NAI Hiffman Arranges Sale of 254,425-SF Industrial Building in Bridgeview, IL

7557-7575 South 78^th Avenue, a 254,425-square-foot industrial building in Southwest suburban Bridgeview, IL

Lawrence Much

 OAKBROOK TERRACE, IL — NAI Hiffman, the largest independent real estate services firm in the Midwest, announced the sale of 7557-7575 S. 78^th Ave., a 254,425-square-foot industrial building in Southwest suburban Bridgeview, Ill.

 NAI Hiffman Executive Vice President Lawrence Much, SIOR; Executive Vice President Steve Connolly, SIOR; and Associate Drew Bulson marketed the property on behalf of the owner, Heller Industrial Parks, and also procured the buyer, TradeLane Properties, an Oak Brook, Ill.-based private investment group.

The new owner plans to immediately begin extensive renovations to modernize the building, and has secured NAI Hiffman as its leasing agent.

Steve Connolly,

Built in 1970, the 254,425-square-foot distribution warehouse includes 37 exterior loading docks, one drive-in door, 20-foot clear ceiling heights, 113 trailer positions, 40-foot-by-40-foot column spacing, heavy power for manufacturing, Indiana Harbor Belt (IHB) rail service and ample land for outside storage.

The seller was the original owner and designed the building to be evenly divided if needed, to accommodate two tenants.

“There is enormous investor interest in buildings such as this one that can serve as last-mile hubs for e-commerce, as consumer demand for shorter delivery times, including same-day service, continues to grow,” said Much.

Drew Bulson 

 “From Bridgeview, goods can be delivered quickly to end users in downtown Chicago as well as to the millions of consumers within the greater Chicago metropolitan area. The location also appeals to manufacturers and distributors for easy access to a large skilled-labor force.”

7557-7575 S. 78th Ave. is centrally located in Southwest Cook County less than four miles from I-55 and less than three miles from I-294.

 The center is located near shops and restaurants along Harlem Avenue, six miles from Midway International Airport, 25 miles from O’Hare International Airport and 16 miles from Chicago’s Loop.

CONTACTS: 

Patty Cronin, pcronin@taylorjohnson.com, (312) 267-451

Gretchen Muller, gmuller@taylorjohnson.com, (312) 952-4802

www.hiffman.com

Travelodge Florida Mall Sold for $5.5 Million in Orlando, FL

 

Travelodge Florida Mall, a 125-room hospitality property located at 1850 West Landstreet Road 

ORLANDO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Travelodge Florida Mall, a 125-room hospitality property located in Orlando, FL, according to Scott Lunine, Regional Manager of the firm’s Miami office. The asset sold for $5,500,000.

Ahmed Kabani, an investment specialist in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was secured and represented by Kabani,

Ahmed Kabani

Travelodge Florida Mall is located at 1850 W Landstreet Rd in Orlando, FL.  (Built in 1988, the 132-unit property is an interior and exterior corridor hotel located adjacent to Florida Mall.

The property sits on a total of 2.72 acres.) “This property has an opportunity to grow further under the new management. The property is in an excellent location close to Florida Mall and Orlando International Airport”, stated Kabani.

CONTACT:

Scott Lunine

Vice President

Regional Manager

Miami, FL

(786) 522-7000

Two Denver development projects receive $25 million in financing

777 and 757 Grant Street, Denver, CO

DENVER, CO – JLL announced it has secured $25 million in construction and bridge financing for 777 and 757 Grant Street in Denver, Colorado. 777 Grant Street is a vintage office building that will be renovated and repositioned while 757 Grant Street is a Class A, ground-up multifamily development.

Leon McBroom 

JLL worked on behalf of the borrower, LCP Development, to secure the three-year construction and bridge loan through a national bank. 

Located on the hard corner of 8^th Avenue and Grant Street within Denver’s Capitol Hill neighborhood, 777 and 757 Grant Street possess phenomenal access throughout the Denver metro via automobile, public transit or the Cherry Creek Bike Path. 

Capitol Hill is highly amenitized with numerous bars and restaurants, entertainment destinations and retail options all within a walkable live-work-play environment that boasts one of the highest resident concentrations in Denver. 

