Wednesday, April 6, 2016

Lincoln Brokers Three Office Leases Totaling Nearly 24,000 Square Feet at One Eleven in Orlando, FL



Austin Stahley
 ORLANDO, FL – Lincoln Property Company Southeast (Lincoln) has brokered three office leases totaling 23,958 square feet at One Eleven in Orlando, Florida. Austin Stahley of Lincoln represented the landlord in the transactions, and Coughlin Commercial represented the tenants. The details of the transactions are below:

·      Houston International Insurance Group, Ltd. (HIIG), an insurance holding company, signed a new 5,569-square-foot lease.

·      Envy Labs, a leading web consultancy based in Orlando, signed a new 4,722-square-foot lease.

·      Huitt-Zollars, an engineering design firm, signed a new 13,667-square-foot lease.

“One Eleven’s occupancy has grown from 75 percent at the end of 2014 to more than 94 percent, proving the health of the downtown Orlando market and the surrounding submarkets,” said Stahley.

“Many of the new tenants are tech companies demonstrating once again that Orlando is right there with other emerging tech cities like Austin and Nashville. It’s a great opportunity to push the envelope and help grow this city.”

One Eleven, Downtown Orlando, FL
One Eleven is a revolutionary mixed-use project in downtown Orlando comprising of a dynamic mix of retail, office and residential with breathtaking views of the skyline and Lake Eola. 

The office tower includes 10,000 square feet of retail space, 150,000 square feet of office space, and 160 apartment units. The 30-story, 162,240-square-foot property is located at 111 North Magnolia Ave. in Orlando.

 For a complete copy of the company’s news release, please contact:

Laura Rispin • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
M: 404-630-0148

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Four-Unit Stroud Apartments in Tampa, FL Sold for $315,000 in Deal Brokered by Marcus & Millichap


Casey Babb
TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Stroud Apartments, a four-unit apartment building located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $315,000.

Shawn Rupp, associate, Luis Baez, senior associate, and Casey Babb, CCIM and vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by the three brokers.

The Stroud Apartments is a four-unit apartment property located within the Class “A” Hyde Park submarket of South Tampa at 2415 West Stroud Avenue. 



Luis Baez
Originally built in 1924, the property consists of two-bedroom/one-bathroom apartments home, which average 850 square feet and feature private entrances, high ceilings, central HVAC and ample parking.

 The units are housed in a two-story, garden apartment building with stucco exteriors and a flat roof. Hyde Park is one of the strongest rental submarkets in the Tampa Bay region and its central location is a haven for young professionals and early families due to its walkability, safety and favorable school districts.

“This was a rare opportunity in Tampa’s strongest submarket to restore a structurally unsound building and highly distressed building into a future high-rent property,” says Rupp.

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
First Vice President / Regional Manager
 Tampa, FL

(813) 387-4700

Marcus & Millichap Brokers $4.96 Million Sale of River Hills Plaza in Valrico, FL


James Medefind
VALRICO, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of River Hills Plaza, a 34,500-square foot shopping center located in Valrico, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $4,962,500.

James Medefind, senior associate, and Armando Rodriguez, associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  

The buyer was a private investor from Canada, and this is the second transaction he has closed with the Tampa office retail agents.

River Hills Plaza is a 34,500-square foot shopping center located at 4325 Lynx Paw Trail in Valrico, Florida, an affluent Tampa suburb located only 25 minutes from downtown Tampa.

Built in 2004, the property was 93 percent occupied at the time of sale by an attractive tenant mix, including well-known local restaurants, attorney services, financial services, doctors and child care. 

Armando Rodriguez
The plaza is ideally located on Lithia-Pinecrest Road at a lighted intersection, halfway between Brandon and the exclusive community of FishHawk Ranch. 

Retail developments and roadway expansion projects, including a brand new Walmart Supercenter just north of River Hills Plaza and plans to expand Lithia-Pinecrest, are indicators of the long-term stability and short-term growth in rental rates for this submarket.

