NAI Realvest Negotiates Acquisition of 6.43 acre development parcel on US 1 in Ormond Beach, FL for $812,500

Chris Butera

ORMOND BEACH, FL – NAI Realvest recently negotiated the acquisition of a 6.43-acre parcel of retail development land at 1670 N. US 1 in Ormond Beach.

Chris Butera, investment associate at NAI Realvest covering Volusia and Flagler counties, negotiated the transaction representing the buyer, Destination Interchange LLC who paid $812,500.00 for the land.

The local seller GTMDPP, LLC, was represented by Tim Carroll of Watson Commercial Realty, Inc.

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Crossman & Co. negotiates $4.4 Million Sale of Publix Anchored Shopping Center in Ocala, FL

Pearl Britain Plaza, Ocala, FL

Mark Thompson

ORLANDO, FL --- Mark Thompson, managing director at Crossman & Company one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated the sale of Pearl Britain Plaza in northeast Ocala.

Thompson, who represented the Seller Pearl Britain Development of Troy, MI, said the 82,216 square foot Publix-anchored center and its 18.5-acre site, was sold to a private investor out of Coral Gables for $4,436,300.

“This was a unique value-added Publix with 70 percent vacancy in the shop space.  Our campaign process generated over 100 authorized confidentiality agreements and several offers for the property,” said Thompson.  “A private investor from South Florida delivered a non-refundable day-one offer to close the deal.”

Pearl Britain Plaza is one of three shopping centers Thompson sold over the past 60 days in Central Florida totaling more than $11.88 million and 150,000 square feet.  The 21,600 square foot Publix Shadow, Shoppes at Andover in Orlando was sold for $4,900,000 and the 46,177 square foot Plaza Del Sol on SR 434 in Longwood sold for $2,550,000. 

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

Beth Payan, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com

Newly Formed Core5 Industrial Partners Announces Company Growth; Plans Core5 Logistics Center at Shugart Farms as First Development to Hit Market in Atlanta, GA

Linda Booker

ATLANTA, GA, Jan.  5, 2016 – Three veteran industrial real estate professionals, in conjunction with Kaiima USA Group, announced the formation of Core5 Industrial Partners, a real estate property company focused on development and acquisition of Class A industrial properties.

 The company has commenced development in Atlanta with plans to expand to all of the key logistics markets throughout the US over the next three years.

Kajima USA stepped forward in 2015 to capitalize the company with a leadership team from previous employees of its successful industrial company, IDI, which developed over 175 million-square-feet of Class A properties over a 25 year period prior to selling the company in October 2013.

 Leading Core5’s efforts are Tim Gunter as President and CEO, Linda Booker as CFO and Lisa Ward as Senior Vice President and Managing Director.

The 175 year-old Japanese powerhouse, Kajima Corporation, owns Kajima USA which offers real estate development services, along with architectural, engineering and construction services through a national network of specialized companies in the US. Representing Kajima’s industrial real estate investment, Core5 focuses on development and acquisition of Class A industrial properties throughout the United States.

Lisa Ward

To take advantage of the financial strength of its parent, Core5 plans to finance most deals on its balance sheet and to have a substantial equity commitment in the products it develops. Core5 also plans to co-invest with other financial partners as well to grow its platform nationally.

”The US market continues to offer significant opportunities for accretive development  and we have considerable capital resources to finance deals that take advantage of attractive market conditions, said Gunter, President and CEO for Core5. 

“We’ve been evaluating several markets and specific opportunities and our pipeline is robust going into 2016. We feel good about where we are going.”

Core5 Logistics Center at Shugart Farms, the company’s initial development, is already under construction with a 873,800 square foot state-of-the-art industrial facility, located in the I-85 South/Airport market in Fairburn, Georgia, just south of Atlanta’s city center less than 10 miles from Hartsfield Jackson International Airport.

 The Airport Submarket has been the most active submarket in Metro Atlanta, landing several Fortune 500 companies for largescale distribution and e-commerce fulfillment center over the last year. 

