Marcus & Millichap Brokers $2.6 Million Sale of 20,970-SF Property in Decatur, GA

Rory Shelby

DECATUR, GA, Aug. 25, 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 Gerber Collision - Decatur, a 20,970-square foot net-leased property located in Decatur, GA, according to Justin W. West, regional manager of the firm’s Orlando office. The asset sold for $2,600,000.

Rory Shelby and Scott Gould, investment specialists in Marcus & Millichap’s Orlando office, represented the seller, a private investor.

“We’ve sold over a dozen Gerber Collision facilities across the country,” said Gould, “and this location has been among the top performing locations nationwide. Both parties are very happy with the transaction.”

Scott Gould

The Gerber Collision is located at 725 Dekalb Industrial Way in Decatur, GA. Founded in 1937 by Phil Gerber, Gerber Collision & Glass has provided quality auto collision and glass repair service for more than 75 years.

What started as a single auto glass and trim shop in Chicago has grown to one of the largest auto collision and glass repair companies in North America. 

Contact:

Justin W. West

Vice President / Regional Manager,

 Jacksonville, FL

(904) 672-1400

www.MarcusMillichap.com

Marcus & Millichap Arranges $1.25 Million Portfolio Sale of 9,700-SF of Retail and Mixed-Use Buildings in Jacksonville, FL

Peter Catanzaro

JACKSONVILLE, FL, Aug. 25, 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 Dicks Wings | NNN & Mayport Flex, a 9,700-square foot mixed-use property located in Jacksonville, FL, according to Justin W. West, regional manager of the firm’s Jacksonville office. The asset sold for $1,250,000.

Peter Catanzaro and Randall Jackson, investment specialists in Marcus & Millichap’s Jacksonville office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. 

Dicks Wings | NNN & Mayport Flex is located at 2434 & 2426 Mayport Road in Atlantic Beach, FL. This was a portfolio sale of two adjacent parcels.

Contact:

Justin W. West

Vice President / Regional Manager,

 Jacksonville, FL

(904) 672-1400

Levin Johnston Directs Two Property Sales Totaling $11 Million in Silicon Valley, CA

Robert Johnston

SILICON VALLEY, CA  – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has successfully directed two commercial property sales totaling $11 million in the Silicon Valley.

The properties include a multifamily community in Santa Clara, California and a stand-alone industrial warehouse in San Jose, California.

“These transactions demonstrate continued investor appetite across various product types in the Silicon Valley,” says Robert Johnston, Senior Vice President of Levin Johnston.

 “Even with property values on the rise, investors understand the inherent value in core locations with extremely strong market fundamentals. Both of these transactions represent well-located assets that are poised for long-term appreciation.”

Levin Johnston’s recent transactions include:

Adam Levin

$7.6 Million Sale of Claddagh Apartments in Santa Clara, CA

Levin Johnston directed the acquisition of a 20-unit multifamily community in Santa Clara, California for $7.6 million. Levin Johnston represented the buyer, a local apartment group in the Bay Area.

The property is located at 1408 Reeve Street in Santa Clara, California.

Sale of 10,000 Square-Foot Warehouse in San Jose

Levin Johnston also directed the sale of a vacant, 10,000 square-foot industrial/flex warehouse located at for $3.4 million.  The buyer plans to renovate and occupy the facility. 

Adam Levin, Senior Managing Director of Levin Johnston, represented the seller, a private local investor, in the transaction.

“Our client initially acquired this asset for $2.7 million approximately 14 months ago,” says Levin. “By marketing the property widely and attracting multiple competitive offers, we were able to achieve a 26-percent value increase on the property for the seller, who ultimately sold the property for $3.4 million.”

The property is located at 524 East Brokhaw Road in San Jose, California.

  

CONTACTS:

Alex Caswell / Jenn Quader 

Brower Group

(949) 955-7940

acaswell@brower-group.com

HFF announces $6.75 million financing for mixed-use building in Tampa, FL

442 West Kennedy Boulevard, Tampa, FL

Scott Wadler

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $6.75 million financing of 442 West Kennedy Boulevard, a 37,400-square-foot mixed-use property in Tampa, Florida.

The HFF team worked on behalf of the borrower, a joint venture between Tricera Capital and the Gianco Companies, to secure the five-year, fixed-rate loan through JCR Capital.  Loan proceeds were used to acquire the property and fund future capital expenditure items.   

442 West Kennedy Boulevard is situated at the apex of West Grand Central Avenue and Kennedy Boulevard just steps from the campus of the University of Tampa, which is home to more than 7,000 students. 

 Its premier location west of downtown is adjacent to multiple new residential developments, including Altis Grand Central and Manor Riverside. 

Preston Reid

 Furthermore, the property is located near the Oxford Exchange, a popular local restaurant, bookstore, coworking space and event venue. 

Overall Tampa is currently undergoing a renaissance, transforming from a market dominated by old paradigm Class A office buildings to a highly attractive area to live, work and play.

Originally built in 1925, 442 West Kennedy Boulevard comprises 24,700 square feet of office space and 12,700 square feet of retail space.

The building features two stories of office space comprising of both local and regional tenants. Occupying the majority of the ground floor is the fine dining restaurant, Mise En Place, which has been in business at this location for more than 30 years and was recently named the No. 1 Restaurant in Tampa Bay.

Mis en Place Restaurant, Tampa, FL

The HFF debt placement team representing the borrower included senior director Scott Wadler and director Preston Reid.

“The Tampa Bay area has evolved over the past several years into one of the most desirable cities in the country for real estate investment,” Reid said.  “As a Tampa native, it is exciting to see sophisticated, well-capitalized investors like Tricera Capital buying into the vision of Tampa as a top-performing metro.”

CONTACTS:

SCOTT WADLER

HFF Senior Director

(305) 448-1333

swadler@hfflp.com

PRESTON REID

HFF Director

(813) 387-9900

preid@hfflp.com 

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

www.gianco.co.

www.jcrcapital.com.