“Over a one-week period, through the marketing platform of the Medefind Retail team, we were able to generate three new offers on the asset, in addition to two previously received offers. 

"By creating a competitive marketplace, the seller was able to receive the strongest offer, with the best terms, that the market could bear,” says Rodriguez. 

“The buyer performed flawlessly throughout the contract period and consistently met the contract deadlines on-time and early on several occasions. This allowed the sale to close nearly one month earlier than the contract required, with financing, because both the seller and buyer were motivated to close early.”

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
First Vice President / Regional Manager
 Tampa, FL
(813) 387-4700



Marcus & Millichap Arranges Sale of 44,793-square foot self-storage facility in Beverly Hills, FL


BEVERLY HILLS, FL -- Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Diamond Self Storage, a 44,793-square foot self-storage facility located in Beverly Hills, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

Michael A. Mele, senior director of the firm’s National Self Storage Group and senior vice president investments, Luke Elliott, senior associate, and Brian Baldwin, associate, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by the three brokers.

Michael A. Mele
Diamond Self Storage is a 44,793 net rentable square foot self-storage facility located at 4239 North Modelwood Drive in Beverly Hills, Florida. The facility consists of a total of 425 units and was constructed in 2002. It is situated on approximately 2.84 acres, and is secured by electronic gate access and recorded video surveillance.

The property is located in Citrus County, along Florida’s Gulf Coast. Citrus County, commonly known as the "Nature Coast", offers a strong business climate paired with an exceptional quality of life due to its low labor costs and affordable living costs.

The property is 4.5 miles southwest of Highway 41 and only two miles northeast of Black Diamond Ranch, which was rated the #1 golf community in Florida by both Golf Week and Florida Golf Magazine.

“Marcus & Millichap was designed to help private clients and the success of the seller in this situation demonstrates this in graphic fashion. Controlling the process from listing to close in just over 90 days, we drove multiple, qualified offers to the seller and ultimately closed with a regional investor outside the traditional buyer pool,” says Elliott.

“Understanding what works on these facilities and having worked in them for years, really give us an edge on explaining to outside capital why they make sense,” added Baldwin.


For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
First Vice President / Regional Manager
 Tampa, FL
(813) 387-4700



Tuesday, April 5, 2016

BKM Capital Partners Acquires Four Light Industrial Business Parks in Phoenix Metro for BKM Industrial Value Fund I


Rose Garden Business Park, Phoenix, AZ

            PHOENIX, AZ – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial, has acquired four industrial business parks encompassing 442,173 square feet in the Phoenix metro area for a total consideration of $34.45 million.

 The firm, which recently announced the final close of its debut institutional fund, BKM Industrial Value Fund I L.P., now has more than $150 million in assets under management.

Brian Malliet
“The ability to source off-market opportunities in the current market is what sets a good fund manager apart,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners, who notes that a recent report by Preqin indicated that finding investment opportunities would be the most difficult challenge for private real estate managers in 2016. 

“We are bucking the trend,” Malliet says.  “As opposed to a slowdown, we are nurturing a growing pipeline of off-market investment opportunities, and have already invested roughly 50 percent of our equity in assets just six weeks after the Fund closed.

“ The off-market acquisition of these four high-quality properties in the dynamic Phoenix market will add deep value to our growing portfolio, and we are eager to demonstrate proven returns in our multi-tenant light industrial product niche.”


BKM Capital Partners’ recently acquired properties include the Rose Garden Business Park, Metro Industrial Center, and 4100 Broadway in Phoenix, as well as the Arizona Corporate Center in Chandler, Arizona.  

With these acquisitions, the firm now has nearly one million square feet under management in the Phoenix market.

BKM acquired the four assets in a portfolio transaction from a private Los Angeles-based owner.  With this portfolio of assets, BKM now boasts 11 assets in the BKM Industrial Value Fund I with four more assets in escrow at roughly $25 million combined.

