HFF announces $67 Million financing for 4-building industrial portfolio in Charlotte, Memphis and Orlando

Rebecca VanReken

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $67 million post-acquisition financing for a fully leased, four-building, Class A industrial portfolio totaling two million square feet in the Charlotte, North Carolina; Memphis, Tennessee; and Orlando, Florida, MSAs.

Kristian Lichtenfels

The HFF team worked on behalf of PAULS Corp. and the borrower, Dream Industrial US Holdings Inc., to place the nine-year, 3.96-percent, fixed-rate loan with an insurance company.  The borrower purchased the assets in December 2017 and January 2018.

The portfolio comprises four Class A bulk warehouse buildings, two of which are single-tenant and two are multi-tenant.  The portfolio is 100 percent leased to a total of six tenants and features clear heights ranging from 25 to 32 feet, a total of 247 dock-high doors, 18 drive-in doors and approximately four percent office finish. 

Eric Tupler

 Two cross-dock facilities in Memphis are the 885,000-square-foot Delta Point at 5605 Holmescrest Lane and the 500,000-square-foot Shelby V at 4770 Southpoint Drive. The Charlotte-area property is a 471,744-square-foot cross-dock facility at 860 Marine Drive in Rock Hill. 

American Way is a front-and-side facility containing 193,133 square feet at 7730 American Way in the Orlando-area community of Groveland.  All four buildings have easy access to main thoroughfares and local airports.

The HFF debt placement team representing the borrower included director Kristian Lichtenfels, senior managing director Eric Tupler, senior director Cory Fowler and managing director Rebecca VanReken.

Cory Fowler

“HFF is thrilled to have helped the great team at Dream Industrial US Holdings Inc. in executing their strategy to expand ownership of industrial assets in the U.S. by securing a great long-term loan with a strong portfolio lender,” Lichtenfels said.

For more information, please contact: 

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

www.dreamindustrialreit.ca

http://www.thepaulscorporation.com 

Native Realty Completes Record Transaction in Fort Lauderdale’s Victoria Park Neighborhood

Sara Dorman

FORT LAUDERDALE, FL –– Native Realty, the pioneering Fort Lauderdale commercial real estate firm led by Jaime Sturgis, has closed the record-breaking sale of an Airbnb rental property in the city’s popular Victoria Park neighborhood.

The firm’s Sara Dorfman, a multifamily specialist, was the exclusive listing agent for the 4-unit building located at 808-812 NE 16th Terrace. Grandeview LLC sold the property to TransAmerica Group, Inc. The transaction closed on May 23.

Jaime Sturgis

At $1.65 million, the sale price is Victoria Park’s highest since at least 2006, according to Multiple Listing Service data. The $412,500 price per door – or unit – is the most expensive in the history of the neighborhood.

The 4,514-square-foot building includes a single-family residence plus in-law suite, a triplex, swimming pool and 10 off-street parking spaces.

Constructed in 1954, the building recently underwent extensive interior renovations to all of the units. The seller operated the property as an Airbnb rental, and the buyer plans to continue doing so.

“I want to congratulate Sara on setting new standards for a Victoria Park neighborhood that has a rich history as one of Fort Lauderdale’s hidden gems,” Sturgis said. “She has been a tremendous addition to our firm. This transaction is another example of how Native Realty is at the forefront of urban core neighborhoods across all real estate sectors.”

  

 For more information, please call:

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 | Instagram

www.nativere.com. 

Structured Development Retains CBRE to Market Retail Space in Planned 260,000 SF Mixed-Use Development in North Chicago, IL

Rendering of Planned Sheridan Crossing Mixed-Use Development, North Chicago, IL

CHICAGO, IL — A joint venture of Chicago-based Structured Development and Carly Partners LLC announced it has retained CBRE Group Inc., the world's largest commercial real estate services and investment firm, to market more than 76,000 square feet of retail space at Sheridan Crossing, a planned 37-acre mixed-use development across from the Naval Station Great Lakes in North Chicago, Ill.

Mary Bresnahan

CBRE Vice President Mary Bresnahan and Senior Vice President Kim McGuire will lead marketing efforts for the project at the corner of Sheridan Road and Martin Luther King Jr. Drive.

