Marcus & Millichap Arranges Sale of Ground-Leased McDonald’s in Sunrise, FL

Douglas K. Mandel

SUNRISE, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the ground lease of a 3,926-square foot McDonald's in Sunrise, FL. The asset sold for $1,065,000.

Douglas K. Mandel, a first vice president investments, and Barry M. Wolfe, a vice president investments, in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a local limited liability company.  Mandel and Wolfe also secured and represented the buyer, a limited liability company from Oakbrook, IL.

Built in 1984, McDonald's is situated on a 0.50-acre parcel and occupies a 3,926 square-foot freestanding building with a drive-thru. McDonald's is located at 10013 Sunset Strip in Sunrise, FL.

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

Ryan Nee

Regional Manager,

Ft. Lauderdale

(954)245-3400
 

Wells Fargo Center Tampa Reaches 93% Occupancy for the First Time in Two Decades

Wells Fargo Center, 100 South Ashley Drive, Downtown Tampa, FL

TAMPA, FL – It took the new ownership only 13 months to bring occupancy at Wells Fargo Center in downtown Tampa to over 90%.  

Larry Feldman

The signature office tower reached 93% occupancy with over 96,000 square feet of leases since Feldman Equities and Tower Realty Partners purchased the Class A office building in January of 2013.

 Larry Feldman, CEO of Feldman Equities who is a co-owner of the building, spearheads leasing efforts.  He attributes their leasing success to aggressive rental rates and the recent renovations to the building. 

“Prospects and tenants have responded favorably to our newest amenities including a state-of the-art fitness center, conference room with a 90” TV and a modern café and internet lounge,” according to Feldman.  

 Located at 100 South Ashley Drive, Tampa, FL 33602, the building is near the Tampa Convention Center in downtown Tampa, the 22-story, 388,000 square foot Wells Fargo Center is one of Tampa’s premier Class A office buildings with unimpeded views of Hillsborough Bay, the Hillsborough River and the Downtown Tampa skyline.  It is anchored by Wells Fargo & Company, Phelps Dunbar and UBS.

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

  Feldman Equities

 Larry Feldman,

727-823-1124

 lfeldman@feldmanequities.com

www.wellsfargocentertampa.com

Kiser Group Brokers $28.85M Sale of Apartment, Mixed-Use Portfolio on Chicago’s North Side

4621-25 North Lincoln and  2259-63 West  Eastwood
in Chicago’s Lincoln Square neighborhood.

      

Lee Kiser

CHICAGO, IL – Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, represented the seller of an eight-building, 236-unit portfolio of apartment and mixed-use properties on Chicago’s North Side. New York-based Pioneer Acquisitions purchased the portfolio for $28.85 million in a sale that closed March 5, 2014.

Family owned for more than 60 years, the portfolio included an apartment building in West Rogers Park; an apartment building and mixed-use retail and apartment property in Lincoln Square; four properties in Ravenswood; and a mixed-use retail and apartment building in Irving Park.

“This rare opportunity attracted several investors,” said Lee Kiser, principal of Kiser Group. He and Michael D’Agostino, managing director of Kiser Group, represented the seller in the transaction. “It’s an enormous portfolio in a strong location with upside potential.

Michael D'Agostino

 “Many of the units are rented at below-market levels, so the buyer could immediately reap additional income by increasing rents,” Kiser added. 

“Also, with some minor renovations, many of the large one-bedroom units could easily be converted into two-bedroom apartments, further adding value and increasing the portfolio’s annual income.”

The seller regularly made upgrades throughout the past six decades, so the buildings have little to no deferred maintenance. All the buildings include coin-operated washers and dryers, private storage lockers, intercom security and secure bicycle areas.

“These high-quality apartments are located in sought-after neighborhoods on Chicago’s North Side,” D’Agostino said. “Also, the large rooms, high ceilings, hardwood floors and irreplaceable vintage architectural details made this portfolio enticing to buyers.”

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

  Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

ZipRealty Names the 5 Most Popular Boston Neighborhoods

  

Joseph Pucillo

 EMERYVILLE, CA – ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), a leading online technology-powered residential real estate brokerage firm and real estate marketing solutions provider, has released a list of the Five Most Popular Boston Neighborhoods, based on user data collected on ZipRealty.com. ZipRealty analyzed the 10 most popular zip codes for saved home searches and their corresponding median sales prices.

 “Boston’s real estate market was very healthy in 2013, performing well above the rest of the nation,” said Joseph Pucillo, Vice President of Brokerage Services for ZipRealty.

