Wednesday, August 3, 2016

HFF closes $16.3 million sale of Two single-tenant Albertsons stores near Seattle, WA

  
 
Albertsons Stores are in Renton, WA and Milton, WA

Nick Foster

NEWPORT BEACH, CA,  Aug. 3, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $16.3 million sale of two single-tenant Albertsons grocery stores totaling 97,021 square feet in Renton and Milton, Washington.

HFF marketed the two properties on behalf of the seller, HH Property North, LLC.  CE Enterprise Partners, LLC purchased both properties.

The sale included a 43,130-square-foot store in Renton, which was renovated in 2015.  The building is triple net leased to Albertsons through 2035 and is located 18 miles southeast of Seattle’s city center.

 The 3.55-acre property benefits from strong demographics; within a three-mile radius of the store, there are more than 98,000 residents with an average annual income of more than $96,000.

The second property is located approximately eight miles east of Tacoma and 27 miles south of Seattle.  Situated on 4.2 acres at the intersection of Milton Way and State Route 161, the property is in a trade area with 65,400 households living within a five-mile radius with an annual household income of more than $76,000.  The 53,891-square-foot building is triple net leased to Albertson’s through 2035.


Mark West
The HFF investment sales team representing the seller was led by Nick Foster, Mark West and Nick Kassab.  Bob Tuller of Cushman & Wakefield’s San Francisco office represented the buyer.


“These two properties generated exceptional interest given the strength of the tenant, long-term nature of the leases and dynamic retail locations,” Foster said.


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


Sale of The Palms at Town & Country in Miami, FL closed by HFF


The Palms at Town & Country, 8505 Mills Drive, Miami, FL

Daniel Finkle
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Palms at Town & Country in Miami, which, at 667,757 square feet, is one of the largest and most iconic open-air retail centers in South Florida.

HFF marketed the property on behalf of the seller, TIAA Global Asset Management.  Weingarten Realty Investors purchased the retail center free and clear of existing debt.

The Palms at Town & Country is anchored by Publix, Marshalls, Dick’s Sporting Goods, Nordstrom Rack, Total Wine & More, Kohl’s, Toys”R”Us, 24-Hour Fitness and Forever 21 Red, in addition to inline shop and restaurant tenants, including Blue Martini, Corner Bakery Café, Casavana Cuban Cuisine, CVS, New York & Company and Bath & Body Works. 

Situated on 70 acres at the Florida Turnpike and Kendall Drive interchange in Miami, The Palms at Town & Country is located at 8505 Mills Drive.  This “main and main” location is visible to more than 200,000 vehicles per day with an estimated 485,400 people inhabiting a five-mile radius.

 Redeveloped in 2009, the multi-building center has a Mediterranean theme and is landscaped with a large central water feature with pedestrian bridge and fountain.

 The HFF team that represented the seller was led by senior managing director and co-head of HFF’s retail practice Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.

Luis Castillo
“Investor demand for core, regionally dominant retail centers with strong growth potential far exceeds available investment opportunities in the market,” Finkle said.  “As a result, The Palms at Town & Country was highly coveted.”

"We are extremely pleased to announce our acquisition of The Palms at Town and Country in Miami, Florida,” said Rick Carson, vice president/senior regional director of Development and Acquisitions for Weingarten Realty Investors. 

“Weingarten's acquisition of this marquis asset is consistent with our disciplined strategy to acquire dominant centers in high-barrier-to-entry markets.  

"The 667,000-square-foot center includes both a community center and a lifestyle center and is anchored by a market-leading grocer along with several top-tier power center and fashion tenants.

“This important acquisition serves to further strengthen Weingarten's national portfolio of high-performing centers.”

