HFF closes sale of and arranges financing for 320-unit multi-housing community in Houston, TX

Park Lakes Apartment Homes, Houston, TX

Cortney Cole

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured acquisition financing for Park Lakes Apartment Homes, a 320-unit, garden-style multi-housing community near the Texas Medical Center in Houston, Texas.

HFF marketed the property exclusively on behalf of the seller, American Realty Advisors (American).  Advenir, Inc. (Advenir) purchased the asset for an undisclosed amount free and clear of existing debt. 

Additionally, HFF worked on Advenir’s behalf to secure the ten-year, floating-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

The loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Advenir will rebrand the property as Advenir @ The Med Center and will implement a capital improvement program to achieve greater rental premiums.

 Park Lakes Apartment Homes has 21, three-story residential buildings offering studio, one-, two- and three-bedroom floor plans averaging 798 square feet each.  The 95-percent-leased property is located at 9955 Buffalo Speedway just off Loop 610. 

Approximately three miles south of the Texas Medical Center, the property also benefits from its proximity to NRG Park, the planned 300-acre University of Texas Houston campus and major employment centers in downtown, Greenway Plaza and the Galleria area.  Community amenities include a swimming pool, grilling area, fitness center, clubhouse and private garages.

The HFF investment sales team representing American was led by senior managing directors Todd Marix and Todd Stewart, managing director Chris Curry and associate director JC Clemens.

Todd Marix

HFF’s debt placement team representing Advenir was led by managing directors Josh Simon and Cortney Cole and senior managing director Eric Tupler.

“Having out-of-state buyers like Advenir invest in Houston supports the thought that confidence in the Houston marketplace is not limited to locals,” said Marix.  “We have seen capital from across the U.S. and abroad continue to look at Houston.  An asset like Park Lakes, with its strategic position next to the Texas Medical Center, captures their attention because it has a demand generator not dependent on the price of oil.”

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.americanreal.com.

HFF arranges $32.4 million acquisition financing for Birmingham, AL, Class A office building

Ed Coco

ATLANTA, GA  -– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $32.4 million in financing for Brookwood Office Center, a 169,459-sqare-foot, nine-story office building in Birmingham, Alabama.

HFF worked on behalf of the borrower, an indirect subsidiary of Preferred Apartment Communities, Inc., to secure the 15-year acquisition loan through Sentinel Asset Management.  The 3.52 percent, fixed-rate financing will also be serviced by HFF.

   

Completed in 2007, the LEED Silver-certified Brookwood Office Center is fully leased to a mix of national and international corporations, including Kinder Morgan, Merrill Lynch and PriceWaterHouseCoopers.  Jos. A. Bank and O’Henry’s Coffee occupy the ground-floor retail space and tenants have access to a four-story, 896-space parking structure.

 The property is situated on 5.08 acres at 569 Brookwood Village within the Brookwood Village upscale mixed-use shopping development.  

This location is immediately off of Highway 280 in the Mountain Brook/Midtown submarket of Birmingham, an affluent area boasting an average household income within three miles of more than $97,000, an average home value of more than $371,000 and a population base in which more than 62 percent of residents hold a bachelor’s degree or higher.

 The Birmingham market is the largest office market between Georgia and Texas and comprises over 58 million square feet of office space.

The HFF debt placement team representing the borrower was led by senior managing director Ed Coco and senior real estate analyst Matt Casey.

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

HFF closes sale of Hilton San Antonio Hill Country Hotel & Spa in San Antonio, TX

Hilton San Antonio Hill Country Hotel & Spa, San Antonio, TX

 

Dan Peek

DALLAS, TX  -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the Hilton San Antonio Hill Country Hotel & Spa, a 226-room, full-service hotel and spa in San Antonio, Texas.

HFF marketed the property on behalf of the seller, a global real estate investment manager.  Goldman Sachs Group, Inc. purchased the asset.  Pyramid Hotel Group will manage the hotel.

Hilton San Antonio Hill Country Hotel & Spa is situated on 6.74 acres at 9800 Westover Hills Boulevard in the heart of San Antonio’s northwest tourism corridor.  

