Sunday, January 10, 2016

Berger Commercial Realty Hosts Lunch and Learn for Local Business Leaders Featuring Broward County Commissioner Tim Ryan



Judy Dolan

FORT LAUDERDALE, FL – Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently hosted its Berger Commercial University Lunch and Learn, which featured Broward County Commissioner Tim Ryan as a guest speaker.

Ryan, who ended his one-year term as county mayor the day after the event, discussed local happenings in Broward County including the proposed development of a new hotel at the Greater Fort Lauderdale / Broward County Convention Center, the county’s new animal shelter, the implications of Uber’s return to Broward, developments at the Fort Lauderdale International Airport, and the current state of the county’s water supply.

Tim Ryan
Berger Commercial Realty President Lloyd Berger and brokers Judy Dolan, Mike Feuerman and Steve Hyatt covered trends in South Florida’s commercial real estate market including transaction statistics, notable deals, and analyses of industrial, retail and office spaces throughout the tri-county area.

The event, which took place at Bistro Mezzaluna, was attended by more than 50 business leaders and commercial real estate brokers.

“Berger Commercial’s tag line is ‘Experience the Power of Market Knowledge,’” said Dolan. 

“Staying true to that saying, we hosted this event for commercial landlords, property owners, business leaders and fellow commercial real estate professionals to become more familiar with the local business happenings and the current state of the commercial real estate market.”

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

954-776-1999
Pierson Grant Public Relations
Lexi Robinson, ext. 255, lrobinson@piersongrant.com
Marielle Sologuren, ext. 226, msologuren@piersongrant.com


Crossman & Co. Promotes Rochelle DuBrule to Senior Leasing Associate


Rochelle DuBrule
ORLANDO, FL--- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, has promoted Rochelle DuBrule to Senior Leasing Associate.
      
John Crossman, president of Crossman & Company, said DuBrule joined the firm 4-1/2 years ago and was one of the top leasing agents for the company in 2015.  

She has handled lease transactions valued at more than $32 Million at shopping centers throughout the State of Florida and currently represents a portfolio of more than 1.5 million square feet of retail space.    

DuBrule was named Central Florida NAIOP’s 2013 Rookie Broker of the Year, 2014 Broker of the Year for retail transactions and has been named a CoStar Power Broker for each of the past three years. 

She holds a Bachelor’s of Science Degree in Business Administration from University of Central Florida. 

“Rochelle’s promotion exemplifies how commitment and hard work are valued and recognized by our company,” said Crossman.


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

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


Crossman & Co. Completes New Lease Agreement with Kobe Japanese Steakhouse and Seafood Restaurant at the Madeira Shopping Center in Madeira Beach, FL


Tracy Worrell
MADEIRA BEACH, FL-- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently completed a long-term lease agreement with a restaurant called Kobe Japanese Steakhouse and Seafood for 3,360 square feet at the newly redeveloped Publix anchored Madeira Shopping Center.

Senior Associate Tracy Worrell negotiated the lease representing the landlord of the shopping center on Madeira Beach just west of St. Petersburg.

Kobe Japanese Steakhouse and Seafood marks its first restaurant in the Tampa Bay area with plans to open early this year.

Worrell said the Kobe Japanese Steakhouse and Seafood lease was the last opportunity to be in-line with Publix and brings the Madeira Shopping Center to 94 percent leased, with just 3,200 SF free standing restaurant space available.
 
For a complete copy of the company’s news release, pease contact:

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

Crossman & Co. Negotiates Eight Leases Totaling 23,500 square feet at Marketplace at Cypress Creek in Sun City Center, FL


Sandra Woodworth

SUN CITY CENTER, FL --- Crossman & Company, one of the largest retail leasing, management and investment sales firms in the Southeast, recently negotiated eight leases for retail space totaling 23,500 rentable square feet at Marketplace at Cypress Creek. 

Senior Associate Sandra Woodworth negotiated all eight transactions representing the landlord for Marketplace at Cypress Creek, a 75,100 square foot shopping center at 789 Cortaro Drive in Sun City Center.  

Susan Eddy
American Clinical Solutions renewed two existing spaces totaling 14,095 square feet and expanded with a new lease for 2,205 square feet;   

New leases were also signed by AAA of Florida for 1,600 square feet and Ray’s Golf Carts 1,400 square feet.

