RealtyTrac Analyzes Test Scores for Nearly 25,000 Elementary Schools in U.S.

IRVINE, CA -- RealtyTrac analyzed school test scores for nearly 25,000 elementary schools in more than 7,500 U.S. ZIP codes, along with home price affordability in those same zip codes to identify the top zip codes with the ideal combination of good schools and affordable home prices — and also with low unemployment rates below the national average.

 RealtyTrac also looked at zip codes with good schools and the least affordable home prices.

 Markets with Good Schools and Affordable Homes

• There were 489 zip codes with elementary schools where 2013 test scores were at least one-third higher than their respective state average and where the average price of a residential property required one-third or less of the median household income. These zip codes also had a maximum unemployment rate of 5.9 percent in September.
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• Cities with the highest amount of affordable zip codes with good schools were led by Orlando, Fla., (9), Raleigh, N.C. (8), Phoenix, Ariz., (6), followed by five cities each with five affordable zip codes with good schools: Chandler, Ariz., Colorado Springs, Colo., Grand Rapids, Mich., Lexington, Ky., and Wilmington, N.C.
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• States with the most affordable zip codes with good schools were New York (105), North Carolina (66), Florida (62), Illinois (50), and Michigan (40).
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• The average test score for the best elementary schools in these 359 zip codes was 49 percent higher than their state average.

Top 20 Most Affordable Zips with Good Schools

School Name	City, State	Zip Code	2013 Test Score	Avg Home Price Nov 13 to Oct 14	Affordability: House Payment Pct of Median Income
Trenton Elementary School	Trenton, IL	62293	1.39	$97,480	9.10%
OAKRIDGE ELEMENTARY SCHOOL	OKLAHOMA CITY, OK	73115	1.34	$61,246	10.40%
LAKEVIEW FUNDAMENTAL ELEMENTARY	ST PETERSBURG    , FL	33712	1.40	$56,163	10.82%
Homestead Elementary School	Aurora, IL	60503	1.35	$172,723	11.96%
PINEHURST ELEMENTARY SCHOOL	LAKE VIEW, NY	14085	1.52	$153,143	12.98%
PINE BROOK ELEMENTARY SCHOOL	ROCHESTER, NY	14616	1.51	$89,326	13.34%

BRIARWOOD SCHOOL	ROCHESTER, NY	14617	1.94	$114,562	13.90%
MONICA B LEARY ELEMENTARY SCHOOL	RUSH, NY	14543	1.34	$161,252	14.05%
DEERFIELD ELEMENTARY SCHOOL	UTICA, NY	13502	1.62	$79,197	14.34%
NORTH POINTE ELEMENTARY SCHOOL	Hebron, KY	41048	1.54	$190,429	14.44%
Landmark Elementary School	McHenry, IL	60050	1.37	$134,143	14.55%
WEEDSPORT ELEMENTARY SCHOOL	WEEDSPORT, NY	13166	1.33	$106,471	14.66%
DONALD E CLINE ELEMENTARY SCHOOL	Cold Spring, KY	41076	1.53	$119,423	14.77%
Greenmont Elementary School	Vienna, WV	26105	1.60	$96,812	14.97%
WOODCREST ELEMENTARY SCHOOL	MIDLAND, MI	48640	1.50	$114,348	15.03%
LOCKWOOD ELEMENTARY SCHOOL	EATON RAPIDS, MI	48827	1.45	$115,438	15.08%
Chatham Charter	Siler City, NC	27344	1.40	$86,018	15.09%
JOHN A SCIOLE ELEMENTARY SCHOOL	DEPEW, NY	14043	1.51	$105,086	15.14%
JOHN W REILEY ELEMENTARY SCHOOL	Alexandria, KY	41001	1.46	$148,203	15.16%
FOSTER ELEMENTARY SCHOOL	Pittsburgh, PA	15234	1.34	$122,815	15.19%

School Name

Markets with Good Schools and Unaffordable Homes

School Name

• There were 127 zip codes with elementary schools where 2013 test scores were at least one-third higher than the state average and where the average price of a residential property required two-thirds or more of the median household income. These zip codes also had a maximum unemployment rate of 5.9 percent in September.

·         Cities with the most unaffordable zip codes with good schools were New York, N.Y. (22), San Francisco, Calif., (8), Flushing, N.Y., (4), Newport Beach, Calif., (4) Oakland, Calif., (4),  San Jose, Calif., (4), and Portland, Ore., (3).

·         States with the most unaffordable zip codes with good schools were California (69) and New York (44). No other states had more than three unaffordable zip codes with good schools.

·         The average test score in these 91 zip codes was 60 percent higher than their state average.

