HFF hires John Merrill to lead its investment sales platform in Indianapolis

 

John Merrill

INDIANAPOLIS, IN –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has hired John Merrill as a senior managing director in its Indianapolis office, where he will co-head the office as well as lead HFF’s investment sales platform in the city.

 Mr. Merrill will co-head the Indianapolis office with senior managing director David Keller, who leads the debt and equity placement platform for the office.

Mr. Merrill joins HFF from CBRE where he led their Indianapolis office as a managing director/market leader since 2010.  He joined the firm to establish its Indianapolis Commercial Investment Properties Group in 1996 and since that time has closed more than $2.5 billion in sales in Indiana and throughout the Midwest. 

Mr. Merrill also spent time at Duke Realty Corporation and PricewaterhouseCoopers.  He is on the Board of Directors at The Leukemia & Lymphoma Society, Indiana Chapter; The YMCA of Greater Indianapolis; BOMA’s Indiana Chapter; and NAIOP’s Indiana Chapter. 

Mr. Merrill has been recognized by Midwest Real Estate News in the 2015 Commercial Real Estate Hall of Fame and is a graduate of Indiana State University.

David Keller

“Our goal in each office is to build out the full platform of services and property specializations one person at a time, with best-in-class professionals who share the same guiding principles as our firm – client focused, team-oriented, hard-working individuals who are leaders in their market,” said Keller.

 “John has been the person we have focused on and pursued for quite some time and could not be a better match.  We look forward to the contributions and growth he will bring to our Indianapolis and Midwest investment sales platform.”

  

“We are really excited about John joining our team and believe he will thrive in our player/coach model where he can drive and execute business throughout the Midwestern markets as an addition to our already strong Midwest investment sales team,” added Matthew Lawton an executive managing director in HFF’s Chicago office.

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

Kristen M. Murphy

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 hires John Churchward as a director in its San Francisco office

  

 

John Churchward

SAN FRANCISCO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced John Churchward has joined its San Francisco office as a director focused on debt and equity placement transactions in the Bay Area.

Mr. Churchward has nearly 20 years of experience in mortgage banking and commercial real estate.  He joins HFF from Palmer Capital, where he was a structured finance partner for the past six years. 

Prior thereto, Mr. Churchward spent the majority of his career with iStar Financial, Inc. as a member of the investment team in Boston and New York.  Mr. Churchward is a licensed California real estate broker and holds a bachelor’s degree in engineering from Brown University.

“John is a wonderful complement to HFF’s existing debt placement team and brings with him extensive capital market knowledge in the banking, insurance and REIT sectors,” said Steven Golubchik, senior managing director and co-head of HFF’s San Francisco office.

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

Stepp Commercial Expands Presence in Westside Los Angeles; Names Jay Levine Associate of Investment Sales

  

Jay Levine

SANTA MONICA, CA – Stepp Commercial, a leading multifamily brokerage firm in the Westside market of Los Angeles, has named Jay Levine as associate of investment sales. In this role, he will focus on apartment investment sales transactions within the City of West Hollywood as well as other prime Westside locations.

“Jay will add new energy and breadth of marketing experience to our team and will focus on expanding Stepp Commercial’s brand in key geographic areas of Los Angeles,” said Kimberly Roberts Stepp, president and co-founder of Stepp Commercial. “He offers a strong knowledge of the local market and a successful professional and sales background.” 

 Levine was previously an executive producer in the music industry where he was responsible for numerous multi-million dollar deals. He also worked as a consultant with the chairman of both Warner Music Group and Columbia Records. 

Stepp Commercial is a brokerage firm specializing in the multifamily sector for properties ranging in size from $1 million to $50 million. Stepp Commercial’s mission is to provide apartment owners with a fully integrated sales platform that includes comprehensive market knowledge and local real estate expertise to successfully complete any type of multifamily transaction.

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

Darcie Giacchetto

949.278.6224

www.SteppCommercial.com

NAI Realvest Negotiates Industrial Property Sales in West Orange County, FL Totaling Nearly $1 Million

  

Patty Nolff

ORLANDO, FL – NAI Realvest recently negotiated two industrial sales totaling $990,000 for free-standing buildings totaling 14,316 usable square feet in West Orange County. 

