HFF announces sale of Publix-anchored shopping center near Atlanta

Shallowford Corners Shopping Center, Roswell, GA

                                                                                                    

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Shallowford Corners, a 112,427-square-foot, Publix-anchored neighborhood shopping center in the affluent northern Atlanta submarket of Roswell, Georgia. 

Jim Hamilton

The HFF team marketed the property on behalf of the seller, LaSalle Investment Management.  Publix purchased the asset.

Shallowford Corners is strategically located in one of the most highly sought-after Atlanta submarkets, East Cobb. 

The property is 99 percent leased and anchored by the Southeast’s most-desired grocer, Publix, which drives persistent traffic to the shopping center and its diversified, internet-proof tenant mix that includes a variety of service-oriented shops, medical/health tenants and restaurants.  

The nationally and regionally focused tenant line-up representing 82 percent of the property’s leased GLA has a strong operating history exceeding 11.5 years and includes the following notable retailers: Publix, Goodwill, JP Morgan Chase, Workout Anytime, Edward Jones, Banfield Pet Hospital, Great Clips and more.  

Brad Buchanan

The property was originally constructed in 1986 on 16.1 acres located 20 miles north of downtown Atlanta at the highly traveled intersection of Johnson Ferry Road and Shallowford Road, which has combined traffic counts exceeding 47,000 vehicles per day.

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Mike Allison and analyst Andrew Kahn.

LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. 

Mike Allison

 LaSalle on a global basis manages approximately $60.5 billion as of Q3 2018 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. 

 LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. 

 LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies.  

CONTACTS:

JIM HAMILTON

GA Lic. #270038

HFF Senior Managing Director

(404) 832-8460

jhamilton@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

http://corporate.publix.com.

www.lasalle.com.

Alpha Partners Redevelops “Welcome Mat” Retail Property at the Southwest Gateway into Columbus, OH

Avi Abroms

NEW YORK, NY – Alpha Partners, a commercial real estate company that develops, invests and operates multifamily and select retail opportunities, announced it is redeveloping a 4.9-acre lot on Stringtown Road, the first major entry point into the south side of Columbus, OH.

Part of the main retail corridor for Grove City, OH, 1849 Stringtown Road is a high-visibility location with easy access to I-71. The site is ready for a small strip center and will potentially include a drive-through QSR and/or restaurant. Additionally, the Days Inn located in the rear of the parcel will be rehabilitated from the inside out.

“Perhaps not the kind of property typically viewed as hip or cutting-edge, we see this area on Stringtown Road as a ‘Welcome Mat’ into Columbus with a ton of potential – it’s a great creative real estate deal story,” said Avi Abroms, Managing Partner, Alpha Partners.

Downtown Columbus, OH Skyline

 “The site offers investment opportunity that will not only serve the community’s daily needs, but also mark the spot that appropriately introduces tourists, businesspeople and newcomers into the historic - yet growing and evolving - midwestern urban area.”

The immediate area surrounding Stringtown Road is expecting continued population growth over the next five years as job creation continues to expand.

Alpha Partners has completed other similar upgrade deals throughout the Midwest and is also currently responsible for renovating and leasing the 128-year old, historic Zettler Hardware Building at 101 E. Main St. in downtown Columbus’ Red Brick District.

CONTACT:

Laura Schooler

Public Relations

Alpha Partners Group

Laura@alphapartnersgroup.com

917-446-5717

  www.alphapartnersgroup.com.

HFF announces $26 million refinancing for Hyatt Regency Fairfax hotel in Fairfax, VA

Hyatt Regency Fairfax, 12777 Fair Lakes Circle, Fairfax, VA

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged a $26.2 million refinancing for Hyatt Regency Fairfax, a 316-room, full-service hotel in the heart of Fairfax, Virginia.

The HFF team worked on behalf of the borrower, a partnership between The Carlyle Group and Songy Highroads LLC, to place the three-year, floating-rate loan with two one-year extensions with H.I.G. Realty Partners.  Loan proceeds will be used to retire existing debt.

Chris Hew

Situated in the heart of Fairfax County, the third wealthiest county in the United States and home to Northern Virginia’s largest defense and intelligence community demand drivers, the Hyatt Regency Fairfax is at 12777 Fair Lakes Circle and part of the 650-acre Fair Lakes mixed-use master planned community that includes 1.3 million square feet of office, two million square feet of retail and more than 2,000 residential units. 

The hotel, which is 23 miles from central Washington, D.C., has easy access to major commuter thoroughfares, including Interstate 66, the Fairfax County Parkway and Route 50. 

The 14-story hotel opened in 1989 under the Hyatt flag and has upgraded throughout the years.  It most recently underwent $12.2 million in renovations beginning in 2015 when the borrowers purchased it and executed their repositioning plan.

Drake Greer

  The Hyatt Regency Fairfax features 12,000 square feet of newly renovated, flexible indoor meeting space; an indoor pool that was recently renovated; whirlpool; sundeck; newly renovated 24-hour fitness center; 24-hour business center; and three food and beverage options, The NoVa Grill, NoVa Bar and NoVa Market.