Positioned along State Highway 151 west of Loop 410, the hotel is adjacent to SeaWorld San Antonio and near the campuses of major corporations, including Nationwide, Aetna and Frost Bank.

 Hilton San Antonio Hill Country Hotel & Spa opened in 2002 and features a full-service spa and salon, three heated outdoor pools, a fitness center, outdoor courtyard with fire pits, business center and 14,250 square feet of event space across 13 meeting rooms. 

John Bourret

Additionally, the five-story hotel’s dining and beverage options include the AB Bar and Restaurant full service restaurant, which serves appetizers and dinner; the SunSpot, a full-service restaurant serving breakfast and lunch; and an outdoor pool bar and the Hilton Hhonors Lounge on the fifth floor.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Dan Peek, managing director John Bourret and associate director Austin Brooks.

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

krmurphy@hfflp.com

  

Berger Commercial Realty Awarded Leasing Assignment for New Bergeron Distribution Center in Pembroke Pines, FL

  

Bergeron Distribution Center, Pembroke Pines, FL

Keith Graves

FORT LAUDERDALE, FL -- Berger Commercial Realty was awarded the leasing assignment for Bergeron Family of Companies' new Bergeron Distribution Center in Pembroke Pines. 

Senior Vice President Keith Graves and Broker Associate Greg Milopoulos will serve as the exclusive leasing agents for the 170,373-square-foot, class-A distribution warehouse, which is scheduled for completion by the end of the second quarter of 2017.

Bergeron broke ground on the facility in mid-October.

"There is only so much industrial space available in Broward County," Milopoulos said. "The Bergerons understand the need to jump ahead of the competition by building this facility on spec. 

"When completed, the Bergeron Distribution Center will offer unparalleled commercial real estate opportunities as it can accommodate a spectrum of tenant needs including size, function, accessibility and more."

 

The new development is situated on 9.1 acres at the southwest corner of Stirling Road and S.W. 196th Avenue within the existing Bergeron Park of Commerce and Industry, a 300-acre, $137 million industrial park and development site.

The Bergeron Park of Commerce and Industry offers convenient access to I-75, US-27, I-595 and Florida's Turnpike, providing connectivity to South Florida's major cities, airports, railways and seaports as well as Florida's west coast. The Park will total approximately 2.2 million square-feet when fully built out.

Units at the Bergeron Distribution Center will start at 21,950 square-feet. The facility will feature 32-foot clear-height ceilings, clearstory windows, ample parking, a truck court, dock and ramp loading, and onsite trailer storage. The facility will consist of up to 15 percent office space.

Greg Milopoulos

Built-to-suit options, ranging in size from two to 60 acres within the Bergeron Park of Commerce and Industry, are also available.

"The Park's zoning of Light Industrial (M-1), General Industrial (M-3), and Limited Heavy Industrial (M-4) caters to a broad range of businesses," Graves said. "The Park's slogan, 'For All Industries,' points directly to the diversity of zoning that lies at the heart of the Park's appeal to businesses of all kinds."

The Bergeron Park of Commerce and Industry was originally conceived by Bergeron Family of Companies CEO 'Alligator' Ron Bergeron, Sr. more than 30 years ago. 

The Park has been maintained and expanded upon by Bergeron Family of Companies Executive Vice President Lonnie Bergeron and Bergeron Properties and Investment Corporation Vice President Frank Saia.

"Bergeron has a strong track record of development and this site definitely taps into the strengths of its home-grown roots," Graves said. "As one of South Florida's premier property owners and developers, they understand the importance of working with a brokerage firm that truly understands South Florida's commercial real estate market, and we feel honored that they selected us to represent them on this important project."

 

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

Media Contact: 954-776-1999

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

Jane Grant, ext. 224, jgrant@piersongrant.com

www.Bergeroninc.com.

 

www.Bergeroninc.com.