 For a complete copy of the company’s news release, please contact:

Lexi Astfalk/Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Hotel Expert Robin L. Webb to Present Hotel Lodging Forecast 2016 at Ramada Gateway Hotel in Kissimmee, FL April 14


Robin L. Webb
ORLANDO, FL -- The Hotel Sales Team at NAI Realvest in conjunction with Gulati Law and Ramada Gateway Inn is sponsoring The Hotel Lodging Forecast 2016 and Beyond  Thursday April 14 at the Ramada located at 7470 Irlo Bronson Memorial Hwy (US 192) in Kissimmee.

Veronica Malolos, part of NAI Realvest’s Hotel Sales Team and one of the organizers of the event, said everyone involved in the hotel and hospitality industry is invited for an opportunity to network following Hotel Expert Robin L. Webb’s presentation and forecast on the next chapter for hospitality in Central Florida.  

The agenda will begin at 5:30 p.m. with networking and hors d’oeuvres. Webb’s Hotel Lodging forecast presentation will begin at 6:30 p.m. followed by a panel Q&A presented by Webb and Attorney Sara Gulati.  The presentation will adjourn at 8:30 for more networking.

Educated at Georgia State University in Atlanta, Webb got his start in the hotel industry as Director of Sales at the Royal Coach Inn in Atlanta and soon after as vice president for Olaf Lambert & Co. managing 28 hotels throughout the Southeast.


Webb has also been a principal in a number of hotel investments, has extensive experience opening numerous properties from budget motels to such luxurious hotels as the Sheraton Olympic Villas in Orlando and the Augusta and Birmingham Hiltons.  He also served for 15 years as president of American Hospitality International, Inc.

In addition to receiving the CCIM designation, Webb is both a certified property manager (CPM) and a certified hotel administrator (CHA) with over three decades of operations experience.

Veronica Malolos
Please R.S.V.P. to NAI Realvest by April 11 at vmalolos@realvest.com, or 407-875-9989.   For more information about the event, contact Malolos 407-949-0717.

 For a complete copy of the company’s news release, please contact:


Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

$187 million sale of 100 East Pratt Street in Baltimore, MD closed by HFF


100 East Pratt Street, Inner Harbor Area, Baltimore, MD
WASHINGTON, DC -- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 100 East Pratt Street, a 662,708-square-foot, trophy office tower overlooking Baltimore’s Inner Harbor. 

HFF represented the seller, Columbia Property Trust, in the transaction.  Vision Properties purchased the iconic asset for $187 million.

100 East Pratt Street is the long-time headquarters of global investment management firm T. Rowe Price, which leases 65 percent of the 98.5-percent-leased building.  

Additional key tenants include PriceWaterHouseCoopers, Merrill Lynch and Tydings & Rosenberg.

 Located at the intersection of Pratt and Light Streets, 100 East Pratt Street sits at downtown Baltimore’s “main and main” location close to the amenities of Harborplace and The Gallery in addition to the multitude of other dining and retail options in and around the Inner Harbor and along Pratt Street.  

The sale also included the property’s 932-space parking garage. 

The HFF investment sales team representing the seller was led by Stephen Conley, Jim Meisel, Dek Potts, Andrew Weir and Matt Nicholson.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com



Sale of Hampton Inn in Portsmouth, NH closed by HFF


Hampton Inn Portsmouth Central Hotel, Portsmouth, NH


Denny Meikleham
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the Hampton Inn Portsmouth Central, a 125-room hotel located off the Spaulding Turnpike in Portsmouth, New Hampshire.

HFF marketed the property on behalf of the seller, Mercury Investment Co.

  Giri Hotels purchased the asset for an undisclosed amount, with the acquisition financed by Kennebunk Savings, a full service mutual savings bank with offices in Rockingham and Strafford Counties and throughout Southern York County, Maine. The property is unencumbered by management.