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


Tuesday, August 2, 2016

$233.3 million construction loan arranged by HFF for development of CNA Center in Chicago’s West Loop


Rendering of planned 35-story office tower at 151 North Franklin, West Loop, Chicago, IL

 
Michael Kavanau
CHICAGO, IL -– Holliday Fenoglio Fowler, L.P. (HFF), in conjunction with The John Buck Company and Bank of the Ozarks, announced the closing of a $233.3 million construction loan for the development of CNA Center, a Class A+, 35-story, trophy office tower at 151 North Franklin in Chicago’s West Loop.

HFF worked on behalf of the developer, The John Buck Company, to place the construction loan with Bank of the Ozarks.

Designed by the internationally-acclaimed firms of John Ronan Architects and Adamson Associates, CNA Center will be the new world headquarters of CNA, a leading insurance organization and the principal subsidiary and operating company of CNA Financial. 

Additionally, the center will be the new national headquarters for Hinshaw & Culbertson LLP, an international law firm.  The finished office tower will feature 807,137 rentable square feet and a 500-stall, attached parking garage in addition to 34 lower-level parking stalls. 

The LEED Gold-certified building will offer tenants column-free, 25,000-square-foot floor plates with uninterrupted views and an extensive list of building amenities, including a 4,200-square-foot rooftop terrace with bar, 10,000 square feet of landscaped exterior courtyards, professionally-managed fitness center, 250-seat conference center, restaurant, bike room and café/coffee bar.

Dan Kaufman
 The tower is currently under construction and will be completed in the summer of 2018.  CNA Center’s location is in the heart of Chicago’s West Loop.

The HFF debt placement team representing the borrower was led by senior managing director Michael Kavanau and managing director Danny Kaufman.

“It has been a pleasure to work with Bank of the Ozarks on behalf of The John Buck Companies,” Kaufman said.  “Both organizations are absolutely best in class, and have come together to plan and execute a landmark office development here in downtown Chicago.”

“We experienced a very strong response from the capital markets to CNA Center,” Kavanau added.  “There have been very few new office towers built in this cycle and very strong tenant demand for new Class A+ space.”

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


.

Atlanta Regional Commission Signs Letter of Intent for 50,000-Square-Foot Space at Peachtree Center


Kay Younglove
ATLANTA, GA (Aug. 2, 2016) — Peachtree Center, the iconic six-tower, 2.5-million-square-foot mixed-use property in downtown Atlanta, is pleased to announce that the Atlanta Regional Commission (ARC) has signed a letter of intent for approximately 50,000 square feet of space at its International Tower.

Mike Werner, David Horne and Kay Younglove of JLL represented Banyan Street Capital, the owner of Peachtree Center, in the transaction, and John Izard and Cathy Sheehan of Cushman & Wakefield represented ARC.


“Symbolically located at the heart of the Atlanta region, Peachtree Center’s downtown vibrancy and modernization plans align with our values at ARC,” said Kerry Armstrong, ARC board chair.

“Peachtree Center will provide us with expanded and enhanced amenities, including improved accessibility for those riding bus or rail transit, in a highly walkable area. ARC has been working for decades to foster this kind of development throughout the Atlanta region.”

Kerry Armstrong
ARC, the official planning and intergovernmental coordination agency for the 10-county Atlanta region, will relocate its approximately 200 employees to Peachtree Center, taking occupancy next summer. In addition to two and a half floors of office space, ARC will lease about 9,000 square feet of conference and community meeting space.

“We’re excited to welcome such an impactful organization to Peachtree Center,” said Kay Younglove, senior vice president for JLL who represented Banyan Street Capital in the transaction. 

“ARC is an excellent addition to our all-star tenant roster, and its decision to move to Peachtree Center further supports the types of amenities today’s companies seek.” 

In addition to connectivity to public transit, Peachtree Center hosts community events such as the Peachtree Center Green Market, a lunchtime farmers market open to the public every Thursday.

Guests and office workers have the unique opportunity to stock up on fresh produce, freshly baked bread, imported cheese and more. Next year, Peachtree Center is poised to undergo redevelopment of its three-story retail center and courtyard, creating a modernized hub of destination retailers and restaurants.