  

Minto Communities Breaks Ground on Artesia’s Final Phase in Sunrise, FL

Tonia Abrahamsson

SUNRISE, FL – Minto Communities has broken ground on the second and final phase of Artesia, a 76-acre, resort-style community ideally located at Flamingo Road and Panther Parkway in Sunrise.

The award-winning builder will deliver 123 townhomes in this phase, bringing the total number of residences to 837. Construction on the first two buildings is expected to begin in early November.

Steve Svopa

“We have seen incredible demand and sales have been very strong since we released our final phase for sale two months ago,” said Steve Svopa, vice president of Minto Communities.

“In addition to our quality product, buyers love our location, amenities and value price points. Most of all, what our buyers are looking for is the lifestyle we have to offer at Artesia – it’s second to none.”

Svopa was joined by Tonia Abrahamsson, senior director of sales, Jared Stern, director of community development, and other Minto team members for a groundbreaking ceremony on Tuesday, October 25.

Minto offers three distinct collections at Artesia that boast a contemporary blend of urban, suburban and resort lifestyles: Courtyard Homes, Terrace Homes and Sky Villas. Prices range from the mid $300,000s to the $500,000s. For a limited time, buyers can save up to $10,000 on select available homes.   

The Courtyard Homes include two to three bedrooms, two to three baths and all have a two-car garage. The residences range from 1,466 square feet under air to 1,725 square feet under air and are priced from the mid $300,000s.

Artesia Homes, Sunrise, FL

For the Terrace Homes collection, floorplans include three to four bedrooms and two-and-a-half to three-and-a-half baths. 

The residences range from 1,669 square feet under air to 2,113 square feet under air and are priced from the high $300,000s. All include a two-car garage and private yard.

The Sky Villas have four to five bedrooms and three-and-a-half to four-and-a-half baths. One of the most unique features is a penthouse terrace, which provides owners beautiful panoramic views of the community’s lakes and resort pools. 

The residences range from 2,797 square feet under air to 3,089 square feet under air and are priced from the $500,000s.  All include a sky loft, two-car garage and private yard.  

The Artesia sales center is located at 12550 NW 29th Manor, Sunrise, Florida 33323. Sales center hours are Monday through Saturday, 10 a.m. to 6 p.m., and Sunday, 12 p.m. to 6 p.m. For complete information on Artesia, call 844-891-0651 or visit mintofla.com.

  

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

Ashley Fierman/Kelsey Dean

BoardroomPR

afierman@boardroompr.com

kdean@boardroompr.com

954-370-8999

www.mintofla.com.

Stirling Capital Investments Delivers New 447,740-Square-Foot Industrial Facility One Month Ahead of Schedule, Bringing 125 New Jobs to the High Desert in California

  

 

Brian D. Parno

VICTORVILLE, CA – Stirling Capital Investments has announced the completion of  Building 13B, a 447,740-square-foot industrial facility located at Southern California Logistics Centre (SCLC), a 2,500-acre commercial and industrial complex entitled for 60 million square feet of development in Victorville.

The new facility is located on 19.37 acres and features a sustainable, “green” building design, 53 dock high doors and a 32’ clear height.

Building 13B, located at the southeast corner of Phantom West and George Blvd., was fully pre-leased to Arden Companies, a leading US manufacturer and marketer of outdoor cushions, furniture, and décor, for 211,000 square feet of space.

The remainder of the building was leased to Newell Brands, a leading consumer goods company that has been a tenant at SCLC since 2007. With this expansion, Newell Brands adds 233,470 sf of occupancy in addition to their existing occupancy of a 584,412 sf building at SCLC.

Robert A. Lovingood

“San Bernardino County has had a strong relationship with Stirling, and this is further evidence that job growth and great opportunities are happening here in the High Desert,” said County Supervisor Robert A. Lovingood. “This strengthens the local manufacturing job base and will help us attract more well-paying jobs to the Victor Valley.”

Stirling delivered the building 30 days ahead of schedule allowing for the tenants to take early occupancy and initiate business, adding 125 new jobs to the region.