 The median home sales price for Boston homes stood at $330,650 in January 2014, a 14% year-over-year increase. That compares to a median home sales price of $259,914 in the combined metros tracked by ZipRealty, a 12.5% year-over-year increase.

 “Housing inventory remained low in Boston last year as well, and continues to trend downward. Inventory fell 21% annually to 17,104 homes at the end of January, whereas the combined inventory for the 24 metros surveyed by ZipRealty were only down 7% year-over-year during the same time period,” added Mr. Pucillo.

 “We expect that demand for Greater Boston real estate will remain strong this year, spurred by the region’s world-class education systems and strong job growth in the medical and biomed sectors. People from all over the world are coming to Boston to study, and many of them stay here after they graduate,” noted Mr. Pucillo.

The 5 Most Popular Boston Neighborhoods are:

Zip Code	Neighborhood	Jan. 2014 Median Home Sales Price	Jan. 2014 YOY Sales Price Change
1) 02127	South Boston	$639,000	99%
2) 02124	Dorchester Center	$288,000	3%
3) 02116	South End, Back Bay	$1.135 million	(-24%)
4) 02122	Dorchester	$275,000	20%
5) 02119	Roxbury	$221,650	6%

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

 Stacey Corso
510.735.2667
scorso@ziprealty.com

Marcus & Millichap Capital Corp. Arranges Financing for $1.28 Million DaVita Dialysis Center Acquisition in Oviedo, FL

  

Jim Sotos

OVIEDO, FL– Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate financing and capital markets expertise, arranged 5-year, fixed rate financing for the acquisition of a newly constructed DaVita Dialysis property in Oviedo, Florida.

               Jim Sotos, a director in MMCC’s Chicago O’Hare office, secured a loan at 69% of the property’s value on behalf of a first time commercial real estate buyer. 

  “The borrower was thrilled that we were able to obtain a 25-year amortization on a 10-year lease at under 3.65%,” says Sotos.

 “Beyond the attractive interest rate and loan terms, the borrower was most impressed with the way we treated her throughout the process,” adds Sotos.

               “Jim’s patience and attentiveness is at the heart of  his reputation and differentiates him in an increasingly impersonal world ,” says MMCC’s central region vice president, Charles Krawitz.

“Jim’s ability to connect on a truly personal level, while securing impressive financing terms makes him a real asset to his clients,” says Krawitz.  

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

Charles Krawitz, Vice President

Marcus & Millichap Capital Corporation

(312) 327-5439

www.mmCapCorp.com

New tenant for Emerson International at Major Plaza I and another tenant expands space in Orlando, FL

Kenneth Koch

Altamonte Springs, FL --- Emerson International has recently negotiated a new lease for agreement with Dunnia Medical Solutions, LLC at Emerson’s Major Plaza I facility in Orlando.

Kenneth Koch, director of leasing at Emerson International, said Dunnia Medical Solutions leased 549 square feet at Major Plaza I located at 5728 Major Blvd. in southwest Orlando.

At the same time, Koch said bankruptcy attorneys Brain Michael Mark, PA expanded their lease and now occupy 2,049 square feet at Major Plaza I.

Emerson International is a wholly owned subsidiary of The Emerson Group, the global corporation that is one of the largest privately-owned property development companies in the U.K. 

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

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

Hold-Thyssen Completes $575,000 Sale of Former Perkins Restaurant Facility in Lake Wales, FL

Therese Taylor

LAKE WALES, FL and WINTER PARK, FL  --- Hold-Thyssen Real Estate Services recently completed a $575,000 cash sale of the 4,543 square foot former Perkins Restaurant facility at 503 Hamlin St. in Lake Wales.

Therese Taylor, leasing agent at Hold-Thyssen in Winter Park, negotiated the transaction representing the Los Angeles-based seller, California Credit Union.

 The buyer, who was not disclosed, plans to redevelop the property for another type of business to be announced in the future, Taylor said.

Hold-Thyssen provides commercial property 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.

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

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

Hendricks-Berkadia Negotiates Sale of 39.5 Acre site in Innisbrook, FL

Hal Warren

TAMPA, FL--- Hendricks-Berkadia Apartment Real Estate Advisors, which ranks as one of the nation’s leading multi-family investment banking and research companies, recently negotiated a $7.1 million sale price for a 39.53-acre development site in north Tampa. 

Cole Whitaker, partner who heads Hendricks-Berkadia’s southeast region, negotiated the transaction along with associate partner Hal Warren in Orlando, representing the seller PNC Bank.    Bruce Erhardt of Cushman and Wakefield represented the buyer, Homes at Westbay, LLC.

Whitaker said the site is located inside Innisbrook in Pinellas County.