Once renovated, 777 Grant will be a Class A asset providing the market with best-in-class office space, and modern amenities such as a “corporate living room” planned for the first floor lobby that will feature a kitchen/café area with high-top booth seating; a large executive conference room; ground floor retail space; a new fitness center with lockers and showers; and bike and storage space. 

The 77,331-square-foot building will also provide tenants with 138 parking stalls in a below-grade parking structure and surface parking. 

757 Grant Street will be a ground-up, four-story residential building sitting atop a four-story parking structure. The studio-only, 68-unit development will cater to residents seeking smaller living quarters at a more affordable price point and will offer tenants top-of-the-line amenities, including a community room with kitchen, fitness center and rooftop deck with lounge seating, gas grills and a fire pit. 

Kristian Lichtenfels

JLL’s Capital Markets team representing the borrower was led by Senior Directors Leon McBroom and Kristian Lichtenfels.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

 The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

  

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

Contact: 

Kristen Murphy, JLL Director, Public Relations 

Phone: +1 617 848 1572

Email: kristen.murphy@am.jll.com 

 jll.com.

The Altman Cos. Acquires Land, Closes Loan and Holds Groundbreaking Ceremony for its Two Newest Developments in Miramar, FL

Joel Altman

Miramar, FL – The Altman Companies, a nationally recognized developer of exceptional rental apartment communities, announced it has closed on the land and its construction loan and held a Groundbreaking Ceremony for its two newest developments in Miramar.

 Altman partnered with Rockpoint Group, a Boston-based real estate private equity firm, in the transaction. PNC Bank and Comerica Bank provided the construction loan for the development.

Development will be at the northwest corner of Red Road and Miramar Parkway in Miramar, FL

"We are thrilled to begin the construction process on Miramar,” said Joel Altman, Chairman of The Altman Companies. “We look forward to bringing an exceptional living experience to this suburban area of Broward County where we will provide residents with a standard of living, they won’t find anywhere else in the market.”

 Located at the northwest corner of Red Road and Miramar Parkway in the City of Miramar is one of the last remaining garden development sites in Broward County. 

The development consists of two distinct communities within a larger master planned development that will feature spacious floorplans with energy efficient appliances, designer kitchens, spa-inspired baths, private balconies and several with attached garages.

Media Contact:

Kip Hunter Marketing, 954-765-1329

Nicole Lewis (c: 305-803-9177), Nicole@kiphuntermarketing.com

Aimee Adler Cooke // Aimee@kiphuntermarketing.com 

 www.AltmanCos.com.

www.BBXCapital.com.

www.BBXCapitalRealEstate.com.

NAI Realvest Closes Land Lease in Winter Haven, FL for Brevard County Trucking Firm’s Expansion

Chris Adams

WINTER HAVEN, FL – NAI Realvest recently negotiated a land lease of the 4.64-acre parcel at 2500 Dundee Rd. in Winter Haven . 

Pinto Transport, Inc. of Palm Bay leased the property to expand their operations.  They will use the new Winter Haven location for truck repair and storage.  

 Chris Adams, vice president at NAI Realvest brokered the transaction on behalf of the tenant and the local owner/landlord John P. Adams Properties, Inc.  

CONTACTS:

Chris Adams, Vice President, NAI Realvest, 

407-875-9989 cadams@realvest.com

                                                                                                                        

Patrick Mahoney, President / CEO,  NAI Realvest,

 407-875-9989 pmahoney@realvest.com

 Beth Payan, Larry Vershel Communications, 

407-644-4142 lvershelco@aol.com  or beth@larryvershel.com

Hold-Thyssen Closes on Two Professional Office Leases in Florida

Theresa Margaris

Tampa, FL --- Hold-Thyssen, Inc. a full-service commercial real estate firm brokered two new professional office leases on behalf of the landlords and tenants to facilitate the relocation of an established medical practice and an IT support company.   

6301 Memorial Building, Tampa, FL

Leasing Associate Theresa Margaris at Hold-Thyssen’s Clearwater office represented A Woman’s Place Medical Clinic who leased 1,750 square feet in the 6301 Memorial Building on Memorial Highway in Tampa . 

 The established medical practice is relocating to provide counsel and care in an underserved market.  

