Regency Centers Acquires Circle Marina Center in Long Beach, CA

Circle Marina Center, Long Beach, CA

LONG BEACH, CA, Sept. 30, 2019 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ:REG), the preeminent national owner, operator, and developer of shopping centers, has announced the off-market acquisition of 120,000-square feet of premier retail located in the heart of Long Beach, CA known as Circle Marina Center.

 It is currently 95% leased and includes 33,000-square feet of a three-story office building and above-retail office.

John Mehigan

Originally built in 1959, this property sits on the Pacific Coast Highway in a high density submarket in close proximity to three other Regency shopping centers, and has become the fifth property Regency owns in Long Beach.

The surrounding demographics consist of a population of nearly 250,000 with an average home value of $952,000. 

In 2018, Long Beach was home to more than $5 billion in private/public development and over 60 projects are currently in development.

“There is a real opportunity for enhancement at Circle Marina Center,” said John Mehigan, Senior Vice President and Senior Market Officer for Regency Centers.

“Circle Marina is surrounded by great demographics and a substantial amount of new development that has been occurring in the market over the last ten years.

"Our objective is to take full advantage of Circle Marina’s location and bring the best face forward for the future. Long Beach is a special city, we love doing business here, and look forward to building on our presence in this thriving city.”

Regency Centers is the owner and operator of Circle Center West, Marina Shores, Ralphs Circle Center, and Vons Circle Center.

CONTACT:

John Mehigan
Senior Vice President, Senior Market Officer
213-553-2273
JohnMehigan@RegencyCenters.com

regencycenters.com

JLL closes sale of 4-building industrial park and wins leasing and management assignment in Winter Garden, FL

Winter Garden Commerce Center, situated on 9.67 acres at 661, 671, 681 and 691 Garden Commerce Parkway, Winter Garden, FL

Bret Felberg 

ORLANDO, FL – JLL announced it has closed the sale of Winter Garden Commerce Center, a recently completed, Class A, four-building, multi-tenant industrial park that totals 140,929 square feet in the Orlando-area community of Winter Garden Florida, and has been selected as the exclusive leasing partner and property manager provider.

JLL marketed the property on behalf of the seller, WGCC Properties, LLC. A leading global investment firm purchased the asset for a record-setting price per square foot for an industrial sale in Orlando.

Britton Burdette

Winter Garden Commerce Center was constructed in 2018 and features 20- to 24-foot clear heights, 36 dock-high doors, 36 grade-level doors, four ramps, a 140-foot shared truck court and averages a 16.1% office finish. 

With an average suite size of 7,600 square feet, the property is 94.9% leased to 15 local, regional and national tenants. Situated on 9.67 acres at 661, 671, 681 and 691 Garden Commerce Parkway, 

Winter Garden Commerce Center is 15 miles west of downtown Orlando and within the NW Orange County Industrial submarket, one of Orlando’s tightest and most sought-after industrial submarkets. 

Within a three-mile radius of the property, there are approximately five million square feet of industrial and light industrial product currently 0.8% vacant. 

Wilson McDowell

The property has easy access to both the Florida Turnpike and Florida 429 (Western Beltway), and its central Florida location allows tenants to reach more than 19 million customers within a four-hour drive and more than 33 million customers within an eight-hour drive.

The JLL Capital Markets team that represented the seller was led by Senior Vice President Bret Felberg and Managing Directors Britton Burdette and Pete Pittroff.

“This sale is indicative of the high level of demand by institutional investors to place capital in quality industrial assets in strong markets like Orlando,” Pittroff said.

Matthew Sullivan

The JLL Leasing and Property Management team will include Managing Directors Wilson McDowell and Matthew Sullivan and Senior Vice President Bobby Isola.

“We are excited about growing our relationship with this buyer by continuing to manage and lease WGCC for them,” McDowell added.

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

Bobby Isola

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.

JLL’s more than 400 Agency Leasing professionals in the U.S. provide leasing services for some of the world’s largest companies across a portfolio of more than 3,200 buildings totaling 550 million square feet. 

In 2018 alone, JLL completed more than 4,300 transactions totaling $16.3 billion dollars in lease value.

 Pete Pittroff

JLL’s 3,000 Property Management experts in the U.S. provide comprehensive real estate services in more than 3,100 buildings totaling more than 620 million square feet.

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

Contact: 

Kimberly Steele
 JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email: kimberly.steele@am.jll.com

jll.com

Fogelman Completes $83 Million in September Acquisitions

Mike Aiken

  

MEMPHIS, TN -- Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of two communities: Lakeside at Arbor Place, located in the west metropolitan Atlanta suburb of Douglasville, Ga., and Retreat at Steeplechase, located in Houston, Texas.

Built in two phases in 1988 and 1996, Lakeside at Arbor Place is a 246-unit apartment community located in Atlanta’s most active commercial and logistics hub within minutes from downtown, Cumberland-Vinings and Hartsfield-Jackson International Airport.