The new facility, with anticipated delivery in 3Q 2016, will offer all the key elements desired by end-users including:  36’ clear height, significant trailer and auto parking, immediate access to key supply chain infrastructure, an outstanding labor pool from which to draw employees along with close proximity to rooftops of Metro Atlanta. Core5 Industrial Partners selected SunTrust as its financing partner for the project.

Tim Gunter

“We’re in a position to have a very active year in 2016, said Core5’s Ward, Senior Vice President and Managing Director overseeing development and acquisition activities in the southeastern United States.

“We’re excited about the new product coming out of the ground in Atlanta while at the same time, equally motivated to break into other key logistic markets in the US.

" For 2016, Core5 has identified approximately 5 million square feet of anticipated development starts in Metro Atlanta and three additional key logistics markets. The future for Core5 looks very bright.”

Core5 Industrial Partners is an industrial real estate property company with expertise in development and acquisition of inventory and build-to-suit facilities of Class A industrial properties.

Headquartered in Atlanta, Georgia, Core5, named for its five core business principles, was capitalized in 2015 by Kajima USA Group, whose $2 billion industrial holdings were sold in 2013. With current activity in Atlanta, Georgia, Core5 expansion plans include the key logistic hubs throughout the US.

 For more information on Core5 Industrial Partners, visit www.c5ip.com.

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

Lisa Ward

Core5 Industrial Partners

404-262-5430

lward@c5ip.com

NAI Realvest Completes Central Florida Seven Office Lease Agreements within 60 days for nearly 15,000 rentable square feet in Lake Mary, Winter Springs and the UCF area

Mary Frances West

ORLANDO, FL --- Mary Frances West, CCIM Vice President at NAI Realvest negotiated seven leases within the past 60 days for a total of 14,982 rentable square feet of office space in Lake Mary and Winter Springs in Seminole County, and in the UCF area of East Orange County.

West represented Landlord RREF Interchange-FL Primera II, LLC of Daytona Beach in a new lease agreement with Ajax Building Corporation of Altamonte Springs.  The tenant, a construction management firm, leased 1,408 square feet at 735 Primera Blvd. in Primera Court II. 

  At the same class A office building, West negotiated two lease renewals with existing tenants each occupying 1,380 square feet – Carrington Mortgage Services, LLC headquartered in Santa Ana, Calif. and Lake Mary-based Target Engineering.

In Winter Springs, West represented the tenant, Kenosha, Wis.-based Snap-On Tools Company in a lease renewal and expansion for a total of 3,140 square feet in the Vistawilla Office Center located at 1511 E. SR 434.

West negotiated two leases at University Court located at 3361 Rouse Rd. in East Orlando’s UCF area representing the landlord Interchange-FL Rouse, LLC of Daytona Beach.  

Monica Wonus

Melbourne-based Florida Today, a division of the Courier Journal, Inc. leased 1,122 square feet at the office building, and was represented in the negotiations by Monica Wonus and Allison Wong of CBRE.

  In addition, Regional Acceptance Corporation renewed the lease of their space containing 2,670 square feet.  

Finally, West negotiated a renewal lease with ESP Management of Florida, Inc. who occupies 3,882 square feet at University Court.

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

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

MBA Releases Q3 2015 Commercial/Multifamily Databook; MBA—CREF Expo Jan. 31-Feb. 3 in Orlando, FL

Kareem Abdul-Jabar

WASHINGTON, DC -- The Mortgage Bankers Association (MBA) today released its Third Quarter 2015 Commercial/Multifamily Databook. You can download the entire Databook here.

Don't forget to register now to cover MBA's CREF/Multifamily Housing Convention and Expo 2016

MBA’s CREF/Multifamily Housing Convention and Expo is the signature event for commercial real estate finance and multifamily housing professionals.  For four days, professionals will network, provide economic and regulatory updates, and share tips for success in the marketplace.

 Attendees will enjoy a comprehensive industry outlook with several session topics and speakers.  It is truly designed for anyone involved or interested in commercial and multifamily real estate finance. 

Speakers Include:

·     Bill Emerson, 2016 MBA Chairman; CEO, Quicken Loans, Inc.