Top 20 Least Affordable Zips with Good Schools

School Name	City, State	Zip Code	2013 Test Score	Avg Home Price Nov 13 to Oct 14	Affordability: House Payment Pct of Median Income
PUBLIC SCHOOL 130 HERNANDO DESOTO SCHOOL	NEW YORK, NY	10013	1.83	$3,192,779	333.64%
PUBLIC SCHOOL 184 SHUANG WEN SCHOOL	NEW YORK, NY	10002	2.28	$1,016,878	226.55%
Newport Elementary	Newport Beach, CA	92661	1.36	$2,458,129	200.81%
Ross Elementary	Ross, CA	94957	1.45	$3,289,655	186.90%
AMAGANSETT SCHOOL	AMAGANSETT, NY	11930	1.70	$1,958,438	183.16%
TAG YOUNG SCHOLARS JUNIOR HIGH SCHOOL	NEW YORK, NY	10029	2.32	$791,354	182.01%
Chin (John Yehall) Elementary	San Francisco, CA	94133	1.64	$1,128,933	169.98%
PUBLIC SCHOOL 33 CHELSEA PREP	NEW YORK, NY	10001	1.38	$1,786,165	168.64%
North Hillsborough	Hillsborough, CA	94010	1.59	$2,159,023	164.99%
HARLEM SUCCESS ACADEMY CHARTER SCHOOL	NEW YORK, NY	10026	2.17	$853,792	145.93%
EAST VILLAGE COMMUNITY SCHOOL	NEW YORK, NY	10009	1.33	$1,164,649	141.82%
Harbor View Elementary	Corona Del Mar, CA	92625	1.46	$2,285,957	140.88%
Top of the World Elementary	Laguna Beach, CA	92651	1.45	$1,816,130	139.56%

PUBLIC SCHOOL 3 CHARRETTE SCHOOL	NEW YORK, NY	10014	1.87	$1,966,927	134.47%
SPRUCE STREET SCHOOL	NEW YORK, NY	10018	1.78	$1,599,824	130.96%
PUBLIC SCHOOL 212 MIDTOWN WEST SCHOOL	NEW YORK, NY	10036	1.96	$1,160,448	130.31%
R. Roger Rowe Elementary	Rancho Santa Fe, CA	92067	1.53	$2,605,798	129.64%
Newport Heights Elementary	Newport Beach, CA	92663	1.35	$1,540,617	128.66%
PUBLIC SCHOOL 40 AUGUSTUS STREET GARDENS	NEW YORK, NY	10003	2.01	$1,630,859	127.75%
Sherman Elementary	San Francisco, CA	94123	1.42	$1,937,922	127.47%

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

Ginny Walker

Office: 949.502.8300 ext. 268

Mobile: 323-317-5852  

ginny.walker@realtytrac.com

  

Cousins Properties Announces Retail Property Dispositions

ATLANTA, GA  -- Cousins Properties Incorporated (NYSE: CUZ) announced today the sale of five Publix-anchored shopping centers for $79.5 million.

With these dispositions, Cousins has successfully completed its previously announced strategic exit from retail property ownership.

The five retail centers were owned in two joint ventures with Watkins Retail Group and consisted of approximately 486,000 square feet. The centers were sold in a single transaction to one purchaser and generated approximately $34.5 million in net proceeds to Cousins.

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, primarily invests in Class-A office assets located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina.

The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousinsproperties.com.

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

Cousins Properties Incorporated

Marli Quesinberry, 404-407-1898

Director of Investor Relations

marliquesinberry@cousinsproperties.com

JLL Land Sale Brings Tractor Supply Co. Distribution Center to Casa Grande, AZ; Retailer to build 650,000 SF within Central Arizona Commerce Park

Bill Honsaker

 PHOENIX, AZ– The Phoenix office of JLL has completed a 100-acre land sale that will bring a new Tractor Supply Company (NASDAQ: TSCO) distribution center to the Central Arizona Commerce Park in Casa Grande, Arizona.

Tractor Supply, the largest rural lifestyle retail store chain in the United States, will build an approximately 650,000-square-foot distribution center, with the potential to create more than 250 local jobs.

The building will sit within the Central Arizona Commerce Park, a 416-acre rail-served industrial park near the confluence of I-8 and I-10, between Phoenix and Tucson, and with direct access to the state’s main rail line.

“It is exciting to welcome Tractor Supply and to continue to bring manufacturing and distribution-focused companies together in Casa Grande,” said JLL Managing Director Bill Honsaker.

Anthony Lydon

“Central Arizona Commerce Park is about making connections – connections that link West Coast ports inland and that deliver the benefits of this very strategically located, cost effective and business-forward environment.”

Honsaker, along with JLL Managing Directors Anthony Lydon and Marc Hertzberg, are the exclusive brokers for Central Arizona Commerce Park.