Woodworth negotiated lease renewals on three 1,400 square foot units with Sun City Dental, Karen Harper-Barber and HearUSA.  Susan Eddy of Lang Realty represented HearUSA.

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

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


NAI Realvest Names Mary Frances West Vice President


Mary Frances West
ORLANDO, Fla. – NAI Realvest, the Orlando-based real estate and investment firm that ranks as one of Central Florida’s most prominent commercial property brokerages and developers, has promoted Mary Frances West, CCIM to Vice President.

Robin Webb, CCIM, managing director of NAI Realvest, said West has 30 years of experience in commercial real estate and specializes in office leasing and sales and land sales. 

West, who joined NAI Realvest 10 years ago, was most recently senior broker associate. She focuses on both landlord and tenant representation. 

She received her CCIM designation fifteen years ago, holds a bachelors degree from St. Mary of the Woods College in Terre Haute, Ind. and an MBA from Oklahoma State University.

“Mary Frances has shown great leadership, production and strength throughout the years with NAI Realvest and she will play a vital role in our continued growth,” Webb said.
 
For a complete copy of the company’s news release, pease contact:

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


HFF arranges 30-year $30 million refinancing for 2-property hotel portfolio in Honolulu, Hawaii


 Best Western The Plaza Hotel,  3253 North Nimitz Highway, Honolulu, Hawaii

 LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a long-term $30 million refinancing for a two-property, full-service hotel portfolio totaling 581 rooms in Honolulu, Hawaii.

HFF worked on behalf of the borrower, TEG Hotels, LLC, to place the 30-year, fixed-rate loan that has a 30-year amortization with a major U.S. insurance company.  Loan proceeds are being used to pay off an existing loan and fund capital improvements.  The assets are on a ground lease with 30.5 years remaining.


Airport Honolulu Hotel at 3401 North Nimitz Highway, Honolulu, Hawaii

The portfolio consists of the 307-room Airport Honolulu Hotel at 3401 North Nimitz Highway and the 274-room Best Western The Plaza Hotel at 3253 North Nimitz Highway.

 The Northern Honolulu hotels are situated at the entrance to Honolulu International Airport, the main point of entry for Oahu’s five million annual visitors.  The hotels’ surrounding area will have three stops on the Honolulu Rail Transit Project, which is scheduled for completion in 2017 and will consist of 21 stations that connect West Oahu to the airport and continue into downtown Honolulu. 

Bill Fishel
The project will give guests rail access to major tourist destinations, including Pearl Harbor Naval Base and Lagoon Drive.  Waikiki Beach is six miles from the hotels, and Diamond Head is less than 11 miles away. 

The Airport Honolulu Hotel has two four-story buildings and features a picnic area, 3,401 square feet of meeting space and the full-service Willoughby’s Restaurant.  

With one 12-story tower and three two-story buildings, Best Western The Plaza Hotel has 3,024 square feet of meeting space and the full-service Plaza CafĂ©.  Both hotels have fitness centers, business centers and outdoor pools with sun decks.  

The HFF debt placement team representing the borrower was led by director Bill Fishel, based in HFF’s Los Angeles office.

“Institutional lenders and investors are squarely focused on increasing their allocations to Hawaii,” Fishel said. 

“The lender was exceptional to work with on this transaction, and we were thrilled to secure a 30-year financing given the borrower’s long-term ownership plan and today’s historically-low interest-rate environment.”

 TEG Hotels, LLC (TEG) is a privately owned, hospitality focused real estate company founded by David Elmore. 


For a complete copy of the company’s news release, pease 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 secures $25.2 million refinancing for Dadeland Centre II in Miami, FL


Dadeland Centre II, Miami, FL


MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $25.2 million loan for the refinancing of Dadeland Centre II, a 113,691-square-foot, Class A office property in Miami, Florida.

Elizabeth Green

Working on behalf of the borrower, The Green Companies, HFF placed the 10-year, fixed-rate loan through New York Life Real Estate Investors.    HFF arranged refinancing for Dadeland Center I, an adjacent building controlled by the same owner, earlier in 2015.

Paul Stasaitis

Dadeland Centre II is located at 9150 South Dadeland Boulevard, within walking distance of the Dadeland South Miami Metrorail station, which provides access to downtown Miami and the greater Miami area including Coral Gables, Brickell Financial District and the Miami International Airport.

 The property is highly accessible and visible from the Palmetto Expressway, US-1, Dadeland Mall and the Baptist Health Cancer Facility.  