“We’ve seen a growing interest in manufacturing and industrial space in the High Desert. This region has a strong, skilled workforce to support more manufacturing relocation and expansion. We are confident that SCLC will remain a location of choice as these industries seek out state-of-the-art facilities,” said Brian D. Parno, Chief Operating Officer for Stirling Development.

“Not only has Stirling created an important industrial hub for Victorville but they have also master planned an ideal environment for business while allowing new tenants to recognize an opportunity. We are thrilled to collaborate with Stirling and promote the growth of our region,” shared Ryan McEachron, Victorville City Council Member.

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

Darcie Giacchetto

Spaulding Thompson Associates

949.278.6224

29th Street Capital Acquires Clifton Ridge Apartments in Louisville, KY

  

Clifton Ridge Apartments, Louisville, KY

Louisville, KY -- 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Clifton Ridge Apartments, its first property in Louisville, Kentucky. The multifamily community, located two miles east of downtown Louisville in the fast-growing Clifton Heights neighborhood, is comprised entirely of two-bedroom, one-bathroom units.

Adam Miller

“We are thrilled to add Clifton Ridge Apartments to our investment portfolio,” said Adam Miller, 29th Street Capital’s Vice President of Acquisitions for the Southeast. “Expanding our footprint throughout the Southeast market is a key focus given the attractive market fundamentals in the region. 

"We look forward to executing our business plan at Clifton Ridge and in future acquisitions in Kentucky, Tennessee and the Carolinas.”

29SC has allocated approximately $800,000 for the renovation of the interiors and the remodeling of the exterior. Interior renovations will include new kitchen appliances, cabinetry and countertops, bathroom updates, new flooring and lighting upgrades. Exteriors will get fresh paint, roof and concrete repairs, courtyard enhancements and landscape upgrades.

  

The Clifton Heights neighborhood appeals to young, well-employed families and singles, who enjoy its walkability, high-quality schools and easy access to downtown Louisville.  

The submarket has experienced strong market fundamentals in recent years, driven by new development, an improved retail base, and value-add improvements to other multifamily properties on Louisville’s East Side.

Louisville is home to more than 1.3 million people and headquarters to three Fortune 500 companies. As one of the largest inland ports in the nation, Louisville’s transportation, shipping and logistics industries benefit from its central location in the United States.

Stan Beraznik

The acquisition closed October 28, 2016. The sale price of the 80-unit community was not disclosed.

For investment inquiries, contact:                                                                                                         

Stan Beraznik, Founder and Managing Principal at 29th Street Capital

415.643.6875 | sberaznik@29thstreetcapital.com

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

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton Terri Thornton

Partner, Thornton Communications

Phone: 404-932-4347

Email: Terri@TerriThornton.com

Website: www.TerriThornton.com

Sale of New Orleans, LA Planet Fitness-Anchored Shopping Center Arranged by Marcus & Millichap

Lori Schneider

NEW ORLEANS, LA, Oct. 28, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Crowder Retail Center, a 31,913-square foot Planet Fitness-anchored shopping center located in New Orleans, LA, according to Ryan Nee, vice president, regional manager of the firm’s Fort Lauderdale office.

David Gant, senior associate, and Lori Schneider, senior vice president investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. 

“Our marketing efforts successfully sourced the appropriate buyer, a local, private investor,” says Gant.  Chris Shaheen, is the Louisiana broker of record.

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

Ryan Nee

Vice President / Regional Manager

Fort Lauderdale, FL

(954) 245-3400

Lee & Associates Completes Sale of Multi-Tenant Retail Shopping Center in Orange County, CA for $4.7 Million, 4.26% Cap Rate

 .

 

Jon Selznick

SANTA ANA, CA -- Lee & Associates, a national commercial real estate brokerage firm, announced today that the company represented the buyer and seller in the sale of Grovemont Square, a 29,030-square-foot multi-tenant retail shopping center at 2428 North Grand Avenue in Santa Ana, Calif. The sale price was $4,730,000, representing a cap rate of 4.26 percent.

Lee & Associates’ Senior Vice President and Principal Jon Selznick and Associate Brant Dorman represented the seller, a private investor from Encino, Calif. 

