Charles Wayne Properties Acquires Five-Building Industrial / Flex Property for $9.55 Million in Seminole County , FL

Monroe CommerCenter South, Sanford, FL

Daytona Beach, FL and Sanford , FL -- Charles Wayne Properties, Inc. recently completed the $9.55 Million purchase of Monroe CommerCenter South, a five-building industrial / flex campus on 8.49 acres located minutes from Interstate 4 in north Seminole County.

Ted Lightman

The five, single-story, industrial warehouse, showroom and flex buildings with a total of 116,500 rentable square feet, expands Charles Wayne Properties’ portfolio holdings in the Orlando market to more than 300,000 square feet. 

The five buildings are located at 627-655 Progress Way , 663-691 Progress Way , 703-739 Progress Way , 4141-4186 Incubator Court and 4140 Flex Court . 

Ted Lightman, Principal, said Monroe CommerCenter South is a natural addition to his firm’s other Orlando-area investments, which include Lake Mary’s Primera Court I & II Class A office buildings; Sanlando Commerce Center in Altamonte Springs; and the University Court office building near the University of Central Florida. 

Ron Rogg

“We saw an opportunity in Monroe CommerCenter South to leverage increased industrial demand fueled by increased new residential and retail development in the market, particularly in north Seminole and nearby DeBary in southwest Volusia County ,” said Lightman.  

CBRE’s Ron Rogg and Chip Wooten represented Monroe South RE LLC, the Miami-based seller.

“Selling Monroe CommerCenter South was a highly competitive process, which speaks to the strength of the industrial market and growing economy in central Florida ,” said Rogg, CBRE Executive Vice President.  “Charles Wayne was an ideal buyer, having a great track record in the market, and a reputation for closing on deals they target,” said Rogg.

Monroe CommerCenter South features office and warehouse space with grade-level rollup doors, appealing to a wide variety of tenants. The property is currently leased to a diverse and noteworthy tenant base in various industries, including services, suppliers, construction and technology, among others.

Chip Wooten

 Built in 2003, it was one of five similar “CommerCenters” developed by Small Bay Partners and NAI Realvest throughout Central Florida to meet the need by industrial users of 2,000 to 20,000 square feet. 

Charles Wayne Investment Management, LLC will handle asset and investment management functions for the property and its investors.  The NAI Realvest team headed by Principal Michael Heidrich will continue to handle leasing for the new ownership.  Charles Wayne and NAI Realvest are affiliated in this and certain other real estate ventures. 

Lightman added that Charles Wayne Properties continues to actively seek more expansion of its   commercial holdings in the Orlando market, which has led the country in job growth at 3.5% year-over-year.  Employment growth is projected to average 2.1% a year through 2023, according to Moody’s Analytics, almost 3 times faster than the national average projections of 0.8% annually.

Michael Heidrich

 CONTACTS:

Ted Lightman, Principal, Charles Wayne Properties, Inc.

386-506-0028 or 407-729-0813 tlightman@charleswayne.com

Michael Heidrich, Principal, NAI Realvest,

407-875-9989 Mheidrich@realvest.com

Patrick Mahoney, President, NAI Realvest,

407-949-0721 Pmahoney@realvest.com

Ron Rogg, CCIM, Executive Vice President, CBRE | Capital Markets,
407-404-5101 Ron.Rogg@cbre.com; 

Beth Payan, Larry Vershel Communications,

 407-644 4142 Beth@LarryVershel.com

 www.charleswayne.com. 

HFF announces $8.3 million sale of mission-critical industrial facility near Columbus, OH

Robin Stolberg

CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $8.3 million sale of a recently expanded, long-term leased, single-tenant 157,810-square-foot mission-critical industrial facility in the Columbus-area community of Delaware, Ohio.

The HFF team marketed the property for the seller, Agracel.  Gladstone Commercial Corporation purchased the asset. 