·     David H. Stevens, CMB, MBA’s President and CEO

·     Kareem Abdul-Jabar, NBA Hall of Famer, Time Magazine and Washington Post columnist

·     Robert M. Stout, CRI, Chair, COMBOG 2016; President and CEO, Q10 Capital LLC

·     Michael Fratantoni, MBA’s Chief Economist and Senior Vice President of Research and Industry Technology

·     Jamie Woodwell, MBA’s Vice President of Commercial and Multifamily Research

·     Christopher, LaBianca, Managing Director, Head of Origination, UBS Real Estate Finance

·     Angela Mago, Executive Vice President, KeyBank, Real Estate Capital

·     David M. Durning, President and CEO, Prudential Mortgage Capital Company

·     Howard W. Smith, III, President, Walker & Dunlop, LLC

·     Thomas D. Dennard, Chairman and CEO, Grandbridge Real Estate Capital LLC

·     Rocco Mandala, Executive Vice President, CBRE Capital Markets

·     Victor Calanog, Ph.D., Chief Economist and Senior Vice President, Reis, Inc.

·     Jim Costello, Senior Vice President, Real Capital Analytics

Angela Mago

Session Topics Include:

CRE Lending- Steady As it Goes or a Brace New World?

Property Market Conditions and Outlook

The Economic and Market Outlook for 2016

2016 Elections and CRE Finance

Navigating the Regulatory Landscape

FHA Multifamily New Policies and Programs

Small Balance Lending

WHEN: January 31 – February 3, 2016

WHERE: The Hyatt Regency Orlando, 9801 International Drive, Orlando, FL 32819

CONTACT: All conference events are open to the media, except for any event otherwise mentioned on the convention program.  Credentials must be obtained in advance.  Please contact Ali Ahmad at aahmad@mba.org or (202) 557-2727 for more information or to register.  To visit the Conference website, click here.

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

Ali Ahmad

aahmad@mba.org

(202) 557-2727

HC Real Estate Capital Arranges $13.6MM Bridge Financing for Retail Center in Huntsville, AL

  

University Place Shopping Center, Huntsville, AL

Chris Caveglia

Huntsville, AL, Jan. 5, 2016 -- Chris Caveglia and Kurt Hoffmann of HC Real Estate Capital have arranged $13,600,000 in bridge financings for University Place Shopping Center located in Huntsville, AL.

  Financing was arranged through an institutional bridge lender with a 3-year term at a competitive interest rate.  University Place is a 168,212 square foot community center built in 1989 and is situated on 21.74 acres.    

The tenant mix is made up of both national and local tenants including:  Panda Express, Cheddar’s, Zaxby’s, 24 E Health Club, Nothing But Noodles, T-Mobile and Subway.

Chris Caveglia, Principal at HC Real Estate Capital states, “University Place Shopping Center is located on the heavily traveled University Drive with over 68,000 cars per day and is in close proximity to Cummings Research Park, the second largest research park in the nation and the fourth largest in the world.” 

Kurt Hoffmann

Caveglia also went on to say, “This loan will provide the borrower the opportunity to carry out their plan to renovate the center and lease up the vacancy. “

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia with a history of reliability, flexibility and quality customer service.

Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent commercial and multifamily real estate loans. 

The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks as well as a proprietary lending platform.

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

Chris Caveglia

HC Real Estate Capital, LLC

660 Linton Blvd. Ste 200 EX5

Delray Beach, FL 33444

Direct: 561-266-3273

Mobile: 561-376-3176

ccaveglia@hcrecapital.com

www.HCREcapital.com

REVA Development Partners Announces VIP List to Serve High Demand for Luxury Rental Community Residences of Orland Park Crossing in Orland Park, IL

 

Matt Nix

 CHICAGO, IL  (Jan. 4, 2016) — Renters interested in leasing at The Residences of Orland Park Crossing, a new luxury rental community currently under construction in Orland Park, can now join a VIP List set up by developer REVA Partners and management firm Kinzie Property Management.

By joining the VIP list at www.opcliving.com, renters will be the first to receive information about pricing, incentives and pre-leasing, which will begin in January. First move-ins for rowhomes are expected in late January while first apartment and townhome buildings will deliver in March.

