DWNTWN Realty Advisors' Tony Arellano and Devlin Marinoff close $6.5 million Development Site transaction in Miami’s Design District

 

 Tony Arellano 

MIAMI, FL – DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano and Devlin Marinoff closed another high-profile transaction in Miami’s Design District, a neighborhood the power brokers have played a pivotal role in shaping over the years.

In the newly completed deal, prominent Australian furniture designer Harbour Outdoor paid $6.5 million for a site that will eventually be the home of a flagship showroom.

 Devlin Marinoff

The sale of the 170 NE 38th St. property closed on Aug. 20. The site includes an existing 3,224-square-foot retail building and is zoned for development of up to 20 stories.

Arellano and Marinoff were exclusively retained to market the site for sale.

Aaron Labovitz and Brandon Lumish, principals of Miami-based ABL Real Estate Partners, and Miami Beach-based Joyce Gato of Douglas Elliman Real Estate represented the buyer in the transaction.

This sale is the 22nd transaction totaling more than $205 million completed by Arellano and Marinoff in the district’s four-block pedestrian core over the last seven years.

Joyce Gato

These sales represent most of the district transactions not involving Dacra’s assemblage, filling the gaps around the district’s core and making DWNTWN the neighborhood’s market leaders.

Joe Fernandez

 “This transaction is the culmination of a creative global marketing process to identify the right buyer,” Arellano said. “Harbour Outdoor is a perfect addition to the luxurious and distinct retailers that give the Design District its identity and appeal.”

 DWNTWN is a market leader in the Design District. Arellano and the firm’s Joe Fernandez are leasing up Design 41, a luxury retail building with 44,029 square feet of office, retail and showroom space at 112 NE 41st St.

 Arellano and Marinoff are also marketing a retail building for sale at 3740 NE Second Ave. The property is in an Opportunity Zone and has future development potential.

Aaron Labovitz 

Founded in 1976 by the Condos family, Harbour crafts hand-made furniture in the family’s Sydney workshop.

 Brothers Harrison and Nicholas Condos expanded the company to include an export arm: Harbour Outdoor. Using Australia’s modern beach houses that blend into the rugged coastline as inspiration, the designers fuse traditional and modern elements into their designs.

 The Design District site fronts I-195 and has I-95 exposure. It is directly adjacent to more than 1,000 parking spaces.

 “This asset truly has unmatched access and highway visibility,” Marinoff said. “The arrival of Harbour Outdoor underscores how the Design District keeps evolving and expanding.

Brandon Lumish

"The continued migration from high-tax states to Miami is fueling the growth of the district and nearby urban core neighborhoods.”

 For more information on DWNTWN’s investment sales and lease offerings, please visit

 www.dwntwnrealtyadvisors.com/inventory.

 visit www.dwntwnrealtyadvisors.com.

CONTACT: 

 

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

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Levin Johnston Announces 11 Multifamily Investments in Six Cities Totaling over $33 Million

 Adam Levin

  BAY AREA, CA– Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has announced the successful completion of 11 multifamily transactions comprising over 80 units, totaling over $33.3 million in the Bay Area of California as employers and educational institutions in the area resume new hybrid schedules.

 “Levin Johnston specializes in identifying the best performing multifamily markets and assets in California on behalf of our clients,” says Adam Levin, Executive Managing Director of Levin Johnston.

  “Our depth of knowledge in this region enables us to offer our clients a vast understanding of macro and micro trends, helping them to secure properties that will deliver stable returns for years to come.”

Robert Johnston

 

Levin notes that recent employment gains have greatly increased the demand for multifamily properties, as tech employers in the Bay Area increasingly offer remote or partially remote jobs to retain and attract workers.

With employment rates steadily increasing, national multifamily vacancy rates decreased 3.8% in the second quarter, strengthening demand throughout this product type.

 “We are fortunate to specialize in an area that has long benefited from a thriving workforce, driven by major employers such as Twitter, Zoom, Adobe, Netflix, and Brocade Communications, among many others,” added Robert Johnston, Senior Managing Director of Levin Johnston.

 “As local workers adjust to new home and office schedules, multifamily demand is positioned to continue its rapid rise. "

 We seek further value for our clients by identifying properties in close proximity to colleges and universities, which will benefit from long-term student demand.”

CONTACTS:

Arleeny Escarcega / Jenn Quader

Brower Group

(949) 438-6262

aescarcega@brower-group.com

 levinjohnston.com.

 

Everwood Hospitality Partners Names Tracy Kundey Managing Director of Hospitality

 

 Tracy Kundey

CHARLOTTE, NC —Officials of Everwood Hospitality Partners (EHP), a leading hotel owner/operator with a growing portfolio of lifestyle, full- and select-service hotels nationwide, announced the company has named Tracy Kundey managing director of hospitality. 

In this new role, he will be responsible for developing and executing EHP’s business strategies as they relate to asset maximization.

