LandMark Retail Group Partners with Accubranch

  

Woodland Hills, CA (Sept. 19, 2011) – LandMark Retail Group (LRG), a subsidiary of NewMark Merrill Companies, has partnered with Accubranch, a premier strategic planning and market research group that specializes in providing expert real estate advice to the regional banking industry.

Accubranch offers banking and financial service clients fully integrated, expert solutions for managing their investment in real estate based on the individual needs of each bank by utilizing demographic and state-of-the-art location research, analytical data, field site analysis, as well as applied research of market areas to identify the best sites for new branches, consolidations, and relocations of existing branches.

“Our partnership with Accubranch expands LandMark Retail Group’s services, providing in depth analytical data and market research utilized by national retailers together with industry specific data to local regional and community banks that may not otherwise have these essential tools” said Jeremy Just (top right photo), Principal, Chief Executive Officer, LandMark Retail Group, LLC.

  "The sophisticated research provided by Accubranch combined with LandMark’s market knowledge and experience acquiring and delivering high traffic sites in densely populated markets allows us to provide complete real estate strategy and growth solutions to our clients."

For more details, visit: www.landmarkretailgroup.com.

Contact: David Ebeling, Ebeling Communications, (p) 949.861.8351

(c) 949.278.7851, david@ebelingcomm.com

Jones Lang LaSalle Names Josh Wrobel as Managing Director in Los Angeles

 LOS ANGELES, CA,  Sept. 19, 2011 — Jones Lang LaSalle has hired 17-year industry veteran Josh Wrobel (top right photo) as Managing Director in the firm’s Tenant Representation group in Downtown Los Angeles.

“Josh’s experience in working on the principal side of commercial real estate will be invaluable to Jones Lang LaSalle clients,” said Jan Pope (middle left photo), Jones Lang LaSalle’s Southwest Region Market Director.  “Downtown Los Angeles is important for our firm as we continue to expand in this market.”

Wrobel comes to Jones Lang LaSalle with a wealth of experience in commercial real estate leasing.  Prior to joining Jones Lang LaSalle, he was a vice president at one of the largest owners and operators of office properties in Los Angeles where he was responsible for the leasing of a 10-million-square-foot portfolio.

 In the past few years, Wrobel has secured deals with several high profile clients including Southern California Gas Company (375,000 square feet), Latham & Watkins (290,000 square feet), Skadden, Arps, Slate, Meagher & Flom (160,000 square feet), Oaktree Capital Management (155,000 square feet), Bank of the West (95,000 square feet), Reed Smith (81,000 square feet) and Morgan Lewis & Bockius (76,000 square feet).

He has also had a history of completing large scale campus developments transactions including Southern California headquarters campuses for Electronic Arts (195,000 square feet) and Western Asset Management (180,000 square feet).

Wrobel earned a Juris Doctorate degree from University of Michigan Law School and a Bachelor of Arts degree in economics from Claremont McKenna College. He has been actively involved with the Central City Association, Ketchum YMCA on Bunker Hill and the Los Angeles Business Improvement District.

 

For further information, please visit our website, www.joneslanglasalle.com.

Contact: David Ebeling, Ebeling Communications, (p) 949.861.8351

(c) 949.278.7851, david@ebelingcomm.com

Hotel Industry Showing Signs of a Strong Comeback

  

 ATLANTA, GA (Sept. 19, 2011) – After a tough 2008 and a brutal 2009, the hotel industry is in the midst of a solid overall comeback, and the sector once again is providing good purchase opportunities for commercial real estate investors.

 That’s the view of guests of this week’s “Commercial Real Estate Show,” which provides an inside look at the recent performance of the hotel and lodging industry.

For year to date through the end of July, the national hotel occupancy rate was above 60 percent and the average room rate was more than$100, said Steve Hennis (top right photo), director of STR Analytics. At the height of the recession, the occupancy rate was 55 percent and the average room rate around $98, he added.

“You can see that we’re gaining a lot of ground but it’s mostly on the occupancy side and not necessarily all that much on the rate yet,” Hennis said.

 R. Mark Woodworth (top left photo), president of Colliers PKF Hospitality Research, seconded Hennis’ positive assessment. “If there’s anything that’s really surprising about where we are today, quite frankly its how quickly demand has been growing,” he said. “We feel very good about the state of the industry.”

