Marcus & Millichap Arranges $1 Million Sale of 24-Unit Woodland Bend Apartments in Ocala, FL

Jason Hague

OCALA, 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 Woodland Bend Apartments, a 24-unit apartment property located in Ocala, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,050,000.

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

The buyer, an individual/personal trust, was secured and represented by Hague, Donaldson and Meoli. 

Woodland Bend Apartments is a 24-unit, garden-style community located at 720 Northeast 30th Avenue in Ocala, Florida. The property is made up of five buildings in total that sit on approximately 1.91 acres.

The unit mix consists of 24 two-bedroom/one-bathroom units which are approximately 900 rentable square feet in size. Woodland Bend Apartments is situated one block north of East Silver Springs Boulevard, a major thoroughfare which sees over 25,000 cars daily.

 

Nicholas Meoli

“After one month of marketing Woodland Bend through our proprietary national platform, our team was able to generate five offers,” says Hague. “We ultimately closed on an all cash basis with an investor who was in a 1031 exchange.”

“Due to the high amount of activity that we received, we were able to guide the buyer to a quick 21-day closing in order to keep their offer competitive. 

"This transaction is a true indication of how active the current multifamily market is, even in tertiary markets such as Ocala,” concludes Hague.

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

                   

Ari Ravi

Regional Manager

Tampa, FL

(813) 387-4700

Parallon East Florida Supply Chain Services Expands to 96,000 SF of Space at Miramar Park of Commerce in Miramar, FL

Lauren Pace

MIRAMAR, FL -- Central Shared Services, LLC d/b/a Parallon East Florida Supply Chain Services, recently expanded to 96,238 sq. ft. of space at 10094 Premier Parkway in the Miramar Park of Commerce, the largest locally owned and managed business park in South Florida.

Parallon East Florida Supply Chain Services is a provider of medical and surgical supplies for HCA East Florida, a network of more than 30 healthcare facilities across South Florida and an affiliate of Hospital Corporation of America (HCA).

From the Park, Parallon East Florida Supply Chain Services distributes medical supplies to HCA East Florida's fourteen affiliated hospitals, twelve surgery centers, four free-standing emergency care complexes, two open imaging centers and one integrated regional laboratory. 

The company expanded its space by approximately 20,000 sq. ft. to begin the distribution of consolidated pharmacy supplies to these facilities.

"The Miramar Park of Commerce is ideal due to its close proximity to the facilities we serve," said Chief Operating Officer Tim Piper of Parallon East Florida Supply Chain Services. "We have convenient access to major roads and highways, which easily connects us with our clients from the Treasure Coast to South Miami-Dade County."

Maridee Bell

Parallon East Florida Supply Chain Services currently employs 65 at its location in the Miramar Park of Commerce. With the expansion, the company plans to hire an additional 10 employees.

"In addition to a strategic location, Parallon benefits from the Park's flexibility - there aren't many commercial real estate providers that can expand and contract space to meet the needs of tenants as they change over time," said Maridee Bell, vice president of Sunbeam Properties & Development, developer of the Miramar Park of Commerce.

"This is Parallon's second expansion in the Park. The company has grown to such an extent that they're approaching 100,000 sq. ft. 

"Not only do we have the capacity to house such large-scale tenants, but we have the means to accommodate this growth without moving the tenant to a new location."

In the transaction, Parallon East Florida Supply Chain Services was represented by Tony Martin of TMG Realty Advisors and the Park was represented by Bell and Lauren Pace of Sunbeam Properties & Development.

Coinciding with Parallon East Florida Supply Chain Services' expansion at the Miramar Park of Commerce is HCA East Florida's planned capital investment initiative, which will invest approximately $650 million in healthcare facilities in Miami-Dade, Broward, Palm Beach and St. Lucie counties.

The initiative includes building new facilities and expanding and improving existing healthcare facilities within the East Florida market over the next three years.

The largest health system from the Treasure Coast to Miami-Dade County, HCA East Florida employs more than 16,500 individuals with more than 6,000 physicians on staff, creating an economic impact of more than $2 billion. 

HCA East Florida has the largest emergency room network and the most trauma centers in the area. HCA East Florida hospitals provide $290 million in healthcare services to those unable to pay for their care.

For more information, contact Lauren Pace (lpace@wsvn.com) or Maridee Bell (mbell@wsvn.com) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.

