CBRE’s Philip D. Voorhees and NRP-West Team Complete Sale of Friendly Hills Marketplace in Whittier, CA for $40 Million

Friendly Hills Marketplace, Whittier, CA

WHITTIER, CA – CBRE Executive Vice President Philip D. Voorhees announced  that he and the National Retail Partners-West (NRP-West), on behalf of Oppidan, Inc., the property owner and developer, completed the sale of the newly-constructed Friendly Hills Marketplace in Whittier, California, a power center, 100% leased to national and regional credit tenants including Orchard Supply Hardware (NYSE: LOW), HomeGoods (NYSE: TJX), ULTA Beauty, and Skechers.

Philip D. Voorhees

CBRE retail experts Voorhees, Kirk Brummer, James Tyrrell, Megan Wood, Preston Fetrow and Jim Leary represented the seller, Minneapolis-based Oppidan.

The buyer, represented by a cooperating broker, was Golden Capital Whittier, LLC, a Vietnamese-based private investor who purchased the property as an addition to its portfolio.

“Through our broad, systematic marketing approach, CBRE successfully activated the investment community globally, including cooperating brokers with unique relationships to family-owned corporations and high net-worth foreign investors. We otherwise would not have discovered this investor through traditional listing services,” said Voorhees.

Megan Wood

In addition to handling the investment sale, Bruce Francis in CBRE’s Phoenix office and Shaun Moothart in CBRE’s Newport Beach, both with CBRE’s Debt & Structured Finance team, arranged the buyer’s financing.

Kirk Brummer

“While big-box retail is presently out of favor for most lenders, our CBRE debt team marketed the buyer’s finance request to over 40 lenders, ensuring no stone was left unturned. 

This approach attracted multiple lenders, creating a competitive bid situation, ultimately resulting in aggressive pricing from a life insurance company with a rate in the high three-percent range, fixed for 15 years,” said Moothart.

Built in 2017, Friendly Hills Marketplace is a wholly-owned, 89,826-square-foot shopping center on 7.7 acres of land and situated at 15311 Whittier Blvd. in Los Angeles County.

Preston Fetrow

 “Friendly Hills Marketplace provides the residents of Whittier and surrounding communities new and varied shopping opportunity and a shopping experience in a uniquely designed and engaged customer environment,” said Paul Tucci, Vice President of Development for Oppidan.

“Friendly Hills Marketplace proves that well located, high-quality power centers with top tier ‘big box’ tenants remain a highly sought-after product type,” said Tyrrell. 

According to Voorhees, CBRE’s marketing efforts produced more than 509 confidentiality agreement/offering memoranda distributed and through the teams’ “managed bid” offer process, generated more than six offers to purchase the property.

Jim Leary

With this closing, CBRE's NRP-West team topped $10 billion in successfully closed retail investment sale transactions.

Select NRIG-West team California listings include Santa Fe Springs Marketplace in Whittier, listed for sale for $28,440,000; Landmark Plaza in Huntington Beach, listed for sale for $20,531,000; and The Nut Tree, in Vacaville, a 371,524-square-foot shopping center offered for sale for an undisclosed amount.

 For more information, please contact:

Anne Monaghan                               

Monaghan Communications           
949.725.8521 O / 949.887.8527 M

www.oppidan.com.
listings.nrpwest.com. 
www.cbre.com.
www.cbre.com/nrpwest.

The Keyes Company’s Nash Group Lists Former New York Yankees World Series Champion Pitcher’s Jupiter Waterfront Compound for $14 Million

Jeff Nelson, wife Sheri Quinn Nelson and "friend" in Jupiter, FL

JUPITER, FL --  Billy Nash of The Keyes Company’s Nash Group has listed the Admirals Cove family compound of former New York Yankees pitcher and four-time World Series winner Jeff Nelson and his wife Sheri Quinn Nelson. 

The home, located at 494 Mariner Drive in Jupiter is being marketed with an asking price of $14 million. 

Billy Nash

Billy Nash and his team were brought in to re-list the 7-bedroom, 11-bathroom family compound. Custom built in 2009, the home measures in at 11,394 square feet of living space, perched on over 1.1 acres directly on the Intracoastal at Admirals Cove. 

Along with amazing unobstructed views of the water, it fits the waterfront lifestyle that comes with the prestigious community, boasting access to South Florida’s noted waterways and a marina equipped to handle yachts up to 160 feet long.

The estate provides ample privacy and is just minutes from the Jupiter Inlet and white sandy beaches along the Palm Beaches and Treasure Coast. Admirals Cove offers one of best golf experiences in South Florida. 