Other top companies that have recently moved to Peachtree Center include Urban Land Institute Atlanta, Fifth Group Restaurants and Web.com.

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

Meredith Pierce • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-343-0108 • M: 478-719-9958
@meredithfierce

peachtreecenter.com or
facebook.com/peachtreecenter.
     



NAI Realvest Negotiates New Retail Leases at Florida One Shoppes in South Orlando and Westmonte Plaza in Altamonte Springs, FL


Kim Manson


Jeffrey Tanner
ORLANDO, FL  – NAI Realvest Director of Retail and Investment Sales Kim Manson and Senior Vice President Jeffrey Tanner recently completed two new lease agreements for retail space in South Orlando and in Altamonte Springs representing the tenants and the landlords.

Tenant Ernesto Camilo Sarabia, Yaquelin Boulandier and ES Capital Group, Inc. an insurance brokerage firm, leased Unit 18 with 1,320 rentable square feet at Florida One Shoppes, 9350 S. Orange Blossom Trail.  

The Landlord is Florida One Family Limited Partnership based in Altamonte Springs.

Ganesha Greenery, a fresh juice shop with coffee, smoothies and organic treats, leased 1,600 rentable square feet in Suite 1132 at 185 S. Westmonte Drive in Altamonte Springs. The landlord is Westmonte Plaza, Inc.


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

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



Second Quarter 2016 Operating Results Announced by National Retail Properties Inc.

  
Craig Macnab
Orlando, FL,  Aug. 2, 2016 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced its operating results for the quarter and six months ended June 30, 2016.

Craig Macnab, Chief Executive Officer, commented: "2016 is off to a terrific start with better than expected acquisitions. Our balance sheet remains very strong and our portfolio occupancy continues to be exceptional.

“Also, we are pleased to have recently announced a 4.6% increase in our third quarter dividend which will make 2016 our 27th consecutive year of increased annual dividends per share."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. 

As of June 30, 2016, the company owned 2,452 properties in 48 states with a gross leasable area of approximately 26.3 million square
feet and with a weighted average remaining lease term of 11.4 years.

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

Kevin B. Habicht
Chief Financial Officer
(407) 265-7348

NAIOP South Florida Welcomes 225 Industry Professionals for Mid-Year Update and “The Bus Stops Here…Highlighting Broward County” Tour



NAIOP South Florida Executive Director Jules Morgan, Avison Young Principal Gregory P. Martin, Metropica Development Vice President Erick Collazo, Treadwell Franklin Infrastructure Capital Executive and Founding Partner Eric Swanson, Stiles President Scott MacLaren, Duke Realty Regional Senior Vice President Ed Mitchell


FORT LAUDERDALE, FL (August 2, 2016) – NAIOP South Florida, a Commercial Real Estate Development Organization, recently welcomed more than 200 industry professionals for its Mid-Year Update and “The Bus Stops Here…Highlighting Broward County” tour.


                                                          Hosted by Duke Realty at its new Pembroke Pointe 880 building, the event featured a luncheon, a panel of South Florida’s leading developers, and an ‘off the bus’ tour of Broward County’s most prominent commercial real estate properties, companies and organizations.

The panel, which was moderated by Avison Young Principal Gregory P. Martin, consisted of Metropica Development Vice President Erick Collazo, Stiles President Scott MacLaren, Duke Realty Regional Senior Vice President Ed Mitchell and Treadwell Franklin Infrastructure Capital Executive and Founding   Partner Eric Swanson.                                                                                                                                                                                                                                                                                                                            
          The panelists discussed a range of topics including emerging trends, upcoming opportunities and future development and fielded questions from their peers in the audience.


“One of the most engaging points raised during the panel was how online retailers and the Latin market are affecting local commercial real estate, specifically, physical retail and showroom space,” said NAIOP South Florida Executive Director Jules R. Morgan.

