Tuesday, May 9, 2017

HFF closes $32 million sale of Class A office tower in Louisville, KY

  
Meidindger Tower 462 South 4th Street, Downtown Louisville, KY


Lenisa Alvey

 ATLANTA, GA  – Holliday Fenoglio Fowler, L.P. (“HFF”) announced it has closed the $32 million sale of Meidinger Tower, a 26-story, 331,172-square-foot, Class A office tower in downtown Louisville, Kentucky.

HFF marketed the property, along with locally-based NAI Fortis Group, on behalf of the seller, Torchlight Investors, based in New York City.  In-Rel Properties purchased the asset free and clear of existing financing.

Meidinger Tower is located at 462 S 4th Street adjacent to Louisville’s premier retail and entertainment district, 4th Street Live!, in the heart of downtown Louisville.  

Renovated in 2006, the property is currently 97 percent leased to tenants, including Computershare, Mountjoy Chilton Medley, Cotiviti, River Road Asset Management, Seiller Waterman, Northwestern Mutual and TQL.

The HFF investment sales team representing the seller was led by managing director Ralph Smalley and senior managing director John Merrill.  Mark Wardlaw and Lenisa Alvey led the sales process for NAI Fortis Group.

“Louisville is a vibrant city with its own unique character combining aspects from both Midwestern and Southern cultural influences,” said Merrill.  “As a result, Meidinger Tower, with its outstanding location within the heart of the city, was attractive to investors from throughout the Southeast and Midwest.”

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell 617.543.4873 | www.hfflp.com


Aurora Sunny Isles Beach Sells Commercial Space for $5.5 Million


 
Tim Lobanov
SUNNY ISLES BEACH, FF – Aurora Sunny Isles Beach has announced the sale of 5,382 square feet of ground-floor commercial real estate at the luxury residential project to an international investor for $5.5 million – or about $1,022 per square foot.

The commercial sale comes at a time when developer Verzasca Group is preparing to begin construction at Aurora this summer. Aurora is a new boutique luxury condominium project with 61 residences at 17550 Collins Avenue in Sunny Isles, one of the world’s most sought-after destinations.

 It is the first project to be developed on the west side of Collins Avenue – or A1A – in more than a decade.

Aurora’s two and three-bedroom residences range from 1,385 to more than 2,150 square feet. Prices start in the $900,000s, making it the most attainable luxury project on Sunny Isles.

“We are thrilled to complete this commercial sale in advance of commencing vertical construction at Aurora,” said Verzasca Managing Director Tim Lobanov. “This transaction shows that the demand for Sunny Isles real estate transcends the residential sector.”

Alex De Leon of Fortune International Realty represented the undisclosed buyer in the transaction. De Leon specializes in working with buyers and sellers of luxury real estate throughout Miami, including in Aventura, Bal Harbour, Brickell, Downtown Miami, Miami Beach and Sunny Isles.

John Warsing, Director of Sales with Aurora, represented the project in the deal.

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

Jasmin Curtiss
PR Coordinator
BoardroomPR
O 954-370-8999


Shaner Hotels Announces Grand Opening of 120-Room Courtyard Hershey Chocolate Avenue in PA


Plato Ghinos
 HERSHEY, PA,  May 8, 2017—Officials of Shaner Hotels, an award winning, international hotel owner, operator and developer, today announced the opening of the 120-room Courtyard by Marriott Hershey Chocolate Avenue in Pa. 

 The hotel is owned by Bears Creek Hershey Hotel, LLC, a joint development between Shaner and Chafia Capital Partners, a real estate investment and private equity firm.  The property will be managed by Shaner Hotel Holdings, LP, and was financed by Clearfield, Pa.-based CNB Bank.

                “We have been quite active in hotel development the past several years, and the fruits of our labor are coming on line,” said Plato Ghinos, Shaner president.  “We expect to open an additional four hotels in 2017 and another five projected to open in 2018. 

“We are quite upbeat on our outlook for hotel real estate and continue to have an aggressive appetite to build respected brands in markets with high demand generators and barriers to new entry.”