The Hampton Inn Portsmouth Central is located at 99 Durgin Lane, adjacent to and visible from the Spaulding Turnpike, and close to the Interstate 95 interchange in Portsmouth.  

Local demand drivers include downtown Portsmouth; Pease International, a 3,000-acre community home to more than 250 companies and the Portsmouth International Airport; the University of New Hampshire; and The Kittery Outlet Mall.  The hotel offers guests complimentary breakfast, complimentary shuttle service, an indoor pool and whirlpool, sports court, fitness room, business center and hospitality room. 

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

New Wet Lab Space, part of $5 Million Expansion and Renovation of UCF Business Incubator in Research Park, Orlando, FL, already fully occupied

                                                                             

Carol Ann Dykes
ORLANDO, FL -- The long awaited wet lab¹ space at the UCF Business Incubator at Research Park opened and four client start-up companies moved in almost immediately.

Carol Ann Dykes, site manager for the Research Park incubator, said the wet lab space allows the innovative companies to expand their R&D operations.  

The new state of the art wet lab is an endeavor that’s been five years in planning and it’s already fully occupied. 

The $5 Million 49,000 square foot renovation project at the Incubator is totally complete after 14-months and the unveiling was recently held for local officials, partners and vendors.

The Research Park incubator houses nearly 50 early stage technology and soft landing client companies.  

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

Carol Ann Dykes, Site Manager, UCF Business Incubation Program, 407-207-7426 carolann.dykes@ucf.edu



Sedgwick Properties Breaks Ground on 60 Luxury Apartments at 1325 N. Wells Street in Chicago’s Old Town Neighborhood


 
Marty Paris
 CHICAGO, IL – Developer Sedgwick Properties has broken ground on a 60-unit luxury apartment building in Chicago’s Old Town neighborhood, expected to deliver in the spring of 2017.

Located at 1325 N. Wells St., the seven-story building will offer a mix of one-, two-, and three-bedroom luxury apartment rentals, with individual units ranging from 601 to 1,400 square feet.

“With a highly sought-after location in the heart of Old Town, 1325 N. Wells St. will offer residents a strong, vibrant Chicago neighborhood just steps from some of the city’s most popular dining, nightlife and recreational attractions, along with easy access to the Loop and Chicago’s central business district,” said Marty Paris, president of Sedgwick Properties.

 “For those seeking the active, urban lifestyle the Near North Side offers, this building will truly provide residents the best of both worlds. Old Town is one of Chicago’s most established neighborhoods, making it a highly desirable location for residents seeking new luxury development.”

For a complete copy of the company’s news release, please contact:

Lehia Franklin Acox, lfacox@taylorjohnson.com, 312.267.4511

Kim Manning, kmanning@taylorjohnson.com, 312.267.4527

Monday, April 4, 2016

Emerson International Negotiates Three Long-Term Leases at office developments in Longwood, FL, Maitland, FL and Southwest Orlando, FL

  
 
Zac Starkey
 Altamonte Springs, FL -- Emerson International recently negotiated long-term lease agreements totaling 6,603 rentable square feet at three of  its Class A office developments located in Maitland Center, Longwood and Southwest Orlando.

Zac Starkey, leasing associate for Emerson, negotiated a new lease with Group 10 Financial at 2600 Maitland Center Parkway. The financial planning company leased 2,044 square feet.

Starkey also negotiated an expansion lease agreement with eClat Law who doubled its size to total 3,598 square feet at Emerson’s Sanlando Center II located at 2180 W. State Road 434 in Longwood. 

Director of leasing Kenneth Koch negotiated a lease agreement with Ashton Accounting a new tenant for 961 square feet at Emerson’s Major Center Plaza I, 5728 Major Blvd. in southwest Orlando.