“Tracy has honed a well-balanced leadership style through his years in both the public and private hospitality sectors,"  said Amit Patel, managing principal and chief operating officer, Everwood Hospitality Partners. 

 

Amit Patel

"He played an integral role in growing smaller, private entities into some of the industry’s largest and most respected public hospitality companies today.

“He has served at virtually all levels in the industry, from night auditor at a small hotel during college through leadership roles at U.S. and international hospitality companies.

 

"We are confident Tracy will help us achieve our growth goals as EHP continues to expand across the country.”

Previously, Kundey was COO/CFO for Chandler Hotels, Inc., where he oversaw daily property and owner interactions, including communications and revenue management contributions. 

CONTACT:

 CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

 

New Lease Gives Oviedo Commerce Center 100 Percent Occupancy

 

Mary Frances West

ORLANDO, FL – Mary Frances West, CCIM, Vice President at NAI Realvest, recently leased the last available space at Oviedo Commerce Center, 2460-2468 West SR 426, Oviedo, Florida. 

 West represents the owner, Oviedo Commerce Center, LLC, of the 4-building, 53,000 SF industrial center, which is now 100% leased.

 Core Concrete Construction Company, LLC signed a new lease for 2462 West SR 426, suite 1034 with 3,200 SF.  Core Concrete specializes in commercial concrete construction, sub-contracting and consulting.

  CONTACTS:

Mary Frances West, CCIM, Vice President, 

NAI Realvest 407-875-9989, mfwest@realvest.com

 Patrick Mahoney, President/CEO, NAI Realvest,

407-875-9989 pmahoney@realvest.com

 elena Gurtovenko 

ygurtovenko@realvest.com

www.nairealvest.com.

JLL Capital Markets closes $4 million sale of 16-unit Infill multi-housing community in Miami’s Little Havana area to private investor

Tecela Little Havana

MIAMI, FL – JLL Capital Markets announced it has closed the $4.1 million sale of Tecela Little Havana, a 16-unit, newly developed, small-scale, urban, infill multi-housing community in the Little Havana neighborhood of Miami, Florida.

 JLL marketed the property on behalf of the seller, Miami-based Tecela. 761 NW 1ST LLC acquired the property.

Jason R. Chandler

Completed in two phases between 2017 and 2019, the design for Tecela Little Havana was inspired by New York brownstones, Boston townhomes and Miami’s culture and style, designed by award-winning Florida architect Jason Chandler, built by general contractor 748 Development with construction loan from First American Bank and leased and managed by Compass.

 The building, which has been featured in Forbes, ARCHITECT Magazine and Miami Herald, houses four townhouses comprising of studio, one- and two-bedroom apartments ranging from 595 to 1,171 square feet. 

Calle Ocho annual music festival

Units feature high ceilings, polished concrete floors, in-unit washer and dryer and a large balcony or private backyard.

Victor Garcia 

 The townhouses were the first to take advantage of a city of Miami zoning change in 2015 tallowing buildings up to 10,000 square feet with no on-site parking. 

Tecela Little Havana set a per-door sale record for a smaller building with no on-site parking as distinguished from larger no-parking buildings.

Located at 761-771 NW 1^st St., the property is within Miami’s Little Havana, a vibrant enclave known for its Latin culture. 

Tecela Little Havana is centrally located with convenient access to Interstate 95 and subsequent linkage to other major thoroughfares and benefits from its proximity to major transportation hubs, including a 15-minute drive to Miami International Airport and the Port of Miami and only a five-minute drive to MiamiCentral Station.

Ted Taylor

 Miami Beach and downtown Coral Gables are a 20-minute drive from the property. Residents can enjoy a short walk to an abundance of shopping, dining and entertainment on SW 8^th Street aka “Calle Ocho”, one of Miami’s most dynamic and historic dining and nightlife corridors.

The JLL Capital Markets investment advisory team representing the seller included Directors Victor Garcia and Ted Taylor, Associate Max La Cava and Analyst Luca Victoria.

 

Max La Cava 

“With most of Little Havana’s multi-housing properties being of an older vintage, this represented a very rare opportunity to acquire a newly built asset within one of Miami’s fastest growing and highly desirable neighborhoods,” Garcia said.

“I am thankful for the investors and the whole team who moved these townhouses from idea to completion to sale, especially for JLL’s adept marketing of the first-in-Miami ‘brownstones’ and walkable urbanism in general,” added Andrew Frey from Tecela.

For more news, videos and research resources on JLL, please visit our newsroom.

Luca Victoria

 About Tecela

Tecela is a real estate development company founded by Andrew Frey on the idea that the best urban neighborhoods – North End, Park Slope, Georgetown, French Quarter, Little Havana, Old San Juan – are made by many local developers building many iterations of dense but small building types like townhouses, rowhouses, and brownstones.

 Andrew Frey

Mr. Frey, a former zoning lawyer and urban planner, is now a Senior Vice President of Development & Construction for AJ Capital Partners.

 

Contact: 

Cierra Lacasse,

 JLL Associate, 

Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 jll.com.