Thursday, May 14, 2015

HFF closes sale of Mercato mixed-use retail lifestyle center in Naples, FL


Mercato Shopping Center, 9115 Strada Place, North Naples, FL


Kim Flores
MIAMI, FL– Holliday Fenoglio Fowler, L.P. (HFF) announced  it has closed the sale of Mercato, a 456,359-square-foot, mixed-use retail lifestyle center in Naples, Florida. 

HFF marketed the property on behalf of the seller, a partnership between Madison Marquette, Barron Collier Companies and The Lutgert Companies.          
   
Mercato is an upscale, pedestrian-friendly, mixed-use lifestyle center with 321,119 square feet of retail and 135,240 square feet of Class A office space.

 Built between 2007 and 2009, the project is comprised of 14 open-air buildings and 2,103 parking spaces with room for future development.  Mercato is the sole southwest Florida location of Whole Foods, the 12-screen Silverspot Cinema and Nordstrom Rack, which anchor the center.

 The center houses its national anchors in addition to other national and regional retailers including Sur La Table, Jos. A Bank, Tommy Bahama, Z-Gallerie, Sperry and Ulta Salon, and more than 17 restaurants, including The Capital Grille, McCormick & Schmick’s, Chipotle and Bravo! Cucina Italiana. 


Manuel de Zarraga
Free musical concerts, movies on the lawn, festivals and special events fill Mercato’s event schedule.  Situated on 41.65 acres at 9115 Strada Place in the heart of north Naples, the center is at the intersection of Tamiami Trail (U.S. 41) and Vanderbilt Beach Road. 

The HFF team representing the seller was led by senior managing director Daniel Finkle, executive managing director Manuel De Zárraga, managing director Luis Castillo and director analyst Kim Flores.

 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

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com





HFF closes sale of Orlando, FL power center


International Drive Value Center, 5295 International Drive, Orlando, FL

 
ORLANDO, FL, May 14, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of International Drive Value Center, a 185,704-square-foot, 98.2-percent-leased power center in Orlando, Florida.

Brad Peterson
HFF arranged the sale of the property on behalf of the seller, a partnership between Weingarten Realty Investors and an institutional partner. 

International Drive Value Center is anchored by multiple national and regional tenants, including Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx, dd’s DISCOUNTS, Five Below and Dollar Tree.  The center spans 22.6 acres and is located at 5295 International Drive.  

The property is approximately six miles from downtown Orlando, 8.5 miles northeast of Walt Disney World® and less than one mile southeast from Universal Studios. 

The HFF investment sales team representing the seller was led senior managing director Brad Peterson, associate director Whitaker Leonhardt and real estate analysts Michael Brewster and Anthony Frogameni.

“International Drive Value Center is an iconic fixture on northern International Drive, which is one of the most recognizable and highly sought after entertainment and shopping destinations on the East Coast,” Peterson said.  

“Orlando’s booming tourism industry and overall economic health have had a profound effect on the success of shopping centers across Orlando’s tourist corridor, especially International Drive Value Center.” 

 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

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com



HFF closes $11.2 million sale of 3-building industrial portfolio in Washington state

  
West Valley Distribution Center, 72nd Avenue South and West Valley Highway
Seattle/Puget Sound Region, Washington State

PORTLAND, OR – May 14, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $11.2 million sale of a three-building light manufacturing, flex and distribution portfolio totaling 138,296 square feet in the Seattle/Puget Sound region of Washington state.

Nicholas Kucha
 HFF marketed the property on behalf of the seller, a partnership between ScanlanKemperBard Companies and funds managed by Oaktree Capital Management, L.P. (Oaktree).  Industrial Property Trust Inc. (IPT) purchased the assets.   

 Located in the northern part of Kent, the portfolio consists of buildings I, III and V in the West Valley Distribution Center located at 72nd Avenue South and West Valley Highway. 

West Valley I & V are 100 percent leased to a diverse group of tenants spanning the manufacturing, distribution and construction industries.  West Valley III is a flex facility that is currently vacant but has the potential be divided into five tenant spaces and have rail access.

 The HFF investment sales team representing the seller was led by managing director Nicholas Kucha and senior real estate analyst James Childress with co-broker Wilma Warshak of Washington Real Estate Advisors.
  
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

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com



Pangea Properties Named Winner of 2015 Good Neighbor Awards on Chicago’s South and West Sides for fourth consecutive year


Steve Joung
                                                                                              CHICAGO, IL – Chicago-based Pangea Properties is pleased to announce it has been named the recipient of three Good Neighbor Awards from the Chicago Association of REALTORS®, which recognizes outstanding rehabilitation and redevelopment efforts that contribute to the economic vitality of neighborhoods throughout Chicago and the greater metropolitan area.

