Berger Commercial Realty Brokers Close Several Leases Across Florida

Judy Dolan

FORT LAUDERDALE, FL - Berger Commercial Realty brokers Robert Dabrowski, Judy Dolan, John Forman, and Greg Milopoulos recently closed multiple lease transactions in Greenacres, Coconut Creek and Tampa.

Greenacres

Dabrowski and Forman represented tenant Southwestern Marketing, Inc. in leasing 775 square-feet of office space from David Associates V, LLC. 

Southwestern Marketing moved into suite 306 of a three-story medical, office and retail building that sits just east of Jog Road at 5700 Lake Worth Road in Greenacres. 

The building, which features round-the-clock access and ample parking, is located within minutes of JFK Hospital.

Coconut Creek

Robert Dabrowski

Dolan and Milopoulos represented landlord 4811 Lyons Tech Pkwy, LLC in the lease of 1,562 square-feet of warehouse space to Alternative Credit Solutions, LLC in suite 13 and the expansion and renewal lease of 3,124 square-feet of warehouse space to Natural Stone Elements, LLC in suites 20 and 21 at 4911 Lyons Technology Parkway in Coconut Creek. 

The property, which consists of two buildings with front loading warehouse/flex bays, provides easy access to Florida's Turnpike, I-95 and the Sawgrass Expressway.

Tampa

Milopoulos also represented tenant SAQ Gulf Holdings, LLC in leasing 4,000 square-feet of warehouse space from Madison Business Park, LLP.

 Located at 4610 Eagle Falls Place in Tampa, Madison Business Park features dock-high and grade-level loading doors, large truck courts, and tilt wall concrete construction.

 The property is in close proximity to the Port of Tampa, I-75, US-301, I-4, I-275, and the Crosstown Expressway.

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

Pierson Grant Public Relations

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Six/Ten renews several restaurant, retail and office leases in downtown Winter Haven, FL

Chad Lennox

Winter Haven, FL — Commercial and multifamily developer Six/Ten LLC has recently worked with several of its tenants to sign renewals in downtown Winter Haven.

“We are seeing an increased demand for space downtown,” said Chad Lennox, who represented the landlord, Six/Ten, LLC, in these renewals. 

“The addition of new office and retail space has opened up opportunities for businesses to relocate to the area.

 And the added foot traffic has provided an extra incentive for those already in downtown to remain in the area.”

Six/Ten has been working toward an urban rebirth of the downtown area, including the restoration of several historic buildings to their original, authentic architecture while modernizing their services. 

Central Park Square, Winter Haven, FL

One such building, Central Park Square, formerly a dilapidated, two-story furniture store, has been converted to retail and office space.

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

Michelle Friedman

Boardroom Communications

(407) 973-8555

(561) 706-4585 Cell

(954) 370-8999

(954) 370-8892 Fax

mfriedman@boardroompr.com

National Retail Properties, Inc. Declares Dividends For Its 6.625% Series D Preferred And 5.70% Series E Preferred Stocks

ORLANDO, FL /PRNewswire/ -- The Board of Directors of National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, declared a cash dividend on its 6.625% Series D Cumulative Redeemable Preferred Stock of 41.40625 cents per depositary share payable June 15, 2015, to shareholders of record on May 29, 2015.  

The Board also declared a cash dividend on its 5.70% Series E Cumulative Redeemable Preferred Stock of 35.625 cents per depositary share payable June 15, 2015, to shareholders of record on May 29, 2015.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of March 31, 2015, the company owned 2,104 properties in 47 states with a gross leasable area of approximately 23.1 million square feet with a weighted average remaining lease term of 11.5 years. 

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

www.nnnreit.com.

Capital Square Realty Advisors Acquires 37,500-Square-Foot 24 Hour Fitness Building Near Los Angeles

LOS ANGELES, CA – Capital Square Realty Advisors, LLC announced it has acquired a 37,500-square-foot retail building 100 percent leased to 24 Hour Fitness USA Inc., in the Los Angeles suburb of West Covina, Calif.

“This property is leased on a long-term, triple net basis to one of the largest, privately owned and operated fitness center chains” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

 “Net leased properties in Greater Los Angeles have experienced a dramatic increase in value, and we couldn’t be more pleased to add this asset to our growing real estate portfolio, which now includes 23 properties across the U.S. valued in excess of $260 million.”

The two-story building is located at 1530 W. Covina Parkway, approximately 19 miles east of downtown Los Angeles, in the eastern San Gabriel Valley. 

Rusty Tweed

Capital Square would like to recognize TFS Properties, Inc., doing business as TaxGuard1031, a California licensed real estate broker, which served as Capital Square’s real estate broker and was the procuring cause for this off-market acquisition. 