                Located at 515 E. Chocolate Avenue in historic Hershey, Pa., the four-story hotel is nestled between downtown Hershey, the Hershey Country Club, Hershey Chocolate World, Hersheypark and the Hershey Medical Center.

 Additional nearby attractions include Indian Echo Caverns, Hollywood Casino at Penn National Race Course and ZooAmerica North American Wildlife Park. 

“While we always design our hotels to be a part of the local community, we took special steps for this property to architecturally enhance it to match Hershey’s historic downtown, providing such local touches as brick and limestone,” Ghinos added.

Hotel amenities include guest laundry, fitness room, indoor pool and full-service business center.  

Lance Shaner
The hotel features the new Courtyard Refreshing Business lobby, which includes the C-Bar, serving breakfast, coffee and cocktails, as well as flexible seating options ranging from a communal table in the middle of the action to more private media booths with high-definition televisions to a more intimate, semi-enclosed lounge area.  

Guest rooms offer free Wi-Fi, plush bedding and a guest room entertainment package which includes 40 HD channels, an interactive channel guide and internet TV equipped with Netflix, YouTube, Hulu, Crackle and Pandora.

“This property is configured to comfortably accommodate both business and leisure travelers that are coming to Hershey in larger numbers every year,” said Lance Shaner, Shaner Hotels chairman. 

“That’s what made this location so appealing, its close proximity to all the key locations in the city.  With our headquarters just across the way in State College, we are particularly gratified to open this one-of-a-kind hotel in our backyard.  

“As the newest hotel in Hershey, we expect the property to ramp up quickly as it takes its rightful place as the destination of choice for business and leisure travelers to the Sweetest Place on Earth.”

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

CHRIS DALY, PRESIDENT
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553










Monday, May 8, 2017

Hunter's Ridge 2,000-Acre Regional Recreational Park in Ormond Beach, FL Officially Conveyed to Flagler County


Marisol Santiago Soderstrom

Ormond Beach, FL --- Closing documents were signed officially giving Flagler County the 2,000 +/- acres on the west end of Hunter’s Ridge, the 5,000 acre master-planned community on Highway 40 just west of I-95 in Ormond Beach.

The park will serve not only as an amenity for residents of Hunter’s Ridge, which straddles the Volusia-Flagler county line, but also as an attraction for the entire region. 


John Kurtz
Allan Feker, president of US Capital Alliance, LLC the developer who signed the closing documents deeding the property to the county, said protecting the environment has always been a high priority.  Responsible development and desire to preserve the natural beauty of Ormond Beach were key factors in the decision to make this gift to the region.

“This is going to be a terrific amenity for our residents,” said Feker. “In the coming years Flagler County will be developing miles of trails that could include hiking, horseback riding and biking with trail heads and other amenities, enabling Volusia and Flagler County residents to become truly immersed in the natural beauty of the region,” he said.

Marisol Santiago Soderstrom and John Kurtz of Premier Sotheby’s International Realty in Lake Mary, are brokers of record for the project. 

Last December Flagler County Commissioners voted unanimously to issue permits to continue developing the Hunter’s Ridge DRI (Development of Regional Impact). 

“This is a very exciting time for Hunter’s Ridge,” said Kurtz who also serves as Realtor for US Capital Alliance.  “After a few solid years of planning, engineering and legal work to get new phases of Hunter’s Ridge on track for development, we are finally able to open the first pods north of Airport Road, satisfying the demand of a growing number of builders looking to stake their claim in this unique community,” said Kurtz.

The remaining 3,000± acres held by the developer at Hunter’s Ridge provides entitlements for approximately 1,900 residential units and 600,000 square feet of commercial space to be developed in years to come, according to Soderstrom. .

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

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


Kass Management Brokers $2.4 Million Sale of Apartment Building on Chicago’s North Side


1700 West Juneway Terrace Apartments, Rogers Park Neighborhood, Chicago, IL

Mark Durakovik
CHICAGO, IL — Chicago-based Kass Management Services, a third-party property management and brokerage firm, announced the $2.4 million sale of a 32-unit apartment building at 1700 W. Juneway Terrace in Chicago’s Rogers Park neighborhood.