The building serves as the company headquarters and primary manufacturing facility for Acoust-A-Fiber, which manufactures acoustic, thermal management lightweight solutions for the automotive industry.

  Situated on 14.7 acres at 759 Pittsburgh Drive, the building is 28 miles from downtown Columbus and 13 miles from Interstate 270, which provides easy access to Interstates 70 and 71 and the entire Midwest.

Kurt Sarbaugh

The HFF investment advisory team representing the seller included senior directors Robin Stolberg and Kurt Sarbaugh along with director Nick Foster, senior director Ken Martin and analyst Sam Berry.

Agracel, Inc is an industrial development company headquartered in Effingham, Illinois with offices in Jackson, Mississippi; Nashville, Tennessee; Columbus, Ohio; and Greenville, South Carolina.

  Over the past 32 years, the company has focused exclusively on partnering with non-urban communities to facilitate job creation and to be a value-added development partner. 

Agracel provides an array of development services such as site selection, build-to-suit turnkey, build-to-suit leasebacks and acquisition leasebacks. 

Nick Foster

Gladstone Commercial Corporation is a publicly traded REIT (NASDAQ: GOOD) that invests in single tenant and anchored multi-tenant net leased industrial and office properties.

 Gladstone invests in properties located in primary and secondary growth markets that possess favorable economic growth trends, diversified industries, growing populations, and strong employment that are leased to credit tenants. 

Gladstone also may invest alongside developers in build-to-suit transactions as well as expansion projects on owned assets.  Gladstone has a track record of success, as exhibited by a history of strong distribution yields, consistent occupancy greater than 96 percent and 10+ years of paying continuous monthly cash distributions. 

More information about Gladstone Commercial can be found at www.gladstonecommercial.com.

CONTACTS:

ROBIN STOLBERG

HFF Senior Director

(312) 528-3650

rstolberg@hfflp.com

KURT SARBAUGH

HFF Senior Director

(312) 528-3650

ksarbaugh@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

RIVERGATE KW RESIDENTIAL Adds Major Talent to Support Aggressively Growing Portfolio

Marcie Williams

MIAMI, FL and CHARLOTTE, NC –- RIVERGATE KW RESIDENTIAL, a leading multifamily property management company, keeps recruiting top industry talent to strengthen its teams in Florida and the Carolinas.

Armando Vieira

As the company’s portfolio of units under management continues to expand rapidly, RKW has added two new regional managers and experienced marketing professionals in both regions.  

Michelle O'Brien

In Florida, Armando Vieira has joined RKW as Regional Manager. Michelle O’Brien is taking on the same role in the Carolinas.

 On the marketing side, Sarah Randolph is on board as Digital Marketing Manager, while Cynthia Blanco is the new Marketing Manager for Florida and Georgia.

Sarah Randolph

“These four individuals arrive with substantial experience and impeccable industry reputations,” said Marcie Williams, president of RIVERGATE KW RESIDENTIAL.

“We know they will add tremendous value to our operations and marketing teams. Our growth as a company is allowing us to strategically enhance our leadership with talented and dedicated professionals.”

RKW has enjoyed a banner year with numerous portfolio additions, including the Ashton Reserve at Northlake in Charlotte, new lease-up Arlo and the Eastover Ridge Apartments near Charlotte’s Uptown neighborhood and the brand-new CIRC Residences at Hollywood Circle in Hollywood, Fla.

Cynthia Blanco

The company now manages more than 13,000 multifamily units and was recognized in the Charlotte Business Journal’s annual list of the largest property management companies in the area for the first time in its four-year history.

Based in Miami, Vieira brings nearly two decades of multifamily experience to RKW. Before joining the company, he spent 14 years at Gables Residential – most recently serving as Regional Manager.

O’Brien is based in Charlotte and has a decade of industry experience. She previously held the Regional Director position at WRH Realty Services.

