Marcus & Millichap Arranges $1.26 Million Sale of 33-Unit Miami, FL Apartment Building

  

33-Unit Miami, FL Apartment Building, 1281 NW 61st Street, Miami, FL

Felipe J. Echarte

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 1281 Building, a 33-unit apartment property located in Miami, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,260,000.

Alejandro Gonzalez, associate, Evan P. Kristol, senior vice president investments, and Felipe J. Echarte, vice president investments, 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 Miami, FL.  The buyer was a private investor from Fort Lauderdale, FL.

Built in 1957 on a 0.36 acre lot the property is comprised of 33 units in a three-story building.  The unit mix is comprised of 30 one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units. 

1281 Building is located at 1281 NW 61st Street in Miami, FL is located within the Liberty City submarket on the corner of Northwest 61st Street and 13th Avenue.

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

Ryan Nee

Vice President / Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

Lincoln Wins Leasing Assignment for Former Aaron’s, Inc. Headquarters in Atlanta, GA

Former Aaron's Inc. Building, 309 East Paces Ferry Road,
Buckhead Submarket, Atlanta, GA

Michael Howell

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has been awarded the leasing assignment for the 100,000-square-foot former Aaron’s, Inc. building, located at 309 East Paces Ferry Road in the Buckhead submarket of Metro Atlanta.

Michael Howell and Hunter Henritze will oversee the leasing for the 80,000-square-foot office portion of the building while Brittany McCall with Vantage Realty Partners will oversee leasing for the ground floor retail portion of the building.

Development partners Hardman Knox of Knox Properties and Cameron Golden of Redan Group, along with The Loudermilk Companies, are redeveloping the building, to be named 309 East Paces Ferry. 

The redeveloped office building will feature Class A office space with 8,000-square-foot floor plates, large windows, a red brick “mercantile” exterior and a signature ground floor restaurant.

“Given all the traditional Class A options along the Peachtree corridor of Buckhead, we believe this unique building will appeal to a wide variety of tenants looking for something different but still expecting the Class A quality, image and service they have been accustomed to,” Howell said.

Brittany McCall

“Tenants are looking for alternatives to traditional office space, but still want the perks that come with a Buckhead location in order to attract and retain the best talent. 309 East Paces Ferry is the first Buckhead project that we believe will appeal to both the millennial and baby boomer.”

Hunter Henritze

Redevelopment of the building began in August, and is slated for completion in July of 2017. 

Plans for the building entail significant exterior and interior upgrades to include new, full height windows, new mechanical systems and renovated restrooms and common areas.

The office portion will feature efficient floorplates with exposed ceilings and natural lighting while the ground floor retail space will feature high-end shopping to include a restaurant.

The building offers a central, walkable location next to Buckhead Atlanta, which features countless amenities including high-rise apartments, restaurants and high-end retailers.

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

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

Rivergate KW Residential to Manage Vistas @ 707 Apartments in Uptown Charlotte, NC

Vistas@707 Apartments, 707 Seigle Avenue, Uptown District, Charlotte, NC

Troy A. Drawz

CHARLOTTE, NC, Sept. 19, 2016 — RIVERGATE KW RESIDENTIAL, a multifamily property management company, has taken over management of Vistas @ 707, a 190-unit apartment community in Charlotte’s vibrant Uptown area, owned and developed by Horizon Development Properties (HDP).

Opened in July 2015, Vistas @ 707 is located at 707 Seigle Ave., adjacent to the I-277 beltline with easy access to I-77, I-85 and Independence Boulevard. 

The community includes a mix of one, two and three-bedroom apartments with upscale finishes such as stainless steel appliances.

 Community amenities include a saltwater swimming pool, resident gaming lounge and fitness center with yoga studio. Vistas @ 707 provides upscale housing options with an affordable rent structure.

Vistas @ 707 is adjacent to Little Sugar Creek Greenway, where residents can enjoy basketball, cycling, walking and unparalleled city views.

RIVERGATE KW RESIDENTIAL’s portfolio of high-end Charlotte apartment units continues to grow. In June, the company announced that it was hired to manage the brand-new Cedar Flats boutique community. Like Vistas @ 707, Cedar Flats is located in the Uptown area.

“Uptown Charlotte is extremely appealing to renters who seek a true live/work/play environment,” said Marcie Williams, President of RIVERGATE KW RESIDENTIAL. “That should intensify as more apartments, office space, retail shops and hotels are constructed. We are so excited to work with the residents and the owner of Vistas @ 707, Horizon Development Properties.”

Marcie Williams

“We are very excited to have RIVERGATE KW RESIDENTIAL managing Vistas @ 707,” said Troy A. Drawz, Chief Development Officer for HDP. “They have the experience and people-first philosophy that our residents demand. We are extremely confident their team will add significant value to our community.”

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

Eric Kalis or Ashley Fierman, BoardroomPR

ekalis@boardroompr.com/afierman@boardroompr.com

954-370-8999

 www.rkwresidential.com

Bull Realty Brokers $10.2 Million Tract of Land in Henry County, GA

Perry Hayes

ATLANTA, GA — Bull Realty brokered the sale of a 920 acre contiguous land tract located on Georgia State Route 20 between McDonough and Hampton, GA. The sale closed on Aug. 31, 2016 for $10.2 million.

Located a few miles from soon-to-be “Jodeco Atlanta South,” (a proposed $300 million mixed-use project), the tract has been master planned for a commercial, residential and retail development known as Henderson Farms.

The proposed master development plan is made up of 6 pods, the largest of which is 454 acres zoned for 415 estate homes and 66 attached senior ranch condos. 

Plans also include 156 acres of mixed-use along Georgia State Route 20 bordered by a total of 106 acres of multifamily. Remaining acreage includes 102 acres of single-family detached residential and proposed sites for a church and daycare.

Perry Hayes and Tom French handled the assignment for Bull Realty and the seller, Henderson Farms, LP. The purchase served as a replacement property for a 1031 buyer, Henderson Farms Henry, LLC.

Tom French

“It’s a good sign for the economy that the marketing of this property brought out multiple buyers, especially since the property is located 34 miles from downtown Atlanta in Henry County, which is considered a suburban county,” said Hayes.

For more information contact Bull Realty at 404-876-1640 or Info@BullRealty.com - Bull Realty, Inc. (www.BullRealty.com) is a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in ten states providing acquisition, disposition, leasing and advisory services. 

The firm also produces and hosts The Commercial Real Estate Show (www.CREshow.com).

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

Melissa Henry

Communications Manager

Bull Realty, Inc. 

404-876-1640 x 110