Berger Commercial Realty Hires Team of New Employees to Manage Industrial Portfolio Owned by Seagis Property Grou

  

Kristen Cigalotti

FORT LAUDERDALE, FL – Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced it has hired 12 new employees to manage a portfolio of 4.7 million square feet of industrial space owned by Pennsylvania-based Seagis Property Group.

Claudia Fajardo

The new staff members, who were previously employed by Flagler Real Estate and are retaining their former titles, include:

• Kristen Cigalotti, accounts receivable specialist;
• Paola Duran, assistant property manager;      
• Alisha Eutsey, senior 
• property manager;
• Dolores Guerrero, property manager;
• Claudia Fajardo, property manager;
• Mitzi Jordling, accounts payable specialist;
• Tony Perez, tenant improvement and capital project manager;
• Veronica Perez, senior accountant;
• Ana Pereira,  property manager;
• Cindy Rios, property manager;
• Maria Roman, lease administrator;



Alisha Eutsey

• Juan Sotolongo, assistant property manager.

Ana Pereira

They will be based out of the firm's Miramar office and will oversee 38 flex and industrial properties in Broward and Miami-Dade counties.

 "We are proud to welcome this team of experienced real estate professionals to the firm," said Berger Commercial Realty President Lloyd Berger. "Each employee offers  our clients valuable knowledge and expertise, and enhances our reputation as one of South Florida's premier commercial real estate firms."

Cindy Rios

 Ranked among the largest commercial  real estate firms in South Florida, Berger Commercial Realty provides comprehensive, cost-effective property management and brokerage services to both institutional and non-institutional owners. For more information, visit

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

Marielle Sologuren

Pierson Grant Public Relations

(954) 776-1999, ext. 226

msologuren@piersongrant.com

www.bergercommercial.com

.

Multi Housing Advisors Brokers $22.3 Million Sale of 248-Unit Foxcroft Apartments in Chapel Hill, N.C.

  

CHARLOTTE, N.C.  — Multi Housing Advisors (MHA) has brokered the $22.3 million sale of Foxcroft Apartments, a 248-unit community in Chapel Hill, N.C.

Marc Robinson

 Marc Robinson and Jordan McCarley of MHA’s Charlotte office represented the seller, Douthit & Co., in the transaction.

An affiliate of Eller Capital Partners purchased the 40-year-old property, which was 95 percent occupied at the time of closing, and will undertake an extensive renovation of the property. The sale marks only the second time that Foxcroft Apartments has been sold.

 “This is a notable sale due to the fact that apartments in Chapel Hill change hands very rarely,” Robinson said. “The town’s extremely high barriers to entry and strong market fundamentals create a unique dynamic that favors long-term ownership.

Jordan McCarley

“ The buyer is planning a property-wide renovation that will significantly enhance the community’s physical appearance and interior unit features to bring it to a quality level that will allow the property to compete with much newer properties.”

 MHA recently expanded its Charlotte office and intends to open additional offices in the South. The firm has made a number of significant new hires over the past year as well, adding experienced brokers to expand its geographic reach and to take advantage of the increasing volume of multifamily investment sales.

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

Stephen Ursery

The Wilbert Group

404-549-7150 (O) 404-405-2354 (C)

sursery@thewilbertgroup.com

 www.usmha.com.

MBA to Promote Fratantoni to Chief Economist

  

Michael Fratantoni

WASHINGTON, DC–  David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA) announced today that Michael Fratantoni, currently MBA’s Vice President, Single Family Research and Policy Development will be appointed Chief Economist and Senior Vice President, Research and Industry Technology, reporting directly to MBA’s President and CEO David Stevens. 

Mr. Fratantoni will succeed Jay Brinkmann, and his appointment will be effective February 1, 2014. 

Jay Brinkmann

Mr. Fratantoni will bring two decades of industry experience to his new position.  In his current position, he serves as Brinkmann’s top deputy on residential real estate and economic issues, managing MBA's industry surveys, economic and mortgage originations forecasts, industry technology efforts, and policy development research for issues impacting single-family lending.

 He is also Executive Director of MBA's Research Institute for Housing America (RIHA) and President of the Mortgage Industry Standards Maintenance Organization (MISMO).

David H. Stevens

“Mike has been an invaluable resource to MBA and its members as we try and navigate an ever-changing industry and economic environment,” said Stevens.  “Mike’s ability to compile and analyze data and apply it to complex public policy discussions has been a major factor in MBA effectively representing its members as policymakers implement many post-crisis reforms. 