Randolph and Blanco bring a combined 15 years of marketing experience to RKW. Randolph is versed in all aspects of digital marketing, while Blanco specializes in high-impact marketing campaigns and communications strategy.

 For more information, visit www.rkwresidential.com.

 CONTACT:

Eric Kalis

Account Director, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagra

HFF announces sale of grocery-anchored retail center in Davenport, Iowa

Kimberly West Shopping Center, Davenport, IA

CHICAGO, IL – – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Kimberly West Shopping Center, a 113,713-square-foot shopping center anchored by Hy-Vee in the Quad City of Davenport, Iowa.

The HFF team marketed the property on behalf of the seller, Brixmor Property Group.  Equity Investment Group purchased the asset.

Amy Sands

Kimberly West Shopping Center is anchored by Hy-Vee, the No. 1 market-share grocer in Iowa.  The 87.8-percent-leased center is also home to an internet-resistant tenant lineup, including Great Clips, Tony’s Chicago Style Pizzeria, Rent-A-Center, Citizens Finance Co., Amana Medical Care and Lily Massage. 

Situated on 15.6 acres at 2142 West Kimberly Road in Davenport the hub of the metropolitan Quad Cities and located halfway between Chicago and Des Moines.

Clinton Mitchell

 Kimberly West Shopping Center is along the Kimberly Road Corridor, Davenport’s dominant retail corridor, and is visible to approximately 22,400 vehicles per day. 

 About 75,000 residents live within a three-mile radius of the center, which is 2.5 miles from Macerich NorthPark Mall, the third largest mall in Iowa.

The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell along with managing director Jules Sherwood, a licensed Iowa real estate broker.

About Brixmor Property Group

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers.  

Its 471 retail centers comprise approximately 80 million square feet of prime retail space in established trade areas.  

The company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers.  

Jules Sherwood

Equity Investment Group, Inc., with its affiliates, is a diversified, private investment and holding company with three decades of successfully investing in and managing commercial real estate and operating businesses. 

EIG was founded by its President and CEO, George Huber.  

Visit http://www.equityinvestmentgroup.com for more information.

CONTACTS:

AMY SANDS

IL Lic. #475.138622

HFF Senior Director

(312) 528-3650

asands@hfflp.com

CLINTON MITCHELL

HFF Senior Director

(312) 528-3650

cmitchell@hfflp.com

JULES SHERWOOD

IA Lic. #B64080000

HFF Managing Director

(303) 515-8000

jsherwood@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

HFF announces sale of suburban New York and Philadelphia medical office buildings totaling $34.4 million on behalf of a global investment advisor

Crozer-Keystone Medical Office and Surgery Center,
 2010 and 2050 West Chester Pike, Havertown, PA

Ben Appel

NEW YORK, NY and PHILADELPHIA, PA – Holliday Fenoglio Fowler, L.P. (HFF) announces the $34.4 million sale of two hospital and surgery center-anchored medical office buildings (MOBs) in New York and Philadelphia totaling 107,536 square feet on behalf of a global investment advisor. 

The properties are: Crozer-Keystone Medical Office and Surgery Center in Havertown, Pennsylvania; and Caremount Medical Imaging and Surgery Center in Mount Kisco, Westchester County, New York. 

The HFF team marketed the property on behalf of the seller in a process that yielded nine offers, and sold the assets to two separate buyers, Anchor Health Properties and Hammes Partners. 

Jose Cruz

The Crozer-Keystone Medical Office and Surgery Center comprises two buildings totaling 68,737 square feet located on a larger healthcare campus.  The 92.5-percent-leased facility is anchored by Crozer-Keystone Health System. 

 The 2.28-acre site is situated at 2010 and 2050 West Chester Pike in the suburban Philadelphia community of Havertown.  This campus has excellent visibility on Route 3, immediate access to 476, and is proximate to Interstates 76 and 95, the Pennsylvania Turnpike and U.S. Route 1, making the property highly accessible by patients throughout the region. 