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

Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

NAI Realvest Negotiates Sale of Commercial Development Site on Benton Street in Ormond Beach, FL

Chris Butera

Ormond Beach, FL -- NAI Realvest, based in Orlando, recently negotiated the sale of 3.77 acres of commercial land located on Benton Street off of US Hwy. 1 in Ormond Beach. 

 Chris Butera, investment associate at NAI Realvest, brokered the transaction representing both the buyer and the local seller, HGL Investment Group, LLC.

Michael Ferro of Catskills, N.Y. purchased the property for $287,500.

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

Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

Edward R. James Companies Receives Unanimous Approval for Westgate at The Glen in Glenview, IL

  

CHICAGO, IL (March 21, 2014) – Glenview, Ill.-based Edward R. James Companies, a premier developer and homebuilder in Chicago’s northern suburbs and the Midwest, announced the firm received unanimous approval from the Village of Glenview’s Board of Directors for Westgate at The Glen, a 29-acre new-construction residential community in Glenview, Ill.

Westgate at The Glen will be built on the final parcel of land to be developed at The Glen, a 1,100-acre master-planned community on the site of the former Glenview Naval Air Station.

 “Edward R. James Companies is thrilled to be back building at The Glen, having been a part of the initial development with our Southgate community, and now working on what is the final piece of this award-winning master-planned community,” said Jerry S. James, president at Edward R. James Companies.

For more information on Westgate at The Glen, please contact Edward R. James Homes at (847) 724-0200 extensions 221 or 260.

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

Charles Dunn Company Names Lou Zonta as Senior Director/Brokerage and Business Development

  

Lou Zonta

LOS ANGELES, CA, March 21, 2014 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has named industry veteran, Lou Zonta, as senior director/brokerage and business development.

 In his new role, Zonta will specialize in active brokerage and related business development activities for the firm throughout the western region.

Zonta brings more than 30 years of experience in commercial real estate and business development to Charles Dunn with a breadth of expertise that encompasses commercial asset, leasing and brokerage management, as well as senior business development roles in commercial construction. 

He has handled hundreds of commercial real estate assignments for a variety of private and public sector clients including developers, owners and users of office, retail, mixed-use residential and commercial buildings, hospitality projects and high-tech facilities.

“I believe that Charles Dunn Company has the ability to handle its clients’ needs using a vertical marketing strategy for its full-service platform,” said Zonta. “This strategy helps create a brand that establishes the firm as an expert in multiple disciplines.”

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

Darcie Giacchetto

D.G. Communications, Inc.

949.278.6224

McCraney Property Co. Inks 200,000-SF Build-to-Suit Lease in its Bent Oak Industrial Park Project in Central Florida

Rendering of planned Bent Oak Industrial Park project in Central Florida

Steve McCraney

ORLANDO, FL and WEST PALM BEACH (March 21, 2014) – McCraney Property Company (MPC) has signed a 10-year lease for a 200,000-square-foot build-to-suit in its Bent Oak Industrial Park project.

The tenant, Bodek and Rhodes, a national apparel distributor headquartered in Philadelphia, will be relocating its current Orlando warehouse and expanding from 140,000 to 200,000 square feet. The deal is valued at $10,000,000.

“We are very encouraged by the demand for Class A warehouse-distribution product in Orlando,” said Steven E. McCraney, SIOR, CCIM, President and CEO of McCraney Property Company, which is currently developing almost one million square feet of spec industrial in Central Florida. 

“We are also encouraged with the activity from smaller and medium-size users in the 15,000 to 75,000 square foot range.”

James Marvel

 Bent Oak Industrial Park will consist of 700,000 square feet of Class A warehouse-distribution product and includes two state-of-the-art industrial buildings.

Building I will be a 225,000-square-foot, 32’ clear, front-load distribution facility. Building II will be a 475,000-square-foot, 32’ clear, cross-dock distribution facility. Bodek and Rhodes will occupy 200,000 square feet of Building II. 

Construction on both buildings is expected to commence within the next 45 days with occupancy in December of 2014. The site plan has been submitted to the county for approval.

 Bent Oak Industrial Park provides excellent access to major distribution thoroughfares in Central Florida and includes more than 1,200 feet of Florida Turnpike frontage. The prime, fully entitled 39-acre industrial site is adjacent to the Florida Turnpike and Taft-Vineland Road in metro Orlando.

  

MPC’s team, led by Steven McCraney, consisted of James Marvel, Senior Vice President and Chief Financial Officer, and Andrew Jacobson, Vice President of Legal Affairs. They handled all negotiations.