Kass Principal Mark Durakovic and agent Andrew Gruesser represented the seller, CMHDC, a non-profit housing development corporation serving the Chicago metropolitan area.

“As rents and underlying property values have risen, landlords in Rogers Park and other North Side neighborhoods have been able to capitalize on strong interest from investors looking to grow their portfolios,” said Durakovic.

“Having managed 1700 W. Juneway Terrace for 11 years, we were intimately familiar not only with the property, but also the surrounding neighborhood. As a result, we were able to market the property in a way that maximized value on behalf of our client.”

Built in 1924, the vintage three-story brick walk-up includes a mix of one-, two-, three- and four-bedroom apartments, each with a large back deck. When Kass took over management of the building in 2006, the firm was able to increase occupancy from 60 percent to full occupancy in less than nine months.

Over the years, Kass continued to stabilize the property by increasing rents and maintaining high occupancy during its management tenure. The units, which were renovated in 2007, were over 90 percent occupied at the time of sale.

“For the past 30 years, Kass has specialized in providing third-party property management services for residential and commercial properties throughout the Chicago area, making brokerage a natural extension of our business,” said Durakovic.

“The Rogers Park sale is just one example of how we can leverage our longstanding client relationships and in-depth market knowledge to provide a comprehensive service platform that encompasses all phases of property ownership – from acquisition, to management and leasing, to disposition.”

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

Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528


Sunday, May 7, 2017

Passco Companies Acquires Class A 260-Unit Multifamily Asset in Southwest Florida for $53.5 Million


Colin Gillis
                Estero, FL -- Passco Companies has acquired Springs at Estero, an institutional grade, Class A, 260-unit multifamily community in Southwest Florida for $53.5 million. The brand new, stabilized property is in the submarket of Estero within the Fort Myers / Cape Coral MSA.

“The acquisition of Springs at Estero, which we plan to rebrand as Longitude 81o, is reflective of our ongoing strategy to acquire core assets with long-term growth potential in dynamic markets across the Southeast,” says Colin Gillis, Vice President of Acquisitions for the Southeast at Passco Companies. 

“This is our fourth acquisition in Florida in the last 12 months. We continue to find exceptional investment opportunities throughout the state. We are especially excited to make our first acquisition in Southwest Florida, which is experiencing rapid economic expansion driven by explosive job and population growth.”


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

Lauren Burgos/ Lexi Astfalk
 Brower, Miller & Cole
 (949) 955-7940
 Lburgos@browermillercole.com

Gelt, Inc. Launches Happy Home Communities; Names Ellie Davis as Director of Acquisitions and Asset Management


Ellie Davis
 Los Angeles, CA – Gelt Inc., a Los Angeles-based multifamily real estate investment and asset management firm, is pleased to announce it has launched a new business venture, Happy Home Communities (HHC), within its growing group of entrepreneurial companies.

HHC will focus exclusively on the acquisition and management of mobile home and RV resorts throughout the Western United States. Effective immediately, HHC will be led by Ellie Davis, an expert in this specialized sector, who will serve as the company’s director of acquisitions and asset management.

In his new role with HHC, Davis will oversee the acquisition of manufactured home communities as well as the management of day-to-day operations of the company at the resort level. He will also work to foster and build relationships with brokers, lenders and residents.

“We are more than excited about the launch of HHC, and are thrilled that Ellie has come on board to spearhead this new endeavor,” said Keith Wasserman, partner and co-founder of Gelt. “Ellie shares in our vision of responsibly and thoughtfully acquiring properties in this somewhat under the radar sector, as well as fostering thriving communities for those who live in them.”

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

Darcie Giacchetto
Giacchetto Communications

949.278.6224

Stepp Commercial Completes $2.65 Million Sale of 13-Unit Apartment Property in Downtown Long Beach, CA


Robert Stepp
Long Beach, CA – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $2.65 million sale of a 13-unit apartment property in Downtown Long Beach, Calif.