This marks the fourth consecutive year Pangea has received the honor, reflecting the firm’s continued commitment to developing and preserving quality, workforce housing in some of Chicago’s most underserved communities.

“We believe that by investing in individual properties, many of which are board-ups, we can revitalize entire neighborhoods and make them a place Chicagoans are proud to call home,” said Steve Joung, CEO of Pangea Properties.

Chicago's South Loop District
“These awards are a testament to the tireless efforts of our team, which to date has rehabilitated more than 7,000 rental units throughout the Chicago area. 

"They also prove that each project matters, regardless of scale. One of our winning communities has just 13 units, showing how important even the smallest buildings can be in turning around a neighborhood.”

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


Abe Tekippe, atekippe@taylorjohnson.com  (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com (312) 267-4527


Marcus & Millichap Promotes Hessam Nadji to Senior Executive Vice President


Hessam Nadji
CALABASAS, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that Hessam Nadji has been promoted to senior executive vice president, according to John J. Kerin, chief executive officer and member of the firm’s board of directors.

        Mr. Nadji joined Marcus & Millichap in 1996 and currently serves as its chief strategy officer and senior vice president responsible for the firm’s specialty brokerage divisions as well as research, advisory services and marketing.

 He will now also be responsible for overseeing the firm’s mortgage brokerage operations, as well as certain corporate functions.

        “Hessam has been an integral member of our team during his successful 19-year tenure with the firm,” says Kerin. 

“He was instrumental in crafting our current strategy and growth plan.  Given his exceptional leadership track record, we believe he is the perfect choice to take on additional responsibilities as we continue to focus on growing our market share in our core private client business, specialty brokerage divisions and mortgage brokerage division, Marcus & Millichap Capital Corporation (MMCC). 

       Prior to joining Marcus & Millichap, Mr. Nadji was senior vice president at Grubb & Ellis. Mr. Nadji received a Bachelor of Science degree in information management and computer science from City University in Seattle.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Wednesday, May 13, 2015

Feldman Equities Snags Five New Deals at First Central Tower in Downtown St Petersburg, FL


First Central Tower,
Downtown St. Petersburg, FL
ST. PETERSBURG, FL – Feldman Equities has hit the ground running with their newest acquisition in downtown St Petersburg. They have signed five firms to new leases totaling nearly 40,000 square feet at the office building.

New York based Twinlab Consolidation Corporation (“TCC”) announced last month that it would relocate its integrated corporate headquarters from New York to downtown St. Petersburg, Florida later this year. 

The health and wellness company leased two floors totaling 30,600 square feet at First Central Tower.

  Sanford Mahr of The Mahr Company acted as the broker for TCC in their expansion to St. Petersburg. 

 Four other deals have also been signed at the office building which is undergoing a multi-million dollar renovation.

 Innovative Medical Risk Management elected to stay downtown relocating two blocks north to First Central Tower.   The 3,000 square foot lease was brokered by Jimmy Ullrich and Andrew Medley of JLL.

 Rebein Bangerter Rebein PA with offices in Tampa and Dodge City, Kansas is opening a St. Pete office leasing 2,605 square feet in a deal brokered by Jon LaBudde of Vector Commercial Real Estate Services.

 Avid Advisory and Investment Group has elected to relocate within downtown St. Pete leasing 1,736 square feet in a deal brokered by Mike Heretick of Vector Commercial Real Estate Services.

 Pipas Law Group also elected to relocate within downtown St Pete leasing 1,479 square feet in a deal brokered by Peter Fischbach of Fischbach Commercial.

Larry Feldman
“Downtown St. Petersburg is a terrific location for our company which is focused on health and wellness,” said TCC CEO Tom Tolworthy. 

Like New York, St. Pete is a truly “walkable downtown” with hundreds of acres of dedicated city parks that run along the waterfront.  

Within walking distance from First Central Tower, there are 7 museums, over 45 restaurants, a theater for the performing arts, a major league baseball stadium, soccer stadium and nearly a dozen marinas. 

TCC expects to bring 80 employees to the area - many through relocation from New York City, Grand Rapids, and Utah and numerous others, which are expected as new hires from the local area.

“We are thrilled these companies have chosen First Center Tower,” stated Larry Feldman, CEO of Feldman Equities, LLC one of the building’s owners.  “We have been bullish on the downtown St. Pete market as evidenced by our purchase of three of its signature office buildings over the past few years.” 