 Both Hennis and Woodworth noted the sector’s recovery hasn’t been distributed evenly. The luxury hotel segment has performed particularly well during the past year, while the budget segment has continued to lag, they noted.

The hotel industry is not producing much in the way of new supply, which is helping occupancy rates, Hennis said. New supply is up just 0.8 percent this year, which is well below the long-term average of 1.9 percent a year, he noted.

 Other guests included Andrew Pace (middle right photo), director of development for Hotel Equities, and commercial real estate attorney Dan Weede (bottom left photo), who is the president of the Atlanta Hospitality Alliance. 

The show is available for download here. The show airs Saturday in Atlanta on Biz 1190 at 10am ET and on Talk 920 Sunday at 9am ET.

The next “Commercial Real Estate Show” airs September 24 and will provide an overview of the pressing legal issues facing the commercialreal estate sector, such as foreclosure and bankruptcy, deed in lieu, loan restructures and note sales.

Contacts:

Christin Clay

Wilbert News Strategies

1720 Peachtree St, Suite 1040

Atlanta, GA 30309

p 404-965-5025 | m 404-405-2354

cclay@wilbertnewsstrategies.com

Twitter: @christinclay10

Tony Wilbert, Wilbert News Strategies, 404.965.5022

twilbert@wilbertnewsstrategies.com

http://www.creshow.com/

Essex Realty Group brokers Sale of 32-Unit, Multi-Family Apartment Building in Chicago

CHICAGO, IL – Sept. 19, 2011.   Essex Realty Group, Inc. is pleased to announce the sale of a 32 unit vintage courtyard apartment building in the Rogers Park neighborhood of Chicago, Illinois. 7381-89 N. Damen (top left photo) is located two blocks south of Chicago’s border with Evanston and two blocks from the  Howard Street CTA station, less than one mile from Lake Michigan.

The property consists of 25 one-bedroom, 4 two-bedroom and 3 three-bedroom units.

Doug Imber and Doug Fisher of Essex were the brokers on the transaction. The price was approximately $1,610,000.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

Essex Brokers Sale of Vintage Multi-Apartment Property at 3039 N. Lincoln in Chicago

 CHICAGO, IL - Sept. 19, 2011.   Essex Realty Group, Inc. is pleased to announce the sale of a vintage mixed-use building located in Chicago’s Lakeview neighborhood. The apartments at 3039 N. Lincoln (middle right photo) were recently rehabbed with granite countertops and new wood cabinetry in the kitchens, and updated bathrooms.

 Doug Fisher, Jason Fishleder and Matt Welke of Essex were the brokers in the transaction. The price was approximately $650,000.

Retail Building in Evanston, IL Sold for $405,000

CHICAGO, IL,  Sept. 19, 2011. Essex Realty Group, Inc. is pleased to announce the sale 1307-09 Chicago Avenue (bottom right photo), Evanston, Illinois.

The property is situated at the hightraffic intersection of Chicago Avenue and Dempster Street in Evanston. The property consists of a one-story building containing three commercial spaces of 564 SF each, situated on a 9,500 SF lot with approximately 20 parking spaces.

Doug Fisher and Jason Fishleder of Essex were the sole brokers in the transaction. The price was approximately $405,000.

Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

If you would like more information on any of the transactions, please call Doug Imber at 773.305.4902 or e-mail him at dougimber@essexrealtygroup.com.

Essex Realty Group, Inc.

2211 N. Elston Avenue, Suite 302

Chicago, Illinois 60614

773.305.4900

Lincoln Leases 1200 Edgewater Drive in Orlando, FL

ORLANDO, FL (Sept. 19, 2011) – With demand high for quality medical office space, Lincoln Property Company successfully leased an entire building to Vascular Vein Centers of Orlando.

 Vascular Vein Centers of Orlando signed a 10-year lease for the 9,008 square foot building at 1200 Edgewater Drive (top left photo) and will use the space for a clinic and executive offices. 

 Jay Dixon (bottom right photo) from Lincoln represented the landlord Edgewater Drive Properties, LLC. Lou Payas with Payas Commercial Real Estate represented the tenant.

 Vascular Vein Centers of Orlando is a leader in varicose vein diagnosis and treatment. This will be the practice’s sixth location in the greater Orlando area with a seventh planned in Lake Mary, Fla.

“Good medical office space is in high demand in Orlando and around the country,” said Dixon. “The building’s excellent exposure on Edgewater Drive and large parking lot attracted the tenant to the space.”