Lakeside at Arbor Place apartments, Douglasville, GA

 The community is 96% occupied and offers one, two, and three-bedroom apartment homes.

 Lakeside at Arbor Place will be managed by Fogelman with rental rates ranging from $904 to $1,385. The community is expected to receive full renovations to unit interiors, the clubhouse and the fitness center, in addition to landscape upgrades.

  Lakeside at Arbor Place was acquired in a joint venture with Fogelman and Dallas-based company, Thackeray Partners.

The closing marks the third acquisition for the Fogelman-Thackeray partnership in the last year and grows Fogelman’s Atlanta portfolio to more than 4,700 units.  

Built in 1998, Retreat at Steeplechase is a 390-unit resort-style apartment community located in northwest Houston and minutes from FM 1960, Willowbrook Mall and the West Houston Energy Corridor.

Retreat at Steeplechase, Houston, TX

The community is 94% occupied and offers one, two, and three-bedroom apartment homes. Retreat at Steeplechase will also be managed by Fogelman.

As part of the investment plan, Retreat at Steeplechase will receive upgrades to the unit interiors, exteriors, clubhouse and pool area.

Fogelman acquired Retreat at Steeplechase through a joint venture with New York-based company, DRA Advisors. The closing marks the third acquisition for the Fogelman-DRA Advisors partnership in the last year and grows Fogelman’s Houston portfolio to more than 1,300 units.  

With the September closings, Fogelman’s 2019 investment activity surpassed 2,000 apartment homes totaling more than $267 million in investment activity.      

“We are thrilled to add both Lakeside at Arbor Place and Retreat at Steeplechase to our growing portfolios with Thackeray and DRA Advisors,” says Mike Aiken, VP of Acquisition at Fogelman.

 “Both communities are located in prime submarkets with strong economic outlooks and excellent access to sought-after school systems and nearby employment corridors.

"As active investors and experienced property managers, we look forward to the continued relationship expansion with two long-time partners.”

CONTACT:

Brittanie Clement Price, BCENE Public Relations

bclement@bcenepr.com 703.967.4771

www.fogelman.com 

Facebook, Twitter and Instagram.

Hold-Thyssen Locates New Pasco County, FL Location for Klima Insurance Expansion

Carol L. Kinnard

Trinity, FL  --- Hold-Thyssen, Inc., a full service commercial property firm based in Winter Park , with offices in Clearwater , recently negotiated a multi-year lease agreement representing a new tenant – Klima Insurance Services, Inc – at Trinity Professional Park .    

 The lease of Suite 102 with 1,935 square feet at 2160 Duck Slough Blvd. will be the new office of the growing insurance firm when it relocates from Tampa in October. 

2160 Duck Slough Boulevard offices located in Trinity Professional Park, Trinity, FL

Carol L. Kinnard, Transaction Specialist in Hold-Thyssen’s Clearwater office, brokered the transaction once she identified the site that will provide ample space for growth and reduce employee commuting times.   Martin Trinity Investments, LLC is the landlord. 

  

 Hold-Thyssen based in Winter Park with offices in Clearwater , 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 than 100 commercial properties throughout the United States .

CONTACTS: 

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

727-238-2876; Rfisher@HoldThyssen.com

 Robert P. Hold, Principal, Hold-Thyssen, Inc.

407-691-0505, bhold@HoldThyssen.com

Beth Payan, Larry Vershel Communications Inc.

 407-644-4142 beth@larryvershel.com  

Marcus & Millichap Arranges $2 Million Sale of Tampa, FL Office Property

   

Jaclyn Blair

TAMPA, 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 2902 North Armenia Avenue, a 14,221-square foot office property located in Tampa, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $2,100,000.

Jaclyn Blair and Devin Guilliams, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a developer.  The buyer, a partnership, was also secured and represented by the two brokers.

Devin Guilliams

“We were able to generate multiple offers on this deal in short amount of time, creating a competitive environment which benefited Seller,"  said Blair. "The property was placed under contract in 21 days and closed 60 days thereafter at an 8.00% cap rate which is 100-125 basis points lower than what we are seeing in this market so far this year,” 

Located at 2902 N Armenia Avenue, the office building is located in the heart of Tampa, Fla. 

 2902 North Armenia Avenue Office Property, Tampa, FL

 The property was built in 2011 in conjunction with a neighboring property, Mary Lee's House, a 30,000 square foot office building and Hillsborough County's first and only Child Advocacy and Protection Center. 

The tenants in the subject property strategically located there to provide similar and complimentary services to the neighboring property and the local community. 

The property has a history of long-term high occupancy and the current tenants are the original tenants who have grown and renewed since their original tenancies began.

Contact: 

Chris Travis

Sales Manager, Tampa

(813) 387-4700