“With online shopping for products and services becoming more prominent, the need for brick and mortar outlets is being debated. The commercial real estate landscape is changing and it will be interesting tojsee how this will influence South Florida in the future.”
                                                                                                                                                                                                                                                                                           Jules R.Morgan
                                                                                                                                                                       




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

954-776-1999
Pierson Grant Public Relations
Lexi Robinson, ext. 255




HFF closes $112.5 million sale of The Envoy Hotel, a Marriott Autograph Collection hotel in Boston, MA


 
Denny Meikleham
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $112.5 million sale of The Envoy Hotel, an iconic, full-service, 136-room boutique hotel in Boston’s Seaport District. 

HFF marketed the property on behalf of the seller, Norwich Partners. 

Completed in June 2015, the four-diamond, AAA-rated Envoy Hotel has become one of Boston’s most popular hotels.  The Envoy Hotel is located at 70 Sleeper Street at the nexus of Boston’s Seaport and Financial District. 

The hotel is adjacent to numerous corporate demand generators, including Vertex Pharmaceuticals, PriceWaterHouseCoopers and the new GE Corporate Campus, as well as numerous office, residential and retail projects.

 Additionally, the hotel is within walking distance to more than 10 major tourist attractions, more than 25 restaurants and the Boston Convention & Exhibition Center.  Logan International Airport is also easily accessible via water taxi or via the Ted Williams Tunnel. 

The hotel features two food and beverage outlets, Outlook Kitchen + Bar, the hotel’s signature restaurant; and the popular Lookout Rooftop Bar, which is the only rooftop venue in the city providing views of the Boston skyline and the waterfront.

Alan Suzuki
 The Envoy Hotel is part of Marriott’s Autograph Collection, making it among an elite class of only 95 hotels globally to earn that distinction.

The HFF investment sales team representing the seller was led by managing director Denny Meikleham and director Alan Suzuki.

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

Kristen M. Murphy
Director, Marketing
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


Monday, August 1, 2016

HFF closes sale of 2 retail properties in Houston, TX


Ryan West
HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of two retail properties totaling 98,669 square feet in the Houston metropolitan area.

The sale includes the 84,669-square-foot Spring Town Center and the 18,000-square-foot Winchester Town Center. 

HFF marketed the assets on behalf of the seller.  Property Commerce Dividend Fund purchased both of the assets for an undisclosed amount. 

Completed in stages between 2003 and 2005, Spring Town Center is 98.4 percent leased to national and regional tenants, including Chili’s Bar & Grill, Walgreens, Bank of America, Dollar Tree, Buffalo Wild Wings, Capital One, Payless Shoe Source, Bank of America, Wendy’s, Sally Beauty Supply, Great Clips, Game Stop and Massage Heights. 

Additionally, the center is shadow anchored by Wal-Mart.  Situated on 14.04 acres at 2116 Kuykendahl Road in the Houston suburb of Spring, the center is at the northeastern corner of Kuykendahl Road and FM 2920 28 miles north of downtown Houston. 

Winchester Town Center was completed in 2004.  The center is fully leased and shadow anchored by Kroger.  Located at 9344 Jones Road, Winchester Town Center is at the southeast corner of West and Jones Roads in northeast Houston approximately 25 miles from downtown. 

The HFF investment sales team representing the seller was led by senior managing director Ryan West.

“These deals are great examples of how quickly a new suburban development in Houston can become an attractive growth vehicle for an investor,” West said. 

“When it was built 10 years ago, Spring Town Center was in the path of growth and pushed the upper limits of rental rates at the time. Today, it has characteristics of an infill asset, certainly as it relates to below-market rents and tenant demand for space in the center. 

“Year after year, this theme is a product of Houston’s growth story; owners recognize it because they experience it first hand, and it’s why we see repeat, often local buyers.”


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

Kristen M. Murphy
Director, Marketing
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 arranges $28.4 million financing for Class A mid-rise multi-housing development in Atlanta, GA


Jason Nettles

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $28.4 million in construction financing and advised on the equity capitalization for the development of SPOKE, a 224-unit, Class A mid-rise multi-housing project in Atlanta’s Edgewood neighborhood.