The Nash Group closed out 2017 as one of the top five selling groups in The Keyes Company, surpassing the $30 million mark in sales. 

Nash recently secured the closing of H. Wayne Huizenga, Jr.’s Delray Beach lakefront estate for the full asking price of $6.75 million, after just 10 days on the market. 

Jeff and Sheri Nelson's Admirals Cove Estate,
Jupiter, FL 

He is also currently marketing a $30 million dollar compound on Key Biscayne for the former Chairman of Live Nation and Rolling Stones touring manager Michael Cohl.

In addition, Nash recently sold Rosie O’Donnell’s waterfront property in West Palm Beach. Nash was also selected to market a villa in Tuscany, Italy on behalf of longtime Bruce Springsteen drummer Max Weinberg.

“The Nash Group continues to have a commanding influence in the South Florida luxury market,” said Mike Pappas, CEO and President of The Keyes Company. ‘Billy has led by example and is living proof that unsurpassed market knowledge and going the extra mile to develop great client relationships along with world class marketing, really pays off.”

Max Weinberg

The Nash Group utilizes international marketing strategies to reach a worldwide buyer pool for its luxury listings. The Admirals Cove Property will be listed on the Luxury Portfolio International platform, reaching luxury homebuyers throughout the world, and has been chosen for the March Cover of DuPont Registry. 

“I’m proud of the hard work we put into everything we do,” said Nash. “We don’t just list luxury homes, we prepare them to be sold. We are 100 percent invested in the process. We are strong, and will stop at nothing to generate interest in the trophy properties we represent.”

Celine Dion

As a four-time World Series Champion, Nelson played for the New York Yankees and the Seattle Mariners, where he holds the record for most games pitched. In 2016, he joined Fox Sports as a commentator for the Miami Marlins.

Bon Jovi

Over the years, The Club at Admirals Cove has been home to other notable residents, including Celine Dion, Bon Jovi drummer Tico Torres and former Philadelphia Phillies player Mike Schmidt.

Keyes is the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States, and is extremely active in luxury residential real estate. In 2017, Keyes generated more than $6 billion in real estate services across its Family of Companies.

Independently-owned and operated since 1926, The Keyes Company is a leader in the real estate industry. Keyes completed a merger with Illustrated Properties in July 2016.

Tico Torres

Keyes has 58 offices, more than 3,000 associates and nearly $6 billion in annual real estate sales and services. Keyes’ offices are distributed throughout six counties – Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, and Volusia.

 Keyes expands our Associates’ reach globally as a Founding Member and Shareholder of Leading Real Estate Companies of the World^®. In addition to our Associates’ expertise, The Keyes Company offers a suite of resources to cover whatever needs arise while buying or selling your home.

Your mortgage, title, insurance, and property management needs can all be managed in-house, allowing us to close your deal with speed and efficiency while giving you the opportunity to talk to a real person whenever you have a question.

For more information on this listing, please contact:

Jasmin Curtiss

 Account Executive, BoardroomPR

jcurtiss@boardroompr.com

 O 954-370-8999

 Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

$45.5M sale of 270-unit multi-housing community in Vancouver, WA, announced by HFF

Carrie Kahn

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announces $45.5 million sale of Bridge Creek, a 270-unit, garden-style multi-housing community in Vancouver, Washington.

The HFF team exclusively represented the seller, Aukum Group, and procured the buyer, Jackson Square Properties.

Bridge Creek is located at 9211 NE 15th Avenue near an array of shopping, banking and cinemas, as well as Interstates 5 and 205, Clark College and Washington State University.

Ira Virden

 The property is also a short commute to downtown Portland and the Portland International Airport. Bridge Creek’s one-, two- and three-bedroom apartment homes feature contemporary layouts with fully equipped kitchens, large closets, in-unit washers and dryers and garages.

 The pet-friendly community also offers amenities, including a swimming pool with expansive sundeck, fitness studio, resident lounge, executive business center, off-leash dog park and playground.

The HFF team representing the seller included senior managing director Ira Virden and director Carrie Kahn.

Aukum Group (formerly Aukum Management) is a private real estate investment company focused on apartments in the western United States. The company partners exclusively with private accredited investors and select private equity funds.

 Aukum has acquired approximately 4,850 apartment units since its founding in 2009, and is actively managing a portfolio of over 4,000 units valued at over $750 million.  Aukum is actively selling and acquiring new assets in select western markets.