“His work has enabled us to make fact-based arguments about the impact of proposed rules, arguments that were critical in improving many of the Dodd-Frank reforms during the notice and comment period."

  

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

John Mechem 

(202) 557-2727

Home Sweet Home: Housing Market Recovery Continues

  

Michael Bull

 ATLANTA, GA– As the single-family housing market continues to recover, prices and sales volume are nearing pre-recession levels. Furthermore, with the population and household formations rising, the housing market shows no signs of slowing down.

 Those were a few of the points made during the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty. Bull and his guests discussed home sales, supply and demand, and land costs.

Brad Hunter

 The lack of supply of newly built homes and available lots is causing an increase in pricing, said Brad Hunter, chief economist of MetroStudy.

 “Compared to this time last year, prices are up approximately 15 percent nationally,” said Jed Smith, managing director of quantitative research for the National Association of Realtors. A medium-priced house today is selling for $212,000, compared to $176,000 in 2012, he said.

Jed Smith

 “We have tracked submarkets where builders have raised prices by as much as 20 percent during the last 12 months,” Hunter said.

 By the end of 2013, the volume of home sales is expected to reach more than 5.2 million sales, up 13 percent from 4.7 million sales in 2012, Smith added.

 “In Class A and B submarkets around the country, there’s a one- to one-and-a-half-month supply of new homes and as low as a 10- to 15-month supply of lots,” Hunter said. Depending on the market, the normal supply of newly built homes is about two-and-a-half months, he added.

Steve Palm

 Nationwide, two kinds of supply shortages are occurring — one of newly built homes and one of building lots, Hunter said. Developers are complaining that they can’t find lots in areas where there used to be a plethora to choose from, he added.

 Developable lots are disappearing at a rapid rate in Class A submarkets, said Steve Palm, president of Smart Numbers. “In the Southeast, lots have been gobbled up in central locations in Atlanta, Charlotte and Orlando,” Palm said.

 “We have been saying since 2011 that we think America will face its biggest land shortage in history,” added Sebastian Drapac, executive director of Drapac USA.

Sebastion Drapac

 Pent-up demand, the growing population and a continued trend of household formations all indicate a booming housing market is on the horizon, guests said. “It’s going to be an interesting next two years,” Drapac said.

 The entire episode on the rebirth of the housing market is available for download at www.CREshow.com.

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

Stephen Ursery

The Wilbert Group

404.405.2354

sursery@thewilbertgroup.com

Franklin Street Brokers Sale of Jacksonville Shopping Center for $1.1M, All Cash

            

Lem Turner Shopping Center, 3200 Armsdale Road, Jacksonville, FL

Jonathan Graber

JACKSONVILLE, FL (Oct. 18, 2013)—Franklin Street Real Estate Services announces the sale of Lem Turner Shopping Center in Northwest Jacksonville for $1,092,500. National investors based in the Midwest paid all cash in the transaction. This was their first Florida purchase.

 Jonathan Graber, CCIM, Rafaell Wright, CCIM, and Nicolas Prevolos, all of Franklin Street Real Estate Services, represented the seller in the transaction, national investors also based in the Midwest.

Nicolas Prevolos

 “We generated multiple offers from across the country,” Graber said.  “Even though the property was located in a green area of Jacksonville hit hard by the recession, we were able to close in less than four months with offers as far West as Los Angeles and as far North as Maine.”

The new owner plans on making cosmetic improvements to the building and developing an aggressive lease-up strategy. The center is currently 50 percent occupied.

 “We find that buyers are willing to enter markets far from where they are accustomed to owning property if there is a value-add opportunity – especially in re-emerging areas with more opportunities,” Wright said.

Prevolos added that the shopping center was built speculatively before sufficient residential development and other economic fundamentals were in place. 

However, activity is beginning to emerge with Dollar Tree recently backfilling the adjacent Home Depot outparcel to the south as well as multiple new 7-11 locations nearing completion in the surrounding area.

Lem Turner Shopping Center is located at 3200 Armsdale Road in Northwest Jacksonville, Fla. off the Lem Turner/I-295 Interchange. Anchor tenants include Walmart and Home Depot.

