NAI Realvest Closes Two Boutique Office Building Sales Totaling $770,000 in Downtown Orlando ’s North Quarter Urban District

ORLANDO, FL – NAI Realvest closed on two separate sales of adjacent properties totaling $770,000.  The buildings are located in the North Quarter district of downtown Orlando and both will be used for law offices.   

Kimberly Manson

 The NAI Realvest team of Jeff Tanner and Kim Manson represented Seller, Orlando-based Jcash-3 Inc., a real estate holding company, in a $450,000 sale of the 1,635 square foot stand-alone office building at 827 Irma Ave.

Jeff Tanner

 The Buyer, US Immigration Law Group, LLC, d/b/a Rineer Law with over a decade of immigration law experience, was represented in the transaction by Jonathan Hughes and Michael Danforth of Cresa Orlando.  

Michael Danforth

  Next door, Tanner and Manson represented the Beech Mountain, N.C.-based seller 831 Irma Avenue, LLC, and the buyer Law Office of Michael J. MacDonald P.A., operating as MacDonald Law at the 1,272 square foot freestanding office building purchased for $320,000.

Both law practices were previously leasing space in downtown Orlando .  As lease rates in the downtown office sector continue to rise, NAI Realvest has been seeing an increase in the need for office building sales inventory, particularly in the up and coming North Quarter. 

The area offers walkability to SunRail, an array of top-notch restaurants, new contemporary townhomes, arts and culture.           

CONTACTS:

Kimberly B. Manson or Jeffrey Tanner, NAI Realvest, 

407-875-9989 
Kmanson@realvest.com or Jtanner@realvest.com  

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com

Beth Payan, Larry Vershel Communications, 407-644-4142 lversehlco@aol.com

Henin Group’s Two DeBary, FL Developments Near SunRail Station Picking up Speed

Riviera Bella Extension Model, DeBary, FL

DeBary, FL--- Site development is going fast in Henin Group’s new single-family neighborhoods in DeBary. Sales got underway once all approvals came in for Phase I homesites at both the 66-acre Riviera Bella Extension and the 64-acre Springview Woods.

More than 20 new D.R. Horton homes have been presold at Springview Woods, since the homebuilder finished development of 49 homesites they closed on last spring. 

They also opened a decorated model at 400 Tallow Wood Circle in the community located off U.S. 17-92 next to the DeBary SunRail station.

D.R. Horton recently closed on its first 20 homesites at Riviera Bella’s new 293-homesite extension located directly across Fort Florida Road from the original gated community, and they started construction of a model that will be opened in 60 days, according to Jerome Henin, president of Henin Group. 

Springview Woods Model, DeBary, FL

 The homebuilder has committed to purchase the remaining 273 lots at Riviera Bella Extension, Henin added.

D.R. Horton is now selling collections of single-family homes at Riviera Bella Extension and Springview Woods in six distinct one and two-story designs priced from the mid-$200,000s.

“Sales are going extremely well at both of these new developments,” Henin said. “At Springview Woods we anticipate the 195 homesites will go quickly, especially with the recently announced commercial project “The Junction,” that will include a grocery store, dining and shops right across from the SunRail station.

Jerome Henin

There are still 29 estate exclusive homesites available within the original 410-unit Riviera Bella development. 

Henin Homes offers custom and semi-custom homes on the riverfront that are priced at well over $1 million.

 M/I Homes is selling several home designs priced from $300,000 up to $850,000.

Buildout of Riviera Bella with well-maintained amenities, including over 700 homes with the new Riviera Bella Extension is anticipated by 2025.    The Springview Woods buildout will most likely be in 2022.

CONTACTS:

Jerome Henin, Founder / President, Henin Group,

386-668-7811;   jerome@henin-co.com

Rob Lawson, VP of Sales, D.R Horton,

407-466-4363 RLawson@DRhorton.com

Larry Vershel or Beth Payan, Larry Vershel Communications,

407-644-4142  lvershelco@aol.com  

HFF expands national loan sales team with addition of senior director Greg Goldstein in its Los Angeles office

Greg Goldstein

LOS ANGELES, CA, Oct. 24, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has expanded its loan sales group with the addition of senior director Greg Goldstein.

 Mr. Goldstein is located in HFF’s Los Angeles office and will work with HFF’s national loan sales group led by executive managing director Gerard Sansosti in the firm’s Pittsburgh office and senior managing director Wally Reid in the firm’s Houston office.

Gerard Sansosti

Mr. Goldstein has nearly 15 years of experience in the commercial real estate industry. Since 2004, he has worked at Eastdil Secured where he was most recently a senior vice president in their loan sales group. 

Mr. Goldstein has extensive experience with performing, sub-performing and non-performing commercial mortgage loans as well as subordinate/mezzanine loans and REO properties, and has worked with a variety of clients, including domestic/foreign banks, life insurance companies, debt funds/mortgage REITs, special servicers and investment banks. 

He holds FINRA Series 7 and 63 licenses and is a licensed California real estate salesperson.  Mr. Goldstein attended Macalester College where he received his Bachelor of Arts in Economics and later the University of Southern California, where he received his Master of Business Administration with a concentration in Real Estate Finance.