Rusty Tweed is the President of TFS Properties, Inc. and is a registered representative with FINRA member firm Concorde Investment Services, LLC.

The 1.6-acre property includes a three-level, free-standing parking garage, and is designed as a 24 Hour Fitness “Sport” facility. Amenities of the club include cardio equipment, circuit training, a kids club, sauna, steam room, and lap pool, among others.

Founded in 1983 in San Leandro as a one-club operation, 24 Hour Fitness currently has more than 400 locations in 18 states and three countries, upwards of 3.8 million members in excess of $1.25 billion in annual revenue.

 A global fitness leader, the company has been ranked by Club Industry’s (www.clubindustry.com) “Top 100 Health Clubs” as No. 2 in 2013 and 2014, and No. 1 in 2011 and 2012.

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

Julie Leber                                                                          

Spotlight Marketing Communications                    

949.427.5172, ext. 703                   

julie@spotlightmarcom.com

Marcus & Millichap Brokers Sale of 13 Apartment Units in North Miami, FL for $2.75 Million

Chateaux Gardens Townhomes, 11810 NE 19th Drive San Souci Submarket,
North Miami, FL

NORTH MIAMI, FL – 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 13 units in Chateaux Gardens Townhomes, a 14-unit townhome community located in the highly desirable San Souci submarket of North Miami, Fla. The asset sold for $2,750,000 equating to $211,538 per unit.

Arthur D. Porosoff

Arthur D. Porosoff, a vice president investments, and David M Cohen, an associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor from North Miami.  

Porosoff also represented the buyer, a private investor from Bay Harbor Islands, Fla. 

“This was a tremendous opportunity to purchase a property with strong ‘in place’ cash flow and continue to operate it as rentals or to sell the individual condominium units at a premium,” says Porosoff. 

“The area is densely built out with limited availability for new development and there are a limited amount of buildings offering three-bedroom apartments.”

Built in 1995, Chateaux Gardens Townhomes is situated on a 38,948-square foot site and consists of two two-story buildings totaling 14 units. The offering consisted of 13 spacious three-bedroom/two-bath townhomes. Each unit is two-story and approximately 1,570 square feet under air.

Chateaux Gardens Townhomes is located at 11810 NE 19th Drive in North Miami, Fla.

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

Kirk A. Felici

First Vice President/District Manager

 Miami, FL

(786) 522-7000

Deco Market Sale of $5.46 Million in South Beach, FL Brokered by Marcus & Millichap

Art Deco Market, 1435 Washington Avenue, South Miami Beach, FL

MIAMI BEACH, FL – 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 Deco Market, a 9,243-square foot mixed-use property located in Miami Beach, Fla. The asset sold for $5,460,000.

Ronnie Issenberg

Arthur D. Porosoff, Ronnie Issenberg, Gabriel Britti, and Scott Sandelin, vice president investments, and Alejandro D'Alba, an associate, in Marcus & Millichap’s Miami office, represented the seller, a limited liability company from Miami, and the buyer, a private investor from Miami.

“This was a tremendous opportunity to purchase a property with in-place cash flow and continue to operate it with minimal management of the retail portion and run the residential units as yearly apartments or short term rentals,” says Sandelin.

“Washington Avenue has long been the most neglected street in South Beach. 

"With record breaking prices on the other main corridors of Alton, Lincoln and Collins, along with the prospects of a zoning density increase for the east side of the street, Washington Avenue has become a desirable target for investors that are looking to get into this market,” adds Issenberg.

The building is comprised of a 6,394-square foot retail space and nine apartments totaling 2,929 square feet. The retail portion is currently leased to Art Deco Market, a staple in the South Beach community.

Deco Market is located at 1435 Washington Avenue in Miami Beach, Fla.

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

Kirk A. Felici

First Vice President/District Manager

 Miami, FL

(786) 522-7000

Marcus & Millichap Arranges Sale of Doral Signature Shops in Doral, FL for $9.1 Million

Doral Signature Shops, 11401 NW 41st Street, Doral, FL

Scott C. Sandelin

DORAL, FL – 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 Doral Signature Shops, an 11,110-square foot retail property located in Doral, Fla. 

The asset sold for $9,100,000 representing $819 per square foot and a 5.10 percent CAP rate.

Scott C. Sandelin, an associate vice president investments, and Edward Romo, an associate, in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a partnership between local developers Gadinsky Real Estate and Armando Codina.  The buyer was a limited liability company from Miami.

“Doral Signature Shops was a rare opportunity for an investor to secure a newly constructed three-tenant retail center featuring long-term leases with high profile tenants,” says Sandelin. 