A joint venture consisting of affiliates of Feldman Equities, Tower Realty Partners and Second City Real Estate acquired First Central Tower, a 17-story, 250,000 square foot office building late last year. The group intends to invest nearly $10 million dollars in building renovations and tenant improvements including a state of the art fitness center.
  
 For a complete copy of the company’s news release, please contact:


Feldman Equities - Larry Feldman, 727-823-1124 lfeldman@feldmanequities.com

Tuesday, May 12, 2015

EXN Nutrition, New Door Distribution and Hospital Corporation of America Lease a Combined 56,000 Square Feet of Space at Miramar Park of Commerce in Miramar, FL

  



 MIRAMAR, FL – Miramar Park of Commerce, the largest locally owned and managed Business Park in South Florida, announces more than 56,000 square feet of new tenant leases:

Ryan Goggins
 EXN Nutrition, a leading Broward County-based chain of nutrition stores carrying a wide selection of vitamins and sports nutrition products, has leased 29,345 sq. ft. of space in MPC-17 at 10431 N Commerce Parkway.

With ten locations across South Florida, the brand provides consumers with the products necessary to reach their health, fitness and nutrition goals at wholesale prices.

 As authorized international distributors for multiple American Sport Supplement brands around the world, EXN will utilize the warehouse and office space at the Park for distribution purposes. Ryan Goggins of Sunbeam Properties and Carlos Velasquez of Vivo Real Estate Group represented the Park in the transaction. Representing EXN Nutrition was Michael Waite of The Easton Group.

Michael Waite
New Door Distribution, a subsidiary of Unified Door and Hardware Group, is one the group’s established companies providing high quality commercial doors and hardware for use in commercial and institutional construction. 

The company has leased 19,676 square feet of space in MPC-11C at 2705 N Commerce Parkway and will use the office and warehouse space for the modification and distribution of doors and hardware.

 Representing the Park in the transaction were Goggins and Velasquez and representing New Door Distribution was Matthew Jones of Levy Realty.

 A division of Hospital Corporation of America (HCA), ASD Shared Services LLC has leased 7,893 square feet of space in MPC-20A at 2824 Corporate Way. The new space houses administrative offices to support outpatient surgical centers.

Representing the park in the transaction were Goggins and Jonathan Kingsley of Colliers International South Florida LLC and representing ASD Shared Services was John Vincent of Florida Medical Space.

This year the Miramar Park of Commerce, consisting of more than five million square feet of warehouse, flex and office space, is celebrating 30 years of serving the community.  The Park is currently leased at 97 percent.

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

 Kate Gallagher

Pierson Grant Public Relations


954-776-1999, ext. 242

HSA Commercial Signs Long-Term Lease Renewal with Banning Engineering at Gateway Industrial Park in Plainfield, IN


Jeff Banning
INDIANAPOLIS, IN (May 12, 2015) — HSA Commercial Real Estate today announced the firm has executed a long-term lease renewal with Banning Engineering at 853 Columbia Road in the Gateway Industrial Business Park in Plainfield, Ind. 

Banning, a civil engineering and surveying firm which occupies 16,000-square-feet in the first distribution facility to be constructed at the 13-acre business park in suburban Indianapolis, was an original tenant of the project in 2004.

The Gateway Industrial Business Park, which is owned and managed by HSA Commercial, has since expanded to include a 121,000-square-foot multi-tenant second phase that was built in 2006, a 34,880-square-foot facility occupied by the Federal Aviation Administration, and a 220,000-square-foot speculative warehouse that HSA built in partnership with Great Point Investors LLC in 2014.

 “Banning Engineering is happy to extend our commitment to Plainfield and Hendricks County through the renewal of our office lease in Gateway Industrial Park,” said Jeff Banning, president and founder of Banning Engineering. “For our entire 21 years of existence, our company has proudly maintained its offices in Plainfield, and we look forward to many more years to come.”

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


   Kim Manning, kmanning@taylorjohnson.com  312-267-4527

Marcus & Millichap Arranges Sale of 48-Unit Apartment Building in Lauderdale Lakes, FL for $3.4 Million


Tal I. Frydman
LAUDERDALE LAKES, FL, May 12, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Palm Grove Apartments, a 48-unit apartment property located in Lauderdale Lakes, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

 The asset sold for $3,400,000.

Derek R. Gibbs and Daniel J. Cunningham, senior associates, and Tal I. Frydman, first vice president investments in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a partnership from Lauderdale Lakes, Fla and the buyer, a limited liability company from Boca Raton, Fla.

