Friday, December 22, 2017

Berger Commercial Realty Leases 28,000 Square-Feet in Fort Lauderdale, FL

Keith Graves
FORT LAUDERDALE, FL – Brokers at Berger Commercial Realty/CORFAC International recently completed 28,687 square-feet in lease transactions on behalf of landlords in Fort Lauderdale.

Senior Vice President Keith Graves represented 900 S.E. 3rd Ave., LLC in renewing a lease for 21,533 square-feet of office space to YMCA South Florida, Inc. at the Bank United Building.

Located at 900 S.E. 3rd Ave., the 46,695-square-foot office building features a contemporary design and is situated in the heart of downtown Fort Lauderdale’s central business district. The building offers proximity to I-95, the Fort Lauderdale Tri-Rail station and Fort Lauderdale/Hollywood International Airport.

Prospect Park I
Along with Senior Sales Associate Jonathan Thiel, Graves also represented AKF3 SF Light Industrial, LLC in leasing 3,754 square-feet of industrial space to Willcott Engineering, Inc. at Prospect Park I, located at 5251 N.W. 33rd Ave. Prospect Park I is a multi-building business park located within Fort Lauderdale Commerce Center. Strategically situated between I-95 and Florida’s Turnpike at Commercial Boulevard, the 70,874-square-foot office complex offers flexible floorplans, round-the-clock access and proximity to Fort Lauderdale Executive Airport, the Cypress Creek Tri-Rail station and the Pompano Beach Tri-Rail Station.

Jonathan Thiel
2601 E. Oakland Park Blvd.
Along with Sales Associate John Forman, Graves also represented 2601 ML Fund, LLC in leasing 3,400 square-feet of office space to Outer Reef Yachts at 2601 E. Oakland Park Blvd. The space is located within a recently renovated six-story, 59,878-square-foot office building that features class-A finishes, ocean views, hurricane impact windows, ample parking and onsite property management.

For more information about Berger Commercial Realty’s leasing services, call 954-358-0900.

For more information on this transaction, please contact:

Pierson Grant Public Relations
Lexi Robinson, ext. 255,

Marielle Sologuren, ext. 226,

PM Hotel Group Assumes Management of DoubleTree by Hilton Hotel Wilmington in Delaware

DoubleTree by Hilton Hotel Wilmington, DE

WASHINGTON, DC —Officials of PM Hotel Group, a leading, national hotel management company, today announced the company has signed a management contract to operate the 244-room DoubleTree by Hilton Hotel Wilmington in Del.

 The Buccini/Pollin Group (BPG), a privately held, full-service real estate acquisition, development and management company, acquired the hotel in October of this year.

Joseph Bojanowski
“With the inclusion of the DoubleTree by Hilton Hotel Wilmington, we add our sixth hotel in Delaware to our ever-expanding third-party hotel management portfolio,” said Joseph Bojanowski, president of PM Hotel Group.  “We continue to seek full- and limited-service properties in markets with strong demand generators and barriers to new entry.”

Near downtown Wilmington and adjacent to Concord Mall, the hotel is proximate to the popular historical site, Winterthur, the corporate offices of MetLife and Dupont and a variety of entertainment options ranging from restaurants to movie theaters. 

 The hotel features more than 11,000 sq. ft. of flexible meeting space capable of accommodating up to 360 guests, heated indoor pool, fitness center and dining options at Palettes Restaurant & Lounge. 

 Guest rooms offer 42-inch flat-screen televisions, oversized work desks and ergonomic chairs, refrigerators and complimentary Wi-Fi Internet connectivity.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553

HFF announces $28 Million sale of Class A office building in Bergen County, NJ

Jose Cruz
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $28 million sale of 300 Tice Boulevard, a Class A office property totaling approximately 240,000 square feet in Woodcliff Lake, New Jersey.

The HFF team represented the seller, Mack-Cali Realty Corporation, and procured the buyer, BHN Associates, Inc., in conjunction with Hudson Equities Inc.