Michael Heidrich, principal at NAI Realvest, and associate Patty Nolff represented Seller Cutlass Enterprises, Inc. of Indianapolis in the sale of a 7,200 square foot industrial building on an acre at 431 Enterprise St. near SR 429 in Ocoee.   Buyer Duston Properties, II, LLC of Winter Garden paid $525,000 for the property. 

Associate Chris Adams represented Seller Tiger Investment Group, Inc. of Jacksonville in the sale of a 7,116 square foot office-warehouse building at 4436 Old Winter Garden Rd. in the Pine Hills area of Orlando.   CCBF, LP of Orlando purchased the property for $465,000.   

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

                                        

Centex to Host Grand Opening at Whaley’s Creek in St. Cloud, FL April 23 to showcase new single-family homes priced from the low-$200s

 

Lyndsey Patterson

ST. CLOUD, FL -- Centex will host a grand opening Saturday April 23 at Whaley’s Creek, its newest community with single-family homes on 50' and 60' homesites located off of  Canoe Creek Rd. in St. Cloud.

Lyndsey Patterson, director of marketing for Centex in the North Florida region, said the grand opening event is open to the public from 11 a.m. to 2 p.m. at 3902 Baja Drive, St. Cloud, FL 34772. “We’ll have food, beverages, live music and children’s activities.” 

Visitors are welcome to bring their families to explore two furnished model homes – the Oasis and Citrus Grove.

Six distinct floor plans ranging from 1,972 square feet of living area to over 3,172 square feet with features that include open gathering areas, superior storage and flex spaces that can be adapted to any homeowner’s lifestyle.

Centex plans to build 169 new two to six bedroom homes at Whaley’s Creek which is just minutes from popular shopping, dining and entertainment on U.S. 192 and less than three miles from the Florida Turnpike providing easy access to Orlando. 

Residents at Whaley’s Creek will enjoy amenities that include a community pool and playground with no CDD Fees. The community is also located in the Osceola district with desirable and highly rated schools.

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

 www.centex.com/whaleysCreek  

Hold-Thyssen Closes on Lease of In-Line Retail Space at Morningside Plaza in Dade City, FL

  

Therese Taylor

Dade City, FL  --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park with offices in Clearwater, recently completed a lease agreement for 2,800 square feet of in-line retail space at Morningside Plaza, 12540 US Highway 301 in Dade City.   

Therese Taylor, transaction specialist in the firm’s Winter Park office, brokered the transaction on behalf of the landlord Morningside Dade City DE, LLC.  

The new tenant -- The Cloud Lab Vapor Store – signed a three-year lease and completed build out of the shopping center space for its entertainment business. 

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

Scout & Molly’s Brings Thoroughbred Style to the Growing Fashion Collection at The Summit at Fritz Farm in Lexington, KY

  

Terri Jones Stein

LEXINGTON, KY — As Lexington readies itself for the season of thoroughbred racing, Bayer Properties, the developers of The Summit at Fritz Farm, is ensuring that the new mixed-use development will provide an inspiring complementary destination for racing enthusiasts.

The Summit at Fritz Farm, which is near Keeneland and in close proximity to many of the thoroughbred horse farms, is providing a handcrafted collection of locally owned and specialty national retailers at its mixed-use development opening March 2017.

Scout & Molly’s epitomizes the spirit of Lexington and offers a unique selection of women’s clothing and accessories perfect for weekends at Keeneland.

With more than 20 individually-owned boutiques nationwide, each Scout & Molly’s offers women’s designer brand clothing with an innovative twist and personal stylists to assist shoppers. 

Terri Jones Stein and Ami Bertrand, the Lexington co-owners of Scout and Molly’s, added, “The Summit at Fritz Farm is going to take people’s breath away, and once we learned about the uniqueness of the property, we knew there was nowhere else in Lexington we would rather have our Scout & Molly’s.”

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

                                      

Gayle MacIntyre

The Wilbert Group

Tel: 404.643.8222

gamacintyre@thewilbertgroup.com

Berger Commercial Realty Closes $5.7 Million Sale of South Florida Sports Complex Building in Deerfield Beach, FL

 South Florida Sports Complex, 3650 SW 10th Street, Deerfield Beach, FL

 

Joseph Byrnes

FORT LAUDERDALE, FL - Berger Commercial Realty brokers Joe Byrnes and Jonathan Thiel represented Thame Realty Associates, LLC in the $5.7 million sale of the South Florida Sports Complex building to LMD Sports, LLC.