Completed in 2008, Dadeland Centre II features hurricane resistant glass, 250 covered parking spaces and superior accessibility via its location in walking distance of Miami’s Metrorail.

 The property is 84 percent leased to tenants including Cole, Scott & Kissane and Credomatic of Florida. 

The HFF debt placement team representing the borrower was led by senior managing director Paul Stasaitis and associate director Jose Carrazana.

“Dadeland Centre II, like its sister property, represents a best in class location within the Dadeland submarket and its close proximity to executive housing as well as mass transit, resulted in very favorable debt capital interest,” said Stasaitis

The Green Companies negotiating team was led by James Bernstein, Brian Bernstein and Elizabeth Green. 

For a complete copy of the company’s news release, pease 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 secures $39.6 million refinancing for 9-property healthcare portfolio in Dallas/Fort Worth and Houston, TX

  
Steven Heldenfels
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $39.6 million refinancing for a nine-property healthcare portfolio totaling 234,000 square feet in Dallas/Fort Worth and Houston, Texas.

Working on behalf of the borrower, Pinecroft Core Holdings LLC, HFF placed the 10-year, fixed-rate loan with Voya.  The nine assets are owned across a number of investors.

The portfolio consists of medical office buildings and emergency centers in high-growth areas of Dallas/Fort Worth and Houston.  The properties were built between 2004 and 2015 and are north of 90 percent leased.  

The HFF debt placement team representing the borrower was led by managing director Steven Heldenfels and associate director Jeremy Sain.

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 $16.725 million sale of Publix-anchored retail center in Atlanta, GA


Hamilton Mill Village, 2463 Hamilton Mill Parkway, Northeast Atlanta, GA

Jim Hamilton
ATLANTA, GA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $16.725 million sale of Hamilton Mill Village, an 88,710-square-foot retail center anchored by Publix in northeastern Atlanta, Georgia. 

HFF marketed the property on behalf of an unidentified investment advisor.  Phillips Edison Grocery Center REIT II, Inc. purchased the asset free and clear of existing debt.

Hamilton Mill Village is anchored by Publix, the No. 2 neighborhood grocer in the Atlanta MSA.  Additional tenants of the 92-percent-leased center include Menchie’s Frozen Yogurt, Orange Theory Fitness, Subway, Riverside Pizza, Unleashed by Petco, C2 Education, Great Cuts and Pro Nails. 

Located at 2463 Hamilton Mill Parkway, the property is located across the street from the Hamilton Mill master-planned community, which is a private country club community with a Fred Couples signature golf course. 

Hamilton Mill Village is situated on 11.06 acres in the Suwanee/Buford submarket and is proximate to Interstate 85, which provides a direct route to and from downtown Atlanta

The HFF team representing the seller was led by senior managing directors Richard Reid and Jim Hamilton.

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


Lincoln Property Company Sells Five-Building Phoenix Industrial Portfolio for $37.98 Million

  
 
Amr Ceran
PHOENIX, AZ – In a $37.98 million deal, Lincoln Property Company (LPC) has completed the sale of a five-building Northwest Phoenix industrial portfolio to Colorado-based REIT Industrial Property Trust, Inc.

The deal, which includes Lincoln Deer Valley and Lincoln Pinnacle Park assets, represents the powerful driving force of Phoenix’s mid-size industrial user.

“This is a perfect example of the success happening in Phoenix’s small- to mid-size industrial space,” said Lincoln Property Company’s Vice President Amr Ceran. “These buildings are 97 percent NNN leased with staggered expirations, and below-market rents that deliver a long runway of upside potential for the new owner. It is a great position to be in for both a buyer and a seller.”

LPC serves as property manager for both projects, and will continue do to so for the new owner. This continues a long-standing relationship between the companies that was established in 2013, when LPC sold Broadway 101 to a former entity of Industrial Property Trust for more than $77 million.

 LPC continues to manage the 11 building, 808,000-square-foot Broadway 101 industrial park as part of LPC’s 8 million-square-foot local property management portfolio.

Darla Longo
The Lincoln Deer Valley project is located at 21420 and 21430 N. 15th Ln. in Phoenix, and Lincoln Pinnacle Park is located at 23040 N. 11th Ave. in Phoenix – on sites to the direct north and south of Phoenix Deer Valley Municipal Airport.