The multi-phase development, comprising a total of more than 260,000 square feet, will be anchored by a 107-room limited-service hotel and a 10-screen movie theater. 

In addition, an adjacent property will be the future home of the National Museum of the American Sailor, which is expected to host more than 450,000 visitors annually when completed. 

“We are collaborating with city and state officials and other local stakeholders to make Sheridan Crossing a marquee mixed-use development – one that will have an extremely positive economic impact in North Chicago,” said Jeff Berta, senior director of real estate development at Structured Development.

Kim McGuire

 “The national retailers that already have expressed interest would offer the community experiences currently unavailable in the immediate area. In retaining CBRE, we’re confident we will be able to build on this momentum and move one step closer to realizing our vision for this first-of-its-kind project.”

Structured Development is exploring a variety of uses that, together, will establish Sheridan Crossing as a vibrant commercial district. These include a bowling alley, microbrewery, several restaurants, a full-service grocer, pharmacy and medical offices. The developer hopes to break ground sometime this year. 

Jeff Berta

“This project will serve as a catalyst for investment in North Chicago, serving full-time residents and the thousands of recruits enrolled at the adjacent naval station, whose frequent graduation ceremonies draw in additional visitors,” said Bresnahan. 

“Sheridan Crossing presents a rare opportunity for retailers to plant their flag in an underserved market with high growth potential.”

In addition to offering proximity to Naval Station Great Lakes, Sheridan Crossing is minutes from the corporate headquarters of both Abbott Laboratories and AbbVie. 

Also nearby are multiple educational and medical institutions, including Rosalind Franklin University, the Captain James A. Lovell Federal Health Care Center and the new Northwestern Medicine Lake Forest Hospital campus.

The Chicago and Irvine, Calif., offices of KTGY Architecture + Planning are serving as architect on the planned development.

For more information, please contact:

 Susan Swartz, sswartz@taylorjohnson.com, (312) 267-4519

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

www.strdev.com.

Miramar Park of Commerce Announces 128,000 SF in Lease Transactions in Miramar, FL

Miramar Park of Commerce, Miramar, FL

MIRAMAR, FL – Lease transactions totaling 128,244 sq. ft. of space were recently completed at the Miramar Park of Commerce, the largest locally owned and managed business park in South Florida.

Lauren Pace

 Maridee Bell and Lauren Pace of Sunbeam Properties & Development represented the Park in all of the transactions unless otherwise noted.

 New Leases

Beghelli, Inc. leased 18,490 sq. ft. of space in MPC-7B at 3800 Executive Way. Represented by Pat Montalbano of Montalbano Realty and Carlos Velasquez of Vivo Real Estate, Beghelli designs, manufactures and distributes innovative code-compliant emergency lighting products and luminaires.

Maridee Bell

 Represented by JR Steinbauer of Steinbauer Associates, Peloton Interactive, Inc. leased 11,640 sq. ft. of space in building MPC-11C, located at 2721 N. Commerce Parkway. The space will serve as a warehouse for the assembly and distribution of exercise equipment. The Park was represented by  Carlos Velasquez of Vivo Real Estate in the transaction.

Liran Hassin

 Represented by Mort Federoff of Comreal Miami, Convergint Technologies leased 9,003 sq. ft. in MPC-9A at 3102 Commerce Parkway. Convergint Technologies is a global, industry-leading systems integrator that designs, installs, and services electronic security, fire alarm, and life safety systems. In the transaction, the Park was represented by Ryan Goggins of Colliers International.

 Wharton-Smith, Inc., represented by Liran Hassin of Wharton Realty Group, leased 6,061 sq. ft. of space at 10350 USA Today Way. The space accommodates offices and a warehouse for Wharton-Smith, one of Central Florida’s largest general contractor and construction management firms. The Park was represented by Ryan Goggins and Jonathan Kingsley of Colliers International in the transaction.

Ryan Goggins

 Micro Security Solutions, Inc. leased 6,025 sq. ft. of space in MPC-14A at 3070 North Commerce Parkway. Micro Security Solutions is disciplined in the design, build and support of enterprise-level electronic security systems and technologies. The Park was represented by Ryan Goggins of Colliers International in the transaction.

