Monday, July 23, 2018

Hanley Investment Group Arranges Sale of New Dunkin’ Donuts and Bank of America in Denver, CO Metro Area

New Retail Building, 13591 Huron Street, Westminster, CO

WESTMINSTER, CO -- Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm has completed the sale of a new construction, freestanding, multi-tenant retail building at 13591 Huron Street in Westminster, Colorado.

Jeff Lefko
 The three-tenant building includes Dunkin’ Donuts with a drive-thru, Bank of America ATM and Huron Liquor. 

The purchase price was $3,250,000, representing $603 per square foot. The property closed at a 5.9 percent cap rate, one of the lowest cap rates for a multi-tenant retail pad in the Denver MSA.

Bill Asher

Hanley Investment Group Vice President Jeff Lefko and Executive Vice Presidents Bill Asher and Jeremy McChesney represented the seller, Mark Development Inc. of Redlands, California. Peter Peluso of Legend Partners in Denver represented the buyer, a private investor from Florida.

“We generated 14 offers within the first two weeks of marketing the property due to the quality of the location – a high-traffic, signalized intersection in an affluent, fast-growing Denver submarket – and the quality of the tenants on long-term leases in a newly constructed building,” said Lefko.

Jeremy McChesney
 “The strength of the asset and its fundamentals created an immediate bidding war which resulted in a sale price over the original list price and one of the lowest cap rates for a multi-tenant retail pad in the Denver MSA.”

The 5,389-square-foot building was built in 2016 and is situated on 1.15 acres at the signalized intersection of Huron Street and 136th Avenue in Westminster. All three tenants have initial 10-year leases with fixed rental increases, according to Asher.

“The Dunkin’ Donuts’ lease was very appealing to investors as it was guaranteed by a 400+ unit operator,” said McChesney. “The franchisee is extremely experienced operating brands including Little Caesars Pizza, Wingstop, Red Robin Gourmet Burgers and Brews, and Sizzler. 

Peter Peluso
"It was a very attractive characteristic to the asset that created a tremendous volume of interest and was viewed by investors similar to purchasing an investment with a corporate guaranty such as a Starbucks.”

Bank of America has a 900-square-foot location at the property and it is the company’s new ATM prototype.

“The investment offers a secure and stable income stream with internet-resistant tenants positioned for long-term success,” said Asher. “The property also benefits from over 270,000 people in a five-mile radius and an average household income exceeding $110,000 in a one-mile radius.”

There are over 33,000 cars per day at the intersection of Huron Street and 136th Avenue with points of ingress and egress from both streets, Lefko notes.
For more informaion, please contact:

Anne Monaghan

Full-service Title Agency Proper Title, LLC, Expands in Oak Brook, IL

David Garside
CHICAGO, IL — Palatine, Ill.-based Proper Title, LLC, the second-largest title agent in Illinois, announced the opening of its new office in Oak Brook at 1010 Jorie Boulevard, near the intersection of Interstate 88 and Route 83.

The company’s previous Oak Brook office was just down the street from its new location, but due to increased business, Proper Title needed a larger space to accommodate its growing client base.

“We knew we didn’t want to leave this area as Oak Brook offers a great centralized location to serve the Western suburbs, a robust market where we see strong growth potential,” said David Garside, executive vice president of title and escrow operations at Proper Title.

“This larger Oak Brook location is the second new office we have opened in less than a year, which speaks to the rise in the number of closings we have experienced since launching the company five years ago.

"In fact, this past June marked a record-breaking number of closings since we opened in 2013.”

For more information, please contact:

Traci Failla,, (312) 267-4516
Kim Manning,, (312) 267-4527

Sales Start This Fall at Lexington Reserve at Oak Park, a New Community of 21 Rowhomes in Oak Park, IL

Lexington Reserve at Oak Park Row Homes, Oak Park, IL
CHICAGO, IL — This fall, Lexington Homes will make its homebuilding debut in Oak Park, Ill., the popular “surban” village just west of Chicago’s city border. Lexington Reserve at Oak Park will offer 21 rowhomes within walking distance to all the amenities of downtown Oak Park. Unique for this type of home in this area, one floor plan at Lexington Reserve will offer the option for an elevator.

Jeff Benach
Located on Madison Street, between Home and Clinton avenues, Lexington Reserve will bring the builder’s time-tested, popular rowhome floor plans to this sought-after area known for its great dining destinations, entertainment, recreation and acclaimed schools. 

“Oak Park is consistently one of the most in-demand suburbs because of its proximity to the city along with its rich cultural amenities, and we are thrilled to be building our first community here,” said Jeff Benach, principal of Lexington Homes. 

“The village is a great fit for our homes because much of the existing housing stock is older and requires more maintenance than most buyers want to tackle. 