The buyer, a private investor from Commerce, Calif., was also represented by Jon Selznick with Lee & Associates. Selznick and Dorman are based out of Lee & Associates Lake Forest, Calif. office.

Built in 1973, the multi-tenant retail building is situated on a 2.5-acre parcel just south of State Route 22, and less than two miles from both Chapman University and MainPlace Mall in Orange County. The retail center was 85% occupied at the time of the sale.

"This was a great result for both parties,” said Selznick. “The seller achieved an exit cap rate indicative of one of the strongest commercial real estate markets in recent history, and the buyer purchased an asset in a premium infill location on a major thoroughfare with potential for future upside.”

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

Anne Monaghan

MONAGHAN COMMUNICATIONS, INC.

anne@MonaghanPR.com

830.997.0963

www.lee-associates.com

Draper and Kramer’s Anna Javellana Named Manager of the Year at Minnesota Multi Housing Association’s MADACS Awards

Anna Javellana

 CHICAGO, IL (Oct. 27, 2016) – Draper and Kramer, Incorporated, a full-service national real estate firm, is proud to announce Anna Javellana, property manager at Southfork Townhomes in Lakeville, Minn., was named manager of the year by the Minnesota Multi Housing Association (MHA) at its 2016 Multi Housing Achievement in Design, Advertising and Community Support (MADACS) awards ceremony, which took place last month. 

Held annually, the MADACS awards recognize owners and associates who have made significant contributions to multi-housing marketing and management in Minnesota. The MADACS awards gala, the most prestigious event hosted by the MHA, celebrates positive, innovative, community- and industry-enhancing accomplishments. 

Deanne Logan

“Anna’s work at Southfork absolutely exemplifies the excellent level of customer service and detail-oriented approach Draper and Kramer’s residential management division is known for,” said Deanne Logan, regional property manager for Chicago-based Draper and Kramer. 

“While no one appreciates her leadership and dedication more than we do, we’re thrilled to see her hard work and accomplishments recognized by the Minnesota MHA and others in the industry.”

In her role as property manager of Southfork Townhomes, Javellana oversees 272 rental townhome units in a community that features a natural, wooded setting and extensive on-site amenities, including an oversized outdoor pool and a recently renovated clubhouse where the management team frequently hosts exclusive resident events.

Under her management, the community has experienced increases in average occupancy, lease renewal rates, SatisFacts resident survey scores and Apartment Ratings scores.

Javellana’s attention to detail and clear communication with residents was key in ensuring a number of major projects in the past year went smoothly, including complete landscape reconstruction, resurfacing of parking lots and driveways, extensive concrete replacement, and new roofs and insulation for all buildings.

Logan noted Javellana is also known for organizing the community’s annual holiday party, which features live reindeer and sleigh rides. “It’s one of the most popular events for our residents and they’re still talking about last year’s party almost a year later,” said Logan.

Southfork Townhomes

“It’s incredibly rewarding to be part of our residents’ lives and help make Southfork Townhomes feel like home for them every day,” said Javellana. “I’m honored to be acknowledged by my peers in an industry I find so personally satisfying, and I’m thankful for the opportunities I’ve found in this field with Draper and Kramer.”

  

A graduate of Wartburg College in Waverly, Iowa, Javellana joined Draper and Kramer in 2014 and has more than six years of experience in property management and leasing. Previously, she was named a top leasing consultant at the 2012 MADACS awards. Javellana is a member of the Institute of Real Estate Management (IREM), and holds IREM’s Accredited Residential Manager certification. 

One of the largest property management firms in Chicago, Draper and Kramer has a residential management portfolio of more than 10,000 rental units across Chicago, St. Louis, San Antonio and Minneapolis, as well as 25,000 condominium residences throughout Chicago.

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

Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

 www.draperandkramer.com

.

Wendover Housing Partners Announces Kenwood Place, its New Affordable Senior Community in Tallahassee, FL

Jonathan L. Wolf

TALLAHASSEE, FL, Oct. 27, 2016 – Wendover Housing Partners, a privately held real estate development, investment and management company, today announces it is breaking ground on Kenwood Place, an affordable, senior apartment community in Tallahassee, FL.