 Represented by Daniel Pou of Horizon Properties, Florida Caribbean Cruise Association (FCCA) leased 5,996 sq. ft. of space in MPC-2B at 10390 USA Today Way. FCCA is a not-for-profit trade organization comprised of 18 member cruise lines operating nearly 200 vessels in Floridian, Caribbean and Latin American waters. In the transaction, the Park was represented by Ryan Goggins of Colliers International.

Harry Tangalakis

 Lease Renewals

Represented by Ryan Nunes of CBRE, iQor renewed its lease for 26,546 sq. ft. of space at 2989 N. Commerce Parkway. iQor is a global managed services provider that partners with many of the world’s best-known brands to deliver product and customer support solutions that span the consumer value chain.

 Office Depot, represented by Harry Tangalakis of CBRE, renewed its lease for 24,057 sq. ft. of space at 10004 Premier Parkway. The space serves as a warehouse and distribution center for office supplies and equipment.

Ryan Nunes

 North American operating subsidiary of dormakaba Holding AG, dormakaba Workforce Solutions, LLC, renewed its lease for 8,893 sq. ft. at 3015 N. Commerce Parkway. dormakaba Workforce Solutions provides technology and services for automating time and attendance, labor data collection, employee self-service and regulatory compliance.

 Hema Diagnostic Systems, LLC d/b/a NuGenerex Diagnostics renewed its lease for 5,626 sq. ft. of space at 10102 USA Today Way. Headquartered at the Park, NuGenerex Diagnostics is a subsidiary of Generex Biotechnology. The space serves as an office and lab for the development, manufacture, assembly and distribution of rapid diagnostic tests.

Daniel Pou

 About Miramar Park of Commerce

Since breaking ground in 1984, Sunbeam has developed the Miramar Park of Commerce into the largest locally owned and managed Business Park in South Florida, with over five million square feet of office/service, laboratory, pharmacy, light manufacturing and distribution space.

The world class Park is home to more than 10,000 employees from more than 180 national and international companies including GE, Siemens, Tommy Hilfiger, Neiman Marcus, Humana, Southern Glazer’s Wine and Spirits, Quest Diagnostics, Toyota, Rolls Royce Commercial Marine, Stanley Black & Decker, Pepperidge Farm and Nissan. 

Jonathan Kingsley

Flex/office space, corporate build-to-suits as well as a limited number of second-generation spaces are available in the Park. 

For more information, contact Lauren Pace (lpace@wsvn.com) or Maridee Bell (mbell@wsvn.com) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.

For more information, please contact:

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

HFF expands its hotel investment advisory team with the addition of Chris Dewey in its Atlanta office

Chris Dewey

 ATLANTA, GA –– HFF announced it has hired Chris Dewey as a managing director in its Atlanta office.  Mr. Dewey will focus on hotel investment advisory transactions in the southeast and will be a member of HFF’s national hotel investment advisory team led by Daniel C. Peek.

Daniel C. Peek

Mr. Dewey has more than 18 years of experience in commercial real estate and was most recently an executive vice president in JLL’s Hotels and Hospitality group focused on individual and portfolio hotel sales in the southeast region of the U.S.  

During the course of his career, he has closed in excess of $1 billion of individual and portfolio hotel transactions across nearly all brands and asset types.  Mr. Dewey holds a Bachelor of Arts degree from Wofford College.  

“Chris will be a great addition to our national hotel investment advisory team given his vast knowledge and experience within the hotel space and his deep relationships within the industry,” said Daniel C. Peek, senior managing director and head of HFF’s hotel investment advisory team. 

Richard Reid

“We are delighted to have a dedicated hotel specialist in HFF’s Atlanta office,” said Richard Reid, senior managing director and co-head of HFF’s Atlanta office.  “As with every office, it is our ultimate goal to build out all of our platform and product offerings.”

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

 HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.comor follow HFF on Twitter @HFF.