 Located at 3650 S.W. 10th Street in Deerfield Beach, the 63,332-square-foot building was home to an indoor sports center featuring three basketball courts, four volleyball courts, a soccer field, hockey rink, fitness center, retail space, concession bar, spinning and Zumba studios, locker rooms, showers and event facilities.

The property sits on a 3.71-acre lot less than one mile from the Sawgrass Expressway, I-95 and Florida's Turnpike, across the street from Quiet Waters Park. Built in 1998, the building originally opened as a sports mall with a Gold's Gym. It has been vacant since early 2014.

"This was a challenging property to sell, given that during its two-year vacancy, the building had been vandalized and didn't have electricity or air-conditioning," said Byrnes. "The negotiation and closing process also required a great deal of finesse. We are definitely pleased with the outcome and that it sold for more than $5 million."

The buyer, an internationally renowned volleyball instructor, plans to renovate the building into a world class tournament and training facility. A portion of the space will be leased to a group that provides specialized, next-level training to teenagers and children that have special talents and aptitudes for basketball and baseball. Other sports and auxiliary tenants are being sought to lease space in the building as well.

 

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

954-776-1999

Pierson Grant Public Relations

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

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

Berger Commercial Realty Announces New 550 Building in Downtown Fort Lauderdale, FL

Rendering of planned 550 Building, Downtown Fort Lauderdale, FL

Lloyd Berger

FORT LAUDERDALE, FL  – Berger Commercial Realty announced it has been awarded the leasing and management assignment for a new seven-story, Class “A” office tower being developed in downtown Fort Lauderdale by Blackhawk Properties & Investments, LLC.

Located at 550 S. Andrews Ave., the new 70,000-square-foot building, which will have an attached parking garage, is slated to open in fall 2017. With a groundbreaking scheduled for summer 2016, this is the first new office building to be built south of the New River since 1989.

The property formerly housed the 32,500-square-foot Justice Building, which was purchased by Blackhawk in December 2013. The new development will be known as the 550 Building.

"The old building had a great location, but the site was underutilized," said Lloyd Berger, founder and president of Berger Commercial Realty. 

"With its location next to the new 700,000-square-foot Broward County Judicial Complex, thousands of new multi-family units, and a proposed stop for the new Wave street car line, we expect that the new 550 Building will generate tremendous interest and will become one of the premier, sought-after buildings in this area for office and retail tenants alike."

Developers of the 550 Building include Kate Murphy of Collins Capital  Partners, Thomas McDonald of Craven Thompson & Associates, and William Murphy of Douglas Management, who was part of the team that developed the current Broward County School Board building.

Designed by the award-winning architectural firm of Falkanger, Snyder, Martineau and Yates (FSMY), the building's contemporary design will feature floor-to-ceiling impact glass, a dramatic, modern entranceway and  lobby, and an urban-friendly retail and restaurant plaza on the ground floor with both indoor and outdoor café seating areas.

Stephanie Bernota

Commercial real estate veterans Steve Hyatt, Joseph Byrnes and Stephanie Bernota of Berger Commercial Realty are the exclusive leasing agents for office and retail space at the 550 Building.

For more information about leasing at the 550 Building, contact Berger Commercial Realty at 954-358-0900.

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

954-776-1999

Pierson Grant Public Relations

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

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

Bayer Properties Appoints Molly Mackenzie Chief Operating Officer

Molly Mackenzie

BIRMINGHAM, AL — Bayer Properties announced the appointment of Molly Mackenzie as chief operating officer.

As COO, Mackenzie will oversee the operational activities of Bayer Properties’ growing portfolio of developed, leased, managed and marketed mixed-use real estate.

Mackenzie joins Bayer Properties from Jamestown Properties where as senior vice president of asset management, she directed the development, leasing and management of Ponce City Market in Atlanta, Georgia, as well as other projects throughout the Southeast and New York.

Jeffrey Bayer

“Molly’s extensive background in operations, as well as her experience in asset management, historic renovations and urban infill projects, complements our corporate vision and strategic development plans,” said Jeffrey Bayer, president and CEO. 

