Residences at Dr. King Boulevard Celebrates with a Grand Opening in Miami on Dec. 12

 

Residences at Dr. King Boulevard,
1501 NW 62^nd Street
 (Martin Luther King Boulevard)
 Miami, FL 33147

                                  (Christine King)

MIAMI, FL -- Atlantic Pacific Communities (A|P Communities) and Martin Luther King Economic Development Corporation alongside Miami-Dade County, the City of Miami, the Florida Housing Finance Corporation, Citi Community Capital and Wells Fargo celebrate the grand opening of Residences at Dr. King Boulevard, an affordable housing community in Liberty City.

 

Residences at Dr. King Boulevard features 120 new mixed-income apartments on the north and south sides of Martin Luther King Boulevard in Liberty City.

 

 The fully leased community serves a mix of households with incomes ranging from 30% of Area Median Income all the way up to market rates.

 

ATTENDING:

 

Keon Hardemon

·    Miami-Dade County District 3 Commissioner Keon Hardemon

·    City of Miami Chairwoman and District Five Commissioner Christine King

·    Martin Luther King Economic Development Corporation Executive Director Amina McNeil

·    Atlantic Pacific Communities’ COO Ken Naylor

 

Ken Naylor

WHEN:  Monday, December 12, 2022

                        Ceremony begins at 11 a.m.

 

WHERE:  Residences at Dr. King Boulevard

1501 NW 62^nd St. (Martin Luther King Blvd.), Miami, FL 33147

 

CONTACT:  RSVP to marianna@jwipr.com. Interviews and photos available upon request.

 

Northmarq’s Atlanta office arranges $7.6 million sale of New York Chick-fil-A reflecting a 3.68 percent cap rate

 Maggie Holmes

 

 NEW YORK, NY, Dec. 6, 2022 – Northmarq investment sales brokers Maggie Holmes, Senior Vice President, and Mike Sladich, Managing Director, completed the sale of a freestanding retail property located at East Jericho Turnpike in Huntington, New York.

 

The property totals 4,996 square feet and is leased to Chick-fil-A, one of the largest American fast food restaurant chains.

 

 Holmes represented the seller, a shopping center owner and developer based in Elmsford, New York. A New York-based private family office in a 1031 exchange acquired the asset for $7.6 million reflecting a 3.68 percent cap rate.

Mike Sladich

“While we’ve certainly seen a shift in cap rates across the country this quarter, this sale represents the fact that private investors are still willing to pay a premium for best-in-class tenants in high barrier-to-entry markets.” said Holmes.

 

“With nearly 2.5 acres of prime real estate on Long Island and a 20-year lease, this property will be a generational asset that can justify a cap rate below the 10-year treasury due to the long-term viability and appreciation of the real estate.”

The build-to-suit property is brand new with a double lane drive-thru and is situated on 2.47 acres.

 

Approximately 40 miles east of Manhattan, the town of Huntington is a major source of employment for the New York metropolitan area.

 

The property is ideally positioned as an outparcel to Target and just one mile east of the Walt Whitman Shops, a super-regional shopping center with over 100 stores, including Bloomingdale’s, Macy’s and Saks Fifth Avenue. Other neighboring retailers include CVS Pharmacy, Best Buy, Rite Aid and more.

 

CONTACT

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

  More information on Stan Johnson Company and Four Pillars Capital Markets may be found on their websites.