 

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

Lexi Robinson

954-776-1999, ext. 255

lrobinson@piersongrant.com

Prime Location Attracts National Title Insurance Company to Camelback Road in Phoenix, AZ

WFG National Title Insurance Co. Offices, 2777 East Camelback Road, Phoenix, AZ

Chris Latvaaho

PHOENIX, AZ. – A prime location in the heart of the Camelback Corridor has attracted WFG National Title Insurance Company (WFG) to a new lease at 2777 E. Camelback Rd.

Leased by the Phoenix office of JLL, the new location provides WFG with direct exposure to Camelback Road in a contemporary, highly amenitized office environment.

JLL Vice President Chris Latvaaho, Managing Director John Bonnell and Senior Vice President Brett Abramson represented property owner DRA Advisors/Fountainhead Equity Partners.

Michael Stone of The Stone Group represented WFG, a national provider of premium title insurance and settlement services to the real estate and mortgage industry. As of Q1 2016, WFG was the fastest growing national title underwriter and the nation’s sixth largest provider of title insurance.

“2777 is perfect for forward-thinking companies like WFG who are looking for unique, modern, flexible space that differentiates itself from the submarket’s mega office complexes and towers,” said Latvaaho. “With this property, tenants get a one-of-a-kind infill location without compromising environment, infrastructure or amenities.”

John Bonnell

Totaling 104,618 square feet, the 2777 building sits at the southwest corner of 28th Street and Camelback Road, in the heart of the prestigious Camelback Corridor.

The building offers 36,000-square-foot floorplates, with contemporary features including 13-foot ceilings, raw concrete open space, a shared tenant conference room and surface and two-level underground parking.

“With their directive to ‘communicate, collaborate, coexist,’ WFG is a major national brand focused on changing the way traditional mortgage and real estate transactions are done,” said Fountainhead Equity Partners President Art Cunningham.

“This space will support them in those goals, with flexible floorplates for more efficient operations, direct Camelback Road exposure for their growing brand and top-notch amenities to help them attract and retain the best talent.”

In addition to offering 16 restaurants within walking distance, 2777 is only blocks from Biltmore Fashion park, less than 1.5 miles from State Route 51 and a quick drive to Sky Harbor International Airport.

Additional building amenities include views of Camelback Mountain and Piestewa Peak, on-site owner/management and security, and unmatched signage opportunities.

Brett Abramson

WFG will relocate from 1420 E. Missouri Ave. in Phoenix into 6,058 square feet on the ground floor at the 2777 building in November. It joins current building tenants UMB Bank, The Lavidge Company and Hill International and Avison Young.

JLL continues to market space at 2777 E. Camelback. Available suites range from 1,997 square feet to 28,728 square feet.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

RAF Pacifica Group Announces New Ground-Up Development of Four-Building, 212,000-SF Creative Industrial Campus in California

Rendering of Planned Industrial Campus Building

SAN DIEGO, CA  (Sept. 28, 2016) – On the heels of its recent development activity in the Carlsbad submarket of San Diego, RAF Pacifica Group has acquired 15.65 acres of land in San Marcos, on which the firm plans to build a four-building, creative industrial campus totaling 212,000 square feet, according to Adam Robinson, Principal of RAF Pacifica Group. This is the firm’s first ground-up spec industrial development in San Marcos.

Adam Robinson

The development site is located at the intersection of Bostick Boulevard and Norman Strasse Road in San Marcos, California. Located in the heart of the 78-Corridor, pro•duc•tion offers access to the I-5, I-15, and Highway 78 for transportation.

Mike Erwin and Tucker Hohenstein of Colliers International represented RAF Pacifica Group as the buyer in the transaction. Adam Molnar and Greg Lewis of CBRE represented the seller.

pro•duc•tion is slated to break ground in the first quarter of 2017.

  

“Very little industrial product has been built during the last cycle in San Diego’s North County market,” says Robinson. 

“As an active developer with over one million square feet of new ground-up product underway in San Diego, we are the first to bring a truly innovative Creative Industrial™ product to San Marcos, with features such as floor-to-ceiling glass entryways, indoor/outdoor amenity areas, and modern finishes. In doing so, we are reimagining the industrial workplace and delivering a work/play environment like no other in the market.”

The firm’s planned development, “pro•duc•tion,” will be a sprawling creative industrial campus, with spaces ranging from 34,000 to 90,000 square feet, designed with the flexibility to expand or shrink as needed to support tenants throughout their business cycles.