“We are committed to creating places that enhance the communities that we serve by providing creative and invigorating consumer experiences.  

Bayer continued, “We welcome Molly’s expertise at this significant juncture in our company’s growth.” 

This fall Bayer Properties will complete the renovation of the historic Pizitz building in downtown Birmingham, Alabama, re-imagining this former department store into residences, boutique retail and a locally inspired food hall.

Bayer Properties is also less than one year away from the March 2017 opening of The Summit at Fritz Farm in Lexington, Kentucky, a mixed-use experiential development that will include 1 million square feet of retail, luxury apartment homes, a boutique hotel and professional office space when completed. 

Mackenzie brings more than 10 years of experience in commercial real estate operations, finance and management. She graduated summa cum laude from the University of Georgia with a B.S. in Business Administration and a concentration in real estate.

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

Savannah Durban

 The Wilbert Group

 Tel: 404-343-0870

  sdurban@thewilbertgroup.com

www.bayerproperties.com

Ackerman Arranges the Sale of 57,219 Square Feet of Retail to Coro Realty in Alpharetta, GA

Atlanta, GA – Ackerman & Co. announced it has arranged the sale of North Point Village Phase I, a 57,219-square-foot retail center in the Atlanta suburb of Alpharetta, Ga.

Sean W. Patrick

 The buyer, Coro Northpoint, LLC, purchased the property in an off-market transaction coordinated by Ackerman & Co. senior brokers John Speros and Sean W. Patrick, CCIM. The team represented the seller, Northpoint Village One, LLC.

The asset sold for $17,195,000. North Point Village Phase I is anchored by Talbots, JoS. A. Bank, Ann Taylor Lofts, Lane Bryant and Learning Express. 

“The trend continues to see capital chase well located, open air centers with accessible parking that will provide long term value for investors and operators,” said Senior Vice President John Speros.

North Point Village Phase I is located across the street from North Point Mall in the high demand Northpoint Retail Corridor that boasts nearly 10 million square feet of retail. “This purchase was a great opportunity for Coro,” said Vice President of Investment Sales Sean W. Patrick, CCIM.

 “The center was built within 200 feet of Northpoint Parkway, allowing for greater visibility, increasing customer walkability experience and enabling cross-shopping,” he added. 

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

Fara Wilson

Vice President

Director of Marketing and Communications

P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

Colonial Companies & MBA Opens Doors Announce First Grant to Cook Children’s Hospital Family

  

Debra Still

WASHINGTON, DC – The Colonial Family of Companies and the Mortgage Bankers Association Opens Doors Foundation (MBA Opens Doors) announced that MBA Opens Doors has provided the inaugural grant as part of its new relationship with Cook Children’s Hospital in Dallas-Ft. Worth, Texas.  

MBA Opens Doors assists families with critically ill or injured children by providing mortgage or rental assistance grants to help them keep their homes in the face of significant medical expenses.  Since its founding in 2011, MBA Opens Doors has provided assistance to over 450 families.

The grant was awarded to the family of Jeremiah, age 3, who lives in Fort Worth with his parents and two young siblings. 

He is currently undergoing chemotherapy. The family has struggled financially since Jeremiah’s diagnosis due to a significant loss of income and increased expenses.

"I want to thank Dave and the entire team at the Colonial Family of Companies for connecting the good people at Cook Children’s Hospital with the Opens Doors Foundation." said Debra Still, CMB, Chairman of the MBA Opens Doors Foundation and President & CEO of Pulte Mortgage.

“From reading the grant applications each month, I have seen how lives are touched by Opens Doors. We are honored to have the chance to help Jeremiah’s family and look forward to helping out many others.”

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

Ali Ahmad

aahmad@mba.org

(202) 557-2727

NAI Realvest Negotiates Sales of Two Industrial Condos at Monroe CommerCenter IV in Sanford, FL

 

Patty Nolff

 ORLANDO, FL – NAI Realvest recently negotiated two industrial condo sales at 4260 Church St. at Monroe CommerCenter IV in Sanford totaling $547,500.00

Michael Heidrich, a principal at NAI Realvest and Associate Patty Nolff represented the seller and developer Small Bay Partners, LLC of Maitland in a sale to interior designer Anne Rue, LLC of Lake Mary who purchased units 1300 and 1316 with 3,750 useable square feet for $247,500.     David Lundberg of Commercial Equity Partners represented the buyer.