The CareMount MOB is located at 34 South Bedford Road in Westchester County, New York.  The property is adjacent to and has affiliations with Northwell Health’s 174-bed Northern Westchester Hospital.  CareMount Medical occupies the entire 38,799-square-foot facility under a recently extended long-term lease.

Evan Kovac

The HFF investment advisory team representing the seller consisted of senior director Ben Appel, senior managing director Jose Cruz, managing director Evan Kovac and associate Matt DiCesare along with senior managing director Andrew Scandalios.

“CareMount is the largest private multi-specialty physician group in the state of New York,” Appel states.  

“Extremely well capitalized and highly profitable, CareMount is a stable anchor tenant,” Cruz added. “The property sits within CareMount’s largest geographic concentration of outpatient facilities, which help to drive high patient volumes at the MOB.”  

“The wide array of medical services offered at the Crozer-Keystone Medical Office and Surgery Center provide a strong and consistent back and forth referral pattern leading to high patient volume,” Appel said.

 “Services include general surgery, radiation oncology, anesthesiology, ENT, gynecology, pain management, orthodontics, orthopedics, plastic surgery, podiatry, urology, ophthalmology, lab and gastroenterology.” 

  

Anchor Health Properties (“Anchor”) is a national, full-service healthcare real estate development, management and acquisitions company focused exclusively on medical facilities.  

Anchor takes a strategic approach to navigating the extremely competitive healthcare marketplace, considering multiple angles, such as retail drivers, customer experience, branding and efficiency of the project.  

Matt DiCesare

The company develops and manages projects across the United States that respond to the new landscape of employed physicians, team-based care, the need to optimize assets and reduce duplication, and the integration of care and technology.  Healthcare today calls not only for new and more efficient ways of delivering outpatient services, but also a different kind of healthcare development and management company.  

For more information, please visit: www.anchorhealthproperties.com.

Hammes Partners is a private equity platform that invests on behalf of institutional investors, with an exclusive focus on the U.S. healthcare real estate market.  Hammes Partners leverages deep industry experience and relationships built over 20 years advising healthcare provider clients as well as developing and managing healthcare facilities.  

Andrew Scandalios

Since 2001, Hammes Partners and affiliates have utilized their position in the healthcare industry to source and deliver attractive investment opportunities throughout economic cycles.

CONTACTS:

BEN APPEL

PA Lic. #RS312185

HFF Senior Director

(412) 281-8714

bappel@hfflp.com

JOSE CRUZ

HFF Senior Managing Director

(973) 549-2000

jcruz@hfflp.com

ANDREW SCANDALIOS

NY Lic. #10331200140

HFF Senior Managing Director

(212) 245-2425

ascandalios@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

Burr Corners Plaza Taking Shape in Manchester, CT; Grand Opening of national home goods retailer marks newest enhancement to retail center

Burr Corners Plaza, Manchester, CT

MANCHESTER, CT – Recently patrons of the Burr Corners Plaza helped to celebrate the grand opening of new anchor tenant At Home’s first Connecticut retail store.

 Luring the Texas-based home goods retailer into their new 98,000 plus square-foot space also underscores the plaza ownership group’s commitment and steady progress towards enhancing the overall shopping experience at the reinvigorated plaza.

In Summer of 2015, Winstanley Enterprises, LLC. of Concord, MA and Surrey Equities, LLC. of New York, NY acquired the 302,066 square-foot plaza for $22 million. 

The experienced ownership group quickly began investing money to make major improvements to the exterior and interior sections of the plaza, with a commitment to attract vibrant new tenants to complement existing retailers at the shopping center.

Adam Winstanley

 Some of the notable enhancements that were made to improve the customers shopping experience include roof structure repair and  new roofing, new under canopy material and LED lighting, parking lot improvements including new asphalt, curbing, seal coating and striping, improved pylon and building signage, new and enhanced landscaping.

