Completion of $5.3 Million Investment Sale and Leaseback Achieves the New Home of Tommy’s Florida Boat Dealership in Clermont

Tommy's Florida boat dealership building, 16212 State Road 50,  Clermont, FL

Matt Cichocki 

CLERMONT, FL --  NAI Realvest, based in Orlando and one of the leading providers of real estate services in Florida,  recently closed on the NNN investment sale of a 14,518 square foot boat dealership building on a five-acre tract at 16212 SR 50 in Clermont. 

Scottsdale, AZ-based STORE Master Funding XVIII, LLC, purchased the property for $5.3 Million with a long-term lease in place to the seller, Bear Creek Bridge , LLC of Grand Rapids , MI d/b/a Tommy’s Florida.

While still under their ownership, Tommy’s developed the property for their own use and the boat dealership relocated from a former site in Clermont. 

Tommy’s now employs a staff of 20 at the new location which provides for growth and a few more jobs are projected within the next year. A grand opening was recently held at the newly built facility. 

Kevin O’Connor 

NAI Realvest Principals Matt Cichocki and Kevin O’Connor negotiated the sale / leaseback on behalf of the seller and Geoffrey Faulkner of NNNet Advisors represented the buyer in the transaction.

Tommy’s focuses on sales and rentals of new and pre-owned boats primarily for water sports and currently has four other locations in Michigan and Colorado. 

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. 

Geoffrey Faulkner 

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.  

 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 or 407-461-3781  beth@larryvershel.com

 www.NAIRealvest.com.

Fast-Growing UK Firm Buys Large Downtown Orlando Office Space for $2.19 Million

Jacyn Heavens

ORLANDO , Fla. – Epos Now, a U.K. based provider of Point of Sale systems and software has purchased nearly half of the 20^th floor in the south tower of The Plaza at 189 S. Orange Ave. for its U.S. headquarters.

The Plaza complex, 189 South Orange Avenue, Downtown Orlando, FL

The leading POS software designer focused on the retail and hospitality industries, closed earlier this week on the 9,104 square foot Class A office comprising three suites for $2,189,952.00 to expand its operations in the U.S.   

“Our USA expansion has been a great success," said Jacyn Heavens, founder of Epos Now.

John Kurtz

 "Our mission is to supply the technology sorely needed by bricks and mortar to level the playing field and thrive. With over 5,000 USA locations to support, we are now firmly setting roots and fully investing in Orlando. 

"This means we can give our team members an environment they can be proud of and show our commitment to their personal and professional development. We are here to support the local community and add value in any way we can.”

Heavens added, “Currently, we have 46 employees already in Orlando and we’re looking to double that in 2019-2020 to over 100, creating over 50 tech jobs in Orlando.   Globally we’re looking at taking this number to 400+ over the same period.” 

Roger Soderstrom Jr.

The Stirling International Real Estate team of John Kurtz, CCIM and Roger Soderstrom, Jr., negotiated the sale on behalf of the seller, RSC Plaza Office Condos, LLC, part of Denver-based Real Capital Solutions.

Epos Now received financing through Adrian Nuño with BBVA’s corporate banking team in downtown Orlando at 111 N. Magnolia Ave.

“The Plaza offers a unique opportunity in Downtown Orlando’s CBD to purchase class A office space well below replacement costs,” Kurtz said.  “Smart companies are taking advantage of today’s low mortgage rates and the significant business advantages of owning their own office space.” 

CONTACTS:

Beth Payan, Larry Vershel Communications Inc. 

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

Roger Soderstrom, Jr., Broker, Stirling International Real Estate 27 N. Summerlin Ave. Orlando, FL 32801; 407-250-1000 roger@stirlingire.com

John Kurtz, Broker, Stirling International Real Estate, JKurtz@StirlingIRE.com (407) 250-1000

           

JLL closes $143 million sale of 50-property investment grade portfolio

Mindy Berman

BOSTON, MA – JLL announced it has closed the $142.9 million sale of a 50-property national investment-grade portfolio totaling approximately 430,000 square feet across 22 states.

JLL represented the seller, Elliott Bay Capital Trust, and procured the buyer, a publicly traded REIT.

Peter Bauman

The sale of the Elliott Bay Dialysis Portfolio is a multi-state portfolio containing single tenant dialysis clinics leased to the two largest U.S. dialysis providers, Fresenius Medical Care and DaVita. 

The net lease properties are 100 percent occupied and backed by investment grade credit or New York Stock Exchange public companies. 