Margaris represented the landlord at Chateau Professional Park in a lease agreement with Revitup Enterprises, LLC for 1,500 square feet.  Revitup has provided design, development and support services for over a decade.  

Chateau Professional Park, Lutz, FL

The new location at 18530 N. Dale Mabry Hwy. in Lutz is larger and more centralized and will enable the locally-owned firm to better serve existing and new clientele. 

HoldThyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  

The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States . 

CONTACTS:

 Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, Inc. 

813-880-7100 ext303 rfisher@HoldThyssen.com

 Theresa Margaris, Leasing Associate, Hold-Thyssen, Inc. 

813-880-7100 TMargaris@HoldThyssen.com

 Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 

407-644-4142 Lvershelco@aol.com

NAI Realvest Brokers New Industrial Lease for HVAC Contractor’s Relocation from Winter Park, FL to Winter Garden, FL

Matt Cichocki 

WINTER GARDEN, FL -- NAI Realvest recently closed on the multi-year lease of 5,625 square feet at 902 Carter Rd. in Winter Garden’s Carter CommerCenter to accommodate the relocation of All Star Heating and Cooling of Central Florida, LLC from Winter Park.    

Matt Cichocki and Kevin O’Connor, principals at NAI Realvest negotiated the lease on behalf of the landlord and the new tenant who recently opened for business at the facility which is currently 100 percent occupied.

About NAI Realvest  

NAI Realvest in Orlando, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. 

Kevin O’Connor

 NAI Global is an international commercial real estate network with over 400 offices spanning the globe.  Since 1978, clients have built businesses on the power of NAI Global’s expanding network.  

Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. 

To learn more, please visit www.NAIRealvest.com.  

CONTACTS:

Matt Cichocki or Kevin O’Connor Principals NAI Realvest,

 407-875-9989 

mcichocki@realvest.com  Koconnor@realvest.com

Patrick Mahoney, President / CEO, NAI Realvest, 

407-875-9989 PMahoney@realvest.com  

Beth Payan, Larry Vershel Communications,

 407-644-4142  Lvershelco@aol.com

Crossman & Company CEO John Crossman retiring

John Crossman

ORLANDO, FL -- John Crossman, CEO of Crossman & Company, announced today that he is retiring.  Crossman is 48 years old.

When asked what prompted his decision, Crossman explained that a couple of family members have some medical issues – not life-threatening but they are significant – and he wants to focus on care giving.

Jim Seneff

Crossman is one of the most well-known brokers in the US.

His career, spanning over 26 years, has been highlighted by numerous achievements both professionally and through his community leadership.  
 Crossman plans to continue to do some charitable work and consulting.

“My focus right now is my family and I am going to take as much time as it takes to care for them.  It’s likely that I will be back working at some point in the future but I don’t have a timetable right now,” he said.

Scott Crossman

Crossman remains the youngest person ever to be named to the FSU College of Business Hall of Fame.  The only other Central Florida resident joining him is Jim Seneff.

 John is also a member of the University of Florida Honorary Alumni Association joining coaches Billy Donovan, Urban Meyer and Ron Zook.

He was named CEO of The Year in 2018 by the Orlando Business Journal and one of the top 500 Most Influential Business Leaders in the state by Florida Trend magazine in both 2018 and 2019.

Crossman is widely recognized for his work with college students and his commitment to diversity.  He wrote a best selling book for millennials and college students and he endowed the first ever real estate scholarships at both FAMU and B-CU which are HBCUs (historically black colleges and universities).

 John Zielinski 

 He also has Real Estate scholarships at FSU, UCF and UF. UNCF, Urban League, the African American Chamber of Commerce and many others have recognized his contributions.

“I am a servant leader.  My role in life is to serve others and to make an impact for those who are marginalized. 

"For this season of my life, I will be serving my family members who need me the most right now,” Crossman said.

Scott Crossman, the founder, who has continued to serve as a corporate officer for 29 years, will return to the role of CEO. 

John Zielinski will remain as President and head of operations for Crossman & Company.

CONTACTS:

John Crossman, CCIM, Chief Executive Officer, Crossman & Company,

 407-581-6218, jcrossman@crossmanco.com;

Beth Payan, Larry Vershel Communications,

407-644-4142 or 407 461-3781 beth@larryvershel.com