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

Hanley Investment Group Lists Rare 12.60-Acre Mixed-Use Shopping Center Development Opportunity in the Heart of Santa Clarita, CA

Former Site of  Kmart-Anchored Shopping Center,
23126-23170 Valencia Boulevard, Santa Clarita, CA

SANTA CLARITA, CA -- Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm has been awarded the listing of a 12.60-acre former Kmart-anchored shopping center property located in the heart of Santa Clarita, California.

The property, owned by a private family, is situated within the MXC Mixed-Use zoning corridor of Santa Clarita, which allows up to 30.0 units per acre for residential with ground-floor commercial (1.0 max for floor area ratio (FAR) commercial), according to Hanley Investment Group.

Carlos Lopez

 Executive Vice President Carlos Lopez and Vice President Lee Csenar are the exclusive listing agents and are marketing the property for sale unpriced.

“The offering provides a buyer with the rare opportunity to purchase a development site of this size within the core of Santa Clarita,” said Lopez. “Due to the short-term nature of the leases in place and the mixed-use zoning, there is tremendous flexibility and the potential to be creative for potential developers and the city of Santa Clarita. For example, the property could be developed as 100 percent retail or a combination of retail and residential.”

Lee Csenar

The property is located at 23126-23170 Valencia Blvd., at the busiest intersection in Santa Clarita, Valencia Boulevard and Bouquet Canyon Road, which has 100,000 cars per day. 

The 12.60-acre site currently houses a 120,559-square-foot shopping center built in 1972. Taco Bell is located on a single-tenant outparcel as part of the offering.

“All existing leases will expire by 2024 (except Taco Bell’s lease), allowing an investor to collect annual cash flow while obtaining entitlements,” said Csenar. “Taco Bell’s lease expires in 2032, which allows an investor to individually parcel and potentially sell it separately to take advantage of historically low cap rates.”

For more information, please contact:

Anne Monaghan

MONAGHAN COMMUNICATIONS, INC.
anne@MonaghanPR.com
830.997.0963

 www.hanleyinvestment.com.

Davis Hotel Capital and F10 Hotels Join Forces to Bolster Capital Markets and Expand Investment Sales

Renny Goldstein

TAMPA, FL — Officials of Davis Hotel Capital, a premier investment banking firm with a focus on hospitality real estate, and F10 Hotels, one of the hotel industry’s highest volume mortgage brokers, announced the two companies have joined forces to provide clients with enhanced and expanded hotel investment advisory and financial services. 

Geoff Davis and Angelo Stambules from Davis Hotel Capital are assuming senior level roles within the F10 platform.  

“The hotel industry was said by the ‘experts’ to have peaked in 2013, yet here we are five years later with most markets across the United States still remaining healthy," according to Renny Goldstein.

Geoff Davis

  "While historically low interest rates have buoyed returns, new supply is a concern of both lenders and equity investors.  That’s why it’s critical at this stage of the cycle to have seasoned expertise in structuring capital. 

"F10 is recognized as a capital markets leader, which Angelo and I certainly complement with our track records.  At the same time, my investment sales experience will allow F10 to increase our presence in hotel brokerage. 

"With over 800 hotel sales on my resume, representing in excess of $12 billion of transactions, we see the opportunity to combine our capital markets skills with the ability to provide a targeted approach on investment sales to produce exceptional results for our clients.”

  Goldstein added, “We have always been proud of working with a full range of clients, from mom and pop hotel owners to institutional investors and everyone in-between. 

Angelo Stambules

"F10 provides each client with the same high touch level of service, while our attention to detail in presenting underwriting materials has engendered a unique level of trust from our capital sources.  "

"We see Geoff and Angelo as valuable additions who share the same philosophy and have the reputation to back it up.”

In addition to placing permanent, bridge and constructions loans, F10 Hotels also provides capital advisory services to arrange mezzanine debt, preferred equity and joint venture equity.  With offices in Florida, Texas, Colorado and the District of Columbia, the company intends to broaden its efforts in hotel investment sales.

                F10 Hotels structures and raises debt and equity capital for hotel transactions nationwide.  The company solves complex financial problems by creating efficient capital solutions for clients of all sizes.    Additional information may be found at http://f10hotels.com.

For more information, 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