Hanley Investment Group Completes Three 7-Eleven Deals for $9.13 Million, Marking Jeremy McChesney’s 23rd 7-Eleven Transaction in 2.5 Years

  

Jeremy McChesney

CORONA DEL MAR, CA - Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced Executive Vice President Jeremy McChesney has completed the sale of three 7-Eleven properties in separate transactions for a combined value of $9,130,000.

The properties are located in Los Angeles, San Diego and Bakersfield, California. One of the transactions had a record-low cap rate for 2017. McChesney has now completed the sale of 23 7-Eleven properties in the last 2.5 years, the most 7-Elevens sold by one individual in the U.S. during this same period.

“These sales highlight the continued demand by investors for high quality, investment grade net-lease and two-tenant properties and investors’ willingness to look in major metros to find them,” said McChesney. 7‑Eleven, Inc. is the world’s largest chain in the convenience retailing industry. Based in Irving, Texas, 7‑Eleven® operates, franchises and/or licenses more than 63,000 stores in 18 countries, including 10,900 in North America.

“All three 7-Eleven properties had attractive fundamentals including absolute triple-net leases and hard corner locations with good traffic counts, demographics, proximity and ease of access to major thoroughfares,” said McChesney.

For more information on this press release, please contact:

Jeremy McChesney

 Executive Vice President

Hanley Investment Group

949.585.7671  

Happy Home Communities Acquires a 201-Space Mobile Home Park Portfolio for $6.9 Million in Foley, AL

 

Ellie Davis

 Los Angeles, CA - Happy Home Communities (HHC), the mobile home park and RV park investment arm of Gelt Inc., a Los Angeles-based multifamily real estate investment and asset management firm, has acquired a 201-space mobile home park portfolio in Foley, AL, a city in Baldwin County. HHC acquired the two-property 90 percent occupied portfolio from a private seller for $6.9 million.

"This portfolio offered HHC the opportunity to own and manage two well-maintained communities that are close to local beaches, major tourist destinations and employment centers," said Ellie Davis, director of acquisitions and asset management for Happy Homes Communities.

"Additionally, Baldwin County is one of the fastest-growing regions in the nation. We see this growth as a factor for long-term appreciation and plan to add additional immediate value by infilling vacant sites as well as making enhancements to the properties over the next couple of years."

Davis added that HHC is seeking to acquire additional mobile home park assets in the greater Gulf area.

Foley is located in Baldwin County, Alabama, which is experiencing a rapidly growing population and offers 60 miles of beach frontage along the Gulf of Mexico.

For more information on this press release, please contact:

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

WoodSpring Hotels Grows Denver-Area Presence with WoodSpring Suites Denver Centennial

Ron Burgett

  Charlotte, NC - WoodSpring Hotels, the nation’s fastest growing extended-stay hotel company, announced the grand opening of WoodSpring Suites Denver Centennial.

 The hotel, owned by Pure Strike Development, LP, and WS Centennial LLC, will be operated by Overland Park, Kansas-based Hotel Management & Consulting, LLC (HMC). The hotel is located at 13253 E. Briarwood Avenue, Centennial, Colo., 80112-6853.

“We continue to seek strategic and ambitious partners such as Pure Strike Development as we continuously grow the WoodSpring brand nationwide,” said Ron Burgett, executive vice president of franchise development and operations for WoodSpring Hotels LLC.

“The greater Denver area is experiencing some of the highest demand the city has seen in years from both business and leisure travelers, and we are ready to serve these guests with our clean, comfortable, well-appointed rooms and simple, straight-forward business model.”  

For more information on this press release, please contact:

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com

www.dalygray.com

First and Fresh Grocery Store to Open at Westside Plaza in West Orlando, FL

                                                                                    

Jackie Pace

Orlando, FL  – NAI Realvest Charles Wayne Commercial recently negotiated a new long-term lease agreement for First and Fresh, a grocer who will occupy 1,560 square feet at Westside Plaza located at 6218 W. Colonial Drive in West Orlando.

Retail Specialist Jackie Pace represented the landlord at Westside Plaza, the 6th Florida location for Tampa-based First and Fresh providing nutritious food products to WIC (women, infants and children) customers who participate in the federally funded nutrition program. 

Dave Van Wormer of Van Wormer Realty represented the new tenant who will join Pep Boys, Career Source Central Florida and Florida Dept. of Children and Families among others at Westside Plaza which is currently  96 percent leased.

For more information on this press release, please contact:

Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

  

HFF announces $205M financing of The District Burlington, the Inner suburbs most walkable and amenitized mixed-use environment

 

Fred Wittmann

  BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $205 million financing of The District Burlington, a first-class mixed-use park comprising over one million square feet of office and retail buildings in Burlington, Massachusetts.

The HFF team worked on behalf of the borrower, affiliates of Charles River Realty Investors, National Development and AEW Capital Management, to secure the seven-year, fixed-rate permanent loan through a major institutional life insurance company.

The District Burlington is located adjacent to Route 128/Interstate 95 and the Burlington Mall, only 15 miles northwest of Boston.  

The property was repositioned and rebranded through the complete redesign of the park infrastructure and the development of a 30,000-square-foot retail cluster anchored by Island Creek Oyster Bar, Tuscan Kitchen and Market, and TD Bank.

Improvements to the park also include the addition of a 350-space parking garage, the repositioning and expansion of Building 700, and the creation of a first-rate walkable amenity package including a new Residence Inn by Marriott, an 8,000-square-foot fitness center, and OMMMSpace that houses yoga and meditation classes. 

Robyn King

Enhanced connectivity is provided through a Zagster Bike Share Program, walking trails and a private shuttle to and from the Alewife MBTA station in Cambridge.

 The District Burlington is 85 percent leased to a diversified roster of more than 40 regional, national and global tenants, including BAE Systems, Black Duck Software, Charles River Development (no affiliation with Charles River Realty Investors) and Decision Resources.

Greg LaBine

The HFF debt placement team representing the borrower included senior managing director Fred Wittmann, managing director Greg LaBine and senior associate Robyn King.

“The borrower did a fantastic job repositioning the asset to become a best-in-class mixed-use park with the best amenity package available in the market,” said LaBine.  “That led to increased tenant demand and higher rents, which when coupled with top institutional sponsorship within the borrower group, made this a compelling opportunity for the lender.”

Kristen M. Murphy

Director, Public Relations

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

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