Contact:

Laura Dudebout

O: 404.965.5023

C: 678.642.4301

ldudebout@wilbertnewsstrategies.com

Interstate Hotels & Resorts Enters JV with Netherlands-based TVHG Budget Group Beheer BV

 ARLINGTON, VA., Sept. 19, 2011—Interstate Hotels & Resorts, the United States’ largest independent hotel management company, today announced that the company has entered into a joint venture with TVHG Budget Group Beheer BV (“TVHG”), through its subsidiary TVHG Budget Group Netherlands trading under the name Dutch Hotel Partners, to invest in a portfolio of nine hotels located across the Netherlands. 

Of the nine hotels, one was recently opened, the 112-room Holiday Inn Express Schiphol Airport (top left photo) in Amsterdam, and the remaining eight, anticipated to be open by the end of 2012, will be converted from existing buildings to Holiday Inn, Holiday Inn Express or Hampton Inn brands.  All nine hotels, comprising approximately 1,800 rooms, will be managed under long-term contracts by Interstate.

“This joint venture marks our entry into the Netherlands and significantly increases our European presence to more than 25 hotels open or in the pipeline,” said Thomas F. Hewitt (middle right photo), Interstate’s chairman and chief executive officer.  “This new alliance illustrates our commitment to aggressive growth in Europe.  We have the infrastructure and an experienced management team in place to oversee our growing portfolio there.”  

 “TVHG is an experienced, highly regarded hotel developer with an impressive record of hotel development and transactions in the Netherlands and elsewhere,” said Jim Abrahamson (lower  left photo), Interstate’s president and COO. 

“For the past few years, they have focused on taking advantage of opportunities in the real estate sector by identifying well located, vacant office buildings that represent attractive hotel conversion opportunities to internationally recognized brands.  Nine of those hotels form the basis of this partnership, and the addition of Interstate’s established management platform to this unique joint venture will help fulfill the promise of that plan.” 

Abrahamson noted the strength of Interstate’s international platform comes from the company’s long and positive relationships with top-quality brands. “This is our first deal with TVHG and we look forward to building on our relationship as we expand in Europe.”

 “Interstate has pioneered the concept of independent hotel management in some of the world’s fastest growing economies and has successfully transplanted that business model to Europe,” said Bart van de Kamp, founder and CEO of TVHG.  “The capabilities they bring, combined with their long, strong track record of superior performance, give us a high degree of confidence in their ability to operate these hotels to their full potential and maximize our returns. With Interstate’s platform and their relationships with top tier brands, we hope to continue our partnership beyond this initial phase in the Netherlands into other markets.”

Several hotels will be located in the Amsterdam area and others in major cities in the Netherlands.  All of the hotels will be situated close to railway stations, airports or along main highways.

 “This transaction marks our renewed emphasis on establishing a major presence in Europe.  We are dedicated to both investment and management in key markets throughout Europe,” said Leslie Ng, Interstate’s chief investment officer.  “With the addition of these nine hotels, we have significantly expanded our footprint in Western Europe and are rapidly moving our international growth strategy forward.  Our global pipeline remains active, and we continue to explore additional opportunities worldwide. We look forward to growing our presence with TVHG as a partner.” 

 For additional information,  contact Interstate’s Senior Vice President, Development-Europe, Aaron Greenman, aaron.greenman@ihrco.com or +32 498127973, or visit the company’s website:  www.ihrco.com.

Contact:

Jerry Daly, Carol McCune, Media, Daly Gray, Inc., (703) 435-6293, jerry@dalygray.com                                                                                      

Carrie McIntyre, SVP, Treasurer, Interstate Hotels & Resorts, (703) 387-3320

carrie.mcintyre@ihrco.com

                             

Marcus & Millichap Lists $10 Million Office Building in Springfield, IL Leased to Blue Cross

SPRINGFIELD, IL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 75,960-square foot office building (top left photo) located in Springfield. Health Care Service Corp., which currently has a Standard & Poor’s credit rating of AA-, recently signed a 10-year triple-net lease.

The lease contains annual rent increases that begin in 2013. The listing price of $10,055,000 represents $132 per square foot.

Alvin Mansour (middle right photo), a senior vice president investments in the firm’s San Diego office, is representing the seller, a local developer. John Przybyla (lower left photo), first vice president in Marcus & Millichap’s Chicago Downtown office, is the broker of record in Illinois.