HFF worked on behalf of the developer, Columbia Ventures LLC.

SPOKE is the first phase of a 6.36-acre, urban infill, master planned project being developed in partnership with the Metropolitan Atlanta Rapid Transit Authority (MARTA).

 Situated just south of DeKalb Avenue at 1471 La France Street, the project will have direct access to MARTA via the Edgewood/Candler Park station, and will feature pedestrian-friendly public spaces that blend with the surrounding neighborhood. 

Due for completion in 2017, SPOKE will offer a variety of studio, one- and two-bedroom floor plans averaging 800 square feet each with the residential component situated above two levels of podium parking. 

Units will feature granite countertops with tile backsplashes; Energy Star-rated stainless steel appliances; kitchen islands; in-unit washers and dryers; faux wood plank flooring; frameless glass showers; granite-topped double bathroom vanities; walk-in closets; and terraces/balconies.

Chip Sykes
 Community amenities include a resort-style swimming pool, outdoor fireplace and cabanas, fitness center, clubroom with gaming area, sky lounge and dog park.

The HFF team representing the developer was led by senior managing director Jason Nettles and director Chip Sykes.

“Ideally situated in the historic Edgewood/Candler Park neighborhood, this development will combine modern features with the convenience of mass transit with its on-site access to MARTA,” said Sykes.

“Additionally, the asset will be positioned within walking distance to retail amenities at Edgewood Shopping Center, Little Five Points, DeKalb Avenue and the Edgewood Retail District, and will provide immediate access to jobs in Midtown and downtown Atlanta.”

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



First international luxury hotel in Changsha, China set to unveil in September, 2016


The Luxury Collection Hotel Changsha, China

 Changsha, China -- The Luxury Collection® Hotels & Resorts, has announced it will open The Luxury Collection Hotel, Changsha, an elegant and iconic property that will rise high above the Xiangjiang River in the epicenter of where urban culture and commerce meet 3,000 years of history.  

The graceful landmark, invested by China Jinmao Holding Group Limited, designed by Callison RTKL and offering 310 spacious guest rooms -- including 6 suites and an expansive 270-square-meter Presidential Suite – is scheduled to open September 28, 2016.


Chnagsha China Hotel Interior, Changsha, China

“We are excited that China Jinmao is able to bring one of the world’s finest hotel brands to the uniquely charming and historic city of Changsha,” said Mr. Su Jihua, General Manager of Jinmao Hotels, the owning company of The Luxury Collection Hotel, Changsha.

“The first Luxury Collection hotel in Central China and the first international luxury branded hotel to open in Changsha over the years, The Luxury Collection Hotel, Changsha is an integral part of the Meixi Lake Zone in the city’s Two-Oriented Society Pilot District.

“ China Jinmao is committed to leading the development of the high-tech industries in this internationalized service zone and contribute to Changsha’s economy growth.”


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

Hwee Peng Yeo
Vice President, Asia Markets
Glodow Nead Communications
Asia: 65.9768.6087  US:415.394.6500 • E: hweepeng@glodownead.com



Berger Commercial Realty Secures More Than 23,000 Square-Feet in Lease Transactions for Landlords Across Broward County, FL


Judy Dolan
FORT LAUDERDALE, FL (Aug.1, 2016) - Berger Commercial Realty brokers recently secured 23,537 square-feet in lease transactions on behalf of landlords across Broward County.

Cypress Creek Business Park

Senior Vice President Joe Byrnes and Senior Sales Associate Jonathan Thiel represented Rising Tide Development, LLC in the lease expansion of 3,900 square-feet of office space to Encompass Onsite, LLC and the lease renewal of 3,950 square-feet of office space to Handex Consulting & Remediation, LLC at Cypress Creek Business Park.