“A rising tide of rental housing demand is lifting all properties in the Broward County, including the older and smaller buildings that dominate this segment of the market,” says Gibbs. 
“We are seeing a rise in trades in the $1 million to $5 million tranche to small, predominantly local investors” adds Cunningham.

Derek R. Gibbs
Palm Grove is a 48-unit apartment community built in 1973 of concrete block and painted stucco exterior.

 The property consists of three two-story buildings with 35 two-bedroom/one-bathroom units and 13 one-bedroom/one-bathroom units.

 The community is situated on 1.54 acres with ample parking on both the north and south side of the property.

The residents of Palm Grove enjoy immediate access to the Florida Turnpike, US 441 and Interstate 95. The immediate area surrounding the property is comprised of single-family homes, townhouses and other rental communities.

Palm Grove Apartments is located at 3380-3390 NW 30th Street in Lauderdale Lakes, Fla.

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

Ryan Nee
Regional Manager, Fort Lauderdale

(954) 245-3400

Monday, May 11, 2015

HFF closes $22.5 million sale of Publix at Sunrise in Fort Lauderdale, FL market


Publix at Sunrise, Fort Lauderdale, FL


MIAMI, FL, May 11, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $22.5 million sale of Publix at Sunrise, a 44,840-square-foot, single-tenant, net-leased Publix Supermarket in Fort Lauderdale, Florida. 

Daniel Finkle
HFF marketed the property on behalf of the seller, Stiles Corporation.  Publix Super Markets, Inc. purchased the asset free and clear of existing debt.

Completed in 2004, Publix at Sunrise is situated on 3.48 acres at 1415 East Sunrise Boulevard in Fort Lauderdale, the second largest city in South Florida. 

There are 61,566 households with an average annual income of more than $71,000 living within a three-mile radius, and the property is situated on Sunrise Boulevard, which has an average traffic count of more than 110,000 vehicles per day. 

Publix at Sunrise is 2.5 miles from Interstate 95 and approximately one mile north of Fort Lauderdale’s Central Business District.
          
The HFF team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.

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
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF closes sale of 27-building industrial portfolio in Dallas and Houston


27-Building Industrial Portfolio in Dallas-Fort Worth and Houston, TX markets

 DALLAS, TX, May 11, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a 27-building, 2.35 million-square-foot, 95.6-percent leased industrial portfolio located in the Dallas-Fort Worth area and Houston, Texas.

Randy Baird
HFF marketed the portfolio on behalf of the seller, a partnership between Mayfield Properties, LP and AB Real Estate Group.  A private fund advised by Crow Holdings Capital – Real Estate (CHC-RE) purchased the assets for an undisclosed amount.

 The eight Dallas-Fort Worth properties are located in the DFW Airport North, Great Southwest, Valwood and West Brookhollow industrial markets. 

 The 11 buildings are 98.1 percent leased and total 1.015 million square feet. 

 The facilities are located at 1375 Avenue South and 1002 Avenue T in Grand Prairie; 2400 Centennial Drive in Arlington; 5101 Statesman Drive in Irving;

1625 Vantage Drive in Carrollton; 12901 Nicholson Road (three buildings) in Farmers Branch; 601-625 Mockingbird Road (two buildings) in Dallas and 8601 Ambassador Row, also in Dallas.

The eight Houston facilities are located in the Northwest and Southwest industrial markets and total 16 buildings with 1.335 million square feet. 

 The 93.6-percent leased portfolio is comprised of the 1801 West Sam Houston Parkway property; the two-building Greengrass Drive facility at 1401-1431 and 1501-1527 Greengrass Drive; 401-421 West Crosstimbers Street; the four-building Willowbrook facility with 8270 and 8280 Willowbrook Place North, 9305-9323 Millsview Road and 13161-13175 Misty Willow Drive;

Rusty Tamlyn
and the two-building Wynnwood Park at 7215 Wynnwood Lane and 7240 Wynnpark Drive in Houston; the three-building Julie Rivers property at 505 and 525 Julie Rivers Road and 12505 Reed Road in Sugar Land;

and the two Corporate IV buildings at 12603 and 12613 Executive Drive and the 4000 Greenbriar property in Stafford.

 The HFF investment sales team representing the seller was led by senior managing directors Randy Baird and Rusty Tamlyn, managing director Jud Clements, directors Trent Agnew and Robby Rieke and real estate analysts Stephen Bailey and John Rogers.