            “Originally part of a 160-acre master-planned park, the property is surrounded by other office buildings, including a new 100,000-square foot building leased to American International Group Inc.(AIG),” says Mansour. “Health Care Service Corp. recently spent a significant amount of money on improvements to the property.”

 The building is located at 3200 Robbins Road in an area with more than 92,000 residents within a five-mile radius.

  

 The property is directly behind Southwest Plaza, a 368,000-square foot retail center anchored by Best Buy, Barnes & Noble, Michael’s, Office Depot, PetSmart, Sports Authority and other retailers.

The site is just south of White Oaks Mall, a 920,000-square foot regional mall anchored by Macy’s, Sears, Dick’s Sporting Goods, Bergner’s and others. The area’s average household income is in excess of $91,000, which is 26 percent higher than the national average. 

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716    

Eagle Meadows Complex in Delaware Commands $23.2 Million in Open Bid

DOVER, DE– Institutional Property Advisors (IPA), a recently formed multifamily brokerage division of Marcus & Millichap uniquely qualified to serve the needs of institutional and major private investors, has arranged the sale of Eagle Meadows (top left photo), a 298-unit multifamily complex in Dover.

 The sales price for the 352,202-square foot asset was $23,180,000, or $77,785 per unit. IPA is a subsidiary of Marcus & Millichap Real Estate Investment Services.

Victor Nolletti and Steve Witten, senior directors of IPA; Michael Early, a vice president investments with Marcus & Millichap; and Mark Thomson, an associate vice president investments with Marcus & Millichap, represented the seller, Hunt Companies, Inc., based in El Paso, Texas.

 Nolletti, Early and Witten represented the buyer, New York-based Morgan Eagle Meadows LLC.

“The new ownership has acquired a well-maintained, extremely competitive asset that promises stabilized returns over the long term,” says Nolletti.

 “Also, the new owner will benefit from the extremely low turnover rate at this property, which offers renters a single-family lifestyle with very spacious accommodations. A low-density community,

“Eagle Meadows is located near a diverse mix of private-sector and public employees, making it an even more attractive investment,” continues Nolletti.

“Further boosting its value, Hunt invested more than $4 million in renovations, including new HVAC panels, roofs, electrical panels and interior renovations to more than one-third of the units, making this an excellent value-added play,” says Witten. “In addition, Eagle Meadows contains a rare mix of two- and four-bedroom dwellings – a sought-after combination in any urban market.”

Located at 4666 Carolina Ave., Eagle Meadows is comprised of 149 detached duplexes situated on 76 acres in Dover. With a mix of 178 two-bedroom units and 120 four-bedroom units, the apartment homes have oversized closets, fully amenitized kitchens, washer/dryer hookups and ceiling fans. Eagle Meadows also offers residents the largest-sized units on the market in Dover, ranging between 898 square feet and 1,468 square feet.

 Community amenities include a fitness center, walking trails, five playgrounds, a lighted basketball court and a fenced dog park.

 “The sale of Eagle Meadows represents Hunt’s overall business strategy to recycle capital and deploy it to strategic pursuits in our core markets, thereby strengthening our footprint in the multifamily housing market segment,” said Ryan Luxon (middle left photo), executive vice president-finance and dispositions for Hunt.

The city of Dover draws tenant demand from its 13 major employers, including Platex, Bay Health, Kraft Foods, Proctor & Gamble,  Sunroc and the Dover Air Force Base, which employs 6,400 military personnel.

Institutional Property Advisors Contact: Stacey Corso, PublicRelations Manager, (925) 953-1716                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Hunt Hunt Companies, Inc. Contact, Brenda Christman, SVP Corporate Communications, (915) 222-1669      

Sam’s Club in Colorado Springs Hits the Market at $18 Million

 

COLORADO SPRINGS, CO – Marcus & Millichap Real Estate Investment

Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 128,065-square foot Sam’s Club (top left photo) in Colorado Springs. The listing price of $18 million represents $141 per square foot.

Garrette Matlock (middle right photo) a senior vice president in the firm’s Denver office, is representing the seller.

 “Sam’s Club is currently paying $9.93 per square foot on an absolute triple-net lease with six five-year options and a $0.50 per square foot increase every five years,” says Matlock. “The store serves as an anchor to Woodmen Commons, a market-dominant power center.”

