Thursday, October 27, 2016

Lee & Associates Completes Sale of Multi-Tenant Retail Shopping Center in Orange County, CA for $4.7 Million, 4.26% Cap Rate

Jon Selznick
SANTA ANA, CA -- Lee & Associates, a national commercial real estate brokerage firm, announced today that the company represented the buyer and seller in the sale of Grovemont Square, a 29,030-square-foot multi-tenant retail shopping center at 2428 North Grand Avenue in Santa Ana, Calif. The sale price was $4,730,000, representing a cap rate of 4.26 percent.

Lee & Associates’ Senior Vice President and Principal Jon Selznick and Associate Brant Dorman represented the seller, a private investor from Encino, Calif. 

The buyer, a private investor from Commerce, Calif., was also represented by Jon Selznick with Lee & Associates. Selznick and Dorman are based out of Lee & Associates Lake Forest, Calif. office.

Built in 1973, the multi-tenant retail building is situated on a 2.5-acre parcel just south of State Route 22, and less than two miles from both Chapman University and MainPlace Mall in Orange County. The retail center was 85% occupied at the time of the sale.

"This was a great result for both parties,” said Selznick. “The seller achieved an exit cap rate indicative of one of the strongest commercial real estate markets in recent history, and the buyer purchased an asset in a premium infill location on a major thoroughfare with potential for future upside.”

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

Anne Monaghan

Draper and Kramer’s Anna Javellana Named Manager of the Year at Minnesota Multi Housing Association’s MADACS Awards

Anna Javellana

 CHICAGO, IL (Oct. 27, 2016) – Draper and Kramer, Incorporated, a full-service national real estate firm, is proud to announce Anna Javellana, property manager at Southfork Townhomes in Lakeville, Minn., was named manager of the year by the Minnesota Multi Housing Association (MHA) at its 2016 Multi Housing Achievement in Design, Advertising and Community Support (MADACS) awards ceremony, which took place last month. 

Held annually, the MADACS awards recognize owners and associates who have made significant contributions to multi-housing marketing and management in Minnesota. The MADACS awards gala, the most prestigious event hosted by the MHA, celebrates positive, innovative, community- and industry-enhancing accomplishments. 

Deanne Logan
“Anna’s work at Southfork absolutely exemplifies the excellent level of customer service and detail-oriented approach Draper and Kramer’s residential management division is known for,” said Deanne Logan, regional property manager for Chicago-based Draper and Kramer. 

“While no one appreciates her leadership and dedication more than we do, we’re thrilled to see her hard work and accomplishments recognized by the Minnesota MHA and others in the industry.”

In her role as property manager of Southfork Townhomes, Javellana oversees 272 rental townhome units in a community that features a natural, wooded setting and extensive on-site amenities, including an oversized outdoor pool and a recently renovated clubhouse where the management team frequently hosts exclusive resident events.

Under her management, the community has experienced increases in average occupancy, lease renewal rates, SatisFacts resident survey scores and Apartment Ratings scores.

Javellana’s attention to detail and clear communication with residents was key in ensuring a number of major projects in the past year went smoothly, including complete landscape reconstruction, resurfacing of parking lots and driveways, extensive concrete replacement, and new roofs and insulation for all buildings.

Logan noted Javellana is also known for organizing the community’s annual holiday party, which features live reindeer and sleigh rides. “It’s one of the most popular events for our residents and they’re still talking about last year’s party almost a year later,” said Logan.

Southfork Townhomes
“It’s incredibly rewarding to be part of our residents’ lives and help make Southfork Townhomes feel like home for them every day,” said Javellana. “I’m honored to be acknowledged by my peers in an industry I find so personally satisfying, and I’m thankful for the opportunities I’ve found in this field with Draper and Kramer.”
A graduate of Wartburg College in Waverly, Iowa, Javellana joined Draper and Kramer in 2014 and has more than six years of experience in property management and leasing. Previously, she was named a top leasing consultant at the 2012 MADACS awards. Javellana is a member of the Institute of Real Estate Management (IREM), and holds IREM’s Accredited Residential Manager certification. 

One of the largest property management firms in Chicago, Draper and Kramer has a residential management portfolio of more than 10,000 rental units across Chicago, St. Louis, San Antonio and Minneapolis, as well as 25,000 condominium residences throughout Chicago.

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

Sarah Lyons,, (312) 267-4520
Kim Manning,, (312) 267-4527


Wendover Housing Partners Announces Kenwood Place, its New Affordable Senior Community in Tallahassee, FL

Jonathan L. Wolf
TALLAHASSEE, FL, Oct. 27, 2016 – Wendover Housing Partners, a privately held real estate development, investment and management company, today announces it is breaking ground on Kenwood Place, an affordable, senior apartment community in Tallahassee, FL.

 Construction on the 112-unit community, located at 420 Junco Court, began in spring 2016. With the first residents expected to move in during February 2017, Kenwood Place will provide financial relief to Leon County’s growing population of income restricted seniors ages 55 and up.

“When we decide to build a new senior housing community, the Wendover team looks at areas where the need is greatest. With its mild weather and tightknit community, Tallahassee is one of the country’s retirement hotspots,” said Jonathan L. Wolf, President and Founder of Wendover Housing Partners.

“The majority of Leon County’s senior population is healthy and independent with no mobility or self-care restrictions. Wendover hopes to provide these seniors with a safe and active community to call home at an affordable price.”

Priced below Tallahassee’s average rental rate of $814, each Kenwood Place unit features a full-size washer and dryer, a monitored emergency call system, and a fully equipped kitchen including a dishwasher, microwave, island and pantry. Designed with senior comfort and safety in mind, the open and spacious floor plans also provide ample storage space with walk-in and linen closets.

“Wendover believes that fostering and maintaining a sense of community is just as important as what our apartments look like, especially at our senior properties where residents have much more free time on their hands,” added Wolf.

“We provide plenty of indoor and outdoor areas for our residents to socialize and make new friends, as well as free events hosted by our staff. Kenwood Place residents will also be able to enjoy time for themselves in our fitness center, outdoor garden, swimming pool, computer room, community room and more.”

Kenwood Place has begun accepting rental applications for new residents. For information about Kenwood Place, call (850) 580-0151 or visit

For additional information about Wendover Housing Partners, visit

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

Melissa Landy
Uproar PR for Wendover Housing Partners

321.236.0102 ext. 233