“We are very excited to play such an important role in the ongoing evolution of the Orland Park community,” says Matt Nix, principal of REVA Development. “There is tremendous demand in this area for living space that mixes all-out convenience with high-quality livability and that’s exactly what we’re building in to every unit in the community.”

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

Vanessa Irving virivng@taylorjohnson.com, 312.267.4525

Kim Manning, kmanning@taylorjohnson.com, 312.267.4527

Chatham Lodging Trust Announces Special Dividend on Sale of Joint Venture

Dennis Craven

PALM BEACH, FL, Jan. 4, 2016—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded, select-service hotels, today announced a joint venture comprised of affiliates of Cerberus Capital Management LP and Chatham sold its interests in the Residence Inn by Marriott Torrance, Calif.

Chatham realized a gain on the sale of approximately $3.6 million, subject to certain minor post-closing settlements. 

Following the transaction’s consummation, Chatham’s board of trustees declared a special, one-time common dividend of $0.08 per share that will be treated as received by shareholders for tax purposes in 2016, but will be applied by Chatham against its 2015 taxable income. Chatham owned a five percent interest in the joint venture.

“Since April 2013, we invested $1.6 million into the partnership that acquired the Residence Inn Torrance, Calif., re-developed the gatehouse into a state-of-the-art facility and significantly enhanced occupancy and room rate. The sale generated a sizable gain on our investment due to our promoted interest in the joint venture,” highlighted Dennis Craven, Chatham’s chief operating officer.

Residence Inn by Marriott Torrance CA

“This was a highly successful investment, realizing an internal rate of return of almost 100 percent and unlocking value for our shareholders through the monetization of our minority investment.

“Our intention is to pay-out 100 percent of our taxable income via dividends, and this special dividend rewards our shareholders after another great investment.”

The special dividend is payable January 29, 2016, to shareholders of record on January 15, 2016.

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

Patrick Daly

Account Executive

 Daly Gray, Inc.

620 Herndon Parkway

Suite 115

Herndon, VA 20170

 (703) 435-6293 (office)

patrick@dalygray.com

HFF closes $22.425 million sale of and arranges $15.5 million financing for mixed-use creative tech building in Seattle’s Pioneer Square submarket

Olympic Block Building, Pioneer Square submarket, Seattle, WA

 

Nick Kucha

PORTLAND, OR. Jan.  4, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged financing for Olympic Block Building, a 70,796-square-foot, mixed-use, creative tech building in Seattle’s Pioneer Square submarket. 

HFF marketed the property on behalf of the seller, LPC Realty Advisors I, LP, an affiliate of Lincoln Property Company, on behalf of a pension fund client.  Brickman purchased the asset for $22.425 million.  Additionally, HFF assisted the new owner in securing a $15.5 million, 36-month, fixed-rate acquisition loan by Natixis Real Estate Capital LLC.

The Olympic Block Building is situated on Pioneer Square’s 50-yard line at the intersection of Yesler Way and 1st Avenue South.  This location sees more than 20,000 vehicles and 3,000 pedestrians per day, and is two blocks from Sound Transit’s Pioneer Square station.

 The 70,796 square feet in the offering was spread amongst the first six floors of The Olympic Building and the connected Lippy Building (circa 1890’s) and includes ground floor retail and technology-oriented office space.  

The property also features 22 subterranean parking spaces and 18 residential units on floors seven through nine (residential units are not part of the offering).

HFF’s investment sales team representing the seller was led by managing director Nick Kucha and senior managing director Todd Tydlaska.

HFF’s debt placement team representing the borrower was led by managing director Casey Davidson and senior managing director Paul Brindley.

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

HFF closes sale of Rincon Center in North San Jose, CA

Steve Golubchik

SAN FRANCISCO, CA. Jan. 4, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Rincon Center, a two-building, 156,094-square-foot, Class A office/R&D campus in North San Jose, California. 

HFF represented the seller, an entity owned by certain funds managed by Westport Capital Partners LLC, in the transaction. 

Rincon Center consists of 1010-1020 and 1060 Rincon Circle, which are situated on an 8.31-acre site, fronting Interstate 880 and Montague Expressway in the Silicon Valley area of North San Jose.