 According to JLL, the multi-phase park is designed to accommodate both large and smaller users, supported by a strong local workforce and complimenting other nearby major corporate neighbors such as Frito Lay, Walmart and Abbott Labs.

“Central Arizona Commerce Park has great value in the supply chain for many major companies, and the support of a City that is extremely welcoming of new companies and new opportunities,” said Jackob Andersen, Principal of Central Arizona Commerce Park. “We are thrilled to join the city, the state and our project partners in welcoming Tractor Supply Company to the property.”

Marc Hertzberg

Tractor Supply celebrated its project groundbreaking event today, November 17, at the Casa Grande site. The facility is expected to begin operating in the fourth quarter of 2015.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Winter & Co. Brokers $13,253,000 ground-up construction loan of 31 townhome-style condominium units in Clinton Hill, Brooklyn, NY

Rendering of planned 31 townhome-style condominium units, Clinton Hill Neighborhood, Brooklyn, NY

NEW YORK, NY --  Winter & Company has arranged a $13,253,000 construction loan for an active developer for the ground-up development of 31 townhome-style condominium units in the Clinton Hill neighborhood of Brooklyn, close to the Barclay Center.

Gregg Winter

The 36-month construction loan represents 70% loan-to-cost and 74% loan-to-stabilized value (based upon the finished property’s hypothetical value as a rental).

The development is very efficiently designed maximizing sellable square footage and minimizing common areas and is located close to major subways. 

The design of the units was also intended to integrate with the scale of style of the townhouses in the neighborhood.

Winter & Company is a Manhattan-based, commercial mortgage advisory firm that specializes in arranging development and construction financing (as well as joint venture equity for new developments), multifamily and mixed-use property financing and arranging cooperative underlying mortgages since 1989.

Its affiliate, W Financial Fund, LP is a direct private bridge lender providing short-term, special situation financing primarily for NYC multifamily and mixed-use properties since 2003.

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

Gregg Winter - President

Winter & Company

Creative Minds | Unparalleled Service ®

149 Madison Avenue, Seventh floor

New York, NY 10016

Phone: 212 532-1122 x1

Email: gregg@winterandcompany.com

http://www.winterandcompany.com

Lincoln Property Company Southeast Wins Leasing Assignments for 625,000 Square Feet of Office Buildings in Metro Atlanta

Matt Davis

ATLANTA, GA – The Atlanta office of Lincoln Property Company Southeast (Lincoln) has secured leasing assignments with five new clients for approximately 625,000 square feet of office properties throughout metro Atlanta.

Matt Davis, Lincoln’s new vice president of office leasing, and Jeff Henson, a senior associate in Lincoln’s Office Leasing Group, will oversee the leasing of these properties. The buildings include the following properties:

·      2300 Satellite Place in Duluth. The Dennis Group is the owner.

·      Kings Landing in Roswell. Compass Real Estate is the owner.

·      Governors Lakes 100 and 200 and Jefferson Plaza in Norcross. Interlock Industries is the owner.

·      Cobb Corporate Center in Marietta and Northwoods Commons in Norcross. Petrus Partners is the owner.

·      Peachtree Corners Corporate Center II and III, 5051 Peachtree Corners Circle, 10700 Abbotts Bridge Road and 303 Research Drive in Norcross. Continental Property Group is the owner.

Jeff Henson

“We are extremely pleased to be working on these quality assets and with these outstanding owners,” said Tony Bartlett, senior vice president for Lincoln who oversees the Atlanta office.

“Matt and Jeff bring the highest level of expertise to these assignments, and their owner-centric approach will enable these properties to thrive and will generate outstanding returns for these landlord clients.”

Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, employing over 6,800 people in 32 states and 10 countries in Europe.

 Since its inception in 1965, Lincoln has developed over 128 million square feet of office, industrial, and retail projects as well as 209,000 apartment units.

Tony Bartlett

Stemming from its development and ownership background, Lincoln's operating platform seamlessly integrates its various service lines, provides for consistent and measurable performance and utilizes cutting-edge technology over its 350+ million square feet of managed assets.

  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

MHA Brokers $33.1 Million Sale of Birmingham, AL Apartment Complex

Jimmy Adams

BIRMINGHAM, AL — Multi Housing Advisors (MHA) has arranged the $33.1 million sale of Springs at Trussville, a 328-unit apartment community at 3539 Mary Taylor Road in Birmingham.

 Jimmy Adams of MHA’s Birmingham office represented the seller, Continental 166 Fund LLC, in the transaction.

“The flight to quality continues in the marketplace, particularly to growing areas like Trussville,” Adams said. “Springs at Trussville is close to major retail along U.S. 11 and consistently enjoys very high occupancy at 95 percent or above. Investors can still make good returns on higher-class properties in secondary locations.”