Bridge Creek Apartments, Vancouver, WA

Jackson Square Properties is a private real estate investment company located in the San Francisco Bay Area that specializes solely in the purchase and ownership of multifamily apartment communities.  

Founded in 2004, Jackson Square Properties has expanded over the years to own a diverse pool of multifamily assets totaling more than 75 communities with 20,000 units in 10 states.

For more information on this transaction, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

Boynton Beach-based firm’s 43 agents at The Realty Pros join Keyes to continue its Palm Beach County expansion

(From L eft): Keyes CEO Mike Pappas; Keyes Boynton Beach District Sales Manager Jo Ann Mazzeo; The Realty Pros Founder Debra Simon and Keyes Senior Vice President Steven Reibel

Boynton Beach, FL – The Keyes Company has announced the acquisition of the Boynton Beach-based real estate firm The Realty Pros.

This marks the fourth acquisition for the firm since August 2017, proving Keyes and its Family of Companies are committed to growth throughout South Florida and the Treasure Coast.

The Realty Pros brings 43 agents who specialize in Palm Beach County residential properties to the Keyes team. The acquisition was officially announced during a private event held on Wednesday, January 10.

Debra Simon

The location of The Realty Pros office at 8788 West Boynton Beach Boulevard within the Canyon Town Center brings significant strategic value to Keyes. West Boynton Beach is experiencing substantial growth and activity.

“We are thrilled to welcome The Realty Pros to the Keyes family,” said Keyes CEO Mike Pappas. “The Realty Pros team has substantial experience, top-notch professionalism and a true passion for real estate and serving the community.”

For The Realty Pros Founder Debra Simon, the transaction represents a full-circle moment following more than 30 years in the real estate industry. After initially obtaining her real estate license in 1985, Simon started her brokerage career with Keyes.

Simon also has a music background that she has parlayed into charity work throughout South Florida. She has spent countless hours performing and signing for residents at assisted living and Alzheimer’s facilities and veterans’ hospitals. Simon has long-term relationships with Alzheimer’s Research and Care, the Cancer Research Institute and Make-A-Wish Foundation.

Mike Pappas

“As an independent company we are excited to find a firm that shares our personal approach, enthusiasm for real estate and overall core values,” said Simon. “We are also excited to leverage the leadership, marketing, resources and technology of Keyes to promote our properties. We know this will be a successful union.”

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. 

In 2016, Keyes listed more than $1 billion in luxury homes priced at $1 million or more.

The Keyes Family of Companies is the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, Keyes has in excess of 1,100 Sales Associates and produces double the volume of its closest competitor.

For more information on this transaction, please contact:

Jasmin Curtiss

 Account Executive, BoardroomPR

jcurtiss@boardroompr.com

 O 954-370-8999

 Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Grover Corlew Sells Resurgens Park Buildings in Fayetteville, GA for $16.3 Million

Fayetteville, GA Professional-Use Buildings off Highway 54

FAYETTEVILLE, GA  (Feb. 21, 2018) – Florida-based real estate investment group Grover Corlew announces the development and sale of the Fayette Surgical Building, Fayette Medical Building and a parcel of undeveloped land on Highway 54 in Fayetteville, Ga. for $16.3 million. 

After developing Fayette Medical Building approximately 10 years ago, Grover Corlew recently completed the state-of-the-art Fayette Surgical Building for Resurgens Orthopaedics.

“Our firm specializes in identifying properties with attractive investment features and unique development possibilities, which were evident with this property,” said Partner Anuj Grover. “The buildings are ideally situated right off Highway 54 in the growing Atlanta suburb of Fayetteville, catty-corner to Piedmont Fayette Hospital which is a 221-bed community hospital that is among the most highly-ranked and awarded hospitals in the Southeast.”

Anuj Grover

Grover Corlew broke ground on the Fayette Surgical Building in late 2016 and completed the building in October 2017. 

Resurgens Fayette Surgery Center occupies 16,644 sq. ft. of space in the Fayette Surgical Building offering a high quality, service-oriented environment for out-patient orthopaedic surgical procedures. The adjacent 13,551 sq.-ft. space is occupied by Resurgens Orthopaedics and Spine Center, the largest orthopaedic group in the state of Georgia.

In addition to the Fayette Surgical Building, the sale included the nearby 17,500 sq.-ft. Fayette Medical Building, also leased to Resurgens Orthopaedics, and an adjacent excess land parcel.