Heidrich also brokered a sale to Century Roofing Specialists LLC of DeBary who purchased units 1402 and 1418 at the same industrial building with 3,750 useable square feet for $300,000.

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

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

Passco Companies Scores a Top Hit in Nashville, TN With $51.4 Million Acquisition of Value-Add Multifamily Community

  

The Overlook Apartments, 727 Bell Road, Nashville, TN

 NASHVILLE, TN – Passco Companies, LLC has acquired The Overlook, a 452-unit, 95 percent-occupied multifamily community in Nashville, TN for $51.4 million, according to Colin Gillis, Vice President of Acquisitions, Southeast for Passco Companies.

“This is the reality of finding a property with good bones, located in a great market, which will give us the ability to drive value both in the short-term and in the long-term,” Gillis says. 

The community is a particularly strong investment, as it has consistently high occupancy and is well-maintained, but has not yet been updated since its completion in 1998. 

 The Overlook has large open-plan floorplans with up to 1,250-plus square feet, and sought-after amenities including a high-end fitness center, two pools with cabanas, and nicely landscaped grounds. 

 “The community is located bike-riding distance from both jobs and retail offerings.  In addition, another 1,600 healthcare jobs are coming to this submarket with a new Community Health Systems office campus anticipated to open next year,” Gillis notes. 

The Overlook is also a 15-minute drive to Vanderbilt University and Medical Center, as well as Nashville’s downtown core, in which nearly 3 million square feet of new office space is in the development pipeline. 

“On a near-term basis, our asset will quickly gain value as Passco completes minimal interior upgrades and begins its professional management program,” Gillis adds. “With almost no vacancy in the submarket, this property has previously been rented at below market rates.”

Colin Gillis

“Looking at the longer term, as demand for Nashville housing continues to dramatically rise, The Overlook currently provides quality housing for approximately half the price per square-foot of the downtown market,” he points out.  “This bodes quite well for future value increases.”

Passco already owns a neighboring multifamily community in the same neighborhood, called Cambridge at Hickory Hollow, which it acquired in 2014.  Passco has been able to drive value through a similar upgrade program at that property.

Passco now acquired this second property based on its first experience and on seeing continuing growth in the immediate submarket, as well as the new development projects coming to the greater Nashville area.

“Nashville’s rapid growth is no longer news to anyone,” Gillis says.  “We were seeking another opportunity in the market as it perfectly matches our continued strategy of identifying and acquiring value-add and core assets in growing markets throughout the country that are positioned to perform well over time.  In fact, we are now pursuing additional multifamily opportunities here.”

The Overlook is located at 727 Bell Road in Nashville.

Russ Oldham, Senior Vice President with CBRE represented both Passco as the buyer and Olympus Properties as the seller in the transaction. Chris Black of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Companies through Fannie Mae.

  

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

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

lastfalk@browermillercole.com

         

www.passco.com.

HFF represents Fortis Property Group, LLC and Joy Construction Corporation in the sale of Atelier Williamsburg in Brooklyn, NY

 

Andrew Scandalios

NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced it represented Fortis Property Group, LLC and Joy Construction Corporation in the sale of Atelier Williamsburg, a newly-developed, 120-unit, six-story residential property in the Williamsburg neighborhood of Brooklyn, New York.

Atelier Williamsburg is located at 239-261 North 9th Street equidistant to the Lorimer and Bedford Avenue subway stations in Williamsburg.

 Additionally, the property is within walking distance of McCarren Park and the East River Waterfront as well as numerous highly-rated restaurants.

 Completed in 2015, the property has studio, one- and two-bedroom rental units each with top-of-the-line finishes, such as stainless steel appliances, 10-foot ceilings, hardwood floors, soaking bathtubs and oversized washer/dryers in all units.

 Other property amenities include a 24-hour doorman; rooftop deck with barbecues and skyline views; resident lounge with billiards table and entertaining kitchen; landscaped courtyard; and state-of-the-art fitness center.

The HFF investment sales team representing the seller was led by senior managing director Andrew Scandalios and managing directors Jeff Julien and Rob Hinckley.

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