 This location places the asset within minutes of San Jose International Airport, Levi’s Stadium, downtown San Jose and Santa Clara City Center.  

The property is served by the VTA bus lines and Light Rail with connections to the ACE, Caltrain and Amtrak commuter rail lines and the future Milpitas BART station opening in 2017-2018. 1010-1020 Rincon Circle is a 90,871-square-foot building that is fully leased to Quanta Computer.

 The 65,223-square-foot 1060 Rincon Circle is fully leased to CSR (acquired by Qualcomm in 2014).  The two-story properties were both recently renovated and share 556 parking spaces on site.

HFF’s investment sales team representing the seller was led by senior managing director and co-head of HFF’s San Francisco office, Steven Golubchik and director Ben Bullock.

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.westportcp.com.

HFF arranges $60.74 million acquisition financing for Galleria Place in Houston, TX

 

Galleria Place, Houston, TX

HOUSTON, TX, Jan. 4, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $60.74 million in post-closing acquisition financing for Galleria Place, two Class A office buildings totaling 401,000 square feet plus a stand-alone retail site across from the Galleria Mall in Houston, Texas.

Working on behalf of the borrower, LPC Realty Advisors I, LP, an affiliate of Lincoln Property Company, on behalf of a pension fund client,

Susan Hill

 HFF placed the three-year, floating-rate, interest-only loan with ACORE Capital.  HFF also arranged the sale of the property earlier in 2015.

Galleria Place consists of Galleria Place I (5251 Westheimer), an 11-story, 217,006-square-foot office building; Galleria Place II (5333 Westheimer), a 10-story, 178,468-square-foot office building; Sage Plaza, a 5,797-square-foot retail building fully leased to a local high-end salon and tailor; Regions Bank, a single-story bank branch and drive-thru connected to Galleria Place I and included in its square footage; and two parking garages with 1,361 spaces.

  Galleria Place is 53 percent leased to tenants including Just Energy and IHS.  The properties occupy six acres bounded by Sage and Westheimer Roads and West Alabama Street directly across from the Houston Galleria, Houston’s premier destination for shopping and dining. 

HFF’s debt placement team representing the borrower was led by senior managing director Susan Hill.

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.acorecapital.com.

HFF secures $13.437 million acquisition financing for Hilton Head, NC grocery-anchored retail center

                                

Fresh Market Shoppes, 890 William Hilton Parkway,  Hilton Head, NC

 

Travis Anderson

CHARLOTTE, NC. Jan. 4, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $13.437 million in acquisition financing for Fresh Market Shoppes, an 86,694-square-foot retail center anchored by The Fresh Market in Hilton Head, South Carolina. 

HFF worked on behalf of the borrower, Ferncroft Capital, to secure the loan through Synovus Bank.

Redeveloped in 2004, Fresh Market Shoppes is 91.2 percent leased and home to 16 tenants, including The Fresh Market, Bonefish Grill, Dollar Tree, Massage Envy and West Marine.

 Situated on 9.73 acres at 890 William Hilton Parkway, the center is located on Hilton Head Island, an affluent resort community with more than 37,000 year-round residents. 

The center’s location along Hilton Head’s main street has a traffic count of more than 33,900 vehicles per day, and the site is bound by two golf clubs, Long Cove Golf Club to the northwest and the Shipyard Plantation Golf Course to the southeast. 

Additionally, Fresh Market Shoppes is positioned near multiple upscale residential neighborhoods.

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler. 

“This was a great opportunity to work with a quality sponsor on a well located asset with a strong grocery anchor in Fresh Market, that we believe will continue to perform at a high level,” Anderson said. 

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.ferncroftcapital.com

HFF closes sale leaseback of 3-property industrial portfolio in Maine and Wisconsin

Nick Foster

SAN FRANCISCO, CA, Jan. 4, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale leaseback of a three-property, four-building, mission-critical, industrial portfolio 100 percent occupied by PrideSports and totaling 241,890 square feet. The properties are located in Burnham and Guilford, Maine, and Florence, Wisconsin.