Principal Robert Stepp and Vice President Michael Toveg of Stepp Commercial represented the seller, Santa Barbara-based 336 E 8th LLC, as well as the buyer, a private investor from Signal Hill. The property closed at a 4.3 percent cap rate and a price per unit of nearly $204,000.

Built in 1983, the two-story property is located at 336 E. 8th Street. The unit mix includes nine one-bedroom units, three two-bedroom units, and one three-bedroom unit. The property features large unit sizes as well as garage parking. 

“This property offered the buyer an upside in rents once the units are upgraded, as well as an ideal location in the Downtown Long Beach area which has been seeing a significant amount of growth and gentrification in recent years,” said Toveg.

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

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

Darcie Giacchetto
Giacchetto Communications

949.278.6224

Real Estate Financial Veteran Chris Ross Joins Feldman Equities


Christopher Ross
TAMPA, FL --  Feldman Equities announced industry veteran Christopher Ross has joined its team to help lead the expansion of its commercial real estate portfolio.

Chris joins Feldman Equities as a Senior Analyst and will prospect all new acquisitions.  Chris will lead due diligence and perform financial analysis for development projects, including the company’s upcoming mixed-use Riverwalk development.

Prior to joining Feldman Equities, Chris spent ten years with MetLife’s Real Estate Investments office in Tampa working in its property acquisition and asset management group. 

Most recently he served as Director of Acquisitions for Cantor Fund Management. With an eye towards an ever-expanding real estate portfolio, this is Feldman Equities’ fifth hire in recent months.

The company most recently acquired Tampa’s Park Tower, a 36-story, 475,000 square foot office building which will undergo a substantial renovation this year. Park Tower rounds out a 1.3 million square foot office building portfolio owned and under development by joint venture partners Feldman Equities and Tower Realty Partners. 


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



Hold-Thyssen Negotiates Long Term Leases at Two Commercial Centers – In Palm Harbor, FL and Dade City, FL


Therese Taylor

CLEARWATER, Fla. --- Hold-Thyssen Inc., a full service real estate firm, recently negotiated two long term leases at commercial centers in the Tampa Bay area for office and retail space.

Hold-Thyssen’s Clearwater office represented the landlord for the Harbor Park Office Center located at 33920 US Hwy 19 North in Palm Harbor, in an expansion lease for 1,851 rentable square feet.  There was very limited space available within the office building at the time, but the landlord and Hold-Thyssen team were able to meet the professional needs of the tenant, Gulf Coast Advisors, one of the area’s leading independent financial advisors.

At Morningside Plaza, 12624 U.S. Hwy 301 in Dade City, Hold-Thyssen’s Leasing Agent Therese Taylor represented the landlord in a five-year lease renewal with Lee’s Hair Salon who occupies 900 square feet at the retail center.

Hold-Thyssen headquartered in Winter Park with offices in Clearwater, provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

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


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

Friday, May 5, 2017

Central Florida Commercial Real Estate Firms Join Forces


Patrick Mahoney
ORLANDO, Fla. – Two of Central Florida’s long-standing commercial real estate firms have merged.

Representatives from NAI Realvest in Orlando and Charles Wayne Commercial, a Volusia County affiliate of Charles Wayne Properties, Inc., confirmed that the two companies have combined their real estate brokerage operations to better serve the growing client base of both firms.

NAI Realvest is a leading commercial real estate force in the Central Florida region, and Charles Wayne Properties has been a dominant force in Volusia County commercial real estate since 1978.

“This partnership provides additional strength and reach to both companies,” NAI President and CEO Patrick Mahoney said. “NAI Realvest gains the reputation and reach of Charles Wayne Properties in the Volusia market, while Charles Wayne Properties profits through gaining the ability to utilize our global partnership with NAI.   We could not be more excited to have Charles Wayne Properties as partners for the future.” 

Charles Lichtigman

“Our combined brokerage companies have top experts in every aspect of Central Florida commercial real estate,” said Charles Wayne Chairman and Founder Charles Lichtigman. “Together, we make a dynamic force with the benefit of nationwide and international coverage.”

NAI Realvest and Charles Wayne Properties both have development, consulting and investment affiliates which are unaffected by the merger of their commercial brokerage affiliates.