Andrew Jacobson

 The owner’s representatives from Colliers International Central Florida included Matthew Sullivan, Wilson McDowell and Bobby Isola. The Colliers team is the exclusive leasing agent for the project.

 The tenant representatives were Scott Williamson and Rick Schuhwerk of Jones Lang LaSalle. Rich Weisbrod, Vice President of Operations for Bodek and Rhodes, also worked on the deal.

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

Don Silver (donsil@boardroompr.com) or

Ashley Fierman (afierman@boardroompr.com)

Boardroom Communications,

954-370-8999/954-629-7523.

HFF arranges $65 million financing for Burger King portfolio throughout 6 states

Mark West

DALLAS, TX – HFF announced today that it has arranged $65 million in financing for a 99-property Burger King portfolio located throughout six states.

                HFF worked exclusively on behalf of the borrowers, affiliates of Jaylor Services, Inc., to secure a 10-year, fixed-rate, non-recourse loan through Ladder Capital. 

                Of the 99 Burger King locations, four are located in Florida, nine in Mississippi, 22 in Alabama, 57 in Louisiana, four in Missouri and three in Kansas.  All properties are leased on a long-term basis to an affiliate of Strategic Restaurants, a subsidiary of Cerberus Capital Management, L.P. 

                The HFF team representing the borrower was led by senior managing director Mark West and managing director Brandon Chavoya.

                Jaylor Services, Inc. (“Jaylor”) is a management company that oversees the operations of an affiliated group of real estate companies with a portfolio of 133 single-tenant restaurant properties leased on a long-term, absolute-net basis.

Brandon Chavoya

 Jaylor’s principals previously managed the operations of a large, multi-unit Burger King and Chili’s franchisee with more than 300 operating units, and have experience with other real estate properties including retail, residential, office, industrial and hotel.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 | www.hfflp.com

krmurphy@hfflp.com

HSA PrimeCare Completes Sale of 23,000 SF Indianapolis Medical Office Building to Multi-Specialty Surgery Center

  

North Meridian Medical Center, 1061 North Meridian Street, Indianapolis, IN

CHICAGO, IL (March 20, 2014) — HSA PrimeCare, the national health care real estate division of Chicago-based HSA Commercial Real Estate, announced today that the firm has completed the sale of the North Meridian Medical Center at 10601 North Meridian Street in Indianapolis, Ind.

Robert Titzer

The 23,000-square-foot facility, located at the intersection of 106th Street and Meridian Street at the gateway of the North Meridian Medical Corridor, was purchased by Carmel Medical Office Building LLC, an affiliate of Multi-Specialty Surgery Center. The surgery center affiliate is a tenant of the building seeking to expand its current practice.

Built in 1981 and remodeled in 1993, North Meridian Medical Center is a two-story, off-campus medical office building located approximately twelve miles north of Indianapolis’ central business district.

The property is less than one mile south of the 170-bed Indiana University Health North Hospital. The North Meridian Medical Center is also adjacent to the St. Vincent’s Heart Center of Indiana and is less than three miles north of the 776-bed St. Vincent Indianapolis Hospital, which is St. Vincent Health’s flagship facility.

 Robert Titzer, executive vice president with HSA PrimeCare, represented the seller in the transaction.

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

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

Lincoln Property Company Marketing Suburban Atlanta Data Center for Sale

1001 Windward Concourse, Alpharetta, GA

Tony Bartlett

ATLANTA, GA,  March 20, 2014 – On behalf of an institutional owner, Lincoln Property Company Southeast (Lincoln) is marketing for sale a 190,000-square-foot data center in suburban Atlanta.

Located at 1001 Windward Concourse in Alpharetta, in the North Fulton submarket of metro Atlanta, the state-of-the-art, facility is subject to a long-term, credit-tenant lease that runs through 2020.

The facility was built in 1986 for Contel Corp. and sits on a 20.5-acre site that allows for future expansion. It was purchased by its current owner in 1992, and the building has been substantially upgraded since that time. 

The property consists of 45,000 square feet of office space, 115,000 square feet of data center space and 30,000 square feet of support space.

North Fulton is home to one of the highest concentration of corporate data center facilities in the Southeast, and the market’s educated labor force, fiber optic networks and abundant power supply have made this area a mecca for data centers.

“In addition to being great real estate, this facility sits in the hub for data centers in the Southeast and in metro Atlanta. 

"We anticipate the technical attributes of the property combined with the high-credit tenancy will attract a tremendous amount of investor interest,” said Tony Bartlett, senior vice president of Lincoln who oversees the firm’s Atlanta office.

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

Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com