Somerset Partners LLC acquired the 21.43-acre property, built in 2007, at a 6.4 percent cap rate. The gated community includes a clubhouse, car care center, 24-hour fitness center, resort-style pool and a business center with free Wi-Fi and computer access.

  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

MHA Brokers Two Multifamily Sales in the Carolinas Totaling More Than $20 Million

Marc Robinson

CHARLOTTE, NC (Nov. 19, 2014) — Multi Housing Advisors (MHA) has arranged two multifamily sales in the Carolinas totaling $20.18 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

The details of the sales are as follows:

·      Hemrick Properties LLC sold the 168-unit Summer Chase, located in Little River, South Carolina, for $11.1 million. Hudson Capital Investments LLC and Apex One purchased the property, built in 2000.

·      Spyglass Capital Partners sold the 168-unit Hawk Ridge, located in Winston-Salem, North Carolina, for $9.08 million. Peak Capital acquired the property, which was built in 1998.

Jordan McCarley

Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast.

 Since that time, MHA has created value for clients in virtually every sector of the multi-housing market.

 The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.

MHA enjoys a total sales transaction volume that has surpassed $3.5 billion, representing more than 100,000 units and more than 600 individual transactions.

MHA serves local, regional and national clients and has become known for its effective multi-office platform, excellent transaction history and rapid growth.

  

For more information, visit www.usmha.com.

  

 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

Lincoln Harris Brokers Piedmont Natural Gas’ Expansion at One Piedmont Town Center in Charlotte, NC

Campbell Walker

CHARLOTTE, NC  (Nov. 19, 2014) — Campbell Walker and Jubal Early of Lincoln Harris’ Charlotte office have arranged Piedmont Natural Gas’ 7,206-square-foot expansion at One Piedmont Town Center, Class-A office building in the SouthPark submarket of Charlotte.

The natural gas distributor will now occupy a total of 140,000 square feet in the office building, which is part of the Piedmont Town Center mixed-use development.

Walker, senior vice president of leasing for Lincoln Harris, represented the landlord, Piedmont Row Drive LLC, in the transaction, and Early, also a senior vice president, represented the tenant.

“Piedmont Natural Gas loves the ‘eat, work, play’ atmosphere at Piedmont Town Center,” Walker said. “We are excited to see tenants expanding in the market. It’s a true testament to Charlotte’s growing economy and bodes extremely well for the rest of 2014 and for 2015”

Jubal Early

The 212,462-square-foot One Piedmont Town Center is located at 4720 Piedmont Row Dr. in Charlotte. 

  Piedmont Town Center is a Class A mixed-use development project in the heart of the SouthPark community featuring two office buildings totaling a combined 420,000 square feet, 87,500 square feet of prime retail space and 180 luxury residential units.

 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

Atlanta Apartment Association’s Partner Georgia Apartment Industry Education Foundation Donates $3,000 to Athens Community Career Academy

Dave Stockert

ATLANTA, GA — The Georgia Apartment Industry Education Foundation (GAIEF), a partner of the Atlanta Apartment Association (AAA), has donated $3,000 to the Athens Community Career Academy.

Dave Stockert, chairman of GAIEF as well as president and CEO of Post Properties, presented the academy with the check during Lt. Gov. Casey Cagle’s annual Business and Education Summit, held on Thursday at the Rockdale College and Career Academy.

The donation was a reward for the school being named the Career Academy of the Year at the event.

"We are fortunate to partner with college and career academies across our state that are preparing students for careers in all sectors of industry,” Stockert said. “A trained workforce is vital to economic development. A healthy and vibrant workforce enables the apartment industry to thrive."

The AAA is GAIEF’s largest source of funding. AAA made $150,000 contribution in 2014 alone.

“Many AAA members are intimately involved with the career academies in Georgia and GAIEF’s donation to the Athens Community Career Academy helps ensure that our industry, our region and our state is equipped with a workforce able to meet  the demands of the 21st Century,” said, David Hirsch, Chairman of AAA and ECI Group Inc.

 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

Ackerman & Co. Sells Westside Center in Alpharetta, GA for $7.4 Million

Westside Center, 10745 Westside Way, Alpharetta, GA

Atlanta,GA – Ackerman & Co. and affiliates have sold Westside Center, 10745 Westside Way in Alpharetta, Ga., for $7.4MM ($122 per square foot).

 Westside Center, a three-story, class “A” office building, was purchased by Ackerman in 2012 and underwent considerable capital improvements. 

The 60,500-square-foot building was 89 percent occupied at the time of sale by high-quality tenants VT Group and REACH Health, among others.

 GASCO Real Estate Holdings LLC, a private investment group, purchased the property. Transwestern’s Kevin Markwordt brokered the sale on Ackerman’s behalf. Paul Hanna from Jones Lang LaSalle represented the buyer.

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

Fara Wilson

Vice President, Marketing

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

www.ackermanco.com