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

Katie Kea / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

kkea@browermillercole.com

Berger Commercial Realty Named Exclusive Sales Agent for $19 Million Portfolio of Three Business Parks Totaling 207,752 SF in Fort Lauderdale, FL

Joseph Byrnes

FORT LAUDERDALE, FL  (Sept. 27, 2016) - Berger Commercial Realty was appointed by Rising Tide Development, LLC as the exclusive sales agent for a portfolio consisting of three business parks in Fort Lauderdale. Listed at $19.275 million, the properties span 16.24 acres and total 207,752 square-feet of office, flex and industrial space.

Senior Vice Presidents Joseph Byrnes and Keith Graves and Senior Sales Associate Jonathan Thiel will serve as the brokers for the portfolio, which includes:

Powerline Business Center, an 82,339-square-foot grade-level warehouse, showroom and office park located at 5601 N.W. Powerline Road, which is 97 percent occupied and offers high visibility on Powerline Road;

Cypress Creek Executive Court, a 70,822-square-foot business park located at 2700 W. Cypress Creek Road that is 88 percent occupied and offers ample parking and convenient access to all of Broward County and South Florida;

and Cypress Creek Business Park, a 54,600-square-foot, two-building, single-story office and flex park located at 6555 N.W. Powerline Road, which is 82 percent occupied and features plentiful parking, round-the-clock access and flexible floorplans.

Keith Graves

"These are multi-tenant investment-grade properties with an in-place cash flow," Graves said. "This is a great opportunity for a potential buyer to acquire premier commercial property as either an entry point into the local market or as an addition to an existing commercial real estate portfolio."

Berger Commercial Realty was appointed as the exclusive leasing agent for the properties in 2014 and has increased the total average occupancy from 60 percent to 85 percent.

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

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

 

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

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

954-776-1999

Marcus & Millichap Arranges $4.35 Million Sale of 42-Unit Tampa Commons Apartments in Tampa, FL

Evan Kristol

TAMPA, 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 Tampa Commons, a 42-unit apartment property located in Tampa, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $4,352,500 equating to $103,630 per unit.

“The property offers a competitive advantage by providing newly-constructed three-story townhomes with the largest floorplans in the submarket.  

Apartments features hardwood flooring, fully equipped kitchens with attractive stainless steel appliances, private balconies, garden-style tubs, washer/dryers in each unit, and private two-car garages,” says Evan Kristol, senior vice president investments, in Marcus & Millichap’s Fort Lauderdale office

Kristol, along with Brandon J. Rex, vice president investments, in Marcus & Millichap’s Fort Lauderdale office, along with Nicholas Meoli and Michael Donaldson, vice presidents investments, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Boca Raton, FL and the buyer, a partnership from Montreal, Canada.

Brandon J. Rex

Built in 2008 and 2009, Tampa Commons is situated on an approximately 1.83 acre site, and is comprised of six, three-story masonry-constructed buildings.  

The unit mix is comprised of 20 three-bedroom/three-and-one-half bathroom townhomes, 12 three-bedroom/three-and-one half bathroom townhomes, and 10 four bedroom/three-and-one-half-bathroom townhomes.

Tampa Commons is situated on North 58th Street, between East Fletcher Avenue and East Fowler Avenue. East Fletcher and East Fowler Avenues are both major east/west area thoroughfares, providing access within minutes to Interstate-275 to the west, and Interstate-75 to the east.  

The property is located at 5718 Las Ventanas Drive in Tampa, FL.

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

  Ryan Nee

Vice President / Regional Manager,

 Fort Lauderdale, FL

(954) 245-3400

NAI Realvest Names Rachel Saunders Associate

Rachel Saunders

ORLANDO, Fla. -- NAI Realvest, one of central Florida’s largest commercial real estate services companies, recently named Rachel Saunders, MBA an Associate.

Robin Webb, managing director at NAI Realvest, said Saunders has more than 12 years of experience in business and real estate. 

Saunders is a successful real estate entrepreneur and has been a partner and owner in real estate investment companies since 2004. 

She started and owns Southeast Ingenuity Investments, Inc. where she has been active in growing a portfolio of rental properties. 

Additionally, she has developed land for a Nashville suburb, and also sold hundreds of acres to Nestle Waters North America for aquifer use with water bottling companies.

Most recently, she worked with KW Commercial as a Commercial Agent and Realtor.  Early in her career, she worked with the Office of the Governor in Tallahassee as a Community Liaison, collaborating with businesses, non-profits and government agencies in building a state-wide coalition of child mentors.