For more information on this transaction, please contact:

Samantha Van Nuys

Pierson Grant Public Relations

6301 Northwest 5th Way, Suite 2600
Fort Lauderdale, FL  33309
P: (954) 776-1999  ext. 115
F: (954) 776-0290
svannuys@piersongrant.com

piersongrant.com                            
High Impact Digital

EagleBridge Capital Arranges $12,650,000 Mortgage Financing For Downtown Providence, Rhode Island Apartments

95 Lofts Apartments, 95 Chestnut Street, Near Knowledge and Jewelry Disricts, Downtown Providence, RI

Boston, MA: EagleBridge Capital, working exclusively on behalf of its client, has arranged permanent mortgage financing in the amount of $12,650,000 for 95 Lofts located at 95 Chestnut Street in the Knowledge District and near the historic Jewelry District in Downtown Providence, Rhode Island. 

Ted M. Sidel

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted. M. Sidel who stated that the non-recourse loan was provided by a leading Massachusetts financial institution. The borrower was represented by the law firm of DarrowEverett.

95 Lofts is a six-story, 58,500 square foot, residential building consisting of 59 apartment units plus 2500 square feet of ground floor commercial space.

The building constructed in 1904 and then known as the Irons and Russell Building has undergone an extensive historical renovation in which period details have been carefully restored including an original ornate birdcage elevator, stairway subway tile, and terrazzo tile floors.

The units feature abundant natural light, exposed brick walls, high ceilings, original maple floors, and unique layouts.

Brian D. Sheehan

The apartments offer premium contemporary finishes with kitchens featuring the latest Energy Star rated appliances, modern cabinetry, and ample storage space. Other features include high speed wifi, a smartphone entry system, and high efficiency heating and cooling.    There are 33 one bedroom units and 17 two bedroom units and 9 studios.

Located nearby are the Brown University Warren Alpert Medical School, The Brown University Molecular Medicine Building, Women and Infants Hospital, Johnson and Wales University, and Lifespan’s world headquarters.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and  r & d buildings, shopping centers,  hotels, condominiums and mixed use properties as well as special purpose buildings.

For more information on this transaction, please contact:

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place, Suite 2600

Boston, MA 02108

Tel: 617-292-7177 Ext. 300

www.eaglebridgecapital.com

Daum Commercial Directs Lease of Los Angeles County Industrial Facility to Expanding Olive Oil Manfacturer

Dennis Sandoval

MONTEBELLO, CA  (Feb, 21, 2018) – DAUM Commercial has completed the full-building lease of a 54,648 square-foot warehouse in Montebello, California on behalf of the lessor, Emery Investments, a Toronto-based privately owned real estate development and property management company. Dennis Sandoval, an Executive Vice President in DAUM’s City of Industry office, represented the lessor along with Kevin Sandoval, Kurt Yacko, and Bryan Sandoval, all with DAUM Commercial.

Kevin Sandoval

The tenant, Sunset Olive Oil, will maintain its occupancy in its existing processing plant in Montebello, and is expanding into this warehouse to meet additional needs for storing and distributing raw materials and its finished products.

“This expansion and lease was a win-win for Los Angeles County, and for our client,” says Sandoval. “Keeping manufacturers in the LA Basin is a priority for local leaders, especially as many businesses expand out of state, into Texas, Arizona and Nevada.  In this case, we worked closely with the City of Montebello and LA County to identify the right tenant for this property, which will create approximately 20 new jobs in the region.”

Bryan Sandoval

The property was recently upgraded with a new roof, new lighting, updated landscaping, refreshed office space with skylights, and both interior and exterior improvements.  Additional features include four dock-high loading doors, 68 parking spaces, and a secure private yard.

“A stand-alone industrial property with these features is a rare find in the current market,” says Sandoval.  “Drawing upon our knowledge of the submarket and our expertise in this product type, we were able to proactively market the building and garner multiple competitive offers within 30 days.”

Sandoval anticipates a continued rapid transactional pace as 2018 progresses.

Kurt Yacko

“Industrial leasing and sales are poised for a strong year,” he says.  “The Central/Southeast Los Angeles industrial market posted steady occupancy increases in Q4 of 2017, moving from 2.1-percent vacancy to 1.9-percent vacancy. In addition, average asking rents increased 8.1-percent year-over-year.  This is robust growth for the market and represents excellent growth potential for industrial lessors in the year ahead.”

The property is located at 1215 Washington Boulevard in Montebello, California.  The lessee was represented by Mark Repstad with Realty Advisory Group.

For more information, please contact:

Lindsay Mackay / Elisabeth Manville

Brower Group

(949) 955-7940

lmackay@brower-group.com