Together, the buildings total 340,646 square feet of state-of-the-art, Class A single and multi-tenant industrial space. 

They provide a range of suite sizes to meet the needs of a wide variety of users – a combination that has attracted 19 unique tenants including Petsmart, Alstom, Reynaer’s, US Air Conditioning Distribution and California Closets. Industrial neighbors include Honeywell and FedEx.

Constructed between 2005 and 2006, Lincoln Deer Valley and Lincoln Pinnacle Park offer 24- to 30-foot minimum clear heights, ample trailer storage and car parking. They are located approximately 2.5 miles from one another with direct access to I-17 and the Loop 101 freeway, and are minutes from the Phoenix Deer Valley Municipal Airport, one of the nation’s busiest general aviation airports.

Barbara Emmons
Tenants also benefit from Foreign Trade Zone status, providing state and local tax incentives and on-site job training programs.

Darla Longo, Barbara Emmons, Dan Calihan and Pat Feeney of CBRE represented LPC in the sale.

“Phoenix’s industrial market is flush with active, growth-minded companies who have pushed industrial vacancy rates to near single-digit status,” said LPC Director of Management Services Alisa Timm, who directs the company’s property management strategy.

 “Much of this activity is happening in the 5,000-square-foot to 50,000-suare-foot range – the precise type of tenants who occupy projects like Lincoln Deer Valley and Lincoln Pinnacle Park. This requires a broad understanding of property management, but it also creates very diverse opportunities for our team to shine.”

LPC purchased the five-building portfolio in 2011 from Cornerstone Real Estate Funds as part of a strategy to purchase and stabilize core, institutional-grade industrial space. Through an aggressive leasing plan, LPC – in partnership with Steve Sayre, Pat Harlan and Kyle Westfall of JLL – improved the project from 70 percent to nearly 100 percent occupied.

The sale of Lincoln Deer Valley and Lincoln Pinnacle Park caps off a record-breaking year for the Phoenix office of Lincoln Property Company, who since January 2015 has generated more than $271 million in metro Phoenix investment and development activity.


Alisa Timm
 This includes the company’s very recent, $44 million purchase of the historic Luhrs City Center in downtown Phoenix, the $58 million LPC-Oaktree Capital Management purchase of Biltmore Commerce Center in Phoenix, the $42.3 million disposition of Camelback Square in Scottsdale and the $65 million LPC-Goldman Sachs purchase of Promenade Corporate Center in Scottsdale. 

It also includes the development and delivery of the $24 million Waypoint Building One office property in Mesa.

LPC is actively marketing pre-lease and/or design-build opportunities for Waypoint Building Two, and in March was selected to develop the first phase of Class A and mixed-use office space for The Grand, a 60-acre, urban mixed-use property within Papago Park Center.

To discuss additional investment opportunities with Lincoln Property Company in the Desert West Region, please contact David Krumwiede or Amr Ceran at (602) 912-8888.

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195

Saturday, January 9, 2016

JLL Completes Corporate HQ Lease Expansion for Bar S Foods in Phoenix, AZ


John PIerson
PHOENIX, AZ– Tenant representation experts in the Phoenix office of JLL have completed a corporate headquarters expansion lease for Bar S Foods Co., a Phoenix-based corporation that has operated in the Valley since 1981.

The lease brings the Bar S headquarters, located on Phoenix’s Camelback Corridor at 5090 N. 40th Street, to 49,174 contiguous square feet.

JLL Managing Director John Pierson and Senior Managing Director Steve Corney represented Bar-S in the lease. CBRE brokers Jerry Roberts, Corey Hawley and Pat Boyle represented the building owner, Lowe Enterprises Investment Management, LLC.

“This lease allows Bar S to control the entire third floor of the 5090 building,” said Pierson. “With demand for well-located Phoenix office space continuing to rise, it was a good time for the company to formalize its expansion and safeguard the space it needs to continue to grow and thrive in its hometown.”

Bar S was founded in Phoenix in 1981, and since then has become a leading manufacturer of processed meats and a top-selling hot dog brand in America. The company operated a midtown headquarters location for two decades before moving to its new location on the Camelback Corridor in 2011

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

Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195

Annaly Capital Management, Inc. Expands Leadership Team


NEW YORK, NY --(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”) announced promotions of senior officers, recent new hires and a broad expansion of the Operating Committee, the Company’s firm-wide management team.


