zaist.

For more than 30 years, Newmeyer & Dillion has delivered creative and outstanding legal solutions and trial results for a wide array of clients.  

With over 70 attorneys practicing in all aspects of business, employment, real estate, construction and insurance law, Newmeyer & Dillion delivers legal services tailored to meet each client’s needs.  

Headquartered in Newport Beach, California, with offices in Walnut Creek, California and Las Vegas, Nevada, Newmeyer & Dillion attorneys are recognized by The Best Lawyers in America©, and Super Lawyers as top tier and some of the best lawyers in California, and have been given Martindale-Hubbell Peer Review's AV Preeminent® highest rating.

For additional information, call 949-854-7000 or visit www.ndlf.com.

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

Gia Altreche 949.271.7338 or gia.altreche@ndlf.com