 In addition, new LED site lighting will be installed within the next few months..

“To have a national retailer choose Burr Corners as the destination for their first store in the state of Connecticut speaks volumes regarding the visibility of this parcel, the strong mix of local, regional and national tenants, and also the unwavering support of the community,” said Adam Winstanley, a principal of Winstanley Enterprises.

“We purchased this property with a commitment to revitalize it and to lure in new tenants that our patrons would be excited about. It has been exciting to see this vison become reality.”

At Home is a home décor superstore, offering more than 50,000 on-trend home products to fit any budget or style, from furniture, mirrors, rugs, art and housewares to tabletop, patio and seasonal décor.

At Home is headquartered in Plano, Texas, and currently operates 167 stores in 36 states.

They join other retailers at Burr Corners Plaza including Planet Fitness, Pilgrim Furniture, Halal Meat, Priya, Eagle Cleaners, Jenny Craig, Dover Saddlery, Kobe Grill, David’s Bridal, Chuck E Cheese, Tile America, The Pool Factory, Diva Threading, Joe’s Shoe Service, Studio 3D Nails, Snip It’s, CNG, Great Expectations, H&R Block, Donnelly’s, UPS, Subway, US Coast Guard, Golden Dragon, Dunkin’Donuts, Bridgestone/Firestone, and McDonalds.  

There also is additional retail spaces and a building pad available and being marketed at the property.

Edward Silvera

“When we acquired this property we knew that it had strong existing tenants, but that with improvements made could perform at a higher level.” said Edward Silvera, president and principal of Surrey Equities. “We now have a strong mix of dynamic and well respected tenants, and anticipate that trend to continue to develop.”

Burr Corners Plaza originally opened in 1989 and boasts 302,066 square feet of open-concept retail space located at the corner of Buckland Street and Tolland Turnpike. The property offers tenants strong visibility from I-84.   

In addition to Burr Corners Plaza, Winstanley Enterprises recently purchased the two million square foot J.C Penny warehouse facility in Manchester, CT.

For more information, please contact:

Matt Watkins                                   

Watkins Strategies                         

617-571-4582                                

Mwatkins@watkinsstrategies.com            

HFF announces $36.5 million refinancing of Park Plaza I and II in Rockville, MD

Park Plaza 1 and 11, Rockville, MD

WASHINGTON, DC. –– Holliday Fenoglio Fowler, L.P. (HFF) announces a $36.5 million refinancing for Park Plaza I and II, two Class A office buildings totaling 264,000 square feet in Rockville, Maryland.

Daniel McIntyre

 The HFF team worked on behalf of the borrower, Marcus Partners, to arrange a floating-rate loan through EagleBank. 

 Loan proceeds were used to refinance the original acquisition loan and provide funds for the borrower to continue implementing its successful business plan.

 Park Plaza I and II is located at 2099 and 2101 Gaither Road proximate to Interstate 270 and King Farm in North Rockville. 

 The property was most recently renovated to include a high-end café, fitness facility, yoga studio, conference center, new courtyard space, improved building systems, and refreshed lobbies. 

 The HFF debt placement team representing the borrower included senior director Daniel McIntyre and director Jay Graham.

 Marcus Partners is a value-oriented real estate investment, management and development firm based in Boston, Massachusetts with additional offices in Metro New York and Metro Washington D.C.

Jay Graham

The firm invests in real estate and related assets, pursuing a mix of strategic and opportunistic investment strategies across office, medical office, research and development, multifamily, warehouse, and industrial properties.

Marcus Partners has built its reputation as a real estate investment firm grounded by a deep belief in value investing and is experienced in the complexities of real estate and capital markets.

It currently owns and / or manages a diversified portfolio that includes approximately 7 million square feet along the East Coast.  For more information please visit marcuspartners.com.

CONTACTS:

DAN MCINTYRE

HFF Senior Director

(202) 533-2500

dmcintyre@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com