300 Tice Boulevard is situated within Bergen County and benefits from easy access to several of the main thoroughfares in the state, including the Garden State Parkway, Routes 4 and 17, and Interstate 80, which provide access to northern and central New Jersey as well as Manhattan about 20-25 miles southeast. 

The three-story property is 65 percent leased, including notable tenants such as KPMG and Volkswagen.  Constructed in 1991 on 20 acres, the building features an attractive granite facade, four atriums including an impressive lobby, a full-service cafeteria with dining area, fitness center, walking path and covered parking.

The HFF investment advisory team representing the seller included senior managing director Jose Cruz, managing director Kevin O’Hearn, senior directors Michael Oliver and Stephen Simonelli and director Marc Duval.

“300 Tice is the latest office building to trade out of the Mack-Cali portfolio.  We had great interest in the asset given the quality and upside in the deal,” stated Cruz.

HFF and Holliday GP Corp. ("HFF") are licensed New Jersey real estate brokers.

For more information about this release contact:

Kristen Murphy
Director, Public Relations
T: 617-848-1572
 |  M: 617-543-4873

NAI Realvest Negotiates $1.2 Million+ Sale of Free-Standing Office Building on SR 434 in Altamonte Springs, FL

Kim Manson

Jeff Tanner
ORLANDO, FL - NAI Realvest recently closed on the sale of a free-standing office building located at 860 N. SR 434 in Altamonte Springs for $1.21 million.

Jeff Tanner, senior vice president of investment sales and Kim Manson, director of retail and investment sales at NAI Realvest brokered the transaction representing the local Seller, AMLS, LLC.

Buyer Christensen Financial, Inc. purchased the 10,460 square foot office building on a 1.55 acre tract.  They will be occupying the majority of the building to operate its mortgage lending business.

For more information about this release contact:

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Passco Companies Acquires 320-Unit Luxury Multifamily Community in Savannah, GA

Mariner Grove Multifamily Property, Savannah, GA

Savannah, GA – Passco Companies, a privately-held California-based real estate company that specializes in the investment, acquisition, development and management of commercial properties throughout the U.S., has acquired Mariner Grove, a 320-unit, Class A multifamily property in Savannah, Georgia.

“This asset is the only fully-amenitized Class A multifamily property in the Savannah market, which is experiencing exceptional population and job growth,” says Collin Gillis, Passco’s Vice President of Acquisitions, Southeast.  “The city’s population has increased by 30 percent since 2000, and is projected to grow another 30 percent by 2030, while employment is expected to grow by more than 20 percent through 2021.”

Mariner Grove is located just east of Downtown Savannah, which is undergoing a significant revitalization and Eastward expansion, including major projects such as Presidents Square, a 450,000 square-feet mixed-use development, the $800 million Savannah River Landing project, and a 645-room hotel.

Collin Gillis
“The Savannah market’s continued growth makes this investment well-aligned with our ongoing strategy to acquire core multifamily assets with long-term growth potential throughout the U.S.,” says Gillis.

Downtown Savannah’s eastward expansion will place the Mariner Grove property even closer to its heart, and the market’s economic prosperity will continue to attract professionals from around the nation, subsequently driving and sustaining demand for luxury multifamily product.

“Mariner Grove is uniquely positioned to offer something not otherwise available in the Central Savannah marketplace,” Gillis explains. “There are only three other Class A multifamily properties in the Downtown area, and only Mariner Grove features in-demand amenities such as free parking, large common areas, and a pool.”

The three-story apartment complex, which was designed around a 300-year-old live oak grove, also features competitive amenities including a saltwater pool with a sun deck and cabanas, a fitness complex with a yoga studio, and a pet park. Units feature modern designs with two-tone cabinetry, glass tile backsplash, and stainless steel appliances.

“The high-level amenities found in this property appeal to today’s renters, and offer an unmatched lifestyle in close proximity to local services and employment,” notes Gillis.