Robin Webb

Her community and civic involvement includes Former Chair of Greater Orlando American Heart Association’s volunteer base, known as the “Passion” committee, and an appointment to the City of Winter Garden’s Canvassing Board.

Saunders holds an MBA from Florida International University.  She will be working with the NAI Realvest team of Chairman George Livingston, specializing in site selection, development, investment services, tenant representation and consulting.

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

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

 

NAI Realvest Completes Sale of 6,822 Square Foot Orlando, FL Office/Retail Building for $400,000

 

Paul Partyka

ORLANDO, FL  --- NAI Realvest recently completed a $400,000 sale of an office / retail building at 3801Dahlia Drive off SR 436 in Orlando. 

Paul P. Partyka, Partner at NAI Realvest and Associate Juan Jimenez negotiated the sale representing the local Seller, Princess Tracy Co., Ubc.   

Goodrich Partners, LLC, a local investment firm, is the buyer of the 6,822 square foot building constructed in 1955 on 0.41 acres.   The property was purchased as is as part of a 1031 exchange. 

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

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

  

HFF closes $147 million sale of 504-unit multi-housing community in Nanuet, NY

Jose Cruz

FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $147 million sale of eaves Nanuet, a 504-unit multi-housing community in Nanuet, New York.

HFF marketed the property exclusively on behalf of the seller, AvalonBay Communities, Inc.  A joint venture between Harbor Group International, LLC and Azure Partners LLC purchased the asset free and clear of existing debt. 

 This transaction represents one of the largest apartment sales to have occurred in Rockland County, New York.

eaves Nanuet is situated on 54 acres at 100 Avalon Gardens Drive in the Rockland County community of Nanuet.  

The transit-oriented property is located near Interstate 287’s intersection with the Garden State Parkway and Palisades Interstate Parkway and Nanuet’s Metro North train station and park and ride lot, providing access to the George Washington Bridge and Midtown and Lower Manhattan.

 The 97-percent-leased community has 64 buildings totaling 504 homes, with a diverse mix of one-, two- and three-bedroom apartments averaging 1,208 square feet in size.  Apartments feature loft spaces, gas fireplaces, closet and attic storage, in-unit washers and dryers, direct-access personal garages and patios/balconies. 

Kevin O'Hearn

Community amenities include an outdoor swimming pool with sun deck, two tennis courts, grilling areas, two playgrounds, clubhouse, fitness center, yoga room, indoor basketball and racquetball courts and a resident lounge with fireplace and business center.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Michael Oliver and Stephen Simonelli and associate director Robert Borny.

“Demand for well-located, value-add multi-housing continues to be very strong – especially in high-income submarkets like Nanuet,” said Cruz.  “This property is one of the largest in the county and provides investors with significant upside.”

  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

www.harborgroupint.com.

www.avalonbay.com

Arbor Appoints Brad Casey Senior Vice President, Chief Underwriter

Brad Casey

UNIONDALE, NY (Sept. 27, 2016) - Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, has announced the appointment of Brad Casey as Senior Vice President, Chief Underwriter in Arbor’s Dallas, TX, office. Mr. Casey will report to John Caulfield, Arbor’s Chief Operating Officer.

As Senior Vice President, Chief Underwriter, Mr. Casey will be overseeing the daily underwriting of Arbor’s growing agency platform, as well as developing, sustaining and enforcing the firm’s credit policy with respect to the agencies’ guidelines.

“Brad comes to Arbor with significant underwriting experience and a long track record of success," said John Caulfield, Chief Operating Officer. "We are confident Brad possesses the leadership and knowledge to support Arbor's continued growth and expansion of our agency market share through high quality loan production."

John Caulfield

Prior to Arbor, Mr. Casey was the Vice President and Deputy Chief Underwriter for PNC Real Estate, a division of PNC Bank. 

He has also formerly worked for ARCS Commercial Mortgage Company, which held the number one Fannie Mae DUS lender title for several years, before it was acquired by PNC.

Earlier in his career, Mr. Casey worked for Washington Mutual and Orix Capital Markets.

Mr. Casey graduated with his Master of Science degree in Land Development from Texas A&M University and his Bachelor of Business Administration degree in Finance and Economics, from Stephen F. Austin State University.