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

Kelsy Pazur

813-839-7300, ext. 337

Kelsy.Pazur@FranklinSt.com

@FranklinST_llc

www.FranklinSt.com

Michelle Friedman

Account Director

Boardroom Communications

(904) 641-3226

(561) 706-4585 Cell

(954) 370-8999

(954) 370-8892 Fax

mfriedman@boardroompr.com

   

MACK Companies Offers 10 Immediate Delivery Townhomes at Fay’s Point in Blue Island, IL

Fay's Point model home, Blue Island, IL

CHICAGO, IL– Tinley Park-based MACK Companies announced that 10 new construction townhomes are ready for immediate delivery at Fay's Point, a 27-acre marina community in Blue Island, Ill.

Eric Workman

 Five two-bedroom and five three-bedroom, two-story townhomes are available for sale, with prices ranging from $204,900 to $249,900 for 2,015 to 2,481 square feet.

 “Fay’s Point really has it all, as it combines high-quality housing, a prime location and affordable pricing, which appeals to a broad number of homebuyers, particularly those looking to purchase a home before interest rates get much higher,” said Eric Workman, vice president of sales and marketing at MACK.

“Single professionals and young couples will love being less than 20 miles from Chicago’s Loop, families will be drawn to the quiet marina neighborhood and empty-nesters will enjoy the laid-back lifestyle, with walking paths and boat dock right at their doorstep.”

Less than 20 miles south of Chicago, Fay's Point is in the early stages of development with a total of 30 existing townhomes, including the 10 new construction units available for immediate sale.

The development also includes home sites for 44 new-construction townhomes, five lots capable of up to 236 new multifamily units and a marina with more than 80 boat slips.

Planning for the new construction is underway, positioning this marina community to be a major destination in the thriving south Chicago suburb.

  

Keith Tarasiewicz

Fay’s Point is located just off of I-57, at 1522 Broadway in Blue Island, with close proximity to two Metra Rail stops and just minutes from a number of major retail outlets, restaurants and entertainment.  

For more information on the immediate-delivery townhomes or to schedule a tour, contact Keith Tarasiewicz by phone at 855-440-6225, email keitht@ibuymack.com or visit www.fayspoint.com.

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

Julie Liedtke

jliedtke@taylorjohnson.com

312-267-4521

Kim Manning

kmanning@taylorjohnson.com

312-267-4527

www.mackcompanies.com

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Sustainable Affordable Housing Community Utilizing Innovative Energy Saving Techniques Opens in Buena Park, CA

  

Park Landing Apartment Homes, 8850 La Palma Avenue, Buena Park, CA

 BUENA PARK, CA – WNC, a national investor in real estate and community development initiatives, announced today the completion of Park Landing Apartment Homes, a 70-unit, four-story affordable housing project in Buena Park, Calif.

Laura Archuleta

WNC provided $7.5 million in low-income housing tax credit (LIHTC) equity to fund the energy efficient project, which is believed to be the first in Orange County to incorporate a substantial sustainable “green roof,” totaling approximately 20,000 square feet. 

With a total project cost of $22 million, Park Landing Apartment Homes is located at 8850 La Palma Ave. and was developed in partnership with Jamboree Housing Corporation.

 The garden-style community offers a mix of one-, two- and three-bedroom units and is available to working families earning between 30 percent and 60 percent of the area’s median income level.

Property amenities include: an outdoor patio area; children’s play area with an Imagination Playground containing moveable building pieces to promote cognitive and social abilities; barbeque and picnic areas; and a basketball court. Residents are also able to enjoy a community center, fitness room, tutoring and computer lab, kitchen and laundry facilities.

Gregory Hand

“WNC is proud to have participated in the development of Park Landing Apartment Homes, which is nothing short of revolutionary for the Orange County area,” said WNC’s Gregory Hand, Senior Vice President, Underwriting.

 “Great care was taken to ensure that what was previously an urban infill site would become an exceptional affordable and sustainable community that improves the lives of its residents and the entire county.”

Park Landing Apartment Homes utilizes a 20,000-square-foot “green roof” that covers its 142-space asphalt parking area to promote biodiversity and carbon sequestration, which facilitates the absorption of carbon dioxide by nearby green plants. 

The green roof will reduce the so-called “heat island effect” generated by the asphalt of an open parking area, as well as capture, reduce and filter storm water runoff to be used throughout the property.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703 – direct

509.338.5676 – mobile

julie@spotlightmarcom.com

www.wncinc.com.

Charter Realty and Regency Centers Purchase Fellsway Plaza in Medford, MA

Fellsway Plaza, Medford, MA

 

Paul Brandes

MEDFORD, MA--(BUSINESS WIRE)-- Charter Realty & Development Corp. and Regency Centers Corporation (NYSE:REG) closed on the acquisition of Fellsway Plaza, a 150,000-square-foot neighborhood center anchored by a recently constructed Stop & Shop.