For a complete copy of the company’s news release, please contact:


Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com

Berkadia Originates $68.8 Million in Financing on Senior Housing Portfolio in Southeast Region


 
Marcus Lyons
CHATTANOOGA, TN — Berkadia recently originated $68,800,000 in financing for a portfolio of eight senior housing communities with a total of 474 units in three states across the southeast.  

The senior housing communities included are located in Lexington and Frankfort, Ky., Knoxville, Tenn. and Johnson, Ind.   

Marcus Lyons, Director, Chris Fenton and David Oakley, Managing Directors, of Berkadia, LLC represented the transaction through Freddie Mac.

The owner plans to use the funds to kick start future development across the Southeast.

For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com or larry@larryvershel.com


Crossman & Co. Names Two New Professionals to Orlando, FL Staff


Kyrstin Friebis
ORLANDO, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently welcomed Garrett Moise as Development Specialist and Kyrstin Friebis as Marketing Analyst.

 In his new role as Development Specialist at Crossman & Company, Moise works with consultants, subcontractors and government agencies in the development and construction process for the firm’s commercial projects.  

Moise, a graduate of University of New Mexico, is currently working on his MBA at the Rollins College Crummer Graduate School of Business. 


As Marketing Analyst, Friebis will be specializing in commercial real estate leasing and sales, while providing executive support to company president John Crossman.

 A graduate of the University of Central Florida, she was formerly a certified agent with Keller Williams Realty, producing over 2.5 million dollars in sales within the first two months of her tenure in Daytona Beach.

Garrett Moise

“Garrett and Kyrstin’s skills are perfectly suited for their positions here and we look forward to their growth with Crossman & Company,” said John Crossman, president.


For a complete copy of the company’s news release, please contact:


Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com or larry@larryvershel.com


Sunday, April 3, 2016

Bay Harbor Islands Developers Join Forces to Draw Buyer Traffic to the Florida Island

  
Robert Morales
BAY HARBOR ISLANDS, FL – A newly-formed task force of Bay Harbor Islands developers have come together to draw buyer traffic to the 383-acre island. 

The like-minded developers of this task force, called the Island Living Council, are dedicated to increasing the island’s visibility as it is often overlooked by brokers and buyers.

Bay Harbor Islands is a secluded, yet centrally located, waterfront oasis that is experiencing a major resurgence. The town offers a friendly neighborhood environment, fine dining, excellent schools and more, with destinations just a short walk or bike ride away.
  
“From the eyes of a developer, this is a great event to bring buyers to the island,” said Robert Morales, Ability of Acierto’s vice president of operations. Ability by Acierto is the development team behind Bijou Bay Harbor. “All of us have something to bring to the table that will highlight the beauty of Bay Harbor Islands.”

For a complete copy of the company’s news release, please contact:

BoardroomPR
Sandra Reichman/Ashley Fierman
(954) 370-8999



RealtyTrac Ranks Best Markets for Buying Single Family Rentals in 2026

       
Daren Blomquist

 IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its Q1 2016 Single Family Rental Market Report, which ranks the best markets for buying residential rental properties in 2016.

The report analyzed single family rental returns in 448 U.S. counties each with a population of at least 100,000 and sufficient rental and home price data. 

Rental data was from the U.S. Department of Housing and Urban Development, and home price data was from publicly recorded sales deed data collected and licensed by RealtyTrac markets.

“Rapidly rising home prices and tepid wage growth have dampened single family rental investment returns and growth potential in many markets, but there are still plenty of solid opportunities available for real estate investors willing to cast a wider geographic net,” said Daren Blomquist, senior vice president at RealtyTrac.

 “Rents are rising faster than median home prices in 45 percent of the markets analyzed — indicating continued strong demand for rentals in those markets — while annual wage growth is outpacing rent growth in 43 percent of the markets — indicating room for rising rental returns in those markets.”


For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann
Sr. Public Relations Manager
Office: 949.502.8300 ext 139