Well located across 22 states in desirable major U.S. metro areas, the properties have mission critical infrastructure providing life sustaining dialysis treatment. 

The significant investment in the fit out at these locations and arduous Medicare certification and state licensing creates high retention rates and long-term, inelastic tenancy – one of the main drivers for dialysis clinic investment. 

Dialysis remains a fundamental and non-discretionary segment of healthcare services that has a long-term trajectory of growth and profitability regardless of the macroeconomic environment. 

Tivon Moffitt 

This sale is the result of a highly collaborative effort between JLL’s Healthcare, Corporate Finance and Net Lease verticals. 

The broader team construct is the backbone of the JLL Capital Markets business and is illustrated by putting the best team on the field to execute for the client. 

The most basic and obvious opportunity to add value to clients is to bring intelligence from multiple businesses in an effort to offer creative and best in class transactions. 

The team was led by Managing Director Mindy Berman, Senior Vice Presidents Peter Bauman and Tivon Moffitt and Vice President Brannan Knott.

Knott, from JLL Capital Markets, Healthcare, described the portfolio as, “a rare, highly durable income portfolio, tenanted by the nation’s leading dialysis providers. 

This is the exact investment profile attracting many investors into this sector and is supported by macro demographic trends of the nation’s aging baby-boomers and increased incidence of end-stage renal disease driving significant increases in dialysis demand for the foreseeable future.”

Brannan Knott

“JLL sees no slowdown in demand for medical office investments,” Berman added. “We’ve seen consistent annual sales of $9 to $10 billion in the medical office sector and 2019 should be on pace with recent years.”

“Due to the portfolio mix of investment-grade and high-quality dialysis clinics, JLL was able to achieve excellent pricing for the seller with an accelerated closing time period,” Bauman said.

“Single-tenant medical properties and portfolios remain in high demand across various capital sources,” Moffitt added.

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

  

Contact: 

Kristen Murphy, JLL Director, Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

elliottbaycap.com

jll.com.

KW Property Management & Consulting Bolsters Tampa Team with Addition of Kevin Ellis

Kevin Ellis

 MIAMI, FL  –– KW Property Management & Consulting, one of the residential property management industry’s premier companies, announces the addition of Kevin Ellis as Business Development Manager. 

Based in KWPMC’s Tampa office, Ellis focuses on the Tampa-St. Petersburg-Clearwater region.

Ellis comes to KWPMC with more than a decade of experience in the property/casualty insurance and emergency communications industries, working with many condominium, multifamily and homeowners association (HOA) clients.

 He most recently served as Regional Business Development Manager with Drum Cussac Group, a global business risk, security and crisis management firm.

Alan Ramsay

“We are thrilled to welcome Kevin Ellis to our expanding team of dedicated professionals in the Tampa area,” said Alan Ramsay, Vice President for the Tampa region. 

“KWPMC is particularly bullish in this region, which continues to experience tremendous development and employment growth.

"We are well-positioned to accommodate the demand for unparalleled residential property management service in the area.”

Ellis earned a bachelor’s degree from Florida State University. He maintains an active General Lines Property and Casualty Agent License from the State of Florida.

 CONTACT:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.kwpmc.com.

JLL closes record-setting $191 million sale of Inland Empire distribution center in Rancho Cucamonga, CA

Sharon Wortmann

LOS ANGELES, CA – JLL announced it has closed the $191.11 million sale and arranged $200 million in financing for Fourth Street Distribution Center, 1.43-million-square-foot distribution center/fulfillment center and a 23,240-square-foot retail building in Rancho Cucamonga, California. 

The sale set a record as the largest non-portfolio sale in the Inland Empire.

Mark Detmer 

JLL marketed the property on behalf of the seller, West Coast Liquidators, Inc. Bridge Development Partners purchased the asset.

 Additionally, working on behalf of the new owner, JLL placed the three-year, floating-rate bridge loan with an institutional advisor. JLL also was awarded the leasing assignment for the property.

Fourth Street Distribution Center was originally developed in 1984. The property is in Rancho Cucamonga, which provides access to the growing Southern California population of more than 25 million people. 

The property is situated on 91.39 acres at 12434 Fourth Street in the Inland Empire West (IEW) Industrial submarket, an infill market that is one of the most active in the U.S., and within a 60-mile radius of more than 17.1 million people. 

Bo Mills

The IEW submarket boasts exceptional access to all points throughout the Los Angeles basin and the greater Southwestern U.S. via its expansive transportation network, which continues to drive logistics demand. 