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

Christopher Ostrowski

costrowski@arbor.com

$7.2 million refinancing for 118-unit multi-housing community in Aurora, CO secured by HFF

Shadow Tree Apartments, 1800 Billings Street, Aurora, CO

Josh Simon

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $7.2 million refinancing for Shadow Tree Apartments, a 118-unit multi-housing community in the Denver suburb of Aurora, Colorado.

HFF worked on behalf of Vukota Capital Management to secure the 10-year, 3.91 percent fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

Shadow Tree Apartments is located at 1800 Billings Street in the Aurora Village submarket.  The property is just off of Interstate 225 providing access to Interstates 25 and 70 and the Denver metropolitan area.

 Additionally, Shadow Tree Apartments is strategically located within two miles of Anschutz Medical Center, home to the University of Colorado Hospital and Fitzsimmons Army Hospital.  The two, three-story residential buildings are 94 percent occupied. 

The HFF debt placement team representing the borrower was led by managing director Josh Simon and associate director Brock Yaffe.

 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

www.vukotacapital.com.

Rendering for Planned Condominium Project
in TriBeCa Neighborhood, New York City

NEW YORK, NY -- Winter & Company has arranged a $38,373,183 construction loan (more than $5 million loan-per-residential-unit) for the development of an ultra-high-end luxury boutique condominium project located in TriBeCa.

The three-year construction loan is priced at LIBOR + 350 basis points with a floor of 3.7% and was structured with limited recourse.

Gregg Winter

Much of the existing building will be demolished and the resulting structure will be a nine-story building with seven large, luxurious units with copious terraces and outdoor space, in-building parking and units ranging in size from 3,393 to 7,098 square feet.

Winter & Company had also arranged the sale of this property from a previous developer to the current developer.

Winter & Company is a Manhattan-based, commercial mortgage advisory firm that specializes in arranging development and construction financing (as well as joint venture equity for new developments), multifamily and mixed-use property financing and arranging cooperative underlying mortgages since 1989.

Its affiliate, W Financial Fund, LP is a direct private bridge lender providing short-term, special situation financing primarily for NYC multifamily and mixed-use properties since 2003.

For a complete copy of the company’s news release and for more information on construction financing programs and arranging joint venture equity, please contact:

Gregg Winter - President

Winter & Company

Creative Minds | Unparalleled Service ®

149 Madison Avenue, Seventh floor

New York, NY 10016

Phone: 212 532-9170

Email: gregg@winterandcompany.com

http://www.winterandcompany.com

Feldman Equities Hires Leasing Veteran Mike DiBlasi and Financial Analyst Mahmoud Mihanyar

Mike DiBlasi

TAMPA, FL -- With an eye towards an ever expanding real estate portfolio including development and acquisition Feldman Equities continues to add to its Tampa Bay staff. 

Just weeks after bringing aboard Mack Feldman and Jonathan Schneider, Feldman has hired real estate leasing powerhouse Mike DiBlasi and financial analyst Mahmoud Mihanyar.

As Executive Vice President of Leasing and Marketing, DiBlasi will head all leasing activity for the 1.3 million square foot office building portfolio owned and under development by Feldman Equities and Tower Realty Partners in Tampa Bay.  His role will also include leasing oversight of acquisitions and third party leasing assignments.

Feldman Equities CEO Larry Feldman, who attributes the company’s success to smart risk taking, found a like-minded hire in DiBlasi who advises those getting into the business to take risks when you are young.

Mahmoud Mihanyar

“I started my career as a CPA and after five years, left that salary and security for the opportunity to enter the commissionable world of commercial real estate brokerage, “ said DiBlasi. “I took a risk and it paid off.  After 10 successful years in the business I’m embarking on yet another incredible opportunity.”

DiBlasi has spent the past seven years as Senior Leasing Director for Liberty Property Trust’s 4.2 million square foot Tampa portfolio of office, flex and industrial properties. Prior to joining Liberty he spent three years as a broker with Cushman & Wakefield.

Feldman also brings on board Financial Analyst Mahmoud Mihanyar a recent graduate of Hough Graduate School of Business at the University of Florida where he earned a Master of Science in Real Estate.

Prior to entering the program he managed a small construction company in Daytona Beach, FL. Mihanyar also attended the University of Florida’s College of Design and Construction earning a Bachelor of Design in Architecture.

“With his design and construction background Mahmoud brings a specific understanding to real estate finance,” said Feldman. “Lease transactions, development, acquisition…we plan on keeping Mahmoud busy.”  

Larry Feldman

Feldman Equities, LLC is the modern business entity that encompasses a century of success in commercial real estate development and ownership throughout the United States. 