 Construction on the 112-unit community, located at 420 Junco Court, began in spring 2016. With the first residents expected to move in during February 2017, Kenwood Place will provide financial relief to Leon County’s growing population of income restricted seniors ages 55 and up.

“When we decide to build a new senior housing community, the Wendover team looks at areas where the need is greatest. With its mild weather and tightknit community, Tallahassee is one of the country’s retirement hotspots,” said Jonathan L. Wolf, President and Founder of Wendover Housing Partners.

“The majority of Leon County’s senior population is healthy and independent with no mobility or self-care restrictions. Wendover hopes to provide these seniors with a safe and active community to call home at an affordable price.”

Priced below Tallahassee’s average rental rate of $814, each Kenwood Place unit features a full-size washer and dryer, a monitored emergency call system, and a fully equipped kitchen including a dishwasher, microwave, island and pantry. Designed with senior comfort and safety in mind, the open and spacious floor plans also provide ample storage space with walk-in and linen closets.

“Wendover believes that fostering and maintaining a sense of community is just as important as what our apartments look like, especially at our senior properties where residents have much more free time on their hands,” added Wolf.

“We provide plenty of indoor and outdoor areas for our residents to socialize and make new friends, as well as free events hosted by our staff. Kenwood Place residents will also be able to enjoy time for themselves in our fitness center, outdoor garden, swimming pool, computer room, community room and more.”

Kenwood Place has begun accepting rental applications for new residents. For information about Kenwood Place, call (850) 580-0151 or visit www.kenwoodplaceapt.com.

For additional information about Wendover Housing Partners, visit www.wendovergroup.com.

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

Melissa Landy

Uproar PR for Wendover Housing Partners

321.236.0102 ext. 233

mlandy@uproarpr.com

Milwaukee’s Siegel-Gallagher Brokerage Team Moves to Transwestern

  

 

Marianne Burish

CHICAGO, IL (oct. 26, 2016) – Transwestern today announces it has expanded its services throughout Southeast Wisconsin with the addition of the brokerage team from the former Siegel-Gallagher Inc., a 20-year-old commercial real estate firm based in Milwaukee.

John Dulmes, Daniel Walsh and Marianne Burish join Transwestern as executive vice presidents, while Shaun Dempsey serves as vice president.

“Already home to our national Sustainability Services group, Milwaukee is familiar territory for Transwestern and has long been viewed as a market with tremendous opportunity to grow our presence,” said Mike Watts, Transwestern’s Midwest president.

Dan Walsh

The Siegel-Gallagher team’s strong reputation and comprehensive experience throughout Southeast Wisconsin ensures our clients will receive the highest level of service from professionals who know the market better than anyone.”

Focused primarily on tenant advisory, agency leasing and investment sales in the office sector, Dulmes, Walsh, Burish and Dempsey to date have executed more than $1 billion in real estate lease transactions on behalf of building owners.

The team won the 2016 Deal of the Year Award from the Commercial Association of Realtors Wisconsin (CARW) for its representation of Bader Rutter & Associates in a 60,000-square-foot headquarters lease at 1433 N. Water St. in downtown Milwaukee.

John Dulmes

Representative clients include Ascension Health/CSM, BMO Harris Bank, Time Warner Cable, Medtronic, Alliant Energy Corp., Shorewest Realtors, Robertson Ryan and Associates, and Sprint Corp., along with a host of local and regional companies and investors.

“Transwestern provides our team the national resources to further grow our brokerage operations and strengthen our long-term client relationships here in Milwaukee,” said Burish.

 “We are excited to join a firm that is dedicated to the same culture, values and commitment to providing exceptional client service as we are.”

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

Gretchen Muller

Taylor Johnson Public Relations

312.267.4511

gmuller@taylorjohnson.com

twmediarelations@transwestern.com

Shopoff Realty Investments Acquires Hebron Heights Retail Center in North Dallas, TX Suburb

  

 

William Shopoff

DALLAS, TX (Oct. 26, 2016) – Shopoff Realty Investments, a national manager of opportunistic and value-add real estate investments, announced today that the company has acquired* a 36,000-square-foot retail center in the northern Dallas suburb of Carrollton, Texas, for approximately $8.1 million.