Additionally, Fourth Street Distribution Center is within 61 miles of both the Ports of Los Angeles and Long Beach, the nation’s largest and busiest container port complex where 40% of cargo from overseas enters the United States, is 16 miles from the San Bernardino B.N.S.F Intermodal Yard and proximate to three airports.

The JLL Capital Markets team representing the seller was led by Executive Managing Directors Mark Detmer and Bo Mills, Senior Vice Presidents Ryan Sitov and Sharon Wortmann, Managing Director Mike McCrary and International Director - Industrial Services Peter McWilliams.

Ryan Sitov 

The JLL Capital Markets debt placement team representing the new owner included Senior Director Brian Torp, Executive Managing Director Kevin MacKenzie and Managing Director Brian Halpern.

“With a 2.3% vacancy and only 10.9 million square feet of space under construction in the Inland Empire West, the submarket is poised for another robust year of absorption and continued rising rents,” said McWilliams, who leads the team now representing Bridge Development Partners in the leasing assignment. 

“Further, the IEW submarket fundamentals are exceptionally strong with user demand outstripping availabilities in the one million-square-foot large box segment. The project is ideally positioned to capture this demand given the central location and features users are seeking in today’s market.”

Mike McCrary 

According to a recent JLL Industrial Insight Report on the Inland Empire, total net absorption is again paced to exceed 20 million square feet by year-end 2019, and developers are racing to clear planning and construction hurdles to meet ongoing demand.

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. 

Kevin MacKenzie

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.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.                    

About Bridge Development Partners

BRIDGE is in the business of providing opportunistic and value add returns to our investors and partners. 

The firm accomplishes this through identifying and executing industrial development and value-add acquisitions in the supply-constrained U.S. core industrial markets.

 BRIDGE’s people embrace complexity and execute with creativity and certainty. The results of their expertise and efforts are exceptional investor returns on irreplaceable industrial assets. 

Contacts: 

Mark Detmer, SIOR, CCIM

California License #:  02001329

Phone: +1 213 239 6377

Email: mark.detmer@am.jll.com

Peter McWilliams

California License #:  #00973278

Phone: +1 909 467 6860

Email:  peter.mcwilliams@am.jll.com

 Kimberly Steele

JLL Digital Content/PR Specialist

Phone: +1 713 852 3420

Email: kimberly.steele@am.jll.com

jll.com.
bridgedev.com

Hospitality Ventures Management Group (HVMG) Names Tom Riley Senior Vice-President of Business Development

Tom Riley

ATLANTA, GA —Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced that Tom Riley has been named senior vice-president of business development.  

Reporting to Executive Vice-President & Chief Development Officer Mary Beth Cutshall , he will help grow and develop HVMG’s acquisitions, third-party management and new development efforts.

“With nearly 30 years of hospitality experience, Tom has spent his entire career in the industry, starting in a South Florida resort before working his way up to a series of impressive, corporate-level development positions with some of the biggest names in the industry,” Cutshall said. 

 “This invaluable experience at all levels of property and corporate management provide him with keen insights that make him an ideal candidate to help HVMG grow its portfolio of owned and operated hotels across the U.S.”

            

Prior to joining HVMG, Riley was vice-president of development for Kimpton Hotels & Restaurants, where he was responsible for the addition of over 30 new hotel and resort projects.  

Mary Beth Cutshall

Previously, he held the position of senior vice-president of development for Marcus Hotels & Resorts, where he oversaw the company’s development efforts.  

He also held numerous financial related positions, including regional vice-president of finance for Kimpton, senior manager of financial analysis for Crestline Hotels & Resorts and similar positions with Marriott International and Hilton Worldwide/Promus Hotel Corporation.  

He received his undergraduate degree from Penn State University and his Master of Business Administration degree from Palm Beach Atlantic University.  

Riley is an active board member of the Penn State Hotel & Restaurant Society, The George Washington University’s Department of Tourism and Hospitality Management and Anne Arundel Community College School of Hospitality.   He also serves on the Council of Advisors for Jubilee Support Alliance in Washington, D.C.

          

  “I’m looking forward to utilizing my abilities and relationships to form strategic alliances and negotiate partnerships to help significantly grow the HVMG hotel portfolio,” Riley said. 

 “The company has an outstanding reputation and has been expanding its infrastructure to accommodate recent and anticipated future growth.  HVMG, with its emphasis on personal and professional evolution, is an ideal company for me to use and expand my own talents.”

 CONTACT:

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com

www.hvmg.com