Kevin Keyes, Annaly’s Chief Executive Officer and President commented: “We have made significant progress in establishing a team with broad and complementary expertise to manage and lead the firm now and in the future. With several key roles filled, Annaly is poised to continue to grow and effectively manage our diversified investment strategies.”


Annaly is proud to announce the following promotions:

David L. Finkelstein has been named Chief Investment Officer, Agency and RMBS. David is also a member of the Operating Committee. He joined Annaly in 2013 from the Federal Reserve Bank of New York where he served as an Officer in the Markets Group and was the primary strategist and policy advisor for the MBS purchase program.

Helen W. Crossen has been named Chief Administrative Officer of Annaly and will also become a member of the Operating Committee. Helen joined Annaly in 2014 as the Head of HR. Helen will be responsible for overseeing the daily activities of employees and internal operations of Annaly.


Peter Dancy has been named Head of Middle Market Lending. Prior to joining Annaly in 2010, Peter had been Managing Director and Head of U.S. Sponsor Coverage for Bank of Ireland.

Jessica LaScala has been named Head of Investor Relations. Jessica joined the Company in 2014 and was most recently a Director of Portfolio Management in Annaly’s Agency Group.

In addition to the foregoing promotions, Annaly is announcing the addition of senior hires across its investment businesses and within its corporate infrastructure. The additions to the management team are profiled below:

Agency and RMBS

Johanna Griffin has joined Annaly as Managing Director, Head of Agency and Non-Agency MBS Risk. She joined the firm from Barclays PLC where she was Global Head of Market Risk for Securitized Products. Johanna has also held senior risk roles at UBS AG, as a Managing Director in its Fixed Income and proprietary hedge fund divisions. Johanna has extensive experience with MBS, analyzing trading strategies and establishing risk frameworks to identify, measure and mitigate risks. Johanna graduated from Villanova with a B.A. and is a member of the Global Association of Risk Professionals.
  


Annaly Commercial Real Estate

John Montesi has joined Annaly as Managing Director – Syndications on the commercial real estate team. Prior to joining Annaly, John was a Senior Vice President at GE Capital Real Estate where he structured, priced and led the real estate loans syndications and mezzanine debt placements for portfolio and single asset loans.

Paul C. Mundinger has joined Annaly’s commercial real estate legal team as a Managing Director, Associate General Counsel. Paul has over 30 years of experience as a commercial real estate attorney, including the last 23 years with the in-house legal department of GE Capital Real Estate.

Annaly Corporate

Audrey K. Susanin has joined Annaly as Director, Associate General Counsel. Prior to joining Annaly, Audrey was a Vice President and Assistant General Counsel at News Corporation advising on matters related to corporate governance, shareholder activism and engagement, securities laws and executive compensation


Howard J. Kim has joined Annaly as a Director, Head of Compensation, Benefits and HR Operations. Prior to joining Annaly, Howard was the head of Global Compensation at NASDAQ, Inc.

Given Annaly’s continued growth and expansion into diversified investment businesses and the evolving market environment, the Company has expanded its firm-wide Operating Committee with complementary and broad experience. In addition to the previously mentioned new members, the Company has added the following executives to the Operating Committee:

Steven F. Campbell, Head of Credit Strategy. Steve joined Annaly in April 2015 from Fortress Investment Group LLC where he held various roles over six years as a Managing Director in the Credit Funds business.

Anthony C. Green, Deputy General Counsel. Anthony joined Annaly in 2009 from K&L Gates LLP where he was a partner in the Corporate, Securities, Mergers & Acquisitions Group. Anthony earned his B.A. from the University of Pennsylvania and J.D. and LL.M. from Cornell Law School.

Michael Quinn, Co-Head of Commercial Real Estate. Mike joined Annaly in January 2014 and along with Jeffrey J. Thompson, Co-Head of Commercial Real Estate, oversees Annaly’s commercial real estate business and team.


Effective in January 2016, the members of the Company’s Operating Committee are:

·     Kevin G. Keyes, Chief Executive Officer and President
·     Wellington J. Denahan, Executive Chairman
·     Glenn A. Votek, Chief Financial Officer
·     R. Nicholas Singh, Chief Legal Officer
·     David L. Finkelstein, Chief Investment Officer, Agency and RMBS
·     Timothy P. Coffey, Chief Credit Officer
·     Helen W. Crossen, Chief Administrative Officer
·     Steven F. Campbell, Head of Credit Strategy
·     Anthony C. Green, Deputy General Counsel
·     Michael Quinn, Co-Head of Commercial Real Estate
·      
For a complete copy of the company’s news release, please contact:

View source version on businesswire.com: http://www.businesswire.com/news/home/20160107006273/en/

Annaly Capital Management, Inc.