"We expect to see great interest in our new-construction, maintenance-free homes from right-sizers whose kids have flown the nest as well as young professionals and families looking for a new home that has all the modern finishes without all the upkeep.”

For more information, please contact:

 Kathryn Kjarsgaard,, (312) 267-4514
 Kim Manning,, (312) 267-4527

Marcus & Millichap Brokers $6.7 Million Sale of 29,343-SF Fitness Facility in Cape Coral, FL

Around the Clock Fitness, Cape Coral, FL

Jim Shiebler


CAPE CORAL, FL,  July 23, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Around the Clock Fitness, a 29,343-square foot net-leased property located in Cape Coral, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $6,775,000.
Jim Shiebler, James Garner and James Medefind, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.                            
“Through the power of Marcus & Millichap’s massive national platform and access to the largest qualified buyer pool, we were able to source multiple offers for the sale leaseback opportunity. 

James Garner
"Ultimately, we selected a large institutional investment company from Arizona which demonstrates M&M’s ability to access and import capital from coast to coast. The transaction went from contract to close in 23 days and sold for 98% of list price.” says Mr. Shiebler.
            Around the Clock Fitness is a 24-hour fitness club located in Cape Coral, Florida. The building, professionally remodeled in 2017, boasts over 29,000 square feet of affordable luxury fitness equipment and amenities. Amenities include group fitness classes such as Zumba, spinning, Yoga, personal training, group training, Tribe Training, CrossFit, Kids Zone and a 24-hour Juice Bar.

James Medefind
Around the Clock Fitness is located in the heart of Cape Coral, just west of the center of Fort Myers. 
There is a local population of over 100,000 people within a five-mile radius of the property and a median age of 38.5 years. 
These demographics are ideal for this tenant and makes this investment opportunity attractive to nearly all investors. 
Around the Clock Fitness is located at 1141 SW Pine Island Rd in Cape Coral, Fla. 

For more information, please contact:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700

Stos Partners Completes $100 Million in First Half Transactions

CJ Stos
SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment and management firm, has announced approximately $100 million in transactions during the first six months of 2018.
     “Transaction velocity is rapid in the San Diego industrial market, and savvy investors are faring very well when it comes to taking assets full-cycle,” says CJ Stos, Principal of Stos Partners.

“As experienced investors, we remain cognizant of where we are in the cycle, ensuring that our actions are strategic and thoughtful,” Stos continues. “By being selective in our acquisition strategy, we have been able to leverage the power of the current market, while also building a strong portfolio of assets that will perform well for the long-term.”

For more information and a rundown on the acquired properties, please contact:

Alex Caswell / Jenn Quader
Brower Group
(949) 955-7940

Native Realty Arranges Lease for New Flagler Village Bar/Live Music Venue

Sara Dorfman

FORT LAUDERDALE, FL –– Native Realty, the pioneering Fort Lauderdale commercial real estate firm led by Jaime Sturgis, successfully arranged a lease on behalf of the founders of Rank & File Social Club, a cocktail lounge and live music venue scheduled to open in Fort Lauderdale’s Flagler Village neighborhood in early October.

 The firm’s Sara Dorfman represented Rank & File in the transaction.

Stephen Barbagallo
The lease is for a 3,000-square-foot venue that can seat up to 100 patrons at 702 NE First Ave. 

Rank & File is set to join a growing restaurant and entertainment scene in the increasingly popular Flagler Village, where Native Realty is based at 908 North Flagler Drive.

Brothers Mark and Stefano Barbagallo created the Rank & File concept, which is inspired by throwback neighborhood bars where patrons and bartenders are on a first-name basis. 

The brothers plan to focus on local acts for the music program and have arcade-style video games and board games on the venue’s garden patio.

Dorfman guided the Rank & File founders through a search of available Flagler Village locations and the negotiation of lease terms, which were not disclosed.

Amanda Roy

“We are thrilled to help Mark and Stefano bring Rank & File to our home base of Flagler Village,” Dorfman said. “This transaction underscores the neighborhood’s emergence as a hub for creative entertainment concepts.

We look forward to continuing to play an active role in the evolution of Flagler Village.”

The Rank & File transaction continues a busy stretch of activity for Native Realty.

Jaime Sturgis
On June 29, Sturgis and Amanda Roy closed the $6.75 million sale of mixed-use Seagrape Commons, a fixture in Lauderdale-by-the-Sea for more than 50 years.

In May, Dorfman completed the record-breaking sale of an Airbnb rental property in Fort Lauderdale’s popular Victoria Park neighborhood.

 The 808-812 NE 16th Terrace property changed hands for $1.65 million, the highest sale price in Victoria Park since at least 2006 and the most expensive in the history of the neighborhood on a price per unit basis.

For more information, please contact:

Eric Kalis
Account Director, BoardroomPR
Bank of America Plaza | 1776 N Pine Island Road