Located in Medford, Mass., the property was acquired from Berenson Associates of Boston through a joint venture between Charter and Regency. Permanent and development financing for the transaction was provided by PNC Bank. Hank Blake of Blake Commercial Property Group represented the buyer in this transaction.

Dan Zelson

 “Fellsway Plaza is an iconic infill location in the Boston metro area that cannot be replicated; exactly the kind of property we will continue to target,” said Paul Brandes, principal of Charter.

Constructed in multiple phases dating back to the 1950s, Fellsway Plaza has not changed hands since its original ownership built the property, which has always served as the gateway retail location for consumers traveling south on the Fellsway toward Boston. Stop & Shop at this location has consistently outperformed the other area grocers serving this trade area.

Barry Argalas

“We are excited to add this high quality asset to our growing portfolio and look forward to expanding our footprint within the Boston MSA,” said John Hricko, vice president and regional officer at Regency Centers.

Dan Zelson, principal of Charter adds, “Our redevelopment plans make this the type of project tenants are seeking in today’s marketplace. There are few opportunities of this nature.”

A modern theme will update the building’s aesthetics, while planned upgrades in existing tenancies will reinvigorate the property’s tenant mix. The common areas will be renovated with plantings and pedestrian scale elements to further enhance the shopping environment.

John Hricko

Slated to begin in the spring of 2014, construction will include a new satellite building along the property’s frontage. Charter will be responsible for development, property management and leasing on behalf of the joint venture.

“We truly look forward to working with Charter and believe our joint venture will be quite successful in implementing our strategies to upgrade the facility,” said Barry Argalas, senior vice president of national transactions at Regency Centers. “We fully expect this asset to be representative of other high quality properties in the Regency portfolio.”

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

Paul Brandes, 914-701-4002

Principal

psb@chartweb.com

or

John Hricko, 610-747-1205

Vice President, Regional Officer

JohnHricko@RegencyCenters.com

Cohen Commercial Realty Signs Dr. Tim Willingham to New Lease in West Palm Beach, FL

Emporium Shoppes, Military Trail and Okeechobee Boulevard, West Palm Beach, FL

West Palm Beach, FL— Bryan S. Cohen and Allan Carlisle of

Bryan S. Cohen

Cohen Commercial Realty, Inc., announced the signing of Dr. Tim Willingham, to lease a 2,355-square-foot unit at Emporium Shoppes located on the northwest corner of Military Trail and Okeechobee Boulevard. Cohen Commercial Realty, Inc., represents the tenant. They join Tuesday Morning, The Vitamin Shoppe, Zuccarelli’s Italian Kitchen and Farmer’s Market.

Allan Carlisle

Dunkin Donuts Takes 3,000 SF at Lantana Village Square

Lantana, FL— Bryan S. Cohen, Allan Carlisle and Travis Langhorst of Cohen Commercial Realty, Inc., announced the signing of Dunkin

Donuts, to lease a 3,000-square-foot outparcel at Lantana Village Square located on the northwest corner of U.S. Highway One and Hypoluxo Road. Cohen Commercial Realty, Inc., represents the landlord, Equity One, and Alex Karas with Cap Rate Group represents the tenant. Dunkin Donuts joins K-Mart, Winn-Dixie and Bank of America.

  

Travis Langhorst

Half Price Furniture Warehouse Leases 3,887-SF Endcap at Village Marketplace in West Palm Beach, FL

West Palm Beach, FL— Bryan S. Cohen and Allan Carlisle of

Cohen Commercial Realty, Inc., announced the signing of Half Price Furniture Warehouse LLC, to lease a 3,887-square-foot endcap at Village Marketplace located on the northwest corner of Okeechobee Boulevard and Haverhill Road. Cohen Commercial Realty, Inc., represents the landlord. There they join Guitar Center, Family Dollar and La Brasa Rotisserie & Grill.

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

Jamie Crocker

jamiecrocker@cohencommercial.com

561.471.0212 phone

561.471.5905 fax

Taylor & Mathis Orlando Announce Over 10,000 SF in Lease Transactions in Central Florida

Primera Tower Two, Lake Mary, FL

Damien Madsen

ORLANDO, FL --  Damien Madsen, Principal of Taylor & Mathis Orlando announced today the completion of over 10,000 square feet in leases in Lake Mary and Maitland.