Located at 6555 N. Powerline Road in Fort Lauderdale, Cypress Creek Business Park consists of two buildings totaling 54,600 square-feet of office and flex space. The park features ample parking, round-the-clock access, and close proximity to I-95 and Florida's Turnpike.

Woolbright Professional Building

Sales Associate Robert Dabrowski represented Woolbright Properties & Investments, LLC in leasing 3,228 square-feet of office space to Mutual of Omaha at the Woolbright Professional Building.

Annette Bishop
Located at 2240 W. Woolbright Road in Boynton Beach, the Woolbright Professional Building is adjacent to I-95 on the south side of West Woolbright Road just east of Congress Avenue. 

The four-story, class A office building features ample parking with covered spots, individual air conditioning units in each suite, and a security system with 24-hour entry.

Berger Commercial Realty has served as the exclusive leasing agent for the Woolbright Professional Building since 2014, when the firm was awarded a 280,000-square-foot office portfolio by Kendall Properties consisting of seven buildings on four different properties in Palm Beach County.

2019 B Hollywood Blvd.

Senior Vice President Judy Dolan and Sales Associate Annette Bishop represented 2019-2030 Hollywood, LLC in leasing 1,800 square-feet of retail space to Globalogie, Inc. at 2019 B Hollywood Blvd. in Hollywood. The space is located in the heart of downtown Hollywood's shopping district on Hollywood Boulevard between Young Circle and 21st Avenue.

Executive Airport Business Center

Along with Senior Vice President Judy Dolan, Jonathan Thiel represented TCPH Broward, LLC in leasing 2,580 square-feet of office space to Pointer Construction Group, LLC at the Executive Airport Business Center. Senior Vice President St. George Guardabassi represented the tenant in the transaction.


Joe Byrnes

Located at 5101 N.W. 21st Ave. in Fort Lauderdale, the 73,130-square-foot Executive Airport Business Center is a class-A business park featuring a diverse tenant mix of retail, medical, telecommunications, real estate and professional service industries.

 The park is located directly across from Fort Lauderdale Executive Airport and offers close proximity to Commercial Boulevard, I-95 and Florida's Turnpike.

Enterprise Commerce Center

Senior Vice President Keith Graves and Sales Associate John Forman represented Mancini & Sons Florida in extending a lease for 2,432 square-feet of flex space to All Pro Painting & Waterproofing, Inc. at the Enterprise Commerce Center in Deerfield Beach.

Located at 5051 N.W. 13th Avenue, the 19,620-square-foot Enterprise Commerce Center building is a class-B warehouse and flex property featuring ample parking, 18-foot ceilings, glass front facades and overhead drive-in shipping doors.

Cypress Creek Executive Court

Joe Byrnes and Jonathan Thiel also represented Rising Tide Development, LLC in the lease expansion of 1,805 square-feet of office space to EMSL Analytical, Inc. at Cypress Creek Executive Court, located at 2700 W. Cypress Creek Road in Fort Lauderdale.

The 70,795-square-foot office park consists of four single-story buildings in a campus-style setting located two miles west of I-95 on Cypress Creek Road in the heart of Fort Lauderdale's uptown office market.

St. George Guardabassi
Miller Legg Building

At the Miller Legg Building in Fort Lauderdale, Keith Graves and Jonathan Thiel represented North Andrews Way Corp. in facilitating:

the lease renewal of 1,443 square-feet of office space to Total Travel & Tickets, Inc.;
the new lease of 1,406 square-feet of office space to Trident Treatment & Dewatering, LLC;

and the new lease of 993 square-feet of office space to Specialty Broker Corporation.
Located at 5701-5775 N. Andrews Way, the 21,871-square-foot multi-tenant office building sits on a 1.76-acre lot adjacent to the Cypress Creek Tri-Rail Station and provides convenient access and exposure to I-95.

The brokers represented North Andrews Way Corp. in the $2.35 million purchase of the building in January. The property is currently more than 95 percent occupied with local consulting firm Miller Legg as its anchor tenant.