The HFF debt placement team representing the borrower was led by senior director Chris Hew and director Drake Greer.

“The Hyatt Regency Fairfax is a fantastic asset that will continue to thrive and benefit from positive momentum in the submarket,” Hew said.

  

CONTACTS:

CHRIS HEW

HFF Senior Director

(202) 533-2500

chew@hfflp.com

DRAKE GREER           

HFF Director

(202) 533-2500

dgreer@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Web: www.carlyle.com

Videos: www.youtube.com/onecarlyle

Tweets: www.twitter.com/onecarlyle

Podcasts: www.carlyle.com/illuminate-commentary

Lincoln Tops Out at The Grand at Papago Park Center 2 in Tempe, AZ

Rendering of The Grand at Papago Park Center 2, 
1027 West Roosevelt Way, Tempe, AZ

TEMPE, AZ – Lincoln Property Company (LPC) has officially poured the top floor of The Grand at Papago Park Center 2, bringing the building to the “topped out” stage and ushering in its final phase of construction.

Grand 2 is the second of eight planned LPC-built, Class A office buildings at The Grand at Papago Park Center. The company delivered the first office building at The Grand in early 2018. That building is now fully occupied.

LPC joined with project architect DAVIS, general contractor Whiting-Turner and other major subcontractors to commemorate the benchmark.

Doug Klocke

“Grand 2 was designed and constructed by a stellar team, and the final product will reflect that expertise and attention to detail,” said Lincoln Property Company Vice President of Development and Construction Management Doug Klocke. “We look forward to delivering a building that passes on so many benefits to its future tenants.”

Located at 1027 W. Roosevelt Way in Tempe, Arizona – just north of downtown Tempe and only minutes from Sky Harbor International Airport – the 352,000-square-foot Grand 2 sits in a submarket enjoying a historically low, sub-2 percent vacancy rate and a pipeline of companies who are still actively seeking new space.

Mike Davis

When completed in June, Grand 2 will deliver a collaborative office building that truly leads the market, with features such as 12-foot floor-to-ceiling vision glass windows and timeless contemporary furnishings.

 The building’s two-story lobby is accented with natural wood ceilings and joins seamlessly with a 12,000-square-foot, first-floor amenity lounge providing a full-service restaurant, TV viewing area and conference facilities with full AV technology and able to adjust to a range of group sizes.

Jerry Roberts

Tenants at Grand 2 will have access to a private fitness facility with premier Peloton equipment and a rooftop lounge complete with seating areas, an architectural shade element, catering conveniences for corporate events and sweeping views of the Papago Buttes, Hole in the Rock and Camelback Mountain.

“Grand 2 is another of our highly visible and remarkable Valley of the Sun projects,” said DAVIS Founder and CEO Mike Davis.

 “We were inspired by its vibrant location along the Loop 202/Red Mountain Freeway, its proximity to Arizona State University and the energy of Papago Park Center. This office space anchors the mixed-use development and is destined to become a Tempe showcase.”

Patrick Boyle

LPC serves as the property manager for all office space at The Grand at Papago Park Center. Jerry Roberts and Patrick Boyle of Cushman & Wakefield are the project’s exclusive leasing brokers.

Grand 2 is part of 1.8 million square feet of Class A office space being developed by LPC at The Grand at Papago Park Center, a 60-acre mixed-use development that at build out will total 3.2 million square feet of office, multifamily, hotel, retail and restaurant destinations surrounding a dynamic central water feature.

The project has approximately one-half mile of freeway frontage on the Loop 202/Red Mountain Freeway between Priest Road and Center Parkway, on the last developable parcel within the 350-acre Papago Park Center, one of Arizona’s largest business parks.

More about The Grand at Papago Park Center is available at www.thegrandtempeaz.com.

To learn more about Lincoln Property Company, please visit www.lpc.com or www.lpcphx.com.

CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

Keepe partners with Zillow Group to offer On-Demand Maintenance to Landlords and Property Managers in Select Cities

Rishi Mathew

SEATTLE, WA, Mar. 7, 2019 -- Keepe, the on-demand maintenance platform for the rental housing industry, today announced that it has teamed up withZillow Group to offer landlords and property managers an efficient way to source qualified maintenance technicians and streamline the maintenance process for their portfolio of rental properties.

 Keepe’s network of independent on-demand maintenance technicians is now available to Zillow’s customers in five major metropolitan markets including Greater Seattle, San Francisco Bay area, Greater Portland, Greater San Diego and the Phoenix Metropolitan area.

“For landlords and property managers with portfolios of single-family homes and small apartment buildings, sourcing high quality maintenance technicians on an ongoing basis is the number one problem,” said Rishi Mathew, co-founder and CEO, Keepe. 

“With Keepe’s platform, Zillow Rental Manager users can tap into a high quality network of maintenance technicians who are independently licensed and insured, background checked and constantly vetted by Keepe’s customers.”

