Plaza Advisors Brokers Sale of Market at Southside, in Orlando, FL

Market at Southside,
a  95,057 square foot retail plaza two miles
  south of downtown Orlando's Central Business
 District and the city's medical corridor

  

TAMPA, FL -- Plaza Advisors is pleased to announce the sale of the
Market at Southside. The 95,057 square foot retail plaza is strategically located in an affluent trade area two miles south of downtown Orlando's Central Business District and the city's medical corridor.

 Market at Southside was 87% occupied and is situated at the trade areas primary intersection (66,000 traffic count).

 The asset is flanked by two shadow grocers; Publix and Walmart Neighborhood Market and includes four major tenants; Ross Dress for Less, K&G Fashion Superstore, Pet Supermarket and Dollar Tree.

 SPF Market at Southside, LLC was the seller of the asset. SB Southside, LLC acquired the center.

 

Jim Michalak 

Jim Michalak of Plaza Advisors represented the seller and was the only broker involved in the transaction.

 “Demand for Florida retail product is unprecedented. Supply and demand factors are unbalanced resulting in premium pricing” noted Michalak.

“This offering was pursued by numerous investors due to the vacancy upside and the potential redevelopment with an attractive zoning, which allows a dense FAR and the potential to include mid-rise multi-family product”

 

CONTACT:

 Jim Michalak

Managing Partner

Plaza Advisors

www.plazadvisors.com

 

3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 1

Fax 831.2627

jim.michalak@plazadvisors.com

Stos Partners Expands its Multifamily Holdings with Acquisition of Third Apartment Community in Southern California

    Lincoln Washington Apartments

 SAN DIEGO, CA – Stos Partners, one of the most active commercial real estate investment and management firms in Southern California, recently acquired

Benn Vogelsang

Lincoln Washington Apartments, a 25-unit multifamily property in the El Cajon submarket of San Diego County.

 Purchased for $6 million, the property is located at 685 S. Lincoln Avenue in El Cajon, California.

 Benn Vogelsang of South Coast Commercial represented Stos Partners as the buyer in the transaction. Acquisition financing was provided by C3 Bank

 This off-market transaction is part of a strategic expansion of the firm’s multifamily investment portfolio, according to CJ Stos, Principal of Stos Partner.

 

CJ Stos

“This property aligns perfectly with our investment strategy through which we acquire, reposition, and operate well-located properties that are poised to deliver long-term value,” says Stos.

“We plan to perform a full rehabilitation of the asset including exterior and interior renovations, as well as develop an additional 26^th unit at the community, a value-add component that we’ve successfully completed at a previous project.”

 In Stos Partners’ effort to strategically grow its multifamily holdings and acquisitions platform, the team recently brought on seasoned multifamily investment professional Sean Giffin as Vice President of Multifamily Acquisitions, who leveraged his deep experience and connections to secure this asset off market.

Sean Giffin

 “This property presents an excellent opportunity for value creation, as well as a very flexible hold strategy,” says Giffin.

 “While we are expecting to hold this property long-term for cash flow, our nimble positioning gives us the option to exit sooner if needed, depending on market conditions.

 "I look forward to continuing to grow with Stos Partners and identifying more communities that dovetail well with their proven strategy and market expertise.”

 Jay Boyle, Executive Vice President of Stos Partners, adds that this past year, demand in the multifamily market has far outpaced supply, specifically in El Cajon, which has a strong apartment rental market with low vacancies.

 

 Jay Boyle

“El Cajon has seen a steady increase in population, growing at 4.55% from 2017 to 2021, making it a desirable place to invest and capitalize on organic growth,” explains Boyle.

 “We will continue to seek out well-located communities within high-growth submarkets in areas like San Diego, which attract residents based on strong job markets and high quality of life.”

 

CONTACTS:

Tess Hezlep / Katie Haga

The Smart Agency, Inc.

(949) 438-6262

thezlep@thesmartagency.com 

 www.stospartners.com.

 

M/I Homes Begins Development of 50 Acres for Upmarket Red Ember Estates Project in Oviedo, FL

Brookhaven model at M/I Homes
 Development of 50 Acres for
 Upmarket Red Ember Estates 
Community in Oviedo, FL

 OVIEDO, FL  – Land development has begun on M/I Homes’ Red Ember Estates, a gated community on Red Ember Road , near Lockwood Boulevard and Old Lockwood Road .

The company – which closed on the 50-acre development in October – now is preparing the land for 95 single-family homes that will range from 2,400 to 4,800 square feet, according to David Byrnes, area president for M/I Homes.

Construction on the first model – the 3,200 square-foot Brookhaven – is scheduled to begin in June and should be ready for touring in September, Byrnes said.

David Byrnes

During the early stages of construction at Red Ember Estates, Byrnes said prospective home buyers can view similar models at the company’s nearby Hideaway Cove community.

Prices for the three- to five-bedroom homes, which will be near Hagerty High School , are expected to start in the $600,000s.

CONTACTS:

  David Byrnes, Area President for M/I Homes, 407-531-5100 

  Beth Payan, Larry Vershel Communications, 

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

Hold-Thyssen Assists Global Design Firm in Relocation of US HQ To Winter Park with Long-Term Lease

Darby Hold

WINTER PARK, FL --- Hold-Thyssen, Inc., a full service real estate services firm recently completed a five-year lease agreement with Panaz, USA for relocation of its national headquarters from North Carolina to downtown Winter Park .  

 Christopher Norton

The global designers and manufacturers of high-quality fabrics and wall coverings for the hospitality, healthcare and corporate sectors have leased a 1,331 square foot professional office suite in the New England Building at 230 S. New York Avenue .  

 Hold-Thyssen’s Senior Director
Darby Hold negotiated the lease representing the Landlord, New England Partners LLC.  Christopher Norton with Park Avenue Real Estate represented the tenant in the transaction.   

New England Building, 230 South New York Avenue,
Winter Park, FL 

Other major tenants at the New England Building are Kelly Price and Co. and Bell Bank.  Panaz is a 30-year old firm relocating from North Carolina .

 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:

Anthony Fisher, Vice President, Hold-Thyssen Real Estate Services,

407-691-0505, afisher@HoldThyssen.com

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

407-691-0505, bhold@HoldThyssen.com

 Beth Payan, Larry Vershel Communications Inc. 

407-644-4142

or 407-461-3781 beth@larryvershel.com