JLL Lease Establishes Arizona's First Tire’s 83,000-SF Warehouse Distribution Center in Phoenix

Kyle Westphall

PHOENIX,AZ – The Phoenix office of JLL has completed an 83,000-square-foot lease that establishes well-known tire distributor Tire’s Warehouse Inc. (TWI) in its first-ever Arizona location and its only distribution center outside of California.

The new facility, which is located at 1502 E. Buckeye Rd. in Phoenix, brings TWI to seven distribution centers across the West, including one new center just opened in Northern California’s Union City. 

TWI is scheduled to open its Arizona location on Sept. 26, 2016. The distribution center will generate as many as 50 new jobs for the Valley within the first two years of operation.

JLL Associate Kyle Westfall and Executive Vice Presidents Pat Harlan and Steve Sayre represented TWI in the lease negotiations. The property landlord, Harrison Properties, represented itself.

“Opening the doors of our first distribution center in Arizona is a monumental step for our company,” said Dan King, President of TWI. “The recent success of our new Northern California branch has helped us to prepare for continued market expansion into all-new territories.

“ Our entire team has been working diligently to support our rapid growth and we are very excited to bring our exceptional service and dealer programs to our new Arizona customers.”

Pat Harlan

“TWI’s selection of Phoenix as its first distribution center outside of California speaks volumes about our strength as a consumer market and our strategic position in the distribution supply chain,” said Westfall. “TWI is one of many companies expanding into Arizona and putting these advantages to work for their operations and their customers.”

With its new Phoenix location, TWI now operates a total of 600,000 square feet of space and 100 delivery trucks, serving dealers throughout California, Nevada and Arizona.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

www.jll.com or www.jll.com/phoenix.

www.tireswarehouse.net.

Marcus & Millichap Handles $835,000 Sale of Four-Unit Newport Apartments in Tampa, FL

Shawn Rupp

TAMPA, 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 Newport Apartments, a four-unit apartment building located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $835,000.

Shawn Rupp, associate, and Casey Babb, CCIM and vice president investments, 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, a private investor, was secured and represented by the two brokers.

 

Newport Apartments is a Class A apartment building located at 607 South Newport Avenue in the Class A+ submarket of Historic Hyde Park in South Tampa. Located just north of Swann Avenue and three blocks from Bayshore Boulevard and Hyde Park Village, Newport was built in 1979 and renovated 2016.

The building consists of four, two-bedroom/two-bathroom units with approximately 816 rentable square feet which have condo grade finishes and off-street parking.

“607 South Newport just completed top-to-bottom renovations including a new roof and condo grade interiors,” says Rupp. “The local buyer was attracted to this asset’s high rents and the need for very little capital improvements over the next decade.”

“The seller has sold multiple properties through our team, and was able to close at a record price on this unique asset in less than 30 days,” concluded Rupp.

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

Ari Ravi

Regional Manager

Tampa, FL

(813) 387-4700

5.2-Acre Manufactured Home Community in Lakeland, FL sold for $1.43 Million in Deal Brokered by Marcus & Millichap

Townsley Estates, Lakeland, FL

LAKELAND, 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 Townsley Estates, a 5.2-acre manufactured home community in Lakeland, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,425,000.

Dan Mulkey

Dan Mulkey, vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was secured and represented by

Mulkey.

Situated in Lakeland, Florida between Tampa and Orlando along Interstate 4, this small senior community offers its residents quiet living while placing them close to a major mall, hospitals, shopping and transportation. The manager’s home is a two-bedroom, stick build dwelling with a pool. 

Because of its close proximity to Tampa, Orlando and the crossroads of two of Florida’s most heavily traveled highways, Interstate 4 and U.S. Highway 27, Lakeland has become a high growth area boasting heavy commerce and housing development.

“After purchasing the community in 2008 the seller has done a very nice job of upgrading and filling the park,” says Mulkey. “As a Canadian citizen he intends to reinvest his sale proceeds into Canadian real estate.”

“The buyer, a California resident, is venturing into Florida real estate for the first time with intentions of investing in more manufactured housing in the immediate future,” concluded Mulkey.

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

Ari Ravi

Regional Manager, Tampa

(813) 387-4700

Marcus & Millichap Arranges $1 Million Sale of 20-Unit Iowa Court Apartments in Tampa, FL

Joshua Teplitzky

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 Iowa Court Apartments, a 20-unit apartment property located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,045,000.

Joshua Teplitzky, senior associate, Francesco P. Carriera and Michael P. Regan, both first 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 also secured and represented by Teplitzky, Carriera and Regan.

Iowa Court Apartments is a 20-unit multifamily community located at 3809 West Iowa Street in Tampa, Florida. 

The property consists of one, two-story residential building. The residential building is comprised of 20 one-bedroom/one-bathroom units with 625 rentable square feet. All units have individual heating and air-conditioning, and the building sits on an approximately 0.48 acre parcel of land.

“This property represents another one of our most recent transactions in South Tampa within close proximity to the Macdill Air Force Base. The total revenue in this immediate submarket has risen almost 20 percent year over year due to a large number of communities trading hands to foreign investors recently,” says Teplitzky.

“Iowa Court was a significant value-add opportunity and the buyer plans to make substantial immediate capital investment to the asset on both the interior and the exterior,” Teplitzky concluded.

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

Ari Ravi

Regional Manager, Tampa

(813) 387-4700