Wally Reid

“We are excited to welcome Greg to the growing loan sales group and officially plant the flag for loan sales on the West Coast,” Sansosti said. 

 “We have been looking for the right person on the West Coast and to have someone come along with Greg’s experience and relationships in the business is a great addition for HFF.”

  

CONTACTS:

GERARD SANSOSTI

HFF Senior Managing Director

(412) 281-8714

gsansosti@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

Kelly Hopkins

ATLANTA, GA (Oct. 24,  2018) – Kelly Hopkins has joined Stonemark Management as Director of Construction.

 Hopkins, who has almost two decades of experience in real estate construction, will oversee all the multifamily firm’s property renovations, value-add rehabs and other physical property-related projects.

“We expect that Kelly’s strategic experience planning and executing capital expenditures will enhance our clients’ investments while increasing the overall quality of life for our residents,” said Stonemark President Walt Lamperski. 

Walt Lamperski

Hopkins is a licensed general contractor in several states, and has served leading companies in luxury, extended stay and affordable multifamily housing.

His expertise includes large-scale interior redevelopments, full property repositioning, value-add opportunities and disaster recovery.

He has been COO of a boutique contracting firm specializing in multifamily renovations, which grew to complete $60 million in improvements annually within three years of his arrival. Most recently, he owned his own multifamily construction business. 

“His expertise and entrepreneurial spirit will help our team work even more closely owners to meet their needs and better serve our residents,” added Stonemark Regional Vice President Darlene Hunter.

The Stonemark Group focuses on the acquisition, financing, ownership and disposition of multifamily real estate investments in the Southeast, Midwest, Oklahoma, Texas and Virginia.

 The group includes Atlanta-based Stonemark Equities and Van Mark Equities.

For more information, visit www.stonemarkmanagementllc.com. 

CONTACT:

terri@territhornton.com

HFF announces $15 million sale and $9 million financing of 15 Shattuck Road in Andover, MA

Jennifer Keller

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $15 million sale and $9 million financing of 15 Shattuck Road, a 92,700-square-foot data center located in Andover, one of Boston’s primary technology- and healthcare-oriented suburbs. 

Christine Flaherty

At the time of sale, the asset was 100 percent leased to Tierpoint, a leading national provider of information technology and data center services, including colocation, cloud computing, disaster recovery and managed IT services.

Coleman Benedict

The HFF team arranged the sale of the property on behalf of Carter Validus Mission Critical REIT I and procured the buyer, Menlo Equities.  Additionally, HFF arranged the financing through Berkshire Bank.

15 Shattuck Road is in Andover, close to several large corporate users and office parks.

The considerable infrastructure and high replacement cost made this asset hotly contested in a world where data continues to grow at unprecedented rates and storage thereof has become more and more difficult to supply.

The HFF investment advisory team representing the seller included Coleman Benedict, Ben Sayles and Kerry Hawkins.

Ben Sayles

HFF’s Jennifer Keller represented Menlo Equities in the arrangement of acquisition financing.  The Berkshire Bank team included Doug MacLean and Christine Flaherty.

Carter Validus Mission Critical REIT, Inc. is a real estate investment trust that invests in mission critical real estate assets located throughout the United States. 

Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants.

Founded in 1994 by Henry Bullock and Rick Holmstrom and headquartered in Menlo Park, California, Menlo Equities is a vertically integrated commercial real estate company engaged in the acquisition, development, and operation of properties in select United States innovation hub markets.  Founders Bullock and Holmstrom continue to lead the firm today. 

Kerry Hawkins

Menlo Equities has acquired or developed approximately 110 properties, encompassing 17.6 million square feet of high profile office, R&D, data center, life science and infill-logistics commercial real estate. 

Henry Bullock

 As of December 31, 2017, the total value of assets under management was approximately $1.7 billion.

CONTACTS:

KERRY HAWKINS

MA Lic. #9038451

HFF Senior Director

(617) 338-0990

khawkins@hfflp.com

Rick Holmstrom

JENNIFER KELLER

HFF Senior Director

(617) 338-0990

jkeller@hfflp.com  

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Marcus & Millichap Orange Arranges $1.77 Million Sale of Ace Cash Express Center in Orlando, FL

Douglas T. Kinson

ORLANDO, FL, Oct.24, 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 ACE Cash Express Center, a 5,491-square foot retail property located in Orlando, FL, according to Justin W. West, regional manager of the firm’s Orlando office.

 The asset sold for $1,770,000.

Douglas T. Kinson, Joseph F. Russo and Tom Thompson, investment specialists in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

The buyer, a private investor, was secured and represented by Yog Melwani, Align Commercial Real Estate, Orlando, FL.

Joseph F. Russo

ACE Cash Express Center is located at 4490 S Semoran Blvd in Orlando, FL. 

The property is 100% occupied and anchored by ACE Cash Express along with Brooklyn Pizza, Sandy Dry Cleaners and Yocastas Beauty Salon.  The center was built in 1980 with extensive renovation in 2009.

Contact:

Justin W. West

Vice President / Regional Manager

Orlando, FL

(407) 557-3800