The property, Hebron Heights, is located at 1012 W. Hebron Parkway in the North Carrollton submarket of the Dallas-Fort Worth metropolitan area.

 Anchored by Pet Supplies Plus, the retail center is approximately 100 percent leased to a mix of national, regional and local tenants. Hebron Heights was constructed in 2004 on 8.04 acres of land located less than one mile east of the Sam Rayburn Tollway.

“Hebron Heights is in a great location surrounded by homes and is in close proximity to other major retailers with the potential to draw additional patrons to the shopping center,” said William Shopoff, chief executive officer of Shopoff Realty Investments. 

“Currently fully leased with a number of tenants paying below market rents, 50 percent of the tenants’ leases expire within five years, providing an opportunity for additional cash flow via re-leasing.”

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

Jill Swartz

Spotlight Marketing Communications

949.427.5172, ext. 701

jill@spotlightmarcom.com

www.shopoff.com

BKM Partners’ Debut Fund Acquires 18th Industrial Business Park Asset in Tukwila, WA for $19.8 Million

  

Andover Executive Park, Tukwila, WA

  

            Tukwila, WA (Oct. 26, 2016) – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has acquired Andover Executive Park, an eleven-building multi-tenant industrial business park encompassing 181,163 square feet in the Kent submarket of Tukwila, Washington. The asset was acquired in an off-market transaction for $19.8 million.

            This acquisition comes on the heels of BKM’s acquisition of Tukwila Commerce Center, which is located adjacent to the property and marks the firm’s 18th acquisition in its debut fund, according to Brian Malliet, CEO and Co-Founder of BKM Capital Partners.

Brian Malliet

            “The Kent industrial submarket is one of the most dynamic in the entire U.S.,” says Malliet. “Currently ranked as the third largest industrial market in the country, Kent’s quality market fundamentals continue to dominate the region. Industrial vacancy remains extremely low, net absorption is positive and rents continue to steadily rise.

" We recognize the deep value potential in this market, and plan to capitalize on the momentum of this rapidly growing region through increasing our investment throughout the Seattle area.”

Malliet explains that BKM’s strategy is to acquire value-add multi-tenant light industrial assets in strong growth markets across the Western U.S., such as the Seattle metro area, that provide a tremendous opportunity for value creation.

            “Our hyper focus on multi-tenant light industrial product allows us to identify, source, and acquire properties that will ultimately deliver the best yields to our institutional investment partners,” says Malliet. “Based on this niche focus and our deep knowledge of the market, we were able to acquire the Andover Executive Park well below peak prices and replacement cost, providing a significant opportunity for generating a strong ROI.” 

 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.bkmcapitalpartners

Marcus & Millichap Brplers $1.5 Million Sale of Miami International Airpot Apartments in Virginia Gardens, FL

Jorge Ruiz

VIRGINIA GARDENS, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the $1.5 million sale of Miami International Airport Apartments, an 11-unit, 43,560-square-foot lot located in Virginia Gardens, FL.

Jorge Ruiz, senior associate in Marcus & Millichap’s Miami office, had the exclusive listing. Associate Alejandro Gonzalez, Vice President Investments Felipe Echarte, and Senior Vice President Investments Evan Kristol in Marcus & Millichap’s Fort Lauderdale office secured and represented the buyer. 

Occupying 5979 NW 37 Street in Virginia Gardens, FL, the asset is strategically positioned next to one of Miami’s largest employers, Miami International Airport.

“The purchaser will benefit from Virginia Gardens’ low vacancy market, located just east of Doral’s exploding submarket in Miami Dade,” says Ruiz. The property contains a mix of efficiency units, one-bedroom units and a two-bedroom unit, with allowance of up to 30 units.

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

Kirk A. Felici

First Vice President/Regional Manager

 Miami, FL

(786) 522-7000