 Damien Madsen and Darryl Hoffman recently completed two leases totaling 6,600 square feet in Lake Mary including one lease totaling 3,696 square feet in Tower I at Primera for Phacil, Inc. and a 2,904 square foot lease for Michael Baker in Tower II at Primera. 

Darryl Hoffman

In Maitland, Madsen and Hoffman finalized a 3,500± SF lease for the Recovery Village at the Point 100 building.  Taylor & Mathis represented the Landlord in these transactions.

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

Buffy Gillette

222 W. Maitland Blvd

Maitland, FL  32751

407.622.6699

www.taylormathis.com

NAI Realvest Negotiates Five Leases totaling 27,457 Square Feet of Industrial space at Goldenrod, Hanging Moss and Monroe CommerCenters in Central Florida

Goldenrod CommerCenter, 1476 North Goldenrod Road, Orlando, FL

Michael Heidrich

ORLANDO, FL– NAI Realvest recently completed five lease agreements, including new, renewal and expansion leases, totaling 27,457 square feet at Goldenrod, Hanging Moss and Monroe CommerCenters in Orange and Seminole counties.

 NAI Realvest Principal Michael Heidrich represented Landlord Monroe North SPE, LLC in a lease renewal agreement with ABM Building Services LLC formerly Linc Services Co. for 10,786 square feet at Monroe CommerCenter North, 4150 Church St. in Sanford.  Katie Trott of CNL Commercial represented ABM.

Hanging  Moss CommerCenter, Orlando, FL

At Monroe CommerCenter South, Heidrich represented Monroe South SPE, LLC, in a renewal and expansion lease agreement with Advantage Medical Systems, Inc. who occupies 4,320 square feet in Suite 1029 but also expanded into Suite 1021 with 2,160 square feet.

 Heidrich also negotiated a renewal of  6,000 square feet in suites 440-460 occupied by Automatic Racing, LLC at Hanging Moss CommerCenter representing landlord Hanging Moss SPE, LLC.

Jason Schrago

  Jason Schrago of CNL Commercial represented the tenant.    In other business for the landlord at Hanging Moss, Heidrich leased 2,000 square feet to a new tenant, Stagg, Inc., a landscape maintenance and irrigation firm.

 A lease renewal was negotiated by Heidrich on behalf of the landlord Goldenrod SPE, LLC at Goldenrod CommerCenter, 1476 N. Goldenrod Rd.  Tenant Mobile Oval Auto Repair LLC occupies Suite 325 with 2,191 square feet. 

  

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

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

NAI Realvest Negotiates Sale of 1.25 Acre Retail Lot in Oviedo, FL for $665,000

Former Bruster's Ice Cream Shop, 1024 Lockwood Boulevard, Oviedo, FL

George Viele

ORLANDO, FL – NAI Realvest recently negotiated the $665,000 sale of 1.25 acres of retail land, the former site of a Bruster’s Ice Cream shop, at 1024 Lockwood Blvd. in Oviedo.  

 George Viele, associate at NAI Realvest, negotiated the transaction representing the seller, Bank of America, NA of Baltimore.

The buyer UP Fieldgate US Investments-Lockwood Blvd. LLC, was represented in the sale by Jared B. Ettinger of Berkshire Realty LLC.    

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

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

NAI Realvest Negotiates New and Renewal Leases at the Citadel International III in southeast Orlando, FL

Citadel International III, 5950 Hazeltine National Drive, southeast Orlando, FL

Mary Frances West

ORLANDO, FL – NAI Realvest recently completed three lease agreements for office space totaling 23,605 square feet at the Citadel International III office building located at 5950 Hazeltine National Drive in Southeast Orlando.

 Senior Associate Mary Frances West, CCIM and Matt Cichocki, principal, negotiated the lease transactions on behalf of the landlord, Citadel Partners, LTD., of Groveland, Fla. 

 The U.S. Dept of Homeland Security, a tenant in the building since 2002, renewed its lease of suite 140 with 19,905 square feet for another long-term.  

Matt Cichocki

A new tenant, Guidance Software Inc., a Pasadena, Calif.-based firm globally recognized as a leader in digital forensics, cyber security and e-discovery solutions, has leased suite 620 with 2,876 square feet.   John Gay of Cresa Orlando and Carlo Brignardello of Cresa Los Angeles represented the tenant.

 Altenesol LLC renewed its lease of suite 290 with 824 square feet.

 NAI Realvest handles management and leasing of the Citadel International III.

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

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