The property is located at 1850 East Woodman Road at the intersection of East Woodmen Road and North Academy Boulevard, south of Interstate 25 in northern Colorado Springs.

Academy Boulevard is one of the busiest streets in Colorado Springs and the intersection of North Academy Boulevard and East Woodmen Road, with traffic counts of 90,500 cars per day, is the third-busiest intersection in the city. The property has great visibility from the recently constructed overpass at Woodmen Road and Academy Boulevard and there is a signalized entrance directly in front of the store.

 Sam’s Club is being offered by the original owners who developed the property in 1998. A gasoline and ATM pad site provides an additional $30,000 in annual rent.

Colorado Springs is the county seat and the most populous city in El Paso County, Colo., which is the largest county in the state. El Paso County’s population is greater than 620,000 and has grown more than 20 percent in the last 10 years.

The average annual income within three miles of the property is $87,815.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

LTC Senior Management to Attend the 2011 BMO North American Real Estate Conference

WESTLAKE VILLAGE, CA--(BUSINESS WIRE)--LTC Properties, Inc. (NYSE:LTC) announced today that senior management will attend the 2011 BMO Capital Markets 6th Annual North American Real Estate Conference in Chicago at the Peninsula Hotel (top left photo).

The conference is scheduled for Wednesday, September 21 through Thursday, September 22, 2011.

Presentation materials will be available on the Investor Relations section of LTC Properties’ website (www.LTCProperties.com) on September 21, 2011 and for a limited period following the event.

The Company is a self-administered real estate investment trust that primarily invests in long-term care and other health care related facilities through mortgage loans, facility lease transactions and other investments.

For more information on LTC Properties, Inc., visit the Company’s website at www.LTCProperties.com.

  

Contacts

LTC Properties, Inc.

Wendy L. Simpson, CEO & President

Pam Kessler, EVP & CFO

(805) 981-8655

California Realtor Expo 2011 Opens Next Week in San Jose, CA

 SAN JOSE, CA--(BUSINESS WIRE)--CALIFORNIA REALTOR® EXPO 2011, the state’s largest trade show, opens next week at the San Jose McEnery Convention Center (bottom right photo)in San Jose, Calif.

Running Sept. 20-22, CALIFORNIA REALTOR® EXPO 2011 features more than 70 cutting-edge seminars on topics ranging from social media, to short sales, and the millennial generation. EXPO 2011 will also feature more than 150 exhibit booths and is expected to attract more than 6,500 attendees.

Additionally, the Exhibit Hall for CALIFORNIA REALTOR® EXPO 2011 opens at 5 p.m. on Tuesday, Sept. 20. More than 150 exhibitors will showcase cutting-edge products and services that help REALTORS® streamline and grow their real estate business.

Contacts

CALIFORNIA ASSOCIATION OF REALTORS®

Lotus Lou, (213) 739-8304

lotusl@car.org

Sizzler Reopens in Lake Forest, CA Saturday, Sept. 17; $3 million renovation creates 100 jobs

TEMECULA, CA.--(BUSINESS WIRE)--The first-of-its-kind Sizzler in Orange County will welcome guests Saturday, Sept. 17 after being closed for seven-and-a-half months.

 The $3 million next generation Sizzler at El Toro Road and Raymond Way in Lake Forest was gutted to its studs and expanded to 7,200 square feet to better serve its customers.

“We call this the New Vision or New Generation Sizzler,” said Gary Myers, president of Temecula-based BMW Management, which owns the restaurant. “It is dramatically improved from its predecessor in every way. It represents Sizzler’s future.”

BMW is Sizzler’s largest franchisee with 24 locations across California.

Outside the restaurant, Americana images proudly remind guests of their heritage, while chefs behind the mesquite barbeque grill cook up fresh tri tip all day long. Inside, staff place guests’ orders incorporating a new interactive, yet personal, approach.

The menu includes such specialty items as sweet potato fries, fresh barbeque tri tip platter, tri tip sandwich, French dip, Philly cheese sandwich, fish and chips and fresh fish.

The new Endless Salad Bar is anchored by a demonstration area, where made-from-scratch salads are prepared.

Light and dark contrasting woods collaborate with earthy tones to create a fresh and energetic dining environment. A semi-circular booth, first introduced in Murrieta and Oceanside Sizzlers, will be popular with large families and groups.