For more information about Berger Commercial Realty's leasing services, call 954-358-0900.

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

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


$1.4 Million Sale of Miami Auto Repair Property Closed by Berger Commercial Realty


Jonathan Thiel
FORT LAUDERDALE, FL  - Berger Commercial Realty Senior Vice President Joe Byrnes and Senior Sales Associate Jonathan Thiel recently represented The Two J's in the $1.4 million sale of a Miami automotive repair property to Vinamrata Mehta. Formerly Power Brake Exchange, the property is slated to become a clothing boutique.
 
Located at 2050, 2036 and 2030 N.W. 23rd Street in Miami, the property consists of three interconnected buildings totaling 14,771 square-feet of retail space. Its corner location offers high visibility and close proximity to the Dolphin Expressway, I-95 and Miami International Airport.

"It's rare to find an available corner lot in Miami's Allapattah warehouse district, which is located just northwest of downtown Miami and about five miles east of Miami International Airport," said Thiel.

"The property's versatility also makes it unique. It can accommodate tenants in automotive, marine or retail industries thanks to its ample parking, tall ceilings and convenient access to major roads and waterways."

Located within ten miles of Miami's Upper East Side and Miami Beach, the property is within reach of consumers that frequent the MiMo Historic District, South Beach, downtown Miami and the Port of Miami, which collectively form the commercial center of South Florida.

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

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


Marcus & Millichap Handles $8.55 Million Sale of 78-Unit Oasis at Naples Apartment Communitiy in Naples, FL


Michael Donaldson
NAPLES, 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 Oasis at Naples, a 78-unit apartment property located in Naples, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $8,550,000.

Nicholas Meoli and Michael Donaldson, both vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was also represented by the two brokers.

Oasis at Naples is a garden-style condominium community located at 2110 Arbour Walk Circle in Naples, Florida.  The sale included 78 out of 188 condominium units built in 1992.

The unit mix consists of 11, one-bedroom/one-bathroom units with 648 rentable square feet, six, one-bedroom/one-bathroom units with 760 rentable square feet, 48, two-bedroom/two-bathroom units with 918 rentable square feet, nine, two-bedroom/two-bathroom units with 989 rentable square feet and four, two-bedroom/two-bathroom units with 1,022 rentable square feet.

The condominiums have fully equipped kitchens including stainless steel appliances, dishwashers, garbage disposals, raised panel cabinet doors and formica countertops. 

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

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

(813) 387-4700

Marcus & Millichap Brokers $2.65 Million Sale of 40-Unit River Trace Apartments in New Port Richey, FL


Jason Hague
NEW PORT RICHEY, 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 River Trace Apartments, a 40-unit apartment community located in New Port Richey, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $2,650,000.

Jason Hague, associate, Nicholas Meoli, vice president investments, and Michael Donaldson, vice president investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

The buyer, a foreign purchasing entity, was also secured and represented by the three brokers.

“Through our national and international marketing campaign we were able to generate an offer at 98 percent of the list price and put the property under contract with an international investor within two days of being on market,” says Hague.

“The property went through significant condo grade interior renovations in 2006, which allowed us to achieve over $66,000 per unit, one of the highest price per unit sales achieved for an apartment community under 100 units in Pasco County history.”

Nicholas Meoli
River Trace Apartments is a 40-unit apartment community situated less than one mile west of U.S. Highway 19 at 5511 Executive Drive in New Port Richey, which is in Pasco County, Florida.

The property consists of five buildings constructed in the late 1980’s, and sits on just under two acres of land. The unit mix consists of 40 two-bedroom/two-bathroom units approximately 1,035 rentable square feet.

 Every unit has gone through significant renovations including tile floor in the kitchen, granite countertops (select units), stainless steel appliances (select units), upgraded bathrooms and full washers/dryers in roughly half the units.

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

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

(813) 387-4700