HFF marketed the portfolio on behalf of the seller, Centre Partners Management LLC, which is acquiring PrideSports as the firm expands their portfolio company, Medalist Corp.  The buyer entered into 20-year, absolute triple-net leases with the seller. 

PrideSports is a leading designer and manufacturer of sports equipment, accessories and other complementary products.

 The buildings included in the sale are all currently occupied by PrideSports and are located at 10 North Main Street in Burnham, Maine; 169 Water Street in Guilford, Maine; and 5794 In Com Drive in Florence, Wisconsin.

 The 184,890-square-foot Burnham property consists of one industrial warehouse and manufacturing building with up to 40’ ceiling heights and 20,000 square feet of mezzanine office space. 

Scott Pertel

The Guilford industrial warehouse is an 18,000-square-foot building with 1,300 square feet of mezzanine space and 16’ ceiling heights.  The two-building Florence property has a storage facility and a light manufacturing facility with 20’ ceiling heights and totals 39,000 square feet including 5,000 square feet of office space. 

The HFF investment sales team representing the seller was led by managing director Scott Pertel and associate director Nick Foster.

“PrideSports has a commanding market share position in the golf accessory industry,” Pertel said.  “These properties are critical to the design, production and distribution of their products. 

“This sale leaseback was accretive to both Centre Partners and the buyer, a true win for both parties.  Demand for mission-critical sale leaseback product remains robust, and we perceive that demand to remain consistent throughout 2016.”

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.centrepartners.com.

www.medalist-corp.com.

Sales Booming at Aruba Condominium in Daytona Beach Shores, FL

Jim Mack

Daytona Beach Shores, FL--- Oceans Luxury Realty recently reported that sales of Aruba condominiums are booming, as 60 percent of the 84 units have been reserved.  Final City approvals are expected within 30 days.

Jim Mack, who heads the team at Oceans Luxury Realty responsible for sales and marketing of Aruba, said they are way ahead of schedule on selling the first oceanfront condominium project in the Daytona Beach area in more than seven years.  

“Our goal is to have 70 percent of Aruba sold by the end of the year,” Mack said.

Sales of the units have doubled since August, “and this was accomplished during the typical slow season,” said Ed Rancourt, sales manager. 

Priced from the $300s to the $600s, Aruba features 60 units that will directly overlook the ocean, and 24 with ocean views and river views.

Greenpointe Communities of Jacksonville is on target to start construction of the 12-story Aruba condominium in March. 

Located at 3721 S. Atlantic Ave.,  Aruba has 225 lineal feet of beachfront just south of the Sunglow pier, an area that offers more beach during low tide which is a feature of Daytona Beach Shores, Rancourt explained.

Aruba Condominiums Rendering,
Daytona Beach Shores, FL

Condominiums will range from 1,400 square feet of living area to over 1,800 square feet. Four floor plans are available in three-bedroom two-bath designs, and end units available have the four-bedroom, three-bath plans that include wraparound balconies.

Aruba’s amenities include onsite maintenance and building management, a home owners association, underground parking, a fully equipped workout center, clubroom, a swimming pool and an adults-only outdoor spa area.

Oceans Luxury Realty is excited about adding some of the Aruba units to their inventory of weekly vacation rentals which are in great demand, Mack said.

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

Crossman & Co, negotiates Five Leases totaling More than 15,200 square feet at Orange City, FL Marketplace

   

Tyler Wilkins

 ORANGE CITY, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated five lease agreements totaling 15,280 square feet at the Orange City Marketplace located at 816 Saxon Blvd. at the corner of Enterprise Rd. in Orange City.

Associate Tyler Wilkins negotiated all five transactions representing the landlord for Orange City Marketplace, LLC, including -

·     New lease by Fiesta Grande Mexican Grill for 5,780 square feet;

·     Renewal lease of 3,850 square feet by Ohio-based Sherwin Williams;

·     Renewal lease of 3,300 square feet by Texas-based Rent A Center;

·     New lease of 1,600 square feet by Florida’s Premium Mattress Outlet; and

·     Renewal and lease of 750 square feet by the local firm of Quest Comm Mobile.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644 4142 or 407-461 3781 lvershelco@aol.com