Investor Relations, 888-8Annaly

Friday, January 8, 2016

Marcus & Millichap Arranges $5.3 Million Sale of 53-Unit Casa Corsicana Apartments in Seminole, FL


Casey Babb
SEMINOLE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Casa Corsicana Apartments, a 53-unit apartment community located in Seminole, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $5,300,000.

Casey Babb, CCIM and vice president investments, and Luis Baez, senior associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a Tampa-based private investor. 

The buyer, a private investor based in Newport Beach, California, was secured and represented by Tyler Leeson, vice president investments in the firm’s Newport Beach office. 

Casa Corsicana Apartments, a 53-unit, Class A, garden apartment community, is located at 12430 Rose Street in Seminole, Florida, which is just 1.8 miles from the beautiful Pinellas County beaches. The property consists of six, single-story buildings on a lushly-landscaped 3.61 acre site providing a low-density, park-like setting for residents. The units feature large, open floorplans averaging 925 square feet and are a mix of nine percent one-bedroom/one-bath, 76 percent two-bedroom/one-bath, 11 percent two-bedroom/two-bath and four percent three-bedroom/one-bath.

Luis Baez
“Casa Corsicana is a best-in-class apartment asset in its respective submarket after receiving a $1,500,000 rehab in 2014. As a result, it commanded what we think is record prices for small apartments in the Seminole submarket,” says Babb. “There is still a tremendous amount of runway left for rent growth and we expect the buyer will do very well with this property.”

“The buyer was in a 1031 exchange and was procured through a relationship between our Tampa and Newport Beach offices, which is a testament to our national platform and our ability to move capital throughout the country to service our clients’ real estate needs,” concluded Babb.

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

Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL

(813) 387-4700

Bull Realty Brokers $7.6 Million Medical Office Building in Florida


 
Michael Bull
ATLANTA, GA (Jan. 8, 2016) —Healthcare Real Estate Services at Bull Realty brokered the sale of Lange Eye Institute, a 23,000  SF Class B Medical Office Building located in The Villages, FL. The sale closed on Dec. 15, 2015 for $7.6 million.

The property was 100% leased at the time of sale. Lange Eye Institute will remain the primary tenant. Other tenants include VIP Dentistry, Southern Trace Chiropractic, Center for Retina Macular Disease and Dr. Floyd Foot & Ankle.

The team of Michael Bull and Paul Zeman with Bull Realty worked with H.L. Roberts of H.L. Roberts Realty as the brokers on the deal.

The buyer was Flagship Capital Partners, LLC. “This is a long-term buy and hold for the buyer,” said Zeman.

Healthcare Real Estate Services (www.HealthcareRealEstateServices.com) are specialty brokers with Bull Realty, Inc. (www.BullRealty.com), a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services.

The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com). The popular weekly show is broadcast on 47 radio stations nationwide, iTunes, YouTube and CREshow.com. Bull Realty FL License # CQ1026029
  
For a complete copy of the company’s news release, please contact:

Melissa Henry
Communications Associate
Bull Realty, Inc.
50 Glenlake Pkwy, Suite 600
Atlanta, GA  30328

404-876-1640 x 110

HFF closes sale of corner site near Lincoln Road in Miami Beach, FL



1575 Alton Road, Miami Beach, FL

 
Daniel Finkle
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of 1575 Alton Road, a 15,000-square-foot corner site one block south of Lincoln Road in Miami Beach, Florida. 

HFF marketed the property on behalf of the seller, Bridgestone Retail Operations, LLC. 

1575 Alton is currently occupied by a Firestone service center but could accommodate a new mixed-use, multi-level structure up to 22,250 square feet.  

Built in 1935, the property is located at the southeast corner of Alton Road and 16th Street, one block south of Lincoln Road, one of the premier shopping districts in the country and top tourist attractions in Miami.

 Additionally, Alton Road is Miami Beach’s primary commercial north-south thoroughfare.

The HFF capital markets team representing the seller was led by managing director Luis Castillo and senior managing director Daniel Finkle.

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