Savannah is home to the headquarters of Gulfstream Aerospace Corporation, the city’s largest employer. The region’s diverse economy is also fueled by education, tourism and an active port, Gillis notes.

Robert Stickel
 “The Port of Savannah is the fourth largest in the nation, and ranks number one in foreign trade per capita,” explains Gillis. 

“After the widening project that doubled the capacity of the Panama Canal last year, the Port of Savannah is now underway on its own expansion project to accommodate larger ships passing through the canal. 

"Ultimately, these projects will result in increased capabilities and activity at the port, and ongoing economic health for the region.”

Robert Stickel, Executive Managing Director of Cushman & Wakefield, represented Brand Properties as the seller in this transaction with Director Alex Brown.

“The sale of Mariner Grove is a landmark transaction for Savannah, Georgia, which is experiencing tremendous job growth,” says Stickel. “This closing further confirms Savannah is attractive to sophisticated capital.

“We saw interest from international funds and institutional investors as well as both, public and private REITs. The developers of Mariner Grove did a phenomenal job in designing and developing this exceptional property.

“The combination of the historic oak trees with top-of-the-market finishes and amenities resulted in a compelling community for both residents and investors. Passco was an excellent choice as the Buyer and completed the transaction as expected.”

Mariner Grove, which was completed in October 2016, is located at 2010 East President Street in Savannah, Georgia.

Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Companies.

For more information on this news release, please, contact:

Elisabeth Manville / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

 or follow @CushWake on Twitter.

Pollack Shores Completes Land Purchase for New Luxury Apartment Community in Lutz, FL

Steven Shores
 ATLANTA, GA (Dec. 22, 2017) – Multifamily developer Pollack Shores announced today that it has closed on the land purchase for its latest luxury apartment community in Lutz, Florida, one of metro Tampa’s fastest-growing suburbs.

Design plans were recently finalized for the development located off Suncoast Parkway, which will be known as The Fountains at Northpointe. The project is within walking distance of one of Lutz’s popular mixed-use retail centers, and is expected to break ground in January 2018.

The 239,000-square-foot community will include 252 units and provide residents with a spacious outdoor living area, along with convenient access to several nearby shopping and dining destinations.

The community features a variety of floorplans for one, two and three-bedroom residences ranging from 700 to more than 1,300 square feet. Each home will feature granite countertops, shaker-style cabinets, stainless steel appliances and luxury vinyl plank flooring. The project is slated to open in May 2019.

Property amenities will include a resort-style pool and courtyard, a large water feature with a pedestrian bridge and a luxurious clubroom and seating area. The community is also just one mile away from the popular Suncoast Trail, a 42-mile biking greenway that covers Hernando, Hillsboro and Pasco counties.

“The Fountains at Northpointe furthers our strategy to develop highly amenitized apartments in strong suburban locations that have not seen new development in recent years,” said Steven Shores, President and Co-Founder of Pollack Shores. “Pollack Shores will continue to seek opportunities that strengthen our portfolio in the Sunbelt and build long-term value for stakeholders.”

The project is located less than half a mile away from Northpointe Village, a 68,000-square-foot development which features a variety of retailers, restaurants and specialty shops anchored by Marriot’s Residence Inn.

Nearby restaurants include Carrabba’s Grill, Brick City Eatery and International Beer Garden. The city of Tampa is a less than half hour drive away for residents who commute or enjoy the dynamic nightlife downtown.

NXT Capital is partnering with Pollack Shores on the project. Matrix Residential, a subsidiary of Pollack Shores, will add the development to its growing and diverse portfolio of award-winning properties the company manages across the Sunbelt.

Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa Bay, South Florida, Raleigh, Charlotte, Dallas, Nashville and Richmond.  

 For more information on this news release, please, contact:

Liz Maddux • The Wilbert Group
Please note our new address:
1718 Peachtree St., Suite 1048 • Atlanta, Ga. 30309
M: 478-972-3210

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Liana Moran
The Wilbert Group
404-748-1367 (O) 770-905-9915 (C)