During a July job fair, 2,000 people applied for 100 jobs in the Lake Forest Sizzler. The staff has been trained at the New Vision Sizzler in Murrieta, Calif. A rededication ceremony will be held later this month.

The Lake Forest Sizzler will be open from 11 a.m. to 10 p.m. daily. However, the restaurant will remain open later, when necessary. The location is celebrating its reopening with a Steak Fest special, a six-ounce Sizzler steak with Salad Bar for $10.99.

Contacts

BMW Management

Sally Myers, 951-775-0520

sally.myers@bmwmanagement.com

Legendary Architect Zaha Hadid Chosen to Design Miami Beach Parking Garage at Collins Park

MIAMI BEACH, FL--(BUSINESS WIRE)--Architect Zaha Hadid (top right photo) has been chosen by the City of Miami Beach to design its newest parking garage at Collins Park, a neighborhood that’s home to the Miami City Ballet, the Bass Museum, the City Library as well as the Gansevoort, W and Setai luxury hotels.

Collins Park is also just blocks away from the Miami Beach Convention Center (middle left photo), the Frank Gehry-designed New World Center and the popular automobile-free Lincoln Road Mall (middle right photo).

Consistently sought-after, Hadid is the architect of the Aquatic Center for the 2012 London Olympics, the Cincinnati Contemporary Arts Center, and has designed major building structures for BMW and around the world in Barcelona, Abu Dhabi and Cardiff, Wales.

 Hadid, the first woman to win the Pritzker Architecture Prize - the profession's highest honor - joins the growing list of world renowned architects who have gained international attention and are referred to as “Starchitects,” who have designed and overseen construction of new parking garages in the City of Miami Beach.

“This is a great opportunity for the City of Miami Beach to expand its commitment to leading edge architectural design,” says Matti Bower (bottom left photo), Mayor of the City of Miami Beach.

 “Even our parking garages are more than a group of parking spaces. Some have become destinations within themselves and have attained individual iconic status. Every building can be a work of art. We are pleased to work with Ms. Hadid and we are delighted with her contemporary and brilliant design for our newest parking garage.”

Miami Beach’s parking garages have received world-wide media attention and have become tourist attractions themselves.

They include the Frank-Gehry designed, city-owned, Pennyslvania Avenue Garage; Herzog de Meuron's minimalist, edgy space at 1111 Lincoln Road; Arquitectonica's Ballet Valet Garage at 7th Street and Collins Avenue as well as their newest design in Sunset Harbour, which is currently under construction;

 Enrique Norton’s newly designed parking garage at 16th Street and Drexel Avenue; and Perkins and Will’s recent City Center Garage Project at 18th Street and Meridian Avenue.

Hadid's new design is expected to continue to raise the bar for garages worldwide. The City of Miami Beach is currently working with Ms. Hadid to determine commencement dates for the new garage’s design plans and construction.

Visit MiamiBeachGuest.com or MiamiBeachINCARD.com for more information or contact Grisette Roque-Marcos at Groquemarcos@miamibeachvca.com.

Contacts

Hill & Knowlton SAMCOR

Ashley Menear, 305-443-5454

amenear@hillandknowlton.com

Marcus & Millichap Sells Sunnyside Apartments in Miami, FL

MIAMI, FL, Sept. 16, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the Sunnyside Apartments (top left photo), a 28-unit multi-family property located in Miami, Fla, according to Gregory Matus, Vice President/Regional Manager of the firm’s Ft. Lauderdale office.

The asset commanded a sales price of $1,300,000 representing $46,429 per unit.

Vice President Investments Felipe J. Echarte, Jr (lower right photo). and Senior Associate Joseph P. Thomas, in the firm’s Ft. Lauderdale office, exclusively represented the seller, a private investor from Miami, Fla.  The buyer, a limited liability company, was also secured by Echarte and Thomas.

Sunnyside Apartments is a 28-unit multi-family property located on NE 6th Avenue, just north of 150th Street in Miami, Florida. Sunnyside is situated in a densely populated area of unincorporated Miami-Dade County between North Miami and North Miami Beach.  

The property offers an excellent unit mix comprised of 14 one-bedroom/one-bath apartments on the first floor and 14 two-bedroom/one-and-a-half bath townhouse apartments on the second and third floors.

Press Contact: Gregory Matus, Regional Manager / Vice President, Ft. Lauderdale, (954) 245-3400

www.MarcusMillichap.com