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

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


Grandbridge Vice President Adam Lipkin Arranges New Loan for Republic of Nauru, World’s Smallest Island Nation

                                                        
 
Adam Lipkin
MIAMI, FL and HOUSTON, TX  Adam Lipkin, Vice President of Grandbridge Real Estate Capital's Miami team, has secured a $7.8 million refinancing for a Houston-area office building owned by a sovereign wealth fund operated by the Republic of Nauru, a South Pacific island nation

The 18-month loan was provided by a U.S-based crowdfunding real estate platform. With just under 10,000 inhabitants, Nauru is the world’s smallest island nation. Its government developed the Nauru Phosphate Royalties Trust to invest proceeds from a state-owned mining company.

In late 2015, Lipkin arranged a $6.2 million bridge loan for the trust, which has invested in numerous U.S. real estate assets over the years. The financing was secured by a 6-story, 138,633-square-foot single-tenant office building in the Clear Lake submarket of Houston.

The new loan facilitated by Lipkin provides a short-term financing solution for the property, which is mostly occupied by Jacobs Technology, a wholly owned subsidiary of publicly traded NASA contractor Jacobs Engineering Group (NYSE: JEC). Jacobs provides technical, professional and construction services to various industrial, commercial and governmental clients.

“While conventional lenders are understandably challenged and conservative with terms these days, there are viable and creative lending options out there,” Lipkin said. “With lenders that are more focused on the underlying collateral value, there is flexibility with rates, terms and structures.”




Lipkin worked with the Trust’s experienced asset manager, Ben Jacobson, founder of Blackstone Consulting, a Miami-based asset management firm. Jacobson’s firm was hired by the Trust to assist with numerous challenges and improve the overall returns and marketability of the asset.  Within the last 18 months, Jacobson solved prior management issues, renegotiated and extended the lease term, improved operations and returns before securing the financing through Grandbride.

“There aren’t many creative, outside the box commercial financing options, especially not for foreign-based borrowers,” Jacobson said. “We worked together to ensure the eventual lender would be thrilled to underwrite this asset in a strong office submarket.”


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

Eric Kalis
Account Director, BoardroomPR
ekalis@boardroompr.com

O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322
Web | Facebook | LinkedIn | Twitter | Instagram





Longmeadow Shops in Longmeadow, MA Celebrates Expanded Lifestyle Center and New Retailers


Time Capsule Dedication
 Longmeadow, MA — Over two years ago, the Longmeadow Shops’ owners Grove Property Fund had a vision to improve their lifestyle center. Today, that vision was recognized at a public event to celebrate the official Grand Opening of the recently expanded shopping center.

All of the Longmeadow Shops retailers gathered with business, political and community leaders to mark this milestone.  

The group recognized the community effort that was put forward to make the expansion a success, and also showcased the retailers who recently opened in the expanded space including J.Crew Mercantile, Verizon Wireless, and CVS Pharmacy. 

State Senator Eric Lesser, representatives from State Representative Brian Ashe’s office, Town Select Board Members Marie Angelides, William Low and Thomas Lachusia, Town Manager Stephen Crane and Longmeadow Fire Chief John Dearborn headlined a group of dignitaries joining Grove Property Fund, project development team members, and retailers for this celebration.



“A strong mix of local, regional and national tenants has been a recipe for success here at the Longmeadow Shops,” said Steve Walker owner of Grove Property Fund.  “We are very grateful for the all the community support that we have received leading up to today’s milestone, and we are very excited to showcase our enhanced our shopping center to the community.”

The Longmeadow Shops has been a fixture in the heart of the Longmeadow community dating back to the early 1960’s. The property was purchased in 1994 by Grove Property Fund.  Over the past two decades, Grove Property Fund has prioritized maintaining the charm and character of the shops, while also providing area residents with top-notch local and national retailers and restaurateurs.




“For as long as I can remember, the Longmeadow Shops have served as a place for the community to gather. In that spirit, I’m glad to join with my community, my colleagues and business leaders today to reaffirm our commitment to sensible and sustainable business development in Longmeadow. This recent expansion at the Longmeadow Shops is a welcome addition in our community,” said Senator Lesser, Chairman of the Economic Development and Emerging Technologies Committee.