 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
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

www.crowholdingscapital-re.com

Lexington Homes Tops 50 Percent Sales at Lexington Square3 Townhomes in Bridgeport, IL


Jeff Benach
CHICAGO, IL– Continuing to meet the needs of Chicago homebuyers drawn to the Bridgeport neighborhood, Chicago-based Lexington Homes is about to start construction on Lexington Square3, a community of 20 three-bedroom townhomes. 

Already 50 percent sold, Lexington Square3 is the builder’s third townhome community in Bridgeport. 

 Located between South Morgan and South Sangamon streets, Lexington Square3 is just west of U.S. Cellular Field. 

“Over the past six years, Lexington Homes has helped transform this area of Bridgeport into a family-friendly community through the construction of its Lexington Square communities. Once construction is complete at Lexington Square3, Lexington will have built and delivered a total of 83 townhomes in the area,” said Jeff Benach, co-principal of Lexington Homes.

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

Kelly Shumaker kshumaker@taylorjohnson.com (312) 267-4519

Emily Johnson, ejohnson@taylorjohnson.com (312) 267-4522


First Phase of Luxury Condominiums Now Move-In Ready at Clocktower Pointe in Countryside, IL

  
Peter Brennan
 CHICAGO, IL – Helping ease the Chicago region’s tight housing inventory, Hinsdale, Ill.-based Foxford Communities has announced that it has completed construction on the second building at Clocktower Pointe, its luxury condominium development in Countryside, Ill.

Located at the intersection of Joliet and Willow Springs roads, Clocktower Pointe will feature six six-story buildings upon completion comprising a total of 108 condominiums.

 Homes offer 1,882 to 2,267 square feet with two to three bedrooms and 2 to 2½ baths. Prices range from $359,900 to $589,000.

 “With only four units per floor, and only two on the penthouse level, Clocktower Pointe offers every buyer a corner unit, with windows galore,” said Peter Brennan, president of Foxford Communities.

“It’s an ideal community for those looking to downsize from the upkeep of a single-family home without sacrificing square footage. When you combine Clocktower Pointe’s high-end features with the property’s convenient location - only 30 minutes from downtown Chicago - it’s also a smart location for commuters.”

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

Kelly Shumaker kshumaker@taylorjohnson.com (312) 267-4519


Kim Manning, kmanning@taylorjohnson.com (132) 267-4527

Demand in Full Bloom for Chicago-Area Townhomes


Jerry S. James
 CHICAGO, IL (May 11, 2015) – With flowers sprouting across the Chicago area, homebuyers and renters alike are looking to townhomes for a fresh start this spring at an affordable price.

 Builders have taken notice, and are bringing new construction townhomes to market from Glenview to Bridgeport and every point in between, delivering the space, privacy and maintenance-free living that Chicago-area residents are eager to enjoy this season.

 “People want to live near urban cores, but with high land costs, townhomes are the most viable option for many buyers to get the space, amenities and location at a price they can afford,” said Jerry S. James, president of Edward R. James Homes.

“Plus, townhomes match the lifestyles of a variety of homebuyers, from empty-nesters looking to downsize while still having the ability to accommodate guests, to young families in need of multi-level living space without the burden of maintaining a yard or snow removal.”

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

Lincoln Harris Brokers Four Leases Totaling Nearly 7,400 Square Feet in North Carolina


John Mikels
RALEIGH, N.C. (May 11, 2015) — John Mikels of Lincoln Harris’ Raleigh office has brokered four leases in North Carolina for a total of 7,368 square feet. Details of the transactions are below:

·      Bida Pool signed a 1,600-square-foot lease at Sycamore Square Shopping Center, located at 3308 Bragg Blvd. in Fayetteville. Mikels represented the landlord, Nassimi Realty, in the transaction. The tenant did not use a broker.

·      TradeSource Inc. signed a 968-square-foot lease at New Haven Office Centre, located at 2304 S. Miami Blvd. in Durham. Mikels represented the tenant in the transaction. 

The landlord, Ticon Properties, was self-represented by Brent Powell.

·      Dr. Nina Thomas, DDS, signed a 2,400-square-foot lease at Creedmoor Village Shopping Center, located at 1440 Brogden Woods Drive in Wake Forest. Mikels represented the landlord, 
Harris Teeter, in the transaction. Tommy Honey of Hunter & Associates represented the tenant.

·      Currier Veterinary Services signed a 2,400-square-foot lease at Creedmoor Village Shopping Center as well. Mikels also represented the landlord in this transaction.    
   
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)