With Keepe:

• Landlords and Property managers can submit maintenance requests and obtain quick online estimates.
• Keepe automatically schedules with tenants, and automatically dispatches a technician (Keeper) to complete the maintenance request.
• The requester of maintenance request can get notifications when work is scheduled and successfully completed.
• In addition, admins get access to the entire history of maintenance requests thereby allowing them to manage their entire portfolio of rental units more effectively.

Recent industry research has put the spotlight on rental property maintenance as one of the most important aspects of property management.

 In a recent Freddie Mac survey, 82 percent of renters cited “freedom from home maintenance responsibilities” as the main reason for continuing to rent instead of own homes. In a separate 2018 survey by Buildium and the National Association of Residential Property Managers (NARPM), property managers declared maintenance as the top challenge facing their business.

As landlords and property managers realize the importance of streamlining maintenance using technology, they are turning toward software solutions that can bring transparency and efficiency to the process both for themselves, renters and property owners. Keepe’s partnership  with Zillow™ is a major step in this direction. 

Zillow Rental Manager and Zillow are registered trademarks of Zillow Group

About Keepe

Keepe is the on-demand maintenance platform for the rental housing industry. Keepe’s network of independent maintenance technicians are available seven days a week and in five metropolitan markets - Seattle, San Francisco, Portland, San Diego and Phoenix. Live since 2016, Keepe is headquartered in Seattle.

CONTACTS:

Steve Stratz

for Keepe

O: 206.453.4180     M: 206.300.9134

steve@relevanzpr.com

www.keepe.com.

HFF announces $9 million sale of dominant Atlanta-area neighborhood shopping center

                                                                 

Lovejoy Village Shopping Center, Jonesboro, GA

               

Jim Hamilton

ATLANTA, GA –- Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $9.125 million sale of Lovejoy Village, an 84,711-square-foot, dominant neighborhood shopping center anchored by Kroger in the Atlanta-area community of Jonesboro, Georgia. 

The HFF team marketed the property on behalf of the seller, Phillips Edison & Company, Inc. (“PECO”).  Glen Una Properties, Inc. purchased the asset.

Lovejoy Village was constructed in 2001 and is currently the only neighborhood center within a three-mile radius. 

The 98-percent-leased shopping center is anchored by the No. 1 grocer in Georgia, Kroger, which includes its own fuel station, providing long-term income security for the owner. 

Brad Buchanan

 It is home to a variety of national and regional tenants, including the Kroger anchor and Kroger Fuel station, Workout Anytime, Marco’s Pizza, Jersey Mike’s Subs and Young Smiles Dentistry. 

 The property is situated on 10.4 acres on the “going home” side of U.S. Highway 41, which has more than 51,000 vehicles pass by the property each day and is in the submarket’s main retail node. 

Lovejoy Village is proximate to Atlanta’s primary economic driver, Hartsfield-Jackson International Airport, and is strategically located only 22 miles south of downtown Atlanta in a healthy submarket consisting of nearly 1.2 million square feet of retail that is 95 percent leased within a three-mile radius.

Michael Allison

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Mike Allison and analyst Andrew Kahn.

Phillips Edison & Company, Inc. (“PECO”), an internally-managed REIT, is one of the nation’s largest owners and operators of grocery-anchored shopping centers.  PECO’s diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.  

Andrew Kahn

Through its vertically-integrated operating platform, the company manages a portfolio of 339 shopping centers, including 304 wholly-owned centers comprising approximately 34.4 million square feet across 32 states (as of November 16, 2018).  

PECO has generated strong operating results over its 27+ year history and has partnered with leading institutional commercial real estate investors including TPG Real Estate and the Northwestern Mutual Life Insurance Company. 

The company remains exclusively focused on creating great grocery-anchored shopping experiences and improving the communities it serves one center at a time.

CONTACTS:

JIM HAMILTON

GA Lic. #270038

HFF Senior Managing Director

(404) 832-8460

jhamilton@hfflp.com

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

Berger Commercial Realty Leases 19,263 SF to Two State Agencies at Lauderdale Marketplace

  

Joseph Byrnes

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International Senior Vice President Joseph Byrnes recently completed two new lease transactions totaling 19,263 square-feet of retail space at Lauderdale Marketplace in Lauderdale Lakes. The transactions brought occupancy of the 262,000-square-foot retail property to 90 percent.

Byrnes represented Marketplace Plaza, LLC in leasing 13,263 square-feet to the Florida Department of Corrections at 3708 W. Oakland Park Blvd. and 6,000 square-feet to the Florida Department of Children and Families at 3752 W. Oakland Park Blvd.

“These deals are a testament to Joe’s expertise and proficiency in this market,” said Berger Commercial Realty President Lloyd Berger. “He also has consistently delivered on his promise of maintaining stability at this property, attracting sizeable tenants and securing valuable long-terms leases.”

Lloyd C. Berger

In 2016, Berger and Byrnes represented Austin Forman and William Murphy of Lauderdale Marketplace Investments, LLC in the $27 million sale of Lauderdale Marketplace. Following the closing, Berger Commercial Realty was retained by the new owner to manage and lease the property.

For more information about Berger Commercial Realty’s brokerage services, call 954-358-0900.

Contacts:

954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

www.corfac.com.

www.bergercommercial.com.