The event featured a time capsule dedication where each of the Longmeadow Shops retailers placed branded items into the capsule along with other fun branded items, including mementos from the Town of Longmeadow. 

Marie Angelides
Proclamations were presented from the U.S. House of Representatives, Massachusetts State Senate and Massachusetts House of Representatives and placed into the time capsule. Past news coverage from The Republican – MassLive.com, The Longmeadow News, The Reminder, Business West, WWLP 22News, Western Mass News, and LongmeadowBiz were also contributed. 

The capsule will be buried at a later date and unearthed 20 years later. The event also featured a formal ribbon cutting ceremony.

Current tenants at the Longmeadow Shops include United Bank, Bertucci’s, Fleet Feet, Caren & Company, Max Burger, Giftology, Peachwave, Chico’s, Gap and Gap Kids, Ann Taylor, Delaney Market, In Chic Boutique, Oksana Salon & Spa, Francesca’s, Starbucks, J. Jill, Shoenique, CVS Pharmacy, Jos.A.Bank, Ume Asian Bistro, Bank of America, J.Crew Mercantile and Verizon Wireless.

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

Sean Shortell
Senior Public Affairs Specialist
Watkins Strategies
781-720-9726


Matt Watkins                                       
Watkins Strategies                               
617-571-4582                                    

Wednesday, May 3, 2017

HFF hires David Gaines as a director in its Chicago office

  
David Gaines
CHICAGO, IL, May 3, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that David Gaines has joined its Chicago office as a director focused on multi-housing investment sales in the Chicago area and throughout the Midwest. 
  
Mr. Gaines has more than 16 years of multi-housing commercial real estate experience and joins HFF from Berkadia Real Estate Advisors, where he was a managing director. 

Prior thereto, he was with Marcus & Millichap Real Estate Investment Services, where he rose through the ranks from their sales intern program to senior director of their National Multi-Housing Group and co-head of the Mid-Market Multifamily Practice when he left in 2015.

 Mr. Gaines is a member of the National Multi Housing Council and Urban Land Institute and is a graduate of the University of Tennessee in Knoxville. 

“David will partner with our existing multi-housing team, led by Sean Fogarty and Marty O’Connell, to strengthen HFF’s middle market multi-housing platform in Chicago and the Midwest,” said Jeff Bramson, head of HFF’s Chicago office.  “We have seen increasing interest from our clients for middle market investment opportunities and are excited to have a dedicated specialist such as David at HFF to meet our client’s growing needs in this space.”

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

Kristen M. Murphy
Director, Public Relations
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

Berger Commercial Realty Facilitates $14.8 Million Sale of East Port Center in Fort Lauderdale, FL


Judy Dolan

 FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International Senior Vice Presidents St. George Guardabassi and Judy Dolan represented EJP East Port, LLC in the $14.8 million sale of East Port Center to East Port Center, LLC.

Following the transaction, which closed on April 26, the new owner retained Berger Commercial Realty as the exclusive leasing agent and property manager for East Port Center.

St. George Guardabassi
“St. George and I have handled leasing for East Port Center for several years, securing major tenants including Pantropic Power, Azimut Benetti, Dow Electronics and others,” Dolan said. “We look forward to continuing our track record of keeping the property at 100 percent occupancy.”

Located at 1881 to 1887 State Road 84 in Fort Lauderdale, East Port Center is a 108,500-square-foot industrial park situated at the northeast corner of I-95. The state-of-the-art complex features 20 feet of clear ceiling height, ample parking, frontage on State Road 84, all glass storefront facades and rear dock-high loading.

“East Port Center is Fort Lauderdale’s highest rated, class-A flex building east of I-95,” Guardabassi said.

The property’s location at the intersection of I-95 and Marina Mile Road makes it accessible from major roadways including I-595, Florida’s Turnpike, State Road 7, and Federal Highway. East Port Center is located within two miles of Fort Lauderdale/Hollywood International Airport and Port Everglades.

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:

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

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