Feldman Equities and its joint venture partners own or manage over four million square feet of Florida office space. Over the past 30 years, Feldman Equities has developed or acquired over eleven million square feet of office and retail properties with an aggregate value in excess of $3 billion.

Feldman Equities is a standout, recognized for its trademark, hands-on approach to turning around distressed assets. Feldman Equities is marshaled by its president and CEO, Larry Feldman.

Today, Feldman Equities is embarked upon an aggressive program to acquire underperforming office buildings in the greater Tampa Bay market. Typical candidates for acquisition are office buildings of over 100,000 square feet.

In addition to acquisitions, Feldman Equities is building from the ground up.  The company and its affiliates recently acquired the last piece of developable waterfront in the core of downtown Tampa.  Feldman and his partners will develop Riverwalk Tower, a 52-story office and luxury residential building along Tampa’s Riverwalk.  The tower will become the tallest building on the West Coast of Florida and is expected to dominate the Tampa skyline.

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

tyoungman@assetmarketingonline.com

www.feldmanequities.com/about

  

Kristen Larkin Joins FitzGerald Associates Architects As Associate Principal

Kristen Larkin

 CHICAGO, IL — Chicago-based FitzGerald Associates Architects, a leading national residential and commercial design firm, announced that industry veteran Kristen Larkin, ASID, has joined the firm as an associate principal.

For more than 15 years Larkin has designed a range of custom public spaces including multifamily developments, commercial offices, hotels, dormitories, K-12 and higher education facilities.

 In addition to her work designing interiors for many high-profile multifamily developers across Chicagoland, Larkin’s portfolio includes commercial and institutional commissions such as British International School of Chicago, The Salvation Army Freedom Center, DePaul School of Music, and corporate offices for IBM and @properties.

She has been responsible for the implementation of creative interior design solutions from the initial concept and planning phase through construction and furniture, fixture and equipment installation.

Mike De Rouin

“Kristen brings with her a high level of design talent and expertise that will immediately contribute to the FitzGerald team and complement the work we already do,” said Mike DeRouin, president of FitzGerald Associates Architects.

“Her experience within the firm’s core disciplines – as well as sectors in which we seek to expand – will be critical as we continue raising the bar on the interior design services we offer our clients.”

Previously, Larkin was the principal of interior design at Chicago-based Antunovich Associates. Prior to that, she worked under the tutelage of mentor Bonnie C. Smith for more than 10 years, eventually forming the partnership Smith & Larkin Interior Design in 2008.

“I am thrilled to join a firm with such a rich history and a progressive approach to building,” said Larkin. “By joining the FitzGerald team, I look forward to supporting the firm’s broad range of clients and services as we strive to make our projects not only beautiful but also functional, both inside and out.”

Larkin holds a BFA in interior design from Harrington College of Design.

high-rise residential buildings; commercial and industrial facilities; banks; restaurants;

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

Cara Mooses, cmooses@taylorjohnson.com, (312) 267-4523

Stepp Commercial Completes $4.21 Million Apartment Property Sale in Long Beach, CA

Robert Stepp

                                                                                  
Long Beach, CA, Sept. 26, 2016 – Stepp 
Commercial, a leading multifamily brokerage firm in the Long Beach market, has completed the $4.21 million sale of a 22-unit apartment property located at 2333 to 2401 E. 5th Street in the Retro Row submarket of Long Beach.  

Robert Stepp, principal with Stepp Commercial, represented the seller, a private investor from Culver City, as well as the buyer, a private investor from Santa Monica. The closing cap rate was 3.8 percent and the price per unit was $191,000.  

Built in 1963, the property features 18 one bedroom units and four two-bedroom units with open floor plans. It offers a large central courtyard, on-site laundry, and 12 private garages. It is located within walking distance to the beach, Bixby Park, and the numerous shops and restaurants in the Retro Row area along 4th Street.

“The buyer is planning on investing $20,000 per unit for interior upgrades and enhancements and will also renovate the exterior areas. Once complete, the buyer will be able to secure market rental rates which are approximately 15 percent higher than what the property is currently seeing.”

Retro Row is a vibrant, bike-friendly area of Long Beach that stretches from between Cherry and Junipero. This district is home to more than 40 independent merchants as well as a restored 1920s Art Theatre which hosts a mix of first-run and art films, live concerts and other events.

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

Darcie Giacchetto

949.278.6224

www.SteppCommercial.com