Edward Romo

“For the growing segment of two to three-tenant, high-quality retail centers, this is a very significant sale in terms of deal size and cap rate.”

“Doral is one of the Miami area’s fastest growing and most sought after markets with strong demographics. 

"The tenant mix of a Starbuck’s, Mercantile Commerce Bank and popular local restaurant chain, Graziano’s, is a perfect match for the area and complements the adjacent high-end apartment community that Codina built,” adds Romo.

Located at 11401 NW 41st Street, the center is situated at a signalized intersection on Doral’s main east-west corridor with convenient access to the Florida Turnpike.

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

Kirk A. Felici

First Vice President/District Manager

 Miami, FL

(786) 522-7000

Hold-Thyssen negotiates two new professional office leases at New England Partners Building in Winter Park, FL

Darby Hold

WINTER PARK, Fla. --- Hold-Thyssen, Inc., recently negotiated two three-year lease agreements totaling 2,189 rentable square feet in the New England Partners Building at 243 W. Park Ave. in downtown Winter Park. 

Darby Hold, transaction specialist for Hold-Thyssen, Inc., negotiated both transactions representing the local landlord, New England Partners, LLC.   

Leading Edge Title LLC leased Suite 102 with 1,640 rentable square feet.  The real estate title insurance company that has been in the Orlando market 18 years, established a second location.  Leading Edge was represented by Lee Acker with RE/MAX  200 Realty. 

John D. McKay – International Legal Services PLC a personal injury and wrongful death firm established a second location in the Orlando / Winter Park area in a 549 square foot suite at the New England Partners Building.  The tenant was not represented in the transaction. 

The two new tenants boosted occupancy from 84 to 100 percent.   Other tenants in the New England Partners Building include Kelly Price and Company, Elizabeth Hawthorne Faiella, PA and Kracht Law Firm.

Hold-Thyssen, Inc. 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.

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

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

Crescent Communities Selects Charlotte, NC-based Collett To Lease Tryon Place Retail Space

Brian Leary

CHARLOTTE, N.C. — Crescent Communities announces a proven veteran will lead the retail leasing at Tryon Place, the company’s 27-story, mixed-use development located in downtown Charlotte. Crescent has selected Charles Thrift and Charlotte-based Collett to lease approximately 30,000 square feet of retail and restaurant space within the development.

 “While a high-rise building that will take its place amid Charlotte’s Uptown skyline, Tryon Place begins at the sidewalk,” said Brian Leary, president of commercial and mixed-use at Crescent Communities.

“Who we recruit and select to be at our front door and deliver Tryon Place’s first impressions is extremely important. With Charles and Collett’s legacy of success, we are confident they are the perfect teammate to lead these efforts on our behalf. With some of the best chefs in Charlotte, Charleston, Atlanta and Nashville already interested, we’re off to a great start.”

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

Tony Wilbert

The Wilbert Group

404.254.1487

twilbert@thewilbertgroup.com

$65 million financing for 3-property multi-housing portfolio in New Jersey and Delaware secured by HFF

Jon Mikula

FLORHAM PARK, NJ  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing totaling $65 million for a three-property, 974-unit multi-housing portfolio.  

The properties in the portfolio are: Brighton Arms and Tree Haven in New Jersey and Valley Run in Delaware.

HFF worked on behalf of the borrower, PRC Group, to secure fixed-rate financing for the portfolio in three separate transactions through Investors Bank.

Brighton Arms is located along West Sylvania Avenue near New Jersey Route 18 in Neptune City, New Jersey.  

The 20-building community was built in three phases and features 428 one- and two-bedroom units averaging 937 square feet each.

Tree Haven is a three-phase, two-story garden-style apartment community located in Matawan and Aberdeen, New Jersey. 

 Phase I and II are located at 130 and 120 Ravine Drive in Matawan and Phase III is located at 33 Aberdeen Road in Aberdeen.  

The property totals 24 buildings consisting of 268 one- and two-bedroom units ranging between 789 to 1,050 square feet.

Jim Cadranell

Valley Run is located at 2601 Carpenter Road in suburban Wilmington, Delaware, approximately 1.3 miles from Interstate 95.  

The garden-style community is comprised of 28 two- and three-story buildings that have 278 flat and townhome-style units averaging 955 square feet each.  

All of the properties include amenities such as outdoor swimming pools, tennis courts and large playgrounds.

The HFF debt placement team representing PRC Group was led by senior managing directors Jim Cadranell and Jon Mikula.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

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

krmurphy@hfflp.com

www.lutgert.com.

www.barroncollier.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

krmurphy@hfflp.com

www.weingarten.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

krmurphy@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